2021年10月12日星期二

Tuesday Briefing: U.S. House expected to pass bill to hike debt ceiling, avert default

Tuesday, October 12, 2021

by Linda Noakes

Sponsored by   Deloitte

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Here's what you need to know.

The governor of Texas bars all vaccine mandates, Evergrande contagion fears intensify, and Japan confronts rising inequality after Abenomics

Today's biggest stories

A demonstrator wears a traditional Native American headdress during an Indigenous Peoples' Day protest outside of the White House in Washington, October 11, 2021. REUTERS/Sarah Silbiger

U.S.

The Democratic-controlled U.S. House of Representatives is expected today to give final approval to a Senate-passed bill temporarily raising the government's borrowing limit to $28.9 trillion, putting off the risk of default until early December.

A onetime associate of Donald Trump's former lawyer Rudy Giuliani heads for a trial today that could shed light on how campaign finance operates behind the scenes, including during the Republican former president's failed 2020 reelection bid.

Republican Texas Governor Greg Abbott, responding to what he called "bullying" by the Biden administration, barred all COVID-19 vaccine mandates in the state by any entity, including private employers.

A Black paraplegic man has accused the Dayton, Ohio Police Department of racially profiling him and of brutality after officers stopped his car and dragged him out by his hair onto the road after hearing the man could not use his legs.

Jon Gruden has resigned as head coach of the Las Vegas Raiders after the New York Times reported he had used racist, misogynistic and homophobic language in emails over several years.

FILE PHOTO: A child traveling with migrants is helped out of a boat after arriving in Acandi to cross into Panama and continue north, in Colombia, September 23, 2021. REUTERS/Luisa Gonzalez

WORLD

On their trek north towards the United States, some 19,000 migrant children have crossed the dangerous jungles that sprawl the border between Panama and Colombia so far this year, the United Nations children's agency UNICEF said. The number of children who crossed the Darien Gap is almost three times higher than the total for the previous five years.

Shi'ite Muslim cleric Moqtada al-Sadr's party was the biggest winner in an Iraqi election, increasing the number of seats he holds in parliament, according to initial results. Former prime minister Nouri al-Maliki looked set to have the next largest win among Shi'ite parties.

The delay to England's first coronavirus lockdown was a serious error based on groupthink that went unchallenged, lawmakers said in a report, adding that failures in testing positive cases and tracing their contacts exacerbated the crisis.

Italy's government is under growing pressure to dissolve the Forza Nuova neo-fascist group involved in violent weekend protests against a government drive to make the COVID-19 'Green Pass' mandatory for all workers. Since its foundation in 1997, Forza Nuova has repeatedly been accused of using violence against immigrants and police.

A North Korean propaganda website said that the international Netflix hit 'Squid Game' exposes the reality of South Korean capitalist culture where "corruption and immoral scoundrels are commonplace". The thriller in which cash-strapped contestants play deadly childhood games in a bid to win millions became a worldwide sensation for Netflix when it was released in September.

BUSINESS

China Evergrande Group missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term.

As inflationary pressures mount worldwide, money markets are charging ahead with pricing aggressive interest rate rises, in most cases betting that policy will be tightened far sooner and at a much faster pace than rate-setters are signaling.

British employers increased their payrolls to a record high in September, shortly before the end of the government's wage subsidies scheme, potentially encouraging the Bank of England's progress towards a first post-pandemic interest rate hike.

Japan's stock market has surged and luxury cars are selling fast in Tokyo after eight years of economic stimulus under Abenomics, but that new wealth is concentrated in a small slice of society rather than broadly distributed, data show.

Africa, with its internationally recognised musical talent - and growing mobile phone use - is central to Swedish music streamer Spotify's plans to extend its reach to a billion customers. We examine how music streamers are turning to telcos to make Africa pay.

ROAD TO COP26

U.N. climate envoy Mark Carney tells Breakingviews Global Editor Rob Cox what to expect from the financial services industry at the Glasgow conference.

Quote of the day

"I personally think that bitcoin is worthless"

JPMorgan's Dimon blasts bitcoin

Video of the day

Ancient wine factory a glimpse into a global market

A 1,500-year-old wine factory has been unearthed in Israel, showing how vintners met demand for high quality white wine popular throughout the ancient world.

And finally…

Energy from bogs: Scientists use peat to make batteries

Peat, plentiful in bogs in northern Europe, could be used to make sodium-ion batteries cheaply for use in electric vehicles, scientists at an Estonian university say.

Sponsored by Deloitte: Taking Action on Climate Change

Asia Pacific could see an economic gain if rapid decarbonization efforts are take, according to the Deloitte Economic Institute

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