Plus, Elon Musk's Starlink network suffers a rare global outage.

Global news you can trust.

Download the Reuters App.

 

Daily Briefing

Daily Briefing

By Linda Noakes

Hello. Thailand rejects international mediation to end the fighting with Cambodia, France plans to recognize a Palestinian state, and Trump presses Powell to cut rates during a tense visit to the Fed.

Plus, Montreal over Miami - why Canadians are changing their vacation plans.

 

Today's Top News

 
A Thai mobile artillery unit fires towards Cambodia

A Thai mobile artillery unit fires towards Cambodia. REUTERS/Athit Perawongmetha

  • Thailand has rejected mediation efforts from third countries to end the ongoing conflict with Cambodia, as fighting rages for a second day. Today's Reuters World News podcast features Martin Petty, Breaking News Editor for Southeast Asia, who explains what's behind the dispute.
  • France intends to recognise a Palestinian state in September at the United Nations General Assembly, but the plan drew angry rebukes from Israel and the United States. Gaza is on the brink of running out of the specialised therapeutic food needed to save the lives of severely malnourished children.
  • Starlink systems used by Ukrainian military units were down for two and a half hours overnight, a senior commander said, part of a global issue that disrupted the satellite internet provider.
  • Iran pushed back on suggestions of extending a UN resolution that ratifies a 2015 nuclear deal as it began the first face-to-face talks with Western powers since Israel and the US bombed it last month.
  • Philippine Vice President Sara Duterte scored a big legal win when the Supreme Court struck down an impeachment complaint against her, ruling that it was unconstitutional.
  • President Donald Trump heads to Scotland for a trip that will mix golf with politics, mostly out of the public view.
  • As uproar over files relating to Jeffrey Epstein engulfs Trump and Congress, the US Supreme Court is due to wade into the controversy and decide whether to hear a bid by Ghislaine Maxwell to overturn her criminal conviction.
 

Business & Markets

 
President Donald Trump, Federal Reserve Chair Jerome Powell and Senator Tim Scott tour the Federal Reserve Board building. REUTERS/Kent Nishimura

President Donald Trump, Federal Reserve Chair Jerome Powell and Senator Tim Scott tour the Federal Reserve Board building. REUTERS/Kent Nishimura

  • Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the US central bank, criticizing the cost of renovating two historical buildings at its headquarters and pressing the case for lower interest rates.
  • Europe's smaller companies are emerging as a popular vehicle for investors to help insulate portfolios against both tariffs and a stronger euro, as cheaper credit and the prospect of more government spending bolster confidence in the economic outlook.
  • Volkswagen reported a 1.3-billion-euro first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker's first assessment of the damage from Trump's trade war.
  • Puma shares dropped 16% after the German sportswear brand said it now expects an annual loss as sales decline and tariffs dent profit.
  • The $8.4 billion merger between Paramount Global and Skydance Media won approval from US regulators, clearing the way for a sale that evolved into a clash over press freedom.
  • Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue "no more blank checks."
 

The Week Ahead

  • Trump's August 1 deadline for trade partners to sign deals or face hefty tariffs is fast approaching in a crucial week for markets.
  • We have a Federal Reserve meeting and US jobs data on the slate, as well as a jam-packed data calendar for the euro zone.
  • The Bank of Japan has a lot to consider when it meets as a new US trade deal clears some of the economic clouds, while the political scene at home becomes ever hazier.
  • Tech firms huge and small will converge in Shanghai this weekend to showcase their artificial intelligence innovations and support China's booming AI sector as it faces US sanctions.
  • Meanwhile, China's Vice Premier He Lifeng will visit Sweden for a new round of economic and trade talks with US officials.
 

Patriotic Canadians change vacation plans

 
Banff National Park in the Canadian Rocky Mountains

Banff National Park in the Canadian Rocky Mountains. REUTERS/Mark Blinch

Canadians are trading their annual vacation south of the border for road trips around Ottawa, the midnight sun in Yukon, whale watching in Nova Scotia or hiking in Banff.

The newfound desire to stay local started earlier this year when Trump threatened to annex Canada and imposed a series of tariffs on Canadian goods, spurring a 'Buy Canadian' movement to boycott US businesses and avoid traveling to the US.

Read more
 

Photos of the Week

A horseback rider performs a fire stunt during an equestrian show in Kyrgyzstan.

A horseback rider performs a fire stunt during an equestrian show in Kyrgyzstan. REUTERS/Vladimir Pirogov

See a selection of our top photography from around the world.