Sunday, November 24

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

3Mar By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

U.S. Federal Reserve Says Economic Outlook Has ‘Changed Materially’ as Coronavirus Spreads

March 3, 2020--Over a week into turbulence in the financial markets from a global outbreak of the coronavirus, the U.S. Federal Reserve cut its policy rate by 50 basis points amid signs that the economic outlook has "changed materially." Federal Reserve Chair Jerome Powell said he expects the COVID-19 virus to impact the global economy "for some time." It has already affected tourism and travel industries and threatens to disrupt global supply chains. "The magnitude and persistence of the overall effects on the economy, however, remain highly uncertain, and the situation remains a fluid one," Powell said on Tuesday. Globally, the COVID-19 virus has infected at least 90,893 people across 21 countries and killed 3,110, the World Health Organization reported today. Market Turbulence ...
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Instability in Key Trade Route ‘Jeopardizes Trade and Energy Supplies’
22Jan By Patti MohrNo Comments
Energy Policy, Oil & Gas, Global Trade, Types of News: Brief

Instability in Key Trade Route ‘Jeopardizes Trade and Energy Supplies’

January 22, 2020-In a sign of the escalating tensions between the West and Iran, more countries are expressing support for the international coalition protecting shipping traffic through the Strait of Hormuz. South Korea is the latest to announce a plan to send a naval destroyer to the strait. On Tuesday, the government said it is sending an independent and temporary mission to "guarantee the safety of our people and the freedom of navigation of our vessels,” according to a news report in Stars and Stripes. Iran had previously warned South Korea against joining a US-led coalition. New European Naval Mission On Monday, the governments of Belgium, Denmark, France, Germany, Greece, Italy, the Netherlands, and Portugal released a joint statement warning that rising instability in the ...
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Spain Says Climate is National Emergency
22Jan By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Types of News: Brief

Spain Says Climate is National Emergency

January 22, 2020-Spain's new socialist government declared that climate change is a national "emergency." The government plans to make it a cornerstone issue for all ministerial departments and government actions. That adds Spain to a list of more than two dozen countries that have declared climate change an emergency. The coalition government led by Prime Minister Pedro Sánchez, who took office on 13 January, plans to bring legislation to the parliament to reduce greehouse gas emissions to a net zero by 2050, according to reporting by Euractiv and AFP. If parliament approves the bill, it would require "all urban areas with a population of more than 50,000 to create low-emission zones," Reuters reported.
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21Jan By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

Global Debt Rises to $188 Trillion

In case you missed it... (We did!) Jan. 21, 2020-Global debt rose by $3 trillion in 2018 to reach $188 trillion, according to data released late last month by the International Monetary Fund. The data suggests many countries will be "ill-prepared" for the next economic downtown, an IMF blog post asserted. Referencing the data in an interview today with CNBC, IMF chief Kristalina Georgieva said the low interest rates fueled higher risk investments, such as stocks. She added that loose monetary policies are responsible for a significant amount of global growth.
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As Impeachment Trial Begins, Government Agency Says Withholding of Foreign Aid Was Illegal
16Jan By Patti MohrNo Comments
Foreign Aid, International Development, Types of News: Brief

As Impeachment Trial Begins, Government Agency Says Withholding of Foreign Aid Was Illegal

Jan. 16, 2020-As the impeachment trial of U.S. President Donald Trump got underway with the swearing in of Chief Justice John Roberts and most of the 100 U.S. senators, a government agency issued a report today saying it was illegal for the Executive Branch to withold to Ukraine in 2019. "Faithful execution of the law does not permit the President to substitute his own policy priorities for those that Congress has enacted into law," the legal decision by the Government Accountability Office said. The specific law in question is the Impoundment Control Act. The timing of the GAO decision is relevant because it gets to the heart of the impeachment trial now underway in the U.S. Senate. According to the GAO, Congress had appropriated $250 million in U.S. funds for Ukraine. The i...
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16Jan By Patti MohrNo Comments
Global Trade, Types of News: Brief, United States

Congress Clears US-Mexico-Canada Trade Deal

January 16, 2020-It's a big week for trade. A day after the United States and China agreed to a phase one of a trade deal, the U.S. Senate approved a trade agreement that replaces NAFTA. Only nine senators voted against it while 89 voted for it. Since the House has previously passed it with a bipartisan 385-41 vote, the agreement is cleared for the White House. The deal, the USMCA, is a massive three-way agreement that covers goods worth about $1.3 trillion. Leaders of Mexico, Canada and the United States signed the deal in late 2018. Mexico's Senate voted for the agreement on June 20, 2019 and a revised treaty on Dec. 12, 2019. It's up to the Mexican president to ratify it. Canada is expected to consider implementing legislation when the new Parliament begins its session. For...
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8Jan By Patti MohrNo Comments
Energy Policy, Oil & Gas, Sanctions, Types of News: Brief

‘We Do Not Need Middle East Oil,’ Trump Says

January 8, 2020-As he addressed the nation and the world at the height of an escalating crisis between Iran and the United States, President Donald Trump emphasized American strength in military capabilities, economic growth and natural resources in a sign he is not backing down from the possibility of war with archrival Iran. Trump called on signatories to the 2015 nuclear deal with Iran to abandon the agreement, asked the NATO alliance to take a stronger role in the Middle East, and announced new economic sanctions on Iran. Trump showed no sign of de-escalating the conflict with Iran. He said Iranians chanted "death to America" even as the United States signed onto the 2015 nuclear deal and fomented conflicts in Yemen, Syria, Lebanon and Iraq. Furthermore, he reinforced his decisio...
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NAFTA Replacement to Move Forward in U.S. Congress
10Dec By Patti MohrNo Comments
Global Trade, Types of News: Brief, United States

NAFTA Replacement to Move Forward in U.S. Congress

December 10, 2019-House Speaker Nancy Pelosi and fellow House Democrats announced support for the U.S. -Mexico-Canada Trade Agreement today. Pelosi said the trade agreement is better than NAFTA and "infinitely better" than what President Donald Trump had initially proposed. "It's a victory for America's workers and one we take great pride in advancing." It's been a year since the leaders of Canada, the United States and Mexico signed the trade agreement. The deal covers agriculture, intellectual property, digital trade and financial services. The legislatures in all three countries need to ratify the deal before it takes effect. Democrats said the key to winning their support was working out enforcement mechanisms, particularly in the areas of labor and environment.
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Senate Panel Focuses on Crime-Related Migration at US-Mexico Border
13Nov By Patti MohrNo Comments
Corruption, Bribes, Illicit Finance & Money Laundering, Human rights, Migration, Immigration, Borders, Types of News: Brief

Senate Panel Focuses on Crime-Related Migration at US-Mexico Border

October 13, 2019--A Senate committee examining migration at the U.S.-Mexico border on Wednesday focused largely on crimes, such as child exploitation, drug trafficking and human smuggling. With just under a million cases of immigrants entering the U.S. border in the fiscal year 2019, the U.S. justice system of processing and detaining immigrants is overwhelmed, U.S. officials reported. Child Pawns Of primary concern are children who are used as human pawns for individuals seeking to enter the United States illegally. According to Mark Morgan, the acting commissioner of the U.S. Customs and Border Protection, human smugglers use children as a "money-making commodity" by selling or renting them to migrants. "We know children are being rented and recycled and presented as fake fa...
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Syrian Constitutional Committee Begins in Geneva
30Oct By Patti MohrNo Comments
Diplomacy, Middle East, Political Systems, Domestic Politics, Types of News: Brief, UN Security Council

Syrian Constitutional Committee Begins in Geneva

October 30, 2019-As fighting again broke out in northern Syria, representatives the Syrian government, opposition forced and civil society met today in Geneva to negotiate a new constitution for the country plagued by eight years of civil war. "The task you are about to take is momentous," UN Special Envoy for Syria Geir Pedersen told the 150 delegates. "You are mandated to prepare and draft for popular approval a constitutional reform as a contribution to the political settlement in Syria." UN Special Envoy Geir Pedersen said he knows it "is not easy" for members to be present next to one another. (See video.) The directive is part of Security Council Resolution 2254, adopted unanimously in 2015, which sets out goals for a political solution for a sovereign state of Syria. Th...
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