For an overview of global financial news, it is all in "Global Financial Dynamics". This column selects banking, insurance and other financial news from all over the world for you every day to help you expand your international vision, keep up with international trends, and let the global financial market reach the end of the world!
The U.S. Congress reached a bipartisan agreement on 1$66 trillion spending deal
According to CNN, on January 7, 2024 local time, leaders of both parties in the U.S. Congress announced that they had reached a 1The $66 trillion deal to fund key U.S. projects in fiscal year 2024 could help avoid a "shutdown" at the end of the month.
According to CNN, House Speaker Johnson and Senate Majority Leader Chuck Schumer agreed on the maximum amount, including one item for fiscal year 2024 1A $59 trillion spending agreement, and a $69 billion add-on agreement to adjust non-defense domestic spending.
Most of the U.S. federal agencies will be "shut down" on January 19, 2024 due to running out of funds, and the remaining institutions will run out of funds on February 2.
Xiao Mo warned: High debt is like a "boiled frog" for the US economy
As the U.S. debt problem grows, so do economists' concerns. JPMorgan Chase recently warned that with the growing deficit of the United States and the ballooning cost of debt servicing, the debt problem in the United States has become more and more unsustainable, and it is becoming more and more like a "boiled frog" problem for the American economy.
According to the latest data released by the U.S. Treasury Department, as of the end of December 2023, the size of the U.S. national debt has reached $34 trillion, breaking this level for the first time in history.
In its 2024 outlook, JPMorgan Chase & Co. said that the age-old metaphor of "boiling a frog in warm water" applies well to the current debt situation in the United States. Although investors do not yet have an intuitive understanding of the impact of the deteriorating US debt, one day the frog will be cooked, and the huge impact of the US debt will eventually crush the US economy.
The transformer of Japan's Shiga nuclear power plant was damaged and oil leaked into the sea.
According to Japan's "Asahi Shimbun", Japan's Hokuriku Electric Power Company recently announced that it has confirmed that oil film has appeared on the sea near the Shiga nuclear power plant in Ishikawa Prefecture.
According to the report, Hokuriku Electric Power found during the inspection that 7After a magnitude 6 earthquake, the transformer of this nuclear power plant leaked about 1980,000 litres of oil, which then formed an oil film in the side trenches around the transformer, which may have flowed into the sea with rainfall.
According to Hokuriku Electric Power, "The oil leaking transformer is located outside the radiation management area, and the oil does not contain harmful substances and does not cause any impact on the environment." ”
04 The number of victims in Noto, Japan, increased to 168, and the aftershocks exceeded 1,200
On January 8, 2024, according to the latest statistics released by Ishikawa Prefecture in Japan, Noto 7The death toll from the magnitude 6 earthquake rose to 168, and the number of unaccounted for was adjusted to 323. At least 565 others were injured, including some seriously.
According to Japan**, 7More than 1,200 aftershocks have occurred near the epicenter after a magnitude 6 earthquake, and the Japan Meteorological Agency said that strong earthquakes are still possible in nearby areas.
In addition, as widespread snowfall began on January 7 in the area near the epicenter, and rain will continue to fall from January 9, the authorities are urging evacuees to be vigilant for hypothermia, as well as to be aware of secondary injuries caused by the collapse of damaged buildings due to snowfall.
Brazil's surplus in 2023 reached a new high.
According to data released by the Ministry of Development, Industry and Industry of Brazil a few days ago, Brazil will achieve a surplus of about 98.8 billion US dollars in 2023, a year-on-year increase of 606%, a new high since 2022. The data also shows that China continues to be Brazil's number one export destination.
In 2023, Brazil's exports totaled 3,396$7.3 billion, a year-on-year increase of 17%；The total value of imports amounted to 2408$3.5 billion, down 117%。The export of commodities became an important factor in pushing up Brazil's foreign trade surplus last year. In addition, the number of Brazilian exporters increased last year.
The Philippines** expects the central bank to cut interest rates by 100 basis points in 2024.
Philippine Finance Minister Benjamin Diokno said in an interview a few days ago that the Bangko Sentral ng Pilipinas may cut its key interest rate by 100 basis points in 2024. By the end of 2024, the key interest rate of the Philippine Bank could increase from the current 65% to 55%。According to Diokeno, monetary policy easing may begin in the second half of the year.
The Bangko Sentral ng Pilipinas (BSP) has previously implemented its most aggressive monetary tightening campaign in 20 years to curb stubborn inflation, and the country's borrowing costs are at a 16-year high. This is despite the fact that the country's consumer ** index (CPI) year-on-year growth slowed to 39%, the lowest level in 22 months, but rice** remains volatile, with the biggest recent increase in 15 years.
Musk responds to drug use rumors.
Recently, the American "Wall Street**" revealed that Elon Musk, the CEO of Tesla and SpaceX, "often takes drugs", which raises concerns about his company's operations.
In this regard, Musk issued a personal refutation of the rumors, saying that he conducted a random drug test for 3 years in accordance with NASA's requirements, and never found any trace amounts of drugs or alcohol. Musk also said that "Wall Street**" is not worthy of being put in a parrot cage as a bird poop pad."
The controversy over Musk's drug use has been around for a long time. In 2018, Musk smoked during a live show by comedian Logan, causing Tesla** to evaporate $4 billion.
Foreign media: Europe and the United States have suffered an outbreak season of respiratory diseases.
According to a recent report by the Financial Times, the recent surge in influenza cases in Europe, the situation has been further exacerbated by new crown pneumonia and other respiratory diseases, and Europe is facing a "triple" epidemic that may push the health system to its limits.
Spain and Italy are among the most affected countries, the report said. Hospitals are struggling to cope with the influx of patients. Healthcare facilities in some regions have reintroduced COVID-era mask-wearing rules.
Germany has also reported an increase in the number of cases. Public health authorities there said the flu wave officially began in December 2023. In the UK, there has been a slight rise in flu cases and hospitalisations. **Warning, the peak of the disease is yet to come.
Editing and audio production by Du Xiangjie.