Ata mārie and welcome to your Tuesday summary of international business and political news.
First up, US President Donald Trump said his administration is "reviewing everything" after the fatal shooting by immigration agents of intensive care nurse Alex Pretti in Minneapolis on the weekend, the BBC reported.
Trump is facing tough calls, including from within his own party, for a full investigation into what happened. The Trump administration claimed that Pretti was carrying a gun and posed a danger to officers. However, local authorities denied that and said Pretti was shot after the firearm was removed.
Law enforcement officer Tom Homan will head to Minnesota to manage US Immigration and Customs Enforcement’s on-the-ground operations following Pretti’s death, CNBC reported.
“Tom is tough but fair, and will report directly to me,” Trump said.
White House press secretary Karoline Leavitt said Homan will also coordinate with officials leading ongoing investigations into fraud schemes in Minnesota.
Trump’s decision to give Homan control in Minnesota comes as Homeland Security Secretary Kristi Noem and other administration officials face criticism, including from gun rights groups and some conservatives, over their leadership in Minneapolis.
Israeli Prime Minister Benjamin Netanyahu confirmed the remains of the last Israeli hostage in Gaza had been found. Twenty-four-year-old police officer Ran Gvili was killed in 2023 when Hamas launched its deadly attacks against Israel, the ABC reported.
His body was then taken over the border into the Gaza Strip, where it remained for more than two years. A major search operation was launched over the weekend and Gvili's remains had been formally identified.
"This is an incredible achievement for the State of Israel," Netanyahu said. "We promised – I promised – to return them all, and we returned them all. Ran is a hero of Israel. He went in first and he came out last."
Israeli Prime Minister Benjamin Netanyahu.
Elsewhere, gold has continued to rise and has soared past US$5000 an ounce for the first time, amid global geopolitical uncertainty. Now, analysts predict a surge to US$6000 by the end of this year.
DeVere Group chief executive Nigel Green said gold was also reacting to a debt “super cycle” that showed few signs of easing. “When governments lean heavily on borrowing, investors hedge against currency ‘debasement’ and long-term inflation. Gold is stepping back into its historical role as a store of value when trust in debt markets weakens.”
Capital.com senior market analyst Daniela Hathorn said gold’s march towards new highs and silver’s recent strength were less like anomalies and more like symptoms: “Symptoms of a global system under strain, where capital increasingly seeks refuge in assets that sit outside political discretion,” she said.
“As long as fiscal dominance, geopolitical fragmentation, and central bank credibility remain in question, precious metals are likely to stay at the centre of this perfect storm, not just as hedges but as alternatives.”
Canadian Prime Minister Mark Carney said his country had no intention of pursuing a free trade deal with China. Carney responded to Trump’s threat to impose a 100% tariff on Canadian goods if it went ahead with a trade deal. Carney said a recent agreement with China merely cut tariffs on some sectors, the Guardian reported.
“We have no intention of doing that with China or any other non-market economy. What we have done with China is to rectify some issues that developed in the last couple of years.”
Russian President Vladimir Putin.
Trilateral talks between Ukraine, Russia, and the US last week failed to reach a breakthrough to end the ongoing conflict, but negotiators planned further meetings this week.
Ukrainian President Volodymyr Zelensky said there were "unresolved" issues on "complex political matters", with territory thought to still be a major sticking point, the ABC and AP reported.
Delegates from all three sides were expected to resume negotiations in the United Arab Emirates. While Ukrainian and Russian officials had agreed in principle with the US’s suggestion for a compromise, Russia and Ukraine differed deeply over what an agreement should look like.
The European Commission has launched an investigation into Elon Musk’s chatbot Grok, amid concerns about sexually explicit fake images of women and young people.
The investigation will examine whether the AI tool used on social platform X had met its legal obligations under the European Union’s Digital Services Act, Al Jazeera said.
European Commission President Ursula von der Leyen said Europe would not tolerate “unthinkable behaviour”, such as digital undressing of women and children.
“It is simple, we will not hand over consent and child protection to tech companies to violate and monetise. The harm caused by illegal images is very real,” she said.
Elon Musk.
Finally, the business wing of Germany’s leading Christian Democratic Union party is proposing a ban on the legal entitlement to work part-time, arguing that those wishing to work fewer hours should have special permission, the Guardian reported.
Currently, every employee in Europe’s largest economy has a fundamental right to carry out part-time work. But the CDU said no-one should have a legal entitlement to do what it referred to as ‘lifestyle’ work.
“Those who can work more should work more,” business wing chair Gitta Connemann said.
The proposal is expected to be passed at the CDU’s general conference next month to help improve the country’s sluggish productivity and economic growth.
