Argentine economy minister has surprise win over populist, and they head toward presidential runoff: Economy Minister Sergio Massa produced a big surprise by finishing first in the opening round of Argentina’s presidential election, reflecting voters’ wariness about handing the presidency to his chief rival, a right-wing populist who upended national politics and pledged to drastically diminish the state. Massa’s victory over Javier Milei, a chainsaw-wielding economist and freshman lawmaker, came despite the fact that on his watch inflation has surged into triple digits, eating away at purchasing power of salaries and boosting poverty. Still, he wasn’t punished in Sunday’s voting. With nearly all balots counted early Monday, Massa had 36.7% of the vote and Milei had 30%, meaning the two will go to a Nov. 19 runoff.
China’s Lithium-Triangle Inroads Show US Challenges in EV Race: China’s latest investments in South America’s lithium triangle show the challenges for US efforts to counter the dominance of the world’s second-largest economy in key parts of battery metal supply chains. China has secured deals with Argentina, Bolivia and Chile to access their vast reserves of lithium, a key ingredient for electric vehicle batteries. The US has lagged behind in securing its own sources of lithium, relying mostly on imports from Australia and Canada.
US and China agree to cooperate on climate change after talks in Rome: The US and China have announced a joint statement on climate change, pledging to work together to tackle the global challenge. The statement was issued after talks between US climate envoy John Kerry and his Chinese counterpart Xie Zhenhua in Rome, ahead of the COP26 summit in Glasgow. The two sides agreed to enhance their actions and cooperation in areas such as reducing emissions, promoting clean energy, and supporting developing countries.
Colombia’s ex-president Uribe faces new charges of witness tampering: Colombia’s former president Alvaro Uribe has been charged with witness tampering and bribery by the country’s supreme court. The court said Uribe allegedly tried to influence former paramilitary members to retract accusations against him. Uribe, who was president from 2002 to 2010, has denied any wrongdoing and said he is a victim of political persecution. He is currently under house arrest pending trial.
Nigeria bans Twitter indefinitely after president’s tweet deleted: Nigeria has suspended Twitter indefinitely after the social media platform deleted a tweet by President Muhammadu Buhari that threatened to punish secessionists in the southeast. The government accused Twitter of undermining Nigeria’s corporate existence and violating its national security. Twitter said it was deeply concerned by the ban and would work to restore access for Nigerians. The move has sparked criticism from human rights groups, activists, and opposition parties.
China’s special envoy to the Middle East, Zhai Jun, has embarked on a whirlwind tour of the region aimed at promoting peace talks between Israel and Hamas – even though Beijing still refuses to condemn or even name the Palestinian militant group in any of its statements. Zhai met with Egyptian President Abdel Fattah el-Sisi in Cairo on Saturday, and is expected to visit Israel, Palestine, Jordan, Saudi Arabia, and Iran in the coming days. China has expressed its support for a two-state solution and a ceasefire, but has also criticized the US for its biased role and its veto power in the UN Security Council
Oil prices rose above $91 a barrel Monday as diplomatic efforts to address the crisis in the Middle East intensified, but slipped back later in the day, falling below $90 on reports that that US was nearing a deal to ease sanctions on Venezuela. The US and its allies have been trying to persuade Iran to return to the 2015 nuclear deal, which would lift some of the sanctions that have crippled its oil exports. However, Iran has demanded that all sanctions be removed before it resumes compliance with the deal. The tensions have raised fears of a disruption in oil supply from the region2.
European shares fell on Monday, as the Israel-Hamas war kept investors on edge at the start of a week packed with key data releases, earnings reports and the European Central Bank’s (ECB) policy meeting. The pan-European STOXX 600 index dropped 0.7%, with travel and leisure stocks leading the losses. The escalating violence in the Middle East has dampened market sentiment and increased volatility. Investors are also awaiting inflation data from the euro zone and the UK, as well as corporate earnings from major companies such as Apple, Tesla, and Amazon3.
Hormel Foods has announced that it has donated 100,000 meals for World Food Day thanks to an employee effort based around being physically active. For every mile team members walked, ran, biked or swam, the company pledged to donate meals to the World Food Program USA Erase Hunger campaign, which works with the United Nations to provide school meals to children around the world. The company said it was proud of its employees for their commitment to fighting hunger and improving health4.
China’s latest investments in South America’s lithium triangle show the challenges for US efforts to counter the dominance of the world’s second-largest economy in key parts of battery metal supply chains. China has secured deals with Argentina, Bolivia and Chile to access their vast reserves of lithium, a key ingredient for electric vehicle batteries. The US has lagged behind in securing its own sources of lithium, relying mostly on imports from Australia and Canada5.
Australia’s PM Scott Morrison says he will attend COP26 climate summit: Australia’s Prime Minister Scott Morrison has confirmed he will attend the COP26 climate summit in Glasgow, ending weeks of speculation about his attendance. He also said he would announce a new emissions reduction target before the summit, but did not give any details. Australia is one of the world’s biggest coal exporters and has been under pressure to commit to net zero emissions by 2050.
Brazil’s Bolsonaro faces backlash over vaccine passport comments: Brazil’s President Jair Bolsonaro has sparked outrage after he said he would not accept a vaccine passport as a condition to travel abroad. He said he would rather “die of hunger” than be forced to get vaccinated or show proof of vaccination. His comments come as Brazil struggles to contain the Covid-19 pandemic, which has killed more than 600,000 people in the country. Many countries have imposed vaccine requirements for travelers to prevent the spread of the virus.
China’s Xi Jinping warns against ‘interference’ in Taiwan: China’s President Xi Jinping has warned against any “interference” in Taiwan, saying that Beijing will never allow the island to become independent. He made the remarks during a speech marking the 110th anniversary of the 1911 revolution that ended imperial rule in China. He said that China was committed to peaceful reunification with Taiwan, but would not tolerate any attempts to separate it from the mainland. Taiwan is a self-governing island that China claims as its own territory.
France recalls ambassadors from US and Australia over submarine deal: France has recalled its ambassadors from the US and Australia for consultations, in an unprecedented diplomatic protest over a new security pact between the two countries and the UK. The pact, known as AUKUS, will see Australia cancel a multi-billion-dollar contract with France to buy submarines, and instead acquire nuclear-powered submarines from the US with British technology. France said it was a “stab in the back” and a “breach of trust”.
India’s Modi launches health insurance for 500 million people: India’s Prime Minister Narendra Modi has launched a health insurance scheme that aims to cover 500 million people, or 40% of the population. The scheme, called Ayushman Bharat, or Healthy India, will provide free health care for poor and vulnerable families, up to a limit of 500,000 rupees ($6,800) per year. Modi said the scheme was a “game-changer” and a “revolution” in health care. India has one of the lowest public spending on health care in the world, and millions of people are pushed into poverty by medical bills.
