Germany to suspend a debt brake
A decision to suspend a so-called debt brake will allow the government to significantly increase new borrowing this year. German Finance Minister Christian Lindner plans to present a supplementary budget next week for the current year that lifts borrowing limits after the top court wiped €60 billion from existing spending plans. Lindner’s decision follows a
Failing Russian oil cap
In the months following the Russian invasion of Ukraine, the U.S. Treasury Department came up with an idea to limit Moscow’s ability to fund its war of aggression against Ukraine by capping Russian oil sales at $60 dollars a barrel. Western efforts to cap the price of Russian oil at $60 dollars a barrel are
Rebounding Japanese economy
The world’s third-largest economy is awakening from its decades-long torpor. After years of deflation or low inflation, Japan is seeing its fastest price growth in more than 30 years. Wages, long stagnant, are rising faster than at any time since the 1990s. Both increases are driven largely by global supply shocks. But they are not
Binance: The fight to control cryptocurrencies
On November 21st Changpeng Zhao, boss of Binance, resigned after pleading guilty to criminal money-laundering charges. He becomes the third founder of a major crypto exchange to be convicted of crimes. In May 2022 Arthur Hayes, who set up Bitmex, was sentenced to six months under house arrest for violating anti-money-laundering laws. And on November
The control of Gaza by Israel Defense forces
Western support for Israel’s campaign is wavering. On November 10th France’s president, Emmanuel Macron, called for a ceasefire in Gaza, saying that, although he supported Israel’s right to respond to Hamas’s terror attack on October 7th, “de facto, there’s babies, there’s ladies, there’s old people bombed and killed. Two weeks after the launch of its
Israel Settlers in West-bank destabilizing the area
Last year was already the deadliest for Palestinians in the West Bank for 20 years. Settler groups have become bolder and the army has intensified its raids on Palestinian towns and cities. But since October 7th things have dramatically worsened. At the current rate, the four weeks following the Hamas attack will have been more
Israel strikes a hostage deal Hamas
The prisoner swap could begin as early as November 23rd. It will take place in phases over four days, with Hamas releasing around a dozen captives each night. They will be sent from Gaza to Egypt, and then back to Israel. For each hostage freed, Israel will release three Palestinian prisoners (also women and children)
X sues advocacy group
Firms including Apple, Disney, IBM and Comcast have paused adverts on X since the watchdog released its analysis. Elon Musk’s social media platform X has sued a left-leaning pressure group that accused the site of allowing antisemitic posts next to advertising. After Mr Musk threatened the lawsuit, Media Matters called him a bully. The advocacy
Sam Altman reinistated as the CEO of OpenAI
AI is evolving rapidly, growing ever more powerful – and that makes it potentially more of a threat. In a very recent speech Mr Altman himself said what was coming next year from OpenAI would make the current ChatGPT look like “a quaint relative” – and we know the existing model is able to pass
DR Congo indiscriminate bombing at North Kivu
Over the last quarter century, hundreds of thousands of Congolese Tutsi have fled to neighbouring countries, such as Burundi, Rwanda and Uganda. In Rwanda alone, there are at least 80,000 of Congolese refugees, most of them living in camps. As fighting continues in eastern DR Congo, the M23 rebel group has accused the government coalition