News

News Briefing – 12/10/20

We’ve summarised the 15 key stories of the last week into an easily digestible briefing so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week.

Politics

  1. After returning to the White House from hospital on Monday, President Trump held his first rally on Saturday. It took place at the White House, breaking long-standing convention and possibly federal law according to ethics experts.
  2. A tentative ceasefire regarding the conflict over the disputed Nagorno-Karabakh region between Armenia and Azerbaijan was agreed during talks on Friday in Moscow. However, both sides have accused the other of continuing shelling since the truce was agreed, raising fears that the conflict may resume.
  3. Kamala Harris and Mike Pence took part in the Vice Presidential Debate on Wednesday. An altogether calmer affair than the heated Presidential Debate a week earlier, it took place just a day before Trump announced that he wouldn’t take in the virtual debate scheduled for 15th October.
  4. New local lockdown measures are likely to be announced this week as new cases crossed 15,000 on Saturday. Hospitals are now treating more than 3000 patients and Scotland announced the closure of pubs and restaurants in Covid hotspots, raising pressure on the government to act.
  5. North Korea has held a massive military parade on the 75th anniversary of the foundation of the ruling Workers’ Party. During the event four missiles were exhibited, which, according to intelligence analysts, appear to be intercontinental ballistic missiles that could strike America.
  6. The UN World Food Program has won the Nobel Peace Prize for its work in combatting hunger and stopping its use as a tool in war. Other front runners for the prize included the World Health Organisation and Greta Thunberg, as well as Donald Trump, who was controversially nominated for his role in the Israel-Bahrain-UAE peace agreement.
  7. The leaders of the neo-Nazi Golden Dawn group in Greece have been found guilty of running a criminal organisation after a five year long trial. After winning 7% of the vote in 2012, supporters of the party attacked political opponents, culminating in the 2013 murder of an anti-fascist musician.
  8. The Test and Trace fiasco unravelled further this week as it was revealed that almost 50,000 close contacts may not have been contacted by contact tracers. The news came as Allegra Stratton was announced as the spokesperson for the new televised press briefings from Downing Street.

Business & Economics

  1. Rishi Sunak has announced a new furlough scheme, targeted at those in the hospitality industry who work in Covid hotspots. Those who cannot work as a result of local lockdown restrictions will be able to receive up to two-thirds of their normal salary, with a cap at £2100 per month.
  2. Netflix plans to increase its office space in London to 100,000 square feet after it signed a deal with Capita. The news comes as Netflix looks to expand rapidly in the UK, building on the success of programs such as The Crown and After Life.
  3. Premier Oil has agreed a rescue deal with Chrysaor that will merge the two companies to form the biggest oil and gas producer in the North Sea. The deal will wipe out £2.3 billion in debt but leave investors in Premier Oil with only 5% of the company.
  4. The Energy Minister, Kwasi Kwarteng, confirmed that the Government was considering taking equity stakes in new nuclear power stations such as Sizewell C. New financing methods for nuclear power stations are being explored after the criticism of the contract for Hinkley Point.
  5. US stimulus talks have continued this week without agreement. Earlier in the week, Trump said there would be no further talks on a Covid-19 relief bill until after the election, but since then the White House has offered a $1.8 trillion package. This is likely to be rejected by the Democrats in Congress, as it is significantly lower than the $2.2 trillion they would like.
  6. Boris Johnson announced his plan to Build Back Greener this week. The plan involves £160 million spent on improvements to ports and other infrastructure that will allow the UK to become a world leader in offshore wind power. This plan will create up to 60,000 jobs by 2030 and is part of a drive to accelerate progress towards net zero emissions by 2050
  7. LSE has agreed to sell Borsa Italiana, which owns the Milan Stock Exchange, to Euronext for €4.3 billion. The move is part of a plan by LSE to secure regulatory approval for the $27 billion takeover of Refinitiv.

Written by Milo Dennison and Ed Hilditch

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