Democrats in the Senate are daring their GOP colleagues to vote against a $78 billion tax package that would expand the child tax credit and boost tax breaks for companies with large capital and domestic research expenditures. A procedural vote on the stalled bill, which passed the House in an overwhelmingly bipartisan vote in January … Read more
EURUSD is clinging to gains above the crucial support of 1.0800 on Tuesday as the Dollar remains under pressure due to firm market speculation that the Fed will start reducing interest rates in September. According to the CME FedWatch tool, traders see a 77% chance that interest rates will be lower than current levels in … Read more
The EURGBP pair is extending its decline to near 0.8465 in early European trading on Thursday. The Euro is edging lower as the softer Eurozone HICP inflation report prompted the expectation of interest rate cuts from the European Central Bank, while market players will closely monitor the UK general elections on Thursday. The upcoming UK … Read more
Debate beat: New Rules Helped Trump “Staged by CNN in an audience-free soundstage in which even competing reporters were banned, the Biden-Trump debate had more ground rules than an Ultimate Fighting match,” grumbles Politico’s Jack Shafer. In advance of the debate, “many assumed that these new rules would hurt Trump” given that “he feeds off live … Read more
France appears more divided than ever after the European election results, which saw Marine Le Pen’s National Rally secure the top spot, relegating Emmanuel Macron’s party to third place. This outcome forced the French president to call for early elections. The discontent with Macron is evident. Despite giving a vote of confidence to Marine Le … Read more
Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) won 240 seats in the general election, falling 32 seats short of an outright majority. The weakened majority could pose challenges for the government’s reform agenda, but policy continuity is expected to persist. Modi’s alliance won 293 seats, enough to form a government, but he may have to depend on regional parties for support. Despite a reduced victory margin for Modi in his own seat, necessary reforms are still feasible. The opposition INDIA alliance, led by Rahul Gandhi’s Congress party, won 230 seats and is expected to discuss a future course of action.
The political scene in Cyprus is currently lacking substance and meaningful discourse as the election approaches on June 9. Major parties are focusing on internal rivalries and ideological confrontations, neglecting important issues for discussion. The failure to address societal problems and engage in coherent political discourse is leading to voter alienation and a rise in support for options offering hollow populism and better marketing through social media.
Israeli troops and tanks entered parts of the northern Gaza Strip, killing and wounding dozens of Palestinians. The Israeli forces also took over ground in Rafah, a city by the Egyptian border. Benny Gantz threatened to resign if Netanyahu does not agree to a post-war plan for Gaza by June 8. The recovery of the body of a hostage taken by Hamas triggered the latest incursions. Israeli forces have continued operations in Gaza, conducting precise operations against terrorists and infrastructure. Netanyahu has faced criticism for failing to articulate an endgame in the war. Gantz proposed a six-point plan for Gaza’s civil administration. The strain on Israel’s coalition has increased, with demands for clarity on post-war plans. Armed groups attacked Israeli forces in Jabalia and Rafah, resulting in casualties on both sides. Israel’s military reported 281 soldiers killed in fighting, while over 35,000 Palestinians have been killed in Israeli strikes. UNRWA stated that nearly 800,000 Palestinians have fled Rafah since the ground operation began. Israel aims to capture Rafah to destroy Hamas and ensure security.
Fact: Hundreds of police fanned out across northern France on a massive manhunt for a fugitive gangster known as “The Fly” after he was sprung from a prison van by gunmen in an attack that killed two prison guards.
Geert Wilders, a Dutch nationalist, is close to reaching an agreement with his prospective right-wing government partners almost six months after his election victory.