FT News Briefing Trump withdrawing from WHO, Italian mafia bonds, US offshore wind power
Jul 8, 2020
The U.S. is taking steps to withdraw from the World Health Organization, raising questions during a global health crisis. Meanwhile, international investors are linking up with Italy's notorious mafia through their bonds. In a greener twist, spending on U.S. offshore wind power is set to soar, potentially rivaling investments in offshore oil. The conversation also highlights the struggle of low-wage workers, especially in warehouses, where their fight for better treatment and safety has gained urgency amid the pandemic.
AI Snips
Chapters
Transcript
Episode notes
US Withdrawal from WHO
- The U.S. has formally notified the UN of its withdrawal from the WHO.
- This decision follows President Trump's accusations of the WHO covering up COVID-19's origins.
Mafia Bonds
- Italy's most powerful mafia group, the 'Ndrangheta, backed bonds sold to international investors.
- These bonds, estimated at €1 billion, were linked to assets created by 'Ndrangheta front companies.
US Offshore Wind Power
- U.S. offshore wind power investment is nearing oil drilling investment levels.
- This shift is driven by East Coast states prioritizing wind power and declining upfront project costs.