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ICE to launch 0.5% futures contracts

The Intercontinental Exchange said on Thursday that it plans to launch 0.5% futures contracts in February ahead of the IMO 2020 fuel sulphur cap, settling against S&P Global Platts physical marine fuel 0.5% assessments. Link (S&P Global)

Hostage Taking: The new Medieval Practices of Deglobalization

Deglobalization has taken on a new twist: the taking of economic hostages. In a return to a medieval form of warmaking, rival countries are arresting senior executives from overseas. Japanese prosecutors, on the last day possible, have charged Renault CEO Carlos Ghosn with under-reporting his pay for five years. Presumably they should be paying a visit to the Renault-Nissan-Mitusbishi alliance's auditors, but they have instead made a political statement. Ghosn was masterminding a full merger between Renault and Nissan which was unpopular in Japan. Nissan and Mitsubishi both sacked Mr Ghosn last month after his arrest. France, now in its fifth week of civil unrest aimed at an aloof and techno

Trade Truce

After considering the news around the G20 Summit in Buenos Aires, I found myself alarmed that just a few of the 20 national leaders at that meeting hold so much sway over all of our lives. Perhaps I am a naïve old lefty, but there seemed to be a higher proportion of autocrats to democrats in the ‘family photo’ than I am used to seeing, especially if one included the wannabe autocrats. Fortunately, G20 summits rarely conclude policy, being more a photo opportunity for the leaders to show their domestic populations how important they are in an important peer group. Still, there was potentially some good news for shipping at the meeting as the US agreed to withhold for 90 days its next tranche

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