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  • Hiroshima warns against nuclear weapons as it marks 80 years since A-bomb

    Hiroshima warns against nuclear weapons as it marks 80 years since A-bomb

    Exactly 80 years since an atomic bomb was used in war for the first time, thousands bowed their heads in prayer in Hiroshima on Wednesday, as the city’s mayor warned world leaders about the nuclear warheads that still exist today.

    The western Japanese city of Hiroshima was levelled on Aug. 6, 1945, when the United States dropped a uranium bomb nicknamed “Little Boy”, killing about 78,000 people instantly.

    Hiroshima was the headquarters of some military units and a major supply base during World War Two. US war planners calculated that the surrounding mountains would concentrate the force of the bomb and enhance its destructiveness.

    “Little Boy” unleashed a surge of heat reaching 4,000 degrees Celsius (7,200 Fahrenheit) and radiation that killed tens of thousands more by the end of the year. It was followed by a plutonium bomb on Nagasaki three days later, and Japan’s surrender on Aug. 15.

    Representatives from a record 120 countries and territories including nuclear superpower the United States, and Israel, which neither confirms nor denies having nuclear weaponry, attended the annual ceremony at the Hiroshima Peace Memorial Park for the milestone year.

    After a moment of silence observed at 8:15 a.m., the exact time of the blast, mayor Kazumi Matsui called on leaders to heed the lessons of Hiroshima and Nagasaki and warned of the consequences of the global trend towards a military buildup.

    “Among the world’s political leaders, there is a growing belief that possessing nuclear weapons is unavoidable in order to protect their own countries,” he said, noting that the US and Russia possessed 90% of the world’s nuclear warheads.

    Read more: Hiroshima remembers A-bomb victims as ‘global tragedies’ unfold

    “This situation not only nullifies the lessons the international community has learned from the tragic history of the past, but also seriously undermines the frameworks that have been built for peace-building.

    “To all the leaders around the world: Please visit Hiroshima and witness for yourselves the reality of the atomic bombing.”

    Yoshikazu Horie, a 71-year-old tourist, expressed a similar sentiment.

    “It feels more and more like history is repeating itself. Terrible things are happening in Europe … Even in Japan, in Asia, it’s going the same way, it’s very scary,” he said.
    “I’ve got grandchildren and I want peace so they can live their lives happily.”

    In the decades following the attacks, those who survived, called “hibakusha”, often faced discrimination as rumours spread that they carried diseases and their offspring could be tainted. Their numbers fell below 100,000 for the first time this year.

    Japan, the only country to have suffered nuclear attacks, has stated its commitment to nuclear disarmament but is not a signatory or observer of the U.N. treaty to ban nuclear weapons.

  • White House to target banks as Trump claims discrimination

    White House to target banks as Trump claims discrimination

    President Donald Trump on Tuesday said he believes that banks, including JPMorgan, and Bank of America, discriminate against him and his supporters, as he prepares to act against banks for allegedly dropping customers for political reasons.

    Donald Trump also said the country’s top two lenders had previously rejected his deposits, ramping up his attack on the industry.

    “They totally discriminate against, I think, me maybe even more, but they discriminate against many conservatives,” he told CNBC in an interview.

    Trump made the comments when asked about a report by the Wall Street Journal that said he planned to punish banks that discriminated against conservatives, but did not address the order specifically.

    The executive order instructs regulators to review banks for “politicized or unlawful debanking” practices, according to a draft reviewed by Reuters. It is likely to be announced on Wednesday, an industry source said.

    “They did discriminate,” Trump said of actions taken by JPMorgan after his first term in office. “I had hundreds of millions, I had many, many accounts loaded up with cash … and they told me, ‘I’m sorry sir, we can’t have you. You have 20 days to get out.’”

    Donald Trump’s latest criticism adds pressure on America’s largest lenders. The order would likely require banks to conduct sweeping reviews of their businesses to comply with regulations.

    Trump said, without providing evidence, that the banks’ refusal to take his deposits indicated that the administration of former President Joe Biden had encouraged regulators to “destroy Donald Trump.”

    Trump said he subsequently tried to deposit funds with BofA and was also refused, and eventually split the cash.

    “I ended up going to small banks all over the place,” he said. “I was putting $10 million here, $10 million there, did $5 million, $10 million, $12 million,” he said, without naming the lenders.

    “I have them all over the place, the craziest thing, and it’s lucky I even had them. They were doing me a favour, and that’s because the banks discriminated against me very badly, and I was very good to the banks.”

    In a statement, JPMorgan did not address the president’s specific claims about his account.

    Read more: Trump says he will ‘substantially’ raise tariffs on India over Russian oil purchases

    “We don’t close accounts for political reasons, and we agree with President Trump that regulatory change is desperately needed,” JPMorgan said. “We commend the White House for addressing this issue and look forward to working with them to get this right.”
    BofA also did not address Trump’s specific claims.

    ‘REPUTATIONAL RISK’ ISSUE

    During Biden’s administration, regulators were able to scrutinize banks’ decisions on the basis of reputational risks, a second source familiar with the matter said.

    Lenders were under intense scrutiny and pressure to weigh reputational risks when dealing with Trump because of his legal woes, a third source said.

    JPMorgan continues to have a banking relationship with members of the Trump family that dates back years, and it also banks a number of campaign accounts linked to Trump, the third source said.

    After Trump took power, the Federal Reserve announced in June it was directing its supervisors to no longer consider reputational risk when examining banks, a metric that had been a focus of industry complaints.

    The Wall Street Journal reported late Monday that the expected executive order would instruct regulators to investigate whether any financial institutions breach the Equal Credit Opportunity Act, antitrust laws or consumer financial protection laws by dropping customers for political reasons.

    The order could authorize monetary penalties, consent decrees or other disciplinary measures against violators, according to the draft.

    The White House had no immediate comment on the reported order.

    “What the White House is doing is telling the banks not to hide behind regulations to deny loans or banking relationships,” said Wells Fargo bank analyst Mike Mayo. “Banks can use their normal underwriting standards and deny services, but not blame regulators or use reputational risk as a justification.”

    BofA said it welcomed the administration’s efforts to clarify the policies.

    “We’ve provided detailed proposals and will continue to work with the administration and Congress to improve the regulatory framework,” the bank said.

    Trump in January admonished the CEOs of JPMorgan and BofA for denying services to conservatives. At the time, the two banks denied making banking decisions based on politics.

  • Porto great Jorge Costa dies aged 53 after cardiac arrest

    Porto great Jorge Costa dies aged 53 after cardiac arrest

    Former Porto captain Jorge Costa died on Tuesday at the age of 53 after suffering a cardiac arrest at the club’s training centre, the Portuguese side said.

    The former defender, who was serving as Porto’s Director of Professional Football in his second season in the role, was rushed to hospital but could not be saved.

    “Throughout his life, both on and off the pitch, Jorge Costa embodied the values that define FC Porto: dedication, leadership, passion and an unshakeable spirit of conquest,” the club said in a statement. “He left his mark on generations of fans and became a symbol of Portismo.”

    Over his career, Jorge Costa played 530 games in all competitions – 383 for Porto and 50 for Portugal’s national team.

    Costa earned the nickname “Bicho” (Animal) from teammate Fernando Couto during their partnership in central defence. As captain, he led Porto to UEFA Cup glory in 2003 and a Champions League triumph in 2004 under manager Jose Mourinho.

    Read more: Former Nigeria goalkeeper Peter Rufai dies at 61

    The defender was one of six players to win five consecutive Portuguese league championships with Porto, alongside Aloisio, Drulovic, Paulinho Santos, Rui Barros and Folha.

    Jorge Costa returned to the club in April 2024 as director under new president Andre Villas-Boas.

    “Jorge Costa’s legacy will always remain alive in the memory of all Porto fans. You will never be forgotten, Captain,” the club added.

  • Former X CEO Yaccarino takes helm at GLP-1 focused telehealth firm eMed

    Former X CEO Yaccarino takes helm at GLP-1 focused telehealth firm eMed

    Linda Yaccarino is taking the top job at eMed Population Health, a telehealth startup focused on GLP-1 weight loss drugs, nearly a month after stepping down as CEO of social media platform X.

    Yaccarino, an advertising industry veteran, exited Elon Musk’s X after two turbulent years during which she tried to revive its reputation among advertisers, who were wary of the platform’s content as well as the billionaire’s steady stream of controversial posts.

    Although devoid of any experience in the health sector, she brings deep expertise in brand partnerships and digital revenue growth.

    At NBCUniversal, Linda Yaccarino modernised the global advertising business over a decade. At X, she helped regain advertiser confidence following turbulence under Musk’s ownership.

    In her first public statement following her appointment on Tuesday, Yaccarino said, “There is an opportunity to combine technology, lifestyle, and data in a new powerful way through the digital channels that impact consumers directly in ways that have never been done before.”

    Miami, Florida-based eMed, founded in 2020, partners with employers and government payers to manage GLP-1 usage, a class of obesity and diabetes drugs whose cost burden has been a barrier to a wider insurance coverage.

    Several telehealth platforms are competing for a slice of the booming GLP-1 weight-loss market, reflecting a broader push to merge pharma and digital care. But the sector is drawing increased scrutiny over safety, marketing and regulatory gaps as demand and competition grow.

    Read more: Linda Yaccarino, CEO of Elon Musk’s X, to step down in surprise move

    “I think her [Linda Yaccarino] talents in digital marketing and advertising are important, especially as the industry becomes more of a direct-to-consumer business,” said Jeff Jonas, PM at Gabelli Funds. “President Trump has been encouraging this as well, although we’re still in the very early days of Hims and LillyDirect with the associated growing pains.”

    The company claims its platform can cut costs of a weight loss program by up to 50 percent, offering live, on-demand care without appointments.

    EMed gained traction during the pandemic with at-home COVID-19 tests and later expanded into diagnostics for strep throat and UTIs, though it has since moved away from those offerings.

    The company currently employs between 51 and 200 people, according to its LinkedIn page.

  • Gold steadies as firm dollar offsets rate cut bets

    Gold steadies as firm dollar offsets rate cut bets

    August 5, 2025: Gold prices held steady on Tuesday as a firmer dollar countered support from U.S. rate cut bets, while market participants awaited President Trump’s announcement on new Federal Reserve appointments.

    Spot gold was up 0.1% at $3,376.80 per ounce, by 0947 a.m. ET (1347 GMT) after rising to its highest level since July 24 on Monday. U.S. gold futures also rose 0.1% at $3,430.

    Gold Rates Today in Pakistan

    The dollar was up 0.2%, making greenback-priced gold more expensive for overseas buyers.

    A stronger dollar is pressuring gold right now, but expectations that the Fed will start cutting rates in September remain very supportive for gold, said Bob Haberkorn, senior market strategist at RJO Futures.

    Markets are currently pricing in two rate cuts by year-end, beginning in September after Friday’s unexpectedly weak June hiring data.
    Gold is used as a safe store of value during political and financial uncertainty, and thrives in a low-interest-rate environment as it yields no interest.

    Meanwhile, Trump said he would announce decisions soon on a short-term replacement for Federal Reserve Governor Adriana Kugler, who announced her resignation on Friday, as well as his pick for the next Fed chair.

    Data showed that the U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, the latest evidence of the imprint on global commerce Trump is making with sweeping tariffs on imported goods.

    Investors now await Thursday’s U.S. jobs data for more clues into the Fed’s potential rate path.

    Spot silver rose 0.4% to $37.53 per ounce, reaching its highest level since July 30.

    “I’m more bullish on silver than gold right now. I think silver could break above $40, and if it does, the next target would likely be around $42,” Haberkorn said.

    Platinum lost 1.3% to $1,312.42 and palladium shed 1.7% to $1,186.18.

    South Africa-based miner Sibanye-Stillwater has asked the United States to consider imposing a tariff on Russian palladium imports to support the long-term viability of U.S. supplies.

  • Shoprite plans to exit these two countries

    Shoprite plans to exit these two countries

    JOHANNESBURG, August 5, 2025: South Africa’s biggest grocery retailer Shoprite said on Tuesday it is selling its operations in Ghana and Malawi, marking another step towards consolidation of its activities across Africa to focus more on its home market.

    The supermarket retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay and Walmart-owned Massmart to become the continent’s leading food retailer in about 15 countries.

    But forays into markets, including Angola and Nigeria, were marred by currency volatility, double-digit inflation, high import duties and dollar-based rentals.

    On Tuesday it said Shoprite Malawi signed an agreement on June 6 to dispose of five trading stores, pending certain conditions, including approval from the Competition and Fair Trading Commission as well as the Reserve Bank of Malawi.

    In Ghana, the group received a binding offer in June for seven trading stores and one warehouse. The sale is deemed highly probable, Shoprite said.

    By 0753 GMT the company’s shares were down 2.60%.

    The planned sales follow exits from Nigeria, Kenya, Democratic Republic of Congo, Uganda and Madagascar. Shoprite had also restricted capital allocations to its supermarkets outside South Africa.

    The retailer also said it expects headline earnings per share from continuing operations to rise between 9.4% and 19.4% in the 52 weeks ended June 29, up from a restated 11.85 rand in 2024.

    It expects group sales from continuing operations to rise by 8.9% to 252.7 billion rand ($14 billion).

     

  • Titan submersible’s design a primary factor in implosion: report

    Titan submersible’s design a primary factor in implosion: report

    WASHINGTON, Aug 5: A U.S. Coast Guard investigative board concluded Tuesday that the “inadequate design” of the Titan submersible was a primary contributing factor in its implosion in 2023 that left five people dead including a Pakistani father and son.

    The Titan was on a tourist expedition to the wreckage of the Titanic – a British passenger liner that sank in 1912, killing at least 1,500 on board – when it lost contact with its support vessel during descent. Its remains were found four days later, littering the seabed about 1,600 feet (488 meters) from the bow of the Titanic wreck.

    Oceangate Titan Incident- All Stories

    The implosion was preventable, the chair of the U.S. Coast Guard Marine Board of Investigation, Jason Neubauer, said as a 300-page report was released following a two-year probe.

    “There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework,” he said in a statement.

    A media spokesperson at OceanGate, the U.S.-based company that managed the tourist submersible and suspended all operations after the incident, was not immediately available for comment.

    The board determined that the primary contributing factors were OceanGate’s “inadequate design, certification, maintenance and inspection process for the Titan.”
    It also cited “a toxic workplace culture at OceanGate,” an inadequate regulatory framework for submersibles and other novel vessels, and an ineffective whistleblower process.

    The report added “for several years preceding the incident, OceanGate leveraged intimidation tactics, allowances for scientific operations, and the company’s favorable reputation to evade regulatory scrutiny.”

    The board found that OceanGate failed to investigate and address known hull anomalies following its 2022 Titanic expedition. It said data from Titan’s real-time monitoring system should have been analyzed and acted on during that expedition.

    It also criticized OceanGate for failing to properly store the Titan before the 2023 Titanic expedition.

  • Israel said it intercepted missile launched from Yemen

    Israel said it intercepted missile launched from Yemen

    The Israeli military said it intercepted a missile from Yemen early on Tuesday after air raid sirens sounded in several areas across the country.

    The Houthis’ military spokesperson, Yahya Saree, later said the group had attacked Israel with a missile.

    The Iran-aligned group, which controls the most populous parts of Yemen, has been firing at Israel and attacking shipping lanes in what it says are acts of solidarity with Palestinians in Gaza.

    Most of the missiles and drones they have launched have been intercepted or fallen short. Israel has carried out a series of retaliatory strikes.

  • Canada airdrops aid into Gaza, says Israel violating international law

    Canada airdrops aid into Gaza, says Israel violating international law

    Canada said on Monday it delivered humanitarian assistance through airdrops to Gaza, which has been under a devastating Israeli military assault for almost 22 months, with Ottawa again accusing Israel of violating international law.

    “The (Canadian Armed Forces) employed a CC-130J Hercules aircraft to conduct an airdrop of critical humanitarian aid in support of Global Affairs Canada into the Gaza Strip. The air drop consisted of 21,600 pounds of aid,” the Canadian government said in a statement.

    The Canadian Broadcasting Corporation reported that it was Canadian Armed Forces’ first humanitarian airdrop over Gaza using their own aircraft.

    The Israeli military said 120 food aid packages for Gaza’s residents were airdropped by six countries, including Canada. The other five were Jordan, the United Arab Emirates, Egypt, Germany and Belgium.

    Canada said last week it plans to recognize the State of Palestine at a meeting of the United Nations in September, ratcheting up pressure on Israel as starvation spreads in Gaza.
    Canada also said on Monday that Israeli restrictions have posed challenges for humanitarian agencies.

    “This obstruction of aid is a violation of international humanitarian law and must end immediately,” Canada’s government said.

    The Israeli embassy in Ottawa had no immediate comment. Israel denies accusations of violating international law and blames Hamas for the suffering in Gaza.

    Israel cut off food supplies to Gaza in March and then lifted that blockade in May – but with restrictions that it said were needed to prevent aid from being diverted to militant groups.

    Read more: Dire water shortages compound hunger and displacement in Gaza

    President Donald Trump also claimed Hamas were stealing food coming into Gaza and selling it. However, Reuters reported late last month that an internal US government analysis found no evidence of systematic theft by Hamas of US-funded humanitarian supplies.

    Israel says it is taking steps for more aid to reach Gaza’s population, including pausing fighting for part of the day in some areas, allowing airdrops and announcing protected routes for aid convoys.

    The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked Israel, killing 1,200 and taking about 250 hostages, Israeli tallies show.

    Gaza’s health ministry says Israel’s subsequent military assault has killed over 60,000 Palestinians.

    It has also caused a hunger crisis, internally displaced Gaza’s entire population and prompted accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations.

  • US could require up to $15,000 bonds for tourist visas under pilot program

    US could require up to $15,000 bonds for tourist visas under pilot program

    The US could require bonds of up to $15,000 for some tourist and business visas under a pilot program launching in two weeks, a government notice said on Monday, an effort that aims to crack down on visitors who overstay their visas.

    The program gives US consular officers the discretion to impose bonds on visitors from countries with high rates of visa overstays, according to a Federal Register notice.

    Bonds could also be applied to people coming from countries where screening and vetting information is deemed insufficient, the notice said.

    President Donald Trump has made cracking down on illegal immigration a focus of his presidency, boosting resources to secure the border and arresting people in the U.S. illegally.

    He issued a travel ban in June that fully or partially blocks citizens of 19 nations from entering the US on national security grounds.

    Trump’s immigration policies have led some visitors to skip travel to the United States. Transatlantic airfares dropped to rates last seen before the COVID-19 pandemic in May and travel from Canada and Mexico to the US fell by 20% year-over-year.

    Effective August 20, the new visa program will last for approximately a year, the government notice said. Consular officers will have three options for visa applicants subjected to the bonds: $5,000, $10,000 or $15,000, but will generally be expected to require at least $10,000, it said.

    The funds will be returned to travelers if they depart in accordance with the terms of their visas, the notice said.

    A similar pilot program was launched in November 2020 during the last months of Trump’s first term in office, but it was not fully implemented due to the drop in global travel associated with the pandemic, the notice said.

    A State Department spokesperson listed the criteria that will be used to identify the countries that will be affected, adding that the country list may be updated.

    Read more: Oman targets 11 million tourists by 2040

    “Countries will be identified based on high overstay rates, screening and vetting deficiencies, concerns regarding acquisition of citizenship by investment without a residency requirement, and foreign policy considerations,” the spokesperson said.

    The State Department was unable to estimate the number of visa applicants who could be affected by the change. Many of the countries targeted by Trump’s travel ban also have high rates of visa overstays, including Chad, Eritrea, Haiti, Myanmar and Yemen.

    US Travel Association, which represents major tourism-related companies, estimated the “scope of the visa bond pilot program appears to be limited, with an estimated 2,000 applicants affected, most likely from only a few countries with relatively low travel volume to the United States.”

    Numerous countries in Africa, including Burundi, Djibouti and Togo also had high overstay rates, according to US Customs and Border Protection data from fiscal year 2023.

    A provision in a sweeping spending package passed in the Republican-controlled US Congress in July also created a $250 “visa integrity fee” for anyone approved for a non-immigrant visa that could potentially be reimbursable for those who comply with visa rules. The $250 fee goes into effect on October 1.

    US Travel said that fee could hinder travel and said “if implemented, the US will have one of, if not the highest, visitor visa fees in the world.”