World

China denies using currency devaluation as trade war tactic

A woman ties a ribbon around a stack of yuan
Chinese yuan. Photo: AFP via Getty Images

A spokesperson for the Chinese foreign ministry said Beijing has no desire to deliberately manipulate its currency to temper the effect of U.S. tariffs, reports Bloomberg.

“The exchange rate of China’s RMB is determined by the market. There are ups and downs. It’s a two-way float ... The U.S. is bent on provoking this trade war. China does not want a trade war but we are not afraid of one."
— Foreign ministry spokesperson Geng Shuang

Go deeper: Trump's tweet and fury at Iran

President Trump tweeted an explosive, all-caps threat directed at Iran's president Hassan Rouhani late Sunday:

Why it matters: Trump's decision to withdraw from the Iran nuclear deal in May and reimpose sanctions escalated tensions between the two countries.

Mass shooting hits Toronto: 13 victims wounded, 1 dead

Police secure a shooting scene in Toronto
Toronto Police officers walk the scene at Danforth St. at the scene of a shooting. Photo: Cole Burston/AFP via Getty Images

A man opened fire along a busy Toronto avenue late Sunday night, wounding 13 people and killing at least one, The Globe and Mail reports.

The details: Police say the shooter, who was killed in a gunfire exchange with authorities, used a handgun to target at least two restaurants or cafes. His motive is not yet known.