News
Hard Numbers: Egypt seizes ship, countdown to Tokyo, US arms to UAE, Somalia’s political crisis
A satellite image of the Ever Given ship stuck in the Suez Canal.
Reuters
900 million: Egypt has impounded the Ever Given, the ship that recently blocked the Suez Canal for almost a week, until its owners pay some $900 million in compensation for losses and the cost of the rescue operation. The blockage of this major naval chokepoint caused severe disruption to the global maritime shipping industry.
100: The hometown of Japanese golf hero Hideki Matsuyama — who this past weekend became the first Asian to win the Masters golf tournament — has declined to take part in the torch relay 100 days before the Tokyo Olympics. Pressure is mounting on Japan to vaccinate more of its population ahead of the games, which will not allow foreign spectators due to local COVID restrictions.
23.37 billion: The Biden administration has informed Congress it plans to proceed with the sale of $23.37 billion in US advanced military equipment to the United Arab Emirates. This deal and a similar one with Saudi Arabia are currently under review after some Democratic lawmakers expressed fears that the weapons may be used to target Houthi civilians in Yemen.
2: Somalia's President Mohamed Abdullahi Mohamed, known as Farmaajo, has signed into law a two-year extension of his term in office, defying a resolution from the upper house of parliament that says the move is unconstitutional. Somali lawmakers have been arguing for months on how to carry out this year's elections, which have yet to be scheduled.Elections have been taking place around the world in recent weeks – and if there’s one thing they have in common, it’s this: voters are fired up.
Airlines across the continent have been affected by threats, now in their second week, with some planes making emergency landings or being escorted by fighter jets.
On The Debrief, Clayton Allen explains why the vice president’s ties to Trump—and dependence on a fractured MAGA coalition—could make 2028 a race he chooses to skip.
From shopping to services, consumer spending is showing strength across categories. Holiday shopping got an early start, and it’s not just higher earners filling their carts. Bank of America Institute sees continued spending growth recovery for lower- and middle-income households. See what’s driving the trends.