Getting in one last bit of work before the long weekend, the US Census Bureau released its Monthly Advance Economic Indicators Report for October on the day before Thanksgiving. Advance wholesale inventories were up for the month of October, by 0.9%. The August to September percentage change was revised from up, 0.4% to up 0.7%.
The police beatings of a black man in Paris, which left President Emmanuel Macron shocked, has rekindled debate on racism and police violence in the midst of controversy over a security bill. Disturbing footage showed four policemen mercilessly clobbering a black music producer on the doorstep of his Paris studio.
According to French officials, company executives, and consultants, a number of US technology companies, such as Facebook and Amazon, have recently received information from French tax authorities requesting them to pay millions of euros in digital taxes for 2020. This reportedly angered the US government.
Western Union, the world’s largest money transfer company, spent $200 million to acquire a 15% stake in the digital payment division of STC Group. Saudi Arabia’s largest telecommunications operator said in a statement on Saturday that the acquisition will provide the company with funds and support its long-term expansion plans.
The European Union warned that the UK has not taken enough action to overcome the three major obstacles facing a post-Brexit trade agreement. The leaders of Belgium, France, and the Netherlands urged greater efforts to prepare contingency plans in case an agreement is not reached.
Late last month, sports equipment company Under Armour announced it was cutting ties with some 2,000 retailers over the next two years. In doing so, Under Armour would focus on building up its direct-to-consumer business. Promo Marketing reported a more than 50% growth in Under Armour’s e-commerce business during the third quarter, with a 17% increase in direct-to-consumer sales.
The leaders of France and Belgium urged the EU to intensify its efforts to prepare for a no-deal Brexit by the end of the year, in case negotiations with the UK fail to achieve a breakthrough at the last minute. That’s according to two people familiar with the relevant discussions at the EU leaders video summit on Thursday.
A prominent Egyptian human rights organization said that security forces arrested a senior member on Wednesday. The arrest came three days after its administrative director was arrested on charges that include joining a terrorist group. The arrest on Monday came after senior diplomats visited the Egyptian Initiative for Personal Rights.
This year has been challenging shaping the trajectory around the world. The winner of the US presidential election will have vested interest in the US influence around the globe, including on the African continent. Currently, there is an attempt of the global geopolitical redistribution.
The French forces have claimed to have killed a militant who has been on the United Nations sanctions list. Bah Ag Moussa, was a top commander of the al-Qaeda linked militant group, Group to Support Islam and Muslim (GSIM). He is believed to be responsible for attacks on security forces in Mali.
Top European leaders on Tuesday engaged US president-Elect Joe Biden via phone calls to congratulate him on his electoral victory and wish him well. Among them were British Prime Minister Boris Johnson, President Emmanuel Macron of France, and German Chancellor Angela Merkel.
Israeli Prime Minister Benjamin Netanyahu discussed COVID-19 vaccines and other ways of ending the pandemic at a video conference with world leaders. The video conference was hosted by the Chancellor of Austria, Sebastian Kurz, with the participation of the Prime Ministers of Austria, Norway, Denmark, Greece and the Czech Republic.
On November 3rd, American citizens voted to elect the new President of the United States. The winner is Democrat Joe Biden, who has a long history in politics. Many major changes are coming to the US’ national and foreign policies in the new year. Furthermore, for the European Union, it will be a welcome change.
Egyptian President Abdel Fattah El-Sisi affirmed “the total rejection of terrorist acts in all their forms, and the refusal to link any religion to acts of violence and extremism, and not to prejudice religious symbols,” while French Foreign Minister Jean-Yves Le Drian stressed that his country respects and appreciates all religions, stressing that French Muslims are a part of France.
French President Emmanuel Macron announced on Thursday, November 5, 2020, that the number of France troops on it’s borders will be doubled to 4,800 people after a spate of Islamist attacks in France and Austria. In December, he will ask other EU leaders for an in-depth reform of the Schengen treaty.
Necessity is often the mother of investment. The Great Lockdown, itself made necessary by the coronavirus pandemic, has caused the disruption of many sectors of the economy, a tidal wave of business closings, and even the collapse of entire industries. However, as is often the case in economic downturns, it’s not all bad news.
Following the Democratic Party presidential candidate, Joe Biden’s resounding victory in the US presidential elections, a section of world leaders have already sent in their messages of goodwill while wishing him well as he assumes the reins of power of the world’s superpower.
The French government has announced a ban on and the disbanding of the Turkish nationalist group, the Gray Wolves, who are accused of hate speech and violence in France. Turkey’s response was swift, describing it as a “provocation.” Ankara furthermore promised a “firm response” to the moves by the French government.
Last week, French President Emmanuel Macron launched and “leaked” an offensive against the “Islamic order.” This offensive has a utilitarian and local character, and hardly at all pulled on a new “crusade” that the French public would not imagine. However, as usual, in such cases, the result gives way to pure politics.
Via the social media platform Twitter, Pope Francis expressed his “pain and dismay” over the Vienna terrorist attack, in which five lives were lost. He demanded an end to violence to build peace “together” in society, and to live without hatred. One of the suspects of the attack, a young man aged 20, was shot dead by police.
The president of France, Emmanuel Macron, joined world leaders in offering his condolences to Austria, following a terrorist attack in the capital, Vienna. Four people were killed in the attacks. France, on its part, has been rocked by a series of terrorist attacks in recent days.
Three suspects were arrested in connection with the Nice and Lyon assassinations. The main suspect in the Nice assassination was seriously injured and is yet to be questioned, but six people have been arrested in connection with the case. Another has been arrested in connection with an attack on a priest in Lyon.
U.S. stock technology stocks suffered “Black Friday”. On Friday, Eastern Time, the three major US stock indexes closed down collectively. The Dow once fell more than 500 points. The Nasdaq’s biggest intraday drop exceeded 3%, and the late decline narrowed.
A protest by Indian Muslims at Bhopal’s Iqbal Maidan against French President Emmanuel Macron has caused a stir in Madhya Pradesh politics. Thousands of Muslims not only protested against France but also set fire to the flag of France during the protest on Thursday.
French authorities have detained a man suspected of having contacted the perpetrator of Thursday’s attack in Nice, France, which killed three people at a local Catholic church. As per preliminary investigations, the 47-year-old man is suspected of having kept in touch with the attacker, and was taken into police custody on Thursday night.
Quite a number of Arab countries, including Saudi Arabia, Egypt, Jordan, and the United Arab Emirates (UAE), have strongly condemned Thursday’s terror attack in a church in Nice, southern France, and disassociated it from the values of Islam. Each country put out a statement through their Ministries of Foreign Affairs.
On Wednesday, the U.S. Census Bureau released a preliminary report on data pertaining to wholesale inventory for the month of September. Wholesale inventory in the United States was shown to have decreased by 0.1% in September. This is compared to a 0.3% increase in August, which itself was revised from 0.4%.
U.S. President Donald Trump on Thursday expressed his support for his French counterpart, Emmanuel Macron’s tough stance against radical Islam and his crackdown on Islamist terrorists. Through his social networks, President Trump expressed his support for France and stressed that such attacks should be halted “immediately.”
France suffered yet another terror attack on Thursday in the southern city of Nice. An alleged Islamist terrorist killed three with a knife in the Notre-Dame Basilica. In addition, in what has left many utterly terrified, one of the victims, a 70-year old woman, was beheaded inside the church.
France “will never renounce its principles and values,” in regard to its recent tough stance on Muslims, despite what it terms as “attempts at destabilization and intimidation” by Turkey. This has been said Wednesday by the spokesman for the Franch president, Gabriel Attal, who also underscored “a strong European unity.”
Mali has begun trial for suspects accused of an attack on a luxury nightclub in Bamako. The two are said to be members of the Islamic State, an active militant group in the country. In March, a French citizen, a Belgian, and three Malians were killed in an attack at La Terrasse, a restaurant and a night club.
Following the Coronavirus epidemic, Turkey’s currency has depreciated by a record amount against the dollar due to Turkey’s dispute with its NATO allies. In a recent speech, Turkish President Recep Tayyip Erdogan forged bitter relations with several other countries, including France and the United States.
Dissatisfied with French President Emmanuel Macron’s statement on Muslims and Islam, some Arab countries have begun to boycott French goods. The French Ministry of Foreign Affairs issued an appeal to stop the boycott, and President Macron has also responded.
The President of Turkey, Recep Tayyip Erdogan, implored the citizens of his country Monday not to buy products from France. His remarks came in retaliation for the strong position taken by France against Islamic groups, following the beheading of one of its teachers by a radical Muslim young man.
The Austrian Chancellor, Sebastian Kurz, and the European Union’s Minister of Foreign Affairs, Josep Borrell, have strongly condemned the insults of Turkish President Recep Tayyip Erdogan, aimed his French counterpart, Emmanuel Macron. On his part, the Chancellor made his thoughts known on Twitter.
Turkey made an official statement pertaining the refusal of the contract termination with Russia. The S-400 anti aircraft systems will be supplied to Turkey. It has been in service with the Russian Armed Forces since 2007. The announcement came directly from the president of Turkey Recep Tayyip Erdogan.
In separate meetings with his Azeri and Armenian counterparts, US Secretary of State Mike Pompeo called for an end to the war in Nagorno-Karabakh. Azerbaijan has stated that it is ready to resume political talks after the occupation of Nagorno-Karabakh by Armenia.
Armenia has accused Azerbaijan of violating the ceasefire just minutes after it took effect in the disputed Nagorno-Karabakh region. The ceasefire was agreed upon at midnight local time on Saturday. A spokesman for Armenia’s defense ministry said Azerbaijan had violated the ceasefire by firing artillery shells and rockets just four minutes after it took effect.
The police have not disclosed the identity of the suspect. According to the “Parisian”, the attacker was an 18-year-old man with a Chechen background, born in Moscow. When committing the crime, he was carrying a knife and an air gun, and he shouted “Allahu Akbar” when he committed the crime.
According to the World Health Organization (WHO), there are currently more than 7.2 million cases of new coronavirus across Europe, and the number of hospitalizations is increasing at an alarming rate. European stock markets fell across the board.There were more than 30,000 new confirmed cases in France in a single day on Thursday.
Earlier this week, Reuters reported that Japanese wholesale prices fell by 0.8% in September, marking the seventh consecutive month of year-on-year declines. Prices also declined by 0.2% as compared to August, the first on-month decline in Japan in four months. Their data was courtesy of the Bank of Japan (BOJ).
After the poison attack on Kremlin critic Alexei Navalny, the European Union is launching new sanctions on Russia. The foreign ministers of the EU countries agreed on Monday at a meeting in Luxembourg to begin the necessary preparations. In addition to travel restrictions for certain people, these could also include economic sanctions, for example.
India’s GDP has just dropped by a whopping 24% in the last quarter, one of the biggest drops globally. The core reason for this significant decline was that India had one of the strictest COVID 19 economic lockdowns in the world.
This greatly and negatively affected the livelihoods of millions of Indians. So what can Indians do to repair their economy and increase lost incomes for their millions of citizens? A study has shown almost all countries need to grow and establish new Global Value Chains (GVC). Almost nothing has been proven better to raise incomes and reduce poverty, while requiring very little government involvement or costs.
Many industries and sectors across the global economy have greatly suffered as a result of the coronavirus pandemic and the associated recession caused by the Great Lockdown. Demand for some goods and services has simply collapsed, while in other areas, the means of distributing them to retailers or consumers has been severed or greatly disrupted.