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<title><![CDATA[Politics]]></title>
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var(--ds-interactions-transition);transition:color var(--ds-interactions-transition),color var(--ds-interactions-transition);}.css-1fs0t47 a:hover{color:var(--ds-color-chicago-30);}.css-1fs0t47 a:focus{text-decoration-color:transparent;box-shadow:0 0 0 0.125rem var(--ds-color-hong-kong-55);outline:solid transparent;}.css-1fs0t47 a:active{text-decoration-color:var(--ds-color-hong-kong-55);box-shadow:none;color:var(--ds-color-london-5);}</style><span class="css-1fs0t47 ed4dtdz0">Enjoy more audio and podcasts on<!-- --> <a id="audio-ios-cta" href="https://economist-app.onelink.me/d2eC/bed1b25" target="_blank" rel="noreferrer">iOS</a> <!-- -->or<!-- --> <a id="audio-android-cta" href="https://economist-app.onelink.me/d2eC/7f3c199" target="_blank" rel="noreferrer">Android</a>.</span></div><audio class="react-audio-player " controls="" id="audio-player" preload="none" src="https://www.economist.com/media-assets/audio/002%20The%20world%20this%20week%20-%20Politics%20this%20week-17c9e46c23e5a6cb95506e511d8759da.mp3" title="Politics" controlslist="nodownload"><p>Your browser does not support the <audio> element.</p></audio><style data-emotion="css 1h1me4y">.css-1h1me4y{text-align:center;height:0;}.css-1h1me4y>div{top:-0.625rem;}</style><div class="css-1h1me4y e50l3u41"><style data-emotion="css vu6x35">.css-vu6x35{position:relative;display:inline-block;text-align:left;}</style><div class="css-vu6x35 ebr52qc0"></div></div></figure></div><style data-emotion="css 1hno3qs">.css-1hno3qs{color:var(--ds-color-london-5);font-family:var(--ds-type-system-serif);font-weight:400;font-size:var(--ds-type-scale-2);line-height:var(--ds-type-leading-lower);}.css-1hno3qs del,.css-1hno3qs s{-webkit-text-decoration:strikethrough;text-decoration:strikethrough;}.css-1hno3qs strong,.css-1hno3qs b{font-weight:700;}.css-1hno3qs em,.css-1hno3qs i{font-style:italic;}.css-1hno3qs 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[data-ornament='ufinish']::after,.css-1hno3qs .ufinish::after{font-size:var(--ds-type-scale-2);}}</style><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b><a href="https://www.economist.com/asia/2023/09/19/a-devastating-accusation-by-justin-trudeau-against-india">Canada</a>’s</b> prime minister, Justin Trudeau, said that <b>Indian </b>agents were behind the killing of a Sikh leader near Vancouver in June. India denied it. Hardeep Singh Nijjar had pushed for a Sikh homeland in India. India says he was a terrorist, Mr Nijjar’s supporters say he was a peaceful activist. Mr Trudeau’s allegation of a fellow democracy assassinating a Canadian citizen on Canadian soil has ramifications beyond a souring of relations with India. America’s National Security Council has said it is “deeply concerned”, and has urged India to co-operate.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>India’s</b> <small>MP</small>s held their first session in a new Parliament building, which replaces the old one designed by the British in the 1920s. In May opposition parties protested against its inauguration, accusing Narendra Modi, the prime minister, of turning what was supposed to be a show of national unity into a party rally.</p><div class="adComponent_advert__V79Pp adComponent_incontent__Bxd2J adComponent_hidden___o_ZB css-0 e1cbnkh80"><div><div id="econ-1" class="adComponent_adcontainer__dO1Zm"></div></div></div><p data-component="paragraph" class="css-1hno3qs e190yofl0">Speculation swirled around <b><a href="https://www.economist.com/china/2023/09/20/the-disappearance-of-chinas-defence-minister-raises-big-questions">China’s defence minister</a></b>, General Li Shangfu, who has not been seen in public for weeks. Some reports suggested that he was under investigation for corruption and would be removed. The episode comes just months after purges of China’s foreign minister, Qin Gang, and the leadership of China’s Rocket Force, which controls the country’s conventional and nuclear missiles.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">China’s top <b>diplomat</b>, Wang Yi, met America’s national-security adviser, Jake Sullivan, in Malta. Among the topics discussed was the war in Ukraine. A day later Mr Wang arrived in Moscow, where he met Russia’s president, Vladimir Putin. China claims to be neutral in the war, but its officials repeat Kremlin talking points. Local media said Mr Wang’s trip would help pave the way for a visit by Mr Putin to China.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">Azerbaijan sent its army into <b><a href="https://www.economist.com/europe/2023/09/21/azerbaijan-is-close-to-taking-control-of-nagorno-karabakh">Nagorno-Karabakh</a></b>, a disputed enclave with a majority Armenian population, in what it described as an “anti-terrorism” operation against “illegal Armenian military formations”. Ethnic Armenians agreed to a ceasefire. Tensions have been running high because of Azerbaijan’s blockade of Karabakh, which has led to medicine and fuel shortages. </p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Volodymyr Zelensky</b> gave a speech in person to the <small>UN</small> General Assembly in New York, in which he warned that Russia is trying to smash the established international order and push the world to a “final war”. The Ukrainian president also compared Russia’s abduction of Ukrainian children to “genocide”. Mr Zelensky then went to Washington to discuss further help for Ukraine’s war effort.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">Hungary, Poland and Slovakia imposed their own curbs on imports of <b>Ukrainian grain</b>, after the European Union lifted a partial ban. As a row over the curbs escalated, Poland said it would no longer supply weapons to Ukraine. </p><p data-component="paragraph" class="css-1hno3qs e190yofl0">Evika Silina became <b>Latvia’s</b> new prime minister, after forming another coalition headed by the centre-right New Unity party. One of the first tasks of the new government was to close one of Latvia’s border points with <b>Belarus</b> following an increase in illegal crossings by migrants.</p><style data-emotion="css 8p8dhl">.css-8p8dhl{font-family:var(--ds-type-system-serif);font-size:var(--ds-type-scale-2);line-height:var(--ds-type-leading-lower);font-weight:700;color:var(--ds-color-london-5);}</style><h2 class="css-8p8dhl e8f47sz0">Greens see red</h2><p data-component="paragraph" class="css-1hno3qs e190yofl0">Rishi Sunak, <b>Britain’s</b> prime minister, announced some changes to the government’s plan to reach <a href="https://www.economist.com/britain/2023/09/20/rishi-sunaks-anti-green-turn-on-britains-climate-targets">net-zero emissions</a> by 2050, such as delaying a ban on new petrol cars by five years to 2035. He said this was being done so that the 2050 target could be met in a “better, more proportionate” way. In <b>Sweden</b> the government’s budget contained tax-cutting measures, including on fuel duties. Sweden was the first country to lay out an aim of net-zero, but some think the budget means it now won’t be able to hit that goal in 2045.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <b>Italian</b> cabinet approved a measure that extends the time that some migrants can be detained to 18 months. The government is scrambling to respond to a wave of 8,000 migrants who have landed on the tiny Italian island of Lampedusa, a favourite destination for the people-smugglers who traffic migrants in boats from Tunisia, just 113 kilometres (61 miles) away. </p><div class="adComponent_advert__V79Pp adComponent_incontent__Bxd2J adComponent_hidden___o_ZB css-0 e1cbnkh80"><div><div id="econ-2" class="adComponent_adcontainer__dO1Zm"></div></div></div><p data-component="paragraph" class="css-1hno3qs e190yofl0">Protests broke out against the authorities in Derna, a city in eastern <b>Libya</b> recently devastated by floods. Calls are growing for an international investigation into why the dams in the city burst.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Israeli</b> forces killed six<b> Palestinians</b> in the occupied West Bank and Gaza Strip. Four were killed in a raid on Jenin refugee camp, the scene two months ago of Israel’s biggest raid in 20 years. In New York Israel’s prime minister, Binyamin Netanyahu, held a long-awaited meeting with Joe Biden. Mr Biden said the pair had discussed “hard issues”.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">One of the leaders of the Free Current coalition in <b>Egypt</b>, the main liberal opposition party, was sentenced to six months in prison for slander and verbally assaulting a police officer. His supporters say the charges were politically motivated and the party has said it will not put up a candidate in Egypt’s presidential election due next year.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Iran</b> and America each <a href="https://www.economist.com/middle-east-and-africa/2023/09/18/irans-6bn-hostage-deal-is-part-of-a-broader-diplomatic-strategy">swapped five prisoners</a> in a deal in which $6bn-worth of frozen Iranian assets, mostly oil revenues, were also released. Shortly after the deal was announced Ebrahim Raisi, Iran’s president, addressed the <small>UN</small> assembly, accusing America of inflaming violence in Ukraine. Meanwhile Iranian <small>MP</small>s passed a draft law imposing sentences of up to ten years on women who flout the country’s dress code, a year after widespread protests against the killing of Mahsa Amini, a woman who was detained for showing her hair.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <b>Dominican Republic</b> sealed its border with <b>Haiti</b> after a breakdown in negotiations over using water from the Massacre River. A farmers’ group in Haiti is building a canal to irrigate land dried out by drought, but this will divert water from the Dominican Republic, says the country’s president, Luis Abinader. </p><div class="css-0 eitqf4z0"><figure class="css-qts40t e1197rjj0"><img alt="Supporters of Guatemalan President-elect Arevalo attends a protest outside the Supreme Court of Justice, in Guatemala City" loading="lazy" width="1280" height="720" decoding="async" data-nimg="1" style="color:transparent" sizes="(min-width: 960px) 834px, 95vw" srcset="https://www.economist.com/cdn-cgi/image/width=360,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 360w, https://www.economist.com/cdn-cgi/image/width=384,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 384w, https://www.economist.com/cdn-cgi/image/width=480,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 480w, https://www.economist.com/cdn-cgi/image/width=600,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 600w, https://www.economist.com/cdn-cgi/image/width=834,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 834w, https://www.economist.com/cdn-cgi/image/width=960,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 960w, https://www.economist.com/cdn-cgi/image/width=1096,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 1096w, https://www.economist.com/cdn-cgi/image/width=1280,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 1280w, https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg 1424w" src="https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20230923_WWP002.jpg" referrerpolicy="no-referrer"><figcaption class="css-18w36g1 edweubf2"><span class="css-6pzdis edweubf1">image: Reuters</span></figcaption></figure></div><p data-component="paragraph" class="css-1hno3qs e190yofl0">Thousands of <b>Guatemalans</b> demonstrated to demand an end to efforts by officials to hinder the transfer of power to <a href="https://www.economist.com/the-americas/2023/06/28/guatemalas-election-produces-a-pleasant-surprise">Bernardo Arévalo</a>, who was elected as the country’s president in August. Mr Arévalo, a reformist who is due to take office in January, presented a petition asking the Supreme Court to block attempts to overturn his victory.</p><h2 class="css-8p8dhl e8f47sz0">America’s merry-go-round</h2><p data-component="paragraph" class="css-1hno3qs e190yofl0">Kevin McCarthy, the speaker of America’s House of Representatives, had another battle on his hands with rebels in his Republican Party, who are once again threatening to shut down the government by refusing to back <b>stopgap funding</b> legislation. Meanwhile, America’s gross national debt exceeded $33trn for the first time.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <b>Texas</b> Senate acquitted <a href="https://www.economist.com/united-states/2023/09/21/what-ken-paxtons-acquittal-means-for-texas-republicans">Ken Paxton</a>, the state’s attorney-general, at his impeachment trial. In May Mr Paxton, a hardline conservative, was impeached by the Texas House of Representatives, which is Republican controlled, for alleged bribery and abuse of public trust.</p><div class="adComponent_advert__V79Pp adComponent_incontent__Bxd2J adComponent_hidden___o_ZB css-0 e1cbnkh80"><div><div id="econ-3" class="adComponent_adcontainer__dO1Zm"></div></div></div><p data-component="paragraph" class="css-1hno3qs e190yofl0">Paul Kagame, who has been president of <b>Rwanda</b> since 2000 and its de facto leader since toppling a genocidal government in 1994, said he plans to run for a fourth presidential term next year. Mr Kagame pushed through a constitutional change in 2015 that could allow him to stay in power until 2034.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <small>EU</small> has stopped funding <b>Zimbabwe’s</b> electoral commission, citing concerns about its independence during elections in August. Although the electoral funding is worth just $5m, cutting it may signal a deeper breach with the <small>EU</small>, which had been hoping to mend relations and unlock financial support for Zimbabwe from the World Bank and <small>IMF.</small></p><p data-component="paragraph" class="css-1hno3qs e190yofl0">There are “grave and ongoing” violations of human rights taking place in Tigray and other regions of <b>Ethiopia</b>, almost a year since a formal end to its civil war, the <small>UN</small>’s Human Rights Council said in a report. Many of the ongoing atrocities in Tigray are being committed by soldiers from Eritrea, whose forces were supposed to have withdrawn under the terms of the peace deal.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">Burkina Faso, Mali and Niger have signed a mutual-defence pact known as the <b>Alliance of Sahel States</b> (<small>ASS</small>). All three members of the <small>ASS</small> are run by military juntas following a series of coups over the past two years.</p></div>]]></description>
<pubDate>Thu, 21 Sep 2023 12:51:46 GMT</pubDate>
<guid isPermaLink="false">/content/e5qasteaa9gaaded7gge22usbtah3cg4</guid>
<link>https://www.economist.com/the-world-this-week/2023/09/21/politics</link>
</item>
<item>
<title><![CDATA[Business]]></title>
<description><![CDATA[<section class="css-1ugvd2u e18wk22u0"><style data-emotion="css qts40t">.css-qts40t img{display:block;}.css-qts40t .edweubf2{margin-top:0.25rem;}</style><figure class="css-qts40t e1197rjj0"><img alt="US Federal Reserve Chairman Powell announces interest rates remain unchanged, Washington, USA." fetchpriority="high" width="1280" height="720" decoding="async" data-nimg="1" style="color:transparent" sizes="(min-width: 960px) 700px, 95vw" srcset="https://www.economist.com/cdn-cgi/image/width=360,quality=80,format=auto/content-assets/images/20230923_WWP501.jpg 360w, https://www.economist.com/cdn-cgi/image/width=384,quality=80,format=auto/content-assets/images/20230923_WWP501.jpg 384w, https://www.economist.com/cdn-cgi/image/width=480,quality=80,format=auto/content-assets/images/20230923_WWP501.jpg 480w, https://www.economist.com/cdn-cgi/image/width=600,quality=80,format=auto/content-assets/images/20230923_WWP501.jpg 600w, 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.e1cbnkh80+*{margin-top:2.1875rem;}</style><div class="css-1tl6jh1 e116ty902"><style data-emotion="css 1lm38nn">.css-1lm38nn{margin:1.3125rem 0 2.1875rem;}.css-1lm38nn figure{margin:0;min-width:100%;}.css-1lm38nn figure figcaption{display:inline;font-family:var(--ds-type-system-sans);font-size:var(--ds-type-scale-0);font-weight:500;}.css-1lm38nn audio{display:block;margin-top:0.75rem;width:100%;}.css-1lm38nn +figure,.css-1lm38nn +.g-fallback+figure{margin-top:0;}</style><div class="css-1lm38nn e50l3u40"><figure><div><figcaption>Listen to this story.</figcaption> <style data-emotion="css 1fs0t47">.css-1fs0t47{display:inline;font-family:var(--ds-type-system-sans);font-size:var(--ds-type-scale-0);font-style:normal;font-weight:400;line-height:var(--ds-type-leading-border-link);}.css-1fs0t47 a{color:var(--ds-color-london-5);-webkit-text-decoration:underline;text-decoration:underline;text-underline-offset:0.125rem;-webkit-transition:color var(--ds-interactions-transition),color 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src="https://www.economist.com/media-assets/audio/003%20The%20world%20this%20week%20-%20Business%20this%20week-ba3292766be3234b8f4b015e144d9d5a.mp3" title="Business" controlslist="nodownload"><p>Your browser does not support the <audio> element.</p></audio><style data-emotion="css 1h1me4y">.css-1h1me4y{text-align:center;height:0;}.css-1h1me4y>div{top:-0.625rem;}</style><div class="css-1h1me4y e50l3u41"><style data-emotion="css vu6x35">.css-vu6x35{position:relative;display:inline-block;text-align:left;}</style><div class="css-vu6x35 ebr52qc0"></div></div></figure></div><style data-emotion="css 1hno3qs">.css-1hno3qs{color:var(--ds-color-london-5);font-family:var(--ds-type-system-serif);font-weight:400;font-size:var(--ds-type-scale-2);line-height:var(--ds-type-leading-lower);}.css-1hno3qs del,.css-1hno3qs s{-webkit-text-decoration:strikethrough;text-decoration:strikethrough;}.css-1hno3qs strong,.css-1hno3qs b{font-weight:700;}.css-1hno3qs em,.css-1hno3qs i{font-style:italic;}.css-1hno3qs 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[data-ornament='ufinish']::after,.css-1hno3qs .ufinish::after{font-size:var(--ds-type-scale-2);}}</style><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <b>Federal Reserve</b> left its benchmark interest rate on hold at a range of between 5.25% and 5.5%, but said it remained “highly attentive to inflation risks”. New forecasts from the central bank suggest that the American economy is proving to be more robust than expected, pointing to another rate rise before the end of the year. Markets don’t expect the Fed to start cutting rates until towards the end of next year at the earliest.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <b>Bank of England</b> also maintained its key interest rate, at 5.25%, ending a run of 14 consecutive rate rises. The bank’s decision came a day after figures showed that Britain’s annual rate of <b>inflation</b> had unexpectedly slipped to 6.7%. Economists had predicted that the inflation rate would rise because of higher fuel costs, but this was offset by an easing of prices in certain items, including food and hotels.</p><style data-emotion="css 1bzwzkr">.css-1bzwzkr{width:21rem;margin-left:auto;margin-right:auto;}@media (min-width: 37.5rem){.css-1bzwzkr{float:left;margin-right:var(--ds-grid-gutter);}}</style><div class="css-1bzwzkr eitqf4z1"><figure class="css-qts40t e1197rjj0"><img alt="" loading="lazy" width="608" height="598" decoding="async" data-nimg="1" style="color:transparent" sizes="300px" srcset="https://www.economist.com/cdn-cgi/image/width=16,quality=80,format=auto/content-assets/images/20230923_WWC676.png 16w, https://www.economist.com/cdn-cgi/image/width=32,quality=80,format=auto/content-assets/images/20230923_WWC676.png 32w, https://www.economist.com/cdn-cgi/image/width=48,quality=80,format=auto/content-assets/images/20230923_WWC676.png 48w, https://www.economist.com/cdn-cgi/image/width=64,quality=80,format=auto/content-assets/images/20230923_WWC676.png 64w, https://www.economist.com/cdn-cgi/image/width=96,quality=80,format=auto/content-assets/images/20230923_WWC676.png 96w, https://www.economist.com/cdn-cgi/image/width=128,quality=80,format=auto/content-assets/images/20230923_WWC676.png 128w, https://www.economist.com/cdn-cgi/image/width=256,quality=80,format=auto/content-assets/images/20230923_WWC676.png 256w, https://www.economist.com/cdn-cgi/image/width=360,quality=80,format=auto/content-assets/images/20230923_WWC676.png 360w, https://www.economist.com/cdn-cgi/image/width=384,quality=80,format=auto/content-assets/images/20230923_WWC676.png 384w, https://www.economist.com/cdn-cgi/image/width=480,quality=80,format=auto/content-assets/images/20230923_WWC676.png 480w, https://www.economist.com/cdn-cgi/image/width=600,quality=80,format=auto/content-assets/images/20230923_WWC676.png 600w, https://www.economist.com/cdn-cgi/image/width=834,quality=80,format=auto/content-assets/images/20230923_WWC676.png 834w, https://www.economist.com/cdn-cgi/image/width=960,quality=80,format=auto/content-assets/images/20230923_WWC676.png 960w, https://www.economist.com/cdn-cgi/image/width=1096,quality=80,format=auto/content-assets/images/20230923_WWC676.png 1096w, https://www.economist.com/cdn-cgi/image/width=1280,quality=80,format=auto/content-assets/images/20230923_WWC676.png 1280w, https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20230923_WWC676.png 1424w" src="https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20230923_WWC676.png" referrerpolicy="no-referrer"><figcaption class="css-18w36g1 edweubf2"><span class="css-6pzdis edweubf1">image: The Economist</span></figcaption></figure></div><p data-component="paragraph" class="css-1hno3qs e190yofl0">In its latest projections, the <small>OECD</small> said that the impact of higher interest rates is “becoming increasingly visible”. The organisation upgraded its estimate of <b>world</b> <b><small>GDP</small></b> <b>growth</b> this year to 3%, but pared back its forecast for next year to 2.7%. The <small>OECD</small> said that monetary policy needed “to remain restrictive” until inflation is firmly under control, but it warned that the effects of rate rises “will continue to work their way through economies for some time”.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b><a href="https://www.economist.com/business/2023/09/21/what-arm-and-instacart-say-about-the-coming-ipo-wave">Instacart</a>’s</b> share price rose by 12% on its first day of trading on the Nasdaq exchange. The online-groceries company raised the offer price of its shares to $30, after <b>Arm’s</b> successful<small> IPO</small> on September 14th whetted investors’ appetite for more tech offerings. The British chip designer’s stock soared by 25% in its debut on the Nasdaq, raising $5bn to make it the biggest <small>IPO</small> in America in two years. But the share prices of both Arm and Instacart fell back in subsequent trading.</p><div class="adComponent_advert__V79Pp adComponent_incontent__Bxd2J adComponent_hidden___o_ZB css-0 e1cbnkh80"><div><div id="econ-1" class="adComponent_adcontainer__dO1Zm"></div></div></div><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Bob van Dijk</b> abruptly resigned as chief executive of Naspers, an internet company based in South Africa, and as the head of Prosus, which is controlled by Naspers and is one of the world’s biggest technology-investment firms. Mr Van Dijk had led Naspers for nine years, trying to handle the problematic mismatch between the value of its assets and its share price. </p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Toshiba’s</b> shareholders approved an offer for the Japanese conglomerate that will take it private. Its management hopes the fresh start will draw a line under years of upheaval. The consortium taking over Toshiba is led by a Japanese private-equity firm, Japan Industrial Partners.</p><style data-emotion="css 8p8dhl">.css-8p8dhl{font-family:var(--ds-type-system-serif);font-size:var(--ds-type-scale-2);line-height:var(--ds-type-leading-lower);font-weight:700;color:var(--ds-color-london-5);}</style><h2 class="css-8p8dhl e8f47sz0">Elemental</h2><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Disney</b> announced that it is doubling its investment in its theme parks, cruise line and resorts to $60bn. The company’s parks-and-experiences division generates more operating income ($7.6bn for the nine months ending July 1st) than its media and entertainment business ($2.2bn).</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">California’s governor, Gavin Newsom, said he would sign a state bill requiring companies to disclose how much <b>greenhouse gas</b> they directly emit, as well as indirect emissions. They are the toughest measures on climate disclosure in America and will affect around 5,000 companies that do business in the state. Meanwhile California’s attorney-general lodged a lawsuit against big <b>oil companies</b> such as <small>BP</small> and ExxonMobil, seeking damages for what it claims is an industry cover-up about the harm that fossil fuels can do.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Oil prices</b> climbed to their highest levels in ten months, as markets fretted that cuts to output by Saudi Arabia and Russia could cause a supply shortfall. Brent crude rose to $95 a barrel for the first time since November. Saudi Arabia’s energy minister defended the decision to lower production. It’s not about “jacking up prices”, he said, and more to do with economic uncertainties, such as demand in China.</p><div class="adComponent_advert__V79Pp adComponent_incontent__Bxd2J adComponent_hidden___o_ZB css-0 e1cbnkh80"><div><div id="econ-2" class="adComponent_adcontainer__dO1Zm"></div></div></div><p data-component="paragraph" class="css-1hno3qs e190yofl0">The <b><a href="https://www.economist.com/business/2023/09/20/americas-big-car-firms-face-lengthy-strikes">United Auto Workers</a></b> union said it would expand its strike to other factories unless there was “serious progress” in talks with Ford, General Motors and Stellantis. The <small>UAW</small> has co-ordinated its action against all three of Detroit’s carmakers for the first time, but limited the strike to one plant for each company. Meanwhile Ford reached a tentative deal with its union in Canada to avert a strike there.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0">China’s imports of <b>Japanese seafood</b> fell by 68% in August from the same month last year. China, the world’s biggest market for Japanese fish and shellfish, banned the products when Japan released wastewater from the damaged Fukushima nuclear plant into the sea.</p><h2 class="css-8p8dhl e8f47sz0">It’s a family affair</h2><p data-component="paragraph" class="css-1hno3qs e190yofl0"><small>FTX,</small> a bankrupt cryptocurrency exchange, sued the parents of its founder, <b>Sam Bankman-Fried</b>, to recover “fraudulently transferred and misappropriated funds” that it claims were paid out to the couple before the company collapsed last November. Mr Bankman-Fried goes on trial on October 3rd charged with fraud related to <small>FTX</small>’s implosion. A judge sent him to jail in August, accusing him of tampering with witnesses.</p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Elon Musk</b> described reports that Tesla is in talks to build a factory in <b>Saudi Arabia</b> as “utterly false”. Mr Musk has a complex relationship with the Saudis, caused in large part by what he perceives to be a Saudi failure to back a plan to take Tesla private. “You are throwing me under the bus,” Mr Musk tweeted to the head of the country’s sovereign-wealth fund in 2018.</p></div>]]></description>
<pubDate>Thu, 21 Sep 2023 12:51:46 GMT</pubDate>
<guid isPermaLink="false">/content/urldrfi8klu5mjv6ia38rki017qh43gg</guid>
<link>https://www.economist.com/the-world-this-week/2023/09/21/business</link>
</item>
<item>
<title><![CDATA[KAL’s cartoon]]></title>
<description><![CDATA[<section class="css-1ugvd2u e18wk22u0"><style data-emotion="css qts40t">.css-qts40t img{display:block;}.css-qts40t .edweubf2{margin-top:0.25rem;}</style><figure class="css-qts40t e1197rjj0"><img alt=" " fetchpriority="high" width="1280" height="850" decoding="async" data-nimg="1" style="color:transparent" sizes="(min-width: 960px) 700px, 95vw" srcset="https://www.economist.com/cdn-cgi/image/width=360,quality=80,format=auto/content-assets/images/20230923_WWD000.png 360w, https://www.economist.com/cdn-cgi/image/width=384,quality=80,format=auto/content-assets/images/20230923_WWD000.png 384w, https://www.economist.com/cdn-cgi/image/width=480,quality=80,format=auto/content-assets/images/20230923_WWD000.png 480w, https://www.economist.com/cdn-cgi/image/width=600,quality=80,format=auto/content-assets/images/20230923_WWD000.png 600w, https://www.economist.com/cdn-cgi/image/width=834,quality=80,format=auto/content-assets/images/20230923_WWD000.png 834w, https://www.economist.com/cdn-cgi/image/width=960,quality=80,format=auto/content-assets/images/20230923_WWD000.png 960w, https://www.economist.com/cdn-cgi/image/width=1096,quality=80,format=auto/content-assets/images/20230923_WWD000.png 1096w, https://www.economist.com/cdn-cgi/image/width=1280,quality=80,format=auto/content-assets/images/20230923_WWD000.png 1280w, https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20230923_WWD000.png 1424w" src="https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20230923_WWD000.png" referrerpolicy="no-referrer"><style data-emotion="css 18w36g1">.css-18w36g1{width:100%;font-family:var(--ds-type-system-sans);}</style><figcaption class="css-18w36g1 edweubf2"><style data-emotion="css 6pzdis">.css-6pzdis{font-family:var(--ds-type-system-sans-smallcaps);font-size:var(--ds-type-scale--1);font-weight:400;font-variant-ligatures:none;line-height:var(--ds-type-leading-lower);text-transform:lowercase;color:var(--ds-color-london-35);}.edweubf0+.css-6pzdis{margin-left:0.5rem;}</style><span class="css-6pzdis edweubf1">image: KAL</span></figcaption></figure></section><style data-emotion="css 1tl6jh1">.css-1tl6jh1 *+*{margin-top:0.875rem;}.css-1tl6jh1 .e195f1ec0{margin-top:0;}.css-1tl6jh1 .e50l3u40{margin:0;}.css-1tl6jh1 .e50l3u40 +*{margin-top:2.1875rem;}.css-1tl6jh1 .e50l3u40 .e50l3u41{margin-top:0;}.css-1tl6jh1 .eqtgzhl0+*{margin-top:1.75rem;}.css-1tl6jh1 *+.eqtgzhl0{margin-top:1.75rem;}.css-1tl6jh1 *+.e1r78fak0{margin-top:1.75rem;}.css-1tl6jh1 .e1r78fak0+*{margin-top:1.75rem;}.css-1tl6jh1 *+.e10jdj00{margin-top:1.3125rem;}.css-1tl6jh1 *+.e1m2w0l00{margin-top:2.1875rem;}.css-1tl6jh1 .e1m2w0l00+*{margin-top:2.1875rem;}.css-1tl6jh1 .e1m2w0l00+.e195f1ec0{margin-top:2.1875rem;}.css-1tl6jh1 .e195f1ec0+.e1m2w0l00{margin-top:2.1875rem;}.css-1tl6jh1 >.e8f47sz0+*{margin-top:0;}.css-1tl6jh1 .e1xfd4x10+*{margin-top:1.3125rem;}.css-1tl6jh1 >.e69v9ey0+*{margin-top:1.3125rem;}.css-1tl6jh1 .e10jdj00+.e190yofl0{margin-top:1.3125rem;}.css-1tl6jh1 .e69v9ey0+.e1r78fak0{margin-top:1.3125rem;}.css-1tl6jh1 .e69v9ey0+.eqtgzhl0{margin-top:1.3125rem;}.css-1tl6jh1 .e1m2w0l00+.e1m2w0l00{margin-top:1.3125rem;}.css-1tl6jh1 .e10jdj00+.e69v9ey0{margin-top:1.3125rem;}.css-1tl6jh1 .e8f47sz0+.e69v9ey0{margin-top:0.875rem;}.css-1tl6jh1 .eitqf4z0+*,.css-1tl6jh1 .e195f1ec0+*{margin-top:2.1875rem;}.css-1tl6jh1 *+.eitqf4z0,.css-1tl6jh1 *+.e195f1ec0{margin-top:2.1875rem;}.css-1tl6jh1 .eitqf4z0+.eitqf4z0,.css-1tl6jh1 .e195f1ec0+.e195f1ec0,.css-1tl6jh1 .eitqf4z0+.e195f1ec0,.css-1tl6jh1 .e195f1ec0+.eitqf4z0{margin-top:1.3125rem;}@media (min-width: 37.5rem){.css-1tl6jh1 .eitqf4z1{margin-bottom:0.875rem;}}.css-1tl6jh1 .e10jdj00+.eitqf4z1{margin-top:1.3125rem;}.css-1tl6jh1 .e10jdj00+.eitqf4z1+.e190yofl0{margin-top:1.3125rem;}.css-1tl6jh1 .e1m2w0l00+.eitqf4z1+.e190yofl0{margin-top:2.1875rem;}.css-1tl6jh1 .eitqf4z1+.e190yofl0+.e69v9ey0{margin-top:1.3125rem;}.css-1tl6jh1 .e1r78fak0+.eitqf4z1,.css-1tl6jh1 .e1r78fak0+.eitqf4z1+.e190yofl0,.css-1tl6jh1 .eqtgzhl0+.eitqf4z1+.e190yofl0,.css-1tl6jh1 .eqtgzhl0+.eitqf4z1{margin-top:2.1875rem;}.css-1tl6jh1 .e190yofl0+.eitqf4z1,.css-1tl6jh1 .e190yofl0+.eitqf4z1+.e190yofl0,.css-1tl6jh1 .e69v9ey0+.eitqf4z1,.css-1tl6jh1 .e69v9ey0+.eitqf4z1+.e190yofl0{margin-top:1.3125rem;}@media (max-width: 37.4375rem){.css-1tl6jh1 .eitqf4z1+.e190yofl0,.css-1tl6jh1 .eqtgzhl0+.eitqf4z1+.e190yofl0,.css-1tl6jh1 .e1r78fak0+.eitqf4z1+.e190yofl0{margin-top:0.875rem;}}.css-1tl6jh1 .eitqf4z1+*:not(.e190yofl0),.css-1tl6jh1 .eitqf4z1+.e190yofl0+*:not(.e190yofl0){clear:both;}.css-1tl6jh1 .e1cbnkh80{clear:both;}.css-1tl6jh1 *+.e1cbnkh80{margin-top:2.1875rem;}.css-1tl6jh1 .e1cbnkh80+*{margin-top:2.1875rem;}</style><div class="css-1tl6jh1 e116ty902"><style data-emotion="css 1hno3qs">.css-1hno3qs{color:var(--ds-color-london-5);font-family:var(--ds-type-system-serif);font-weight:400;font-size:var(--ds-type-scale-2);line-height:var(--ds-type-leading-lower);}.css-1hno3qs del,.css-1hno3qs s{-webkit-text-decoration:strikethrough;text-decoration:strikethrough;}.css-1hno3qs strong,.css-1hno3qs b{font-weight:700;}.css-1hno3qs em,.css-1hno3qs i{font-style:italic;}.css-1hno3qs sup{bottom:0.5rem;font-size:smaller;position:relative;vertical-align:baseline;}.css-1hno3qs sub{font-size:smaller;position:relative;top:0.25rem;vertical-align:baseline;}.css-1hno3qs small,.css-1hno3qs .small-caps{display:inline;font-family:var(--ds-type-system-serif-smallcaps);font-size:inherit;font-variant-ligatures:none;font-weight:400;line-height:var(--ds-type-leading-lower);text-transform:lowercase;}.css-1hno3qs u,.css-1hno3qs .underline{-webkit-text-decoration:underline;text-decoration:underline;text-underline-offset:0.125rem;text-decoration-thickness:0.0625rem;}.css-1hno3qs a{color:var(--ds-color-london-5);-webkit-text-decoration:underline;text-decoration:underline;text-decoration-color:var(--ds-color-chicago-45);text-decoration-thickness:0.125rem;text-underline-offset:0.125rem;}.css-1hno3qs a:hover{color:var(--ds-color-chicago-30);-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;}.css-1hno3qs a:focus{background-color:var(--ds-color-chicago-95);color:var(--ds-color-london-5);outline:none;-webkit-text-decoration:underline;text-decoration:underline;text-decoration-color:var(--ds-color-chicago-45);text-decoration-thickness:0.125rem;}.css-1hno3qs a:active{background-color:var(--ds-color-chicago-95);color:var(--ds-color-london-5);-webkit-text-decoration:none;text-decoration:none;}.css-1hno3qs [data-caps='initial'],.css-1hno3qs .drop-cap{float:left;font-size:3.3125rem;height:3.125rem;line-height:1;margin:-0.0625rem 0.2rem 0 0;text-transform:uppercase;}@media (min-width: 22.5rem){.css-1hno3qs [data-caps='initial'],.css-1hno3qs .drop-cap{font-size:3.8125rem;height:3.375rem;}}.css-1hno3qs [data-ornament='ufinish'],.css-1hno3qs .ufinish{font-size:0;}.css-1hno3qs [data-ornament='ufinish']::after,.css-1hno3qs .ufinish::after{font-family:var(--ds-type-system-symbols);font-size:var(--ds-type-scale-1);content:'7';color:var(--ds-color-economist-red);}@media (min-width: 22.5rem){.css-1hno3qs [data-ornament='ufinish']::after,.css-1hno3qs .ufinish::after{font-size:var(--ds-type-scale-2);}}</style><p data-component="paragraph" class="css-1hno3qs e190yofl0"><b>Dig deeper into the subject of this week’s cartoon:</b></p><p data-component="paragraph" class="css-1hno3qs e190yofl0"><a href="https://www.economist.com/britain/2023/09/20/rishi-sunaks-anti-green-turn-on-britains-climate-targets">Rishi Sunak’s anti-green turn on Britain’s climate targets<br></a><a href="https://www.economist.com/united-states/2023/09/21/parts-of-america-are-becoming-uninsurable">Climate change is coming for America’s property market<br></a><a href="https://www.economist.com/finance-and-economics/2023/07/13/why-people-struggle-to-understand-climate-risk">Why people struggle to understand climate risk<br><br><br></a><i>KAL’s cartoon appears weekly in The Economist. You can see last week’s <a href="https://www.economist.com/the-world-this-week/2023/09/14/kals-cartoon">here.</a></i></p></div>]]></description>
<pubDate>Thu, 21 Sep 2023 12:51:46 GMT</pubDate>
<guid isPermaLink="false">/content/n1uob1piq7hv3imukpl43al0kdas57l6</guid>
<link>https://www.economist.com/the-world-this-week/2023/09/21/kals-cartoon</link>
</item>
<item>
<title><![CDATA[This week’s covers]]></title>
<description><
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