Yen slides ahead of Bank of Japan policy decision

The yen fell against the dollar ahead of a Bank of Japan decision Tuesday, with officials expected to hold interest rates steady but tweak their bond purchase policy.The central bank last year said it would scale down its huge purchases of government bonds — part of attempts to move away from a quantitative easing programme designed to banish stagnation and harmful deflation.It is now considering slowing the pace of these cutbacks, analysts and media reports said.”Slowing the bond taper will help keep interest rates lower than otherwise, providing support to the economy amid heightened trade uncertainty,” Carol Kong, an analyst at the Commonwealth Bank of Australia, told AFP.Speculation of such a move “intensified after a surge in the ‘super long’ Japanese Government Bond (JGB) yields in recent months”, she explained.The dollar surged higher than 145 yen in morning trade, compared with levels of around 144.30 yen on Monday.”The recent softening of the yen could already partly reflect expectations for a cautious policy update from the BoJ… alongside negative spill-overs for Japan from the Middle East conflict,” said Lee Hardman of MUFG.The BoJ is expected to keep its main interest rate around 0.5 percent, lower than the US Federal Reserve’s 4.25-4.5 percent.Bank officials began lifting borrowing costs last year after nearly two decades of ultra-loose monetary policies aimed at kick-starting torpid economic growth in Japan.”The BoJ will likely hold off on rate hikes until there is further clarity on US trade policy,” Kong said.Japan, a key US ally and its biggest investor, is subject to the same 10 percent baseline tariffs imposed on most nations plus steeper levies on cars, steel and aluminium.Trump also announced an additional 24 percent “reciprocal” tariff on Japan in early April but later paused it along with similar measures on other countries.Prime Minister Shigeru Ishiba said Monday there had been no breakthrough on a US trade deal after talks with President Donald Trump on the sidelines of the G7 summit in Canada.”We still believe the Bank may hike rates in the second half of the year as it remains committed to normalising monetary policy,” said Katsutoshi Inadome of SuMi TRUST.”We expect that domestic demand will remain solid and that there is a chance economic conditions will improve to the point where the BoJ can consider interest hikes,” he said.

Despite law, US TikTok ban likely to remain on hold

US President Donald Trump is widely expected to extend the Thursday deadline for TikTok to find a non-Chinese buyer or face a ban in the United States.It would be the third time Trump put off enforcing a federal law requiring its sale or ban, which was to take effect the day before his January inauguration.”I have a little warm spot in my heart for TikTok,” Trump said in an NBC News interview in early May.”If it needs an extension, I would be willing to give it an extension.”Trump said a group of purchasers is ready to pay TikTok owner ByteDance “a lot of money” for the video-clip-sharing sensation’s US operations.Trump has repeatedly downplayed risks that TikTok is in danger, saying he remains confident of finding a buyer for the app’s US business.The president is “just not motivated to do anything about TikTok,” said independent analyst Rob Enderle.”Unless they get on his bad side, TikTok is probably going to be in pretty good shape.”Trump had long supported a ban or divestment, but reversed his position and vowed to defend the platform after coming to believe it helped him win young voters’ support in the November election.”Trump’s not really doing great on his election promises,” Enderle maintained.”This could be one that he can actually deliver on.”- Digital Cold War? -Motivated by national security fears and belief in Washington that TikTok is controlled by the Chinese government, the ban took effect on January 19, one day before Trump’s inauguration, with ByteDance having made no attempt to find a suitor.TikTok “has become a symbol of the US-China tech rivalry; a flashpoint in the new Cold War for digital control,” said Shweta Singh, an assistant professor of information systems at Warwick Business School in Britain.”National security, economic policy, and digital governance are colliding,” Singh added.The Republican president announced an initial 75-day delay of the ban upon taking office.A second extension pushed the deadline to June 19.As of Monday, there was no word of a TikTok sale in the works.- Tariff turmoil -Trump said in April that China would have agreed to a deal on the sale of TikTok if it were not for a dispute over tariffs imposed by Washington on Beijing.ByteDance has confirmed talks with the US government, saying key matters needed to be resolved and that any deal would be “subject to approval under Chinese law”.Possible solutions reportedly include seeing existing US investors in ByteDance roll over their stakes into a new independent global TikTok company.Additional US investors, including Oracle and private equity firm Blackstone, would be brought on to reduce ByteDance’s share in the new TikTok.Much of TikTok’s US activity is already housed on Oracle servers, and the company’s chairman, Larry Ellison, is a longtime Trump ally.Uncertainty remains, particularly over what would happen to TikTok’s valuable algorithm.”TikTok without its algorithm is like Harry Potter without his wand — it’s simply not as powerful,” said Forrester Principal Analyst Kelsey Chickering.Meanwhile, it appears TikTok is continuing with business as usual.TikTok on Monday introduced a new “Symphony” suite of generative artificial intelligence (AI) tools for advertisers to turn words or photos into video snippets for the platform.”With TikTok Symphony, we’re empowering a global community of marketers, brands, and creators to tell stories that resonate, scale, and drive impact on TikTok,” global head of creative and brand products Andy Yang said in a release.

US forces still in ‘defensive posture’ in Mideast: White House

The White House insisted Monday evening that US forces remained in a “defensive” posture in the Middle East, despite a military buildup over the Israel-Iran war and a shock warning from President Donald Trump to evacuate Tehran.Trump’s brief warning on social media, without further details, raised speculation that the United States may be readying to join Israel in attacking Iran.Those suspicions rose further after it was announced that Trump would be leaving a G7 summit in Canada and returning to the White House a day early over the mounting Middle East conflict.But White House and Pentagon officials reiterated that US forces in the region remained in a “defensive” posture.White House spokesperson Alex Pfeiffer, replying to a post on social media that claimed the United States was attacking in Iran, said: “This is not true.””American forces are maintaining their defensive posture, and that has not changed,” he said.Pentagon Chief Pete Hegseth similarly told Fox News in a televised interview that “we are postured defensively in the region, to be strong, in pursuit of a peace deal, and we certainly hope that’s what happens here.”Earlier in the day, Hegseth had announced that he had “directed the deployment of additional capabilities” over the weekend to the Middle East.”Protecting US forces is our top priority and these deployments are intended to enhance our defensive posture in the region,” he wrote on X.His post on social media came after the aircraft carrier USS Nimitz was tracked leaving Southeast Asia on Monday, and amid reports that dozens of US military aircraft were heading across the Atlantic.A US defense official, speaking on condition of anonymity, confirmed that Hegseth had ordered the Nimitz Carrier Strike Group to the Middle East, saying it was “to sustain our defensive posture and safeguard American personnel.”The movement of one of the world’s largest warships came on day four of the escalating air war between Israel and Iran, with no end in sight despite international calls for de-escalation.

Trump makes hasty summit exit over Iran crisis

US President Donald Trump was on Monday leaving a Group of Seven summit early as he hinted of greater involvement in the Israel-Iran conflict and warned Tehran residents to evacuate.Before flying out of Canada in the middle of the G7 gathering, Trump took to social media to back Israel and issue an alert to the Iranian capital of nearly 10 million people.”Everyone should immediately evacuate Tehran!” he wrote on his Truth Social platform.At a group photo with fellow G7 leaders in the scenic mountain resort of Kananaskis, he said: “I have to be back as soon as I can. I wish I could stay for tomorrow, but they understand, this is big stuff.”White House Press Secretary Karoline Leavitt said that Trump would attend the leaders’ dinner before returning to the White House.The US president will miss a day of meetings that was expected to include discussions with the leaders of Ukraine and Mexico.He has repeatedly declined to say if the United States would participate in Israeli military action, although he says it was not involved in initial strikes.Trump told reporters before his decision was announced to leave early: “As soon as I leave here, we’re going to be doing something.”The president, who has praised Israel’s strikes despite his stated preference for diplomacy, said Iran would be “foolish” not to agree to a negotiated settlement.”It’s painful for both parties, but I’d say Iran is not winning this war, and they should talk, and they should talk immediately, before it’s too late,” Trump told reporters as he met Canadian Prime Minister Mark Carney.US forces in the Middle East remain in a defensive posture, a White House spokesman stressed. – Onus on Iran -Israel has struck major nuclear and military sites and killed leading commanders and nuclear scientists in Iran, which has responded with its own volley of drones and missiles on Israel.Canada and European leaders had hoped to draft a G7 statement on the crisis, but diplomats said that Trump had not committed the United States to joining it.Leaders of the club of industrialized democracies — Britain, Canada, France, Germany, Italy, Japan and the United States — have mostly backed Israel, but concern has mounted as the violence intensifies.French President Emmanuel Macron, speaking to reporters at the summit on Monday, pleaded with Israel to spare civilians in Iran.Any G7 statement would be expected to put the onus on Iran and stop short of calling for an immediate ceasefire.”We’ll highlight the legitimate right of the state of Israel to defend itself and we will also discuss potential additional measures to reach a diplomatic solution,” German Chancellor Friedrich Merz said.British Prime Minister Keir Starmer said that G7 leaders share concern about Iran’s nuclear program but also: “I do think there’s a consensus for de-escalation.”Iran, since Trump pulled out of an earlier nuclear deal in 2018, has ramped up uranium enrichment but not yet at levels to create an atomic bomb. Israel is widely known to have nuclear weapons but does not acknowledge them publicly.- Tariff talks -The summit at a wooded lodge under snow-topped mountains comes after months of tumult on the global stage since Trump’s return.Seeking to shatter a decades-old US-led global economic order, Trump has vowed sweeping tariffs on friends and foes alike although he has postponed implementation until July 9.But Trump voiced optimism about a resolution with Canada and signed documents with Starmer to confirm an agreement with Britain.Trump has previously mocked host Canada, stating that the vast but less populated neighbor should become the 51st US state.But Trump has appeared to show more respect to Canada since Carney, a staid former central banker, took over from the more flamboyant Justin Trudeau in March.Trump had taken office seeking diplomacy both on Iran and Ukraine, which Russia invaded in 2022.He has since voiced frustration that Russian President Vladimir Putin has not accepted a US proposal for a ceasefire.Trump said Monday that Putin was “very insulted” by Russia’s 2014 expulsion from the G8 and that if Russia were still a member, “you wouldn’t have a war right now.”

Trump makes hasty summit exit over Iran crisis

US President Donald Trump was on Monday leaving a Group of Seven summit early as he hinted of greater involvement in the Israel-Iran conflict and warned Tehran residents to evacuate.Before flying out of Canada in the middle of the G7 gathering, Trump took to social media to back Israel and issue an alert to the Iranian capital of nearly 10 million people.”Everyone should immediately evacuate Tehran!” he wrote on his Truth Social platform.At a group photo with fellow G7 leaders in the scenic mountain resort of Kananaskis, he said: “I have to be back as soon as I can. I wish I could stay for tomorrow, but they understand, this is big stuff.”White House Press Secretary Karoline Leavitt said that Trump would attend the leaders’ dinner before returning to the White House.The US president will miss a day of meetings that was expected to include discussions with the leaders of Ukraine and Mexico.He has repeatedly declined to say if the United States would participate in Israeli military action, although he says it was not involved in initial strikes.Trump told reporters before his decision was announced to leave early: “As soon as I leave here, we’re going to be doing something.”The president, who has praised Israel’s strikes despite his stated preference for diplomacy, said Iran would be “foolish” not to agree to a negotiated settlement.”It’s painful for both parties, but I’d say Iran is not winning this war, and they should talk, and they should talk immediately, before it’s too late,” Trump told reporters as he met Canadian Prime Minister Mark Carney.US forces in the Middle East remain in a defensive posture, a White House spokesman stressed. – Onus on Iran -Israel has struck major nuclear and military sites and killed leading commanders and nuclear scientists in Iran, which has responded with its own volley of drones and missiles on Israel.Canada and European leaders had hoped to draft a G7 statement on the crisis, but diplomats said that Trump had not committed the United States to joining it.Leaders of the club of industrialized democracies — Britain, Canada, France, Germany, Italy, Japan and the United States — have mostly backed Israel, but concern has mounted as the violence intensifies.French President Emmanuel Macron, speaking to reporters at the summit on Monday, pleaded with Israel to spare civilians in Iran.Any G7 statement would be expected to put the onus on Iran and stop short of calling for an immediate ceasefire.”We’ll highlight the legitimate right of the state of Israel to defend itself and we will also discuss potential additional measures to reach a diplomatic solution,” German Chancellor Friedrich Merz said.British Prime Minister Keir Starmer said that G7 leaders share concern about Iran’s nuclear program but also: “I do think there’s a consensus for de-escalation.”Iran, since Trump pulled out of an earlier nuclear deal in 2018, has ramped up uranium enrichment but not yet at levels to create an atomic bomb. Israel is widely known to have nuclear weapons but does not acknowledge them publicly.- Tariff talks -The summit at a wooded lodge under snow-topped mountains comes after months of tumult on the global stage since Trump’s return.Seeking to shatter a decades-old US-led global economic order, Trump has vowed sweeping tariffs on friends and foes alike although he has postponed implementation until July 9.But Trump voiced optimism about a resolution with Canada and signed documents with Starmer to confirm an agreement with Britain.Trump has previously mocked host Canada, stating that the vast but less populated neighbor should become the 51st US state.But Trump has appeared to show more respect to Canada since Carney, a staid former central banker, took over from the more flamboyant Justin Trudeau in March.Trump had taken office seeking diplomacy both on Iran and Ukraine, which Russia invaded in 2022.He has since voiced frustration that Russian President Vladimir Putin has not accepted a US proposal for a ceasefire.Trump said Monday that Putin was “very insulted” by Russia’s 2014 expulsion from the G8 and that if Russia were still a member, “you wouldn’t have a war right now.”

Mondial des clubs: des buts, des rouges et du bruit, chaud match nul (2-2) entre Boca et Benfica

Spectaculaire et engagé parfois à l’excès, le match entre Boca Juniors et Benfica a abouti à un résultat nul (2-2), après que l’équipe de Lisbonne a su remonter deux buts de retard, lundi à Miami, pour leur entrée au Mondial des clubs.L’opposition entre deux formations emblématiques de leur continent – Benfica, 38 fois champion du Portugal qui a perdu certes son lustre d’antan (vainqueur de la C1 en 1961 et 1962, cinq fois finaliste), Boca Juniors, 35 fois champion d’Argentine, six fois sacré en Copa Libertadores, la dernière fois en 2007 (six fois finaliste) – a tenu ses promesses.Au point qu’après le terne match nul (0-0) entre Palmeiras et le FC Porto dimanche, on la tient enfin la confrontation rappelant les grandes heures des joutes intenses entre équipes sud-américaines et européennes.Et il faut dire que pour ne rien gâcher, l’ambiance a été au rendez-vous dans les tribunes du Hard Rock Stadium, copieusement garni de 55.574 spectateurs, par les quelque 40.000 supporteurs argentins, qui n’ont jamais cessé de chanter et agiter leurs écharpes jaunes et bleues, donnant à l’enceinte floridienne des airs de Bombonera, le stade bouillant de Buenos Aires.Ces derniers ont exulté une première fois, quand l’attaquant Miguel Merentiel a ouvert le score en coupant au premier poteau une offrande du latéral gauche Lautaro Blanco, auteur sur l’action d’un délicieux petit pont sur son vis à vis (21e).Et les “Dale Boca, dale Bo !” (“Allez Boca, allez Bo !”) ont été hurlés deux fois plus fort, quand six minutes plus tard le milieu de terrain Rodrigo Battaglia a doublé le score du crâne, après une remise de la tête de son défenseur Ayrton Costa sur un corner (27e).Plus pragmatique, l’équipe de Buenos Aires venait de sanctionner la stérilité du jeu de passes de Benfica, mais allait ensuite donner le bâton pour se faire battre, avec le compatriote Nicolas Otamendi dans le rôle de bourreau.- Otamendi bourreau de Boca -Si les 45 premières minutes furent intenses, parfois un peu trop au niveau de l’engagement physique, le temps additionnel a été électrique. Une faute inutile du défenseur Carlos Palacios sur Otamendi après un corner a été sanctionné d’un penalty. Une décision qui a provoqué la colère du banc argentin, au point que l’arbitre, en allant visionner la VAR, a dû exclure le milieu défensif Ander Herrera, remplacé 25 minutes plus tôt, blessé.Placide après la cohue, l’autre Argentin de Benfica, Angel Di Maria a réduit le score pour les Lisboètes, finalement tout heureux de ne rentrer au vestiaire qu’avec un but de retard.Le second acte fut bien plus stérile en action de buts et surtout bien plus prolifique en mauvais gestes. Andrea Belotti a écopé d’un carton rouge pour un pied trop haut qui a heurté la tête d’Ayrton Costa, laissant l’équipe portugaise à dix pour les 25 dernières minutes. Et alors que Boca n’avait qu’à gérer son avance au score, c’est ce diable d’Otamendi qui a surgi sur un corner pour catapulter de la tête le ballon dans les filets (2-2, 84e).La frustration a alors vite gagné Boca Juniors et Jorge Figal, auteur d’une charge trop violente sur un adversaire, a aussi été renvoyé au vestiaire par l’arbitre, loin d’avoir passé une rencontre tranquille.”Nous savons comment est le football en Argentine…”, a réagi Angel Di Maria à propos de l’engagement parfois limite des joueurs de son pays. “En première période, nous n’avons pas bien joué, nous avions besoin d’en faire un peu plus. Lors de la seconde, nous nous sommes améliorés.”Les deux équipes se partagent la deuxième place du groupe C, derrière le Bayern Munich, qui a étrillé (10-0) les amateurs néo-zélandais d’Auckland dimanche.

OpenAI wins $200 mn contract with US military

The US Department of Defense on Monday awarded OpenAI a $200 million contract to put generative artificial intelligence (AI) to work for the military.San Francisco-based OpenAI will “develop prototype frontier AI capabilities to address critical national security challenges in both warfighting and enterprise domains,” according to the department’s posting of awarded contracts.The program with the defense department is the first partnership under the startup’s initiative to put AI to work in governments, according to OpenAI.OpenAI plans to show how cutting-edge AI can vastly improve administrative operations such as how service members get health care and also cyber defenses, the startup said in a post.All use of AI for the military will be consistent with OpenAI usage guidelines, according to the startup.Big tech companies are increasingly pitching their tools to the US military, among them Meta, OpenAI and, more predictably, Palantir, the AI defense company founded by Peter Thiel, the conservative tech billionaire who has played a major role in Silicon Valley’s rightward shift.OpenAI and defense tech startup Anduril Industries late last year announced a partnership to develop and deploy AI solutions “for security missions.”The alliance brings together OpenAI models and Anduril’s military tech platform to ramp up defenses against aerial drones and other “unmanned aircraft systems”, according to the companies.”OpenAI builds AI to benefit as many people as possible, and supports US-led efforts to ensure the technology upholds democratic values,” OpenAI chief executive Sam Altman said at the time.

G7 leaders urge Trump to ease off trade war

World leaders at the Group of Seven summit in Canada on Monday pushed US President Donald Trump to back away from his punishing trade war, arguing that it poses a risk to global economic stability.At a summit where host Canada worked to avoid stoking Trump’s anger, and with attention on events in the Middle East, leaders still urged the US president to reverse course on his plans to impose even steeper tariffs on countries across the globe as early as next month.Most countries represented at the G7 are already subject to a 10 percent baseline tariff imposed by Trump, with European countries and Japan also hit with additional levies on cars, steel, and aluminum.G7 leaders used the meeting to sit down with Trump one-on-one to make their case for the US leader to seal agreements that would eliminate the worse of the US tariff threat.In official sessions, the leaders also warned Trump that the tariffs could bring serious harm to the world economy.”Several participants asked to end the tariff dispute as soon as possible,” a senior German official told reporters on condition of anonymity.They argued that the dispute weakens the G7’s economies and “in the end will only strengthen China,” the official said.Trump used the meeting to officially sign a deal already announced in May with Britain, the first country to secure a trade pact with the US to avoid Trump’s threat of the crushing levies.”I like them. That’s the ultimate protection,” Trump told reporters after a meeting with British Prime Minister Keir Starmer on the G7 sidelines.At a media conference marking the deal, Trump opened a folder to display the signed agreement, only for the paperwork to slide out and spread across the ground.”Oops, sorry about that,” he said as Starmer scrambled to gather up the loose sheets and stuff them back in the folder.- ‘Get it done’ -The trade issue is of urgent interest to Canada after the Trump administration announced several additional levies on Canadian imports in recent months, throwing the economic future of America’s northern neighbor into deep uncertainty.After a meeting between Trump and Prime Minister Mark Carney, the Canadian government indicated that the two sides could reach a trade truce deal within the next 30 days.Japanese Prime Minister Shigeru Ishiba told reporters in Canada that he spoke to Trump for 30 minutes and discussed ways they could find a solution “in a manner that is in line with Japan’s national interests,” according to Japanese public broadcaster NHK.”As there are still some points where both sides disagree, we have not reached an agreement on the package as a whole,” Ishiba said.There were hopes that non-G7 countries expected at the meeting on Tuesday would also have their time with Trump, but this was dashed by the US leader’s decision to cut his attendance short due the Iran crisis.Leaders from South Korea, India, Brazil, and South Africa will arrive at the gathering at a resort in the Canadian Rockies with Trump already gone.Dozens of countries are locked in negotiations with Washington to clinch some sort of trade deal before the US imposes stinging reciprocal tariffs, threatened for July 9.Mexico, whose president Claudia Sheinbaum was also expected, is meanwhile seeking to renegotiate its three-way North American free trade agreement that also includes Canada.While there was little expectation that the summit would deliver a breakthrough in the trade negotiations between the US and the rest of the world, US Trade Representative Jamieson Greer was part of Trump’s delegation.A source at the summit said that French President Emmanuel Macron urged the American leader to quickly end the trade conflict once and for all.The European Commission handles trade negotiations for the 27-country bloc, and the EU’s trade chief Maros Sefcovic was also attending the summit, accompanying the delegation of EU Commission chief Ursula von der Leyen.The EU institutions are official members of the G7, and during the morning session, von der Leyen argued to the leaders that “tariffs — no matter who sets them — are ultimately a tax paid by consumers and businesses at home.”Von der Leyen also met with Trump one-on-one on trade issues in a sit-down that US officials said was at her request.”We instructed the teams to accelerate their work to strike a good and fair deal. Let’s get it done,” she said in a post on X.