Bessent Backs Financial Support for Oil-Rich U.A.E.

THE NEW YORK TIMES: The Treasury secretary said that currency swap line would benefit both the United Arab Emirates and the United States.

Treasury Secretary Scott Bessent said on Wednesday that he backed the idea of providing economic support in the form of a currency swap to the United Arab Emirates, an oil-rich ally that has been contending with economic fallout from the war in Iran.
Speaking at a Senate hearing, Mr. Bessent said that the Emirates, along with several other countries in the Persian Gulf and Asia, had inquired about the possibility of a swap. He said such a maneuver would prevent the disorderly sale of U.S. assets as nations look to secure access to dollars. The war in Iran has damaged oil and gas infrastructure throughout the Middle East, dealing a blow to economies such as the Emirates that rely on the Strait of Hormuz to transport crude around the world.

The Treasury secretary said that providing a currency swap to the Emirates could benefit the United States by stabilizing foreign exchange markets and protecting American assets around the world. He added that it could be provided by the Federal Reserve or by the Treasury Department, which can deploy its Exchange Stabilization Fund to buy another nation’s currency.

“Swap lines, whether it’s from the Federal Reserve or the Treasury, are to maintain order in the dollar funding markets and to prevent the sale of the U.S. assets in a disorderly way,” Mr. Bessent said. “The swap line would both benefit the U.A.E. and the U.S.” » | Alan Rappeport | Reporting from Washington | Wednesday, April 22, 2026

This is astonishing indeed! No money can be found to help hard-pressed Americans, but billions can be found to help an oil-rich nation. It is more especially astonishing given the fact that the USA is on its uppers and this illegal war, in addition, is costing billions per week. Trump and his chums in the regime appear to have very queer priorities. Of course, if this illegal war had not been started, the UAE’s economy wouldn’t be suffering today. That the country now needs help is only because of Trump’s illegal and unnecessary war on Iran. It’s a war that should never have been started and waged. — © Mark Alexander

Iran Again Tightens Its Grip on Shipping in the Strait of Hormuz

THE NEW YORK TIMES: Traffic in the strait has all but halted as Iran renews its attacks, striking two vessels on Wednesday. More than 300 ships linked to Iran have passed through the strait since the war began.

The number of ships passing through the Strait of Hormuz has become a barometer of how the U.S.-Israeli war on Iran is affecting the global economy.

On Tuesday, after nearly eight weeks of war, that number was one, according to S&P Global Market Intelligence. Then Wednesday, more ships tried and Iran attacked two cargo vessels in the strait.

“They are reminding us that their threats to attack ships are genuine, and that’s enough to suppress traffic through the strait,” said Rosemary Kelanic, a director at Defense Priorities, a research organization focused on foreign affairs. Ships linked to Iran have passed through the strait, ship tracking data shows.

The latest attacks show that Tehran still has a stranglehold on the strait that allows it to ratchet up the pain on the global economy, even though the U.S. military has struck some 13,000 targets in Iran and set up a naval blockade against it. This strategic move gives Iran leverage in any talks with the United States to end the war. » | Peter Eavis | Wednesday, April 22, 2026

Iran-Krieg, Schuldenrekord, Tabubruch: Wie Trump eine „Pleite der USA“ provoziert

April 22, 2026

Trump Holds the American People in Total Contempt

THE NEW YORK TIMES — OPINION: To say that President Trump is corrupt is to somehow understate the size, scope and magnitude of his corruption.

It is as if you were to describe a modern thermonuclear device as a “bomb.” That is true enough, but it is not quite the truth. It does not capture the nature of the thing in full.

So it goes for Trump’s corruption, which is so vast as to be a new phenomenon in American politics. The president and his family have leveraged his office to the tune of nearly $4 billion. They have received hundreds of millions of dollars from a network of branded cryptocurrency assets. Investors include large corporations, foreign nationals and state actors hoping to curry favor with the administration.

One such actor, according to The Wall Street Journal, was Sheikh Tahnoon bin Zayed Al Nahyan, brother and national security adviser to the president the United Arab Emirates. Tahnoon’s investment fund purchased a half-billion-dollar stake in the Trump family’s crypto fund, World Liberty Financial, just days before Trump’s second inauguration. Tahnoon has since successfully lobbied the White House for U.A.E. access to America’s most advanced A.I. chips, with a large portion going to Tahnoon’s A.I. company. » | Jamelle Bouie | Opinion Columnist | Wednesday, April 22, 2026

Trump Threatens Companies Not to Seek Tariff Refunds, after Supreme Court Ruled Them Illegal

Apr 22, 2026 | Donald Trump said he’d remember companies that decline to seek refunds on duties paid after the Supreme Court struck down a large swath of his tariffs. In February, the Supreme Court ruled against Trump’s use of the International Emergency Economic Powers Act to impose so-called “reciprocal” tariffs on imports from nearly every country. That ruling set the stage for a complicated task that could become the largest repayment by the US government in its history.

Trump’s comments come a day after US Customs and Border Protection launched a web portal for importers to file requests for refunds that could total more than $160 billion. Yet, the process is still fraught with uncertainty.


ANTHONY DAVIS can be supported on Patreon here.

Steve Rosenberg: Russian Press Slams Internet Restrictions and Decision to Ban a Street Protest

Apr 22, 2026 | Today one Russian paper criticises the authorities over internet restrictions and for poor communication with citizens: “[It] causes the population to feel we are not respected, that strange games are being played with us.” Plus, a bizarre interview with Lenin's “spirit” on his birthday.

How Apple Became a $4 Trillion Company Under Tim Cook

THE NEW YORK TIMES: If the Steve Jobs era was defined by technological innovation, the Tim Cook period was one of exceptional financial growth.

When Tim Cook took over Apple in 2011, leaders from Silicon Valley to Wall Street predicted that the company’s best days were behind it. They feared that without Steve Jobs, Apple’s innovative chief executive, the company would falter.

They were wrong.

Over 15 years, Mr. Cook has engineered Apple’s rise from a Silicon Valley darling worth $350 billion into a cash-generating giant worth $4 trillion. The company’s annual revenue quadrupled, and its profits rose fourfold. The iPhone became ubiquitous, the Apple Watch proliferated, and the company developed credit cards and TV shows.

Apple’s growth is a testament to how Mr. Cook turned the iPhone into one of history’s best-selling products. Introduced by Mr. Jobs in 2007, the iPhone started the smartphone revolution, changing the way people work, socialize and travel. But Apple was selling only 72 million iPhones a year when Mr. Jobs died and Mr. Cook took over.

Two years later, Mr. Cook struck a deal with China’s largest wireless company, China Mobile. By the end of that year, Apple had more than doubled the number of iPhones it sold, and China was cementing itself as the company’s largest market after the United States. » | Tripp Mickle and Karl Russell | Tripp Mickle reported from San Francisco, and Karl Russell from New York. | Tuesday, April 21, 2026

Related article here.

El programa ‘Visión 2030’ de Arabia Saudita reevalúa sus prioridades

THE NEW YORK : Las autoridades de Arabia Saudita anunciaron una nueva estrategia para el fondo soberano del país, de aproximadamente 1 billón de dólares, y enfatizaron que en el futuro se centrarán en la “eficiencia”.

Imagen tomada de este artículo | El príncipe heredero saudí, Mohammed bin Salman, en Washington el pasado otoño. Los planes y ambiciones del príncipe han crecido más rápidamente que la capacidad financiera del Estado. | Credit... Haiyun Jiang/The New York Times
Hace 10 años, un príncipe de 30 años llamado Mohammed bin Salman anunció planes ambiciosos para transformar Arabia Saudita, al declarar que pondría fin a su “adicción” al petróleo.

Desde entonces, una cascada de cambios ha sacudido el conservador reino islámico. Las mujeres —que antes tenían prohibido conducir— ahora conducen ellas mismas a sus trabajos como camareras, dependientas y capitalistas de riesgo. El desempleo ha disminuido a medida que los saudíes se incorporan a empleos de bajos ingresos que antes ocupaban extranjeros. Y la policía religiosa del reino prácticamente ha desaparecido.

Sin embargo, la dependencia de Arabia Saudita del petróleo ha resultado más difícil de superar. Cuando los precios del petróleo subieron en 2021 y 2022, aumentando los ingresos del gobierno, se produjo una avalancha de espléndidos proyectos: una ciudad de esquí de montaña, un rascacielos en forma de cubo, una nueva liga de golf. Y cuando, luego, los precios del petróleo cayeron, con lo que se puso a prueba las finanzas del gobierno, los funcionarios empezaron a buscar ahorros, cancelando, retrasando y reduciendo planes que habían resultado ser demasiado grandiosos. » | Por Vivian Nereim | Reportando desde Riad, Arabia Saudita | martes 21 de abril de 2026

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Sicherheitsexperte Neumann sieht Trump in Sackgasse und warnt vor massiven Folgen | ntv

Apr 21, 2026 | Neumann: USA in der Klemme

Kaum geöffnet, schon wieder dicht: Die Straße von Hormus sorgt erneut für Chaos. Der Politikwissenschaftler und Sicherheitsexperte Peter Neumann warnt vor massiven Folgen - von steigenden Ölpreisen bis hin zu einer möglichen Weltwirtschaftskrise - und sieht Trump in einer Sackgasse.

Ingénieur, champion de natation... Qui est John Ternus, l’homme qui va succéder à Tim Cook à la tête d’Apple ?

LE FIGARO : PORTRAIT - Cet ingénieur quinquagénaire, entré dans le groupe californien en 2001, a vu ses missions évoluer en 2025 et a été davantage mis en avant dans les conférences d’Apple.

De l’ombre à la lumière. Depuis l’automne dernier, son nom est sur toutes les lèvres dans la Silicon Valley. John Ternus, vice-président senior de l’ingénierie produit d’Apple, va succéder en septembre prochain à Tim Cook à la tête du groupe, selon un communiqué de la firme publié lundi soir.

Après quatorze ans à la tête de la firme à la pomme, celui qui avait succédé en 2011 à Steve Jobs quelques mois avant sa disparition va donc passer le flambeau à la fin de l’été 2026. Tim Cook va devenir président du conseil d’administration. » | Par Keren Lentschner | lundi 20 avril 2026

Réservé aux abonnés

Related article here.

Strategic Autonomy: Can Europe Break Free from the US?

Aug 20, 2026 | Europe is reassessing its place in a rapidly destabilizing world.

A stark warning from Canada’s Prime Minister Mark Carney — that reliance on the United States has become a “weakness” — is now echoing across Europe, where leaders are confronting growing uncertainty about Washington’s long-term commitments.

At a key meeting in Poland, Emmanuel Macron and Donald Tusk discussed deeper defense cooperation, including nuclear deterrence coordination and joint military projects.

The push reflects a broader debate over “strategic autonomy” — Europe’s ability to defend itself and act independently on the global stage — as tensions with Russia persist and divisions widen over conflicts such as the war involving Iran.

But how realistic is Europe’s ambition to become a true geopolitical power? And can it reduce its dependence on the United States without weakening its own security?

We speak to Steven Everts, director of the European Union Institute for Security Studies.

Tim Cook Will Step Down as Apple C.E.O.

THE NEW YORK TIMES: The longtime leader of the iPhone maker will be replaced by John Ternus, the company’s head of hardware engineering.

Tim Cook, Apple’s chief executive, said on Monday that he would step down after nearly 15 years running an operation that rode the wild popularity of the iPhone to become one of the most influential and valuable companies in the world.

Mr. Cook, 65, will move into a new role as Apple’s executive chairman in September and be succeeded in the company’s corner office by John Ternus, the 50-year-old head of Apple’s hardware engineering.

The retirement of Mr. Cook will end one of the most successful management runs in the history of American business. During his tenure, Apple’s annual profit quadrupled to more than $110 billion, while its value ballooned more than tenfold to $4 trillion.

Mr. Cook replaced the Apple co-founder Steve Jobs shortly before Mr. Jobs’s death in 2011, having earned a reputation for perfecting the nuts and bolts of a global consumer electronics business. Apple has since defined how a modern technology company operates, with products assembled in a supply chain that stretches from the giant operations that Mr. Cook helped create in China to India and Brazil and a popular retail business that operates on five continents. » | Kalley Huang and Tripp Mickle | Reporting from San Francisco | Monday, April 20, 2026

The Insider Trading Suspicions Looming Over Trump's Presidency | BBC News

Apr 20, 2026 | Throughout US President Donald Trump's second term in office, traders have been betting millions of dollars just before he makes major announcements.

The BBC has found a consistent pattern of spikes in trades and finical markets just hours, or sometimes minutes, before the president's most significant market-moving statements were made public.

Some analysts say it bears the hallmarks of illegal insider trading, whereby bets are made by people based on information that is not available to the general public.

While others say that some traders have become more adept at anticipating the president's interventions.

Steve Rosenberg: Who Are the Kremlin's Friends in the West?

Apr 20, 2026 | One Russian paper today claims “Life has become four times more joyous.” Another reports the country’s economic reserves are “largely exhausted.” Plus: “a new drop in the approval rating of the [Russian] authorities.” And who are the Kremlin’s friends in the West?

Iran War: Trump Threatens to ‘Blow Up Whole Country’

Apr 19, 2026 | Iranian state media has just announced a team from Iran will not be taking part in the new round of peace talks in Pakistan.

President Trump said he was sending a delegation to Islamabad for the talks on Monday night, and warned every power plant and every bridge in Iran would be knocked out if the regime does not agree to his terms.

‘You Don’t Own Iran’: Lula Goes Nuclear on Trump In Explosive Speech; ‘Don’t Lie to Destroy Nations’

Apr 19, 2026 | Brazilian President Luiz Inácio Lula da Silva delivered a powerful and highly critical speech, directly targeting global powers and accusing world leaders, including Donald Trump, of spreading false narratives to justify wars and interventions. Speaking at an international summit in Barcelona, Lula strongly condemned past conflicts including the Iran war, Gaza genocide, and military interventions in the Middle East. He called for an end to what he described as the use of misinformation to destroy nations and demanded greater respect for international institutions like the United Nations. His remarks also highlighted how regions such as Latin America and the Arab world are often misrepresented in global discourse. The speech has sparked intense debate across diplomatic circles, marking one of Lula’s most forceful public interventions on global politics.

Kuba-Krise: Spanien, Mexiko und Brasilien schlagen Alarm

BERLINER ZEITUNG: Nach monatelanger Ölblockade der USA verschärft sich die Krise in Kuba. Spanien, Mexiko und Brasilien drängen auf eine Lösung.

In einer gemeinsamen Erklärung haben Spanien, Mexiko und Brasilien ihre Besorgnis über die schwere humanitäre Krise in Kuba zum Ausdruck gebracht. Die drei Länder fordern einen respektvollen Dialog, um eine dauerhafte Lösung zu finden und die Selbstbestimmung des kubanischen Volkes zu gewährleisten, wie die Nachrichtenagentur AFP berichtet.

Die Regierungen von Spanien, Mexiko und Brasilien zeigten sich besorgt über die „dramatische Situation“ in Kuba, wie aus einer am Samstag veröffentlichten Erklärung des mexikanischen Außenministeriums hervorgeht. Die Karibikinsel leidet unter einer schweren wirtschaftlichen und humanitären Krise, die durch eine Ölblockade der USA unter Präsident Donald Trump weiter verschärft wurde, so AFP. » | Lea Brüggemann | Sonntag, 19. April 2026

À LIRE AUSSI :

L'Espagne, le Mexique et le Brésil appellent à un dialogue respectueux avec Cuba : Les États-Unis, opposés au pouvoir communiste à Cuba depuis qu’il a été établi en 1959, ont accentué en janvier leur pression économique sur le pays des Caraïbes de 9,6 millions d’habitants. »

Navidi: Straße von Hormus nicht wirklich offen | ntv

Apr 18, 2026 | Für die Zeit der Waffenruhe im Libanon hebt der Iran die Blockade der Straße von Hormus auf. Doch die Öffnung hat Einschränkungen: "Es ist freier", aber "nicht wirklich frei", erklärt Sandra Navidi. Trotz vorsichtigem Optimismus warnt die USA-Expertin vor Szenarien, die "zum Teil katastrophal" ausfallen könnten.

Iran’s Military Says It Has Reimposed ‘Strict Control’ of Strait of Hormuz

THE NEW YORK TIMES: The military said it would keep the vital waterway under its control until the U.S. ended its blockade of Iranian ports. The statement added to the uncertainty over access to the strait.

Iran said Saturday that it had reasserted control over the Strait of Hormuz because the United States was maintaining a naval blockade, just hours after Iranian officials and President Trump had said that the critical waterway was open, raising hopes for an end to the six-week war.

The announcement added more confusion to the status of transit through the strait, where Iran had choked global energy supplies by menacing nearby ships during the war with the United States and Israel. Iran’s military, in a statement carried by government media, said it was now “under strict control” unless the United States ended its own blockade of Iranian ports.

A day earlier, Iran’s foreign minister called the strait “completely open.” At the same time, however, Iranian officials had insisted ships would still need Iranian permission and must travel an Iranian-designated route.

Nonetheless, Mr. Trump framed the Iranian announcement as a breakthrough and presented the U.S.-Israeli war with Iran as all but concluded. He immediately added, however, that the American naval blockade of Iran’s ports would remain in place until a deal was reached to end the war.

The president has often made overly optimistic claims about the war, which began in late February. Although Mr. Trump expressed confidence late Friday about the negotiations with Iran that he said would be happening over the weekend, no new face-to-face talks were announced as of Saturday morning.

Mr. Trump also claimed in a phone interview with CBS that Iran had “agreed to everything.” But Iran’s top negotiator, Mohammad Bagher Ghalibaf, quickly denied Iran had agreed to any of their adversaries’ core demands.

The announcement of the strait’s reopening brought immediate relief to energy markets on Friday, sending international oil prices tumbling to around $90 a barrel.

Hopes for an end to the war were boosted by the 10-day cease-fire in Lebanon that went into effect on Friday. The deal prompted celebrations in Lebanon as thousands of displaced families made their way home, and there was heavy traffic again Saturday morning as people continued to head south.

Iran had demanded the truce with the United States extend to Lebanon as a condition for a broader deal. Mr. Trump and U.S. officials worked to make that happen, even as they denied they were trying to meet Iran’s conditions. Iran War Live Updates » | Aaron Boxerman, John Yoon, Ashley Ahn, Pranav Baskar and Rawan Sheikh Ahmad | Saturday, April 18, 2026

The Impossible Promise: Are We Witnessing the Return of Fascism?

THE GUARDIAN: Some of today’s far right is openly violent and undemocratic – and even in its less extreme forms, far-right populism is a profound threat. But that doesn’t mean it is just a re-run of history

…

EXTRACT:

Fascism emerged in the 20th century, amid societies that were scarred by the violence of the first world war and the instability, hunger and mass unemployment that trailed in its wake and where a growing workers’ movement threatened to wrest power from trad¬itional governing elites. In response to a feeling of national humiliation or betrayal, fascism promised national rebirth through the violent cleansing of enemies at home, and imperial conquest abroad, in return for abandoning democracy. Its base lay among the frustrated lower middle classes, but it rapidly gained cross-class support. Its supporters were organised into parties with uniformed paramilitary wings. They operated in what Paxton called an “uneasy but effective collaboration” with traditional governing elites, for whom fascism was a way to maintain order and crush the left. (Those elites were wrong: they saw fascism as their attack dog, but it ate them alive.)

Read the whole article, ‘The Long Read’, jere.