Powell: US economy faces ‘significant risks’

Bloomberg Federal Reserve Chairman Jerome Powell said the US economy is in a favourable place but faces “significant risks,” reinforcing bets for another interest-rate cut next month though the remarks failed to mollify President Donald Trump. “Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States,” ...

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Woodford raises $796mn since freezing flagship

Bloomberg Neil Woodford has raised at least $796 million by selling listed assets held in his frozen flagship fund, as he prepares for a potential line of clients yanking their money when the fund reopens. The embattled stock picker shocked the financial world in early June by halting withdrawals from his LF Woodford Equity Income Fund after a run of ...

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Dutch closing Europe’s biggest gas field raises concerns for hub

Bloomberg A decision to close Europe’s biggest natural gas field is starting to raise concerns about the impact on the region’s biggest trading hub for the fuel. The Dutch Title Transfer Facility has grown into Europe’s largest gas market in the past few years, surpassing the UK, partly because of the scale of flows converging in the Netherlands. A plan ...

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Trump says ‘certainly possible’ Putin could be invited to G-7

Bloomberg President Donald Trump says it’s “certainly possible” he’ll invite Vladimir Putin as a guest to next year’s Group of Seven summit in the US, setting up a flashpoint with fellow nations who ejected the Russian leader over annexation of Crimea. Trump spoke in Biarritz, France, on Sunday as the day’s session of the G-7 was set to get underway. ...

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Kim guides test fire of new rocket launcher

Bloomberg North Korea’s Kim Jong-un guided a test fire of a newly developed super-large multiple rocket launcher, setting the stage for one of the busiest weekends for missile firings since talks began with US President Donald Trump more than a year ago. The test firing comes after South Korea’s Defense Ministry said the same day North Korea launched two ballistic ...

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Seoul holds military drills at islets disputed with Japan

Bloomberg South Korea’s armed forces started military training near disputed islands also claimed by Japan on Sunday amid increasing tensions between the two nations. The drills involving South Korea’s navy, marine corps, air force and army will run through Monday, the nation’s Defense Ministry said. Japan swiftly decried the move and called for a halt to the exercises, which it ...

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Tunisia’s Karoui arrest decried as ‘dangerous’

Bloomberg Two of Tunisia’s main parties criticised the arrest of a media mogul-turned presidential candidate on tax evasion changes and raised questions over the role of the judiciary in the North African nation’s politics. Nabil Karoui, the owner of Nessma TV and a self-proclaimed champion of the poor, was detained after the issuing of an arrest warrant in a case ...

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HK police use water cannons on protesters

Bloomberg Hong Kong police deployed water cannons for the first time after firing multiple volleys of tear gas at protesters as social unrest continued for the 12th weekend in the Asian financial centre. Police and protesters were involved in several standoffs in the western New Territories district of Tsuen Wan on Sunday. Hong Kong Chief Executive Carrie Lam held a ...

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Swift slams US politics and Trump’s ‘autocracy’

Bloomberg Taylor Swift said US President Donald Trump probably thinks of the US as an “autocracy” and that she has become disillusioned with the state of American politics in an interview with The Guardian newspaper. The criticism of the president is unusually pointed for the singer, who for years declined to publicise her political beliefs. She now says she regrets ...

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