Milei’s ‘Boss’ Becomes Liability Ahead Of Crucial Argentina Vote

British shoppers spent more in August, helped by summer weather and stronger demand for food, furniture and back-to-school computers - though some of the increase reflected higher food prices too, the British Retail Consortium said on Tuesday.

The BRC said spending at its members, mostly larger retail chains, increased by 3.1% in annual terms in August after a 2.5% rise in July.

On a like-for like basis - a measure which adjusts for changes in floorspace and is used by equity analysts - sales rose 3.1%, their fastest this year apart from a 7.0% jump in April due to the timing of Easter this year.

Food spending rose by 4.7% in August compared with a 1.8% increase for other goods.

"Stronger growth in food and drink was largely down to rising prices, which rose over 4% in August, rather than increasing volumes," BRC chief executive Helen Dickinson said.

Retailers were worried about consumer confidence and spending in the lead up to Christmas due to impact of the British government's budget, set to be delivered by finance minister Rachel Reeves on November 26, she added.

Consumer spending figures from Barclays - which cover a wider range of goods and services - showed spending growth slowed to 0.5% in August from 1.4% in July.

Spending on essentials dropped while discretionary spending increased by 2% - boosted in part by Netflix subscriptions to watch summer hit "KPop Demon Hunters", Barclays said.

Concerns about food prices in August rose after stronger-than-expected inflation data the month before, but consumers grew more confidence about Britain's economy after the Bank of England cut rates last month.

"However, the outlook for the rest of the year remains subdued, particularly as Budget speculation is likely to add to uncertainty for both households and businesses. In our view, it will take further interest rate cuts to provide the economy with a sustained boost," Jack Meaning, Barclays' chief UK economist, said.

The BoE last month reduced borrowing costs to 4% from 4.25% in a narrow 5-4 split vote and after a rare second round of voting. It is widely expected to hold rates on September 18.

Official data showed inflation hit an 18-month high of 3.8% in July. But retail sales jumped by much more than expected, partly due to the women's European soccer championship.

Source: Reuters

Australia’s consumer confidence declined in September as households worried about prospects for the economy and the broader labor market at a time of high-profile job cuts.

Sentiment retreated 3.1% to 95.4 points, a Westpac Banking Corp. survey showed Tuesday. Pessimists persist in outweighing optimists, and it has now been 43 months since Australian consumers last registered a sentiment reading above 100 – the second-longest period of continuous pessimism since the survey began in 1974, behind only the early 1990s recession.

“Outright optimism remains elusive for Australian consumers,” said Matthew Hassan, Westpac’s head of Australian macro forecasting. “Consumers look to have renewed concern about prospects for the economy” which appears to have “eaten away at confidence around jobs,” he said.

The result comes as ANZ Group Holdings Ltd. said it expects 3,500 employees to leave the bank in the next year and the Westpac–Melbourne Institute Unemployment Expectations Index climbing 4.6% in September, highlighting expectations that the jobless rate will rise. A strong labor market has been one of the pillars of the economy in the post-pandemic period.

Australia’s central bank has lowered borrowing costs by 75 basis points since the start of the year for a cash rate of 3.6%. Reserve Bank Governor Michele Bullock last month signaled a “couple more” cuts will be required to achieve the bank’s latest forecasts.

Figures this month showed Australia’s economic growth accelerated faster than expected in the second quarter, led largely by household consumption. Following the report, Bullock warned that a strong pick-up in consumer spending could slow the pace of monetary easing if it persists.

Economists see another rate reduction in November and a final one early next year, for a terminal rate of 3.1%.

Source: Bloomberg Europe

Oil prices gained on Tuesday after OPEC+ decided to increase production by less than what market participants had anticipated, while concerns over tighter supply due to potential new sanctions on Russia continued to lend support.

Brent crude gained 22 cents, or 0.33%, to $66.24 a barrel by 0005 GMT, while U.S. West Texas Intermediate crude climbed 24 cents, or 0.39%, to $62.50 a barrel.

Eight members of the Organization of the Petroleum Exporting Countries and allies, collectively known as OPEC+, agreed on Sunday to raise production from October by 137,000 barrels per day. That is much lower than the monthly increases of about 555,000 bpd for September and August, and 411,000 bpd in July and June. It is also less than some analysts had expected.

The October move "marks the reversal of cuts that were set to remain in place until the end of 2026, following the rapid return of the previous tranche of idled barrels over recent months," said Daniel Hynes, senior commodity strategist at ANZ, in a client note on Tuesday.

Prices were also supported by speculation of more sanctions on Russia after the country's biggest air attack on Ukraine set fire to a government building in Kyiv. U.S. President Donald Trump said he was ready to move to a second phase of restrictions.

The European Union's top sanctions official was in Washington with a team of experts to discuss what would be the first coordinated transatlantic measures against Russia since Trump returned to office.

Further sanctions on Russia would diminish its oil supply to global markets, which could support higher oil prices.

The U.S. Federal Reserve's Federal Open Market Committee meets next week, and traders see an 89.4% chance of a quarter-point interest rate cut.

Lower rates reduce consumer borrowing costs and can boost economic growth and demand for oil.

Source: Yahoo Finance

After weeks of vowing to deploy National Guard troops to fight crime in Chicago, the Trump administration said on Monday it had launched a deportation crackdown in Illinois targeting hardened criminals among immigrants in the U.S. without legal status.The U.S. Department of Homeland Security said in an online statement that "Operation Midway Blitz" was being conducted by the Immigration and Customs Enforcement agency, but details about its scope and nature were not immediately made clear.

It remained to be seen whether President Donald Trump would send National Guard soldiers into Chicago to accompany ICE and other federal law enforcement officers, as he has in and around Los Angeles and the District of Columbia.Illinois Governor JB Pritzker and Chicago Mayor Brandon Johnson, both Democrats, each said their offices had received no official notice from federal authorities about the operation, which they decried as a political stunt designed to intimidate.

Trump has been ramping up his rhetoric about expanding federal law enforcement and National Guard presence in Democratic-led cities and states, casting the use of presidential power as an urgent effort to confront crime even as local officials cite declines in homicides and other violent offenses.DHS said its latest ICE operation was necessary because of city and state "sanctuary" laws that limit cooperation with federal immigration authorities.Assistant DHS Secretary Tricia McLaughlin said the crackdown was aimed at convicted gang members, rapists, kidnappers and drug traffickers who she called "the worst of the worst criminal illegal aliens in Chicago."

The press release cited 11 cases of immigrants in the U.S. illegally, most from Mexico and Venezuela, who DHS said had records of arrest or convictions for serious crimes and were released from local jails rather than turned over to federal immigration officials.City Alderwoman Jeylu Gutierrez, who represents the predominantly Hispanic 14th Ward on Chicago's southwest side, said at least five members of her community had been detained in what she called a "federal assault."Among those arrested, Gutierrez said, was a flower vendor taken into custody on the job, while others were detained as they waited for a bus or walked on the sidewalk.

'THIS ISN'T ABOUT FIGHTING CRIME'

"This was never about arresting the worst of the worst, this is about terrorizing our communities," Gutierrez, a Mexican immigrant, told a press conference.

Pritzker, widely seen as a potential 2028 candidate for the White House, also disputed the crime-fighting rationale that Trump voiced last Tuesday when he said he would send National Guard troops to Chicago, the nation's third most populous city and a Democratic stronghold."This isn't about fighting crime," Pritzker said on social media platform X on Monday. "That requires support and coordination — yet we've experienced nothing like that over the past several weeks."Pritzker has suggested Trump's National Guard deployments might be a dress rehearsal for using the military to manipulate the 2026 midterm congressional elections.

Johnson said he was concerned about "potential militarized immigration enforcement without due process," citing "ICE's track record of detaining and deporting American citizens and violating the human rights of hundreds of detainees."In a post on Truth Social on Monday, Trump cited recent murders and shootings in Chicago and blamed Pritzker for making no requests for assistance from the Trump administration."I want to help the people of Chicago, not hurt them," Trump wrote. "Only the Criminals will be hurt! We can move fast and stop this madness."

In a separate post on Saturday, Trump posted a meme based on the 1979 Vietnam War movie "Apocalypse Now" that showed an image of the Chicago skyline with flames and helicopters, reminiscent of the deadly helicopter attack on a Vietnamese village in the film.The Trump administration launched a parallel immigration enforcement operation in Boston in recent days, an ICE official confirmed on Monday.ICE also said on Monday that its Houston-based agents had arrested 822 "criminal aliens, transnational gang members, child predators, foreign fugitives and other egregious offenders" during a week-long operation last month in southeastern Texas.

Previously, DHS said ICE had arrested nearly 1,500 immigration offenders during a month-long enforcement surge in Massachusetts in May and early June.The latest ICE operation in Chicago was announced the same day that the U.S. Supreme Court issued a 6-3 decision allowing federal agents in Southern California to proceed with immigration raids that detain people on the basis of their race, ethnicity, language or accent, even without "reasonable suspicion" that they are in the country illegally.

Source: Reuters

The Los Angeles-class nuclear-powered fast attack submarines were designed to thwart Soviet submarines.

The United States has deployed one of its nuclear-powered fast-attack submarines to the southern Caribbean as part of the White House’s ongoing efforts to combat drug trafficking in the region. USS Newport News is expected to arrive off the coast of Venezuela in the upcoming days, along with a cohort of other US Navy vessels. Additionally, the two Iwo Jima Amphibious Ready Groups, made up of the assault ship USS Iwo Jima, the amphibious transport dock USS San Antonio, and the USS Fort Lauderdale landing ship, arrived in the Caribbean waters earlier this month. The United States has also dispatched three destroyers, USS Gravely, USS Sampson, and USS Jason Dunham to the scene.

The Trump administration issued an executive order (EO) aimed at dismantling drug cartels back in January. As detailed in the EO, “The Cartels’ activities threaten the safety of the American people, the security of the United States, and the stability of the international order in the Western Hemisphere. Their activities, proximity to, and incursions into the physical territory of the United States pose an unacceptable national security risk to the United States.” The deployment of naval warships is meant to contribute to this strategy of curbing drug trafficking routes into America.

USS Newport News and the Los Angeles-class Submarine

USS Newport News (SSN-750) was commissioned in 1989 and has served the Navy honorably ever since. The Los Angeles-class nuclear-powered fast attack submarines were designed during the Cold War to effectively thwart the Soviet Union’s advancements in submarine technology. Specifically, the United States required a new platform capable of better defending the Navy’s carrier battle groups. The resulting Los Angeles-class warships were constructed in three successive flights. USS Newport News was designed in the Flight II block, which emphasized greater firepower. The Los Angeles submarines were notably 50 percent larger than their Sturgeon-class predecessors and featured greater stealth and speed when introduced. In all, the Los Angeles vessels specialize in versatility, including surface warfare, undersea warfare, mining operations, reconnaissance, special forces delivery, intelligence, and carrier battle group support. Powered by the General Electric S6G pressurized water reactor, the Los Angeles submarines are able to travel at speeds in excess of 25 knots. However, it is rumored that these formidable warships can actually sail at much faster speeds.

As mentioned previously, the United States has also dispatched a slew of other warships to the Caribbean waters in order to counter drug trafficking. Earlier this summer, Arleigh Burke-class destroyer USS Gravely participated in a major drug bust in these waters, resulting in the seizure of roughly $14 million in cocaine. In a statement issued by the US 2nd Fleet, “The team discovered and seized 19 bales of cocaine, with an approximate weight of 860 pounds and an estimated value of $13,650,000. U.S. Navy forces are deployed under U.S. Northern Command’s maritime homeland defense authorities with a LEDET embarked to enable maritime interdiction missions to prevent the flow of illegal drugs and other illegal activity.”

Source: The National Interest

The cryptocurrency world is buzzing with a groundbreaking development: a significant Cleancore DOGE purchase. This isn’t just another transaction; it’s a major institutional endorsement that could redefine perceptions of Dogecoin. New York Stock Exchange-listed Cleancore Solutions (ZONE) has officially made its first substantial move into the meme coin market, signaling a bold strategic direction. This article dives into the details of this monumental acquisition and its potential ripple effects across the crypto landscape.

Understanding Cleancore’s Strategic DOGE Purchase

Cleancore Solutions, a publicly traded entity, recently made headlines with its acquisition of 285 million DOGE tokens. Valued at an impressive $68 million, this transaction was initially reported by Crypto Briefing. This move is not an isolated event; rather, it’s the initial phase of a much larger, ambitious plan. Cleancore had previously announced its intention to accumulate a significant portion of the total DOGE supply.

The company’s long-term vision involves securing 5% of all Dogecoin in circulation. Their immediate objective is to reach one billion DOGE tokens. This initial Cleancore DOGE purchase represents a substantial step towards that goal, demonstrating serious commitment from a traditional financial player in the volatile crypto market. Such a large-scale investment by a listed company naturally raises questions about the future of Dogecoin.

Why This Cleancore DOGE Purchase Matters for Dogecoin?

Institutional investment in cryptocurrencies often acts as a powerful validator, lending credibility to previously speculative assets. Cleancore’s decision to invest heavily in DOGE is particularly noteworthy for several reasons:

Moreover, this move highlights a growing trend where established corporations are looking beyond Bitcoin and Ethereum, recognizing the potential in other altcoins, even those with unconventional origins like Dogecoin. Consequently, this strategic move by Cleancore could inspire further corporate exploration into diverse digital assets.

The Road Ahead: Challenges and Opportunities from Cleancore’s DOGE Purchase

While the Cleancore DOGE purchase brings exciting opportunities, it also presents potential challenges. Integrating such a large amount of a volatile asset into a corporate balance sheet requires careful management and a robust understanding of market dynamics. However, the benefits could be substantial.

For Dogecoin, this investment could:

However, the crypto market remains inherently unpredictable. Cleancore’s strategy will need to navigate regulatory changes, market sentiment shifts, and the ongoing evolution of the digital asset space. The success of this ambitious plan will be closely watched by the entire industry.

What Does This Cleancore DOGE Purchase Mean for Institutional Crypto Investment?

The Cleancore DOGE purchase serves as a fascinating case study in the evolving landscape of corporate crypto strategy. It signals a willingness among some traditional companies to embrace assets beyond the established giants like Bitcoin. This bold move by Cleancore Solutions could very well set a precedent, encouraging other firms to diversify their digital asset portfolios and explore less conventional cryptocurrencies.

As the lines between traditional finance and decentralized finance continue to blur, such acquisitions demonstrate a clear trend towards mainstream integration. Investors, both retail and institutional, should pay close attention to how these developments unfold, as they could reshape the future of digital asset valuation and adoption. Furthermore, this move highlights a growing confidence in the long-term viability of various digital assets.

In conclusion, Cleancore Solutions’ initial $68 million Cleancore DOGE purchase marks a significant milestone for both the company and Dogecoin. It underscores a growing institutional confidence in cryptocurrencies, even those with unique origins. This strategic move could pave the way for increased legitimacy, market stability, and broader adoption for Dogecoin, while also challenging conventional perceptions of value in the digital asset space. The journey to acquire 5% of DOGE’s total supply is just beginning, and its implications will undoubtedly resonate throughout the crypto market for years to come.

Frequently Asked Questions (FAQs)

Q1: What is Cleancore Solutions’ recent Dogecoin acquisition?Cleancore Solutions (ZONE), a NYSE-listed company, recently purchased 285 million DOGE tokens, valued at $68 million, as part of its strategic entry into the cryptocurrency market.

Q2: What is Cleancore’s long-term goal for Dogecoin?Cleancore aims to secure 5% of the total Dogecoin supply, with an initial target of acquiring one billion DOGE tokens. This recent purchase is the first step towards that ambitious goal.

Q3: How does institutional investment affect Dogecoin’s legitimacy?A significant Cleancore DOGE purchase by a publicly traded company like Cleancore provides a strong institutional endorsement, lending credibility to Dogecoin and potentially shifting its perception from a ‘meme coin’ to a more legitimate asset class.

Q4: What are the potential benefits of this purchase for DOGE?This acquisition could lead to enhanced legitimacy, increased market stability due to large holdings, and broader adoption of Dogecoin as other companies might follow suit. It may also encourage further development on the Dogecoin blockchain.

Q5: Are there any challenges associated with Cleancore’s DOGE investment?Yes, challenges include managing the volatility of a cryptocurrency asset on a corporate balance sheet, navigating evolving regulatory landscapes, and responding to shifts in overall market sentiment. The long-term success hinges on careful strategy and execution.

Source: CryptoSlate