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National Bank Charter: Crypto firm Ripple is applying for a national bank charter in the United to the Office of the Com...
21/09/2025

National Bank Charter: Crypto firm Ripple is applying for a national bank charter in the United to the Office of the Comptroller of the Currency (OCC).

Fed Master Account: The company is also seeking a Fed Master Account to gain direct access to the Federal Reserve's payment systems.

Goal: This would allow Ripple to hold its stablecoin reserves directly with the central bank.

Context: This move follows a similar application by the stablecoin company Circle.

21/09/2025

Trump issues vague threat to Afghanistan over Bagram air base

Trump's Threat: On Saturday, September 20, former US President Donald Trump threatened Afghanistan with "BAD THINGS" if it does not "give Bagram Airbase back" to the United States.

Platform: The threat was made in a post on his Truth Social platform.

Recent Comments: This follows his recent public statement during a state visit to the UK, where he said the U.S. is "trying to get it back."

Strategic Importance: Trump has often lamented losing the base, highlighting its strategic proximity to China.

Background: Bagram was the largest and most important U.S. military air base in Afghanistan during the nearly 20-year war.

21/09/2025

Argentina’s central bank makes biggest daily dollar sale in six years to curb peso slide

Massive Intervention: Argentina's central bank conducted its largest single-day dollar sale in nearly six years, selling $678 million to support the peso.

Sustained Pressure: The central bank sold a total of $1.1 billion over the last three sessions to meet high dollar demand from institutional investors.

Government Stance: Economy Minister Luis Caputo vowed to continue using central bank reserves to defend the peso's exchange rate band.

Political Uncertainty: Investor concern is growing ahead of October's midterm elections, which could weaken President Javier Milei's support in congress for his reform agenda.

Currency Performance: While the official wholesale peso remained stable, the informal "blue" market rate hit a record low of 1,520 per dollar, falling over 6% in one week.

Reserve Depletion Risk: Analysts warn that continuing this pace of dollar sales could deplete a significant portion of the country's net foreign exchange reserves (estimated at just $6 billion) before the elections.

Market Reaction: Argentina's country risk measurement rose to its highest level since August 2024, and over-the-counter bonds fell significantly. The main stock index in Buenos Aires also closed lower.

21/09/2025

A "risk management cut" due to a change in the NAIRU?

Federal Reserve Action: The Fed executed a "risk management cut" in interest rates, navigating a fine line between hoping for transitory tariff effects and addressing a weakening labor market.

Shift in Stance: Previously, the low unemployment rate prevented rate cuts due to inflation fears. The Fed's view shifted due to recent downward revisions in employment data and possible political pressure.

Labor Market Data Issues: The Fed Chairman explained that employment number revisions were due to inaccuracies in the Bureau of Labor Statistics (BLS) 'birth-death' model for businesses, which was significantly impacted by the COVID-19 pandemic and subsequent structural shifts in business formations.

Key Economic Theory Shift (NAIRU): The analysis suggests the Non-Accelerating Inflation Rate of Unemployment (NAIRU) may have changed. The current 4.3% unemployment rate is now believed to be higher than the NAIRU, indicating there is slack in the labor market.

Implication of NAIRU Shift: If there is slack in the labor market, it supports the view that wage pressures are no longer a primary driver of inflation. This gives the Fed more justification to lower interest rates without overheating the economy.

"Risk Management" Rationale: The rate cut is a precautionary measure because the Fed is not completely certain about the extent of slack in the labor market but is willing to act preemptively.

FOMC Unity: The decision was nearly unanimous, with only one dissenter, showing short-term unity. However, there is less agreement on the longer-term economic outlook.

19/09/2025

TOP NEWS Energy

- World oil market may be tighter than it looks, IEA says
- Saudi Arabia complying fully with voluntary OPEC+ target, energy ministry says
- Oil rises over 2% as investors weigh market outlook, tariffs, sanctions
- Venezuela’s PDVSA oil sales abroad hit $17.5 billion in 2024 as exports jump
- BP flags gas, oil price hit; higher upstream output in second quarter
- Exxon to borrow crude from US emergency stash amid Mars crude quality issue
- ANALYSIS – Soaring electric truck sales deal new blow to diesel use in China
- Taiwan’s CPC Corp eyes US shale gas assets, sources say
- Trump puts 35% tariff on Canada, eyes 15%-20% tariffs for others
- Russia plans to compensate for oil overproduction in August–September
- Brazil’s Petrobras names new head of energy transition and sustainability
- Eni, Dubai-based Khazna team up to build data center campus in Italy
- Lightning strike causes tank fire at Citgo’s Lake Charles refinery on Thursday
- India needs to boost its petchem output to counter China’s dominance, Reliance
- ‘All Crew Muslim’: ships look to dodge Red Sea attacks with messages

19/09/2025

TOP NEWS Commodities

- World oil market may be tighter than it looks, IEA says
- EU awaits Trump letter as markets digest latest tariff salvo
- Saudi Arabia complying fully with voluntary OPEC+ target, energy ministry says
- Oil rises over 2% as investors weigh market outlook, tariffs, sanctions
- INSIGHT – How a US mission to push a Trump deal in Congo unravelled
- ANALYSIS – Freeport-McMoRan poised to gain from Trump’s copper tariff against peers
- ANALYSIS – Soaring electric truck sales deal new blow to diesel use in China
- US sugar production estimate cut, demand also seen smaller, says USDA
- Venezuela’s PDVSA oil sales abroad hit $17.5 billion in 2024 as exports jump
- Taiwan’s CPC Corp eyes US shale gas assets, sources say
- GLOBAL LNG – Asian spot LNG prices inch up as hot weather boosts cooling demand
- EXCLUSIVE – MMG, Hudbay warn Peru copper output at risk amid wildcat protests
- Exxon to borrow crude from US emergency stash amid Mars crude quality issue
- BP flags gas, oil price hit; higher upstream output in second quarter
- ‘All Crew Muslim’: ships look to dodge Red Sea attacks with messages

19/09/2025

TOP NEWS Emerging Markets

- Trump says he will speak to Lula at some point as Brazil downplays tariff impact
- ANALYSIS – Soaring electric truck sales deal new blow to diesel use in China
- Rubio meets China’s Wang amid trade tensions, says good chance of Trump–Xi talks
- EMERGING MARKETS – Latam FX, stocks set for weekly losses as Trump’s tariff threats
- India, Australia trade talks hit dairy, wine tariff hurdles as year-end deadline nears
- POLL – China’s GDP growth set to slow, raising pressure on policymakers
- Argentina inflation seen accelerating in June after May slowdown
- Chinese banks stumble on Beijing’s consumer lending push
- POLL – India consumer inflation likely eased to over six-year low in June
- Danantara Indonesia to draw down $3 billion from $10 billion credit line
- INDIA STOCKS – India’s equity benchmarks log weekly losses as IT stocks drag

19/09/2025

One California worker dead, hundreds arrested after cannabis farm raid.

Farm worker dead from injuries sustained during raid, worker group says

Some 200 unauthorized workers arrested, says Department of Homeland Security

Farm industry faces uncertainty over immigration raids

Adds DHS comment in paragraph 16, court ruling in paragraphs 2, 22-23

By Leah Douglas

WASHINGTON, July 11 (Reuters) - A California farm worker died on Friday from injuries sustained a day earlier when U.S. immigration agents raided a cannabis operation and arrested hundreds of workers, according to a farm worker advocacy group.

Separately, a federal judge in California ordered the Trump administration to temporarily halt some of its most aggressive tactics in rounding up undocumented immigrants.

Dozens of migrant-rights activists faced off with federal agents in rural Southern California on Thursday. It was the latest escalation of President Donald Trump's campaign for mass deportations of immigrants in the U.S. illegally.

His administration has made conflicting statements about whether immigration agents will target the farm labor workforce, about half of which is unauthorized to work in the U.S., according to government estimates.

The Department of Homeland Security said approximately 200 people in the country illegally were arrested in the raid, which targeted two locations of the cannabis operation Glass House Farms.

Agents also found 10 migrant minors at the farm, the department said in an emailed statement. The facility is under investigation for child labor violations, Customs and Border Protection Commissioner Rodney Scott posted on X.

The company did not immediately respond to a request for comment.

The scene at the farm on Thursday was chaotic, with federal agents in helmets and face masks using tear gas and smoke canisters on angry protesters, according to photos and videos of the scene.

Several farm workers were injured and one died on Friday from injuries sustained after a 30-foot (9-meter) fall from a building during the raid, said Elizabeth Strater, national vice president of the United Farm Workers.

The worker who died was identified as Jaime Alanis on a verified GoFundMe page created by his family, who said they were raising money to help his family and for his burial in Mexico.

"He was his family's provider. They took one of our family members. We need justice," Alanis' family wrote on the GoFundMe page.

U.S. citizens were detained during the raid and some are still unaccounted for, Strater said.

DHS said its agents were not responsible for the man's death, saying that "although he was not being pursued by law enforcement, this individual climbed up to the roof of a green house and fell 30 feet." Agents immediately called for a medical evacuation, DHS said.

WARNINGS ON FOOD SUPPLY

California Rural Legal Assistance, which provides legal services and other support to farm workers, is working on picking up checks for detained Glass House workers, said directing attorney Angelica Preciado.

Some Glass House workers detained during the raid were only able to call family members after they signed voluntary deportation orders, and were told they could be jailed for life because they worked at a cannabis facility, Preciado said.

DHS spokeswoman Tricia McLaughlin rejected those allegations, saying in an emailed statement that "allegations that ICE or CBP agents denied detainees from calling legal assistance are unequivocally false."

Some citizen workers who were detained reported only being released from custody after deleting photos and videos of the raid from their phones, UFW President Teresa Romero said in a statement.

"These violent and cruel federal actions terrorize American communities, disrupt the American food supply chain, threaten lives and separate families," Romero said.

Farm groups have warned that mass deportation of farm workers would cripple the country's food supply chain.

In her most recent comments, Agriculture Secretary Brooke Rollins said there would be "no amnesty" for farm workers from deportation. Trump, though, has said migrant workers should be permitted to stay on farms.

U.S. District Court Judge Maame Frimpong granted two temporary restraining orders blocking the administration from detaining immigrants suspected of being in the country illegally based on racial profiling and from denying detained people the right to speak with a lawyer.

The ruling, made in response to a lawsuit from immigration advocacy groups, says the administration is violating the Fourth and Fifth Amendments to the Constitution by conducting "roving patrols" to sweep up suspected undocumented immigrants based on their being Latinos, and then denying them access to lawyers.

"What the federal government would have this Court believe -in the face of a mountain of evidence presented in this case - is that none of this is actually happening," Frimpong wrote in her ruling.

(Reporting by Leah Douglas in Washington; Additional reporting by Ted Hesson and Kanishka Singh in Washington, Kristina Cooke in San Francisco and Brad Brooks in Colorado; Editing by David Gregorio and Diane Craft)

19/09/2025



19/09/2025




19/09/2025

Australia says World Heritage listing to protect Indigenous carvings

SYDNEY, July 12 (Reuters) - Securing World Heritage status for Australia's Murujuga rock art will help protect the ancient Indigenous carvings, located in an industrial hub, the government said on Saturday.

The art, thought to be 50,000 years old, lies in a peninsula that has gas and explosives plants, highlighting the sensitive relationship between the nation's Indigenous culture and its economically vital resources industries.

UNESCO granted World Heritage status to the site in the Burrup peninsula on Friday after a "tireless nomination process", started in 2023, said Environment Minister Murray Watt.

"The Australian Government is strongly committed to World Heritage and the protection of First Nations cultural heritage," Watt said in a statement. "We will ensure this outstanding place is protected now and for future generations."

Peter Hicks, chair of the Murujuga Aboriginal Corporation, said the UNESCO listing was a means to protect the "extraordinary landscape".

The peninsula in the northwest of mineral-rich Western Australia state is home to two liquefied natural gas plants run by Woodside and fertiliser and explosives plants run by Norway's Yara International.

Australia's government in May extended the lifetime of Woodside’s largest gas plant in the region, the North West Shelf, until 2070. The extension will generate up to 4.3 billion metric tons of additional carbon emissions.

Scrutiny over the impact of Australia's resources industry on Indigenous heritage sites has been magnified since Rio Tinto, the world's biggest iron ore miner, destroyed the 46,000-year-old Juukan Gorge rock shelters as part of a mine expansion in 2020.

(Reporting by Sam McKeith in Sydney; Editing by William Mallard)

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