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2026

Dollar firms as oil climbs, bond rout saps risk appetite

Dollar firms as oil climbs, bond rout saps risk appetite 150 150 admin

By Jiaxing Li

HONG KONG, May 18 (Reuters) – The dollar firmed against most major currencies on Monday as fresh Middle East tensions lifted oil prices and a global bond selloff dented risk appetite, while yen weakness kept traders on alert for possible Japanese intervention.

The euro was last at $1.1609 and sterling fetched $1.3305, both down more than 0.1%.

The risk-sensitive Australian dollar weakened 0.4% to $0.7121, while the New Zealand dollar was little changed at $0.5827.

The dollar index, which measures the greenback against a basket of major currencies, was a touch firmer at 99.393.

Oil prices climbed on Monday, with Brent crude futures rising more than 1% to over $110 a barrel, after a nuclear power plant in the United Arab Emirates came under attack and efforts to end the U.S.-Israeli war with Iran appeared to have stalled.

“It appears conditions for risk and bonds are deteriorating, and conditions for the dollar rally to extend this week are ripe,” analysts at Barclays wrote in a note.

Signs that the Strait of Hormuz will remain clogged for longer are also exerting upward pressure, with the dollar gaining 0.5% to 1% for every 10% rise in oil prices, they added.

A global bond rout also dented risk sentiment, showing little sign of recovery, with Treasury yields staying elevated amid fears that Middle East energy disruptions could fuel inflation.

The yields on benchmark U.S. 10-year notes and the two-year notes, which typically move in step with interest rate expectations for the Federal Reserve, were last at 4.607% and 4.085%, respectively, near their highest in a year.

“Near term, USD may stay better bid on dips if yields remain elevated and markets continue to price a more hawkish Fed reaction function,” Christopher Wong, FX strategist at OCBC, said in a note.

The focus this week will turn to the Federal Open Market Committee’s minutes and U.S. flash Purchasing Managers’ Indexes, which could help clarify how much concern there is within the Fed over persisting inflation, and whether U.S. activity momentum is holding up under tighter financial conditions, he added.

Against the yen, the dollar traded at 158.84, up 0.04% from late U.S. levels, with renewed yen weakness putting investors on alert for possible intervention.

The offshore yuan traded at 6.8163 yuan per dollar ahead of Chinese activity data due later on Monday.

(Reporting by Jiaxing Li in Hong Kong; Editing by Jacqueline Wong)

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North Korea’s Kim calls for stronger frontline units to deter war, KCNA says

North Korea’s Kim calls for stronger frontline units to deter war, KCNA says 150 150 admin

SEOUL, May 18 (Reuters) – North Korean leader Kim Jong Un said plans to strengthen frontline units on the border with South Korea, as well as other major units, were key to “more thoroughly deter war,” state media KCNA reported on Monday.

Kim made the remarks on Sunday at a meeting of commanders of divisions and brigades across the army, KCNA said.

He called for adjusting the training system and expanding practical drills to reflect changes in modern warfare and the development of North Korea’s military, according to KCNA.

Kim also said planned projects should redefine operational concepts in line with rapid modernisation of military and technical equipment, and apply them to unit combat training.

KCNA said Kim stressed ideological loyalty and vigilance against the “arch enemy,” a term North Korea has used for South Korea.

(Reporting by Joyce Lee, Editing by Nick Zieminski)

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Transcript: U.S. Trade Representative Jamieson Greer on "Face the Nation with Margaret Brennan," May 17, 2026

Transcript: U.S. Trade Representative Jamieson Greer on "Face the Nation with Margaret Brennan," May 17, 2026 150 150 admin

The following is the transcript of the interview with U.S. Trade Representative Jamieson Greer that aired on “Face the Nation with Margaret Brennan” on May 17, 2026.
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Republican Representative Massie, critic of Trump, calls president’s attacks ‘desperate’ ahead of primary

Republican Representative Massie, critic of Trump, calls president’s attacks ‘desperate’ ahead of primary 150 150 admin

May 17 (Reuters) – U.S. President Donald Trump’s repeated attacks on intraparty critic Representative Thomas Massie reflect a “desperate” attempt to help his opponent in Tuesday’s Kentucky primary, the lawmaker said Sunday.  

• Trump has targeted Massie, a Republican who has defied the president in Congress over major legislation and the Iran war and led his party’s drive to release government files on the late financier and convicted sex offender Jeffrey Epstein.

• Massie is facing Trump-backed candidate Ed Gallrein, a former U.S. Navy SEAL whom the president hand-picked. Some polls show Massie ahead; others show Gallrein with a lead.

• Trump, who has posted social media attacks on Massie at least four times this weekend, on Sunday called Massie “The Worst Republican Congressman in History” and a “a true negative force!!!”

• The president on Saturday criticized Representative Lauren Boebert, a Colorado Republican, over her support for Massie and said he would welcome a primary challenger to her.

• Trump’s retribution campaign against Republicans who have defied him has been successful. Two-term Republican U.S. Senator Bill Cassidy lost his bid for re-election in Louisiana’s primary on Saturday.

• But Massie poses a new test for Trump’s hold on the Republican Party. Massie, in an appearance Sunday on ABC’s This Week, said he gets a fundraising boost each time Trump mentions him on social media and speculated that the president is “desperate” to get rid of him.

(Reporting by Brad Brooks in Colorado; Editing by Sergio Non and Chizu Nomiyama)

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Military jets’ crew members safely ejected after Idaho air-show collision, Navy says

Military jets’ crew members safely ejected after Idaho air-show collision, Navy says 150 150 admin

By Matt Tracy

WASHINGTON, May 17 (Reuters) – Four crew members involved in a mid-air collision of military jets at an air show ejected safely on Sunday outside Mountain Home Air Force Base in Idaho, the U.S. Navy said.

Two E/A-18G Growler jets collided in mid-air 2 miles from the base during the two-day Gunfighter Skies Air Show, said Cmdr. Amelia Umayam, a spokesperson for Naval Air Forces, U.S. Pacific Fleet. 

The two jets with four air crew collided “while performing an aerial demonstration” at around 12:10 p.m. MDT as part of the air show, Umayam added, noting that all four crew members ejected safely.

“The incident is under investigation. More information will be released as it becomes available,” Umayam said.

The air base was locked down after the crash, according to Mountain Home’s Facebook page.

The air show’s official site lists the U.S. Navy’s E/A-18G “Vikings” Growler Demo Team as one of the scheduled performers. The jets involved in the collision were assigned to Electronic Attack Squadron 129 from Whidbey Island, Washington, Umayam said. 

Sunday marked the first Gunfighter Skies Air Show in eight years. A hang glider pilot died in a crash during the last show in 2018.

The Mountain Home Fire Department, Mountain Home Police Department and Elmore County emergency management coordinator did not immediately respond to requests for comment. 

(Reporting by Matt Tracy in Washington, D.C., and Sinead Carew in New York; Editing by Chris Reese, Sergio Non and Mark Porter)

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Venezuela says it deported a close ally of Maduro to face criminal proceedings in US

Venezuela says it deported a close ally of Maduro to face criminal proceedings in US 150 150 admin

MIAMI (AP) — Venezuela’s government said Saturday it deported a close ally of Nicolás Maduro facing several criminal investigations in the U.S. less than three years after the businessman was pardoned by President Joe Biden as part of a prisoner swap.

The decision marks a stark reversal for Alex Saab, who Maduro fought tooth and nail to bring home after his previous international arrest in 2020. Now, the Colombian-born insider, long described by U.S. officials as Maduro’s “bag man,” may be asked to testify against his former protector, who is awaiting trial on drug charges in Manhattan after being captured in a shock raid by the U.S. military in January.

The Venezuelan immigration authority in a short statement Saturday did not explicitly say where it had sent Saab but said the decision was made based on several ongoing criminal investigations in the U.S. The statement’s reference to Saab only as a “Colombian citizen” appeared to be a nod to Venezuelan law, which prohibits the extradition of its nationals. Following his last arrest, Venezuela’s government submitted a copy of what it said was Saab’s Venezuelan passport to a U.S. court, with then Vice President Delcy Rodríguez — now acting President — claiming he was an “innocent Venezuelan diplomat” who had been illegally “kidnapped” while on a humanitarian mission to Iran to circumvent the “immoral, imperial blockade” imposed by the United States.

Saab, 54, amassed a fortune through Venezuelan government contracts. But he fell out of favor with the country’s new leadership that took power following Maduro’s ouster. Since taking over from Maduro on Jan. 3, Rodríguez demoted Saab, firing him from her Cabinet and stripping him of his role as the main conduit for foreign companies looking to invest in Venezuela. For months conflicting news accounts have circulated that he was imprisoned or under house arrest.

His removal to the United States is likely to deepen divisions inside Rodríguez’s fragile ruling coalition of Chavistas, named for the movement started by the late Hugo Chávez.

Rodríguez has generated enormous goodwill in Washington and successfully stalled any talk of new elections as she bends to the Trump administration’s demands to open up its oil and mining industries to American investment.

But those concessions to what Chavistas have long decried as the U.S. “Empire” have angered many of her more radical, ideologically driven allies, some of whom, like Interior Minister Diosdado Cabello, wield great influence inside the Venezuelan security forces and face criminal charges themselves in the U.S.

The Associated Press reported in February that federal prosecutors have been digging for months into Saab’s role in an alleged bribery conspiracy involving Venezuelan government contracts to import food.

The investigation stems from a 2021 case the Justice Department brought against Saab’s longtime partner, Alvaro Pulido, a former law enforcement official said. That prosecution, out of Miami, centers around the so-called CLAP program set up by Maduro to provide staples — rice, corn flour, cooking oil — to poor Venezuelans struggling to feed themselves at a time of rampant hyperinflation and a crumbling currency.

Saab is identified in the indictment as “Co-Conspirator 1″ and allegedly helped set up a web of companies used to bribe a pro-Maduro governor who awarded the business partners a contract to import food boxes from Mexico at an inflated price.

Saab was first arrested in 2020 after his private jet made a refueling stop in Cape Verde en route to Iran on what the Venezuelan government described as a humanitarian mission to circumvent U.S. sanctions.

Rodríguez celebrated Saab’s return in 2023 as a “resounding victory” for Venezuela over what she called a U.S.-led campaign of lies and threats. But several Republicans criticized the deal, including Sen. Chuck Grassley, of Iowa, who wrote a letter to then-Attorney General Merrick Garland saying history “should remember (Saab) as a predator of vulnerable people.”

Over the objections of law enforcement, Biden in 2023 agreed to free Saab in exchange for the release of several imprisoned Americans and Venezuela’s return of a fugitive foreign defense contractor known as “Fat Leonard.” The deal came as part of an effort by the Biden White House to roll back sanctions and lure Maduro into holding a free and fair presidential election.

Biden’s pardon of Saab was narrowly tailored to a 2019 indictment — the case number is cited in the pardon itself — related to a contract he and Pulido allegedly won through bribes to build low-income housing units in Venezuela that were never built.

Should Saab be returned to U.S. custody, he could become a valuable witness against Maduro.

The businessman secretly met with the Drug Enforcement Administration before his first arrest and, in a closed-door court hearing in 2022, his lawyers revealed that the businessman, for years, helped the DEA untangle corruption in Maduro’s inner circle. As part of that cooperation, he forfeited more than $12 million in illegal proceeds from dirty business dealings.

Saab’s Miami-based attorney, Neil Schuster, declined to comment. The Justice Department did not immediately respond to a request for comment.

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Associated Press writer Eric Tucker contributed to this report from Washington.

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This story is part of an investigation that includes the FRONTLINE documentary “Crisis in Venezuela,” which aired Feb. 10, 2026, on PBS. Watch the documentary at pbs.org/frontline, in the PBS App and on FRONTLINE’s YouTube channel.

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China’s economy slows in April as output, retail sales sharply undershoot forecasts

China’s economy slows in April as output, retail sales sharply undershoot forecasts 150 150 admin

BEIJING, May 18 (Reuters) – China’s economic growth lost steam in April as industrial output and retail sales growth sharply missed expectations as the Asian powerhouse grappled with higher energy costs from the Iran war and sluggish domestic demand.

Data from the National Bureau of Statistics (NBS) showed on Monday that factory output grew 4.1% from a year earlier last month, compared with a 5.7% rise in March and a Reuters poll forecast for 5.9% growth. It marked the slowest growth since July 2023.

Retail sales, a gauge of consumption, rose just 0.2% in April, cooling sharply from 1.7% in March and marking the weakest gain since December 2022. The figures were also well below forecast centred on a 2% increase.

Household consumption has remained fragile. Domestic car sales dropped 21.6% in April from a year earlier, marking the seventh straight month of decline, even as automakers ramped up efforts to expand in overseas market to offset weakness at home.

Adding to the gloom, fixed-asset investment contracted 1.6% in the first four months of 2026, compared with a 1.7% rise in the January-March period.

Economists pointed to a drop in the official construction purchasing managers’ index, and heavy rainfalls in parts of southern China as some of the factors dragging on investment growth.

The April figures offered early signs that China’s first-quarter momentum was already fading.

The economy expanded 5.0% in the first three months of the year, at the upper end of Beijing’s full-year target range of 4.5% to 5.0%. But analysts have warned that the recovery is running on uneven ground as industrial output continues to outstrip domestic demand.

While a protracted downturn in the property market remains a drag on growth, the Middle East conflict has exposed the economy to external risks at a time of fragile consumption at home.

China’s property investment contraction widened in April year-on-year.

Better-than-expected exports and China’s domestic fuel-pricing controls have helped weather the energy shock, but higher input costs could squeeze manufacturers’ margins and further hurt household spending if the conflict drags on.

Top Chinese leaders have pledged to strengthen the country’s energy security, accelerate technological self-sufficiency and seek greater control of supply chains in response to external shocks.

The Politburo also reiterated China’s “proactive” fiscal stance and “appropriately loose” monetary policy, language broadly in line with previous meetings and suggesting no imminent additional stimulus plans.

(Reporting by Ethan Wang, Joe Cash and Ellen ZhangEditing by Shri Navaratnam)

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Saudi says it intercepted three drones that entered from Iraqi airspace

Saudi says it intercepted three drones that entered from Iraqi airspace 150 150 admin

CAIRO, May 17 (Reuters) – Saudi Arabia on Sunday said it intercepted three drones after they entered its territory from Iraqi airspace.

The kingdom’s defense ministry said it would take the necessary operational measures to respond to any attempt to violate its sovereignty and security.

While hostilities during the Iran conflict have largely been scaled down since a ceasefire came into effect in April, drones have been launched from Iraq towards Gulf countries, including Saudi Arabia and Kuwait.

(Reporting by Menna Alaa El-Din and Ahmed Tolba; Editing by Chris Reese)

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Exorbitant World Cup ticket prices creating sticker shock for soccer fans

Exorbitant World Cup ticket prices creating sticker shock for soccer fans 150 150 admin

FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, “I will personally bring him a hot dog and a Coke.”
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"Survivor" superfan builds her own tribe

"Survivor" superfan builds her own tribe 150 150 admin