The World in Brief from The Economist
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Donald Trump, who faces possible arrest by Manhattan prosecutors, was due to address supporters at a rally on Saturday night in Waco, Texas. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Paul Rusesabagina, whose life inspired the film “Hotel Rwanda”, will be released from prison on Saturday, according to the country’s government * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Shou Zi Chew, TikTok’s boss, testified before a committee of America’s House of Representatives. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The Federal Reserve raised its benchmark interest rate by a quarter-percentage point, bringing it to a range of 4.75%-5%. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
As two days of bilateral talks drew to a close, Xi Jinping, China’s president, and his Russian counterpart, Vladimir Putin, committed to greater economic cooperation. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
France’s government survived two no-confidence votes, ensuring that President Emmanuel Macron’s controversial pension reforms will become law. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Following a weekend of fraught negotiations UBS, a bank, bought Credit Suisse, its troubled rival, in a SFr3bn ($3.25bn) deal brokered by the Swiss government. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Turkey’s president, Recep Tayyip Erdogan, said Russia and Ukraine had renewed a deal to export grain through the Black Sea. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Joe Biden, America’s president, asked Congress to expand regulators’ power to claw back compensation and capital gains from executives of failed banks * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
A coalition of big American banks said they will deposit $30bn into First Republic Bank, a mid-sized lender, to shore it up. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Switzerland’s central bank said it would provide liquidity to Credit Suisse “if necessary” after its share price plunged by 24%. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Several big private-equity firms—including Apollo, Blackstone and KKR—are reportedly considering acquiring pieces of Silicon Valley Bank’s loan book. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
America’s Federal Deposit Insurance Corporation will once more try to find a buyer for Silicon Valley Bank after the first auction got no takers acceptable to regulators. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Signature Bank, a New York-based lender, became the second financial institution to be shut down by American regulators after the collapse of Silicon Valley Bank on Friday. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The collapse of Silicon Valley Bank, an American tech-focused lender, plunged startups into uncertainty globally. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Britain will give France £480m ($577m) over the next three years to tackle the small-boat crisis * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
President Joe Biden proposed a budget that would raise annual spending from about $6.3trn, or 25% of GDP, to $6.9trn in the next fiscal year. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Jens Stoltenberg, NATO’s secretary-general, warned that Bakhmut, an eastern Ukrainian town that Russia has sought to capture for several months, may fall in the coming days. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Jerome Powell, chairman of America’s Federal Reserve, said interest rates will likely have to be raised “higher than previously anticipated”. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Intense fighting continued around Bakhmut, an eastern Ukrainian city that Russia has sought to capture for almost nine months. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Protesters in Greece clashed with police during demonstrations in Athens over a train crash on Tuesday which killed at least 57 people. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
China set a GDP growth target of "around 5%", its lowest such target in more than 25 years * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Alex Murdaugh, an ex-lawyer from South Carolina convicted of killing his wife and son, was sentenced to life in prison * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Antony Blinken, America’s secretary of state, met his Russian counterpart Sergei Lavrov for the first time since Russia’s invasion of Ukraine. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Kostas Karamanlis, Greece’s transport minister, resigned after a passenger train carrying around 350 people collided with a freight train killing at least 38 and injuring more than 85. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Nigeria's opposition parties rejected the result of last week’s presidential election, calling for a fresh vote to be held. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Rishi Sunak, Britain’s prime minister, and Ursula von der Leyen, president of the European Commission, struck a deal on reforming Northern Ireland’s post-Brexit trading arrangements. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Downing Street announced that Rishi Sunak would meet Ursula von der Leyen on Monday. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
China refused to endorse a statement condemning Russia’s invasion of Ukraine at a meeting of G20 finance ministers. Instead India, the group’s current president, released a summary document saying “most” members believed the war was causing “immense human suffering”. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Germany’s economy shrank by 0.4% in the last three months of 2022, a larger-than-expected drop caused by falling consumption and reduced capital investment * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
