Russia says U.S. Golden Dome project undermines strategic stability

Russia says U.S. Golden Dome project undermines strategic stability

MOSCOW (Reuters) -The United States' Golden Dome project undermines the foundations of strategic stability as it involves the creation of a global missile defence system, Russian Foreign Ministry spokeswoman Maria Zakharova said on Tuesday. The $175-billion project, proposed by U.S. President Donald Trump, is aimed at blocking threats from China and Russia. (Reporting by Dmitry Antonov; Editing by Alexander Marrow)

byDan Dunne

in

May 27, 2025

Russia says U.S. Golden Dome project undermines strategic stability

Russia says U.S. Golden Dome project undermines strategic stability MOSCOW (Reuters) -The United States' Golden Dome project undermines ...

Read More

US stock futures rally after long weekend on trade reprieve

US stock futures rally after long weekend on trade reprieve

(Reuters) -U.S. stock index futures jumped on Tuesday after President Donald Trump rolled back his threat of steep tariffs against the EU and tensions between the United States and the European bloc cooled as traders returned after the Memorial Day break. On Sunday, Trump backed off from his threat to impose 50% tariffs on EU imports next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. He had said on Friday that he was recommending a 50% tariff effective June 1, expressing frustration that trade negotiations with the EU were not moving quickly enough. "However, we're still in the dark as to whether talks will lead anywhere, despite EU preference of a deal over escalation," Rabobank analysts said in a note. Asian and European markets were mixed after rising on Monday, although moves in U.S. assets were more pronounced as traders returned after the long weekend. At 04:33 a.m. ET, Dow E-minis were up 526 points, or 1.26%, S&P 500 E-minis were up 85.75 points, or 1.47%, and Nasdaq 100 E-minis were up 346.25 points, or 1.65%. Most megacap and growth stocks jumped in premarket trading. Apple was up 1.9%, Alphabet rose 2.3% and Tesla climbed 2.5%. Trump Media & Technology Group advanced 10.3% after a media report said Trump's social media firm planned to raise about $3 billion to spend on cryptocurrencies such as bitcoin. Shares of semiconductor industry bellwether Nvidia kicked off the week with a 2.8% gain. The company is slated to report quarterly earnings after markets close on Wednesday. In economic data, the May consumer confidence report is due shortly after markets open on Tuesday, while minutes from the U.S. Federal Reserve's last policy meeting are scheduled to be released on Wednesday. A number of Fed officials are expected to make public remarks through the week. Minneapolis Fed President Neel Kashkari on Tuesday called for holding interest rates steady until there is clarity on how higher tariffs impact inflation. Personal Consumption Expenditure data, the Fed's favored indicator for inflation, for May and a second estimate of first-quarter GDP are also scheduled for later this week. Wall Street witnessed sharp weekly losses on Friday as worries about mounting U.S. debt and Trump's latest shakeup of trade policy sparked a broad selloff. Credit rating agency Moody's cutting the U.S. credit rating and Trump's sweeping tax bill - that is expected to substantially expand federal debt - passing a House vote added to the concerns. The S&P 500 is about 6% from record highs, although it has rebounded sharply from April lows as easing trade concerns and tame inflation data spurred a risk-on rally. On the downside, shares of gold miners including Newmont fell about 2% as gold prices slipped more than 1%. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Pooja Desai)

byDan Dunne

in

May 27, 2025

US stock futures rally after long weekend on trade reprieve

US stock futures rally after long weekend on trade reprieve (Reuters) -U.S. stock index futures jumped on Tuesday after President Donald Tru...

Read More

Calin Georgescu, frontrunner in Romania's canceled election, announces withdrawal from politics

Calin Georgescu, frontrunner in Romania's canceled election, announces withdrawal from politics

BUCHAREST, Romania (AP) — Calin Georgescu, thecontroversial populistwhose bid for Romania's presidency last year resulted in the annulment of an election in the European Union and NATO member country, announced he is stepping away from political life. Georgescu upended Romania's political landscape last November when he ran as an independent andunexpectedly surged to frontrunnerin the first round of the presidential election, going from an obscure candidate to beating the incumbent prime minister. "I choose to be a passive observer of public and social life," the 63-year-old said in a video posted online late Monday. "I choose to remain outside any political party structure … I am not affiliated with any political group in any way." Despite denying any wrongdoing, Georgescu was barred from the tense election rerun held in May, won by pro-EU candidateNicusor Dan, who wasofficially sworn in on Monday. Dan, a mathematician and former Bucharest mayor, beat the hard-right nationalist George Simion, who became Georgescu's nominal successor. Georgescu said he made his decision to take a step back following the conclusion of the presidential race, which for him indicated "the sovereignist movement has come to a close." "Even though this political chapter has ended, I am convinced that the values and ideals we fought for together remain steadfast," he said. "My dear ones, I have always said that we would make history, not politics." The outcome of Georgescu's success in last year's chaotic election cycle sent shockwaves through Romania's political establishment. It also left many observers wondering how most local surveys had put him behind at least five other candidates. Despite what appeared to be a sprawling social media campaign promoting him, Georgescu had declared zero campaign spending. A top Romanian court then made theunprecedented move to annul the electionafter allegations emerged of electoral violations and Russian interference. In February,prosecutors opened criminal proceedingsagainst Georgescu, accusing him of incitement to undermine the constitutional order, election campaign funding abuses, and founding or supporting fascist, racist, xenophobic, or antisemitic organizations, among other charges. On Tuesday, he was due to appear at the prosecutor's office in Bucharest. Once a member of Simion's hard-right Alliance for the Unity of Romanians, Georgescu left the party in 2022 after a period of infighting. He was accused by colleagues of being pro-Russian and critical of NATO, the U.S.-led military alliance to which Romania belongs. He sparked controversy for describing Romanian fascist and nationalist leaders from the 1930s and 1940s as national heroes. He has also praised Russian President Vladimir Putin in the past as "a man who loves his country" and has questioned Ukraine's statehood, but he claims not to be pro-Russian. After Romania's decision to cancel the election last year, Georgescu became a cause célèbre among nationalists, with support coming from figures such as U.S. Vice President JD Vance and tech billionaireElon Musk— who both criticized Romania for annulling the vote. Georgescu has argued the election was "canceled illegally and unconstitutionally," and after he was barred from the May rerun, he accused the authorities of "inventing evidence to justify the theft" of the elections. Earlier this year, thousands of protesters took to the streets of Bucharest in a show of support for Georgescu, who cemented his status as a persecuted anti-system candidate, railing against a corrupt political class. "I deeply understand what many of you have gone through: you suffered, you were harassed, humiliated, wronged, and marginalized," Georgescu said Monday, adding he might return to politics "if a serious opportunity arises that could bring real benefits to Romania and the Romanian people."

byDan Dunne

in

May 27, 2025

Calin Georgescu, frontrunner in Romania's canceled election, announces withdrawal from politics

Calin Georgescu, frontrunner in Romania's canceled election, announces withdrawal from politics BUCHAREST, Romania (AP) — Calin Georgesc...

Read More

A leading medical group warns of a rise in cholera cases and new outbreak in Sudan

A leading medical group warns of a rise in cholera cases and new outbreak in Sudan

CAIRO (AP) — A leading medical group warned on Tuesday of a rising number of cholera cases in war-tornSudanas a newoutbreak of the waterborne diseasegrips the country, and said its teams have treated hundreds of patients in the region of the capital, Khartoum. Joyce Bakker, the Sudan coordinator for Doctors Without Borders — also known as Médecins Sans Frontières or MSF — said that the alarming spike began in mid-May, with Khartoum's twin city, Omdurman, as the epicenter. She said MSF treated almost 2,000 suspected cholera cases in the past week alone. There were no immediate official figures of fatalities from cholera in this latest outbreak, though an aid worker said he was told on Monday of 12 people dying of cholera. In March, MSF said that 92 people had died of cholera in Sudan's White Nile State, where 2,700 people had contracted the disease since late February. Sudanplunged into war more than two years ago, when tensions between the Sudanese army and its rival paramilitary Rapid Support Forces group, or RSF, exploded with battles in Khartoum and across the country. Since then, at least 20,000 people have been tallied as being killed, though the number is likely far higher, and the African nation has been engulfed by what the United Nations says is theworld's largest humanitarian crisis. More than 14 million people have been displaced and forced from their homes and disease outbreaks, famine and atrocities have mounted asthe country entered its third year of war. Sudan's Health Minister Haitham Ibrahim said on Saturday that the recent increase in cholera cases is estimated to average 600 to 700 per week, over the past four weeks. He attributed the surge to the return of many Sudanese to the Khartoum region — people who had fled their homes to escape the fighting and who are now coming back. Their returns have strained the city's dwindling water resources, he said. Last week, theSudanese military said it had regained control of the Greater Khartoum areafrom the paramilitary forces. On Monday, Mohanad Elbalal, co-founder of the Khartoum Aid Kitchen, said he was told that 12 people had died of cholera in Omdurman, including a relative of one of his kitchen staff. Bakker, the MSF coordinator, said Tuesday that the group's treatment centers in Omdurman are overwhelmed and that the "scenes are disturbing." "Many patients are arriving too late to be saved," she said. "We don't know the true scale of the outbreak, and our teams can only see a fraction of the full picture." She called for a united response, including water, sanitation and hygiene programs and more treatment facilities.

byDan Dunne

in

May 27, 2025

A leading medical group warns of a rise in cholera cases and new outbreak in Sudan

A leading medical group warns of a rise in cholera cases and new outbreak in Sudan CAIRO (AP) — A leading medical group warned on Tuesday of...

Read More

Ahead of trade talks, Brussels seeks detail on companies' US spending

Ahead of trade talks, Brussels seeks detail on companies' US spending

By Victoria Waldersee and Christina Amann BERLIN (Reuters) -European policymakers have asked the bloc's leading companies and CEOs to swiftly provide detail of their U.S. investment plans, according to two sources familiar with the matter, as Brussels prepares for trade talks with Washington. Members of the Confederation of European Business, also known as BusinessEurope, an alliance of 42 federations across the region, received a survey from the European Commission on Monday. It asked for information on upcoming U.S. investments with the instruction to respond as soon as possible, one source said. A similar note seeking information on investment plans for the next five years was sent to the 59-person European Roundtable for Industry, a second source said, with a note that the request came personally from European Commission President Ursula von der Leyen. BusinessEurope, the European Roundtable for Industry and the European Commission did not immediately respond to requests for comment. The sources asked not to be named because they were not authorised to speak publicly on the issue. The Commission, which oversees trade policy for the 27-nation European Union, is stepping up efforts to secure a deal with the United States to end U.S. import tariffs on EU goods, or at least prevent any increases. The Commission is trying to establish what might satisfy U.S. President Donald Trump, having offered a deal in which both sides move to zero tariffs on industrial goods, and the EU buys more soybeans, arms and liquefied natural gas. Trump has made clear a chief goal of his tariffs is to re-industrialise the United States, towards which European corporate investment could contribute. Frustrated at the slow pace of negotiations, Trump threatened to raise tariffs on the bloc to 50% on June 1, but backtracked after a call with von der Leyen on Sunday. EU diplomats briefed late on Monday said they were told the two leaders did not go into substance, but agreed contacts should increase and talks accelerate. European Trade Commissioner Maros Sefcovic on Monday spoke in what he described as good calls with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, with whom he has previously had tougher talks. "The EU Commission remains fully committed to constructive efforts at pace towards an EU-US deal. We continue to stay in constant contact," he wrote on X. The EU wants to see an end to 25% tariffs on steel and cars and for Trump to drop his "reciprocal" tariff, which was provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July. (Reporting by Victoria Waldersee and Christina Amann in Berlin, Philip Blenkinsop in Brussels, Editing by Friederike Heine and Barbara Lewis)

byDan Dunne

in

May 27, 2025

Ahead of trade talks, Brussels seeks detail on companies' US spending

Ahead of trade talks, Brussels seeks detail on companies' US spending By Victoria Waldersee and Christina Amann BERLIN (Reuters) -Europ...

Read More