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As the far-right AfD aims for power, thousands of protesters in Germany are taking to the streets.
On Saturday, thousands of protesters blocked the roads leading to the annual conference of Germany's far right AfD in the eastern city?Erfurt. The party was re-electing the two leaders who had overseen the rise of the party as a national force. AfD’s two-day AfD conference was preceded by a large number of protesters, including unionists, civil societies and left-wing groups. AfD is Alternative for Germany. Protesters, surrounded by riot police wearing riot gear and seated in rows, blocked highways and roads that led to the convention center where the meeting was being held. Around 15,000 demonstrators were estimated by police to have taken part in the demonstrations around and within the eastern city. AfD re-elected Alice Weidel, Tino Chrupalla as party leaders. Under their leadership the AfD is now leading the national opinion polls over the conservatives of Chancellor Friedrich Merz. Opening speeches ridiculed and lambasted protesters as antidemocratic. The opening speeches mocked and lambasted the protesters as anti-democratic. Weidel stated, "This is our last chance to save this country." "More people want to join us in our fight against Germany's declining, the?fight for fatherland and our identity." Minutes before the AfD convention began, the AfD social media stream played a song entitled "Send them Back" to highlight the party's hardline on immigration. Vintage-style cards with slogans like "YOU WILL BE DEPORTED" were sold inside the convention centre. Bjoern Höecke, a controversial and radical leader of the SPD, offered a mixture of nostalgia and invective. He even pointed to the state of Germany’s motorway restrooms as an indication of societal malaise. "A great Germany would be a country where you don't have to worry about taking an evening stroll through the park. "A great Germany is one where apartment keys are left on the door of the building," he said. Leading in the Polls The conference comes ?ahead of elections in the eastern states of Saxony-Anhalt and Mecklenburg-Vorpommern that the AfD hopes will help pave the way for success at national level, a prospect that has alarmed its opponents. "We simply will not tolerate this, that fascism in Germany is on the increase," Georg Becker said, a spokeswoman for Widersetzen (Resist), an umbrella anti-AfD group that was behind?the Erfurt demonstrations. The AfD was formed more than a decade ago. It has used a mixture of nationalist language, called for stricter immigration policies, and appealed to voters who are frustrated by successive governments, and years of economic stagnation. Weidel stated that criminals and illegal immigrants have no place in Germany anymore. "We will deport these people firmly, because Germany deserves better." The AfD is accused by its opponents of promoting "racist policies" and attitudes that are incompatible with Germany’s democratic values. They also claim it threatens the constitutional order of the country. The mainstream parties have refused to work together, as part of a "firewall" policy designed to keep the AfD out of coalition government. AfD leaders have denied?opposing Germany’s democratic foundations. Earlier this year, they won a court order?ordering that the domestic intelligence service suspend its previous classification as an "extremist" party. Recent polls show that AfD supporters are as high as 29 percent, compared to Merz's conservative CDU/CSU. The former communist east is where the strongest support for the party system comes from. Surveys show that voters are most disillusioned with it. (Writing and reporting by James Mackenzie, Matthias Williams and Susanne Neumayer Remter; editing by Mark Potter).
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Authorities say that a major drone attack on the St Petersburg oil terminal and port was carried out by Ukraine.
Authorities in St Petersburg, Russia's second largest city and the surrounding Leningrad area said on Saturday that a major Ukrainian drone strike overnight had hit a local oil pipeline and port. Alexander Beglov, the Governor of St Petersburg, said that the city with a population of 6,000,000 had been subjected to a "large scale" drone attack. The city's oil storage terminal was also hit. He stated that there were no injuries and the aftermath had been handled. Alexander Drozdenko, Governor of the Leningrad Region, said that drones struck the port of Vysotsk on the Gulf of Finland. The port is located about 170 kilometers (105 miles), northwest of St Petersburg. The port is used to handle oil, grain and coal, as well as liquefied gas. Drozdenko stated that 72 drones were shot down in the Leningrad area. Ukraine has intensified its strikes against Russian energy infrastructure this year, leading to fuel shortages across parts of Russia. St Petersburg is about 900km (560miles) from Ukrainian-held territory.?Kyiv drones have occasionally attacked St Petersburg. The city's oil-terminal and a moored ship were among the targets during the St?Petersburg International Economic Forum held in June. The governor of Pskov Region, south?of St Petersburg said that more than 30 'drones were shot down overnight. He reported minor injuries and damage, including to the factory in Velikiye-Luki. Reporting by. Felix Light is the author. Mark Potter (editing by Felix Light)
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Yemen's Houthis warn Saudi Arabia of their targets in response to Iran's flight to Sanaa
Yemen's Houthis claimed on Friday that their forces had engaged Saudi "warplanes", which they claimed 'attempted to stop an Iranian civilian aircraft from landing at Sanaa International Airport', according to the military spokesperson for the group Yahya Saarea. Sarea, an Iran-aligned group, warned they would "target Saudi airports and vital interest on land and sea" if Saudi Arabia continued to violate Yemeni airspace. He added that flights between Sanaa, Iran and Tehran would continue despite "possible consequences". Al Masirah TV, a Houthi-run channel, reported on Friday that an Iranian plane landed in Sanaa to fly the group's delegation to Tehran for the funeral of Iran’s late Supreme leader Ayatollah Ali Khamenei. Other passengers included more than 200 patients. Saudi Arabia led the military coalition which intervened in Yemen after the Iran-aligned Houthis took over the capital Sanaa in 2015. The Saudi-led coalition claimed early on Saturday that the Houthis' statements against the Kingdom were an attempt to "divert the attention" away from the group's "violations". It warned it would react firmly with "unprecedented force" against any attempts to attack the kingdom or violate Yemen's sovereignty. The Houthis demonstrated their missile and drone capabilities in Yemen's?war by attacking Saudi Arabia, targeting oil installations and critical infrastructure. Reporting by Eman Abohassira, Menna Alaa el-Din and Editing by Louise Heavens Philippa Fletcher David Gregorio
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July festivities were disrupted by a 'dangerous heatwave' that swept across large swathes of the central and eastern U.S. The Great American State Fair, which was a major event in President Donald Trump's celebration of the 250th anniversary of the United States, was also affected by the heat. The Great American State Fair was temporarily closed Friday afternoon as temperatures reached 101° Fahrenheit (38° Celsius). The organizers said that they expect the fair to reopen by?5 pm, with modifications such as cooling tents and spritzing stations. The emergence of the "heat dome," a system of high pressure that traps hot air over a large area, caused record-breaking temperatures to spread from the Midwest to the east of the U.S. earlier this week. More than 185 million people, or more than half of the U.S. population, were under heat alerts on Friday. National Weather Service reported that on Friday there were heat alerts for over 185 million people, more than half of the?U.S. In some parts of the nation, heat indexes can reach up to 115 F (46 C). Forecasters and government officials warned that this heat wave could be deadly. The government urged Americans to be hydrated and seek shade when attending public events and gatherings during the Fourth of Independence weekend. There were cancellations of events along the Eastern Seaboard during the Fourth of July weekend. This is when Americans usually 'gather to barbecues, parades, and fireworks displays in celebration of the 1776 Declaration?of?Independence. The Salute to Independence Parade in?Philadelphia was canceled due to extreme heat. The decision was made after temperatures reached 103 F in Philadelphia on Thursday. This tied a record set back in 1901. Heat-related disruptions were also felt in other parts of the region. Haddon Township in New Jersey canceled its annual Fourth of July parade. Watertown, upstate New York, cancelled its Independence Day concert. Boston officials have delayed the entrance to an annual riverside celebration of fireworks by four hours. The event was originally scheduled to begin at noon, but now it will start at 4 p.m. Reporting by Ahmed Aboulenein, Washington; Nathan Layne, New York. Editing by Mark Porter and David Gregorio.
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July celebrations were ruined by a 'dangerous heatwave' that swept through much of central and eastern U.S. On Friday, the heat wave forced officials to cancel or postpone dozens parades, concerts, and fireworks displays in celebration of the 250th anniversary of America. The Great American State Fair, a centerpiece event of President Donald Trump's efforts to celebrate the 250th anniversary of the United States of America on the National Mall of Washington was temporarily closed on Friday afternoon due to temperatures of 101 degrees Fahrenheit. Organisers have said that it is expected to reopen, weather permitting, at?5 pm, with modifications such as cooling tents and misting station. The National Weather Service reported that record-breaking temperatures reached the east coast of the United States from the Midwest this week. Over 185 million people received heat alerts for Friday. In many areas, peak heat indexes could reach?up to 115 degrees Fahrenheit. Forecasters and government officials warned that the heat wave was potentially deadly. They urged Americans to celebrate the Fourth of July outdoors, stay hydrated and seek shade, and be on guard for signs of heat illness. At least seven states have reported event cancellations, including a "major Independence Day Parade" in Philadelphia, as well as "events" in Maryland's Takoma Park, and Loudoun County in Virginia. Ahmed Aboulenein reported from Washington, Nathan Layne from New York and Mark Porter edited the story.
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PJM, the largest US power grid, intensifies emergency measures to prevent blackouts
PJM, the largest U.S. power 'grid operator, said?Friday he was on a federal alert for reducing electricity consumption in his territory due to generator failures, massive overloading of?its transmission lines and a spike in ac usage from prolonged sweltering temperatures. PJM said it had told utilities that they could reduce the electricity supplied to customers if they were under contract. PJM serves 67,000,000 people in the Mid-Atlantic, South, and Washington, D.C. area. This week, spot wholesale electricity prices in Northern Virginia, the home of the largest 'collection of data centres in the world, soared past $2,000 per megawatt hour. This compares to a?about 40?per MWh if PJM was not in distress. According to industry analysts and PJM operations data, the surge in prices is mainly because it's becoming expensive to supply power accross congested high voltage power lines.
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Alupar and Axia win power transmission projects in Brazil
A consortium led by Brazilian power company Alupar secured the largest lot in Friday's power transmission auction in Brazil, while Axia Energy won the other three projects. The consortium of Alupar, the Infra II Investment fund and other partners'secured' the installation of underground transmission in the metropolitan area of Sao Paulo with a proposal that offered to take 48 percent of the maximum revenue the project could generate. The auctioned lots on Friday were the most expensive, with the highest?investment expected at 1.1 billion reais (212.9?million). Axia Energia was awarded the remaining projects in Sao Paulo state, Mato Grosso state, and Mato Grosso do Sul with 668 million reais of required investment. According to the results released in Sao Paulo by the B3 stock market, Axia's winning offers offered a discount of more than 50% on the?allowed revenue in three cases. Brazil reauctioned four 'power transmission projects' after MEZ Energia - a company which had won concessions for 2020 and 2021 - failed to progress with them.
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Ivory Coast increases renewable energy with new solar power station
Ivory Coast opened a solar power plant of 52.4 megawatts (MW) on Friday as part of its 'efforts' to increase the % share of regenerative energy in their electricity mix, and achieve climate goals by 2021. The world's biggest cocoa producer wants to be a major energy supplier in West Africa. It aims to use 46% renewable energy by 2035. Ivory Coast has an installed capacity of approximately 3,000 MW. Most of this power is generated by oil and gas plants. It exports electricity to Ghana, Burkina Faso. Benin, Togo, and Mali. At the opening ceremony, Mines Minister Mamadou Sangafowa Coulibaly stated that "Today's Ceremony fits perfectly with Ivory Coast's strategy... to accelerate its energy transition through diversifying the electricity mix by expanding renewable energy capacity." According to PFO Africa, which is a 100% Ivorian infrastructure investment group, the Ferke Solar Plant?will?supply electricity for 370,000 households and directly serve about 2,000,000 people in primarily?the northern Ferkessedougou Region?. Construction ?of the plant was ?financed by PFO ?Africa subsidiary PFO Energies and it will operate on a Build-Own-Operate-Transfer basis. (Editing by Ayen deng Bior, Editing by Emelia sithole-Matarise).
Wall St Week Ahead: Investors watch for Fed clues and earnings signs, as tech wobbles
Investors will be looking for clues this week about the?likelihood of imminent interest-rate increases and the early signs of an important earnings season to gauge the strength of U.S. stocks'?rally. This week, the second half of the year 2026 began'much like the first half did' with the rocky performance of "heavyweight" technology shares affecting major indexes. The minutes of the Federal Reserve's last month's meeting as well as earnings reports from Delta Air Lines, PepsiCo and other companies could be new indicators for a market that has been shaky in recent weeks due to its tech-fueled rally.
The market has seen gains over the last few months thanks to tech shares, and in particular semiconductors. The benchmark S&P 500 rose 14.9% during the second quarter, which ended on Tuesday. This was its best quarter since 2019. In recent months, this group has seen a dramatic swing, with steep drops to end the week. Over the last month, other sectors such as financial, industrial, and healthcare stocks have done well, giving investors hope of a healthy market rotation that will lead to broader gains.
Joe Mazzola is the head trading and derivatives strategist at Charles Schwab. He said, "I'll be watching that over the next few weeks to see if or not this broadening continues." If you start to see a prolonged pullback of some technology winners, will that mean the market is going backwards?
INVESTORS SEEK RATES CLUES FROM FED MINUTES. The outlook for interest rate?has changed from expectations of equity-friendly rates cuts at the beginning of the year to projections for hikes in the next months. These expectations of rate hikes were slightly reduced on Thursday after a less-than-expected job report. Following the Federal Reserve's meeting last month, which was led for the first time by Kevin Warsh as chairperson, hawkish bets were on the rise. He said the Fed would be focused on price stability and inflation that is above its 2% target. The minutes of that meeting are expected to be released on Wednesday.
Warsh warned that the Fed would not be able to control the markets and had ceased providing any guidance as to what it might do in the short term. This could make the minutes of future Fed meetings more significant.
Matthew Miskin is the co-chief investment strategy at Manulife John Hancock Investments.
Investors and markets will be asking: what is the new Fed Chairman and the updated (Fed Policymaking Body) looking for in order to determine where rates are headed from here? Investors said that a key issue was how Fed policymakers viewed the inflationary impact energy prices. Energy prices had been declining since the spikes caused by the Iran war. The extent of the divisions among Fed officials is another important topic.
Bonds can be more attractive to investors than stocks if interest rates rise. This is because higher interest rates increase borrowing costs for both consumers and businesses.
LSEG data showed that Fed fund futures at the end of Thursday indicated roughly equal odds that?the Central Bank would raise rates before its September meeting. The Labor Department's data on Thursday showed that U.S. employment growth was slowed dramatically in June. This helped to calm some fears of a rate hike.
"If the Fed becomes more restrictive and begins a tightening process, this is a risk for the market and valuations", said James Ragan. He is co-CIO at D.A. Davidson. "I think it's important to get more information about what the Fed is thinking."
SEASONAL PIVOTAL EARNINGS
The release of services and manufacturing activity could clarify the inflation trend in a week with relatively few economic data releases.
In recent months, stocks have recovered from the declines caused by the U.S./Israeli conflict over Iran. The S&P 500 has risen more than 9% since 2026 while the Nasdaq Composite, which is heavily tech-oriented, has risen 11%. The market's rise was fueled by the surprising strength of first-quarter corporate earnings. This has raised the bar as the second-quarter report season heats up this month.
Next week, two early reports will be released: Delta and the snack and beverage manufacturer PepsiCo. Both offer different perspectives regarding consumer spending trends.
According to LSEG, IBES, the S&P 500 is expected to grow earnings in the second quarter by over 24%.
Keith Lerner is the chief investment officer of Truist Advisory Services. He said that if the north star is earnings, then the most important thing to do for earnings season is to confirm the earnings trajectory this year, and ensure the upward momentum will continue into next year. (Reporting and editing by Michelle Price, David Gregorio and Lewis Krauskopf)
(source: Reuters)