AT&T's court win in Time Warner takeover major setback for US Justice dept

AT&T’s sweeping court victory allowing its takeover of Time Warner delivers a sharp setback to the Justice Department’s new approach to policing mergers under President Donald Trump and promises to spark a merger wave across industries. The federal judge’s decision raises the bar for the government’s ability to challenge deals between companies that don’t compete directly. That opens a pathway for firms contemplating such deals, especially in media where distributors are racing to acquire content companies. Comcast is expected to be the first out of the gate, making a formal offer for 21st Century Fox assets as early as Wednesday, according to a person with knowledge of the matter who asked not to be identified because the details are private. At issue for Comcast and other companies is how antitrust enforcers will approach so-called vertical deals that unite companies operating in different parts of a supply chain rather than direct competitors.

Global stocks, dollar tumble as Trump sparks global trade war fears

The spectre of a global trade war sent world stocks tumbling towards a 2.5 percent weekly loss on Friday, and left bruised investors reaching for the traditional antidotes - government bonds, gold and the Japanese yen.

The falls came after U. S. President Donald Trump said the United States would impose tariffs of 25 percent on imported steel and 10 percent on aluminium, sparking concerns of retaliatory moves from major trade partners China, Europe and neighbouring Canada.

Europe's STOXX 600 index fell over 1.5 percent led by a near 5 percent slump from world's biggest steelmaker ArcelorMittal SA and 2.5 - 6 percent drops from the region's carmakers worried that they might be next.

Trump, his policies are unpopular worldwide, American image suffers: Survey

President Donald Trump and many of his key policies are broadly unpopular around the globe, and ratings for the US have also declined steeply in many nations, a new survey has revealed.

The survey spanning 37 nations by the Washington-based Pew Research Centre issued late Monday showed a median of just 22 per cent has confidence in Trump to do the right thing when it comes to international affairs.

This stands in contrast to the final years of Barack Obama's presidency when a median of 64 per cent expressed confidence in Trump's predecessor to direct America's role in the world.

The sharp decline in how much global citizens trust the US President is especially pronounced among some of America's closest allies in Europe and Asia, as well as neighbouring Mexico and Canada.

Across the 37 nations polled, Trump gets higher marks than Obama in only two countries: Russia and Israel, the survey said.

According to the survey, globally 65 per cent think Trump is intolerant and 62 per cent that he is dangerous.

In countries where confidence in Trump declined most, the US' overall image also tended to suffer more.

In the closing years of Obama's term, a median of 64 per cent had a positive view of the US, while now, just 49 per cent are favourably inclined toward America.
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What next for US-Australian ties after Malcolm Turnbull mocks Donald Trump?

As has been widely reported, Australia's Prime Minister Malcolm Turnbull recently lampooned Donald Trump in a stand-up performance at Canberra's Midwinter Ball. The ball is the Aussie equivalent of the White House correspondents dinner that Trump boycotted this year, except that proceedings are supposed to be confidential.

The pair had a bumpy start to their relationship. A phone call in late January between the two was far from harmonious with Trump extremely critical of a refugee resettlement deal negotiated with the Obama administration. He allegedly told the PM that it was “the worst call by far” to a world leader and tweeted:

Do you believe it? The Obama Administration agreed to take thousands of illegal immigrants from Australia. Why? I will study this dumb deal!

— Donald J. Trump (@realDonaldTrump) February 2, 2017

His administration eventually agreed to implement the agreement. Asylum seekers are currently being assessed with extreme vetting.

Audio of the send-up was leaked by veteran Australian political journalist Laurie Oakes. He argued that he did not feel obliged to follow the “off-the-record tradition” as he did not attend the event and thinks the ban is inappropriate. The Guardian's Katharine Murphy agrees:

If the press gallery continues to agree that midwinter ball speeches off the record, we have jumped the bloody shark https://t.co/KFCbpbFf09

— Katharine Murphy (@murpharoo) June 15, 2017

Turnbull's routine involves some impersonation of the president complete with gestures. Politicususa summarised the script:

“The Donald and I … we are winning and winning in the polls. We are winning so much We are winning like we have never done before. We are winning in the polls. We are. Not the fake polls. Not the fake polls. They’re the ones we are not winning in. We are winning in the real polls. You know the online polls. They are so easy to win. I know that, do you know that? I kind of know that. They are so easy to win. I have this Russian guy..”
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McDonald's, the residue of American empire

Walking down the cobblestoned streets of Antigua, Guatemala, I looked at the sandy red roofs of the Spanish colonial-style houses. I watched stray dogs grovel on the streets as motorcycles drove by and the vendors sold freshly cut mango and passion fruit. I was a passing American foreigner trying to make sense of what I saw before me. The looming Volcán de Agua in the distance was a reminder that I was in a different world than the small-town suburbs of New Jersey where I grew up. But as I neared the community supermarket on Poniente Street, something familiar caught my eye: a clear set of golden arches on a dark brown sign hanging on a speckled red wall. It was a McDonald’s.

“Look at how many plants and trees and flowers they’re growing inside,” my Spanish teacher-turned-guide said as we watched customers order and pick up their food. “There’s even a large fountain for children to throw coins in and for families to sit around.” She was right. Gleaming in the sunlight, the McDonald’s fountain was the centrepiece of what looked like a miniature park. A life-size statue of Ronald McDonald sat on a bench next to the fountain looking over an outdoor plaza. “This may be the most lavish place in Antigua,” she concluded. There was a hint of disbelief in her voice, as though something wasn’t quite right. And yet her tone didn’t betray any cynicism or exasperation.

American reviewers on Trip Advisor seemed to agree with my teacher’s assessment, but not her tone. “The Most Beautiful McDonald’s in the World,” read one commentator’s proud title. Others called it a “hidden gem” and “a little bit of paradise for Antigua” with a “beautiful atmosphere and regular hamburgers.” A New York City visitor wrote that “if this place was named anything else, it would be in every guide book.”

McDonald’s wasn’t the only American fast food establishment on Poniente Street. Opposite the Golden Arches was a Little Caesar’s Pizza, and further up the road, a Burger King with all the same features. All three teemed with costumers – American and Guatemalan alike – sometimes trailing out of the front door. Indeed, Guatemala appeared as though it really had become “America’s backyard,” to borrow the lexicon of the US policymakers who plotted the 1954 coup in the country.
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Donald Trump tells Merkel he is not an isolationist; calls for 'fair trade'

President Donald Trump on Friday dismissed the notion that he was an "isolationist" in his policies, as he held talks with German Chancellor Angela Merkel and asserted that Germany and the US must work together towards fair and reciprocal trade policies.

"My administration is in the process of rebuilding the American industrial base. A stronger America is in the interest, believe me, of the world as a whole," Trump told reporters at a joint news conference with the visiting German Chancellor Merkel.

Germany and the United States, he said, must work together towards fair and reciprocal trade policies that benefit people of both the countries.

"Millions of hard-working US citizens have been left behind by international commerce, and together, we can shape a future where all of our citizens have a path to financial security. The United States will respect historic institutions and we will also recognise the right of free people to manage their own destiny," Trump said.

On immigration, another issue dividing Merkel and the new US president, Trump said immigration was a "privilege" and not a "right".

Responding to a question, Trump refuted the impression that he is an isolationist.

"I don't believe in an isolationist policy. But I also believe a policy of trade should be a fair policy. The United States has been treated very, very unfairly by many countries over the years. That's going to stop. But I'm not an isolationist," he said.

"I'm a free trader, but I'm also a fair trader. Our free trade has led to a lot of bad things happening. You look at the deficits that we have, and you look at all of the accumulation of debt. We're a very powerful country. We're a very strong country," said the US President.(READ MORE)