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State of the Union: Credit Suisse lifeline and Putin hosts Xi

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State of the Union: Credit Suisse lifeline and Putin hosts Xi

The week began with a give attention to the Swiss banking sector, the world’s main wealth administration centre, after the federal government compelled by means of the takeover of failing funding large Credit score Suisse by its rival UBS.

This was after stripping shareholders of their voting rights to get the deal over the road, leaving the tiny nation with one mega-bank that has €1.6 trillion of mixed property, roughly twice the scale of the Swiss financial system.

EU authorities had been fast to level out the wholesome distinction between their banks and our banks.

“We’re very assured that our banking sector is strong, is well-capitalised, has sturdy liquidity ratios and that the principles that apply in Europe should not the principles which have been utilized by different establishments, notably by the Swiss authorities,” Christine Lagarde, European Central Financial institution President, stated on Monday.

“Switzerland doesn’t set requirements in Europe.”

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Xi goes to Moscow

Russian President Vladimir Putin additionally hosted his Chinese language counterpart, Xi Jinping, this week and the Kremlin pulled out all of the stops, with the journey lasting for 3 days. 

His go to was a strong political increase for Putin, during which the 2 nations pledged to strengthen their strategic ties and fight the West. When it got here to supplying Moscow with weapons although, there was no point out of it.

Xi additionally promoted his peace plan for Ukraine whereas in Moscow, which Putin warily endorsed on Tuesday, saying it might present the idea for future negotiations.

Politically, each leaders hailed a “new period” of their relationship, placing on a united entrance towards the West. Xi noticed himself as being on a peace mission with proposals to finish the battle in Ukraine – though the phrase “battle” was by no means talked about.

NATO Secretary Normal Jens Stoltenberg was skeptical in his response.

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“China, due to this fact, must begin to perceive Ukraine’s perspective and to interact with President Zelenskyy immediately if it desires to be critical about peace,” he stated.

It appears clear what Russia desires from China, however what does China need from Russia? What position does China need to play in Ukraine diplomacy and past?

Reinhard Bütikofer, a Inexperienced member of the European Parliament stated in an interview that the Chinese language need to current themselves as makers of a brand new world order. 

“Xi Jinping is pushed by an obsession with making China the globally dominating energy by no less than 2049, 100 years after the founding of the Folks’s Republic,” the German MEP instructed Euronews.

“He stated so in lots of speeches and I believe we right here in Europe and, in fact, america and all our companions and allies ought to take that ambition very significantly.”

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Bütikofer added that the EU should cope with Beijing as successfully as doable.

“We should always deal with China because the systemic drawback that the nation is, as we’ve got understood over quite a lot of years now. China isn’t sharing our worldview. China isn’t sharing our rules. 

“We are able to, in fact, cooperate with a systemic drawback, we are able to compete in the event that they persist with the principles of the competitors, however we must always not idiot ourselves that China, in a method or one other, may be seen as a backyard number of some totally different understanding of multilateralism or rule of legislation or democracy. They’re simply the alternative of all of that.”

EU summit flies below the radar

European leaders gathered in Brussels Thursday and Friday for what turned out to be an underwhelming occasion in comparison with latest ones.

The summit was purported to give attention to the continent’s financial scenario, in addition to its competitiveness, and assist for the battle in Ukraine, however quarrels between member states not formally on the agenda boiled over into it.

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A standoff is ongoing between Berlin and Brussels over the problem of combustion engines and e-fuels, after Germany reneged on an already settled legislative settlement on the matter.

The proposed legislation targets emissions detected on the exhaust pipeline, which suggests it should successfully ban new gross sales of diesel and petrol vehicles by 2035.

Thought-about one of many key items of the European Inexperienced Deal, the legislation has been divisive since its inception however managed to outlive negotiations between the EU Council and the European Parliament, a course of often called “trilogues” in Brussels parlay as a result of in addition they contain the European Fee, the institute that initiates and drafts laws.

Throughout a press convention on Thursday, European Parliament President Roberta Metsola – who attended the leaders’ summit partially – stated that rowing again on selections mustn’t occur.

“We can’t return on offers as a result of that is finally about belief between co-legislators and the credibility of the legislative course of.”

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Nuclear energy and its position within the decarbonisation of the European Union is proving divisive among the many bloc’s member states and has change into one more level of rivalry chipping away on the Franco-German alliance.

The problem was not meant to be debated by leaders as they met in Brussels on Thursday and Friday but loomed massive over competitiveness and financial talks with France squaring off towards Germany and allies Austria and Luxembourg.

Paris desires nuclear to be recognised as a low-carbon power supply to ensure that it to profit from a loosening of guidelines the EU is pushing by means of to ramp up the deployment of unpolluted tech so it will possibly wean itself off imported fossil fuels, decrease power costs for shoppers and companies and attain its ambition of changing into the primary carbon-neutral continent by 2050.

The Fee has put ahead a number of texts below its newly-released Inexperienced Deal Industrial Plan to permit member states to offer extra state support and slash pink tape for tasks involving inexperienced applied sciences together with renewables, hydrogen infrastructure, warmth pumps, geothermal power and carbon seize and storage.

Underneath the proposals, “innovative nuclear” has entry to some simplified guidelines and incentives, Fee chief Ursula von der Leyen stated on Thursday, “however solely, solely the web zero applied sciences that we deem strategic for the longer term, like photo voltaic panels, batteries and electrolysers, for instance, have entry to the complete benefits and advantages.”

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Israel says 10 killed in rocket attack on occupied Golan Heights

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Israel says 10 killed in rocket attack on occupied Golan Heights

At least 10 people have been killed and 20 others wounded in a rocket attack on a football pitch in the town of the Majdal Shams in the Israeli-occupied Golan Heights, Israeli authorities said.

Israel’s military spokesman Daniel Hagari said children were among those killed and accused the Lebanese group Hezbollah of carrying out the attack on Saturday, but the group denied any involvement.

“Our intelligence is clear. Hezbollah is responsible for the killing of innocent children,” Hagari said.

“We will prepare for a response against Hezbollah … we will act,” he said.

Hezbollah swiftly denied responsibility for the attack on Saturday. The group said in a statement it “categorically denies the allegations reported by certain enemy media and various media platforms concerning the targeting of Majdal Shams”.

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“The Islamic Resistance has no connection to this incident,” it said, referring to its military wing.

The Iran-aligned group has been exchanging fire with Israeli forces in areas near the Israel-Lebanon border since October 8, when Israel launched its war on Gaza.

People react after a rocket hit the town of Majdal Shams [Jalaa Marey/AFP]

The cross-border attacks, which Hezbollah said it launched in solidarity with the Palestinian people amid Israel’s war on Gaza, have led to fears of a larger regional conflagration.

Israel’s Prime Minister Benjamin Netanyahu’s office said he would fly home early from his trip to the United States, where he met several senior US officials.

“Immediately upon learning of the disaster in Majdal Shams, Prime Minister Benjamin Netanyahu directed that his return to Israel be brought forward as quickly as possible,” Netanyahu’s office said in a post on X.

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Lebanon’s government in a statement urged the “immediate cessation of hostilities on all fronts” and condemned attacks on civilians.

Fears of escalation

Reporting from Qatar, Al Jazeera’s Hamdah Salhut said Saturday’s attack was one of the deadliest single incidents since the cross-border fire began and comes amid growing fears of an escalation.

“Hezbollah is saying this isn’t from them, whereas the Israelis immediately said it was them,” she said, adding that neither side wants an all-out war, “but both sides have said they are prepared for it.”

Gideon Levy, a columnist for the Israeli newspaper Haaretz warned that “now things can really get out of control”.

“It’s a dramatic moment. We don’t know what will be next. There is a lot of uncertainty. The coming hours will be decisive,” he told Al Jazeera.

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“I don’t see Israel ignoring this incident.”

Political analyst Ori Goldberg said he believed it was unlikely the attack would lead to an “all-out war” between Israel and Hezbollah.

“Both sides don’t want an all-out war, this has been made abundantly clear”, he told Al Jazeera, and noted that the attack took place on Israel’s periphery, rather than in its heartland. “I don’t think that this will be enough to take us to an all-out war,” he said.

The attack on the football pitch followed an Israeli attack in Lebanon that killed four fighters on Saturday.

Two security sources in Lebanon said the four fighters killed in the Israeli attack on Kfar Kila in southern Lebanon were members of different armed groups, with at least one of them belonging to Hezbollah.

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The Israeli military said its aircraft had targeted a military structure belonging to Hezbollah after identifying fighters entering the building.

Hezbollah claimed it carried out at least four attacks, including with Katyusha rockets, in retaliation for the Kfar Kila attacks.

The Golan Heights, a 1,200sq-kilometre (463sq-mile) plateau, is Syrian territory that Israel occupied in 1967 after the Six-Day War, before annexing it in 1981, a move the United Nations Security Council unanimously condemned.

Many residents in the territory are Syrian Druze, some of whom have Israeli citizenship.

INTERACTIVE - Israel-Lebanon cross-border attacks June-1719467423
[Al Jazeera]
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Continued rain postpones skateboarding, delays tennis at Paris Olympics

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Continued rain postpones skateboarding, delays tennis at Paris Olympics

PARIS (AP) — Rain that fell throughout the opening ceremony continued on Saturday, leading to postponements and delays at the Paris Olympics.

The first event of the skateboarding competition, men’s street skateboarding, was postponed from Saturday until Monday because of the showers. The women’s event is scheduled for Sunday.

Skateboarding is held at the outdoor venue of La Concorde Urban Park in Paris. World Skate, the sport’s governing body, cited adverse weather conditions for the move.

Rain has been one of the big stories early in the Games after constant showers and occasional downpours served as the backdrop for the opening ceremony. As of 10 a.m. CEST (4 a.m. ET), much of the rain had cleared from the area.

The start of play in the scheduled tennis matches on the 10 smaller courts at Roland Garros was delayed because of rain, but action was able to get going in the two main stadiums, which both have retractable roofs. That included the match at Court Philippe Chatrier between No. 1 Iga Swiatek of Poland – who has won four of the past five French Open titles at the same site being used for the Olympics – and Irina-Camelia Begu of Romania.

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Sunny skies are expected to return to the area Sunday, but the rain could have a lasting impact on the Paris Games.

The rain could threaten the water quality for swimming in the Seine when the triathlon begins Tuesday. Tony Estanguet, head of the Paris 2024 organizers, addressed the situation at the daily press briefing.

“We are still looking at the forecast for the coming days,” Estanguet said. “They expect that it will rain till 5 p.m. today and then it should be fine.

“The team is very confident that it will be possible to have the (triathlon) swimming part in the Seine.”

The triathlon begins with the men’s event Tuesday, swimming from 8 a.m. CEST (2 a.m. ET) at the Alexander III bridge next to Grand Palais.

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AP Sports Writers Graham Dunbar and Steve Whyno and AP Tennis Writer Howard Fendrich contributed to this story.

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AP Summer Olympics: https://apnews.com/hub/2024-paris-olympic-games

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Australian surfer saved by off-duty police officer after shark ripped off leg, doctors hope to reattach it

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Australian surfer saved by off-duty police officer after shark ripped off leg, doctors hope to reattach it

Kai McKenzie, 23, was surfing off New South Wales in Australia when he was attacked by a shark, New South Wales police said. 

“Clinging to life, he was able to catch a wave back to the beach,” a fundraising site set up for McKenzie said. “A retired police officer used his dog’s lead as a tourniquet to stem the bleeding before the victim could be airlifted to hospital.”

Amazingly, McKenzie’s leg washed up on the beach after the attack and doctors are hoping to be able to reattach it. 

McKenzie has undergone surgery and remains in critical but stable condition, according to ABC News Australia and the fundraising site. 

MASSIVE BULL SHARK WEIGHING NEARLY 500 POUNDS CAUGHT AT ALABAMA FISHING TOURNAMENT

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Kai McKenzie, 23, was surfing off New South Wales in Australia when he was attacked by a shark, New South Wales police said.  (NSW Police)

Luke Short, who makes McKenzie’s surfboards, told ABC they had all hoped “we heard it wrong.”

“It’s amazing that he’s survived,” he added. 

His surf team RAGE called McKenzie the “toughest person we know.”

“Sending love to @kai_mckenzie the youngest RAGE boy on the team and the toughest person that we know,” the team wrote on Instagram this week. “Yesterday he was attacked by a shark and has lost his leg while surfing in Port Macquarie. He has been through a lot breaking his back last year, he never once complained always just got on with doing what he loved as soon as possible. He is an inspiring person. The whole rage gang loves you man and we will see you soon.”

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SHARK BITE REPORTED AT HILTON HEAD ISLAND RESORT IS FIRST REPORTED SHARK BI OF YEAR ON ISLAND

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“Clinging to life, he was able to catch a wave back to the beach,” a fundraising site set up for McKenzie said. “A retired police officer used his dog’s lead as a tourniquet to stem the bleeding before the victim could be airlifted to hospital.” (Reinhard Dirscherl/ullstein bild via Getty Images)

Kirran Mowbray of NSW Ambulance called McKenzie “courageous” during a 7News Sydney on-air broadcast. “He turned around, caught a wave into shore.”

She added that the off-duty officer “used the lead off a dog as a tourniquet to wrap around the young man’s leg and essentially saved his life.”

Kevin Young, vice president of Bite Club, a shark attack survivors club, told the broadcast: “And I know he lost a leg and they packed it with ice and they’re going down to try to reattach it. That just blows my brain that that might be possible.” 

Mid North Coast Police Chief Insp. Stuart Campbell said they would be working to try to find out what type of shark bit McKenzie. 

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Port Macquarie Hastings Lifeguards later reported the beach had reopened after the attack. 

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