Supreme Court declines to hear case challenging parental consent for abortion
Montana's law, enacted in 2013, prohibits a doctor from providing an abortion to a patient under 18 without notarized written consent from a parent. The state's highest court concluded that the law violated the Montana state constitution, which includes broader protections for abortion than the US Constitution.
This is a breaking news story and will be updated.
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Yahoo
7 minutes ago
- Yahoo
Europe reacts with mix of relief and concern to US trade deal
By Philip Blenkinsop and Sudip Kar-Gupta BRUSSELS (Reuters) -European governments and companies reacted with both relief and concern on Monday to the framework trade deal struck with U.S. President Donald Trump, acknowledging what was seen as an unbalanced deal but one that avoided a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global trade, will see the U.S. impose a 15% import tariff on most EU goods - half the threatened rate but much more than what Europeans hoped for. Many of the specifics of the deal were not immediately known, however. "As we await full details of the new EU–U.S. trade agreement, one thing is clear: this is a moment of relief but not of celebration," Belgian Prime Minister Bart De Wever wrote on X. "Tariffs will increase in several areas and some key questions remain unresolved." Trump said the deal, including an investment pledge topping the $550 billion deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of U.S. exporters. It will bring clarity for European makers of cars, planes and chemicals. But the EU had initially hoped for a zero-for-zero tariff deal. And the 15% baseline tariff, while an improvement on the threatened rate of 30%, compares to an average U.S. import tariff rate of around 2.5% last year before Trump's return to the White House. European Commission chief Von der Leyen, describing Trump as a tough negotiator, told reporters on Sunday that it was "the best we could get". European stocks opened up on Monday, with the STOXX 600 at a four-month high and all other major bourses also in the green. Tech and healthcare stocks led the way. "The 15% rate is better than the market was fearing," said Jefferies economist Mohit Kumar. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector hard. MORE CLARITY, BUT 'NOT THE END OF THE STORY' French government ministers said on Monday that the deal had some merits - such as exemptions they hoped to see for some key French business sectors such as spirits - but was nevertheless not balanced. Industry minister Marc Ferracci stressed more talks - potentially lasting weeks or months - would be needed before the deal could be formally concluded. "This is not the end of the story," he told RTL radio. European companies, meanwhile, were left wondering whether to cheer or lament the accord. "Those who expect a hurricane are grateful for a storm," said Wolfgang Große Entrup, head of the German Chemical Industry Association VCI. "Further escalation has been avoided. Nevertheless, the price is high for both sides. European exports are losing competitiveness. U.S. customers are paying the tariffs," he said. Stellantis shares were up 3.5% and car parts maker Valeo jumped 4.7% while German pharma group Merck KGaA rose 2.9%, in a sign of relief for those sectors. Among the many questions that remain to be answered, however, is how the EU's promise to invest hundreds of billions of dollars in the U.S. and steeply increase energy purchases can be turned into reality. It was not immediately clear if specific pledges of increased investments were made or whether the details still must be hammered out. And while the EU pledged to make $750 billion in strategic purchases over the next three years, including oil, liquefied natural gas (LNG) and nuclear fuel, the U.S. will struggle to produce enough to meet that demand. While U.S. LNG production capacity is due to almost double over the next four years it will still not be enough to ramp up supplies to Europe, and oil production is expected to be lower than previously forecast this year. Despite the lingering unknowns, analysts stressed the deal still helped decrease uncertainty. Oil prices rose on Monday, as did the euro. "Now that there is more clarity, you would think that not only in the United States, but around the globe, there will be a little bit more willingness to look at investment, to look at expansions, and to look at where the opportunities are," said Rodrigo Catril, senior currency strategist at National Australia Bank. Sign in to access your portfolio
Yahoo
7 minutes ago
- Yahoo
Dollar stablecoins threaten Europe's monetary autonomy, ECB blog argues
FRANKFURT (Reuters) -The dollar's early dominance of stablecoins gives the U.S. an advantage that could ultimately push up borrowing costs for Europe, reduce the ECB's autonomy and increase geopolitical dependency on the U.S., an ECB blog post argued on Monday. Stablecoins, crypto assets pegged to a currency such as the dollar, have gained popularity in recent years and got a big boost earlier this month when U.S. President Donald Trump signed a law to create a regulatory regime, aimed at cementing the dollar's status as the global reserve currency. "Such dominance of the U.S. dollar would provide the United States with strategic and economic advantages, allowing it to finance its debt more cheaply while exerting global influence," ECB adviser Jürgen Schaaf said in a post that does not necessarily reflect the ECB's own views. "For Europe, this would mean higher financing costs relative to the United States, reduced monetary policy autonomy and geopolitical dependency," he added. If dollar-based stablecoins become widely used in the euro area, for payments, savings or settlement, the ECB's control over monetary conditions could be weakened, Schaaf argued. Dollar-pegged stablecoins issued by Tether and Circle have dominated the global market and the share of euro-denominated stablecoins remains marginal, with market capitalisation of less than 350 million euros, the blog post said. Europe should thus act quickly, creating the digital version of its euro currency, a project, that is being held up by legislative delays, and should foster the creation of more euro-based stablecoins. The EU should also foster the use of distributed ledger technology to speed up cheap cross-border payments, the blog argued. "Finally, stronger global coordination on stablecoin regulation is pivotal," the blog said. "If we forgo a common approach, we risk fuelling instability, regulatory arbitrage and global U.S. dollar dominance." Sign in to access your portfolio
Axios
9 minutes ago
- Axios
RFK Jr. reportedly plans to fire preventive care task force
Health Secretary Robert F. Kennedy Jr. plans to oust the 16-member expert panel that makes recommendations for preventive services that insurers must cover fully under the Affordable Care Act, according to reports. Why it matters: About 100 million people get no-cost cancer screenings, counseling and other services under the ACA. But some conservatives have urged Kennedy to replace the current members of the U.S. Preventive Services Task Force, saying they push race and gender ideology on doctors. Kennedy postponed a meeting of the panel scheduled for earlier this month amid speculation in the public health community that he could fire its members. The latest: Kennedy plans to dismiss all the members of the advisory panel because he views them as too "woke," the Wall Street Journal first reported, quoting people familiar with the matter. The Supreme Court last month upheld the structure of the task force in a case surrounding coverage of HIV prevention drugs, ruling that the long-standing panel of volunteer scientists are accountable to the Health and Human Services secretary, who has the power to remove and replace members at will. The case stemmed from a 2020 lawsuit by Christian-owned companies over a task force recommendation requiring them to cover no-cost HIV drugs in their employer-sponsored insurance. Kennedy has already fired all members of the panel that advises the Centers for Disease Control and Prevention on immunization recommendations, removing all 17 of its members and replacing them with handpicked successors.
