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Aug 17, 2026 - World

President said he was ‘not happy’ with plans for large-scale joint exercises he described as ‘inappropriate and hostile’. Plus, how five obscure horses have ended up at the center of a transatlantic betting mysteryGood morning. Donald Trump has said he is scaling back joint US military drills with South Korea aimed at deterring North Korea, despite military officials from both countries warning that Kim Jong-un’s regime is learning new battlefield tactics from the Ukraine war.The president said he was “not happy” with US participation “based on my very good relationship with Kim Jong-un”. He added that the drills were costly and “send a signal that is totally inappropriate and hostile, to a country that, as long as Donald J Trump has been president, has been unthreatening and respectful”. Trump added that it was too late to cancel the drills so he had ordered the defense secretary, Pete Hegseth, to “substantially reduce” them.Why are there continuing concerns about USS Abraham Lincoln? Democrats have intensified their demands for answers from the Trump administration over conditions onboard the USS Abraham Lincoln amid concern over crew morale, mental health and living conditions. Ruben Gallego, a Democratic senator from Arizona, said he blamed the carrier’s prolonged deployment on the unresolved war that Donald Trump started in February with Iran as well as lackluster leadership in general from the Republican president’s administration. Continue reading...

Aug 17, 2026 - World

Exclusive: Raúl Torrez is drafting two bills with state lawmakers to bolster consumer protections and child safety online, building on state’s landmark case against MetaNew Mexico’s attorney general is mounting a full-court press against technology companies to improve their child safety measures, capitalizing on a landmark win in court against Meta earlier this year.Raúl Torrez is working with state lawmakers to draft two new bills he says will strengthen consumer protections and child safety online. The legislation, expected to be announced in the coming weeks, will build on the state’s case against the parent company of Facebook, WhatsApp and Instagram. A jury found in March that the company misled its users about the safety of its platforms and enabled harm, including child sexual exploitation. The social media giant was fined nearly $1bn as a result of the case. Continue reading...

Aug 17, 2026 - World

Coalition leader tells Anthony Albanese that delaying change to budget measure is ‘unconscionable’Get our breaking news email, free app or daily news podcastAngus Taylor says the Coalition will only support the Albanese government’s proposed overhaul of the NDIS if it first removes the “widow tax” loophole from its changes to taxing investment properties.The warning comes as the Albanese government hopes to land a deal with the opposition this week in order to pass the bill in the Senate after the Greens ruled out supporting changes to the scheme that are expected to boost the federal budget’s bottom line by $37.8bn over four years. Continue reading...

Aug 17, 2026 - World

Billionaire CEO of world’s biggest bank says any windfall tax on sector’s bumper profits could harm jobs in CityBusiness live – latest updatesJamie Dimon, the boss of the US bank JP Morgan, has urged John Healey not to use his first budget as chancellor to increase taxes on banks’ bumper profits.Speculation has been growing that a windfall tax could be imposed on UK lenders to fund Andy Burnham’s cost of living agenda, with campaigners estimating such a move could raise £19bn. Continue reading...

Aug 17, 2026 - World

Andrei Klepach of VEB said Russia’s economy was falling behind China, US and ‘in some respects Ukraine’Europe live – latest updatesThe chief economist at Russia’s second-largest bank has been fired after a series of critical comments about the state of the economy, including warnings that Moscow would not win a prolonged economic war with Ukraine.Andrei Klepach, who had served in the role at the state-controlled development bank VEB since 2014, was fired days after Russian media reported on a scathing speech he had delivered to fellow economists in May. Continue reading...