Iran’s rial currency hits new record low as US prepares to announce more sanctions<\/p>\n
DUBAI, United Arab Emirates (AP) \u2014 Iran\u2019s currency hit a record low Monday as Washington prepared to announce new sanctions it said would be an \u201ceconomic D-Day\u201d and would add further pressure on an economy already battered by previous sanctions and a U.S. naval blockade.<\/p>\n
The rial dropped to 2.02 million to the U.S. dollar as trading opened on informal currency markets. Iran\u2019s official Central Bank rate stood at around 1.5 million rial to the dollar, but the informal rate is what most Iranians pay. <\/p>\n
The currency had already been under pressure before the U.S. and Israel attacked Iran on Feb. 28, with double-digit inflation and negative growth, but has been hitting new record lows as nearly six months of war have taken an even greater toll. <\/p>\n
Still, U.S. President Donald Trump has been unable to win concessions from Iran, which continues to keep a firm grip on shipping through the Strait of Hormuz, the key waterway through which a fifth of the world\u2019s traded oil transited freely before the war began. Iranian attacks and threats have severely hampered that traffic during the war.<\/p>\n
Iran and Oman, which is on the opposite side of the strait, are reportedly in the final stages of agreeing upon a plan for joint management of the waterway, which regional officials have said would include having ships to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman.<\/p>\n
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Iran official says support for new sanctions would be an ‘act of war,’ and other Middle East news<\/p>\n
The new head of Iran’s top security body warned Sunday that Tehran will see any country’s support for new U.S. economic measures against the Islamic Republic as an \u201cact of war,\u201d while Iran’s president defended a memorandum of understanding with the United States as the best way out of the stalled conflict.<\/p>\n
Treasury Secretary Scott Bessent on Monday is expected to announce the new measures after the U.S. vowed to impose an \u201cunprecedented\u201d level of economic warfare and isolation on a country that has lived for decades under sanctions. Also Monday, Pakistan\u2019s army chief is expected to visit Iran as mediators try to revive talks.<\/p>\n
Meanwhile, attacks calmed on the Strait of Hormuz but posturing did not, as a recently created Iranian authority listed dozens of vessels it said will face restrictions on future transits.<\/p>\n
Here\u2019s a look at the latest developments in the Iran war and the wider Middle East on Sunday. Full coverage can be found here.<\/p>\n
The hard-line leader of Iran\u2019s Supreme National Security Council, Mohsen Rezaei, issued his latest warning on X, with the comments quickly shared by Iranian state media.<\/p>\n
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Carney warned about economic coercion. Now Trump is testing the Canadian prime minister<\/p>\n
TORONTO (AP) \u2014 Mark Carney drew international attention as Canada\u2019s prime minister by warning that middle powers must resist economic coercion by more powerful countries. Now President Donald Trump is putting that warning to the test with sweeping new tariffs that could show how much economic pain Canada can absorb.<\/p>\n
Tensions escalated late Friday when Canada walked away from negotiations after Carney concluded the United States was demanding too much in exchange for tariff relief. The U.S. imposed 50% duties Saturday on about $20 billion worth of Canadian goods, and Carney announced dollar-for-dollar retaliation beginning Sept. 8.<\/p>\n
\u201cWe\u2019re going to hit back,\u201d Carney said.<\/p>\n
Carney is doing what many other American allies have so far avoided: risking economic pain rather than yielding to tariff pressure.<\/p>\n
For Carney, the showdown is the clearest test yet of his argument that middle powers must stand up to economic pressure from great powers such as the United States and China, even when it comes at a cost. Canada\u2019s response could show how countries navigate a world in which long-standing alliances offer less protection and economic ties themselves become sources of leverage.<\/p>\n
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Tropical Storm Moke set to dump more heavy rain on hurricane-stricken Hawaii<\/p>\n
HONOLULU (AP) \u2014 Tropical Storm Moke was swirling past Hawaii on Sunday, close enough to dump heavy rain on Big Island communities in the aftermath of Hurricane Lala. <\/p>\n
The National Hurricane Center located Moke’s center about 320 miles (515 kilometers) south-southwest of Hilo around midday. Top sustained winds were around 40 mph (65 kph), though the real impact was expected from rainfall in places where last weekend\u2019s hurricane flooded communities, triggered mudslides and damaged roads and power lines. Two deaths linked to the hurricane have been reported in Hawaii.<\/p>\n
Hawaii County Mayor Kimo Alameda advised residents in a social media post Sunday they \u201cshould stay off the roads and shelter in place\u201d as a precaution. He said anyone in need could take refuge at shelters that the county had opened at several locations.<\/p>\n
Forecasters expected Moke to produce as much as 10 inches (25 centimeters) of total rain across the Big Island, and up to 15 inches (38 centimeters) in some isolated places, enough to cause life-threatening flooding and mudslides for the windward and southeast slopes, especially in steep terrain and over areas affected by Lala. The center of the storm was expected to pass south of the Big Island, then south of the smaller main islands of Hawaii. <\/p>\n
In eastern Maui, up to 6 inches (15 centimeters) of rain was expected, and the other islands may get an inch or two (between 2.5 and 5 centimeters), according to the hurricane center.<\/p>\n
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Uganda and Burundi military officials visit Israel to discuss Gaza troop deployment<\/p>\n
TEL AVIV, Israel (AP) \u2014 Military officials from Uganda and Burundi visited Israel last week to discuss deploying troops to Gaza as part of an international security force envisioned by U.S. President Donald Trump\u2019s Board of Peace for the fragile ceasefire, according to officials.<\/p>\n
A Board of Peace official told The Associated Press that Ugandan officials joined a Burundian military delegation, and that Uganda is finalizing details of its participation after its parliament approved the troop contribution this month.<\/p>\n
Nothing has been finalized with Burundi, but the official said they look forward to starting the process.<\/p>\n
\u201cWe shared significant knowledge with one another, and the Burundi representatives expressed interest in our mission,\u201d the official said, speaking on condition of anonymity because they weren\u2019t authorized to discuss talks with potential troop-contributing countries ahead of any agreement.<\/p>\n
A Burundian military official told the AP that three other senior military officers led the delegation to Israel and that Burundi appeared intent on joining. The official spoke on condition of anonymity because he was not authorized to speak to the media.<\/p>\n
___<\/p>\n
European leaders join Zelenskyy in Kyiv for Ukraine\u2019s Independence Day as Russian invasion pushes on<\/p>\n
KYIV, Ukraine (AP) \u2014 European leaders joined President Volodymyr Zelenskyy in Kyiv on Monday for official celebrations marking Ukraine\u2019s Independence Day as Russia pushes on with its 4-year-old invasion of the country.<\/p>\n
One of President Vladimir Putin\u2019s key goals in starting a war with Russia\u2019s neighbor in February 2022 was to place Kyiv in Moscow\u2019s orbit. Ukrainians voted overwhelmingly for independence in 1991.<\/p>\n
With no significant changes on the front line for months and no apparent progress after more than a year of U.S.-led peace efforts, the warring countries are locked in a spiral of escalating aerial attacks that are killing civilians and smashing infrastructure.<\/p>\n
U.K. Prime Minister Andy Burnham, on his first overseas trip since taking office last month, on Monday joined almost a dozen other European leaders, as well as other dignitaries including European Council President Antonio Costa, in Kyiv.<\/p>\n
\u201cFor Ukraine, independence is not an abstract idea. We defended it against all odds,\u201d Ukrainian Foreign Minister Andrii Sybiha said on social media. \u201cIn times like these, nations learn how important it is to have allies by your side.\u201d<\/p>\n
___<\/p>\n
World shares decline as bond market pressure persists, and Iran’s rial sinks against the dollar<\/p>\n
BANGKOK (AP) \u2014 World shares were mostly lower and oil prices slipped on Monday at the outset of a week capped by an annual meeting of top U.S. economic officials at Jackson Hole, Wyoming. <\/p>\n
Iran\u2019s currency hit a record low as the U.S. prepared to announce new sanctions to try to break the impasse with Iran, adding pressure when its economy is already battered by earlier sanctions and a U.S. naval blockade.<\/p>\n
The rial dropped to 2.02 million to the U.S. dollar on informal currency markets. Iran\u2019s official Central Bank rate stood at around 1.5 million rial to the dollar, but the informal rate is what most Iranians pay.<\/p>\n
In early European trading, Germany’s DAX edged 0.1% lower to 26,110.79, while the CAC 40 in Paris also gave up 0.1%, to 8,474.35. Britain’s FTSE 100 inched up 0.1% to 10,831.33.<\/p>\n
The future for the S&P 500 was down 0.2%, while that for the Dow Jones Industrial Average fell 0.1%. <\/p>\n
___<\/p>\n
Workers in China worry over being replaced as they adapt to the growing impact of AI on jobs<\/p>\n
HONG KONG (AP) \u2014 Computer programmer Fei Zhaojun’s boss asked him if artificial intelligence could soon replace humans in coding jobs. Two weeks later, he was laid off from his job in Beijing, together with about 160 of his colleagues.<\/p>\n
It’s an increasingly common scenario as artificial intelligence, supported by government policies, reshapes China\u2019s massive job market. Some economists believe that might eventually undermine the overall strength of the world’s second largest economy. <\/p>\n
Rapid adoption of AI in many fields, from computer programmers to script writing and physical tasks, is pushing people out of their jobs or leaving them afraid that it might. China is at the vanguard of AI adoption as government policies encourage people and businesses to use AI applications and robotics in all aspects of life, so people like Fei are figuring out how to adapt. <\/p>\n
\u201cThere appears to be far less anti-AI sentiment in China (than elsewhere). Most people seem either positive, neutral, or mildly interested in AI,\u201d said Shujing He, a Beijing-based senior analyst at advisory and research firm Plenum.<\/p>\n
\u201cIndividuals who worry about being replaced, as well as those who have already left traditional workplaces, are often eager to experiment with AI-enabled businesses and independent ventures,\u201d she said. \u201cThe level of interest is striking.\u201d<\/p>\n
___<\/p>\n
3-year college degrees grow more popular in the US, saving time and cash. But critics aren’t sold<\/p>\n
Giles Sims, 34, was sick of getting passed over for jobs because he didn\u2019t have a college degree.<\/p>\n
But with a wife and a widowed mother to help support, he needed a quick solution. So the laid-off web developer turned to one of a growing number of three-year degree programs. <\/p>\n
\u201cI can\u2019t afford to be out of the workforce for four years. That just seems like forever, and the three-year made it seem less daunting,\u201d said Sims, a student at Ensign College, a private Salt Lake City school that recently changed all its bachelor\u2019s degrees to require fewer classes than a traditional four-year degree.<\/p>\n
The condensed programs have exploded in popularity. As of this spring, 26 U.S. states have a college that offers at least one reduced-credit, three-year bachelor’s, according to the nonprofit research group RAND.<\/p>\n
Advocates say these programs are a solution to the college affordability crisis and a godsend for non-traditional students like Sims. <\/p>\n
___<\/p>\n
What to know about Iceland’s vote on whether to restart talks to join the EU<\/p>\n
REYKJAVIK, Iceland (AP) \u2014 When U.S. President Donald Trump said he wanted a \u201cpiece of ice, cold and poorly located,\u201d the people of Iceland had every reason to worry even if he was referring to Greenland.<\/p>\n
Their concern was not only that the object of Trump’s desire was their nearest big neighbor, but that he repeatedly called it Iceland \u2014 four times.<\/p>\n
That gaffe, as Trump continued to press for control of Greenland earlier this year, could help push the fiercely independent Iceland and its 400,000 people closer to Europe as voters decide Saturday whether to restart talks to join the European Union.<\/p>\n
\u201cWe can\u2019t really trust the U.S. anymore,\u201d said Hildur Kn\u00fatsd\u00f3ttir, a horror fiction writer who plans to vote in favor of EU membership. \u201cTrump was not joking about Greenland. There was a lot of fear here in Iceland because if he takes Greenland with force, we\u2019re probably going to be next.\u201d<\/p>\n
Iceland’s decision is whether to continue going it alone successfully and maintain control of precious natural resources like its lucrative and well-managed fisheries, or to strengthen ties with Europe to better insulate the country from geopolitical instability and gain economic benefits such as the more stable euro currency and lower interest rates and inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Iran’s rial currency hits new record low as US prepares to announce more sanctions DUBAI, United Arab Emirates (AP) \u2014 Iran\u2019s currency hit a record low Monday as Washington prepared to announce new sanctions it said would be an \u201ceconomic D-Day\u201d and would add further pressure on an economy already battered by previous sanctions and […]<\/p>\n","protected":false},"author":521,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"87f0fab8-a0b8-41f1-a2ad-67480b0cd7c0","source":"The Associated Press","byline":"","published":"2026-08-23 21:04:23","updated":"2026-08-24 03:04:24","_infotelid":"","_prepressid":"","_multisite_post_sync":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1303,1304],"tags":[],"region":[1280,1301],"class_list":["post-7054","post","type-post","status-publish","format-standard","hentry","category-international","category-world","region-canada","region-world"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":7}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/inwheels\/news\/7054\/ap-news-in-brief-at-604-am-edt-2\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"AP News in Brief at 6:04 a.m. EDT","url":"http:\/\/infonews.ca\/inwheels\/news\/7054\/ap-news-in-brief-at-604-am-edt-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/inwheels\/news\/7054\/ap-news-in-brief-at-604-am-edt-2\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"International","author":[{"@type":"Person","name":"The Associated Press"}],"creator":["The Associated Press"],"publisher":{"@type":"Organization","name":"iNwheels","logo":""},"keywords":[],"dateCreated":"2026-08-24T04:04:23Z","datePublished":"2026-08-24T04:04:23Z","dateModified":"2026-08-24T10:15:11Z"},"rendered":"