USA - A key stress gauge of global credit has surged to levels not seen since the financial crisis in 2009, prompting worries that US monetary tightening has begun to bite in earnest. The closely-watched "Libor-OIS spread" in dollar funding markets has doubled since January to 51.4 basis points, higher than during the eurozone sovereign debt drama six years ago. As US companies repatriate some of their offshore $2.5 trillion (£1.8 trillion) stash of funds following Donald Trump’s tax reform, they are draining the pool of dollars available for global lending in the City or Asian hubs. This turns down the spigot of dollar credit that lubricates international finance and funds emerging markets.
UK - Access to clean, safe drinking water is seen as one of the most important ways to improve a nation’s health but a report shows that for nearly a billion people, this is far from reality. The charity Water Aid estimates that around 844 million people around the world have to make at least a 30-minute round trip to get clean, safe water or are forced to drink from unprotected sources or directly from rivers or lakes, almost certainly risking their health.
USA - It wasn’t supposed to happen this way. After the Soviet Union’s collapse in 1991, democracy was supposed to be irresistible. While some of us were more skeptical than others, even cynics allowed that freedom seemed to have the upper hand. Instead, barely a quarter-century along, democracy and political freedoms are newly embattled, as one society after another defaults to reborn tyranny, striding behind religious extremism, xenophobic nationalism — or both.
USA - US President Donald Trump said he will meet his Russian counterpart Vladimir Putin in the not too distant future to discuss an arms race that Trump called “out of control.” He also congratulated Putin on his election victory. “We will be meeting in the not too distant future to discuss the arms race which is getting out of control,” Trump said, expanding on the content of the phone call with Putin on Tuesday.
MIDDLE EAST - The Hamas terror group has accused Palestinian Authority (PA) President Mahmoud Abbas of seeking to undermine Palestinian unity, following his decision announced on Monday to impose sanctions on the Gaza Strip for the attempted assassination of Rami Hamdallah.
UK - Advertisers threatened to abandon Facebook last night as Mark Zuckerberg apologised for mistakes it made over the Cambridge Analytica scandal. Mr Zuckerberg, co-founder and chief executive of the US technology giant, broke his silence to head off a revolt among users and financial backers. He described the incident as a “major breach of trust” and said he was open to further regulation of the website. ISBA, a British group of advertisers that spend hundreds of millions of pounds a year on Facebook, demanded answers. It is understood that some of its 3,000 brands, which include those of the consumer goods companies Unilever and P&G, will not tolerate association with Facebook if it emerges that users’ data has found its way into the hands of brokers…
USA - Obama campaign director reveals Facebook ALLOWED them to mine American users' profiles in 2012 because they were supportive of the Democrats. Carol Davidsen, who worked as the media director at Obama for America, claimed Obama campaign mined millions of people's information from Facebook. She said that Facebook was surprised at the ease with which they were able to 'suck out the whole social graph'.
USA - Hundreds of millions of Facebook users are likely to have had their private information harvested by companies that exploited the same terms as the firm that collected data and passed it on to Cambridge Analytica, according to a new whistleblower.
USA - The new normal for investigative technique is “Follow the data, follow the power.” Like the world of money, the data world is cutthroat and secretive. From its stance on extremist content, to its vast caches of user data, Facebook is a corporation whose power must, finally, be reined in.
UK - The backlash against Facebook over its handling of personal data has seen a co-founder of WhatsApp appear to back calls for users to delete their profiles. Brian Acton tweeted: “It is time. #deletefacebook” as the hashtag trended amid growing outrage over the social media giant's links to controversial British data firm Cambridge Analytica (CA). Along with WhatsApp co-founder Jan Koum, Mr Acton sold the app to Facebook for £11.4 billion ($19 billion) in 2014. The entrepreneur's apparent advocacy for people to remove their profiles came as Facebook faced pressure to explain its privacy safeguards from regulators and politicians in the US and UK. Cambridge Analytica was suspended from the social media giant last week after it emerged that data on 50 million users had not been destroyed as agreed.
USA - Facebook chief executive Mark Zuckerberg said on Wednesday that he’s open to having his company be regulated. “Actually, I’m not sure we shouldn’t be regulated,” Zuckerberg said in an interview with CNN that represented some of his first public remarks since the Cambridge Analytica controversy plunged his company into crisis and led to calls for his testimony to Congress.
EUROPE - A predictable process of disintegration across the European union is underway. It has now gained momentum not only from the elections in Italy where more than two-thirds voted against open borders refugee policies pushed by Brussels. And it comes not only from Austria or the East states such as Hungary and Poland or the new Austrian government. Now opposition to the Berlin-Paris-Brussels “centralist” axis is coming from Holland and a group of northern EU countries.
NIGERIA - The 1960 street map of Lagos, Nigeria, shows a small western-style coastal city surrounded by a few semi-rural African villages. Paved roads quickly turn to dirt, and fields to forest. There are few buildings over six floors high and not many cars.
SOUTH AFRICA - Head of the Commission for the Promotion and Protection of Cultural, Religious and Linguistic Communities (CRL Rights Commission) Thoko Mkhwanazi-Xaluva says religion, particularly Christianity, in South Africa is in a state of emergency.
USA - In 2010, it was found that roughly 100,000 Americans die each year from prescription drugs alone. When it comes to opioids, the number of deaths is in the tens of thousands while a quarter of patients who were given a short-term prescription transitioned to long-term use.