USA   –  It is not only the Republican establishment confronting the once-unthinkable reality that Donald Trump is the presumptive GOP presidential nominee. World leaders who previously dismissed and ridiculed the former reality TV star also are adjusting to a new normal.

British Prime Minister David Cameron, who at one point called Trump’s proposed ban on Muslim foreigners entering the United States “divisive, stupid and wrong,” said Thursday at a press conference with Japanese Prime Minister Shinzo Abe that Trump “deserves our respect” for making it through the primaries. Abe, whose country was aghast at Trump’s idea of Tokyo acquiring nuclear weapons, was unable to suppress a smirk at his host’s comments. The British leader did not offer an actual mea culpa for his earlier statements, despite a Trump adviser having called on Cameron to apologize for his initial outburst. Indeed, Cameron went on to say that his view about Trump’s comments remains. .(CNN.COM)…[+]

SAUDI ARABIA   –  Ali al-Naimi was the most powerful man in the oil business for two decades until this weekend. As the oil minister of Saudi Arabia, in control of the largest proven crude reserves in the world, al-Naimi was the de-facto leader of OPEC.

At one point he held three key positions at the same time: Minister of petroleum, chairman of Saudi Aramco and chairman of Saudi’s Supreme Petroleum Council. In a word, he called the shots, and he let other OPEC ministers know just that. The past year and a half had been particularly important, as oil prices crashed and oil-dependent countries looked to Saudi Arabia to lead the effort to support prices.  Al-Naimi pivoted the other way. No longer would Saudi Arabia cut its oil production to lift prices, he told CNNMoney outside a meeting of oil producers in December 2014. His strategy instead was to protect Saudi Arabia’s market share, even if the falling prices bruised its economy as well. .(CNN.COM)…[+]

GREECE   –  Buffeted once again by protests on the streets outside, Greece’s parliament has voted by a razor thin margin to cut pensions and increase taxes ahead of a crucial meeting in Brussels yesterday.

At the meeting, Eurozone finance ministers will again debate whether to provide financial support to the beleaguered country. Late Sunday evening, Greek Prime Minister Alexis Tsipras’ coalition passed pension and tax reforms, which cover the majority of a €5.4 billion ($6.15B) package of austerity measures requested by creditors. A slim majority of lawmakers, 153 of 296, voted in favor of the bill. The vote session was an effort to convince Eurozone finance ministers that Greece is serious about financial reform a necessary condition for a further rescue package and, crucially Greek debt relief from the Eurozone. (CNN.COM)…[+]