Donald Trump meets with Volodymyr Zelenskiy at the White House in Washington, D.C., February 28, 2025. REUTERS/Brian Snyder/File Photo |
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- Fed Chair Jerome Powell faces a choice between inflation-fighting rigor and defending the job market in his valedictory speech, at a time when incoming information has confounded his data-dependent strategy by pulling in both directions. His colleagues are split on which is the bigger risk. What can we expect from Powell's final Jackson Hole appearance?
- US prices for obesity-treatment pills that Eli Lilly and Novo Nordisk aim to launch next year likely will be on par with their weight-loss injections, analysts and investors say, in a departure from the usual practice of charging more for new medicines despite pressure to cut prices.
- Swiss watchmaker Swatch has issued an apology and pulled ads featuring images of an Asian male model pulling the corners of his eyes up and backwards in a "slanted eye" pose. Casey Hall joins today's Reuters World News podcast with the latest on the controversy.
- Air Canada's fleet of hundreds of planes remained grounded after striking flight attendants refused a government-backed order to get back to work and called on the airline to return to the bargaining table.
- A court ordered Australia's largest airline, Qantas Airways to pay a record fine of $58.64 million for illegally sacking 1,800 ground staff during the COVID-19 pandemic and criticised it for a lack of contrition.
- In the biggest tax overhaul since 2017, Indian Prime Minister Narendra Modi's government announced sweeping changes to the complex goods and services tax regime which will make daily essentials and electronics cheaper from October.
- Thailand will launch an 18-month pilot programme to allow foreign visitors to convert cryptocurrencies into baht to make payments locally, officials said, as part of efforts to rejuvenate the country's critical tourist sector.
- For more markets news, watch our daily rundown.
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Spain's party island Ibiza also suffers housing crunch as rents soar |
Gabriel Pizarro, 49, from Argentina, poses for a picture through the window of the caravan where he lives in Ibiza, Spain, July 28, 2025. REUTERS/Nacho Doce |
Behind Ibiza's clubbing scene and beaches a housing crisis has forced many locals and seasonal workers to share cramped apartments, commute from off the island or stay in tents and motorhomes in unauthorised encampments. Nearly 800 people have resorted to living in makeshift settlements, according to local authorities' figures from last year, which don't include an estimated 200 who lived in shacks, tents and vans at the "Can Rovi 2" camp before being evicted last month. Ibiza's problems reflect a broader issue in Spain, where a lack of affordable housing in cities and popular coastal destinations has sparked protests to demand rent controls and denounce overtourism. Activists have accused landlords of preferring short-term tourist lets to less-profitable extended leases. |
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An employee works to produce artificial Christmas trees at a factory in Shaoxing, Zhejiang province, China, April 9, 2025. REUTERS/Go Nakamura/File Photo |
US shoppers looking for fake Christmas trees and holiday decor this year will have fewer choices and face higher prices as tariffs on Chinese imports force retailers to scale back orders as they assess how tight customer budgets are. |
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