Indian Prime Minister Narendra Modi has inaugurated the country's new parliament complex in New Delhi, but the event was attended by only supporters as opposition groups boycotted the ceremony calling it "an incomplete event". The $145bn complex, which is three times the size of the old parliament and features national symbols such as the peacock and banyan tree, is part of Modi's $2.4bn Central Vista Project to change the face of central Delhi. Critics say it only reflects Hindu heritage and protests have been held over concerns about the loss of heritage and changing the city's character.
US trade agency the USTR is taking an "analytical" view of the tariff review and will not base any outcomes from the "breakthrough" of US-China trade relations, the agency's deputy, Sarah Bianchi, told Reuters. The Biden administration is continuing discussions with the Asian superpower without the assumption of a breakthrough. Bianchi said USTR was taking industry and stakeholder attitudes into account and would determine which tariff categories are strategically sound by consulting with other departments, including the Treasury and Commerce. Former US President Donald Trump imposed tariffs in 2018 and 2019 on thousands of Chinese imports in the wake of technological IP misappropriation.
US job hiring has been predicted to slow down in May with the country expected to have added 193,000 jobs during the month down from the 253,000 jobs added in April. The data will be an essential part of the US Federal Reserve's deliberations when it next meets in June to set interest rates. The unemployment rate is forecast to be up slightly to 3.5% even though it is still hovering around 50-year lows. Average hourly earnings are predicted to have risen 0.3% month on month lower than the 0.5% recorded in April.
The newly coronated King Charles III has reduced the temperature of the pool at Buckingham Palace in order to cut the royal family’s energy usage. Charles is known for his environmentalism and climate-friendly policies. The palace’s energy bills are funded by the taxpayer through the sovereign grant, with £3.2m spent on bills last year. He reportedly wants to achieve net-zero emissions in the royal household ahead of the UK government’s goal of 2050. Last year, Charles was hailed by Tony Juniper, the chair of Natural England, as “possibly the most significant environmentalist in history”.
Republican Senator Ted Cruz has criticised the recent $4tn debt limit agreement between President Joe Biden and House Speaker Kevin McCarthy, referring to it as a "blank check" for Democrats. The two-year agreement would also cap spending in order to prevent national default. Cruz was part of a group of Republican officials from both chambers to attack the agreement.
A fight between rival gang members at the Memorial Day Motorcycle Rally in Red River, New Mexico resulted in the deaths of three people and injuries to six others. The incident occurred as police increased their presence in the town in anticipation of further brawls. One individual has been charged with murder, while another was arrested on unrelated charges of cocaine possession.
U.S. House Speaker Kevin McCarthy has predicted that the deal to suspend the $31.4tn debt ceiling secured with President Biden over the weekend will be supported by a majority of his fellow Republicans. McCarthy and Biden agreed the deal on Saturday but now face the challenge of getting a deal through the Republican-controlled House of Representatives and Democratic-led Senate. The deal suspends the debt ceiling until January 2025 and includes a "paygo" measure that requires the administration to ensure new spending does not increase the deficit. If the compromise loses the support of the far left and far right wings of each party, moderates from both sides will have to support the bill.
South Korea is hoping to become a leading global weapons supplier with its partner Poland following the countries' $13.7bn arms deal last year. The deal to supply Poland with hundreds of Chengmoo rocket launchers, K2 tanks, K9 self-propelled howitzers and FA-50 fighter aircraft increased South Korea's arms sales to $17bn in 2022, according to the country's defence ministry. Officials from South Korea and Poland have said that the partnership will also help them to conquer the wider European arms market. The deal created consortiums of South Korean and Polish companies, which will build the weapons, maintain the fighter jets and provide the framework to eventually supply other European states.
North Korea has informed Japan it will launch a satellite, which will take place between May 31 and June 11. Experts believe that the launch is an attempt by Pyongyang to install a military reconnaissance satellite to boost its surveillance of enemies in conflict zones, suggesting an intention to be better equipped to attack. Earlier this month, North Korea claimed that it had completed work on its first spy satellite. Japan has urged North Korea to refrain from the launch, emphasizing such a move would be a serious violation of United Nations Security Council resolutions.
Russian officials and media have called for the assassination of US Senator Lindsey Graham following the dissemination of an edited video in which a comment he made to Ukraine’s president was misconstrued. The video appeared to show Graham closing a discussion about US support for Ukraine by observing “the Russians are dying. It’s the best money we’ve ever spent”. However, his remarks referred to the US’s assistance to Ukraine rather than the deaths of Russians. Dmitry Medvedev, a senior aide to Russian President Vladimir Putin, referred to such assassination targets as Robert Kennedy and Huey Long, while state news channel RT’s head referred to the Soviet operative who played a key role in the assassination of Leon Trotsky: “It’s not even hard. We have his address.”
Russia fired more than 40 Iranian-made Shahed drones and missiles at Ukraine overnight, marking the largest aerial attack on the country to date. The attack included a combination of missiles and drones and was aimed at causing psychological distress to civilians. All targets were shot down by Ukraine's air defences, however, one person was killed and several others were injured in a barrage of 36 aerial weapons launched the previous night. Kyiv indicated that its forces are ready to launch a counteroffensive in a bid to recapture territory taken by Russia. Elsewhere, Russian forces also fired 67 air targets at Ukraine overnight, which were all destroyed.
Belarusian President Alexander Lukashenko said that if any other nation wanted to join the Russia-Belarus union, there could be “nuclear weapons for everyone". This comes a week after Russia moved to deploy tactical nuclear weapons in its ally Belarus. Several of the world’s largest companies have left or scaled back operations in Russia after Moscow launched a full-scale invasion of Ukraine last year. Foreign investors have withdrawn around $36bn from Russia after leaving the country and selling their businesses between March 2022 and March 2023.
The son of Japanese Prime Minister, Shinzo Abe, resigned today from his post as his aide after reports that he hosted a rowdy party at the Prime Minister's residence at the end of last year. Shinzo Abe's approval rating had recently increased to 47%, but could fall due to this scandal. Abe's popularity has also suffered from allegations of financial improprieties and links to the Unification Church.
Tesla CEO Elon Musk is reportedly travelling to China to visit the carmaker's Shanghai production plant and senior Chinese officials. It is Musk's first visit to China in three years and details of the meetings have not been disclosed. Tesla is the second-largest market in China for Tesla vehicles and its Shanghai plant is its largest production hub. Musk is reportedly seeking ways to increase output to 450,000 per year at the Shanghai plant and is seeking to expand production further by producing Megapack energy storage products.
Senior officials from the International Cricket Council (ICC) are visiting Pakistan to secure the country's participation in this year's 50-over World Cup in India. Poor relations between India and Pakistan over the last decade have meant that bilateral cricket has largely been abandoned, with the two neighbours playing each other only on neutral ground. The Board of Control for Cricket in India (BCCI) has declined to tour Pakistan for September's Asia Cup and wants the whole tournament to be held in a neutral country.
Russia’s Interior Ministry has issued an arrest warrant for US Senator Lindsey Graham after he praised America’s military aid to Ukraine as the “best money we’ve ever spent” during a meeting with Ukrainian President Volodymyr Zelensky which was posted on Zelensky’s social media account. The comments were criticised by Kremlin spokesperson Dmitry Peskov and Russian Security Council Deputy Chairman, Dmitry Medvedev, who described Graham as an “old fool”. The Investigative Committee has also opened a criminal case asserting that the Republican senator “declared the financial involvement of the United States is causing the death of Russian citizens”. Graham dismissed the criticisms by Russian officials as “propaganda” and added: “Mr. Medvedev, if you want Russians to stop dying in Ukraine, withdraw. Stop the invasion. Stop the war crimes. The truth is that you and Putin could care less about Russian soldiers."
Singaporean sovereign wealth fund, Temasek, has docked wages for staff involved in a $275m investment in cryptocurrency exchange, FTX, which collapsed in November 2021. The move has been taken as a form of "collective accountability" for the failed investment, despite there being no evidence of misconduct by Temasek's investment division. Temasek had previously initiated an internal review of the failed investment, which led to the written-off of the entire $275m. Following FTX's collapse, it was revealed that there had been fraudulent conduct "intentionally hidden from investors, including Temasek".
In response to the failed investment, Temasek has emphasised its commitment to early-stage investments and emerging technologies, stating that it must invest in these areas to understand how they may have an impact on existing portfolio models and whether they would be drivers of future value. Temasek’s Chairman, Lim Boon Heng, said that the company hoped to deliver sustainable returns over the long term by investing in new sectors.
FTX, founded in 2019 by American entrepreneur Sam Bankman-Fried, was once one of the world’s most valuable start-ups, with over 1m users at its peak. However, the collapse of the cryptocurrency exchange led to a dent in Temasek’s reputation, prompting the company to take responsibility for the failed investment and to indicate plans to cut staff compensation as a means of demonstrating its commitment to accountability to stakeholders and the market.
An Indian federal police document reveals that a graft case has been filed against British firms BAE Systems and Rolls Royce for "criminal conspiracy". The case is based on evidence found by the Central Bureau of Investigation's (CBI) 2016 probe into 123 advanced jet trainers. The manucfacturers paid commissions to middlemen, in violation of Indian defence contract rules, who got the contracts via "undue influence" on government officials. Rolls-Royce said it is continuing to help with the probe and the allegations were disclosed in 2017 when it paid a fine to British authorities.
Tennis star Novak Djokovic began the French Open with a 6-3 6-2 7-6 (7-1) victory over American Aleksandar Kovacevic, as he aims to secure his 23rd Grand Slam singles title. The victory put an end to Djokovic's problematic build-up to the event, during which he was eliminated during the quarter-finals in Rome and missed the Madrid Championships. Elsewhere, former Grand Slam runners-up Anastasia Pavlyuchenkova and Sloane Stevens enjoyed successes in their opening matches, with Pavlyuchenkova enjoying a dominant win, while Stephens provoked concern over the rise of racist abuse towards the players.
US department store Kohl’s has faced criticism from customers over clothes for babies and children featuring the rainbow flag and the abbreviation of different gender and sexuality identities. The chain recently launched its own line, created as part of Pride Month in June. Some Twitter users criticised particularly a grey onesie that showed members of an updated Pride flag along with the brand's tagline and "Be proud of who you are", as inappropriate. The boycott threat follows the announcement by Target last week that it was removing Pride Month merchandise due to complaints and threats to its staff.
Uganda has signed a LGBTQ+ law containing one of the world's toughest stances against the community. Notably, the law includes the death penalty for "aggravated homosexuality," included as "serial offenders" and is amongst several other regulations targeting the community. The Ugandan government had attempted a less prohibitive version in 2014, which was immediately struck down. However, Western governments have historically imposed visa restrictions and suspended aid, which could pose a similar outcome to this new legislation. Human rights advocates worldwide have critiqued the law with US President Joe Biden stating it as a "tragic violation" of human rights and considering additional steps, including sanctions and restriction of entry to the US against anyone associated with human rights abuses or corruption.
