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washingtonpost.com | 1 hrs. 36 min. ago

Trump announces plan to weaken methane rules for oil and gas companies

#Boom #Compliance #CTA #Don #economy #energy #Fund #Gas #Guidance #index #Infrastructure #Iran #Li #Mexico #oil #R #Regulation #Support #trade #Trump #United States

The Trump administration is moving to weaken a regulation that requires oil and gas companies to limit leaks of methane, a more potent driver of climate change than carbon dioxide.President Donald Trump announced the Environmental Protection Agency’s proposed regulation at an event in Lubbock, Texas, on Tuesday evening.

EPA Administrator Lee Zeldin said earlier this month that the agency was “days not weeks” away from issuing the proposal, roughly outlining its contents.“We’ve been working on this for a long time,” Trump said at the rally. “We were working on this before the war broke out,” he added, referring to the Feb.

28 attack on Iran. Get Climate Coach newsletterNews and guidance on climate, science and technology. Sign up for freeThe move comes even as several major oil companies, including Chevron and ExxonMobil, have long supported direct federal regulation of methane, arguing that industry-wide rules are needed to curb leaks.

But that support has not always extended to every provision: The companies have at times pressed regulators to narrow monitoring and reporting requirements.Smaller independent producers and their trade groups have more aggressively fought methane rules as burdensome and costly. Executives at some of those firms — including several major donors to Trump — have pushed to roll them back.Methane, which traps about 80 times as much heat as carbon dioxide over a 20-year period, accounts for roughly 12 percent of greenhouse gases, according to an EPA webpage that the agency removed from its site after Trump took office.

Another EPA report says methane “emissions represent the greatest opportunity for low or no-cost mitigation” of climate change.Last year, Zeldin said the rule aimed at curbing methane leaks and dozens of other regulations were being reconsidered in what he has called the largest deregulatory action in U.S. history, aimed at saving businesses and consumers money.

Environmental advocates say any savings are more than outweighed by public health costs and damage to the economy caused by climate change and increasing weather extremes.“Americans must be able to afford to heat their homes in the winter and fill up their car and drive to work,” Zeldin said in a statement earlier this month, before the proposal’s release, while attending the New Mexico Oil and Gas Association’s annual meeting.

“They can’t do that when the people producing the energy are weighed down by unnecessary burdens.”The 2023 Biden-era rule requires companies to reduce methane emissions from new and existing oil and gas infrastructure, demanding monitoring and retrofitting old equipment to reduce leaks. The standard also instituted curbs on volatile organic compounds, which can cause air pollution that is harmful to breath or warm the climate.“The oil and gas industry says it’s a ‘good-faith’ partner eager to help craft regulations, but time and time again it’s worked behind the scenes to delay and weaken them.

As a result, the United States today emits more methane from its oil and gas sector than any other country in the world,” Julia Kane, a researcher with Fieldnotes, an oil and gas watchdog group, said in a statement.“Now, Lee Zeldin’s EPA is giving oil and gas corporations exactly what they’ve long wanted: a toothless methane standard they can use to pretend they’re well-regulated, all while they continue to knowingly leak and flare dangerous amounts of the heat-trapping gas.”Most Read From The Washington PostBoomer women are dating after divorce.

Men don’t always meet their standards.I went to Mexico to test-drive the cars Americans can’t buyAt 80, he’s a top dementia expert. Here’s how he keeps his brain healthy.Grand jury declines to indict Cassidy Hutchinson over Jan. 6 testimonyTrump defends White House redecorating — and Cheesecake Factory — from Obama’s mockingThe Trump EPA proposal is expected to reverse the 2023 rule’s ban on routine flaring, allowing companies to burn off excess gas rather than capturing it.

The draft policy would also eliminate the Super Emitter Program, which required companies to take action on major methane leaks when detected by third-party watchdogs.Methane has accounted for about 30 percent of global temperature rise since the industrial revolution, according to the International Energy Agency, and the rollback is alarming environmental advocates.The proposed regulation would also change standards for “marginal wells,” which produce only 6 percent of U.S. oil and gas but account for about half of the sector’s methane emissions.Zeldin said in October that the old rules wrongly lumped together “mom and pop” oil and gas producers, which he said could be put out of business by the rules, with multinationals such as Exxon and Chevron.“Part of this process has been to keep the concerns that are coming in from the application of [the regulations] to these far smaller operations and how to get the regulation right for them,” Zeldin told reporters in a briefing at EPA headquarters.

Myron Ebell, who ran the EPA’s transition team going into Trump’s first term, praised the potential regulation change for trying to “level the playing field” between Big Oil and independent producers.The EPA weakened enforcement of existing methane regulations last year, saying the agency’s “enforcement and compliance will no longer focus on methane emissions from oil and gas facilities” in a memo on March 12, 2025. The Environmental Defense Fund, an advocacy group, estimates that additional gas released or flared in the first year under that policy could have otherwise supplied nearly 19 million households.In November, the EPA also delayed deadlines to comply with many of the 2023 standards until 2027.This article originally appeared on Washington Post at https://www.washingtonpost.com/climate-environment/2026/10/27/trump-announce-relaxed-rules-oil-firms-methane-leaks/

smh.com.au | 3 hrs. 40 min. ago

Thank you, Mr President: BlueScope gets a windfall from Trump’s tariffs

#economy #Import #R #tariff #tariffs #Trump

Donald Trump’s tariffs on steel imports have kicked off a bonanza for steel producers in the US, including BlueScope. They’re a pain for the wider economy.

koreatimes.co.kr | 4 hrs. 2 min. ago

Seoul stocks open sharply higher on revived AI optimism, SK hynix earnings

#AI #artificial intelligence #Benchmark #Chips #earnings #Federal Reserve #index #interest rate #KOSPI #Nasdaq #Optimism #profit #R #Return #semiconductor #shares #stock #stocks #Tech

Korean stocks opened sharply higher Wednesday, tracking overnight gains on Wall Street, as strong artificial intelligence (AI)-driven semiconductor earnings lifted investor sentiment ahead of the Federal Reserve's interest rate decision. The benchmark Korea Composite Stock Price Index (KOSPI) rose 183.73 points, or 3.26 percent, to 5,822.07 as of 9:15 a.m., extending its rally after surging more than 3 percent in the previous session.

Overnight, U.S. stocks extended their gains, led by a rally in AI-related technology shares. The tech-heavy Nasdaq Composite climbed 1.18 percent, while the Philadelphia Semiconductor Index jumped 3.6 percent, providing a positive note for Korean chipmakers. Before the opening bell, SK hynix reported a 631 percent spike in third-quarter operating profit at 83.33 trillion won ($62.78 billion), with sales soaring 327.9 percent to 104.61 trillion won on robust demand for AI memory chips.

The world's second-largest memory chip maker also announced an additional 60 trillion won in shareholder returns. Meanwhile, investors remained cautious ahead of the Federal Re

axios.com | 8 hrs. 48 min. ago

Trump praises Canadian separatists amid delicate trade talks

#Canada #Hold #Import #Inflation #Li #Main #Mississippi #Momentum #R #relief #Support #tariff #tariffs #trade #trade war #Trump

President Trump applauded Quebec's new separatist premier Tuesday, continuing to jab at Ottawa despite fragile trade talks that seemed to be gaining momentum. The big picture: Even as Trump's top economic adviser suggested a deal to ease the ongoing trade war is possible, the president has continue to antagonize Canada.The U.S. recently accused Canada of trying to influence American elections through retaliatory tariffs, which Canadian officials have denied.Meanwhile, Trump's continued to antagonize Canada from the campaign trail, saying at a Mississippi stop Monday that it was "charging us massive tariffs" and has "treated us badly."Driving the news: In a brief shoutout Tuesday, the president congratulated Paul St-Pierre Plamondon for his win some three weeks ago.While a recent vote stymied an Albertan separatist push, St-Pierre Plamondon has vowed to hold Quebec's third referendum on independence, though he's said it wouldn't happen until after Trump leaves office.St-Pierre Plamondon's center-left Parti Québécois won 60 of 127 seats, leaving it four short of a majority.

It would likely need support from a fellow separatist party to advance a referendum.Prime Minister Mark Carney has emphasized the importance of Canadian unity as the nation faces unprecedented hostility from the American president.Trump shared an Irish Times article that framed the Quebec vote as a "blow to Mark Carney" that could "hamper" his "efforts to maintain national unity against Trump."Zoom out: Trump on Tuesday also congratulated British Columbia's premier-designate, Lorne Doerkson, after his Conservatives swung the province rightward."Conservatives are moving strong in Canada!" the president wrote.

Doerkson, however, has rejected suggestions that he's aligned with the president, similar to St-Pierre Plamondon.Friction point: The U.S. Embassy in Canada last week accused Canadian leaders of trying to influence American politics with reciprocal tariffs on politically important products and states in the U.S.The White House did not immediately respond to Axios' request for comment.The intrigue: White House economic adviser Kevin Hassett said in a Fox interview Sunday that negotiations with Canada have "picked up" and are "gathering steam."Carney told reporters Monday trade talks had intensified slightly since the talks last fell apart in August.Midterm politics are complicating Trump's tariff agenda, Axios' Courtenay Brown reports.

Last week, the the White House exempted certain Canadian imports from 50% tariffs following pressure from Sen. Susan Collins (R-Maine).Collins pledged to seek to seek further tariff relief and encourage a broader trade agreement with Canada.The bottom line: Trump relationship with Canada has been tumultuous — rattled by trade tensions and the president's persistent "51st state" threats.Go deeper: Trump's Canada feud collides with Alberta's separatist vote

nypost.com | 10 hrs. 52 min. ago

FBI puts Hochul in her place for brushing off probe into Dem boss — as they reveal they’re working with NYS

#Fed #R

The FBI put Gov. Kathy Hochul in her place after she labeled the federal probe into a Democratic Party boss a “political hit job” — as the feds revealed its agents are working jointly with state investigators. Hochul had blasted an FBI investigation into Suffolk County Democratic Party Chairman Rich Schaffer even though she admitted...

koreatimes.co.kr | 11 hrs. 31 min. ago

Trump says will respect US midterm results 'if they're honest'

#GAV #Inflation #oil #oil price #R #Trump

JOINT BASE ANDREWS — President Donald Trump said Tuesday he would respect the results of the U.S. midterm elections "if they're honest," in what appeared to be a fresh bid to sow doubt ahead of next week's crucial vote. Trump has ramped up his baseless, years-old claims of mass voter fraud as polls show Republicans could lose control of Congress in Tuesday's elections.

"I will, if they're honest elections," Trump told reporters when asked if he would respect the results of the midterms, as he headed on a campaign trip to Texas. The 80-year-old president also gave a guarded pledge to work with the rival Democrats if Republicans lose their grip on the House of Representatives and Senate.

"We'll figure a way. Look, I have strong veto. I hope that that won't be the case, but if it is, that's happened before with many presidents," Trump said at Joint Base Andrews near Washington. "You have strong veto, and you end up working on deals."

Republicans fear a Democrat "blue wave" in the midterms as voters punish them over inflation stoked by oil prices that have soared since Trump launched his war

axios.com | 14 hrs. 16 min. ago

Key Senate Democrats set high bar for permitting bill support

#budget #Dollar #energy #Fund #Hold #index #Inflation #Infrastructure #Innovation #Li #R #SET #Support #Trump

Four Senate Democrats are pressing Trump officials to begin restoring billions of dollars in clean energy grants before a key vote on the permitting deal.Why it matters: The path for the bipartisan bill in the lame duck session just got steeper. The big picture: Before the first vote, the senators — Tammy Duckworth (Ill.), Ron Wyden (Ore.), Ed Markey (Mass.), and Jeff Merkley (Ore.)

— want Trump aides to tell the Energy Department to:Begin reinstating grants terminated in October 2025 that have not already been restored with a clear timeline for completion, and allow recipients to draw on the funds under the original terms.Pledge in writing not to cancel grants based on the political hue of a state or its officials.Driving the news: Their new letter to the bill's authors stops shy of an ultimatum, but says it would be "compelling" if these steps occurred.It shows deep misgivings about the bill, arguing it could provide new tools for Trump to favor fossil fuels."[T]he promise of BAAJA will only succeed if President Trump takes care that it is faithfully executed.

The Trump administration's record gives us no basis to assume that he will," the letter states, calling the bill by its acronym.Catch up quick: The letter recounts the scuttling of Biden-era grants, and White House budget chief Russ Vought listing states that did not vote for President Trump in 2024.The Energy Department has acknowledged, in a court filing, that selections of grants for termination in October 2025 were based on politics.Restoring "unlawfully terminated DOE clean energy awards would be a small but important first step" toward fairness in permitting, it states.Friction point: Co-authors Sens.

Sheldon Whitehouse (D-R.I.) and Martin Heinrich (D-N.M.) want to see more federal approvals of stalled renewables projects.They've called some recent administration moves a step in the right direction. But the new letter shows that other lawmakers have separate asks of the administration. Already, some House Democrats have criticized other portions of the bill and called for changes, such as its effects on tribal input into energy projects.

State of play: The status of billions of dollars in scuttled or frozen grants — under the 2021 infrastructure and 2022 Inflation Reduction Act — is a moving legal and administrative target. Many are in "limbo," per a report this month from the DOE Alumni Network and Lawyers for Good Government.It also found that most projects DOE retained have received "negligible" funding.

The October 2025 cancellations largely targeted blue states, but wider delays and uncertainty have affected places of varying political stripes.Flashback: DOE has said it reviewed grants for financial soundness, economic viability, consistency with administration goals, and other criteria. Sign up here for Axios' Future of Energy newsletter.

axios.com | 16 hrs. 26 min. ago

Anthropic IPO leads AI's $235 billion dealmaking blitz

#AI #Anthropic #BET #Chips #debt #Depositary #economy #Fund #GDP #Holding #IPO #Li #Pension #Power #R #real #shares #SpaceX #stock

Anthropic filed yesterday for what could be the biggest IPO ever, capping a massive day of AI dealmaking that nearly equals 1% of U.S. GDP.Why it matters: Few industries have ever become so central to the American economy so quickly — and we're watching Wall Street finance the buildout in real time.Driving the news: Anthropic's long-awaited IPO may seek to raise a record $100 billion.Also yesterday, SpaceX secured $40 billion in debt financing to lease GPUs — the chips that power modern AI — and Meta said it would seek up to $95 billion in financing for its AI buildout.Together, that's roughly $235 billion in a single day — more than the entire U.S. airline industry adds to the economy in a year.The big picture: AI's appetite for capital has outgrown what any one single part of the financial system can supply.Anthropic alone has committed roughly $750 billion to computing power in the coming years — about seven times what its record-setting IPO may raise.Even private investors are struggling to keep up: OpenAI's record $120 billion funding round took months to close.Zoom in: Most Americans will be financially exposed to these deals, even if they never buy a share.SpaceX and Meta are already major holdings in the top stock indices that fill pensions, 401(k)s and other retirement plans.

Anthropic will soon join them.Between the lines: Anthropic's filing spells out how big the stakes are, devoting more than a quarter of the document to risks.The company warns that AI could pose "catastrophic or existential risks to humanity" and that models may try to manipulate the people using them.Zoom out: Each of these three deals is a bet that AI use keeps compounding fast enough to justify the industry's trillions in spending.The flip side, however, is that declining use could crack the foundation of America's entire economy.The bottom line: Everyone is on the AI train, whether we want to be or not.

theguardian.com | 18 hrs. 23 min. ago

Tories dismiss PM’s budget ‘everyday fixes’ as little more than ‘cheaper gherkins’, and ‘an insult to families’ – UK politics live

#budget #customs union #European Union #Export #growth #Import #market #Options #R #REST #single market #tariff #tariffs #trade #union

Removing tariffs on more than 100 products, including gherkins and baked beans, was one of five measures announced this morning before tomorrow’s budgetIt is not just gherkins where the Treasury is cutting import tariffs. (See 9.07am.) Here is the lists from the Treasury of mostly food imports where tariffs are being cut.Garlic (8% + £100 per 100 kg)Gherkins (12%)Yes, I do.

We certainly stand taller in the world. The terrible projections of doom as to what would happen to our financial sector etc haven’t happened. Our growth rates are higher than our European competitors. Our exports, particularly of services to the European Union, have actually rocketed.

And we’ve now got more trade deals and more options around the rest of the world.Five months ago, Andy Burnham says … I’m not going to reopen these arguments.Two-and-a-half years ago, a Labour government got a massive majority in parliament saying we will not be re-entering the single market, the customs union, or opening up a debate on the free movement of people.

Continue reading...

nypost.com | 18 hrs. 46 min. ago

Toys ‘R’ Us aims to open 120 stores by Thanksgiving — but suppliers remain skittish following 2017 bankruptcy

#AIMS #bankruptcy #R

Toys "R" Us is scrambling to open 120 new stores by Thanksgiving -- but suppliers burned by its devastating bankruptcy in 2017 remain skittish about doing business with the retailer's new operators, The Post has learned.

koreatimes.co.kr | 1 days ago

How Trump's 'little detour' to Iran became a roadblock in the midterm elections

#economy #Hold #Holding #Iran #R #Trump

WASHINGTON — Noor Dubow says he regularly votes for Republican candidates who he believes align with his economic views — even though he's never been a fan of Donald Trump , finding himself repelled by some of the president's dehumanizing rhetoric toward immigrants. But this year, when Dubow cast his early ballot in the midterm election , he found himself tipping more toward Democrats because of his frustration with Trump's decision to go to war with Iran.

“Where are the Republicans in Congress?” asked Dubow, 44, a dispatcher at a trucking logistics firm in Columbus, Ohio, where he has a bird's eye view of the disruption that surging fuel prices are having on the economy. "Why aren't the Republicans holding Trump accountable?” The Iran war, which Trump often describes as a “little detour,” has emerged as an unforced liability for the president, who once promised to keep the U.S. out of foreign wars.

Republican strategists privately acknowledge that the war is severely damaging the party's push to retain control of Congress for the final two years of Trump's presidency as r

axios.com | 1 days ago

Economic policy vets see risks in AI overreliance

#AI #Bank #budget #China #CPI #Don #Fed #Federal Reserve #GDP #investment #jobs #Li #market #oil #R #real #Return #Taxes #trade #Trump

Harvard economist Jason Furman told Axios that if he were to return to his old job as chairman of the White House Council of Economic Advisers today, he would rely on AI tools over staff economists for much of the council's day-to-day analytical work.The big picture: Unsurprisingly, this made some waves in the online discourse, particularly the loose-knit community formerly known as Econ Twitter.Many veterans of the economic policy trenches see real risks in future policymakers becoming overly reliant on AI — or at a minimum think that Furman is underestimating the importance of human economists in advising the nation's leaders.What they're saying: "CEA work, at least in my experience, is highly bespoke as you're explaining the data flow (and much else) to very busy people who don't want only market-shop analysis," Jared Bernstein, the CEA chair under President Biden, wrote on Substack."Yes, they want and need that — what will the markets make of this CPI, jobs, GDP, etc. report — but more so they want to know how this report fits into our narrative, our agenda, the president's trip today to Iowa."He adds that within a White House, "the human skill of reading-the-room is paramount.

I'm far from an AI expert, but my sense is it sucks at that and probably always will, a conclusion that derives in no small part from listening to its creators!"Zoom in: Claudia Sahm, a former Federal Reserve economist, raised an issue that we've often heard from senior people in fields like consulting and investment banking: If you get rid of junior positions, where will future senior leaders come from?Furman's staff "went on to found the Yale Budget Lab, run Treasury economic policy and a Fed institute, serve in later [administrations], and publish research on trade, environment, and taxes.

That's what '20 staff' become," she wrote on X. "No model does that."Bloomberg chief U.S. economist Anna Wong argues that the "ability to now not depend on anyone, as a senior person, is very, very empowering. Now, with just the idea, a senior person can go far."Zoom out: "Entering into sci fi speculation," Wong wrote on X, "as humans [we're] not about to replace the aging experts due to low pipeline of young human experts, AI themselves, through the training over the years, became the one spawning the ideas.""That seems like a disaster waiting to happen that current social policy needs to address."Yes, but: Casey Mulligan, who served in President Trump's first-term CEA and now as chief economist at the Department of Health and Human Services, said that the implications of AI for human labor in policymaking are not so obvious."I built AI tools at two federal offices," Mulligan wrote on X. "Able to do economic research better and more quickly, we needed more economists rather than fewer due to the added demand for what we do.

This pattern is also evident in the small business sector."This concept — that labor-saving tools can actually increase demand for labor — is known as Jevons Paradox.The bottom line: "Be the labor-augmenting technological change you want to see in the world," wrote Stanford economist Neale Mahoney."It's on us olders to build organizations where people and AI complement each other, and to prepare the youngers for a world with better and better AI," he adds.

axios.com | 1 days ago

Trump allies fall in two elections as Netanyahu faces next test

#Analyst #Brazil #Chile #Colombia #economy #Europe #France #Germany #Honduras #Hungary #Iran #Israel #Killed #Li #loss #Marine Le Pen #Power #R #Serbia #SET #tariff #tariffs #Trump

A pair of Trump-friendly right-wing populists took a one-two punch Sunday: Brazil rejected a Bolsonaro comeback, and Serbia toppled a strongman's ruling party.The big picture: Brazil denied Trump a close ally at the helm of Latin America's largest economy, snapping a streak of seven straight conservative wins in the region.

In Europe, Serbia and Hungary toppled leaders with close Trump ties who had dominated their countries for years.Now, another massively pivotal election looms Tuesday, when Trump ally, Israeli Prime Minister Benjamin Netanyahu, will face a battle for political survival.On the eve of the election, Netanyahi touted Trump's endorsement and his "friendship" with the American president.

But as the global right has made gains, opposition forces proved this weekend that they still have fuel.Driving the news: In Brazil, leftist President Luiz Inácio Lula da Silva staved off a challenge from Flávio Bolsonaro, the son of former President Jair Bolsonaro.The younger Bolsonaro, widely seen as the heir to his father's populist movement, refused to concede and called for the results to be annulled, according to translations.The elder Bolsonaro is serving a 27-year sentence after being convicted of plotting a coup to overturn his 2022 loss.

Trump has called the prosecution a "WITCH HUNT."The White House did not immediately respond to Axios' request for comment on the race.Between the lines: Brazil's election emerged as a test of Trump's political influence in Latin America, where right-wing and Trump-backed candidates have celebrated an uninterrupted series of wins.Those victories include Trump-endorsed Abelardo de la Espriella in Colombia, Nasry "Tito" Asfura in Honduras and José Antonio Kast in Chile.Trump did not formally endorse Flávio Bolsonaro, but he met with him earlier this year and imposed ignificant tariffs on Brazil as he protested the charges against Bolsonaro's father.

Lula is a vocal Trump critic.In March, Flávio Bolsonaro told an audience at the Conservative Political Action Conference that America faced a "fork in the road" in the election: "Either you have the most powerful ally in the hemisphere, or an antagonist."Zoom out: Meanwhile, across the Atlantic, a student-led opposition movement toppled the right-wing party of long-serving strongman Aleksandar Vučić, who was seeking to become prime minister.Unlike the Bolsonaros, Vučić conceded defeat Sunday.The Balkan leader had courted Trump's inner circle, including Donald Trump Jr., and described the president as a "kindred spirit."It reflects the shifting tides that also allowed next-door Hungary to oust Trump-allied Viktor Orbán, once one of the Western world's most entrenched populist leaders, in April after 16 years in power.

Yes, but: Europe's political upheaval is cutting both ways: While the populist right has fallen in Serbia and Hungary, it's gaining ground in two of the continent's largest economies.In France, far-right presidential frontrunner Marine Le Pen launched her 2027 campaign this weekend, seizing on nationwide unrest to pitch her tough-on-crime, anti-migrant agenda.

In Germany, the far-right Alternative for Germany won a record 44% in a state election last month and continues to lead in national polls.What we're watching: Trump's historic move of endorsing Netanyahu in Tuesday's Israeli elections will once again test his influence abroad.Tuesday's election in Israel is set to be tight for Netanyahu, who has sought to elevate Trump's endorsement as he jockeys with former Israel Defense Forces Chief of Staff Gadi Eisenkot.The 77-year-old Netanyahu has been prime minister for some 19 years in nonconsecutive terms.

Analysts see the election as a referendum on the security failure of Oct. 7, 2023, that killed around 1,200 people.Whoever governs Israel could shape Trump's next moves in the Middle East — including whether to escalate the war in Iran.Go deeper: Lula v. Bolsonaro: Brazil election unfolds in Trump's shadow

al-monitor.com | 1 days ago

Egypt approves military support for Saudi Arabia after Houthi attacks escalate

#Egypt #Export #Iran #oil #R #Saudi Arabia #sea #Support #Yemen

CAIRO, Oct 26 (Reuters) - Parliament authorised Egyptian President Abdel Fattah al-Sisi on Monday to take "all necessary measures" to help Saudi Arabia to defend itself - a move that could push Cairo more directly into the conflict between the kingdom and Yemen's Iran-allied Houthis.Sisi had asked parliament to approve military support to Egypt's Gulf Arab ally and the world's biggest oil exporter if Riyadh requested help against the Houthis, whose advances also threaten the strategic Bab el-Mandeb Strait — southern gateway to the Red Sea and Egypt's Suez Canal.

theguardian.com | 1 days ago

Donald Trump has been a disaster for rural America

#Diesel #Export #R #trade #trade war #Trump

Steven Greenhouse | The president’s policies have taken such a toll on farmers that Republicans face trouble in deep-red statesDonald Trump’s policies have been a disaster for the nation’s farmers, so much so that a near electoral miracle may soon happen: Kansas, one of the deepest red, most rural states, may elect its first Democratic senator in nearly a century.After Trump won farm country handily in 2024, many rural voters in Kansas, Iowa and elsewhere have soured on him because the price of diesel fuel, a key input for farming, has soared by nearly 70%, farm bankruptcies have surged and because Trump’s trade wars have significantly reduced agricultural exports.Steven Greenhouse is a journalist and author, focusing on labor and the workplace, as well as economic and legal issues Continue reading...

axios.com | 1 days ago

Exclusive: Democrats lay groundwork to probe Trump's diesel deal

#Bank #banks #Diesel #Distribution #energy #Export #Gas #Import #Li #market #media #oil #petroleum products #Plus #R #Russia #sanctions #Shipping #Trump #Ukraine

Top Democrats poised for powerful roles next year are demanding that major banks and ports preserve any records they have tied to potential imports or other deals involving Russian diesel.Why it matters: Probing President Trump's agreement with Moscow will be a priority if Democrats regain control of either or both chambers of Congress.The new demand shows that inquiries will extend beyond the White House and into C-suites.

Driving the news: "[A]ny importation of Russian diesel into the U.S. raises significant legal questions and may be subject to legal action, as well as congressional investigations," a new letter obtained by Axios states.It's signed by Sens. Chris Coons (D-Del.), Elizabeth Warren (D-Mass.), Ron Wyden (D-Ore.), and Sheldon Whitehouse (D-R.I.).They're in line to lead the powerful Foreign Relations, Banking, Finance and Judiciary Committees, respectively, if Democrats regain the Senate.

Rep. Greg Meeks (D-N.Y.), who's in line for the Foreign Affairs Committee gavel if House control changes, also signed. It's led by Sen. Jeanne Shaheen (D-N.H.), the top Foreign Relations Democrat who is not seeking reelection. Sen. Thom Tillis (R-N.C.), who is also retiring, signed as well.State of play: The Wall Street recipients of Saturday's letter are J.P.

Morgan, Bank of America, Citi, Wells Fargo, Goldman Sachs and Morgan Stanley.The same letter went to port authorities for the ports of Houston, Beaumont, and Corpus Christi, Texas, and New York/New Jersey.Catch up quick: Earlier this month Trump claimed an agreement to bring escalating Russian exports to global and U.S. markets, and the Treasury Department waived sanctions to help enable it.Friction point: The lawmakers and other critics say it runs afoul of a bipartisan 2022 law barring imports of Russian oil, gas, and petroleum products."The potential arrangement to import Russian diesel also raises significant national security concerns, given that it would finance Russia's brutal and illegal war against Ukraine," the letter states.

Yes, but: The Treasury Department has repeatedly claimed the agreement is legal.The big picture: The new letter urges the banks and ports not to enable "purchase, transportation, importation, unloading, storage, financing, or distribution" of Russian diesel in the U.S.It also goes further, urging the parties not to facilitate any transactions for Russian diesel to other markets under the recent sanctions waiver.

Zoom in: Citing "anticipation of further congressional oversight," it calls on recipients to preserve a wide range of potential records and communications related to "proposed or actual" transactions.Think contracts, shipping documents, vessel records and plenty more. The demand extends to any communications with suppliers, intermediaries and U.S. government officials.

The lawmakers want confirmation by Wednesday that records are being preserved, plus details of any potential or actual Russian diesel transition.What we're watching: It's unclear how much Russian diesel, if any, will reach U.S. shores.Reports Friday in S&P Global, Reuters and elsewhere identify a tanker that initially signaled a New York destination, while the shipping intelligence firm TankerTrackers on Friday said three tankers had signaled U.S. destinations.But ships' planned destinations frequently change for one reason or another.Sign up here for Axios' Future of Energy newsletter.

businessinsider.com | 1 days ago

Toys are facing their biggest price spike in years. Mom-and-pop toy stores tell us how they're getting by.

#Inflation #R #Shipping #tariff #tariffs

Toy prices are surging amid inflation, tariffs, and shipping costs, affecting small local stores. Toy giants also face financial pressure.

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