2025-08-08 00:38

Brandon Russell faces supervised release for life after prison term Conspiracy aimed at furthering white supremacist ideology, prosecutors say Russell's lawyer plans appeal, argued co-conspirator more culpable Aug 7 (Reuters) - The founder of a neo-Nazi group was sentenced on Thursday to 20 years in federal prison, followed by a lifetime of supervised release, for plotting to sabotage Baltimore's power grid, the U.S. Attorney's Office for Maryland said. Brandon Russell, 30, of Orlando, Florida, was found guilty at trial earlier this year of conspiring to damage or destroy an energy facility. Senior U.S. District Judge James Bredar in Baltimore handed Russell the maximum sentence for that offense. Sign up here. His convicted co-conspirator in the plot, Sarah Beth Clendaniel, 37, of Catonsville, Maryland, pleaded guilty and received an 18-year prison term in September 2024. Prosecutors said the conspiracy targeting several electrical substations around Baltimore, which is predominantly Black and ranks as Maryland's largest city, was aimed at furthering a white supremacist ideology that sought the collapse of American society. "Russell allowed hatred to drive him and his co-conspirator to plot a dangerous scheme that could have harmed thousands of people," U.S. Attorney Kelly Hayes said in a statement announcing Thursday's sentencing. Evidence presented at trial showed that between November 2022 and his arrest in February 2023, Russell hatched a plan to simultaneously attack five substation transformers with gunfire in an attempt to cause a cascading city-wide power failure. Prosecutors said such an attack, had they been carried out, would have caused more than $75 million in damage. Russell's lawyer, Ian J. Goldstein, had argued that Clendaniel was “the more culpable of the two defendants” and was seeking a lesser sentence than she received. “We will be filing an immediate appeal,” Goldstein said in an email to the New York Times on Thursday. “There are significant appellate issues relating to what we believe to be the unlawful warrantless surveillance of Brandon Russell, a United States citizen protected by the Constitution.” Reached by text message on a plane, Goldstein told Reuters he was accurately quoted by the Times. Russell founded a neo-Nazi group called the Atomwaffen Division, according to the Southern Poverty Law Center, a civil rights organization that tracks U.S. hate groups. He was previously sentenced to five years in prison after pleading guilty to possession of an unregistered destruction device and the improper storage of explosive materials in connection with an alleged plot to attack power lines in Florida. A confidential informant helped lead the FBI back to Russell while he was still under supervised release from the Florida case, linking him to encrypted internet messages from a user known as "Homunculus" urging attacks on electrical substations, according to federal authorities. https://www.reuters.com/world/us/neo-nazi-leader-sentenced-20-years-plot-sabotage-baltimore-power-grid-2025-08-08/

2025-08-08 00:11

BENGALURU, Aug 8 (Reuters) - The Reserve Bank of Australia will cut its cash rate by 25 basis points to 3.60% on August 12, according to economists polled by Reuters, who have not changed their rate views. Inflation fell to 2.1% last quarter, a near-four year low and close to the lower band of the RBA's target range of 2%-3%, giving the RBA what it needs to continue cutting rates after a rare split decision to pause last month that surprised markets. Sign up here. The unemployment rate rose to a 3-1/2-year high of 4.3% in June. Together with slow domestic demand, this suggests a need for less restrictive monetary policy in an economy where household spending accounts for over 50% of growth. All 40 respondents in the August 4-7 Reuters poll expected the central bank to cut its official cash rate (AUCBIR=ECI) , opens new tab by 25 basis points to 3.60% on August 12. "Q2 inflation data was no worse than feared and the softer June labour force report we saw recently is more than enough to get your 25 basis point rate cut. It would seem the RBA's recent concerns about inflation were perhaps a little bit overdone," said Andrew Ticehurst, senior economist at Nomura. Over 90% of respondents who had views on rates until year-end, 35 of 38, predicted another 25 basis point cut next quarter, bringing the cash rate to 3.35% by end-December. Two said 3.10% and one predicted rates would be 3.60%. All of Australia's major banks - ANZ, CBA, NAB and Westpac - expected rates to be 3.35% at the end of this year. Median forecasts showed one additional rate cut by end-March to 3.10%, with rates then expected to remain steady through 2026. (Other stories from the August Reuters global economic poll) https://www.reuters.com/world/asia-pacific/rba-set-cut-rates-25-bps-360-august-12-one-more-cut-likely-this-year-2025-08-08/

2025-08-08 00:04

Lobbying contract worth $3 million a year Deal signed the day junta nominally transferred power Lobby group has been under FBI investigation WASHINGTON, Aug 7 (Reuters) - A Washington lobbying firm has signed an agreement worth $3 million a year with Myanmar's Ministry of Information to help the long-time military-ruled country rebuild relations with the United States. According to documents submitted under the U.S. Foreign Agents Registration Act (FARA), the DCI Group signed the agreement with the ministry on July 31, the day Myanmar's military nominally transferred power to a civilian-led interim government ahead of a planned election. Sign up here. Myanmar's leadership under military chief Min Aung Hlaing seized power in a 2021 coup and that year an Israeli-Canadian lobbyist they hired to represent them in Washington and other capitals said he had stopped his work because U.S. sanctions on the generals prevented him from being paid. The U.S. Treasury Department, the DCI Group, the U.S. State Department and Myanmar's Washington embassy did not immediately respond to requests for comment when asked if U.S. sanctions would affect the agreement between the Myanmar ministry and the DCI Group. The formation of an interim government signals no change to the status quo in Myanmar, with Min Aung Hlaing holding on to all major levers of power as acting president while retaining his position as chief of the armed forces. He has appeared eager to engage with U.S. President Donald Trump's administration after years of isolation. When Trump threatened new tariffs on Myanmar's U.S.-bound exports this month as part of his global trade offensive, he did so in a signed letter addressed personally to Min Aung Hlaing. The general responded by lavishing praise on Trump for his "strong leadership" while asking for lower rates and the lifting of sanctions. He said he was ready to send a negotiating team to Washington, if needed. "TRADE, NATURAL RESOURCES" According to the FARA filing, the DCI Group "shall provide public affairs services to (the) client with respect to rebuilding relations between the Republic of the Union of Myanmar and the United States, with a focus on trade, natural resources, and humanitarian relief." The filing was signed on August 1 by DCI managing partner Justin Peterson, who served in the previous Trump administration, and another managing partner, Brian McCabe. Reuters reported last year that the FBI has been investigating the DCI Group over its alleged role in a hack-and-leak operation that targeted hundreds of its client Exxon Mobil's biggest critics. The DCI Group has said the allegations that it commissioned the hacking operation were false and that it directs all of its employees and consultants to comply with the law. In 2008, two top aides to then Republican presidential nominee John McCain resigned after work they did with the DCI Group for a previous military junta in Myanmar came to light. Jim Murphy, a former DCI president and managing partner, served as Trump's national political director during his 2016 campaign. Myanmar's state media reported on Thursday that Myint Swe, who became Myanmar's president during the 2021 coup that saw the arrest of incumbent Win Myint and Nobel laureate and de facto leader Aung San Suu Kyi, had died in hospital earlier in the day. Myint Swe, a 74-year-old former general, was placed on medical leave in July last year, with his duties passed to Min Aung Hlaing. Engaging the junta would be a sharp departure for the United States, given U.S. sanctions on the military leaders and the violence committed against the Rohingya minority that Washington calls genocide and crimes against humanity. Last month, the Trump administration lifted sanctions designations on several junta allies , opens new tab, but U.S. officials said this did not indicate any broader shift in U.S. policy toward Myanmar and was unrelated to the general's letter. Last week Reuters reported that the administration had heard competing proposals on ways to divert Myanmar's vast supplies of rare earth minerals away from strategic rival China, although nothing had been decided upon amid major logistical and geopolitical obstacles. Securing supplies of so-called heavy rare earths, used in high-tech weaponry, is a major focus of the administration in its competition with China, which is responsible for nearly 90% of global processing capacity. https://www.reuters.com/world/china/myanmar-signs-deal-with-washington-lobbyists-rebuild-us-relations-2025-08-08/

2025-08-07 23:46

HOUSTON, Aug 7 (Reuters) - More than 300 United Steelworkers union (USW) refinery and chemical plants workers meeting in Pittsburgh approved on Thursday proposals for labor negotiations set to begin early in 2026 with energy companies, said Mike Smith, chair of national oil bargaining for the union. The current four-year contract covering 30,000 workers expires shortly after 12 a.m. on Feb. 1, 2026. The USW members work at refineries that account for over half of national crude oil processing capacity. Sign up here. USW negotiators led by Smith and including International President David McCall and International Vice President Roxanne Brown will begin meeting in January with negotiators from Marathon Petroleum (MPC.N) , opens new tab, which will be representing the industry. "As the lead company in national pattern negotiations, MPC looks forward to productive negotiations with the USW and is committed to working toward a mutually satisfactory agreement,” said Marathon spokesperson Jamal Kheiry. A key issue will be wage increases for refinery and chemical plant workers, who average more than $50 an hour for inside operators. “I would say the proposals on wages are significant for the times in which we are living,” Smith said. He declined to be more specific about the union’s wage proposals. Another top issue is the cost of health care, Smith said. “We’re trying to secure good decent health care without bearing the brunt of rising costs,” he said. And as with many industries, the union has a proposal on artificial intelligence. “The AI proposal is really to protect us as we try to understand the impacts on our sector,” Smith said. A supermajority of local unions must approve the proposals agreed to in Pittsburgh within 45 days so they can be brought to the bargaining table. Smith said he could not now predict how difficult or easy the negotiations might be with Marathon. "It is early,” he said. “No bargaining session is easy or simple. Our members are ready to do what it takes to secure a good contract for our membership.” At negotiations in 2022, the USW secured a 2.5% wage increase in the first year, 3% in both the second and third years and 3.5% in the fourth year. https://www.reuters.com/business/world-at-work/united-steelworkers-union-sets-proposals-next-refinery-worker-contract-2025-08-07/

2025-08-07 23:29

India's garment industry faces crisis due to Trump tariffs Exporters scrambling to look for manufacturing options abroad Some manufacturers told by US buyers to put orders on hold MUMBAI/CHENNAI, Aug 8 (Reuters) - Ever since Donald Trump's tariff salvo on India this week, garment maker Pearl Global - whose U.S. client list includes Gap and Kohl's - has been receiving midnight panic calls with an ultimatum: share the tariff hit or move production out of India. To calm U.S. customers' nerves, Pearl Global (PGIL.NS) , opens new tab has offered to shift production to its 17 factories in Bangladesh, Indonesia, Vietnam and Guatemala to bypass the steep U.S. levies on Indian imports. Sign up here. "All the customers are already calling me. They want us to ... shift from India to the other countries," Managing Director Pallab Banerjee told Reuters in an interview. Trump's initial tariff proposals in April - which were lower for India than for the rival Asian garment hubs of Bangladesh, Vietnam and China - had been seen as an opportunity for India to rapidly expand in the $16 billion apparel exports market. But the tables have turned as relations between New Delhi and Washington have soured, with India now facing a 50% tariff, versus 20% for Bangladesh and Vietnam, and 30% for China. Pearl gets roughly half of its business from the United States. Some clients offered to continue taking products from India if it could share the tariff burden, but that is not viable, Banerjee said, without naming the customers. 'IN THE DOLDRUMS' The 50% U.S. tariff - comprising 25% that kicked in on Thursday and another 25% due to come into force on August 28 as a penalty for buying Russian oil - has stunned U.S. garment buyers and their Indian suppliers, who say they are considering taking their manufacturing operations beyond Indian shores, even to less-established garment hubs like Ethiopia and Nepal. Some exporters also say they have been asked by U.S. clients to put orders on hold. New Delhi has called Trump tariffs "extremely unfortunate". India's garment sector was already grappling with a labour crunch and limited production capacity. But the prospect of exporters shifting production outside India would also be a blow to Prime Minister Narendra Modi's "Make in India" policy drive. While Pearl can use its foreign factories to meet U.S. orders, exporters that rely on domestic factories are set to be hit much harder. RichaCo Exports has shipped $111 million of garments to the U.S. this year, with clients such as J. Crew Group, customs data shows. All were made in its more than two dozen factories across India. Around 95% of its annual Indian revenues come from the United States, said general manager Dinesh Raheja. "We're exploring setting up a manufacturing base in (Nepal's capital) Kathmandu," he said. "The industry is in the doldrums." ORDERS ON HOLD Earlier this week, India's biggest jeweller and watchmaker Titan (TITN.NS) , opens new tab told Reuters it was looking at shifting some manufacturing to the Middle East to maintain low-tariff access to U.S. markets. Amit Agarwal, finance chief of top Indian garment maker Raymond, said he was pinning hopes on the company's one factory in Ethiopia - which faces just a 10% U.S. tariff and could possibly add more production lines within three months to cater to U.S. clients. The tariff threat comes as India was emerging as a big alternative for U.S. garment buyers like Walmart (WMT.N) , opens new tab, as Bangladesh faces a political crisis, and companies look to diversify supply chains beyond China. Indian garment hub Tiruppur in the south, considered the country's knitwear capital and which accounts for nearly one-third of apparel exports, was bullish about the future earlier this year when Reuters visited and talked to exporters. Panic has now descended on the hub. Some factories in Tiruppur have been asked by customers to hold orders, while some plan to ship as many goods as possible before the full 50% tariff kicks in, said Naveen Micheal John, executive director at Cotton Blossom India. "An importer, which had placed orders for underwear, has come back saying that if you haven't purchased yarns ... keep it on hold for now," he said. Some garments in Tiruppur cost U.S. clients as little as $1, while a women's or men's T-shirt can vary from about $3.5-$5, which could soon face 50% tariffs, said N. Thirukkumaran, general secretary of the Tiruppur Exporters Association. https://www.reuters.com/world/china/trump-tariffs-hit-indias-garment-makers-us-buyers-say-move-production-2025-08-07/

2025-08-07 23:23

Mexico's 10-year plan aims to revitalize Pemex with help of fracking Sheinbaum approves fracking despite previous opposition Mexico's oil output has declined from about 3.4 million bpd in early 2000s to 1.6 million bpd MEXICO CITY, Aug 7 (Reuters) - Mexico is planning to increase the use of hydraulic fracturing to tap unconventional hydrocarbon deposits and boost oil and gas production after years of declining output, marking a shift in its stance on what some say is a highly polluting practice. The evaluation and development of unconventional resources hidden deep underground within complex geological formations is part of a 10-year plan unveiled on Tuesday to revitalize Petroleos Mexicanos, or Pemex, Mexico's deeply indebted state energy company. Sign up here. Mexico had attempted to exploit unconventional oil and gas plays that required hydraulic fracturing, or fracking, following sweeping energy reform in 2014, but the bidding processes to secure contracts were unsuccessful. Former President Andres Manuel Lopez Obrador, in office from 2018 to 2024, ruled out developing oil and gas reserves via fracking, a practice he publicly condemned and which environmentalists object to because it uses large volumes of water and contaminates groundwater. President Claudia Sheinbaum, Lopez Obrador's successor, has signed off on the production method, however, even though she had said during her 2024 election campaign she would not allow it. "We're going to address all the geological potential we have," said Pemex CEO Victor Rodriguez on Tuesday, when the company's revitalization plan was presented during Sheinbaum's daily morning press conference. The plan said there is very significant potential for production in fields with "complex geology", referring to shale basins in which oil and gas are extracted using fracking technology. This includes about 64 billion barrels of crude oil-equivalent production, mainly in the basins of Tampico-Misantla, Sabinas-Burro Picachos, and Burgos. "These types of deposits have the potential to change Mexico's declining production outlook ... if implementation plans are established that favor private investment in the exploration and exploitation of these resources," the plan said. Pemex has been fracking for years in some onshore fields near the Gulf of Mexico coast, but does not disclose how much production is generated that way. The majority of the company's oil and gas comes from old offshore fields in shallow waters. Pemex is seeking to stem a decline in its crude oil production, which is around 1.6 million barrels per day, down from about 3.4 million bpd in the early 2000s, and increase natural gas output. TARGETS Despite being a major oil and gas producer, Mexico remains highly dependent on imports from the United States, both for natural gas and refined products like gasoline and diesel. The plan unveiled on Tuesday outlined a modest production increase of unconventional resources between 2026 and 2028, and a significant ramp-up in volumes starting in 2029. The cumulative addition to production by 2030 would be 197 million barrels of crude oil and 303 billion cubic feet of gas, according to the plan, although Pemex did not share details on how those increases would be achieved. Pemex's plan highlighted technological advances made over the last decade in well design, drilling and completion that it said would minimize environmental impacts and preserve freshwater resources. "Hydraulic fracturing today has nothing to do with that of 20 years ago," Fluvio Ruiz, a former independent advisor for Pemex, said in an interview, adding that both techniques and technologies have advanced since. "One of the advantages of being late or waiting (to exploit unconventional resources) is that there are already technically very well-designed regulations; there's no need to reinvent the wheel," Ruiz said. https://www.reuters.com/business/energy/mexico-pivots-towards-fracking-lift-pemex-oil-gas-production-2025-08-07/