The international pecking order is usually defined by economic and military might. That puts the U.S. at the top of the pile, with China gaining fast in second place.But when it comes to tackling long-term global challenges such as climate change, poverty or peacemaking, it’s also vital to identify which leaders are likely to stick around.Whether democrats, dictators or somewhere in between, they’re all balanced atop a shifting ziggurat of potential rivals. And only those with the home front under control are in a position to make meaningful promises for the 2020s or beyond. That’s why France’s Emmanuel Macron can map out a seven-year program for reforming the European Union while Theresa May can’t look beyond the date of Britain’s exit from the bloc next year.So for an alternative take on who really matters in global affairs, we picked 16 countries and analyzed how long their leaders might hold off the palace coups, election defeats or waning powers … [Read more...] about How Long Will the World’s Most Powerful Leaders Last?
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Five years after a landmark overhaul of energy laws stripped Mexico’s state oil-and-gas producer of its monopoly, few investors are eager for it to be restored.So pledges by front-running presidential candidate Andres Manuel Lopez Obrador to turn back the clock are causing jitters among bondholders. The spread on Pemex’s $3 billion bond due in 2027 over similar-maturity Treasuries has widened by 86 basis points since Feb. 1 to 3.25 percentage points, as Lopez Obrador built up his lead in polls.The reform allowed Mexico to take large swaths of oil reserves and auction them off to the likes of Royal Dutch Shell Plc and Chevron Corp. Pemex, whose full name is Petroleos Mexicanos, was freed up to focus on assets it was already developing. The government bet was that injections of badly needed capital and the introduction of new technologies through new joint ventures would reverse 13 years of production declines.Any rollback after the presidential election on July 1 would be a … [Read more...] about World’s Most Indebted Oil Major Faces $84.5 Billion Threat in Mexican Presidential Race
Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said.While Guyana should honor the existing deal, future contracts should ensure the state gets a higher portion of crude proceeds, the fund said in a report seen by Bloomberg News. The country, South America’s third poorest with an average per capita income of around $4,000, has little experience of dealing with multinational behemoths such as Exxon.Terms of the 2016 contract “are relatively favorable to investors by international standards,” the IMF said in a report prepared for Guyanese officials. “Existing production sharing agreements appear to enjoy royalty rates well below of what is observed internationally.”IMF officials have visited the nation multiple times over the past nine months as they help improve its legal, fiscal and regulatory … [Read more...] about Exxon Sparks IMF Concern With Weighty Returns in Tiny Guyana
To report corrections & clarifications, contact: Please indicate whether you're responding to content online or in the newspaper. The following corrections & clarifications have been published on stories produced by USA TODAY's newsroom: April 2018 News: A previous version of this story misstated Elliot Rodger's weapons. He used both a knife and a gun. https://www.usatoday.com/story/news/2017/03/31/masculinity-traditional-toxic-trump-mens-rights/99830694/ Video: A previous version of this video misstated the number of Americans living with unhealthful levels of pollution. https://www.usatoday.com/media/cinematic/video/33952141/8-of-americas-10-most-ozone-polluted-cities-are-in-this-state/ Opinion: Because of an editing error, a headline in an earlier version of this column incorrectly described Amy Wax's job status. https://www.usatoday.com/story/opinion/2018/04/20/black-students-law-school-amy-wax-column/510510002/ … [Read more...] about Corrections & Clarifications