Global Roundup

January 6, 2024by Frank Hemle0

EU’s Borrell sees Argentina more open to EU-Mercosur trade deal. Argentina, whose new president Javier Milei has said the South American common market Mercosur serves no purpose, now appears to be more willing for the bloc to sign a free trade deal with the European Union, the EU’s top diplomat Josep Borrell said. (Reuters)

White House warns Red Sea turmoil could hit US economy. Ship diversions may eventually be felt by American consumers, says White House spokesman. (Freightwaves)

Europe’s inflation is up after months of decline. Could it delay interest rate cuts? Inflation plaguing Europe rose to 2.9% in December, rebounding after seven straight monthly declines as food prices rose and support for high energy bills ended in some countries. The rise in price levels fueled debate over how soon interest rate cuts could be expected from the European Central Bank. (AP)

Israeli minister outlines plans for Gaza after war. Israeli Defense Minister Yoav Gallant has outlined proposals for the future governance of Gaza once the war between Israel and Hamas is over. (BBC)

US employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength. The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American labor market remains resilient even in the face of sharply higher interest rates. (AP)

England flooding: Hundreds of homes evacuated after heavy rain. Hundreds of homes have been devastated by flooding in England following a powerful storm and a week of heavy rainfall. (BBC)

The three men vying to be Taiwan’s next president. On Jan. 13, Taiwan will elect a new president in a critical race that could redefine the island’s relationship with China. (BBC)

Amid Gaza war, regional escalation draws US deeper into Middle East crisis. As the fighting in Gaza continues to intensify, the U.S. is increasingly becoming more involved—militarily and diplomatically—in three other hotspots in the Middle East, with fears growing that rising tensions could spiral into a much bigger war. (Axios)

Year of the underdog: How ‘outsiders’ upended Latin America’s elections. From Argentina to Guatemala to Ecuador, voters rejected establishment candidates in this year’s presidential races. (Al Jazeera)

Fabric wars: Ghana’s colorful prints face renewed Chinese competition. Cheap China-made African print wax brands have been present in markets on the continent for decades, initially as badly-made replicas, but increasingly, as high-quality alternatives. (Al Jazeera)

Saving the Panama Canal will take years and cost billions, if it’s even possible. The vestiges of an ancient forest tell the story of just how bad things are at the drought-stricken Panama Canal. (Bloomberg)

Maersk pauses transit through Red Sea until further notice after attack on ship. Danish shipping giant said it will pause all transit through the Red Sea and Gulf of Aden until further notice following the attack on its vessel Maersk Hangzhou on Dec. 30. (WSJ)

Frank Hemle

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