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☆ CNBC's Inside India newsletter: How will the next Trump administration impact India?
▼ + stars: | 2024-11-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

Global trade changed considerably over the past four years — benefiting India — as President Joe Biden retained much of Trump's tariffs on China. EnergyOn the one hand, analysts expect Indian interests to be aligned with those of the United States regarding oil prices . Trump's previous term in office, whether intentionally or coincidently, saw moderate to low oil prices. As India imports over 90% of its oil needs, New Delhi will likely welcome any move by the U.S. to keep oil prices low. A quick resolution of the war in Ukraine — Trump's campaign promise — would also prove to be negative for oil prices.

Persons: Narendra Modi, Donald Trump, Narendra Modi's, Joe Biden, Macquarie, Aditya Suresh, Trump, Uncle Sam, Samiran Chakraborty, Baqar Zaidi, Ukraine —, —, Sanjeev Prasad Organizations: India's, U.S, Manufacturing, Global, Observer Research Foundation, Treasury, Indian, Citi, Companies, Tata Consultancy Services, HCL Tech, Infosys, Energy, Suzlon Locations: Hyderabad, New Delhi, India, China, U.S, Mumbai, United States, Ukraine

☆ Market-making giant Citadel Securities is rebuilding the tech that powers its trades as it eyes growth
▼ + stars: | 2024-10-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Ken Griffin's market maker, Citadel Securities, is revamping its core trading infrastructure. AdvertisementIn 2023, Citadel Securities COO of technology, Jeff Maurone, was meeting with senior leaders to discuss technology priorities for the year. I almost look at it as the stretching of business," Woods told Business Insider. Building Citadel Securities' trading infrastructure of the futureIn the last few years, Citadel Securities pushed into credit trading, expanded its rates franchise, and introduced an institutional options offering. Maurone's team supports Citadel Securities' technology organization, and he manages a team of 15 people.

Persons: Ken Griffin's, Josh Woods, Jeff Maurone, —, Maurone, Woods, Matt Culek, Peng Zhao, Jim Esposito Organizations: Citadel Securities, Service, Securities, McKinsey, Deloitte, COOs, Citadel Securities Each Locations: Asia Pacific, EMEA, COOs —, New York, Jeff's

☆ Warner Bros. Discovery signals rapid deterioration of television business, sending stock plummeting
▼ + stars: | 2024-08-08 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

It’s a reflection of how quickly the traditional television business is deteriorating and imperiling companies such as WBD, which rely on linear channels for the bulk of their revenue. The one bright spot in the legacy television business has been live sports programming, which continues to draw high viewership even as cable cancelations mount. To be fair, WBD is not the only once-high flying legacy media behemoth struggling to find its footing in a shifting landscape upended by the Netflixrevolution. Speaking candidly to investors on the company’s earnings call Wednesday, Zaslav acknowledged the dire reality of the television business. “It’s fair to say that even two years ago, market valuations and prevailing conditions for legacy media companies were quite different than they are today,” Zaslav said.

Persons: New York CNN — David Zaslav, WBD, ” WBD, Shari Redstone, David Ellison’s Skydance, Zaslav, “, ” Zaslav, Gunnar Wiedenfels, ” Wiedenfels, we’ve, shouldn’t Organizations: New, New York CNN, Warner Bros, Discovery, CNN, HGTV, TNT, TBS, NBA, . Paramount Global Locations: New York, U.S

☆ Kamala Harris has earned enough votes to win the Democratic presidential nomination, party chair announces
▼ + stars: | 2024-08-02 | by ( Ethan Cohen | Arit John | ) edition.cnn.com time to read: +3 min

CNN —Vice President Kamala Harris has won enough votes from Democratic delegates to win the party’s nomination for president, Democratic National Committee Chair Jaime Harrison announced Friday. Delegates began casting virtual ballots for the nomination Thursday, a process that will continue until Monday evening. “I am honored to be the presumptive Democratic nominee for president of the United States,” said Harris, who joined the virtual event. It’s been clear since shortly after President Joe Biden ended his reelection campaign and endorsed Harris that the vice president would be the only serious candidate for the nomination. Though voting for the Democratic nomination began and will possibly conclude before Harris announces her running mate, party rules don’t require a separate vote to confirm the nominee for vice president.

Persons: Kamala Harris, Jaime Harrison, Harris, “, ”, It’s, Joe Biden, Biden, Donald Trump’s, Tim Walz, Josh Shapiro, Arizona Sen, Mark Kelly, Andy Beshear, Pete Buttigieg, JB Pritzker, Samantha Waldenberg, Jamie Gangel Organizations: CNN, Democratic, Republican, Minnesota Gov, Kentucky Gov, Illinois Gov Locations: American, United States, Chicago, Iowa, Pennsylvania, Arizona, Kentucky, Philadelphia

☆ Darren Walker, Who Reoriented the Ford Foundation, to Step Down
▼ + stars: | 2024-07-22 | by ( Robin Pogrebin | ) www.nytimes.com time to read: +1 min

Darren Walker, the president of the Ford Foundation, one of the nation’s largest and most influential philanthropies, recently recalled the day his assistant excitedly told him that President Barack Obama wanted to meet him. He gently corrected her. “I said that President Obama wants to meet with the president of the Ford Foundation — he isn’t interested in meeting with Darren Walker,” he said. “It’s important to have that clarity so that when the day comes that you’re no longer president of the Ford Foundation, you can still find joy and happiness and satisfaction.”For Mr. Walker, who turns 65 next month, that day will soon arrive. He announced Monday that he would step down as the president of the Ford Foundation at the end of 2025 after what will have been a consequential 12-year tenure in which he shifted the institution’s focus to inequality and oversaw the distribution of $7 billion in grants.

Persons: Darren Walker, Barack Obama, “, Obama, ”, Walker Organizations: Ford Foundation, Ford, Detroit Institute of the Arts Locations: Detroit

☆ 'Pronatalist' parents are under fire after the dad publicly slapped his toddler — and they think the criticism is racist
▼ + stars: | 2024-05-27 | by ( Katie Balevic | ) www.businessinsider.com time to read: +5 min

And I think if somebody doesn't fix the problem, we could be gone," Malcolm Collins previously told BI in 2022. Malcolm Collins resumed his conversation with the stunned reporter after telling his child: "I love you but you gotta be nice in restaurants. Related storiesSoon afterward, the episode went viral on X — the platform owned by Elon Musk, whom Malcolm Collins was incidentally gushing over moments before striking his toddler. This is all to say that yes, 100%, Torsten was pushing boundaries and not acting unintentionally," Simone Collins wrote. AdvertisementOver the phone, Malcolm Collins told Business Insider that he "bopped" his son on the nose to jar him, not to hurt him.

Persons: Malcolm, Simone Collins, Malcolm Collins, Jenny Kleeman, Elon Musk, Christ, Torsten Savage, Torsten Organizations: Service, Business, Guardian, Elon, CNN Locations: Pennsylvania

☆ Tailored dog food supplier Tails.com is planning to cut up to 55 roles, leaked documents show
▼ + stars: | 2024-02-20 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Tails.com, a dog-food supplier owned by Nestlé Purina PetCare, is planning to cut up to 55 roles, Business Insider has learned. In January, the company announced internally that it planned to commence a round of layoffs that could affect up to 55 staffers in the UK, per documents seen by BI. Per UK employment law, the company is required to offer a statutory redundancy package to those affected by the layoffs. While the company documents acknowledged that it had hired 22 new roles in the past six months, they also said hiring for any non-critical business roles had been paused since November 2023. Unlike previous rounds of layoffs, these ones are happening while many tech companies are producing good financial results .

Persons: Nestlé Purina, PetCare, Tails.com, ‘ we’re, Nestlé, “ Organizations: Octopus Ventures, Nestlé, Business, BI, Tech, Microsoft, Google Locations: London

Dorsey-Hollins followed school guidelines and kept her home when she had a cough or a sore throat — or worse — until she was completely better. During the pandemic, schools urged parents and children to stay home at any sign of illness. Fort Worth Independent School District, where Dorsey-Hollins’ youngest daughter attends kindergarten, advises staying home if a child has a cough, sore throat or rash. Some schools in San Diego County seem unaware of California's new guidance allowing kids to attend school while mildly sick, said Tracy Schmidt, who oversees attendance for the county Office of Education. It gives her hope that as more schools and parents learn about this guidance, students will miss less school.

Persons: Trenace Dorsey, Hollins, Dorsey, “, ”, Hedy Chang, ” Chang, Hollins ’, can’t, Claire McCarthy, McCarthy, “ It’s, Malika Elwin, she’s, haven’t, who’ve, Noha Aboelata, Tracy Schmidt Organizations: The American Academy of Pediatrics, Fort Worth Independent School District, Austin Independent School District, Boston Children’s Hospital, Harvard Medical School, CDC, Boston Public Schools, Roots Community Health Center, of Education, Associated Press Locations: Fort Worth , Texas, California, Texas, New York City, Montgomery, Boston, Long, Oakland , California, San Diego County, AP.org

☆ Budget office projects Biden green energy plan will cost much more than initial estimate
▼ + stars: | 2024-02-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — The U.S. budget deficit will grow by an estimated $1 trillion over the next 10 years, the nonpartisan Congressional Budget Office projected in a new report Wednesday. "I came to office determined to ... face the existential threat of climate and still grow, to fundamentally change our economy, and to transition this country to a clean energy future," Biden said last October. Taken together, CBO estimates that the impact of new emissions standards, clean energy tax credits and falling gas tax revenue as people buy less gas, will add $25 billion to the budget deficit this year. "Those costs reflect new emissions standards, market developments, and actions taken by the administration to implement the tax provisions." The CBO also noted that there are still many unknowns about how green energy will impact the economy and the federal budget longer term.

Persons: WASHINGTON, Joe Biden's, Biden, Philip Swagel, EPA's Organizations: CBO, Environmental Protection Agency Locations: The, U.S

☆ Ukraine should forget about help from the West to fight Russia and focus on 'cheap' unmanned vehicles instead, says its army chief
▼ + stars: | 2024-02-02 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Read previewUkraine's military chief, Valerii Zaluzhnyi, said that the country must prepare for a decline in Western support in its war against Russia and instead win using unmanned vehicles and other technologies. While Russia has the advantage when it comes to brute force, Ukraine has often countered attacks using advanced and, at times, improvized tech solutions. He said that Ukraine must place its military on a new footing if it is to defeat Russia. Advertisement"Perhaps the number one priority here is mastery of an entire arsenal of (relatively) cheap, modern and highly effective, unmanned vehicles and other technological means," he said. He noted that Western support and supplies of key weapons from the West are running low.

Persons: —, Valerii Zaluzhnyi, Zaluzhnyi, Volodymyr Zelenskyy Organizations: Service, CNN, Business, Union, Technology, The New York Times Locations: Russia, Ukraine

☆ Why Trump’s hold on evangelicals is so hard for DeSantis and Haley to break
▼ + stars: | 2024-01-14 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +15 min

Beyond Trump’s strong overall lead, the survey showed the former president attracting 51% support from Iowa evangelicals, far more than he drew in 2016. But Trump won the state by capturing 44% of evangelicals without a degree, double his share among the South Carolina evangelicals with a degree. This year, DeSantis will likely need to shake Trump’s hold on evangelical voters if he is to finish well enough in Iowa to remain a viable candidate after Monday. Asked if DeSantis can win evangelicals in Iowa on Monday, Vander Plaats pointedly responded: “I think he’ll do very well.”Compared to DeSantis, Haley isn’t betting on evangelical voters nearly as heavily in Iowa. Even in the most optimistic scenario for DeSantis or Haley, Trump’s hold on evangelicals without a college degree looks like a rock in the road for them.

Persons: Donald Trump’s, –, Texas Sen, Ted Cruz, Ron DeSantis, Cruz, DeSantis, Trump, ”, Gary Bauer, Nikki Haley, Mike Huckabee, Rick Santorum, Huckabee, Santorum, John McCain, Mitt Romney, Romney, Gary Langer, Trump’s, “ There’s, ’ ”, Bob Vander Plaats, Vander Plaats, Haley isn’t, Rubio, Haley, Robert P, Jones –, “ Trump, ” Jones, Jones, “, ” Bauer, you’ve Organizations: CNN, Yorker, Trump, Texas, Florida Gov, GOP, Des Moines Register, NBC, South Carolina Gov, Republican, McCain, ABC News, Edison Research, –, Public Religion Research Institute, Survey, College, New York Times, The New York Times, Democrats Locations: Iowa, Florida, The Iowa, Nevada , Missouri , Alabama, Georgia , Tennessee, Virginia , Michigan , Mississippi, North Carolina, South Carolina, Carolina, New Hampshire, American, America

☆ With job cuts and drug tests, the Pentagon hopes to prepare its special-ops forces for a new era of warfare
▼ + stars: | 2023-11-21 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

US Navy/MCS 1st Class Anthony W. WalkerNaval Special Warfare Command announced in September that it would start testing its personnel, including Navy SEALs and Naval Special Warfare Combatant-Craft Crewmen, for performance-enhancing drugs. The initiative comes after several drug-related incidents in the Naval Special Warfare community and is designed to protect the force's health and readiness. Special Forces Assessment and Selection candidates carry a telephone pole during a ruck march at Camp Mackall in North Carolina in March 2020. The Navy Special Warfare Community has swelled to about 4,000 SEALS — 10 times as many as at the height of the Cold War. A US Special Forces soldier free falls over a drop zone in Germany in March 2015.

Persons: —, Anthony W, Keith Davids, Jason Johnston, Stavros Atlamazoglou Organizations: Pentagon, Service, US Navy, Walker, Warfare Command, Navy, Warfare, Craft, Navy SEAL, Special Forces, US Army, Special, Command, Army, 75th Ranger, Operations Command, US Special Forces, Hellenic Army, 575th Marine Battalion, Johns Hopkins University, Johns Hopkins School, International Studies, Boston College Law School Locations: Iraq, Afghanistan, Syria, Ukraine, Beijing, Asia, Pacific, Russia, China, Coronado , California, Mackall, North Carolina, Germany

If you want to be happy in life, especially as you age, "you have to look at other things besides dreams." Instead, it can mean reorienting yourself towards finding joy in small things, in what you can control and in wanting what you already have. But the work can pay off: Positivity is linked to a longer and healthier life. Small things delight her on a daily basis: Listening to books on tape, taking careful walks, old movies on TV, a scoop of ice cream after dinner. She reminds herself that "everyone has things that don't work out," and that what matters is resilience — being "capable of adjusting your thoughts and dreams."

Persons: Shirley Hodes, Hodes, who's, Ruth Sweedler, Hodes didn't, didn't, couldn't, doesn't Organizations: CNBC Locations: North Carolina

☆ Can stocks finish strong in 2023? Wall Street giants weigh in
▼ + stars: | 2023-09-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Global stocks notched their second-worst month of the year in August, with the MSCI broad aggregate of world indexes dropping 2.96%, according to LSEG data. This has carried into a tepid start to September trade, but Madison Faller, global investment strategist at JPMorgan Private Bank, said in a research note on Friday that 2023 can still finish strong. "While there are still things we don't know, the read from the key players — central banks, Wall Street, Main Street and the C-suite — suggests that the outlook feels brighter today than it did a year ago," Faller said. "With less worry about the near term, more firms are starting to focus on how they can continue growing in the long term. Technology stocks, particularly those with a heavy focus on AI, have driven a huge portion of the market's gains so far this year.

Persons: Madison Faller, Faller, haven't, Jerome Powell, Powell didn't, Goldman Sachs, it's, Peter Oppenheimer, we're, Tesla Organizations: NYSE, NYSE Stock, JPMorgan Private Bank, Federal Reserve, Fed, European Central Bank, Bank of England, Global Equity, CNBC, Nvidia, Facebook Locations: Wall, China, U.S

☆ Companies are shuffling people around more than they were a year ago. Here's how to know what your reassignment really means.
▼ + stars: | 2023-09-01 | by ( Madison Hoff | Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

Experts say a reassignment is often a good sign and may mean a company wants to keep you. Challenger told Insider that over the past few years, companies focused on reassigning workers internally because it was hard to find replacements amid the labor shortage. AdvertisementAdvertisement"It's usually a company saying, 'Hey, we don't have this role anymore, but we want to keep you,'" Challenger told Insider. "Just the act of reassignment does not signal that a company wants you gone," Julia Pollak, the chief economist at ZipRecruiter, told Insider. Yolanda M. Owens, a career coach who works with platforms like the Muse, told Insider by email that companies can also use reassignments to keep the power dynamics in their favor.

Persons: Andy Challenger, they've, Julia Pollak, Pollak, Yolanda M, Owens, Challenger, " Pollak Organizations: Service, Street Journal, Challenger, Research Locations: Wall, Silicon

☆ Opinion | Can Liberalism Save Itself?
▼ + stars: | 2023-08-26 | by ( Samuel Moyn | ) www.nytimes.com time to read: +3 min

Yet just a few years later, Cold War liberalism emerged as a rejection of the optimism that flourished before the mid-20th century’s crises. This was a liberalism of fear, as another Cold War liberal intellectual, the Harvard professor Judith Shklar, said. In a way, fear was understandable: Liberalism had enemies. The Cold War changed all that. “We must be aware of the dangers which lie in our most generous wishes,” the Columbia professor and Cold War liberal Lionel Trilling explained.

Persons: Isaiah Berlin, Judith Shklar, Robert Oppenheimer, ” Frustratingly, Alexis de Tocqueville, John Stuart Mill, Bernie Sanders, Lionel Trilling Organizations: Communist, Oxford, Communists Locations: China, Eastern Europe, overreact, America, Soviet Union, French, Columbia

The renewed discussion hasn’t done much to revive the prospects of Japan’s own Communist Party, however. Mr. Saito is not a fan of the group, which he sees as well-meaning but stale. And even in rich nations, he does not call for people to give up their creature comforts. He recently moved into a three-story home in an upscale neighborhood on the outskirts of Tokyo and drives a compact Toyota. Achieving degrowth communism, he believes, is less about personal choices and more about changing overarching political and economic structures.

Persons: Saito, Mahbub ul Haq Organizations: Communist Party, Chinese Communist Party, Toyota, United Nations Locations: Soviet Union, Tokyo, G.D.P

Playing a quiet but important role in shaping the governor's remarks was the Washington-based Heritage Foundation, America's top conservative think tank, according to two people with knowledge of their interactions. The range and frequency of those discussions with DeSantis' campaign have not been previously reported. In addition to Carmack, the policy director, at least seven other Heritage staffers have taken positions in the DeSantis campaign. Whether DeSantis' connection to the think tank has been helpful for his campaign is an open question. Following the controversial March 13 statement, Heritage officials had a suggestion for the campaign, according to one person with knowledge of the discussions.

Persons: Ron DeSantis, Kevin Roberts, Tucker Carlson, DeSantis, Donald Trump, Bryan Griffin, Heritage, Griffin, Generra Peck, Trump, Noah Weinrich, Weinrich, Roberts, Dustin Carmack, Carmack, Steve Bradbury, Bradbury, Joe Biden's, David Dewhirst, Gram Slattery, Ross Colvin, Daniel Flynn Organizations: Florida, The Heritage Foundation, Gaylord National Resort, Center, REUTERS, Sarah, Fox News, Heritage Foundation, Senior Heritage, Heritage, Republican, TALLAHASSEE, Mar, Trump, Justice Department, Department of Education, FBI, Department of Transportation, Democratic Party, Top Heritage, Economic, Reuters, Republican Party, Fox Nation, Thomson Locations: National Harbor, M.D, WASHINGTON, Florida, Ukraine, United States, Washington, U.S, Russia, China, Milwaukee, Tallahassee , Florida, Tallahassee

☆ How a record-setting 'Ugly Baby' mission allowed US special operators to outmaneuver Iraqi forces
▼ + stars: | 2023-06-29 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

US special-operations forces wanted to infiltrate northern Iraq to tied down Iraqi forces there. Operation Ugly BabyA map of the Ugly Baby mission route along Iraq's western border on March 22, 2003. US Green Berets in an MC-130H heading to Iraq during Operation Ugly Baby on March 22, 2003. A US special-operations aircraft that was forced land by enemy fire during Operation Ugly Baby in March 2003. In all, Task Force Viking numbered about 400 special operators, including elite Delta Force commandos, Green Berets from the 10th Special Forces Group, and frogmen from the UK's Special Boat Service.

Persons: —, Saddam Hussein, Elwell, JOSEPH BARRAK, Baby, Stavros Atlamazoglou Organizations: Service, Operation, US, Allies, US Army, Operation Iraqi, NATO, Turkish, Special Forces, Green Berets, Air, Special Operations Squadron, Detachment Alpha, Air Force, Task Force, US Army 173rd Airborne Brigade, Getty, Delta Force, 10th Special Forces Group, CIA, Republication Guard, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Iraq, Operation Iraqi, Baghdad, reorienting, Turkey, Kurdish, Turkish, Romania, Jordan, Syria, Erbil, AFP, Afghanistan, Al Qaeda, Johns

Bidenomics gets a rebootPresident Biden plans to double down on his economic record in a big campaign-style speech on Wednesday. Yet despite the good news, Mr. Biden hasn’t seen a big jump in his popularity, and he trails his Republican rivals, according to some polls. “Bidenomics” will be at the heart of the president’s message. “But it’s working.” The Donilon-Dunn memo tries to give the messaging around Bidenomics a reboot. They point to how, for example, the CHIPS Act, the Inflation Reduction Act and the infrastructure law are creating jobs in the high-tech, manufacturing and green sectors.

Persons: Bidenomics, Biden, Biden hasn’t, “ Bidenomics, Anita Dunn, Mike Donilon, Michael D, ”, Dunn Organizations: Republican, Biden

☆ Biden Secured Trillions in Domestic Spending. Now Comes the Hard Part.
▼ + stars: | 2023-05-02 | by ( Andrew Restuccia | ) www.wsj.com time to read: 1 min

President Biden is directing his senior advisers to guard against waste and fraud. Photo: Alex Wong/Getty ImagesWASHINGTON—President Biden is reorienting swaths of the federal government to focus on implementing the sweeping legislation he signed into law in his first two years in office and directing his senior advisers to guard against the waste and fraud that have bedeviled previous government programs. Mr. Biden is staking his reputation—and legacy—on spending nearly $2 trillion in taxpayer money efficiently and effectively. Done well, the effort could reshape the economy and help him win a second term. Any mistakes could threaten Mr. Biden’s 2024 re-election odds amid a pledge by congressional Republicans to conduct rigorous oversight of the administration’s spending spree.

☆ ‘As We Walked, We Passed Two Women Sitting on Folding Chairs’
▼ + stars: | 2023-04-30 | by ( ) www.nytimes.com time to read: 1 min

The rain had stopped, but the trees were still full of water. As we hurried along 70th Street, an older woman who was walking a dog stopped us. She said she had lived in the neighborhood for decades but had lost her way: Failing eyesight had clouded her sense of direction. “For matzo ball soup off Second Avenue,” we exclaimed. She may have been losing her eyesight, but she knew her way around a bowl of matzo ball soup.

☆ A Chastened, Humbled Fox News? Don’t Count on It.
▼ + stars: | 2023-04-22 | by ( Jeremy W. Peters | ) www.nytimes.com time to read: +1 min

Mr. Murdoch said then that he wanted to make Mr. Trump a “non person.” And as recently as January, when he was deposed as part of Dominion Voting Systems’ defamation lawsuit against Fox, his feelings hadn’t changed. “I’d still like to,” Mr. Murdoch said. But Fox’s audience — the engine of its profits and the largest in all of cable — may not let him. And there probably won’t be much of a shift in the way the network favorably covers Mr. Trump and the issues that resonate with his followers. “You can’t tell people, ‘Do anything to get a rating, but don’t cover the most popular figure in the Republican Party.’”

The United States, the bank's largest shareholder, has been pressing the World Bank for months to take bolder action to increase funding to help developing countries address climate change, future pandemics and other global challenges. The World Bank provided $100 billion from 2020-2022 for global public goods, but estimates that developing countries and the private sector would need to spend far more - $2.4 trillion a year - to address such needs. Karim El Aynaoui, executive president of Moroccan think tank the Policy Center for the New South, said reforms of the World Bank and other multilateral development banks were long overdue and changes were needed to give greater voice to African countries and other developing nations. "The world has changed since the inception of the World Bank and the International Monetary Fund. U.S. officials are also working closely with other MDBs to advance reforms, including the Inter-American Development Bank, which adopted closely aligned measures at its annual meeting, including a push for more private capital.

After Russia invaded Ukraine, the West formed what looked like an overwhelming global coalition: 141 countries supported a United Nations measure demanding that Russia unconditionally withdraw. South Korea Indonesia Israel Thailand Japan Saudi Arabia Philippines Afghanistan CambodiaBy contrast, Russia seemed isolated. Eritrea “Russian actions are being distorted” North Korea Russia Belarus Syria Eritrea “Russian actions are being distorted” North Korea Russia Belarus SyriaBut the West never won over as much of the world as it initially seemed. But like many other African countries, South Africa appears careful to balance its growing ties with Russia against maintaining a relationship with the West. Others that provided Ukraine with military support have declined to impose economic sanctions on Russia.

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