The Last Weekly Snapshot of the Year

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Amyn Dehal
March 16, 2024

Good morning! This week’s Weekly Snapshot is the final one of the school year. Thank you for all of the support. We hope you learned something along the way!

Haiti finds itself at a crossroads, grappling with an intensifying political and security crisis that threatens the very fabric of its society. The resignation of Prime Minister Ariel Henry amid escalating gang violence has thrust the nation into uncharted waters, raising urgent questions about governance, the influence of gangs on politics, and the role of the international community in restoring stability.

The Political Landscape: From Moïse to Henry

The assassination of President Jovenel Moïse in July 2021 marked a dramatic escalation in Haiti's political instability, setting the stage for Ariel Henry's tumultuous tenure. Henry's administration faced insurmountable challenges: the absence of elections, waning legitimacy, and increasing demands for his departure, painting a grim picture of a nation in distress.

Gang Influence and Power Dynamics: The ascendancy of gangs in Haiti, particularly in Port-au-Prince, underscores a disturbing trend. Gang alliances such as the G9 Family and Allies, and G-Pep, have filled the political vacuum, leveraging violence and intimidation to wield power. Their public denouncements of international interventions reveal the complex interplay between gang dominance and Haiti's political upheaval. 

The International Response: A Fractured Effort

Efforts by the U.S., UN, and Caricom to mediate have met with mixed success, hindered by the contentious proposal of a multinational security force. The hesitancy of potential contributors, like the Kenyan police force, underscores the daunting challenges of foreign intervention in Haiti's delicate situation.

The path to stability remains fraught with challenges, yet it is the resilience of its people and the concerted efforts of the global community that hold the key to navigating the nation towards a hopeful future.

Boeing Whistleblower Found Dead

For not the first time this year, Boeing has appeared in news headlines due to a controversial event. A former whistleblower about the company’s poor production standards, John Barnett, was found dead in his truck in a hotel car parking lot on the weekend. The 62-year-old had worked for Boeing for over 30 years before his retirement in 2017 and had first began interviewing with BBC in 2019 about the sub-standard conditions at Boeing.

Barnett had blown the whistle on Boeing, explaining to BBC how the airline company was aware that employees were deliberately fitting sub-standard parts onto aircrafts on the production line due to too much pressure on the workers. Barnett explained how Boeing employees would remove parts from the trash bins and fit them onto planes to keep the production line on time. All claims made by Barnett were denied by Boeing, and Barnett followed up by suing the company, claiming they had retaliated against him in a way that diminished his public image and impacted his career.

At the time of his death, Mr. Barnett had been staying in Charleston for interviews relating to the case. His death was reported as a self-inflicted gunshot wound, and post-public announcement of Mr. Barnett’s death, Boeing airlines released the following statement: “We are saddened by Mr. Barnett's passing, and our thoughts are with his family and friends."  

📈 Market Updates

Economic Pulse 🌐 

This past week, the US House of Representatives passed a bill that could mean the end for TikTok in the USA. The bill targets Byte Dance’s stake in the company and forces the Chinese company to sell its stake in TikTok if it wishes to continue operations in the USA. In other news, the social media company Reddit is targeting an IPO with a valuation of USD 6.4 billion. Reddit’s plan to go public has been in the works for multiple years and analysts suggest that it could be one of the “most anticipated stock market debuts of the last few years”.

Money Moves 💰️ 

Cisco has received unconditional approval from the EU antitrust regulatory board in its 28 billion dollar bid for cybersecurity firm Splunk. This acquisition would be Cisco’s largest and would play a significant role in developing its software business. In other news, private equity firm KKR has launched its 3 billion dollar public takeover of German electricity and energy producer Encavis. KKR is expected to offer the company a price of 19.13 per share, and representatives from Encavis have expressed their support for the proposed deal. 

👀Job Opportunities

📞Word on the Street

Senior Editor: Amyn Dehal

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