The IMF has slightly raised its global growth forecasts for 2025 to 3% and 2026 to 3.1%, attributing this to strong pre-tariff purchases and a reduced US effective tariff rate; however, it warns of major risks including potential tariff rebounds and geopolitical tensions. Despite resilience in the global economy, concerns remain about the impact of high tariffs on growth and inflation, with the US expected to see growth of 1.9% in 2025.
A 27-year-old man, Shane Devon Tamura, wearing body armor and armed with an M4 rifle, killed four people, including an off-duty police officer, in a Midtown Manhattan office building before taking his own life. The shooting occurred around 6:30 p.m. at 345 Park Ave., leaving a fifth person critically injured, with the motive under investigation. Want More Context? 🔎
Read moreTemperature hits 41.2 degrees Celsius (106.16 degrees Fahrenheit) after hottest June on record.Japan has recorded its highest temperature of 41.2 degrees Celsius in Tamba city, surpassing the previous record, with heatstroke alerts issued for 33 prefectures amid a recent surge in heat-related hospitalizations and deaths. This extreme heat follows Japan's hottest June on record, with average temperatures significantly above normal, highlighting ongoing climate change concerns. Want More Context? 🔎
Read moreMalta's Prime Minister Robert Abela announced that the country will recognize the state of Palestine during the UN General Assembly in September, emphasizing a commitment to lasting peace in the Middle East. This declaration follows similar announcements from UK Prime Minister Keir Starmer and France, with Abela having initially planned recognition in May during a postponed conference on Palestine. Want More Context? 🔎
Read moreA powerful 8.8-magnitude earthquake struck off the Kamchatka Peninsula in Russia, leading to tsunami warnings across multiple Pacific nations and the evacuation of around 2,000 residents. Waves up to four meters high were reported, with some areas experiencing 13-foot surges, prompting emergency declarations and ongoing seismic activity updates. Want More Context? 🔎
Read moreThe U.S. ambassador to Canada, Pete Hoekstra, addressed business and political leaders in Winnipeg, cautioning them not to "bet against America" amid protests outside the venue. During his speech, he humorously noted the interest of the European Union and Japan in purchasing Ontario-made vehicles, highlighting Canada's reliance on the U.S. market. Want More Context? 🔎
Read moreMore high-income Americans are struggling with credit card and auto loan delinquencies, which have more than doubled since 2023, indicating broader financial challenges despite previously weathering economic shifts better than lower-income households. This trend, driven by a weaker job market for white-collar workers and rising housing costs, raises concerns about potential impacts on consumer spending and the overall economy. Want More Context? 🔎
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