Warren Buffett's successor Greg Abel's role at Berkshire Hathaway, disagreement between US and Europe over managing Russia's frozen assets, President Xi Jinping's visit to Europe, college students pushing for divestment from Israel, and challenges with divestment.
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Xi Jinping balances trade relations with Europe through charm and toughness
US and Europe disagree on managing Russia's frozen assets, highlighting legal and stability concerns
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Xi Jinping's Mission in Europe
Chinese President Xi Jinping is in Europe to avoid a trade war and navigate EU investigations into Chinese companies. Europe, as China's second-largest trading partner, requires Xi to balance charm with toughness, threating export restrictions. Despite facing scrutiny, Xi plans to leverage Chinese investments in friendly nations like Serbia and Hungary.
Debate Over Russia's Frozen Assets
After Russia's invasion of Ukraine, Western allies froze billions of euros of Russian assets, sparking discussions on redistributing them to Ukraine. The US supports confiscation, arguing for giving the money to Ukraine due to Russia's aggression. However, European nations fear legal precedents affecting state immunity and monetary stability, resulting in divided opinions on handling these frozen assets.
Challenges of University Divestment
US college students are urging universities to divest from Israel, mirroring past divestment movements. However, modern investment complexities make divestment challenging, with universities holding diverse portfolios in index-tracking funds and private investments. Responding to student pressure, some schools aim to assess the feasibility and implications of divesting while exploring technological solutions for more targeted investment strategies.
Warren Buffett said Greg Abel should have the final decision on investments at Berkshire Hathaway, the US and Europe disagree on how to manage Russia’s frozen assets, and Chinese President Xi Jinping visits Europe. Plus, college students in the US are calling for their universities to divest from Israel, but it’s not that simple.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.