Global Economy News
LAST UPDATE: June 13, 2025
Brazil bank chiefs balk at tax hike proposal, urge spending review
CEOs of Brazil’s major banks, including BTG Pactual, Bradesco, and Santander, criticized proposed tax hikes on betting and financial transactions, calling instead for public spending reforms .
Insight
The clash highlights a divide between Lula’s revenue-driven fiscal approach and the private sector’s push for stricter expenditure control. How this is resolved will shape Brazil’s fiscal trajectory.
Global nuclear arms spending up 11% in 2024, campaign group says
A report by ICAN revealed that nuclear-armed nations increased spending by $10 billion in 2024—an 11% rise to $100.2 billion—with the U.S. leading at $56.8 billion .
Insight
Despite diplomatic tensions, global powers continue investing heavily in nuclear modernization. ICAN highlights the imbalance, noting that this military expenditure could instead fund the UN 28 times over.
