Our daily trip around the world

🇪🇸 Spain’s #MeToo moment continues to gain steam. Spanish prosecutors are investigating Luis Rubiales, the president of the country's soccer federation, for sexual assault over his nonconsensual kiss of a women’s national soccer team member following their World Cup victory. The backlash against Rubiales has continued to grow in recent days, with Spain’s prime minister calling the kiss an “unacceptable gesture” and the country’s equality minister describing it as a “form of sexual violence that we women suffer on a daily basis and until now has been invisible.”

🇨🇳🏗️ Chinese developer Evergrande saw its stock fall 79% in its first day of trading since March 2022. Evergrande was once China’s largest real-estate developer before it defaulted on its ~$300 billion worth of debt in 2021 and failed to publish financial results for the year, prompting the Hong Kong stock exchange to suspend the company’s listing. Evergrande’s stock resumed trading yesterday after the firm belatedly published financial results for the past two years, showing a net loss of more than $113 billion over that period.

🇫🇷🍷 The EU and French government are paying winegrowers $216 million to destroy their surplus stock. A global drop in demand for wine in recent years has led to overproduction, a sharp fall in prices, and major financial difficulties for many winemakers in France, especially in the Bordeaux and Languedoc regions. Officials say the new government funds are “aimed at stopping prices collapsing” in the industry, and will be used by producers to distill their wine into pure alcohol for other products like cleaning supplies or perfume.