For some – probably the same ones that thought Fernández would retire from politics after her presidency ended in 2015 to look after her grandchildren and tend to her garden(s) in Patagonia – this is baffling. How could someone who left behind an economy in ruins and is up to the eyeballs in corruption accusations retain such strong support?True, there is no shortage of Argentines whose support for the populist icon transcends the rational (look no further than this viral Youtube videoof a grinning baker crooning along to Marco Antonio Solis’ “No Hay Nada Más Difícil”, which he winkingly dedicates to his “Cris” as he massages rolls of dough). Read more

The headquarters of the European Central Bank (ECB) are pictured during protest training organised by "NoG20 Rhein-Main" in Frankfurt

The European Central Bank has left interest rates unchanged in July as expected. The euro has picked up from its daily lows after Mr Draghi stuck to the script that the recovery still has plenty of way to go. The key message was that the eurozone still needs a “substantial” amount of stimulus to keep price growth at its current levels.

Key points

  • ECB main rate remains at 0.00%; deposit facility at -0.4%
  • No change to QE bond buying programme which runs till end of 2017
  • Euro enjoys a mild rally on Draghi’s comments

 

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Ever since the commodity boom turned to bust, many Latin American countries have turned to navel gazing and concentrated on their own disturbed internal affairs rather than looking to the near-abroad. Argentina is pre-occupied with its economic reform project; Brazil with the political instability generated by its massive corruption probe; Colombia with its peace process; Chile with imminent presidential elections; and so forth. Occasionally, though, there are moments of attempted multilateral diplomacy – such as last week’s meeting of the OASRead more

James Comey

Former FBI director James Comey’s first appearance on Capitol Hill since his abrupt ousting a month ago marks one of the most consequential congressional hearings in years. Critics accuse Mr Trump of attempting to obstruct justice and make comparisons to the Watergate scandal that toppled Richard Nixon. Our DC bureau correspondents followed the testimony and the Senate intelligence committee questioning as it unfolded.

Key points

  • Comey said he took the Trump request to drop a Mike Flynn investigation as a “direction”. He later quoted Henry II, saying the gist of the request was who will rid me of this meddlesome priest
  • Comey testified that Trump and others in the administration lied when they said FBI agents had lost confidence in Comey
  • Discussing the Trump suggestion that there were tapes of their conversations, Comey said “Lordy, I hope there are tapes”
  • Comey acknowledged he orchestrated a leak about his Trump conversations in hope of triggering a special counsel appointment.
  • Read the account of the hearing here

 

Tim Cook speaks during Apple's annual developer conference in San Jose

Long queues of app makers gathered in San Jose on Monday to hear Tim Cook, Apple chief executive, at the annual developers conference. After a focus on software and services at previous annual events, this year Apple unveiied a host of new hardware items, including a Siri-powered speaker system to compete head-on with Amazon’s Echo and Google’s Home, as well as a new Pro model and new Mac offerings. On the software front, an overhaul of its iOS operating system, as well as an update to the iPad software, plus an augmented reality kit were launched to rally the faithful. Tim Bradshaw and Hannah Kuchler followed the event. 

Britain on high alert following Manchester terror attack

Police are trying to establish whether a male suicide bomber acted alone when he detonated a device outside a concert venue in the UK’s third biggest city just after 10.30pm on Monday night as crowds were leaving the venue

Key points

  • Death toll rises to 22; children among the dead; 59 people injured
  • Suicide bomber named as 22-year-old, Manchester-born Salman Abedi
  • 23-year old man arrested in south Manchester in connection with the attack
  • Isis claims responsibility for bombing of Manchester Arena
  • Authorities trying to establish whether attacker acted alone or as part of a network
  • Arena is biggest indoor venue in UK with capacity for 21,000
  • Bomb detonated as people were leaving concert by US artist Ariana Grande
  • UK political parties suspend all campaigning for general election on June 8

 

macron_lepen2

Independent centrist Emmanuel Macron has won an emphatic victory over far-right candidate Marine Le Pen in France’s presidential election, according to preliminary estimates.

  • Macron won 65.1% of the second round vote, according to preliminary estimate by Ipsos-Sopra Steria, while Le Pen secured 34.9%
  • Hackers hit the Macron campaign with a ‘massive’ document leak on Friday night
  • Take a look at the FT’s poll tracker
  • For further coverage of the French presidential elections click here

 

Berkshire Hathaway CEO Warren Buffett displays a pair of men's underwear for sale with images of himself before the Berkshire Hathaway annual meeting in Omaha

They call it the Woodstock of Capitalism. Some 30,000 shareholders in Berkshire Hathaway descend on Omaha, Nebraska, to hear from the company’s founder, Warren Buffett, along with his sidekick and vice-chairman Charlie Munger, at a day long event that includes the mother of all question-and-answer sessions, and the opportunity to shop till you drop at a bazaar featuring many of Berkshire’s subsidiary companies. The FT’s Eric Platt was on the ground (and up in the gods, in the press box of the CenturyLink Centre) to report on the day’s events. 

macron_lepen2

Emmanuel Macron and Marine Le Pen went head to head on Wednesday evening in an unrelentingly aggressive TV debate ahead of France’s second round vote on Sunday. Here are the FT’s highlights of the showdown:

  • The two contenders clashed on the euro, radical Islam, immigration and jobs
  • Macron came out on top with 63% of viewer approval, while a combative Le Pen trailed with 34%, according to a poll by Elabe
  • Take a look at the FT’s poll tracker
  • For further coverage of the French presidential elections click here

 

Germany European Central Bank

The European Central Bank has once again left interest rates and its quantitative easing programme unchanged following its governing council meeting.

Key points

  • ECB main rate held at 0.00%, deposit facility at -0.40%
  • QE bond buying programme runs till end of 2017 at reduced rate of €60 billion per month
  • Risks are still ’tilted to the downside’ says Draghi
  • Admits differences of opinion within council over strength of economic recovery
  • Draghi has a dig at Germany’s finance minister Schäuble over latter’s criticism of ECB

 

FR_lepen_macron
  • Macron and Le Pen progress through to the second and final round
  • Macron tops the polls with 23.9 % of the vote; Le Pen secures 21.4%
  • Markets react positively as Macron is heavily tipped to become next French president
  • Take a look at the FT’s poll tracker
  • For further coverage of the French presidential elections click here

 

Holding image for blog

UK Prime Minister Theresa May has triggered Article 50, the process informing the EU of the UK’s intention to leave. Unless both sides agree to an extension, the notification will start a two-year period to agree a divorce deal before the bloc’s treaties cease to apply to Britain.

Key points

  • Theresa May tells MPs she has acted “on the democratic will of the British peoples”
  • European Council president Donald Tusk says “this is about damage control”
  • An annotated version of the Article 50 letter is here
  • Click here
    for an explainer on what happens next
  • For the FT’s indepth coverage visit our Brexit page

 

Palace of Westminster incident

An investigation is under way after four people died and around 40 were injured in an attack in Westminster in central London on Wednesday afternoon. The police have said they are treating the attack as terrorism. Join us for further developments and reaction.

Key points

  • Police name attacker as Kent-born Khalid Masood
  • The three victims named; 29 injured treated in hospital
  • Isis reportedly claims responsibility
  • Eight people arrested overnight in London, Birmingham and other parts of the UK
  • Authorities in Antwerp appear to have foiled a similar attack

 

Palace of Westminster incident

At least four people have died and 20 have been injured in an attack in Westminster in central London. The attacker drove a car into people on Westminster Bridge before entering the grounds of the Houses of Parliament. The man, armed with knives, then stabbed and killed a police officer before being shot dead.

Key points

  • Attacker drove a car across Westminster Bridge running down numerous people
  • The man then entered grounds of parliament and stabbed and killed a police officer
  • Attacker was shot dead by police
  • Two other people on the bridge also confirmed dead, at least 20 injured
  • Security lockdown as police cordon off area around parliament

 

House Intelligence Committee Hears Testimony From FBI Director James Comey

FBI director James Comey was questioned for more than six hours by the House intelligence committee on the bureau’s investigation into Russia’s attempts to interfere in last year’s US presidential election. He is testified alongside the NSA director, Admiral Michael Rogers.

Mr Comey, who came under fire during the election campaign for his handling of Democratic candidate Hillary Clinton’s email server probe, was also questioned about allegations that the Obama administration wiretapped Trump Tower.

Key Developments

  • The FBI director confirmed the agency is probing Russian meddling into the US election, including any potential links between the Trump campaign and the country’s government.
  • The FBI director said the agency has “no information that supports” tweets from Donald Trump accusing Barack Obama of wiretapping his campaign.
  • The NSA director said he agreed with the angry statement issued last Thursday by GCHQ, Britain’s electronic surveillance agency, in which it slammed the notion of its spying on its closest ally as “utterly ridiculous”.
  • In his opening statement, Michael Rogers said that the NSA stood by its earlier report on Russian meddling and its level of confidence in the findings had not changed.
  • In his opening statements, Republican committee chairman Devin Nunes reiterated his previous public statement that he has seen no evidence Trump Tower was wiretapped.
  • The Trump administration maintained its position on the allegation that he was put under surveillance as a candidate
  •  

    APTOPIX Germany European Central Bank

    The European Central Bank has left interest rates and its quantitative easing programme unchanged at its governing council meeting on Thursday. The decision came against a backdrop of inflation reaching the bank’s goal of just under 2 per cent for the first time since early 2013.

    Mario Draghi, ECB president, who was under pressure from the council’s hawks, stepped back from the prospect of more rate cuts.

    Key points

    • ECB main rate remains at 0.00%, deposit facility at -0.40%
    • QE bond buying programme continues till at least end of 2017
    • Monthly QE due to drop from €80bn to €60bn from April as previously announced
    • ECB keeps long-term inflation forecasts unchanged
    • Draghi says “no signs yet of a convincing upward trend in underlying inflation”
    • Draghi takes more hawkish tone on monetary policy

     

    Merkel’s surprise challenger from the left

    Martin Schulz, the new face of Germany’s Social Democratic Party, has surged in the polls to become a surprise challenger to chancellor Angela Merkel in September’s elections. Gideon Rachman discusses what this could mean for Germany with the FT’s Stefan Wagstyl and Guy Chazan in Berlin. Read more

    By Gideon Rachman

    After the fall of the Berlin Wall, there was a “democratic wave”. Political freedom spread from its traditional bastions in western Europe and the US — and countries as diverse as Poland, South Africa and Indonesia turned democratic. But now the process seems to have gone into reverse. An authoritarian wave that began outside the established democracies of the west has spread to the US and Europe.

    South Africa’s critical test

    This year, the African National Congress – which has governed South Africa since the end of apartheid – picks a new leader. But their embattled president, Jacob Zuma, will leave a legacy of scandal, corruption allegations and a sluggish economy. Gideon Rachman discusses the future of Africa’s largest economy with the FT’s Africa editor David Pilling, and South Africa correspondent Joseph Cotterill.

    By Gideon Rachman

    Donald Trump’s travails with his “Muslim ban” make it easy to dismiss the whole idea as an aberration that will swiftly be consigned to history by the judicial system and the court of public opinion. But that would be a misreading. The ban on migrants and refugees from seven mainly Muslim countries was put together clumsily and executed cruelly. But it responded to a hostility to Islam and a craving for security and cultural homogeneity that is finding adherents across the western world — and not just on the far right.