Reuters World News - US World Cup win, Trump’s crypto conflict, UK racism and Taylor Swift’s wedding

Episode Date: July 2, 2026

The United States reaches the last 16 at the World Cup with a dramatic 2-0 win against Bosnia that saw Folarin Balogun sent off. U.S. President Donald Trump pockets at least $1.4 billion from crypto ventures made lucrative by his administration’s policies. Russia hits Kyiv with missiles and drones. Anti-migrant politics fuel a resurgence of racism in the UK. And excitement reaches fever pitch over speculation that Taylor Swift and Travis Kelce are tying the knot this weekend. Listen to the Morning Bid podcast ⁠⁠here⁠⁠. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hi, I'm Kim Vinell in Wanganui, New Zealand. It's Thursday, July 2nd, today. The US breaks a long, dry spell, beating Bosnia and Herzegovina in a nail-biting World Cup knockout match. Trump's crypto earnings raise questions over a potential conflict of interest. Far-right activists reignite the immigration debate in the UK, sparking fear. And is the most anticipated wedding of the year finally about to happen? The action around Madison Square Garden suggests maybe.

This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week. The US has achieved something it hasn't done in more than 20 years. It's won a knockout stage game at the World Cup and is through to the final. Final 16. Delighted fans celebrate after the tense 2-0 win over Bosnia and Herzegovina. And tense is putting it lightly, especially if you're a football fan. Fulah and Balagan put the Americans ahead before half-time, but was sent off with a red card midway through the second half, forcing the US to defend its lead with 10 men.

Malik Tillman finally eased the nerves with a spectacular free kick eight minutes from time. Speaking of easing the nerves, Harry Kane did the same for England in their game against the Democratic Republic of Congo. England was trailing 1-0 for most of the game, saved by two Kane goals, the second of which wasn't until the 86th minute. The US faces Belgium and England takes on Mexico next. says he's sticking to his 2% inflation target and will disappoint to anyone who expects loose monetary policy because of what President Donald Trump wants. He was speaking on a panel at the European Central Bank Forum in Portugal, where AI's economic impact took central stage. For more, here's Mike Dolan, host of our markets podcast Morningbid. So Kevin Moore showed up in Portugal

yesterday with an explicit idea that he's not going to guide markets on what happens next. going to let them work it out to themselves. But as Federal Reserve chairman, it's almost impossible not to have people hang on your every word. So what he said yesterday probably gave something to everybody. He said that the Fed was intense on meeting its 2% inflation target. And remember, inflation is running it over 4% at the moment. But at the same time, he said the inflation pitcher had improved in recent weeks, probably nodding to the fact that oil prices have fallen so sharply as the Iran-U.S. talks continue. And one more bit of markets news.

The Trump administration has declined to renew the US-Mexico-Canada trade agreement in its current form. That sets the clock ticking on a potential overhaul of the pact that governs $1.6 trillion in annual North American trade. The deal will stay in place for now, but Washington says it wants changes aimed at bringing more manufacturing back to the US and reducing trade deficits with its neighbors. Now, the news U.S. President Donald Trump made $1.4 billion from crypto products last year is raising questions about possible conflicts of interest. Trump has rolled out policies friendly to the crypto industry and dialed back enforcement by the SEC and Justice Department. Our reporter Tom Bergen covers finance regulation

and has been looking into Trump's crypto success. The Trump family has benefited quite significantly from the change in regulatory approach on the part of the Trump administration. The activity that they're engaged in selling crypto tokens was one that attracted significant regulatory scrutiny underneath the Biden presidency. The White House has been very clear that President Trump is not motivated by his own financial interest

when he makes regulatory decisions. However, the regulatory decisions that the White House has made and the pro-crypto approach of President Trump has been very helpful to his business. Tom says even the appearance that Trump's policymaking is influencing his family's crypto gains presents problems for some political ethics experts. The president and the White House have said

that there is no conflict of interest because President Trump's financial interests are held in a trust that he does not manage. so he doesn't have day-to-day management control over his assets in the way he did in the past. Of course, he still owns these assets. It's a key difference between President Trump and previous political leaders

and appointees in the United States where people will sell assets that represent the conflict of interest. Meanwhile, the US president has taken his first flight on his new Air Force One, the one that was a gift from Qatar. So this will be the first flight of what I think is maybe the greatest commercial plane ever built. Trump traveled on the refurbished Boeing 747 to the new Theodore Roosevelt Presidential Library in North Dakota. The cost, speed of renovations and ethics of accepting a luxury jet from a foreign government have all been questioned, though Trump and the Air Force say the plane meets presidential standards.

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Over to Ukraine's capital, which was bombarded by Russian attacks overnight, killing at least eight people and injuring dozens. Ukrainian President Volodymy Zelensky had warned of possible large-scale attacks, and many in Kiev were taking shelter underground. Meanwhile, Europe's record-breaking heat wave has reached Ukraine's front lines. In the southeastern Zaporizia region, soldiers are working in temperatures close to one of 100 degrees Fahrenheit. The machine, it's after work, it's very very hot to sit. This chief sergeant says his

Soviet-era tank has no air conditioning and becomes unbearably hot during combat. In the UK's Southampton and Belfast, a few instances of violent crime by non-white British residents have become a rallying cry for rioting by far-right activists.

The unrest has reignited debate about immigration, and for many of Britain's ethnic minorities, it's resurfacing old fears. Our breaking news correspondent, Sam Tabariti, explains. A lot of people described it as something that kind of had come back or intensified over the years. One man, we spoke to Ali Haider, who moved to Britain from Bangladesh as a child and has lived here for nearly four decades, told us that there were now a moment when he wishes he could hide his brown skin. And And I think that's a pretty stark thing to hear from someone who has spent almost his entire life in the country.

We have healthcare workers, for example, who told their unions that they're seeing more patient refusing treatment based on a nurse's race and an increase in racist remarks at work. Several people said social media has kind of become much more hostile with a Sikh community leader, describing it as a cesspit venom and saying that the level of the level of of abused right now felt really unprecedented. And Sam says there's a bigger political picture driving the vitriol. Many interviews have linked this kind of rise and racism to the political moments as well. So things like the Brexit referendum or debate around migration,

saying the spirit seem to act as flashpoint. The argument is that even when it isn't explicitly racist, framing immigration primarily in terms of crime, pressure on public services or loss of control can make harsher or more up in the hostile views feel a bit more acceptable to express. Speculation is reaching fever pitch that Taylor Swift and Travis Kelsey could be getting married as soon as Friday. Reports suggest it might be at Madison Square Garden in New York. And fans are tracking every clue they can find trying to piece it together in real time. She's literally my idol. I need to see her. Even New York's mayor, Zoran Mamdani, was asked about it at an emergency briefing on record-breaking heat.

My recommendation to all New Yorkers is to stay inside and stay cool. And if you happen to be getting married at Madison Square Garden, you will be staying inside and you will be staying cool. And I think it's a good example to set for the city at large. The NYPD's police commissioner, Jessica Tisch, says there will be a detail in place at Madison Square Garden on Friday night. And from one love story to another, half a mile away, two Russian daredevil artists, climbed to the very top of the Empire State Building. There, they unfurled a large banner urging world peace before one of them got down on one knee, apparently proposing.

The couple have done the sort of thing before. It is known as rooftoping, and they were the subjects of a documentary called Skywalker's Love Story. This time their love show ended with their arrests because wants a proposal without a night in the slammer, right? Very romantic. For more on any of the stories from today, check out Reuters.com or the Reuters app. Don't forget to follow us on your favourite podcast player.

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