Italy scares markets and Europe, again, with new calls to leave the euro

(Worthy News) – The Italian government is creating further turmoil in financial markets on Tuesday morning, after new comments that Rome would be better outside of the euro zone.

Claudio Borghi, who leads the economic policy of the ruling Lega party, cast doubt over Italy’s membership of the single currency on national radio Tuesday. “I am truly convinced that Italy would solve most of its problems if it had its own currency,” Borghi said in a radio interview, Reuters reported.

Markets have kept their focus on Italy as the new populist government prepares it first budget. There are concerns that increased public spending will derail the reduction of public debt — which amounts to about 2.3 trillion euros ($2.6 trillion).

The coalition government in Rome is formed by two euroskeptic, anti-establishment parties. Borghi’s comments on Italy’s membership of the euro zone are not the first to come out of the right-wing Lega party. It has made similar comments in favor of leaving the euro zone before the election in March, but it toned down the rhetoric on the controversial issue as the vote approached. [ Source: CNBC (Read More…) ]

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UNRWA evacuates officials from Gaza to Israel

(Worthy News) – The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) had evacuated 10 of its international senior employees from Gaza to Israel on Monday, after they were threatened and harassed by UNRWA’s disgruntled local Palestinian staff following the agency’s announcement to cut more than 250 jobs.

The agency’s senior officials were rescued and transferred to Israeli territory via the Erez crossing—which remained closed throughout the Jewish holidays but was re-opened by the Israeli security officials following an official request from UNRWA.

The Coordinator of Government Activities in the Territories issued an official statement, confirming the incident. [ Source: Ynet News (Read More…) ]

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Trump says close to finalizing effective ban on gun bump stocks

(Worthy News) – U.S. President Donald Trump said on Monday his administration is just a few weeks away from finalizing a regulation that would ban so-called bump stocks, devices that allow semi-automatic weapons to fire like machine guns.

“We’re knocking out bump stocks,” Trump said at a White House news conference. “We’re in the final two or three weeks, and I’ll be able to write out bump stocks.”

A year ago in Las Vegas, gunman Stephen Paddock used bump stocks on 12 of his weapons in a mass shooting that killed 58 people and wounded hundreds. [ Source: Reuters (Read More…) ]

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Auto restrictions in Trump trade deal with Mexico, Canada used to pressure China

(Worthy News) – President Trump’s ability to wangle a new deal from NAFTA partners Mexico and Canada will give the White House leverage to take a harder line in the escalating trade war with China, administration backers said Monday.

“Now the focus turns to China, where President Trump can resume his negotiations from a position of strength,” said Chris Garcia, a former Commerce Department deputy director.

He said Monday that the United States-Mexico-Canada Agreement is a blow to Beijing because it will create more hurdles for Chinese-made auto parts to enter the U.S. market and undercut Beijing’s divide-and-conquer strategy. [ Source: Washington Times (Read More…) ]

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NAFTA overhaul paves the way for US, Canada auto-manufacturing rally

(Worthy News) – The revised trade agreement between Canada, Mexico and the U.S. should buoy automotive manufacturing in North America and give the Trump administration heightened leverage in its trade negotiations with China.

For U.S. carmakers, the deal concludes months of anxiety over President Trump’s promise to renegotiate the North American Free Trade Agreement. The manufacturers had taken advantage of the treaty from the early 1990s to build more cost-effective supply chains that criss-crossed the three member countries, so the White House talks outweighed even concerns over tariffs on steel, aluminum imports and $250 billion in Chinese products.

While analysts predict the pact unveiled late Sunday night will increase production costs, ultimately forcing car buyers to pay more, it should also spur new investment in the three countries from both domestic and international automakers. [ Source: Washington Examiner (Read More…) ]

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Trump sees vindication in new trade deal with Canada, Mexico

(Worthy News) – President Trump on Monday checked off a major campaign promise that seemed impossible when he made it: rewriting the 24-year-old North American Free Trade Agreement with Canada and Mexico.

A weekend of hard bargaining got Canada at the last moment to join a U.S.-Mexican deal, retaining a three-way agreement to govern the $1.2 trillion in annual trade among the countries.

The deal aims to revive U.S. manufacturing jobs, open markets to American agriculture and add restrictions to Mexican and Canadian products entering the U.S. Mr. Trump obtained long-sought concessions from Ottawa to open its restrictive dairy markets and refrain from currency manipulation. Canada was able to protect an independent panel to adjudicate trade disputes that the U.S. wanted to eliminate. [ Source: Washington Times (Read More…) ]

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Rebels in Burma Detain More than 90 Christian Leaders, Shut Down More Churches

(Worthy News) – After shutting down at least 10 churches in early September, ethnic Wa rebels in eastern Burma (Myanmar) have closed dozens of other churches and detained 92 Christian leaders and 42 students in a bid to curtail Christian activities, sources said.

The United Wa State Army (UWSA) in late September detained the Christian leaders and students in territory it controls in Shan state, leaders of the Lahu Baptist Convention said in statement released on Tuesday (Sept. 25). Some students were also forced to serve as UWSA soldiers, according to the statement.

The 52 churches in Mong Pauk Township have been shut down, and the UWSA destroyed three church buildings and removed all Christian symbols such as crosses, according to the ethnic Lahu Christian leaders. A few religious schools also have been shut down. [ Source: Morningstar News (Read More…) ]

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