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Fast food from US and China catches on in both countries

China and the United States are divided on many issues, from tariffs and technology to Taiwan. But there is one thing tying them together: fast food.

American restaurant and beverage chains are expanding rapidly in China, drawn by the potential customer pool in a country with four times the U.S. population. China's languishing economy and cutthroat industry competition, meanwhile, have Chinese chains trying their luck in the U.S., turning crumbs and straws into a two-way cultural bridge between the two superpowers.

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In Chile, even beloved hot dogs feel the economic squeeze

It is lunchtime in downtown Santiago, and dozens of businesses around the Plaza de Armas are serving up one of Chile's most democratic specialties: the "completo."

For decades, the country's version of the hot dog has been one of the most affordable foods enjoyed across social classes. But as the cost of living rises and the economy struggles, even the humble snack is feeling the impact.

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Trump shattered Canada's old US relationship, Carney is building a new one in Europe

For nearly four decades, Canada built its economy around closer integration with the United States. President Donald Trump has turned that dependence into leverage, imposing tariffs, threatening Canada's sovereignty and openly seeking to pull Canadian industrial production south.

Canadian Prime Minister Mark Carney has moved on. Rather than return to trade talks or wait for the next U.S. president to restore the old relationship, he is urgently building a future in which Canada is less dependent on America.

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US futures climb as oil prices drop and investors await expected Trump-Xi meeting

U.S. futures are climbing as oil prices decline and investors await an expected meeting between U.S. President Donald Trump and Chinese leader Xi Jinping this week in Washington, which could cover trade, artificial intelligence and geopolitics.

Futures for the S&P 500 gained 0.7% on Monday, while those for the Dow Jones Industrial Average rose 0.8%. Nasdaq futures climbed 1.1%.

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Turkey revokes license of Iran's Bank Mellat

Turkey has revoked the license of Iran's Bank Mellat, a semi-private financial entity that has been subject to Western sanctions for years, the official gazette said early Saturday.

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Brazil's Lula announces 15% increase in flagship welfare ahead of key election

Brazilian President Luiz Inácio Lula da Silva signed a decree on Thursday increasing benefits under his flagship welfare program by 15%, weeks before the first round of the presidential elections.

The minimum monthly benefit per family of Bolsa Familia, or Family Grant, will rise to 691 reais ($134) next month, from 600 reais ($117). The decree says that it adjusts payments for accumulated inflation since March 2023.

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Japan's central bank raises benchmark interest rate to 1.25%

Japan's central bank on Friday raised the benchmark interest rate to 1.25% from 1.0%, a 31-year-high.

The Bank of Japan has been trying to normalize monetary policy after decades of keeping interest rates near or below zero to try to encourage more borrowing and spending to counter deflation and pull Japan's economy out of the doldrums.

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Russia's wartime economy faces long-term erosion from debt and military spending

The frictions in Russia's wartime economy are growing, as massive military spending balloons the budget deficit. Consumers and businesses are gloomier. Growth has slowed.

None of that, however, signals an imminent financial crisis or economic collapse, economists say. With crucial oil export revenues holding up due to high prices from the Iran war, the government is able to find the money to pay for its 4 1/2-year-old invasion of Ukraine, at least for now.

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Bank of England holds rates but appears ready to hike soon

The Bank of England kept interest rates on hold Thursday while indicating that it could raise them soon in order to dampen inflationary pressures emanating from the fallout of the Iran war.

The decision was widely anticipated, with six members of the Monetary Policy Committee voting to keep rates unchanged, while three backed a quarter-point increase to 4%.

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Turkey proposes Russia-Ukraine deal to end Black Sea shipping attacks

Turkey has sent a proposal to Russia and Ukraine that would end attacks on civilian ships in the Black Sea, a Turkish diplomat told AFP on Thursday.

The move follows a sharp uptick in attacks in the Black Sea, which has seen at least 25 Turkish-owned vessels hit since late June, industry figures show.

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