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.

‘Choice of Law’ Comes Into Play In Mexico’s Civil Case Against U.S. Gun Makers
6Jun By Patti MohrNo Comments
Arms Sales, Military Industry, Types of News: Brief

‘Choice of Law’ Comes Into Play In Mexico’s Civil Case Against U.S. Gun Makers

Photo by Sebastion Pichler June 6, 2022—Massachusetts's "choice of law" rules come into question in the civil case that Mexico brought against U.S. gun manufacturers. The Mexican government started the case against U.S. firms Smith & Wesson, Barrett Firearms, Beretta U.S.A, Colt's Manufacturing, Glock Inc., and Century International Arms, among others. While the manufacturers are headquartered in various U.S. states, Boston, MA is a hub for the distribution of firearms. "Defendants' willfully blind, standardless distribution practices aid and abet the killing and maiming of children, judges, journalists, police, and ordinary citizens throughout Mexico." Case 1:21-cv-11269-FDS, initial filing Cost to Mexico The government's attorneys filed it as a personal injury lawsuit...
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EU Agrees To A Partial Ban On Russian Oil
31May By Patti MohrNo Comments
Europe, EU, Eurozone, Sanctions, Types of News: Brief

EU Agrees To A Partial Ban On Russian Oil

European Council Plans To Accelerate Transition To Alternative Energy May 31, 2022-The 27 heads of government of the European Union agreed today to reduce its dependence on Russian fossil fuels and to accelerate a transition to alternative sources of energy. The decision sets the EU on a course to ban up 90 percent of Russian oil imports by the end of the year. It is part of the sixth round of sanctions against Russia and Belarus in response to Russia's war against Ukraine. "The European Council is committed to intensify pressure on Russia and Belarus to thwart Russia’s war against Ukraine," the Council said in an 11-page document. "The European Council calls on all countries to align with EU sanctions. Any attempts to circumvent sanctions or to aid Russia by other means must be s...
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As Expected, Federal Reserve Raised Its Rate By 50 Basis Points
4May By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

As Expected, Federal Reserve Raised Its Rate By 50 Basis Points

Photo by Kelly L on Pexels.com May 4, 2022-Global financiers closely watched closely today as the U.S. Federal Reserve raised its Federal Funds rate by 0.50 percent. It marks the first large increase in the Fed rate since 2000. With a balance sheet of $9 trillion and a Fed Funds rate of 0.33 percent up until today, the U.S. Federal Reserve has consider room to maneuver to counter inflation. At the end of its two-day meeting, the Fed announced it would raise that rate to 0.75 to 1 percent. The FOMC statement made note of geopolitical events such as the Russia-Ukraine war and China's aggressive COVID-19 policy of locking down whole cities. Furthermore, the committee said it would consider a wide-range of activities before its next decision. "The Committee would be prepared to adj...
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IMF Adjusts Economic Forecast for New Fragmented World
19Apr By Patti MohrNo Comments
Global Economics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

IMF Adjusts Economic Forecast for New Fragmented World

Inflation Expected To Remain High 'For Much Longer' April 19, 2022—War, rising energy costs, and a de-globalizing world are impacting the global economy in large and small ways. The International Monetary Fund is taking note and is adjusting its projection for economic growth to 3.6 percent for 2022 and 2023. That's down from 6.1 percent growth last year. Russia's war on Ukraine and the retaliating sanctions against Russia and Belarus are having the largest impact, according to Pierre-Olivier Courinchas, a lead economist with the IMF. But other factors are weighing down growth prospects too: Inflation, a slowdown in China, and monetary tightening by central banks. Fragmentation Reversing Gains From Globalization The IMF is trying to keep the world integrated, Courinchas said. D...
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Elon Musk Makes Offer To Buy Twitter
14Apr By Patti MohrNo Comments
Big Tech, Digital Economy, Types of News: Brief

Elon Musk Makes Offer To Buy Twitter

Musk Says Platform Has Potential To Advance 'Free Speech Around the Globe' April 14, 2022—In yet another twist and extraordinary move, Elon Musk made an offer on Wednesday to buy 100 percent of the shares of the social networking site Twitter. It comes after Musk, the world's richest person, spent $2.64 billion this year to purchase a 9 percent stake in the company. He briefly agreed to join the company's board on April 9, but then changed course. In an April 13 letter to the Securities and Exchange Commission, Musk said he wants to turn the firm back into a private company. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk wrote. "Howev...
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Crypto In The Russia-Ukraine War
11Apr By Jesús CedeñoNo Comments
Big Tech, Digital Economy, Cryptocurrency, Foreign Aid, International Development, Types of News: Analysis, Types of News: Brief

Crypto In The Russia-Ukraine War

Cryptocurrencies Are Playing Roles In The Battle; And The Battle Is Impacting The Prices This is a follow-up piece to Finance writer Jesús Cedeño's analysis of where cryptocurrencies are today. All viewpoints are his own do not necessarily reflect the views and positions of the Global Economic Report. Neither the writer nor Mohr Media’s GER website are responsible for readers’ investment decisions. April 11, 2022—It’s no coincidence that Bitcoin prices have shown an upward trend since February 25th. Today, we cannot talk about cryptocurrencies without looking at the Russia-Ukraine war. It's a factor that is influencing not only crypto’s value, but also the way governments all over the world are using and reacting to the conflict.   Larry Fink, chairman of BlackRock, says the R...
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UN Boots Russia Out Of Human Rights Council
10Apr By Jacob DavenportNo Comments
Diplomacy, Human rights, Types of News: Brief, UN Security Council

UN Boots Russia Out Of Human Rights Council

UN General Assembly on April 7, 2022 April 10, 2022--This week, the UN General Assembly by a two-thirds majority put forth a resolution to suspend Russia from the UN Human Rights Council. With a vote of 93 for-to-24 against with 58 countries abstaining, the resolution passed.   Some of the countries that voted to remove Russia included Ukraine, France, the United States, the United Kingdom, and Norway. China, Cuba, and Iran joined the countries siding with Russia. Meanwhile, India, Brazil, South Africa, Pakistan, and Singapore were among the 58 countries that abstained from the vote. It was April 7th, and it was the anniversary of the 1994 genocide. Mass Atrocities in Ukraine One of the main factors influencing the special session of the General Assembly was multiple reports...
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Europe Takes On Big Tech
28Mar By Patti MohrNo Comments
Big Tech, Digital Economy, Types of News: Brief

Europe Takes On Big Tech

EU passes sweeping rules for big tech. EU Sets Rules For Online Gatekeepers Like Google, Meta, Amazon, and Apple March 28, 2022—The European Union agreed on a set of new rules for large digital platforms late last week. Lawmakers have been working on the legislation, known as the Digital Markets Act, since 2020. The set of sweeping changes for large platforms gives users greater rights and forces the companies to give greater access to competing operating systems, apps, and advertising positions. "These rules are key to stimulating and unlocking digital markets, enhancing consumer choice, enabling better value sharing in the digital economy, and boosting innovation," said Cédric O, a French Minister of State. "The European Union is the first to take such decisive action in this...
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Nearly 3.7 Million Ukrainians Are Refugees With Millions More Internally Displaced
24Mar By Jacob DavenportNo Comments
Migration, Immigration, Borders, Types of News: Brief

Nearly 3.7 Million Ukrainians Are Refugees With Millions More Internally Displaced

More than 3.5 Ukrainians have fled their country as of March 23, 2022 in the outbreak of war. Photo credit: CBS News. EU Pledges Financial Support For Receiving Countries March 24, 2022--As the Russian incursion continues, more and more Ukrainians escape their battle-beaten, war-torn country. To date, nearly 3.7 million Ukrainians have fled the country. Overall, the United Nations says the war has impacted 12 million. Once inside the European Union, immigrants with visas have access to the entire European Union. The Schengen area is a consortium of 26 European countries that allows unrestricted personal travel between nations for periods up to 90-days. Based on the free movement of people in this visa-free zone, the world's largest visa-free zone, Ukrainian refugees can escape...
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NATO Heads Of State Full-Text Statement
24Mar By Patti MohrNo Comments
Types of News: Brief

NATO Heads Of State Full-Text Statement

NATO Affirms 'Unwavering Support' For Territorial Integrity Of Ukraine March 24, 2022--While meeting in an extraordinary summit today, the heads of state of the 30 countries released a statement about Russia's war against Ukraine. The leaders expressed resolve to counter Russia's aggression and hold Russia and Belarus to account. Also, they called on China to "abstain from supporting Russia’s war effort in any way." The following is the full-text statement from the March 24, 2022 meeting: We, the Heads of State and Government of the 30 NATO Allies, have met today to address Russia’s aggression against Ukraine, the gravest threat to Euro-Atlantic security in decades.  Russia’s war against Ukraine has shattered peace in Europe and is causing enormous human suffering and d...
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