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The resignation of Ahmed Shafiq, a former Air Force official who was close to Mubarak, from the prime minister's position. He will be replaced by Essam Sharaf, a former transport minister. Protest leaders had suggested Sharaf's name to the military running the country. ElBaradei former head of the IAEA and Amr Moussa of the Arab League had pushed for Shafiq's resignation. Sharaf is an engineer who studied for his Ph.D. at Purdue University in the U.S. In Egypt the changes demanded by the protests for democracy are still unmet. The emergency laws are still in place, the large internal security services have not been disbanded. One example of this was the arrest just last week of one protestor and sentencing by a military court within 3 days to 5 years in prison.

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Pfizer said it will move on and end its efforts to merge with Astra Zeneca of the UK in a $120 billion deal, which has focussed on tax advantages by basing Pfizer in a lower tax location.

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Keir Starmer of Labour says he stands behind every word in the ad that shows Tories including Sunak are weak in prosecuting crimes against woman and children. Labour says it will halve violence against women and girls. Starmer says- he will "make absolutely zero apologies for being blunt." That Labour will continue to use the Conservatives record on crime as legitimate criticism no matter how squeamish it made some people feel. "For the first time in my lifetime, everywhere you look from the economy to the NHS to the chaos on our streets- we have been set on a path of decline." Starmer said the last decade had seen the UK "become a country where thugs, gangs and monsters mock our justice system and make decent people's lives a misery." Starmer was head of public prosecution in Britain from 2008 to 2013. As early as 2002 he was Queen's Counsel. He was also a human rights adviser for Northern Ireland Policing Board and Association of Chief Police Officers. Starmer cites his work in improvements in Northern Ireland policing as one of the key factors in his decision to pursue a political career. The issue in the ad is a subject in which Starmer has much experience. ...

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This report  by Joshua Partlow in the Washington Post shows frequent and extensive contacts between Mexican officials and the Trump administration. Skeptical experts say this is mostly damage control. Yet it has helped defuse tensions on NAFTA and other issues, in some situations having president Trump reverse his stance. Mexico sends 80% of exports to the U.S., making this relationship crucial. Yet the scaling down of plans for a border wall, the emergence of a solution to NAFTA through changes without canceling NAFTA with support from Wilbur Ross, the Commerce Secretary, show the dialogue has preserved relations. Uncertainties loom such as the trade stance of president Trump, and the potential of front runner Lopez Obrador from the opposition party to emerge in upcoming elections as the new president of Mexico. Obrador, a former mayor of Mexico who was a close contendor in previous elections, says he will take a different stand than the current government in negotiations. Mexico's Foreign Minister Luis Videgaray made 12 trips to Washington in 2017 as part of the effort by the Mexican government to preserve NAFTA with some changes. He has relationships with John Kelly and Jared Kushner in the Trump administration that have facilitated his efforts.  ...

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BBC News covers the opposition by business leaders in the U.S. to president Trump's decision to withdraw the U.S. from the Paris climate change agreement. Elon Musk of Tesla and Robert Iger of Disney say they will quit working on the president's advisory councils. Walmart, Apple, Google and other companies also opposed the move. Energy companies Exxon and Chevron also opposed the move. This reduces the business community's confidence in and support for the Trump administration. Some analysts see the Trump move as a way to satisfy the mood of his own election base of support among people who see the climate change accord as one more aspect of a rigged system of globalization, a theme Trump has used during his campaign in 2016. During the first 100 days many of the decisions Trump made took into account the views of business leaders from Boeing on the Export Import Bank, of Gary Cohn on tax reforms, of Wilbur Ross, the Commerce Secretary on NAFTA trade agreement. With the investigations in Congress underway the analysts see the move as political to shore up support with the Trump base. Yet it also brings with it the cost of losing support in the business community that has traditionally supported Republican presidents. ...

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The election of Ekrem Imamoglu helps to keep Turkish democracy alive by offering voters an alternative to AKP PArty and Mr. Erdogan. Unlike other politicians from the CHP opposition Party, Mr. Imamoglu was able to reach out to mainstream voters in Istanbul, a city of 16 million, where Mr. Erdogan began his effort to offer an alternative in the Turkish politics of the time dominated by the military and the CHP. Imamoglu reaches out to pious AKP voters and to working class voters in a way that other CHP politicians have not. Imamoglu says " Lots of AKP voters asked me why I wasn't running for their party instead. They were pleased when I asked for their prayers rather than their votes. I don't believe the public accepts divisive rhetoric and discriminatory policies." About the populist sentiment that Erdogan aroused in Turkey during the last decade to provide more inclusive atmosphere, Imamoglu says- "Populism has the upper hand in the world at the moment but it will end eventually. Treating people with respect always wins out." Imamoglu's family is in the construction business and he entered politics in an effort to reduce the red tape facing business, and became mayor of the middle class district of Beylikduzu district in the 2014 elections. ...

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Saudis and Russia fail to reach an agreement on cutting production in response to lower demand after the coronavirus crisis, resulting in Saudi decision to boost output and cut prices.  Saudi prince Salman asks ministries to lower budgets for expenditures. Saudi oil production was boosted by 300,000 barrels a day (bbd) to 12.3 million bbd. Saudis also cut oil price which is at about $34 a barrel on March 9, 2020 for Brent crude. Meanwhile behind the rhetoric from Saudis a mediation effort is being made by Mr. Falih from the Saudi side with Mr. Novak of Russia. Mr. Falih is minister of investments. He was the oil minister who negotiated an agreement with Russia in 2016.  The U.S. under president Trump sees oil price reduction as good for the economy in the face of the coronavirus impact. The U.S. oil shale industry will be affected with more bankruptcies, as many companies cannot operate at $30 a barrel. The Saudi budget requires a price of $60 which is why the Saudis favored production cuts but failed to convince Russia. Russia sees no need for production cuts at this time. Russia is also better positioned to handle the oil price decline as its budget is less dependent on oil prices. ...

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The continuing decline in copper prices in Nov. 2015, and the Federal Reserve's decision to hold off on raising rates, are the subject of this comment.

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Copper supplies are expected to be constrained in 2015-2016. Copper demand was up 18% in China in 2014 even with the slowdown in housing. This suggests the future for copper prices may be brighter than it is for other commodities such as crude and iron ore.