The United States will seek rollback of Indian tariffs imposed on some agricultural products such as almonds when the two sides meet on Friday, a senior Indian government source told Reuters.

A delegation led by Assistant US Trade Representative for South and Central Asia, Christopher Wilson, will meet Indian officials to try to <a href="https://www.wionews.com/india-news/india-us-begin-trade-talks-new-delhi-says-keep-bigger-picture-in-mind-235057">re-start negotiations on the tariffs</a>, which were a response to the US removing some trade privileges from Indian products.

US President Donald Trump has been putting pressure on India to do more to open its markets, saying this week on Twitter that its high tariffs were "unacceptable".

The United States would seek a rollback of some of those tariffs, and India would in return seek better access to the US market for Indian farm products, said the Indian official who is aware of the agenda for discussions. He declined to be named.

India was unlikely to immediately commit to any changes to foreign investment rules for foreign e-commerce firms such as Walmart's Flipkart and Amazon, the official said. The rules have forced the two American companies to rework their business strategies for India.

Walmart told the US government privately in January that <a href="https://www.wionews.com/business-economy/walmart-told-us-government-indias-e-commerce-rules-regressive-warned-of-trade-impact-235131">India's new investment rules for e-commerce were regressiv</a>e and had the potential to hurt trade ties, Reuters reported on Thursday.

The United States will seek rollback of Indian tariffs imposed on some agricultural products such as almonds when the two sides meet on Friday, a senior Indian government source told Reuters.

The United States will seek rollback of Indian tariffs imposed on some agricultural products such as almonds when the two sides meet on Friday, a senior Indian government source told Reuters. A delegation led by Assistant US Trade Representative for South and Central Asia, Christopher Wilson, will meet Indian officials to try to re-start negotiations on the tariffs, which were a response to the US removing some trade privileges from Indian products. US President Donald Trump has been putting pressure on India to do more to open its markets, saying this week on Twitter that its high tariffs were "unacceptable". The United States would seek a rollback of some of those tariffs, and India would in return seek better access to the US market for Indian farm products, said the Indian official who is aware of the agenda for discussions. He declined to be named. India was unlikely to immediately commit to any changes to foreign investment rules for foreign e-commerce firms such as Walmart's Flipkart and Amazon, the official said. The rules have forced the two American companies to rework their business strategies for India. Walmart told the US government privately in January that India's new investment rules for e-commerce were regressive and had the potential to hurt trade ties, Reuters reported on Thursday.

US to seek rollback of Indian tariffs during trade talk: Report

Is Sri Lanka's Sovereignty Under Threat? Sri Lankan government plans to extend rights and privileges to U.S. defence personnel. This is U.S. attempt to build its influence in Sri Lanka. Will this agreement compromise the sovereignty of Sri Lanka? Palki summarises.

Gravitas: Sri Lanka-US military pact sparks row

This segment of WION brings to you top stories of the morning from across the globe. Watch this video to get updated with the latest information.

WION Speed News: Watch top national and international news of the morning - July 12th, 2019

<a href="https://www.wionews.com/world/if-facebooks-libra-wants-to-become-a-bank-it-must-must-seek-new-banking-charter-trump-235162">If Facebook's Libra wants to become a bank, it must seek new banking charter: Trump</a>

US President Donald Trump on Thursday criticised Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to US and global regulations if they wanted to "become a bank."

<a href="https://www.wionews.com/world/us-house-of-representatives-speaker-nancy-pelosi-praises-pm-modis-oratory-skills-says-he-had-audience-in-the-palm-of-his-hands-235157">US House of Representatives Speaker Nancy Pelosi praises PM Modi's oratory skills, says he had 'audience in the palm of his hands'</a>

US House of Representatives Speaker Nancy Pelosi on Thursday was all praises for Prime Minister Narendra Modi's oratory skills, saying the Indian leader is "spectacular" and had the people in the "palm of his hands".

<a href="https://www.wionews.com/sports/its-england-vs-new-zealand-in-final-on-july-14-the-world-will-see-a-new-cricket-champion-235146">It's England vs New Zealand in final: On July 14, the world will see a new cricket champion</a>

The world will see a new cricket champion as it's New Zealand vs England in the Cricket World Cup 2019 final. Both the teams have entered the final in pursuit of a maiden title.&nbsp;

<a href="https://www.wionews.com/business-economy/dow-ends-above-27000-points-for-first-time-sp-500-hits-record-on-federal-reserve-rate-cut-optimism-235154">Dow ends above 27,000 points for first time, S&amp;P 500 hits record on Federal Reserve rate cut optimism</a>

Wall Street stocks set new records Thursday for a second straight session, with the Dow finishing above 27,000 points -- a first -- over an expected Federal Reserve interest rate cut later this month.

<a href="https://www.wionews.com/world/air-canada-makes-emergency-landing-in-honolulu-due-to-turbulence-235165">Air Canada hits turbulence; several injured as plane makes emergency landing</a>

Shocked passengers described being tossed around an Air Canada passenger jet as it hit a pocket of turbulence on its way to Australia on Thursday and was forced to make an emergency landing.

&nbsp;

If Facebook's Libra wants to become a bank, it must seek new banking charter: Trump US President Donald Trump on Thursday criticised Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to US and global regulations if they wanted to "become a bank.

If Facebook's Libra wants to become a bank, it must seek new banking charter: Trump US President Donald Trump on Thursday criticised Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to US and global regulations if they wanted to "become a bank." US House of Representatives Speaker Nancy Pelosi praises PM Modi's oratory skills, says he had 'audience in the palm of his hands' US House of Representatives Speaker Nancy Pelosi on Thursday was all praises for Prime Minister Narendra Modi's oratory skills, saying the Indian leader is "spectacular" and had the people in the "palm of his hands". It's England vs New Zealand in final: On July 14, the world will see a new cricket champion The world will see a new cricket champion as it's New Zealand vs England in the Cricket World Cup 2019 final. Both the teams have entered the final in pursuit of a maiden title. Dow ends above 27,000 points for first time, S&P 500 hits record on Federal Reserve rate cut optimism Wall Street stocks set new records Thursday for a second straight session, with the Dow finishing above 27,000 points -- a first -- over an expected Federal Reserve interest rate cut later this month. Air Canada hits turbulence; several injured as plane makes emergency landing Shocked passengers described being tossed around an Air Canada passenger jet as it hit a pocket of turbulence on its way to Australia on Thursday and was forced to make an emergency landing.

News brief: Big stories of the day

US President Donald Trump said 'Kidney has a very special place in the heart' while announcing a government plan to fight kidney diseases in the US.

Donald Trump: 'Kidney has a very special place in the heart'

Brazilian President Jair Bolsonaro said on Thursday he had invited his son Eduardo to become ambassador to the United States, underscoring his family's influential role in the country's diplomacy and domestic politics.

Bolsonaro said the appointment hinges on acceptance by Eduardo, currently a federal congressman.

"The decision is his," Bolsonaro told journalists as he left an event in Brasilia. "I don't want to decide his future for him, if the legislation says he has to renounce his position."

The far-right Brazilian president, who said his campaign last year was inspired by US President Donald Trump, has made friendly overtures to the American leader and made similar use of family members as official advisers.

Bolsonaro's eldest son, Flavio, is advancing his conservative social agenda as a senator.

Carlos Bolsonaro, another son of the president and a Rio de Janeiro city councilman, has taken an active role in his father's social media communications and stirred controversy by attacking members of the Brazilian cabinet.

Eduardo, the third of the president's four sons and a daughter from three marriages, has counselled his father on foreign affairs. After Jair Bolsonaro was elected in October, Eduardo was one of his first envoys to Washington, where he met with Trump's son-in-law and adviser Jared Kushner and was spotted wearing a "Trump 2020" cap.

Former Trump advisor Steve Bannon named Eduardo the Latin American leader of his right-wing nationalist organization "The Movement."

During Bolsonaro's White House visit in March, Trump heaped praise on Eduardo, who sat by his father during an Oval Office chat while Brazil's foreign minister and ambassador in Washington were nowhere to be seen.

Brazilian President Jair Bolsonaro said on Thursday he had invited his son Eduardo to become ambassador to the United States, underscoring his family's influential role in the country's diplomacy and domestic politics.

Brazilian President Jair Bolsonaro said on Thursday he had invited his son Eduardo to become ambassador to the United States, underscoring his family's influential role in the country's diplomacy and domestic politics. Bolsonaro said the appointment hinges on acceptance by Eduardo, currently a federal congressman. "The decision is his," Bolsonaro told journalists as he left an event in Brasilia. "I don't want to decide his future for him, if the legislation says he has to renounce his position." The far-right Brazilian president, who said his campaign last year was inspired by US President Donald Trump, has made friendly overtures to the American leader and made similar use of family members as official advisers. Bolsonaro's eldest son, Flavio, is advancing his conservative social agenda as a senator. Carlos Bolsonaro, another son of the president and a Rio de Janeiro city councilman, has taken an active role in his father's social media communications and stirred controversy by attacking members of the Brazilian cabinet. Eduardo, the third of the president's four sons and a daughter from three marriages, has counselled his father on foreign affairs. After Jair Bolsonaro was elected in October, Eduardo was one of his first envoys to Washington, where he met with Trump's son-in-law and adviser Jared Kushner and was spotted wearing a "Trump 2020" cap. Former Trump advisor Steve Bannon named Eduardo the Latin American leader of his right-wing nationalist organization "The Movement." During Bolsonaro's White House visit in March, Trump heaped praise on Eduardo, who sat by his father during an Oval Office chat while Brazil's foreign minister and ambassador in Washington were nowhere to be seen.

Brazil's Bolsonaro offers his son US ambassador post

US President Donald Trump on Thursday accused China of backsliding on promises to increase purchases of American farm exports.

The president's latest salvo on Twitter comes the same week that <a href="https://www.wionews.com/world/after-trump-xi-g20-meeting-us-china-resume-talks-to-resolve-trade-war-234508">US and Chinese trade officials</a> had their first contact in months in an effort to revive negotiations that nearly collapsed in May.

Trump and his Chinese counterpart Xi Jinping met last month on the sidelines of the Group of 20 summit&nbsp;in Japan, agreeing to cease further hostilities while the talks resumed.

"Mexico is doing great at the Border, but <a href="https://www.wionews.com/world/chinas-2019-growth-seen-slowing-to-62-per-cent-as-trade-war-weighs-reuters-poll-234697">China</a> is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would," Trump said Thursday on Twitter.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Mexico is doing great at the Border, but China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would. Hopefully they will start soon!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1149318492711264257?ref_src=twsrc%5Etfw">July 11, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"Hopefully they will start soon!"

Following the Osaka summit, Trump announced that, in return for Washington's pledge to suspend a planned tariff increase on $300 billion in Chinese imports, Beijing had offered to buy "a tremendous amount of food and agriculture product" from the United States.

Hopes for a trade deal with China have lifted spirits on Wall Street but lingering trade conflicts have weighed on US business sentiment and are one of the main dangers on the horizon for the United States, economists say.

Reducing America's soaring trade deficit with China has long been a principal aim in Trump's trade battle with Beijing, which he also accuses of stealing American technology and unfairly intervening in markets.

Since last year, the two countries have traded tariffs on more than $360 billion in two-way trade.

The US global trade deficit has expanded this year but has fallen with China while rising with Mexico, pointing to the realignment of commercial relationships.

Trump has offered billions in aid to buy out US farms badly damaged in the US-China trade war. US soy exports collapsed last year, virtually wiping out foreign markets farmers had spent years cultivating.

Bill Nelson, an analyst at Doane Advisory Services, told AFP the major Chinese purchases that markets had been expecting had so far failed to materialize.

Chinese soybean purchases zoomed higher in the first quarter of the year to 9.5 million tons, according to official numbers, making up for the sales drought at the end of 2018.

But they have since fallen off sharply, with few major sales recorded since the end of last month.

"China is not making major purchases, certainly not since the Xi meeting," Nelson said.&nbsp;

"Trump implied China would be immediately out there and sales would be going to happen right away. This is not what has occurred."

US President Donald Trump on Thursday accused China of backsliding on promises to increase purchases of American farm exports. The president's latest salvo on Twitter comes the same week that US and Chinese trade officials had their first contact in months in an effort to revive negotiations that nearly collapsed in May.

US President Donald Trump on Thursday accused China of backsliding on promises to increase purchases of American farm exports. The president's latest salvo on Twitter comes the same week that US and Chinese trade officials had their first contact in months in an effort to revive negotiations that nearly collapsed in May. Trump and his Chinese counterpart Xi Jinping met last month on the sidelines of the Group of 20 summit in Japan, agreeing to cease further hostilities while the talks resumed. "Mexico is doing great at the Border, but China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would," Trump said Thursday on Twitter. Mexico is doing great at the Border, but China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would. Hopefully they will start soon! — Donald J. Trump (@realDonaldTrump) July 11, 2019 × "Hopefully they will start soon!" Following the Osaka summit, Trump announced that, in return for Washington's pledge to suspend a planned tariff increase on $300 billion in Chinese imports, Beijing had offered to buy "a tremendous amount of food and agriculture product" from the United States. Hopes for a trade deal with China have lifted spirits on Wall Street but lingering trade conflicts have weighed on US business sentiment and are one of the main dangers on the horizon for the United States, economists say. Reducing America's soaring trade deficit with China has long been a principal aim in Trump's trade battle with Beijing, which he also accuses of stealing American technology and unfairly intervening in markets. Since last year, the two countries have traded tariffs on more than $360 billion in two-way trade. The US global trade deficit has expanded this year but has fallen with China while rising with Mexico, pointing to the realignment of commercial relationships. Trump has offered billions in aid to buy out US farms badly damaged in the US-China trade war. US soy exports collapsed last year, virtually wiping out foreign markets farmers had spent years cultivating. Bill Nelson, an analyst at Doane Advisory Services, told AFP the major Chinese purchases that markets had been expecting had so far failed to materialize. Chinese soybean purchases zoomed higher in the first quarter of the year to 9.5 million tons, according to official numbers, making up for the sales drought at the end of 2018. But they have since fallen off sharply, with few major sales recorded since the end of last month. "China is not making major purchases, certainly not since the Xi meeting," Nelson said. "Trump implied China would be immediately out there and sales would be going to happen right away. This is not what has occurred."

China fails to buy agricultural goods as promised: Donald Trump

NATO said Friday it was "concerned" by Turkey's acquisition of Russia's <a href="https://www.wionews.com/world/first-part-of-russian-s-400-missile-defence-system-delivered-turkey-235249">S-400 missile defence system</a> after Ankara took delivery of its first batch.

The alliance has repeatedly warned Turkey that the Russian system is incompatible with other NATO weapons systems, not least the F-35 fighter jet.

"We are concerned about the potential consequences of <a href="https://www.wionews.com/world/its-a-problem-trump-tells-erdogan-on-russia-s-400-missile-deal-231388">Turkey's decision</a> to acquire the S-400 system," a NATO official told AFP.

"Interoperability of our armed forces is fundamental to NATO for the conduct of our operations and missions."

The US fears that if NATO member Turkey integrates the S-400 into its defences, there is a risk that sensitive data about the F-35, a new generation multi-role stealth fighter, could leak back to the Russians.

Watch:&nbsp;Parts of S-400 missile system unloaded at Turkish air base

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/parts-of-s-400-missile-system-unloaded-at-turkish-air-base-235354/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

President Donald Trump's pick for Pentagon chief, Mark Esper, confronted the Turkish defence minister about the deal on the sidelines of a NATO meeting last month.

Washington has threatened to expel Turkey from its F-35 programme, giving Ankara until July 31 to cancel the S-400 purchase or have its pilots kicked off the training course and expelled from the US.

But Turkish President Recep Tayyip Erdogan has refused to back down and said he is confident Turkey will not face US sanctions.

NATO said Friday it was "concerned" by Turkey's acquisition of Russia's S-400 missile defence system after Ankara took delivery of its first batch. The alliance has repeatedly warned Turkey that the Russian system is incompatible with other NATO weapons systems, not least the F-35 fighter jet.

NATO said Friday it was "concerned" by Turkey's acquisition of Russia's S-400 missile defence system after Ankara took delivery of its first batch. The alliance has repeatedly warned Turkey that the Russian system is incompatible with other NATO weapons systems, not least the F-35 fighter jet. "We are concerned about the potential consequences of Turkey's decision to acquire the S-400 system," a NATO official told AFP. "Interoperability of our armed forces is fundamental to NATO for the conduct of our operations and missions." The US fears that if NATO member Turkey integrates the S-400 into its defences, there is a risk that sensitive data about the F-35, a new generation multi-role stealth fighter, could leak back to the Russians. Watch: Parts of S-400 missile system unloaded at Turkish air base President Donald Trump's pick for Pentagon chief, Mark Esper, confronted the Turkish defence minister about the deal on the sidelines of a NATO meeting last month. Washington has threatened to expel Turkey from its F-35 programme, giving Ankara until July 31 to cancel the S-400 purchase or have its pilots kicked off the training course and expelled from the US. But Turkish President Recep Tayyip Erdogan has refused to back down and said he is confident Turkey will not face US sanctions.

NATO 'concerned' by Turkey's acquisition of Russia's S-400 missile defence system 

Wall Street stocks set new records Thursday for a second straight session, with the Dow finishing above 27,000 points -- a first -- over an expected Federal Reserve interest rate cut later this month.

The latest new landmark, which was accompanied by a fresh record for the <a href="https://www.wionews.com/world/sp-500-hits-3000-for-the-first-time-as-fed-signals-possible-rate-cut-234770">S&amp;P 500</a>, came as Fed Chair Jerome Powell completed the second day of congressional testimony at which he emphasised economic risks in remarks that were widely interpreted as signalling a likely interest rate cut.&nbsp;

The new high drew a cheer from US President Donald Trump, who has repeatedly <a href="https://www.wionews.com/world/trump-bashes-stubborn-child-federal-reserve-as-economy-shows-signs-of-weakness-230162">criticised Powell on monetary policy</a>. Trump extolled the latest new peak on Twitter, saying "Dow just hit 27,000 for the first time EVER!" &nbsp;

The <a href="https://www.wionews.com/business-economy/nasdaq-ends-at-record-high-dollar-falls-as-us-fed-signals-possible-rate-cut-234814">Nasdaq, which had closed at a record</a> following Powell's testimony on Wednesday, pulled back slightly.&nbsp;

It was joined lower by European bourses, which were pressured by stronger currencies after Powell's remarks weighed on the dollar.&nbsp;

"It's safe to say that investors were pleased with Jerome Powell's first day of testimony on Wednesday, with equity markets jumping on his dovish assessment," said Oanda analyst Craig Erlam.

"The Fed Chairman doesn't typically provide strong and direct messages on policy direction, which makes predicting future rate movements all the more difficult. But Wednesday's message was clear, the data is softening -- particularly on the inflation side -- and downside risks are significant," Erlam said.

Fresh trade discord

But Thursday's records came amid fresh signs of trade policy discord that have troubled investors over the last year.

Trump, also on Twitter, accused China Beijing of backsliding on a recent pledge to buy more US farm exports. "Hopefully they will start soon!"&nbsp;

Trump's latest tweet on China "means we are not closer to a deal with China," said Art Hogan, chief market strategist at National Securities.

There were also fresh signs of tension between the US and Europe.

On Wednesday, officials said US President Donald Trump had ordered an investigation into France's planned tax on internet services. The French parliament passed the tax anyway on Thursday, making Google, Apple, Facebook and Amazon principal targets of the higher taxes.

Among individual companies, Delta Air Lines climbed 1.2 percent as it reported a nearly 40 per cent surge in second-quarter profits to $1.4 billion on strong flying demand.

The company also benefited from its lack of exposure to the Boeing 737 MAX, which has been grounded following two crashes. Delta does not own any of planes.

Wall Street stocks set new records Thursday for a second straight session, with the Dow finishing above 27,000 points -- a first -- over an expected Federal Reserve interest rate cut later this month.

Wall Street stocks set new records Thursday for a second straight session, with the Dow finishing above 27,000 points -- a first -- over an expected Federal Reserve interest rate cut later this month. The latest new landmark, which was accompanied by a fresh record for the S&P 500, came as Fed Chair Jerome Powell completed the second day of congressional testimony at which he emphasised economic risks in remarks that were widely interpreted as signalling a likely interest rate cut. The new high drew a cheer from US President Donald Trump, who has repeatedly criticised Powell on monetary policy. Trump extolled the latest new peak on Twitter, saying "Dow just hit 27,000 for the first time EVER!" The Nasdaq, which had closed at a record following Powell's testimony on Wednesday, pulled back slightly. It was joined lower by European bourses, which were pressured by stronger currencies after Powell's remarks weighed on the dollar. "It's safe to say that investors were pleased with Jerome Powell's first day of testimony on Wednesday, with equity markets jumping on his dovish assessment," said Oanda analyst Craig Erlam. "The Fed Chairman doesn't typically provide strong and direct messages on policy direction, which makes predicting future rate movements all the more difficult. But Wednesday's message was clear, the data is softening -- particularly on the inflation side -- and downside risks are significant," Erlam said. Fresh trade discord But Thursday's records came amid fresh signs of trade policy discord that have troubled investors over the last year. Trump, also on Twitter, accused China Beijing of backsliding on a recent pledge to buy more US farm exports. "Hopefully they will start soon!" Trump's latest tweet on China "means we are not closer to a deal with China," said Art Hogan, chief market strategist at National Securities. There were also fresh signs of tension between the US and Europe. On Wednesday, officials said US President Donald Trump had ordered an investigation into France's planned tax on internet services. The French parliament passed the tax anyway on Thursday, making Google, Apple, Facebook and Amazon principal targets of the higher taxes. Among individual companies, Delta Air Lines climbed 1.2 percent as it reported a nearly 40 per cent surge in second-quarter profits to $1.4 billion on strong flying demand. The company also benefited from its lack of exposure to the Boeing 737 MAX, which has been grounded following two crashes. Delta does not own any of planes.

Dow ends above 27,000 points for first time, S&P 500 hits record on Federal Reserve rate cut optimism

US President Donald Trump backed down Thursday from a push to force a controversial question on citizenship onto the <a href="https://www.wionews.com/world/worried-about-undercount-states-and-cities-spend-promote-2020-census-168774">2020 census</a> following a backlash by civil rights campaigners.

Critics said the administration wanted to add the question to suppress participation by immigrant communities in the <a href="https://www.wionews.com/world/lawmaker-aims-to-get-citizenship-question-removed-from-us-census-181537">once-a-decade survey</a> that helps officials determine where to allocate federal resources.&nbsp;

"We are pursuing a new option to ensure a complete and timely count of the non-citizen population," the president told a news conference at the White House.

Two weeks ago, the <a href="https://www.wionews.com/world/us-supreme-court-blocks-trumps-census-citizenship-question-for-now-230965">Supreme Court seemingly ended a legal and political battle</a> over the issue. It concluded that the Trump administration's stated reasons for including the question were "contrived," and blocked the move.

Stung by the conservative-majority high court's 5-4 decision, Trump raised the possibility of forcing the issue with an executive order or even postponing the census.

The stakes are immense,&nbsp;the census helps determine the disbursement of $675 billion in federal subsidies and the number of seats in the US House of Representatives allocated to each state.

A question on citizenship, which was dropped more than 60 years ago, could stop between 1.6 and 6.5 million immigrants from participating or answering truthfully, according to census officials.

Immigrants living in the country illegally would especially be reticent, out of fear that they would be identified for deportation.

As he announced the U-turn, Trump said he would sign an executive order requiring federal agencies to provide the Commerce Department with immigration information from their existing databases.

"It is essential that we have a clear breakdown of the number of citizens and non-citizens that make up the US population. Imperative," he said.

Rights groups and Democrats hailed Trump's climb-down.

"President @realDonaldTrump's census defeat is a significant victory for democracy and fair representation. Every person must be counted, and no one should be intimidated by the president and his capricious behaviour," Senate Minority Leader Chuck Schumer said on Twitter.&nbsp;

"His retreat on adding the misguided citizen question to the census was long overdue."

The American Civil Liberties Union added that it will continue to monitor the Trump administration's efforts to count immigrants.

"When the details of Trump's new plan to compile citizenship data outside of the census come out -- and his plans for using that data -- we will scrutinise them closely and assess their legality."

US President Donald Trump backed down Thursday from a push to force a controversial question on citizenship onto the 2020 census following a backlash by civil rights campaigners.

US President Donald Trump backed down Thursday from a push to force a controversial question on citizenship onto the 2020 census following a backlash by civil rights campaigners. Critics said the administration wanted to add the question to suppress participation by immigrant communities in the once-a-decade survey that helps officials determine where to allocate federal resources. "We are pursuing a new option to ensure a complete and timely count of the non-citizen population," the president told a news conference at the White House. Two weeks ago, the Supreme Court seemingly ended a legal and political battle over the issue. It concluded that the Trump administration's stated reasons for including the question were "contrived," and blocked the move. Stung by the conservative-majority high court's 5-4 decision, Trump raised the possibility of forcing the issue with an executive order or even postponing the census. The stakes are immense, the census helps determine the disbursement of $675 billion in federal subsidies and the number of seats in the US House of Representatives allocated to each state. A question on citizenship, which was dropped more than 60 years ago, could stop between 1.6 and 6.5 million immigrants from participating or answering truthfully, according to census officials. Immigrants living in the country illegally would especially be reticent, out of fear that they would be identified for deportation. As he announced the U-turn, Trump said he would sign an executive order requiring federal agencies to provide the Commerce Department with immigration information from their existing databases. "It is essential that we have a clear breakdown of the number of citizens and non-citizens that make up the US population. Imperative," he said. Rights groups and Democrats hailed Trump's climb-down. "President @realDonaldTrump's census defeat is a significant victory for democracy and fair representation. Every person must be counted, and no one should be intimidated by the president and his capricious behaviour," Senate Minority Leader Chuck Schumer said on Twitter. "His retreat on adding the misguided citizen question to the census was long overdue." The American Civil Liberties Union added that it will continue to monitor the Trump administration's efforts to count immigrants. "When the details of Trump's new plan to compile citizenship data outside of the census come out -- and his plans for using that data -- we will scrutinise them closely and assess their legality."

Donald Trump backs down on including citizenship question in 2020 census

<a href="https://www.wionews.com/world/us-president-donald-trump-seeks-to-override-supreme-court-ruling-on-census-233448">US President Donald Trump</a> on Wednesday ordered an investigation into France's planned tax on technology companies, a probe that could lead to the United States imposing new tariffs or other trade restrictions.

"The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies," <a href="https://www.wionews.com/world/us-china-trade-negotiators-hold-talks-ahead-of-xi-trump-meeting-report-230147">US Trade Representative Robert Lighthizer</a> said in a statement announcing the investigation.

The move gives Lighthizer up to a year to investigate if France's digital-tax plan would hurt US technology companies.

The "Section 301" investigation will determine if the levy poses an unfair trade practice. Prior investigations have covered Chinese trade practices and <a href="https://www.wionews.com/world/european-union-strongly-urges-iran-to-stop-nuclear-enrichment-234076">European Union</a> subsidies on large commercial aircraft.

French finance minister Bruno Le Maire said in March that a 3 per cent tax on the French revenue of large internet companies could yield $563 million&nbsp;a year.

USTR said in a statement the "services covered are ones where US firms are global leaders. The structure of the proposed new tax, as well as statements by officials, suggest that France is unfairly targeting the tax at certain US-based technology companies."

Lighthizer said Trump "has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce."

Le Maire said the tax would target some 30 companies, mostly American but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies.

The tax would affect companies with at least $844 million&nbsp;in annual revenues and apply to revenue from digital business including online advertising. Companies such as Alphabet Inc's Google, Apple Inc, Facebook Inc, and Amazon.com Inc would likely be subject to the tax.

The technology industry lobby group ITI, which represents Apple, Amazon, Google, and other tech companies, urged the United States not to resort to tariffs in the dispute.

"We support the US government’s efforts to investigate these complex trade issues but urge it to pursue the 301 investigations in a spirit of international cooperation and without using tariffs as a remedy," Jennifer McCloskey, ITI’s vice president of policy, said in a statement.

Senate Finance Committee Chairman Chuck Grassley, a Republican, and Senator Ron Wyden, the top Democrat on the panel, praised the investigation.

"The digital services tax that France and other European countries are pursuing is clearly protectionist and unfairly targets American companies in a way that will cost US jobs and harm American workers," they said in a joint statement.

"The United States would not need to pursue this path if other countries would abandon these unilateral actions and focus their energies on the multilateral process that is underway," the statement added.

Lighthizer said the United States "will continue its efforts with other countries at the OECD to reach a multilateral agreement to address the challenges to the international tax system posed by an increasingly digitized global economy."

Bloomberg Tax reported the investigation earlier, citing two people familiar with the matter.

US President Donald Trump on Wednesday ordered an investigation into France's planned tax on technology companies, a probe that could lead to the United States imposing new tariffs or other trade restrictions.

US President Donald Trump on Wednesday ordered an investigation into France's planned tax on technology companies, a probe that could lead to the United States imposing new tariffs or other trade restrictions. "The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies," US Trade Representative Robert Lighthizer said in a statement announcing the investigation. The move gives Lighthizer up to a year to investigate if France's digital-tax plan would hurt US technology companies. The "Section 301" investigation will determine if the levy poses an unfair trade practice. Prior investigations have covered Chinese trade practices and European Union subsidies on large commercial aircraft. French finance minister Bruno Le Maire said in March that a 3 per cent tax on the French revenue of large internet companies could yield $563 million a year. USTR said in a statement the "services covered are ones where US firms are global leaders. The structure of the proposed new tax, as well as statements by officials, suggest that France is unfairly targeting the tax at certain US-based technology companies." Lighthizer said Trump "has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce." Le Maire said the tax would target some 30 companies, mostly American but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies. The tax would affect companies with at least $844 million in annual revenues and apply to revenue from digital business including online advertising. Companies such as Alphabet Inc's Google, Apple Inc, Facebook Inc, and Amazon.com Inc would likely be subject to the tax. The technology industry lobby group ITI, which represents Apple, Amazon, Google, and other tech companies, urged the United States not to resort to tariffs in the dispute. "We support the US government’s efforts to investigate these complex trade issues but urge it to pursue the 301 investigations in a spirit of international cooperation and without using tariffs as a remedy," Jennifer McCloskey, ITI’s vice president of policy, said in a statement. Senate Finance Committee Chairman Chuck Grassley, a Republican, and Senator Ron Wyden, the top Democrat on the panel, praised the investigation. "The digital services tax that France and other European countries are pursuing is clearly protectionist and unfairly targets American companies in a way that will cost US jobs and harm American workers," they said in a joint statement. "The United States would not need to pursue this path if other countries would abandon these unilateral actions and focus their energies on the multilateral process that is underway," the statement added. Lighthizer said the United States "will continue its efforts with other countries at the OECD to reach a multilateral agreement to address the challenges to the international tax system posed by an increasingly digitized global economy." Bloomberg Tax reported the investigation earlier, citing two people familiar with the matter.

Trump administration 'very concerned' over French plan to tax US tech companies

The US Department of Justice opened an investigation into whether Deutsche Bank, Germany's embattled biggest lender, violated foreign financial laws in its work for 1MDB, American media reported Wednesday.

The department is looking into whether <a href="https://www.wionews.com/business-economy/deutsche-bank-to-cut-18000-jobs-in-74-billion-euro-overhaul-233820">Deutsche Bank</a> broke foreign corruption or anti-money laundering laws through its work for 1MDB, which included helping the Malaysian fundraise $1.2 billion in 2014 as concern's about its management and financials had begun to circulate, The Wall Street Journal reported.

Billions of dollars were looted from the investment vehicle between 2009 and 2014 and spent on everything from yachts to expensive artwork, in a fraud allegedly involving disgraced <a href="https://www.wionews.com/opinions/what-najib-razaks-corruption-trial-means-for-malaysia-and-the-region-207838">Malaysian ex-premier Najib Razak</a> and his cronies.&nbsp;

The investigation into Deutsche Bank has been helped by former Goldman Sachs banker Tim Leissner, who pled guilty to his involvement in the 1MDB scandal, the Journal reported.

Prosecutors are looking into the role of Leissner's former colleague Tan Boon-Kee, who also worked as Deutsche Bank's Asia Pacific head of banking for financial institution clients, the newspaper said.

Tan left Deutsche Bank last year after it was discovered she had been in contact with Jho Low, the Malaysian financier who allegedly played a central role in the fraud, according to the Journal.

Deutsche Bank has "cooperated fully" with the investigation, it said in a statement and claims it was misled by 1MDB.

"1MDB made 'material misrepresentations and omissions to Deutsche Bank officials' in connection with 1MDB's transactions with the bank," the statement said, citing Justice Department documents.

Deutsche Bank is already in trouble in the US, after top Senate Democrats in June asked the Federal Reserve to scrutinize the lender over allegedly suspicious transactions tied to President Donald Trump and his son-in-law Jared Kushner.

Democratic lawmakers suspected the bank staff of deliberately suppressing warnings of suspicious activities.

The bank also announced Sunday it would make 18,000 job cuts by 2022 about one-fifth of its workforce as it seeks to escape years of turmoil and return to sustained profits.

The new round of job cuts comes on top of some 6,000 already carried out over the past year.&nbsp;

The restructuring could be the last chance for Deutsche Bank after much-hyped merger talks with Frankfurt rival Commerzbank fell through earlier this year. 
&nbsp;

The US Department of Justice opened an investigation into whether Deutsche Bank, Germany's embattled biggest lender, violated foreign financial laws in its work for 1MDB, American media reported Wednesday.

The US Department of Justice opened an investigation into whether Deutsche Bank, Germany's embattled biggest lender, violated foreign financial laws in its work for 1MDB, American media reported Wednesday. The department is looking into whether Deutsche Bank broke foreign corruption or anti-money laundering laws through its work for 1MDB, which included helping the Malaysian fundraise $1.2 billion in 2014 as concern's about its management and financials had begun to circulate, The Wall Street Journal reported. Billions of dollars were looted from the investment vehicle between 2009 and 2014 and spent on everything from yachts to expensive artwork, in a fraud allegedly involving disgraced Malaysian ex-premier Najib Razak and his cronies. The investigation into Deutsche Bank has been helped by former Goldman Sachs banker Tim Leissner, who pled guilty to his involvement in the 1MDB scandal, the Journal reported. Prosecutors are looking into the role of Leissner's former colleague Tan Boon-Kee, who also worked as Deutsche Bank's Asia Pacific head of banking for financial institution clients, the newspaper said. Tan left Deutsche Bank last year after it was discovered she had been in contact with Jho Low, the Malaysian financier who allegedly played a central role in the fraud, according to the Journal. Deutsche Bank has "cooperated fully" with the investigation, it said in a statement and claims it was misled by 1MDB. "1MDB made 'material misrepresentations and omissions to Deutsche Bank officials' in connection with 1MDB's transactions with the bank," the statement said, citing Justice Department documents. Deutsche Bank is already in trouble in the US, after top Senate Democrats in June asked the Federal Reserve to scrutinize the lender over allegedly suspicious transactions tied to President Donald Trump and his son-in-law Jared Kushner. Democratic lawmakers suspected the bank staff of deliberately suppressing warnings of suspicious activities. The bank also announced Sunday it would make 18,000 job cuts by 2022 about one-fifth of its workforce as it seeks to escape years of turmoil and return to sustained profits. The new round of job cuts comes on top of some 6,000 already carried out over the past year. The restructuring could be the last chance for Deutsche Bank after much-hyped merger talks with Frankfurt rival Commerzbank fell through earlier this year.

US Justice department investigating Deutsche Bank over 1MDB connection: Report

How serious are Iran's breaches of the 2015 deal and what does higher enrichment mean?

Major Fallout Of The Diplomatic Row Between The U.S. & UK

Gravitas: UK-US. Diplomatic rift: Leak costs Ambassador his job

WION Speed News: Watch top national and international news of the morning - July 11th, 2019

<a href="https://www.wionews.com/world/russia-agrees-with-saudi-arabia-to-extend-opec-and-oil-output-deal-231649">OPEC</a> on Thursday forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain supplies.

The drop in demand for OPEC crude highlights the sustained boost that OPEC's policy to support prices by supply cuts is giving to US shale and other rival supply. This potentially gives US President Donald Trump more room to keep up sanctions on OPEC members Iran and <a href="https://www.wionews.com/opinions/indigenous-people-are-forgotten-victims-of-the-ongoing-crisis-in-venezuela-215018">Venezuela</a>.

Giving its first 2020 forecasts in a monthly report, the Organization of the Petroleum Exporting Countries said the world would need 29.27 million barrels per day (bpd) of crude from its 14 members next year, down 1.34 million bpd from this year.

"US tight crude production is anticipated to continue to grow as new pipelines will allow more Permian crude to flow to the US Gulf Coast export hub," OPEC said, using another term for shale oil.

OPEC in the report also forecast that world oil demand would rise at the same pace as this year and that the world economy would expand at this year's pace, despite slower growth in the United States and China.

"The 2020 forecast assumes that no further downside risks materialize, particularly that trade-related issues do not escalate further," OPEC said of the economic outlook.

"Brexit poses an additional risk, as does a continuation in the current slowdown in manufacturing activity."

OPEC, Russia and other producers have since Jan. 1 implemented a deal to cut output by 1.2 million bpd. The alliance, known as OPEC+, last week renewed the pact until March 2020 to avoid a build-up of inventories that could hit prices.

Oil pared earlier gains after the report was released, although prices were still trading above $67 a barrel after three Iranian vessels tried to block a British ship in the Strait of Hormuz oil chokepoint.

Despite the supply cut, oil has tumbled from April's 2019 peak above $75, pressured by concerns over the US-China trade dispute and an economic slowdown.

OPEC also oil inventories in developed economies rose in May, suggesting a trend that could raise concern over a possible oil glut.

Stocks in May exceeded the five-year average - a yardstick OPEC watches closely - by 25 million barrels.

Output Drop

OPEC said its oil output in June fell by 68,000 bpd to 29.83 million bpd as US sanctions on Iran boosted the impact of the supply pact.

According to figures OPEC collects from secondary sources, supply from Iran posted the biggest decline, by 142,000 bpd, as Washington tightened the screws on Iranian exports.

Top exporter Saudi Arabia increased output by 126,000 bpd to 9.81 million bpd in June but continued to voluntarily pump less than the supply pact allows it to in order to bolster the market. Nigeria, seeking a higher OPEC quota, posted the group's largest boost in output.

With 2020 demand for OPEC crude expected to average 29.27 million bpd, OPEC's report suggests there will be a 2020 supply surplus of over 500,000 bpd if OPEC keeps pumping at June's rate and other things remain equal.

OPEC on Thursday forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain supplies.

OPEC on Thursday forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain supplies. The drop in demand for OPEC crude highlights the sustained boost that OPEC's policy to support prices by supply cuts is giving to US shale and other rival supply. This potentially gives US President Donald Trump more room to keep up sanctions on OPEC members Iran and Venezuela. Giving its first 2020 forecasts in a monthly report, the Organization of the Petroleum Exporting Countries said the world would need 29.27 million barrels per day (bpd) of crude from its 14 members next year, down 1.34 million bpd from this year. "US tight crude production is anticipated to continue to grow as new pipelines will allow more Permian crude to flow to the US Gulf Coast export hub," OPEC said, using another term for shale oil. OPEC in the report also forecast that world oil demand would rise at the same pace as this year and that the world economy would expand at this year's pace, despite slower growth in the United States and China. "The 2020 forecast assumes that no further downside risks materialize, particularly that trade-related issues do not escalate further," OPEC said of the economic outlook. "Brexit poses an additional risk, as does a continuation in the current slowdown in manufacturing activity." OPEC, Russia and other producers have since Jan. 1 implemented a deal to cut output by 1.2 million bpd. The alliance, known as OPEC+, last week renewed the pact until March 2020 to avoid a build-up of inventories that could hit prices. Oil pared earlier gains after the report was released, although prices were still trading above $67 a barrel after three Iranian vessels tried to block a British ship in the Strait of Hormuz oil chokepoint. Despite the supply cut, oil has tumbled from April's 2019 peak above $75, pressured by concerns over the US-China trade dispute and an economic slowdown. OPEC also oil inventories in developed economies rose in May, suggesting a trend that could raise concern over a possible oil glut. Stocks in May exceeded the five-year average - a yardstick OPEC watches closely - by 25 million barrels. Output Drop OPEC said its oil output in June fell by 68,000 bpd to 29.83 million bpd as US sanctions on Iran boosted the impact of the supply pact. According to figures OPEC collects from secondary sources, supply from Iran posted the biggest decline, by 142,000 bpd, as Washington tightened the screws on Iranian exports. Top exporter Saudi Arabia increased output by 126,000 bpd to 9.81 million bpd in June but continued to voluntarily pump less than the supply pact allows it to in order to bolster the market. Nigeria, seeking a higher OPEC quota, posted the group's largest boost in output. With 2020 demand for OPEC crude expected to average 29.27 million bpd, OPEC's report suggests there will be a 2020 supply surplus of over 500,000 bpd if OPEC keeps pumping at June's rate and other things remain equal.

OPEC sees lower 2020 demand for its oil, points to surplus

The number of Americans filing applications for unemployment benefits dropped to a three-month low last week, suggesting sustained labor market strength that could help support a slowing economy.

Initial claims for state unemployment benefits declined 13,000 to a seasonally adjusted 209,000 for the week ended July 6, the lowest level since April, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported.

Economists polled by Reuters had forecast claims rising to 223,000 in the latest week.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 3,250 to 219,250 last week.

The Labor Department said no claims were estimated last week. The claims data is entering a period of volatility as auto manufacturers temporarily shut down assembly plants for summer retooling.&nbsp;

Companies carry out the plant closures at different times, which can throw off the model the government uses to strip out seasonal fluctuations from the data.

There is still no sign of an increase in layoffs related to a trade war between the United States and China, which has helped to dim the economy's outlook and raise expectations for an interest rate cut this month, the first in a decade.

<a href="https://www.wionews.com/business-economy/nasdaq-ends-at-record-high-dollar-falls-as-us-fed-signals-possible-rate-cut-234814">Federal Reserve Chairman Jerome Powell</a> told lawmakers on Wednesday that the US central bank would "act as appropriate" to protect the economy from the trade tensions and slowing global growth. (Full Story)

Fed officials are scheduled to meet on July 30-31. The economy is also slowing as last year's massive stimulus from tax cuts and more government spending fades.

&nbsp;Manufacturing is struggling, the trade deficit is widening again, consumer spending is rising moderately and the housing sector remains mired in a soft patch.

Despite the rising risks to the 10-year old economic expansion, the longest in history, the labor market remains healthy.&nbsp;

The economy created 224,000 jobs in June. While the unemployment rate ticked up one-tenth of a percentage point to 3.7%, that was because more people entered the labor market, a sign of confidence in their employment prospects.

Thursday's claims report also showed the number of people receiving benefits after an initial week of aid increased 27,000 to 1.72 million for the week ended June 29, the highest level since March.&nbsp;

The four-week moving average of the so-called continuing claims rose 5,750 to 1.69 million.

The number of Americans filing applications for unemployment benefits dropped to a three-month low last week, suggesting sustained labor market strength that could help support a slowing economy.

The number of Americans filing applications for unemployment benefits dropped to a three-month low last week, suggesting sustained labor market strength that could help support a slowing economy. Initial claims for state unemployment benefits declined 13,000 to a seasonally adjusted 209,000 for the week ended July 6, the lowest level since April, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast claims rising to 223,000 in the latest week. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 3,250 to 219,250 last week. The Labor Department said no claims were estimated last week. The claims data is entering a period of volatility as auto manufacturers temporarily shut down assembly plants for summer retooling. Companies carry out the plant closures at different times, which can throw off the model the government uses to strip out seasonal fluctuations from the data. There is still no sign of an increase in layoffs related to a trade war between the United States and China, which has helped to dim the economy's outlook and raise expectations for an interest rate cut this month, the first in a decade. Federal Reserve Chairman Jerome Powell told lawmakers on Wednesday that the US central bank would "act as appropriate" to protect the economy from the trade tensions and slowing global growth. (Full Story) Fed officials are scheduled to meet on July 30-31. The economy is also slowing as last year's massive stimulus from tax cuts and more government spending fades. Manufacturing is struggling, the trade deficit is widening again, consumer spending is rising moderately and the housing sector remains mired in a soft patch. Despite the rising risks to the 10-year old economic expansion, the longest in history, the labor market remains healthy. The economy created 224,000 jobs in June. While the unemployment rate ticked up one-tenth of a percentage point to 3.7%, that was because more people entered the labor market, a sign of confidence in their employment prospects. Thursday's claims report also showed the number of people receiving benefits after an initial week of aid increased 27,000 to 1.72 million for the week ended June 29, the highest level since March. The four-week moving average of the so-called continuing claims rose 5,750 to 1.69 million.

United States weekly jobless claims fall to three-month low

The new tax would be retrospectively applied from early 2019, and is expected to raise about €400m ($450m; £360m) this year. Any digital company with revenue of more than €750m - of which at least €25m is generated in France - would be subject to the tax.

US launches inquiry into French plan to tax tech giants

<a href="https://www.wionews.com/business-economy/reckitt-picks-pepsico-executive-as-ceo-going-outside-for-first-time-226588">British consumer health giant Reckitt</a> Benckiser announced Thursday it will pay up to $1.4 billion (1.2 billion euros) to settle a dispute with US authorities over the sale and marketing of an opioid addiction treatment.

The case concerns the pharmaceutical company Indivior, which was an RB subsidiary before emerging in 2014.

The US authorities criticised Indivior for having sought to take advantage of the opioid addiction crisis in the <a href="https://www.wionews.com/world/global-shares-muted-as-prospect-of-sharp-united-states-rate-cut-fades-234064">United States</a> by exaggerating the safety of its drug Suboxone.

RB said it had reached agreements with the US Department of Justice and the Federal Trade Commission to resolve the long-running investigation.

"RB will pay a total of up to $1.4 billion to fully resolve all federal investigations into RB in connection with the subject matter," the firm said in a statement.

The agreements cover the Indivior indictment and claims relating to state Medicaid programmes for those states choosing to participate in the settlement, said the group.

"While RB has acted lawfully at all times and expressly denies all allegations that it engaged in any wrongful conduct, after careful consideration, the board of RB determined that the agreement is in the best interests of the company and its shareholders," a statement said.

"It avoids the costs, uncertainty and distraction associated with continued investigations, litigation and the potential for an indictment."

Indivior was indicted in April over an alleged scheme to push its treatment for opioid addicts and reap billions of dollars from it.

A grand jury in the federal court in Abingdon, Virginia said that Indivior marketed Suboxone Film, an opioid-based drug, as a safe and controllable treatment for opioid and heroin addiction.

But the indictment said that Indivior sought to boost sales by exaggerating the safety of Suboxone Film and connecting patients with doctors who were known to over-prescribe it and other opioids, taking advantage of the country's huge opioid addiction crisis.

Beginning in 2010, the indictment claimed, Indivior told health care providers and programmes that Suboxone Film, which contains the opioid buprenorphine, was better and safer than similar drugs, when in fact it was not.

Indivior left the RB group in 2014. The pharmaceutical company is based in Richmond, Virginia, and is listed on the London Stock Exchange.

In a statement at the time, Indivior called the indictment "wholly unsupported by either the facts or the law".

British consumer health giant Reckitt Benckiser announced Thursday it will pay up to $1.4 billion (1.2 billion euros) to settle a dispute with US authorities over the sale and marketing of an opioid addiction treatment.

British consumer health giant Reckitt Benckiser announced Thursday it will pay up to $1.4 billion (1.2 billion euros) to settle a dispute with US authorities over the sale and marketing of an opioid addiction treatment. The case concerns the pharmaceutical company Indivior, which was an RB subsidiary before emerging in 2014. The US authorities criticised Indivior for having sought to take advantage of the opioid addiction crisis in the United States by exaggerating the safety of its drug Suboxone. RB said it had reached agreements with the US Department of Justice and the Federal Trade Commission to resolve the long-running investigation. "RB will pay a total of up to $1.4 billion to fully resolve all federal investigations into RB in connection with the subject matter," the firm said in a statement. The agreements cover the Indivior indictment and claims relating to state Medicaid programmes for those states choosing to participate in the settlement, said the group. "While RB has acted lawfully at all times and expressly denies all allegations that it engaged in any wrongful conduct, after careful consideration, the board of RB determined that the agreement is in the best interests of the company and its shareholders," a statement said. "It avoids the costs, uncertainty and distraction associated with continued investigations, litigation and the potential for an indictment." Indivior was indicted in April over an alleged scheme to push its treatment for opioid addicts and reap billions of dollars from it. A grand jury in the federal court in Abingdon, Virginia said that Indivior marketed Suboxone Film, an opioid-based drug, as a safe and controllable treatment for opioid and heroin addiction. But the indictment said that Indivior sought to boost sales by exaggerating the safety of Suboxone Film and connecting patients with doctors who were known to over-prescribe it and other opioids, taking advantage of the country's huge opioid addiction crisis. Beginning in 2010, the indictment claimed, Indivior told health care providers and programmes that Suboxone Film, which contains the opioid buprenorphine, was better and safer than similar drugs, when in fact it was not. Indivior left the RB group in 2014. The pharmaceutical company is based in Richmond, Virginia, and is listed on the London Stock Exchange. In a statement at the time, Indivior called the indictment "wholly unsupported by either the facts or the law".

Reckitt pays US 1.4 billion dollar to settle opioid treatment spat

Oil prices rose 4.5 per cent a barrel on Wednesday to their highest level in more than a month after <a href="https://www.wionews.com/business-economy/oil-falls-on-trade-dispute-despite-surprise-drop-in-us-crude-inventories-217140">US crude inventories</a> shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm.

Brent crude futures settled at $67.01 a barrel, up $2.85, or 4.44 percent. US <a href="https://www.wionews.com/business-economy/crude-oil-prices-fall-1-on-fears-for-global-economy-233148">West Texas Intermediate</a> (WTI) crude futures settled at $60.43 a barrel, climbing $2.60, or 4.50 percent.

Both benchmarks hit their highest prices since late-May.

US crude stocks fell 9.5 million barrels in the week to July 5, shrinking more than triple the 3.1 million-barrel draw analysts had expected as refineries ramped up output, the Energy Information Administration (EIA) said.

"The inventory draw was much stronger than expected," which helped to push oil prices higher, said Carsten Fritsch, oil analyst at Commerzbank. "Imports dropped and refinery utilization reached the highest level since the beginning of the year, contributing to the big draw."

A storm expected to form along the Gulf of Mexico also helped oil prices.

Major oil firms began evacuating and halting production in the Gulf of Mexico ahead of the storm, which is forecast to become a hurricane by the weekend.

"With the evacuation of several platforms in the Gulf of Mexico in advance of a tropical storm, that will curb production," said Andrew Lipow, president of Lipow Oil Associates.

Chevron Corp, Royal Dutch Shell, BP, Anadarko Petroleum and BHP Group &nbsp;were in the process of removing staff from 15 offshore platforms. Exxon Mobil &nbsp;said it was monitoring the weather to determine if its facilities might be affected.

The Gulf of Mexico is home to 17 per cent of US crude oil output which stands at around 12 million barrels per day.

The US and global benchmarks have gained this year as the Organisation of the Petroleum Exporting Countries (OPEC) and big producers such as Russia have curbed output to bolster prices.

The alliance, known as OPEC+, agreed last week to extend its supply-cutting deal until March 2020.

Tensions around Iran's nuclear programme and recent incidents involving oil tankers in the Gulf have also supported prices.

"The ongoing geopolitical tensions between the United States and Iran continue to add a still unquantifiable level of support," said Saxo Bank commodity strategist Ole Hansen.

A top US general said on Tuesday that Washington hopes to enlist allies over the next two weeks or so in a military coalition to safeguard strategic waters off Iran and Yemen, where the United States blames Iran and Iran-aligned fighters for attacks.

Oil prices rose 4.5 per cent a barrel on Wednesday to their highest level in more than a month after US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm.

Oil prices rose 4.5 per cent a barrel on Wednesday to their highest level in more than a month after US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm. Brent crude futures settled at $67.01 a barrel, up $2.85, or 4.44 percent. US West Texas Intermediate (WTI) crude futures settled at $60.43 a barrel, climbing $2.60, or 4.50 percent. Both benchmarks hit their highest prices since late-May. US crude stocks fell 9.5 million barrels in the week to July 5, shrinking more than triple the 3.1 million-barrel draw analysts had expected as refineries ramped up output, the Energy Information Administration (EIA) said. "The inventory draw was much stronger than expected," which helped to push oil prices higher, said Carsten Fritsch, oil analyst at Commerzbank. "Imports dropped and refinery utilization reached the highest level since the beginning of the year, contributing to the big draw." A storm expected to form along the Gulf of Mexico also helped oil prices. Major oil firms began evacuating and halting production in the Gulf of Mexico ahead of the storm, which is forecast to become a hurricane by the weekend. "With the evacuation of several platforms in the Gulf of Mexico in advance of a tropical storm, that will curb production," said Andrew Lipow, president of Lipow Oil Associates. Chevron Corp, Royal Dutch Shell, BP, Anadarko Petroleum and BHP Group were in the process of removing staff from 15 offshore platforms. Exxon Mobil said it was monitoring the weather to determine if its facilities might be affected. The Gulf of Mexico is home to 17 per cent of US crude oil output which stands at around 12 million barrels per day. The US and global benchmarks have gained this year as the Organisation of the Petroleum Exporting Countries (OPEC) and big producers such as Russia have curbed output to bolster prices. The alliance, known as OPEC+, agreed last week to extend its supply-cutting deal until March 2020. Tensions around Iran's nuclear programme and recent incidents involving oil tankers in the Gulf have also supported prices. "The ongoing geopolitical tensions between the United States and Iran continue to add a still unquantifiable level of support," said Saxo Bank commodity strategist Ole Hansen. A top US general said on Tuesday that Washington hopes to enlist allies over the next two weeks or so in a military coalition to safeguard strategic waters off Iran and Yemen, where the United States blames Iran and Iran-aligned fighters for attacks.

Oil prices jump 4.5 per cent on United States crude stocks draw, Gulf of Mexico storm

A Guatemalan asylum seeker left some members of a US House panel visibly shaken on Wednesday with the story of her daughter's death, saying the toddler had contracted a deadly lung infection during 20-day detention near the US border with <a href="https://www.wionews.com/world/mexico-eyes-brazil-for-us-asylum-deal-trump-revives-tariff-threat-226124">Mexico</a>.

Yazmin Juarez told a House of Representatives subcommittee that it was "like they tore out a piece of my heart" when just weeks after they were released her daughter Mariee died at 19 months old.

She said she left a hospital with nothing but a piece of paper with two handprints in pink paint that staff had made for her, and described through a translator how she missed her daughter's hugs.

Juarez said it was hard to relive the experience, but wanted to shed light on the lack of medical care. "The world should know," she said.

"It can’t be so hard for a country like the <a href="https://www.wionews.com/world/united-nation-rights-chief-shocked-by-conditions-at-us-migrant-detention-centres-234083">United States</a> to protect kids who are locked up.

Guatemalan migrant: Life is difficult without my child

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/guatemalan-migrant-life-is-difficult-without-my-child-234883/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Juarez testified at the House Committee on Oversight and Reform that was examining the treatment of refugees in US detention.

Apprehensions along the border have spiked to the highest in at least a decade, driven by families from Central America who say they are seeking asylum and fleeing violence in their home countries.

Images of filthy detention facilities jammed with refugees have sparked widespread criticism. On Monday UN human rights chief Michelle Bachelet said she was "appalled" that migrant children were forced to sleep on floors.

President Donald Trump's tough stance on immigration has been one of his signature policies. "If Illegal Immigrants are unhappy with the conditions in the quickly built or refitted detentions centers, just tell them not to come," Trump wrote on Twitter last week.

Juarez told members of Congress, several of whom appeared shaken by her testimony, that her daughter was healthy when the pair were initially detained. They were held with 30 others, including sick children whom Juarez said could have infected her daughter.

Juarez said that she and her daughter fled violence in Guatemala for a better life.

“Unfortunately, that did not happen,” Juarez said.

Several members of the subcommittee including New York Democrat Alexandria Ocasio-Cortez hugged Juarez after she spoke.

"No hay palabras, there are no words," said Chip Roy of Texas, the ranking Republican on the subcommittee.

He blamed Democrats for the border crowding.

"The blood is on the hands of the Democrats who refuse to actually address this," he said.

The hearing came as a senior US Customs and Border Protection official told reporters that border agents were detaining only about 200 unaccompanied children at locations in the Southwest as of Wednesday, down from more than 2,500 in May. The reduction reflects funding increases that have enabled a federal health agency to expand its holding capacity.

A Guatemalan asylum seeker left some members of a US House panel visibly shaken on Wednesday with the story of her daughter's death, saying the toddler had contracted a deadly lung infection during 20-day detention near the US border with Mexico.

A Guatemalan asylum seeker left some members of a US House panel visibly shaken on Wednesday with the story of her daughter's death, saying the toddler had contracted a deadly lung infection during 20-day detention near the US border with Mexico. Yazmin Juarez told a House of Representatives subcommittee that it was "like they tore out a piece of my heart" when just weeks after they were released her daughter Mariee died at 19 months old. She said she left a hospital with nothing but a piece of paper with two handprints in pink paint that staff had made for her, and described through a translator how she missed her daughter's hugs. Juarez said it was hard to relive the experience, but wanted to shed light on the lack of medical care. "The world should know," she said. "It can’t be so hard for a country like the United States to protect kids who are locked up. Guatemalan migrant: Life is difficult without my child Juarez testified at the House Committee on Oversight and Reform that was examining the treatment of refugees in US detention. Apprehensions along the border have spiked to the highest in at least a decade, driven by families from Central America who say they are seeking asylum and fleeing violence in their home countries. Images of filthy detention facilities jammed with refugees have sparked widespread criticism. On Monday UN human rights chief Michelle Bachelet said she was "appalled" that migrant children were forced to sleep on floors. President Donald Trump's tough stance on immigration has been one of his signature policies. "If Illegal Immigrants are unhappy with the conditions in the quickly built or refitted detentions centers, just tell them not to come," Trump wrote on Twitter last week. Juarez told members of Congress, several of whom appeared shaken by her testimony, that her daughter was healthy when the pair were initially detained. They were held with 30 others, including sick children whom Juarez said could have infected her daughter. Juarez said that she and her daughter fled violence in Guatemala for a better life. “Unfortunately, that did not happen,” Juarez said. Several members of the subcommittee including New York Democrat Alexandria Ocasio-Cortez hugged Juarez after she spoke. "No hay palabras, there are no words," said Chip Roy of Texas, the ranking Republican on the subcommittee. He blamed Democrats for the border crowding. "The blood is on the hands of the Democrats who refuse to actually address this," he said. The hearing came as a senior US Customs and Border Protection official told reporters that border agents were detaining only about 200 unaccompanied children at locations in the Southwest as of Wednesday, down from more than 2,500 in May. The reduction reflects funding increases that have enabled a federal health agency to expand its holding capacity.

'World should know,' migrant tells US Congress of toddler's death

The legend of Afghanistan's 'Lion of Panjshir' Ahmad Shah Massoud

US President Donald Trump backs Labor Secretary Alexander Acosta, he said "I can tell you that for two and a half years, he's been just an excellent secretary of labor. He's done a fantastic job," Trump told reporters at the White House. Watch this video to know more.

Trump backs labour secretary Alexander Acosta

<a href="https://www.wionews.com/world/in-race-for-no-10-uks-johnson-and-hunt-vow-to-splash-the-cash-231797">British Foreign Secretary Jeremy Hunt</a> on Tuesday said <a href="https://www.wionews.com/world/us-president-donald-trump-seeks-to-override-supreme-court-ruling-on-census-233448">US President Donald Trump</a> was "disrespectful and wrong" in making disparaging remarks about outgoing Prime Minister Theresa May and her ambassador to Washington.

Hunt, who is vying with his predecessor Boris Johnson to replace May in Downing Street later this month, added that he would keep US ambassador Kim Darroch in place if he took office.

"@realDonaldTrump friends speak frankly so I will: these comments are disrespectful and wrong to our prime minister and my country," he tweeted.

"Your diplomats give their private opinions to @SecPompeo and so do ours! You said the UK/US alliance was the greatest in history and I agree.But allies need to treat each other with respect as @theresa_may has always done with you."

"Ambassadors are appointed by the UK government and if I become PM our ambassador stays."

He was responding to a broadside by Trump against both May's government and Darroch, triggered by the leak of unflattering diplomatic cables written by the British envoy.

Trump said Darroch was a "very stupid guy" and slammed outgoing May's "foolish" Brexit policies on Tuesday in a second straight day of virulent attacks.

The missives threaten to plunge Washington and London into an unprecedented diplomatic crisis.

Hunt is trailing Johnson in the contest to replace May as leader of their Conservative party and prime minister of Britain.

She is stepping down after failing to deliver Britain's exit from the European Union, three years after the 2016 referendum vote for Brexit.

Earlier, Johnson said he had a good relationship with the Trump White House and noted that he had criticized May's Brexit strategy.

"I have got a good relationship with the White House and I have no embarrassment in saying that," he told reporters.

"I think it's very important that we have a strong relationship with our most important ally.

"The United States is, has been, will be and for the foreseeable future our number one political-military friend."

British Foreign Secretary Jeremy Hunt on Tuesday said US President Donald Trump was "disrespectful and wrong" in making disparaging remarks about outgoing Prime Minister Theresa May and her ambassador to Washington.

British Foreign Secretary Jeremy Hunt on Tuesday said US President Donald Trump was "disrespectful and wrong" in making disparaging remarks about outgoing Prime Minister Theresa May and her ambassador to Washington. Hunt, who is vying with his predecessor Boris Johnson to replace May in Downing Street later this month, added that he would keep US ambassador Kim Darroch in place if he took office. "@realDonaldTrump friends speak frankly so I will: these comments are disrespectful and wrong to our prime minister and my country," he tweeted. "Your diplomats give their private opinions to @SecPompeo and so do ours! You said the UK/US alliance was the greatest in history and I agree.But allies need to treat each other with respect as @theresa_may has always done with you." "Ambassadors are appointed by the UK government and if I become PM our ambassador stays." He was responding to a broadside by Trump against both May's government and Darroch, triggered by the leak of unflattering diplomatic cables written by the British envoy. Trump said Darroch was a "very stupid guy" and slammed outgoing May's "foolish" Brexit policies on Tuesday in a second straight day of virulent attacks. The missives threaten to plunge Washington and London into an unprecedented diplomatic crisis. Hunt is trailing Johnson in the contest to replace May as leader of their Conservative party and prime minister of Britain. She is stepping down after failing to deliver Britain's exit from the European Union, three years after the 2016 referendum vote for Brexit. Earlier, Johnson said he had a good relationship with the Trump White House and noted that he had criticized May's Brexit strategy. "I have got a good relationship with the White House and I have no embarrassment in saying that," he told reporters. "I think it's very important that we have a strong relationship with our most important ally. "The United States is, has been, will be and for the foreseeable future our number one political-military friend."

Trump comments 'disrespectful and wrong': Jeremy Hunt

<a href="https://www.wionews.com/world/very-stupid-guy-donald-trump-renews-attack-on-uk-ambassador-theresa-may-234370">US President Donald Trump</a>'s administration on Tuesday threatened he would veto a massive defence bill being considered by the <a href="https://www.wionews.com/world/us-house-of-representatives-votes-to-repeal-obamacare-11249">House of Representatives</a>, saying it provides less money than he wants for the military and disagreeing with some of its policy provisions.

The version of the National Defence Authorization Act, or NDAA, up for a vote in the Democratic-led House sets $733 billion in military spending, $17 billion less than Trump's fiscal-year 2020 budget request.

The Republican-led Senate last month passed its version of the measure, authorizing $750 billion for the Pentagon. Once the House passes its bill, the two chambers must come up with a compromise bill, which must pass both before being sent to the White House for Trump to sign into law or veto.

The administration objected as well to provisions in the House bill seeking to stop Trump from spending billions of dollars to build a wall on the US border with Mexico after he declared a national emergency to go ahead with construction without Congress' approval.&nbsp;

It also opposed the bill's proposed imposition of stricter limits on the deployment of US troops to work along the border and the curtailing of Trump's ability to transfer money from one project to another without consulting Congress.

Trump's promise to build a border wall was a feature of his 2016 presidential campaign and has been a theme of his bid for re-election in 2020.

The administration also objected to a range of provisions including some related to nuclear weapons, Trump's plan for a "Space Force" and restrictions on detentions at the military prison at the Naval Station at Guantanamo Bay, including a proposed ban on additional transfers to the prison in Cuba.

The House is expected to vote on the NDAA later this week.

It was not immediately clear that it would pass. Trump's fellow Republicans may vote no and could be joined by many of the more liberal House Democrats, who object among other things to increasing defence spending without doing more to avoid waste at the Pentagon.&nbsp;

One of the few pieces of major legislation passed every year, the NDAA becomes a vehicle for a broad range of policy measures, as well as determining everything from military pay levels to which ships or aircraft will be modernized, purchased or discontinued.

US President Donald Trump's administration on Tuesday threatened he would veto a massive defence bill being considered by the House of Representatives, saying it provides less money than he wants for the military and disagreeing with some of its policy provisions.

US President Donald Trump's administration on Tuesday threatened he would veto a massive defence bill being considered by the House of Representatives, saying it provides less money than he wants for the military and disagreeing with some of its policy provisions. The version of the National Defence Authorization Act, or NDAA, up for a vote in the Democratic-led House sets $733 billion in military spending, $17 billion less than Trump's fiscal-year 2020 budget request. The Republican-led Senate last month passed its version of the measure, authorizing $750 billion for the Pentagon. Once the House passes its bill, the two chambers must come up with a compromise bill, which must pass both before being sent to the White House for Trump to sign into law or veto. The administration objected as well to provisions in the House bill seeking to stop Trump from spending billions of dollars to build a wall on the US border with Mexico after he declared a national emergency to go ahead with construction without Congress' approval. It also opposed the bill's proposed imposition of stricter limits on the deployment of US troops to work along the border and the curtailing of Trump's ability to transfer money from one project to another without consulting Congress. Trump's promise to build a border wall was a feature of his 2016 presidential campaign and has been a theme of his bid for re-election in 2020. The administration also objected to a range of provisions including some related to nuclear weapons, Trump's plan for a "Space Force" and restrictions on detentions at the military prison at the Naval Station at Guantanamo Bay, including a proposed ban on additional transfers to the prison in Cuba. The House is expected to vote on the NDAA later this week. It was not immediately clear that it would pass. Trump's fellow Republicans may vote no and could be joined by many of the more liberal House Democrats, who object among other things to increasing defence spending without doing more to avoid waste at the Pentagon. One of the few pieces of major legislation passed every year, the NDAA becomes a vehicle for a broad range of policy measures, as well as determining everything from military pay levels to which ships or aircraft will be modernized, purchased or discontinued.

Trump threatens veto of House defence bill over spending levels, Mexico wall

<a href="https://www.wionews.com/world/us-president-donald-trump-seeks-to-override-supreme-court-ruling-on-census-233448">US President Donald Trump</a> violated the Constitution by blocking people whose views he disliked from his Twitter account, a federal appeals court ruled on Tuesday.

In a 3-0 decision, the 2nd US Circuit Court of Appeals in Manhattan said the First Amendment forbids Trump from using Twitter's "blocking" function to limit access to his account, which has 61.8 million followers.

"The First Amendment does not permit a public official who utilizes a social media account for all manner of official purposes to exclude persons from an otherwise-open online dialogue because they expressed views with which the official disagrees," wrote Circuit Judge Barrington Parker, citing several Supreme Court decisions.

Kelly Laco, a spokeswoman for the <a href="https://www.wionews.com/world/us-lawmakers-introduce-bipartisan-bills-targeting-chinas-huawei-and-zte-190862">US Department of Justice</a>, which argued the appeal, said: "We are disappointed with the court's decision and are exploring possible next steps."

The White House declined to comment. White House social media director Dan Scavino was also a defendant. Twitter &lt;TWTR.N&gt; declined to comment.

Trump has made his @RealDonaldTrump account, which he opened in 2009, a central and controversial part of his presidency, using it to promote his agenda and to attack critics.

His blocking of critics was challenged by the Knight First Amendment Institute at Columbia University, as well as seven Twitter users he had blocked.

"The decision will help ensure the integrity and vitality of digital spaces that are increasingly important to our democracy," said Jameel Jaffer, Knight's executive director.

Tuesday's decision upheld a May 2018 ruling by US District Judge Naomi Reice Buchwald in Manhattan, which prompted Trump to unblock some accounts.

The Justice Department had called her ruling "fundamentally misconceived," saying Trump used Twitter to express his views, not to offer a public forum for discussion.

Parker, however, said Trump's account bears "all the trappings of an official, state-run account" and is "one of the White House's main vehicles for conducting official business."

He said Trump and his aides have characterized the president's tweets as official statements, and that even the National Archives considers them official records.

Parker also found it ironic that Trump censored speech at a time the conduct of the US government and its officials is subject to intense, passionate and wide-open debate.

"This debate, as uncomfortable and as unpleasant as it frequently may be, is nonetheless a good thing," he wrote. "We remind the litigants and the public that if the First Amendment means anything, it means that the best response to a disfavoured speech on matters of public concern is more speech, not less."

The case is Knight First Amendment Institute at Columbia University et al v Trump et al, 2nd US Circuit Court of Appeals, No. 18-1691.&nbsp;

US President Donald Trump violated the Constitution by blocking people whose views he disliked from his Twitter account, a federal appeals court ruled on Tuesday.

US President Donald Trump violated the Constitution by blocking people whose views he disliked from his Twitter account, a federal appeals court ruled on Tuesday. In a 3-0 decision, the 2nd US Circuit Court of Appeals in Manhattan said the First Amendment forbids Trump from using Twitter's "blocking" function to limit access to his account, which has 61.8 million followers. "The First Amendment does not permit a public official who utilizes a social media account for all manner of official purposes to exclude persons from an otherwise-open online dialogue because they expressed views with which the official disagrees," wrote Circuit Judge Barrington Parker, citing several Supreme Court decisions. Kelly Laco, a spokeswoman for the US Department of Justice, which argued the appeal, said: "We are disappointed with the court's decision and are exploring possible next steps." The White House declined to comment. White House social media director Dan Scavino was also a defendant. Twitter <TWTR.N> declined to comment. Trump has made his @RealDonaldTrump account, which he opened in 2009, a central and controversial part of his presidency, using it to promote his agenda and to attack critics. His blocking of critics was challenged by the Knight First Amendment Institute at Columbia University, as well as seven Twitter users he had blocked. "The decision will help ensure the integrity and vitality of digital spaces that are increasingly important to our democracy," said Jameel Jaffer, Knight's executive director. Tuesday's decision upheld a May 2018 ruling by US District Judge Naomi Reice Buchwald in Manhattan, which prompted Trump to unblock some accounts. The Justice Department had called her ruling "fundamentally misconceived," saying Trump used Twitter to express his views, not to offer a public forum for discussion. Parker, however, said Trump's account bears "all the trappings of an official, state-run account" and is "one of the White House's main vehicles for conducting official business." He said Trump and his aides have characterized the president's tweets as official statements, and that even the National Archives considers them official records. Parker also found it ironic that Trump censored speech at a time the conduct of the US government and its officials is subject to intense, passionate and wide-open debate. "This debate, as uncomfortable and as unpleasant as it frequently may be, is nonetheless a good thing," he wrote. "We remind the litigants and the public that if the First Amendment means anything, it means that the best response to a disfavoured speech on matters of public concern is more speech, not less." The case is Knight First Amendment Institute at Columbia University et al v Trump et al, 2nd US Circuit Court of Appeals, No. 18-1691.

Donald Trump's blocking of Twitter critics unconstitutional:  US appeals court

Asian shares pulled ahead on Wednesday while rising Treasury yields lifted the dollar as investors waited anxiously to hear if the world's most powerful central banker would confirm or confound expectations for US easing this month.

MSCI's broadest index of <a href="https://www.wionews.com/business-economy/asian-shares-fall-as-bets-off-on-sharp-us-rate-cuts-233889">Asia-Pacific shares</a> outside Japan advanced 0.4 per cent,&nbsp;after three sessions of losses.

South Korea edged up 0.4%, but Japan's Nikkei lagged with a loss of 0.1 per cent&nbsp;E-Mini futures for the S&amp;P 500 were flat, while EURO STOXX and FTSE futures pointed to small opening gains in Europe.

Chinese blue chips barely budged as data showed inflation remained stubbornly subdued despite a spike in pork prices.

A worrying lack of inflation globally is one reason investors are counting on Federal Reserve Chair Jerome Powell to sound suitably dovish when testifying to Congress on Wednesday.

Futures are still fully priced for a 25-basis-point cut at the Fed's July 30-31 meeting but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Friday's upbeat jobs report.

"We still think the odds favour a 25 bps 'insurance' cut," said Kevin Cummins, a senior US economist at NatWest Markets.

"The Fed's consideration of rate cuts is not only about growth but also about inflation, which remains well below target, and inflation expectations, which were breaking to the downside before the Fed signalled the likelihood of cuts."

Overnight, Atlanta Fed bank president Raphael Bostic let nothing out of the bag by saying the central bank was debating the risks and benefits of letting the US economy run "a little hotter."

Lurking in the background, the US and Chinese trade officials held "constructive" talks on trade by phone on Tuesday, White House economic adviser Larry Kudlow said.

Wall Street had been duly circumspect on Tuesday, with the Dow ending down 0.08%, while the S&amp;P 500 added 0.12% and the Nasdaq 0.54%.

A little More Yield

The cooling in US rate fever has seen bonds give back just a little of their huge rally, with yields on two-year Treasuries rising to 1.917% from the recent trough of 1.696%.

That, in turn, has helped the dollar bounce on a basket of currencies to 97.500 from a June low of 95.843.

The dollar also firmed to 108.90 yen, while the euro faded to $1.1206 having been as high as $1.1412 just a couple of weeks ago.

The Mexican peso was nursing a few bruises after sliding on Tuesday when the country's moderate Finance Minister Carlos Urzua suddenly resigned, citing "extremism" in economic policy.

The Canadian dollar was on the defensive ahead of a rate meeting by the Bank of Canada in case policymakers tried to slow the currency's recent rally.

The dollar's gains took the shine off gold, which eased 0.3 per cent to $1,393.68 per ounce.

Oil prices were supported by Middle East tensions and news that US stockpiles fell for a fourth week in a row, easing concerns about oversupply.

Brent crude futures rose 64 cents to $64.80, while US crude gained 82 cents to $58.65 a barrel.

Asian shares pulled ahead on Wednesday while rising Treasury yields lifted the dollar as investors waited anxiously to hear if the world's most powerful central banker would confirm or confound expectations for US easing this month.

Asian shares pulled ahead on Wednesday while rising Treasury yields lifted the dollar as investors waited anxiously to hear if the world's most powerful central banker would confirm or confound expectations for US easing this month. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4 per cent, after three sessions of losses. South Korea edged up 0.4%, but Japan's Nikkei lagged with a loss of 0.1 per cent E-Mini futures for the S&P 500 were flat, while EURO STOXX and FTSE futures pointed to small opening gains in Europe. Chinese blue chips barely budged as data showed inflation remained stubbornly subdued despite a spike in pork prices. A worrying lack of inflation globally is one reason investors are counting on Federal Reserve Chair Jerome Powell to sound suitably dovish when testifying to Congress on Wednesday. Futures are still fully priced for a 25-basis-point cut at the Fed's July 30-31 meeting but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Friday's upbeat jobs report. "We still think the odds favour a 25 bps 'insurance' cut," said Kevin Cummins, a senior US economist at NatWest Markets. "The Fed's consideration of rate cuts is not only about growth but also about inflation, which remains well below target, and inflation expectations, which were breaking to the downside before the Fed signalled the likelihood of cuts." Overnight, Atlanta Fed bank president Raphael Bostic let nothing out of the bag by saying the central bank was debating the risks and benefits of letting the US economy run "a little hotter." Lurking in the background, the US and Chinese trade officials held "constructive" talks on trade by phone on Tuesday, White House economic adviser Larry Kudlow said. Wall Street had been duly circumspect on Tuesday, with the Dow ending down 0.08%, while the S&P 500 added 0.12% and the Nasdaq 0.54%. A little More Yield The cooling in US rate fever has seen bonds give back just a little of their huge rally, with yields on two-year Treasuries rising to 1.917% from the recent trough of 1.696%. That, in turn, has helped the dollar bounce on a basket of currencies to 97.500 from a June low of 95.843. The dollar also firmed to 108.90 yen, while the euro faded to $1.1206 having been as high as $1.1412 just a couple of weeks ago. The Mexican peso was nursing a few bruises after sliding on Tuesday when the country's moderate Finance Minister Carlos Urzua suddenly resigned, citing "extremism" in economic policy. The Canadian dollar was on the defensive ahead of a rate meeting by the Bank of Canada in case policymakers tried to slow the currency's recent rally. The dollar's gains took the shine off gold, which eased 0.3 per cent to $1,393.68 per ounce. Oil prices were supported by Middle East tensions and news that US stockpiles fell for a fourth week in a row, easing concerns about oversupply. Brent crude futures rose 64 cents to $64.80, while US crude gained 82 cents to $58.65 a barrel.

Asia shares rise as US dollar moves up

The United States and China have reached a truce in their escalating trade war. Following a meeting between US president, Donald Trump and his Chinese counterpart, Xi Jinping at the G20, the two leaders agreed to renew talks. Tariffs, which began to be introduced by both sides on an array of imports in 2018, will not be raised further.

But a number of tariffs remain and trade relations are still far from normal between the world’s two largest economies. This may not be a cold war. But it is a great power rivalry focusing on technological supremacy and which side has the best development model.

China’s economy is slowing down and recent tariffs from the US on its exports have not helped. China’s growth rate declined from 6.6 per cent&nbsp;in 2018 to 6.4 per cent in the first quarter of 2019. But in the long term, the pressure exerted by Trump’s administration will strengthen China. It will help China speed up its efforts to restructure its economy, focus more on innovation, and also boost the country’s national pride.

Technological advancements are central to empire building and the rise of new powers, with steam power and then electronic technologies driving previous British and American empires. The fourth industrial revolution will shift international competition away from labour, territory, nuclear arms, and soft power to new technology including robotics, artificial intelligence (AI), and wireless services.

Wake up call

Until recently, US policymakers operated under the assumption that the US was the world’s technological superpower and Silicon Valley was the globe’s innovation hotbed. China was regarded as a copycat that builds clumsy clones of American technologies or uses its big state-owned enterprises to purchase innovative US companies and absorb their intellectual property and know-how.

But when it comes to 5G – the next generation of superfast internet technology – the US has lagged behind. No American company has comparable wireless equipment to Huawei. This spurred Trump to wage war on the Chinese tech company. First he declared a national emergency, banning sales and the use of telecoms equipment deemed to pose “unacceptable risks”. Then he lobbied allies to do the same.

US-based companies followed suit. First, Google removed Huawei from its Android service, then the Wi-Fi Alliance, Bluetooth, and others followed suit.

Huawei’s 5G capabilities and the fallout from them can be seen as China’s Sputnik moment. In the same way the Soviet Union was the first to launch a satellite into space, creating the appearance that the Soviets were winning the engineering challenge of the day, China is outpacing other countries in the development of 5G today. China realises the dangers of technological dependence, economic entanglement, and scientific reliance on the US.

Innovation revolution

Huawei is a product of the Chinese government’s industrial policy strategy. The vision to move up the economic value chain from a low-end manufacturer to a global innovation leader led to the launch of its Made In China 2025 initiative and an Artificial Intelligence Development Plan to channel resources into strategic sectors such as computing, AI, robotics, and aerospace.

China aims to achieve an AI self-sufficiency manufacturing rate of 80 per cent, minimising its dependence on other countries for the complex parts needed in this tech. It also aims to become a leading technology hub in AI by 2030. This is bearing fruit, as in 2017, 48 per cent of global AI funding was Chinese compared to 38% being American. Chinese AI company iFlyTek often beats Facebook, Alphabet’s DeepMind, and IBM’s Watson in competitions to process natural speech, even in its “second language” English.

China is now the world’s biggest producer of scientific research papers and Semantic Scholar, the academic search engine for scientific articles, suggests Chinese scholars have surpassed their US counterparts in producing AI papers.

So the Huawei ban and tariffs on Chinese goods will not slow China – they will stimulate its new innovation system and boost scientific research aimed at becoming more independent.

Domestic boost 
 
Another consequence will be an acceleration of China’s attempt to rebalance its economy away from external demand and investment towards domestic consumption. This started in 2008 with the global financial crisis and has become increasingly necessary as China’s middle class develops. Since then large-scale government-led infrastructure investments, measures to increase household income, reductions of income tax, and improvements to social welfare systems have helped grow domestic consumption.

When Trump first announced tariffs in 2018, China’s domestic consumption was responsible for 76.2 per cent of its GDP growth, and the Chinese stock market absorbed the impact and bounced back after an initial sharp decline. Since then, the Chinese government has introduced new policies to boost domestic consumption further, including more tax cuts, improved childcare, and elderly care initiatives and incentives. So the trade war has helped China’s efforts to redistribute wealth and restructure its economy.

The trade war has also rallied the Chinese public around its government. US treatment of Chinese companies has been perceived as bullying and people have compared it to the way that the British Empire forced unfair trade practices on China in the 19th century. This topic is incredibly emotive in Chinese society and has boosted domestic support for the government.

The Chinese word for crisis is composed of two characters – one for danger and the other for opportunity. The country’s ability to capitalise on the current challenge from the US will strengthen it for years to come. 
 
(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/us-china-trade-war-is-making-china-stronger-118852">original article)</a>

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp;

 
&nbsp;

The United States and China have reached a truce in their escalating trade war. Following a meeting between US president, Donald Trump and his Chinese counterpart, Xi Jinping at the G20, the two leaders agreed to renew talks.

The United States and China have reached a truce in their escalating trade war. Following a meeting between US president, Donald Trump and his Chinese counterpart, Xi Jinping at the G20, the two leaders agreed to renew talks. Tariffs, which began to be introduced by both sides on an array of imports in 2018, will not be raised further. But a number of tariffs remain and trade relations are still far from normal between the world’s two largest economies. This may not be a cold war. But it is a great power rivalry focusing on technological supremacy and which side has the best development model. China’s economy is slowing down and recent tariffs from the US on its exports have not helped. China’s growth rate declined from 6.6 per cent in 2018 to 6.4 per cent in the first quarter of 2019. But in the long term, the pressure exerted by Trump’s administration will strengthen China. It will help China speed up its efforts to restructure its economy, focus more on innovation, and also boost the country’s national pride. Technological advancements are central to empire building and the rise of new powers, with steam power and then electronic technologies driving previous British and American empires. The fourth industrial revolution will shift international competition away from labour, territory, nuclear arms, and soft power to new technology including robotics, artificial intelligence (AI), and wireless services. Wake up call Until recently, US policymakers operated under the assumption that the US was the world’s technological superpower and Silicon Valley was the globe’s innovation hotbed. China was regarded as a copycat that builds clumsy clones of American technologies or uses its big state-owned enterprises to purchase innovative US companies and absorb their intellectual property and know-how. But when it comes to 5G – the next generation of superfast internet technology – the US has lagged behind. No American company has comparable wireless equipment to Huawei. This spurred Trump to wage war on the Chinese tech company. First he declared a national emergency, banning sales and the use of telecoms equipment deemed to pose “unacceptable risks”. Then he lobbied allies to do the same. US-based companies followed suit. First, Google removed Huawei from its Android service, then the Wi-Fi Alliance, Bluetooth, and others followed suit. Huawei’s 5G capabilities and the fallout from them can be seen as China’s Sputnik moment. In the same way the Soviet Union was the first to launch a satellite into space, creating the appearance that the Soviets were winning the engineering challenge of the day, China is outpacing other countries in the development of 5G today. China realises the dangers of technological dependence, economic entanglement, and scientific reliance on the US. Innovation revolution Huawei is a product of the Chinese government’s industrial policy strategy. The vision to move up the economic value chain from a low-end manufacturer to a global innovation leader led to the launch of its Made In China 2025 initiative and an Artificial Intelligence Development Plan to channel resources into strategic sectors such as computing, AI, robotics, and aerospace. China aims to achieve an AI self-sufficiency manufacturing rate of 80 per cent, minimising its dependence on other countries for the complex parts needed in this tech. It also aims to become a leading technology hub in AI by 2030. This is bearing fruit, as in 2017, 48 per cent of global AI funding was Chinese compared to 38% being American. Chinese AI company iFlyTek often beats Facebook, Alphabet’s DeepMind, and IBM’s Watson in competitions to process natural speech, even in its “second language” English. China is now the world’s biggest producer of scientific research papers and Semantic Scholar, the academic search engine for scientific articles, suggests Chinese scholars have surpassed their US counterparts in producing AI papers. So the Huawei ban and tariffs on Chinese goods will not slow China – they will stimulate its new innovation system and boost scientific research aimed at becoming more independent. Domestic boost Another consequence will be an acceleration of China’s attempt to rebalance its economy away from external demand and investment towards domestic consumption. This started in 2008 with the global financial crisis and has become increasingly necessary as China’s middle class develops. Since then large-scale government-led infrastructure investments, measures to increase household income, reductions of income tax, and improvements to social welfare systems have helped grow domestic consumption. When Trump first announced tariffs in 2018, China’s domestic consumption was responsible for 76.2 per cent of its GDP growth, and the Chinese stock market absorbed the impact and bounced back after an initial sharp decline. Since then, the Chinese government has introduced new policies to boost domestic consumption further, including more tax cuts, improved childcare, and elderly care initiatives and incentives. So the trade war has helped China’s efforts to redistribute wealth and restructure its economy. The trade war has also rallied the Chinese public around its government. US treatment of Chinese companies has been perceived as bullying and people have compared it to the way that the British Empire forced unfair trade practices on China in the 19th century. This topic is incredibly emotive in Chinese society and has boosted domestic support for the government. The Chinese word for crisis is composed of two characters – one for danger and the other for opportunity. The country’s ability to capitalise on the current challenge from the US will strengthen it for years to come. (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

US-China trade war is making China stronger

US President Donald Trump accused Iran on Wednesday of secretly <a href="https://www.wionews.com/world/trump-vows-new-iran-sanctions-tehran-warns-us-against-attack-229649">enriching uranium </a>for a long time and warned that US sanctions will be increased soon, as the UN nuclear watchdog held an emergency meeting on Tehran's breach of a nuclear deal.

"Iran has long been secretly 'enriching,' in total violation of the terrible 150 Billion Dollar deal made by John Kerry and the Obama Administration. Remember, that deal was to expire in a short number of years. Sanctions will soon be increased, substantially!" Trump said on Twitter.

The United States used an emergency meeting of the UN International Atomic Energy Agency's board on Wednesday to pressure Iran over breaches of the 2015 international nuclear deal, accusing it of extortion and pledging to continue sanctions while still offering to hold talks.

In the past two weeks Iran has breached two limits central to the <a href="https://www.wionews.com/world/we-are-putting-additional-sanctions-on-iran-says-trump-military-action-still-on-table-229601">2015 nuclear deal</a>, which aimed to extended the time Iran would need to obtain enough fissile material for a nuclear weapon. President Hassan Rouhani said on Wednesday that Iran’s measures were within the framework of the deal, which Trump pulled the United States out of last year.

Washington, meanwhile, is set on isolating Iran to force it to negotiate over the nuclear pact, its missile program and its actions in the region.

US President Donald Trump accused Iran on Wednesday of secretly enriching uranium for a long time and warned that US sanctions will be increased soon, as the UN nuclear watchdog held an emergency meeting on Tehran's breach of a nuclear deal.

US President Donald Trump accused Iran on Wednesday of secretly enriching uranium for a long time and warned that US sanctions will be increased soon, as the UN nuclear watchdog held an emergency meeting on Tehran's breach of a nuclear deal. "Iran has long been secretly 'enriching,' in total violation of the terrible 150 Billion Dollar deal made by John Kerry and the Obama Administration. Remember, that deal was to expire in a short number of years. Sanctions will soon be increased, substantially!" Trump said on Twitter. The United States used an emergency meeting of the UN International Atomic Energy Agency's board on Wednesday to pressure Iran over breaches of the 2015 international nuclear deal, accusing it of extortion and pledging to continue sanctions while still offering to hold talks. In the past two weeks Iran has breached two limits central to the 2015 nuclear deal, which aimed to extended the time Iran would need to obtain enough fissile material for a nuclear weapon. President Hassan Rouhani said on Wednesday that Iran’s measures were within the framework of the deal, which Trump pulled the United States out of last year. Washington, meanwhile, is set on isolating Iran to force it to negotiate over the nuclear pact, its missile program and its actions in the region.

Sanctions on Iran 'will soon be increased, substantially', says US President Trump

Are Trump's Tariff Moves Backfiring? U.S. President Trump continues to wage tariff wars against India, says that India has been having a field day imposing retaliatory tariffs on U.S. products. In fact, India's retaliatory tariffs are taking a toll of America's almond farmers. Is American economy suffering due to Trump's protectionist stance? Here's a report

Gravitas: India's retaliatory tariffs on the US hurt almonds farmers in America

U.S. President Trump continues to wage tariff wars against India, says that India has been having a field day imposing retaliatory tariffs on U.S. products. In fact, India's retaliatory tariffs are taking a toll of America's almond farmers. Watch this video to know more on the story.

Donald Trump targets India, hurts own farmers

donald-trump

Donald Trump, News on Donald Trump, stories on Donald Trump, articles on Donald Trump, Donald Trump stories at Wion, Donald Trump news, Donald Trump latest news

donald trump