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Greece’s Asylum Freeze Sparks Global Outcry Amid Crete Migrant Surge

In a move that has ignited fierce backlash from human rights organizations and the United Nations, Greece has passed legislation temporarily halting asylum applications from migrants arriving by sea from North Africa. The three-month suspension, approved by parliament with 177 votes in favor and 74 against, allows for expedited repatriation without prior identification. Prime Minister Kyriakos Mitsotakis defended the measure as a “difficult but necessary decision” in response to a sharp rise in irregular arrivals, particularly from Libya to the island of Crete. Over 7,000 migrants have reached Crete and nearby Gavdos this year, straining local resources and prompting concerns from the tourism industry. Rights groups, including the International Rescue Committee, have condemned the ban as illegal and inhumane, warning it violates international and European law. The UNHCR echoed these concerns, emphasizing that the right to seek asylum is a fundamental human right regardless of how or wh...
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Wall Street Inches Higher as Strong Jobs Report Fuels Rate Cut Hopes

U.S. stock futures nudged upward Thursday morning after the June jobs report revealed stronger-than-expected hiring, reinforcing investor optimism for potential interest rate cuts later this year.

The Labor Department reported a gain of 147,000 jobs, surpassing economists’ forecast of 106,000. The unemployment rate dipped to 4.1%, down from 4.3%, signaling continued resilience in the labor market.

In response, S&P 500 futures rose modestly, building on Wednesday’s record close. The Nasdaq 100 and Dow Jones futures also edged higher, reflecting cautious optimism ahead of the July Fourth holiday-shortened session.

Investors interpreted the data as a sign that the economy remains on solid footing, yet not so strong as to deter the Federal Reserve from considering rate cuts. Market sentiment was further buoyed by easing trade tensions, following the U.S. lifting export restrictions on chip design software to China—a move that sent shares of Synopsys and Cadence Design Systems soaring over 5%.

With Wall Street set to close early at 1 p.m. ET for Independence Day, all eyes now turn to the Fed’s next move—and whether this labor market surprise accelerates the timeline for monetary easing.

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