Executive Leadership Briefing

Indonesia palm oil export ban expected to raise all edible oil prices- April 25, 2022


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French President Emmanuel Macron won re-election over far-right candidate Marine Le Pen in a decisive victory, but Macron faces legislative elections in June that could stall his agenda. Macron is the first French president in two decades to win a second term, offering stability to a European political landscape that has seen years of challenges from far-right populists. The French presidential campaign was especially challenging for immigrants and religious minorities as discriminatory rhetoric and proposals gained popularity within the country.
Florida Gov. Ron DeSantis signed a bill revoking Disney World’s “independent special district” status Friday as the company pushed back against the state’s controversial “Don’t Say Gay” bill. Nearly $578 million in tax credits through 2040 for Disney remain intact under the bill. Although the bill is expected to undercut Disney’s autonomy, local taxpayers could be responsible for $1 billion in bond debt, according to tax officials and legislators.
Indonesia announced it will ban exports of palm oil starting Thursday, a move that is expected to lift prices of all edible oils worldwide. As markets were rocked over the weekend, the government adjusted the ban to allow certain palm oil types to be exported until the country’s domestic shortage is resolved. The decision could strain consumers in Asia and Africa that are already hit by high fuel and food prices.
Dozens of protests coinciding with Earth Day culminated Saturday to call on President Joe Biden and Congress to pass a climate bill that has stalled in the Senate since December. Sen. Joe Manchin (D-W.V.) pressed for Democrats to compromise on climate action with more domestic fossil-fuel production as voters face pressure from high energy prices. Multiple states faced extreme weather conditions over the weekend as a powerful spring storm dropped up to 20 inches of snow in the Dakotas and strong winds and high temperatures fuled wildfires in four western states.
Workers switching jobs in the Great Resignation are seeing up to double-digit pay increases, fueling bargain power and threatening to keep inflation high. Roughly 64% of job-switchers said their new job provides more pay than their previous one, with nearly 9% making at least 50% more, according to a ZipRecruiter survey. The tech sector is especially accelerating wage inflation as some companies have boosted compensation by 20% or more for key roles to compete in limited worker pools skilled in areas like cloud computing and data science.
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