Types of News: Brief Archives

British Parliament Delays Vote on Brexit Withdrawal

19Oct

By Patti MohrNo Comments

Types of News: Brief

British Parliament Delays Vote on Brexit Withdrawal

October 19, 2019-During a rare Saturday session, the British parliament voted 322-306 to delay a vote on a deal that British Prime Minister Boris Johnson negotiated with the European Commission. The postponement dealt a blow to Johnson's plan to allow Britain to exit the European Union in its October 31 Brexit while averting economic shocks to consumers, businesses and citizens. Members of the Labour Party overwhelmingly voted for the amendment to postpone while Conservative Party members voted against it. Down to the Wire The delay is seen as a defeat for Johnson who has promised to steer Britain out of the EU on October 31 with or without a deal. A no-deal exit could mean economic disruptions, including food, fuel and medicine shortages, price hikes, problems at ports and...

U.S. Preps Sanctions Against Turkey in Wake of Military Incursion in Syria

14Oct

By Patti MohrNo Comments

Geopolitics, Middle East, Sanctions, Types of News: Brief

U.S. Preps Sanctions Against Turkey in Wake of Military Incursion in Syria

October 14, 2019-As Turkey continued its military operation into northern Syria on Monday, U.S. lawmakers prepared to impose economic sanctions against current and former Turkish government officials contributing to the "destabilizing actions." While U.S. troops moved out of Syria, U.S. leaders prepared an economic response. In a published statement released on Twitter, U.S. President Donald Trump said he is preparing an executive order to impose the sanctions against "those who may be involved in serious human rights abuses, obstructing a ceasefire, preventing displaced persons from returning home, forcibly repatriating refugees, or threatening the peace, security, or stability in Syria." Aside from sanctions against individuals, further actions could include raising tariffs on s...

14Oct

By Patti MohrNo Comments

Global Trade, Types of News: Brief

Tenuous US-China Trade Talks

October 14, 2019--High-level trade talks between U.S. and Chinese leaders last week produced some results but left the possibility for higher tariffs open in December if details are not settled. "We have a great deal. We're papering it now," U.S. President Donald Trump said on Saturday. "China is going to keep their word. They want to make the deal." China's chief negotiator signaled modest support. "We have made substantial progress in many fields," Vice Premier Liu He said through an interpreter on Friday. "We are happy about it." The partial deal, which is not yet settled, comes at a time when trade between the two countries has fallen. According to a report today in the Financial Times, China's imports from the United States fell 26.4 percent in September while its exports t...

Turkey Drives Military Forces Into Syria

13Oct

By Patti MohrNo Comments

Types of News: Brief

Turkey Drives Military Forces Into Syria

October 13, 2019-Turkey drove its military forces into northern Syria this week, driving out Kurdish forces and civilians and inciting international criticism. Turkish President Recep Erdogan annouced the drive earlier in the week, saying he intends to create a buffer zone where he can resettle up to 3.6 million Syrian refugees now living in Turkey. Since January, U.S. and Turkish leaders have discussed creating a "safe zone" in the region. For Kurds living and fighting in the area, the zone is anything but safe. Turkish forces and their allies captured several villages over the weekend along the Syria's Northern border, according to reports in Al Jazeera. UN High Commissioner for Refugees Filippo Grandi warned that civilian lives are in danger amid the new fighting. "Hund...

EU-UK Talks Intensify Ahead of Oct. 31 Brexit

11Oct

By Patti MohrNo Comments

Diplomacy, Global Trade, Types of News: Brief

EU-UK Talks Intensify Ahead of Oct. 31 Brexit

October 11, 2019--With less than three weeks to go before the United Kingdom exits the European Union without a plan to trade with the rest of Europe, new hope for a deal emerged on Friday as the chief negotiator for the European Commission indicated that talks are intensifying "in a constructive spirit." "We are intensifying technical discussions with the United Kingdom over the coming days, in a constructive spirit," Michel Barnier, the European Commission's Chief Negotiator, said today on Twitter. Earlier in the week, Barnier suggested that an agreement would be "difficult, but still possible." EU Position: No Hard Border in Ireland The European Union would only support a withdrawal agreement if it "avoids a hard border on the island of Ireland, protects the all-island eco...

US Debt Tops $22 Trillion as Lawmakers Deliver New Deal

23Jul

By Patti MohrNo Comments

Domestic Politics: United States, Finance, Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

US Debt Tops $22 Trillion as Lawmakers Deliver New Deal

July 23, 2019--U.S. lawmakers agreed to raise the limit on incurring national debt to $22 trillion to July 31, 2021. They also agreed to a two-year budget agreement that increases spending by $320 billion. Democratic House Speaker Nancy Pelosi called it a "bold, bipartisan and a victory for Democrats and the American people." President Donald Trump said in a tweet the deal is "a real compromise in order to give another big victory to our Great Military and vets." According to Pelosi's statement, the deal increases both defense and non-defense spending and avoids a government shutdown. The U.S. national debt has risen from $11.9 trillion in 2009 to $22 trillion in 2019. Meanwhile, the interest on the debt (marketable non-government) has risen from 2.28 percent to 2.5 percent in th...

Do-or-Die Brexiteer Boris Johnson to Become UK Prime Minister

23Jul

By Patti MohrNo Comments

Domestic Politics: Europe, EU, Eurozone, Globalization, Disintegration, Types of News: Brief

Do-or-Die Brexiteer Boris Johnson to Become UK Prime Minister

July 23, 2019--Boris Johnson, outspoken Eurosceptic politician in the United Kingdom won the conservative party's election to succeed Theresa May as head of party and state in a sweeping victory. Johnson won 92,153 Tory-party votes, nearly double that of his opponent Jeremy Hunt. That gives him a strong mandate to lead his country out of the European Union -- a process that proved too difficult for his predecessor. In his victory speech following the vote count, Johnson said it is "a pivotal moment in history." He said leaders have to reconcile "the deep desire for" friendship, free trade and mutual support for security between the Britain and Europe and "the simultaneous desire, equally deep and heartfelt, for democratic self government." A 'Do-or-Die' Brexit Strategy ...

WTO Deals Blow to U.S. Case Against China’s State-Subsidized Pricing

18Jul

By Patti MohrNo Comments

Communism, Dictatorship, Global Trade, Types of News: Brief

WTO Deals Blow to U.S. Case Against China’s State-Subsidized Pricing

July 18, 2019-- The world's litigation body for trade disputes dealt a new blow to a multiyear effort by U.S. representatives to counteract pricing impacted by state-owned enterprises. The decision impacts a wide range of products, including solar panels and aluminum. More striking, it weighs in on the mounting tension in the global economy between competing economic systems. What: This Week's Action Late Tuesday, a World Trade Organization appellate body upheld a decision by a lower panel regarding U.S. tariffs on a series of mostly industrial products imported from China that U.S. officials believe to be subsidized and under priced. Products impacted include solar panels, wind towers, steel cylinders and sinks, kitchen shelving, lawn groomers, aluminum extrusions and a serie...

Tech Giants Face Investigations, Scrutiny

17Jul

By Patti MohrNo Comments

Big Tech, Digital Economy, Types of News: Brief

Tech Giants Face Investigations, Scrutiny

UPDATE: The European Union settled its 2019 investigation with a legally binding agreement with Amazon in December 2020. That agreement covered the online retail giant's use of non-public seller data and access to its Buy Back and Prime programs. July 17, 2019--As some of the largest tech companies in the world grow in value and market share, they face increasing scrutiny in both the United States and the European Union that they are using their platforms to favor their products over their competitors, collect and use data to their advantage and buyout competitors. The European Union launched a formal investigation into Amazon's use of data on independent retailers selling on its platform to see if it violates competition rules. The investigation will focus on "Amazon's business prac...

France to Impose ‘GAFA’ Tax on Digital Giants

11Jul

By Patti MohrNo Comments

Big Tech, Digital Economy, Domestic Politics: Europe, EU, Eurozone, Types of News: Brief

France to Impose ‘GAFA’ Tax on Digital Giants

July 11, 2019--The French Parliament enacted new legislation today to tax digital companies, including Google, Apple, Facebook and Amazon, earning over €750 million ($844 million) a year. The GAFA tax marks the first time a national government would be garnering income from high-tech's increasing use of data collection and targeted online advertising. Moreover, it might pave the way for international efforts to tax the digital, global economy. Revenue Raiser The tax, known as "GAFA" for the four highest-revenue tech companies, is expected to generate about €400 million in revenue for France this year and €650 million in 2020 ($450 million in 2019 and $730 in 2020). It applies to companies with total annual revenues of €750 million globally with €25 million of that earned in...