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2025-01-19
Bill Ackman, CEO of Pershing Square Capital Management, appeared Thursday morning on Squawk on the Street to talk about President-elect Donald Trump's high-profile visit to the New York Stock Exchange and his economic agenda, saying that the United States was set to usher in the most pro-growth, pro-business administration in his adult life. . @BillAckman on @CNBC : America is stepping into the most pro-growth, pro-business administration in my adult lifetime pic.twitter.com/8CTxs5Vly6 CARL QUINTANILLA: What do you make of today? BILL ACKMAN: It is a great day. The president is in great spirits and we are stepping into the most progrowth, pro-business, pro-American administration that I have seen in my adult lifetime, certainly. CARL QUINTANILLA: The President mentioned the word incentive. Upstairs, downstairs. How would you characterize corporate America's appetite for responding to those? BILL ACKMAN: We just had a nice little ceremony. The CEOs, a broad array of big American companies. I would say everyone is incredibly enthusiastic. Really about a new administration on efficiency, removing the impediments to growth and deregulation. A lot of the confidence that comes from that. DAVID FABER: I hear that as well, of course. The things that seem to concern some people are the unknown. Tariffs and deportation. Do you share that concern? What is your sense as to how that will go and the impact on inflation is obviously a key component. Potentially both are quite deep and severe. BILL ACKMAN: With respect to immigration, the President is very focused on the safety of the American people and having an open border and not vetting people coming not, not having criminals in the country, that’s a pro-economy move—to get rid of people causing harm. DAVID FABER: That’s 100,000 people, not 11 million, potentially. BILL ACKMAN: Unfortunately, I think it’s more than that. The overarching thing is President Trump will do nothing that interferes with the success of the country, the success of the economy . Other than national defense, that’s his number one issue. I think he’s being very thoughts about tariffs. It is a very powerful tool that can be used to level the playing field. He wants a level playing field. JIM CRAMER: What do we say to someone like Janet Yellen, the Secretary of Treasury, who says, we have to be very careful. Many things can go wrong with what he is talking about. I'm not hearing that from you, obviously. BILL ACKMAN : I would say I'm more optimistic about the economy and the country than I have been in a long time. JIM CRAMER: And you were very early on the bandwagon. Others were not. It seems to be a change of tune. BILL ACKMAN: I don’t know anyone opposed to the business plan of this next administration. And it is a bit of a self-fulfilling prophecy. At the backdrop is that you have a Fed lowering rates and inflation under control. You have the FTC, which will be more thoughtful about allowing transactions to happen. That is very bullish for markets. We talk about it all the time. We have the wealth effect. The biggest investment for most people today is the pension or the stock market-related portfolio. Housing prices going up. So, meaningful increases in asset values in a short period of time. That has a pro-economy effect. A lot of these are pro-secular in a positive way for the economy. I think it makes sense that he chose the spot to accept his Time Magazine cover. CARL QUINTANILLA: You can imagine one of the negative things to get written will be that this is optically about Wall Street and not Main Street . Although the president talked about that these are the companies that employ people and he wants people that want to go to work in the morning. BILL ACKMAN: I think most of the country understands that the more successful businesses are, the more the stock market goes up. And the more wages rise, the more job growth, and the more opportunity, and the more businesses that come to the country. It lifts all. I think the President got elected because of a large, wide base that includes low-income people in the country. That is what he feels a responsibility to. DAVID FABER: You are an investor. I'm curious, given your outlook broadly speaking, are there any sectors that you think will benefit in particular from the incoming administration? BILL ACKMAN: I think it is good for the economy. It is good for moderating inflation. It is good for the U.S. I had the chance to talk to Doug Burgum, the Secretary of the Interior. There are a lot of things we can do geopolitically . Being able to offer LNG to the Koreans, for example, something we haven’t been able to do. Very important for that small country that feels very vulnerable. These are things that we can do to improve relations and help us on trade. Howard Lutnick will be a strong advocate for promoting the United States and trade in a thoughtful way. CARL QUINTANILLA: The ECB cut 25 today. Lagarde said growth is slowing. Do you think Europe responds in a conciliatory way or is there a retaliatory way to their response? BILL ACKMAN: I think Europe is in a very vulnerable position. I think the economy generally, the United States, they need to have important, strong relationships with the United States. They have no choice. I think they will operate that way. I'm very bullish on America. I'm kind of bearish on Europe. And I think they need to make some fairly dramatic changes politically and otherwise. One of the more powerful charts, look at the market cap of companies, the number of companies above $500 billion or whatever here versus Europe.The Prime Minister insisted the UK will back Ukraine “for as long as it takes” as he made a speech at the Lord Mayor’s Banquet in London, but for the first time acknowledged the conflict could move towards a negotiated end. Ukrainian President Volodymyr Zelensky has in recent weeks suggested he is open to a possible ceasefire with Vladimir Putin’s Russia. Kyiv and its European allies meanwhile fear the advent of Donald Trump’s return to the White House could result in American aid being halted. President-elect Trump has said he would prefer to move towards a peace deal, and has claimed he could end the conflict on “day one” of his time in power. As he attempts to strike up a good relationship with the incoming president, Sir Keir revealed he had told Mr Trump the UK “will invest more deeply than ever in this transatlantic bond with our American friends in the years to come”. In his speech at London’s Guildhall, the Prime Minister said there is “no question it is right we support Ukraine”, as the UK’s aid to Kyiv is “deeply in our self-interest”. Allowing Russia to win the war would mean “other autocrats would believe they can follow Putin’s example,” he warned. Sir Keir added: “So we must continue to back Ukraine and do what it takes to support their self-defence for as long as it takes. “To put Ukraine in the strongest possible position for negotiations so they can secure a just and lasting peace on their terms that guarantees their security, independence, and right to choose their own future.” Mr Zelensky told Sky News over the weekend he would be open to speaking with Mr Putin, but branded the Russian president a “terrorist”. He also suggested Ukrainian territory under his control should be taken under the “Nato umbrella” to try to stop the “hot stage” of the war with Russia. In a banquet speech focused on foreign affairs, the Prime Minister said it was “plain wrong” to suggest the UK must choose between its allies, adding: “I reject it utterly. “(Clement) Attlee did not choose between allies. (Winston) Churchill did not choose. “The national interest demands that we work with both.” Sir Keir said the UK and the US were “intertwined” when it came to commerce, technology and security. The Prime Minister added: “That’s why, when President Trump graciously hosted me for dinner in Trump Tower, I told him that we will invest more deeply than ever in this transatlantic bond with our American friends in the years to come.” He also repeated his commitment to “rebuild our ties with Europe” and insisted he was right to try to build closer links with China. “It is remarkable that until I met President Xi last month there had been no face-to-face meeting between British and Chinese leaders for six years,” the Prime Minister said. “We can’t simply look the other way. We need to engage. To co-operate, to compete and to challenge on growth, on security concerns, on climate as well as addressing our differences in a full and frank way on issues like Hong Kong, human rights, and sanctions on our parliamentarians,” he added. The Prime Minister said he wants Britain’s role in the world to be that of “a constant and responsible actor in turbulent times”. He added: “To be the soundest ally and to be determined, always, in everything we do. “Every exchange we have with other nations, every agreement we enter into to deliver for the British people and show, beyond doubt, that Britain is back.” Ahead of Sir Keir’s speech, Lord Mayor Alastair King urged the Prime Minister and his Government to loosen regulations on the City of London to help it maintain its competitive edge. In an echo of Sir Keir’s commitment to drive the UK’s economic growth, the Lord Mayor said: “The idealist will dream of growth, but the pragmatist understands that our most effective machinery to drive growth is here in the City, in the hands of some of the brightest and most committed people that you will find anywhere in the world.”best streamers with dac

The Chairman, House of Representatives Committee on Digital, Information Communication Technology, and Cyber Security, Adedeji Dhikrullahi Olajide, on Friday described the media as a “vital institution capable of propelling Nigeria towards economic and social greatness.” Olajide said this while speaking at the conferment of an Award of Excellence in Digital Innovation and Technology Advocacy on him by the Oyo state Council of the Nigeria Union of Journalists (NUJ). The lawmaker representing Ibadan North-west and Ibadan South-west federal constituency of Oyo state in the House of Representatives, said the media “is an institution that stands for excellence and I believe it holds the key to driving economic development and transforming our nation.” “The media is an institution that stands for excellence and I believe it holds the key to driving economic development and transforming our nation. I urge the media to continue using its platform to promote policies and initiatives that foster growth and innovation,” he said. While expressing gratitude to the Oyo NUJ for the honour, he said the media “stands as a vital institution capable of propelling Nigeria towards economic and social greatness.” The lawmaker also lauded local government chairmen across Oyo state for their dedication to governance, noting that their efforts contributed significantly to grassroots development. “We may be of different party extractions, but I must acknowledge that the chairmen are doing well. Let us all serve with the fear of God at all times to ensure the welfare of the people,” he said. Speaking, the Oyo NUJ Chairman, Alhaji Ademola Babalola, praised Olajide’s contributions to the development of the technology sector, stating that the award was recognition of his significant impact. “Hon. Olajide has shown exemplary leadership in advancing digital innovation, and we are proud to honour him today,” he said.Rebranding and reality



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Major League Soccer's Vancouver Whitecaps today confirmed that the team is for sale. Majority owner Greg Kerfoot owns the team with Steve Luczo, Jeff Mallett, and Steve Nash. Kerfoot acquired the team in 2002 and then put together the ownership group in 2008. The four were awarded an MLS franchise the following year and saw the team play in North America's premier soccer league starting in 2011. "This decision comes after careful consideration of the club’s journey and reflection on what is required to ensure its continued growth and success,” the team said in a news release. The team added that the Whitecaps have grown to become "a staple of MLS, reaching seventh in league attendance, doubling season ticket memberships over the past two years, and qualifying for the MLS Cup Playoffs in three of the past four seasons." It added that the current ownership has built a solid foundation for the team and that "it is the right time for an owner with the platform, resources and ambition to enhance the club’s ability to compete at the highest levels of MLS and steward the club in realizing its significant potential." The league confirmed the news and praised the team's owners. “The Vancouver Whitecaps would not be where they are today without the vision and commitment of this exceptional ownership group,” said MLS commissioner Don Garber in a statement. “The Whitecaps are a terrific club in a world-class city. On behalf of everyone at Major League Soccer, I want to thank them for their tremendous contributions and look forward to working with them to identify new ownership for the club.” Kerfoot said today in a statement on behalf of the ownership group that it has been "committed to transforming our local soccer club into a significant contributor to our community.” He added, "It is gratifying to see how meaningful the Whitecaps have become to so many, and to have been able to contribute to the growth of a vibrant and thriving soccer community in Vancouver, the Lower Mainland, British Columbia, and beyond.” He thanked what he called "the passionate MLS supporters, academy development teams and players, the thousands of kids who attend camps, and the groups we support in nurturing the game in so many places have all proven out our belief in Vancouver as a first-class soccer market. The future of the Vancouver Whitecaps is bright.”CARSON, Calif. — The LA Galaxy and the New York Red Bulls have been Major League Soccer mainstays since the league's inaugural season in 1996, signing glamorous players and regularly competing for championships through years of success and setbacks in a league that's perpetually improving and expanding. Yet just a year ago, both of these clubs appeared to be a very long way from the stage they'll share Saturday in the MLS Cup Final. The Galaxy were one of MLS' worst teams after a season of internal turmoil and public fan dissent, while the Red Bulls were merely a steady mediocrity seeking yet another coach to chart a new direction. A year later, these MLS founders are meeting in the league's first Cup final between teams from North America's two biggest markets. "Two original clubs being able to put themselves in this situation, I think it's great," Galaxy coach Greg Vanney said. "To see two clubs that have been at it as long as this league has been around be here, I think it's a special moment. Couldn't be two more different and contrasting styles as well, which could make for an interesting game, and I would imagine a high-intensity game." Everything changed in 2024 after a dismal decade for the Galaxy, who are favored to cap their transformation by winning their team's record sixth MLS championship with a roster that's dramatically different from its past few groups — albeit with one massive injury absence in the final. The transformation of the Red Bulls happened only in the postseason, when a team that hadn't won a playoff game since 2017 suddenly turned into world-beaters under rookie coach Sandro Schwarz. New York struggled through the final three months of league play with only two wins before posting road playoff victories over defending champ Columbus, archrival New York City FC and conference finalist Orlando to storm into the Cup final. "We know about the history (of our club), and we know tomorrow will define what that could mean," Schwarz said Friday. "To feel the pressure for tomorrow, it's necessary, because it's a final, and without pressure it's not possible to bring the best quality on the field." The Red Bulls have never won an MLS Cup, only reaching the championship match once before. What's more, they've somehow never won a Cup in any tournament, although they've collected three Supporters' Shields for MLS' best regular-season record. The Galaxy's trophy case is large and loaded, and those five MLS Cups are on the top shelf. But not much of that team success happened in the past decade for the club that famously brought David Beckham, Zlatan Ibrahimovic, Robbie Keane, Steven Gerrard and many other international stars to Hollywood. In fact, this season has ended a grim era for the Galaxy, who haven't lost all year at their frequently renamed home stadium — which was the site of protests and boycotts just a year ago. The club's fans were tired of LA's steady underachievement and ineptitude in the front office run by team president Chris Klein, who was fired in May 2023. One year ago Thursday, the Galaxy hired Will Kuntz, a longtime Los Angeles FC executive who engineered his new club's roster transformation, most dramatically by landing new designated players Gabriel Pec and Joseph Paintsil — two international talents that LAFC also had in its sights. "I give Will and the group up there a ton of credit," Vanney said. "It's one thing to have players you like, and it's a whole other thing to get them here and get them to connect with your group." Pec and Paintsil combined for 32 goals and 27 assists while boosting the incumbent talents of striker Dejan Joveljic and Riqui Puig, the gifted Barcelona product who runs the offense from the midfield. The Galaxy clicked in the postseason, scoring a jaw-dropping 16 goals in four matches. Puig has been the Galaxy's most important player all season, but he won't be in the MLS Cup Final after tearing a knee ligament late in last week's conference final victory over Seattle. The loss of Puig — who somehow kept playing on his injured knee, and even delivered the game-winning pass to Joveljic — makes the Galaxy even more difficult to anticipate. "He played a lot in the regular season, so it was not so easy to analyze all these games now without him," Schwarz said. "But the main focus is to analyze what we need to do, because it's not clear now how they're playing without him." The Galaxy could give some of Puig's responsibilities to Marco Reus, the longtime Dortmund standout who joined LA in August. Reus is nursing a hamstring injury, but Vanney expects him to play. Get local news delivered to your inbox!

TikTok is inching closer to a potential ban in the US. So what's next?

California Gov. Gavin Newsom is encouraging constituents to buy electric vehicles by offering partial refunds in a new proposal. However, buyers of vehicles sold by Tesla Inc. will not be included in the proposal, an addition which prompted an indignant response from Tesla CEO Elon Musk. On Monday, Newsom shared plans to renew the expired Clean Vehicle Rebate Program provided that President-elect Donald Trump follows through on his previous promise to end federal electric vehicle tax credit, worth up to $7,500 for new zero-emission vehicles and $4,000 for some used ones. 42% of rebates went to Tesla owners when the program was previously enacted, before it was phased out in 2023. If Trump repeals a federal subsidy, Newsom intends to offer rebates to electric vehicle buyers. However, buyers of Tesla vehicles will be excluded from this program. Newsom stated that this was because of market share limitations, and the program would at least exclude Tesla's popular models, according to the East Bay Times . "It's about creating the market conditions for more of these car makers to take root," said the governor's office, whilst also noting that Tesla's omission from the program could change following negotiations. "Consumers continue to prove the skeptics wrong — zero-emission vehicles are here to stay," Newsom said in a statement . "We're not turning back on a clean transportation future — we're going to make it more affordable for people to drive vehicles that don't pollute." Musk took to X (formerly Twitter) to express his opinion on the California proposal, noting that Tesla vehicles would be excluded from it "even though Tesla is the only company who manufactures their EVs in California!" "This is insane," he continued. Musk, who has established himself as a strong supporter and close ally of President-elect Donald Trump, has previously stated that he is okay with the removal of federal subsidies. However, this proposal would exclude Tesla from an incentive program encouraging California residents to purchase more electric vehicles. "This is a slap in Tesla's face," said Gene Munster, managing partner of Deepwater Asset Management. Newsom also called for his state's legislature to convene in a special session on Monday in order to "Trump-proof" state laws and increase funding to the state attorney general's office. Trump took to social media to criticize Newsom, saying that he was "stopping all of the GREAT things that can be done to 'Make California Great Again.'" Originally published by Latin Times.

Making 2024 count economically

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Saturday Night Live has lined up its last trio of hosts for 2024. After a season full of nostalgic bits, political bites, and even some emotional moments, Season 50’s first stretch will conclude with three back-to-back-to-back episodes in December. Here’s what to know about how to tune in for the last three episodes of the year.0 Yes! Saturday Night Live is new this weekend, on Saturday (December 7), with Gladiator II star Paul Mescal hosting and Shaboozey as musical guest. This marks Shaboozey’s first stint on SNL . After this week’s episode, two more consecutive shows have been announced. On December 14, Chris Rock will host for the fourth time, with Gracie Abrams as the musical guest of the week, making her SNL debut in support of her new album The Secret of Us . Then, on December 21, for the holiday episode, Martin Short will host for the third time, and Hozier will take the stage as musical guest, his second stint on the show in support of his new album Unreal Unearth . Saturday Night Live airs on Saturday evenings at 11:30 p.m. ET on NBC. Episodes are also available to stream Peacock , which boasts a sprawling library of all 49 seasons. 'Saturday Night Live' 50th Anniversary Special: What to Know SNL kicked off its 50th season early in October. Here’s a list of the episodes so far. Season 50, Episode 1 (September 28, 2024): Jean Smart and Jelly Roll Season 50, Episode 2 (October 5, 2024): Nate Bargatze and Coldplay Season 50, Episode 3 (October 12, 2024): Ariana Grande and Stevie Nicks Season 50, Episode 4 (October 19, 2024): Michael Keaton and Billie Eilish Season 50, Episode 5 (November 2, 2024): John Mulaney and Chappell Roan Season 50, Episode 6 (November 9, 2024): Bill Burr and Mk.gee Season 50, Episode 7 (November 16, 2024): Charlie XCX The show will celebrate its 50th anniversary with an NBC special airing Sunday, February 16. Find out everything to know about that right here . More Headlines: Is ‘SNL’ New This Weekend? Here’s Everything to Know ‘The Price is Right’ Fans Want Change to Game After Contestant’s ‘Depressing’ Disaster 2025 Golden Globes: Ted Danson to Receive Carol Burnett Award — When & How to Watch ‘Wheel of Fortune’ Fans Demand Change After ‘Crazy’ Bonus Puzzle Pattern ‘Survivor’: Jeff Probst Breaks Down Every Detail of That New Weighted Timer


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