Oil volatility could affect ECB rate cuts, warns French bank chief
The European Central Bank (ECB) needs to assess fluctuations in oil prices and the euro as it sets borrowing costs, according to Governing Council member Francois Villeroy de Galhau.
While the ECB doesn't target a particular exchange rate, the common currency has demonstrated surprising strength against the dollar since US president Donald Trump began his tariff push.
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Irish Times
2 hours ago
- Irish Times
Israeli gunfire and strikes kill 42 in Gaza as many of the dead sought aid
Israeli air strikes and gunshots killed at least 42 people in Gaza overnight and into Saturday, according to Palestinian health officials and the local ambulance service, as starvation deaths continued and ceasefire talks appear to have stalled. The majority of victims were killed by gunfire as they waited for aid trucks close to the Zikim crossing with Israel, said staff at Shifa hospital, where the bodies were taken. Israel's military said it fired warning shots to distance a crowd 'in response to an immediate threat' and said it was not aware of any casualties. Those killed in the strikes include four people in an apartment building in Gaza City among others, hospital staff and the ambulance service said. READ MORE The strikes come as ceasefire talks between Israel and Hamas have hit a standstill after the United States and Israel recalled their negotiating teams on Thursday, throwing the future of the talks into further uncertainty. Palestinians mourn during the funeral of people who were killed while trying to reach aid trucks. Photograph: Abdel Kareem Hana/AP Israeli prime minister Binyamin Netanyahu said on Friday his government was considering 'alternative options' to ceasefire talks with Hamas. His comments came as a Hamas official said negotiations were expected to resume next week and portrayed the recall of the Israeli and American delegations as a pressure tactic. Egypt and Qatar, which are mediating the talks alongside the US, said the pause was only temporary and that talks would resume, though they did not say when. The United Nations and experts said that Palestinians in Gaza were at risk of famine, with reports of increasing numbers of people dying from causes related to malnutrition. While Israel's army says it is allowing aid into the enclave with no limit on the number of trucks that can enter, the UN says it is hampered by Israeli military restrictions on its movements and incidents of criminal looting. The Zikim crossing shootings come days after at least 80 Palestinians were killed trying to reach aid entering through the same crossing. During the shootings on Friday night, Sherif Abu Aisha said people started running when they saw a light that they thought was from the aid trucks, but as they got close, they realised it was from Israel's tanks. That is when the army started firing on people, he told The Associated Press. He said his uncle, a father of eight, was among those killed. 'We went because there is no food… and nothing was distributed,' he said. Smoke rises into the sky following an Israeli air strike in the northern Gaza Strip (Leo Correa/AP/PA) Israel is facing increased international pressure to alleviate the catastrophic humanitarian crisis in Gaza. More than two dozen Western-aligned countries and more than 100 charity and human rights groups have called for an end to the war, harshly criticising Israel's blockade and a new aid delivery model it has rolled out. The charities and rights groups said even their own staff were struggling to get enough food. For the first time in months Israel said it is allowing airdrops, requested by Jordan . A Jordanian official said the airdrops will mainly be food and milk formula. UK prime minister Keir Starmer wrote in a newspaper article on Saturday that the UK was 'working urgently' with Jordan to get British aid into Gaza. Aid group the World Central Kitchen said on Friday it was resuming limited cooking operations in Deir al-Balah after being forced to halt due to a lack of food supplies. It said it is trying to serve 60,000 meals daily through its field kitchen and partner community kitchens, less than half of what it has cooked over the previous month.
The Journal
4 hours ago
- The Journal
Donald Trump plays golf in Scotland as protesters rally
US PRESIDENT DONALD Trump played golf under tight security on the first full day of a visit to Scotland today, as hundreds of protesters took to the streets in major cities. Trump played at his Turnberry resort with son Eric and US ambassador to the UK Warren Stephens, waving to photographers following his arrival in his mother's birth country yesterday evening. His presence has turned the picturesque and normally quiet area of southwest Scotland into a virtual fortress, with roads closed and police checkpoints in place. Police officers – some on quad bikes and others on foot with sniffer dogs – patrolled the famous course and the sandy beaches and grass dunes that flank it. Secret Service snipers were positioned at vantage points while some other golfers on the course were patted down by security personnel. The 79-year-old Trump touched down yesterday at nearby Prestwick Airport as hundreds of onlookers came out to see Air Force One and catch a glimpse of its famous passenger. The president has professed a love of Scotland, but his controversial politics and business investments in the country have made for an uneasy relationship. Speaking to reporters on the tarmac, Trump immediately waded into the debate surrounding high levels of irregular migration, and lashed out at renewable energy efforts. 'You better get your act together or you're not going to have Europe anymore,' he said, adding that migration was 'killing' the continent. 'Stop the windmills. You're ruining your countries,' he added. Trump's five-day visit, which is set to mix leisure with business and diplomacy, has divided the local community. Advertisement Several hundred protesters demonstrated outside the US consulate in the capital Edinburgh and in the city of Aberdeen, near where Trump owns another golf resort. People take part in a Stop Trump Scotland protest outside the US Consulate in Edinburgh. Alamy Stock Photo Alamy Stock Photo The protests were organised by the Stop Trump Coalition. Participants held placards with slogans like 'Scotland hates Trump' and waved Palestinian flags. 'I am here because of fascism in America under Trump's rule. I am here because of genocide in Gaza that is being funded and enabled by British and American governments,' said 44-year-old Amy Hanlon in Aberdeen. No demonstrations could be seen near Turnberry. Trade talks Not everyone was against his visit. At Prestwick Airport yesterday evening a boy held a sign that read 'Welcome Trump' while a man waved a flag emblazoned with Trump's most famous slogan – 'Make America Great Again'. 'I think the best thing about Trump is he's not actually a politician yet he's the most powerful man in the world and I think he's looking at the best interests of his own country,' said 46-year-old Lee McLean, who had travelled from nearby Kilmarnock. 'Most politicians should really be looking at the best interests of their own country first before looking overseas,' he told news agency AFP. Trump had no public events scheduled for today, but he posted on his Truth Social network to say he was talking with the leaders of Cambodia and Thailand in a bid to end their border conflict that has left at least 33 people dead. Trump is due to discuss trade with EU chief Ursula von der Leyen in Turnberry tomorrow. He is also due to meet UK Prime Minister Keir Starmer, before heading to Balmedie in Aberdeenshire where he is expected to formally open a new golf course at his resort there. Trump is scheduled to return to the US on Tuesday but will be back in the UK for a state visit between 17-19 September, when he will be hosted by King Charles III.
The Journal
5 hours ago
- The Journal
NASA says it will lose about 20 percent of its workforce as a result of Trump cuts
The US space agency NASA will lose about 3,900 employees under Donald Trump's sweeping effort to trim the federal workforce — at the same time as the president prioritises plans for crewed missions to the Moon and Mars. In an emailed statement, NASA said around 3,000 employees took part in the second round of its deferred resignation program, which closed late yesterday. Combined with the 870 who joined the first round and regular staff departures, the agency's civil servant workforce is set to drop from more than 18,000 before Trump took office in January to roughly 14,000, a more than 20 per cent decrease. Those leaving the National Aeronautics and Space Administration on the deferred resignation program will be placed on administrative leave until an agreed departure date. An agency spokesperson said the figures could shift slightly in the coming weeks. Advertisement 'Safety remains a top priority for our agency as we balance the need to become a more streamlined and more efficient organization and work to ensure we remain fully capable of pursuing a Golden Era of exploration and innovation, including to the Moon and Mars,' the agency said. Earlier this year, the Trump administration's proposed NASA budget put a return to the Moon and a journey to Mars front and centre, slashing science and climate programs. The White House says it wants to focus on 'beating China back to the Moon and putting the first human on Mars.' China is aiming for its first crewed lunar landing by 2030, while the US program, called Artemis, has faced repeated delays. NASA is still run by an acting administrator after the administration's initial pick to lead the agency, tech billionaire Jared Isaacman — endorsed by former Trump advisor Elon Musk — was ultimately rejected by the Republican president. © Agence France-Presse
