Archegos, a family office, brings Nomura and Credit Suisse big losses
More bad news may follow. But the episode already raises disquieting questionsMar 29th 2021BEFORE THIS WEEKEND, few people will have heard of Archegos Capital Management, an investment vehicle run by Bill Hwang, a former hedge-fund trader with a chequered past. But Archegos has emerged as the entity behind a fire sale of at least $20bn-worth…
Arsonist found guilty after googling ‘how to burn down own home’
To receive an insurance payout, Daniel Boyd Bromilow set his own home on fire and has been found guilty of arson.The firebug was found guilty of attempted fraud and arson after his home in Rockhampton was scorched in a blaze on May 28, 2019. The 29-year-old preserved his innocence in Rockhampton District Court throughout a…
Internet Enraged about Nike’s New ‘Satan Shoes’; Nike Denies Involvement
Published on Mar 29, 2021 by AnneAmerican Singer Lil Nas X released a controversial pair of unofficial limited-edition Nikes which he claims to be ‘Satan Shoes’. It was a collaboration work between the singer and a New York-based art collective called MSCHF. Using Nike Air Max 97s, the ‘Satan Shoes’ feature a pentagram and an…
Governments identify minerals needed for economic and national security
CUT DEEP into the desert rock of southern California are the jagged tiers of an open-pit mine. Mountain Pass is North America’s only mine of rare-earth metals, used in everything from fighter jets to the drivetrains of electric cars. In 2015 Mountain Pass shut, unable to compete with rare-earth producers in China. But the mine…
Governments have identified commodities essential to economic and military security
CUT DEEP into the desert rock of southern California are the jagged tiers of an open-pit mine. Mountain Pass is North America’s only mine of rare-earth metals, used in everything from fighter jets to the drivetrains of electric cars. In 2015 Mountain Pass shut, unable to compete with rare-earth producers in China. But the mine…
Myanmar’s army kills more than 100 protesters in a single day
Brutal repression is encouraging protesters to take up armsMYANMAR’S ARMY exists to protect the people and promote democracy, proclaimed the commander-in-chief, Min Aung Hlaing, from an ornate podium on a parade ground in Naypyidaw, the capital, on March 27th. The day is a national holiday, dedicated to the glories of the army, celebrated with columns…
Cambodia’s strongman is trying opposition politicians en masse
Mar 25th 2021IT IS DIFFICULT for anyone to argue that Sam Rainsy, Cambodia’s leading opposition figure, is not guilty of the crimes for which he was sentenced on March 1st to 25 years in prison. That is because the charges were so nebulous as to encompass almost everything an opposition politician does. He was accused…
A rural bit of South Korea tries to become a tourism hotspot
THE ISLANDS of Sinan county, off South Korea’s south-western coast, have never been a centre of anything much. Sustained by fishing, seaweed harvesting and salt farming, most are sparsely populated or entirely uninhabited. Reaching Mokpo, the nearest city, requires choppy ferry rides or slow car journeys along winding roads and across enormous bridges. As in…
What next for Israeli politics after another election stalemate?
Binyamin Netanyahu looks to pull off another magic trickBINYAMIN NETANYAHU hoped to ride a successful vaccination drive all the way to victory in Israel’s parliamentary election on March 23rd. The prime minister spent most of his time on the campaign trail touring vaccination centres, promising that Israel would be the first country to emerge from…
Battered Bafin’s new boss Branson
IT TOOK Olaf Scholz weeks to persuade Mark Branson to take the job as the next head of BaFin, Germany’s financial regulator. He was offering less pay for a bigger and tougher job than Mr Branson’s current role as boss of Finma, the Swiss financial watchdog. But in the end Germany’s finance minister won over…