Global markets and political circles witnessed a flurry of key developments on Tuesday, ranging from currency moves ahead of a pivotal US Federal Reserve decision to leadership changes at Nestlé and courtroom rulings in high-profile criminal cases.
Diplomatic tensions between the United States and Brazil also deepened, while prosecutors in Utah announced their intent to seek the death penalty in the killing of activist Charlie Kirk.
Euro strengthens against the dollar ahead of Fed decision
The euro advanced against the US dollar on Tuesday, hitting its highest level since September 2021 as investors awaited the outcome of the Federal Reserve’s monetary policy meeting.
The currency gained 0.67% to trade at $1.18415 at 4:35 p.m. CET.
The Federal Reserve is widely expected to cut interest rates by 25 basis points on Wednesday, a move that US Treasury Secretary Scott Bessent said markets had already “priced in.”
Meanwhile, the European Central Bank held rates steady last week, setting up a divergence in monetary policy approaches between the two central banks.
Nestlé chairman Paul Bulcke steps down early
In corporate news, Nestlé SA announced that Chairman Paul Bulcke will step down earlier than planned amid ongoing leadership turmoil at the world’s largest food company.
Bulcke, who has been with Nestlé since 1979 and served as CEO for nearly nine years before becoming chairman in 2017, faced scrutiny following the dismissal of CEO Laurent Freixe over a romantic relationship with a subordinate.
Freixe’s departure came only a year after his appointment, which Bulcke had previously praised as a “perfect fit.”
The company confirmed that Pablo Isla, originally slated to succeed Bulcke next year, will take over as chairman on October 1.
Nestlé emphasized that both Bulcke and Isla had overseen the investigation that led to Freixe’s removal.
Philipp Navratil, a long-time executive in Nestlé’s coffee business, was appointed CEO earlier this month.
Judge dismisses terrorism allegation in Mangione case
In New York, a state judge dismissed terrorism-related first-degree murder charges against Luigi Mangione, accused of killing UnitedHealth executive Brian Thompson outside a Manhattan hotel last year.
Judge Gregory Carro ruled that prosecutors had failed to provide sufficient evidence that the killing was intended as an act of terrorism.
Mangione still faces second-degree murder charges and several other counts.
The case had drawn national attention after Mangione fled following the shooting and was later arrested in Pennsylvania.
Federal prosecutors continue to pursue a separate case that includes the death penalty as a possible outcome.
US signals new sanctions against Brazil over Bolsonaro conviction
Tensions between the United States and Brazil escalated as US Secretary of State Marco Rubio said Washington would announce new sanctions “next week” in response to the conviction of former Brazilian President Jair Bolsonaro.
Rubio accused Brazil’s Supreme Court of engaging in “judicial oppression” and of making extraterritorial claims against American citizens.
The remarks come ahead of Brazilian President Luiz Inácio Lula da Silva’s scheduled speech at the United Nations General Assembly in New York next week.
The diplomatic rift deepens an already contentious relationship, as Bolsonaro’s conviction for involvement in a coup plot continues to reverberate in both domestic and international politics.
Utah prosecutors seek death penalty in Charlie Kirk murder case
In Utah, County Attorney Jeffrey Gray announced that his office will seek the death penalty for Tyler Robinson, the 22-year-old accused of killing conservative activist Charlie Kirk.
Robinson faces seven charges, including aggravated murder, obstruction of justice, witness tampering, and discharging a firearm.
Prosecutors emphasized that the decision to pursue capital punishment was based on the severity of the evidence and circumstances of the crime.
Robinson remains in custody without bail as the case proceeds.
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