How Nickel Is Driving Deadly Riots in France’s New Caledonia Territory

WSJ What’s News

The Wall Street Journal

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🗓️ 22 May 2024

⏱️ 14 minutes

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Summary

P.M. Edition for May 22. French President Emmanuel Macron is heading to France’s Pacific territory of New Caledonia, in an attempt to end riots that have rocked the archipelago. And three European nations say they will recognize a Palestinian state amid frustration with Israel’s handling of the war in Gaza. Plus, The Wall Street Journal’s Nicole Friedman explains why the housing market remains stalled as U.S. home sales fell for the second straight month. Sabrina Siddiqui hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Revolute. Revolute is your perfect travel
0:04.7	companion for all things money. You can spend in over 150 currencies with great
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0:18.3	slash podcast reward and receive 20 pounds when you make your first purchase with Revolute.
0:23.6	Until 18-plus, T's and C's apply, exchange fees and fair usage limits supply. U.S. home sales fall again as high mortgage rates continue to stall the market.
0:38.6	And French President Emmanuel Macron is headed to the violence hit French territory of New Caledonia.
0:44.0	In the background of this was also a proposal from France to get greater control
0:50.5	over New Caledonia's nickel industry. It is a strategic material for France.
0:58.0	Europe is trying to build up its electric vehicle battery and electric vehicle industry, and it needs the raw materials to make that
1:06.0	industry work. Plus British Prime Minister Ritchie Sunak has called a
1:10.0	snap election for July 4th. It's Wednesday, May 22nd. I'm Sabrina Siddiqui for the Wall Street Journal.
1:15.5	This is the PM edition of What's News, the top headlines and business stories that move the world today. Let's start with the war in the Middle East.
1:27.0	Three European nations said they would recognize an independent Palestinian state
1:31.6	reflecting deepening frustration with Israel's war in Gaza.
1:35.0	Norway, Spain and Ireland said today they would begin taking the steps necessary to bring into effect their recognition of a Palestinian state. They also said they expected
1:44.2	other countries to follow in the coming weeks. The move runs counter to Washington's
1:48.8	long-held position that a future state comprising the Gaza Strip, the West Bank, and East Jerusalem should come about
1:54.5	through a negotiated solution to the Israeli-Palestinian conflict.
1:58.6	Israeli Prime Minister Benjamin Netanyahu said plans by European countries to recognize the
2:02.2	Palestinian state were a reward for terrorism
2:05.8	and that it would not bring peace. Israeli foreign minister Israel Katz said he recalled the Israeli
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