In the political sphere, Biden’s plan to keep migrants away from the United States border is notable. On the other hand, India has chosen to suspend the issuance of visas to Canadian citizens.
From an economic perspective, tensions between China and the United States could discourage private investment. At the same time, the bank protection measures implemented after the 2008 crisis are considered insufficient.
In the business world, Rupert Murdoch is stepping down as chairman of Fox and News Corp. Additionally, Cisco is in the process of acquiring cybersecurity company Splunk.
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Policy
- Joe Biden’s administration faces significant challenges in addressing the humanitarian and political crisis unfolding at the US border. The initiative, known as the safe mobility program, focuses on placing migrants seeking protection in immigration processing centers in Central and South America, moving them away from the Mexico-U.S. border.
- Trudeau mentioned that Canadian intelligence services had information suggesting the possible involvement of Indian authorities in the murder of Hardeep Singh Nijjar, a Sikh leader with Canadian citizenship. In response, Indian authorities announced this Thursday the suspension of the issuance of visas to Canadian citizens.
Economy
- If geopolitical tensions between Beijing and Washington worsen, no American company will want to be left with assets blocked in China, as recently happened in Russia after the invasion of Ukraine. Many will prefer to hedge their risks by moving additional production to India or Southeast Asia.
- The problems that arose in banks in the United States and Switzerland last spring have highlighted the lack of effectiveness of the reforms implemented after the 2008 financial crisis, making it clear that, once again, injections of public capital have been the mainstay fundamental of the financial system.
Business
- Rupert Murdoch will step down as chairman of both Fox and News Corp in November, marking the end of a seven-decade tenure during which he built a media empire that transformed the news and entertainment landscape. In recognition of his legacy, he will assume the title of president emeritus at both companies. His eldest son, Lachlan Murdoch, will assume the position of president at News Corp while maintaining his positions as CEO at Fox Corp.
- Cisco Systems has reached a $28 billion deal to acquire Splunk, a cybersecurity company and maker of data analytics software. This move by the networking equipment giant aims to capitalize on the growing trend of generative artificial intelligence. The agreement could be finalized by the end of the third quarter of 2024.
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