Italy's new government allowed a French <a href="https://www.wionews.com/world/charity-ship-seeks-port-for-356-rescued-migrants-in-the-mediterranean-244622">charity ship</a> to head to the island of Lampedusa on Saturday and bring ashore some 82 migrants, reversing the uncompromising, closed-door policy of the previous administration.

The Ocean Viking, run by <a href="https://www.wionews.com/world/spain-sends-warship-to-pick-up-migrants-off-italys-coast-244491">French charities SOS</a> Mediterranee and Doctors Without Borders (MSF), said on Twitter it had received the green light to sail to Lampedusa, six days after it carried out its first rescue off the coast of Libya.

"The Italian authorities have just offered Ocean Viking a place of safety," MSF said. Local officials confirmed the news.

Italy's government formally took office on Tuesday, promising a new approach to migration following the hardline clampdown on rescue ships introduced by the former interior minister, Matteo Salvini, who heads the far-right League.

Prime Minister Giuseppe Conte said on Thursday that "several EU countries" had agreed to take in the Africans aboard the Ocean Viking, but did not give further details and did not immediately let Ocean Viking enter Italian waters.

"We needed a bit of time, but Ocean Viking has finally been assigned a safe port. Small signs of discontinuity," said Matteo Orfini, a senior member of the centre-left Democratic Party (PD) which has replaced the League within the ruling coalition.

Salvini's tough line on immigration fuelled the popularity of his League party, which pulled out of its coalition with the 5-Star Movement last month in a vain attempt to trigger new elections.

During his 14 months at the interior ministry, he introduced new security decrees barring rescue ships from entering Italian waters, saying Italy had borne too much responsibility for handling African migration to Europe.

Ships that defied the decrees risked being impounded and were threatened with fines of up to a million euros ($1.1 million).

Italy's new government allowed a French charity ship to head to the island of Lampedusa on Saturday and bring ashore some 82 migrants, reversing the uncompromising, closed-door policy of the previous administration.

Italy's new government allowed a French charity ship to head to the island of Lampedusa on Saturday and bring ashore some 82 migrants, reversing the uncompromising, closed-door policy of the previous administration. The Ocean Viking, run by French charities SOS Mediterranee and Doctors Without Borders (MSF), said on Twitter it had received the green light to sail to Lampedusa, six days after it carried out its first rescue off the coast of Libya. "The Italian authorities have just offered Ocean Viking a place of safety," MSF said. Local officials confirmed the news. Italy's government formally took office on Tuesday, promising a new approach to migration following the hardline clampdown on rescue ships introduced by the former interior minister, Matteo Salvini, who heads the far-right League. Prime Minister Giuseppe Conte said on Thursday that "several EU countries" had agreed to take in the Africans aboard the Ocean Viking, but did not give further details and did not immediately let Ocean Viking enter Italian waters. "We needed a bit of time, but Ocean Viking has finally been assigned a safe port. Small signs of discontinuity," said Matteo Orfini, a senior member of the centre-left Democratic Party (PD) which has replaced the League within the ruling coalition. Salvini's tough line on immigration fuelled the popularity of his League party, which pulled out of its coalition with the 5-Star Movement last month in a vain attempt to trigger new elections. During his 14 months at the interior ministry, he introduced new security decrees barring rescue ships from entering Italian waters, saying Italy had borne too much responsibility for handling African migration to Europe. Ships that defied the decrees risked being impounded and were threatened with fines of up to a million euros ($1.1 million).

In break with past, Rome lets charity ship head to Italian port

India's overall fuel demand will rise by more than 4% a year to 2030 as the country's improved road transport network stokes demand for gas oil, the head of oil and gas group Nayara Energy said on Tuesday.

Chief executive B&nbsp;Anand said he expects India's fuel demand to grow 4.7% a year to 5.5 million barrels per day (bpd) through fiscal year 2025, and then 4% per year to 6.6 million bpd through 2030.

Demand for gas oil will rise by an average 5.3% per year through the 2025 fiscal year and by an average 4.5% through 2030, he told the Asia Pacific Petroleum Conference in Singapore.

India would continue to rely mainly on road transport to move freight around the country, while the number of passenger cars would steadily increase in coming years with rising vehicle ownership, Anand said.

Gasoline and gas oil will continue to benefit from rising car sales and stronger manufacturing industry, but faster than expected penetration of electric vehicles could pose a risk to demand growth, he added.

While the share of renewables, including solar, wind and natural gas, was likely to increase in the next 10 years, absolute oil demand would still rise strongly over the next decade, he said.

Nayara, which operates a 400,000-bpd refinery in western India, is capable of producing new low-sulphur specifications for marine fuels starting in 2020, Anand said.

The refiner, which procures 85% of its crude requirement from international markets, usually looks for so-called heavy crude oil grades from Europe, West Africa, Latin America and also Canada.

Nayara, however, hasn't yet sourced any of its crude oil from the United States, Anand said, "For us, it has to be the economics that has to be right."

India's overall fuel demand will rise by more than 4% a year to 2030 as the country's improved road transport network stokes demand for gas oil, the head of oil and gas group Nayara Energy said on Tuesday.

India's overall fuel demand will rise by more than 4% a year to 2030 as the country's improved road transport network stokes demand for gas oil, the head of oil and gas group Nayara Energy said on Tuesday. Chief executive B Anand said he expects India's fuel demand to grow 4.7% a year to 5.5 million barrels per day (bpd) through fiscal year 2025, and then 4% per year to 6.6 million bpd through 2030. Demand for gas oil will rise by an average 5.3% per year through the 2025 fiscal year and by an average 4.5% through 2030, he told the Asia Pacific Petroleum Conference in Singapore. India would continue to rely mainly on road transport to move freight around the country, while the number of passenger cars would steadily increase in coming years with rising vehicle ownership, Anand said. Gasoline and gas oil will continue to benefit from rising car sales and stronger manufacturing industry, but faster than expected penetration of electric vehicles could pose a risk to demand growth, he added. While the share of renewables, including solar, wind and natural gas, was likely to increase in the next 10 years, absolute oil demand would still rise strongly over the next decade, he said. Nayara, which operates a 400,000-bpd refinery in western India, is capable of producing new low-sulphur specifications for marine fuels starting in 2020, Anand said. The refiner, which procures 85% of its crude requirement from international markets, usually looks for so-called heavy crude oil grades from Europe, West Africa, Latin America and also Canada. Nayara, however, hasn't yet sourced any of its crude oil from the United States, Anand said, "For us, it has to be the economics that has to be right."

India's fuel demand to grow at over 4% through 2030: Report

Now, Bolsonaro won't use French Bic ballpoint pens made in Brazil

76 young musicians scattered across Palestine who come together to delight the audiences in Europe on the notes of the major classical composers of all times. And the musicians' excitement was palpable.

A Palestinian musical delight in Europe

President Jair Bolsonaro said Friday that Europe has "nothing to teach" Brazil about preserving the environment, as data showed thousands of new fires were ignited on the first day of a ban on burning.&nbsp;

The far-right leader's comments are likely to fuel a diplomatic row between Brazil and Europe over the worst fires in years in the Amazon basin. Offers have come in from overseas to help put them out.&nbsp;

It comes as a Brazilian delegation, which includes Bolsonaro's third son and hopeful ambassador to the United States, is set to meet with senior US administration officials at the White House on Friday after President Donald Trump offered to assist with the Amazon crisis.&nbsp;

Bolsonaro has accused Germany and France of "buying" Brazil's sovereignty after the G7 offered $20 million in Amazon fire aid and he initially rejected the money unless his French counterpart Emmanuel Macron withdrew insults made against him. &nbsp;

Bolsonaro later said Brazil would accept bilateral aid to fight the fires but has insisted the Latin American country must control the money.

The Brazilian president told reporters he would talk to German Chancellor Angela Merkel, without specifying when, and repeated a demand that "our dear Macron" retract remarks relating to Brazil's sovereignty of the Amazon before he would speak to him.&nbsp;

"Europe has nothing to teach us about preserving the environment," Bolsonaro said, reiterating his plan for "sustainable exploitation" of the Amazon.

"It will happen," he added.

The visit by Bolsonaro's son Eduardo and Foreign Minister Ernesto Araujo to Washington was to thank Trump for his support during the crisis over the Amazon fires, the Brazilian leader said Thursday.

A senior US administration official said the men would visit the White House. There was no confirmation they would meet with Trump.

More fires

On the eve of the G7 summit last week, Macron declared the forest fires, which are also affecting Bolivia, an "international crisis" and put it on the agenda of the gathering of the rich democracies.&nbsp;

Macron also accused Bolsonaro of lying to him about Brazil's climate change stance.

Bolsonaro reacted furiously, accusing Macron of having a "colonialist mentality."&nbsp;

Under growing pressure to do more, Bolsonaro issued a nationwide 60-day ban on burning that took effect Thursday.&nbsp;

Activists quickly doused hopes that the prohibition would work in the remote Amazon region where deforestation has surged this year as agencies tasked with monitoring illegal activities were weakened.&nbsp;

On the same day, as the ban took effect, 2,300 new fires were detected -- most of them in the Amazon basin -- taking the total number for this year to 87,257, the latest figures from the National Institute for Space Research show.

Nearly 1,500 of the new fires were in the vast Amazon basin.&nbsp;

This year's total is the highest since 2010 when 132,106 fires were detected across the country.

Para was the hardest hit state on Thursday, with 587 new blazes -- up 67 per cent from the previous day.

Some 464 fires were started in Mato Grosso, a rise of 274 per cent.&nbsp;

In Rondonia, where firefighting efforts were initially concentrated, 67 new fires were registered, nearly three times the previous day. &nbsp;

Police on Thursday arrested three people for burning more than 5,000 hectares (12,350 acres) in a conservation area in Para.&nbsp;

Thousands of troops and firefighters have been deployed since the weekend to combat the fires, along with two C-130 Hercules and other aircraft that are dumping water over affected areas in the country's north.

The defence ministry says the fires are under control.&nbsp;

Bolsonaro claimed in a live broadcast on Facebook on Thursday that "this year's fires are below the average of recent years."

President Jair Bolsonaro said Friday that Europe has "nothing to teach" Brazil about preserving the environment, as data showed thousands of new fires were ignited on the first day of a ban on burning.

President Jair Bolsonaro said Friday that Europe has "nothing to teach" Brazil about preserving the environment, as data showed thousands of new fires were ignited on the first day of a ban on burning. The far-right leader's comments are likely to fuel a diplomatic row between Brazil and Europe over the worst fires in years in the Amazon basin. Offers have come in from overseas to help put them out. It comes as a Brazilian delegation, which includes Bolsonaro's third son and hopeful ambassador to the United States, is set to meet with senior US administration officials at the White House on Friday after President Donald Trump offered to assist with the Amazon crisis. Bolsonaro has accused Germany and France of "buying" Brazil's sovereignty after the G7 offered $20 million in Amazon fire aid and he initially rejected the money unless his French counterpart Emmanuel Macron withdrew insults made against him. Bolsonaro later said Brazil would accept bilateral aid to fight the fires but has insisted the Latin American country must control the money. The Brazilian president told reporters he would talk to German Chancellor Angela Merkel, without specifying when, and repeated a demand that "our dear Macron" retract remarks relating to Brazil's sovereignty of the Amazon before he would speak to him. "Europe has nothing to teach us about preserving the environment," Bolsonaro said, reiterating his plan for "sustainable exploitation" of the Amazon. "It will happen," he added. The visit by Bolsonaro's son Eduardo and Foreign Minister Ernesto Araujo to Washington was to thank Trump for his support during the crisis over the Amazon fires, the Brazilian leader said Thursday. A senior US administration official said the men would visit the White House. There was no confirmation they would meet with Trump. More fires On the eve of the G7 summit last week, Macron declared the forest fires, which are also affecting Bolivia, an "international crisis" and put it on the agenda of the gathering of the rich democracies. Macron also accused Bolsonaro of lying to him about Brazil's climate change stance. Bolsonaro reacted furiously, accusing Macron of having a "colonialist mentality." Under growing pressure to do more, Bolsonaro issued a nationwide 60-day ban on burning that took effect Thursday. Activists quickly doused hopes that the prohibition would work in the remote Amazon region where deforestation has surged this year as agencies tasked with monitoring illegal activities were weakened. On the same day, as the ban took effect, 2,300 new fires were detected -- most of them in the Amazon basin -- taking the total number for this year to 87,257, the latest figures from the National Institute for Space Research show. Nearly 1,500 of the new fires were in the vast Amazon basin. This year's total is the highest since 2010 when 132,106 fires were detected across the country. Para was the hardest hit state on Thursday, with 587 new blazes -- up 67 per cent from the previous day. Some 464 fires were started in Mato Grosso, a rise of 274 per cent. In Rondonia, where firefighting efforts were initially concentrated, 67 new fires were registered, nearly three times the previous day. Police on Thursday arrested three people for burning more than 5,000 hectares (12,350 acres) in a conservation area in Para. Thousands of troops and firefighters have been deployed since the weekend to combat the fires, along with two C-130 Hercules and other aircraft that are dumping water over affected areas in the country's north. The defence ministry says the fires are under control. Bolsonaro claimed in a live broadcast on Facebook on Thursday that "this year's fires are below the average of recent years."

'Europe has nothing to teach Brazil about preserving environment,' says Bolsonaro as Amazon fires soar

European countries will step up diplomatic efforts to save the beleaguered <a href="https://www.wionews.com/world/honour-nuclear-deal-and-stop-economic-terrorism-if-you-want-talks-iran-tells-us-246335">Iran nuclear deal</a>, Germany's foreign minister said Friday after talks with Britain and France.&nbsp;

Tensions have spiked recently in the Gulf, where <a href="https://www.wionews.com/world/iran-tanker-switches-course-again-heads-to-turkey-ship-tracking-data-246610">Iran has seized Western tankers</a> as Tehran and Washington have locked horns over the 2015 deal.

US President Donald Trump last year unilaterally pulled out of the accord that handed Iran relief from sanctions in return for curbs on its atomic programme.

The move alarmed European powers, which see the deal as the best way to stop Iran acquiring nuclear weapons, and infuriated the Islamic republic.

The foreign ministers of Britain, France and Germany -- the three European parties to the deal -- were joined by EU diplomatic chief Federica Mogherini for talks on the sidelines of an EU meeting in Helsinki.

Germany's Heiko Maas said the trio wanted to build on the momentum from last weekend's G7 summit, where Trump indicated a willingness to talk to Iran.

"Our priority is to open the dialogue window between the US and Iran," Maas told reporters.

"Especially after the G7 summit in Biarritz we are all of the opinions that the momentum that perhaps exists, the readiness for dialogue on both sides... must now be used."

Mogherini said Thursday the EU would support such a move -- provided the current deal was preserved.&nbsp;

The Europeans have repeatedly said they are committed to saving the deal, but efforts to shield Iran's economy from the reimposition of US sanctions have so far borne little fruit.

"We will be discussing further diplomatic efforts together with the French and the British -- including in the region with all the countries bordering the Gulf," Maas said.

'Build on momentum'

Ahead of the meeting, British foreign minister Dominic Raab also said he wanted to "build on the momentum of the positive G7 talks on Iran".

As well as mooting the summit with his Iranian counterpart Hassan Rouhani, Trump also appeared open to a French suggestion that Iran be given a line of credit to help stabilise its economy.

"The nuclear deal is the only deal on the table that prevents Iran from getting a nuclear weapon and we will continue working together to encourage Iran to uphold the agreement in full," Raab said.

"We also need the broadest international support possible to tackle the threats to international shipping in the Strait of Hormuz."

Britain, along with Australia and Bahrain, has joined Washington's Operation Sentinel mission to protect commercial shipping on the crucial oil trade routes through the Gulf, in particular, the Strait of Hormuz.

Other European countries have been cool on the idea, fearing greater naval presence in the region could risk escalating an already febrile situation.

The idea has been floated of a European observation mission in the Strait, a strategic chokepoint at the mouth of the Gulf, but a number of EU countries have voiced reservations.

Maas said there were still "different views" and stressed nothing should be done that might imperil diplomatic efforts.

Mogherini on Thursday gave a cautious welcome to the idea of US-Iran talks but stressed "first and foremost what is existing needs to be preserved" -- including the 2015 deal.

In response to the US pulling out of the deal and reimposing sanctions, Tehran has breached certain limits on its nuclear production imposed by the accord, but the EU insists it has so far not taken any irreversible steps.

European countries will step up diplomatic efforts to save the beleaguered Iran nuclear deal, Germany's foreign minister said Friday after talks with Britain and France.

European countries will step up diplomatic efforts to save the beleaguered Iran nuclear deal, Germany's foreign minister said Friday after talks with Britain and France. Tensions have spiked recently in the Gulf, where Iran has seized Western tankers as Tehran and Washington have locked horns over the 2015 deal. US President Donald Trump last year unilaterally pulled out of the accord that handed Iran relief from sanctions in return for curbs on its atomic programme. The move alarmed European powers, which see the deal as the best way to stop Iran acquiring nuclear weapons, and infuriated the Islamic republic. The foreign ministers of Britain, France and Germany -- the three European parties to the deal -- were joined by EU diplomatic chief Federica Mogherini for talks on the sidelines of an EU meeting in Helsinki. Germany's Heiko Maas said the trio wanted to build on the momentum from last weekend's G7 summit, where Trump indicated a willingness to talk to Iran. "Our priority is to open the dialogue window between the US and Iran," Maas told reporters. "Especially after the G7 summit in Biarritz we are all of the opinions that the momentum that perhaps exists, the readiness for dialogue on both sides... must now be used." Mogherini said Thursday the EU would support such a move -- provided the current deal was preserved. The Europeans have repeatedly said they are committed to saving the deal, but efforts to shield Iran's economy from the reimposition of US sanctions have so far borne little fruit. "We will be discussing further diplomatic efforts together with the French and the British -- including in the region with all the countries bordering the Gulf," Maas said. 'Build on momentum' Ahead of the meeting, British foreign minister Dominic Raab also said he wanted to "build on the momentum of the positive G7 talks on Iran". As well as mooting the summit with his Iranian counterpart Hassan Rouhani, Trump also appeared open to a French suggestion that Iran be given a line of credit to help stabilise its economy. "The nuclear deal is the only deal on the table that prevents Iran from getting a nuclear weapon and we will continue working together to encourage Iran to uphold the agreement in full," Raab said. "We also need the broadest international support possible to tackle the threats to international shipping in the Strait of Hormuz." Britain, along with Australia and Bahrain, has joined Washington's Operation Sentinel mission to protect commercial shipping on the crucial oil trade routes through the Gulf, in particular, the Strait of Hormuz. Other European countries have been cool on the idea, fearing greater naval presence in the region could risk escalating an already febrile situation. The idea has been floated of a European observation mission in the Strait, a strategic chokepoint at the mouth of the Gulf, but a number of EU countries have voiced reservations. Maas said there were still "different views" and stressed nothing should be done that might imperil diplomatic efforts. Mogherini on Thursday gave a cautious welcome to the idea of US-Iran talks but stressed "first and foremost what is existing needs to be preserved" -- including the 2015 deal. In response to the US pulling out of the deal and reimposing sanctions, Tehran has breached certain limits on its nuclear production imposed by the accord, but the EU insists it has so far not taken any irreversible steps.

Europe to step up diplomatic efforts on Iran crisis: Germany

Can power napping solve an electric car charging challenge?

Two charities running rescue missions in the Mediterranean Sea have said Italy has ignored requests to allow their ship to bring 356 migrants ashore, exposing Europe's latest failure to deal with African migration.

Two charities running rescue missions in the Mediterranean Sea have said Italy has ignored requests to allow their ship to bring 356 migrants ashore, exposing Europe's latest failure to deal with African migration. The Norwegian-flagged ship, Ocean Viking, already stranded at sea for 13 days awaiting port access, has been denied entry by Malta and its two requests to Italian authorities have gone unanswered, they said. The ship is carrying mostly Africans from Sudan, plucked from the sea in four separate missions. They include more than 100 minors, around 90 of them unaccompanied, Médecins Sans Frontières (MSF) said. Three children are under the age of five. The plight of the Ocean Viking, run by MSF and another French charity, SOS Méditerranée, threatens to create another migration standoff with Italy if it chooses to head there, after weeks of controversy involving another charity-run rescue ship. Around 100 migrants were stranded off Italy for almost three weeks on the Open Arms until a prosecutor intervened and ordered them brought ashore against Interior Minister Matteo Salvini's wishes. Five of Italy's EU partners will take them in. "This is shameful," said Jay Berger, project coordinator for MSF, speaking by satellite phone from the Ocean Viking, in international waters between Malta and the southern Italian island of Linosa. "Leaving migrants on rescue boats for weeks until the crisis becomes an emergency is becoming the new norm," he said. "We're not trying to force our way into Italian or Maltese waters. We're waiting for a solution but it is taking too long." The ship requested port access to Italian authorities on Aug. 9 and Aug. 12, the charities said. An Italian Transport Ministry spokesman declined to comment. Italy's Foreign Ministry did not respond immediately to an email seeking comment. Rome has banned entry to private rescue ships, which operate off Libya in international waters close to Italy. Salvini calls them "taxis" for people-smugglers and says Italy should not be "Europe's refugee camp". SUPPLIES RUNNING DOWN Aboard the Ocean Viking, supplies are running down and the crew has begun to ration showers to conserve water, said Frédéric Penard, SOS Mediterranee's director of operations. "A rescue ship is like an ambulance. People should be transported but not living on it," MSF's Berger said, adding that there was no certainty those on board could endure the wait Open Arms experienced, which would mean another week at sea. The European Commission has invited EU member states to show more "solidarity" and agree to take in migrants aboard the Ocean Viking, a spokeswoman said on Wednesday. No port except for Tripoli has welcomed the ship, the charities say. They regard the Libyan port as unsafe and fear the migrants would be thrown into detention centres and suffer human rights abuses if returned to the country. Luca Pigozzi, a doctor on board, said that while most migrants were in a stable physical condition, he feared the impact of psychological damage caused by violence suffered when fleeing their home country. "The situation on board is becoming tenser," he said. Libya is a hub for migrants and refugees, many of whom try to reach Europe in unseaworthy boats, fleeing violence and dire poverty in Africa for a better life in Europe. So far this year, more than 600 people have died trying to make the crossing. Malta turned down the Ocean Viking requests saying it could not take the lead on any disembarkment. A Malta government spokesman said there was "no new update" on the OceanViking and declined to comment further. French Interior Minister Christophe Castaner has said Paris is ready to take in 40 people from Ocean Viking. "Talks are underway with our European partners and I discussed the matter yesterday with my counterpart in Malta," he said on Twitter. Norway, where the Ocean Viking is registered, has rejected a French request to take some of the migrants, Justice Minister Joeran Kallmyr told broadcaster NRK late on Tuesday.

Rescue ship awaits port access in migrant standoff in Mediterranean

Europe heatwave: July 2019 is the hottest ever month, Temperature records tumbled across Europe during late July's heatwave Watch video to know more.

Europe heatwave: July 2019 is the hottest ever month

July 2019 temperatures were the hottest ever recorded globally, the US National Oceanic and Atmospheric Administration (NOAA) said Thursday, while satellite data showed polar ice shrank to its lowest levels.

July 2019 temperatures were the hottest ever recorded globally, the US National Oceanic and Atmospheric Administration (NOAA) said Thursday, while satellite data showed polar ice shrank to its lowest levels. According to the NOAA, the average global temperature for the month was 0.95 degrees Celsius (1.71 degrees Fahrenheit) above the 20th century average of 15.8 degrees Celsius (60.4 Fahrenheit), making it the hottest July in its records, which go back to 1880. "Much of the planet sweltered in unprecedented heat in July, as temperatures soared to new heights in the hottest month ever recorded. The record warmth also shrank Arctic and Antarctic sea ice to historic lows," the agency said. The findings confirmed data released by the EU's Copernicus Climate Change Service on August 5, though the margin of the new record compared to the last, on July 2016, was greater according to the US data. Searing heat waves saw records tumble across Europe last month, while in the US, nearly 150 million people struggled to stay cool from the Midwestern plains to the Atlantic coast and local media reported at least six deaths. The new high is all the more notable because the previous followed a strong El Nino, which boosts average global temperatures beyond the impact of global warming alone. El Ninos are naturally occurring weather events triggered by periodic warming every three to seven years in the eastern Pacific Ocean. Declining polar sea ice "Nine of the 10 hottest July have occurred since 2005 with the last five years ranking as the five hottest," the NOAA said, based on its data from weather stations, ship reports, and buoys. Alaska had its hottest July since it began keeping records in 2005, several countries in Europe saw their heat records smashed, and it was also the hottest month ever across Africa as a whole. There were some regions with cooler than average temperatures including parts of Scandinavia and western and eastern Russia, where temperatures were at least 1.5 degrees Celsius (2.7 degrees Fahrenheit) below average or cooler. Average Arctic sea ice meanwhile set a record low for July, at 1.9 million square kilometres (726,000 square miles), 19.8 per cent below average, and surpassing the previous historic low of July 2012. Average Antarctic sea ice was 675,000 square kilometres (260,000 square miles), 4.3 per cent below the 1981-2010 average, making it the smallest for July in the 41-year record. Earlier this month, UN Secretary-General Antonio Guterres described global warming and the breaking of recent records as a "climate emergency." "We have always lived through hot summers. But this is not the summer of our youth. This is not your grandfather's summer." US President Donald Trump withdrew in 2017 from the Paris Climate Agreement, which seeks to cap global warming at below 2 degrees Celsius above pre-industrial levels. But a federal climate assessment released by the NOAA last November found that climate change "is affecting the natural environment, agriculture, energy production, and use, land and water resources, transportation, and human health and welfare across the US and its territories."

July 2019 hottest month on record for the planet: US agency

British Prime Minister Boris Johnson wrote to all government employees on Friday to tell them that preparing for a no-deal exit from the European Union is his and their top priority, according to a copy of the email seen by Reuters.

Johnson has promised voters Britain will leave the EU on October 31 with or without an exit deal, demanding that Brussels drop parts of the existing proposed deal relating to the Irish border and negotiate a fresh exit arrangement.

But the EU is adamant that the legal terms of the deal cannot be rewritten, raising expectations among politicians and financial markets that Britain is headed for an unmanaged divorce from the bloc in less than three months.

"I would very much prefer to leave with a deal – one that must abolish the anti-democratic Irish backstop, which has unacceptable consequences for our country," Johnson said in the email.

"But I recognise this may not happen. That is why preparing urgently and rapidly for the possibility of an exit without a deal will be my top priority, and it will be the top priority for the Civil Service too."

Previously, pro-Brexit campaigners have criticised the ranks of Britain's civil service, which adopts a politically neutral stance while working to enact government policy, saying they were biased towards remaining in the EU and trying to obstruct the exit process.

Many investors say a no-deal Brexit would send shock waves through the world economy, tip Britain into a recession, roil financial markets and weaken London's position as the pre-eminent international financial centre.

"I know many of you have already done a great deal of hard work in mobilising to prepare for a No Deal scenario, so that we can leave on 31 October come what may," Johnson wrote in the email, first reported by Sky News.

"Between now and then, we must engage and communicate clearly with the British people about what our plans for taking back control mean, what people and businesses need to do, and the support we will provide."

Although advocates of a no-deal exit say that Britain would swiftly recover from any disruption and benefit over the long term from improved economic flexibility, sterling and other economic indicators reflect a broadly pessimistic outlook.

Data on Friday showed the British economy shrank unexpectedly for the first time since 2012 in the second quarter, dragged down by a slump in manufacturing.

Johnson, however praised the work of government employees in the 650-word bulletin issued on Friday afternoon, and promised a reforming agenda beyond Brexit, highlighting plans for improved public services.

"The Government I lead is fully committed to leaving the European Union by 31 October 2019 and getting a grip of the vital issues that affect people’s lives: the NHS, education and crime," he wrote.

"While there are no grounds for complacency, there is every reason for optimism."

British Prime Minister Boris Johnson wrote to all government employees on Friday to tell them that preparing for a no-deal exit from the European Union is his and their top priority, according to a copy of the email seen by Reuters.

British Prime Minister Boris Johnson wrote to all government employees on Friday to tell them that preparing for a no-deal exit from the European Union is his and their top priority, according to a copy of the email seen by Reuters. Johnson has promised voters Britain will leave the EU on October 31 with or without an exit deal, demanding that Brussels drop parts of the existing proposed deal relating to the Irish border and negotiate a fresh exit arrangement. But the EU is adamant that the legal terms of the deal cannot be rewritten, raising expectations among politicians and financial markets that Britain is headed for an unmanaged divorce from the bloc in less than three months. "I would very much prefer to leave with a deal – one that must abolish the anti-democratic Irish backstop, which has unacceptable consequences for our country," Johnson said in the email. "But I recognise this may not happen. That is why preparing urgently and rapidly for the possibility of an exit without a deal will be my top priority, and it will be the top priority for the Civil Service too." Previously, pro-Brexit campaigners have criticised the ranks of Britain's civil service, which adopts a politically neutral stance while working to enact government policy, saying they were biased towards remaining in the EU and trying to obstruct the exit process. Many investors say a no-deal Brexit would send shock waves through the world economy, tip Britain into a recession, roil financial markets and weaken London's position as the pre-eminent international financial centre. "I know many of you have already done a great deal of hard work in mobilising to prepare for a No Deal scenario, so that we can leave on 31 October come what may," Johnson wrote in the email, first reported by Sky News. "Between now and then, we must engage and communicate clearly with the British people about what our plans for taking back control mean, what people and businesses need to do, and the support we will provide." Although advocates of a no-deal exit say that Britain would swiftly recover from any disruption and benefit over the long term from improved economic flexibility, sterling and other economic indicators reflect a broadly pessimistic outlook. Data on Friday showed the British economy shrank unexpectedly for the first time since 2012 in the second quarter, dragged down by a slump in manufacturing. Johnson, however praised the work of government employees in the 650-word bulletin issued on Friday afternoon, and promised a reforming agenda beyond Brexit, highlighting plans for improved public services. "The Government I lead is fully committed to leaving the European Union by 31 October 2019 and getting a grip of the vital issues that affect people’s lives: the NHS, education and crime," he wrote. "While there are no grounds for complacency, there is every reason for optimism."

UK's Boris Johnson tells civil servants their top priority is preparing for no deal Brexit: Report

<a href="https://www.wionews.com/world/iran-says-missile-tests-defensive-needs-no-ones-permission-238915">Iran unveiled three precision-guided missiles</a> on Tuesday, with the defence minister saying they show the country is ready to defend itself in the face of US 'viciousness and conspiracies'.

The new line-up of air-to-air missiles dubbed the 'Yasin', 'Balaban' and a new series of the 'Ghaem' were developed jointly by the ministry and Sa Iran, also known as Iran Electronics Industries.

<a href="https://www.wionews.com/world/its-normal-for-iran-to-test-missiles-iranian-defence-minister-amir-hatami-239724">Defence Minister Brigadier-General Amir Hatami</a> hailed their launch as 'another significant achievement of power and dignity for the Islamic Republic of Iran'.

'It shows that despite the viciousness and conspiracies of the Great Satan America and its mercenaries, the defence ministry will not hesitate for a moment to defend the Islamic republic and to expand security,' he said, quoted by Fars news agency.

The Yasin was a smart, guided-missile with folding wings that can be fired from a range of 50 kilometres (30 miles) of its target from manned or unmanned aircraft, Fars reported.

The Balaban was guided by GPS and sensors, equipped with folding wings and could be mounted under aircraft, while the Ghaem was a heat-seeking missile that could hit within 50 centimetres of a target.

They were unveiled amid tensions between Iran and the US and its allies in the Strait of Hormuz a vital corridor linking oil-producing countries in the Middle East to markets in Asia, Europe, and North America.

The tensions arose after the US withdrew from a 2015 nuclear deal between Iran and world powers last year and began stepping up a campaign of 'maximum pressure' on the Islamic republic.

Since May this year, ships have been targeted in mysterious attacks, drones have been downed and oil tankers seized in the strategic waters.

 
&nbsp;

Iran unveiled three precision-guided missiles on Tuesday, with the defence minister saying they show the country is ready to defend itself in the face of US 'viciousness and conspiracies'.

Iran unveiled three precision-guided missiles on Tuesday, with the defence minister saying they show the country is ready to defend itself in the face of US 'viciousness and conspiracies'. The new line-up of air-to-air missiles dubbed the 'Yasin', 'Balaban' and a new series of the 'Ghaem' were developed jointly by the ministry and Sa Iran, also known as Iran Electronics Industries. Defence Minister Brigadier-General Amir Hatami hailed their launch as 'another significant achievement of power and dignity for the Islamic Republic of Iran'. 'It shows that despite the viciousness and conspiracies of the Great Satan America and its mercenaries, the defence ministry will not hesitate for a moment to defend the Islamic republic and to expand security,' he said, quoted by Fars news agency. The Yasin was a smart, guided-missile with folding wings that can be fired from a range of 50 kilometres (30 miles) of its target from manned or unmanned aircraft, Fars reported. The Balaban was guided by GPS and sensors, equipped with folding wings and could be mounted under aircraft, while the Ghaem was a heat-seeking missile that could hit within 50 centimetres of a target. They were unveiled amid tensions between Iran and the US and its allies in the Strait of Hormuz a vital corridor linking oil-producing countries in the Middle East to markets in Asia, Europe, and North America. The tensions arose after the US withdrew from a 2015 nuclear deal between Iran and world powers last year and began stepping up a campaign of 'maximum pressure' on the Islamic republic. Since May this year, ships have been targeted in mysterious attacks, drones have been downed and oil tankers seized in the strategic waters.

Iran unveils three new precision-guided missiles

The extreme heat waves that enveloped parts of Western Europe last month were made much more likely and intense by human induced climate change, a study has found.

A recent report from the World Weather Attribution group has suggested that the continuous days of extreme heat that hit countries like <a href="https://www.wionews.com/world/suicide-of-35-employees-trial-of-france-telecom-bosses-nears-the-end-235117">France</a> and Netherlands would have been a once in a millennium occurrence without the climate change but was made up to 100 times more probable as a result of it.

In the UK and Germany, the event is less rare (with estimated return periods of around 10-30 years in the current climate) and the likelihood is about 10 times higher (at least 3 times) due to climate change, the study added.

Though in all these countries, the temperature would have been 1.5 to 3 degrees celsius lower without climate change.

The said group has analyzed all seven heatwaves in the 21st century in <a href="https://www.wionews.com/world/will-continue-to-reduce-nuclear-deal-commitments-unless-europe-protects-iran-from-us-sanctions-javad-zarif-239698">Europe</a> (2003, 2010, 2015, 2017, 2018, and June 2019), and found that each one was made more likely and more intense due to human induced climate change.

"The July 2019 heatwave was so extreme over continental Western Europe that the observed magnitudes would have been extremely unlikely without climate change," the report concluded.&nbsp;

The extreme heat waves that enveloped parts of Western Europe last month were made much more likely and intense by human induced climate change, a study has found.

The extreme heat waves that enveloped parts of Western Europe last month were made much more likely and intense by human induced climate change, a study has found. A recent report from the World Weather Attribution group has suggested that the continuous days of extreme heat that hit countries like France and Netherlands would have been a once in a millennium occurrence without the climate change but was made up to 100 times more probable as a result of it. In the UK and Germany, the event is less rare (with estimated return periods of around 10-30 years in the current climate) and the likelihood is about 10 times higher (at least 3 times) due to climate change, the study added. Though in all these countries, the temperature would have been 1.5 to 3 degrees celsius lower without climate change. The said group has analyzed all seven heatwaves in the 21st century in Europe (2003, 2010, 2015, 2017, 2018, and June 2019), and found that each one was made more likely and more intense due to human induced climate change. "The July 2019 heatwave was so extreme over continental Western Europe that the observed magnitudes would have been extremely unlikely without climate change," the report concluded.

European heatwave fueled by human-induced climate change, study finds

At dusk, tourists marvel at the sensational collapse of an iceberg at the end of its long journey from <a href="https://www.wionews.com/world/atmospheric-flow-now-going-to-transport-heat-towards-greenland-un-238653">Greenland to Canada's east coast</a>, which now has a front-row seat to the melting of the <a href="https://www.wionews.com/world/alaska-heat-wave-shatters-citys-record-disrupts-jobs-and-lives-233451">Arctic's ice</a>.

While the rest of the world nervously eyes the impact of global warming, the calving of Greenland's glaciers the breaking off of ice chunks from its edge has breathed new life into the remote coastal villages of Newfoundland and Labrador.

Once a hub of cod fishing, the province now plays host to hordes of amateur photographers and tourists hoping to capture the epic ice melt for posterity. As winter ends, iceberg spotting begins.

"It keeps getting better every year," says Barry Strickland, a 58-year-old former fisherman who now takes tourists in his small boat around King's Point in the north of the province.&nbsp;

"We've got 135, 140 tour buses with older people coming into the town every season so it's great for the economy."

For the past four years, Strickland has taken visitors to bear witness to the death throes of these ice giants, which can measure dozens of meters in height and weigh hundreds of thousands of tons.&nbsp;

Winds and ocean currents bring the icebergs from northwest Greenland, thousands of kilometres (miles) away, to Canada's shores.&nbsp;

In a matter of weeks, ice frozen for thousands of years can quickly melt into the ocean.

'Incredible' rise in tourism&nbsp;

Strickland's boat excursions are often fully booked during the high season from May to July, with tourists coming from all around the world to King's Point, a village of just 600 inhabitants.

The villagers keep track of the icebergs on an interactive satellite tracking map put online by the provincial government.

"There's not much in these small outport towns anymore to keep people around, so tourism is a big part of our economy," said Devon Chaulk, who works in a souvenir shop in Elliston, a small town of 300 on "Iceberg Corridor," as the coastline is now known.

"I've lived here my entire life, and the increase in tourism around here in the past 10 to 15 years has been incredible. It's not surprising to have thousands of people here over the next couple of months," said the 28-year-old.&nbsp;

Last year, a total of 500,000 tourists visited Newfoundland and Labrador, a number roughly equivalent to the province's total population.&nbsp;

Those visitors spent nearly Can $570 million, government figures show.

Melting ice&nbsp;

The tourism boom has helped offset the decline in the region's traditional fishing industry, which is in crisis because of overfishing at the end of the last century.

Some are even marketing "iceberg water" as the purest on Earth and selling it as a high-end luxury item. The melt is also used in vodka, beer and cosmetics.&nbsp;

But beneath the shiny surface of economic success is the dark truth that the area is in part profiting from accelerated global warming in the Arctic and that the industry is precarious at best.

In the village of Twillingate, employees at the Auk Island Winery which makes its product from iceberg water and locally picked wild berries have already seen that business can be unpredictable.

"We see the difference in the number of tourists from year to year, depending on the number of icebergs in the area," says Elizabeth Gleason, who works at the winery.

"This year was a good year. Last year, we had almost none."

The Arctic is warming three times faster than the rest of the world. In mid-July, record temperatures were recorded near the North Pole.

In recent years, the icebergs have drifted further and further south, posing a threat to shipping on this busy route between Europe and North America.

For now, tourists are enjoying the view and the experience while they can.&nbsp;

"The prevalence of icebergs has good things and bad things about it," says Melissa Axtman, an American traveller.

Laurent Lucazeau, a 34-year-old French tourist, says seeing an iceberg was sobering.

"It is a concrete image of global warming to see icebergs making it to these places where the water is warm," he told AFP.

"There's something mysterious and impressive about it, but knowing too that they are not supposed to be here makes you wonder, and it's a little scary."

At dusk, tourists marvel at the sensational collapse of an iceberg at the end of its long journey from Greenland to Canada's east coast, which now has a front-row seat to the melting of the Arctic's ice.

At dusk, tourists marvel at the sensational collapse of an iceberg at the end of its long journey from Greenland to Canada's east coast, which now has a front-row seat to the melting of the Arctic's ice. While the rest of the world nervously eyes the impact of global warming, the calving of Greenland's glaciers the breaking off of ice chunks from its edge has breathed new life into the remote coastal villages of Newfoundland and Labrador. Once a hub of cod fishing, the province now plays host to hordes of amateur photographers and tourists hoping to capture the epic ice melt for posterity. As winter ends, iceberg spotting begins. "It keeps getting better every year," says Barry Strickland, a 58-year-old former fisherman who now takes tourists in his small boat around King's Point in the north of the province. "We've got 135, 140 tour buses with older people coming into the town every season so it's great for the economy." For the past four years, Strickland has taken visitors to bear witness to the death throes of these ice giants, which can measure dozens of meters in height and weigh hundreds of thousands of tons. Winds and ocean currents bring the icebergs from northwest Greenland, thousands of kilometres (miles) away, to Canada's shores. In a matter of weeks, ice frozen for thousands of years can quickly melt into the ocean. 'Incredible' rise in tourism Strickland's boat excursions are often fully booked during the high season from May to July, with tourists coming from all around the world to King's Point, a village of just 600 inhabitants. The villagers keep track of the icebergs on an interactive satellite tracking map put online by the provincial government. "There's not much in these small outport towns anymore to keep people around, so tourism is a big part of our economy," said Devon Chaulk, who works in a souvenir shop in Elliston, a small town of 300 on "Iceberg Corridor," as the coastline is now known. "I've lived here my entire life, and the increase in tourism around here in the past 10 to 15 years has been incredible. It's not surprising to have thousands of people here over the next couple of months," said the 28-year-old. Last year, a total of 500,000 tourists visited Newfoundland and Labrador, a number roughly equivalent to the province's total population. Those visitors spent nearly Can $570 million, government figures show. Melting ice The tourism boom has helped offset the decline in the region's traditional fishing industry, which is in crisis because of overfishing at the end of the last century. Some are even marketing "iceberg water" as the purest on Earth and selling it as a high-end luxury item. The melt is also used in vodka, beer and cosmetics. But beneath the shiny surface of economic success is the dark truth that the area is in part profiting from accelerated global warming in the Arctic and that the industry is precarious at best. In the village of Twillingate, employees at the Auk Island Winery which makes its product from iceberg water and locally picked wild berries have already seen that business can be unpredictable. "We see the difference in the number of tourists from year to year, depending on the number of icebergs in the area," says Elizabeth Gleason, who works at the winery. "This year was a good year. Last year, we had almost none." The Arctic is warming three times faster than the rest of the world. In mid-July, record temperatures were recorded near the North Pole. In recent years, the icebergs have drifted further and further south, posing a threat to shipping on this busy route between Europe and North America. For now, tourists are enjoying the view and the experience while they can. "The prevalence of icebergs has good things and bad things about it," says Melissa Axtman, an American traveller. Laurent Lucazeau, a 34-year-old French tourist, says seeing an iceberg was sobering. "It is a concrete image of global warming to see icebergs making it to these places where the water is warm," he told AFP. "There's something mysterious and impressive about it, but knowing too that they are not supposed to be here makes you wonder, and it's a little scary."

'Iceberg Corridor' sparks tourist boom on Canada's east coast

Investors continued to pump in money into bonds and shunned equities in the past week, Bank of America Merrill Lynch (BAML) said on Friday, amid worries of a corporate earnings recession and trade tensions across the world.

BAML said its global earnings per share (EPS) "growth model" suggested an earnings recession. The model forecasts a 7.5% drop in EPS in the next 12 months.

With all major central banks coming out with less-dovish guidance, in the week to July 31 investors played it safe by pouring $10.5 billion into bonds while pulling some $1.7 billion money out of equities.

The US was the only region to attract investors, who pumped $4.8 billion into equities, while European and Japan stocks had outflows. Money has flowed out of European equities in 70 of the past 73 weeks.

Global equities were roiled last week by central bank comments that fell-short of expectations. European markets took a sharp hit after the European Central Bank kept interest&nbsp;rates intact and its outlook on easing came in below market expectations.

The US Federal Reserve cut interest rates in line with market expectations on Wednesday but poured cold water on market expectations of a lengthy easing cycle sending global stocks lower.

Investors continued to pump in money into bonds and shunned equities in the past week, Bank of America Merrill Lynch (BAML) said on Friday, amid worries of a corporate earnings recession and trade tensions across the world.

Investors continued to pump in money into bonds and shunned equities in the past week, Bank of America Merrill Lynch (BAML) said on Friday, amid worries of a corporate earnings recession and trade tensions across the world. BAML said its global earnings per share (EPS) "growth model" suggested an earnings recession. The model forecasts a 7.5% drop in EPS in the next 12 months. With all major central banks coming out with less-dovish guidance, in the week to July 31 investors played it safe by pouring $10.5 billion into bonds while pulling some $1.7 billion money out of equities. The US was the only region to attract investors, who pumped $4.8 billion into equities, while European and Japan stocks had outflows. Money has flowed out of European equities in 70 of the past 73 weeks. Global equities were roiled last week by central bank comments that fell-short of expectations. European markets took a sharp hit after the European Central Bank kept interest rates intact and its outlook on easing came in below market expectations. The US Federal Reserve cut interest rates in line with market expectations on Wednesday but poured cold water on market expectations of a lengthy easing cycle sending global stocks lower.

Fears of earnings recession keep investors away from stocks: Bank of America Merrill Lynch

The dollar charged to its highest in more than two years on Thursday after the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/stormy-sterling-sinks-again-stocks-wilt-before-fed-239448&amp;sa=U&amp;ved=2ahUKEwjO-ZbLuOHjAhUBr48KHSApDvgQFjAFegQIBBAC&amp;usg=AOvVaw3Y8jTTDaVY7qnK939Bej7w">Federal Reserve</a> spoiled hopes of a run of US interest rate cuts.

A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running. Powell said the first US rate cut in over a decade was "not the beginning of a long series of rate cuts".

The dollar’s reaction said it all. The DXY index surged to its highest in more than two years, euro/dollar dropped below $1.11 for the first time since May 2017, and Brexit-hobbled sterling hit 30-month lows just above $1.21.

World stocks had recoiled overnight and emerging markets had their longest run of falls in almost a year.

"Markets interpreted the Fed’s communication as slightly hawkish and therefore further rate cuts in the immediate future were somewhat priced out," said David Milleker, senior economic advisor at Union Investment. "And the dollar strengthened. All in all, the Fed did not achieve what it presumably wanted."

US Treasuries were sold off as investors scaled back their pre-Fed expectations for at least 100 basis points of cuts in the near term. Yields on 10-year notes climbed as high as 2.058% in Europe from a US close of 2.007%.

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Core eurozone bond yields were rising, too, although -0.428% German Bund levels were still extraordinary. "I didn’t say it’s just one rate cut," Powell had been careful to emphasise after Wednesday's 25-basis-point move.

Instead, he characterised it as "a mid-cycle adjustment to policy", citing signs of a global slowdown, US trade tensions and a desire to boost inflation.

Wall Street fell afterwards and E-minis futures for the S&amp;P 500 were pointing 0.15% lower.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8%, extending losses for a fifth day to the lowest since mid-June and posting its biggest one-day percentage drop in a month.

Japan's Nikkei rose, reversing early declines. Australian shares declined 0.4%. Losses by Chinese shares ended down 0.8%.

"We believe the Fed is trying to thread the needle, balancing market jitters about slowing global growth with robust consumer spending and a strong job market in the US," said Nick Maroutsos, co-head of global bonds at Janus Henderson.

"In other words, by cutting just 25 bps, the Fed is trying to bolster market confidence while also keeping some dry powder in reserve in case of an economic shock."

Trade Talks

Adding to worries, the United States and China on Wednesday ended a brief round of talks without much progress in ending their year-long trade war.

Downbeat data and factory surveys on Thursday had also pointed to further weakness for Asia's trade-reliant economies.

South Korea's exports fell for an eighth straight month in July amid weak global demand and a dispute with Japan. New export orders shrank the most in about six years.

South Korea, the world's sixth-largest exporter, is the first major industrial economy to release trade data each month, providing an early assessment on the health of global demand.

Pressure on Chinese factories eased slightly, but manufacturing activity continued to shrink.

"The broader global trade dynamic remains a challenge," Morgan Stanley strategist Michael Zezas said. "Trade should continue to drag on corporate confidence, CapEx and global growth in the near term."

In Europe's foreign exchange markets, sterling dropped as low as $1.2101 before a Bank of England meeting that's expected to leave its 0.75% interest rate unchanged but result in plenty of interesting discussions.

Fears of a <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/britain-to-spend-an-extra-26-billion-on-no-deal-brexit-planning-239860&amp;sa=U&amp;ved=2ahUKEwjd24uDu-HjAhUW8XMBHSfID2IQFjAAegQIBhAC&amp;usg=AOvVaw05e85f7pwO51L5lCnpMiS3">no-deal Brexit</a> now that Boris Johnson is prime minister continue to afflict the pound, although it was fractionally higher against a weakening euro at 91.17 pence.

"Sterling remains vulnerable to a further escalation in Brexit tensions and we anticipate the market will likely discount higher risks of a ‘no deal’ outcome in the weeks ahead," said Roger Hallam, currency chief investment officer at JP Morgan Asset Management.

Elsewhere, the Aussie dollar slipped below key chart support of $0.6832 to as low as $0.6828, a level not seen since an early January "flash crash".

The kiwi hit a six-week trough of $0.6535 on expectations the Reserve Bank of New Zealand will cut rates next week.

US crude futures fell 76 cents to $57.82 per barrel after comments on the rating outlook. Brent was down 71 cents at $64.34.

Spot gold also fell, to $1,405.26.

The dollar charged to its highest in more than two years on Thursday after the Federal Reserve spoiled hopes of a run of US interest rate cuts. A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running.

The dollar charged to its highest in more than two years on Thursday after the Federal Reserve spoiled hopes of a run of US interest rate cuts. A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running. Powell said the first US rate cut in over a decade was "not the beginning of a long series of rate cuts". The dollar’s reaction said it all. The DXY index surged to its highest in more than two years, euro/dollar dropped below $1.11 for the first time since May 2017, and Brexit-hobbled sterling hit 30-month lows just above $1.21. World stocks had recoiled overnight and emerging markets had their longest run of falls in almost a year. "Markets interpreted the Fed’s communication as slightly hawkish and therefore further rate cuts in the immediate future were somewhat priced out," said David Milleker, senior economic advisor at Union Investment. "And the dollar strengthened. All in all, the Fed did not achieve what it presumably wanted." US Treasuries were sold off as investors scaled back their pre-Fed expectations for at least 100 basis points of cuts in the near term. Yields on 10-year notes climbed as high as 2.058% in Europe from a US close of 2.007%. WATCH VIDEO × Core eurozone bond yields were rising, too, although -0.428% German Bund levels were still extraordinary. "I didn’t say it’s just one rate cut," Powell had been careful to emphasise after Wednesday's 25-basis-point move. Instead, he characterised it as "a mid-cycle adjustment to policy", citing signs of a global slowdown, US trade tensions and a desire to boost inflation. Wall Street fell afterwards and E-minis futures for the S&P 500 were pointing 0.15% lower. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8%, extending losses for a fifth day to the lowest since mid-June and posting its biggest one-day percentage drop in a month. Japan's Nikkei rose, reversing early declines. Australian shares declined 0.4%. Losses by Chinese shares ended down 0.8%. "We believe the Fed is trying to thread the needle, balancing market jitters about slowing global growth with robust consumer spending and a strong job market in the US," said Nick Maroutsos, co-head of global bonds at Janus Henderson. "In other words, by cutting just 25 bps, the Fed is trying to bolster market confidence while also keeping some dry powder in reserve in case of an economic shock." Trade Talks Adding to worries, the United States and China on Wednesday ended a brief round of talks without much progress in ending their year-long trade war. Downbeat data and factory surveys on Thursday had also pointed to further weakness for Asia's trade-reliant economies. South Korea's exports fell for an eighth straight month in July amid weak global demand and a dispute with Japan. New export orders shrank the most in about six years. South Korea, the world's sixth-largest exporter, is the first major industrial economy to release trade data each month, providing an early assessment on the health of global demand. Pressure on Chinese factories eased slightly, but manufacturing activity continued to shrink. "The broader global trade dynamic remains a challenge," Morgan Stanley strategist Michael Zezas said. "Trade should continue to drag on corporate confidence, CapEx and global growth in the near term." In Europe's foreign exchange markets, sterling dropped as low as $1.2101 before a Bank of England meeting that's expected to leave its 0.75% interest rate unchanged but result in plenty of interesting discussions. Fears of a no-deal Brexit now that Boris Johnson is prime minister continue to afflict the pound, although it was fractionally higher against a weakening euro at 91.17 pence. "Sterling remains vulnerable to a further escalation in Brexit tensions and we anticipate the market will likely discount higher risks of a ‘no deal’ outcome in the weeks ahead," said Roger Hallam, currency chief investment officer at JP Morgan Asset Management. Elsewhere, the Aussie dollar slipped below key chart support of $0.6832 to as low as $0.6828, a level not seen since an early January "flash crash". The kiwi hit a six-week trough of $0.6535 on expectations the Reserve Bank of New Zealand will cut rates next week. US crude futures fell 76 cents to $57.82 per barrel after comments on the rating outlook. Brent was down 71 cents at $64.34. Spot gold also fell, to $1,405.26.

Mind your backs, dollar coming through!

Here's how President Abdel Fatah al-Sisi's Egypt hands out justice

Iran is set to further cut its commitments to its international nuclear deal unless its European partners move to <a href="https://www.wionews.com/world/us-to-renew-sanctions-waivers-for-five-iran-nuclear-programs-report-239595">protect it from US sanctions</a> by ensuring it can sell oil and receive income, its foreign minister said on Wednesday.

"Under the current circumstances and until the necessary measures are taken (by the Europeans), the Republic of Iran will absolutely implement the third step (in cutting commitments)," Mohammad Javad Zarif said, adding that its European partners should guarantee Iran could sell its oil and collect the revenue.

Iran has said it will reduce its commitment to the nuclear accord in stages and may even withdraw from the pact unless the Europeans find ways to shield its economy from the US sanctions.

Meanwhile, the commander of a British warship accompanying UK-flagged ships through the Strait of Hormuz amid heightened tensions with Iran said Wednesday that <a href="http://wionews.com/world/uk-warship-commander-says-iran-trying-to-test-britain-in-gulf-239693">Tehran appeared to be testing the Royal Navy's resolve</a>.

William King, commander of HMS Montrose, said during 27 days patrolling the flashpoint entrance to the Gulf he had had 85 "interactions with Iranian forces", which had often led to "an exchange of warnings" over the radio.

"That gives you some idea of the intensity... (it) is perhaps more than we've seen of recent times," he told BBC Radio in a phone interview from aboard the frigate.

"The Iranians seem to be keen to test our resolve, test our reactions most of the time," King added.

"They'll claim that perhaps our presence is illegitimate, even though we're completely lawfully in international waters.

"They may also run boats in at speed towards us, to test what warning levels we get to."

Iran is set to further cut its commitments to its international nuclear deal unless its European partners move to protect it from US sanctions by ensuring it can sell oil and receive income, its foreign minister said on Wednesday.

Iran is set to further cut its commitments to its international nuclear deal unless its European partners move to protect it from US sanctions by ensuring it can sell oil and receive income, its foreign minister said on Wednesday. "Under the current circumstances and until the necessary measures are taken (by the Europeans), the Republic of Iran will absolutely implement the third step (in cutting commitments)," Mohammad Javad Zarif said, adding that its European partners should guarantee Iran could sell its oil and collect the revenue. Iran has said it will reduce its commitment to the nuclear accord in stages and may even withdraw from the pact unless the Europeans find ways to shield its economy from the US sanctions. Meanwhile, the commander of a British warship accompanying UK-flagged ships through the Strait of Hormuz amid heightened tensions with Iran said Wednesday that Tehran appeared to be testing the Royal Navy's resolve. William King, commander of HMS Montrose, said during 27 days patrolling the flashpoint entrance to the Gulf he had had 85 "interactions with Iranian forces", which had often led to "an exchange of warnings" over the radio. "That gives you some idea of the intensity... (it) is perhaps more than we've seen of recent times," he told BBC Radio in a phone interview from aboard the frigate. "The Iranians seem to be keen to test our resolve, test our reactions most of the time," King added. "They'll claim that perhaps our presence is illegitimate, even though we're completely lawfully in international waters. "They may also run boats in at speed towards us, to test what warning levels we get to."

Will reduce more nuclear deal commitments unless Europe protects Iran from US sanctions: Javad Zarif

Brewing <a href="https://www.wionews.com/business-economy/asia-stocks-higher-ahead-of-fed-pound-pressured-by-fresh-brexit-pain-239341">no-deal Brexit</a> worries sent the pound sinking towards a two-year low versus the euro and roughed up Irish bonds on Tuesday, while stock markets wilted before what is expected to be the first cut in rates since the financial crisis.

Europe's markets suffered a stormy start as the pound followed its worst day of the year with another 0.5% swoon against all the major currencies.

A blizzard of fiery talk on Monday that included the new UK Prime Minister Boris Johnson called his predecessor's Brexit plans dead and its new foreign minister labelling the European Union "stubborn" kept the slide intact.

<a href="https://www.wionews.com/world/uk-plays-brexit-hardball-with-stubborn-european-union-pound-falls-to-a-two-year-low-239235">Sterling fell</a> as far as $1.2120, which was its lowest against the dollar since March 2017, and to 91.85 pence per euro, the weakest since September 2017.

Options markets were pointing to more pain too. Three-month implied volatility, a contract that expires just before the October&nbsp;31 Brexit deadline, jumped to over 11 vols, the highest since before March 29, the original date for Britain to leave the European Union.

"The pound is in a very precarious state, it is as simple as that," said TD Securities' European head of currency strategy Ned Rumpeltin.

"We are now in a different regime," he said, referring to Johnson's explicit agenda of taking Britain out of the EU, whether or not transitional trading agreements are in place.

It was not just sterling reeling either.

Irish government bond yield spreads over Germany hit their widest levels in over a month at 24 basis points, on worries about the damage a no-deal Brexit would do to Ireland's economy.

Other eurozone government bond yields were holding near recent lows ahead of the Federal Reserve meeting which is expected to deliver a 25 basis point rate cut on Wednesday and potentially signal more on the way.

Germany's 10-year government bond yield was hovering near the minus 0.40% mark.

European shares slipped as grim forecasts from German chemicals and drugs giant Bayer and airline Lufthansa soured sentiment, although the weakness of the pound kept London's blue-chip FTSE index just about out of the red.

With concerns about global growth still bubbling among investors, a GfK survey also showed German consumer morale worsening for the third month in a row heading into August as trade disputes bit in Europe's biggest exporter.

"Most markets are down this morning," said Simona Gambarini, a markets economist at Capital Economics. "The S&amp;P closed lower yesterday. We have a few data releases regarding the eurozone that could push equity prices down but I think everyone is waiting for the Fed meeting."

Aussie Gold

Asia had been a bit more positive overnight.

Japan's Nikkei rose 0.4%, showing a limited reaction to the Bank of Japan's widely anticipated decision to stand pat on monetary policy. Shanghai rose 0.3% and Hong Kong's Hang Seng edged up 0.2%.

Australian stocks stole the glory again though with another record high, as buoyant mining shares added to tech-driven gains the previous day.

The BOJ added that it would ease policy again "without hesitation" if the economy loses momentum for achieving the central bank's 2% inflation target.

Also drawing some attention were US-China trade negotiations which begin in Shanghai on Tuesday, although expectations for progress during the two-day meeting are low with the markets hoping the two sides can at least detail commitments for "goodwill" gestures.

Among commodities, crude oil prices extended the previous day's gains, with the Fed's expected easing fuelling optimism that it would boost the economy and fuel demand in the world's biggest oil consumer.

US crude futures were up 0.65% at $57.24 per barrel and Brent crude added 0.6% to $64.09. Gold was down 0.1% at $1,425 per ounce.

Brewing no-deal Brexit worries sent the pound sinking towards a two-year low versus the euro and roughed up Irish bonds on Tuesday, while stock markets wilted before what is expected to be the first cut in rates since the financial crisis.

Brewing no-deal Brexit worries sent the pound sinking towards a two-year low versus the euro and roughed up Irish bonds on Tuesday, while stock markets wilted before what is expected to be the first cut in rates since the financial crisis. Europe's markets suffered a stormy start as the pound followed its worst day of the year with another 0.5% swoon against all the major currencies. A blizzard of fiery talk on Monday that included the new UK Prime Minister Boris Johnson called his predecessor's Brexit plans dead and its new foreign minister labelling the European Union "stubborn" kept the slide intact. Sterling fell as far as $1.2120, which was its lowest against the dollar since March 2017, and to 91.85 pence per euro, the weakest since September 2017. Options markets were pointing to more pain too. Three-month implied volatility, a contract that expires just before the October 31 Brexit deadline, jumped to over 11 vols, the highest since before March 29, the original date for Britain to leave the European Union. "The pound is in a very precarious state, it is as simple as that," said TD Securities' European head of currency strategy Ned Rumpeltin. "We are now in a different regime," he said, referring to Johnson's explicit agenda of taking Britain out of the EU, whether or not transitional trading agreements are in place. It was not just sterling reeling either. Irish government bond yield spreads over Germany hit their widest levels in over a month at 24 basis points, on worries about the damage a no-deal Brexit would do to Ireland's economy. Other eurozone government bond yields were holding near recent lows ahead of the Federal Reserve meeting which is expected to deliver a 25 basis point rate cut on Wednesday and potentially signal more on the way. Germany's 10-year government bond yield was hovering near the minus 0.40% mark. European shares slipped as grim forecasts from German chemicals and drugs giant Bayer and airline Lufthansa soured sentiment, although the weakness of the pound kept London's blue-chip FTSE index just about out of the red. With concerns about global growth still bubbling among investors, a GfK survey also showed German consumer morale worsening for the third month in a row heading into August as trade disputes bit in Europe's biggest exporter. "Most markets are down this morning," said Simona Gambarini, a markets economist at Capital Economics. "The S&P closed lower yesterday. We have a few data releases regarding the eurozone that could push equity prices down but I think everyone is waiting for the Fed meeting." Aussie Gold Asia had been a bit more positive overnight. Japan's Nikkei rose 0.4%, showing a limited reaction to the Bank of Japan's widely anticipated decision to stand pat on monetary policy. Shanghai rose 0.3% and Hong Kong's Hang Seng edged up 0.2%. Australian stocks stole the glory again though with another record high, as buoyant mining shares added to tech-driven gains the previous day. The BOJ added that it would ease policy again "without hesitation" if the economy loses momentum for achieving the central bank's 2% inflation target. Also drawing some attention were US-China trade negotiations which begin in Shanghai on Tuesday, although expectations for progress during the two-day meeting are low with the markets hoping the two sides can at least detail commitments for "goodwill" gestures. Among commodities, crude oil prices extended the previous day's gains, with the Fed's expected easing fuelling optimism that it would boost the economy and fuel demand in the world's biggest oil consumer. US crude futures were up 0.65% at $57.24 per barrel and Brent crude added 0.6% to $64.09. Gold was down 0.1% at $1,425 per ounce.

Stormy sterling sinks again, stocks wilt before Fed

Ryanair Holdings Plc on Monday warned fares would fall by 6 per cent&nbsp;in its key summer season this year, in part due to overcapacity in Germany and Brexit fears in the United Kingdom, but kept its profit target for the year.

Shares of Europe's largest low-cost carrier have almost halved in value in two years as the company grappled with overcapacity in Europe, Britain's plans to leave the European Union and, most recently, delays in delivery of the Boeing 737 MAX.

Ryanair earlier this month halved its growth targets for next year due to delays in deliveries of the 737 MAX. On Monday, it said it expected the first deliveries in January at the earliest.

The airline reported a profit after tax of 243 million euros for the three months to June 30, down from 309 million a year earlier. A poll of analysts published by Ryanair ahead of the results had forecast a profit of 232 million euros.

It retained its profit forecast for the year to March 31, 2020 of between 750 million euros and 950 million euros, compared to a forecast of 832 million euros in the analyst poll.

Ryanair said its fares in the three months to the end of June declined 6% from a year earlier and said it expected a similar fall for the remainder of the summer. Average fares for the year to end-March 2020 will be towards the lower end of its guidance range of -2% to +1%, it added.

Ryanair's shares closed on Friday at 10.02 euros, almost half their peak of 19.39 euros hit two years ago.

Ryanair is one of Boeing's biggest customers and was due to have 58 737 MAX jets in time for its 2020 summer season. But it now expects to receive just 30 by then in that period.

Ryanair's chief financial officer, Niall Sorohan, said the timing of plans by its pilots in the United Kingdom and Ireland to ballot for possible industrial action in August was "unusual", given concerns around the MAX and Brexit, but said the airline was open to talks.

Ryanair Holdings Plc on Monday warned fares would fall by 6 per cent in its key summer season this year, in part due to overcapacity in Germany and Brexit fears in the United Kingdom, but kept its profit target for the year.

Ryanair Holdings Plc on Monday warned fares would fall by 6 per cent in its key summer season this year, in part due to overcapacity in Germany and Brexit fears in the United Kingdom, but kept its profit target for the year. Shares of Europe's largest low-cost carrier have almost halved in value in two years as the company grappled with overcapacity in Europe, Britain's plans to leave the European Union and, most recently, delays in delivery of the Boeing 737 MAX. Ryanair earlier this month halved its growth targets for next year due to delays in deliveries of the 737 MAX. On Monday, it said it expected the first deliveries in January at the earliest. The airline reported a profit after tax of 243 million euros for the three months to June 30, down from 309 million a year earlier. A poll of analysts published by Ryanair ahead of the results had forecast a profit of 232 million euros. It retained its profit forecast for the year to March 31, 2020 of between 750 million euros and 950 million euros, compared to a forecast of 832 million euros in the analyst poll. Ryanair said its fares in the three months to the end of June declined 6% from a year earlier and said it expected a similar fall for the remainder of the summer. Average fares for the year to end-March 2020 will be towards the lower end of its guidance range of -2% to +1%, it added. Ryanair's shares closed on Friday at 10.02 euros, almost half their peak of 19.39 euros hit two years ago. Ryanair is one of Boeing's biggest customers and was due to have 58 737 MAX jets in time for its 2020 summer season. But it now expects to receive just 30 by then in that period. Ryanair's chief financial officer, Niall Sorohan, said the timing of plans by its pilots in the United Kingdom and Ireland to ballot for possible industrial action in August was "unusual", given concerns around the MAX and Brexit, but said the airline was open to talks.

Ryanair expects average fares to fall 6% in key summer season

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 29th, 2019

WION Speed News: Watch top national and international news of the morning - July 28th, 2019

<a href="https://www.wionews.com/world/iran-intends-to-restart-activities-at-arak-heavy-water-nuclear-reactor-report-238974">Iran</a> on Sunday slammed as "provocative" a British proposal for a European-led naval mission to escort tankers in the Gulf, amid <a href="https://www.wionews.com/world/iran-ships-stranded-in-brazil-are-set-to-depart-officials-238954">soaring tensions over the seizure of ships</a>.

"We heard that they intend to send a European fleet to the Persian Gulf which naturally carries a hostile message, is provocative and will increase tensions," government spokesman Ali Rabiei said, quoted by ISNA news agency.

Britain said on Monday it was planning a European-led force to escort tankers through the world's busiest oil shipping lane in response to Iran's seizure of a UK-flagged vessel on July 19.

The seizure of the Stena Impero came two weeks after British authorities detained an Iranian tanker the Grace 1 off its overseas territory Gibraltar on allegations it was breaching EU sanctions on Syria.

In his comments on Sunday, the government spokesman said Iran believed the security of the oil-rich Gulf had to be maintained by countries in the region.

"We are the biggest agent of maritime security in the Persian Gulf," said Rabiei.

Britain on Thursday ordered its navy to escort <a href="https://www.wionews.com/world/irans-zarif-calls-for-prudence-and-foresight-as-tensions-mount-with-uk-237486">UK-flagged ships </a>through the Strait of Hormuz, where the Stena Impero was seized by Iran's Islamic Revolutionary Guard Corps.

But it has so far only received a cool response from the continent to its proposal for a multi-national escort fleet that would exclude the United States.

France said on Thursday it was not willing to send extra military assets to the Gulf, but would share information and coordinate its currently deployed assets.

The US military has said it is already monitoring the strait, and that it is developing a "multinational maritime effort" dubbed Operation Sentinel to increase surveillance and security in key Middle East waterways.

The 33-kilometre (22-mile) wide Strait of Hormuz provides the eastern entrance and exit point into the Gulf and runs between the United Arab Emirates and Iran.

Iran's high-seas standoff with Britain comes amid rising hostilities between the Islamic republic and the UK ally the United States.

The arch-enemies have been locked in a battle of nerves since President Donald Trump withdrew the US from a landmark 2015 deal aimed at limiting Iran's nuclear programme and began reimposing sanctions.

The situation has worsened since the Trump administration began a campaign of "maximum pressure" against Iran this year, with drones downed and tankers mysteriously attacked in Gulf waters.

Iran on Sunday slammed as "provocative" a British proposal for a European-led naval mission to escort tankers in the Gulf, amid soaring tensions over the seizure of ships.

Iran on Sunday slammed as "provocative" a British proposal for a European-led naval mission to escort tankers in the Gulf, amid soaring tensions over the seizure of ships. "We heard that they intend to send a European fleet to the Persian Gulf which naturally carries a hostile message, is provocative and will increase tensions," government spokesman Ali Rabiei said, quoted by ISNA news agency. Britain said on Monday it was planning a European-led force to escort tankers through the world's busiest oil shipping lane in response to Iran's seizure of a UK-flagged vessel on July 19. The seizure of the Stena Impero came two weeks after British authorities detained an Iranian tanker the Grace 1 off its overseas territory Gibraltar on allegations it was breaching EU sanctions on Syria. In his comments on Sunday, the government spokesman said Iran believed the security of the oil-rich Gulf had to be maintained by countries in the region. "We are the biggest agent of maritime security in the Persian Gulf," said Rabiei. Britain on Thursday ordered its navy to escort UK-flagged ships through the Strait of Hormuz, where the Stena Impero was seized by Iran's Islamic Revolutionary Guard Corps. But it has so far only received a cool response from the continent to its proposal for a multi-national escort fleet that would exclude the United States. France said on Thursday it was not willing to send extra military assets to the Gulf, but would share information and coordinate its currently deployed assets. The US military has said it is already monitoring the strait, and that it is developing a "multinational maritime effort" dubbed Operation Sentinel to increase surveillance and security in key Middle East waterways. The 33-kilometre (22-mile) wide Strait of Hormuz provides the eastern entrance and exit point into the Gulf and runs between the United Arab Emirates and Iran. Iran's high-seas standoff with Britain comes amid rising hostilities between the Islamic republic and the UK ally the United States. The arch-enemies have been locked in a battle of nerves since President Donald Trump withdrew the US from a landmark 2015 deal aimed at limiting Iran's nuclear programme and began reimposing sanctions. The situation has worsened since the Trump administration began a campaign of "maximum pressure" against Iran this year, with drones downed and tankers mysteriously attacked in Gulf waters.

Iran says European naval mission in Gulf would be 'provocative'

An Italian coastguard vessel stranded in the Mediterranean with more than 130 migrants aboard has been allowed to dock in the eastern Sicilian port of Augusta but Rome on Sunday refused to let them disembark until a deal is struck with the EU.

"The Gregoretti berthed in the port of Augusta overnight, as is normal procedure for a military vessel. Now the EU has to act because the migration question concerns the whole continent," Transport Minister Danilo Toninelli said in a statement.

Some 140 migrants, who had set off from Libya in two rickety boats, were picked up by Italian patrols on Thursday night and transferred to the Gregoretti ship.

The operation took place on the same day that at least 115 other migrants were believed to have drowned in a shipwreck off Libya -- the Mediterranean's deadliest tragedy this year, according to the International Organisation for Migration (IOM).

Several migrants aboard the Gregoretti have already been evacuated for medical attention, including a seven-month pregnant woman, her two children and her partner.

However, Italy's far-right Interior Minister Matteo Salvini has reiterated that the remaining migrants would not be able to leave the vessel until other European countries agree to take them in.

Salvini, also deputy prime minister, has taken a hard line against migrants rescued at sea being brought to Italy, which he says bears an unfair burden in the crisis.

French President Emmanuel Macron announced last Monday that 14 EU members had approved a plan to redistribute refugees rescued in the Mediterranean, and eight said they would actively take part.

The proposal drew Salvini's because it still involved allowing migrants to disembark on his country's territory.&nbsp;

He said the agreement underscored a demand that Italy "continues to be the refugee camp of Europe".

Pope Francis on Sunday called on the international community to "act swiftly" to help avoid further deaths.

"I have learned with sorrow the news of the dramatic shipwreck that happened in recent days in the Mediterranean where dozens of migrants including women and children have lost their lives," he said Sunday during his weekly Angelus address in St Peter's Square.

"I am renewing my call that the international community act swiftly and decisively to avoid that such tragedies repeat themselves and guarantee the safety and dignity of all."

An Italian coastguard vessel stranded in the Mediterranean with more than 130 migrants aboard has been allowed to dock in the eastern Sicilian port of Augusta but Rome on Sunday refused to let them disembark until a deal is struck with the EU.

An Italian coastguard vessel stranded in the Mediterranean with more than 130 migrants aboard has been allowed to dock in the eastern Sicilian port of Augusta but Rome on Sunday refused to let them disembark until a deal is struck with the EU. "The Gregoretti berthed in the port of Augusta overnight, as is normal procedure for a military vessel. Now the EU has to act because the migration question concerns the whole continent," Transport Minister Danilo Toninelli said in a statement. Some 140 migrants, who had set off from Libya in two rickety boats, were picked up by Italian patrols on Thursday night and transferred to the Gregoretti ship. The operation took place on the same day that at least 115 other migrants were believed to have drowned in a shipwreck off Libya -- the Mediterranean's deadliest tragedy this year, according to the International Organisation for Migration (IOM). Several migrants aboard the Gregoretti have already been evacuated for medical attention, including a seven-month pregnant woman, her two children and her partner. However, Italy's far-right Interior Minister Matteo Salvini has reiterated that the remaining migrants would not be able to leave the vessel until other European countries agree to take them in. Salvini, also deputy prime minister, has taken a hard line against migrants rescued at sea being brought to Italy, which he says bears an unfair burden in the crisis. French President Emmanuel Macron announced last Monday that 14 EU members had approved a plan to redistribute refugees rescued in the Mediterranean, and eight said they would actively take part. The proposal drew Salvini's because it still involved allowing migrants to disembark on his country's territory. He said the agreement underscored a demand that Italy "continues to be the refugee camp of Europe". Pope Francis on Sunday called on the international community to "act swiftly" to help avoid further deaths. "I have learned with sorrow the news of the dramatic shipwreck that happened in recent days in the Mediterranean where dozens of migrants including women and children have lost their lives," he said Sunday during his weekly Angelus address in St Peter's Square. "I am renewing my call that the international community act swiftly and decisively to avoid that such tragedies repeat themselves and guarantee the safety and dignity of all."

Dozens of migrants still stuck on vessel in Italy port

Flames engulfed trees beside a motorway in France on Friday (July 26), as a heatwave continues to grip Europe. Soaring temperatures broke records in France, Britain and the Netherlands on Thursday (July 25), in what scientists said were becoming more frequent events as the planet heats up. Earlier on Friday farmers were ordered to stop harvesting in France's second-largest grain-producing department Oise after hundreds of hectares of fields caught fire during an intense heatwave. Local authorities put an indefinite suspension on threshing in the whole of the Oise department on Thursday, citing the risk of fires and risk to the local population. More than 500 hectares of land caught fire on Tuesday alone in the department. Several firemen were hurt while trying to put out the fires.

Flames visible from motorway in France, as heatwave grips Europe

The hot air that smashed European weather records this week, moves towards Greenland and could take the world's second largest ice sheet close to or below the record low seen in 2012, the United Nations said on July 26.

Heatwave threatens Greenland ice sheet

Australia said it would establish the world's first dedicated office to police <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/facebook-to-create-privacy-panel-pay-5-billion-to-us-to-settle-data-breach-allegations-238141&amp;sa=U&amp;ved=2ahUKEwj36anBpdLjAhXJrY8KHYA-CLwQFjAHegQIAxAC&amp;usg=AOvVaw1s3tXY3k3_9nycsyvVh1Tr">Facebook Inc</a> and <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/big-tech-faces-broad-us-justice-department-antitrust-probe-238042&amp;sa=U&amp;ved=2ahUKEwj36anBpdLjAhXJrY8KHYA-CLwQFjAGegQIBRAC&amp;usg=AOvVaw1uT8BUjqeLr30Z5u6gK1Kq">Google</a>&nbsp;as part of reforms designed to rein in the US technology giants, potentially setting a precedent for global lawmakers.

The move tightens the regulatory screws on the online platforms, which have governments from the United States to Europe scrambling to address concerns ranging from anti-trust issues to the spread of "fake news" and hate speech.

Australian Treasurer Josh Frydenberg said the $5 billion fine slapped on Facebook in the United States this month for privacy breaches showed regulators were now taking such issues extremely seriously.

Watch Video:

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-facebook-fined-but-does-it-make-a-dent-238501/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"These companies are among the most powerful and valuable in the world," Frydenberg told reporters in Sydney after the release of a much-anticipated report on future regulation of the dominant digital platforms.

"They need to be held to account and their activities need to be more transparent."

Canberra would form a special branch of the Australian Competition and Consumer Commission (ACCC), the antitrust watchdog, to scrutinise how the companies used algorithms to match advertisements with viewers, giving them a stronghold on the main income generator of media operators.

The new office was one of 23 recommendations in the ACCC's report, including strengthening privacy laws, protections for the news media and a code of conduct requiring regulatory approval to govern how internet giants profit from users' content.

Frydenberg said the government intended to "lift the veil" on the closely guarded algorithms the firms use to collect and monetise users' data, and accepted the ACCC's "overriding conclusion that there is a need for reform".

The proposals would be subject to a 12-week public consultation process before the government acts on the report, he added.

Google and Facebook have opposed tighter regulation while traditional media owners, including Rupert Murdoch's News Corp, have backed reform.

News Corp's local executive chairman, Michael Miller, welcomed the "strength of the language and the identification of the problems", and said the publisher would work with the government to ensure "real change".

Facebook and Google said they would engage with the government during the consultation process, but had no comment on the specific recommendations.

The firms have previously rejected the need for tighter regulation and said the ACCC had underestimated the level of competition for online advertising.

ACCC Chairman Rod Sims said the regulator had five investigations of the two companies underway, and "I believe more will follow".

He said he was shocked at the amount of personal data the firms collected, often without users' knowledge.

"There needs to be a lot more transparency and oversight of Google and Facebook and their operations and practices," he said.

Among other recommendations in the report, the ACCC said it wanted privacy law updated to give people the right to erase personal data stored online, aligning Australia with some elements of the European Union's General Data Protection Regulation.

"We cannot leave these issues to be dealt with by commercial entities with substantial reach and market power. It's really up to government and regulators to get up to date and stay up to date in relation to all these issues," Sims said.

While the regulator did not recommend breaking up the tech giants, Sims also did not rule it out.

"If it turns out that ... divestiture is a better approach, then that can always be recommended down the track," he said.

Australia said it would establish the world's first dedicated office to police Facebook Inc and Google as part of reforms designed to rein in the US technology giants, potentially setting a precedent for global lawmakers.

Australia said it would establish the world's first dedicated office to police Facebook Inc and Google as part of reforms designed to rein in the US technology giants, potentially setting a precedent for global lawmakers. The move tightens the regulatory screws on the online platforms, which have governments from the United States to Europe scrambling to address concerns ranging from anti-trust issues to the spread of "fake news" and hate speech. Australian Treasurer Josh Frydenberg said the $5 billion fine slapped on Facebook in the United States this month for privacy breaches showed regulators were now taking such issues extremely seriously. Watch Video: "These companies are among the most powerful and valuable in the world," Frydenberg told reporters in Sydney after the release of a much-anticipated report on future regulation of the dominant digital platforms. "They need to be held to account and their activities need to be more transparent." Canberra would form a special branch of the Australian Competition and Consumer Commission (ACCC), the antitrust watchdog, to scrutinise how the companies used algorithms to match advertisements with viewers, giving them a stronghold on the main income generator of media operators. The new office was one of 23 recommendations in the ACCC's report, including strengthening privacy laws, protections for the news media and a code of conduct requiring regulatory approval to govern how internet giants profit from users' content. Frydenberg said the government intended to "lift the veil" on the closely guarded algorithms the firms use to collect and monetise users' data, and accepted the ACCC's "overriding conclusion that there is a need for reform". The proposals would be subject to a 12-week public consultation process before the government acts on the report, he added. Google and Facebook have opposed tighter regulation while traditional media owners, including Rupert Murdoch's News Corp, have backed reform. News Corp's local executive chairman, Michael Miller, welcomed the "strength of the language and the identification of the problems", and said the publisher would work with the government to ensure "real change". Facebook and Google said they would engage with the government during the consultation process, but had no comment on the specific recommendations. The firms have previously rejected the need for tighter regulation and said the ACCC had underestimated the level of competition for online advertising. ACCC Chairman Rod Sims said the regulator had five investigations of the two companies underway, and "I believe more will follow". He said he was shocked at the amount of personal data the firms collected, often without users' knowledge. "There needs to be a lot more transparency and oversight of Google and Facebook and their operations and practices," he said. Among other recommendations in the report, the ACCC said it wanted privacy law updated to give people the right to erase personal data stored online, aligning Australia with some elements of the European Union's General Data Protection Regulation. "We cannot leave these issues to be dealt with by commercial entities with substantial reach and market power. It's really up to government and regulators to get up to date and stay up to date in relation to all these issues," Sims said. While the regulator did not recommend breaking up the tech giants, Sims also did not rule it out. "If it turns out that ... divestiture is a better approach, then that can always be recommended down the track," he said.

Now, Australia to 'lift veil' on Facebook, Google algorithms to protect privacy

Nissan said Wednesday that a reported 90 per cent plunge in its first-quarter operating profit was "broadly accurate".

The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to <a href="https://www.wionews.com/world/nissan-to-cut-10000-jobs-worldwide-report-238084">slash more than 10,000 jobs worldwide</a>.

"While the financial results are still being reviewed, the operating profit reported in the Nikkei Shimbun article was broadly accurate," Nissan said in a press release.

The Nikkei reported that the plunge was due to declines in US sales, and costs for developing electric vehicles and autonomous driving technologies weighed on profits.

But Nissan added no official confirmation can be made before the announcement of results on Thursday.

In May, it reported net profit fell to a near-decade low and warned of "a difficult business environment" for the next 12 months.

The company has struggled in the US and Europe as it works to turn its fortunes around after former chief Carlos Ghosn was arrested for alleged financial misconduct.&nbsp;

Nissan said Wednesday that a reported 90 per cent plunge in its first-quarter operating profit was "broadly accurate". The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to slash more than 10,000 jobs worldwide.

Nissan said Wednesday that a reported 90 per cent plunge in its first-quarter operating profit was "broadly accurate". The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to slash more than 10,000 jobs worldwide. "While the financial results are still being reviewed, the operating profit reported in the Nikkei Shimbun article was broadly accurate," Nissan said in a press release. The Nikkei reported that the plunge was due to declines in US sales, and costs for developing electric vehicles and autonomous driving technologies weighed on profits. But Nissan added no official confirmation can be made before the announcement of results on Thursday. In May, it reported net profit fell to a near-decade low and warned of "a difficult business environment" for the next 12 months. The company has struggled in the US and Europe as it works to turn its fortunes around after former chief Carlos Ghosn was arrested for alleged financial misconduct.

Nissan confirms Q1 operating profit plunge

US ride-hailing company <a href="https://www.wionews.com/world/opinion-ubers-latest-ai-bid-could-lead-to-some-serious-consequences---144040">Uber</a> is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe's $500 billion trucking market.

Germany will be Uber Freight's second market to go live on the continent after the Netherlands, an executive told Reuters, with further expansion in prospect once operations are running smoothly in Europe's largest economy.

In the United States, Uber Freight already connects 48 states and generates more than $125 million in quarterly revenues.

Under maverick founder Travis Kalanick, Uber's earlier bid to establish its ride-hailing services in <a href="https://www.wionews.com/world/iran-must-stick-to-nuclear-commitments-warn-germany-uk-over-enriched-uranium-row-228119">Germany</a> met intractable opposition from taxi companies, politicians and the courts.

This time, led by Kalanick's successor Dara Khosrowshawi, Uber has consulted German officials and industry to win support for its freight business, said Daniel Buczkowski, Uber Freight's head of European expansion.

"After the change in leadership, we engaged in doing the right thing," Buczkowski, who is German, told Reuters.

Uber will compete with local players, including Berlin-based startup sender, which has raised $70 million from private equity house Lakestar and other investors at a $300 million valuation, and which already has a wider presence in Europe.

Other technology players in the freight forwarding sector include Flexport, a full-service platform based in San Francisco that raised $1 billion earlier this year from investors led by Japan's Softbank Group.

UK-based Zencargo and FreightHub, which like the sender is headquartered in Berlin, have also taken in investments of late.

Buczkowski sees Uber Freight's edge in its worldwide reach and proven technology. "As a global company we have the bandwidth to constantly innovate and create new products and features that support the entire marketplace," he said.

The freight platforms aim to digitalise an industry still dominated by firms running 10 or fewer trucks and to improve efficiency trucks are empty for 21 per cent of the distance they travel.

Other gains can come from real-time tracking of consignments, and the automation of payments in an industry where trucking firms often waste weeks chasing up invoices.

"The key to getting a lot of value out of this industry is understanding how to use those empty kilometres," said Nicolaus Schefenacker, a co-founder of the sender, which was set up in 2016.

He told Reuters that, as its network expanded, it was easier to model and forecast traffic flows to ensure consignments found the right truck at the right price. Although the freight tech sector is crowded, the market is segmented and the sender sees a clear opportunity in the so-called full-truckload market.

"The market is so huge that I think a lot of players are able to coexist. That's also the way we think about Uber Freight," Schefenacker told Reuters.

Unlike Uber's ride-hailing app or its food-delivery service, Uber Freight will operate as a middle-man in a market with an established pricing structure.

It will make money from the margin between the price paid by the shipper and the amount it pays on to the trucker, insulating it from the type of complaints made by many ride-hailing drivers who say they struggle to earn a decent income.

Uber, with a stock market capitalisation of $74 billion, aims to adapt its model used in the United States, where many truck drivers are sole operators, to Europe, where family-run firms predominate.

The apps still face challenges, ranging from environmental issues confronting an industry that runs on diesel to ensuring drivers are not overworked with long hours on the road.

The industry also needs new recruits, with the World Bank estimating two-thirds of German drivers will retire over the next decade, threatening a shortage in capacity for an industry that handles more than 70 per cent of freight.

US ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe's $500 billion trucking market.

US ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe's $500 billion trucking market. Germany will be Uber Freight's second market to go live on the continent after the Netherlands, an executive told Reuters, with further expansion in prospect once operations are running smoothly in Europe's largest economy. In the United States, Uber Freight already connects 48 states and generates more than $125 million in quarterly revenues. Under maverick founder Travis Kalanick, Uber's earlier bid to establish its ride-hailing services in Germany met intractable opposition from taxi companies, politicians and the courts. This time, led by Kalanick's successor Dara Khosrowshawi, Uber has consulted German officials and industry to win support for its freight business, said Daniel Buczkowski, Uber Freight's head of European expansion. "After the change in leadership, we engaged in doing the right thing," Buczkowski, who is German, told Reuters. Uber will compete with local players, including Berlin-based startup sender, which has raised $70 million from private equity house Lakestar and other investors at a $300 million valuation, and which already has a wider presence in Europe. Other technology players in the freight forwarding sector include Flexport, a full-service platform based in San Francisco that raised $1 billion earlier this year from investors led by Japan's Softbank Group. UK-based Zencargo and FreightHub, which like the sender is headquartered in Berlin, have also taken in investments of late. Buczkowski sees Uber Freight's edge in its worldwide reach and proven technology. "As a global company we have the bandwidth to constantly innovate and create new products and features that support the entire marketplace," he said. The freight platforms aim to digitalise an industry still dominated by firms running 10 or fewer trucks and to improve efficiency trucks are empty for 21 per cent of the distance they travel. Other gains can come from real-time tracking of consignments, and the automation of payments in an industry where trucking firms often waste weeks chasing up invoices. "The key to getting a lot of value out of this industry is understanding how to use those empty kilometres," said Nicolaus Schefenacker, a co-founder of the sender, which was set up in 2016. He told Reuters that, as its network expanded, it was easier to model and forecast traffic flows to ensure consignments found the right truck at the right price. Although the freight tech sector is crowded, the market is segmented and the sender sees a clear opportunity in the so-called full-truckload market. "The market is so huge that I think a lot of players are able to coexist. That's also the way we think about Uber Freight," Schefenacker told Reuters. Unlike Uber's ride-hailing app or its food-delivery service, Uber Freight will operate as a middle-man in a market with an established pricing structure. It will make money from the margin between the price paid by the shipper and the amount it pays on to the trucker, insulating it from the type of complaints made by many ride-hailing drivers who say they struggle to earn a decent income. Uber, with a stock market capitalisation of $74 billion, aims to adapt its model used in the United States, where many truck drivers are sole operators, to Europe, where family-run firms predominate. The apps still face challenges, ranging from environmental issues confronting an industry that runs on diesel to ensuring drivers are not overworked with long hours on the road. The industry also needs new recruits, with the World Bank estimating two-thirds of German drivers will retire over the next decade, threatening a shortage in capacity for an industry that handles more than 70 per cent of freight.

Uber freight launches in Germany, takes on local competition

Global trade tensions, continued uncertainty and rising prospects for a <a href="https://www.wionews.com/world/uk-lawmakers-vote-in-bid-to-frustrate-no-deal-brexit-236976">no-deal Brexit</a> are sapping the strength of the world economy, which faces a "precarious" 2020, the <a href="https://www.wionews.com/world/christine-lagarde-resigns-as-international-monetary-fund-chief-starting-race-for-her-successor-236536">International Monetary Fund</a> warned on Tuesday.

Trade conflicts are undercutting investment and weakening manufacturing, and the IMF urged countries to avoid using tariffs to resolve their differences.

In the quarterly update of its World Economic Outlook, the IMF trimmed the global forecast issued in April by 0.1 percentage point this year and next, with growth expected to hit 3.2 per cent in 2019 and 3.5 per cent in 2020.

But the report sounded the alarm, saying things could easily go wrong.

"Global growth is sluggish and precarious, but it does not have to be this way, because some of this is self-inflicted," IMF chief economist Gita Gopinath told reporters.

"Dynamism in the global economy is being weighed down by prolonged policy uncertainty as trade tensions remain heightened despite the recent US-China trade truce... and the prospects of a no-deal Brexit have increased," she said at a briefing in Santiago, Chile.

Gopinath warned that the recovery is seen next year "is precarious" because "close to 70 per cent of the increase relies on an improvement in the growth performance in stressed emerging market and developing economies and is therefore subject to high uncertainty."

However, the United States, which is at the centre of most of the trade tensions, saw one of the rare upgrades in the report, as it got a short-term boost from strong economic growth in the early part of the year.&nbsp;

The IMF raised the US GDP forecast by three-tenths of a percentage point to 2.6 per cent for 2019, but weakening demand, in part due to the trade conflicts and tariffs, points to "slowing momentum over the rest of the year."&nbsp;

US economic growth is expected to slow to 1.9 per cent in 2020.

China, which is the main target of US trade actions, was already experiencing a slowdown. But "the negative effects of escalating tariffs and weakening external demand have added pressure," the report said. A sudden slowdown in China is a key risk to the world economy.

The report downgraded Chinese growth by a tenth of a point this year and next, to 6.2 per cent and 6.0 per cent.

Avoid policy missteps

The IMF cautioned that there is an abundance of "potential triggers" for the situation to turn negative quickly, including the possibility of more US tariffs on China or on European autos, as well as a no-deal Brexit and high debt levels in many countries.

"While the tensions abated in June, durable agreements to resolve differences remain subject to possibly protracted and difficult negotiations," the report said.

Gopinath repeated the IMF calculation showing that the combined effect of tariffs imposed last year and potential tariffs threatened in May between the United States and China could reduce global GDP in 2020 by 0.5 per cent.

The latest forecast was once again full of downgrades, with small downward revisions for Germany and Japan, but much larger cuts for Brazil, Mexico, Russia, India and South Africa countries that were the engine for global growth in the wake of the 2008 financial crisis.

The IMF again stressed that resolving uncertainty remains the most pressing issue for the global economy and said governments should avoid "policy missteps" that could have "a severely debilitating effect on sentiment, growth and job creation."

And "countries should not use tariffs to target bilateral trade balances," the report said while recognizing that "trade disputes may be symptoms of deeper frustration with gaps in the rules-based multilateral trading system."

President Donald Trump and Chinese leader Xi Jinping in June agreed to a truce in their trade hostilities.&nbsp;

US Trade Representative Robert Lighthizer is set to lead a delegation to China on Monday for the first face-to-face meeting since talks collapsed in May, according to media reports.

Commerce Secretary Wilbur Ross said the "overriding objective" is to get a good deal, which "is much more important than exact timing."

Global trade tensions, continued uncertainty and rising prospects for a no-deal Brexit are sapping the strength of the world economy, which faces a "precarious" 2020, the International Monetary Fund warned on Tuesday.

Global trade tensions, continued uncertainty and rising prospects for a no-deal Brexit are sapping the strength of the world economy, which faces a "precarious" 2020, the International Monetary Fund warned on Tuesday. Trade conflicts are undercutting investment and weakening manufacturing, and the IMF urged countries to avoid using tariffs to resolve their differences. In the quarterly update of its World Economic Outlook, the IMF trimmed the global forecast issued in April by 0.1 percentage point this year and next, with growth expected to hit 3.2 per cent in 2019 and 3.5 per cent in 2020. But the report sounded the alarm, saying things could easily go wrong. "Global growth is sluggish and precarious, but it does not have to be this way, because some of this is self-inflicted," IMF chief economist Gita Gopinath told reporters. "Dynamism in the global economy is being weighed down by prolonged policy uncertainty as trade tensions remain heightened despite the recent US-China trade truce... and the prospects of a no-deal Brexit have increased," she said at a briefing in Santiago, Chile. Gopinath warned that the recovery is seen next year "is precarious" because "close to 70 per cent of the increase relies on an improvement in the growth performance in stressed emerging market and developing economies and is therefore subject to high uncertainty." However, the United States, which is at the centre of most of the trade tensions, saw one of the rare upgrades in the report, as it got a short-term boost from strong economic growth in the early part of the year. The IMF raised the US GDP forecast by three-tenths of a percentage point to 2.6 per cent for 2019, but weakening demand, in part due to the trade conflicts and tariffs, points to "slowing momentum over the rest of the year." US economic growth is expected to slow to 1.9 per cent in 2020. China, which is the main target of US trade actions, was already experiencing a slowdown. But "the negative effects of escalating tariffs and weakening external demand have added pressure," the report said. A sudden slowdown in China is a key risk to the world economy. The report downgraded Chinese growth by a tenth of a point this year and next, to 6.2 per cent and 6.0 per cent. Avoid policy missteps The IMF cautioned that there is an abundance of "potential triggers" for the situation to turn negative quickly, including the possibility of more US tariffs on China or on European autos, as well as a no-deal Brexit and high debt levels in many countries. "While the tensions abated in June, durable agreements to resolve differences remain subject to possibly protracted and difficult negotiations," the report said. Gopinath repeated the IMF calculation showing that the combined effect of tariffs imposed last year and potential tariffs threatened in May between the United States and China could reduce global GDP in 2020 by 0.5 per cent. The latest forecast was once again full of downgrades, with small downward revisions for Germany and Japan, but much larger cuts for Brazil, Mexico, Russia, India and South Africa countries that were the engine for global growth in the wake of the 2008 financial crisis. The IMF again stressed that resolving uncertainty remains the most pressing issue for the global economy and said governments should avoid "policy missteps" that could have "a severely debilitating effect on sentiment, growth and job creation." And "countries should not use tariffs to target bilateral trade balances," the report said while recognizing that "trade disputes may be symptoms of deeper frustration with gaps in the rules-based multilateral trading system." President Donald Trump and Chinese leader Xi Jinping in June agreed to a truce in their trade hostilities. US Trade Representative Robert Lighthizer is set to lead a delegation to China on Monday for the first face-to-face meeting since talks collapsed in May, according to media reports. Commerce Secretary Wilbur Ross said the "overriding objective" is to get a good deal, which "is much more important than exact timing."

International Monetary Fund downgrades world growth, warns of 'precarious' 2020

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