
EQB reports record annual earnings, dividend increase and growth guidanceMathieu Olivier knows his name is circulating in MontrealSouth Korea's president avoids an impeachment attempt over martial law SEOUL, South Korea (AP) — South Korea's embattled President Yoon Suk Yeol avoided an opposition-led attempt to impeach him over his short-lived imposition of martial law , as most ruling party lawmakers boycotted a parliamentary vote Saturday to deny Kim Tong-hyung And Hyung-jin Kim, The Associated Press Dec 7, 2024 6:16 AM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message South Korea's main opposition Democratic Party leader Lee Jae-myung, bottom center, shout slogans during a press conference with his party members at the National Assembly in Seoul, South Korea, Saturday, Dec. 7, 2024. The signs read "Punish the rebellion leader." (AP Photo/Ahn Young-joon) SEOUL, South Korea (AP) — South Korea's embattled President Yoon Suk Yeol avoided an opposition-led attempt to impeach him over his short-lived imposition of martial law , as most ruling party lawmakers boycotted a parliamentary vote Saturday to deny a two-thirds majority needed to suspend his presidential powers. The scrapping of the motion is expected to intensify public protests calling for Yoon’s ouster and deepen political chaos in South Korea, with a survey suggesting a majority of South Koreans support the president’s impeachment. Yoon’s martial law declaration drew criticism from his own ruling conservative People Power Party, but it is also determined to oppose Yoon’s impeachment apparently because it fears losing the presidency to liberals. After the motion fell through, members of the main liberal opposition Democratic Party rallied inside the National Assembly, chanting slogans calling for Yoon's impeachment or resignation. The party's floor leader, Park Chan-dae, said it will soon prepare for a new impeachment motion. “We'll surely impeach Yoon Suk Yeol, who is the greatest risk to Republic of Korea,” party leader Lee Jae-myung said. “We'll surely bring back this country to normal before Christmas Day or year's end.” Despite escaping the impeachment attempt, many experts worry Yoon won’t be able to serve out his remaining 2 1/2 years in office. They say some ruling party lawmakers could eventually join opposition parties’ efforts to impeach Yoon if public demands for it grow further. The ruling party risks "further public outrage and national confusion if they don’t find a formula fast for Yoon’s departure,” said Duyeon Kim, a senior analyst at the Center for a New American Security in Washington. Protests against Yoon are swelling On Saturday, tens of thousands of people densely packed several blocks of roads leading up to the National Assembly, waving banners, shouting slogans and dancing. Protesters also gathered in front of PPP’s headquarters near the Assembly, angrily shouting for its lawmakers to vote to impeach Yoon. A smaller crowd of Yoon’s supporters, which still seemed to be in the thousands, rallied in separate streets in Seoul, decrying the impeachment attempt they saw as unconstitutional. Impeaching Yoon required support from 200 of the National Assembly's 300 members. The Democratic Party and five other small opposition parties, which filed the motion, have 192 seats combined. But only three lawmakers from PPP participated in the vote. The motion was scrapped without ballot counting because the number of votes didn’t reach 200. National Assembly Speaker Woo Won Shik called the result “very regrettable” and an embarrassing moment for the country’s democracy that has been closely watched by the world. Opposition parties could submit a new impeachment motion after a new parliamentary session opens next Wednesday. If Yoon is impeached, his powers will be suspended until the Constitutional Court decides whether to remove him from office. If he is removed, an election to replace him must take place within 60 days. The president apologizes for turmoil Earlier Saturday, Yoon issued a public apology over the martial law decree, saying he won’t shirk legal or political responsibility for the declaration and promising not to make another attempt to impose martial law. He said would leave it to his party to chart a course through the country’s political turmoil, “including matters related to my term in office.” “The declaration of this martial law was made out of my desperation. But in the course of its implementation, it caused anxiety and inconveniences to the public. I feel very sorry over that and truly apologize to the people who must have been shocked a lot,” Yoon said. Since taking office in 2022, Yoon has struggled to push his agenda through an opposition-controlled parliament and grappled with low approval ratings amid scandals involving himself and his wife. In his martial law announcement on Tuesday night, Yoon called parliament a “den of criminals” bogging down state affairs and vowed to eliminate “shameless North Korea followers and anti-state forces.” The turmoil resulting from Yoon’s bizarre and poorly-thought-out stunt has paralyzed South Korean politics and sparked alarm among key diplomatic partners like the U.S. and Japan. “Yoon’s credibility overseas has been undermined by declaring martial law, so he won’t be able to exercise leadership in his foreign policies especially when his days are numbered,” Kim, the analyst, said. “Its government bureaucracy will need to continue business as usual for existing alliance and foreign policy initiatives as best it can because there is a lot of important work to do globally.” Tuesday night saw special forces troops encircling the parliament building and army helicopters hovering over it, but the military withdrew after the National Assembly unanimously voted to overturn the decree, forcing Yoon to lift it before daybreak Wednesday. The declaration of martial law was the first of its kind in more than 40 years in South Korea. Eighteen lawmakers from the ruling party voted to reject Yoon’s martial law decree along with opposition lawmakers. PPP later decided to oppose Yoon's impeachment motion. Yoon’s speech fueled speculation that he and his party may push for a constitutional amendment to shorten his term, instead of accepting impeachment, as a way to ease public anger over the marital law and facilitate Yoon’s early exit from office. Lee told reporters that Yoon’s speech was “greatly disappointing” and that the only way forward is his immediate resignation or impeachment. His party called Yoon’s martial law “unconstitutional, illegal rebellion or coup.” Lawmakers on Saturday first voted on a bill appointing a special prosecutor to investigate stock price manipulation allegations surrounding Yoon’s wife. Yoon accused of ordering arrests of politicians On Friday, PPP chair Han Dong-hun, who criticized Yoon’s martial law declaration, said he had received intelligence that during the brief period of martial law Yoon ordered the country’s defense counterintelligence commander to arrest unspecified key politicians based on accusations of “anti-state activities.” Hong Jang-won, first deputy director of South Korea’s spy agency, told lawmakers Friday that Yoon had ordered him to help the defense counterintelligence unit to detain key politicians including Han, Lee and Woo. The Defense Ministry said Friday it suspended three military commanders including the head of the defense counterintelligence unit over their involvement in enforcing martial law. Vice Defense Minister Kim Seon Ho has told parliament that Defense Minister Kim Yong Hyun ordered the deployment of troops to the National Assembly. Opposition parties accused Kim of recommending to Yoon to enforce martial law. Kim resigned Thursday, and prosecutors imposed an overseas travel ban on him. Kim Tong-hyung And Hyung-jin Kim, The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More World News An explosion has caused several injuries and damaged apartments in a Dutch city Dec 7, 2024 3:53 AM An explosion has caused several injuries and damaged apartments in the Dutch capital Dec 7, 2024 1:51 AM Polls open in general election in Ghana overshadowed by the worst economic crisis in a generation Dec 6, 2024 11:51 PM Featured FlyerNone
Syrian insurgents reach the capital's suburbs. Worried residents flee and stock up on supplies BEIRUT (AP) — Insurgents’ stunning march across Syria is gaining speed with news that they have reached the suburbs of the capital of Damascus. The government on Saturday was forced to deny rumors that President Bashar Assad had fled the country. The rebels’ moves around Damascus were reported by an opposition war monitor and a rebel commander. They came after the Syrian army withdrew from much of southern part of the country, leaving more areas, including two provincial capitals, under the control of opposition fighters. The advances in the past week were among the largest in recent years by opposition factions. The factions are by a group that has its origins in al-Qaida and is considered a terrorist organization by the U.S. and the United Nations. 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Most of Yoon's ruling party lawmakers boycotted a parliamentary vote Saturday to deny a two-thirds majority needed to suspend his presidential powers. The scrapping of the motion is expected to intensify protests calling for Yoon’s ouster and deepen political chaos in South Korea. A survey suggests a majority of South Koreans support the president’s impeachment. Yoon’s martial law declaration drew criticism from his own ruling conservative People Power Party. But the party also apparently fears losing the presidency to liberals. Days after gunman killed UnitedHealthcare's CEO, police push to ID him and FBI offers reward NEW YORK (AP) — Nearly four days after the shooting of UnitedHealthcare CEO Brian Thompson, police still do not know the gunman’s name or whereabouts or have a motive for the killing. 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By JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Democrats and business groups warn of risks from Trump’s tariff threats Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump’s first term tariffs had a modest impact on economy Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. Trump wants much more far-reaching tariffs going forward The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.Axon Enterprise CPO & CTO Jeffrey Kunins sells $1.73m in stock
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Residents of the city of Hama celebrate as armed groups fighting against the regime of Al-Assad enter the city. Photo: Getty Images Since the rebels' sweep into Aleppo a week ago, government defences have crumbled at dizzying speed as insurgents seized a string of major cities and rose up in places where the rebellion had long seemed over. The twin threats to strategically vital Homs and the capital Damascus now pose an existential danger to the Assad dynasty's five-decade reign over Syria and the continued influence there of its main regional backer Iran. A Homs resident, and army and rebel sources said the insurgents had breached government defences from the north and east of the city. A rebel commander said they had taken control of an army camp and villages outside the city. State television reported that the insurgents had not penetrated into Homs although it said they were on the city outskirts, where it said the military was striking them with artillery and drones. Insurgents have seized almost the entire southwest within 24 hours, and they have advanced to within 30 km (20 miles) of Damascus as government forces fell back, rebels said. Underscoring the possibility of an uprising in the capital, protesters took to the streets in several Damascus suburbs, ripping up Assad posters and tearing down a statue of his father, former President Hafez al-Assad, uncontested by army or police. Some were joined by soldiers who had changed into civilian clothes and deserted, residents said. However, the state news agency reported that Assad remains in Damascus and the military said it was reinforcing around the capital and south. The pace of events has stunned Arab capitals and raised fears of a new wave of regional instability. Syria's civil war, which erupted in 2011 as an uprising against Assad's rule, dragged in big outside powers, created space for jihadist militants to plot attacks around the world and sent millions of refugees into neighbouring states. Assad had long relied on allies to subdue the rebels, with bombing by Russian warplanes while Iran sent allied forces including Lebanon's Hezbollah and Iraqi militia to bolster the Syrian military and storm insurgent strongholds. But Russia has been focused on the war in Ukraine since 2022 and Hezbollah has suffered big losses in its own gruelling war with Israel, significantly limiting its ability or that of Iran to bolster Assad. US President-elect Donald Trump said the US should not be involved in the conflict and should "let it play out". RUSSIA, IRAN, TURKEY The foreign ministers of Russia, Iran and the main rebels' backer Turkey met on Saturday and agreed on the importance of Syria's territorial integrity and on restarting a political process, they said. But there was no indication they agreed on any concrete steps, with the situation inside Syria changing by the hour. Russia has a naval base and airbase in Syria that have not only been important for its support of Assad, but also for its ability to project influence in the Mediterranean and Africa. Moscow has been supporting government forces with intense air strikes but it was not clear if it could easily step up this campaign. Iran has said it would consider sending forces to Syria, but any immediate extra assistance would likely depend on Hezbollah and Iraqi militias. The Lebanese group sent some "supervising forces" to Homs on Friday but any significant deployment would risk exposure to Israeli airstrikes, Western officials said. Iran-backed Iraqi militias are on high alert, with thousands of heavily armed fighters ready to deploy to Syria, many of them amassed near the border. Iraq does not seek military intervention in Syria, a government spokesman said on Friday. Britain warned Assad that any chemical weapons use was a red line and would be met with "appropriate action". BATTLE FOR HOMS The Homs resident said he had seen the rebels advance past a Syrian Air Force base in the north of the city that was considered a major defensive area. The resident later said fighting was audible in the city outskirts. An opposition figure in touch with rebel command and a Syrian army source both also said the insurgents were inside the city. Seizing Homs, an important crossroads between the capital and the Mediterranean, would cut off Damascus from the coastal stronghold of Assad's minority Alawite sect, and from Russia's air and naval base. In the south, the rapid collapse of government control could allow a concerted assault on the capital, the seat of Assad's power, where residents said electricity cut out on Saturday. The Syrian military pulled back as far as Saasa 30 km (20 miles) from Damascus to regroup, a Syrian army officer said. Jarmana, where protesters pulled down a statue of Hafez al-Assad, is in the city's southern suburbs. Soldiers were deserting in the former rebel stronghold of Daraya and in Mezzeh, near a major airbase, residents said. The main rebel group, the Islamist Hayat Tahrir al-Sham, said it had a duty to protect governmental, international and U.N. offices in Syria. In a sign of government forces' collapse in the east, around 2,000 Syrian soldiers crossed the border into Iraq to seek sanctuary, the mayor of Iraqi border town al-Qaem said. Syrian Kurdish fighters had captured eastern Deir el-Zor on Friday, jeopardising Assad's land connection to allies in Iraq.