Floods on Indonesia's holiday island of Bali have killed at least nine this week and affected 600 people, blocking off major roads in the capital and disrupting a busy travel destination, officials said on Wednesday. Continuous heavy rains between Tuesday evening and Wednesday caused the floods and killed five people in Bali's capital Denpasar, Abdul Muhari, the spokesperson of the country's disaster mitigation agency said in a statement. Four more people were killed in the regions of Jembrana, Gianyar, and Badung, Abdul added. Two people were still missing. Out of 600 people affected,...
The ISM Services PMI unexpectedly fell to 50.1 in July 2025 from 50.8 in June, below forecasts of 51.5. The reading showed the services sector nearly stagnated, with seasonal and weather factors having a negative impact on business. A slowdown was seen for business activity/production (52.6 vs 54.2), new orders (50.3 vs 51.3) and inventories (51.8 vs 52.7). Also, price pressures intensified to the highest since October 2022 (69.9 vs 67.5), with the most common topic among survey panelists remaining tariff-related impacts, particularly in commodities. In addition, employment fell faster...
President Donald Trump said Treasury Secretary Scott Bessent told him he did not want to be nominated to replace Jerome Powell as the next chair of the Federal Reserve. "I asked him just last night, is this something you want? Nope, I want to stay where I am," Trump said Tuesday in an interview with CNBC. "He's doing a great job, and he wants to do what he's doing, so I just take him off. He does not want it," Trump continued. "He likes being Treasury secretary. He's doing a really good job." Trump said he was considering four candidates — including former...
Russia accused the United States on Tuesday of exerting illegal trade pressure on India after U.S. President Donald Trump threatened again to raise tariffs on India over its purchases of Russian oil. "We hear many statements that are in fact threats, attempts to force countries to cut trade relations with Russia. We do not consider such statements to be legal," Kremlin spokesman Dmitry Peskov told reporters. "We believe that sovereign countries should have and do have the right to choose their own trading partners, partners for trade and economic cooperation, and to choose for themselves...
The 15% tariff that European Union goods face when entering the United States is all-inclusive, unlike the deals some other countries have struck with Washington, a senior EU official said on Tuesday. The tariff framework will apply broadly to EU exports, except for steel and aluminium, the official said. The 15% rate will also apply to cars and car parts, with no quotas or limits, he added. "What we have obtained in our deal is the best available treatment," the EU official told reporters, while adding that the 27-nation bloc was not celebrating the 15% rate, but that it considered it was...
U.S. President Donald Trump again threatened on Monday to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack "unjustified" and vowed to protect its economic interests, deepening the trade rift between the two countries. In a social media post, Trump wrote, "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine." "Because of this, I will be substantially raising...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have...