Newsletter Jun 27, 2022

3 things you must know

G7 nations roll out global infrastructure plan to rival China's
The G7 group of rich democracies on Sunday announced an attempt to compete with China's formidable Belt and Road Initiative by raising $600 billion for global infrastructure programs in poor countries. The Partnership for Global Infrastructure and Investment, unveiled with fanfare by US President Joe Biden and G7 allies, aims to fill a huge gap left as communist China uses its economic clout to stretch diplomatic tentacles around the world. FIND OUT HOW MUCH OF THE TAB THE US IS PICKING UP

Wall Street roars back on lower bond yields, but what's next?
Wall Street staged a big rally last week, driven by lower interest rates, which lured traders and investors back to equities. All major equity indexes ended the week sharply higher, however, signs of a slowing economy are beginning to put pressure on commodity prices, which have been a significant factor behind the recent inflation surge.
FIND OUT WHAT'S NEXT FOR WALL STREET INVESTORS

Russia slides closer to default as payment deadline nears
Russia edged closer to default on Sunday amid little sign that investors holding its international bonds had received payment, heralding what would be the nation's first default in decades. Russia has struggled to make payments on $40 billion of outstanding bonds since its invasion of Ukraine triggered sanctions.
GET THE LATEST DEVELOPMENTS ON THE UKRAINIAN WAR

Markets

DJIA	31,500.68	2.68%
S&P 500	3,911.74	3.06%
Nasdaq Composite	11,607.62	3.34%
Japan: Nikkei 225	26,491.97	1.23%
UK: FTSE 100	7,208.81	2.68%
Crude Oil Futures	107.08	-0.50%
Gold Futures	1,828.10	-0.12%
Yen	135.21	-0.01%
Euro	1.06	-0.03%
* As of market close

Democrats call for abortion protections

Amid nationwide protests over the weekend, leading Democratic women called on President Joe Biden and Congress to protect abortion rights nationwide after the U.S. Supreme Court overturned Roe v. Wade, in a ruling that has heightened political tensions between the federal government and states. Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez urged Biden to use federal land as a safe haven for abortion in states that ban or severely restrict the practice, after the high court on Friday overturned the landmark 1973 ruling that had recognized women's constitutional right to abortion.

FIND OUT WHAT COULD BE DONE TO CIRCUMVENT THE RULING

NATO summit opens with peaceful protests

Carrying the hammer and sickle flags of the former Soviet Union, thousands protested Sunday in Madrid ahead of this week's NATO summit. Amid tight security, leaders of the member countries will meet in Madrid as the organization faces the unprecedented challenge of the Russian invasion of Ukraine. NATO is expected to consider the bid, opposed by alliance-member Turkey, for Finland and Sweden to join.

SEE WHAT'S ON NATO'S AGENDA AT THE SUMMIT IN MADRID

Ghislaine Maxwell under suicide watch

Ghislaine Maxwell reported Brooklyn jail staff threatened her safety, prompting employees to place her on suicide watch, prosecutors said on Sunday, arguing there was no need to delay her sentencing on sex trafficking charges. Maxwell, 60, is scheduled to be sentenced on Tuesday for her December conviction for helping her then-boyfriend Jeffrey Epstein, the globe-trotting financier and convicted sex offender, abuse girls between 1994 and 2004.

FIND OUT HOW MUCH PRISON TIME MAXWELL MAY BE FACING

Economic disparity

The G7 nations account for about 10% of the world's population but about what percentage of the world's wealth?

Friday's answer: Alfred Ely Beach's Pneumatic Transit Company began construction of New York's first subway line beneath Broadway in 1869.

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