World Biz
US, Canada, Mexico Leaders show unity despite friction
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US President Joe Biden, Mexican President Andrés Manuel López Obrador and Canadian Prime Minister Justin Trudeau sought to downplay their frustrations with one another on migration and trade as they met for the near-annual North American Leaders Summit.
The leaders offered a unified front on Tuesday (10 January) despite tensions that have put a strain on their relationships even as Biden has made repairing alliances a cornerstone of his foreign policy agenda.
The tensions were front and center when Biden and López Obrador met on Monday (9 January) with the Mexican president complaining of “abandonment” and “disdain” for Latin America.
But as they closed Tuesday’s summit in Mexico City with a joint news conference, the leaders offered an optimistic outlook.
“We’re true partners the three of us,” said Biden, adding that they had “genuine like” for one another. “We share a common vision for the future, grounded on common values.”
López Obrador, for his part, thanked Biden for not building “even one meter of wall,” a not so subtle dig at Biden’s Republican predecessor, Donald Trump. The warmth during their joint press conference stood in stark contrast to the more brusque exchange a day earlier.
Still, López Obrador prodded Biden to “insist” Congress regularize undocumented Mexican migrants who work in industries where American employers are struggling mightily to find enough workers.
The three-way gathering is held most years, although there was a hiatus while Trump was president. It’s often called the “three amigos summit,” a reference to the deep diplomatic and economic ties among the countries.
However, the leaders have found themselves at odds, especially as they struggle to handle an influx of migrants and to crack down on smugglers who profit from persuading people to make the dangerous trip to the United States.
In addition, Canada and the U.S. accuse López Obrador of violating a free trade pact by favoring Mexico’s state-owned utility over power plants built by foreign and private investors. Meanwhile, Trudeau and López Obrador are concerned about Biden’s efforts to boost domestic manufacturing, creating concerns that U.S. neighbors could be left behind.
Trudeau emphasized in a one-on-one meeting with Biden the benefits of free trade and warned against Buy America policies that the U.S. administration has promoted, according to the prime minister’s office. Nearly 80% of Canada’s exports go to the U.S., so avoiding protectionism remains a priority for Canada.
The key takeaways from the summit revolve around better connections among the three nations and a shared goal of a stronger North America on energy and in particular semiconductors, climate and a pledge to cut methane emissions, an agreement to manage large waves of migrants coming to the region and a more cohesive regional strategy on dealing with future pandemic-related health threats.
In their talks on Monday, López Obrador challenged Biden to improve life across the region, telling him that “you hold the key in your hand.”
“This is the moment for us to determine to do away with this abandonment, this disdain, and this forgetfulness for Latin America and the Caribbean,” Lopez Obrador said.
Biden responded by pointing to the billions of dollars that the United States spends in foreign aid around the world.
Biden and Trudeau also discussed their countries’ efforts to support Ukraine nearly 11 months after Russia’s invasion. Canada announced Tuesday that it would buy an American-made National Advanced Surface to Air Missile System, or NASAMS, to be donated to Ukraine. The medium-range ground-based air defense system, which protects against drone, missile and aircraft attacks, costs about $406 million and brings Canada’s contribution to Ukraine to more than $1 billion since the start of the war.
The White House said in a statement that the leaders also discussed “the generational opportunity to strengthen supply chains for critical minerals, electric vehicles, and semiconductors.” The U.S. administration also announced that Biden will make his first visit to Canada as president in March.
“There’s a lot of reasons to be optimistic, especially for those of us in our countries,” Trudeau said. “But it’s going to take a lot of work, something neither you or I or most our citizens have ever been afraid of.”
Biden and López Obrador haven’t been on particularly good terms for the past two years. The Mexican leader made no secret of his admiration for Trump, and last year he skipped a Los Angeles summit of the Americas because Biden didn’t invite the authoritarian leaders of Cuba, Venezuela and Nicaragua.
But despite the tension, there’s been cooperation. The U.S. and Mexico have also reached an agreement on a major shift in migration policy, which Biden announced last week.
Under the plan, the U.S. will send 30,000 migrants per month from Cuba, Nicaragua, Haiti and Venezuela back across the border from among those who entered the U.S. illegally. Migrants who arrive from those four countries are not easily returned to their home countries for a variety of reasons.
In addition, 30,000 people per month from those four nations who get sponsors, background checks and an airline flight to the U.S. will be able to work legally in the country for two years.
The number of migrants crossing the U.S.-Mexico border has risen dramatically during Biden’s first two years in office. There were more than 2.38 million stops during the year that ended Sept. 30, the first time the number topped 2 million.
López Obrador spoke at length about Mexico’s efforts to control the flow into the United States of fentanyl, the synthetic opioid that has become a scourge for many American communities. He noted that his government gave the military control of sea ports to help with the interdiction of precursor chemicals coming from Asia.
“We are battling fentanyl, these chemicals, and we are doing it because we care. No human is foreign to us,” he said. “It really matters to us to be able to help with what is happening in the United States, the deaths from fentanyl. But also as we discussed today, it is not only an issue for the United States, because if we don’t confront this problem, this scourge, we are going to suffer it, too. So we have to act in a coordinated way.”
Canada is being nudged by the U.S. and other allies to lead an international mission to Haiti to help solve the ongoing humanitarian and security crisis.
Haitian Prime Minister Ariel Henry and the country’s Council of Ministers sent an urgent appeal Oct. 7 calling for “the immediate deployment of a specialized armed force, in sufficient quantity” to stop the crisis caused partly by the “criminal actions of armed gangs.” But more than three months later, no countries have stepped forward.
Trudeau on Tuesday called the situation “heartbreaking.” Both he and Biden said they will work with the United Nations Security Council to assist the Caribbean nation but also expressed caution about direct intervention.
“We need to make sure that the solutions are driven by the people of Haiti themselves,” Trudeau said.
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World Biz
7-Eleven owner rejects initial takeover bid from Canadian rival
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The Japanese owner of 7-Eleven said Friday it had rejected a takeover bid from Canadian retail giant Alimentation Couche-Tard, saying the proposal “grossly undervalues” the company.
The proposed purchase of Seven & i Holdings would be the biggest ever foreign takeover of a Japanese firm and combine 7-Eleven, Circle K and other brands across Asia, North America and Europe.
As the world’s biggest convenience store chain, 7-Eleven operates more than 85,000 outlets globally.
Although the brand began in the United States, since 2005 it has been wholly owned by Seven & i.
A letter from the Seven & i board to Alimentation Couche-Tard (ACT) said it was open to “engaging in sincere discussions should you put forth a proposal that fully recognises our standalone intrinsic value”.
“We do not believe, for several critical reasons, that the proposal you have put forward provides a basis for us to engage in substantive discussions regarding a potential transaction,” it said.
ACT operates more than 16,700 outlets in 31 countries and territories.
Its purchase of Seven & i would be the biggest ever foreign takeover of a Japanese firm and create an international convenience store behemoth combining 7-Eleven, Circle K and other brands across Asia, North America and Europe.
Seven & i said ACT had offered $14.86 per share in cash, which roughly matches its market value of $39 billion.
But the board’s letter called the proposal “opportunistically timed” and said it “grossly undervalues our standalone path and the additional actionable avenues we see to realise and unlock shareholder value”.
It also raised regulatory concerns.
“Your proposal does not adequately acknowledge the multiple and significant challenges such a transaction would face from US competition law enforcement agencies,” it said.
A quarter of 7-Eleven stores are found in Japan where they are a beloved institution, selling everything from concert tickets to pet food and fresh rice balls.
Seven & i Holdings’ other businesses include a major supermarket operator, restaurant chain Denny’s, and Tower Records — a once-popular US record store that went bankrupt.
Seven & i has reportedly asked the Japanese government to designate parts of the company as “core”, which would make a takeover more difficult.
Brands with the “core” rating in Japan include manufacturers in the nuclear, space, rare earths and chip industries, as well as cybersecurity and infrastructure operators.
The Canadian firm, however, is confident that it can have its way.
CEO Brian Hannasch told an earnings briefing in New York on Thursday that Couche-Tard could “even consider a higher leverage if needed”, indicating it has the capacity to raise more funds, according to Nikkei Asia.
“We have the solid and robust balance sheet,” Nikkei quoted Hannasch as saying.
Shares in Seven & i were down 1.9 percent in Tokyo on Friday.
World Biz
After Telegram founder arrest, Russians fear loss of ‘main information source’
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France’s arrest of Telegram chief Pavel Durov has raised fears in Russia that the popular messaging app — used both by the Kremlin and its opponents — could be blocked, depriving them of one of the last sources of critical, uncensored news.
Since the start of its offensive in Ukraine in February 2022, Russia has cracked down on dissent and protest, leaving Russians without independent news outlets or access to Western social media such as Facebook, Instagram and X, formerly Twitter.
In that climate, Telegram — which was itself blocked for a period by the Kremlin for refusing to cooperate with Russian law enforcement agencies — has become one of the last bastions of free speech and uncensored information.
Moscow now fears for the fate of the messenger and its Russian-born founder Durov, charged late August with failing to curb extremist and illegal content on the platform.
Though he has been released on bail, he cannot leave the country and the Kremlin has warned France against turning the case against him “into political persecution.”
Durov’s arrest is not the only headache the privately-owned service faces.
The European Commission is also investigating whether Telegram has more EU users than claimed and must therefore comply with more stringent rules.
– ‘For all Russians’ –
In Russia, Telegram channels widely cover subjects that are otherwise strictly censored in state media.
That includes everything from front-line reports of the conflict in Ukraine to trials of Kremlin critics and manifestos dispatched from political prisoners.
The most popular channels have millions of subscribers.
The Kremlin, government ministries and regional governors also use Telegram as their go-to public communications tool.
“Telegram is a very practical and reliable messaging service for all Russians, regardless of their political opinions,” said Alexei Venediktov, head of the Echo of Moscow radio station, blocked in Russia after its criticism of the Ukraine offensive.
The messaging service “is considered independent of the Russian state,” the veteran journalist — who has over 200,000 subscribers there — told AFP.
Blocking Telegram would be equivalent to “a measure of censorship,” he said.
– ‘Main source of information’ –
Telegram’s popularity has grown steadily in Russia throughout the Ukraine conflict, after Russia blocked access to Instagram, Facebook and X, as well as the websites of several opposition media outlets.
It is the fourth most popular online service, ahead of YouTube and the Russian social network VKontakte, according to a study by Russian media research group Mediascope.
It is also heavily focused on news. Two-thirds of its Russian readers prefer to follow political and news channels, with only six percent preferring entertainment or cinema, for instance.
Mila, a 45-year-old psychologist, said she started using it after Facebook was blocked and she now subscribes to some 80 Telegram news channels. She also uses it to communicate privately with friends who are against the offensive in Ukraine.
“Today, it is my main source of information. If Telegram stops working, it will hurt me a lot,” Mila told AFP, speaking on condition her full name not be used.
Naida, a 56-year-old logistician said she trusts Telegram more than other messaging services.
“And all the news is there, you don’t need to have a VPN on all the time,” she said.
Telegram is now “the main source of information” for those seeking independent views, said political scientist Tatiana Stanovaya of the Carnegie Russia Eurasia Center.
“Telegram has no alternative” in Russia, she said, adding the free flow of information on the service is a throwback to before President Vladimir Putin began to crack down hard on dissent.
– Battlefield communications –
Amid the conflict in Ukraine, the platform has also become a key military communication tool.
Both Russia and Ukraine warn their populations of incoming air attacks via Telegram posts, while their armies use it to communicate and coordinate internally.
“Telegram has almost become the main way of commanding units on both sides of the front,” said Mikhail Zvinchuk, a former military officer whose Telegram blog on the conflict, Rybar, has more than 1.3 million subscribers.
Pro-Kremlin Russian journalist Andrei Medvedev also said Telegram was “the main messaging service” of the conflict.
“It is an alternative to the secret military communication system,” he said.
Thanks to its broad appeal across the political spectrum, the fate of Durov and the implications for the site have become a rare point of unifying concern.
Russian opposition politician Ilya Yashin, recently released as part of a historic prisoner exchange with the West, is among those who have taken Durov’s side.
“I do not consider Pavel Durov a criminal, and I hope that he will be able to prove his innocence,” Yashin said.
Economy
UN Chief Guterres Pledges Support to Bangladesh’s Interim Govt for Democratic Restoration
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United Nations (UN) Secretary-General António Guterres has pledged the UN’s full support to Bangladesh’s interim government in its efforts to restore an inclusive and prosperous democracy. In a message directed to Chief Adviser Prof Dr. Muhammad Yunus, Guterres expressed his best wishes following Yunus’s assumption of the interim government’s leadership and lauded the efforts to bring stability and organize parliamentary elections in Bangladesh.
“Bangladesh is at a pivotal moment in its history,” Guterres remarked. “The United Nations is fully committed to supporting the efforts towards an inclusive and prosperous democracy. We are ready to work closely with your government and provide any necessary assistance through the Resident Coordinator and the United Nations Country Team to benefit the people of Bangladesh.”
Guterres emphasized that during this transitional phase, Prof Yunus’s leadership will be critical in ending violence, ensuring accountability, restoring law and order, and steering the country towards democratic elections.
He also underscored the importance of adopting an inclusive approach by the interim government, highlighting the need to consider the voices of youths, women, minorities, and indigenous communities.
Additionally, the UN Secretary-General urged the interim government to ensure the protection of all citizens, particularly minorities, and expressed concern over the situation of Rohingya refugees. “I strongly encourage you to safeguard the wellbeing of Rohingya refugees, especially in light of the worsening situation in the Republic of the Union of Myanmar,” he stated.