Source: Reuters

WORLD

It’s been a day of meetings on the international front, though some were not as promising as others.

– Relations between China and the U.S. appear to be at a standstill as high-level diplomatic talks in the northern Chinese port city of Tianjin failed to produce any outcomes. The talks, aimed at ensuring that competition does not veer into conflict, did produce combative statements, though not with the same volume of vitriol that marked their previous meeting in Alaska in March.

– South and North Korea’s flourishing correspondence seems to have produced more fruitful results as the two countries restored communications hotlines that Pyongyang severed a year ago.

– U.S. President Joe Biden and Iraqi Prime Minister Mustafa al-Kadhimi met as well, sealing an agreement formally ending the U.S. combat mission in Iraq by the end of the year, though U.S. forces still will operate there in an advisory role.

– Tokyo reported a record number of coronavirus cases even as the Olympic Games continued. It was another tough day for Japan on a second front: Naomi Osaka is out of the running for tennis gold after losing 6-1 6-4 to the Czech Republic’s Marketa Vondrousova.

– In Hong Kong, a judicial panel set up to deal with national-security cases found former waiter Tong Ying-kit, 24, guilty of terrorism and inciting secession in a landmark case. The ruling imposes new limits on free speech in the former British colony, activists say. Tong was denied bail and a jury trial.

– The European Union is on course to hit its target of 70% adult vaccination against COVID-19 by the end of the summer, the European Commission said. Even so, shifting restrictions as the pandemic ripples around the world are making it hard for those who make their living in tourism, such as Greek hotel manager George Tselios, who says there’s no way to know how business will be more than two weeks into the future.

BUSINESS

– Global securities markets regulators said on Tuesday they have begun monitoring special purpose acquisition companies, or SPACs, due to potential regulatory concerns. Emerging markets have so far been on the fringes of a fundraising boom using SPAC deals. Wider global investor caution about the funding tool and a few recently delayed landmark deals will play a role in how much some countries can unlock this vital new source of cash.

– Investors should get some insight this Thursday on how the aftershocks from the Greensill and Archegos scandals are hitting Credit Suisse when it reports its quarterly financial results. The bank on Tuesday appointed Goldman Sachs partner David Wildermuth as its new chief risk officer, its second recent big Wall Street hire to work on its turnaround.

– Ask for more. You are worth it, according to a top London-based recruiter who says that the pandemic has worsened a shortage of white-collar workers in many countries, forcing companies to pay higher salaries to snare talent.

Quote of the day

“Allowing free speech… on the field of play seems now entirely dependent on the goodwill of the IOC.”

Maximilian Klein – Athleten Deutschland representative for international sports policy

Protest rules at Tokyo Games not transparent, German athletes group says