Turkey said on Monday it was worried by reports that Ukrainian ships had been fired on off the coast of Russia-annexed Crimea and said that shipping in the area should not be obstructed. Russia seized three Ukrainian naval ships in the Black Sea on Sunday after opening fire on them ... Read More »
No-deal Brexit would cost Britain ‘tens of billions,’ finance minister warns
“We will have a politically chaotic situation” without a deal, finance minister Philip Hammond said. Brexit could leave the U.K. worse off than if voters had chosen to remain in the European Union, the country’s finance minister admitted Wednesday amid deepening political chaos over the process. Splitting from the trading ... Read More »
Nissan fires chairman Carlos Ghosn following arrest
He’s been accused by prosecutors of under-reporting $44.6 million of personal income. Nissan Motor Co. fired Carlos Ghosn as chairman Thursday in a dramatic end to the powerful executive’s nearly two decade long reign at the Japanese automaker after his arrest for alleged financial improprieties. In an hours-long meeting, the ... Read More »
Oil bounces by $1 per barrel after 6-percent plunge, but outlook still weak
Oil bounced by around $1 a barrel on Wednesday to claw back some of the previous day’s 6 percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories and record Indian crude imports. But investors remained on edge, with the International Energy Agency (IEA) warning ... Read More »
Australia rejects U.N. migration pact, sticks with hardline asylum-seeker policy
Australia will not sign up to a United Nations migration agreement because it would compromise its hardline immigration policy and endanger national security, Prime Minister Scott Morrison said on Wednesday. Australia joins the United States, Israel and several Eastern European countries in rejecting the U.N. Global Compact for Migration, which ... Read More »
Trade tensions simmer as China blames US for unprecedented breakdown of talks at Asia-Pacific summit
Relations sour despite Donald Trump and Xi Jinping expressing optimism about resolving trade war The unprecedented failure to agree on a communique at a major Asia-Pacific summit resulted from certain countries “excusing” protectionism, a major Chinese diplomat has said, in an apparently veiled criticism of the United States. After months ... Read More »
In rare coordinated move, Western envoys seek meeting on Xinjiang concerns
A group of 15 Western ambassadors in Beijing, spearheaded by Canada, are seeking a meeting with the top official in China’s restive, heavily Muslim Xinjiang region for an explanation of alleged rights abuses against ethnic Uighurs. The envoys are making their request in a letter to Chen Quanguo, Xinjiang’s Communist ... Read More »
Angela Merkel calls for creation of ‘real, true’ EU army
German chancellor’s call echoes Emmanuel Macron’s similar one last week Angela Merkel has called for the creation of a “real, true” European army, echoing a similar call by her French counterpart. The German chancellor’s backing for the force comes amid a spat with US president Donald Trump, who took offence ... Read More »
Britain agrees Brexit divorce deal with EU, May’s opponents vow to thwart it
Britain struck a draft divorce deal with the European Union after more than a year of talks, thrusting Prime Minister Theresa May into a perilous battle over Brexit that could shape her country’s prosperity for generations to come. While Brussels choreographs the first withdrawal of a sovereign state from the ... Read More »
Iran says armed forces will protect oil tankers after US called them ‘floating liabilities’
Remarks come after Trump administration revived all sanctions on country’s oil, shipping and banking industries Iran’s armed forces have pledged to protect Iranian oil tankers against possible threats after the US said the ships were a “floating liability” and should not be allowed to dock anywhere. Rear-Admiral Mahmoud Mousavi, a ... Read More »