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Russia does not care about Trump's 'theatrical ultimatum', senior official says
MOSCOW (Reuters) -Russia does not care about U.S. President Donald Trump's "theatrical ultimatum" about slapping sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in Ukraine, a senior security official said on Tuesday. Trump, sitting beside NATO Secretary General Mark Rutte in the Oval Office, on Monday, announced new weapons for Ukraine and threatened secondary tariffs of 100% on the buyers of Russian exports, of which crude makes up a major chunk. The U.S. president also expressed frustration with Vladimir Putin, saying he did not want to call the Russian leader "an assassin, but he's a tough guy". "Trump issued a theatrical ultimatum to the Kremlin," former Russian President Dmitry Medvedev said in a post in English on X. "The world shuddered, expecting the consequences. Belligerent Europe was disappointed. Russia didn't care." The Kremlin has so far not commented on Trump's remarks but said on Monday it was clear that the United States had continued to supply weapons and ammunition to Ukraine. In Washington, a White House official said Trump's intention is to impose "100% tariffs on Russia" and secondary sanctions on other countries that buy oil from Russia if a peace deal is not struck in 50 days. Eighty-five of the 100 U.S. senators are co-sponsoring a bill that would give Trump the authority to impose 500% tariffs on any country that helps Russia, but the chamber's Republican leaders have been waiting for Trump to give them the go-ahead for a vote. China and India are the biggest buyers of Russian crude. Trump told the BBC that he was "not done" with Putin and that he thought a Ukraine peace deal was on the cards.
Yahoo
33 minutes ago
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Carney set to meet with cabinet to weigh response to Trump's 35% tariff threat
OTTAWA — Prime Minister Mark Carney will meet with his cabinet today for the first time since U.S. President Donald Trump threatened to impose steep new tariffs on Canada. Trump said in a letter to Carney last week that the United States will put a 35 per cent tariff on Canadian goods starting Aug. 1. The White House says that new tariff wouldn't apply to goods that are compliant with the Canada-U.S.-Mexico Agreement on trade. Canada has yet to respond formally to the latest threat, or to Trump's recent moves to impose lofty tariffs on copper imports and double existing levies on steel and aluminum. Carney and Trump agreed last month to work toward a new trade and security pact by July 21, but the U.S. president unilaterally pushed back the timeline to secure a deal. Carney is also set to meet with Canada's premiers next week. This report by The Canadian Press was first published July 15, 2025. The Canadian Press Sign in to access your portfolio
Yahoo
34 minutes ago
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FTSE 100 LIVE: London heads near all-time highs as EU readies for US tariffs
The FTSE 100 (^FTSE) was tepid at the opening bell in London, flirting with the 9,000 point mark and all-time highs as tariff worries play out across Europe ahead of a 1 August deadline. European indices rose slightly, having fallen the day before as lists of goods the EU intends to tax as countermeasures to US tariff threats hit the press. Multiple outlets reported a wide-ranging list of targets for tariffs, including aircraft from Boeing (BA), US cars, wine, whiskey and agricultural products. Over the weekend president Donald Trump threatened a blanket 30% tariff on EU goods — a three-fold increase than the 10% tariff temporarily in place while negotiations are ongoing. London's premier index ticked above the 9,000 mark, rising slightly. Housebuilder Barratt Redrow (BTRW.L) was the biggest drag on the index, falling more than 10% as it reported profit inline with expectations, but softened its outlook. The DAX (^GDAXI) rose about 0.1% in Germany. Paris's CAC 40 (^FCHI) gained 0.2%. US consumer price index (CPI) data due later today will give fresh hints about the Federal Reserve's interest rate path. "Headline CPI, which had ticked down to as low as 2.3% a couple of months ago, is seen rising back to 2.7%, whilst core CPI could rise to 3.0%," said Neil Wilson, UK investor strategist at Saxo Markets. "Look for categories like autos and furniture to push the index up as tariffs take effect. But US National Economic Council boss Kevin Hassett has a theory why inflation hasn't taken off – Americans are patriotically buying domestic goods." Charlie Ambler, co-chief investment officer at Saltus said: Yahoo Finance UK's Pedro Goncalves writes: First-time buyers will be able to apply for a mortgage with just a £30,000 salary with Nationwide (NBS.L) as the government and Bank of England (BoE) push for more relaxed lending rules. The changes comes as chancellor Rachel Reeves is set to reveal the "biggest set of reforms to financial regulation in a decade" at a summit of finance executives in Leeds this Tuesday, as part of the government's mission to kick start economic growth and support more first-time buyers. Under the plans, more mortgages will be available at over 4.5 times a buyer's income following Bank of England recommendations that some banks and building societies offer more high loan-to-income mortgages — creating up to 36,000 additional mortgages for first-time buyers over the first year. This change means that Nationwide will be able to make its "Helping Hand" mortgage available to people with lower incomes. From Wednesday, eligible first-time buyers can apply for the mortgage with a £30,000 salary, down from £35,000, and joint applicants with a £50,000 combined salary — down from £55,000. This will support an additional 10,000 first-time buyers each year. Read more on Yahoo Finance UK The EU has finalised a list of goods worth $84bn as it gears up to retaliate against US tariffs, with Boeing (BA) aircraft, cars, machinery, chemicals, plastics and bourbon set to face higher taxes if a deal can't be reached. Medical devices, wines and agricultural goods were also on the list, according to a document seen by Bloomberg and Politico. The list has to be approved by member states before it can be adopted. Over the weekend president Trump threatened to up the EU's blanket tariff to 30% come August 1. Previously, president Trump had slapped a blanket 20% so-called reciprocal tariff on the EU as well as additional levies on cars and car parts of 25%. this was later cut to 10% as the bloc negotiated. From our US team: US stock futures wavered Tuesday morning as Wall Street girded for a key consumer inflation print and for big banks to kick off earnings season, with tariff-driven concerns in focus for both events. Futures tied to the S&P 500 (ES=F) were up 0.3%. Those on the tech-heavy Nasdaq (NQ=F) climbed 0.5% after the Nasdaq Composite (^IXIC) closed Monday at its latest record high. Dow Jones Industrial Average futures (YM=F) also rose 0.3%. Investors are bracing for June's release of the Consumer Price Index, due for release at 8:30 a.m. ET on Tuesday. The report is expected to show the first real signs of a tariff-driven uptick on prices. Headline CPI is forecast to rise 0.3% month over month and 2.4% year over year. Both would represent accelerations from May's data. Meanwhile, big banks unofficially kick off earnings season Tuesday morning, with JPMorgan (JPM), Citi (C), and Wells Fargo (WFC) all on the docket. The banks will look to assure investors that the tariff-driven turmoil of Q2 is in the rearview mirror and that the wind is at their backs for the second half of this year. UK retailers saw sales lift higher in June as warmer weather helped drive more shoppers onto the high street, according to new figures. Fresh data from the British Retail Consortium (BRC) showed shopping activity swung higher for the month as sales of fans and sportswear rose sharply due to the recent hot spell and sporting events such as Wimbledon. The monthly BRC-KPMG retail sales monitor revealed that total UK retail sales increased by 3.1% in June year-on-year, compared with a 0.2% in the same month a year earlier. This was also particularly buoyed by an increase in food sales, which grew by 4.1% for the month on the back of accelerating price inflation. Recent figures from the trade group showed that food inflation increased to 3.7% in June, while fresh food was 3.2% more expensive than a year ago. The BRC found that non-food sales increased by 2.2% in June, with similar rates of growth across online and in stores. Helen Dickinson, chief executive of the BRC, said: 'Retail sales heated up in June, with both food and non-food performing well. 'The soaring temperatures increased sales of electric fans while sports and leisure equipment was boosted by both the weather and the start of Wimbledon. 'Food sales remained strong, though this was in part driven by food inflation, which has risen steadily over the course of the year.' Hello from London. Lucy Harley-McKeown here. Ready to bring you the latest markets news of the day. Today we're watching: Chancellor's Mansion House Speech - Rachel Reeves (9.10pm) and Andrew Bailey speech (9.30) Financial Services Growth and Competitiveness Strategy - Rachel Reeves publishes new financial services sector plan. Company news: US earnings: Wells Fargo, JP Morgan, Blackrock, Citigroup Let's get to it. Charlie Ambler, co-chief investment officer at Saltus said: Yahoo Finance UK's Pedro Goncalves writes: First-time buyers will be able to apply for a mortgage with just a £30,000 salary with Nationwide (NBS.L) as the government and Bank of England (BoE) push for more relaxed lending rules. The changes comes as chancellor Rachel Reeves is set to reveal the "biggest set of reforms to financial regulation in a decade" at a summit of finance executives in Leeds this Tuesday, as part of the government's mission to kick start economic growth and support more first-time buyers. Under the plans, more mortgages will be available at over 4.5 times a buyer's income following Bank of England recommendations that some banks and building societies offer more high loan-to-income mortgages — creating up to 36,000 additional mortgages for first-time buyers over the first year. This change means that Nationwide will be able to make its "Helping Hand" mortgage available to people with lower incomes. From Wednesday, eligible first-time buyers can apply for the mortgage with a £30,000 salary, down from £35,000, and joint applicants with a £50,000 combined salary — down from £55,000. This will support an additional 10,000 first-time buyers each year. Read more on Yahoo Finance UK The EU has finalised a list of goods worth $84bn as it gears up to retaliate against US tariffs, with Boeing (BA) aircraft, cars, machinery, chemicals, plastics and bourbon set to face higher taxes if a deal can't be reached. Medical devices, wines and agricultural goods were also on the list, according to a document seen by Bloomberg and Politico. The list has to be approved by member states before it can be adopted. Over the weekend president Trump threatened to up the EU's blanket tariff to 30% come August 1. Previously, president Trump had slapped a blanket 20% so-called reciprocal tariff on the EU as well as additional levies on cars and car parts of 25%. this was later cut to 10% as the bloc negotiated. From our US team: US stock futures wavered Tuesday morning as Wall Street girded for a key consumer inflation print and for big banks to kick off earnings season, with tariff-driven concerns in focus for both events. Futures tied to the S&P 500 (ES=F) were up 0.3%. Those on the tech-heavy Nasdaq (NQ=F) climbed 0.5% after the Nasdaq Composite (^IXIC) closed Monday at its latest record high. Dow Jones Industrial Average futures (YM=F) also rose 0.3%. Investors are bracing for June's release of the Consumer Price Index, due for release at 8:30 a.m. ET on Tuesday. The report is expected to show the first real signs of a tariff-driven uptick on prices. Headline CPI is forecast to rise 0.3% month over month and 2.4% year over year. Both would represent accelerations from May's data. Meanwhile, big banks unofficially kick off earnings season Tuesday morning, with JPMorgan (JPM), Citi (C), and Wells Fargo (WFC) all on the docket. The banks will look to assure investors that the tariff-driven turmoil of Q2 is in the rearview mirror and that the wind is at their backs for the second half of this year. UK retailers saw sales lift higher in June as warmer weather helped drive more shoppers onto the high street, according to new figures. Fresh data from the British Retail Consortium (BRC) showed shopping activity swung higher for the month as sales of fans and sportswear rose sharply due to the recent hot spell and sporting events such as Wimbledon. The monthly BRC-KPMG retail sales monitor revealed that total UK retail sales increased by 3.1% in June year-on-year, compared with a 0.2% in the same month a year earlier. This was also particularly buoyed by an increase in food sales, which grew by 4.1% for the month on the back of accelerating price inflation. Recent figures from the trade group showed that food inflation increased to 3.7% in June, while fresh food was 3.2% more expensive than a year ago. The BRC found that non-food sales increased by 2.2% in June, with similar rates of growth across online and in stores. Helen Dickinson, chief executive of the BRC, said: 'Retail sales heated up in June, with both food and non-food performing well. 'The soaring temperatures increased sales of electric fans while sports and leisure equipment was boosted by both the weather and the start of Wimbledon. 'Food sales remained strong, though this was in part driven by food inflation, which has risen steadily over the course of the year.' Hello from London. Lucy Harley-McKeown here. Ready to bring you the latest markets news of the day. Today we're watching: Chancellor's Mansion House Speech - Rachel Reeves (9.10pm) and Andrew Bailey speech (9.30) Financial Services Growth and Competitiveness Strategy - Rachel Reeves publishes new financial services sector plan. Company news: US earnings: Wells Fargo, JP Morgan, Blackrock, Citigroup Let's get to it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
