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Yearly Archives :

2025

US State Dept okays potential sale of air-to-air missiles to Japan for $3.64 billion

US State Dept okays potential sale of air-to-air missiles to Japan for $3.64 billion 150 150 admin

(Reuters) – The U.S. State Department has approved a potential sale of advanced medium-range air-to-air missiles and related equipment to Japan for an estimated $3.64 billion, the Pentagon said on Thursday.

The principal contractor for the sale will be RTX Corp , the Pentagon said in a statement.

(Reporting by Ismail Shakil in Ottawa; Editing by Leslie Adler)

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China’s central bank likely to cut rates in 2025, FT reports, as part of broader policy shift

China’s central bank likely to cut rates in 2025, FT reports, as part of broader policy shift 150 150 admin

BEIJING (Reuters) -China’s central bank said it is likely to cut interest rates from the current level of 1.5% “at an appropriate time” in 2025, the Financial Times reported on Friday citing comments the bank made to the newspaper.

The remarks by the People’s Bank of China align with policymakers’ commitment made last year towards creating a more market-driven interest rate curve. Analysts anticipate it will make further changes this year to ensure credit demand is more responsive to monetary policy moves.

The PBOC said that it would prioritise “the role of interest rate adjustments” and move away from “quantitative objectives” for loan growth, the FT reported, as it embarks on a programme of interest rate reform that government advisors have called “an arduous task”.

“Aligning with the requirements of high-quality development, these quantitative targets have been phased out in recent years,” the bank said.

“The PBOC will pay more attention to the role of interest rate control, and improve the formation and transmission of market-orientated interest rates,” it added.

China’s 10-year and 30-year treasury yields both hit record lows on Friday on expectations of fresh monetary easing.

The economy’s main rate is its seven-day reverse repo rate, which it last cut from 1.7% to 1.5% in late September.

The central bank’s comments underline a broader plan to overhaul its policy framework to transition the world’s second-largest economy away from state-directed bank lending.

Analysts say the role of capital markets in financing growth also requires deep structural changes in the economy alongside interest rate reform.

As part of that process, China’s governing Politburo last month eased the nation’s monetary policy stance for the first time in some 14 years to “appropriately loose” from “prudent,” a stance it adopted in 2010

During a high-level economic agenda-setting meeting in December, China’s top leaders vowed to cut interest rates “in a timely manner” and reduce the amount of capital banks must hold in reserve, as part of a broader effort to spur lending and investment in the ailing economy.

The policy announcements come as China braces for more trade tensions with the United States as Donald Trump returns to the White House.

China’s economy showed an over-reliance on manufacturing and exports last year, with household demand disappointing as a severe property market crisis erodes consumer wealth and most government stimulus goes to producers and infrastructure.

Government advisers are recommending Beijing keeps its growth target unchanged this year, but have also called for more forceful fiscal stimulus to bolster depressed domestic demand.

($1 = 7.2994 Chinese yuan renminbi)

(Reporting by Joe Cash in Beijing & Mrinmay Dey in Bengaluru; Editing by Christopher Cushing and Shri Navaratnam)

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Driver in Las Vegas Cybertruck explosion identified as U.S. Army soldier, officials say

Driver in Las Vegas Cybertruck explosion identified as U.S. Army soldier, officials say 150 150 admin

Authorities say the body found inside the Cybertruck that exploded in Las Vegas was burned beyond recognition the coroner made a positive identification, and the military ID and passport recovered at the scene belong to an active-duty Army soldier and Green Beret. CBS News’ Andres Gutierrez reports and Ed O’Keefe has President-elect Donald Trump’s reaction.
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Wayne Osmond, brother of Donny and Marie, dies at age 73

Wayne Osmond, brother of Donny and Marie, dies at age 73 150 150 admin

Wayne Osmond started his musical career as an original member of The Osmonds with his brothers.
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Dollar headed for best week since November on US rates, economic outlook

Dollar headed for best week since November on US rates, economic outlook 150 150 admin

By Rae Wee

SINGAPORE (Reuters) – The dollar was on track for its best weekly performance in over a month on Friday, underpinned by expectations of fewer Federal Reserve rate cuts this year and the view that the U.S. economy will continue to outperform the rest of its peers globally.

The greenback began the new year on a strong note reaching a more than two-year high of 109.54 against a basket of currencies on Thursday as it extended a stellar rally from last year.

Its charge higher has come on the back of a more hawkish Fed and a resilient U.S. economy.

“Looks like dollar strength is here to stay for now in early 2025 given the U.S. exceptionalism story is here to stay, and it still comes with high U.S. yields,” said Charu Chanana, chief investment strategist at Saxo.

“Add to that the uncertainty from policies of the incoming (Donald) Trump administration, and you also get the safety aspect of the dollar looking attractive.”

Ahead of U.S. President-elect Trump’s inauguration on Jan. 20, markets have taken his impending return to office with caution due to uncertainty over his plans for hefty import tariffs, tax cuts and immigration restrictions.

That has in turn given the greenback additional safe haven support.

The dollar index last stood at 109.18 and was on track for a weekly gain of 1.1%, its strongest since November.

The euro was meanwhile among the biggest losers against a towering dollar, having tumbled 0.86% in the previous session to a more than two-year low of $1.022475.

“As far as the euro zone’s concerned, there could be the direct impact of higher trade tariffs on the euro zone or (its) economies, but even perhaps more pertinently, the higher tariffs on China, which will also sort of be that weakness in the euro zone,” said Kyle Rodda, senior financial market analyst at Capital.com.

The common currency last bought $1.0272 and was headed for a 1.6% weekly decline, its worst since November.

Similarly, sterling ticked up 0.04% to $1.2385, after sliding 1.16% on Thursday. It was on track to lose roughly 1.6% for the week.

Also helping the dollar extend its dominance against other currencies was the prospect of widening rate differentials between the U.S. and the rest of the world.

While traders are now pricing in just about 44 basis points worth of rate cuts from the Fed this year, they see more than 100 bps worth of easing from the European Central Bank and roughly 60 bps from the Bank of England.

Elsewhere, the yen rose 0.16% to 157.25 per dollar, but stood not too far from an over five-month low of 158.09 per dollar hit in December.

The Japanese currency has been a victim of the stark interest rate differential between the U.S. and Japan for over two years now, with the Bank of Japan’s caution over further rate increases spelling more pain for the yen.

The yen tumbled more than 10% in 2024, extending its losses into a fourth straight year.

Down Under, the Australian dollar edged 0.2% higher to $0.6216 but remained pinned near a more than two-year low, and was on track to decline 0.2% for the week.

The New Zealand dollar rose 0.17% to $0.56065, but was likewise headed for a weekly loss of 0.66%.

(Reporting by Rae Wee; Editing by Sonali Paul)

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Venezuela opposition leader to travel to Argentina ahead of planned Maduro inauguration

Venezuela opposition leader to travel to Argentina ahead of planned Maduro inauguration 150 150 admin

(Reuters) -Venezuela opposition leader Edmundo Gonzalez, who says he resoundingly won a July presidential election but has been living in Spain after a warrant was issued for his arrest, said on Thursday he will travel to Argentina this weekend.

Gonzalez’s “international tour” comes days ahead of the planned January 10 inauguration of President Nicolas Maduro for his third term.

Gonzalez has repeatedly said he plans to return to Venezuela to be inaugurated as president, despite the pending warrant for alleged conspiracy and a $100,000 reward for information leading to his arrest announced earlier on Thursday by the Venezuelan police investigations unit.

Gonzalez will meet with Argentine President Javier Milei, who is involved in an escalating diplomatic spat with Maduro’s government, at the presidential residence in Buenos Aires, Venezuela’s top opposition group said on X.

Gonzalez shared the post, adding “our tour of Latin America begins. First stop: Argentina.” It was unclear where else Gonzalez planned to travel.

Electoral authorities and the country’s top court say Maduro won the July contest, but have not published full ballot box-level tallies of votes.

Venezuela’s opposition, a number of Western countries and some international organizations have decried the election as non-transparent and have called for the full publication of ballots, with some openly labeling the process fraudulent.

The opposition published ballot box-level tallies on a public website, saying they show Gonzalez, who left Venezuela for Spain in October, easily won the contest.

Argentina’s government said earlier on Thursday it had filed a complaint with the International Criminal Court against Venezuela for detaining a member of its security forces, calling it a “forced disappearance.”

Venezuelan prosecutors say the man is being investigated for alleged links to terrorism.

(Reporting by Julia Symmes Cobb)

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Biden, Trump teams coordinating on New Orleans attack investigation

Biden, Trump teams coordinating on New Orleans attack investigation 150 150 admin

CBS News has learned the Biden administration and the Trump transition team have been in close contact after a man used a car early Wednesday to kill 14 and injure dozens of others on New Orleans’ Bourbon Street. CBS News’ Ed O’Keefe and Scott MacFarlane report.
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Buddy MacKay, a Democrat who briefly served as Florida’s governor, dead at 91

Buddy MacKay, a Democrat who briefly served as Florida’s governor, dead at 91 150 150 admin

TALLAHASSEE, Fla. (AP) — Former Florida Gov. Buddy MacKay, who lost to Jeb Bush in 1998 but still served 23 days in office after the sudden death of Gov. Lawton Chiles, has died. He was 91.

The former Democratic governor took a nap after lunch at his home in Ocklawaha, Florida, on Tuesday and never woke up, his son Ken MacKay told The Associated Press. All of the governor’s adult children were present at the time, he said.

“It was a very peaceful end to a great life,” said MacKay, who hopes his father is remembered as a defender of Florida’s environment and an advocate for minorities.

Floridians honored MacKay not just for his brief service as governor, but his time as a state legislator, Congressman and diplomat.

“We mourn the passing of Buddy MacKay,” Gov. Ron DeSantis posted on X. “A U.S. Air Force veteran and lifelong public servant, MacKay was dedicated to our country and our state. May he rest in peace.”

In a social media post, Bush offered his condolences to MacKay’s family, saying that his one-time competitor had served the state “with honor and distinction.”

MacKay, Chiles’ lieutenant governor for two terms, had been trounced by Bush in the 1998 gubernatorial election when Chiles died six weeks later on Dec. 12, 1998, at the governor’s mansion. That put MacKay in the top job for three weeks, where he focused on overseeing the final stages of the transition to Bush’s administration.

“It was overwhelmingly sad,” MacKay recalled in a 2012 interview with The Associated Press. “(Chiles had) gotten that far through his term and it all just stopped. For me, there was nothing but to be a caretaker and try to help with the transition. The main thing we could do was stay out of the way.”

The MacKays never moved into the mansion and Florida hasn’t had a Democrat in the governor’s office since.

“He was very, very sensitive to the fact he was there as the final caretaker,” the late Democratic political strategist and MacKay adviser Jim Krog once said. “He was clearly conscious of the fact that he was governor and there were some loose ends that needed to be tied up.”

MacKay was out of politics in 1990 when he persuaded Chiles, who had retired from the U.S. Senate two years earlier, to run for governor against incumbent Republican Bob Martinez. The Chiles-MacKay team was elected that November and again in 1994.

MacKay, who also served in the Florida Legislature and U.S. House of Representatives, ran statewide three times and lost each time, but never lost his quiet sense of humor.

“I got out of politics because of illness,” he said the day after being defeated by Bush. “The voters got sick and tired of me.”

An inveterate policy wonk, MacKay finished his political career as a special envoy to Latin America for President Bill Clinton before retiring to his central Florida home near Ocala. MacKay stood by the former president when many Democrats distanced themselves from Clinton in the wake of the Monica Lewinsky scandal. He kept busy in the final years of his life doing pro bono work for the Southern Legal Counsel and also serving in a mediation role in the juvenile court system.

MacKay narrowly missed winning election to the U.S. Senate race in 1988 when he lost to Republican Connie Mack III by less than 1 percentage point. It was the closest statewide race in the state’s history until the 2000 presidential contest between George W. Bush and Al Gore.

In a Democratic primary field that at one time included former governors Claude Kirk — a one-time Republican — and Reubin Askew, who withdrew before the election, MacKay rebounded from a runner-up finish in a six-way primary to win a runoff against then-Insurance Commissioner Bill Gunter.

With Democrats still largely in control of Florida politics, MacKay was expected to sweep past Mack and hold Chiles’ seat.

But Mack, who had also been in the U.S. House, came up with a “Hey Buddy, you’re a liberal,” catchphrase that MacKay couldn’t shake at a time moderate Florida was moving away from traditional Democratic politics.

It took two days after the 1988 election before the official vote count showed Mack had won, by fewer than 34,000 votes out of more than 4 million cast.

Like many of Florida’s leading Democratic politicians of the second half of the 20th century, MacKay began his political career at the height of the state’s integration movement.

MacKay had grown up working in the fields with Black laborers but went to segregated schools and ate in segregated restaurants.

“It was fairly wrenching,” he said. “It was always very awkward. My family was involved with agriculture and I worked many days in the field with African American crews and some of those adults were part of our family and raised me.”

MacKay’s views on race and the potential for desegregation changed dramatically during his time in the U.S. Air Force between 1955 and 1958.

“Not until I went into the military did I see the potential for getting this behind us,” MacKay said. “I walked in there and from the first day it was totally integrated and there wasn’t a problem. It was a very freeing experience.”

Kenneth H. MacKay Jr. was born March 22, 1933, in Ocala.

“In the old South, which I was born into, ‘Buddy’ means junior,” MacKay said. “Judges and school teachers called me Kenneth, but nobody else did. I’m more of a Buddy than a Kenneth.”

He became an attorney and citrus grower after leaving the service. He won election to the state House in 1968, the state Senate in 1974 and to the U.S. House in 1982 before losing his U.S. Senate bid.

MacKay spent his final years at the home he shared with his wife, Anne, on Lake Weir. According to his son Ken, MacKay remained active in his church, and enjoyed tending to his camellias and spending time on the family farm, where they raise citrus and cattle.

___ Kate Payne is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Kallestad is a former Associated Press journalist.

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Bosnia peace envoy declares Serb parliament’s orders illegal

Bosnia peace envoy declares Serb parliament’s orders illegal 150 150 admin

SARAJEVO (Reuters) – Bosnia’s international peace envoy on Thursday sought to keep the country’s European Union integration on track by rejecting the Serb Republic parliament’s orders last week that would have blocked progress.

The lawmakers in Bosnia’s Serb-dominated regional parliament last week ordered Serb delegates in the central government to block legal reforms needed for Bosnia’s integration into the EU.

High Representative Christian Schmidt, whose authority Serbs do not recognise, on Thursday prohibited “any attempt to implement the dangerous elements” of those orders.

The Dayton Accords that ended 3-1/2 years of ethnic war in the Balkan country in 1995 gave the high representative final authority over whether such decisions are allowed under the peace deal.

The peace accords split Bosnia into two autonomous regions, the Orthodox Serb-dominated Serb Republic and a federation dominated by Catholic Croats and Muslim Bosniaks, linked in a weak central government. That secured peace but left Bosnia dysfunctional as a state.

Schmidt’s move on Thursday was part of his efforts to stop Bosnia from sliding into a new political crisis and keep EU integration advancing.

Serb Republic President Milorad Dodik has tried for years to withdraw the region from Bosnia and has sought to stop state institutions from functioning. He is on trial in a Bosnian court on charges of defying Schmidt’s decisions.

(Reporting by Daria Sito-Sucic; Editing by Cynthia Osterman)

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Victims of New Orleans attack remembered

Victims of New Orleans attack remembered 150 150 admin

A ceremony was held to commemorate the 14 people who were killed in the New Year’s attack on Bourbon Street in New Orleans. Now, family members of the victims are speaking out about their loved ones. Tony Dokoupil reports.
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