
Detroit Three automakers raise concerns about Japan trade deal
Matt Blunt, who heads the American Automotive Policy Council that represents the Detroit Three automakers, said "any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and US auto workers."
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Daily Mail
12 minutes ago
- Daily Mail
Americans encouraged to Venmo and Paypal the government to pay off national debt
As the US national debt nears $38trillion, the government has proposed a novel way for citizens to help pay off the tab. Americans are being encouraged to make donations with their Venmo and Paypal accounts. The option for a 'gift to reduce the Public Debt' was added to the US Department of the Treasury website a few months ago. It means that philanthropic residents with a burning desire to pay off Uncle Sam's debt will now have the option to use those methods, alongside traditional ones such as account transfers and credit and debit card payments. Allowing citizens to pay off the national debt - among other tabs - is nothing new, as the US Treasury, run by Scott Bessent, has long offered the option since 1996. But it seems they are now tapping into more popular payment systems, like Gen-Z favorite Venmo, to make it more easily accessible for those hesitant to attach their card and bank details. The current national debt stands at $36,721,531,033,602, as of Friday. As the US national debt nears $38trillion, Americans are now being encouraged to help pay off the tab with their Venmo and PayPal accounts Allowing citizens to pay off the national debt - among other tabs - is nothing new, as the US Treasury, run by Scott Bessent, has long offered the option since 1996. But it seems they are now tapping into more popular payment systems, like Gen-Z favorite Venmo It's up $34.5billion from the previous day, Treasury Department numbers show. The debt has grown each year since 2001, where it was at $10.3trillion and it doesn't appear the US will downsize its growing bill anytime soon after passing the Big Beautiful Bill. President Donald Trump's prized bill will add $3.4trillion to the debt over 10 years. The federal government also spent nearly $7trillion in the 2024 fiscal year, but collected approximately $5trillion. The US Treasury Department has burned through cash at a historic rate in March - an alarming signal that may require lawmakers to intervene to prevent the country from defaulting on the national debt. The agency burned through $286billion in the month of March alone. This is the largest single-month drawdown in American history, and it's only rivaled by the Treasury spending $279billion in August 2021 during the height of the pandemic. The change to payment methods was first spotted by NPR's Jack Corbett on X. Though it may seem unlikely that any American citizens would willingly hand the government more money, the feds have garnered $67.3million through the donation program since its inception. Although it may seem like a large amount, the government burns through that it less than a half an hour.


BBC News
44 minutes ago
- BBC News
Allianz Life: Insurance giant says most US customer data stolen in cyber-attack
Hackers have stolen personal information of a majority of insurance firm Allianz Life's 1.4 million customers in North America, its parent company said."On July 16, 2025, a malicious threat actor gained access to a third-party, cloud-based CRM system used by Allianz Life Insurance Company of North America (Allianz Life)," Allianz said in a statement to the BBC. The German parent company added that the hackers were "able to obtain personally identifiable data related to the majority of Allianz Life's customers, financial professionals, and select Allianz Life employees, using a social engineering technique".The data breach was only related to Allianz Life, according to the company. The insurance company disclosed the data breach in a legal filing with the attorney general in the US state of Maine. It did not specify how many people had been affected. In the statement, the insurance company said it had taken "immediate action" to contain the breach and had notified the FBI. It said that there was "no evidence the Allianz Life network or other company systems were accessed, including our policy administration system". Allianz - which has over 125 million customers globally - added that it was in the process of contacting and assisting the individuals affected by the data breach. A social engineering cyber-attack is when hackers pressure or trick users into giving away sensitive information, such as by impersonating a trusted company or person.


The Independent
an hour ago
- The Independent
Matcha craze sparks global supply chain issues amid huge demand and record-breaking heatwave
Record temperatures and an increasing global demand has stretched Japan 's supply of matcha this year, leading prices to rocket. Farmers and industry officials have spoken out as they struggle to meet the ever-increasing demand for the bright green tea drink from Japan, which has peaked in popularity this year. Matcha's popularity has been growing over recent years, with sales soaring by 202 percent in the UK in 2023 alone according to Orion Market Research. The antioxidant rich beverage has reached its apex this year, driven by social media and Japan's post-pandemic tourism boom. The Kyoto region, which accounts for a quarter of Japan's production of tencha - the stemmed leaves dried and ground into matcha - was hit by severe heatwaves last summer during Japan's hottest year on record, which led to weak yields in the recent April-May harvest. US-based tea importer Lauren Purvis told the BBC her customers were seeing what was once a month's supply run out in days: "Some cafes are even asking for a kilo a day. They're desperate to keep up," the Mizuba Tea Co. owner said. Masahiro Yoshida, a sixth-generation farmer, was only able to harvest 1.5 tons of tencha this year, down a quarter from his typical harvest of two tons. 'Last year's summer was so hot that it damaged the bushes, so we couldn't pluck as many tea leaves,' he told Reuters from his storefront in Uji, south of Kyoto. Traditionally, the tencha leaves are kept under shade for weeks while growing in order to develop the tea's 'umami' taste. The leaves are then harvested, dried and ground into powder using stone mills. Tealife founder Yuki Ishii told Reuters that it saw a ten-fold increase in demand for matcha from customers, despite the amount available from Japan declining. 'I'm basically always out of stock," he said. Japan produced 5,336 tons of tencha in 2024, nearly three times more than a decade before as more farmer's switch to the crop, according the Japanese Tea production Association. Despite this, the association expects lower matcha output this year. As well as surging demand and lesser tea crops this year, US tariffs on Japan have pushed up matcha prices. On Tuesday, Washington and Tokyo announced a trade deal which means there will be a 15 per cent import tax on Japanese products going into the US. The move has led matcha distributors to brace for the impact, with Ms Purvis saying orders surged by more than 70 per cent in early July ahead of a deadline for the two countries to reach a trade agreement. 'As Japanese tea is not grown in the US, there is no American industry under threat that tariffs need to protect,' she told the BBC. 'We hope there will be a realisation that specialty tea should be exempt.'