00000000 USAF B-52 Stratofortress se of DC at low altitude-2100ft from Barksdale AFB, LA
SAM514 USAF G5 departed JBA south
SPAR80 USAF G5 ne from Moody AFB-Valdosta, GA
morning
Saudi Aramco Borrows Again to Fund Dividend Pledge Despite Oil Recovery
Saudi Aramco’s return to the global debt markets this week demonstrated the oil giant’s need to raise cash despite high energy prices, as it issued its inaugural dollar-denominated Islamic bond to meet a dividend pledge and complete a costly acquisition.
Saudi Arabian Oil Co., as the world’s largest listed oil company is officially called, raised $6 billion in Islamic bonds, or sukuk, on Wednesday, according to people familiar with the issue. It last sold $8 billion in conventional bonds in November when oil prices were floundering due to the coronavirus pandemic.
An Aramco spokesperson said the company was raising funds for general corporate purposes. Oil prices have rebounded in recent months, easing some pressure on Aramco, but it would still need to borrow to meet its commitments, analysts said.
Aramco pledged to pay an annual $75 billion dividend in a bid to lure investors to an initial public offering in 2019. It also agreed to pay $69 billion for a majority stake in Saudi Arabia’s national petrochemicals firm in a deal encouraged by the Saudi government, which owns 98% of Aramco and relies on the dividends for much of its funding
https://www.wsj.com/articles/saudi-aramco-borrows-again-to-fund-dividend-pledge-despite-oil-recovery-11623416858
00000000 USAF B-52 Stratofortress passed over DC at low altitude
SAM514 USAF G5 on descent for Key West-Marathon Airport most likely
>>61989, >>62004, >>62010 pb Income redistribution coming
G7 eyes allocating $100 billion from IMF funds to COVID-ravaged nations-US
The United States and other Group of Seven nations are considering reallocating $100 billion from the International Monetary Fund’s warchest to help countries struggling most to cope with the COVID-19 crisis, the White House said.
The issue will be on the table when G7 leaders discuss how to help steer the world’s recovery from the coronavirus pandemic at a three-day summit in Cornwall, southwestern England, which begins on Friday. “The United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need,” the U.S. president’s office said. “At potentially up to $100 billion in size, the proposed effort would further support health needs – including vaccinations – and help enable greener, more robust economic recoveries in vulnerable countries, and promote a more balanced, sustained, and inclusive global recovery.” The U.S. has targeted the SDR allocation to be distributed around the “late (northern) summer” and on Friday said: “We strongly support the effort to recycle SDRs to further support health needs.” SDRs are the IMF’s reserve asset, and are exchangeable for dollars, euros, sterling, yen and Chinese yuan or renminbi. French President Emmanuel Macron on Thursday called on the other G7 nations to find an agreement on reallocating $100 billion in SDRs to African states.
World finance chiefs agreed in April to boost SDRs by $650 billion and extend a debt-servicing freeze to help developing countries deal with the pandemic, although only $34 billion was to be allocated to Africa.
https://www.reuters.com/article/g7-summit-imf/update-1-g7-eyes-allocating-100-bln-from-imf-funds-to-covid-ravaged-nations-us-idUSL5N2NT3K8
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This AC was at Lackland AFB as COMAL08 on Monday....
>>61520, >>61524 pb Active Shooter warning for all JBSA-Lackland personnel.
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South Korea's President Moon heads for G-7 summit overshadowed by China
South Korean President Moon Jae-in was set to depart on Friday (June 11) for the Group of Seven (G-7) summit in Britain, where talk of countering China could overshadow Seoul's efforts to be seen as a bigger player on issues such as climate change and the Covid-19 pandemic. South Korea is one of several guest nations invited to the G-7 meeting as the rich democracies try to show the world they can still act in concert to tackle major crises by donating hundreds of millions of Covid-19 vaccines to poor countries and pledging to slow climate change. "We will show our leadership at the G-7 in formulating joint responses to pressing global challenges, including health issues and climate change," a senior presidential official told reporters.
https://www.straitstimes.com/asia/east-asia/south-koreas-moon-heads-for-g-7-summit-overshadowed-by-china
MADRS500 RAF Airbus A330 back to off Cornwall from RAF Brize Norton
French AF FAF9025 E-3 Sentry AWACS west of Cornwall
Russia raises key rate to 5.5%, flags more hikes to curb inflation
Russia’s central bank raised its key interest rate by 50 basis points to 5.5% on Friday and said more hikes would be needed to rein in high inflation.
After slashing the rate to a record low of 4.25% last year during the COVID-19 pandemic, the central bank has now raised it three times in 2021 to slow inflation that shot above its target in November and is on track to accelerate further. “Our main task is to normalise the price growth rates,” Governor Elvira Nabiullina said. She said the board had considered an even bigger rise of 75 or 100 basis points and that another rate hike was highly probable when they next meet on July 23.
Analysts polled by Reuters had forecast the key rate would rise from 5% to 5.5%, its highest since April 2020. The rise in borrowing costs came after annual consumer inflation, the central bank’s main area of responsibility, overshot expectations and accelerated to 6% in May, a level not seen since October 2016 when the key rate was at 10%. The central bank, which has warned inflation is set to speed up further, said increased inflationary pressures pointed to “the necessity of further increases in the key rate at the upcoming meetings”.
It said inflation had climbed to 6.15% as of June 7 and would only return to target in the second half of 2022, later than expected. “Another 50 bp rate hike at the next policy meeting ... appears very probable, after which the CBR may opt to take a pause to evaluate how this year’s aggressive rate-hiking is sifting through the economy,” Citi said in a note. “Based on the wording, the range of the most likely key rate ceiling for this year has shifted from 5.5-6.0% to 6.0-6.5%,” ING analysts said. Inflation expectations among Russians have reached a four-year high with the pace of economic growth exceeding expectations.
The rouble, which has been battered recently by a new wave of Western sanctions, firmed to 71.55 against the dollar after the rate announcement, its strongest since July.
https://www.reuters.com/article/russia-economy-rates/update-2-russia-raises-key-rate-to-5-5-flags-more-hikes-to-curb-inflation-idUSL5N2NT1Y6
shit show cause you know who 'arrived'
morning
Merkel's Last G-7 Summit Marred By COVID Outbreak At Hotel Housing German Delegation
As leaders of the world's wealthiest countries prepared to meet for the G-7 summit beginning Friday, the German delegation (led by Chancellor Angela Merkel) experienced a close call as one of the hotels where they were scheduled to say reported a fresh COVID-19 outbreak. According to Bloomberg, members of Merkel's security detail were already checked in at the Pedn Olva hotel in the host town of St. Ives when local staffers tested positive.
The Chancellor is still expected to attend the G-7 Summit in Cornwall, though Bloomberg's sources wouldn't say where she's expected to stay, or how her delegation responded to the outbreak. A spokesperson for No. 10 Downing Street confirmed to the press that Merkel is still expected. The summit kicked off at around 1100 local time in the region along the southwestern coast of England.
Merkel received her first jab a few weeks back, but is not yet fully vaccinated. Given a recent spike in British COVID-19 cases, some Germans questioned whether it would be wise for Merkel to attend in person. PM Johnson is now reportedly mulling delaying the final stage of the pandemic lockdowns.
Germany's public health officials have yet to remove the UK from the country's list of high-risk countries. Any other travelers to the UK must quarantine for two weeks after returning to Germany. According to Merkel, the biggest "concern" for German public health officials is the "Delta" variant, the new name for the mutant strain first discovered in India that helped to drive that country's recent outbreak. The Delta variant has been found to be circulating in the UK, where public health officials are closely monitoring the situation.
But this is the last G-7 Summit for Merkel before she finally retires after 16 years in power.
https://www.zerohedge.com/geopolitical/merkels-last-g-7-summit-marred-covid-outbreak-hotel-housing-german-delegation
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Amazon, Other Tech Giants Could Be Forced to Shed Assets Under House Bill
House lawmakers are preparing to propose bipartisan legislation that could require Amazon Inc. and other technology giants to effectively split into two companies or shed their private-label products, according to people familiar with the matter and documents viewed by The Wall Street Journal.
The bill, which the people said could be announced Friday, could mandate structural separation of Amazon and other big technology companies that Congress spent 15 months investigating as part of an inquiry into the size and power of Big Tech. Another bill that also could be announced Friday targets the ability of big technology companies to leverage their online platforms to favor their own products over competitors. Each of the bills has both Republicans and Democrats signed onto it, with more expected to join once they are announced, according to a person familiar with the matter.
Called the Ending Platform Monopolies Act, a draft of the proposed structural separation bill reviewed by the Journal says: “It shall be unlawful for a covered platform operator to own or control a line of business, other than the covered platform, when the covered platform’s ownership or control of that line of business gives rise to an irreconcilable conflict of interest.” That language could change in the bill’s final draft. The proposed legislation would need to be passed by the Democratic-controlled House as well as the Senate, where it would likely also need substantial Republican support. While Republicans are concerned about technology companies’ power, many are skeptical about changing antitrust laws.
https://www.wsj.com/articles/amazon-other-tech-giants-could-be-forced-to-shed-assets-under-house-bill-11623423248
Korean AF KAF001 747 on descent for Cornwall Newquay Int'l with JASDF JF002 777 PM Suga support AC inbound from Tokyo-Haneda depart