Saturday, March 15

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.

For All The Fuss With Truss, It’s Over
20Oct By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Domestic Politics, Types of News: Brief

For All The Fuss With Truss, It’s Over

Proposed Deficit Spending Put The British Economy At Risk And Created Turmoil October 20, 2022--British Prime Minister Liz Truss announced today she'll be stepping down next week when her party chooses a new leader. She said she informed King Charles she is resigning as leader of the Conservative Party and head of the country's government. "This will ensure we remain on a path to deliver our fiscal plans and maintain our country’s economic stability and national security," Truss said on Twitter. It's been a bruising time for Truss. She served a total of 44 days after Queen Elizabeth made Truss's appointment to office official before peacefully passing away. As the country buried their beloved queen, an era of British strength faded with her. U.K. Prime Minister Liz Truss resig...
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U.S. Treasury Assesses Impact Of Sanctions On Russia
17Oct By Patti MohrNo Comments
Arms Sales, Military Industry, Sanctions, Types of News: Brief

U.S. Treasury Assesses Impact Of Sanctions On Russia

U.S. Government Warns About Secondary Sanctions To People Or Entities Supporting Russia's War October 17, 2022—As Russia has waged war against Ukraine and Ukraine fought back, Western governments have carefully weighed in on the battle through the global financial system. It's a powerful economic coalition that comprises 37 countries. The U.S. government alone issued roughly 1,500 new sanctions and amended 750 more. They target Russia's defense industrial base, the aerospace sector, the microelectronic industry, financial institutions, elites and oligarchs, luxury goods, and oil refining. The sanctions are having an impact on the Russian economy. But is it enough to have an impact strong enough to end the war? Impact of Sanctions On Friday, the U.S. Treasury Department rele...
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EU Advances Bosnia And Herzegovina Membership Request
14Oct By Patti MohrNo Comments
Europe, EU, Eurozone, Geopolitics, Human rights, Types of News: Brief

EU Advances Bosnia And Herzegovina Membership Request

European Commission Demands Candidate Countries Provide Stronger Human Rights Protections October 14, 2022—The European Commission gave the green light to Bosnia and Herzegovina on its candidacy to join the 27-member European Union. The decision, which comes with stipulations, moves to the European Council. EU leaders are aspiring to expand their bloc as a way to spread their perspective on the world stage. Commissioner Olivér Várhelyi called the enlargement policy a "geostrategic investment" in the continent's peace and stability. Candidates for the EU Line Up Ukraine, Moldova, and Georgia are the latest countries to request membership. The bloc already has many countries waiting to get in, including Turkey, Montenegro, Serbia, Albania, and Kosovo. "The Western Balkans are ...
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Turkey And Russia Discuss Energy Deals, Trade in Food
13Oct By Patti MohrNo Comments
Energy Policy, Oil & Gas, Geopolitics, Types of News: Brief

Turkey And Russia Discuss Energy Deals, Trade in Food

October 13, 2022—On the sidelines of a conference in Kazakhstan, Turkish President Tayyip Erdoğan met with Russian President Vladimir Putin. The two leaders discussed trade of Russian grain and fertilizer and plans for Russia to run nuclear plans in Turkey. Energy Deals In addition to the nuclear deals in Turkey, they also discussed transporting Russian gas through Turkey via its ferry system. Putin said Turkey is "the most reliable route to deliver gas to the European Union," according to various news sources that quoted the Kremlin. He added that the hub in Turkey would be a "platform not only for supplies, but also for determining the price." Turkey To Transport Grain And Fertilizer Erdogan said facilitating trade of grain and fertilizer from Russia to other countries is of...
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NATO Reaffirms Support For Ukraine, Strengthens Air Defense
13Oct By Patti MohrNo Comments
Arms Sales, Military Industry, Geopolitics, Types of News: Brief

NATO Reaffirms Support For Ukraine, Strengthens Air Defense

Photo by Kongsberg October 13, 2022—As NATO ministers met in Brussels yesterday and today, Russia's bombardment of Ukraine's capital and nine other cities was fresh on their minds. The war intensified, and NATO and the G7 nations of Western countries strengthened their support for Ukraine. Ukraine has asked the military alliance of 30 countries to fast track its request for membership. Russian President Vladimir Putin warned that would lead to World War II. And many NATO-member leaders took heed. "We do not want world war," French President Emmanuel Macron said on Twitter. Germany, meanwhile, is leading the effort to strengthen Europe's military defense. Air Defense System While NATO treads lightly on expansion. Today, 14 NATO members agreed to jointly develop an air de...
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ESG And GOP Don’t Mix
11Oct By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Types of News: Brief

ESG And GOP Don’t Mix

State treasurers from GOP-led states say ESG investing harms fossil fuel industries. US Republican Treasurers Withdraw $1 Billion From BlackRock Funds October 11, 2022—State treasurers from Republican-led states of Arkansas, Louisiana, South Carolina, Texas, and Utah aren't buying into BlackRock CEO Larry Fink's idea of the power of capitalism to make the world a better place. In fact, they are pulling their state's funds from BlackRock funds altogether. The state GOP treasurers say they oppose BlackRock's position on prioritizing environmental, social, and governance (ESG) in investment decisions. "Corporate America is now at war with the states that make their living in the fossil fuel business," said John Schroder, Louisiana State Treasurer, during a podcast interview with ...
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As The Fed Raises Rates, U.S. Debt Matters More
4Oct By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

As The Fed Raises Rates, U.S. Debt Matters More

October 4, 2022—For years, the policy wonks and heads of government departments told the public that the U.S. national debt didn't matter because borrowing costs were so low. Now, as the Federal Reserve leads central banks in raising interest rates, the price of debt suddenly matters. For the first time, the U.S. debt topped $31 trillion, U.S. Treasury reports. That's up from $16 trillion in 10 years. Moreover, that figure is set to rise. For one, Congress keeps spending more than it is taking in with revenues. By August, the government ran a budget deficit of $944 billion during the first 11 months of the fiscal year, the Congressional Budget Office reported. Here's a look at the FY2022 budget. Source: Treasury, August Monthly Statement Rising Costs of Deficits and Debt ...
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Ukraine Fast Tracks NATO Application After Russia Takes Territory
30Sep By Patti MohrNo Comments
Diplomacy, Geopolitics, Types of News: Brief

Ukraine Fast Tracks NATO Application After Russia Takes Territory

Ukrainian President Volodymyr Zelensky asked NATO to fast-track Ukraine's application on September 30, 2022. September 30, 2022—After Russia took four territories in Ukraine, Ukrainian President Volodymyr Zelensky applied to the NATO security alliance to fast-track Ukraine's application. "Today, here in Kyiv, in the heart of our country, we are taking a decisive step for the security of the entire community of free nations," Zelensky said today in an address to his nation. Zelensky asserted that Russia would have attacked other countries, such as the Baltic states, Poland, Moldova, and Georgia if Ukrainians had not stopped them. "Security has no alternatives. But determination is needed to guarantee it. We are taking our decisive step by signing Ukraine’s application for accele...
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U.S. Inflation Rattles Markets And Consumers
13Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

U.S. Inflation Rattles Markets And Consumers

Once Dismissive Of Inflation, Fed Chair Draws Lessons About Economy From the 1970s September 13, 2022--One might guess that a fraction of a number like 0.1 would have little impact on the global economy. But that guess would be wrong. Today, the U.S. markets took a nose dive, and it was a fall unlike any other since June 2020. The S&P 500 fell 4.3 percent, while the tech-heavy NASDAQ fell 5.16 percent. It all came in response to inflation figures for August, and that's where the figure 0.1 matters. Inflation Holding Strong Economists had expected the inflation figure to drop by 0.1 percent for August. Instead, it rose by 0.1 percent. That means all items the Bureau of Labor Statistics tracks rose 8.3 percent for the year. According to the BLS release, food, shelter, and medica...
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New U.S. Ban On Xinjiang-Made Products Goes Into Effect
22Jun By Patti MohrNo Comments
Global Trade, Human rights, Types of News: Brief

New U.S. Ban On Xinjiang-Made Products Goes Into Effect

Source: WSJ June 22, 2022—A new U.S. law banning products made in Xinjiang, China goes into effect today. It requires U.S. importers to pay close attention to goods that might have been produced by forced labor in Xinjiang Uyghur Autonomous Region. The list of products impacted includes cotton and textiles, hair products, and silicon. Some of the companies named in the import ban are already on the U.S. sanctions list. Last year, for example, the U.S. government ban solar products made in Xinjiang. The complaint by the United States is that the products are made with forced labor by the Chinese government of Uyghurs, Kazakhs, Kyrgyz, and other minorities. The region is known, according to a statement by the State Department,  for ongoing practices by the Chinese government...
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