Bangladesh Jet Crash Triggers Student-Police Clashes
Hundreds of students clashed with security forces in Dhaka on Tuesday as they attempted to storm the Bangladesh Secretariat, the country's main government administrative complex, according to private broadcaster Jamuna TV. Live footage showed protesters hurling bricks at police and army personnel, who responded with tear gas and batons to disperse the crowd.
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The Hill
3 hours ago
- The Hill
Tens of thousands flee their homes as Thailand and Cambodia clash
SURIN, Thailand (AP) — Tens of thousands of people sought refuge on Friday as border fighting between Thailand and Cambodia entered a second day, heightening fears of an extended conflict. The U.N. Security Council held an emergency meeting behind closed doors later Friday in New York, while Malaysia, which chairs the 10-nation regional bloc that includes both countries, called for an end to hostilities and offered to mediate. The council did not issue a statement but a council diplomat said all 15 members called on the parties to deescalate, show restraint and resolve the dispute peacefully. The council also urged the regional bloc, the Association of Southeast Asian Nations known as ASEAN, to help resolve the border fighting, the diplomat said, speaking on condition of anonymity because the meeting was private. Cambodia's U.N. Ambassador Chhea Keo told reporters afterward that his country, which called for the emergency meeting, 'asked for immediate ceasefires, unconditionally, and we also call for the peaceful solution to the dispute.' He responded to accusations that Cambodia attacked Thailand asking how a small country with no air force could attack a much larger country with an army three times its size, stressing, 'We do not do that.' UN Security Council urges restraint by both sides Keo said the Security Council called for both sides to exercise 'maximum restraint and resort to diplomatic solution' which is what Cambodia is calling for as well. Asked what he expects next, the ambassador said: 'Let's see how the call can be heard by all the members there.' Thailand's U.N. ambassador left the meeting without stopping to talk to reporters. The Thai Health Ministry on Friday said more than 58,000 have fled from villages to temporary shelters in four affected border provinces, while Cambodian authorities said more than 23,000 people have evacuated from areas near the border. The latest flare-up in a long-running border dispute between the two countries has killed at least 19 people in Thailand — mostly civilians —while Cambodia confirmed its first fatality on Friday. Thailand's acting prime minister, Phumtham Wechayachai, said Friday that Cambodia may be guilty of war crimes due to the deaths of civilians and damage caused to a hospital. He said Thailand had exercised the 'utmost restraint and patience in the face of provocations and aggression' from Cambodia. Tensions over a disputed border area erupted into fighting after a land mine explosion along the border wounded five Thai soldiers on Wednesday. Clashes break out across border areas The Thai military reported clashes early Friday in multiple areas along the border, including near the ancient Ta Muen Thom temple claimed by both sides. Associated Press reporters near the border could hear sounds of artillery from early morning hours. The Thai army said Cambodian forces had used heavy artillery and Russian-made BM-21 rocket launchers, prompting what Thai officials described as 'appropriate supporting fire' in return. Thailand said six of its soldiers and 13 civilians were killed, including children, while 29 soldiers and 30 civilians were wounded. Cambodia's chief official in Oddar Meanchey province, Gen. Khov Ly, said a man died Thursday after a Thai rocket hit a Buddhist pagoda where he was hiding. At least four civilians in the province were also wounded Thursday. The Cambodian Education Ministry claimed that on Friday two Thai rockets had hit a school compound in Oddar Meanchey but caused no injuries. It said all schools in the province have been closed. The Thai army denied it targeted civilian sites in Cambodia, and accused Cambodia of using 'human shields' by positioning their weapons near residential areas. Thousands flee villages near the border As the fighting intensified, villagers on both sides have been caught in the crossfire, leading many to flee. Around 600 people took shelter at a gymnasium in a university in Surin, Thailand, about 80 kilometers (50 miles) from the border. Evacuees sat in groups, on mats and blankets, and queued for food and drinks. Seamstress Pornpan Sooksai was accompanied by four cats in two fabric carriers. She said she was doing laundry at her home near Ta Muen Thom temple when shelling began Thursday. 'I just heard, boom, boom. We already prepared the cages, clothes and everything, so we ran and carried our things to the car. I was frightened, scared,' she recalled. Rattana Meeying, another evacuee, said she had also lived through the 2011 clashes between the two countries but described this flare-up as worse. 'Children, old people, were hit out of the blue,' she said. 'I never imagined it would be this violent.' At the nearby Phanom Dong Rak hospital, periodic explosions could be heard Friday, and a military truck arrived with three injured Thai soldiers, including one who had both legs severed. Thursday's shelling shattered windows at one of the hospital's buildings and damaged its roof. In the neighboring Sisaket province, more villagers took their belongings and left homes in a stream of cars, trucks and motorbikes after they received an evacuation order on Friday. Across the border in Cambodia, villages on the outskirts of Oddar Meanchey province were largely deserted. Homes stood locked, while chickens and dogs roamed outside. Some villagers earlier dug holes to create makeshift underground bunkers, covering them with wood, tarpaulin and zinc sheets to shield themselves from shelling. Families with children were seen packing their belongings on home-made tractors to evacuate, though a few men refused to leave. A remote Buddhist temple surrounded by rice fields accommodated several hundred evacuated villagers. Women rested in hammocks, some cradling babies, while children ran about. Makeshift plastic tents were being set up under the trees. Veng Chin, 74, pleaded with both governments to negotiate a settlement 'so that I can return to my home and work on the farm.' ASEAN chair calls for calm The conflict marks a rare instance of armed confrontation between ASEAN member countries though Thailand has tangled with Cambodia before over the border and has had sporadic skirmishes with western neighbor Myanmar. Malaysian Prime Minister Anwar Ibrahim said Friday that Thailand and Cambodia had agreed to a ceasefire and to withdraw their troops from the border, but requested more time before implementing the action, according to a report by Malaysia's Bernama national news agency. Anwar said he had spoken to both Cambodian leader Hun Manet and Thailand's Phumtham and urged them to open space for 'peaceful dialogue and diplomatic resolution,' while offering to have Malaysia facilitate talks. U.N. Secretary-General Antonio Guterres has also called for restraint and urged both countries to resolve disputes through dialogue, according to U.N. deputy spokesman Farhan Haq. It's the latest flareup in longstanding border tensions The 800-kilometer (500-mile) frontier between Thailand and Cambodia has been disputed for decades, but past confrontations have been limited and brief. The last major flare-up in 2011 left 20 dead. The current tensions broke out in May when a Cambodian soldier was killed in a confrontation that created a diplomatic rift and roiled Thailand's domestic politics. Things got worse when a land mine wounded five Thai soldiers on Wednesday, leading Bangkok to close the border and expel the Cambodian ambassador. The next day, clashes broke out along the border.
Yahoo
3 hours ago
- Yahoo
Tariffs will drive up U.S. prices even with Trump trade deals, experts say
The new normal for U.S. tariffs on foreign goods starts at 15%. Even as President Trump seeks to forge new terms of trade with Japan, the European Union and other global economic partners, he is raising the floor for tariffs to their highest level in decades. Speaking at an AI summit on Wednesday, Mr. Trump said "we'll have a straight, simple tariff of anywhere between 15% and 50%," conditioning the lower rate on countries opening their economies to the U.S. The White House has said sharply higher tariffs could take effect on dozens of countries as soon as Aug. 1 unless they ink new trade deals. The Trump administration has a separate negotiating timeline with China, which faces an Aug. 12 deadline for an agreement. As these new rules of international commerce take shape, companies across a range of industries are emphasizing that higher tariffs translate into higher operational costs — and higher prices for consumers. For example, Nestlé on Thursday said it was considering hiking prices for candy bars and other products as tariffs threaten to eat into the food company's profit margins. The same day, Italian fashion brand Moncler said it has already hiked prices for its apparel to offset additional tariff-related costs. And General Electric said this week that proposed U.S. tariffs, should they take effect, would cost the company around $500 million in 2025, noting that it would move to offset those taxes through "cost controls and pricing actions." Orange juice importer Johanna Foods has gone a step further, this week filing a lawsuit against the Trump administration over its proposed 50% tariff on Brazil, which the New Jersey company said would seriously hurt its business and force it to hike product prices by up to 25%. The White House disputes that higher U.S. tariffs will drive up costs for businesses and consumers. "The administration has consistently maintained that the cost of tariffs will be borne by foreign exporters who rely on access to the American economy, the world's biggest and best consumer market," White House spokesman Kush Desai told CBS MoneyWatch in a statement. Desai also pointed to a recent analysis by the White House's Council of Economic Advisers that he said shows import prices falling this year. Price hikes not "instantaneous" Economists warn that consumers should brace for higher prices on a range of goods, from leather products and clothing to electronics and automobiles, later this year. "Up to now there has been only limited passthrough from tariffs into final consumer prices, but we still expect the impact to gradually mount in the second half of this year," Paul Ashworth, chief North America economist with Capital Economics, told investors in a research note. "Now that the Trump administration is concluding deals that would see the tariff rate facing most trading partners settling at between 15% and 20%, with even higher rates levied on Chinese imports, we suspect retailers will be forced to finally raise the prices paid by consumers." Inflation in the early part of 2025 remained fairly contained. That's because many companies and consumers accelerated their purchases of imported goods to avoid the risk of paying more if, or when, steep new tariffs take effect. Meanwhile, in the short-term, sharply higher prices are unlikely across the board, according to trade experts. "When you open up the hood of that, it's not going to be even across all categories of spending," Ernie Tedeschi, director of economics at the Budget Lab at Yale, told CBS MoneyWatch. "It's categories of spending where we import more that are going to be more sensitive to tariffs." But over the longer term, an increased baseline tariff, coupled wtih higher levies on individual countries, is projected to drive up U.S. prices by 2% over the next two years, according to an analysis from the Yale Budget Lab. "This isn't an instantaneous, 'We wake up the next morning and the world is different,'" Tedeschi added. But as the new U.S. tariff regime becomes embedded in global supply chains, some import-heavy product categories could see especially sharp price increases, he said. Specifically, foreign-made leather shoes and handbags, along with apparel, could see prices spike by at least 40%, while the cost of electronics could jump more than 20%, according to the Yale Budget Lab. Johnson says Jeffrey Epstein files controversy is not a hoax Idaho murders documents released after Bryan Kohberger is sentenced to life in prison The Sentencing of Bryan Kohberger | "48 Hours" Podcast
3 hours ago
Is Elon Musk to blame for Tesla's struggles? Experts weigh in
Tesla, the electric carmaker led by Elon Musk, suffered a sharp drop in profits over a recent three-month period as car sales slowed and tariffs hiked costs, the company said this week. Shareholders envisioned a different outcome when Tesla stock surged more than 50% in the aftermath of the November 2024 election of President Donald Trump, then a close ally of Musk. Since a recent peak in December, the majority of those gains have been erased. Musk, the company's chief executive and the world's richest person, draws attention due in part to his outspoken presence on social media and divisive stint in the White House. The recent struggles at Tesla have coincided with increased competition in the electric vehicle (EV) industry, posing a question for analysts: Is Musk partially to blame? Experts who spoke to ABC News acknowledged the surge of EV competition and credited Musk with pushing the company into potential growth areas like humanoid robots and self-driving taxis, the latter of which are being tested in Austin, Texas. The company's downturn in part reflects a transition from EVs to those new products, which have yet to generate meaningful revenue, they added. Still, the experts said, Musk bears some of the blame for the company's difficulty fending off other EV makers as well as a delayed rollout of alternate products. They also pointed to losses suffered as result of some of Trump's policies, which Musk struggled to mitigate while serving in the administration. "Musk is CEO -- the buck stops with him. As a CEO in a competitive environment, he's the one who has to have the vision and lead the troops," David Meier, a senior investment analyst at The Motley Fool, told ABC News. "But there's a lot going on in the world that impacts Tesla's business." Tesla did not immediately respond to ABC News' request for comment. Speaking on an earnings call on Wednesday, Musk said the company faces "a few rough quarters ahead." He added that, ultimately, humanoid robots and driverless taxis would make Tesla "the most valuable company in the world by far." The company's profits fell 16% over a three-month period ending in June that overlapped with the end of Musk's tenure in the White House and his ensuing public clash with Trump, an earnings release on Wednesday showed. Total revenue decreased by 12% from one year earlier, to $22.4 billion, while revenue derived from car sales dropped 16% over the second quarter of 2025 compared to a year ago, the earnings showed. In a statement, Tesla touted a "strong balance sheet," but acknowledged a "sustained uncertain macroeconomic environment resulting from shifting tariffs." The company also faces "unclear impacts from changes to fiscal policy and political sentiment," Tesla said. The company has faced heightened competition from domestic and foreign carmakers rolling out electric vehicles. Chinese EV-maker BYD outperformed Tesla in total car sales for the first time ever last year. BYD vehicles are essentially unavailable in the U.S. due to sky-high tariffs on Chinese EVs. "Part of it is outside of Tesla's control," Seth Goldstein, an analyst who studies the EV sector at research firm Morningstar, told ABC News. Goldstein cited an apparent dropoff in sales earlier this year among consumers awaiting a refresh of the company's popular Model Y. However, Goldstein added, the company has been slow to release an affordable EV model in response to a flurry of low-cost options among its rivals, which include China's BYD and traditional carmakers like Nissan and Hyundai. "Looking at Elon Musk, he's the leader of Tesla. It's fair to wonder if he was a little distracted with his political action in the first half of the year and that caused some production to slip, including production of an affordable model," Goldstein said. Musk's position at the White House, which ended in May, appeared to yield few benefits for Tesla. The company faces a pinch from several Trump policies, including the end of tax credits for EV buyers, the nixing of regulatory credits purchased from Tesla by other firms, as well as tariffs on cars and car parts. The CEO's political role also set off demonstrations at Tesla dealerships worldwide in protest of his effort to slash government spending as leader of the Department of Government Efficiency (DOGE). "It was a dark chapter and investors are glad to put it in the rear-view mirror," Dan Ives, a managing director of equity research at the investment firm Wedbush and a longtime Tesla bull, told ABC News. As car sales have slowed, Musk has touted a future autonomous car service, dubbed robotaxis, as a growth area for the business. Last month, Tesla launched a limited version of what it claimed is a self-driving taxi service in Austin, Texas. The rollout marked a milestone for the company's self-driving taxi aspirations, but limitations placed on the vehicles and a series of apparent miscues suggest the technology remains far from wide adoption, some analysts previously told ABC News. Musk has also touted humanoid robots as a future growth area for Tesla. While the product remains in an early phase, Musk expects the company to eventually produce more than a million robots each year, he said on this week's earnings call. Goldstein, of Morningstar, applauded Musk's effort to move Tesla away from the highly competitive auto market toward nascent tech sectors. "Musk's long-term goal is to transition from an automaker to an AI robotics company -- that's still on track and making progress," Goldstein said. "That's where it has greater opportunities to grow a competitive advantage." The ultimate outcome for Tesla's forthcoming products remains unclear but Musk has earned the benefit of the doubt, according to some analysts.
