Friday, July 8, 2022

A nation in shock

A shooting leaves the world stunned.

The world was stunned Friday when former Japanese Prime Minister Shinzo Abe was shot and killed, just days ahead of elections. The event will no doubt leave scars on a nation where gun violence is exceedingly rare.

Over in the UK, the Boris Johnson drama finally came to a head this week, with the prime minister bowing to pressure from his cabinet to step aside. The lingering questions now: How soon will he vacate 10 Downing St., and who'll move in instead?

Around the world, the economic landscape appears dominated by heated recession debate. Is it coming? Are we already in one?

Other reads include a deep dive into a billionaire nickel trader who walked away from a debacle in the market that he helped create. The crypto plunge claimed more victims meanwhile, with some diehards throwing in the towel. Heading out for a summer drive? Check out the latest in EV RVs. —David Scanlan

Abe's Legacy

Photographer: Kosuke Okahara/Bloomberg
Photographer: Kosuke Okahara/Bloomberg

Shinzo Abe, Japan's longest-serving prime minister, was a figure of enduring influence. His untimely death Friday at the age of 67 shocked the country, which has one of the world's strictest gun laws. The last time a current or former Japanese prime minister was shot was 90 years ago.

The former leader, who stepped down in 2020 for health reasons, will most likely be remembered for an aggressive economic-growth strategy that bore his name. The success of "Abenomics," based on a surge of monetary easing and government spending, helped propel his party to six straight election wins — and over 2,800 consecutive days in office as Japan's premier.

Who's Moving to 10 Downing St?

Photographer: Chris J. Ratcliffe/Bloomberg
Photographer: Chris J. Ratcliffe/Bloomberg

How long will he stick around? Boris Johnson wants to stay until October as the UK's caretaker prime minister to give the Conservative Party time to find a successor. The party wants none of that, and would like him gone by the end of summer. We look at what comes next and the leading candidates to take on what Johnson calls the "best job in the world."

Nickel Scandal

Photographer: Chris J. Ratcliffe/Bloomberg
Photographer: Chris J. Ratcliffe/Bloomberg

He was known at the "Big Shot" in Chinese commodities circles for his outsized market bets. Read more about how Xiang Guangda walked away pretty much unscathed from a short bet on nickel that at one point was $10 billion underwater.

Done With Crypto

Photographer: Sarah Silbiger/Bloomberg
Photographer: Sarah Silbiger/Bloomberg

The plunge in crypto assets has been so painful, even the diehards in hoodies are giving up. Voyager Digital was the latest casualty, inflicting pain on investors, including billionaire Sam Bankman-Fried.

Recession Looms

Photographer: Joanne Coates/Bloomberg
Photographer: Joanne Coates/Bloomberg

The recession obsession is heating up. What are the odds it will hit? Our model calculates a 38% in the US in the next 12 months. But for some households and businesses — not to mention Wells Fargo — it's already here.

Gas Surge

Photographer: Dwayne Senior/Bloomberg
Photographer: Dwayne Senior/Bloomberg

In the frothy world of commodities, nothing can rival natural gas right now following a 700% surge in Europe since the start of last year. The fuel that for years took a back seat to crude oil is now in so much demand — with such limited supply — it promises to shape geopolitics for years to come.

Bible Bets
 

Photographer: Michael Nagle/Bloomberg
Photographer: Michael Nagle/Bloomberg

A new court case shed fresh light on the inner workings of Archegos Capital and its founder Bill Hwang, who often mixed aggressive stock bets with religious fervor. The allegiance to "God, Hwang and Archegos" didn't work out so well for the collapsed family office.

Green Road Trip

Planning a summer road trip? Even the once gas-guzzling recreational vehicles offer electric options now, so you can hit the road and bypass those costly pumps.

No comments:

Post a Comment

Visa Partners with Coinbase

The Daily Leo #583 ͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏ ...