Warsh's gamble: A quieter Federal Reserve could mean volatile markets, higher rates
WASHINGTON (AP) — The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. New chair Kevin Warsh has begun to reverse some of those steps because he believes that by signaling its intentions the Fed pigeonholes itself into a position on interest rates. Yet such an approach carries the risk of more violent swings in stock and bond prices, analysts say, and ultimately higher interest rates for consumers and businesses.
What to know about the legacy of Brexit, which still divides Britain 10 years on
LONDON (AP) — U.K. voters chose to leave the European Union in a referendum that 10 years on still forges political identities. It was a vote that shattered a half-century project to get closer to the continent. Brexit, short for British exit, became a reality on June 23, 2016, when 52% — or more than 17 million people — voted to leave the bloc. Though the margin may have been narrow, the vote led to the most dramatic shake-up of the U.K. economy and society since World War II. But like any divorce, the paperwork and process of completing the breakup was not swift: It took nearly five years.
'Toy Story 5' rakes in the biggest box-office debut of the year with a franchise-best $160 million
NEW YORK (AP) — “Toy Story” still has a friend in moviegoers. The fifth installment in the Pixar series debuted with $160 million in domestic ticket sales, according to studio estimates Sunday. That easily set a new franchise record and notches the biggest opening weekend of the year. Launching 31 years after the original “Toy Story” first landed in theaters, “Toy Story 5” far surpassed the previous series-best debut of $120 million for “Toy Story 4” in 2019. Internationally, it was just as successful, with $152 million in opening-weekend sales, for a worldwide haul of $312 million. Steven Spielberg’s “Disclosure Day” slipped to second place with $17 million in its second weekend.
US and Iran to talk Sunday in Switzerland as Tehran says it closed Strait of Hormuz again
TYRE, Lebanon (AP) — U.S. and Iranian negotiators are on their way to a venue in Switzerland to discuss details of their interim agreement to halt the war. This comes after Iran said it closed the Strait of Hormuz due to Israel’s attacks in Lebanon. U.S. President Donald Trump in response threatened to impose tolls in the waterway if a final deal isn't reached in 60 days. Talks mediated by Pakistan and Qatar are set to begin Sunday. The deal involves unfreezing billions of dollars of Iran’s assets, and Iran's negotiating team includes central bank and oil officials, among others.
How a COVID lockdown helped make an award-winning winemaker in South Africa
CAPE TOWN, South Africa (AP) — A woman in South Africa found opportunity in a COVID-19 lockdown in 2020 when she used the suspension of her studies at an agricultural college to plant her own vineyard at her family home. It was a way for Natasha Jacka to fast forward her dream of becoming a winemaker in South Africa. It was four years before the first harvest and vintage. But Jacka’s debut wines from grapevines she planted, cared for and harvested in the yard of her parents’ sea-facing home in Cape Town were greeted with high praise by critics. She's now an award-winning winemaker.
A top banker tried to sway Pope Leo XIV on rare earth mining
ROME (AP) — The head of Latin America’s top development bank has made a case to Pope Leo XIV about the potential of rare earth mining. Ilan Goldfajn, head of the Inter-American Development Bank, argues it could benefit Latin America if done responsibly. Goldfajn met with the pope on Friday, acknowledging the Vatican’s opposition to multinational mining corporations. The Vatican has long supported Indigenous peoples affected by mining. Goldfajn believes the region can benefit from mining if proper standards and conditions are met. The Inter-American Development Bank has a $4 billion pipeline of mineral projects, mostly in Chile, Argentina, and Brazil.
Thousands of Czechs rally against a government plan to overhaul the funding of public broadcasters
PRAGUE (AP) — Thousands of Czechs are rallying in Prague to protest a government plan to overhaul the funding for public broadcasters. The plan was approved last week. It proposes financing public radio and television from the state budget instead of fees from individuals and businesses. Critics warn this could threaten media independence and they cite examples from Slovakia and Hungary. Protesters gathered in front of the Czech public television building on Sunday with staff planning a warning strike on Monday. The government plan would reduce media funding by about 15% without future guarantees. Organizers emphasize that media shouldn't belong to politicians.
Bolivia’s president declares a state of emergency as road blockades choke supplies
LA PAZ, Bolivia (AP) — Bolivian President Rodrigo Paz has declared a state of emergency to empower the military to remove road blockades. The move on Saturday aims to restore freedom and supply lines in cities like La Paz which have faced fuel and food shortages. The blockades have led to violent clashes, arrests and injuries over the past five weeks. Some protesters demand Paz's resignation despite an agreement with one labor union. The emergency measure will last up to 90 days and seeks to ensure fuel supplies without limiting constitutional rights. Paz is facing pressure from various political factions. He has received support from the U.S. government.
In Taylor Swift’s beach town, every clue becomes a wedding rumor
WESTERLY, R.I. (AP) — Rumors that Taylor Swift was planning to marry at her Rhode Island home this weekend have drawn fans, photographers and curious visitors to the seaside village of Watch Hill after a large tent appeared near her estate. The speculation was never confirmed, but it highlighted the enduring fascination with the pop star in the community where she has owned a home for more than a decade. Residents, business owners and local officials say they fielded a steady stream of questions as online theories spread. And visitors searched for clues and debated whether the rumors could be true.
Starmer is on the precipice as pressure builds for the UK leader to resign
LONDON (AP) — U.K. Prime Minister Keir Starmer is facing a crucial decision. Either step down or fight a possible leadership challenge from Labour Party rival Andy Burnham. Starmer has vowed to stay. But pressure is mounting as colleagues believe his time is up. Expectations are growing that he will announce a timetable for his resignation as soon as Monday. Burnham was recently elected as a lawmaker. That puts him in a position to challenge Starmer. Discontent has been building because of Starmer's struggles with economic growth and public services. Business Secretary Peter Kyle said Sunday that Starmer is reflecting on his political situation.
