Hours before Russian President Vladimir Putin’s flagship economic forum opened Wednesday in his hometown of St. Petersburg, Ukrainian drones hit the region, offering a fiery reminder of the war as the Kremlin welcomed international guests including Rodney Mims Cook Jr., who is overseeing President Donald Trump’s planned White House ballroom. Source link
The National Research Council of Canada (NRC) is building on its over 100-year legacy in Canadian innovation to support Canadian industry in supplying the next-generation of defence solutions Canada’s prosperity and security are rooted in innovation. Across the country, researchers, entrepreneurs and small and medium sized enterprises (SMEs) are advancing new science and technology that strengthen our economy and safeguard Canadians in an increasingly complex world. The National Research Council of Canada (NRC) plays a central role in realising this vision. By leveraging its research expertise, national network, and partnerships with industry, academia and government, the NRC accelerates innovation in areas vital to Canada’s defence and security. Accelerating defence and aerospace innovation in Canada For more than a century, the NRC has been at the forefront of Canadian innovation in defence and aerospace. From pioneering the crash position indicator – the precursor to today’s flight recorder – to developing the anti-gravity suit and testing the Avro Arrow, our researchers have consistently advanced technologies that strengthen Canada’s defence capabilities. Today, supported by over C$900m in new Defence Industrial Strategy (DIS) …
When Donald Trump was 13, his father caught him with a hidden cache of switchblades. Fred Trump, according to Tony Schwartz, who ghostwrote the president’s book “The Art of the Deal,” was “a very brutal guy” — a martinet of a father who shipped his son off to military school. A poor student and apparently not much of a leader, Donald Trump still managed to fail up into a prestigious position that came with the most coveted honor: leading the parade down Fifth Avenue in a flamboyant cadet uniform. That pattern has continued throughout his life. Trump may not be the smartest president in America’s history, but he is certainly the luckiest. That’s not to say that he doesn’t have his troubles. In fact, he’s constantly mired in scandal, shame and disgrace, and has been his entire life. Still, like a political Houdini, he manages to wriggle out of every jam, usually leaving a pile of wreckage in his wake. That single characteristic may be the key to his popularity. To some, it makes Trump an …
By Guy Faulconbridge and Lucy Papachristou MOSCOW, May 29 (Reuters) – A Russian-led economic union of former Soviet republics said on Friday it would consider suspending Armenia for seeking European Union membership and called on Yerevan to hold a referendum so its people could vote on which path to take. Russia, distracted by the war in Ukraine, is trying to keep Armenia in its orbit but Armenian Prime Minister Nikol Pashinyan, who faces an election on June 7, has tried to plot a path westwards while criticising Moscow in public. After a meeting in Astana, the Eurasian Economic Union (EAEU) said it will consider suspending Armenia later this year out of concerns its pursuit of EU membership jeopardises the union’s economic security. The leaders of Russia, Kazakhstan, Belarus and Kyrgyzstan said that Armenia’s westward integration posed “significant risks to the economic security” of the EAEU, and that its continued membership would be reviewed at the group’s next meeting in December. They also called on Yerevan to hold a popular referendum on joining the EU, and …
WASHINGTON: Sri Lanka’s recovery from its worst economic meltdown is under threat from the effects of the Middle East war, the International Monetary Fund said Thursday (May 28), a day after granting a US$695-million bailout instalment. Tough economic reforms since Sri Lanka’s sovereign default in 2022 have placed the country in a better position, IMF mission chief Evan Papageorgiou told a news conference in Washington. But the Iran war as well as the aftermath of Cyclone Ditwah, which struck in November, “are weighing on the economy and have tilted the risks firmly to the downside,” Papageorgiou said. Surging oil prices due to the war, launched by the United States and Israel on Feb 28, have heavily impacted many import-dependent Asian countries including Sri Lanka. The island secured a US$2.9-billion, four-year bailout in early 2023 after months of acute shortages in the previous year led to street protests that toppled then-president Gotabaya Rajapaksa. The IMF’s board approved on Wednesday two reviews of Sri Lanka’s loan programme, making US$695 million in additional loans immediately available. The IMF …
U.S. Rep. Ro Khanna visits Ultium Cells, an electric vehicle battery manufacturing plant in Warren, Ohio. Garrett Downs | CNBC PENNSYLVANIA, OHIO and MICHIGAN — U.S. Rep. Ro Khanna was riding shotgun in a black Chevrolet Suburban hurtling down an Ohio highway. His mind was on the economy. “I do think I have the right economic vision for this country,” Khanna, D-Calif., told CNBC, taking a break from answering one of the hundreds of text messages he receives each day. “The question is just whether I will get behind someone who can help adopt it, or whether I’ll do it myself.” The Silicon Valley representative had just left Magnet, a nonprofit industrial consulting firm and talent incubator and a stop on his three-day tour through the Rust Belt. He was speaking to the question that many were asking here: whether the former co-chair of the 2020 Bernie Sanders campaign would mount his own bid for the White House in 2028. “It’s a natural question, and the truth is that I’ve said I’m going to consider …
While Bardella has enjoyed success courting the titans of industry — especially those executives belonging to CAC40, the index of France’s largest listed companies — Le Pen’s more recent attempts at engagement with business have been rockier. Politicians from rival parties are wasting no time in seeking to score points from the ideological schism at the heart of the nationalist, anti-immigration National Rally. “There’s the new generation National Rally that’s courting CAC40 executives, companies and business leaders … and the old guard that is pro-spending, pro-nanny state,” Édouard Philippe, the conservative main challenger to the far right, said this month. “You can count on me to condemn their posturing and U-turns.” Éric Zemmour, leader of the far-right Reconquest party, accused Bardella of going to “great lengths” to make it look as if the National Rally were right-wing while the party hierarchy — most notably Le Pen — had leftist economic instincts and wanted to hike taxes. Noting the divisions between Bardella and Le Pen, members of the far-left France Unbowed party said their presidential candidate …
The government’s jobs tsar has warned Britain faces an “economic catastrophe” as young people have been “rewired” by smartphones. Alan Milburn was appointed by Sir Keir Starmer as chairman of the Young People and Work Report as hundreds of thousands of 16-24-year-olds are not in education, employment or training (Neets). His interim report, set be published next week, will suggest that the “rising tide of mental ill-health, anxiety, depression, neurodiversity” is the main reason for high economic inactivity. Speaking to The Times, the former health secretary said young people “are not snowflakes or faking it”, but the rise in these issues could be linked to growing up in a digital age on social media. “The system is trapping people in worklessness rather than enabling them into work,” Mr Milburn told the paper. “We’re at a risk of just writing a whole generation off.” 729,000 16-24 year olds were not employed between January and March this year (PA Wire) The research also described a “bedroom generation” with many of those who had left school at 16 …
In the fall of 2011, one of us gave a presentation on the idea of a $15 minimum wage to a gathering of the Democracy Alliance—one of the most influential networks of left-leaning donors and advocates in the country. It did not go well. Heads shook. Some people in the audience laughed out loud. Later, when we raised the idea with Democratic members of Congress, progressive economists, and liberal think tanks, the reception was similar. They thought we’d lost our minds. These were not people who disagreed with our goal of fighting inequality. But they were unwitting captives of an economic paradigm that said a $15 minimum wage had to be crazy. That paradigm, which we call the neoliberal consensus, generally holds that markets, left largely to themselves, allocate resources efficiently. One of its iron laws is that anything that forces employers to raise wages kills jobs. It was basic supply and demand: Make something (labor) more expensive, and you’ll get less of it. If you accepted that premise, then a $15 minimum wage was …
UNITED NATIONS (AP) — Responding to Middle East crises and rising oil prices, the United Nations on Tuesday lowered its forecast for global economic growth and raised the prospects for inflation this year. U.N. economists said global GDP growth is now forecast at 2.5% for 2026, down from 2.7% in January, and they said it could fall to only 2.1% “in a more adverse scenario.” That would be one of the weakest growth rates this century, outside of the COVID-19 pandemic and the global financial crisis of 2008, Shantanu Mukherjee, director of economic analysis in the U.N. Department of Economic and Social Affairs, said at a news conference. On a somewhat positive note, he said, “we are not close” to a recession, but life can get harder for billions of people, and some countries may see their economies contract. Global inflation is projected to rise to 3.9% this year, 0.8% higher than forecast in January, before the U.S. and Israel launched airstrikes on Iran. Iran responded by blocking the Strait of Hormuz, a critical waterway …
