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Daily World Briefing, June 28

Daily World Briefing, June 28

Canada Standard7 hours ago

Trump continues pushing Fed chair to lower interest rates
U.S. President Donald Trump has continued to lob personal insults and attacks at Federal Reserve Chair Jerome Powell in a bid to get the central bank to lower interest rates.
Frustrated with the Fed's wait-and-see attitude toward lowering interest rates, Trump has ramped up attacks against Powell in recent weeks.
Earlier this week during a NATO summit in the Netherlands, Trump hurled his latest oratory grenade at the Fed chief, who the president nominated for the position eight years ago.
"I think he's terrible," Trump told reporters during a press conference, referring to Powell.
The president called Powell a "very average mentally person," and said the Fed chief has "a low IQ for what he does."
"I think he is a very stupid person, actually," Trump said.
Canadian PM says negotiations with U.S. "complex"
Canadian Prime Minister Mark Carney on Friday called the negotiations with the United States "complex" when he responded to the announcement of U.S. President Donald Trump to terminate all trade talks with Canada with potential new tariffs.
"We'll continue to conduct these complex negotiations in the best interest of Canadians," Carney said to local media. "It's a negotiation."
Trump announced Friday that the United States would terminate all trade talks with Canada due to Canada's digital services tax on U.S. tech companies.
Canada's digital services tax on American technology companies is a direct and blatant attack on the United States, said Trump in a post on social media.
Set to take effect on June 30, the digital services tax would have U.S. companies like Amazon, Google, Meta, Uber and Airbnb pay a three percent levy on revenue from Canadian users.
Canada and the United States have been in negotiations to get Trump to lift the tariffs on Canadian goods, which have already led to major economic shrinking.
U.S. Supreme Court limits injunctions against Trump's birthright citizenship order
The U.S. Supreme Court ruled on Friday that district judges lack the authority to grant nationwide injunctions against the Trump administration's executive order to effectively end birthright citizenship.
In a 6-3 vote along ideological line, Supreme Court justices granted a request by the Trump administration to narrow the scope of nationwide injunctions imposed by district judges.
"Federal courts do not exercise general oversight of the Executive Branch," Justice Amy Coney Barrett wrote for the majority, noting that "When a court concludes that the executive branch has acted unlawfully, the answer is not for the court to exceed its power, too."
However, the three liberal justices issued dissents to the decision.
"Children born in the United States and subject to its laws are United States citizens," Justice Sonia Sotomayor said, adding "that has been the legal rule since the founding."
Iran's FM says IAEA chief's insistence on visiting bombed nuclear sites "meaningless"
Iranian Foreign Minister Seyed Abbas Araghchi said on Friday the insistence of the United Nations nuclear watchdog's chief on visiting Iran's bombed nuclear sites is "meaningless."
He made the remarks in a post on social media platform X while accusing Director General of the International Atomic Energy Agency (IAEA) Rafael Grossi of facilitating the adoption of a resolution by the agency's Board of Governors against Tehran and the bombings of Iranian nuclear facilities by the United States and Israel.
"Grossi's insistence on visiting the bombed sites under the pretext of safeguards is meaningless and possibly even malign in intent. Iran reserves the right to take any steps in defense of its interests, its people, and its sovereignty," he said.
He pointed to a recent plan approved by the Iranian parliament, and later passed into law by the country's Constitutional Council, which called for a halt in Iran's collaboration with the IAEA, adding, "This is a direct result of Grossi's regrettable role in obfuscating the fact that the agency had -- a full decade ago -- already closed all past issues (with Iran)."
Grossi on Friday highlighted the necessity for IAEA inspectors to continue their verification activities in Iran, "as required under the Comprehensive Safeguards Agreement," according to a statement published on the agency's website.
Russia, Ukraine agree to hold 3rd round of talks after prisoner exchange: Putin
Russia and Ukraine have agreed to hold the third round of negotiations after completing their war prisoner exchange, Russian President Vladimir Putin said Friday after the Supreme Eurasian Economic Council in Minsk.
Russia and Ukraine agreed to hold the third-round of talks after the completion of the exchange of prisoners of war and the transfer of bodies of dead militants, negotiated in Istanbul on June 2, Putin told reporters.
Russia is ready for new round of negotiations with Ukraine in Istanbul, the president said, noting that the time and place of the third-round talks need to be agreed on.
The draft memoranda between Russia and Ukraine on the settlement should become the subject of discussion during the third round of negotiations, Putin said.

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Israeli defence minister directs IDF to develop plan to stymie Iranian recovery
Israeli defence minister directs IDF to develop plan to stymie Iranian recovery

Vancouver Sun

time33 minutes ago

  • Vancouver Sun

Israeli defence minister directs IDF to develop plan to stymie Iranian recovery

Defense Minister Israel Katz on Friday directed the IDF to formulate an enforcement plan against Iran, including steps to preserve Israel's aerial superiority, prevent the advancement of Tehran's nuclear and missile programs, and respond to the Islamic Republic's support for terrorism. 'We will act regularly to thwart threats of this nature,' said Katz. 'I suggest the defanged head of the snake in Tehran understand and beware: 'Operation Rising Lion' was only the preview of a new Israeli policy,' he continued. 'After Oct. 7, immunity is over.' Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Katz said the 12-day war would go down as a remarkable chapter in Israel's history and in the annals of global conflict. He highlighted that Israel had opened the skies over Tehran, targeting and neutralizing Iranian air defense systems, destroying nuclear infrastructure and missile production facilities, and severely damaging missile launchers. Additionally, Israel killed key Iranian security figures and leading scientists, effectively dismantling the decades-long plan by Supreme Leader Ali Khamenei to annihilate the Jewish state. IDF Chief of Staff Lt. Gen. Eyal Zamir on Friday indicated that the damage inflicted on Iran would help further Israel's war objectives against Hamas. 'The IDF completed 'Operation Rising Lion' to eliminate an existential threat to the State of Israel. We achieved all of our objectives and delivered a significant blow to Iran's nuclear program,' Zamir said during a situational assessment held in the Gaza Strip. 'The damage sustained will have an impact on the entire axis, including Hamas, whose primary sponsor has now been weakened. There is a possibility that the strike on Iran will advance our objectives in Gaza,' he added. The comments came after a rare public statement by Mossad Director David Barnea, who announced on Wednesday that the spy agency would continue to conduct covert operations inside Iran for the foreseeable future. 'We will be there, as we have been,' Barnea said. 'We've worked for months and years to carry out the necessary actions and reach the right moment.' In a video message, Barnea underscored that Israel's intelligence presence within the Islamic Republic remains extensive, calling it a strategic imperative for national security and regional stability. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .

Israeli defence minister directs IDF to develop plan to stymie Iranian recovery
Israeli defence minister directs IDF to develop plan to stymie Iranian recovery

Calgary Herald

time34 minutes ago

  • Calgary Herald

Israeli defence minister directs IDF to develop plan to stymie Iranian recovery

Article content Defense Minister Israel Katz on Friday directed the IDF to formulate an enforcement plan against Iran, including steps to preserve Israel's aerial superiority, prevent the advancement of Tehran's nuclear and missile programs, and respond to the Islamic Republic's support for terrorism. Article content 'We will act regularly to thwart threats of this nature,' said Katz. Article content Article content Article content 'I suggest the defanged head of the snake in Tehran understand and beware: 'Operation Rising Lion' was only the preview of a new Israeli policy,' he continued. 'After Oct. 7, immunity is over.' Article content Article content Katz said the 12-day war would go down as a remarkable chapter in Israel's history and in the annals of global conflict. Article content He highlighted that Israel had opened the skies over Tehran, targeting and neutralizing Iranian air defense systems, destroying nuclear infrastructure and missile production facilities, and severely damaging missile launchers. Additionally, Israel killed key Iranian security figures and leading scientists, effectively dismantling the decades-long plan by Supreme Leader Ali Khamenei to annihilate the Jewish state. Article content IDF Chief of Staff Lt. Gen. Eyal Zamir on Friday indicated that the damage inflicted on Iran would help further Israel's war objectives against Hamas. Article content Article content 'The IDF completed 'Operation Rising Lion' to eliminate an existential threat to the State of Israel. We achieved all of our objectives and delivered a significant blow to Iran's nuclear program,' Zamir said during a situational assessment held in the Gaza Strip. Article content Article content 'The damage sustained will have an impact on the entire axis, including Hamas, whose primary sponsor has now been weakened. There is a possibility that the strike on Iran will advance our objectives in Gaza,' he added. Article content The comments came after a rare public statement by Mossad Director David Barnea, who announced on Wednesday that the spy agency would continue to conduct covert operations inside Iran for the foreseeable future. Article content 'We will be there, as we have been,' Barnea said. 'We've worked for months and years to carry out the necessary actions and reach the right moment.' Article content In a video message, Barnea underscored that Israel's intelligence presence within the Islamic Republic remains extensive, calling it a strategic imperative for national security and regional stability. Article content

Under the finfluence
Under the finfluence

Winnipeg Free Press

timean hour ago

  • Winnipeg Free Press

Under the finfluence

Opinion Alyssa Davies knows when a social media post has struck a chord with her tens of thousands of followers: the DMs (direct messages) pour in. 'Every week, people pour their hearts out over what they're going through financially,' says the 34-year-old financial influencer (or finfluencer), who has been writing about money for a decade on her blog Mixed Up Money. Davies finds she blogs less these days and posts more on multiple social media platforms, including TikTok, though her wheelhouse is Instagram, where she posts short videos about personal experiences with life and money. Her first-person narrative about money challenges and successes are what draws followers. It's not a unique formula and the insights can be quite banal (like allowing yourself some treat spending occasionally, even when you're trying to stick to a budget). Yet the intimacy of these financial insights are why hundreds if not thousands of finfluencers are captivating potentially millions of Canadian consumers. A recent survey of 1,000 Canadians by Tangerine Bank — looking only at TikTok (or 'FinTok,' the hashtag for users seeking financial advice) — point to finfluencers' growing impact, finding nearly nine in 10 using the platform believe it improved their financial literacy. In following finfluencers, 61 per cent note their posts helped them build at least $500 more wealth. The report ('#FinTok: the good, bad and straight-up wrong') found while the experience is mostly good, nearly one in four report following bad advice — most often related to investing. Among those individuals, more than 40 per cent lost more than $500. The report also illustrates how a new generation of consumers and investors are getting financial advice much like they consume other goods and services — for better and for worse, says Lora Paglia, chief operating officer at Tangerine. 'People want everything at their fingertips … from food deliveries to financial advice,' he says. '(Yet) not all advice is created equal and everyone has a unique financial situation.' Cautions aside, social media platforms — from TikTok to YouTube to Reddit to Instagram — are catching on because young consumers, especially, can learn about an intimidating topic in an approachable way, he adds. Finfluencers put the 'personal' in personal finance, and regulators like the Ontario Securities Commission are trying to understand their full impact. It recently published a report called 'Social Media and Retail Investing: the Rise of Finfluencers,' surveying 655 investors. Among its findings are 91 per cent of respondents are active social media users. Notably, 35 per cent of those respondents state making financial decisions based on finfluencer content. That more than one-third of Canadian investors could be following advice from largely unregulated financial content providers is concerning, says Meera Paleja, head of research and behavioural insights at the OSC. 'Their level of knowledge can vary greatly.' Finfluencers range from social media-savvy licensed advisers to those with no professional background in finance at all. Theresa Ebden, vice-president of the investor office at the OSC, notes the latter group can further be distinguished into two sub-groups: those posting content about money and investing who aren't being paid to promote a product; and those who are paid by a third party to promote a financial product. The latter group is of most concern to regulators, she adds. What's more, the OSC has reason to be concerned, given the findings of the second part of its study. It involved experiments with investors to determine finfluencers' impact and found respondents exposed to finfluencers' advice were more than three times as likely to purchase an investment mentioned in posts than those who were not exposed. 'Just seeing an investment talked about on social media dramatically increases the chance people will purchase it,' Paleja says. In the real world, the OSC is seeing the potential impacts, receiving more complaints about finfluencers — though most involve cryptocurrency, Ebden says. In contrast, at FAIR Canada (Canadian Foundation for the Advancement of Investor Rights), complaints about finfluencers have yet to arise. That doesn't mean it isn't a concern, says Jean-Paul Bureaud, executive director of FAIR Canada. 'The research (including the Tangerine study) generally shows that investors following finfluencers may be losing small amounts … so maybe they don't feel it's worth reporting.' Yet he can see how it can be potentially problematic, given finfluencers' unique and growing appeal. 'People like feeling part of a community, having peer-to-peer interactions and learning from others who have been through the same challenges.' Like any other financial literacy resource, finfluencer content can be 'a double-edged sword,' with the dangerous edge being those paid to promote products that may not be in consumers' best interest, Bureaud adds. The OSC study, however, did find potential solutions to better protect consumers. 'The greatest impact in the experiment was inoculation,' says Paleja. Like vaccines introducing a harmless piece of a virus to an immune system to recognize and fight off the real virus in the future, inoculation for investors involves introducing 'a weakened form of the misinformation they might encounter' on social media, she explains. Davies, who is completing her master's degree in financial psychology, offers some inoculation of her own, noting content consumers should be skeptical of any advice encountered online and they need to further confirm its veracity elsewhere before applying it to their own lives. Wednesdays A weekly dispatch from the head of the Free Press newsroom. Indeed, most followers she engages with don't blindly follow finfluencers. Rather, they see them as an entry point to learning more about subject matter they find intimidating, giving them confidence to learn more so they can make better money decisions. 'It's not about giving people perfect advice,' Davies says. 'It's really about helping them feel less alone on their financial journey.' Joel Schlesinger is a Winnipeg-based freelance journalist joelschles@

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