Weekly Market Update - 20 February 2023

Nuclear Relations

International atomic monitors in Iran have detected uranium enriched to levels just below that needed for a nuclear weapon. The International Atomic Energy Agency is trying to clarify how Iran accumulated uranium enriched to 84% purity — just 6% below what’s needed for a weapon. Meanwhile, North Korea fired a barrage of suspected ballistic missiles Monday, less than two days after Pyongyang launched a long-range rocket designed to carry a payload to the American mainland.

Source: Bloomberg

Subscription Services

Facebook parent company Meta is launching a subscription service called Meta Verified that will include a handful of additional perks and features, for those who pay. The new subscription will cost $11.99 per month — or $14.99 if purchased through the iOS app — and is primarily targeted at content creators. The subscription includes a verification badge, access to account support, and increased visibility and reach, Meta said. It will be tested first in Australia and New Zealand, starting later this week. Meta joins Snapchat and Twitter in pushing subscriptions as a way to diversify their advertising-reliant businesses.

Source: Bloomberg

Hot Airbaloons

Secretary of State Antony Blinken is considering a meeting with Wang Yi, China’s top diplomat, at a security conference later this week, in what would be their first face-to-face talks since the uproar over a Chinese balloon. The news came as the US sought to dial back warnings about a threat to national security, saying China’s alleged spy balloon — the first of four objects shot down by the US — had only limited benefit to Beijing’s surveillance program. Efforts to recover the balloon’s payload and the remains of three other objects are still underway. Meanwhile, China accused the US of sending more than 10 balloons over its territory since the beginning of 2022.

Source: Bloomberg