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By MICHELLE L. PRICE and ROB GILLIES NEW YORK (AP) — President-elect Donald Trump’s recent dinner with Canadian Prime Minister Justin Trudeau and his visit to Paris for the reopening of the Notre Dame Cathedral were not just exercises in policy and diplomacy. They were also prime trolling opportunities for Trump. Related Articles National Politics | Biden issues veto threat on bill expanding federal judiciary as partisan split emerges National Politics | Trump lawyers and aide hit with 10 additional felony charges in Wisconsin over 2020 fake electors National Politics | After withdrawing as attorney general nominee, Matt Gaetz lands a talk show on OANN television National Politics | What will happen to Social Security under Trump’s tax plan? National Politics | Republican-led states are rolling out plans that could aid Trump’s mass deportation effort Throughout his first term in the White House and during his campaign to return, Trump has spun out countless provocative, antagonizing and mocking statements. There were his belittling nicknames for political opponents, his impressions of other political figures and the plentiful memes he shared on social media. Now that’s he’s preparing to return to the Oval Office, Trump is back at it, and his trolling is attracting more attention — and eyerolls. On Sunday, Trump turned a photo of himself seated near a smiling first lady Jill Biden at the Notre Dame ceremony into a social media promo for his new perfume and cologne line, with the tag line, “A fragrance your enemies can’t resist!” The first lady’s office declined to comment. When Trudeau hastily flew to Florida to meet with Trump last month over the president-elect’s threat to impose a 25% tax on all Canadian products entering the U.S., the Republican tossed out the idea that Canada become the 51st U.S. state. The Canadians passed off the comment as a joke, but Trump has continued to play up the dig, including in a post Tuesday morning on his social media network referring to the prime minister as “Governor Justin Trudeau of the Great State of Canada.” After decades as an entertainer and tabloid fixture, Trump has a flair for the provocative that is aimed at attracting attention and, in his most recent incarnation as a politician, mobilizing fans. He has long relished poking at his opponents, both to demean and minimize them and to delight supporters who share his irreverent comments and posts widely online and cheer for them in person. Trump, to the joy of his fans, first publicly needled Canada on his social media network a week ago when he posted an AI-generated image that showed him standing on a mountain with a Canadian flag next to him and the caption “Oh Canada!” After his latest post, Canadian Immigration Minister Marc Miller said Tuesday: “It sounds like we’re living in a episode of South Park.” Trudeau said earlier this week that when it comes to Trump, “his approach will often be to challenge people, to destabilize a negotiating partner, to offer uncertainty and even sometimes a bit of chaos into the well established hallways of democracies and institutions and one of the most important things for us to do is not to freak out, not to panic.” Even Thanksgiving dinner isn’t a trolling-free zone for Trump’s adversaries. On Thanksgiving Day, Trump posted a movie clip from “National Lampoon’s Christmas Vacation” with President Joe Biden and other Democrats’ faces superimposed on the characters in a spoof of the turkey-carving scene. The video shows Trump appearing to explode out of the turkey in a swirl of purple sparks, with the former president stiffly dancing to one of his favorite songs, Village People’s “Y.M.C.A.” In his most recent presidential campaign, Trump mocked Florida Gov. Ron DeSantis, refusing to call his GOP primary opponent by his real name and instead dubbing him “Ron DeSanctimonious.” He added, for good measure, in a post on his Truth Social network: “I will never call Ron DeSanctimonious ‘Meatball’ Ron, as the Fake News is insisting I will.” As he campaigned against Biden, Trump taunted him in online posts and with comments and impressions at his rallies, deriding the president over his intellect, his walk, his golf game and even his beach body. After Vice President Kamala Harris took over Biden’s spot as the Democratic nominee, Trump repeatedly suggested she never worked at McDonalds while in college. Trump, true to form, turned his mocking into a spectacle by appearing at a Pennsylvania McDonalds in October, when he manned the fries station and held an impromptu news conference from the restaurant drive-thru. Trump’s team thinks people should get a sense of humor. “President Trump is a master at messaging and he’s always relatable to the average person, whereas many media members take themselves too seriously and have no concept of anything else other than suffering from Trump Derangement Syndrome,” said Steven Cheung, Trump’s communications director. “President Trump will Make America Great Again and we are getting back to a sense of optimism after a tumultuous four years.” Though both the Biden and Harris campaigns created and shared memes and launched other stunts to respond to Trump’s taunts, so far America’s neighbors to the north are not taking the bait. “I don’t think we should necessarily look on Truth Social for public policy,” Miller said. Gerald Butts, a former top adviser to Trudeau and a close friend, said Trump brought up the 51st state line to Trudeau repeatedly during Trump’s first term in office. “Oh God,” Butts said Tuesday, “At least a half dozen times.” “This is who he is and what he does. He’s trying to destabilize everybody and make people anxious,” Butts said. “He’s trying to get people on the defensive and anxious and therefore willing to do things they wouldn’t otherwise entertain if they had their wits about them. I don’t know why anybody is surprised by it.” Gillies reported from Toronto. Associated Press writer Darlene Superville contributed to this report.
FACT CHECK: Video Claims To Show New Syrian Government Fighting
The retail market in Cork has shown significant improvement since the challenges of 2020. During the height of the pandemic, vacancy rates in the city centre rose sharply, driven by the effects of COVID-19 and changing market dynamics that shifted negotiating power from landlords to tenants. Today, occupancy on Patrick Street has increased notably, climbing from 69% in 2020 to nearly 75% as we approach 2025. Patrick Street has welcomed an impressive roster of new retailers since 2021, including The North Face, Dune Shoes, Carolls Gifts, Flannels, JD Sports, Mango, Krispy Kreme, and more recently Austen & Blake and Lovisa. Due to open in early 2025 is Seasalt in the former French Connection building and a new US retailer is set to open in the former Dorothy Perkins/Evans unit in the summer of 2025. We also understand a Spanish brand is reportedly taking a significant 40,000 square feet in a former Debenhams store, which will see the occupancy rate go from 75% to almost 95%, which indicates the importance of having this anchor store occupied, in the city’s prime retail street. Opera Lane now has full occupancy first time since Q4 2019, with Victoria’s Secret, Bath & Body Works opening last week and Mountain Warehouse due to open early 2025. Critics may claim that city centre retail is in decline, but the evidence suggests otherwise. The variety and number of new entrants has been highly encouraging, with further inquiries from national and international retailers keen to establish a foothold in the city. However, Cork faces some suitability challenges: many existing buildings don't meet retailer’s requirements. As with any historical city, traditional stores are inherently too small for today's retailers. The shift toward larger retail spaces is driven by the need to provide engaging, experiential environments that attract and retain customers. Brands aim to deliver unique in-store experiences that reflect their identity and values, often requiring more extensive floor space than traditional Cork city centre retail units offer. This evolution in retail strategy highlights the importance of developing adaptable retail spaces in Cork that can meet the changing needs of both brands and consumers, ensuring the city remains competitive in attracting leading international retailers. The city’s most prominent vacancy—the former Debenhams site—remains the key question. While there are indications that it is under offer, all of Cork is watching closely, hoping for decisive action in 2025. The successful redevelopment of such a key site could serve as a catalyst for further growth. The redevelopment of the Penneys store on Patrick Street will also provide a much-needed boost to the area, particularly to the adjacent Cook Street, which has experienced stagnation due to delays in the planning process. The retail market in Cork has evolved into a tenant-friendly environment, with flexibility playing a key role in lease negotiations. Typical leases now range from five to ten years, often with break clauses at years three and six. Turnover-based rent structures are also gaining traction, allowing retailers to mitigate risk. These arrangements provide a base rent with a performance-based top-up, ensuring landlords benefit when retailers thrive while offering protection during challenging times. This model is particularly attractive to risk-averse tenants, though established brands with greater market confidence may still prefer traditional fixed rents. Landlords are adapting to this but it not without its challenges for funding and investment sales. To enhance the vibrancy of Cork’s retail landscape, it would be great to see more of an eclectic retail mix to include boutiques, vintage stores, and alternative outlets would be welcome additions. Although this is challenging for small businesses as they face significant set up costs such as shopfitting costs, rates, utilities, and staffing challenges. The reality is that some of the vacant stock is not suitable to be let without significant investment. This ultimately lies with the landlord, but it would be good to see further collaboration with the City Council with some renovation grant or painting grant or a reduction in commercial rates. Despite these challenges, Cork’s retail market remains a source of optimism. While issues like antisocial behaviour have disappointed many, it’s essential to remember that we, as stakeholders in our city, have the power to shape its future. Substantial efforts have been made to improve the city’s retail offerings — a process that requires patience to yield results. With positive momentum now underway, it is crucial to maintain and build upon this progress. The retail market, much like fashion, operates in cycles, and Cork is clearly emerging from a low point and entering a period of growth. Our city offers a vibrant and diverse retail experience tailored to a wide range of preferences. Shopping here is more than just a transaction — it’s an opportunity to turn everyday tasks into enjoyable social outings, thanks to the combination of unique stores and exceptional dining options. A key advantage of in-store shopping is instant gratification: customers can see, touch, and immediately take home their purchases, a distinct benefit over online alternatives. The ability to try and test products in person — especially for clothing, beauty items, and high-value goods — not only adds value but also builds confidence in purchasing decisions. Sustainability is another draw, with reduced packaging and the chance to support local businesses appealing to eco-conscious consumers. This focus aligns with a growing desire for responsible shopping practices, making the city a compelling choice for shoppers. By blending experiential, practical, and sustainable elements, our city continues to attract a dynamic and expanding demographic. Cork’s long-term prospects are encouraging. As Europe’s fastest-growing city over the next two decades, its population in the metropolitan area is expected to nearly triple, reaching close to one million by 2050. This growth is likely to increase retail demand, offering opportunities for investors to tap into a thriving market. One of the key pieces of the puzzle for our city’s success, which I have not addressed in this article, is the challenges facing the food and beverage industry. This topic merits a dedicated discussion, which will be explored in detail with Irish Examiner readers, in early 2025. Lia Dennehy is an Associate, Commercial Agency, Savills, CorkCsb bancorp CEO Eddie Steiner acquires $58,375 in common stockDETROIT (AP) — General Motors said Tuesday it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit. Instead the Detroit automaker will focus on development of partially automated driver-assist systems for personal vehicles like its Super Cruise, which allows drivers to take their hands off the steering wheel. GM said it would get out of robotaxis “given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market.” The company said it will combine Cruise's technical team with its own to work on advanced systems to assist drivers. GM bought control of San Francisco-based Cruise automation in 2016 with high hopes of developing a profitable fleet of robotaxis. Over the years GM invested billions in the subsidiary and eventually bought 90% of the company from investors, all while racking up millions in losses. GM’s brushoff of Cruise represents a dramatic about-face from years of full-blown support that left a huge financial dent in the automaker. The company invested $2.4 billion in Cruise only to sustain years of uninterrupted losses, with little in return. Since GM bought a controlling stake in Cruise for $581 million in 2016, the robotaxi service piled up more than $10 billion in operating losses while bringing in less than $500 million in revenue, according to GM shareholder reports filed with the Securities and Exchange Commission. The automaker even announced plans for Cruise to generate $1 billion in annual revenue by 2025, but it scaled back spending on the company after one of its autonomous Chevrolet Bolts dragged a San Francisco pedestrian who was hit by another vehicle in 2023. The California Public Utilities Commission alleged Cruise then covered up details of the crash for more than two weeks. The embarrassing incident resulted in Cruise’s license to operate its driverless fleet in California being suspended by regulators and triggered a purge of its leadership — in addition to layoffs that jettisoned about a quarter of its workforce . GM CEO Mary Barra told analysts on a conference call Tuesday the the new unit will focus on personal vehicles and developing systems that can drive by themselves in certain circumstances. The company has agreements to buy another 7% of Cruise and intends to buy the remaining shares so it owns the whole company. The move is another step back from autonomous vehicles, which have proved far harder to develop than companies once anticipated. Two years ago, crosstown rival Ford Motor Co. disbanded its Argo AI autonomous vehicle venture in Pittsburgh that it co-owned with Volkswagen. At the time the company said it didn’t see a path to profitability for a number of years. Yet other companies are pressing forward with plans to deploy autonomous vehicles and expanding their services. Alphabet Inc.'s Waymo is accelerating plans to broaden its robotaxi service beyond areas of metropolitan Phoenix, San Francisco and Los Angeles. Last week the company said it would begin testing its driverless Jaguars in Miami next year, with plans to start charging for rides in 2026. The move comes less than a month after Waymo opened up its robotaxi service to anyone looking for a ride in an 80-square-mile (129 square kilometer) area of Los Angeles. Waymo also has plans to launch fleets in Atlanta and Austin next year in partership with ride-hailing leader Uber. In April, a company called Aurora Innovation plans to start hauling freight on Texas freeways using fully driverless semis. Tesla CEO Elon Musk has said his company plans to have autonomous Models Y and 3 running without human drivers next year. Robotaxis without steering wheels using Tesla's “Full Self-Driving” system would be available in 2026 starting in California and Texas, he said. But an investigation by the National Highway Traffic Safety Administration into Full Self-Driving's ability to see in low visibility conditions cast doubt on whether Teslas are ready to be deployed without humans behind the wheel. The agency began the investigation in October after getting reports of four crashes involving “Full Self-Driving” when Teslas encountered sun glare, fog and airborne dust. An Arizona pedestrian was killed in one of the crashes. GM said it will work with Cruise’s leadership to restructure the company and refocus Cruise’s operations on driver assist systems. The company expects the restructuring to reduce spending by more than $1 billion annually. Cruise has about 2,300 employees and will retain a presence in San Francisco, GM said. It’s too early to talk about employment levels until the restructuring is completed next year, a spokesman said. Dave Richardson, senior vice president of software and services engineering, said Cruise will bring its software, artificial intelligence and sensor development to GM to team up on improving GM’s driver-assist systems. “We want to leverage what already has been done as we go forward, and we think we can do that very effectively,” Barra said. Shares of GM rose about 3% in trading after Tuesday's closing bell. They are up about 47% for the year. _____ AP Technology Writer Michael Liedtke in San Francisco contributed to this report. Tom Krisher, The Associated Press
GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unitCalifornia Sees Surge in People Moving There, but It's Not All Great NewsAfter attending the Kansas Association of School Boards meeting last month in Wichita, Great Bend USD 428 Superintendent Khris Thexton said he’s ready to look at the potential of solar panels to provide energy savings for some buildings in the district. The KASB convention featured a breakout session on “Energy Solutions.” The speakers were Jeff Hohnbaum, president of Hutton Facility Services & Hutton Energy Services, based in Wichita, and Karl DeArmond with Geary County USD 475 in Junction City. “Junction City has this,” Thexton said. “Hoisington is looking at it as well.” What he is investigating would involve affixing solar panels to the roofs of certain buildings. The most likely candidates are the Panther Activities Center, the new gym at Great Bend Middle School and possibly the new District Education Center/Little Panthers Preschool. “The need for new energy solutions is top-of-mind for our commercial and industrial clients and it’s easy to see why,” stated the agenda for the KASB breakout on this topic. “According to data from the U.S. Bureau of Labor Statistics, the average cost of electricity per kilowatt-hour in the United States has risen 22% since 2020. “Meanwhile, recent legislation has created long-term tax credits and incentives for renewable energy (including solar), all while the cost to manufacture and install solar photovoltaic (PV) systems continues to decline. “Hutton offers full-service turnkey PV solar installation, including systems design, equipment procurement, installation, and operations/maintenance.” The U.S. Department of Energy explains that photovoltaic technology (PV) materials convert sunlight into electrical energy. USD 428 administrators said they would need to see whether panels could save the district money for energy expenses and how they would affect costs such as insurance. Central Kitchen Air Curtains Another energy saving item was approved at Monday's meeting. The district will spend $11,214 to purchase three heated air curtains to install on the south receiving doors at the central kitchen, located in the new Support Services building. It will cost an additional $2,500 to install them. Curriculum and more In other business Monday, the board had a first reading of policy revisions, as well as a first reading of the Cardiac Emergency Response Plan (CERP). These will be on the agenda for board approval in January. Director of Teaching and Learning JoAnn Blevins said the K-12 team for reviewing the science curriculum is finishing the pilot of two programs and the 7-12 English Language Arts team will be ready to pilot programs next fall. The band and orchestra have not had a new curriculum adoption in 20 years, Blevins noted. “They are currently reviewing materials to see what’s out there.”
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NoneEuropean buyout firm Permira is debuting its first deal in the $1 trillion US collateralized loan obligation market, as deals near an issuance record. The investment firm priced the $430.6 million deal on Friday, according to a person with knowledge of the matter. CLOs, the largest buyers of leveraged loans, repackage this debt into securities of varying risk and size. The offering, arranged by JPMorgan Chase & Co., is part of Permira’s effort to grow its footprint in the US through such vehicles, said the person, who asked not to be identified discussing private information. A representative for Permira declined to comment. Funds are issuing CLOs at near record levels, with almost $183 billion worth of deals in the US so far this year, according to data compiled by Bloomberg. That’s partly because risk premiums on CLO debt started tightening last year, kicking off a surge in transactions known as resets, which give managers of the debt more time to freely buy and sell loans. These funds are also catching up from late 2022 and 2023, when a drop in bond sales led to a slowdown in new vehicles. Permira also priced a roughly €400 million European CLO on Friday, the person said, marking its fifth such deal so far this year. It also has a warehouse open for European leveraged loans, according to data compiled by Bloomberg. Founded in 2008, Permira’s credit platform manages about €17 billion of assets. Its CLO strategy is run by its co-head of Permira Credit, Ariadna Stefanuscu. The firm is one of a few trying to push into the US market for CLOs and other structured deals. Hedge fund Arini and Sona Asset Management, both mostly based out of Europe, have hired staff either focused on US leveraged loans or CLO bonds this past year. In the US, hedge fund Chatham Asset Management also recently launched a CLO platform to dive into the market. This article was generated from an automated news agency feed without modifications to text.
Las Vegas officers found Raiders football player Charles Snowden “passed out” behind the wheel of a Jeep Cherokee , its engine running as it balanced atop a retaining wall, before his arrest on a misdemeanor charge of driving under the influence of alcohol, according to a police report. Blood tests showed Snowden's blood-alcohol content was about .19%, or more than twice the legal limit, according to a report by a police forensic scientist. The legal limit for drivers in Nevada is 0.08%. The NFL , the Raiders and Snowden’s attorneys acknowledged Thursday the 26-year-old first-year defensive end was arrested early Tuesday after Las Vegas police responded shortly before midnight Monday to a report of a “suspicious” vehicle near a busy intersection southwest of the Las Vegas Strip. He was later released. Tom Brady 'agreement' between FOX and Las Vegas Raiders with NFL icon set to be quizzed Antonio Pierce does not hold back in brutally honest Raiders assessment before Chiefs game A Las Vegas justice of the peace on Thursday revised the case schedule to set Snowden's arraignment for next Tuesday. Snowden's attorneys, David Chesnoff and Richard Schonfeld, acknowledged the arrest but declined to describe the circumstances. The Raiders said they were in contact with the NFL. “The club will not comment further as this is a legal matter,” a team statement said. “Mr. Snowden will be entering a not guilty plea and we will respond in court, which is the appropriate forum,” his attorneys said in a statement. It was not immediately clear if the arrest would affect Snowden’s status with the team. He has played every game this season, including in Sunday’s loss to the Tampa Bay Buccaneers in Florida. The Raiders next host the Atlanta Falcons in Las Vegas on Monday. NFL spokesperson Brian McCarthy confirmed league officials were in contact with the Raiders. League policy allows Commissioner Roger Goodell to impose a three-game suspension without pay for a first offense of the league's alcohol abuse policy. “Subject unable to respond because he was passed out,” a responding officer wrote in an arrest report that noted the SUV was running, with the doors locked. “The vehicle had almost rolled off a four-foot retaining wall.” The officer noted it took about 10 minutes for the driver to awaken and get out of the vehicle. The report said paramedics were summoned “because the driver could not stay awake or answer questions.” The report did not say if Snowden told officers during his arrest where he had been or where he was headed. The Raiders have had several players arrested on charges of driving under the influence since the team moved from Oakland to Las Vegas in 2020. The team and the community were scarred by the arrest and conviction of former first-round draft pick Henry Ruggs, a wide receiver, after a fiery high-speed crash that killed a woman and her dog on a city street in November 2021. Ruggs, now 25, was sentenced in 2023 to three to 10 years in state prison following his guilty plea to felony DUI and other charges. The Raiders released reserve defensive safety Roderic Teamer in November 2023 after his arrest in Las Vegas on misdemeanor driving under the influence and speeding charges. Records show Teamer pleaded no contest in July to reckless driving, paid $1,000 in fines and fees, and other charges against him were dismissed.
Brighton frustrated in goalless draw with BrentfordKashim Ibrahim resigns as Bauchi SSGIn today's Daily Fix:Leave it to Grand Theft Auto fans to come up with the craziest theories. The popular "moon theory" was recently debunked, however, as no new GTA 6 trailer has dropped. The theory suggests that Rockstar Games has been leaving hints as to when new trailers will drop via lunar clues in screenshots. One image released last year featured the moon in a particular lunar phase, and (likely coincidentally) the GTA 6 trailer dropped the day the real life moon was in the same phase. Didn't work this time, however. In other news, Black Ops 6 was a huge seller...on PlayStation. PS5 sales made up a whopping 82% of the game's sales, but it did move the needle on Game Pass subscriptions on Xbox and PC. And finally, Black Myth: Wukong developer Game Science is teasing something for the end of the year.
President-elect Donald Trump campaigned on the promise that his policies would reduce high borrowing costs and lighten the financial burden on American households. But what if, as many economists expect, interest rates remain elevated, well above their pre-pandemic lows? Trump could point a finger at the Federal Reserve, and in particular at its chair, Jerome Powell, whom Trump himself nominated to lead the Fed. During his first term, Trump repeatedly and publicly ridiculed the Powell Fed, complaining it kept interest rates too high. Trump’s attacks on the Fed raised widespread concern about political interference in the Fed’s policymaking. Powell, for his part, emphasized the importance of the Fed’s independence: “That gives us the ability to make decisions for the benefit of all Americans at all times, not for any particular political party or political outcome.” Political clashes might be inevitable in the next four years. Trump’s proposals to cut taxes and impose steep and widespread tariffs are a recipe for high inflation in an economy operating at close to full capacity. And if inflation were to reaccelerate, the Fed would need to keep interest rates high. Because Powell won’t necessarily cut rates as much as Trump will want. And even if Powell reduces the Fed’s benchmark rate, Trump’s own policies could keep other borrowing costs — such as mortgage rates — elevated. The sharply higher tariffs that Trump vowed to impose could worsen inflation. And if tax cuts on things like tips and overtime pay — another Trump promise — quickened economic growth, that, too, could fan inflationary pressures. The Fed would likely respond by slowing or stopping its rate cuts, thereby thwarting Trump’s promises of lower borrowing rates. The central bank might even raise rates if inflation worsens. “The risk of conflict between the Trump administration and the Fed is very high,” Olivier Blanchard, former top economist at the International Monetary Fund, said recently. If the Fed increases rates, “it will stand in the way of what the Trump administration wants.” Yes, but with the economy sturdier than expected, the Fed’s policymakers may cut rates only a few more times — fewer than anticipated just a month or two ago. And those rate cuts might not reduce borrowing costs for consumers and businesses very much. The Fed’s key short-term rate can influence rates for credit cards, small businesses and some other loans. But it has no direct control over longer-term interest rates. These include the yield on the 10-year Treasury note, which affects mortgage rates. The 10-year Treasury yield is shaped by investors’ expectations of future inflation, economic growth and interest rates as well as by supply and demand for Treasuries. An example occurred this year. The 10-year yield fell in late summer in anticipation of a Fed rate cut. Yet once the first rate cut occurred Sept. 18, longer-term rates didn’t fall. Instead, they began to rise again, partly in anticipation of faster economic growth. Trump also proposed a variety of tax cuts that could swell the deficit. Rates on Treasury securities might then have to be increased to attract enough investors to buy the new debt. “I honestly don’t think the Fed has a lot of control over the 10-year rate, which is probably the most important for mortgages,” said Kent Smetters, an economist and faculty director at the Penn Wharton Budget Model. “Deficits are going to play a much bigger role in that regard.” Occasional or rare criticism of the Fed chair isn’t necessarily a problem for the economy, so long as the central bank continues to set policy as it sees fit. But persistent attacks would tend to undermine the Fed’s political independence, which is critically important to keeping inflation in check. To fight inflation, a central bank often must take steps that can be highly unpopular, notably by raising interest rates to slow borrowing and spending. Political leaders typically want central banks to do the opposite: keep rates low to support the economy and the job market, especially before an election. Research has found that countries with independent central banks generally enjoy lower inflation. Even if Trump doesn’t technically force the Fed to do anything, his persistent criticism could still cause problems. If markets, economists and business leaders no longer think the Fed is operating independently and instead is being pushed around by the president, they’ll lose confidence in the Fed’s ability to control inflation. Once consumers and businesses anticipate higher inflation, they usually act in ways that fuel higher prices — accelerating their purchases, for example, before prices increase further, or raising their own prices if they expect their expenses to increase. “The markets need to feel confident that the Fed is responding to the data, not to political pressure,” said Scott Alvarez, a former general counsel at the Fed. He can try, but it would likely lead to a prolonged legal battle that could even end up at the Supreme Court. At a November news conference, Powell made clear that he believes the president doesn’t have legal authority to do so. Most experts think Powell would prevail in the courts. And from the Trump administration’s perspective, such a fight might not be worth it. Powell’s term ends in May 2026, when the White House could nominate a new chair. It is also likely the stock market would tumble if Trump attempted such a brazen move. Bond yields would probably increase, too, sending mortgage rates and other borrowing costs up. Financial markets might also react negatively if Trump is seen as appointing a loyalist as Fed chair to replace Powell in 2026. Yes, and in the most egregious cases, it led to stubbornly high inflation. Notably, President Richard Nixon pressured Fed Chair Arthur Burns to reduce interest rates in 1971, which the Fed did, as Nixon sought reelection the next year. Economists blame Burns’ failure to keep rates sufficiently high for contributing to the entrenched inflation of the 1970s and early 1980s. Thomas Drechsel, an economist at the University of Maryland, said that when presidents intrude on the Fed’s interest rate decisions, “it increases prices quite consistently and it increases expectations, and ... that worries me because that means inflation might become quite entrenched.” Since the mid-1980s, with the exception of Trump in his first term, presidents have scrupulously refrained from public criticism of the Fed. “It’s amazing, how little manipulation for partisan ends we have seen of that policymaking apparatus,” said Peter Conti- Brown, a professor of financial regulation at the University of Pennsylvania’s Wharton School. “It really is a triumph of American governance.” Get local news delivered to your inbox!WASHINGTON—President Joe Biden delivered a speech on Dec. 10 highlighting his economic achievements as he nears the final days of his presidency. He also expressed hope that the incoming Trump administration would “preserve and build on” his progress. Biden delivered his remarks at the Brookings Institution in Washington, defending his economic plan, which focuses on “growing the economy from the middle out and the bottom up.” “We got back to full employment, got inflation back down, and managed a soft landing that most people thought was not very much likely to happen,” Biden said. “Most economists agree a new administration is going to inherit a fairly strong economy.” Biden said that his agenda, which prioritized investing in infrastructure and manufacturing, has not yet been fully felt by Americans but that its benefits will become more visible over the coming years. “I know it’s been hard for many Americans to see, and I understand it,” he said. He defended his economic record by saying that he took over the economy during a financial crisis caused by the COVID-19 pandemic and transformed it into the “strongest economy in the world.” He stated that his goal was not simply to get the United States out of the economic crisis but also to put the country on a stronger course for the future. “After decades of sending jobs overseas for the cheapest labor possible, companies are coming back to America, investing and building here and creating jobs here in America,” Biden said. Biden’s approval ratings have fallen amid criticism over his handling of the economy, the Israel–Hamas war, and the U.S. border crisis. Recently, he also faced backlash for pardoning his son, Hunter Biden, after having said on multiple occasions that he wouldn’t, a move that drew criticism even from members of his party. The website is packed with information, including economic statistics, charts, and testimonies from people who say they thrived under his administration. It also includes links to seven media pieces that praise Biden’s economic record. The website’s opening page title states, “Building back from a financial crisis to the strongest economy in the world.” One of the charts shows that under Biden, cumulative GDP growth was 12.6 percent, surpassing the recorded growth under former President Barack Obama’s first and second terms (6.1 percent and 10.4 percent, respectively) and President-elect Donald Trump’s first term (7.6 percent). “After decades of trickle-down economics that slashed taxes for the wealthy, diminished public investments, offshored jobs and factories, destroyed unions, and ripped at the social safety net, President Biden has written a new playbook that’s growing the economy from the middle out and the bottom up,” the White House said in a statement ahead of Biden’s speech. During his remarks, Biden highlighted key actions he took during his presidency, which he believes are pivotal in rebuilding the economy for the long term. He expressed hope that the incoming Trump administration “will preserve and build on this progress.” Biden took aim at Trump’s tax cut proposal, stating that he’s “never been a big fan of trickle-down economics.” Additionally, he criticized Trump’s proposal to impose tariffs on Chinese goods, calling it “a major mistake.” In an effort to create resilient supply chains, the Biden administration also announced on Dec. 10 the allocation of $6.2 billion in direct funding to Micron Technology. The funding is part of the CHIPS Act, which aims to encourage U.S. companies to build new chip manufacturing plants domestically. Micron plans to invest nearly $100 billion in New York and $25 billion in Idaho over the next two decades, according to a statement by the Department of Commerce. This investment “will help the United States grow its share of advanced memory manufacturing from less than 2% today to approximately 10% by 2035,” the department said.
A suspected Chinese spy with business ties to Prince Andrew is barred from UKBritish Columbia’s governing NDP and the BC Green Party have hammered out a deal that will see the government implement a variety of the smaller party’s priorities in exchange for support over their four-year mandate. The deal gives the NDP’s razor-thin majority breathing room to survive confidence votes in the term to come. “I know that we are both distinct parties with distinct values but in a time that we’re in today, it’s great to find a space where we can speak across differences and lay out initiatives that we know will make British Columbians’ lives better,” B.C. Attorney General Nikki Sharma said Friday. The NDP won 47 seats in the provincial election, the bare minimum to form a majority. But a New Democrat will serve as speaker of the legislature, a neutral role by constitutional convention, potentially leaving them short of support on key votes. The NDP’s majority was further shaken this month by the revelation cabinet minister Grace Lore has cancer. The BC Greens have now agreed to back the NDP on all confidence votes and priorities laid out in the deal. Green MLAs will be free to vote on other matters however they choose. The agreement will come up for renewal annually. In turn, the government has incorporated a variety of proposals from the BC Green platform into their agenda, and has committed to “a relationship of trust based on good faith and no surprises.” BC Conservative Leader John Rustad was quick to slam the deal. “David Eby on election night, came out and was very solemn and said he heard the message from voters, they had to do better, they had to make changes,” he said. “This agreement with the Green Party shows that not only did he not learn any lessons, but that he’s doubling down on these failed policies that have been so destructive.” The agreement covers a variety of priority areas including health care, the environment and housing. Under the deal, the NDP has agreed to pursue the Greens’ centrepiece health policy, the creation of a “Community Health Centre” model. During the election campaign, the Greens proposed creating a community health centre in every B.C. riding . Patients would register with their local community primary care office, then receive care from a variety of different health-care professionals ranging from doctors and nurses to physiotherapists and dieticians. The deal would see the two parties work together to set targets to open such health centres in 2025 and 2026. The government has also agreed to a performance analysis of the entire health system, including Urgent and Primary Care Centres and family practices. And the NDP has agreed to work to expand coverage for psychologists with $50 million in new funding. On housing, the agreement pledges to actively support non-profits, co-ops and charitable societies to buy and build 30,000 units of non-market housing over four years, with a target of 7,500 in 2025. The deal pledges to expand access to renter protection resources, with $75 million in new funding, and to review and recapitalize the Rental Protection Fund. It also promises to work with municipalities to implement new housing service models to address homelessness. Under the agreement, the NDP has agreed to a review of its CleanBC program a year early, and to review the province’s forest management program, with the Greens to be “fully involved” in both reviews. Pending the resolution of legal proceedings and negotiations with the Ditidaht and Pacheedaht First Nations, the government has also agreed to “ensure permanent protection” of the Fairy Creek watershed. The government has also agreed to $50 million a year to support the rollout of heat pumps to low- and moderate-income households. The parties have also agreed to implement “frequent, reliable and affordable regional transit” on Highway 16 in Vancouver Island, Highway 1, and the Sea to Sky Corridor. And the agreement could see a revival of B.C.’s electoral reform debate. The parties have agreed to launch an all-party committee that reviews ways to increase democratic engagement and voter participation. While there is no formal commitment to pursuing electoral reform yet again, under the deal the idea will get at least another look. The agreement pledges to “review and consider preferred methods of proportional representation.” You can see the full details of the agreement, including other policies the parties have agreed to cooperate on, here .Donald Trump is returning to the world stage. So is his trolling
Csb bancorp CEO Eddie Steiner acquires $58,375 in common stockThe Chinese government imposed sanctions on seven companies on Friday in response to US military sales and other forms of support for Taiwan, some of which were signed into law this week by US President Joe Biden. Beijing’s Ministry of Foreign Affairs identified the companies as Insitu, Hudson Technologies, Saronic Technologies, Raytheon Canada, Raytheon Australia, Aerkomm and Oceaneering International Inc. “Relevant senior executives” of the firms were also sanctioned, although none was named. The massive US$895 billion National Defence Authorisation Act (NDAA), annual legislation that funds and directs policy for the US military and security agencies for the coming financial year, included numerous measures intended to bolster military support for Taiwan. Some of these provisions call for more direct aid to the self-governing island’s military and security forces, including US$3o0 million earmarked for “intelligence, surveillance, and reconnaissance capabilities”; “manned and unmanned aerial capabilities”; “integrated air and missile defence systems” and other systems. Other measures in the NDAA authorise more coordination with allies and other countries on supporting Taiwan’s defence capability. This includes a requirement for the State and Defence Departments to study the feasibility of enrolling Japan in Aukus, the security alliance of US, Britain and Australia. Speaking in Beijing, Chinese Foreign Ministry spokeswoman Mao Ning called on Washington to “immediately stop arming Taiwan in any form, view China’s development and China-US relationship objectively and rationally, not to implement these negative articles concerning China and stop wrong words and deeds that harm China’s interests”.Article content Alberta aims to cut costs for ratepayers and prioritize affordability with a planned series of changes to the electricity market. Under the changes announced on Tuesday, costs for new transmission infrastructure will be assigned on a cost-causation basis, where those who use the most power pay for any cost increases. Currently, ratepayers pay 100 per cent of the cost to build new transmission lines. The changes will also include moving to a day-ahead model. The new legislation is expected in the spring. In an interview with Postmedia, Affordability and Utilities Minister Nathan Neudorf said transmission costs are roughly equalized throughout the province and distribution is very regional. He added that northern rural Albertans pay three to five times as much as those in metropolitan centres. “It doesn’t matter what project we’re talking about, ratepayers will be the ones saving money,” Neudorf said. “In every scenario, this is an affordability measure for them.” Paying 100% or less Neudorf said while it’s difficult to pinpoint what the average Albertan pays for electricity, the changes mean ratepayers will now be paying “100 per cent or less.” Neudorf said when an area needs to be developed, ratepayers whose power usage increases would pay for the added cost. However, if the needs are already met in a certain area — where a resource like wind is available, for example — those advocating for that resource would bear the cost of upgrading the system. “It’s unfair for ratepayers to have to pay more for something they’re already getting,” Neudorf said. Neudorf said those building way off the grid will have to pay to build transmission lines. Some recently announced data centres will be self-sufficient, with no need to connect to the transmission grid. The proposed changes aim to encourage the building of new power plants in optimal locations and on existing infrastructure. Day-ahead market In the current market, power generators provide a real-time price. The province’s proposed market reforms will include moving to a day-ahead market, where power generators will commit their power 24 hours in advance rather than a couple of hours beforehand. Neudorf said this gives system operators clear information about how much power is available so that the system can respond to power fluctuations with increased reliability and stability, reducing the risk of potential grid alerts. “It also provides a lot more discipline and competition in the bidding behaviours of all of our generators because everybody will see their pricing 24 hours in advance and see their trends,” Neudorf said. “It is where most jurisdictions in North America are going to, so it really helps discipline the price spikes to a more stable pricing, competitive market.” Before the legislation is approved, Neudorf said there are several temporary measures in place, including the market power mitigation legislation passed last spring, which restricted generators from charging high prices. Neudorf said this measure has brought electricity prices down by 39 per cent from their last peak in 2024. ctran@postmedia.com @kccindytran Bookmark our website and support our journalism: Don’t miss the news you need to know — add EdmontonJournal.com and EdmontonSun.com to your bookmarks and sign up for our newsletters . You can also support our journalism by becoming a digital subscriber. Subscribers gain unlimited access to The Edmonton Journal, Edmonton Sun, National Post and 13 other Canadian news sites. The Edmonton Journal | The Edmonton Sun
Authorities failed to produce docs on Trump assassination attempt: task force(The Center Square) – After an Iranian national was arrested on Monday in a Boston suburb for his alleged ties to a terrorist attack that killed three U.S. service members, the town's leaders unanimously voted to pass a sanctuary city ordinance. On Monday, Iranian-born Mahdi Mohammad Sadeghi, a resident of Natick, Mass., was charged in federal court in Boston "with conspiring to export sophisticated electronic components from the United States to Iran in violation of U.S. export control and sanctions laws," The Center Square reported. Sadeghi and others allegedly conspired to evade U.S. export control and sanctions laws by procuring goods, services, and technology from American companies and exporting them to an Iranian-based company that contracts with the Islamic Revolutionary Guard Corps, a US-designated foreign terrorist organization. The company allegedly manufactured the drones used by the IRGC that killed U.S. soldiers stationed in Jordan in January. Sadeghi faces up to 20 years in prison for his role in a conspiracy that goes back nearly 10 years , according to the complaint . His arrest occurred after an unprecedented number of Iranian and special interest aliens were apprehended after illegally entering the U.S., The Center Square reported . It also occurred after Islamic terrorist incidents increased under President Joe Biden and after he extended a national emergency regarding Iran last month. The U.S. has been in a perpetual state of national emergency related to Iran since Nov. 14, 1979, The Center Square reported . Forty-eight hours after Sadeghi's arrest , on Wednesday night, Natick's Select Board members unanimously passed a sanctuary city policy, 5-0. It prohibits taxpayer-funded town employees from inquiring about or collecting information about residents' citizenship status, among other provisions. Natick joined Boston, Somerville, Northampton, Amherst Cambridge, Concord, Lawrence and Newton in adopting so-called sanctuary city policies ahead of President-elect Donald Trump's stated mass deportation policy. The policy is being implemented in response to more than 14 million illegal border crossers being reported under the Biden administration as crime and national security threat escalated, The Center Square reported. Natick's actions followed the all-Democratic Boston City Council unanimously voting to reaffirm the Boston Trust Act, which prohibits Boston Police Department officers from cooperating with U.S. Immigration and Customs Enforcement (ICE) with some exceptions. It also comes after Boston's mayor said the city wasn't planning on cooperating with ICE, The Center Square reported. Massachusetts' sanctuary policies work against law enforcement tasked with protecting residents, Todd Lyons, acting assistant director of field operations for ICE's Enforcement and Removal Operations in New England, argues. Elected officials "preaching their sanctuary city status are making it easier for those who commit sex crimes and fentanyl dealers. We need cities and towns to work with us to keep these criminals out of neighborhoods. "We focus on the worst of the worst and all the political rhetoric is not helping," he told the Boston Herald. Democratic leaders describing Massachusetts "as a sanctuary to the international community and that they won't cooperate with federal authorities, sends a dangerous signal to bad actors around the world," the chair of the Massachusetts Republican Party, Amy Carnevale, said , "It tells them that Massachusetts is a safe haven where they can evade prosecution from the United States federal government." Last year, Massachusetts Lt. Gov. Kim Driscoll urged residents to house illegal border crossers, saying, " step up if you're willing to have an additional family be part of your family." One year later, the state converted an empty former prison to house them, resulting in local outrage, The Center Square reported . Carnevale said it was time for Driscoll to "stand with the people of Massachusetts and declare that our state will no longer serve as a sanctuary for criminals whether they're here legally or illegally. For the safety and security of our communities, Massachusetts must send a clear message: there is no sanctuary for international criminals in our Commonwealth." ICE agents have been arresting violent criminals in Massachusetts, including men convicted of aggravated rape, assault and battery, and fugitives wanted in their home countries for violent sexual crimes. In many cases, sanctuary jurisdictions refused to cooperate with ICE, and instead released violent offenders into the community who then committed additional crimes, The Center Square reported . New Hampshire's incoming-Gov. Kelly Ayotte has had harsh words for Massachusetts, saying, "Our neighbors to the south seem intent on proving that the definition of insanity is doing the same thing and expecting a different result. As they struggle with a billion-dollar illegal immigrant crisis, they are instead choosing to double down," she told Fox News Digital. Ayotte, who is replacing outgoing Gov. Chris Sununu, ran on a campaign against the "Mass-i-fication" of New Hampshire. "Here in New Hampshire, we are going to ban sanctuary policies and give law enforcement the tools to work together to ensure this crisis never comes to our towns," she said.