British General Election: What Went Wrong? (James W.)
The writer John Greer, whose book I have reviewed before, wrote an article (which is no longer online), when Jeremy Corbyn (“Corbyn”) got elected Labour leader in 2015, predicting the Corbyn surge. He argued, presciently, that Corbyn’s Bennite brand of old-school socialism offered an alternative to a set of economic and political policies that had failed the majority of the population. The stagnating wages, the growing income inequality between rich and poor and the nearly decade of austerity by the ruling Conservative Party would inevitably lead to an electoral backlash.
The outcome has huge privacy ramifications for consumers and for the tech sector, which is caught between a rock and a hard place. The sector is being asked by the US government to comply with court orders that sometimes conflict with the laws of where the data is stored.
As no Democrat will side with the bill, Republicans will be able to accommodate the opposition of just two of their 52 senators. Senate majority leader Mitch McConnell is facing a daunting task. The challenge is all the more onerous as conservative qualms about the bill are themselves cleft into two hostile camps.
Saudi Arabia, Egypt, the United Arab Emirates and Bahrain cut ties to Qatar this month over allegations the Persian Gulf country funds terrorism — an accusation that President Donald Trump has echoed. Those countries have now given Qatar 10 days to comply with all of the demands, which include paying an unspecified sum in compensation.
The plant, originally supposed to cost $2.9 billion, is designed to take soft lignite coal and turn it into a synthetic gas that can be burned to generate electricity, capturing climate-warming carbon dioxide and other pollutants. But the Kemper County plant’s cost has ballooned and it’s running more than three years behind schedule. Its gasifiers have run intermittently in recent months, but Mississippi Power has yet to achieve reliable commercial operation.
Expert Commentary: Is An Oil Comeback On The Cards? (Michael K.)
In geopolitics we also aren’t counting OPEC out in its ability to manage downside risk for two reasons. Firstly, the cartel’s 1Q’17 revenues increased y/y despite production cuts providing an important lesson in cooperation. Secondly, the ARAMCO IPO persists as compelling motivation for Saudi-lead market management. On a longer time frame the cartel is obviously losing price influence to shale, but that doesn’t mean they can’t create headline risk in the near term (as they did this week) by floating discussions of more aggressive cuts.
“We live in a global marketplace and want to recruit the best minds—and many of the very best are in U.S. labs,” said Professor Piers Forster, director of the Priestley International Centre for Climate at the University of Leeds. Professor Forster is now “actively recruiting” Americans. “We have had a trickle of approaches from U.S. colleagues,” he said. Other U.K. institutes “are having similar conversations,” he added.
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