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Tory MPs paid £100,000 of public funds to party’s in-house web designers 2024-06-23 11:08:00+00:00 - More than 120 Conservative MPs, including Jeremy Hunt, Liz Truss, Sajid Javid and Gillian Keegan, paid £100,000 of taxpayers’ money to the Conservatives’ in-house web design services, it can be revealed. The MPs used the Bluetree website service to design their websites. When billed by Bluetree, they would pay for the sites then claim back the costs from the public purse via expenses, prompting a complaint to parliament’s expenses watchdog about the practice. Conservative Campaign Headquarters (CCHQ) has denied Bluetree is wholly owned by the party and says it is a separate organisation, but repeatedly refused to deny the party receives income from the company, saying it has “commercial arrangements with CCHQ”. Records show more than 330 invoices from Bluetree to Conservative MPs, including Hunt, Truss, Javid and Keegan, for web design services. Other high-profile Conservatives who have expensed services from Bluetree include Ben Wallace, Tobias Ellwood, Mark Francois and Helen Whately. The company – which describes itself as the “Conservative party UK official website platform” and says it is run “inside the party” – has an address that is the same office as CCHQ and has been paid £100,695 in taxpayers’ money since 2019. The Independent Parliamentary Standards Authority (Ipsa) has said it would not allow websites to be funded if it was clear they were being used for party political purposes – regardless of the services offered by the company. It said if any evidence was found that rules had been broken then it would work with the MP to make amendments or repay expenses. Senior transparency campaigners said they were alarmed if MPs were using taxpayer funds that could end up with the Conservative party. Tom Brake, the director of Unlock Democracy, said the money should be repaid if any surveys from the website were used to give MPs information for campaigning. “The rules are clear. Taxpayers’ money cannot be used by MPs for party political campaign purposes. Yet Bluetree’s promotional material about their websites makes it clear that that is their intended purpose,” Brake said. “Running surveys on a website, paid for with public money, which elicit information about likely voting intention constitutes a breach of the expenses rules. Unless these activities have been separately funded by the MP, any MP using taxpayer’s funds in this way should be required to reimburse them immediately.” Rose Whiffen, a senior research officer at Transparency International UK, said: “There are rightly strict rules governing what MPs can and cannot claim on expenses, including using public money for political purposes. “Any allegations that MPs have used their taxpayer-backed expenses to fill the coffers of their respective political parties should be investigated. MPs should carefully avoid any expenditure that could be seen to be misusing public money to the benefit of their respective parties.” The Labour councillor James Walsh made the complaint to Ipsa. He is running against Hunt in the Godalming and Ash constituency, though the Lib Dems are favourites to take the seat. Walsh said the authority should investigate the expenses. “There would be nothing intrinsically wrong with any of the above if these website services were something the individual MPs or the Conservative party were paying for out of their own funds, but for those costs to be charged to the taxpayer in the form of Ipsa expense claims strikes me as an outrageous misuse of taxpayers’ money,” he wrote. A Conservative party spokesperson said: “Bluetree is an independent organisation but is a preferred supplier of the Conservative party. MPs using Ipsa money for a website to promote constituency activity is compliant with Ipsa rules. Bluetree works closely with Ipsa to ensure guidelines are followed. skip past newsletter promotion Sign up to Election Edition Free daily newsletter Make sense of the UK election campaign with Archie Bland's daily briefing, direct to your inbox at 5pm (BST). Jokes where available Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion “Bluetree and the Conservative party have made it clear to candidates who were MPs that they should not be using any Ipsa-funded website during the election.” The party said Bluetree was part of a registered company separate from the Conservative party but would not say what that company was. All contact details for Bluetree on its website are directed to CCHQ and Bluetree does not have a separate Companies House registration. MPs have frozen their websites during the election campaign to avoid breaking rules on using the taxpayer-funded sites. The website of Bluetree promotes features to be used by campaigners. It says it has “the only software designed to provide Conservative MPs with the features to campaign effectively online throughout the election cycle” and that “candidates who use Bluetree consistently receive a higher vote share than those who don’t”. It says: “We have spent more than a decade working inside the party to provide tools that you simply cannot get elsewhere.” It also promises a site that is “compliant with Ipsa, the UK, Scottish and Welsh parliaments, the Electoral Commission and the information commissioner”. The site directs any queries about sites designed by Bluetree to CCHQ and contains the Conservative imprint: “Promoted by Alan Mabbutt on behalf of the Conservative party.”
Biden campaign lays out debate week strategy in new memo 2024-06-23 11:00:00+00:00 - WASHINGTON — The Biden campaign and its allies plan to hold 1,600 events and run a new slate of TV and digital advertisements ahead of Thursday’s presidential debate, which they called “one of the first moments … where a larger slice of the American electorate” will tune in to the campaign, according to a new memo obtained first by NBC News. The events will include a nationwide mobilization of surrogates, events targeting groups the campaign sees as crucial to its coalition, like members of the LGBTQ community and college students, and 300 debate night watch parties. Some of those watch parties will be hosted by social media content creators — to whom the campaign says it will grant access to the post-debate spin room, a place usually reserved for credentialed media. This pre-debate push will kick off Monday, when the campaign and its allies will host 16 events across a dozen states to mark the second anniversary of the Supreme Court decision overturning Roe v. Wade, including events featuring Vice President Kamala Harris in Maryland and Arizona. The Biden campaign is looking to present the debate as “two distinct visions for the future,” driving a contrast between the presumptive nominees in a razor-thin race less than five months before voters cast ballots. Voters will see “President Biden, who is fighting for the American people, and Donald Trump, who will walk on stage as a convicted felon fighting for himself no matter how much harm he inflicts on the American people,” said Biden campaign spokesman Michael Tyler in the memo. Tyler laid out key issues where Trump “continues to pose the most extreme threat,” pointing to the end of Roe v. Wade, attacks on democracy and economic plans. An NBC News poll from April found that a plurality of registered voters — 23% — said that inflation and the cost of living was the most important issue facing the country. But the same poll found that Trump pulled ahead by 22 points when voters were asked which of the two men would be better at dealing with the issue. Biden is spending several days at Camp David preparing for Thursday’s debate, including going toe-to-toe with his personal lawyer Bob Bauer, who is role-playing as Trump. Bauer also played Trump during debate preparation in 2020. Bauer is joined by a slew of Biden confidants who are working to prepare the president ahead of the debate, including former chief of staff Ron Klain, campaign chair Jennifer O’Malley Dillon and White House senior adviser Anita Dunn. Trump has been holding informal policy sessions ahead of the debate. A campaign official also said that Trump’s rallies and interviews demonstrate “elite stamina,” adding that the former president “does not need to be programmed by staff” like Biden. Polling indicates that the race to the Oval Office is neck and neck, with a Fox News poll from last week showing Biden garnering support from 50% of registered voters, compared to Trump getting 48% support, which is within the poll’s margin of error.
Tories did not lay waste to the economy, but the myth suits Labour’s campaign message | Larry Elliott 2024-06-23 11:00:00+00:00 - Labour will win by a mile but is coming to power at the worst possible moment. The economy has been laid waste by the Conservatives, who have deployed a scorched earth policy that will ensure the incoming government has the inheritance from hell. That, at least, is the conventional wisdom, a view that Keir Starmer and Rachel Reeves have done nothing to counter. There is a reason for that. It suits Labour’s campaign message to paint the blackest possible picture so that it can blame the Tories for any tough decisions they have to make. Even so, the conventional wisdom is wrong. Without in any way minimising the challenges Starmer and Reeves face, this is actually not a bad time to be arriving in office. Sure, excessively high interest rates threaten to derail the UK’s fledgling recovery. No question, years of weak productivity growth, coupled with the cost of a pandemic, and a cost of living crisis have left the public finances in a mess. Nobody would dispute that the economy is in a worse state than it was the last time Labour emerged from opposition in 1997. Covid has left deep and permanent scars. That said, the new government will have a number of things going for it. For a start, expectations are at such a rock-bottom level that it won’t take much to exceed them. The desire of voters to get rid of the Tories does not appear to be matched by a similar enthusiasm for what Labour is offering. Faith in politicians of all stripes is at a low ebb, so nobody is anticipating much. Then there’s the fact that the Tories have been forced to clear up their own mess rather than – as was the case in 1964 and 1974 – leaving Labour to do the dirty work. And, to be fair, Sunak has made a reasonably good fist of it. It is not really true that the Tories have been laying waste to the economy. On the contrary, Sunak and Jeremy Hunt have taken some extremely unpopular decisions – the six-year freeze on tax allowances, for example – to reduce public borrowing. Given the chaos they inherited from Liz Truss, they perhaps had little option but to play things straight, but Hunt’s decision to provide firms with permanent 100% tax relief on investment spending was a smart move. It addresses one of the economy’s enduring weaknesses and should bear fruit over time, helping Labour more than it has the Conservatives. At the end of 2022, shortly after Truss left office, the Bank of England was expecting the longest recession in 100 years, one lasting from the summer of 2022 to the middle of this year. The economy did end up in recession, but it was a short-lived and shallow affair lasting just two quarters and nothing like as severe as slumps of the past. All things considered, the economy held up a lot better to higher interest rates and rising taxes than the Bank feared. The current state of the economy also suggests there is going to be a post-election bounce. Household budgets are much less stretched than they were a year ago because pay is rising faster than prices. That’s insufficient to make good the losses suffered earlier in this parliament, but it does mean consumer confidence is on the up. There is evidence from the latest S&P snapshot of the economy that households have been putting off spending decisions until after the election. Sooner or later, the Bank of England will decide the time is right to reduce interest rates. Theadneedle Street’s monetary policy committee kept interest rates on hold at 5.25% this week but signalled that cheaper borrowing costs may not be that long in coming: either in August or September. The fact that some of the seven members who voted for no change said the decision was “finely balanced” could mean the former. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The Bank accepts that the 14 interest rate increases between December 2021 and August 2023 are dampening activity, and its policy stance will remain restrictive even when rates start to come down. But the fact that the Bank is likely to move shortly after Labour arrives in power will reduce borrowing costs for consumers and businesses. This should cement the idea that a change of government has had a positive effect. Interest rates could be as low as 3% by the end of 2025. Nor is Reeves as boxed in by fiscal policy as is assumed. She is committed to the same debt rule as Hunt – namely that debt as a share of national income should be falling at the end of a rolling five-year period. But as Andrew Goodwin, of the Oxford Economics consultancy, points out, the measure of debt used includes the impact of the cost of the Treasury indemnifying the Bank of England for losses when it sells UK bonds gilts bought under the money creation scheme known as quantitative easing. Tweaking the debt rule to exclude these payments would give Reeves an extra £20bn to play with, and it would be a major surprise – and a missed opportunity – were she not to announce the change in an autumn budget. The way things are shaping up, that budget will take place with the Conservative party in turmoil following a defeat of historic proportions. Unless there is another Covid-like shock to the economy, Labour will be able to plan for two full terms in office. If tough decisions are needed – as they probably will be – Starmer and Reeves can say that is a price that sadly has to be paid after 14 years of Tory incompetence.
Room to grow and eyes on U.S. market in China’s electric vehicle capital 2024-06-23 10:57:00+00:00 - LIUZHOU, China — Liuzhou may be a small city by Chinese standards, but it’s a big player when it comes to the country’s thriving electric vehicle industry. The city of 4 million, a longtime center of car manufacturing in the southwestern region of Guangxi, brands itself as an EV capital — and for good reason. Last year, it produced half a million EVs of all kinds, with the capacity to make about three times that. Huge industrial growth aided by the government has raised concerns about Chinese “overcapacity” in EVs and other clean energy products, leading U.S. and other Western officials to impose tariffs meant to make Chinese products less competitive abroad. But Chinese EV makers say they are just playing to their strengths. “Liuzhou is very competitive as a city for new energy vehicle manufacturing,” said Yu Hongqiao, who manages a factory here for Chinese EV maker Wuling New Energy. “First, the cost of manpower is very low. Second, the logistics cost is low,” he said in an interview in Liuzhou last month. “Third, the industrial foundation is there. Fourth, there is a lot of talent from the industry here.” Liuzhou is home to five major state-backed carmakers, including Wuling’s parent company, Guangxi Auto. One of them, FAW Group, is famous for making the Hongqi, a high-end car used by the government elite. At the other end, SAIC makes a popular $4,000 EV in a joint venture with Guangxi Auto and the American car manufacturer General Motors. Liuzhou is also filled with other companies that are part of the EV supply chain — about 300 of them — helping to speed production and keep costs down. A woman charges her electric vehicle in Liuzhou, southern China, on Jan. 24. Jade Gao / AFP via Getty Images The relatively low cost of Chinese EVs has helped them take off in popularity in China, where they are far more common on the roads than in the United States. U.S. EV makers such as Tesla, by contrast, have focused more on luxury models that are out of reach for many consumers. The price differential, experts say, stems in part from years of Chinese government subsidies and other support. From 2009 to 2023, that support totaled almost $231 billion, according to a blog post on Thursday by Scott Kennedy, senior adviser and trustee chair in Chinese business and economics at the Center for Strategic and International Studies, a think tank in Washington. The support, which Kennedy called “a highly conservative estimate,” came mainly in the form of buyer rebates and sales tax exemptions, but it also included research and development, government purchases of EVs and government funding for charging stations and other infrastructure. Government support and the resulting intense industry competition have helped China’s top EV makers make enormous progress, combining low prices with high quality. That has raised alarms for officials in the U.S., where Chinese EVs are not yet available. Citing concerns that Chinese companies could flood the U.S. with goods that undercut American competitors, the Biden administration last month announced plans to raise tariffs on Chinese EVs and other clean energy products, including 100% tariffs on EVs and 25% on EV batteries. The European Commission followed last week, announcing additional tariffs on Chinese EVs of up to about 38%. A small electric vehicle driving through Liuzhou in January. Jade Gao / AFP via Getty Images Beijing has criticized the Western tariffs as protectionist, damaging to economic ties and against the global interest in fighting climate change, and there are already signs of retaliation. The Chinese Commerce Ministry said Monday that it was opening an anti-dumping investigation into European pork products, and Chinese state media reported Wednesday that Chinese automakers had called on Beijing to increase tariffs on gasoline-powered cars imported from Europe. Though Liuzhou’s production is currently focused almost entirely on domestic consumers, the city is starting to eye overseas markets, including in the U.S. Yu, whose company set up an overseas department last month, said the U.S. tariffs were out of step with free-market principles. “Whether it’s a 25% or 100% tariff, it doesn’t impact us manufacturers as much as it hurts American consumers,” he said. “If a consumer needs a product, they will still buy — just at a higher price.” He also rejected U.S. accusations of Chinese overcapacity in EVs as “groundless.” “If your cost is low thanks to your scale and your price is more competitive, anyone can compete, right?” he said.
Fact-Checking Biden’s and Trump’s Claims About the Economy 2024-06-23 09:02:02.618000+00:00 - Consumer sentiment about the state of the economy could be pivotal in shaping the 2024 presidential election. President Biden is still grappling with how to address one of his biggest weaknesses: inflation, which has recently cooled but soared in his first years in office. Former President Donald J. Trump’s frequent economic boasts are undermined by the mass job losses and supply chain disruptions wrought by the pandemic. Here’s a fact check of some of their more recent claims about the economy. Both candidates misrepresented inflation.
‘We’re Still Paying’: How Pets Became a Big Business 2024-06-23 09:00:41+00:00 - Heather Massey brought Ladybird to the veterinarian when the 9-year-old mutt began having seizures. A scan from an M.R.I. machine revealed bad news: brain cancer. With the prognosis grim, Ms. Massey decided against further treatment at the animal hospital near her home in Athens, Ga., and Ladybird died four months later. The M.R.I. scan and related care had cost nearly $2,000, which Ms. Massey put on a specialty credit card she had learned about at a previous vet visit. That was in 2018. She is still paying off the debt, with more than 30 percent interest. “Could I afford to do that? Not really,” said Ms. Massey, 52, who is disabled and does not work. “Was it worth it to me? Yes.” Ms. Massey’s experience illustrates the expensive new realities of owning a pet. For decades, veterinarians typically operated their own clinics, shepherding generations of pets from birth to death. They neutered, vaccinated and pulled thorns from paws and noses. When animals became seriously ill, vets often had little to offer beyond condolences and a humane death.
Child Care, Cafés, Herman Miller Desks: It’s Not Your Average Gym 2024-06-23 09:00:27+00:00 - High-end gyms are no longer just places to sweat it out. The most exclusive ones offer not only state-of-the-art equipment, exercise classes and spacious locker rooms with cold eucalyptus-scented towels and fancy soaps but also “third places,” locations outside home and work where people can mingle and socialize. That means gyms are now also recreational centers and event spaces. They’re salons and spas. They’re hotels and workspaces. And they’re child care facilities. At Chelsea Piers in New York, the sports and entertainment complex along the Hudson River, members can get work done before, in between or after workouts at the gym’s lounge and co-working space, which opens up to a 44-foot ceiling and waterfront view. The gym also hosts events, like author talks and creative classes and workshops, for members. Nearby, the high-end gym Equinox opened a hotel in 2019 in Hudson Yards, and has plans for more hotels in North America, Europe and the Middle East. At Life Time, a gym that calls itself a “country club” version of a health club, members can drop off their child before a workout for a fee and, at certain locations, can get a private office or a dedicated Herman Miller desk at its co-working space, called Life Time Work. A Life Time Work membership includes gym access and will cost you a couple of hundred dollars to thousands per month, depending on what kind of workspace you want and the location.
Hidden Stashes: Keeping Money Secrets From a Loved One 2024-06-23 07:00:17+00:00 - Ric Shahin wanted to surprise his wife with a special trip for their 10th wedding anniversary, so he set up a secret bank account and began depositing $50 from his paycheck every two weeks. But he soon realized that although he had two and a half years to save for the trip, he wouldn’t have enough, so he increased the deposit to $150. “This went on for a while before my wife noticed that there seemed to be money from my paycheck unaccounted for,” Mr. Shahin said. That was 25 years ago, and the couple were working as teachers in the same Midland, Mich., school district. So his wife, Martha Shahin, knew how much he was paid and how much was deducted. “I was wondering if they hadn’t calculated his paycheck correctly,” Ms. Shahin said. She began asking to see his pay stub, but Mr. Shahin always had an excuse — he didn’t know where it was, he must have left it at work. Mr. Shahin, now 66, finally confessed that he was depositing money into a secret travel fund. He expected his wife to be pleased with his romantic gesture. Instead, she was irritated.
Aerial drone likely launched by Yemen’s Houthi rebels hits ship in the Red Sea 2024-06-23 05:53:42+00:00 - DUBAI, United Arab Emirates (AP) — An aerial drone likely launched by Yemen’s Houthi rebels struck and damaged a vessel in the Red Sea on Sunday, officials said, the latest attack by the group targeting the vital maritime corridor. The attack comes as the U.S. has sent the USS Dwight D. Eisenhower back home after an eight-month deployment that saw it lead the American response to the Houthi assaults. Those attacks have seen shipping drastically drop through the route crucial to Asian, Middle East and European markets in a campaign the Houthis say will continue as long as the Israel-Hamas war in the Gaza Strip rages on. The drone attack happened around dawn off the coast of the rebel-held port city of Hodeida, the British military’s United Kingdom Maritime Trade Operations center said. It said the vessel sustained damage but its mariners on board “were reported safe.” It did not elaborate on the extent of the damage, but said an investigation was ongoing. The private security firm Ambrey identified the ship involved as a Liberia-flagged container ship bound for Qingdao, China. The Houthis did not immediately claim the attack. However, it can take the rebels hours or even days to acknowledge their assaults. The Houthis have launched more than 60 attacks targeting specific vessels and fired off other missiles and drones in their campaign that has killed a total of four sailors. They have seized one vessel and sunk two since November. A U.S.-led airstrike campaign has targeted the Houthis since January, with a series of strikes May 30 killing at least 16 people and wounding 42 others, the rebels say. The Houthis have maintained that their attacks target ships linked to Israel, the United States or Britain. However, many of the ships attacked have little or no connection to the Israel-Hamas war — including those bound for the Houthis’ main benefactor, Iran. The Eisenhower, based in Norfolk, Virginia, is returning home after an over eight-month deployment in combat that the Navy says is its most intense since World War II. The San Diego-based USS Theodore Roosevelt will take the Eisenhower’s place after a scheduled exercise in the Indo-Pacific, said Pentagon press secretary Maj. Gen. Pat Ryder. The Roosevelt anchored Saturday in Busan, South Korea, amid Seoul’s ongoing tensions with North Korea.
Coup-hit Niger was betting on a China-backed oil pipeline as a lifeline. Then the troubles began 2024-06-23 05:02:41+00:00 - ABUJA, Nigeria (AP) — A China-backed pipeline that would make Niger an oil-exporting country is being threatened by an internal security crisis and a diplomatic dispute with neighoring Benin, both as a result of last year’s coup that toppled the West African nation’s democratic government. The 1,930-kilometer (1,200-mile) pipeline runs from Niger’s Chinese-built Agadem oil field to the port of Cotonou in Benin. It was designed to help the oil-rich but landlocked Niger achieve an almost fivefold increase in oil production through a $400 million deal signed in April with China’s state-run national petroleum company. But it has been stalled by several challenges, including the diplomatic disagreement with Benin that led to the pipeline’s closure last week. There also has been an attack this week by the local Patriotic Liberation Front rebel group, which claimed to have disabled a part of the pipeline and is threatening more attacks if the $400 million deal with China isn’t canceled. The group, led by Salah Mahmoud, a former rebel leader, took up arms after Niger’s junta came to power, posing further security threats to the country, which is already struggling with a deadly security crisis. Analysts say the crises could further hurt Niger, one of the world’s poorest countries which funds most of its budget with now-withheld external support in the aftermath of the coup. Niger currently has a local refining capacity of only 20,000 barrels per day (bpd) for local demands while the pipeline is to export up to 90,000 barrels daily — a feat officials and analysts have said would help the country shore up its revenue and emerge from the coup sanctions that had isolated it from regional neighbors and hurt its economy and people. “It is a completely messy situation and the only way for a resolution is if both administrations directly engage and resolve issues,” said Ryan Cummings, director of Africa-focused security consulting company Signal Risk. One major concern is how the stalled pipeline operation might impact Niger’s overall economic growth. The World Bank had projected that the West African nation’s economy would rebound and grow the fastest in Africa this year at a rate of 6.9%, with oil exports as a key boost. The diplomatic tensions with Benin date back to July when Niger’s president, Mohamed Bazoum, was deposed in a coup, resulting in West African neighbors closing their borders with Niger, and in the formation of the so-called local liberation group now threatening more attacks on the oil project. Benin, alongside other neighbors, has reopened its border with Niger, but Nigerien officials have refused to open theirs, accusing Benin of hosting French troops that pose a threat to the country after Niger severed military ties with France. That has led Benin’s president, Patrice Talon, to make the oil exportation through its port conditional on the reopening of the border. Both countries are losing out economically, with Benin also being deprived of millions of dollars in transit fees. Observers say the impasse is worsening regional tensions since the coup, which came after a string of other military takeovers. It has pitched Niger against the Economic Community of West African States, or ECOWAS, which usually mediates on such issues. With Niger tilting towards Russia in its diplomatic shift and Benin aligned with France and the West African bloc, China has tried to step in and resolve the impasse and benefit from its investment in the project. But even Beijing’s efforts, which resulted in the first lifting of oil from the Agadem field in May, collapsed as the diplomatic spat escalated further. Benin this week convicted and imprisoned three of five Nigerien oil workers it recently arrested at the Beninise port after they crossed from the border and were accused of “use of falsified computer data.” Their arrests prompted Niger to shut the pipeline last week, with a senior government official alleging that their oil is being “stolen by other people.” A big concern for Niger’s military government at this stage is “whether they have the requisite fiscal capacity to keep paying for public services” following the coup, which has made it unable to meet some of its financial obligations such as debt repayment and infrastructural funding, Cummings said. The junta in Niger “definitely have to be more cautious in handling the financial position of the country” amid the ongoing crises, he said. ___ Virgile Ahissou contributed to this report from Cotonou, Benin.
A Mexico City neighborhood keeps the iconic Volkswagen Beetle alive 2024-06-23 04:03:35+00:00 - MEXICO CITY (AP) — Janette Navarro’s 1996 Volkswagen Beetle roars as it barrels up a steep hill overlooking concrete houses stacked like boxes on the outskirts of Mexico City. She presses her foot on the pedal, passes a lime green Beetle like hers, then one marked with red and yellow, then another painted a bright sea blue. “No other car gets up here,” she said. “Just the vocho.” The Volkswagen Beetle, or “vocho” as it’s known in Mexico, may have been born in Germany, but in this hilly neighborhood on the fringes of Mexico City, there’s no doubt about it: The “Bug” is king. The Beetle has a long history in the country’s sprawling capital. The old-school models like these — once driven as taxis — used to dot city blocks as the quirky look captured the fascination of many around the world. It was long known as “the people’s car.” But after production of older models halted in Mexico in 2003, and the newer versions in 2019, the Bug population is dwindling in the metro area of 23 million people. But in the northern neighborhood of Cuautepec, classic Beetles still line the streets — so much so that the area has been nicknamed “Vocholandia.” Taxi drivers like Navarro say they continue to use the vochos because the cars are inexpensive and the engine located in the back of the vehicle gives it more power to climb the neighborhood’s steep hills. Navarro began driving Beetles for work eight years ago as a way to feed her three children and put them through school. “When they ask me what I do for work, I say proudly that I’m a vochera (a vocho driver),” Navarro said a day before the International Day of the VW Beetle on Saturday. “This work keeps me afloat … It’s my adoration, my love.” While some of the older cars wobble along, paint long faded after years of wear and tear, other drivers dress their cars up, keeping them in top shape. One driver has named his bright blue car “Gualupita” after his wife, Guadalupe, and adorns the bottom with aluminum flames blasting out from a VW logo. Another painted their VW pink and white, sticking pink cat eyes on the front headlights. Taxi rank manager Rafael Ortega helps passengers into a Volkswagen Beetle in the Cuautepec neighborhood of Mexico City, Friday, June 21, 2024. (AP Photo/Aurea Del Rosario) The bright blue Volkswagen Beetle owned by taxi driver Claudio Garcia that he named "Gualupita" after his wife, sits parked in the Cuautepec neighborhood of Mexico City, Friday, June 21, 2024. (AP Photo/Aurea Del Rosario) The bright blue Volkswagen Beetle owned by taxi driver Claudio Garcia that he named "Gualupita" after his wife, sports a custom side-view mirror, in the Cuautepec neighborhood of Mexico City, Friday, June 21, 2024. (AP Photo/Aurea Del Rosario) Mechanics in the area, though, say driving vochos is a dying tradition. David Enojosa, a car mechanic, said his family’s small car shop in the city used to sell parts and do maintenance primarily on Beetles. But since Volkswagen halted production five years ago, parts have been harder to come by. “With the current trend, it will disappear in two or three years,” Enojosa said, his hands blackened by car grease. “Before we had too many parts for vochos, now there aren’t enough … So they have to look for parts in repair shops or junkyards.” As he spoke, a customer walked up carrying a worn down bolt, looking for a replacement for his Volkswagen’s clutch. The customer, Jesús Becerra, was in luck: Enojosa strolled out of his shop holding a shiny new bolt. Less lucky drivers have to do laps around the neighborhood looking for certain parts. Even more cars fall into disrepair and don’t pass emissions inspections. But Becerra is among those who believed that the vochos will endure in his neighborhood. “You adapt them, you find a way to make it keep running,” he said. “You say, ‘We’re going to do this, fix it and let’s go.’” Taxi driver Claudio Garcia sits inside his Volkswagen Beetle he has named “Gualupita” after his wife, in the Cuautepec neighborhood of Mexico City, Friday, June 21, 2024. (AP Photo/Aurea Del Rosario) Others like Joaquín Peréz say continuing to drive his 1991 white, Herbie-style Beetle is a way to carry on his family tradition. He grew up around Bugs, he explained as his car rumbled. His father was a taxi driver just like him and he learned how to drive in a VW. Now, 18 years into working as a driver himself, his dashboard is lined with trinkets from his family. A plastic duck from his son, a frog stuffed animal from his daughter and a fabric rose from his wife. “This area, always, always since I can remember has been a place of vochos,” he said. “This here is the car of the people.”
What the Arrival of A.I. Phones and Computers Means for Our Data 2024-06-23 04:01:25+00:00 - Apple, Microsoft and Google are heralding a new era of what they describe as artificially intelligent smartphones and computers. The devices, they say, will automate tasks like editing photos and wishing a friend a happy birthday. But to make that work, these companies need something from you: more data. In this new paradigm, your Windows computer will take a screenshot of everything you do every few seconds. An iPhone will stitch together information across many apps you use. And an Android phone can listen to a call in real time to alert you to a scam. Is this information you are willing to share? This change has significant implications for our privacy. To provide the new bespoke services, the companies and their devices need more persistent, intimate access to our data than before. In the past, the way we used apps and pulled up files and photos on phones and computers was relatively siloed. A.I. needs an overview to connect the dots between what we do across apps, websites and communications, security experts say. “Do I feel safe giving this information to this company?” Cliff Steinhauer, a director at the National Cybersecurity Alliance, a nonprofit focusing on cybersecurity, said about the companies’ A.I. strategies.
Bitter political fight in Bolivia is paralyzing the government as unrest boils over economic crisis 2024-06-23 04:01:11+00:00 - LA PAZ, Bolivia (AP) — Protesters streamed into Bolivia’s capital, throats hoarse from chanting and feet blistered from a week of walking along the national highway. The throngs of street vendors in the South American country’s vast informal work force ended their nearly 100-kilometer (60-mile) march from Bolivia’s mountain-rimmed plains with a call that summoned years of growing anger over the nation’s dangerously depleting foreign-exchange reserves: “We want dollars!” With prices surging, dollars scarce and lines snaking away from fuel-strapped gas stations, protests in Bolivia have intensified over the economy’s precipitous decline from one of the continent’s fastest-growing two decades ago to one of its most crisis-stricken today. “We can change the country because we are the engine of production,” Roberto Ríos Ibáñez, secretary-general of Bolivia’s Confederation of Merchants, said as weary protesters broke for lunch around him in the capital’s traffic-snarled center. “The government doesn’t listen. That’s why we’re in the streets.” FILE - Merchants shout slogans during an anti-government march against the banks’ lack of U.S. dollars, in La Paz, Bolivia, June 17, 2024. (AP Photo/Juan Karita, File) Bolivia’s financial quagmire stems, at least in part, from an unprecedented rift at the highest levels of the governing party. President Luis Arce and his one-time ally, leftist icon and former President Evo Morales, are battling for the future of Bolivia’s splintering Movement for Socialism, known by its Spanish acronym MAS, ahead of elections in 2025. The political fight has paralyzed the government’s efforts to deal with the deepening economic despair and analysts warn that the social unrest could explode in the historically turbulent nation of 12 million people. Cracks in the governing party opened in 2019, when Morales, then Bolivia’s first Indigenous president, ran for an unconstitutional third term. He won a contested vote plagued by allegations of fraud, setting off mass protests that caused 36 deaths and prompted Morales to resign and flee the country. After an interim government took control in what MAS called a coup, Morales’ chosen successor, Arce, won election on a campaign promise to restore prosperity to Bolivia, once Latin America’s mainstay source of natural gas. FILE - A stencil graffiti of former President Evo Morales adorns a peeling wall in La Paz, Bolivia, June 14, 2024. (AP Photo/Juan Karita, File) FILE - Supporters of Bolivian President Luis Arce hold signs that read in Spanish, "Lucho you are not alone" during a pro-government march, in La Paz, Bolivia, June 17, 2024. (AP Photo/Juan Karita, File) Arce had been Morales’ finance minister who oversaw years of strong growth and low inflation, but assuming the presidency in 2020, he encountered a bleak economic reckoning from the coronavirus pandemic. Diminished gas production sealed the end of Bolivia’s budget-busting economic model. Still hugely popular among Bolivia’s Indigenous communities, coca growers and union workers, Morales saw an opportunity. After returning from exile, the charismatic populist announced plans last year to run in the 2025 vote — setting himself on a collision course with Arce, who is expected to seek re-election. “Bolivia has an Indigenous majority and people will instinctively support someone like Morales based on what he represents,” said Diego von Vacano, an expert in Bolivian politics at Texas A&M University and former informal adviser to Arce. “Now they have the push factor, the lack of success of the Arce administration.” Earlier this month, Morales drew tens of thousands of loyalists to Cochabamba southeast of La Paz, galvanizing his rural stronghold. “We’re going to win the elections and we’re going to save Bolivia,” a triumphant Morales bellowed in a stadium filled with cheering supporters waving wiphalas, the checkerboards of bright colors to represent Bolivia’s many peoples. FILE - Supporters of Bolivia’s President Luis Arce wave Wiphala flags during an event marking the 29th anniversary of the ruling party, Movement Toward Socialism, MAS, in La Paz, Bolivia, March 28, 2024. (AP Photo/Juan Karita, File) Arce disputes the legitimacy of Morales’ campaign, arguing a 2023 constitutional court ruling bars him from running. Legal experts say it’s not so clear-cut. “We’ve seen both the politicians manipulate the courts to decide political issues that have major bearing on the constitution,” said Eduardo Rodríguez Veltzé, a Bolivian judge who served as president in 2005-2006. Morales, who proclaimed in his speech that “we have complied with the rules,” has threatened to unleash mass unrest if he is disqualified from running. Meanwhile, with the cash crunch denying access to dollars to pay suppliers abroad, Bolivian merchants have produced extraordinary scenes on the border with Brazil and Peru by clamoring to buy the U.S. currency at inflated prices in the neighboring countries. When exchange shops in La Paz ran dry last year, Bolivians waited in line all night outside the Central Bank to get hard currency. It’s a striking contrast to Bolivia’s boom at the turn of the 21st century. Buoyed by a windfall of export revenue, Morales’ government pulled the poverty rate down to 15%, expanded the middle class and built up sprawling cities and roads. Trouble began in 2014 when commodity prices plunged and the government dipped into its currency reserves to sustain spending. Then it drew on its gold reserves and even sold its dollar bonds locally. “We ate up the savings and now we are scraping the pot,” said Gonzalo Chávez, economics professor at Bolivia’s Catholic University. FILE - Pedestrians walk by a currency exchange shop in La Paz, Bolivia, June 12, 2024. (AP Photo/Juan Karita, File) With the government forking out $2 billion a year to import heavily subsidized gasoline in an effort to quell public discontent, the squeeze has tightened. The Fitch rating agency in February downgraded Bolivia’s debt deeper into junk territory, assigning it a CCC rating. And the fight over MAS is exacerbating economic woes. Morales’ allies in Bolivia’s Congress have consistently thwarted Arce’s attempts to take on debt that would relieve the pressure. Bolivia sits on a treasure trove of lithium, but lawmakers won’t give Arce approval to let foreign companies extract it. Arce calls the gridlock an “economic boycott” aimed at subverting his presidency. Seeking to ease investor fears, Finance Minister Marcelo Montenegro denies there is any crisis. But the long lines of frustrated motorists outside gas stations suggest otherwise. In recent days, angry truckers have blocked roads and burned tires. “Arce has dismantled our social organizations while abandoning his management of the economy,” said Jorge Cucho, an Indigenous leader and activist. “Prices have increased by 70%. Our salaries are no longer enough to go to the market.” The tensions tearing at MAS offer Bolivia’s opposition its first real shot at power since Morales won an unprecedented electoral majority in 2005. Centrist and conservative politicians have jumped into the field. But the opposition is fractured and its legitimacy is in question, with dozens of its politicians behind bars. FILE - Sen. Simona Quispe, center, of the ruling party Movement for Socialism or MAS, attends a meeting of lawmakers with former President Evo Morales, in La Paz, Bolivia, March 5, 2024. (AP Photo/Juan Karita, File) “The opposition has far more opportunities now due to the division,” said Fernando Mayorga, a sociologist at Bolivia’s public university in Cochabamba. “So far, we’ve seen no signs that it can act on them.” Bolivians who are incensed by Morales but disappointed by Arce say the country stands at a perilous crossroads. “The people are asleep,” said Ibáñez, the union leader. “Soon they’ll begin to rise up.” ___ DeBre reported from Buenos Aires, Argentina.
$2.9B European Cannabis Market: A Strategic Blueprint For Cross-Border Transportation Logistics 2024-06-22 19:21:00+00:00 - Loading... Loading... Tapping Expert Insights On EU Cannabis Logistics The European cannabis market, valued at approximately $2.17 billion in 2023, is projected to grow at a CAGR of 19.3%, reaching around $11.09 billion by 2032, fueled by widespread legalization and the recognized therapeutic benefits of medical cannabis. Germany, the UK, Italy, and the Netherlands are key contributors to this growth. As companies increasingly look to navigate cannabis regulations and tap into key international markets, understanding the nuances of safe and legal transportation across borders is paramount. How do cannabis businesses optimize their EU logistics strategies to ensure compliance and efficiency? In an exclusive interview with Benzinga Cannabis, Philip Nothdurft Castro, a senior expert in pharmaceutical and medical cannabis logistics, shed light on the evolving challenges and opportunities within the European Union's cannabis market. The European Cannabis Market: Heavy Regulated Environments The European Union features a diverse regulatory landscape for cannabis, with each member state enforcing its unique legal standards. "Managing cannabis logistics across countries like Germany, the UK, and Spain requires strict adherence to their heavily regulated environments,” Castro said. “Every jurisdiction has precise standards that need careful compliance to preserve product integrity." This complex framework includes regulations on product safety and transportation security, demanding a thorough knowledge of both local and international laws. Castro provided a detailed perspective on the dynamics of the European cannabis market, drawing on his extensive experience within the region. He noted that Spain and Portugal, in particular, are not just major destinations but also key exporters within Europe, optimizing their climatic advantages for cannabis cultivation. "We're observing significant movements in dried flowers, extracts, and living plants such as cuttings. These categories represent the bulk of cannabis logistics within the EU," Castro said. Discussing market trends and logistical challenges, Castro elaborated on the volume of trade and the intricacies of intra-European transport. "While the legal frameworks are harmonizing, the operational aspects like route planning and load management remain complex, influenced by local regulations." He pointed out the growing sophistication in the logistics sector, aimed at addressing the specific needs of cannabis transportation, such as maintaining product quality and ensuring timely deliveries. These investing issues will be a hot topic at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the industry. Hear directly from top executives, investors, advocates, and policymakers. Get your tickets now before prices go up by following this link. The Core Of Cannabis Logistics: A Step-By-Step Guide 1. Selecting The Right Transportation Mode: Advantages Of Land Transport Castro emphasized the importance of choosing the appropriate mode of transportation based on the destination. "While air freight is preferred for long distances, such as shipments from North America, the final mile within Europe is often completed by land transport to maintain control and ensure compliance with EU regulations." Land transport offers the added advantage of continuous cargo oversight. "A truck driver acts as a constant guardian of the load, unlike air transport, where the cargo may not be monitored during transit and can face delays due to customs or regulatory issues. This hands-on approach significantly reduces the risk of tampering and ensures timely delivery." 2. Understanding Local Compliance Requirements Each country in the EU has its own set of regulations and compliance requirements for the transportation of cannabis. "For example, Germany's stringent rules for cannabis transport require specific security and traceability measures, which differ significantly from those in Spain or Portugal," Castro pointed out. Familiarity with local regulations is crucial for ensuring that every segment of the journey complies with the legal standards of the country of origin, transit, and destination. 3. Partnering With Reliable Logistics Providers One of the keys to successful cannabis transportation in Europe is the selection of knowledgeable and reliable logistics partners. "These partners not only understand the legal landscape but also have established processes that enhance safety and efficiency," says Castro. He recommends working with partners who specialize in pharmaceutical logistics, as they are more likely to have the necessary infrastructure and expertise to handle sensitive products like cannabis. 4. Implementing Security And Traceability Measures Security is paramount in the transportation of cannabis, given its value and regulatory oversight. "Utilize advanced security measures such as GPS tracking, secure loading techniques, and dual authentication systems for access to transport vehicles." Additionally, maintaining traceability throughout the transportation process helps ensure that all regulatory requirements are met and that the product's integrity is maintained. 5. Preparing For Last-Mile Delivery The last-mile delivery is critical, especially in the dense urban centers of Europe. "This stage must be meticulously planned to avoid delays and ensure that the product reaches the customer in optimal condition," Castro stressed. He suggests integrating real-time tracking systems that provide updates to customers and businesses, enhancing transparency and trust. Navigating International Procedures And Bottlenecks Castro discussed the common bottlenecks in cannabis logistics, such as customs delays and inconsistent regulatory interpretations across borders. "Preparation and pre-clearance are essential strategies. Ensure all documentation is meticulously prepared and that you have contingency plans for delays," he advised. Understanding international procedures and building a relationship with local institutions is thus key to keeping up with the process. Starting Your EU Cannabis Logistics Operations For businesses new to the European cannabis market, Castro recommends a cautious approach. "Begin with a small, manageable supply chain to understand the nuances of each market. As you gain familiarity, gradually scale your operations." He also emphasized the importance of continuous education and staying informed about regulatory changes, which can be frequent and impactful in the cannabis industry. By understanding the regulatory environment, partnering with the right logistics providers and implementing robust security and traceability systems, companies can successfully manage the challenges of cross-border cannabis transportation. As the European cannabis market continues to grow, these strategic approaches will be key to harnessing its full potential. Photo: AI-Generated Image.
Teamsters President Sean O'Brien To Address Republican Convention, Posing Challenge To Biden's Union Support: Report 2024-06-22 19:03:00+00:00 - Loading... Loading... Sean O’Brien, president of the Teamsters union, is reportedly set to address the Republican National Convention in Milwaukee next month, posing a potential challenge to Joe Biden’s blue-collar worker base ahead of the November election. Donald Trump, the presumed Republican nominee, disclosed yesterday via his Truth Social platform that O’Brien had agreed to speak at the convention. Trump expressed anticipation in seeing O'Brien represent the Teamsters. Also Read: Donald Trump’s Gag Order Could Be Maintained As Manhattan DA Cites 56 ‘Actionable’ Threats Post-Trial: Report "Our GREAT convention will unify Americans and demonstrate to the nation's working families they come first," Trump wrote. "When I am back in the White House, the hard-working Teamsters, and all working Americans, will once again have a country they can afford to live in and be respected around the world." A spokesperson from the Teamsters confirmed the news to The Guardian, describing it as “truly unprecedented” because it marks the first occasion a Teamsters general president will address the RNC. The union, which wields significant influence, represents over a million members in industries including trucking, packaging, manufacturing and logistics. Also See: Trump Is Raising Enough Money To Wipe Out Biden’s Once Significant Cash Advantage "Our 1.3 million members represent every political background, and their message needs to be heard by as wide an audience as possible, and that includes all political candidates running for elected office," the spokesperson said. "We appreciate former President Trump's openness to inviting a labor leader to speak on behalf of working families.” The Teamsters endorsed Biden over Trump in 2020, but their current president, Sean O'Brien, hasn’t endorsed any candidate for the upcoming election. O'Brien has invited Biden, Trump and others to speak to the union, drawing criticism from progressives after meeting privately with Trump, the report read. While O'Brien praised Biden’s support for workers, he emphasized the need for further union strengthening. His upcoming speech at the RNC challenges Biden’s strong union support and his claim to be the most pro-union president in U.S. history, The Guardian added. Read Next: Amazon Labor Union Partners With Teamsters To Boost Bargaining Power: Report Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
California Democrats agree to delay health care worker minimum wage increase to help balance budget 2024-06-22 18:32:51+00:00 - SACRAMENTO, Calif. (AP) — Democrats in California have agreed to delay a minimum wage increase for about 426,000 health care workers to help balance the state’s budget. The agreement between Gov. Gavin Newsom and legislative leaders is part of a larger plan to close an estimated $46.8 billion shortfall — the second year in a row the nation’s most populous state has had a multibillion-dollar deficit. Health care workers were supposed to get a raise July 1, part of a plan to gradually increase their pay to $25 per hour over the next decade. Now, if approved by the Legislature next week, they could get that raise Oct. 15 — but only if California’s revenues between July and September are at least 3% higher than what officials have estimated. If that doesn’t happen, the raise won’t start until Jan. 1 at the latest. The delay preserves a hard-fought victory for one of the state’s largest labor unions — and one of Democrats’ largest campaign donors. Dave Regan, president of Service Employees International Union-United Healthcare Workers West, said workers are disappointed they won’t get raises this summer. “But we also recognize and appreciate that legislative leaders and the Governor listened to us as we mobilized and spoke out this year to insist that, despite a historic budget deficit, California’s patient care and healthcare workforce crisis must be addressed,” he said in a statement. The minimum wage for most people in California is $16 per hour, which is already among the highest in the nation. The minimum wage for most fast food workers in the state is $20 per hour, an increase that began in April and has had ripple effects statewide. But increasing wages for health care workers is trickier because of the budget impact budget. California employs some health care workers, and it also pays for medical benefits through the state’s Medicaid program. The Newsom administration had previously said the minimum wage increase would cost the state about $2 billion. But if delayed until January, it will cost the general fund about $600 million — a figure that would rise yearly to reflect scheduled increases until it reaches $25 per hour for most health care workers. California’s revenues, while declining for much of the past two years, have rebounded recently. “We are confident that the initial raise for workers who have not yet received it will happen in the Fall,” Regan said. In total, the budget agreement would approve $297.9 billion in spending over the next fiscal year that begins on July 1. Newsom and legislative leaders agreed to $16 billion in cuts, including $110 million to a program that helps students from middle-class families pay for college and $1.1 billion across various affordable housing programs. But Newsom and lawmakers agreed to abandon some previously proposed cuts, including one that would have stopped paying for people to care for some low-income disabled immigrants who are on Medicaid. Lawmakers agreed to lend $400 million to the utility Pacific Gas & Electric to help extend the life of the state’s only remaining nuclear power plant — money that some lawmakers had opposed because they were worried it might not ever be paid back. And Newsom agreed to increase how much the state’s Medicaid program pays doctors to treat patients — although the amount is far less than he previously agreed to spend. Meanwhile, doctors have qualified a measure for the November ballot that would force the state to pay them more for treating Medicaid patients. In addition to a nearly 8% cut across the board for state agencies, the agreement includes an additional $350 million cut for state prisons. It also includes a temporary tax hike — starting this year and running through 2026 — on businesses with more than $1 million in taxable income. “This agreement sets the state on a path for long-term fiscal stability — addressing the current shortfall and strengthening budget resilience down the road,” Newsom said. Lawmakers are likely to vote on the budget next week. Republicans, who don’t control enough seats to influence legislation, say they were left out of the negotiations. Senate President Pro Tempore Mike McGuire said it has been a “tough budget year” but elected officials were able “to shrink the shortfall, protect our progress, and maintain responsible reserves.” Democratic Assembly Speaker Robert Rivas said the Assembly “fought hard to protect the public services that matter most to Californians.”
Vice President Kamala Harris Courts Corporate Leaders Amidst Tight Biden-Trump Race: Report - American Express (NYSE:AXP) 2024-06-22 18:29:00+00:00 - Loading... Loading... Vice President Kamala Harris is reportedly forging ties with corporate leaders, extending an olive branch to a demographic increasingly leaning towards Republican Donald Trump in the upcoming November election. Harris has maintained frequent meetings with executives such as Visa Inc. V CEO Ryan McInerney, Teneo Chairwoman Ursula Burns, and former American Express Company AXP CEO Ken Chenault, Bloomberg reported, citing several people familiar with the matter. Check This Out: Kamala Harris Pledges $100M To Boost Small Auto Manufacturers In Detroit In March, Harris dined with JP Morgan Chase & Co. JPM CEO Jamie Dimon, known for supporting Trump's policies. This outreach, labeled a “charm offensive” by Wall Street insiders, has involved both private and group conversations over the past two years at the White House and Harris' residence at the Naval Observatory, engaging leaders across the political spectrum, Bloomberg added. Discussions have also included CVS Health Corporation CVS CEO Karen Lynch, Motorola Solutions, Inc. MSI CEO Greg Brown, Chobani Inc CHO founder Hamdi Ulukaya, Emerson Electric Company EMR CEO Lal Karsanbhai and Eaton Corporation, PLC ETN Chairman Craig Arnold. Chenault and Burns, known for their longstanding support of Democrats, have been regular guests in Harris’ meetings, as confirmed by a source familiar with these interactions, Bloomberg added. Also Read: Biden, Trump Should Both Drop Out Of 2024 Election, Leading Pollster Says: ‘Country Would Be Better Served’ Harris, the first Black, Asian, and female vice president, values the perspectives of Chenault and Burns, both prominent figures as Black leaders who have helmed Fortune 500 companies. The efforts coincide with Trump’s intensified appeals to businesses for financial and public support by pledging tax and regulatory cuts. Biden, in a tight race with Trump, faces a perception of being anti-business in parts of Wall Street, prompting efforts to win over corporate leaders. Prominent business figures influence economic perceptions and are vital allies in achieving policy objectives. Biden’s administration secured commitments from chipmakers to establish U.S. plants with substantial subsidies. Harris also collaborated with major firms like Goldman Sachs Group, Inc GS and Alphabet Inc. GOOG GOOGL to direct billions to community lenders in underserved regions. Read Next: Biden Fundamentally ‘More Pro-Business Than Trump,’ LinkedIn Founder Says: ‘Rule Of Law Is What Has Made America Very Special’ Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
Trump Skips Debate Prep, Hits Washington D.C. And Philadelphia On Campaign Trail Ahead Of Biden Face-Off: Report 2024-06-22 18:08:00+00:00 - Loading... Loading... Former President Donald Trump, continuing his trend of avoiding traditional debate preparation, plans to spend his final Saturday before his first direct confrontation with President Joe Biden on the campaign trail. On Saturday afternoon, Trump will speak to Christian conservatives in Washington, DC, followed by a campaign rally in Philadelphia, a crucial battleground, later in the day, reported CNN. Check This Out: Biden Vs. Trump: President Maintains 1 Point Lead, Wins Battle For ‘Double Hater’ Voters Who Dislike Both 2024 Election Candidates The consecutive public appearances highlight a sharp contrast with Biden's preparation for the first of two debates. Biden and his team are at Camp David this weekend, meticulously reviewing briefing materials and conducting mock debates as he prepares intensively for his pivotal encounters with Trump. While Trump has engaged in informal briefing sessions with advisers and allies, he has maintained a busy campaign schedule. Recently, he rallied in Racine, Wisconsin, on Tuesday and attended a fundraiser in Ohio on Thursday. Read Next: Biden In Trouble: Trump Dominates Swing States, Ties In New Battleground State Won By Democrats In 12 Straight Presidential Elections Trump's campaign is emphasizing the contrast between the preparation styles of the two candidates, CNN added. “While Joe Biden's advisors force him to hide away at Camp David for some much-needed rest, President Trump is keeping up with his busy campaign schedule,” Trump spokeswoman Karoline Leavitt said. Trump’s rally in Philadelphia on Saturday evening is his fourth appearance in Pennsylvania this year, intensifying the competition for this crucial battleground. The Trump campaign aims to highlight differences between Biden and his home state, focusing on issues like inflation and crime to criticize the president. “The great people of Pennsylvania are feeling the effects of Biden's failed policies where it hurts the most – their wallets,” the Trump campaign said in a statement announcing the rally. Also See: Trump Vs. Biden Race Is A Cliffhanger, But Pendulum Could Swing In Favor Of One Candidate As Voters In These 3 Battleground States Look To Flip Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
Upcoming Trump-Biden Debates Set To Break Longstanding Tradition 2024-06-22 17:34:00+00:00 - Loading... Loading... Donald Trump and Joe Biden are set to meet on Thursday for the first of two direct debates in the 2024 campaign, governed by new rules to avoid the issues that arose four years ago during debates. The president and the former president will meet in a TV studio without a partisan audience, a departure from Trump's previous strategy that relied on energizing his supporters, reported The Guardian. Check This Out: Trump To Have The Last Word In CNN Debate, Biden Gets To Choose Podium Placement After Coin Flip Win To prevent the frequent interruptions that frustrated Biden, the candidates’ microphones will be muted when they are not speaking. However, these debates are also the first in decades to be hosted exclusively by commercial TV networks, complete with two advertising breaks, The Guardian added. They will not be overseen by the Commission on Presidential Debates (CPD), a longstanding independent and non-partisan body that traditionally governs debate rules. Also Read: The Trump Vs. Biden Debate Could See Bitcoin Approach $100,000: Here’s Why Critics have expressed concerns that commercializing the process could result in less substantive, shorter answers focused more on generating conflict and soundbites rather than informing voters. The intense exchanges between Biden and Trump in 2020, moderated by Fox News’ Chris Wallace, escalated to such a degree that CNN’s Dana Bash famously called the event “a shitshow” live on air, the report added. Earlier this year, both campaigns opted to bypass the CPD, which had managed presidential debates since 1988. On June 27, however, Bash and her CNN co-presenter, Jake Tapper, will attempt to outdo Fox’s efforts as they oversee the first debate in Atlanta. Also See: Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: ‘I Just Wanna Debate This Guy, But …’ The second debate, scheduled for Sept. 10, will be hosted by ABC. Candidates will not be permitted to use props or have prewritten notes on stage. They will be provided with a pen, a notepad and a bottle of water. In the 2004 election debates between George W. Bush and John Kerry, overseen by the CPD, there were only three interruptions across three debates. Contrastingly, the first 2020 debate between Trump and Biden saw 76 interruptions, a stark increase noted by the group. However, in the second debate, following criticism of the earlier chaos, there were just four interruptions as microphones of non-speakers were muted, The Guardian added. Read Next: Tesla Analysts Temper Expectations, Fisker Shuts Down Shop, Nikola’s 30-for-1 Reverse Split And More: Biggest EV Stories Of The Week Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
China and European Union Agree to Talks in Bid to Head Off Trade War 2024-06-22 14:16:57+00:00 - With billions of dollars in trade at stake, China and the European Union have agreed to engage in talks to try to resolve an escalating dispute over tariffs. China’s commerce minister, Wang Wentao, and Valdis Dombrovskis, the European Union trade commissioner, will hold discussions on the European Union’s plan for tariffs on electric cars from China, the Chinese commerce ministry said late Saturday. Hours earlier, Robert Habeck, Germany’s vice chancellor and economic minister, said that the European Union was willing to hold consultations, and he expressed a hope that tariffs could be avoided. This month, the European Commission, the executive body of the European Union, proposed tariffs of up to 38 percent on electric cars from China, atop an existing 10 percent tariff on imported cars. The commission said it found that China’s electric car sector was heavily subsidized by the government and state-controlled banking system. China’s exports of electric vehicles pose a growing challenge to Europe’s automakers.