The EU on Wednesday proposed curbing trade ties with Israel and sanctioning ministers in its strongest action over the war in Gaza, but the measures will struggle to be adopted due to reluctance from key member states.

"I want to be very clear, the aim is not to punish Israel. The aim is to improve the humanitarian situation in Gaza," EU foreign policy chief Kaja Kallas said.

Democrats are planning to force two Senate votes on President Donald Trump's tariffs in the coming weeks, keeping pressure on Senate Republicans as many of them have voiced frustration with the policies.

U.S. President Donald Trump arrives in the United Kingdom on Tuesday for a state visit during which the British government hopes a multibillion-dollar technology deal will show the transatlantic bond remains strong despite differences over Ukraine, the Middle East and the future of the Western alliance.

A framework deal has been reached between China and the U.S. for the ownership of popular social video platform TikTok, U.S. Treasury Secretary Scott Bessent said after weekend trade talks in Spain.

President Donald Trump's push to revitalize American manufacturing by luring foreign investment into the U.S. has run smack into one of his other priorities: cracking down on illegal immigration.

Hardly a week after immigration authorities raided a sprawling Hyundai battery plant in Georgia, detained more than 300 South Korean workers and showed video of some of them shackled in chains, South Korean President Lee Jae Myung warned that the country's other companies may be reluctant to take up Trump's invitation to pour money into the United States.

Russia's central bank on Friday cut its key interest rate, but warned inflation was still too high, amid growing concerns over an economic slowdown amid the Ukraine offensive.

EU countries on Friday agreed to prolong Ukraine-related sanctions for another six months on over 2,500 Russian individuals and entities, including President Vladimir Putin, diplomats said.

Ambassadors from the bloc's 27-member states signed off on the move ahead of a deadline on Monday, after Hungary and Slovakia dropped demands to take a number of people off the blacklist, diplomats said, speaking on condition of anonymity.

Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.

Wall Street is ticking toward more records on Thursday following mixed U.S. data that likely keeps the path clear for the Federal Reserve to cut interest rates in order to boost the economy.

The battle among billionaires for bragging rights as the world's richest person got heated Wednesday with the surprising surge of an old contender: Larry Ellison.

In a stunning few minutes after markets opened, stock in Ellison's Oracle Corp. rocketed more than a third, enough for him to temporarily wrest the title from its longtime holder Elon Musk and hand it to the software giant's co-founder.