Trump boasts US is the ‘hottest country in the world' during meeting with European Commission president
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Business Insider
27 minutes ago
- Business Insider
Trump considers skipping G20 summit, slams South Africa's 'very bad' policies
United States President Donald Trump has indicated he may not attend the upcoming G20 summit scheduled to take place in South Africa this November, citing his disapproval of the country's policies. President Trump may skip the upcoming G20 summit in South Africa due to policy disagreements. Tensions between the U.S. and South Africa have escalated over issues including land reform laws, foreign policy stances, and relations with BRICS nations. Trump's potential absence highlights growing diplomatic friction, which could impact U.S.–Africa relations long-term. Trump's remarks come amid a deepening strain in U.S.–South Africa relations, fueled by long-standing disagreements over a range of issues including South Africa's land reform laws, its pro-Palestinian stance in the Israel–Gaza conflict, and its growing alignment with BRICS nations. These tensions have prompted the Trump administration to impose multiple sanctions on South Africa, including a 30% tariff on selected South African goods, a move that has further deteriorated bilateral relations. Speaking to reporters aboard Air Force One, Trump said, 'I think maybe I'll send somebody else because I've had a lot of problems with South Africa. They have some very bad policies.' South African officials have yet to issue a formal response to the statement. However, analysts warn that Trump's comments could escalate diplomatic friction ahead of the summit, which many see as a pivotal opportunity for developing countries to press for more inclusive global governance. Trump's policy dispute with South Africa Since the start of his second term in 2025, U.S. President Donald Trump has intensified tensions with South Africa, reviving a diplomatic chill driven by ideological rifts and competing global alliances. His administration has openly criticized South Africa's growing ties with Russia and China, its opposition to Western foreign policy, and its leadership role in BRICS and the Global South. The strain deepened earlier this year when US Secretary of State, Senator Marco Rubio declined an invitation to a G20 preparatory meeting in Johannesburg, citing South Africa's alignment with anti-Western regimes. Soon after, the White House instructed the U.S. Embassy in Pretoria to avoid making logistical arrangements for the G20 summit, signaling a potential boycott unless South Africa altered its stance. The friction reflects Washington's broader frustration with Pretoria's increasingly independent foreign policy, including support for Palestine, resistance to U.S.-backed sanctions, and its decision to host Russian President Vladimir Putin despite an ICC warrant. With the G20 summit now in focus, Trump's administration sees South Africa as part of a rising bloc challenging U.S. influence. What began as diplomatic friction has grown into a full-blown policy standoff that could redefine U.S.–Africa relations for years to come. Trump's potential absence from the summit could have diplomatic implications, as it would mark a rare snub of a major global economic forum hosted on African soil.
Yahoo
an hour ago
- Yahoo
Hedge fund tycoon Hosking says rival Telegraph bid "ready to go"
The hedge fund founder enlisted to back a bid for The Daily Telegraph says the offer is "ready to go" if a takeover of the broadsheet title involving sovereign Gulf money runs into further regulatory problems. Sky News has learnt that Jeremy Hosking, the prominent City figure who co-founded Marathon Asset Management, is pledging to inject £100m of his own money into the newspaper group if the self-styled 'British bid' of which he is part is successful. Mr Hosking, who now runs Hosking Partners, has been working with Dovid Efune, the owner of the New York Sun, in an effort to gain control of the Telegraph for several months. Money latest: They have been thwarted, though, by an agreement reached with RedBird Capital Partners, the US-based investment firm, to buy the titles for £500m following a two-year battle which has plunged the Telegraph into a protracted state of limbo. RedBird's bid includes tens of millions of pounds of funding from IMI, a state-backed Abu Dhabi vehicle, which cleared a key hurdle last week when the House of Lords voted against a 'fatal motion' which would have blocked the sovereign investment. The outcome of the vote was not without fierce debate, with 155 peers supporting the ban. IMI is controlled by Sheikh Mansour bin Zayed Al Nahyan, the vice-president of the United Arab Emirates and ultimate owner of Manchester City Football Club. Speaking through Mr Efune, Mr Hosking said in a statement on Wednesday morning: "We have been following the latest developments closely and with the best outcome for all Telegraph stakeholders front of mind. "We understand from the Lords debate last week that there is now a legal requirement for the government to formally investigate all the foreign government ties that may result in influence over the current preferred buyer. "Should the buyer be deemed unsuitable, our "British Bid" is ready to go. "We believe our current capitalization is more than adequate to replace the controlling shareholder's portion of the deal. "My own personal commitment is £100m in equity capital." Further details of the financing lined up by Mr Efune's consortium remain unclear, including the level of debt attached to his prospective offer. The RedBird-led acquisition of the Telegraph remains subject to investigations by both Ofcom and the Competition and Markets Authority, which are likely to delay completion of the deal into next year. Sky News previously revealed that Sir Leonard Blavatnik, owner of the DAZN sports streaming platform, and Daily Mail proprietor Lord Rothermere were preparing to buy minority stakes as part of the RedBird transaction. Gerry Cardinale, the RedBird executive, who has spearheaded the latest iteration of its acquisition, has described the firm as "the right owner at the right time". RedBird said in May that it was "in discussions with select UK-based minority investors with print media expertise and strong commitment to upholding the editorial values of the Telegraph". The Telegraph titles' parent company was forced into insolvency proceedings in 2023 by Lloyds Banking Group, which ran out of patience with the Barclay family, their long-standing owner. RedBird IMI, a joint venture between the two firms, paid £600m several months later to acquire a call option that was intended to convert into ownership of the Telegraph newspapers and The Spectator magazine. That objective was thwarted by a change in media ownership laws - which banned any form of foreign state ownership. Some peers argued last week that a 15% threshold was too high and that the legislation to permit it was dangerously ambiguous because it could allow for more than one state investor to aggregate their holdings in British newspapers. A further statutory instrument will need to be approved in order to address this issue. The Spectator, which had also been part of the same group, was sold last year for £100m to Sir Paul Marshall, the hedge fund billionaire, who has installed Lord Gove, the former cabinet minister, as its editor.
Yahoo
an hour ago
- Yahoo
Trump plans to open 401(k) and IRA markets to crypto
Trump plans to open 401(k) and IRA markets to crypto originally appeared on TheStreet. President Donald Trump is preparing to open up the $9 trillion U.S. retirement market to cryptocurrencies, gold, private equity, and other alternative assets — a move that could fundamentally change how millions of Americans save for retirement. According to the Financial Times, Trump is expected to sign an executive order as early as this week that would allow professionally managed 401(k) plans to include non-traditional assets. The order would direct regulatory agencies to assess and remove existing barriers to such investments, potentially bringing digital assets and private markets into the mainstream of U.S. retirement planning. 'President Trump is committed to restoring prosperity for everyday Americans and safeguarding their economic future,' the White House told the Financial Times, while adding that no decision is final unless announced directly by Trump FT reports that this executive action builds on Trump's broader effort to embrace digital assets, following his campaign promise to 'free crypto' from what he called overly harsh regulations. His administration has already withdrawn a Biden-era Labor Department warning discouraging crypto exposure in retirement accounts. This latest push would go further — offering not just digital assets, but also access to private equity, infrastructure funds, and metals like gold through retirement savings vehicles. The report also noted that asset managers like Blackstone, Apollo, and BlackRock could be major beneficiaries. These firms have long lobbied for access to 401(k) funds and are already striking deals with major retirement plan providers, including Vanguard and Empower. On July 17, the U.S. House of Representatives passed three major crypto bills. The CLARITY Act lays out clear rules for classifying digital assets as securities or commodities. The GENIUS Act, already approved by the Senate, regulates stablecoins and is heading to the President's desk. The Anti-CBDC Act bans the Federal Reserve from launching a digital dollar without Congressional approval. Trump plans to open 401(k) and IRA markets to crypto first appeared on TheStreet on Jul 17, 2025 This story was originally reported by TheStreet on Jul 17, 2025, where it first appeared.
