Democratic senators are urging a federal investigation into Elon Musk's communications with Russian officials, including President Vladimir Putin, citing national security concerns. They argue that Musk's ties to a U.S. adversary, while overseeing significant Pentagon contracts, raise questions about his reliability as a government contractor. The call for scrutiny comes amid heightened tensions between the U.S. and Russia, particularly in the context of Musk's role in the space industry and his security clearance.
Trump's potential tariffs could benefit the U.K. by sparing it from severe trade penalties, unlike the EU and China, due to a tighter trade balance focused on services. Analysts suggest that the U.K. might negotiate concessions or exemptions, raising hopes for a bilateral trade deal, despite skepticism about political will on both sides. The changing political landscape in the U.K. complicates negotiations, particularly regarding food standards and EU relations.
Oil prices could plummet to $40 a barrel in 2025 if OPEC+ reverses its production cuts, analysts warn, citing fears of a price war over market share. Current prices are around $72 for Brent and $68 for WTI, with a potential market surplus doubling if cuts are unwound. The outlook remains bearish, influenced by sluggish demand recovery and external supply increases, with predictions of Brent averaging $60 next year.
As the U.S. presidential election approaches, the stakes are high for countries like Ukraine and Iran, with candidates Trump and Harris presenting starkly different foreign policy approaches. Trump is seen as likely to adopt a hardline stance, potentially reducing support for Ukraine and escalating tensions with Iran, while Harris aims to continue Biden's diplomatic efforts and support for Ukraine. Both candidates pledge unwavering support for Israel, but their broader strategies could significantly impact global stability.
Japan's central bank is expected to continue its interest rate hike cycle despite the Liberal Democratic Party's recent electoral setback, which saw it lose its majority for the first time since 2009. Analysts believe that while political instability may delay hikes, sustained yen weakness could prompt action as early as December or January. The Bank of Japan's independence is seen as crucial, with expectations of corporate earnings growth supporting market optimism.
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