Connect with us

Published

on

Russia struck Ukrainian ports on Tuesday, a day after pulling out of a United Nations.-backed deal to let Kyiv export grain, and Moscow claimed gains on the ground in an area where Ukrainian officials said Russian forces were going back on the offensive.

Russia described a wave of missile and drone attacks on Ukraine’s ports as “mass revenge strikes” in retaliation for attacks by Ukrainian seaborne drones that knocked out its road bridge to the occupied Crimean Peninsula.

Shortly after the bridge was hit on Monday, Moscow withdrew from a year-old U.N. brokered grain export deal, a move the United Nations said risked creating hunger around the world.

Falling debris and blast waves damaged several homes and unspecified port infrastructure in Russia’s main port, Odesa, according to Ukraine’s southern operational military command.

Local authorities in Mykolaiv, another port, described a serious fire there. A part of a Russian cruise missile Kalibr is seen inside a building damaged during a Russian missile and drone strikes, amid Russia’s attack on Ukraine, in Odesa, Ukraine July 18, 2023. via REUTERS

The Russian attacks on ports provide “further proof that the country-terrorist wants to endanger the lives of 400 million people in various countries that depend on Ukrainian food exports”, said Andriy Yermak, the head of Ukraine’s presidential staff.

Ukraine’s air force said six Kalibr missiles and 31 out of 36 drones were shot down.

Moscow, for its part, said it had foiled a Ukrainian drone strike on Crimea, with no major damage on the ground, and had reopened a single lane of road traffic on the Crimea bridge. Turkish-flagged bulker TQ Samsun, carrying grain under UN’s Black Sea Grain Initiative, transits Bosphorus in Istanbul, Turkey on July 18, 2023. REUTERS

Six weeks since Ukraine launched a counteroffensive in the east and south, Russia is mounting a ground offensive of its own in the northeast.

Russia’s defense ministry said its forces had advanced 2 km (1.24 miles) in the vicinity of Kupiansk, a frontline railway hub recaptured by Ukraine in an offensive last year. Kyiv acknowledged heavy fighting in the area and said Russia was making a major push there. Reuters could not independently verify the situation.

Since Ukraine began its counteroffensive last month, Kyiv has recaptured some villages in the south and territory around the ruined city of Bakhmut in the east but has yet to attempt a major breakthrough across heavily defended Russian lines. ‘A BLOW TO PEOPLE IN NEED’

The Black Sea grain export deal brokered a year ago by Turkey and the United Nations was one of the only diplomatic successes of the war, lifting a de facto Russian blockade of Ukrainian ports and heading off a global food emergency.

Ukraine and Russia are both among the world’s biggest exporters of grain and other foodstuffs.

If Ukrainian grain is again blocked from the market, prices could soar around the world, hitting the poorest countries hardest.

“Today’s decision by the Russian Federation will strike a blow to people in need everywhere,” U.N. Secretary-General Antonio Guterres said on Monday. A view shows a building damaged during a Russian missile and drone strikes, amid Russia’s attack on Ukraine, in Odesa, Ukraine on July 18, 2023. via REUTERS

Russia says it could return to the grain deal, but only if its demands are met for rules to be eased for its own exports of food and fertilizer.

Western countries call that an attempt to use leverage over food supplies to force a weakening in financial sanctions, which already provide exceptions to allow Russia to sell food.

Ukraine’s President Volodymyr Zelensky has called for the grain deal to continue without Russia’s participation, effectively seeking Turkey’s backing to negate the Russian blockade. Ukraine’s President Volodymyr Zelensky has called for the grain deal to continue without Russia’s participation. AFP via Getty Images

Turkish President Tayyip Erdogan, the deal’s sponsor, says he thinks Moscow can be persuaded to return.

Any attempt to reopen Ukrainian grain shipments without Russia’s participation would probably depend on insurance companies agreeing to provide coverage. Industry sources have told Reuters they are considering the implications.

Kremlin spokesman Dmitry Peskov said attempting to export grain from Ukraine without Russian security guarantees would carry risks, and said Ukraine used the waters for military activities. SLOW COUNTEROFFENSIVE see also Russian soldier ‘lost his grip,’ shot at comrades before being killed, Ukrainian intelligence says

Russia’s claim on Tuesday to have advanced around Kupiansk was a rare signal of Moscow attempting to go back on the offensive since Kyiv launched its counteroffensive last month.

Both sides have endured bitter losses in Europe’s bloodiest combat since World War Two, yet front lines have moved only incrementally since last November, despite a massive Russian winter offensive followed by Ukraine’s counterassault.

“For two days running, the enemy has been actively on the offensive in the Kupiansk sector in Kharkiv region,” Ukraine’s Deputy Defence Minister Hanna Maliar wrote on Telegram.

“We are defending. Heavy fighting is going on and the positions of both sides change dynamically several times a day.”

Oleksander Syrskyi, the commander of Ukraine’s ground forces, described the situation in that area as “complicated but under control.”

Serhiy Cherevatyi, the spokesperson for Ukraine’s eastern grouping of forces, said the Russian military had amassed more than 100,000 troops and more than 900 tanks in the area.

Ukraine’s counteroffensive has made limited gains near Bakhmut and along two major axes in the south, but its assault force equipped with billions of dollars worth of new Western weapons and ammunition has yet to confront the main Russian defensive line.

Kyiv says it is deliberately advancing slowly to avoid high casualties on fortified defensive lines strewn with landmines and is focused for now on degrading Russia’s logistics and command.

Moscow says the Ukrainian counteroffensive has failed.

Continue Reading

Technology

Tesla shares drop 7% in premarket trading after Elon Musk says he is launching a political party

Published

on

By

Tesla shares drop 7% in premarket trading after Elon Musk says he is launching a political party

White House Senior Advisor Elon Musk walks to the White House after landing in Marine One on the South Lawn with U.S. President Donald Trump (not pictured) on March 9, 2025 in Washington, DC.

Samuel Corum | Getty Images News | Getty Images

Tesla shares fell in premarket trade on Monday after CEO Elon Musk announced plans to form a new political party.

The stock was down 7.13% by 4:27 a.m. E.T.

Musk said over the weekend that the party would be called the “America Party” and could focus “on just 2 or 3 Senate seats and 8 to 10 House districts.” He suggested this would be “enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.”

The billionaire’s involvement in politics has been a point of contention for investors. Musk earlier this year was part of the so-called Department of Government Efficiency and worked closely with President Donald Trump — a move seen as potentially hurting Tesla’s brand.

Musk left DOGE in May, which helped Tesla’s stock.

Now tech billionaire’s reinvolvement in the political arena is making investors nervous.

“Very simply Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,” Dan Ives, global head of technology research at Wedbush Securities, said in a note on Sunday.

“While the core Musk supporters will back Musk at every turn no matter what, there is broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track.”

Musk’s previous political foray earned him Trump’s praise in the early days, but he has since drawn the ire of the U.S. president.

The two have clashed over various areas of policy, including Trump’s spending bill which Musk has said would increase America’s debt burden. Musk has taken issue to particular cuts to tax credits and support for solar and wind energy and electric vehicles.

Trump on Sunday called Musk’s move to form a political party “ridiculous,” adding that the Tesla boss had gone “completely off the rails.”

Musk is contending with more than just political turmoil. Tesla reported a 14% year-on-year decline in car deliveries in the second quarter, missing expectations. The company is facing rising competition, especially in its key market, China.

Continue Reading

Environment

Paris’ popular bike share program has a big sticky finger problem

Published

on

By

Paris' popular bike share program has a big sticky finger problem

Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.

According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.

“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.

The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.

Advertisement – scroll for more content

The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.

Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.

And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.

The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.

Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.

That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.

The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.

Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.

The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.

Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.

In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

CNBC Daily Open: Elon Musk, founder of companies and political parties

Published

on

By

CNBC Daily Open: Elon Musk, founder of companies and political parties

U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.

Nathan Howard | Reuters

When they lose a significant other, most men do indeed become a “TRAIN WRECK.” Then they pick up the pieces of their lives and start living again — paying attention to their personal grooming, hitting the gym and discovering new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

And finally…

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China.

Thomas Peter | Reuters

Continue Reading

Trending