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World breaking news today (September 24): Trump imposes new sanctions on Cuba

09:08 | 24/09/2020

World breaking news today (September 24): Trump on Wednesday imposed new sanctions on Cuba. Meanwhile, controversial Brexit bill passes latest stage in UK parliament, Lebanon's fractious politics puts French lifeline at risk and gold price also make headlines today.

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Trump imposes new sanctions on Cuba

President Trump on Wednesday imposed new sanctions on Cuba that would prohibit American citizens from staying at government-owned properties on the island and restricting imports of tobacco and alcohol, Yew York Post reported.

These actions will ensure that US dollars do not fund the Cuban regime and go directly to the Cuban people,” the president said during a speech from the White House honoring veterans of the Bay of Pigs operation.

Trump said the actions are part of his administration’s “continuing fight against Communist oppression.”

The State Department will soon release a list of the properties.

Speaking to the 23 veterans of the failed 1961 operation ordered by President John F. Kennedy to take out Cuban leader Fidel Castro, Trump proclaimed his administration’s support for the people of the Caribbean nation and said they will one day be free.

world breaking news today september 24 trump imposes new sanctions on cuba
President Trump on Wednesday imposed new sanctions on Cuba that would prohibit American citizens from staying at government-owned properties on the island and restricting imports of tobacco and alcohol (Photo: Hamodia)

Speaking to the veterans of Brigade 2506, Trump said, “Your bravery inspires all.”

The veterans we honor today are a powerful testament to all what a free people can achieve. In the past six decades, you have built strong families, thriving businesses and vibrant communities,” he said.

The president also took a shot at former President Barack Obama, who lifted some travel limits on Cuba, and his former Vice President Joe Biden.

The Obama-Biden administration made a weak, pathetic, one-sided deal with the Castro dictatorship that betrayed the Cuban people and enriched the Communist regime,” he said. “I canceled the Obama-Biden sellout to the Castro regime.”

The Trump administration has restricted flights to Cuba and has slapped sanctions on companies that ship oil from Venezuela to Cuba.

Controversial Brexit bill passes latest stage in UK parliament despite concerns

A controversial Brexit bill that could override parts of the Withdrawal Agreement signed with the EU has passed its latest stage in the UK's House of Commons after a compromise was struck with Conservative MPs.

MPs backed the government's UK Internal Market Bill on Tuesday night, which will be voted on again next week before being scrutinised by the House of Lords, the UK parliament's upper chamber.

A potential rebellion of Tory MPs was averted after the government promised the Commons would have a say before the new powers in the bill were used.

The legislation, which has caused an outcry in the EU and at home, could see the government renege on commitments relating to Northern Ireland it signed up to under a year ago.

Former UK Prime Minister Theresa May repeated her criticism of the bill this week, warning that it would do "untold damage" to the UK and accusing Boris Johnson's government of acting "recklessly and irresponsibly".

Around 30 Tory MPs abstained in the first parliamentary vote on the bill last week after a government minister admitted it would break international law.

world breaking news today september 24 trump imposes new sanctions on cuba
A controversial Brexit bill that could override parts of the Withdrawal Agreement signed with the EU has passed its latest stage in the UK's House of Commons (Photo: BBC)

Brandon Lewis, the Northern Ireland Secretary, told MPs that the bill "does break international law in a very specific and limited way".

The legislation, which the government described as a "safety net," was also widely criticised by opposition MPs and the EU, which has threatened legal action if contentious sections of the bill were not amended or removed.

The bill seeks to ensure an unimpeded flow of goods and services across the borders of the UK's four nations, overriding provisions made for Northern Ireland which were negotiated and ratified in the binding Withdrawal Agreement signed with the EU.

Under the deal, Northern Ireland is obliged to follow some EU rules after the end of the post-Brexit transition period, maintaining an open border with between the north and south of Ireland. after the UK leaves the EU's Single Market and Customs Union, according to Euro News.

Lebanon's fractious politics puts French lifeline at risk

Lebanon’s sectarian politicians have overshot one deadline they had agreed with France and missing more may put at risk a French lifeline to haul the Middle East nation out of its worst crisis since a 1975-1990 civil war.

France has drawn up a timeline for Lebanon to tackle corruption and deliver reforms to help secure billions of dollars in foreign aid to save a country drowning in debt.

But the leaders who oversaw years of wasted state spending and corruption have stumbled at the first hurdle by failing to deliver on a promise to French President Emmanuel Macron to form a new cabinet by mid-September.

Yet choosing a cabinet may prove the easy bit. Once named, the ministers have a mountain of challenges, ranging from reviving a paralysed banking industry to fixing a power sector that cannot keep the lights on in a nation of about 6 million.

Macron, who visited Beirut after a devastating Beirut port blast in August, has told politicians they could face sanctions if graft gets in the way. And Paris has repeatedly said there will be no aid without change, as reported by Reuters.

world breaking news today september 24 trump imposes new sanctions on cuba
Lebanon’s sectarian politicians have overshot one deadline they had agreed with France and missing more may put at risk a French lifeline to haul the Middle East nation out of its worst crisis since a 1975-1990 civil war. (Photo: Reuters)

Prices dropped as the dollar continues to gain traction

Gold prices broke down as the dollar continued to trade higher despite subdued US yields. Stronger than expected US mortgage applications buoy the greenback which paved the way for lower gold prices. The dollar continued to benefit from a safe-haven bid, which has not been the case for gold prices.

Gold prices broke down on Wednesday and are poised to test trget support is the August lows at 1,862. Resistance is seen near the 10-day moving average at 1,932. The 10-day moving average crossed through the 50-day moving average which means a short-term downtrend is in place. Medium-term momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal.

This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line). Short-term momentum is negative as the fast stochastic recently generated a crossover sell signal. The relative strength index is moving lower reflecting accelerating negative momentum.

world breaking news today september 24 trump imposes new sanctions on cuba
(Photo: The Quint)
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