Republican senator Tim Scott announced his bid for the 2024 presidential race with an optimistic message. Speaking in his hometown, North Charleston, Mr Scott said that he was the living proof that America was the land of opportunity. He criticised his opponents Donald Trump and Ron DeSantis for their suspicious approach towards those who disagree with them. Scott is polling in low single digits against Trump and DeSantis, with 49% of Republicans choosing Trump so far. However, he has a war chest of $22m, the backing of billionaire Larry Ellison and strong popularity in his home state of South Carolina.
China's focus on pig breeding technology is seen as a long-term bet on national security by the nation's leadership, due in part to the importance of pork consumption to the Chinese population, the world's largest. The majority of the country's pigs — more than 90%, according to the government — are derived from imported breeds, leaving China exposed to potential food shortages and disease vulnerabilities. China has invested heavily in home-grown agricultural research and development as it seeks to reduce reliance on foreign food and technology. However, US public funding cuts in such research threatens that country's ability to compete. Between 1948 and 2019, total US agricultural output grew 175% as a result of public investment, with spending per head remaining largely flat since 1970. The US Congress, however, last year appropriated billions to boost the US semiconductor industry, but only $1m in 2022 and 2023 for the hoped-for Agriculture Advanced Research and Development Authority.
The US administration’s decision to allow allies to train Ukrainian forces to operate F-16 fighter jets, and eventually to provide the aircraft themselves, followed months of internal debate and quiet talks with allies and does not represent an abrupt change in policy. The US administration was concerned that a move to provide F-16s to Ukraine could US-Russian tensions and that the training would be difficult and time-consuming. However, a shift in US policy became apparent after Biden’s visit to Ukraine and Poland and following discussions between senior White House National Security Council, Pentagon and State Department officials. Defense Secretary Lloyd Austin heard from allied defense leaders during a meeting of the Ukraine Defense Contact Group seeking US permission to train the Ukrainians on F-16s and raised the matter during the NSC policy discussions leading to agreement that it was time to start training. State, Pentagon, and NSC officials are now developing a training plan and “when, where, and how to deliver F-16s” to Ukraine as part of the long-term security effort, US officials said.
US President Joe Biden has sounded positive about the prospects of Congress finding an agreement in time to avoid a default on America’s sovereign debt that would have catastrophic consequences. A meeting with House Speaker Kevin McCarthy showed that Biden was “optimistic” about devising a bipartisan agreement, following an acknowledgment that the prospect of a debt default was on both sides’ minds. McGovern said a decision over spending cuts would have to be made since there are just ten days left before a default, and the House’s proposal for spending cuts would provide the “framework” for any deal.
The question of who would replace US Senator Dianne Feinstein if she steps down from her role has raised issues with California Governor Gavin Newsom. Concerns about Feinstein’s fitness for the job have been raised, despite calls from her party to resign, as health concerns continue to be disclosed. Potential replacements from obscure to famous, including Oprah Winfrey, have been floated around California circles, but in 2021 Newsom promised to appoint an African-American woman should Feinstein’s seat become available, which may limit his options. Meanwhile, a separate campaign will be underway to fill the seat when the senator’s term ends in January 2025. Newsom has said he has been inundated with suggestions for how to fill a possible vacancy and was sensitive to criticism that voters should be picking their elected officials, hinting that he might choose a caretaker to hold the spot if one becomes available.
US lawmakers are using investment funds to trade with little scrutiny, causing concerns over conflicts of interest according to reports. Whereas individual stock transactions must be reported within 45 days, senators purchases portfolio positions just once a year. At the end of 2021, almost 90% of senators sold investment funds worth $260m, dwarfing the scale of individual stock trading. Investors with around 50% of senators owning individual stocks with a cumulative value of over $60m, excepted investment funds are typically highly concentrated, prompting an analysis into how they are used. Democracy Forward, a non-profit progressive group is calling for the US securities regulator to expand the scope of stock-trading disclosures.
Concerns around conflicts of interest come particularly as high-ranking officials have been shown to have profited from using confidential briefings to trade stocks during the early stages of Covid-19. While some experts argue that rules have failed to keep up with the investment industry over recent decades, the suggested exemptions from reporting rules are based on the belief that funds are diversified and difficult to exploit. However, according to former chief ethics lawyer for the Bush administration, Richard Painter, industry and country-specific funds create the same issues with respect to conflicts of interest and criminal insider trading that individual stocks do.
Problems with Congress not keeping up-to-date with industry changes are highlighted, and the White House remains subject to tighter restrictions on funds that concentrate on country-specific or particular sectors. There are growing concerns, however, over members of Congress investing their funds heavily in countries that are trading with the US with a principal task to grow the US economy. The calls for greater transparency are likely to continue as the push towards ESG continues to enhance the scrutiny of investment practices across the board.
Black Americans suffer from a range of health problems from asthma to COVID-19, with Black women particularly at risk when giving birth. Angelica Lyons nearly died from an undiagnosed case of sepsis during childbirth. Black women are nearly three times more likely to die during pregnancy or delivery than any other race in the US, according to the Centers for Disease Control and Prevention. The nation’s health disparities have had a catastrophic impact over the past two decades, resulting in 1.6 million excess deaths compared with white Americans and a cumulative loss of more than 80 million years of life due to premature death, resulting in billions of dollars in healthcare and lost opportunities. Black Americans’ health issues have long been ascribed to genetics or behaviour, when in actuality, racism is responsible, as a history of racism that began in the nascent days of America has led to the disparities seen today, from restrictions on where people could live to the historical lack of access to care. More needs to be done to combat medical racism.
The battle for Bakhmut in eastern Ukraine, which lasted for over 220 days and is possibly the longest in the war, was finally won by Russian forces but left behind nine million bottles of champagne made by Artwinery, one of eastern Europe’s major suppliers of sparkling wine. While the winery evacuated one million bottles, the rest remain in cellars 236 feet underground in gypsum mines from which the company sourced the materials it uses. The fate of the remaining stock remains uncertain, as celebrations are uneasily held due to the town’s protracted combat and ongoing conflict.
Bakhmut, an eastern Ukraine town with a population of 70,000 is now almost completely empty and Ukrainian authorities are divided over its significance. For many, the protracted and expensive defence of Bakhmut was crucial to setting up an eventual counter-offensive elsewhere. The Russian commanders see the prolonged defence as having held up the Ukrainian forces and depleted Ukrainian Western equipment.
Despite the capture of Bakhmut, the town remains a potent symbol for boosting Ukrainian morale and sending a message to the Russian military that if more fortified towns such as Slovyansk and Kramatorsk were attacked, then the Russian army would need to expend both men and materials. The Ukrainian military has claimed that the Russian forces in Bakhmut are “semi-encircled”, but this is not supported on war theatre maps.
