From Headlines From Clear Law…

In today’s news, I bring to you the Top 5 news:

1. Biden to warn Beijing against meddling in the South China Sea;

2. Foreign deals help the City’s bankers net £466m in fees;

3. The looming rise in Student numbers sparks calls for skills reform in England;

4. Food Inflation across rich nations drop to pre-Ukraine war levels; and

5. Retail insolvencies jump by a fifth.

and much more to stay tuned for.

Detailed Report for the Day consists of:

Biden to Warn Beijing against meddling in the South China Sea

The already-fraught tensions between the US and China look set to continue as Biden is likely to warn China about its increasingly aggressive activity in the South China Sea regarding the submerged reef in the Spratly Islands.

The Chinese coastguard has used water cannons to prevent the Phillippines from resupplying marines stationed on the Sierra Madre, a rusting ship that Manila intentionally grounded on the reef in 1999 to reinforce its claims to the feature.

The Chinese say that Manila is bringing construction materials to the shoal to reinforce the ship, thereby reneging on a promise made several years ago to move it - and so the Chinese coastguard has been using water cannons to prevent the marines from being resupplied.

There is an agreement in place called the US-Philippine Mutual Defense treaty which could potentially be triggered if the Chinese get too aggressive as the US/ Phillippine side says that the treaty covers all the Sierre Madre.

This means: that there is a lot to discuss between these countries.

Foreign Deals help the City’s bankers net £466m in fees

The latest figures from Dealogic say that City bankers are going to be sharing in €543m worth of fees for advising on a rising number of deals involving foreign firms taking over British ones over Q1. It is thought that expectations of falling interest rates and lower inflation are helping to give CEOs more confidence to do deals after a very trying 18 months. Nationwide’s £2.9bn planned takeover of Virgin Money and the potential takeover of FTSE100 paper manufacturer DS Smith are upcoming deals that could prolong the feelgood.

Looming Rise in Student numbers sparks calls for skills reform in England

A report by The Association of Colleges, due to be published this week, shows that more educational opportunities need to be created for those not studying traditional degrees because they say that the number of first-year undergrads in England entering higher education will rise by about a third by the end of the decade. The AOC says that his major jump in numbers will put a massive strain on education budgets throughout the next parliament and suggested that more apprenticeships and higher technical qualifications should be provided.

This means: that although Universities make a £2,500 loss per domestic student at the moment, according to the estimates by the Russell Group of research universities - the number is expected to double by 2030.

Food inflation across the rich nations drop to pre-Ukraine war levels

The latest data from the OECD highlights a welcome trend after a turbulent two years. This slowdown in price growth will certainly ease financial pressures on many households and has been largely powered by the fall in agricultural commodity prices and the recovery of supply chains following the initial shock when Russia invaded Ukraine.

This means: that there seems to be some improvement in the economy.

Retail Insolvencies jump by a fifth

Research by accountancy firm Mazars shows that retail insolvencies jumped by almost a fifth over the past year as higher interest rates pummelled those who’d loaded up on cheaper debt before interest rates went stratospheric. Retailers will take more of pasting this month when the increase in the national living wage will kick in and when many of them will also be hit by a hike in business rates.

This means: that some luxury UK retailers are hoping that they will be able to lure shoppers to London because people's movements in Paris will be highly restricted during the Games.

Editor's Self-Talks -  

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