US manufacturing contraction deepens in June

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Washington — U.S. manufacturing activity edged lower in June, deepening a recent slump on continued weak demand, according to industry survey data published Monday.

The Institute for Supply Management’s (ISM) manufacturing index came in at 48.5% last month, down 0.2 percentage points from May.

The June data came in below market expectations of 49.1%, according to Briefing.com, and marked the third consecutive month where the reading was below the 50-point mark separating expansion from contraction.

“U.S. manufacturing activity continued in contraction at the close of the second quarter,” ISM survey chief Timothy Fiore said in a statement.

“Demand remains subdued, as companies demonstrate an unwillingness to invest in capital and inventory due to current monetary policy and other conditions,” he continued, referring to the U.S. Federal Reserve’s ongoing battle against rising prices.

Inflation has fallen sharply since the Fed began hiking interest rates in 2022, but remains stuck above its long-term target of 2% — keeping borrowing costs high for both consumers and producers.

“Production execution was down compared to the previous month, likely causing revenue declines, putting pressure on profitability,” Fiore said.

June’s data extends the recent slump, which began after a positive reading in March briefly snapped 16 straight months of contraction.

The ISM survey found that eight manufacturing industries reported growth in June, including petroleum and coal products, and chemical products, while nine contracted, including textile mills, transportation equipment, and electrical equipment.

“Manufacturing activity remained in contraction territory in June, but in a sign of moderating inflation pressure, the prices paid component fell 4.9 points,” Wells Fargo economists wrote in a note to clients.

“New orders rose more than any other component but remains in contraction,” they added.

 
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Shakespeare Library reopens in Washington with rare artifacts on display

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Washington, D.C., home to the world’s largest collection of William Shakespeare’s works, has unveiled a treasure trove that most have never seen. The Folger Shakespeare Library reopened its doors after a four-year long renovation, revealing the most valuable part of its collection to the public for the first time. Maxim Adams visited the library.
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Economic turmoil in Bolivia fuels distrust in government and its claim of a ‘failed coup’

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LA PAZ — Signs reading “I’m buying dollars” line the doors of Víctor Vargas’ shoe shop in the heart of Bolivia’s biggest city, a desperate attempt to keep his family business alive.

Just a few years ago, the 45-year-old Vargas would unlock the doors at 8 a.m. to a crush of customers already waiting to buy tennis shoes imported from China. Now, his shop sits hopelessly empty.

“Right now, we’re in a dreadful crisis,” he said. “No one buys anything anymore. … We don’t know what’s going to happen.”

Bolivians like Vargas have been hit hard by economic turmoil in the small South American nation fueled by a longtime hyper-dependence on, and now shortage of, U.S. dollars.

The economic downturn has been exacerbated by an ongoing feud between President Luis Arce and his ally-turned-rival former President Evo Morales in the lead-up to next year’s presidential election. Many Bolivians impacted by the crisis have lost trust in Arce, who denies the country is even in an economic crisis.

“Bolivia has an economy that’s growing. An economy in crisis doesn’t grow,” Arce told The Associated Press in an interview. That was contradicted by both economists and dozens of Bolivians.

That deep distrust came to a head on Wednesday following a spectacle which the government called a “failed coup d’etat” and opponents including Morales called a staged “self-coup” meant to earn the unpopular leader political points before elections.

Whether the coup attempt was real or not, most Bolivians who spoke to the AP said they no longer believe what their leader says, and say Arce would be better served addressing Bolivia’s gasping economy and less time carrying out political stunts.

“He should think about Bolivia’s economy, make a plan to move forward, find a way to get dollars and work to move Bolivia forward,” Vargas said. “No more of these childish ‘self-coups.’”

That simmering anger has paved the way for even more strife in a country that is no stranger to political unrest.

Bolivia’s economic crisis is rooted in a complex combination of dependence on the dollar, draining international reserves, mounting debt and failures to produce products like gas, once the Andean nation’s economic boon.

This has meant that Bolivia has largely become an import economy “totally dependent on dollars,” said Gonzalo Chávez, an economist with Bolivia’s Catholic University. That once worked in Bolivia’s favor, driving the country’s “economic miracle” as it became one of the region’s fastest growing economies.

Vargas’ family opened the shoe business nearly 30 years ago because they saw it as a surefire way to ensure stability for coming generations. The family imports shoes from China, which they pay for in dollars and sell them in Bolivia’s currency, bolivianos. Without dollars, they have no business.

The shortage of dollars has led to the emergence of a black market, with many sellers bringing in greenbacks from neighboring Peru and Chile and selling them at a gouged price.

Pascuala Quispe, 46, spent her Saturday walking around La Paz’s downtown going to different currency exchange shops, desperately searching for dollars to buy car parts. While the official exchange rate is 6.97 bolivianos to the dollar, she was told the real price was 9.30 bolivianos, far too high a price for her. So she kept walking, hoping to find luck elsewhere.

Gouged prices have trickled down to everything. People have stopped buying shoes, meat and clothing, and that has pushed working class people deeper into poverty. Bolivians make jokes about having “mattress banks,” storing cash at home because they don’t trust banks.

“There are no jobs. … and the money we earn isn’t enough for anything,” Quispe said. “Everyone suffers.”

Some vendors like Vargas paste signs on their business doors, hopeful sellers will trade dollars at a more reasonable price.

It’s a complicated economic bind that has few short-term solutions, said Chávez, the economist.

But Arce insists that Bolivia’s economy is “one of the most stable” and says he’s taking action to address problems ailing Bolivians, including shortages of dollars and gasoline. He said the government is also industrializing, investing in new economies like tourism and lithium.

While Bolivia sits on the world’s biggest stores of lithium, a high-value metal key to transitioning to a green economy, investment is only viable in the long term, largely due to government failures, said Chávez. Meanwhile, inflation has outpaced economic growth, and most Bolivians face unstable work conditions with minuscule pay.

That is only compounded by ongoing fights between Arce and Morales, who returned from exile after resigning during unrest in 2019, which Morales maintains was a coup against him. Now the former allies have slung insults and fought over who will represent their Movement for Socialism party, known by its Spanish acronym MAS, ahead of 2025 elections.

“Arce and Evo Morales, they fight over who is more powerful,” Vargas said. “But neither govern for Bolivia. … There’s a lot of uncertainty.”

Broad discontent has fueled waves of protests and strikes in recent months. Protests and road blocks have dealt another economic blow to Vargas, the shoe vendor, because customers from all over the country no longer travel to buy products because of the chaos of ubiquitous protests.

Morales, who still wields a great deal of power in Bolivia, blocked Arce’s government from passing measures in Congress to ease the economic turmoil, which Arce told the AP was a “political attack.”

Morales has fueled speculation that the military assault on the government palace last week allegedly led by former military commander José Zúñiga was a political stunt organized by Arce to gain sympathy from Bolivians. The claim was first made by Zúñiga himself upon his arrest.

“He tricked and lied to, not just the Bolivian people, but the entire world,” Morales said in a Sunday radio program.

The political spats left many like 35-year-old Edwin Cruz, a truck driver, shaking their heads as they wait for hours, sometimes days, in long lines for diesel and gasoline because of intermittent shortages caused by lack of foreign currency.

“Diesel is like gold now,” he said. “People aren’t idiots. And with this whole thing with the ‘self-coup’ this government has to go.”

Cruz is among those who don’t want to vote for either Morales or Arce. While Bolivians have few other options, Chávez said discontent opened a “small window” for an outsider to gain traction, just as it has with a number of Latin American outsiders in recent years.

Most recently, self-described “anarcho-capitalist” Javier Milei has taken the helm of neighboring Argentina with promises to lift the country out of its economic spiral, which shares a number of similarities with Bolivia’s.

Meanwhile, Vargas doesn’t know what he’ll do with his family’s shoe store. Once a point of pride, the shop has turned into a financial drain. He would pass it down to one of his four children, but all of them want to leave Bolivia. One of his children has already migrated to China.

“They don’t want to live here anymore,” Vargas said in his empty store. “Here in Bolivia, there’s no future.”
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LGBTQ+ Pride Month culminates with parades in New York, San Francisco and beyond

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New York — The monthlong celebration of LGBTQ+ Pride reached its exuberant grand finale on Sunday, bringing rainbow-laden revelers to the streets for marquee parades in New York, Chicago, San Francisco and elsewhere across the globe.

The wide-ranging festivities functioned as both jubilant parties and political protests, as participants recognize the community’s gains while also calling attention to recent anti-LGBTQ+ laws, such as bans on transgender health care, passed by Republican-led states.

“We’re at a time where there’s a ton of legislation, anti-LGBTQ+ legislation,” Zach Overton, 47, said at the New York parade. “It feels like we’re taking a step backwards in the fight for equality and so it’s a great moment to come out and be with our community and see all the different colors of the spectrum of our community and remind ourselves what we’re all fighting for.”

Thousands of people gathered along New York’s Fifth Avenue to celebrate Pride. Floats cruised the street as Diane Ross’ “I’m Coming Out” played from loudspeakers. Pride flags filled the horizon, and signs in support of Puerto Rico, Ukraine and Gaza were visible in the crowd.

This year, tensions over the Israel-Hamas war in Gaza are also seeped into the celebrations, exposing divisions within a community that is often aligned on political issues.

Protesters temporarily blocked the New York parade on Sunday, chanting: “Free, free, free Palestine!” Police eventually took some of them away.

Pro-Palestinian activists disrupted pride parades earlier in June in Boston, Denver, and Philadelphia. Several groups participating in marches Sunday said they would seek to center the victims of the war in Gaza, spurring pushback from supporters of Israel.

“It is certainly a more active presence this year in terms of protest at Pride events,” said Sandra Perez, the executive director of NYC Pride. “But we were born out of a protest.”

The first pride march was held in New York City in 1970 to commemorate the one-year anniversary of the Stonewall Inn uprising, a riot that began with a police raid on a Manhattan gay bar.

Nick Taricco, 47, who was at the New York parade with Overton, said he attended Friday’s opening of the Stonewall National Monument Visitor Center, where President Joe Biden spoke. Taricco said he has concerns about politics in the U.S., including the presidential election.

“Even given how old he is, I still think that’s the direction we need to go in,” Taricco said of Biden. “But it’s a very uncertain time in general in this country.”

Ireland Fernandez-Cosgrove, 23, celebrated at the New York parade.

“New York City is a great place to live, but this is one of the only days where you can come out and be openly queer and you know you’re going to be OK and safe about it,” she said. “I came out here today with my partner to be able to be ourselves in public and know that other people are going to be supporting us.”

In addition to the NYC Pride March, the nation’s largest, the city also played host Sunday to the Queer Liberation March, an activism-centered event launched five years ago amid concerns that the more mainstream parade had become too corporate.

Another one of the world’s largest Pride celebrations also took place Sunday in San Francisco.

Tens of thousands of revelers packed sidewalks along Chicago’s parade, a scaled-back event from previous years. City officials shortened the North Side route and the number of floats this year from 199 to about 150 over safety and logistical concerns, including to better deploy police into evening hours as post-parade parties have become more disruptive in recent years. Chicago’s parade, one of the largest in the U.S., routinely draws about 1 million people, according to the city. Sunday’s crowd estimates were not immediately available.

Additional parades were scheduled in Minneapolis and Seattle.

On top of concerns about protests, federal agencies have warned that foreign terrorist organizations and their supporters could target the parades and adjacent venues. A heavy security presence was expected at all of the events.
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В «Укренерго» розповіли, у які години вимикатимуть світло 1 липня

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«Актуальні графіки погодинних відключень можна дізнатись на сайтах обленерго та на їхніх сторінках у соцмережах. Коли світло є –споживайте, будь ласка, ощадливо»
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Expanding extremist groups in Africa fuel worries that they could attack the US, allies

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GABORONE, Botswana — Violent extremist groups linked to al-Qaida and the Islamic State group are growing in size and influence across Africa, fueling worries that as they improve their tactics they could attack the U.S. or Western allies.

U.S. defense and military officials described the threats and their concerns about growing instability in Africa, where a number of coups have put ruling juntas in control, leading to the ouster of American troops and a decline in U.S. intelligence gathering.

“Threats like Wagner, terrorist groups and transnational criminal organizations continue to sow instability in multiple regions,” Air Force Gen. CQ Brown, chairman of the Joint Chiefs of Staff, said in opening remarks Tuesday at a conference of African chiefs of defense in Botswana. “I think we can all agree, what happens in one part of the world, does not stay in one part of the world.”

Wagner is the Russian mercenary group that has gone into African nations to provide security as Western forces, including from the U.S. and France, have been pushed out. The group is known for its brutality, and human rights organizations have accused its members of raping and killing civilians.

While Brown only touched briefly on the terror threat in the region, it was a key topic among others at the conference and spurred questions from military chiefs in the audience after his speech. They wanted to know what the U.S. could do to help stem the spread of insurgents in West Africa, the Gulf of Guinea and the Sahel.

This is the first time that the chiefs of defense conference has been held on African soil. And it is the first time the U.S. joint chiefs chairman has visited a sub-Saharan country since 1994, when Gen. John Shalikashvili visited Rwanda and Zaire.

A senior U.S. defense official said al-Qaida linked groups — such as al-Shabab in Somalia and Jama’a Nusrat ul-Islam wa al-Muslimin, known as JNIM, in the Sahel region — are the largest and most financially viable insurgencies. JNIM is active in Mali, Burkina Faso and Niger and is looking to expand into Benin and Togo, which it uses as hubs to rest, recuperate, get financing and gather weapons but also has increased attacks there.

At the same time, the Islamic State group has key cells in West Africa and in the Sahel. The defense official, who spoke on condition of anonymity to discuss a threat assessment, said the Islamic State cells were getting increasing direction from the group’s leadership that relocated to northern Somalia. That has included how to kidnap Westerners for ransom, how to learn better military tactics, how to hide from drones and how to building their own small quadcopters.

A U.S. military airstrike in Somalia on May 31 targeted Islamic State militants and killed three, according to U.S. Africa Command. U.S. officials have said the strike targeted the group’s leader, but the defense official said Monday that it’s still unclear if he was killed.

Roughly 200 Islamic State insurgents are in Somalia, so they are vastly outnumbered by al-Shabab, which has grown in size to between 10,000 and 12,000.

The growth of the insurgent groups within Africa signals the belief by both al-Qaida and the Islamic State group that the continent is a ripe location for jihadism, where extremist ideology can take root and expand, the official said.

And it comes as the U.S. was ordered to pull out its 1,000 troops from Niger in the wake of last July’s coup and also about 75 from Chad. Those troop cuts, which shut down a critical U.S. counterterrorism and drone base at Agadez, hamper intelligence gathering in Niger, said Gen. Michael Langley, head of U.S. Africa Command.

Surveillance operations before the coup gave the U.S. a greater ability to get intelligence on insurgent movements. Now, he said, the key goal is a safe and secure withdrawal of personnel and equipment from both Agadez and a smaller U.S. facility near the airport.

Langley met with Niger’s top military chief, Brig. Gen. Moussa Salaou Barmou, during the conference, and said military-to-military communications continue but that it’s yet to be determined how much the new transitional government will deal with the U.S.

Currently, he said, there are about 400 troops still at Agadez and 200 near the airport.

But, he added that “as we’re in transition and resetting, we need to maintain capabilities to get enough intelligence to identify warnings of a threat out there.”

Langley said the U.S. is still trying to assess the militant groups’ capabilities as they grow.

“Yes, they’ve been growing in number. Have they been growing in capability where they can do what we call external ops attacks on the homeland and attacks on allies, whether we’re talking about Europe or anyone? That’s what we closely watch,” he said. “I’d say it has the potential as they grow in numbers.”

Both Langley and Brown spoke more extensively about the need for the U.S. and African nations to communicate more effectively and work together to solve security and other problems.

And Brown acknowledged that the U.S. needs to “do better at understanding the perspectives of others, ensuring their voices and expertise don’t get drowned out.”

The U.S has struggled to maintain relations with African nations as many foster growing ties to Russia and China.

Some African countries have expressed frustration with the U.S. for forcing issues, such as democracy and human rights, that many see as hypocrisy, given Washington’s close ties to some autocratic leaders elsewhere. Meanwhile, Russia offers security assistance without interfering in politics, making it an appealing partner for military juntas that seized power in places like Mali, Niger and Burkina Faso in recent years.
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