World News Live Updates: European Markets Steady As Focus Shifts To US Economic Data

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Last Updated:September 01, 2025, 19:45 IST

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European Markets Steady As Focus Shifts To US Economic Data

Global markets displayed a mixed performance on Monday, with a Wall Street holiday allowing regional trends to dominate, according to a report in Reuters. While Chinese technology stocks experienced a surge, European shares remained steady, though long-dated government bonds in the region faced significant pressure. Investor attention is now squarely focused on a series of crucial US economic indicators due this week, culminating in the August non-farm payrolls report, which will be vital for gauging the Federal Reserve’s next policy moves. In Europe, political developments in France are also being monitored, as the government faces a potential confidence vote that could impact political stability.

Iraq Reopens Historic Al-Nuri Mosque in Mosul After ISIS Destruction

Iraq’s prime minister presided over the official reopening of the historic al-Nuri Grand Mosque and its leaning al-Hadba minaret in Mosul on Monday, eight years after the Islamic State (IS) group destroyed the landmark, AP said in a report. The reopening marks a significant milestone in the city’s recovery and is a cornerstone of the UNESCO-led ‘Revive the Spirit of Mosul’ initiative, which aims for broader urban and economic regeneration. The reconstruction was largely financed by a $50 million donation from the United Arab Emirates, highlighting international cooperation in post-conflict rebuilding. The event is viewed as a powerful symbol of national resilience and a step toward restoring stability, fostering community reconciliation, and enabling the sustainable return of displaced populations and the revival of economic activity in the region.

Two Dead and Eight Kenyan Officers Injured in Haiti Vehicle Accident

An accident involving two armored vehicles in Port-au-Prince, Haiti, has left two people dead and eight Kenyan police officers injured, AP said in a report. The injured officers are part of the recently deployed, Kenya-led Multinational Security Support (MSS) mission, which aims to help Haitian police combat rampant gang violence. According to mission spokesman Jack Ombaka, one of the fatalities was a civilian. Three of the injured officers were in serious condition and were airlifted to the neighboring Dominican Republic for treatment. The incident highlights the immediate operational challenges facing the international mission, which is critical for the efforts of Haiti’s Transitional Presidential Council to restore stability.

Genocide Scholars Organization Says Israeli Action In Gaza Is Genocide

The Association of Genocide Scholars (IAGS), the largest professional body of experts in the field, stated on Monday that Israel is committing genocide in Gaza, AP says in a report. This determination from the organization, which includes numerous Holocaust experts among its approximately 500 members, adds significant academic backing to the charge, which Israel has consistently rejected. The statement follows South Africa’s case against Israel at the Court of Justice (ICJ) and an ongoing investigation by the Criminal Court (ICC).

Guyana Election Underway With Billions In Oil Revenue At Stake

Voters in Guyana went to the polls on Monday for what is being called the country’s most consequential election in decades, as per a report in AP. The party that wins will oversee an estimated $10 billion in annual revenue from offshore oil and gas production. The election pits the country’s two dominant parties and a newcomer against each other as Guyana’s economy of nearly 900,000 people transforms from its traditional dependence on sectors like gold, sugar, and timber to a major oil producer.

Russia Suspected of Jamming EU Leader's Plane Radar over Bulgaria

A European official says Russia is suspected of jamming the radar of an unidentified European Union leader’s plane as it flew over Bulgaria, according to a report in AP. The incident, which involves interference with the aircraft’s crucial navigation and safety systems, occurs amid highly strained relations between the EU and Russia. This alleged act in the airspace of Bulgaria, a member of both the EU and NATO, raises significant concerns about aviation security and the integrity of the alliance’s air defenses on its eastern flank. The accusation, if substantiated, could lead to further diplomatic deterioration and potential new sanctions against Moscow.

New Zealand Eases Foreign Property Ban For Wealthy Investors

New Zealand will partially reverse a 2018 ban on foreign property buyers, allowing some wealthy overseas business investors to purchase a single high-value residential home, AP said in a report. Prime Minister Christopher Luxon announced the move on Monday, clarifying it applies to holders of the residency “golden visa” (Active Investor Plus Visa), which his government reintroduced in April. The original ban was implemented by the previous government to cool a runaway housing market, and this new policy is intended to attract more high-net-worth individuals and foreign capital to the country.

Japan And South Korea Report Hottest Summers On Record

Japan and South Korea have confirmed their hottest summers on record, a development that aligns with scientific warnings about the increasing frequency of extreme weather events due to climate change, according to a report in Al Jazeera. These unprecedented temperatures are part of a broader global trend, with 2023 having been the hottest year on record worldwide, a phenomenon exacerbated by the El Niño climate pattern. The implications of this extreme heat are significant, posing risks to public health systems, threatening agricultural output and food security, and placing immense strain on energy infrastructure due to heightened demand for cooling. Consequently, governments in the region face pressure to accelerate climate adaptation policies and invest in resilient urban planning.

Morocco Nears 2026 World Cup Berth As African Qualifiers Resume

Several African nations, including 2022 semi-finalist Morocco, are on the verge of securing their places in the 2026 FIFA World Cup as qualification matches resume this week, according to a report in Reuters. The Moroccan team, which set a new benchmark for the continent in Qatar, is among the familiar contenders poised to win its group and clinch one of the direct berths. The current qualifying campaign is taking place under a new format for the expanded 48-team World Cup, which has increased Africa’s guaranteed slots from five to nine, with a potential tenth spot available via an inter-confederation playoff. This expansion offers a greater opportunity for a wider range of African teams to compete on the global stage.

Strong Dollar and Visa Delays Dampen US Tourism

A significant downturn in international travel to the US is expected to extend beyond the summer, with forecasts showing a drop in arrivals from key regions like Western Europe, Asia, and Africa, AP says in a report. This decline is attributed to a combination of economic and logistical factors, including the sustained strength of the US dollar, which makes travel more expensive for foreign visitors. Other major deterrents include persistent and lengthy visa processing backlogs at US consulates worldwide and a slower-than-anticipated recovery in outbound tourism from crucial markets such as China. The trend has notable economic implications for the US tourism sector, border communities, and the broader economy, which are experiencing reduced foreign spending.

Stablecoins Could Trigger Taxpayer Bailouts, Warns Nobel Laureate

Nobel prize-winning economist Jean Tirole has warned that stablecoins, despite being perceived as safe assets, carry significant hidden risks for retail investors and could eventually trigger taxpayer-funded bailouts, the Financial Times says in a report. Tirole’s concern is that if a stablecoin becomes systemically important and fails, it could cause widespread financial contagion, forcing governments to intervene to prevent a broader economic collapse. This warning highlights risks such as inadequate or illiquid reserves backing the tokens, the potential for a stablecoin to lose its peg to a fiat currency, and the general lack of deposit insurance for investors. The statement comes as global regulators, including those in the EU and the US, are increasing scrutiny and developing comprehensive frameworks for crypto-assets following high-profile failures like the 2022 collapse of TerraUSD.

Mexican Cartels Escalate Violence With Military-Grade Weapons In Michoacán

Recent attacks in Mexico’s western state of Michoacán highlight the growing paramilitary power of drug cartels, which are increasingly using military weapons and tactics, The New York Times says in a report. Groups like the Jalisco New Generation Cartel (CJNG) are employing weaponized drones, IEDs, rocket-propelled grenades, and armored vehicles to assert control over strategic territories. This escalation represents a shift from traditional criminal activity to quasi-military operations that directly challenge the Mexican state’s authority. The violence in Michoacán is driven by competition over drug trafficking routes and the extortion of lucrative industries, leading to a severe humanitarian crisis with widespread civilian displacement and posing a significant risk to regional stability and foreign investment.

Women's Cricket World Cup Prize Money To Surpass Men's 2023 Purse

The Cricket Council (ICC) announced the winner’s purse for the next women’s 50-over World Cup will be $4.48 million, an amount that surpasses the prize money awarded to the winner of the men’s 2023 World Cup, according to a report in Reuters. The new prize money marks a substantial increase from the $1.32 million Australia received for winning the 2022 women’s edition. This move is part of the ICC’s commitment to achieving prize money parity for its men’s and women’s events and reflects growing commercial investment in women’s cricket.

Trump Plans Hefty Tariffs On Imported Pharmaceuticals

US President Donald Trump has announced plans to impose hefty import taxes on pharmaceuticals, a significant policy shift for a category of products largely spared during his previous tariff implementations on goods like steel and aluminum, according to a report in AP. For decades, imported medicine has generally been allowed to enter the United States duty-free, a practice that is now set to change. This move aligns with Trump’s broader ‘America First’ trade policy but risks creating higher drug prices for consumers and potential shortages if foreign manufacturers alter their supply chains to the lucrative US market.

US Shipbuilding Issues Stem From Lack Of Discipline, Says Former Admiral

A retired US Navy rear admiral has identified expensive labor and an undisciplined process as key factors hindering US shipbuilding capabilities, according to a report in The Washington Times. This assessment comes as China’s People’s Liberation Army Navy (PLAN) continues its rapid expansion, having already surpassed the US Navy in the number of warships. The US is concurrently struggling with a declining fleet size, production delays, and maintenance backlogs, which challenges its ability to meet its own naval targets. The admiral’s comments highlight systemic weaknesses within the US defense industrial base, which impacts the nation’s capacity to project power and maintain its strategic advantage, particularly against China in the Indo-Pacific.

South Korean Doctors' Strike Continues Over Medical School Quota

A widespread strike by thousands of South Korean medical residents and interns protesting a government proposal to increase medical school admissions by 2,000 students annually continues to disrupt the nation’s healthcare system, according to a report in The New York Times. Despite some individual doctors returning to work under government pressure, major medical associations have rejected government concessions, demanding a full withdrawal of the plan. The Yoon Suk-yeol administration maintains its firm stance, citing the need to address doctor shortages in rural areas and essential fields, while major hospitals face significant strain from staff shortages, leading to delayed surgeries and appointments. The ongoing dispute has left the healthcare system with a significant backlog and raises concerns about long-term damage and trust between the medical community and the government.

UK, Ireland And Netherlands Announce 2025-2026 Winter Storm Names

Meteorological services in the UK, Ireland, and the Netherlands have jointly announced the list of names for the 2025-2026 north Atlantic winter storm season, as per a report in The Guardian. The first three storms of the season will be named Amy, Bram, and Chandra. This initiative, part of a collaborative effort that began in 2015 to improve public safety communication, selected the 21 names from over 50,000 public suggestions. The naming of storms is a strategy to increase awareness of severe weather, which can help mitigate economic disruption and enhance preparedness for businesses and the public ahead of potentially damaging weather events.

Pakistan Army Helicopter Crashes in Gilgit-Baltistan, Killing Five

A Pakistan Army helicopter on a routine flight crashed in the Gilgit-Baltistan region on Monday, killing all five personnel on board, including two pilots and three technicians, AP said in a report. According to a regional government spokesman, the crash was apparently caused by a technical fault, after which the helicopter caught fire. This marks the second fatal military helicopter crash in the region within the last month, and authorities have launched an investigation into the latest incident.

North Korean Leader Inspects New Missile Factory Ahead Of China Visit

North Korean leader Kim Jong Un inspected a new weapons factory over the weekend as part of a plan to accelerate the mass production of missiles, according to a report in AP. The inspection on Sunday occurred ahead of Kim’s confirmed first visit to China, a trip announced by both nations last week. While North Korea’s state media did not disclose the factory’s location, it is possibly situated in the northern Jagang province, a known hub for the country’s munitions industry that borders China.

Man Arrested After Car Crashes Into Russian Consulate In Sydney

A 39-year-old man was arrested in Sydney after a car crashed into the Russian consulate building, The Japan Times said in a report. A police constable sustained a hand injury during the arrest. New South Wales Police are investigating the motive, including potential political links to the Russia-Ukraine conflict. The event has raised concerns about the security of foreign diplomatic missions in Australia and could add to existing diplomatic tensions between Canberra and Moscow, given Australia’s criticism of Russia’s actions in Ukraine.

UK Small Boat Crossings In August Fall To Lowest Level Since 2019

The number of migrants arriving in the UK via small boat crossings in August has dropped to the lowest monthly total for that month since 2019, as per a report in Financial Times. The UK’s Home Secretary is expected to hail the decline as evidence that “Labour’s plan to smash the gangs” is having an effect, a statement interpreted as a political move. This monthly decrease, however, is set against a backdrop of significantly higher overall annual crossing numbers compared to 2019. The reduction in August is also attributed to a combination of other factors, including increased enforcement by French authorities and seasonal weather patterns.

Pro-Israeli Influencers Use Misleading Videos To Claim Gaza Famine Is Staged

A pro-Israeli social media account named “Gazawood” has been disseminating claims that the severe famine in Gaza is staged, according to a report in France 24. The account supports its narrative by sharing videos of operational cafés and restaurants, suggesting no humanitarian crisis exists. However, the report debunks these claims, explaining that such isolated images are taken out of context and do not reflect the overall food situation. bodies like the Integrated Food Security Phase Classification (IPC) and the World Food Programme have confirmed catastrophic levels of food insecurity and imminent famine conditions, particularly in northern Gaza, due to severe aid restrictions and the ongoing conflict. This misinformation is part of a wider information war aimed at distorting public perception, undermining humanitarian aid efforts, and deflecting accountability for the crisis.

Second Explosion in a Week Targets Bank in Peru Amid Crime Surge

A powerful explosion on Sunday damaged a branch of the Mexican-owned Compartamos bank in Lima, marking the second such attack in under a week and highlighting a significant surge in crime and extortion across Peru, as per a report in AP. Police reported no victims from the Sunday blast, which follows a similar explosion early Friday that targeted another branch of the same bank. These incidents are part of a broader trend of escalating criminal tactics, including the use of explosives for intimidation in extortion rackets. The attacks raise concerns for Peru’s financial sector regarding increased security costs and could deter foreign investment, adding pressure on the government which has already declared states of emergency in several areas to combat the rising crime wave.

Judge Blocks US Government From Removing Guatemalan Children From Texas

A judge has blocked the US government from removing a group of Guatemalan children, some of whom had already been loaded onto planes at an airport in Harlingen, Texas, as per a report in AP. The court order temporarily halts the deportation, creating a significant legal challenge for US immigration enforcement policies. This intervention underscores the ongoing legal battles over the expedited removal of migrants, particularly vulnerable populations like children, and highlights the judiciary’s role in overseeing executive immigration actions.

Australia Risks Becoming 'Dumping Ground' For Forced Labour Goods, Warns Anti-Slavery Tsar

Australia’s first anti-slavery commissioner, Chris Evans, has warned that the country’s modern slavery laws are among the weakest in the developed world, risking it becoming a ‘dumping ground’ for goods made with forced labour, The Guardian says in a report. Evans, a former Labor senator and minister, stated that significant ‘blind spots’ in Australia’s legislative efforts lead to very few prosecutions. He also noted that some companies are ‘taking the mickey’ in their approach to mandatory reporting, which exacerbates the risk of Australia becoming a global laggard in combating modern slavery.

Chinese Student Denied US Entry Highlighting Persisting Restrictions

A 22-year-old Chinese student was questioned for hours and ultimately denied entry to the US upon arriving at a Texas airport for his studies at the University of Houston, as per a report in AP. The student, who had a full scholarship to study philosophy, reportedly had all his paperwork in order and was not in a sensitive technology field that typically raises security concerns. This incident highlights the ongoing scrutiny faced by Chinese nationals at US borders. While a Trump-era program known as the ‘China Initiative’ was ended by the previous Biden administration, other restrictions from Donald Trump’s first term, such as Presidential Proclamation 10043, were continued by the Biden administration and remain in effect.

UK Plans To Restrict Family Reunion Rights For Refugees

The UK government is set to announce significant changes to its asylum policy, making it more difficult for refugees to be joined by their family members, according to a report in The Guardian. Ministers plan to overhaul the family reunion policy, which officials reportedly believe is a key factor encouraging people to make irregular journeys across the English Channel. The new measures are part of a broader government strategy to address the ongoing and contentious issue of migration.

EU Has Precise Plan For Post-Conflict Troops In Ukraine

The European Union has a ‘pretty precise’ plan to send troops to Ukraine as part of a post-conflict security guarantee, a move with significant political and strategic implications for the region, according to a report in the Financial Times. European Commission President Ursula von der Leyen stated the plan, which is explicitly for deployment after the cessation of hostilities, will be ‘fully backed by US commitments’. This development signals a concrete step towards establishing a robust, long-term security architecture for Ukraine, potentially impacting future investment and reconstruction efforts by providing a deterrent against future aggression. It clarifies the nature of potential European troop involvement, distinguishing it from earlier discussions about sending forces into an active conflict.

Houthi Rebels Claim Missile Landed Near Oil Tanker In Red Sea

Yemen’s Houthi rebels have claimed responsibility for launching a missile at an oil tanker off the coast of Saudi Arabia in the Red Sea, as per a report in AP. Houthi military spokesman Yahya Saree announced the attack, stating the missile landed near the Liberian-flagged vessel, the Scarlet Ray. The group alleged the tanker had ties to Israel, continuing its campaign of targeting shipping in the crucial global waterway, which has significant implications for maritime security and global energy supply chains.

Vietnam Displays Unity With Flags Ahead Of 80th Day

Balconies throughout Hanoi, from French colonial villas to modern towers, are being adorned with the national flag in a widespread display of unity ahead of Vietnam’s 80th Day on September 2, as per a report in AP. The event, which commemorates the country’s 1945 independence from French colonial rule, sees the ubiquitous display of the red flag with a central yellow star, visually bridging architectural and historical divides. This patriotic demonstration is part of larger state-organized celebrations aimed at reinforcing national pride. The projection of unity and stability aligns with Vietnam’s economic narrative as it continues to attract foreign investment and position itself as a key global manufacturing hub, potentially enhancing its appeal to tourists and investors.

Europe Bolsters Space Ambitions With New Swedish Launch Facility

A new spaceport in Kiruna, Sweden, is central to Europe’s efforts to achieve strategic autonomy in space and compete with global powers like the US, China, and Russia, AP says in a report. This push for sovereign launch capability has been intensified by geopolitical factors, including the ‘America First’ policies of the current US Trump administration and the halt of Russian Soyuz launches from Europe’s Kourou spaceport following Russia’s 2022 invasion of Ukraine. Compounded by internal setbacks such as delays in the Ariane 6 program, the Swedish facility is positioned to enhance European security and serve the burgeoning commercial market for small satellites, providing a crucial domestic launch option for a growing ecosystem of private European space companies.

Ireland Contacts Germany Over Police Violence At Pro-Palestinian Protest

Ireland’s Department of Foreign Affairs has contacted German authorities after a police officer was filmed hitting an Irish woman during a pro-Palestinian demonstration in Berlin, according to a report in Deutsche Welle. The incident has prompted an official diplomatic inquiry from Dublin to Berlin. In response, German police have stated they are conducting an internal investigation to assess the proportionality of the officer’s use of force during the protest.

Yanguan China Sets Guinness World Record For Mass Drumming Event

A new Guinness World Record for the ‘Most People Drumming Together to Greet the Tide’ was set in Yanguan, China, on August 26, AP says in a report. The event, which saw numerous participants play African drums to welcome the Qiantang River tide, was the highlight of the Yanguan Percussion Art Week. This initiative is part of the city’s broader strategy to establish itself as a ‘global music destination’ by combining its unique natural spectacle with large-scale cultural events to attract tourism and stimulate the local economy.

High-Potency California Cannabis Fuels Illicit Smuggling Trend To The UK

High-strength cannabis from California is being illegally smuggled in large quantities to the UK, where the ‘Cali Weed’ brand is increasingly popular, according to a report in The New York Times. This illicit trade is reportedly fueled by an oversupply and declining wholesale prices in California’s legal market, creating a significant economic incentive to divert high-potency products to the UK’s robust illicit market where prices are higher. Officials state that smugglers are frequently using commercial passenger flights to transport the contraband. The trend poses challenges for UK law enforcement and border agencies and raises public health concerns due to the circulation of unregulated, high-potency cannabis products.

China's Manufacturing Activity Rebounds in August, Beating Estimates

China’s manufacturing activity unexpectedly returned to growth in August, expanding at its fastest pace in five months, as per a report in CNBC. A private survey indicated the rebound was supported by a recovery in new orders and export business. This positive economic data comes amid a period of relative stability in trade relations with the US, which has seen no major new tariff escalations. The survey, identified as the Caixin/S&P Global Manufacturing PMI, primarily reflects the activity of smaller, privately-owned, and export-oriented firms.

China Enforces Stricter Pension Contributions For Businesses Amid Demographic Crisis

Starting September 1, businesses in China face mandatory enforcement of pension contribution laws, a move designed to address the country’s deepening demographic crisis and aging population, according to a report in Financial Times. The stricter enforcement comes as Chinese companies are already navigating significant economic headwinds, including a property crisis and weak consumer demand. The policy aims to alleviate fiscal pressure on local governments and ensure the long-term solvency of the national pension fund, but it is expected to increase operating costs for businesses, particularly small and medium-sized enterprises, potentially impacting profitability and hiring.

French Business Leaders Warn Of Recession Risk Amid Political Turmoil

Business leaders in France are expressing growing concern over the risk of a recession due to deepening political turmoil and fiscal discord that has unsettled financial markets, the Financial Times says in a report. The alarm follows Prime Minister Elisabeth Borne’s decision to invoke Article 49.3 of the constitution to pass the budget bill without a parliamentary vote, a move that highlights the government’s fragile political position and triggers no-confidence motions. This political instability exacerbates existing economic pressures, including scrutiny from credit rating agencies over the country’s public finances and wider economic headwinds across the Eurozone, leading company chiefs to fear a slowdown in investment and economic activity.

Enforcing Australia's Social Media Ban On Minors Is Possible But Risky, Report Finds

A report examining the feasibility of enforcing a social media ban for children in Australia has found that while it is possible, all technological enforcement options come with significant shortcomings and risks, BBC said in a report. A trial of the various technology options found issues with all of them, raising concerns about privacy, data security, and accuracy. The report is part of a broader government initiative to implement robust age verification for social media, reflecting a global trend in online child safety legislation.

Asian Shares Mixed As Positive China Factory Data Boosts Markets

Asian stock markets presented a mixed performance on Monday, with Chinese markets gaining following the release of surveys indicating a slight improvement in the country’s factory activity, AP said in a report. This positive manufacturing data suggested the sector is holding up against the pressure of higher US tariffs. Reflecting the improved investor sentiment in the region, Hong Kong’s Hang Seng index jumped by 2% to reach 25,573.

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