European equities have entered what is historically the most challenging stretch of the calendar year, as August and September consistently deliver the weakest returns for the region’s stock markets.
Following a strong first half in 2025 and a slightly positive July, history suggests that the summer momentum in European equities often loses steam as August arrives.
The month is typically defined by thinner trading volumes, greater market sensitivity to economic and geopolitical headlines, and a consistent pattern of higher volatility.
August: The weakest month for European indices
Analysis of the past three decades reveals a clear seasonal downturn in August.
The EURO STOXX 50, Europe’s blue-chip benchmark, has averaged a 1.66% decline during the month over the past 30 years, making it the worst-performing month of the year.
It has ended August in positive territory only 43% of the time, and the broader STOXX Europe 600 tells a similar story.
Over the past 24 years, this index has fallen by an average 0.7% in August, also with a 43% winning ratio. The most brutal August came in 1998, when the EURO STOXX 50 plunged 14.4%, followed closely by 2001’s 13.79% loss.
Country indices echo August’s negative trend
Zooming in on national markets, the pattern of August weakness is equally pronounced.
This period is the weakest month for Germany’s DAX, which posts an average decline of 2.2% and finishes in positive territory just 47% of the time.
In France, the CAC 40 drops by 1.47% on average in August, narrowly ahead of September’s 1.49% average fall, and sees only a 37% winning rate.
Italy’s FTSE MIB and Spain’s IBEX 35 also see the negative sign, logging average August losses of 0.7% and 0.9%, respectively.
German stocks: Some of the weakest August seasonality
A group of Germany’s blue chips consistently show downward August bias, with some of them marking it as their worst month of the year, both in terms of returns and win probability.
According to TradingView data, some of the hardest-hit stocks include:
• Thyssenkrupp AG leads the decline, tumbling an average 4.6% in August with a win rate of just 30%, meaning it has posted gains in only 9 of the past 30 years.
• BMW AG averages a 4.1% loss in August with just a 37% win rate. Volkswagen AG, meanwhile, falls 3.3% and ends the month higher only 27% of the time — proof that even automakers aren’t spared from late-summer volatility.
• Deutsche Bank AG, Germany’s largest lender, averages a 3.47% drop in August and matches Thyssenkrupp’s 30% win ratio.
• Utility giant E.ON SE and industrial titan Siemens AG also feel the seasonal drag, both slipping by nearly 2%, with win rates of 37% and 40%, respectively.
• Deutsche Börse AG, operator of Germany’s stock exchange, and consumer goods firm Beiersdorf AG both see their weakest performance in August, falling 1.72% and 1.66% on average, with win rates of 48% and 39%, respectively.
Bottom line: August’s seasonal slump hard to ignore
With the EURO STOXX 50 and STOXX 600 up 8% and 7%, respectively, European equities have delivered a solid year-to-date performance.
Much of this rebound has come on the back of a strong recovery from April’s tariff-induced downturn, mirroring a broader global equity upswing.
But history warns that August marks a persistent seasonal soft spot — particularly for Germany’s corporate heavyweights, which tend to underperform more than their European peers.
From broad indices to blue-chip stocks, the month shows a consistent pattern of lower returns, thinner liquidity, and heightened vulnerability to negative news flow.
While no seasonal trend guarantees future performance, August remains, by many measures, the most challenging month for European investors.
Stevie Nicks has postponed several upcoming tour dates after fracturing her shoulder.
“Due to a recent injury resulting in a fractured shoulder that will require recovery time, Stevie Nicks’ scheduled concerts in August and September will be rescheduled,” the Fleetwood Mac singer announced over the weekend.
The affected shows include all her August and September shows, which include Detroit, Brooklyn and Florida dates. Those dates have been rescheduled for later in the fall and winter.
Nicks’ shows scheduled for October are still on as planned, including Portland, Sacramento and Las Vegas.
“Stevie looks forward to seeing everyone soon and apologizes to the fans for this inconvenience,” the statement continued.
Nicks recently delighted Fleetwood Mac fans by reaching enough of a detente with her on-and-off bandmate Lindsey Buckingham to reissue their beloved 1973 collaborative LP “Buckingham Nicks,” their only album together before joining Fleetwood Mac. That LP is out Sept. 19.
WASHINGTON — Lawmakers have left Washington for the annual August recess, but a few weeks of relative quiet on the U.S. Capitol grounds can’t mask the partisan tensions that are brewing on government funding and President Trump’s nominees. It could make for a momentous September.
Here’s a look at what’s ahead when lawmakers return after the Labor Day holiday.
A bitter spending battle ahead
Lawmakers will use much of September to work on spending bills for the coming budget year, which begins Oct. 1. They likely will need to pass a short-term spending measure to keep the government funded for a few weeks while they work on a longer-term measure that covers the full year.
It’s not unusual for leaders from both parties to blame the other party for a potential shutdown, but the rhetoric began extra early this year, signaling the threat of a stoppage is more serious than usual.
On Monday, Senate Democratic leader Charles E. Schumer and House Democratic leader Hakeem Jeffries sent their Republican counterparts a sharply-worded letter calling for a meeting to discuss “the government funding deadline and the health care crisis you have visited upon the American people.”
They said it will take bipartisanship to avert a “painful, unnecessary shutdown.”
“Yet it is clear that the Trump Administration and many in your party are preparing to go it alone and continue to legislate on a solely Republican basis,” said the letter sent to Senate Majority Leader John Thune and House Speaker Mike Johnson.
Republicans have taken note of the warnings and are portraying the Democrats as itching for a shutdown they hope to blame on the GOP.
“It was disturbing to hear the Democrat leader threaten to shut down the government in his July 8 Dear Colleague letter,” Thune said on Saturday. “… I really hope that Democrats will not embrace that position but will continue to work with Republicans to fund the government.”
Different approaches from the House and Senate
So far, the House has approved two of the 12 annual spending bills, mostly along party lines. The Senate has passed three on a strongly bipartisan basis. The House is pursuing steep, non-defense spending cuts. The Senate is rejecting many of those cuts. One side will have to give. And any final bill will need some Democratic support to generate the 60 votes necessary to get a spending measure to the finish line.
Some Democratic senators are also wanting assurances from Republicans that there won’t be more efforts in the coming weeks to claw back or cancel funding already approved by Congress.
“If Republicans want to make a deal, then let’s make a deal, but only if Republicans include an agreement they won’t take back that deal a few weeks later,” said Sen. Elizabeth Warren, D-Mass.
Rep. Chuck Fleischmann, R-Tenn., a veteran member of the House Appropriations committee, said the Democratic minority in both chambers has suffered so many legislative losses this year, “that they are stuck between a rock and their voting base.” Democrats may want to demonstrate more resistance to Trump, but they would rue a shutdown, he warned.
“The reality would be, if the government were shut down, the administration, Donald Trump, would have the ability to decide where to spend and not spend,” Fleischmann said. “Schumer knows that, Jeffries knows that. We know that. I think it would be much more productive if we start talking about a short-term (continuing resolution.)”
Republicans angry about pace of nominations
Republicans are considering changes to Senate rules to get more of Trump’s nominees confirmed.
Thune said last week that during the same point in Joe Biden’s presidency, 49 of his 121 civilian nominees had been confirmed on an expedited basis through a voice vote or a unanimous consent request. Trump has had none of his civilian nominees confirmed on an expedited basis. Democrats have insisted on roll call votes for all of them, a lengthy process than can take days.
“I think they’re desperately in need of change,” Thune said of Senate rules for considering nominees. “I think that the last six months have demonstrated that this process, nominations, is broken. And so I expect there will be some good robust conversations about that.”
Schumer said a rules change would be a “huge mistake,” especially as Senate Republicans will need Democratic votes to pass spending bills and other legislation moving forward.
The Senate held a rare weekend session as Republicans worked to get more of Trump’s nominees confirmed. Negotiations focused on advancing dozens of additional Trump nominees in exchange for some concessions on releasing some already approved spending.
At times, lawmakers spoke of progress on a potential deal. But it was clear that there would be no agreement when Trump attacked Schumer on social media Saturday evening and told Republicans to pack it up and go home.
“Tell Schumer, who is under tremendous political pressure from within his own party, the Radical Left Lunatics, to GO TO HELL!” Trump posted on Truth Social.
Freking writes for the Associated Press. AP writers Mary Clare Jalonick and Joey Cappelletti contributed to this report.
The Driver and Vehicle Licensing Agency (DVLA) has reminded motorists that they might need a specific document while travelling abroad in a car this summer
Amy Jones Lifestyle & Features Writer and Luke Chillingsworth
17:08, 04 Aug 2025
DVLA has issued a warning during the summer holidays(Image: Getty Images)
The DVLA has issued a warning for drivers planning to travel this August, with a crucial heads-up about International Driving Permits (IDP).
Motorists looking to take the wheel while abroad are being reminded that they might need an IDP, which is a document that translates domestic driving licences for use overseas. While many EU countries don’t demand an IDP post-Brexit, there are a host of holiday hotspots where the rules still apply.
An International Driving Permit (IDP) costs just £5.50(Image: Getty)
In a recent social media update, the DVLA advised: “If you’re hiring a car abroad, you should check with your car hire company if you need an International Driving Permit (IDP) before travelling.”
According to the GOV.UK, whether you’ll need an IDP depends on your destination and the duration of your stay, reports the Express. Authorities have clarified that UK licence holders don’t need an IDP for most EU nations, as well as Switzerland, Norway, Iceland, or Liechtenstein.
However, depending on their destination, drivers may need one of three types of IDP: 1926, 1949, or 1968. The 1968 IDP is particularly common and might be necessary for countries including Austria, Belgium, the Czech Republic and Denmark.
The United States might soon insist that drivers have a 1968 IDP to take the wheel. The GOV.UK has issued guidance stating: “You should check if the individual state authority says you need an IDP. If you’re hiring a car, you should check if the car hire company says you need an IDP.”
They further advise: “You may need both your driving licence and an IDP to hire a car in the US. If you have a paper UK driving licence, you must take another form of photographic ID, such as your passport. You may need to show an IDP to your insurance company if you’re involved in an accident.”
For just £5.50, motorists can get their hands on an IDP at various PayPoint locations. Once obtained, this essential document remains valid for one to three years, potentially covering multiple trips abroad.
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Contrary to some recent media chatter, the novel isn’t dead: A glance at this month’s choices, which include quirky robot sci-fi, an artist’s tale set in 1950s Mexico and a dysfunctional family’s reckoning with addiction, proves that imaginative storytelling has a strong heartbeat. Meanwhile, whether you’re looking for history or current events, check out an oral history of the atomic bomb, an expert’s thoughts on climate change and a thorough tribute to the writer James Baldwin. Happy reading!
Late 21st-century San Francisco: California has seceded from the United States, and robots serve humans like crypto money launderer Fritz Co, whose Burgers N More is a front. He absconds and leaves four robots adrift, but with aid from unhoused human “robles,” they reconfigure the joint as a ramen shop — until robophobes launch a campaign to shut them down. Robots Staybehind, Sweetie, Cayenne and Hands will capture readers’ hearts.
Soot, one of the protagonists of Mott’s funny and affecting new book, also appeared in 2021’s “Hell of a Book.” Like the (at first) unnamed narrator, Soot is now a middle-aged writer from North Carolina (Mott originally intended this story to be in memoir form), and both men’s paths illustrate the difficulty of reconciling being Black with being American. While the theme of gun violence plays an important role, Mott is ultimately concerned with how and where his characters find safety.
Fonseca: A Novel By Jessica Francis Kane Penguin Press: 272 pages, $28 (Aug. 12)
In this fictionalized version of British novelist Penelope Fitzgerald’s real-life trip to Saltillo, Mexico, in 1952, she arrives pregnant with her son Valpy in tow, hoping eccentric, elderly sisters might keep their promise to leave Valpy their silver mine. “Fonseca” (“dry well” in Latin) is how Fitzgerald always referred to Saltillo, but Kane’s remarkable excavation of this interlude, including real letters from Valpy, drips with juicy conflict and detail.
Three sisters make up the band name “Jojo and the Twins” — but Jojo, younger sister to identical twins Emma and Araminta (Ara), isn’t in the band. Instead, she’s the caretaker for her siblings, who made a fortune with their blockbuster hit “American Mosh,” then lost that fortune, in part due to Ara’s substance addictions. Chapters alternate between Jojo, Emma, Ara and their absentee mother Bertie, who all discover that big love has big costs.
Katabasis: A Novel By R. F. Kuang Harper Voyager: 560 pages, $32 (Aug. 26)
Alice Law and Peter Murdoch, Cambridge University doctoral fellows in Magick, wind up in Hell looking for their adviser in a dark academia thriller whose title is the Greek word for “downward journey.” This version of Hell closely resembles Dante’s “Inferno,” with many circles leading toward the very worst human actions. There’s a great deal of doubling back and a lot of incantatory action, both of which sci-fi/fantasy stans will appreciate.
Many accounts of the unusual and unholy circumstances that led to the atomic bombs dropped on Japan at the end of World War II center on scientific discovery, neglecting the enormous human and environmental toll involved. Not so with journalist Graff’s (“When the Sea Came Alive”) approach, in which everyone from theoreticians to site managers on to survivors of all ages share first-person stories of what they did, saw and understood.
Since her 1985 debut novel, “Annie John,” the Antiguan-born Kincaid has been impossible to ignore, and this collection of essays and journalism shows why: Even as some critics have found her prose too personal or political, Kincaid knows she meant it to be so. Ranging from her famed “Biography of a Dress” to pieces for the New Yorker on to essays on gardening, the works speak of a person who has refused to be defined by any kind of constraints.
The Great American Road Trip, that idealized trek heading west, might be different now, according to author Pocock, who first made that journey in 2006 from Detroit to Los Angeles in the wake of grief after several miscarriages. In 2023, retracing her steps via Greyhound bus like French writer Simone de Beauvoir (“America Day by Day,” 1948), she discovers fewer humans, more dirt and less safety — but the same magical “sense of no longer existing.”
Baldwin: A Love Story By Nicholas Boggs Farrar, Straus and Giroux: 720 pages, $36 (Aug. 19)
James Baldwin’s four great affairs (intellectual, romantic, platonic and artistic) provide a beautiful structure for this biography, which includes careful research into the writer/activist’s upbringing and political formation as well as his widespread influence. Beauford Delaney’s creative guidance, Lucien Happersberger’s intimacy, Engin Cezzar’s call to activism and French painter Yoran Cazac’s artistic collaboration — each forms a polished facet of Baldwin’s gem-like dazzle.
Since McKibben’s 1989 “The End of Nature,” the world’s temperature has risen by at least 1 degree Fahrenheit. Now the author and environmental activist wants to wake everyone up to the fact that we can’t stop global warming, but we can stave off reaching the next degrees if we enact the kind of political change necessary to use new technologies (like photovoltaic devices) that, instead of draining our planet’s resources, harness those beaming down daily.
OUR much-loved astrologer Meg sadly died in 2023 but her column will be kept alive by her friend and protégée Maggie Innes.
Read on to see what’s written in the stars for you today.
♈ ARIES
March 21 to April 20
All the ways a family may frustrate you are in your star spotlight, as you have extra patience now to make changes.
Breaking a pattern is easier when you recognise your own part in it.
As for romance, you may need reassurance more than you think, and there is strength is letting this show at any stage of love.
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Your daily horoscope for Monday
♉ TAURUS
April 21 to May 21
You usually stop dreams in their tracks and prefer to stick to the realistic side of life – but today there is such scope for fantasy in your chart.
Letting yourself visualise the work, or love, future you truly want can unlock something inside, and start a process of success.
The luck factor pauses on a group picture.
Get all the latest Taurus horoscope news including your weekly and monthly predictions
♊ GEMINI
May 22 to June 21
Cash changes you seek to make may feel out of control – but a little chaos can be a good thing in the long run.
You need to test what won’t work before you find what will.
So do give yourself a little leeway.
If you’re in love, two-way trust is important, so do play your part.
Single? A tender Cancer has so much to give.
Get all the latest Gemini horoscope news including your weekly and monthly predictions
♋ CANCER
June 22 to July 22
Mercury’s chart path brings you challenges around who and what you value, but you start to see that your own ideas matter just as much as – and maybe more than – other people’s.
So you can start to take the wrong names off the right list.
At work, instead of imagining what others are thinking, try asking them upfront.
Get all the latest Cancer horoscope news including your weekly and monthly predictions
♌ LEO
July 23 to August 23
You know you’ve been holding something back in a relationship – perhaps to protect yourself.
But without your whole heart involved, that future you desire may stay out of reach.
There are choices to make today – but they can be positive ones.
A money decision can’t wait any longer – so address this, too.
Get all the latest Leo horoscope news including your weekly and monthly predictions
♍ VIRGO
August 24 to September 22
Showing the kind of friendship you would like to receive can be testing at times, but a breakthrough is coming.
So try to keep doing what your heart tells you is right, regardless of your head’s view.
Trusting yourself, first, is what can allow you to trust others more fully – if you know this needs work, start today.
Get all the latest Virgo horoscope news including your weekly and monthly predictions
For love, an unconventional approach may be the best way to pin down promisesCredit: Getty
♎ LIBRA
September 23 to October 23
The top of your chart is overflowing with love – and you can afford to be generous to someone younger, or less experienced.
But set limits on this, especially in terms of your time.
You have a moon of special conversation insight – so you can read between the lines of any message or chat, and find some surprising truths.
Get all the latest Libra horoscope news including your weekly and monthly predictions
List of 12 star signs
The traditional dates used by Mystic Meg for each sign are below.
♏ SCORPIO
October 24 to November 22
Your instincts about people are usually spot on – but there’s a chance today of being sidetracked by sudden, unexpected attention.
Yes, you can enjoy the moment but still stay in control – if you remember what truly matters.
A friend who has recently changed a home or work address can be a three-times luck link.
THE draw for tonight’s National Lottery EuroMillions (August 1, 2025) has taken place, with life-changing cash prizes at stake.
Check the results to see if you have just won a fortune and bagged enough to start that jet-set lifestyle you always dreamed of.
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Have you got the winning EuroMillions ticket?
Every EuroMillions ticket also bags you an automatic entry into the UK Millionaire Maker, which guarantees at least one player will pocket £1million in every draw.
You can find out if you’re a winner by checking your ticket against tonight’s numbers below.
Tonight’s National Lottery EuroMillions winning numbers are: 04, 16, 25, 29, 30 and the Lucky Stars are: 02, 10.
The UK Millionaire Maker Selection winner is: TGLL13138.
Tonight’s National Lottery Thunderball winning numbers are: 02, 09, 20, 23, 27 and the Thunderball is 13.
TOP 5 BIGGEST LOTTERY WINS IN THE WORLD
£1.308 billion (Powerball) on January 13 2016 in the US, for which three winning tickets were sold, remains history’s biggest lottery prize
£1.267 billion (Mega Million) a winner from South Carolina took their time to come forward to claim their prize in March 2019 not long before the April deadline
£633.76 million (Powerball draw) from a winner from Wisconsin
£625.76 million (Powerball) Mavis L. Wanczyk of Chicopee, Massachusetts claimed the jackpot in August 2017
£575.53 million (Powerball) A lucky pair of winners scooped the jackpot in Iowa and New York in October 2018
The first EuroMillions draw took place on February 7, 2004, by three organisations: France’s Française des Jeux, Loterías y Apuestas del Estado in Spain and the Camelot in the UK.
One of the UK’s biggest prizes was up for grabs on December, 4, 2020 with a whopping £175million EuroMillions jackpot, which would make a winner richer than Adele.
Colin and Chris Weir, from Largs in Scotland, netted a huge £161,653,000 in the July 12, 2011.
Adrian and Gillian Bayford, from Haverhill, Suffolk, picked up £148,656,000 after they played the draw on August, 10, 2012, while Jane Park became Britain’s youngest lottery winner when she scooped up £1 million in 2013.
Could tonight’s jackpot of £145 million see you handing in your notice and swapping the daily commute for slurping champagne on a super yacht or lying back on a private beach in the Bahamas?
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EuroMillions tickets come with an automatic entry into the UK Million Maker too
After a rocky start to summer, L.A.’s food scene is finding its footing.
Downtown restaurants are bouncing back after suffering significant loss of business due to temporary curfews put in place following protests against ICE raids. After announcing its permanent closure, Cole’s French Dip — L.A.’s oldest saloon and restaurant, which opened in 1908 — experienced a swell of support and extended its run until mid-September. In Little Tokyo, a cafe themed after a popular anime series is bringing renewed interest to the neighborhood.
And if you’re looking for additional dining ideas this month, bookmark this list with new openings and long-standing restaurants that need support, including a destination for inventive chicken tenders from a Michelin-star chef, a Hawaiian poke shop in Echo Park and a Filipino breakfast pop-up from a Chinatown rotisserie and wine bar.
THIS August, prepare for a cosmic reset and a surge of personal growth!
From Aries stepping into power and clarity to Taurus locking in love, each sign is poised for significant shifts…
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Kerry King has 30 years of fortune telling experience
Aries
Cross the threshold, Aries – august opens a portal to power, clarity and cosmic rewards.
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Self awareness reveals natural leadership power
Love & Relationships – The Emperor
Power dynamics are important, they shape our interactions and sense of identity.
The Emperor suggests you’re struggling with a power dynamic in your inner circle, someone has an upper hand and is wielding it wrongly.
It’s time to correct this by changing the mood, activity, and frequency of contact.
This person is likely to be very similar to you, almost a cosmic twin.
Re-set the energy by behaving differently this August.
This will work. Be consistent.
Work & Purpose – The Sun
You are entering your most powerful and successful era!
The Sun is a bringer of success, prosperity, joy, and ambition, almost inviting you to enter a realm of reward by making a confident step through a portal.
You need to apply, pitch, ask, challenge, or create something- almost like a sacrifice or ritual.
If you do it boldly, led by hope not fear, you will be met with great success.
International opportunities are also possible.
Omen to look out for – Nine of Cups
Look for the number 9 or repeats of it.
Look for symbols of wish making and dream fulfilment i.e. stars, magic lamps, genies, fairies etc.
Look out for a situation where you need a dash of luck to succeed.
If you notice one of these omens then you’re in the right place at the right time to get what you most want.
Take a step right THERE AND THEN.
About Kerry King
Kerry King, the tarot queen, uses tarot and star sign wisdom to create inspiring forecasts and insights, with nearly 30 years fortune telling experience, and many happy clients all over the world.
Join Kerry’s secret tarot club for exclusive forecasts, predictions, lessons, readings and 1-1 access to Kerry.
Love locks in, but big decisions linger – Taurus, August is all about knowing what (and who) you want.
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You can win whatever game you choose to play this July
Love & Relationships – Ten of Coins
All Taureans crave stability, certainty, and control- it’s hardwired into their nature.
The Ten of Coins delivers these much-sought things into your love life this August via proposals, commitments, declarations, intimate connections, legal agreements, and shared goals.
If you’re single, then a solid, loving fellow Earth sign (Taurus, Virgo, Capricorn) could enter your realm and become your ‘everything’.
A happy ever after in love awaits.
Work & Purpose – The Lovers
You feel a bit confused about your direction this August- maybe a head vs heart schism about your path or next step.
Take your time, don’t be pressured into a snap judgement.
Do the mental gymnastics and research to understand your situation, options, and potential fully, and wait until you feel clear and calm about a certain option.
And then, and only then, take decisive action.
Omen to look out for – Queen of Wands
Look out for women who inspire, excite, or wildly entertain you.
Listen to them carefully.
Look out for Fire sign folk (Aries, Leo, Sagittarius) who invite you someplace.
Look out for course, books, shows or podcasts about leadership.
If you notice one of these omens then you’re being advice, opportunity or insight that will help you to rise, take ownership, and fulfil a leadership role you’re destined for.
Gemini
Step back, learn more, and let the universe show its hand – Gemini, this month is a masterclass.
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You are rising, this is your time
Love & Relationships – Three of Wands
Step back from the pressure or expectation that it’s YOU who has to do all of the organising, fun-creation, and effort.
Let things swing as they would without your 24/7 influence, and see what’s really there.
Sometimes you do too much for others, and it’s taken for granted.
The Three of Wands shows that August will bring plenty of openings for folk to show you their true feelings and intentions towards you.
Work & Purpose – Page of Pentacles
Education is your BFF.
All Geminis love learning and studying- you never really left that school mentality.
The Page of Coins wants you back in the classroom, potentially for career (re)training, or even personal development.
Whether it’s formal or informal will depend on your circumstance and opportunity, but however you do it, seek education and stimulate your mind with new knowledge and skill.
What you learn could take you places!
Omen to look out for – The High Priestess
Look for the number 2 or repeats of it.
Look for couples who catch your eye, and ask yourself why.
Look out for psychic experiences or interludes, uncanny or strange occurrences, and notice where you were / what you were doing.
If you notice one of these omens then you’re receiving instruction from a higher being about what is important for you in relationships vs what you need to do / own / work on solo.
Cancer
See the truth, honour your intuition, and glow up – Cancer, August is a mirror and a map.
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Coincidence, creativity, and collaboration
Love & Relationships – Seven of Cups
Avoid the temptation to retreat into your Cancerian exoskeleton shell and spend more time thinking, vs doing anything, about your love life and key relationships.
You can project, assume, overthink. It doesn’t do any good. Instead, verify, discuss, ask, challenge, check.
Get clarity on where you stand and take steps from that point (not what you imagine to be the case).
Work & Purpose – Three of Wands
Luck, karma and fate are conspiring to bring you new news and ideas this August, so let them do their thing and don’t get in the way!
Tune into your intuition and gut instinct (which is very powerful for you).
Notice random events or acts, coincidence, omens and signs. Pay attention to your dreams.
Decipher messages and nudges and signposting from the psychic intel you receive!
Use it and new doors will open!
Omen to look out for – Judgement
Look out the number 20 or repeats of it (maybe in year format i.e. 2025).
Look out for mirrors, reflective surfaces that show you clearly or in a flattering light.
Look out for descriptions of you, your star sign maybe, or personality type that really resonate.
If you notice one of these omens then you are being told to update and upgrade your self image.
You are more powerful, beautiful, smart, and talented than you currently think.
Get up to speed on your magnificence!
Leo
Step into your power, Leo – this month, your creativity and confidence light the way to exciting new beginnings.
13
You feel empowered to make those big decisions
Love & Relationships – Two of Wands
You are always popular and in demand, both in friendships, family circles, and romance.
It’s time for you to know and act on the relationship priorities that you most value and wish to serve or build.
Know your inner circle, your key folk, and treat them as such.
Don’t get distracted or taken offline by new projects or faces.
Show loyalty and commitment and it will be returned tenfold, because you ARE loved.
Work & Purpose – Knight of Coins
August, despite being holiday season, might feel like hard work for you but the rewards will all be worthwhile so keep your nose to the grindstone… and then celebrate when the job is done, you’ll feel all the better for it.
Be determined and diligent in your efforts, whether this is related to career tasks, education or personal projects.
It will be demanding, but it will also be rewarding, and that’s a happy balance.
Omen to look out for – King of Cups
Look for dreams about love and romance, and notice WHO you’re dreaming about and how you feel.
Look for instant sparks and attractions with strangers.
Look out for chance encounters with someone you’re immediately fascinated by.
If you notice one of these omens you could be meeting or about to (re)connect with your future soul mate!
If you’re single (even if you’re not…) this could be IT!
Virgo
Justice, closure, and a second chance you didn’t see coming – Virgo, it’s time to reset.
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Green lights all round to go for your dreams!
Love & Relationships – Justice
Play fair, be nice, stay on the straight and narrow, but don’t sacrifice yourself or your desires and needs to keep the peace either.
Balance is what is needed.
Maybe you’ve been ridden over too many times, maybe you’ve crossed lines you shouldn’t have.
Be honest and admit where there have been injustices in your close relationships recently.
What can you learn here? What could you change?
If you’re single, a beautiful Libran soul will enter your realm and perfectly suite in with your lifestyle.
Work & Purpose – Four of Cups
I think you feel a little complacent, maybe even bored or tired of your role or projects.
This happens.
We get a bit burnt out, we hit a wall, we need a change.
Use August as a refresher month.
See things with new eyes, get a fresh take on stuff, take a break and return with clear vision and a rested mindset.
If you can get away and take a complete break, then do.
You are renewing and restoring your energies.
Omen to look out for – Eight of Cups
Look for the number 8, or repeats of it.
Look for second chances, repeats, reruns, reinventions of old ideas in new guises.
Look out for memories or echoes of situations where you missed out on something but, maybe just maybe, it was for the best in hindsight.
If you notice any of these omens then you’re being given a chance.
Libra
Solitude, strategy, and a smart plan forward – Libra, this is your long game era.
13
You have everything you need; now make it work for you
Love & Relationships – The Hemit
Solitude is a great healer and restorer. A little absence makes the heart grow fonder.
Giving someone the gift of missing you is often enough to reset the dynamic and return that loving feeling.
Don’t be scared to withdraw and get some peace and quiet, don’t be nervous of creating a boundary.
The Hermit hints you need space.
You need solitude so you can think (and so can they…).
Work & Purpose – King of Swords
It’s a good month to make a 10 (or 5) year plan!
What’s the goal, the key objective? What’s the strategy to achieve it? What are the tactics and timescale?
The King of Swords brings precise thought, clarity, inspiration, and innovation to your realm, helping you future proof and create shrewd plans of attack to get where you want to be- wherever that is!
This is a planning and research month.
Omen to look out for – Five of wands
Look for the number 5 or repeats of it.
Look for the feeling of frustration and resentment, sit with it, and notice who or what it sticks to.
Look out for situations where you feel stuck / overwhelmed / done to / stagnated.
If you see any of these signs, then you’re being shown first things first, the places you’ve outgrown and can immediately withdraw from.
Act on this insight.
Scorpio
Challenge accepted – Scorpio, this month you win, lead, and love on your own terms.
13
A breakthrough is coming
Love & Relationships – Seven of Wands
There is competitive energy in your relationship realm, but that’s not necessarily a bad thing.
Sometimes it serves to be tested or tempted or offered a challenge which helps you rise to the occasion!
Look out for people who inspire new ideas or energy in your love life or friendships.
Look out for sparky Fire signs (Aries, Leo, Sagittarius) who motivate you to BE different.
Maybe this August’s love life move is to set your own goal or target and MAKE it happen!
Work & Purpose – Ten of Coins
If I said it would ALL be alright in the end and you’re destined for riches no matter what, then what power move would you confidently make?
Perhaps THAT is the step you’re destined to take this August.
The Ten of Coins promises a career and wealth happy ever after, as long as you stick to the plan and deliver consistently against it.
Be measured, well paced, and keep showing up, and people will believe in you, invest in you, and help you get where you want to go.
Respect is earned over time.
Omen to look out for – Ten of Wands
Look for the number 10 or combinations of it.
Look out for thins which have deflated, wilted, melted, or withered.
Notice places which look invitingly relaxing and comforting. Notice safe sanctuaries and rest zones.
If you notice one of these omens then you’re being invited to activate a phase of deep rest and hibernation- maybe for a hour, maybe for a weekend- you decide.
Rest is restorative right now.
Sagittarius
This is your month, Sagittarius – new people, powerful insights, and journey.
13
Assertiveness is what’s needed
Love & Relationships – Ace of Wands
It’s all new on the relationship front! New friends, admirers, family members, colleague, allies, and acquaintances.
These folk are being drawn into your life for a reason: to help you initiate new projects, roles, and growth.
It’s a time to travel with friends, plan a major life change with a loved one, embark on a new hobby in a group setting.
Look out for inspiring and charismatic Fire sign folk (Aries, Leo, Sagittarius) that you feel an immediate attraction towards.
Work & Purpose – Judgement
Judgement brings a deep and lasting sense of clarity to your realm.
You feel like you really understand your unique blend of experience, talent, skill, interest, and proven ability.
You know the niche for you!
When this is so blindingly clear, it’s so much easier to embrace that identity wholly, and to feel every inch of yourself authentically.
And this identity fit leads you to new opportunities because you’re vibrating NEXT LEVEL, attracting the opportunities meant ONLY for you.
A powerful August.
Omen to look out for – The Chariot
Look out for the number 7, or repeats of it.
Look out for unusual, outlandish, antique, or eye-catching vehicles.
Look out for trips, holidays, outings, excursions, and events that feel aligned to your emerging sense of identity and purpose.
If you notice one of these omens then you’re given a golden opportunity to travel or visit someplace that will UNLOCK vast new areas of potential for you.
Capricorn
Solo focus, big joy, and a lucky break – Capricorn, August helps you get ahead.
13
Discover your path to success
Love & Relationships – Queen of Swords
The Queen of Swords is all about solo and independent power and fortitude.
Sometimes you just so better flying solo, right?
Sometimes your own company is the best fuel and energy to help you get done what needs doing!
That’s not to say you shut off from family, love or friendship, but you MUST make time for your own projects and goals, by yourself, this August.
Your relationships will benefit from you being the best version of you!
Work & Purpose – Three of Cups
Wouldn’t it be great if work felt like play?
That’s kind of the ultimate goal, because then time becomes precious.
Time crawls when you have a job whereas it flies when you have a vocation.
Is it time to find that vocation for yourself?
The Three of Cups simply asks you to focus on, as much asp possible, what you love and enjoy doing in work or education.
Amplify the interests.
Excel in the areas you’re already talented and proficient.
Build on success and joy, and create an awesome career.
Omen to look out for – Three of Wands
Look for the number 3, or repeats of it.
Look for coincidence and de ja vu.
Look out for invitations that come from weird or totally unexpected sources.
If you notice one of these omens then you’re being gifted a golden opportunity to do something new that will lead to a new upwards trajectory in career, education, or both.
It’s time to get lucky and get ahead.
Aquarius
Truth, talent, and total alignment – Aquarius, it’s time to create something real.
13
New outlook = new opportunity
Love & Relationships – Seven of Cups
Overthinking rarely leads you anywhere good, useful, or worthwhile, in fact it often leads you in circles.
Your sign is famed for purity and honesty, so just get clarity on whatever feels murky.
Ask questions. Seek truth.
Understand the situation vs assuming or projecting.
Look out for creative Water signs (Pisces, Cancer, Scorpio) this August, a true alliance could be forged.
Work & Purpose – The Magician
The Magician is a wonderful card evoking entrepreneurship, creativity, invention and innovation.
You are going to create something magnificent that plays to a strength or talent and it’s going to activate a new chapter of success and growth.
This is also a manifesting card so you’re being given ideas and good fortune to help your ambitions and dreams come true.
This August is a game changer. Go create!
Omen to look out for – Three of Swords
Look out for the number 3 or repeats of it.
Look out for gut feelings of disquiet or distrust about someone or something.
Look out for people whose actions do not align with their words or promises.
If you notice one of these omens then you being shown a situation that is not what it seems and carries negative potential. Remove yourself.
Act on your hunch. Protect your interests.
Pisces
Grow stronger, think bigger, and expand your realm – Pisces, August brings new purpose.
13
Wonderful relationships unlock new opportunities
Love & Relationships – Page of Coins
There’s a real earnestness and desire to do better emerging in your relationship realm, on all levels, with family, friends and in love.
If we all tried a bit harder and repaired past damage and did better in future, how amazing could our alliances and support network become?
What if we all took that vow together?
Pisces, make this happen in your world. It could create the strongest relationship network EVER, with you in the middle of it, beautifully supported and loved.
Work & Purpose – Eight of Swords
Stop worrying about what others might think or say.
That is their business, not your business.
And your assumptions and projections really reveal more about your own insecurity or fear than the truth or reality of things.
So, stop, press pause on that kind of thinking.
Refocus on what you know, on what is happening, on the events and outcomes you’re managing.
And craft steps and actions that serve those realities directly, clearly, and positively.
A bit of focus will change everything.
Omen to look out for – The World
Look out for the number 21 or repeats of it.
Look out for trips, outings, vacation ideas, and journey inspirations that speak directly to a passion or goal in your realm.
Look out for stories, shows, and podcasts about something overseas that fascinates you.
If you notice one of these omens then you’re being asked to broaden your horizons, consider going someplace to do something stretching, or even moving location!
As United States President Donald Trump blasts his way through tariff announcements, one thing is clear, experts say: Some level of duties is here to stay.
In the past few weeks, Trump has announced a string of deals – with the European Union, Japan, Indonesia, Vietnam and the Philippines – with tariffs ranging from 15 percent to 20 percent.
He has also threatened Brazil with a 50 percent tariff, unveiled duties of 30 percent and 35 percent for major trading partners Mexico and Canada, and indicated that deals with China and India are close.
How many of Trump’s tariff rates will shake out is anybody’s guess, but one thing is clear, according to Vina Nadjibulla, vice president of research and strategy at the Asia Pacific Foundation of Canada: “No one is getting zero tariffs. There’s no going back.”
Trump’s various announcements have spelled months of chaos for industry, leaving businesses in limbo and forcing them to pause investment and hiring decisions.
The World Bank has slashed its growth forecasts for nearly 70 percent of economies – including the US, China and Europe, and six emerging market regions – and cut its global growth estimate to 2.3 percent, down from 2.7 percent in January.
Oxford Economics has forecast a shallow recession in capital spending in the Group of Seven (G7) countries – Canada, France, Germany, Italy, Japan, the United Kingdom and the US – lasting from the second quarter to the third quarter of this year.
“What we’re seeing is the Donald Trump business style: There’s lots of commotion, lots of claim, lots of activity and lots of b*******,” Robert Rogowsky, professor of international trade at the Middlebury Institute of International Studies, told Al Jazeera.
“That’s his business model, and that’s how he operates. That’s why he’s driven so many of his businesses into bankruptcy. It’s not strategic or tactical. It’s instinctive.”
Rogowsky said he expects Trump to push back his tariff deadline again, after delaying it from April to July, and then to August 1.
“It’s going to be a series of TACO tariffs,” Rogowsky said, referring to the acronym for “Trump Always Chickens Out”, a phrase coined by Financial Times columnist Robert Armstrong in early May to describe the US president’s backpedalling on tariffs in the face of stock market turmoil.
“He will bump them again,” Rogowsky said. “He’s just exerting the image of power.”
Trump’s back-and-forth policy moves have characterised his dealings with some of the US’s biggest trade partners, including China and the EU.
China’s tariff rate has gone from 20 percent to 54 percent, to 104 percent, to 145 percent, and then 30 percent, while the deadline for implementation has shifted repeatedly.
The proposed tariff rates for the EU have followed a similar pattern, going from 20 percent to 50 percent to 30 percent, and then 15 percent following the latest trade deal.
The EU’s current tariff rate only applies to 70 percent of goods, with a zero rate applying to a limited range of exports, including semiconductor equipment and some chemicals.
European steel exports will continue to be taxed at 50 percent, and Trump has indicated that new tariffs could be on the way for pharmaceutical products.
Despite the trade deals, many details of how Trump’s tariffs will work in practice remain unclear.
Whether Trump announces more changes down the track, analysts agree that the world has entered a new phase in which countries are seeking to become less reliant on the US.
“Now that the initial shock and anger [at Trump policies] has subsided, there is a quiet determination to build resilience and become less reliant on the US,” Nadjibulla said, adding that Trump was pushing countries to address longstanding issues that had been untouchable before.
Canada, for instance, is tackling inter-provincial trade barriers, a politically sensitive issue historically, even as it looks elsewhere to increase exports, said Tony Stillo, director of Canada Economics at Oxford Economics.
“It would be foolhardy not to provide to the US, seeing as it’s our largest market, but it also makes us more resilient to provide to other markets as well,” Stillo told Al Jazeera.
Canadian Prime Minister Mark Carney has reached out to the EU and Mexico and indicated his wish to improve his country’s strained relations with China and India.
This month, Canada expanded its exports of liquified natural gas beyond the US market, with its first shipment of cargoes to Asia.
To mitigate the fallout of Trump’s tariffs, Ottawa has been offering relief to Canadian businesses, including automakers, and has instituted a six-month pause on tariffs on some imports from the US to give firms time to re-adjust their supply chains.
There is also “some relief” in the fact that other countries “don’t seem to be imitating the Trump show [by levying their own tariffs]. They’re witnessing this attempt to strong-arm the rest of the world, but it doesn’t seem to be working,” Mary Lovely, the Anthony M Solomon senior fellow at the Peterson Institute for International Economics (PIIE), told Al Jazeera.
But the world is watching how the tariffs will affect the US economy, as “that will also be instructive to other countries”, Lovely said.
“If we see a slowdown, as we expect, it becomes a cautionary tale for others.”
Although the US stock market is near an all-time high, it is heavily weighted towards the “magnificent seven”, said Lovely, referring to the largest tech companies, and that reflects just one part of the economy.
Re-emergence of industrial policy
Trump’s tariffs come on top of other growing challenges for exporters the world over, including China’s subsidy-heavy industrial policy that allows its businesses to undercut its competitors.
“We’ve entered a period of global economic alignment with the reintroduction of industrial policies,” Nadjibulla said, explaining that more and more governments are likely to roll out support for their domestic industries.
“Each country will have to navigate these and find ways to de-risk and reduce overreliance on the US and China.”
Still, countries seeking to support their homegrown industries will have to do so while reckoning with the World Trade Organization and rules-based trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Nadjibulla said.
“It will take some tremendous leadership around the world to corral this wild mustang [Trump] before he breaks up the world order,” Rogowsky said.
“But it will break because I do think Donald Trump will drive us into a recession.”
The entertainment company Paramount Global is expected to close its $8bn merger agreement with Skydance Media on August 7, a date that marks two weeks after the administration of President Donald Trump gave its approval.
On Friday, the two companies announced the final stage of the yearlong deal, which was first unveiled in July 2024.
The merger is considered a massive shake-up in the media landscape of the United States, drawing to a close the reign of the powerful Redstone family over the Paramount entertainment empire.
But the merger has garnered even more attention in recent weeks for its political backdrop.
On Thursday, the Federal Communications Commission (FCC) gave the green light for the merger to go forward, after a series of moves under Paramount that were widely interpreted as concessions to the Trump administration.
The FCC is technically an independent agency of the federal government, but since taking office in January for his second term, President Trump has sought to bring such agencies under his influence, including by appointing loyal allies to their leadership.
That put the fate of the Paramount-Skydance merger in question, particularly given Trump’s combative relationship with CBS Broadcasting Inc, one of Paramount’s premier properties.
Conflicts over content
Trump has long taken an adversarial approach to the news media, and CBS’s flagship news programmes were no exception.
Some of those tensions came to a head in the final weeks of the 2024 presidential election, when Trump, a Republican, was facing off against Democratic contender Kamala Harris.
The TV news magazine 60 Minutes had a tradition of interviewing each of the major party nominees for the presidency in the lead-up to the vote, and it had invited both Trump and Harris to participate.
Harris accepted the invitation, but 60 Minutes said Trump cancelled his scheduled interview. Steven Cheung, a spokesperson for Trump, disputed that characterisation.
“There were initial discussions, but nothing was ever scheduled or locked in,” Cheung wrote on social media. “They also insisted on doing live fact checking, which is unprecedented.”
The back-and-forth escalated when 60 Minutes aired two different cuts from its interview with Harris.
One version, which aired on a sister programme, Face The Nation, featured more of Harris’s answer about her stance towards Israel. The other version, which aired on the 60 Minutes broadcast, was shorter.
Trump called the different edits evidence of deceptive reporting tactics and filed a lawsuit against Paramount, CBS’s parent company.
“CBS used its national platform on 60 Minutes to cross the line from the exercise of judgment in reporting to deceitful, deceptive manipulation of news,” his court filing alleged.
“That is false,” 60 Minutes responded in a statement on its website.
“When we edit any interview, whether a politician, an athlete, or movie star, we strive to be clear, accurate and on point. The portion of her answer on 60 Minutes was more succinct, which allows time for other subjects in a wide ranging 21-minute-long segment.”
While many media experts expected Paramount to prevail on the merits of the case, the company instead sought to negotiate an end to the matter. Earlier this month, it agreed to pay $16m to Trump to go towards his future presidential library.
Shortly thereafter, another top CBS show, The Late Show with Stephen Colbert, revealed it had been cancelled, allegedly for financial reasons.
But the timing and unexpected nature of the cancellation drew speculation that it might have been an attempt to appease Trump and streamline the merger, given the fact that Colbert frequently lambasted the Republican president on his show.
Trump himself posted on Truth Social, “I absolutely love that Colbert’ got fired. His talent was even less than his ratings.”
The Late Show was consistently the top-rated late-night comedy show, and it had won a Peabody Award and multiple Emmy nods.
Days later, on July 22, Trump called for more comedians to be ousted, writing, “It’s really good to see them go, and I hope I played a major part in it!”
That same day, he confirmed he received the $16m for his 60 Minutes settlement, adding that he expected to be receive an additional $20m in free advertising and programming from the “new owners”.
South Park TV show takes aim
Within weeks of both the 60 Minutes lawsuit settlement and the cancellation of The Late Show, the FCC gave its blessing to the merger between Paramount and Skydance.
Under the merger, Skydance founder David Ellison, the son of Oracle Corporation CEO Larry Ellison, is slated to helm operations.
Upon the merger’s approval, Trump’s appointee to lead the FCC, Brendan Carr, released a statement echoing some of the president’s criticisms of major news outlets.
He also hinted that the merger would result in changes to CBS’s news output.
“Americans no longer trust the legacy national news media to report fully, accurately, and fairly,” he wrote. “It is time for a change. That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcasting network.”
“In particular, Skydance has made written commitments to ensure that the new company’s programming embodies a diversity of viewpoints from across the political and ideological spectrum.”
To ensure compliance with that commitment, Carr said an ombudsman would be appointed to the media giant for a period of at least two years.
Carr added that the merger between Skydance and Paramount would also bar the new mega-company from implementing diversity, equity and inclusion (DEI) policies, which are designed to create an equal playing field for people regardless of age, gender, race, ethnicity, religion or ability.
But the merger did not put an end to the scrutiny of Trump on Paramount platforms.
Hours after the FCC granted its approval, the TV channel Comedy Central aired an episode of the animated series South Park that mocked President Trump and satirised its parent company’s $16m settlement.
In one scene, an animated Jesus attempts to warn the show’s characters about Trump.
“The guy can do whatever he wants now that someone backed down, OK?” the animated Jesus says. “You guys saw what happened to CBS? Yeah, well, guess who owns CBS? Paramount! You really want to end up like Colbert?”
The Trump administration has since blasted the show as irrelevant.
WASHINGTON — Justice Department officials were set to meet on Thursday with Ghislaine Maxwell, the imprisoned former girlfriend of financier and convicted sex offender Jeffrey Epstein, according to a person familiar with the matter.
The meeting in Florida, which Deputy Atty. Gen. Todd Blanche said on Tuesday he was working to arrange, is part of an ongoing Justice Department effort to cast itself as transparent following fierce backlash from parts of President Trump’s base over an earlier refusal to release additional records in the Epstein investigation.
In a social media post Tuesday, Blanche said that Trump “has told us to release all credible evidence” and that if Maxwell has information about anyone who has committed crimes against victims, the FBI and the Justice Department “will hear what she has to say.”
A Justice Department spokesperson did not immediately return a message seeking comment on Thursday. The person who confirmed the meeting insisted on anonymity to describe a closed-door encounter to the Associated Press.
A lawyer for Maxwell confirmed on Tuesday there were discussions with the government and said Maxwell “will always testify truthfully.”
The House Committee on Oversight issued a subpoena on Wednesday for Maxwell to testify before committee officials in August.
Maxwell is serving a 20-year sentence and is housed at a low-security federal prison in Tallahassee, Fla. She was sentenced three years ago after being convicted of helping Epstein sexually abuse underage girls.
Officials have said Epstein killed himself in his New York jail cell while awaiting trial in 2019, but his case has generated endless attention and conspiracy theories because of his and Maxwell’s links to famous people, including royals, presidents and billionaires.
Earlier this month, the Justice Department said it would not release more files related to the Epstein investigation, despite promises that claimed otherwise from Atty. Gen. Pam Bondi. The department also said an Epstein client list does not exist.
The Wall Street Journal reported on Wednesday that Bondi told Trump in May that his name was among high-profile people mentioned in government files of Epstein, though the mention does not imply wrongdoing.
Trump, a Republican, has said that he once thought Epstein was a “terrific guy” but that they later had a falling out.
A subcommittee on Wednesday also voted to subpoena the Justice Department for documents related to Epstein. And senators in both major political parties have expressed openness to holding hearings on the matter after Congress’ August recess.
Rep. Thomas Massie, a Kentucky Republican, has introduced legislation with bipartisan support that would require the Justice Department to “make publicly available in a searchable and downloadable format all unclassified records, documents, communications, and investigative materials” related to Epstein and his associates.
House Speaker Mike Johnson and the Republican majority leader, Rep. Steve Scalise, both of Louisiana, have said they will address whatever outstanding Epstein-related issues are in Congress when they return from recess.
Epstein, under a 2008 nonprosecution agreement, pleaded guilty in Florida to state charges of soliciting and procuring a minor for prostitution. That allowed him to avert a possible life sentence, instead serving 13 months in a work release program. He was required to make payments to victims and register as a sex offender.
In 2019, Epstein was charged by federal prosecutors in Manhattan for nearly identical allegations.
Tucker and Williams write for the Associated Press. Williams reported from Detroit.
The move gives US Treasury a chance to recommend replacement, at time that US President Donald Trump is reshaping global economy.
Gita Gopinath, the No. 2 official at the International Monetary Fund (IMF), will leave her post at the end of August to return to Harvard University, the IMF has said.
IMF Managing Director Kristalina Georgieva will name a successor to Gopinath in “due course”, the financial institution said in a statement on Monday.
Gopinath joined the fund in 2019 as chief economist, the first woman to serve in that role, and was promoted to first deputy managing director in January 2022.
No comment was immediately available from the United States Department of the Treasury, which manages the dominant US shareholding in the IMF. While European countries have traditionally chosen the IMF’s managing director, the US Treasury has traditionally recommended candidates for the first deputy managing director role.
Gopinath is an Indian-born US citizen.
The timing of the move caught some IMF insiders by surprise, and appears to have been initiated by Gopinath.
Gopinath, who had left Harvard to join the IMF, will return to the university as a professor of economics.
Her departure will offer the US Treasury a chance to recommend a successor at a time when President Donald Trump is seeking to restructure the global economy and end longstanding US trade deficits with high tariffs on imports from nearly all countries.
She will return to a university that has been in the Trump administration’s crosshairs after the school rejected demands to change its governance, hiring and admissions practices.
Georgieva said Gopinath joined the IMF as a highly respected academic and proved to be an “exceptional intellectual leader” during her time, which included the pandemic and global shocks caused by Russia’s invasion of Ukraine.
“Gita steered the Fund’s analytical and policy work with clarity, striving for the highest standards of rigorous analysis at a complex time of high uncertainty and rapidly changing global economic environment,” Georgieva said.
Gopinath has also overseen the fund’s multilateral surveillance and analytical work on fiscal and monetary policy, debt and international trade.
Gopinath said she was grateful for a “once in a lifetime opportunity” to work at the IMF, thanking both Georgieva and the previous IMF chief, Christine Lagarde, who appointed her as chief economist.
“I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists,” she said in a statement.
France’s foreign minister says sanctions lifted under a 2015 deal would return if no breakthrough on nuclear issue.
France, the United Kingdom and Germany will reinstate harsh sanctions on Iran by the end of August if no progress is made on a nuclear deal, Western diplomats and officials say.
The economic penalties on Iran that were lifted under a 2015 agreement in return for allowing restrictions and monitoring of its nuclear programme would return by the end of next month “at the latest” if there is no breakthrough, French Foreign Minister Jean-Noel Barrot told reporters in Brussels on Tuesday.
The deadline was announced as pressure mounts on diplomats to find a new solution to Iran’s nuclear ambitions, which Tehran has reiterated are civilian in nature, in the wake of massive Israeli and United States strikes on the country last month.
“France and its partners are … justified in reapplying global embargoes on arms, banks and nuclear equipment that were lifted 10 years ago,” Barrot told reporters before a meeting with European Union foreign ministers in Brussels.
“Without a firm, tangible and verifiable commitment from Iran, we will do so by the end of August at the latest.”
Snapback provision
Under a so-called snapback provision in the 2015 deal, United Nations sanctions are able to be reimposed on Iran if Tehran does not comply with its requirements.
The British, French and German ambassadors to the UN met on Tuesday to discuss reimposing the sanctions, The Associated Press news agency reported.
The issue was also discussed in a phone call on Monday between the foreign ministers of the three countries and US Secretary of State Marco Rubio, two US officials, speaking on condition of anonymity to discuss private conversations, told the agency.
Iran’s UN mission made no comment in response to the threat of returned sanctions, AP reported.
But Iranian Foreign Minister Abbas Araghchi said in recent days that the return of UN sanctions by the European signatories of the 2015 nuclear deal would “end” Europe’s role in the Iranian nuclear issue and as a mediator between Tehran and Washington.
Iran open to US talks
The US and Iran were engaged in extended negotiations over Tehran’s nuclear programme before the Israeli strikes began in June and were joined in their latter stages with strikes by Washington. US President Donald Trump unilaterally withdrew the US from the Iran nuclear agreement in 2018 during his first term in office, declaring it too weak on Iran.
After the attacks in June, Iran suspended cooperation with the International Atomic Energy Agency, which monitors its nuclear programme.
Araghchi said in recent days that Tehran would be prepared to resume nuclear talks with Washington as long as it provides “a firm guarantee” that there would be no further attacks.
He said the Israeli and US strikes have “made it more difficult and complicated to achieve a solution”.
In a statement published by the Iranian Students’ News Agency, Iran’s parliament said on Wednesday that the country should not restart nuclear negotiations with the US until conditions are met. The report did not say what the conditions were.
Trump and his Middle East envoy, Steve Witkoff, have said talks with Iran would happen soon, but nothing has been scheduled.
In the meantime, China has said Wednesday that it will continue to support Iran in safeguarding its national sovereignty and dignity, and in “resisting power politics and bullying,” Foreign Minister Wang Yi told his Iranian counterpart Araghchi.
“China attaches importance to Iran’s commitment not to develop nuclear weapons and respects Iran’s right to peacefully use nuclear energy,” Wang said, according to a readout released by his ministry.
