Secretary of State Marco Rubio said Friday that Israel and Lebanon had reached a framework agreement aimed at achieving “lasting peace and security.”

The agreement, which came as a result of talks mediated by the United States, calls for the implementation of a ceasefire between the two nations.

That ceasefire is contingent on a complete cessation of fire by the paramilitary group Hezbollah and the evacuation of all Hezbollah operatives from the South Litani Sector, an area in southern Lebanon.

Hezbollah was not a party to Friday’s agreement. It is not clear whether the group will abide by any ceasefire.

(Continue Reading – CNBC)

U.S. President Donald Trump threatened on Friday a 100% tariff on all goods from any country that imposes a digital services tax on American companies, inflaming transatlantic trade tensions a day after European Union countries met Trump's July 4 deadline to cut tariffs on U.S. goods.

"Numerous European Countries have been discussing the imminent implementation of a Digital Services Tax on American Companies," Trump ⁠said in a social media post. "Some of these Countries are close to actually doing this.

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With inflation topping 4%, the Trump administration is easing off its long-standing calls for the Federal Reserve to immediately cut interest rates. That is giving new Fed Chairman Kevin Warsh an extended political grace period as he deals with a challenging economic environment, but underscores the depth of the pushback he could face if the mercurial president changes his mind.

President Donald Trump said as recently as Wednesday that he wants the Fed to cut rates. Meanwhile several of the president’s top economic advisors have in recent interviews and writing stopped short of calling for near-term rate cuts, as they had before the Iran war sent some prices surging and Trump installed Warsh as the new Fed chairman.

What might look like division is really an indication that the Trump-Warsh relationship has shifted the political gravity of the Trump administration, a White House official said, speaking on condition of anonymity to describe behind-the-scenes conversations.

(Continue Reading - CNBC)

Labour MPs and climate campaigners are abandoning resistance to a controversial new North Sea gas field ahead of Andy Burnham’s expected entry into Downing Street next month — but they say they’ll carry on fighting over a second, even more contentious, oil field.

Burnham, who is on a path to becoming Labour leader and U.K. prime minister within weeks, is under pressure from the party’s union backers to approve Jackdaw, a major new gas development 150 miles east of Aberdeen in north-east Scotland, as well as Rosebank, an oil and gas field 80 miles off the Shetland coast.

The twin projects are bêtes noires for British climate campaigners and have been held up for years by legal challenges. A final decision from regulators is expected soon and then the last sign-off must come from the U.K. government.

(Continue Reading - POLITICO)