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How China Became the World’s Largest Gold Consumer and ProducerB.C. premier says feds and provinces plan right-left approach to Trump's tariff plans
WASHINGTON (AP) — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.
Elon Musk, the world's richest person and one of Donald Trump's closest allies, met with US lawmakers Thursday on his plans for overseeing radical government spending cuts under the incoming administration. President-elect Trump rewarded the Tesla, X and SpaceX chief for his support during the White House campaign by naming him head of the newly created Department of Government Efficiency, along with another wealthy ally, Vivek Ramaswamy. Although the office, dubbed DOGE, has a purely advisory role, Musk's star power and intense influence in Trump's inner circle bring political clout. As Musk and Ramaswamy strode into the Capitol for meetings with lawmakers, Republican Speaker Mike Johnson touted "a new day in America." "There's an enormous amount of waste, fraud and abuse," he told reporters. "Government is too big, it does too many things, and it does almost nothing well." Musk and Ramaswamy have said they can identify billions of dollars of cuts in spending, sparking questions about whether Republicans will even try to slash politically popular social security programs. Writing in the Wall Street Journal last month, the two businessmen laid out plans for the White House to cut staff, trim government programs and reduce federal regulations, even if it means bypassing Congress, which holds budgetary power. "The entrenched and ever-growing bureaucracy represents an existential threat to our republic, and politicians have abetted it for too long," Musk and Ramaswamy wrote. "We're doing things differently. We are entrepreneurs, not politicians. During Trump's election campaign, Musk vowed to reduce federal spending by $2 trillion. This would represent cutting total US spending by a third, almost certainly meaning devastation of social support programs -- something that has never garnered strong political backing. Musk's emphasis on firing large numbers of government employees, however, echoes Republican talking points about the need to take on an overbearing state and may garner more support. Musk says he is seeking "mass head-count reductions across the federal bureaucracy." Musk suggested banning government employees from working at home as an opening tactic. "Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome." Cuts will also target subsidies to public broadcasters and groups such as Planned Parenthood, which campaigns for abortion access and offers an array of reproductive health services. But DOGE is unlikely, at least initially, to go after welfare programs such as Social Security or health insurance for the poor and seniors, Ramaswamy said in an interview with Axios on Wednesday. Such cuts should be "a policy decision that belongs to the voters" and their representatives in Congress, Ramaswamy said. A reduction in military spending, which climbed to $820 billion in 2023, is also unlikely to be on the table. Musk's new role raises the question of potential conflicts of interest, since he could be issuing policy recommendations that impact directly on his own business empire. Underlining the close connection to DOGE, Musk's favorite cryptocurrency is called Dogecoin. rle/ev/md/sms/mdNoneSpecial Counsel Jack Smith on Monday moved to dismiss the case against US President-elect Donald Trump for allegedly conspiring to overturn the results of the 2020 election he lost to Joe Biden. Smith, in a filing with the judge in Washington presiding over the historic case, said it should be dropped in light of a long-standing Justice Department policy not to prosecute a sitting president. The special counsel asked District Judge Tanya Chutkan to dismiss the case “without prejudice” — leaving open the possibility it could be revived after Trump leaves office four years from now. Possibilty of revival after Trump leaves office Smith paused the election interference case earlier this month after Trump defeated Kamala Harris in the November 5 presidential election. “The Government’s position on the merits of the defendant’s prosecution has not changed,” Smith said in the filing with Chutkan. “But the circumstances have.” “It has long been the position of the Department of Justice that the United States Constitution forbids the federal indictment and subsequent criminal prosecution of a sitting President,” Smith said. ALSO READ: WATCH G20: Ramaphosa promises to carry on ‘good work’ done by Brazil “As a result this prosecution must be dismissed before the defendant is inaugurated.” Trump’s communications director Steven Cheung welcomed the move to dismiss the case, calling it a “major victory for the rule of law.” “The American People and President Trump want an immediate end to the political weaponization of our justice system and we look forward to uniting our country,” Cheung said in a statement. ‘Major victory for the rule of law’ Trump is accused of conspiracy to defraud the United States and conspiracy to obstruct an official proceeding — the session of Congress called to certify Biden’s win, which was violently attacked on January 6, 2021, by a mob of the then-president’s supporters. Trump is also accused of seeking to disenfranchise US voters with his false claims that he won the 2020 election. Smith charged Trump with mishandling top secret documents after leaving the White House, but that case was tossed out by a federal judge in Florida, a Trump appointee, on the grounds that Smith was unlawfully appointed. ALSO READ: JD Vance’s rise through Trump’s unpredictable orbit Smith had appealed that dismissal but is now expected to drop the appeal. Trump also faces two state cases — in New York and Georgia. He was convicted in New York in May of 34 counts of falsifying business records to cover up a hush money payment to porn star Stormy Daniels on the eve of the 2016 election to stop her from revealing an alleged 2006 sexual encounter. Trump’s cases Judge Juan Merchan has postponed sentencing while he considers a request from Trump’s lawyers that the conviction be thrown out in light of the Supreme Court ruling in July that an ex-president has broad immunity from prosecution. In Georgia, Trump faces racketeering charges over his efforts to subvert the 2020 election results in the southern state, but that case will likely be frozen while he is in office under the policy of not prosecuting a sitting president. – By: © Agence France-Presse
Drexel secures 83-71 win over Chicago State
McGuire still hasn’t resigned his state Senate seat weeks after congressional win
NEW YORK , Nov. 21, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global live music market size is estimated to grow by USD 35.56 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 17.38% during the forecast period. Growing demand for live music experiences is driving market growth, with a trend towards rise in adoption of virtual and hybrid live music experiences. However, privacy and security concerns over online ticket booking platforms poses a challenge.Key market players include Alliance Tickets, Bassett Events Inc., Coast To Coast Tickets LLC, CTS Eventim AG and Co. KGaA, Eventbee Inc., Eventbrite Inc., Event.com Inc., Live Nation Entertainment Inc., Lyte Inc., SeatGeek Inc., Sunrise Records Ltd., The Ticketline Network Ltd., Ticket City Inc., TicketNetwork Inc., TickPick LLC, TiqIQ LLC, TodayTix Inc., Viagogo Entertainment Inc., Vivendi SE, and Vivid Seats Inc.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Key Market Trends Fueling Growth Live music market is a thriving industry that caters to the worldwide demand for authentic and musical experiences. Trends in this sector include live music concerts, mobile apps, and the rise of DJs. Genres such as Blues, Pop, Rock, Metal, Electronica, and more continue to shape audience preferences. Industrial developments, urbanization, and technology adoption have led to the automation of production lines and the integration of technology in music events. Customer preferences drive emerging trends like local talent, interactive activities, and art installations at music festivals. Macroeconomic factors, disposable incomes, and social media influence ticket sales for B2C enterprises. Event organizers leverage user metrics, online purchase, and modeling approaches to optimize their operations. The live music market is a cornerstone of the entertainment sector, providing livelihoods for musicians, artists, agents, promoters, ticketing companies, contractors, record companies, music publishers, corporate brands, and sponsors. The sector includes small clubs, theatre-sized venues, arena shows, and stadiums, featuring international stars and local talent. Festival dates, performance schedules, and promotional campaigns are crucial elements of successful live music events. Risk takers, fee negotiations, and show production are integral parts of the business. The future of the live music market is shaped by virtual online platforms, holograms, and fan bases. The sector continues to evolve, offering unique experiences for fans and like-minded individuals. The live music industry has experienced a notable increase in the utilization of virtual and hybrid events due to technological advancements and the impact of the COVID-19 pandemic. Artists and event organizers have responded to evolving circumstances by adopting innovative approaches, enabling them to deliver live music experiences to global audiences despite challenges posed by large-scale gatherings. Virtual and hybrid formats have gained popularity as a solution to the disruptions caused by the pandemic, allowing musicians and artists to continue engaging with their fan bases. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges Live music market is a dynamic and ever-evolving industry, encompassing various elements such as concerts, mobile apps, DJs, artists, and genres like Blues, Pop, Rock, Metal, and Electronica. Challenges in this sector include urbanization, production lines, automation, and technology adoption. Industrial developments and macroeconomic factors influence music events worldwide. Customer preferences and emerging trends shape the landscape, with local special circumstances and social outlook also playing a role. Live music events offer unique experiences for consumers, bringing together like-minded individuals and passionate audiences. Younger generations value experiences over material possessions, driving growth in music festivals and virtual online platforms. Technology, such as holograms and social media, has transformed the industry, enabling B2C enterprises to reach wider audiences and increase Gross Merchandise Value. Event organizers face various challenges, including ticket sales, artist contracts, and production logistics. Collaboration between agents, promoters, ticketing companies, contractors, record companies, music publishers, corporate brands, and sponsors is crucial. The live music market is a cornerstone of the entertainment sector, providing livelihoods for musicians, crew members, and industry professionals. As the industry continues to evolve, understanding consumer behavior, representing the social outlook, and adapting to technological advancements will be key to success. Goldman Sachs predicts continued growth in the sector over the next few decades. Ultimately, the live music market offers a unique blend of art, social interaction, and entertainment for fans and artists alike. In today's digital marketplace, the music industry has seen a significant shift towards online platforms and applications. This transition brings new opportunities for live music market providers to reach their audience with customized offerings. However, it also poses new challenges, particularly in the area of data privacy. To effectively target customers, service providers collect data through cookies, which track customer preferences. This data is then utilized for customer profiling, behavior analysis, and data mining. While this information aids in delivering personalized services, indiscriminate use can infringe on customer privacy. Moreover, location-based services, which require geo-location information, raise privacy concerns. As the IT industry continues to create an open, competitive electronic marketplace, it is crucial to provide secure and reliable infrastructure for the seamless transfer and integration of critical information. Ensuring data privacy and security is essential to build trust and maintain customer loyalty. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This live music market report extensively covers market segmentation by 1.1 Tickets 1.2 Sponsorship 1.3 Merchandising 2.1 Pop 2.2 Rock 2.3 Hip-hop 2.4 EDM 2.5 Metal music and others 3.1 North America 3.2 Europe 3.3 APAC 3.4 South America 3.5 Middle East and Africa 1.1 Tickets- The ticketing segment is a pivotal part of the global live music market, facilitating fan access to live music events through ticket sales and distribution. Online ticketing platforms, such as Ticketmaster and StubHub, have become popular due to their user-friendly interfaces and secure payment gateways. Mobile ticketing, featuring digital tickets accessible on smartphones, enhances the ticketing experience and reduces the risk of counterfeit tickets. Secondary ticketing platforms, like Viagogo and SeatGeek, offer fans an alternative to secure tickets for sold-out events. Data analytics and personalized marketing strategies are emerging trends, enabling ticketing companies to provide customized recommendations and targeted campaigns. These advancements are anticipated to boost the growth of the ticketing segment in the live music market. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis Live music concerts continue to captivate audiences worldwide, bringing people together through the power of music. Mobile apps have revolutionized the industry, allowing fans to access tickets, merchandise, and real-time updates on their favorite artists. From Blues to Pop, Rock, Metal, Electronica, and beyond, music events cater to diverse customer preferences. Emerging trends include the integration of technology, such as holograms and virtual online platforms, into live performances. Local special circumstances and macroeconomic factors can impact the livelihood of musicians, influencing tours and festivals. Social interaction and the connection with like-minded individuals are cornerstones of the live music experience, spanning decades. The younger generation continues to discover new artists and genres, ensuring the industry's longevity. Live music events offer more than just entertainment – they provide a unique experience for fans to engage with their favorite musicians and create memories that last a lifetime. Market Research Overview Live music concerts have seen a significant in popularity with the advent of mobile apps, allowing fans to easily discover and purchase tickets for their favorite artists and genres, including Blues, Pop, Rock, Metal, Electronica, and more. The live music scene is not just limited to concerts but also includes parties and music festivals, which offer unique experiences for like-minded individuals. Urbanization and industrial developments have led to the adoption of technology in music production lines and automation, transforming the way music is created and performed. Emerging trends such as virtual online platforms, holograms, and interactive activities have added new dimensions to live music events, catering to the younger generation's preferences for experiences over material possessions. Music festivals have become a cornerstone of the live music industry, attracting passionate audiences from worldwide, with genres ranging from local talent to international stars. Event organizers leverage social media and ticket sales to reach consumers, while B2C enterprises focus on Gross Merchandise Value and user metrics to optimize their offerings. The live music industry is influenced by various macroeconomic factors, including disposable incomes, consumer behavior, and emerging trends. Representativeness, social outlook, and urban population play a crucial role in shaping the industry's future, with Goldman Sachs predicting a decade-long livelihood for musicians, tours, and festivals. Live performance remains the heart of the industry, with artists, DJs, agents, promoters, ticketing companies, contractors, record companies, music publishers, corporate brands, and sponsors all playing essential roles in bringing the music to the fans. From small clubs to arena shows and stadiums, the live music industry continues to evolve, offering unforgettable experiences for fans and artists alike. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Revenue Tickets Sponsorship Merchandising Genre Pop Rock Hip-hop EDM Metal Music And Others Geography North America Europe APAC South America Middle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE Technavio‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund
Novak Djokovic says his rivalry with Andy Murray has “one final chapter” after his long-time adversary joined him as his coach for the upcoming Australian Open. Murray – Britain’s greatest ever player – retired after this summer’s Olympics at the age of 37 after finally admitting defeat in his battle against his body. Many in the game expected the Scot would one day return to tennis and become a coach, particularly due to his love of the sport, hard work and his tactical acumen. He never liked retirement anyway. 🙌 pic.twitter.com/Ga4UlV2kQW — Novak Djokovic (@DjokerNole) November 23, 2024 But it came with some degree of shock on Saturday afternoon when a social media post from Djokovic, playing on Murray’s light-hearted tweet upon his departure, read: “He never liked retirement anyway”. The attached video announced Murray, who he lost to in two Slam finals but beat in four Australian showpieces, would coach him over the winter and through January’s Open in Melbourne. “We played each other since we were boys, 25 years of pushing each other to our limits. We had some of the most epic battles in in our sport. They called us gamechangers, risk-takers, history-makers,” Djokovic said. “I thought our story may be over. Turns out it has one final chapter. It’s time for one of my toughest opponents to step into my corner. Welcome aboard, coach Andy Murray.” Murray, who beat Djokovic to win the US Open in 2012 and Wimbledon in 2013, says he wants to help the 24-time grand slam champion achieve his goals. “I’m going to be joining Novak’s team in the off-season, helping him to prepare for the Australian Open, he said. “I’m really excited for it and looking forward to spending time on the same side of the net as Novak for a change, helping him to achieve his goals.” Djokovic, a week younger than his new coach, added: “I am excited to have one of my greatest rivals on the same side of the net, as my coach. “Looking forward to the start of the season and competing in Australia alongside Andy with whom I have shared many exceptional moments on the Australian soil.” Djokovic beat Murray in the 2011, 2013, 2015 and 2016 Australian Open finals as well as the French Open final in 2016. It was after he unseated Djokovic at the top of the rankings in 2016 that Murray suffered the hip injury which ultimately derailed his career. Since his retirement, Murray has been playing golf with the same dedication he pursued his tennis but will now return to his natural habitat. Djokovic, who split with coach Goran Ivanisevic earlier this year, hopes that adding Murray to his team will help him get back to the top of the game after he went through a calendar year without winning a grand slam for the first time since 2017. Jannik Sinner and Carlos Alcaraz have developed a stranglehold at the top of the men’s game and Djokovic, who has seen Murray, Roger Federer and Rafael Nadal all retire in recent years, is still hoping to move clear of the record 24 grand slams he shares with Margaret Court.World News | Pakistan: Day Ahead of Nationwide Protests, PTI Accuses Govt of Planning to Shut Down Internet
Barry Keoghan hits out at 'deadbeat dad' claims again as he reveals damaging impactNEW YORK (AP) — Major League Baseball switched a pair of series involving the Tampa Bay Rays to the first two months of the season in an attempt to avoid summer weather problems at open-air Steinbrenner Field, their temporary home following damage to Tropicana Field. Tampa Bay is scheduled to play 13 of its first 16 games at home and 47 of 59 through May 28, then play 69 of its last 103 games on the road. The Rays are home for eight of 25 games in July and eight of 26 in August. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Sixers star Joel Embiid set to be disqualified from NBA awards for second season in a rowIn a dramatic turn of events, South Korea's President Yoon Suk Yeol faces mounting pressure after his controversial move to impose martial law earlier this week. The ruling People Power Party leader has stopped short of calling for impeachment but advocates for suspending the president's authority. The president's martial law declaration aimed at countering 'anti-state forces' sparked immediate backlash. Opposition groups, citing claims of insurrection, have called for his impeachment with a vote set for Saturday. The declaration was quickly reversed, but the incident has left the nation's political landscape in a state of upheaval. Party leader Han Dong-hoon signaled possible support for impeachment based on new revelations of plans to detain political opponents. With Yoon's approval rating plummeting, lawmakers are deeply divided, debating whether to align with impeachment or protect their political future from an uncertain new regime. (With inputs from agencies.)Elon Musk, the world's richest person and one of Donald Trump's closest allies, met with US lawmakers Thursday on his plans for overseeing radical government spending cuts under the incoming administration. President-elect Trump rewarded the Tesla, X and SpaceX chief for his support during the White House campaign by naming him head of the newly created Department of Government Efficiency, along with another wealthy ally, Vivek Ramaswamy. Although the office, dubbed DOGE, has a purely advisory role, Musk's star power and intense influence in Trump's inner circle bring political clout. As Musk and Ramaswamy strode into the Capitol for meetings with lawmakers, Republican Speaker Mike Johnson touted "a new day in America." "There's an enormous amount of waste, fraud and abuse," he told reporters. "Government is too big, it does too many things, and it does almost nothing well." Musk and Ramaswamy have said they can identify billions of dollars of cuts in spending, sparking questions about whether Republicans will even try to slash politically popular social security programs. Writing in the Wall Street Journal last month, the two businessmen laid out plans for the White House to cut staff, trim government programs and reduce federal regulations, even if it means bypassing Congress, which holds budgetary power. "The entrenched and ever-growing bureaucracy represents an existential threat to our republic, and politicians have abetted it for too long," Musk and Ramaswamy wrote. "We're doing things differently. We are entrepreneurs, not politicians. During Trump's election campaign, Musk vowed to reduce federal spending by $2 trillion. This would represent cutting total US spending by a third, almost certainly meaning devastation of social support programs -- something that has never garnered strong political backing. Musk's emphasis on firing large numbers of government employees, however, echoes Republican talking points about the need to take on an overbearing state and may garner more support. Musk says he is seeking "mass head-count reductions across the federal bureaucracy." Musk suggested banning government employees from working at home as an opening tactic. "Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome." Cuts will also target subsidies to public broadcasters and groups such as Planned Parenthood, which campaigns for abortion access and offers an array of reproductive health services. But DOGE is unlikely, at least initially, to go after welfare programs such as Social Security or health insurance for the poor and seniors, Ramaswamy said in an interview with Axios on Wednesday. Such cuts should be "a policy decision that belongs to the voters" and their representatives in Congress, Ramaswamy said. A reduction in military spending, which climbed to $820 billion in 2023, is also unlikely to be on the table. Musk's new role raises the question of potential conflicts of interest, since he could be issuing policy recommendations that impact directly on his own business empire. Underlining the close connection to DOGE, Musk's favorite cryptocurrency is called Dogecoin. rle/ev/md/sms/md
SMITHFIELD, R.I. (AP) — Malik Grant rushed for 204 yards and three touchdowns and Rhode Island beat Bryant 35-21 on Saturday to capture its first league title in 39 years. Rhode Island (10-2, 7-1 Coastal Athletic Association) secured the program's seventh title, with each of the previous six coming in the Yankee Conference. The Rams tied a program record for total wins in a season with 10, first set in 1984 and matched in 1985. Hunter Helms threw for 209 yards with one touchdown and one interception for Rhode Island. Grant also added his first touchdown reception of the season. Grant rushed for 47 yards on the first snap of the second half. He ran for 56 yards on the drive that ended with his 4-yard touchdown catch for a 20-14 lead. An interception by Braden Price on the ensuing Bryant possession set up another Grant rushing touchdown. Bryant scored in the fourth quarter to make it a one-score game, but a 15-play, 72-yard drive ended with a 3-yard touchdown run by Grant. Grant's 13 rushing touchdowns are tied for Rhode Island's single-season record set last season by Ja’Den McKenzie. Brennan Myer threw for 189 yards with two touchdowns and two interceptions for Bryant (2-10, 0-8). Dylan Kedzior rushed for 80 yards and a touchdown, and Landon Ruggieri caught eight passes for 105 yards and a score. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-footballThe blistering rally in gold augurs ill for the power of the dollar
NASA has announced more delays in sending astronauts back to the moon more than 50 years after the Apollo missions. or signup to continue reading Administrator Bill Nelson on Thursday said the next mission in the Artemis program - sending four astronauts around the moon and back - is now targeted for April 2026. It had been on the books for September 2025, after slipping from this year. The investigation into heat shield damage from the capsule's initial test flight two years ago took time, officials said, and other spacecraft improvements are still needed. This bumps the third Artemis mission - a moon landing by two other astronauts - to at least 2027. NASA had been aiming for 2026. NASA's Artemis program, a follow-up to the Apollo moonshots of the late 1960s and early 1970s, has completed only one mission. An empty Orion capsule circled the moon in 2022 after blasting off on NASA's new Space Launch System rocket. Although the launch and lunar laps went well, the capsule returned with an excessively charred and eroded bottom heat shield, damaged from the heat of re-entry. It took until recently for engineers to pinpoint the cause and come up with a plan. NASA will use the Orion capsule with its original heat shield for the next flight with four astronauts, according to Nelson, but make changes to the reentry path at flight's end. To rip off and replace the heat shield would have meant at least a full year's delay, officials said. During the flight test, the capsule dipped in and out of the atmosphere during re-entry and heat built up in the shield's outer layer, explained Pam Melroy, NASA deputy administrator. That resulted in cracking and uneven shedding of the outer layer. The commander of the lunar fly-around, astronaut Reid Wiseman, took part in Thursday's news conference at NASA headquarters in Washington. His crew includes NASA astronauts Victor Glover and Christina Koch and Canadian astronaut Jeremy Hansen. "Delays are agonising and slowing down is agonising and it's not what we like to do," Wiseman said. But he said he and his crew wanted the heat shield damage from the first flight to be fully understood, regardless of how long it took. Twenty-four astronauts flew to the moon during NASA's vaulted Apollo program, with 12 landing on it. The final bootprints in the lunar dust were made during Apollo 17 in December, 1972. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily! Advertisement Advertisement