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US

Russia can accept US proposals for coordinated fight against Islamic State

The Russian Defense Ministry said on Wednesday US proposals for coordinated efforts to fight Islamic State militants in Syria could be accepted. Some technical details just need to be specified, Russian Defense Ministry spokesman Major General Igor Konashenkov says. Source: TASS

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October 7, 2015 by The Board

Oil Drillers Hunker Down for More Pain One Year Into Bear Market

Drillers are cutting costs with a speed and brutality not seen in decades, enabling many oil producers to maintain output even as prices remain low. Goldman Sachs Group Inc. sees crude falling a further $10 a barrel as storage tanks fill up in the coming months. Source: Bloomberg

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October 7, 2015 by The Board

JPMorgan buys more mortgages from other lenders as market shrinks

JPMorgan Chase & Co, looking to stem falling revenue in its mortgage business as fewer Americans refinance, is increasingly buying loans from smaller lenders, a practice that competitors including Bank of America view as risky. JPMorgan said it reviews every loan it buys in detail. Source: Reuters

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October 7, 2015 by The Board

Iran’s supreme leader bans negotiations with the United States

Iran’s Supreme Leader Ayatollah Khamenei banned any further negotiations between Iran and the United States, less than three months after Iran signed a nuclear deal with the West. In an address to Revolutionary Guards Navy commanders, Khamenei said talks with the United States brought only disadvantages to Iran. Source: Reuters

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October 7, 2015 by The Board

Russia offers to reopen, broaden military talks with the U.S. over Syria

Russia and the US tentatively agreed to resume talks on how to prevent conflicts between their warplanes in the skies over Syria. After days of complaints about a lack of cooperation and risky maneuvers by Russian warplanes, Russia’s Defense Ministry offered to hold another round of discussions. Source: Washington Post

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October 7, 2015 by The Board

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GEOPOLITICAL

Organiser of NHS pay protest in city centre facing £10,000 fine

An NHS worker who organised a protest over the government’s 1 per cent pay offer in Manchester city centre has been fined £10,000. Karen Reissmann, a mental health worker and Unison rep, was among those who turned up for the demonstration in St Peter’s Square at midday on Sunday. All attendees were wearing masks and cones were marked out on the floor to help maintain social distancing. Source Manchester Evening News

March 7, 2021 by The Board

Calls for new Covid-19 origins inquiry amid concerns China withheld data from WHO-led team

Scientists claimed the WHO mission was unable to act free of ‘political influence’, ahead of the publication of a final report this month. More than two dozen scientists have called for a new investigation into the origins of the coronavirus pandemic, amid concerns it was “all but impossible” for a World Health Organization-led team to operate free of political influence. Source Telegraph

March 7, 2021 by The Board

Last Week 745,000 Americans Filed For First-Time Unemployment Benefits

Last week 745,000 people filed for first time unemployment benefits according to the Department of Labor. The high numbers reflect the severe effects the pandemic had on the economy and job market. With the recent data, roughly 80.4 million Americans filed for unemployment benefits since the start of the covid outbreak last March. Source Forbes

March 5, 2021 by The Board

Hungary’s rule of law stance left Fidesz isolated in EPP, says Manfred Weber Access to the comments

Hungarian prime minister Viktor Orban’s Fidesz party was left isolated in the EPP, the group’s chair Manfred Weber has told Euronews after Fidesz quit the grouping on Wednesday. Orban pulled his party out of the conservative European People’s Party – which is the biggest in the European Parliament – due to changes to its internal rules. Source Euro News

March 3, 2021 by The Board

Coronavirus: Tokyo asks China to stop anal swab tests on Japanese citizens

  • Some of those subject to the tests complained of ‘psychological distress’, a top government spokesman says
  • The US has also protested after its diplomats were also reportedly subjected to the tests, a claim denied by Beijing

The Japanese government has requested China not to subject Japanese citizens entering the country to anal Covid-19 tests after receiving complaints of “psychological distress” from some of them, the top government spokesman said Monday. Source SCMP

March 3, 2021 by The Board

Man arrested after suspected terror attack in southern Sweden leaves eight injured

Eight people have reportedly been left injured in an attack in southern Sweden described by police as an act of suspected terrorism. Authorities said the situation was “under control” with the suspected attacker having been shot and arrested by police. Source The Local

March 3, 2021 by The Board

France bans far-right anti-migrant group Generation Identity

France on Wednesday banned far-right group Generation Identity (Génération Identitaire), which is known to be hostile to migrants, for incitement to discrimination, hatred and violence, Interior Minister Gérald Darmanin said. Source France24

March 3, 2021 by The Board

Germany places entire far-right AfD under surveillance — reports

Germany’s domestic intelligence agency is investigating the far-right Alternative for Germany — the largest opposition party in parliament — according to national media. The move comes ahead of national elections. Source DW

March 3, 2021 by The Board

Ukraine throws away unused COVID-19 shots as doctors skip their own vaccinations

Ukrainian medical facilities have thrown away some unused COVID-19 vaccines after doctors failed to show up for their own appointments to be vaccinated, ruling party lawmakers said on Monday. Source Reuters

March 3, 2021 by The Board

Morocco cuts contact with German embassy – reports

Morocco is suspending “all contact” with the German embassy in Rabat over Berlin’s stance on the Western Sahara region, local media reported late Monday. In December, Germany criticized then-US President Donald Trump for recognizing Morocco’s sovereignty over Western Sahara. Source DW

March 2, 2021 by The Board

Turkey’s Baykar begins designing AI-powered combat drone

A Turkish drone maker has begun the conceptual design phase of what it hopes will become the country’s first combat drone. Haluk Bayraktar, the general manager of Baykar Savunma, said Feb. 28 that the aircraft is the firm’s “top priority program.” Source c4isrnet

March 2, 2021 by The Board

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FINANCIAL

GM extends production shutdown into April due to semiconductor chip shortage

General Motors will keep two of its assembly plants shuttered until at least mid-April, another until the end of March and will idle a fourth, all due to a severe shortage of semiconductor chips used in various vehicle parts. Source Detroit Free Press

March 5, 2021 by The Board

Germany’s Lufthansa announces record losses for 2020

Germany’s national carrier Lufthansa has announced billions of euros worth of losses for 2020. Coronavirus disruption has catapulted the airline into an unprecedented crisis. The German airline Lufthansa on Thursday announced a record loss of €6.7 billion ($8 billion) in the COVID-19-stricken year of 2020. That compared with a profit of €1.2 billion for 2019. Source DW

March 5, 2021 by The Board

Italy raises €8.5bn in Europe’s biggest-ever green bond debut

Investors flocked to Italy’s inaugural environment-focused government bond offering on Wednesday, allowing the country to raise more than €8bn. The banks running the issuance chalked up around €80bn in orders for €8.5bn of debt. It was the biggest debut sovereign green bond from a European issuer to date, according to Intesa Sanpaolo, which worked on the deal.  Source FT

March 3, 2021 by The Board

Support for a program to pay reparations to descendants of slaves is gaining momentum, but could come with a $12 trillion price tag

  • A movement supporting reparations as a way to make amends for the atrocities of slavery and to reduce the persistent wealth gap is gaining momentum.
  • One hundred and forty-two members of Congress support H.R. 40, the bill to study reparations.
  • William Darity, professor of public policy at Duke University, estimates a concrete program could cost the U.S. government between $10 trillion and $12 trillion. Source CNBC
March 1, 2021 by The Board

House passes $1.9 trillion stimulus as Democrats work to salvage wage raise

The House passed President Biden’s $1.9 trillion stimulus plan early Saturday in a nearly party-line vote, advancing a sweeping pandemic aid package that would provide billions of dollars for unemployed Americans, struggling families and businesses, schools and the distribution of coronavirus vaccines. Source MSN

February 27, 2021 by The Board

Exxon takes Canadian oil sands off its books in historic reserves revision

Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history.

Exxon counted the equivalent of 15.2 billion barrels of reserves as of Dec. 31, down from 22.44 billion a year earlier, according to a regulatory filing on Wednesday. The company’s reserves of the dense, heavy crude extracted from Western Canada’s sandy bogs dropped by 98%. Source World OIl

February 25, 2021 by The Board

Reuters: Germany’s Bilfinger drops out of Nord Stream 2 pipeline

German construction and engineering group Bilfinger has withdrawn from work related to the construction of the Nord Stream 2 gas pipeline, German tabloid Bild reported, citing letters it has obtained. Source World Pipelines

February 25, 2021 by The Board

Spain’s government debt ends 2020 at 117.1% of GDP

Spain’s public debt ended 2020 at 117.1% of gross domestic product as the coronavirus pandemic and the measures imposed to curb it lifted borrowing and led to a deep economic contraction, the Bank of Spain said on Wednesday. Source Reuters

February 23, 2021 by The Board

Abengoa bankruptcy filing marks Spain’s biggest corporate failure

  • Spain’s Abengoa (OTCPK:ABGOF, OTCPK:ABGOY) says it filed a request for bankruptcy before the court in Seville, becoming the country’s biggest company to go bust.
  • The renewable energy company had €7.9B ($9.6B) in liabilities as of March 31, of which €3.9B were net corporate debt, according to its latest earnings statement.
  • Abengoa’s restructuring deal with creditors fell apart after it failed to secure €20M from Andalusia’s regional government. Source Seeking Alpha
February 23, 2021 by The Board

Global debt hits new high of $281T in 2020

Global debt rose to a new record high of $281.5 trillion in 2020, driven by measures to curb economic fallout from the coronavirus pandemic, according to the Institute of International Finance (IIF), a global trade group of financial institutions. Source AA

February 18, 2021 by The Board

As Paris asks Berlin to suspend Nord Stream 2, Gazprom reveals France has increased its own purchases of Russian gas by almost 50%

Less than a month after a senior politician in Paris asked Germany to put a stop to the controversial Nord Stream 2 pipeline, energy giant Gazprom has revealed that France has bought 43 percent more Russian gas so far this year. The latest financial report from the country’s largest company divulged that France’s underground gas storage facilities are less than 30 percent full. Source RT

February 17, 2021 by The Board

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Europe's geopolitical situation resembles that of 1913.

The enlargement of the European Union to the east, Germany's Ostpolitik, economic power and its reluctance to align its policy with France's and Italy's make the break-up of the Union unavoidable. While Germany is gaining a status of a financial superstar, German society is starting to disintegrate.

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