Friday, May 19, 2023

May 19, 2023 - G7: New sanctions will make sure Russia pays a price, Sunak says

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TradeBriefs Editorial

From the Editor's Desk

Charting and Mapping Chinas Exports Since 2001

By the 1970s, the country’s economy had regressed to a shadow of its historic self, with a per-capita income equal to one-third of sub-Saharan Africa. But over the next four decades, China’s rapid industrial transformation made it the manufacturing powerhouse of the world, and exports rapidly ballooned.

Which markets are receiving all of these exports? This graphic from Ehsan Soltani uses data from the World Trade Organization and the customs office of China to track the biggest destinations of China’s merchandise exports—defined as goods that leave the territory of a country—since the 2000s.

Continued here


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G7: New sanctions will make sure Russia pays a price, Sunak says
G7: New sanctions will make sure Russia pays a price, Sunak says
The prime minister visited the Hiroshima Peace Park, the site where the US dropped the first nuclear bomb, alongside other G7 leaders before the meeting, where the Ukraine war and economic security are likely to be high on the agenda.

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Russia-Ukraine war live: Zelenskiy to attend G7 in person as leaders prepare new sanctions against Moscow
Russia-Ukraine war live: Zelenskiy to attend G7 in person as leaders prepare new sanctions against Moscow
The Kremlin has confirmed that a delegation from African countries hoping to present their initiative to end the conflict in Ukraine would visit Moscow. Kremlin spokesperson Dmitry Peskov said Moscow would be ready to listen to “any proposals” that helped resolve the conflict.





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Russia-Ukraine war at a glance: what we know on day 450 of the invasion
Russia-Ukraine war at a glance: what we know on day 450 of the invasion
The Kremlin has confirmed that a delegation from African countries hoping to present their initiative to end the conflict in Ukraine would visit Moscow. Kremlin spokesperson Dmitry Peskov said Moscow would be ready to listen to “any proposals” that helped resolve the conflict.

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Russia's military has adapted and is now a more formidable enemy for Ukraine, defense analysts say
Russia's military has adapted and is now a more formidable enemy for Ukraine, defense analysts say
\"Even if the Ukrainians perform very, very well, they will have to initially breach through Russian defensive lines and they will have to mop up Russian defensive positions. So there\'ll be attritional fighting, there\'ll be assaults on fixed defensive positions on some level. So it\'ll be difficult.\"



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G-7 leaders to announce more sanctions on Russia; Zelenskyy expected to fly to Japan
G-7 leaders to announce more sanctions on Russia; Zelenskyy expected to fly to Japan
\"The new restrictive sanctions on Russia will have minimal impact on world trade. None of these measures are likely to get Russia to stop its war on Ukraine since Putin is fully committed to that and the sanctions are not harming Russia\'s ability to operate on a day-to-day basis,\" he said in an email.

Work
As Crisis Grows, All of New York’s Migrant Plans Are Met With Outrage  
As Crisis Grows, All of New York’s Migrant Plans Are Met With Outrage
“I get it. It’s terribly hard for a country or a state to admit thousands of immigrants. It’s a heavy burden,” Ms. Moreno said. “But I believe in us as well, as immigrants. I believe that if we put our heads together, work hard, we can create something worthy here in the United States.”




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ABC argues Brittany Higgins broadcast did not identify Bruce Lehrmann and could not have defamed him  
ABC argues Brittany Higgins broadcast did not identify Bruce Lehrmann and could not have defamed him
The ABC said the “concerns notice” Lehrmann’s lawyers issued to the ABC was not an actual concerns notice “in that it did not or did not adequately inform the ABC of the harm that Lehrmann considered to be serious harm to his reputation”.


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Q+A host Stan Grant standing down from ABC show after racist abuse  
Q+A host Stan Grant standing down from ABC show after racist abuse
The ABC permanently appointed Grant, 59, as the full-time host of the weekly flagship discussion program in August 2022, a year after Hamish Macdonald quit and was replaced by rotating hosts.




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Woman convicted after using dead Sea World helicopter pilot's identity in bid to avoid traffic fine  
Woman convicted after using dead Sea World helicopter pilot's identity in bid to avoid traffic fine
The magistrate, Mark Howden, acknowledged Bennett had made a "grave mistake" that would have been deeply distressing to Jenkinson's grieving family, who had reported the identity theft but declined to give a victim impact statement.


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Victoria to limit WorkCover compensation for some mental health injuries, sparking criticism  
Victoria to limit WorkCover compensation for some mental health injuries, sparking criticism
In Australia, support is available at Beyond Blue on 1300 22 4636, Lifeline on 13 11 14, and at MensLine on 1300 789 978. In the UK, the charity Mind is available on 0300 123 3393 and Childline on 0800 1111. In the US, Mental Health America is available on 800-273-8255




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Weather tracker: Italy's floods exacerbated by months of drought  
Weather tracker: Italy's floods exacerbated by months of drought
As of Monday 15 May the wildfires had burned almost half a million hectares (1.25m acres). While wildfires are not uncommon in May, this wildfire has so far burned about 10 times the average for this time of year.


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'Our vote counts': Greek politicians court teenagers in tight election race  
'Our vote counts': Greek politicians court teenagers in tight election race
In a campaign that has been noticeably bereft of debate about the future, despite Greece's ageing population, pollsters believe it will be a miracle if the vast majority of newly enfranchised Greeks vote at all. "We're the lost generation," said Maria Tsiandis, at 22, Stefanos's elder sister. "First there was the crisis, then the pandemic; so much lost time and dreams that no government can make up for."




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Andy Rourke, bassist for the Smiths, dies aged 59  
Andy Rourke, bassist for the Smiths, dies aged 59
He also played in the supergroup Freebass with two other celebrated Mancunian bass guitarists, New Order’s Peter Hook and the Stone Roses’ Mani, and recorded with Sinead O’Connor, the Pretenders, Ian Brown and, in the group DARK, the Cranberries vocalist Dolores O’Riordan.


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National Conservatism: a Tory fringe or the party's future?  
National Conservatism: a Tory fringe or the party's future?
The Guardian is editorially independent. And we want to keep our journalism open and accessible to all. But we increasingly need our readers to fund our work.




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Tupac Shakur Way: California city to name street after iconic rapper  
Tupac Shakur Way: California city to name street after iconic rapper
There is no timeline for the street name addition. The city council legislation says the renamed part of the street will remind people of Shakur’s contributions to Oakland and celebrate art and culture as a catalyst for societal change.


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Montana's TikTok ban: why has it happened and will it work?  
Montana's TikTok ban: why has it happened and will it work?
India banned the app in 2020, citing a wave of dangerous "challenges" that had led to the deaths of some users, but critics argued that the real motivation was the same geopolitical wrangling that has resulted in western nations starting to clamp down three years later. The ban had a marked effect on competition in India, handing a significant market to YouTube's Shorts service, a direct competitor of TikTok hastily released in the country in the wake of the ban.


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Marjorie Taylor Greene claims white supremacist label is same as N-word  
Marjorie Taylor Greene claims white supremacist label is same as N-word
At the same press conference, Greene announced that she had filed articles of impeachment against President Joe Biden; the US attorney general, Merrick Garland; the secretary of homeland security, Alejandro Mayorkas; Christopher Wray, the director of the FBI; and Matthew Graves, US attorney for the District of Columbia.


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These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio  
These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio
Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area where Tidelands Oil Production Company, which is owned by Occidental Petroleum Corporation (Oxy), operates near Long Beach, California July 30, 2013. Occidental Petroleum posted a smaller-than-expected quarterly profit on Tuesday, hurt by lower oil prices in the Middle East and North Africa, where the fourth-largest U.S. oil company is considering an exit. REUTERS/David McNew


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Carl Icahn lost $9 billion on an ill-timed short trade. Here's what he says are 3 big lessons from the soured bet.  
Carl Icahn lost $9 billion on an ill-timed short trade. Here's what he says are 3 big lessons from the soured bet.
Amid the losses, Icahn added $4 billion of his own funds into the company. The separate sale of companies held by the firm also resulted in gains of $3.5 billion that were held outside the investment portfolio, the FT said.


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Nvidia, AMD, Micron lead chip sector higher with AI, Japan in focus  
Nvidia, AMD, Micron lead chip sector higher with AI, Japan in focus
The money manager, who also cited Synopsys results as a positive sign for the chip sector, however, noted that investors see chips as the part of the AI story they can buy into today as \"there\'s no one company you can buy that\'s the lynchpin\" for AI.


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Alibaba Breakup Begins With Spinoff of $12 Billion Cloud Arm  
Alibaba Breakup Begins With Spinoff of $12 Billion Cloud Arm
Overseas, the tech giant is curtailing its global ambitions. Alibaba sold off the last of its shares in Indian fintech giant Paytm this month, accelerating a withdrawal from the world’s fastest-growing mobile and internet arena.


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The stock market has flipped from 'sell the rip' to 'buy the dip,' and that should help push the S&P 500 above a key resistance level  
The stock market has flipped from 'sell the rip' to 'buy the dip,' and that should help push the S&P 500 above a key resistance level
\"We simply do not see equities as that expensive, especially with Fed on a \'pause.\' Ex-FAANG, the forward P/E is 14.8x and the most expensive stocks are staples (~20x) and utilities (17x),\" Lee said.




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