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Global News Roundup

October 25, 2024


This Week’s Issue

Hong Kong: Autonomy under pressure

The Basic Law that has served as a de facto constitution for Hong Kong since its transfer from Br…

Israel strikes Gaza and Lebanon as ceasefire talks expected this weekend. UN peacekeepers stationed at a permanent observation post near Dhayra in southern Lebanon came under fire from Israeli Defense Forces (IDF) soldiers on Tuesday, the United Nations Interim Force in Lebanon (UNIFIL) said in a statement on Friday. (CNN)

More US-based companies to shift supply chain operations into Americas. Over the next two years, the percentage of U.S.-serving supply chains located in North and South America will rise to 69% from 59%, according to the findings of a KPMG survey of 250 U.S.-based executives from companies with annual revenues of $1 billion or more. (Supply Chain Dive)

Striking Boeing workers reject 35% pay rise offer. Striking Boeing workers have rejected a new offer from the plane-making giant, which included a 35% pay rise over four years. The International Association of Machinists and Aerospace Workers (IAM) union said 64% of its members voted against the proposed deal. More than 30,000 of Boeing’s employees have joined the walkout, which started on 13 September, after an initial offer was rejected. (BBC)

Five killed, 22 injured in terror attack on Turkish aerospace company. Armed assailants launched a deadly “terror” attack on Turkey’s state-run aerospace company near the capital Ankara on Wednesday, government officials said. At least five people were killed and 22 injured in the “terrorist attack” on the Turkish Aerospace Industries (TUSAS) headquarters in the outskirts of Ankara, said Interior Minister Ali Yerlikaya. Two attackers – a man and a woman – were killed, he added. (CNN)

Global public debt will hit $100 trillion by year-end, says IMF. The International Monetary Fund warned Wednesday that the public debt situation worldwide could be more dire than most think, highlighting skyrocketing fiscal deficits in the U.S. and China. Global public debt will rise above $100 trillion by the end of 2024, the agency projected in its annual Fiscal Monitor report. By the end of the decade, the IMF forecasts global public debt will reach 100% of world GDP. (CNBC)

US, China trade tariffs escalating would be ‘costly for everybody,’ IMF deputy director says. An escalation of trade and tariffs tensions between the U.S. and China would have “costly” economic consequences around the world, Gita Gopinath, deputy managing director of the International Monetary Fund told CNBC on Wednesday. (CNBC)

Ship owner in Baltimore bridge collapse agrees to pay $102 million for cleanup. The owner and manager of the cargo ship that caused the deadly Baltimore bridge collapse have agreed to pay more than $102 million in cleanup costs to settle a lawsuit brought by the Justice Department, officials said Thursday. (AP)

Russia’s central bank raises interest rate to 21% to fight inflation boosted by military spending. Russia’s central bank on Friday raised its key interest rate by two percentage points to a record-high 21% in an effort to combat growing inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages. (AP)

India and China have struck a deal that could ease border tensions ahead of expected leader meeting. India and China have reached an agreement on military disengagement along their disputed border, New Delhi said, a step toward reducing frictions between the nuclear-armed neighbors that comes ahead of an expected meeting between the countries’ leaders on the sidelines of a summit in Russia. (CNN)

IMF warns world to avoid global trade war. The world economy could contract by the size of the combined French and German economies, if there is a broad-based trade war between the world’s major economies, the International Monetary Fund (IMF) has told the BBC. It comes as concerns are heightened ahead of the possible re-election of Donald Trump. (BBC)

Russia is deliberately attacking civilians in southern Ukraine with drones, residents say. In the city of Kherson, southern Ukraine, civilians have started to hope for heavy rain – the only weather conditions that prevent Russian drones from flying overhead, they say.Drone attacks on ordinary people living here have sharply increased since the beginning of fall, with residents reporting Russian drone attacks on pedestrians, cars, buses and even an ambulance, according to local officials. (CNN)

US to evacuate 20 embassy staff from Haiti following car attack and intensifying gang violence. Violence is intensifying in Haiti’s capital, Port-au-Prince, this week, which saw a United Nations helicopter hit by gunfire and two gangs apparently target U.S. embassy vehicles. (CNN)

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