US-Iran pause, fast fashion and Rohingya schools
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What is the main topic discussed in this episode?
Hi, I'm Kim Vinnell in Whanganui, New Zealand. It's Monday, July 27th. Today, an uneasy quiet in Iran as Trump weighs the cost of continuing and Israel's Prime Minister heads to Washington. Sheehan warns the fast fashion model and the price you pay is going to change. India's Modi promises reform in the wake of youth-led protests. And Malaysia is told to look after its Rohingya children as schools are closed. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week. U.S. Ambassador to the United Nations Mike Waltz says President Donald Trump is pausing attacks on Iran to allow more time for diplomacy. But behind the scenes, Trump's advisers have been telling him the U.S.
is running out of targets and are warning him about depleting the remaining arsenal. Washington stopped attacking Iran on Friday after almost two weeks of daily strikes. Iran has also gone quiet since then, stopping its hits on neighboring countries which host U.S. bases. An Iranian official told Reuters its position remains attack for attack and that it's conveyed that to Washington. Israel's Prime Minister Benjamin Netanyahu may well push for the US to go back to war when he meets with President Trump tomorrow. Netanyahu is heading to Washington to attend Senator Lindsey Graham's funeral, but will meet with Trump too. It's been months since the pair got together. In that time, Trump has admitted to calling his ally crazy in a phone call, angry over Israel's continued attacks on Lebanon.
White House reporter Graham Slattery has more on what to expect.
These two, they have a very odd relationship. Sometimes they are very close. They have cordial phone calls. Sometimes Trump blows up at Netanyahu. It's sort of kind of a love-hate relationship. Obviously, right now, the context is different. You know, we kind of have to look at their areas of divergence. Right now, we have sort of a informal ceasefire going on in the Middle East that doesn't really serve Israel's interest at the moment. The Israeli government had said that they saw the previous arrangement under which the U.S. was bombing Iran directly. nightly without Israel's help as something that was beneficial to Israel. So I think we can perhaps expect Prime Minister Netanyahu to push for some sort of resumption of strikes.
And then on another front, there is some disagreement between the Trump administration and the Netanyahu government regarding Lebanon. Trump has said that he would be interested in the leader of Syria's al-Shara perhaps playing some role in taking on Hezbollah in southern Lebanon, which Israel does not want. Al-Shara himself was part of al-Qaeda, an al-Qaeda branch for a time. So that's sort of the terrain that we're looking at.
pivoting now to markets and what to keep an eye on this week. Here's Mike Dolan from our sister podcast, Morning Bid.
Good morning. We've a super busy week ahead, dominated by the big hyperscaler earnings, Amazon, Meta, Microsoft and Apple, all reporting either side of a critical Fed meeting where the Fed is still priced in the futures market with a one in four chance of a rate hike this week. So some critical events. It gets a bit of relief coming into the week with oil prices falling back. But there is some very big single stock movements going on, not least in China, where we had a 500% rise of CXMT to become China's biggest company on its first day trading.
You can catch MorningBid wherever you get your podcasts.
One company getting plenty of attention from investors right now is fast fashion giant Shein. It's warning that the economics of ultra-cheap fast fashion are changing. It says a US crackdown on duty-free imports from China is hurting sales and forcing it to consider higher prices.
Why has the U.S. paused its bombing campaign on Iran and what risks did advisers warn President Trump about?
That as the company released new financials ahead of a planned Hong Kong IPO. Correspondent Selina Lee is in Hong Kong.
I think it definitely signals that the golden era of unbelievably cheap, tax-free, cross-border shopping is winding down. The exemption gave them previously a double advantage.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–4:41
2
Why has the U.S. paused its bombing campaign on Iran and what risks did advisers warn President Trump about?
4:41–7:18
3
How has Iran responded to the pause in strikes and what does 'attack for attack' mean from Tehran?
7:18–9:29
4
What might Benjamin Netanyahu push for during his Washington meeting with President Trump?
9:29–9:45
Speakers
5 identifiedMore from Reuters World News
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