Chancellor earmarks billions in welfare cuts

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The Trump administration believes Ukraine is willing to proceed with the US's demand for a ceasefire with Russia, as US officials prepare for talks in Saudi Arabia. President Trump has pressured Ukrainian President Zelensky to accept the ceasefire without a security guarantee, following a recent clash at the White House. Zelensky is under pressure to make concessions while seeking security guarantees, as the US aims to discuss a peace framework and a minerals deal during...

China's sovereign bond prices fell, leading to higher yields, as investors reduced holdings in anticipation of increased fiscal spending to boost growth and delay interest rate cuts. Yields on 10-year government bonds rose over 10 basis points to 1.865%, hitting their highest levels this year, while 30-year bond yields surpassed 2% and one-year note yields reached 1.643%. This shift follows the Chinese government's plans for fiscal easing, including a record-high fiscal budget deficit and a...

Australia's prime minister warned that the aftermath of a severe tropical storm was ongoing in parts of Queensland and New South Wales, where flooding caused one death and multiple injuries. Despite the storm weakening before landfall, over 200,000 properties were without power, schools were closed, and evacuations were underway as water levels continued to rise. Cleanup efforts began in some areas as welfare payments were announced for affected workers, with authorities urging residents to remain...

A federal judge awarded nearly $2 million in damages to the mother and son of Ulises Valladares, a Texas man killed by an FBI agent during a botched rescue attempt in 2018. The judge determined that the agent, Gavin Lappe, was negligent in shooting Valladares, who was bound and blindfolded, without confirming his target. Despite Lappe being protected by qualified immunity, the judge ruled that he was the sole cause of Valladares' death due to...

Passengers lined up at Rhine-Main Airport in Frankfurt, Germany ahead of a surprise strike at Hamburg Airport affecting over 40,000 passengers on Sunday. The strike, organized by the ver.di union, aimed to pressure company representatives during contract negotiations. Despite disruptions and cancellations, the union's goal is to negotiate improved benefits for its members, causing frustration among travelers impacted by the sudden walkouts. Full Article