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Yahoo
2 hours ago
- Yahoo
India Trade Pact Nears, US Beef Floods In--What Investors Should Watch Next
Australia may be on the brink of deepening its trade ties with India, according to Trade Minister Don Farrell, who suggested a broader free trade deal could have been inked months ago if not for a timing clash with the May election. Speaking at the Lowy Institute, Farrell hinted that the delay was procedural, not political, and noted that his Indian counterpart is currently focused on high-stakes tariff talks with President Donald Trump's administration. The existing FTAsigned back in April 2022cut tariffs across most sectors, but left out sensitive Australian exports like chickpeas, dairy, and wheat. Farrell expects those gaps could be closed bit by bit, as part of a multi-stage rollout. Warning! GuruFocus has detected 7 Warning Signs with TSN. That optimism is surfacing just as India finalizes a major agreement with the UK and bilateral trade with Australia hits nearly A$50 billion ($32.9 billion) in 2023. Farrell said the structure of a final deal with India is likely to be incremental, owing to political realities on both sides. Still, with Canberra actively seeking to diversify away from Chinaits top trading partnera more comprehensive agreement with India could be a meaningful next step. For investors eyeing agri-exporters, particularly in grains and dairy, the next phase of negotiations could shape longer-term access to one of the world's fastest-growing consumer markets. In a separate move with potential ripple effects, Australia just lifted all remaining restrictions on US beef importsa long-standing ask from the Trump administration. The announcement triggered a celebratory post from President Trump on TruthSocial, but Farrell was quick to tamp down the political narrative, stating the decision was based on science and years of internal review. We haven't done this to win favorwe think the Americans should trade with us anyway, he said. Whether this opens the door to a broader trade pact with the US remains to be seen, but the development is unlikely to go unnoticed by investors in US meat giants like Tyson Foods (NYSE:TSN) or Brazil's JBS, both of which could stand to benefit from expanded market access. This article first appeared on GuruFocus.
CNN
2 hours ago
- CNN
Anti-war protests ramp up in Israel as hunger envelops Gaza
Anti-war protests ramp up in Israel as hunger envelops Gaza Hundreds take to the streets in Israel to protest the country's war in Gaza as the starvation crisis grows in the strip. CNN's Jeremy Diamond reports. 00:59 - Source: CNN Why are Thailand and Cambodia fighting? Tensions are rising between Thailand and Cambodia over a border dispute that dates back to 1907. CNN's Will Ripley explains how the conflict has escalated. 01:32 - Source: CNN CNN reports from Gaza aid crossing CNN's Nic Robertson is on the scene at the Kerem Shalom border crossing as aid agencies warn of rampant hunger caused by Israel's blockade of Gaza. Gaza's health ministry said on Tuesday that 900,000 children are going hungry, and 70,000 already show signs of malnutrition. Israel denies it is at fault and accuses Hamas of 'engineering' food shortages. 01:39 - Source: CNN Reopening the ancient tunnels 75 feet under Rome CNN's Ben Wedeman was given an exclusive tour of ancient tunnels underneath Rome's Capitoline Hill. The tunnels, which archeologists say were once filled with ancient Roman shops and taverns, are set to open to the public in late 2026 or early 2027. 02:02 - Source: CNN Ukraine sees first major anti-government protests since start of war Hundreds took to the streets after Ukrainian President Volodymyr Zelensky signed a new law limiting the autonomy of anti-corruption agencies in his government. 01:03 - Source: CNN Peruvian police use superhero disguise during drug raid An agent in the Peruvian police force disguised themselves as the Mexican superhero character El Chapulín Colorado during a drug raid in the nation's capital of Lima. Police said six members of a criminal gang were captured and that cocaine paste, marijuana, cell phones, and money were seized. 00:38 - Source: CNN Distressing images show starvation in Gaza Distressing video footage shows a 41-year-old man in Gaza who died of starvation as humanitarian organizations urge for Israel to end its blockade of the enclave. CNN's Jeremy Diamond reports. 01:57 - Source: CNN Small Irish town confronts its dark past Excavations of the remains of nearly 800 babies have begun at a former so-called mother and baby home in Tuam, Ireland. At least 9,000 infants and children died in more than a dozen of these institutions over the course of eight decades. 02:11 - Source: CNN Fire tornado rips through Turkish forest Turkey's forestry ministry has released video of a fire tornado tearing through the country's woodland. Hundreds of wildfires have gripped Turkey this summer, as well as Greece and other Mediterranean countries. 00:33 - Source: CNN Concerns grow over Australia's toxic algae bloom A harmful algae bloom off the coast of South Australia, caused by high sea temperatures and runoff from flooding, is poisoning marine life and depleting oxygen in the water. The Australian government has stated that there is little that can be done to reverse the rapid rate of the climate crisis. 01:10 - Source: CNN International visitors to US will pay new fee CNN's Richard Quest explains how the Trump administration enacted a bill that will require international visitors to pay a new 'visa integrity fee' of $250 dollars. The fee will apply to all visitors who are required to obtain nonimmigrant visas to enter the US. 01:36 - Source: CNN Mexico City residents furious over gentrification Mexico City saw its second anti-gentrification protest in less than a month on Sunday with demonstrators furious over rising prices in the city and the record number of foreigners applying for a resident visa. The main nationality of those foreigners seeking to move legally to the nation's capital? The United States of America. 01:11 - Source: CNN Child flees Israeli strike on Gaza refugee camp Video shows a child running away as Israeli munitions struck near a UNRWA school in Bureij Refugee Camp behind her. 00:36 - Source: CNN China cracks down on fake "Lafufu" Labubus Fake Labubu plush toys, dubbed "Lafufu," have gained popularity due to shortages of the original dolls made by China's Pop Mart. 02:05 - Source: CNN Jair Bolsonaro denies coup charges as police raid home Police in Brazil raided the home of former Brazilian President Jair Bolsonaro and enforced a ruling from the country's Supreme Court that Bolsonaro wear an electronic ankle tag. Bolsonaro is being accused of plotting to overturn the results of the 2022 presidential election. 01:17 - Source: CNN Taiwan conducts 10-day military drill The Taiwanese government is preparing for a war they hope will never happen. For the first time this year, Taiwan combined two major civil defense exercises, with the drills lasting ten days. These drills have included urban combat, mass casualty simulations, emergency supply drops and cyber defense that could be enacted if an invasion was to occur. CNN's Senior International Correspondent, Will Ripley, reports. 01:44 - Source: CNN Deadly flooding grips South Korea for days South Korea has been ravaged for days by intense flooding that's left more than a dozen people dead. Reuters reported more than 16 inches of rain fell in one area in just 24 hours, citing the country's Interior and Safety Ministry. 00:48 - Source: CNN Brazil's Lula tells Christiane Amanpour: Trump 'Was not elected to be emperor of the world' Brazilian President Luiz Inácio Lula da Silva tells CNN's Christiane Amanpour in an exclusive interview it was 'a surprise' to see President Donald Trump's letter posted to Truth Social, threatening Brazil with a crippling tariff of 50% starting August 1st. Lula says that he initially thought the letter was 'fake news.' Watch the full 'Amanpour' interview on CNN. 01:33 - Source: CNN Gaza's only Catholic church hit by Israeli strike Gaza's only Catholic church was struck by an Israeli tank, killing three and injuring many more, church officials said. It became internationally recognized after reports emerged that the late Pope Francis used to call the church daily. CNN's Nada Bashir reports 00:53 - Source: CNN Prince Harry recreates his mother's historic landmine walk Following in his mother's footsteps, Prince Harry visited Angola's minefields just as Princess Diana did 28 years ago. The Duke of Sussex was in Angola with The Halo Trust as part of the group's efforts to clear landmines. 00:39 - Source: CNN Massive fire destroys Tomorrowland's main stage Tomorrowland's main stage went up in flames just days ahead of the festival's opening in Boom, Belgium. 00:38 - Source: CNN How Trump's image is changing inside Russia Once hailed as a pro-Kremlin figure, President Donald Trump's image is changing inside Russia. It comes after Trump vowed further sanctions on the country if a peace agreement with Ukraine is not reached in 50 days. CNN's Chief Global Affairs Correspondent is on the ground in Moscow with the analysis. 01:41 - Source: CNN Who are the armed groups clashing in Syria? Dozens were killed in Syria this week after clashes between government loyalists and Druze militias in the southern city of Suwayda, prompting Syrian forces to intervene. That, in turn, triggered renewed Israeli airstrikes. 01:57 - Source: CNN Syrian anchor takes cover from airstrike live on TV An airstrike on the Syrian Ministry of Defense was captured live on Syria TV, forcing the anchor to take cover. Israel has been carrying out airstrikes on Syria as part of its commitment to protect the Druze, an Arab minority at the center of clashes with government loyalists. 00:30 - Source: CNN
Yahoo
2 hours ago
- Yahoo
Fed Chair Shares Plan to Spite Trump After Brutally Fact-Checking Him to His Face
Federal Reserve Chair Jerome Powell intends to ignore Donald Trump's constant calls for him to resign, believing that doing so would damage the independence of the U.S. central bank, according to a new report. Powell has been telling his inner circle that he'll stay in the role until his term ends in May 2026, sources told CNN, and is willing to endure months of Trump berating him over the president's demands to slash interest rates. The Fed chair's plan to remain in the role arrived after tensions between Trump and Powell two were visible Thursday during an awkward exchange at the Fed's D.C. headquarters, where Trump made a rare visit alongside Powell. At one point, Powell had to correct Trump to his face when he claimed renovation costs at the site would total $3.1 billion. 'I'm not aware of that, Mr. President,' Powell said, to which Trump suggested the figure 'just came out.' After reviewing a piece of paper Trump handed him, Powell shot back at the president, and told him he was 'adding a third building' to the total 'that was built five years ago.' 'It's part of the overall work,' Trump told reporters, forcing Powell to interject once again to inform the president: 'It's not new.' Powell has been telling his associates that his decision to stay as Fed Chair is not only a personal one, but that caving to Trump's pressure would risk the Fed violating its long-standing principle of avoiding political influence in key economic decisions. GOP Sen. Mike Rounds of South Dakota, one of those who's pressed Powell about his plans, said the Fed chair believes 'very strongly' that it is his duty to not concede to the president. 'I've asked him, and he says no, that would reduce the independence of the Federal Reserve,' Rounds told CNN. Trump has spent months attacking 'dummy' Powell for not lowering interest rates to help offset the president's economically catastrophic tariff plans. He's also accused Powell's decision to hold rates between 4.25 percent and 4.5 percent as politically motivated and biased against him. The 79-year-old president has been so furious with Powell, he seems to have forgotten that he appointed him in the first place. 'He's a terrible Fed chair. I was surprised he was appointed,' Trump told reporters in the Oval Office earlier this month, despite nominating Powell himself in 2017. Former President Joe Biden re-nominated Powell for a second term, which is set to end in May 2026. Jared Bernstein, who chaired the Council of Economic Advisers under Biden, praised Powell's resilience under Trump's relentless attacks. 'He's putting the integrity of the institution above himself,' Bernstein told CNN. 'If I were a 72-year-old guy who's getting verbally abused by the president on a daily basis, retirement would look pretty good. But I really believe that Powell is engaged in protecting the institution.' The Fed chair did not immediately respond to a request for comment from the Daily Beast.
