Ecuador and China Reach Agreement to Restructure Billions of Debt
Ecuador scores some debt relief.
International
Walmart Charters Its Own Cargo Ships to Skirt Port Traffic Jams
Before Covid, it was rare to see more than one ship lined up at America’s biggest port complex, the Los Angeles and Long Beach terminal. As of today, there are over 60 of them, filled with billions worth of toys,…
17 Years Later, EU and U.S. Settle Airbus/Boeing Standoff
It’s always nice to see old friends bury the hatchet. On Tuesday, the U.S. and EU put an end to a bitter, 17-year trade standoff that started over aircraft subsidies for Boeing and Airbus. Billions of tariffs on both economies…
EU Presses Pause on Tariff Increases as it Seeks Reconciliation With America
Is there a better way to celebrate letting bygones be bygones than with a toast? Not in this case. The European Union agreed Monday to pause its plans to raise tariffs on American whiskey, orange juice, and some other, non-libatious…
BlackRock To Enter $18.9 Trillion Chinese Wealth Management Market
The world’s biggest asset manager is about to say “nĭ hăo” to a wealth of new clients. BlackRock won approval Wednesday to bring its wealth management business to mainland China, as the global investment firm looks to crack into the…
Toshiba Considers Private Buyer As Shareholders Get Testy
In the history of sprawling, amorphous conglomerates, Japan’s Toshiba has had its finger in as many pies as anyone. It has sold everything from laptops to escalators to kettles to X-ray machines to nuclear power. Now, it’s considering selling something…
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Portuguese Homeowners Get Paid to Borrow
Here’s one way to turn a negative into a positive. Some mortgage borrowers in Portugal are getting paid interest on their own loans. It’s a dream scenario set up by Europe’s protracted economic pain, where negative interest rates have turned…
The World Bank’s IFC Taps First African Head
African diplomacy has had a landmark month. Yesterday the International Finance Corporation, the private sector arm of the World Bank, appointed Makhtar Diop, Senegal’s former finance minister, as its managing director. Earlier this week the World Trade Organization named Ngozi…
Super Mario Draws A Crowd
The man who helped save the Euro now has bond investors in a frenzy. Just a few days after Mario Draghi was sworn in as Italy’s new prime minister, the country’s 10-year bond offering drew a record €110 billion of…
New Kids on the Bloc
Today is the one year anniversary of the U.K. leaving the world’s largest trading bloc, the EU. How are they planning to celebrate? By applying to join another one. U.K. Prime Minister Boris Johnson will formally apply for membership in…
A New Covid-19 Strain Has Europe Social Distancing from England
Not even the $900 billion stimulus could overpower headlines from yesterday such as: “U.K. Tightens Rules As A Variant Of The COVID-19 Virus Spreads.” Sensationalism aside, here is what to know about the new strain of COVID-19 spreading in the…
