Patti Mohr

Citing Russia’s Aggression in Europe, Japan’s Kishida Steps Up Diplomacy

21Mar

By Patti MohrNo Comments

Diplomacy and International Law, Foreign Aid, International Development, Types of News: Analysis

Citing Russia’s Aggression in Europe, Japan’s Kishida Steps Up Diplomacy

Japan's Prime Minister Kishida visited a mass grave in Bucha, Ukraine and expressed his anger about the atrocities Russia's military committed. Kishida Promises To Boost Public and Private Funds For 'Free And Open' Indo-Pacific March 21, 2023—Russia's aggressive war against its neighbor Ukraine is having an impact in SE Asia where leaders worry that China may try to make similar territorial claims against international law. Moreover, ensuring that the sea lanes stay open to trade is increasingly imperative. Japan is increasing its role as a center of diplomatic circles, especially this year as it hosts the G7 meetings. Japan's Prime Minister Fumio Kishida traveled to India on Monday and Ukraine today in an effort to strengthen diplomatic ties and alliances. "Russia's aggres...

Economic Sands Shift: ‘B’ Is For ‘Beginning’

16Mar

By Patti MohrNo Comments

Europe, EU, Eurozone, and United Kingdom, Finance, Banks, Cryptocurrency, Metals, Finance, Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Videos

Economic Sands Shift: ‘B’ Is For ‘Beginning’

March 16, 2023-Recent turmoil in the banking sector in the United States and Europe poses a challenge to governments facing inflation. Here's my take. Due to the lag effect of central bank policies, what we are seeing in the banking sector is a beginning not an end to financial troubles. https://www.youtube.com/watch?v=oyBfFctQYn4

ECB Decision On Rate Hikes Marked By Uncertainty

16Mar

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Videos

ECB Decision On Rate Hikes Marked By Uncertainty

https://youtu.be/VufZzhUGXWI March 16, 2023—In response to high inflation of 8.6 percent, the European Central Bank raised its three key interest rates by 50 basis points to 3.5 percent, 3.75 percent, and 3 percent. The decision is based on data collected prior to March 1 and does not take recent market turmoil into account. What's interesting is the ECB did not project its future path, noting an "elevated level of uncertainty." For more see ECB Raises Interest Rates Despite Credit Crunch.

ECB Raises Interest Rates Despite Signs Of Credit Crunch

16Mar

By Patti MohrNo Comments

Finance, Banks, Cryptocurrency, Metals, Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

ECB Raises Interest Rates Despite Signs Of Credit Crunch

ECB raises rates by 50 basis points on March 16, 2023. March 16, 2023—The European Central Bank raised its three key interest rates by 50 basis points in response to persistently high inflation. That increases the main refinancing operations, the marginal lending facilities, and the deposit facility to 3.5 percent, 3.75 percent, and 3 percent, respectively. Those rates are up from 0.00 percent, 0.25 percent, and -0.50 percent in June 2022. The move comes in the middle market turmoil stemming from pressure in the banking system over recent rate rises. In its press release, the ECB noted an "elevated level of uncertainty." It takes place as financial distress hits the banking sector in the United States and in Europe. Two U.S. banks collapsed in less than a week, posing a ripple eff...

US Regulators Act Following Bank Collapses

14Mar

By Patti MohrNo Comments

Finance, Banks, Cryptocurrency, Metals, Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

US Regulators Act Following Bank Collapses

Run On Bank Was First Sign Of Significant Volatility Amid Rate Hikes March 14, 2023—U.S. regulators and policymakers acted swiftly over the weekend following the collapse of Silicon Valley Bank on Friday and Signature Bank on Sunday. The runs on the banks by customers are the first signs of major volatility following the Federal Reserve's multiple rate hikes to reduce inflation. The government through the Federal Deposit Insurance Corporation provided a risk-exception guarantee for all bank deposits of the two banks. That mitigated the risk of additional runs on banks. The details are as follows: The FDIC's guarantee would not apply to investors or unsecured debt holders. Regulators removed senior management of the banks. The FDIC took over Silicon Valley Bank and opened Signature...

War Poses Obstacle To G20 Global Collaboration

2Mar

By Patti MohrNo Comments

Diplomacy and International Law, Organizations, IMF, WTO, G7, UN Security Council, Types of News: Brief

War Poses Obstacle To G20 Global Collaboration

Leaders Can't Come To Terms On Joint Statement March 2, 2023—Foreign ministers meeting in India had difficulty overcoming an obstacle to collaborating on global problems due to one big elephant in the room: Russia's invasion of and ongoing war in Ukraine. Heads of state of G20 countries are scheduled to meet in New Delhi in September 2023. Their top diplomats met yesterday and today. Normally, delegates would conclude meetings up with a joint statement detailing areas of agreement on issues like climate change and the global economy. Instead, they settled for an outcome document acknowledging major differences about the Russia-Ukraine war. "The war in Ukraine has further adversely impacted the global economy," the foreign ministers said in the document. "Most members strongly co...

US, Canada, EU Look Deeper Into TikTok Privacy Issues

1Mar

By Patti MohrNo Comments

Big Tech, Digital Economy, Types of News: Brief

US, Canada, EU Look Deeper Into TikTok Privacy Issues

March 1, 2023—Government officials in the United States, Canada, and the European Union are investigating potential data harvesting by the video-sharing app TikTok, which is owned by Chinese firm ByteDance. The governments in those countries and the broader EU banned staff from having the app on devices. This week the European Parliament followed recent actions by the European Commission and the EU Council to ban TikTok from government devices. Furthermore, the parliament "strongly recommended" to lawmakers and staff to remove the app from their personal devices, according to reporting by Reuters. On Monday, the Canadian government adopted similar restrictions. Biden Executive Order Going Into Effect President Joe Biden strengthened and replaced an executive order by former Pre...

Tesla’s Interesting Timing On A New Factory In Mexico

28Feb

By Patti MohrNo Comments

Climate Action, ESG, Sustainable Finance, Communism, Dictatorship, authoritarian, Democracy, Domestic Politics, Types of News: Analysis

Tesla’s Interesting Timing On A New Factory In Mexico

AMLO Welcomes The Deal, Rails Against U.S. Government And Critics Of Electoral Law Feb. 28, 2023—Mexican President Andrés Manuel López Obrador announced today that Tesla plans to build a new electric vehicle plant in Monterrey, Mexico, the second largest city in the country. He hailed the investment as something that would bring well-paid jobs to the region. The new Mexico-based factory will join a Tesla fleet of factories: four in the United States, one in China, and one in Germany. Furthermore, it will benefit from $369 billion worth of U.S. subsidies for clean energy that Congress included as part of the 2022 Inflation Reduction Act. The company is likely to announce more details Wednesday during its planned "Investors Day." The news comes as countries and companies recalibrate...

27Feb

By Patti MohrNo Comments

Big Tech, Digital Economy, Globalization, Disintegration, Nationalism, Populism, Types of News: Analysis

Why The Wuhan Lab Story Matters

Information Control Skewed Science And Public Opinion Feb. 27, 2023—On Sunday, the Wall Street Journal broke the news about a leaked classified U.S. intelligence report that says the Covid-19 virus most likely originated from a laboratory leak. The report matters in more ways than one. At stake are lessons for international cooperation in organizations, trust in government and responsible media management. The article carefully points out the disparate views of different U.S. agencies and says the newly leaked report comes from the Department of Energy. That's significant because DOE "has considerable scientific expertise and oversees a network of U.S. national laboratories, some of which conduct advanced biological research." According to the WSJ, the DOE and the FBI believe t...

House Committee To Examine US Economic Ties With China

27Feb

By Patti MohrNo Comments

Globalization, Disintegration, Nationalism, Populism, Types of News: Brief

House Committee To Examine US Economic Ties With China

Feb. 27, 2023—A new House committee designed to investigate U.S.-China economic relations is set to begin hearings tomorrow. The Select Committee on Chinese Communist Party plans to hear from a human rights advocate, former U.S. national security advisers, and the head of an association for U.S. manufacturing. The committee hearing comes at a time when U.S.-China economic ties are coming under pressure due to the Russia-Ukraine war, Taiwan, and most recently China's spy balloon entering U.S. territorial space. Looking At Business Ties The heads of the committee, Reps. Mike Gallagher and Raja Krishnamoorthi, plan to examine U.S. corporate, private equity, and venture capital investments in China. Appearing on CBS's Face the Nation on Sunday, the congressmen said they are reviewin...