The European Union's two most powerful leaders, Germany's Angela Merkel and France's Emmanuel Macron, will meet just days <a href="https://www.wionews.com/world/uk-brexit-minister-to-meet-eu-negotiator-thursday-london-254756">before a crunch Brexit summit next week</a> which Britain says is the last chance to secure an orderly departure from the bloc.

As the clock ticks down to the October 31 departure date, Brexit descended into a public row between London and Brussels this week as both sides position for another delay followed by an election or an acrimonious divorce.

After a Downing Street source said a Brexit deal was essentially impossible because German Chancellor Merkel had made unacceptable demands, the EU accused Johnson of playing a "stupid blame game".&nbsp;

Macron will meet Merkel at the Elysee Palace this coming Sunday to discuss European affairs ahead of the October&nbsp;17-18 EU summit and preparations for a Franco-German summit on October&nbsp;16, Macron's office said.

EU diplomats, though, are sceptical about the chances of a deal. Most expect Johnson to be forced to accept a delay to Brexit - a step that could ultimately lead to either a disorderly exit or the reversal of the entire Brexit endeavour.

"There will be no rabbit-out-of-the-hat solutions," one EU official told Reuters. "There will be more talks and more political contacts. But, for the time being, there is no breakthrough to be reported."

Johnson has repeatedly cast the EU summit next week as the last chance for the <a href="https://www.wionews.com/world/irish-pm-says-very-difficult-to-secure-brexit-deal-by-next-week-254692">EU to strike a deal or face the disruption of a no-deal Brexit</a> that would divide the West, threaten the unity of the United Kingdom and roil financial markets.

A week ago, he proposed a possible solution to ensure the border between the British-ruled province of Northern Ireland and EU member Ireland does not become a backdoor into the EU's single market and customs union.

The EU's cool reaction to his proposals indicates that, short of an unexpected last-minute breakthrough, Johnson will have to decide whether to accept another delay or to go for a no-deal Brexit and get around a law demanding the&nbsp;extension.

Johnson's Brexit

The EU's executive agreed on Wednesday with the assessment of the bloc's Brexit negotiator that the British proposals did "not represent a satisfactory solution", the bloc's top budget official, Guenther Oettinger, said.&nbsp;

<a href="https://www.wionews.com/world/eu-ready-to-make-major-concession-on-brexit-deal-the-times-newspaper-254717">In the Brexit maelstrom where newspaper reports and contradictory tweets can send sterling into gyrations</a>, EU officials denied a report in The Times that the bloc was preparing a major concession to Britain to secure a Brexit deal.

"Unfortunately, no bold new offer is coming from the EU side at this stage," an EU official said while stressing that the bloc was not closing the door to more talks with Britain.

Britain's Brexit minister Steve Barclay was due to have lunch with EU chief Brexit negotiator, Michel Barnier, on Thursday "to check if there is any more flexibility on the UK side to head for a deal. For now, there seems to be none," a diplomat said.

Behind the rhetoric, the Brexit finale will ultimately be decided by Merkel, Macron, Johnson, European Commission President Jean-Claude Juncker and Irish Prime Minister Leo Varadkar - all of whom say they want an orderly exit.

Johnson and Varadkar could meet later this week.

With chances of a deal receding, the focus was turning back to British domestic politics where Johnson is under intense pressure from opponents to delay Brexit.

Anti-Brexit campaigners claimed victory after Scotland's highest court decided on Wednesday to wait before ruling whether to force Johnson to seek a delay to Britain's EU divorce date if he has not struck a deal in the next ten days.

British government lawyers had told the court that Johnson accepted that he must carry out the requirements of the law demanding a delay, even though he has publicly rejected asking for any further extension.

The European Union's two most powerful leaders, Germany's Angela Merkel and France's Emmanuel Macron, will meet just days before a crunch Brexit summit next week which Britain says is the last chance to secure an orderly departure from the bloc.

The European Union's two most powerful leaders, Germany's Angela Merkel and France's Emmanuel Macron, will meet just days before a crunch Brexit summit next week which Britain says is the last chance to secure an orderly departure from the bloc. As the clock ticks down to the October 31 departure date, Brexit descended into a public row between London and Brussels this week as both sides position for another delay followed by an election or an acrimonious divorce. After a Downing Street source said a Brexit deal was essentially impossible because German Chancellor Merkel had made unacceptable demands, the EU accused Johnson of playing a "stupid blame game". Macron will meet Merkel at the Elysee Palace this coming Sunday to discuss European affairs ahead of the October 17-18 EU summit and preparations for a Franco-German summit on October 16, Macron's office said. EU diplomats, though, are sceptical about the chances of a deal. Most expect Johnson to be forced to accept a delay to Brexit - a step that could ultimately lead to either a disorderly exit or the reversal of the entire Brexit endeavour. "There will be no rabbit-out-of-the-hat solutions," one EU official told Reuters. "There will be more talks and more political contacts. But, for the time being, there is no breakthrough to be reported." Johnson has repeatedly cast the EU summit next week as the last chance for the EU to strike a deal or face the disruption of a no-deal Brexit that would divide the West, threaten the unity of the United Kingdom and roil financial markets. A week ago, he proposed a possible solution to ensure the border between the British-ruled province of Northern Ireland and EU member Ireland does not become a backdoor into the EU's single market and customs union. The EU's cool reaction to his proposals indicates that, short of an unexpected last-minute breakthrough, Johnson will have to decide whether to accept another delay or to go for a no-deal Brexit and get around a law demanding the extension. Johnson's Brexit The EU's executive agreed on Wednesday with the assessment of the bloc's Brexit negotiator that the British proposals did "not represent a satisfactory solution", the bloc's top budget official, Guenther Oettinger, said. In the Brexit maelstrom where newspaper reports and contradictory tweets can send sterling into gyrations, EU officials denied a report in The Times that the bloc was preparing a major concession to Britain to secure a Brexit deal. "Unfortunately, no bold new offer is coming from the EU side at this stage," an EU official said while stressing that the bloc was not closing the door to more talks with Britain. Britain's Brexit minister Steve Barclay was due to have lunch with EU chief Brexit negotiator, Michel Barnier, on Thursday "to check if there is any more flexibility on the UK side to head for a deal. For now, there seems to be none," a diplomat said. Behind the rhetoric, the Brexit finale will ultimately be decided by Merkel, Macron, Johnson, European Commission President Jean-Claude Juncker and Irish Prime Minister Leo Varadkar - all of whom say they want an orderly exit. Johnson and Varadkar could meet later this week. With chances of a deal receding, the focus was turning back to British domestic politics where Johnson is under intense pressure from opponents to delay Brexit. Anti-Brexit campaigners claimed victory after Scotland's highest court decided on Wednesday to wait before ruling whether to force Johnson to seek a delay to Britain's EU divorce date if he has not struck a deal in the next ten days. British government lawyers had told the court that Johnson accepted that he must carry out the requirements of the law demanding a delay, even though he has publicly rejected asking for any further extension.

Germany's Merkel and France's Macron to meet ahead of crunch Brexit summit

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules.

Big internet firms have pushed tax rules to the limit as they can book profit and park assets like trademarks and patents in low tax countries like Ireland wherever their customers are.

The drive for a global rule book has received new urgency as countries unilaterally adopt plans for a tax on digital companies over frustration with current rules.

This year more than 130 countries and territories agreed that a rewriting of tax rules largely going back to the 1920s was overdue and tasked the Paris-based Organisation for Economic Cooperation and Development (OECD) to come up with proposals.

"The current system is under stress and will not survive if we don't remove the tensions," OECD head of tax policy Pascal Saint-Amans told journalists. The OECD expects the first sign of whether there is broad political support behind their proposals next week when finance ministers from the Group of 20 economic powers discuss them at a meeting in Washington.

The overhaul would have an impact of a few percentage points of corporate income tax in many countries with no big losers apart from big international investment hubs, Saint-Amans said.

While that means countries like Ireland or offshore tax havens could suffer, countries with big consumer markets like the United States or France would benefit from the shake-up.

France adopted its own national tax on digital companies this year, sparking US&nbsp;threats of tariff on French wine and adding to global trade tensions.

Meanwhile, companies are facing increased uncertainty about their tax bills as countries challenge arrangements to pay tax in countries like Ireland rather than where their markets are.

Apple is locked in an EU tax dispute over profits booked in Ireland which could cost the iPhone maker $14 billion. Meanwhile, Google agreed last month to pay more than $1 billion to settle a tax case in France.

Amazon, which the European Union has told to pay about 250 million euros in back taxes to Luxembourg, said the OECD proposals were an "important step forward".

Tax&nbsp;revolution

The OECD proposals set a scope for the companies that would be covered by the new rules, define how much business they must do in a country to be taxable there and determine how much profit can be taxed there.

The aim is to give the government where the user or client of a company's product is located the right to tax a bigger share of the profit earned by a foreign company there.

Companies affected would be big multinational firms operating across borders with the OECD suggesting they should have revenue of over 750 million euros.

They would also have to have a "sustained and significant" interaction with customers in a country's market, regardless of whether they have a physical presence there or not.

Not only would big internet companies be covered, but also big consumer firms that sell retail products in a market through a distribution network, which they may or may not own.

Companies meeting those conditions would then be liable for taxes in a given country, according to a formula based on set percentages of profitability that remain to be negotiated.

A French Finance Ministry official said that the Washington meeting should give "the needed political steer in order to achieve an agreement on international taxation in 2020".

After Washington, broader negotiations will get underway with the aim to put an outline agreement to the 134 countries that have signed up for the reform in January.

The proposals issued on Wednesday run in parallel to the second track of reform also steered by the OECD that aims to come up with an internationally agreed minimum corporate tax rate companies cannot avoid.

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules.

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules. Big internet firms have pushed tax rules to the limit as they can book profit and park assets like trademarks and patents in low tax countries like Ireland wherever their customers are. The drive for a global rule book has received new urgency as countries unilaterally adopt plans for a tax on digital companies over frustration with current rules. This year more than 130 countries and territories agreed that a rewriting of tax rules largely going back to the 1920s was overdue and tasked the Paris-based Organisation for Economic Cooperation and Development (OECD) to come up with proposals. "The current system is under stress and will not survive if we don't remove the tensions," OECD head of tax policy Pascal Saint-Amans told journalists. The OECD expects the first sign of whether there is broad political support behind their proposals next week when finance ministers from the Group of 20 economic powers discuss them at a meeting in Washington. The overhaul would have an impact of a few percentage points of corporate income tax in many countries with no big losers apart from big international investment hubs, Saint-Amans said. While that means countries like Ireland or offshore tax havens could suffer, countries with big consumer markets like the United States or France would benefit from the shake-up. France adopted its own national tax on digital companies this year, sparking US threats of tariff on French wine and adding to global trade tensions. Meanwhile, companies are facing increased uncertainty about their tax bills as countries challenge arrangements to pay tax in countries like Ireland rather than where their markets are. Apple is locked in an EU tax dispute over profits booked in Ireland which could cost the iPhone maker $14 billion. Meanwhile, Google agreed last month to pay more than $1 billion to settle a tax case in France. Amazon, which the European Union has told to pay about 250 million euros in back taxes to Luxembourg, said the OECD proposals were an "important step forward". Tax revolution The OECD proposals set a scope for the companies that would be covered by the new rules, define how much business they must do in a country to be taxable there and determine how much profit can be taxed there. The aim is to give the government where the user or client of a company's product is located the right to tax a bigger share of the profit earned by a foreign company there. Companies affected would be big multinational firms operating across borders with the OECD suggesting they should have revenue of over 750 million euros. They would also have to have a "sustained and significant" interaction with customers in a country's market, regardless of whether they have a physical presence there or not. Not only would big internet companies be covered, but also big consumer firms that sell retail products in a market through a distribution network, which they may or may not own. Companies meeting those conditions would then be liable for taxes in a given country, according to a formula based on set percentages of profitability that remain to be negotiated. A French Finance Ministry official said that the Washington meeting should give "the needed political steer in order to achieve an agreement on international taxation in 2020". After Washington, broader negotiations will get underway with the aim to put an outline agreement to the 134 countries that have signed up for the reform in January. The proposals issued on Wednesday run in parallel to the second track of reform also steered by the OECD that aims to come up with an internationally agreed minimum corporate tax rate companies cannot avoid.

Multinationals face heftier tax hit in biggest overhaul for decades

At least two people were shot dead on a street in the German city of Halle on Wednesday, police said, with media and witnesses reporting that a synagogue and a Turkish restaurant were the targets.

"Early indications show that two people were killed in Halle. Several shots were fired," said police on Twitter, urging residents in the area to stay indoors.

Police had earlier said the "perpetrators fled in a car" before saying later that one suspect had been caught.&nbsp;

It was not immediately clear whether there were other assailants.&nbsp;

The central train station has been closed while the area is under lockdown, rail company Deutsche Bahn said.

According to Bild daily, the shooting took place in front of a synagogue in the Paulus district, and a hand grenade was also flung into a Jewish cemetery. Police could not be reached immediately for confirmation.

Jews around the world were marking Yom Kippur, one of the holiest days in the Jewish calendar, on Wednesday.

An eyewitness, Konrad Roesler, told news channel NTV he was in a Turkish restaurant about 600 metres&nbsp;away from the synagogue when "a man wearing a helmet and military uniform" flung a hand grenade at the store.

"The grenade hit the door and exploded," he said.

"(The attacker) shot at least once in the shop, the man behind me must be dead. I hid in the toilet and locked the door."

Speaking to NTV, a police spokesman said the motive of the suspect or suspects was not clear.

"We don't have any indication about the motive of this act."

'Big threat'

Wednesday's shootings came three months after the shocking assassination-style murder of local pro-migrant politician Walter Luebcke in the western city of Kassel, allegedly by a known neo-Nazi.

Luebcke's killing has deeply shaken Germany, raising questions about whether it has failed to take seriously a rising threat from right-wing extremists.

Investigators have been probing the extent of suspect Stephan Ernst's neo-Nazi ties and whether he had links to the far-right militant cell National Socialist Underground (NSU).

Interior Minister Horst Seehofer last month warned of the rising danger of the militant far-right, calling it "as big a threat as radical Islamism".

Seehofer said that police had uncovered 1,091 weapons including firearms and explosives during probes of crimes linked to the far right last year, far more than in 2017 when 676 were found.

At the same time, Germany has also been on high alert following several jihadist attacks in recent years claimed by the Islamic State group.&nbsp;

At least two people were shot dead on a street in the German city of Halle on Wednesday, police said, with media and witnesses reporting that a synagogue and a Turkish restaurant were the targets.

At least two people were shot dead on a street in the German city of Halle on Wednesday, police said, with media and witnesses reporting that a synagogue and a Turkish restaurant were the targets. "Early indications show that two people were killed in Halle. Several shots were fired," said police on Twitter, urging residents in the area to stay indoors. Police had earlier said the "perpetrators fled in a car" before saying later that one suspect had been caught. It was not immediately clear whether there were other assailants. The central train station has been closed while the area is under lockdown, rail company Deutsche Bahn said. According to Bild daily, the shooting took place in front of a synagogue in the Paulus district, and a hand grenade was also flung into a Jewish cemetery. Police could not be reached immediately for confirmation. Jews around the world were marking Yom Kippur, one of the holiest days in the Jewish calendar, on Wednesday. An eyewitness, Konrad Roesler, told news channel NTV he was in a Turkish restaurant about 600 metres away from the synagogue when "a man wearing a helmet and military uniform" flung a hand grenade at the store. "The grenade hit the door and exploded," he said. "(The attacker) shot at least once in the shop, the man behind me must be dead. I hid in the toilet and locked the door." Speaking to NTV, a police spokesman said the motive of the suspect or suspects was not clear. "We don't have any indication about the motive of this act." 'Big threat' Wednesday's shootings came three months after the shocking assassination-style murder of local pro-migrant politician Walter Luebcke in the western city of Kassel, allegedly by a known neo-Nazi. Luebcke's killing has deeply shaken Germany, raising questions about whether it has failed to take seriously a rising threat from right-wing extremists. Investigators have been probing the extent of suspect Stephan Ernst's neo-Nazi ties and whether he had links to the far-right militant cell National Socialist Underground (NSU). Interior Minister Horst Seehofer last month warned of the rising danger of the militant far-right, calling it "as big a threat as radical Islamism". Seehofer said that police had uncovered 1,091 weapons including firearms and explosives during probes of crimes linked to the far right last year, far more than in 2017 when 676 were found. At the same time, Germany has also been on high alert following several jihadist attacks in recent years claimed by the Islamic State group.

Germany: Police say at least two killed in Halle shooting, country on high alert

Ecuador imposes curfew after protests push government out of capital

Three researchers on Wednesday won the Nobel Chemistry Prize for the development of lithium-ion batteries, the Royal Swedish Academy of Sciences said.

John Goodenough of the US - at 97 the oldest person to be awarded a Nobel prize - Britain's Stanley Whittingham and Japan's Akira Yoshino will share the $914,000&nbsp;prize sum equally.

"This lightweight, rechargeable and powerful battery is now used in everything from mobile phones to laptops and electric vehicles... (and) can also store significant amounts of energy from solar and wind power, making possible a fossil fuel-free society," the jury said.

"Lithium batteries have revolutionised our lives since they first entered the market in 1991," it said, adding they were "of the greatest benefit to humankind".

The three will receive the prize from King Carl XVI Gustaf at a formal ceremony in Stockholm on December 10, the anniversary of the 1896 death of scientist Alfred Nobel who created the prizes in his last will and testament.

Last year, the honour went to US scientists Frances Arnold and George Smith and British researcher Gregory Winter for developing enzymes used for greener and safer chemistry and antibody drugs with fewer side effects.

Arnold was just the fifth woman to clinch chemistry's most prestigious honour since Marie Curie was honoured in 1911.

This year's Nobel prize season kicked off on Monday with the Medicine Prize awarded to Americans William Kaelin and Gregg Semenza, and Britain's Peter Ratcliffe.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
The 2019 <a href="https://twitter.com/hashtag/NobelPrize?src=hash&amp;ref_src=twsrc%5Etfw">#NobelPrize</a> in Chemistry has been awarded to John B. Goodenough, M. Stanley Whittingham and Akira Yoshino “for the development of lithium-ion batteries.” <a href="https://t.co/LUKTeFhUbg">pic.twitter.com/LUKTeFhUbg</a>
— The Nobel Prize (@NobelPrize) <a href="https://twitter.com/NobelPrize/status/1181868876734324737?ref_src=twsrc%5Etfw">October 9, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Peace Prize on Friday

They won for research into how human cells sense and adapt to changing oxygen levels, opening up new strategies to fight such diseases as cancer and anaemia.

<a href="https://www.wionews.com/world/peebles-mayor-and-queloz-win-2019-nobel-prize-for-physics-254501">On Tuesday, the Physics Prize honoured Canadian-American cosmologist James Peebles and Swiss astronomers Michel Mayor and Didier Queloz for research on how the Universe evolved after the Big Bang, and the first discovery of a planet outside our solar system, known as an exoplanet.</a>

The Literature Prize will follow on Thursday, with two laureates to be crowned after a sexual harassment scandal forced the Swedish Academy to postpone the 2018 award, for the first time in 70 years.

Some names creating a buzz ahead of this year's literature prize are Canadian poet Anne Carson, Kenyan writer Ngugi Wa Thiong'o, Romanian poet and novelist Mircea Cartarescu and Polish writer and activist Olga Tokarczuk.

On Friday the action moves to Norway where the Peace Prize is awarded, with bookies predicting a win for Swedish teen climate activist Greta Thunberg on betting sites such as Ladbrokes.

The Economics Prize will wrap up the Nobel prize season on Monday, October 14.

Three researchers on Wednesday won the Nobel Chemistry Prize for the development of lithium-ion batteries, the Royal Swedish Academy of Sciences said. John Goodenough of the US - at 97 the oldest person to be awarded a Nobel prize - Britain's Stanley Whittingham and Japan's Akira Yoshino will share the $914,000 prize sum equally.

Three researchers on Wednesday won the Nobel Chemistry Prize for the development of lithium-ion batteries, the Royal Swedish Academy of Sciences said. John Goodenough of the US - at 97 the oldest person to be awarded a Nobel prize - Britain's Stanley Whittingham and Japan's Akira Yoshino will share the $914,000 prize sum equally. "This lightweight, rechargeable and powerful battery is now used in everything from mobile phones to laptops and electric vehicles... (and) can also store significant amounts of energy from solar and wind power, making possible a fossil fuel-free society," the jury said. "Lithium batteries have revolutionised our lives since they first entered the market in 1991," it said, adding they were "of the greatest benefit to humankind". The three will receive the prize from King Carl XVI Gustaf at a formal ceremony in Stockholm on December 10, the anniversary of the 1896 death of scientist Alfred Nobel who created the prizes in his last will and testament. Last year, the honour went to US scientists Frances Arnold and George Smith and British researcher Gregory Winter for developing enzymes used for greener and safer chemistry and antibody drugs with fewer side effects. Arnold was just the fifth woman to clinch chemistry's most prestigious honour since Marie Curie was honoured in 1911. This year's Nobel prize season kicked off on Monday with the Medicine Prize awarded to Americans William Kaelin and Gregg Semenza, and Britain's Peter Ratcliffe. The 2019 #NobelPrize in Chemistry has been awarded to John B. Goodenough, M. Stanley Whittingham and Akira Yoshino “for the development of lithium-ion batteries.” pic.twitter.com/LUKTeFhUbg — The Nobel Prize (@NobelPrize) October 9, 2019 × Peace Prize on Friday They won for research into how human cells sense and adapt to changing oxygen levels, opening up new strategies to fight such diseases as cancer and anaemia. On Tuesday, the Physics Prize honoured Canadian-American cosmologist James Peebles and Swiss astronomers Michel Mayor and Didier Queloz for research on how the Universe evolved after the Big Bang, and the first discovery of a planet outside our solar system, known as an exoplanet. The Literature Prize will follow on Thursday, with two laureates to be crowned after a sexual harassment scandal forced the Swedish Academy to postpone the 2018 award, for the first time in 70 years. Some names creating a buzz ahead of this year's literature prize are Canadian poet Anne Carson, Kenyan writer Ngugi Wa Thiong'o, Romanian poet and novelist Mircea Cartarescu and Polish writer and activist Olga Tokarczuk. On Friday the action moves to Norway where the Peace Prize is awarded, with bookies predicting a win for Swedish teen climate activist Greta Thunberg on betting sites such as Ladbrokes. The Economics Prize will wrap up the Nobel prize season on Monday, October 14.

US-UK-Japan trio win chemistry Nobel for lithium-ion battery

Currencies linked with greater investor risk appetite, such as the Australian dollar, jumped on Wednesday after Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist.

The <a href="https://www.wionews.com/world/us-expands-blacklist-to-include-chinas-top-ai-startups-ahead-of-trade-talks-254672">US&nbsp;government has widened its trade blacklist </a>to include some of China's top artificial intelligence start-ups, punishing Beijing for its treatment of mostly Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week.

The Australian dollar, a global risk barometer, was last up 0.3 per cent&nbsp;at $0.6744 and the New Zealand dollar rose 0.4 per cent&nbsp;to $0.6319.

China's yuan was up 0.5 per cent&nbsp;at 7.1308 against the dollar in offshore trading.

The euro was up 0.3 per cent&nbsp;at $1.09785. The index that tracks the dollar against a basket of six other currencies was down 0.1 per cent&nbsp;at 99.007.

"Risk is looking reasonably better, but anyone who is trading the trade war knows that the impact of good news will be fading," said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets.

"I think it pays off to be sceptical in terms of expectations of something exceptional happening during the<a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346"> US-China trade talks this week,"</a> Stretch said.

The biggest move in the foreign exchange market, however, was an early morning plunge in the Swedish crown, both against the euro and the dollar, on concerns the <a href="https://www.wionews.com/world/persecution-of-the-uyghurs-us-blacklists-28-chinese-companies-over-uighur-abuses-in-xinjiang-254355">US-China conflict over trade and foreign policy </a>was nowhere near a resolution and was increasingly damaging the global economy.

Sweden's open economy makes the crown vulnerable to global growth dynamics and therefore to the trade dispute between the world's two biggest economies, which has hurt growth in the two years since US&nbsp;President Donald Trump ignited the trade war.

The Swedish crown was last steady, after falling earlier to a 10-year low of 10.9230 against the euro and a 17-year low of 9.9639 against the dollar.

"It's a remarkable move," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "You cannot get a clearer trend here. The fall reflects deepening worsening global outlook."

Gallo expects the crown to fall to 11 against the common currency, close to levels not seen since the financial crisis. Sweden's competitiveness as an exporter led to the crown's decline, he said.

The euro was a sell against the dollar, though, since it was likely to maintain its status as a safe-haven currency and US&nbsp;investors were likely to keep their dollars at home, he added.

Chinese Vice Premier Liu He is due to arrive this week in Washington for trade talks. He is expected to meet US&nbsp;Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday.

Currencies linked with greater investor risk appetite, such as the Australian dollar, jumped on Wednesday after Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist.

Currencies linked with greater investor risk appetite, such as the Australian dollar, jumped on Wednesday after Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist. The US government has widened its trade blacklist to include some of China's top artificial intelligence start-ups, punishing Beijing for its treatment of mostly Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week. The Australian dollar, a global risk barometer, was last up 0.3 per cent at $0.6744 and the New Zealand dollar rose 0.4 per cent to $0.6319. China's yuan was up 0.5 per cent at 7.1308 against the dollar in offshore trading. The euro was up 0.3 per cent at $1.09785. The index that tracks the dollar against a basket of six other currencies was down 0.1 per cent at 99.007. "Risk is looking reasonably better, but anyone who is trading the trade war knows that the impact of good news will be fading," said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets. "I think it pays off to be sceptical in terms of expectations of something exceptional happening during the US-China trade talks this week," Stretch said. The biggest move in the foreign exchange market, however, was an early morning plunge in the Swedish crown, both against the euro and the dollar, on concerns the US-China conflict over trade and foreign policy was nowhere near a resolution and was increasingly damaging the global economy. Sweden's open economy makes the crown vulnerable to global growth dynamics and therefore to the trade dispute between the world's two biggest economies, which has hurt growth in the two years since US President Donald Trump ignited the trade war. The Swedish crown was last steady, after falling earlier to a 10-year low of 10.9230 against the euro and a 17-year low of 9.9639 against the dollar. "It's a remarkable move," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "You cannot get a clearer trend here. The fall reflects deepening worsening global outlook." Gallo expects the crown to fall to 11 against the common currency, close to levels not seen since the financial crisis. Sweden's competitiveness as an exporter led to the crown's decline, he said. The euro was a sell against the dollar, though, since it was likely to maintain its status as a safe-haven currency and US investors were likely to keep their dollars at home, he added. Chinese Vice Premier Liu He is due to arrive this week in Washington for trade talks. He is expected to meet US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday.

Australian dollar rises, euro up after China says open for partial trade deal

Britain's Brexit Secretary Steve Barclay will meet European Union chief negotiator Michel Barnier in Brussels on Thursday, as talks on the country's exit from the bloc reach a critical stage, Downing Street said.

"They will discuss the state of play following a week of technical talks," the spokesman from Prime Minister Boris Johnson's office said on Wednesday.

Johnson is expected to meet&nbsp;<a href="https://www.wionews.com/world/irish-pm-says-very-difficult-to-secure-brexit-deal-by-next-week-254692">Irish Prime Minister</a> Leo Varadkar later this week to discuss the Irish border -&nbsp;the thorniest issue in the talks.

Brussels and London have only a few days left to secure agreement on Britain's exit terms before a crucial summit of EU leaders on October 17 and 18.

Britain is due to leave the EU on October 31 and Johnson insists he will keep to that deadline.

However, a law passed by rebel MPs would force him to ask to delay Brexit if he has not reached a deal in time -&nbsp;something he says he will not do.

The government is planning to hold a special Saturday session of parliament on October 19, the day after the EU summit, whether or note there is a deal.

Tempers frayed on both sides of the Channel on Tuesday after a testy phone call between Johnson and German Chancellor Angela Merkel.

Downing Street sources briefed that Merkel's intransigence meant the talks were close to breaking down, and European Council President Donald Tusk accused Johnson of playing a "stupid blame game".

Britain's Brexit Secretary Steve Barclay will meet European Union chief negotiator Michel Barnier in Brussels on Thursday, as talks on the country's exit from the bloc reach a critical stage, Downing Street said.

Britain's Brexit Secretary Steve Barclay will meet European Union chief negotiator Michel Barnier in Brussels on Thursday, as talks on the country's exit from the bloc reach a critical stage, Downing Street said. "They will discuss the state of play following a week of technical talks," the spokesman from Prime Minister Boris Johnson's office said on Wednesday. Johnson is expected to meet Irish Prime Minister Leo Varadkar later this week to discuss the Irish border - the thorniest issue in the talks. Brussels and London have only a few days left to secure agreement on Britain's exit terms before a crucial summit of EU leaders on October 17 and 18. Britain is due to leave the EU on October 31 and Johnson insists he will keep to that deadline. However, a law passed by rebel MPs would force him to ask to delay Brexit if he has not reached a deal in time - something he says he will not do. The government is planning to hold a special Saturday session of parliament on October 19, the day after the EU summit, whether or note there is a deal. Tempers frayed on both sides of the Channel on Tuesday after a testy phone call between Johnson and German Chancellor Angela Merkel. Downing Street sources briefed that Merkel's intransigence meant the talks were close to breaking down, and European Council President Donald Tusk accused Johnson of playing a "stupid blame game".

United Kingdom Brexit minister to meet European Union negotiator on Thursday

Russia's Justice Ministry on Wednesday formally labeled opposition leader Alexei Navalny's&nbsp;anti-corruption&nbsp;group&nbsp;a "foreign agent", a move the&nbsp;Kremlin's critics said was part of a coordinated government attack on the&nbsp;group.

Navalny and his allies led <a href="https://www.wionews.com/world/moscow-set-for-fresh-protests-after-month-of-rallies-243543">political protests this summer</a> over a local election in Moscow that grew into the biggest sustained protest movement in the&nbsp;Russian capital in years, peaking at around 60,000 people before appearing to lose steam.

Civil society&nbsp;groups designated as foreign agents, a term that carries a negative Soviet-era connotation, can be subjected to spot checks and face bureaucratic scrutiny.

Russian legislation requires foreign agent&nbsp;groups to submit regular reports on their sources of funding, on their objectives, on how they spend their money, and who their managers are.

On Wednesday, the justice ministry said Navalny's <a href="https://www.wionews.com/world/russia-launches-probe-against-kremlin-critic-alexei-navalnys-anti-graft-group-240459">FBK&nbsp;anti-corruption&nbsp;foundation </a>was receiving foreign funding and that it had been formally labelled a foreign agent under the 2012 law.

Ivan Zhdanov, FBK's director, denied the&nbsp;group&nbsp;was receiving or had ever received foreign financing.

"The inclusion on these lists they thought up themselves is just the latest attempt to stifle FBK," he wrote on Twitter.

The foreign agents law was passed in 2012 following a series of mass protests over allegations of election fraud and has been criticised by Western governments.

It was seen as an attempt by Moscow to insulate itself from a wave of popular revolutions in eastern Europe and the Middle East. Moscow said they were fomented by Western governments using civil society&nbsp;groups as proxies.

In this summer's protests, police detained more than 2,000 people at rallies that Moscow authorities said were illegal, and courts have handed jail terms to a handful of protesters for charges such as assaulting the police that the opposition denies.

Moscow police and several state-run and other companies have filed 11 lawsuits against Navalny and his allies for damages caused by the protests totalling $375,000, according to Navalny's spokeswoman Kira Yarmysh.

The opposition denies causing any damage.

Russia's Justice Ministry on Wednesday formally labeled opposition leader Alexei Navalny's anti-corruption group a "foreign agent", a move the Kremlin's critics said was part of a coordinated government attack on the group.

Russia's Justice Ministry on Wednesday formally labeled opposition leader Alexei Navalny's anti-corruption group a "foreign agent", a move the Kremlin's critics said was part of a coordinated government attack on the group. Navalny and his allies led political protests this summer over a local election in Moscow that grew into the biggest sustained protest movement in the Russian capital in years, peaking at around 60,000 people before appearing to lose steam. Civil society groups designated as foreign agents, a term that carries a negative Soviet-era connotation, can be subjected to spot checks and face bureaucratic scrutiny. Russian legislation requires foreign agent groups to submit regular reports on their sources of funding, on their objectives, on how they spend their money, and who their managers are. On Wednesday, the justice ministry said Navalny's FBK anti-corruption foundation was receiving foreign funding and that it had been formally labelled a foreign agent under the 2012 law. Ivan Zhdanov, FBK's director, denied the group was receiving or had ever received foreign financing. "The inclusion on these lists they thought up themselves is just the latest attempt to stifle FBK," he wrote on Twitter. The foreign agents law was passed in 2012 following a series of mass protests over allegations of election fraud and has been criticised by Western governments. It was seen as an attempt by Moscow to insulate itself from a wave of popular revolutions in eastern Europe and the Middle East. Moscow said they were fomented by Western governments using civil society groups as proxies. In this summer's protests, police detained more than 2,000 people at rallies that Moscow authorities said were illegal, and courts have handed jail terms to a handful of protesters for charges such as assaulting the police that the opposition denies. Moscow police and several state-run and other companies have filed 11 lawsuits against Navalny and his allies for damages caused by the protests totalling $375,000, according to Navalny's spokeswoman Kira Yarmysh. The opposition denies causing any damage.

Russia brands Kremlin critic's anti-corruption group 'foreign agent'

FC Barcelona captain Lionel Messi has said he considered leaving the club when he was investigated for tax fraud in 2013, saying he felt "badly treated" by Spain.

Messi, who has been at Barcelona since he was 13 and is their all-time top scorer, was found guilty in 2016 along with his father Jorge of defrauding the Spanish government of 4.2 million euros&nbsp;between 2007 and 2009 over income earned from image rights.

The Argentina international was handed a prison sentence of 21 months and ordered to pay a fine of 2 million euros.

He did not serve any jail time after exchanging his sentence for a fine of 250,000 euros, as in Spain defendants without a previous conviction are permitted to serve any sentence of under two years on probation.

He was first investigated in 2013, beginning a spate of tax fraud cases against top footballers in Spain including Cristiano Ronaldo, Javier Mascherano, and Marcelo.

"Sincerely, at that time, I thought about leaving," Messi told Barcelona-based radio station RAC1 in an interview broadcast on Wednesday.

"Not because of Barcelona but because I wanted to leave Spain, I felt very badly treated and I didn't want to stay here any longer.

"I had my doors open to many clubs but I never got an official offer because everyone knew I really wanted to stay. This situation went way beyond my feelings for Barca."

Messi added that he felt he was made an example of by the Spanish tax authorities, who stepped up their efforts against tax fraud after Spain's deep economic crisis hit.

"I was the first and that's why they came down so hard on me. They made an example of me and showed that it was going to be like this for everyone. It was tough because of everything that was happening at that time," he said.

FC Barcelona captain Lionel Messi has said he considered leaving the club when he was investigated for tax fraud in 2013, saying he felt "badly treated" by Spain.

FC Barcelona captain Lionel Messi has said he considered leaving the club when he was investigated for tax fraud in 2013, saying he felt "badly treated" by Spain. Messi, who has been at Barcelona since he was 13 and is their all-time top scorer, was found guilty in 2016 along with his father Jorge of defrauding the Spanish government of 4.2 million euros between 2007 and 2009 over income earned from image rights. The Argentina international was handed a prison sentence of 21 months and ordered to pay a fine of 2 million euros. He did not serve any jail time after exchanging his sentence for a fine of 250,000 euros, as in Spain defendants without a previous conviction are permitted to serve any sentence of under two years on probation. He was first investigated in 2013, beginning a spate of tax fraud cases against top footballers in Spain including Cristiano Ronaldo, Javier Mascherano, and Marcelo. "Sincerely, at that time, I thought about leaving," Messi told Barcelona-based radio station RAC1 in an interview broadcast on Wednesday. "Not because of Barcelona but because I wanted to leave Spain, I felt very badly treated and I didn't want to stay here any longer. "I had my doors open to many clubs but I never got an official offer because everyone knew I really wanted to stay. This situation went way beyond my feelings for Barca." Messi added that he felt he was made an example of by the Spanish tax authorities, who stepped up their efforts against tax fraud after Spain's deep economic crisis hit. "I was the first and that's why they came down so hard on me. They made an example of me and showed that it was going to be like this for everyone. It was tough because of everything that was happening at that time," he said.

Messi wanted to leave Barca during tax investigation

&nbsp;A group of pro-Kremlin lawmakers has drafted legislation that would allow authorities to block individual e-mail or online messenger users who circulate banned content.

The bill is likely to alarm advocates of internet freedoms, but the lawmakers say the legislation is needed to combat a wave of hoax bomb threats that have been sporadically called in across the country in recent years.

Under the proposed legislation, Internet companies would be required within 24 hours to block individual users who circulate illegal content if the Roskomnadzor state communications watchdog asks the companies to do so.

Companies that fail to comply would face a fine of 1 million roubles.

"In practice, it is efficient to completely block a user, not the individual messages sent by them," said Andrey Klishas, one of the lawmakers who drafted the bill.

Russian internet search company Yandex and Google declined to comment. Representatives of Facebook, Viber and Mail.ru Group have not yet responded to a Reuters request for comment.

Over the past five years, Russia has introduced tougher laws that require search engines to delete some search results, oblige messaging services to share encryption keys with security services, and make social networks store Russian users' personal data on servers within the country.

The Kremlin says it is trying to protect the integrity of the internet's Russian-language segment. The Kremlin's opponents fear the authorities are using security as a pretext to ramp up surveillance online.

To become law, the bill must be approved in three votes in the lower house of parliament before it is sent for approval in the upper house and then signed by President Vladimir Putin.

The bill can still be amended, but is likely to pass. Other bills tightening controls of the internet have been signed into law in Russia despite opposition from activists and industry lobbyists.

A group of pro-Kremlin lawmakers has drafted legislation that would allow authorities to block individual e-mail or online messenger users who circulate banned content.

A group of pro-Kremlin lawmakers has drafted legislation that would allow authorities to block individual e-mail or online messenger users who circulate banned content. The bill is likely to alarm advocates of internet freedoms, but the lawmakers say the legislation is needed to combat a wave of hoax bomb threats that have been sporadically called in across the country in recent years. Under the proposed legislation, Internet companies would be required within 24 hours to block individual users who circulate illegal content if the Roskomnadzor state communications watchdog asks the companies to do so. Companies that fail to comply would face a fine of 1 million roubles. "In practice, it is efficient to completely block a user, not the individual messages sent by them," said Andrey Klishas, one of the lawmakers who drafted the bill. Russian internet search company Yandex and Google declined to comment. Representatives of Facebook, Viber and Mail.ru Group have not yet responded to a Reuters request for comment. Over the past five years, Russia has introduced tougher laws that require search engines to delete some search results, oblige messaging services to share encryption keys with security services, and make social networks store Russian users' personal data on servers within the country. The Kremlin says it is trying to protect the integrity of the internet's Russian-language segment. The Kremlin's opponents fear the authorities are using security as a pretext to ramp up surveillance online. To become law, the bill must be approved in three votes in the lower house of parliament before it is sent for approval in the upper house and then signed by President Vladimir Putin. The bill can still be amended, but is likely to pass. Other bills tightening controls of the internet have been signed into law in Russia despite opposition from activists and industry lobbyists.

Russian lawmakers look to ban e-mail users who share illegal content

Nine Botswana rhinos have been poached since April, the government said Wednesday, an unprecedented rate of one per month that could see rhinos wiped out in the southern African country by 2021.

The thousands of rhinos that once roamed Africa and Asia have been culled by poaching and habitat loss. Very few are found outside national parks and reserves, where they remain threatened.

Botswana is home to just under 400 rhinos, according to Rhino Conservation Botswana, most of which roam the grassy plains of the northern Okavango Delta.

A ministry of environment statement said two rhinos were poached within five days in the Okavango late last month, raising the total number to nine since April. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

"We have been losing about a rhino a month to poaching," said Mmadi Reuben, rhino coordinator for Botswana's wildlife department in the statement.

"If the poaching continues at this rate there will be no rhinos in Botswana in a year or two, especially the black rhino."

While southern white rhinos have been rescued from extinction, black rhinos are still considered critically endangered, with only around 4,200 living in the wild.

Less than 20 are found in Botswana, which is also home to the continent's largest elephant population.

Botswana has a zero-tolerance approach to poaching and previously operated a "shoot-to-kill" policy against perpetrators.

"The anti-poaching forces have now placed the protection of rhinos and location of these poaching gangs as their highest priority," said the statement, adding that two perpetrators were killed in recent operations.

Nine Botswana rhinos have been poached since April, the government said Wednesday, an unprecedented rate of one per month that could see rhinos wiped out in the southern African country by 2021.

Nine Botswana rhinos have been poached since April, the government said Wednesday, an unprecedented rate of one per month that could see rhinos wiped out in the southern African country by 2021. The thousands of rhinos that once roamed Africa and Asia have been culled by poaching and habitat loss. Very few are found outside national parks and reserves, where they remain threatened. Botswana is home to just under 400 rhinos, according to Rhino Conservation Botswana, most of which roam the grassy plains of the northern Okavango Delta. A ministry of environment statement said two rhinos were poached within five days in the Okavango late last month, raising the total number to nine since April. "We have been losing about a rhino a month to poaching," said Mmadi Reuben, rhino coordinator for Botswana's wildlife department in the statement. "If the poaching continues at this rate there will be no rhinos in Botswana in a year or two, especially the black rhino." While southern white rhinos have been rescued from extinction, black rhinos are still considered critically endangered, with only around 4,200 living in the wild. Less than 20 are found in Botswana, which is also home to the continent's largest elephant population. Botswana has a zero-tolerance approach to poaching and previously operated a "shoot-to-kill" policy against perpetrators. "The anti-poaching forces have now placed the protection of rhinos and location of these poaching gangs as their highest priority," said the statement, adding that two perpetrators were killed in recent operations.

Botswana rhinos risk wipeout as poaching rises

In the hard-up neighbourhood of Claypole on the outskirts of the Argentine capital Buenos Aires, Elena Escobar makes her way to the local Caritas Felices soup kitchen to serve food to street children who scrape by from meal to meal.

Escobar, 53, says the volunteer-run kitchen has seen a surge of kids and families seeking help over the last few months, amid a biting recession and fast-rising prices that have pushed millions of people into poverty.

"There are many children in need, many malnourished, with kids that get to dinner time and don't have any food," said Escobar. The kitchen receives over 100 children each week, up from around 20-30 when it opened its doors in April.

The rise in hunger and poverty creates a complex backdrop for the leaders of Latin America's number&nbsp;three&nbsp;economy, who are in knife-edge talks with creditors to avoid default on billions of dollars of debt amid economic and political upheaval.

Ahead of a presidential election on October&nbsp;27, officials will head to Washington this month to meet with the International Monetary Fund (IMF), a major backer that struck a $57 billion funding deal&nbsp;with the country last year.

Those talks are likely to weigh on the current administration of President Mauricio Macri and the next one, likely led by left-leaning Peronist Alberto Fernandez, the front-runner to win the vote.

The Claypole kitchen is far from alone in witnessing rising hardship, with government data showing poverty rates jumped to 35 per cent&nbsp;in the first half of 2019 amid recession and steep inflation, from 27.3 per cent&nbsp;a year earlier.

Around 13 per cent of children and adolescents went hungry in 2018, according to data from the Pontificia Universidad Católica Argentina, and rising food prices have become a regular target of popular anger in street protests around the country.

<a href="https://www.wionews.com/videos/argentina-recession-emergency-food-bill-approved-249399">Political leaders know something must be done</a>, but face a complex juggling act: bolstering growth and spending to ease issues such as hunger, while cutting debt and averting a damaging default that would shut off access to global markets.

"We can't live in peace with such a scourge," left-leaning Fernandez said in a speech on Monday in reference to hunger, which he described as Argentina's "greatest shame."

Fernandez, who has been buoyed by support for populist running mate Cristina Fernandez de Kirchner, blames Macri and austerity measures agreed with the International Monetary Fund for the rise in poverty and hunger.

Macri's running mate, Miguel Pichetto, meanwhile, said on Monday the way to eradicate hunger was to generate employment and attract "big global companies" to Argentina.

Both sides have said they would honour the country's debts with creditors, including the IMF, though neither has laid out a clear plan for how to do so while boosting spending at home.

Most investors expect some sort of loss.

Indeed, Moody's Investors Service anticipates holders of Argentina dollar bonds will need to write off 10 per cent&nbsp;to 20 per cent&nbsp;of their investments, while Fitch Ratings believes the government will write down local and dollar debt.

Hunger and poverty are not new in Argentina but have risen abruptly over the past two years amid a series of economic shocks that have rattled the grain-exporting nation, famed for its rich arable land and cattle.

The issues have become a lightning rod for anti-government protests and marches, with the hardships of the poor brought into sharp focus as the government has been locked in talks with creditors about repayments on around $100 billion in debts.

<a href="https://www.wionews.com/world/argentina-inflation-expected-at-53-in-december-2019-treasury-officials-249184">Driving the problem is stubborn inflation</a>, a tumbling peso and a slump in domestic production and consumption, which have hurt spending power, incomes, and jobs.

"There is just no work," said 46-year-old Isabel Britez, a volunteer at the Los Piletones dining room in Buenos Aires, who said that was the main message she heard from people eating at the kitchen, which serves around 2,000 meals a day.

Macri, looking to revive his election hopes, has rolled out plans to bolster jobs, including tax cuts for employers. He also announced a freeze on some food prices earlier this year.

Sergio Chouza, an economist at the University of Avellaneda in Buenos Aires, said food prices have rocketed nearly 60 per cent&nbsp;over the past year, with basics such as dairy up as much as 90 per cent.

"That results in a deterioration of diets and pushes many people below the poverty line," he said.

Poverty is a key reason for Macri's fall from grace. His economic austerity, part of the $57 billion funding deal agreed with the IMF last year, reined in deficits but hit growth and voters' wallets.

Macri was defeated heavily in a primary election in August. Since then, he has announced lower taxes for the middle class and higher subsidies for the poor along with food aid. The Senate approved an emergency food law last month.

"Perhaps we underestimated the impact of the economic situation on the elections. (The poverty issue) affected the vote for Mauricio," Eduardo Amadeo, a Macri ally and member of Argentina's house of deputies, told Reuters.

"The reforms we launched have stabilised the economy and we have tried to reduce the impact from the devaluation in August on people's wallets," Amadeo said.

A spokesman for the Ministry of Health and Social Development listed official measures to deal with the crisis but declined to comment further on poverty rates.

In the meantime, even as soup kitchens flourish, some volunteers say meals are getting more meagre amid tight funding conditions and as food donations dry up.

"Previously, people donated some meat and chicken; now we only get noodles and rice," said Lorena Nievas, who works at the Abrazando Hogares soup kitchen in the southern Patagonian city of Puerto Madryn.

For many residents, however, there is no choice.

"I have people from the street who come in for their lunch and snacks here. It's all the food they get," she said.

In the hard-up neighbourhood of Claypole on the outskirts of the Argentine capital Buenos Aires, Elena Escobar makes her way to the local Caritas Felices soup kitchen to serve food to street children who scrape by from meal to meal.

In the hard-up neighbourhood of Claypole on the outskirts of the Argentine capital Buenos Aires, Elena Escobar makes her way to the local Caritas Felices soup kitchen to serve food to street children who scrape by from meal to meal. Escobar, 53, says the volunteer-run kitchen has seen a surge of kids and families seeking help over the last few months, amid a biting recession and fast-rising prices that have pushed millions of people into poverty. "There are many children in need, many malnourished, with kids that get to dinner time and don't have any food," said Escobar. The kitchen receives over 100 children each week, up from around 20-30 when it opened its doors in April. The rise in hunger and poverty creates a complex backdrop for the leaders of Latin America's number three economy, who are in knife-edge talks with creditors to avoid default on billions of dollars of debt amid economic and political upheaval. Ahead of a presidential election on October 27, officials will head to Washington this month to meet with the International Monetary Fund (IMF), a major backer that struck a $57 billion funding deal with the country last year. Those talks are likely to weigh on the current administration of President Mauricio Macri and the next one, likely led by left-leaning Peronist Alberto Fernandez, the front-runner to win the vote. The Claypole kitchen is far from alone in witnessing rising hardship, with government data showing poverty rates jumped to 35 per cent in the first half of 2019 amid recession and steep inflation, from 27.3 per cent a year earlier. Around 13 per cent of children and adolescents went hungry in 2018, according to data from the Pontificia Universidad Católica Argentina, and rising food prices have become a regular target of popular anger in street protests around the country. Political leaders know something must be done, but face a complex juggling act: bolstering growth and spending to ease issues such as hunger, while cutting debt and averting a damaging default that would shut off access to global markets. "We can't live in peace with such a scourge," left-leaning Fernandez said in a speech on Monday in reference to hunger, which he described as Argentina's "greatest shame." Fernandez, who has been buoyed by support for populist running mate Cristina Fernandez de Kirchner, blames Macri and austerity measures agreed with the International Monetary Fund for the rise in poverty and hunger. Macri's running mate, Miguel Pichetto, meanwhile, said on Monday the way to eradicate hunger was to generate employment and attract "big global companies" to Argentina. Both sides have said they would honour the country's debts with creditors, including the IMF, though neither has laid out a clear plan for how to do so while boosting spending at home. Most investors expect some sort of loss. Indeed, Moody's Investors Service anticipates holders of Argentina dollar bonds will need to write off 10 per cent to 20 per cent of their investments, while Fitch Ratings believes the government will write down local and dollar debt. Hunger and poverty are not new in Argentina but have risen abruptly over the past two years amid a series of economic shocks that have rattled the grain-exporting nation, famed for its rich arable land and cattle. The issues have become a lightning rod for anti-government protests and marches, with the hardships of the poor brought into sharp focus as the government has been locked in talks with creditors about repayments on around $100 billion in debts. Driving the problem is stubborn inflation, a tumbling peso and a slump in domestic production and consumption, which have hurt spending power, incomes, and jobs. "There is just no work," said 46-year-old Isabel Britez, a volunteer at the Los Piletones dining room in Buenos Aires, who said that was the main message she heard from people eating at the kitchen, which serves around 2,000 meals a day. Macri, looking to revive his election hopes, has rolled out plans to bolster jobs, including tax cuts for employers. He also announced a freeze on some food prices earlier this year. Sergio Chouza, an economist at the University of Avellaneda in Buenos Aires, said food prices have rocketed nearly 60 per cent over the past year, with basics such as dairy up as much as 90 per cent. "That results in a deterioration of diets and pushes many people below the poverty line," he said. Poverty is a key reason for Macri's fall from grace. His economic austerity, part of the $57 billion funding deal agreed with the IMF last year, reined in deficits but hit growth and voters' wallets. Macri was defeated heavily in a primary election in August. Since then, he has announced lower taxes for the middle class and higher subsidies for the poor along with food aid. The Senate approved an emergency food law last month. "Perhaps we underestimated the impact of the economic situation on the elections. (The poverty issue) affected the vote for Mauricio," Eduardo Amadeo, a Macri ally and member of Argentina's house of deputies, told Reuters. "The reforms we launched have stabilised the economy and we have tried to reduce the impact from the devaluation in August on people's wallets," Amadeo said. A spokesman for the Ministry of Health and Social Development listed official measures to deal with the crisis but declined to comment further on poverty rates. In the meantime, even as soup kitchens flourish, some volunteers say meals are getting more meagre amid tight funding conditions and as food donations dry up. "Previously, people donated some meat and chicken; now we only get noodles and rice," said Lorena Nievas, who works at the Abrazando Hogares soup kitchen in the southern Patagonian city of Puerto Madryn. For many residents, however, there is no choice. "I have people from the street who come in for their lunch and snacks here. It's all the food they get," she said.

In farm-rich Argentina, hunger cries ring in leaders' ears amid crisis

Author

Zee News Rajasthan

Editor

Bharat Sharma

Home

Live Tv

Latest

World

India

Business

Entertainment

Sports

Opinions

Videos

Photos

Gravitas

Lifestyle

Science

Tech

Rajasthan News in Hindi: In-depth coverage of Rajasthan Crime, Political News, Education, Rajasthan Weather Update and Latest Rajasthan News on Zee News Rajasthan.