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Ted Cruz says he will "wait and see" what Trump does before deciding on running for president in 2024

Sen. Ted Cruz told a CPAC event in Texas that he is waiting for former President Donald Trump to make up his mind about the 2024 presidential race. Sen. Ted Cruz speaks at the Conservative Political Action Conference in Dallas, Texas, on August 5, 2022.Brandon Bell/Getty Images Ted Cruz said he will "wait and see" whether Donald Trump runs in 2024 before making any decisions on running himself. Cruz previously said that Trump deciding not to run would "significantly" clear out the field. Trump and Cruz fiercely clashed during the 2016 Republican primary campaign. Republican Sen. Ted Cruz says he will "wait and see" what former President Donald Trump does before deciding on whether to run for president again in 2024.Speaking to Fox News at a Conservative Political Action Conference event in Dallas, Texas, on Friday, Cruz said Trump is going to "decide on his own timeframe" whether he will seek the presidency for the third time.Cruz, who launched a failed bid in 2016, suggested he'd hold off until Trump announced his plans. "Everyone is going to wait and see what Donald Trump decides and make decisions from there," he said.When asked about his timeframe for deciding whether he'll put his name in the running for the Republican nominee, Cruz said his focus is now on the 2022 mid-terms."I'm spending practically every waking moment on the campaign trail, focusing on retaking the House and retaking the Senate," he told Fox News. "I think we're going to win both."In July, speaking to Fox News at the Turning Point USA conference in Tampa, Florida, Cruz said that Trump deciding not to run in 2024 would "significantly" clear out the field of potential candidates.Trump has not yet announced whether he'll run in 2024, but teasers have fueled speculation that he will.Last week, he said it would be "very hard for me not to run" against President Joe Biden in 2024. And in June, he said that he would be making an announcement about it in the "not too distant future." Cruz ran against Trump for the Republican nomination in 2016, and the two politicians clashed during the primary campaign.Trump called Cruz's wife "ugly," baselessly claimed Cruz's father was involved in a plot to assassinate President John F. Kennedy and nicknamed him "Lyin' Ted Cruz."  In turn, Cruz called Trump, a "pathological liar."They have since patched things up, according to a new book by Paul Manafort. An extract obtained by the Guardian said that Trump apologized for insulting Cruz and his family. And in recent years, Cruz has become a loyal ally to the former president.Read the original article on Business Insider.....»»

Category: personnelSource: nytAug 6th, 2022

Tyre Nichols live updates: Parents of Tyre Nichols invited to State of the Union address after public outcry following his death

The Memphis Police Department released disturbing footage on Friday showing the brutal beating of Tyre Nichols, and people protested across the US. People in Memphis gather on January 28, 2023, to protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio-Egresitz/Insider Memphis police released footage of five officers beating Tyre Nichols, who died three days later. Demonstrators gathered in Memphis on Friday evening, chanting "no justice, no peace." Protests resumed Saturday, and a city councilman urged people not to give up until there's change. Content note: This story describes police brutality and death and contains graphic videos.Parents of Tyre Nichols invited to State of the Union address after public outcry following his deathRowVaughn Wells, mother of Tyre Nichols, who died after being beaten by Memphis police officers, is comforted at a news conference with civil rights Attorney Ben Crump in Memphis, Tenn., Friday, Jan. 27, 2023.AP Photo/Gerald HerbertThe parents of Tyre Nichols, who died earlier this month after being beaten by Memphis police officers, have been invited to next week's State of the Union address.Rep. Steven Horsford of Nevada, the chair of the Congressional Black Caucus, extended the invitation to Nichols' grieving parents. In an appearance PoliticsNation on MSNBC, Horsford said he spoke with the man's family "to first extend our condolences to them, to let them know that we stand with them, to ask them what they want from us in this moment."Read Full StoryGOP Rep. Jim Jordan condemned the death of Tyre Nichols but also said there aren't 'enough good people' seeking to become police officers due to the 'disparagement' of law enforcementPeople protest in Memphis following the release of video showing the deadly encounter between police and Tyre NicholsShameka Wilson for InsiderRep. Jim Jordan of Ohio on Sunday that there aren't "enough good people" seeking to become police officers due to the effects of the "defund the police" movement, which he blames for smearing law enforcement officials across the country.Jordan, the Republican chairman of the House Judiciary Committee, made the comments on NBC's "Meet the Press" while discussing the death of Tyre Nichols, who was brutally beaten by five police officers in Memphis, Tenn., earlier this month."We're not getting enough good people applying because of the disparagement on police officers. They don't get enough people applying, taking the test to enter the academy to be an officer because there's been this defund the police concept out there," he said on the NBC News program."There's been this attack on law enforcement, and you're not getting the best of the best," he added.Read Full StoryThe daughter of Eric Garner, who was fatally choked by an NYPD officer in 2014, says the Tyre Nichols footage was treated like 'a public lynching'Emerald Garner, Eric Garner's daughter.(Photo by Andrew Burton/Getty Images)The daughter of Eric Garner, who an NYPD officer fatally choked in 2014, spoke out about the footage of Tyre Nichols' arrest, and sharply criticized how authorities handled the release. "The fact that we waited for this video to be released like it was an exclusive movie that needed to be premiered on a certain day, it really boils my blood," Emerald Garner told NewsNation on Friday. "It's just heart-wrenching."She told the outlet that it was a grim reminder of the fatal encounter her father had with Daniel Pantaleo, the former NYPD officer who put her father in a chokehold during an attempted arrest caught on cellphone video."It's a replay of what happened eight years ago, almost nine.... to my father," she said. "It's ridiculous."Read Full StoryMemphis Police Department says it will 'permanently deactivate' the SCORPION unit whose officers beat Tyre NicholsMemphis police officers Demetrius Haley, Tadarrius Bean, Justin Smith, Emmitt Martin., and Desmond Mills Jr. are now facing murder charges.Memphis Police DepartmentThe Memphis Police Department will 'permanently deactivate' its SCORPION Unit, the department announced Saturday, as protesters gathered for a second night of demonstrations over the killing of Tyre Nichols by five of the team's officers.The city had already announced it would hire an outside firm to investigate the unit, which was launched in 2021 and stands for Street Crimes Operation to Restore Peace In Our Neighborhoods.Read Full StorySaturday's protest kicked off despite rain.People in Memphis gather on January 28, 2023, to protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio-Egresitz/InsiderMEMPHIS, Tennessee — Protesters are back in the streets Saturday evening. It's lightly raining outside city hall."We demand that each and every officer, every sheriffs officer, every EMT, be immediately fired," Memphis city council member JB Smiley Jr. told the crowd.Protesters are angry today that the mayor didn't agree to meet their demands in a call that was made from the bridge last night. They are expressing dismay, after watching the video, that there were eight people in the video and they don't know the names of the other three. Five officers have been charged with second-degree murder.Smiley is opening the protest tonight, urging people to show up to city council meetings and not give up until there's change: "As we say in Memphis, pull up."People on bikes and skateboards cruised down Manhattan streets, protesting against police brutality and celebrating Nichols' love of skating.—Scott Heins (@scottheins) January 28, 2023 Tyre Nichols' mom was mere blocks away when Memphis cops beat her son, and said she felt a pain in her gut when it happenedRowVaughn Wells is comforted at a news conference with civil rights Attorney Ben Crump in Memphis, Tenn., Friday, Jan. 27, 2023.AP Photo/Gerald HerbertMEMPHIS, Tenn — Every Saturday night, RowVaughn Wells would cook dinner for her husband and son. They would eat together.But on the evening of January 7, the Memphis mother had a strange pain in her stomach and didn't know why.It wasn't until hours later that she would learn that that pain coincided with some of what she now believes her son Tyre was experiencing mere blocks away."For me to find out that my son was calling my name, and I was only feet away, and I did not even hear him; you have no clue how I feel right now," Wells said on Friday.READ FULL STORYCivil rights attorney Ben Crump shared a video of Tyre Nichols' parents talking to President Joe BidenCrump tweeted that they "bonded over the love they share for their children."Nichols' mother, RowVaughn Wells, told Biden that her son had her name tattooed on his arm."If I could give you a piece of advice," Biden told them, "if things get really rough, don't be afraid to ask for help. This is like if you were in a battlefield and something happened. It's called post-traumatic stress."—Ben Crump (@AttorneyCrump) January 28, 2023The Memphis Police Department's original report on Tyre Nichols death is full of discrepancies and outright omissions, newly released bodycam footage showsThe image from video released on Jan. 27, 2023, by the City of Memphis, shows police officers talking after a brutal attack on Tyre Nichols by five Memphis police officers on Jan. 7, 2023.City of Memphis via APOn January 8, the Memphis Police Department released a statement describing a "confrontation" with an alleged reckless driver, later identified as Tyre Nichols. But bodycam footage of the incident, released Friday, revealed a different story of the brutal beating that left the 29-year-old dead."On January 7, 2023, at approximately 8:30pm, officers in the area of Raines Road and Ross Road attempted to make a traffic stop for reckless driving," The original Memphis Police Department statement read. "As officers approached the driver of the vehicle, a confrontation occurred, and the suspect fled the scene on foot."Read Full StoryActivists are spreading carefree videos of Tyre Nichols skateboarding to remember him as someone who 'lived in joy'A woman leaves a flower during a vigil on the day of the release of a video showing the Memphis police beating of Tyre Nichols.Brian Snyder/ReutersTyre Nichols was a gentle skateboarder who loved his family and photography. And his friends, family, and activists protesting his death want to remember him that way. A video compilation of the 29-year-old grinding rails and catching air in Sacramento, California is being shared across social media to commemorate his life.Camara Williams, a podcaster, attorney, and community organizer who advocates for abolishing the police, tweeted the video on Friday, telling Insider the video showed "he was a person who lived in life and lived in joy." Read Full StoryLegal experts agree: The videos show a complete 'breakdown' in police protocolsStill from Memphis Police body cam footage of Tyre Nichols beating.Memphis Police"What I saw was certainly police misconduct," Joshua Ritter, a Los Angeles criminal defense attorney, former prosecutor, and partner with El Dabe Ritter Trial Lawyers, told Insider of the footage. "What I saw is never the way that five fully trained officers should try to detain a person."Neama Rahmani, president of West Coast Trial Lawyers and a former federal prosecutor, said there was "no question in my mind that murder charges are appropriate.""I've prosecuted police officers. I've seen police officers imprisoned. I've seen a lot," he said. "This is probably one of the worst things I've ever seen."Read Full StoryMemphis councilman breaks down in tears over bodycam footage—Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) January 28, 2023In an emotional interview with CNN's Don Lemon, Memphis City Council chairman Martavius Jones broke down in tears over the death of 29-year-old Tyre Nichols, saying "this wasn't supposed to happen.""Don, we have to do something," Jones told Lemon in the clip, which has since gone viral on social media. "Not that we were immune to anything, but this wasn't supposed to happen in our community. This was a traffic stop, it wasn't supposed to end like this."Read Full Story2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released—ShelbyTNSheriff (@ShelbyTNSheriff) January 28, 2023 Two deputies with the Shelby County Sheriff's office were relieved of duty pending an investigation, Sheriff Floyd Bonner, Jr. said in a Friday night statement."Having watched the videotape for the first time tonight, I have concerns about two deputies who appeared on the scene following the physical confrontation between police and Tyre Nichols," the statement reads. "I have launched an internal investigation into the conduct of these deputies to determine what occurred and if any policies were violated."On Friday evening, officials in Memphis, Tennessee, released the video footage of Memphis Police Officers beating Nichols after a January 7, 2023, traffic stop. Nichols died several days later of his injuries.Five now-former Memphis Police Officers have been charged with second-degree murder.Protesters in New York gathered in Times Square and other parts of the city to protest the death of Tyre NicholsPeople in New York take part in a protest on January 27, 2023, the day of the release of a video showing police officers beating Tyre Nichols.REUTERS/Andrew KellyProtesters gathered in New York City in Times Square and other locations on Friday night to protest the death of Tyre Nichols, a 29-year-old Black man. A handful of arrests were made, per NYPD, but the full number would not be available until the morning.Nichols died several days after being beaten by police in Memphis, Tennessee, during a January 7, 2023, traffic stop. Camera footage of the deadly police beating was released by Memphis on Friday evening at 7 p.m. ET. Protesters say they have demands for Memphis Mayor Jim StricklandProtesters in Memphis, Tennessee calling for reform after police officers beat Tyre Nichols, who died days later.Haven Orecchio/InisderMEMPHIS, Tennessee — Protesters told Insider's Haven Orecchio that they called Mayor Jim Strickland with demands and will not leave the Memphis and Arkansas Bridge, where the protesters have congregated, until he returns their call.The demands include but are not limited to passing the Data Transparency Ordinance at the city and county levels, tracking law enforcement data, ending the use of unmarked cars and plainclothes officers, and dissolving the SCORPION unit along with other task forces.Biden 'outraged' after release of 'horrific' videos showing Memphis police officers beating Tyre NicholsPresident Joe Biden speaks at the White House on January 12, 2023.AP Photo/Andrew HarnikPresident Joe Biden spoke out on Friday moments after the release of several videos showing police officers brutally beating Tyre Nichols.On Friday, The City of Memphis released four separate videos related to events surrounding the arrest and beating of Nichols.Biden said in a statement that he was "outraged" by what he saw. "Like so many, I was outraged and deeply pained to see the horrific video of the beating that resulted in Tyre Nichols' death," Biden said. "It is yet another painful reminder of the profound fear and trauma, the pain, and the exhaustion that Black and Brown Americans experience every single day."Read Full Story'It could have been me' a truck driver tells InsiderMEMPHIS, Tennessee — Speaking from the driver's seat of an 18-wheeler trying to merge onto I-55, truck driver Mark told insider he was running out of fuel.He didn't know that he'd run into the protest. If he did, he said, he would have left later.As a Black man, he said he doesn't fault the protestors and would "possibly" be out with them if he was from here. He's on his way to Oklahoma with 1,400 miles left."It could have been me," he told Insider. "It's not the first and it won't be the last."Tyre Nichols video: Body cam footage showing brutal police beating by 5 Memphis police officers releasedA portrait of Tyre Nichols is displayed at a memorial service for him on Tuesday, Jan. 17, 2023 in Memphis, Tenn.Adrian Sainz/AP PhotoMEMPHIS, Tennessee — The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols.The violent footage, from police body cameras and stationary cameras, was released on the department's Vimeo page."You guys are really doing a lot right now," Nichols is heard saying to the officers at the start of the videos, which were released in four parts. "I'm just trying to go home."The beating occurred during a traffic stop in Memphis' Hickory Hill neighborhood on January 7. Nichols, who was 29, died of his injuries three days later. Authorities said Nichols had been stopped by the officers and accused of reckless driving, but Memphis Police Chief Cerelyn J. Davis has since said the department has not found proof to substantiate the reckless driving allegation.Memphis officials and others with access to the video had warned the public of the gruesome nature of the footage in advance of its release on Friday. READ FULL STORYProtesters gathered in Memphis ahead of the video release saying they didn't need to see the footage because they knew 'it was murder'People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, InsiderMEMPHIS, Tennessee — Protesters gathered at Martyrs Park in Memphis, Tennessee, around 6 p.m. local time on Friday evening as the city braced for the release of graphic body camera footage that shows several police officers fatally beating Tyre Nichols.Demonstrators said they didn't need to wait for the video — they already knew Nichols' death was murder.Five officers have been charged with second-degree murder.Approximately hundreds of protesters blocked a long line of 18-wheelers on Old Bridge, chanting "You take our lives, we'll take your money" and "no justice, no peace.Sherri, a Memphis native, told Insider her 28-year-old Black son moved to Germany, and she's glad he's out of the country and away from cops in Memphis. She said she was pulled over on Thursday night and was nervous.When an officer asked her why she was anxious, she responded: "Not all interactions end this way." Read the original article on Business Insider.....»»

Category: topSource: businessinsider17 hr. 27 min. ago

Tyre Nichols live updates: Memphis Police Department says it will "permanently deactivate" the SCORPION unit whose officers beat Tyre Nichols

The Memphis Police Department released disturbing footage on Friday showing the brutal beating of Tyre Nichols, and people protested across the US. People in Memphis gather on January 28, 2023, to protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio-Egresitz/Insider Memphis police released footage of five officers beating Tyre Nichols, who died three days later. Demonstrators gathered in Memphis on Friday evening, chanting "no justice, no peace." Protests resumed Saturday, and a city councilman urged people not to give up until there's change. Content note: This story describes police brutality and death and contains graphic videos.Memphis Police Department says it will 'permanently deactivate' the SCORPION unit whose officers beat Tyre NicholsMemphis police officers Demetrius Haley, Tadarrius Bean, Justin Smith, Emmitt Martin., and Desmond Mills Jr. are now facing murder charges.Memphis Police DepartmentThe Memphis Police Department will 'permanently deactivate' its SCORPION Unit, the department announced Saturday, as protesters gathered for a second night of demonstrations over the killing of Tyre Nichols by five of the team's officers.The city had already announced it would hire an outside firm to investigate the unit, which was launched in 2021 and stands for Street Crimes Operation to Restore Peace In Our Neighborhoods.Read Full StorySaturday's protest kicked off despite rain.People in Memphis gather on January 28, 2023, to protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio-Egresitz/InsiderMEMPHIS, Tennessee — Protesters are back in the streets Saturday evening. It's lightly raining outside city hall."We demand that each and every officer, every sheriffs officer, every EMT, be immediately fired," Memphis city council member JB Smiley Jr. told the crowd.Protesters are angry today that the mayor didn't agree to meet their demands in a call that was made from the bridge last night. They are expressing dismay, after watching the video, that there were eight people in the video and they don't know the names of the other three. Five officers have been charged with second-degree murder.Smiley is opening the protest tonight, urging people to show up to city council meetings and not give up until there's change: "As we say in Memphis, pull up."People on bikes and skateboards cruised down Manhattan streets, protesting against police brutality and celebrating Nichols' love of skating.—Scott Heins (@scottheins) January 28, 2023 Tyre Nichols' mom was mere blocks away when Memphis cops beat her son, and said she felt a pain in her gut when it happenedRowVaughn Wells is comforted at a news conference with civil rights Attorney Ben Crump in Memphis, Tenn., Friday, Jan. 27, 2023.AP Photo/Gerald HerbertMEMPHIS, Tenn — Every Saturday night, RowVaughn Wells would cook dinner for her husband and son. They would eat together.But on the evening of January 7, the Memphis mother had a strange pain in her stomach and didn't know why.It wasn't until hours later that she would learn that that pain coincided with some of what she now believes her son Tyre was experiencing mere blocks away."For me to find out that my son was calling my name, and I was only feet away, and I did not even hear him; you have no clue how I feel right now," Wells said on Friday.READ FULL STORYCivil rights attorney Ben Crump shared a video of Tyre Nichols' parents talking to President Joe BidenCrump tweeted that they "bonded over the love they share for their children."Nichols' mother, RowVaughn Wells, told Biden that her son had her name tattooed on his arm."If I could give you a piece of advice," Biden told them, "if things get really rough, don't be afraid to ask for help. This is like if you were in a battlefield and something happened. It's called post-traumatic stress."—Ben Crump (@AttorneyCrump) January 28, 2023The Memphis Police Department's original report on Tyre Nichols death is full of discrepancies and outright omissions, newly released bodycam footage showsThe image from video released on Jan. 27, 2023, by the City of Memphis, shows police officers talking after a brutal attack on Tyre Nichols by five Memphis police officers on Jan. 7, 2023.City of Memphis via APOn January 8, the Memphis Police Department released a statement describing a "confrontation" with an alleged reckless driver, later identified as Tyre Nichols. But bodycam footage of the incident, released Friday, revealed a different story of the brutal beating that left the 29-year-old dead."On January 7, 2023, at approximately 8:30pm, officers in the area of Raines Road and Ross Road attempted to make a traffic stop for reckless driving," The original Memphis Police Department statement read. "As officers approached the driver of the vehicle, a confrontation occurred, and the suspect fled the scene on foot."Read Full StoryActivists are spreading carefree videos of Tyre Nichols skateboarding to remember him as someone who 'lived in joy'A woman leaves a flower during a vigil on the day of the release of a video showing the Memphis police beating of Tyre Nichols.Brian Snyder/ReutersTyre Nichols was a gentle skateboarder who loved his family and photography. And his friends, family, and activists protesting his death want to remember him that way. A video compilation of the 29-year-old grinding rails and catching air in Sacramento, California is being shared across social media to commemorate his life.Camara Williams, a podcaster, attorney, and community organizer who advocates for abolishing the police, tweeted the video on Friday, telling Insider the video showed "he was a person who lived in life and lived in joy." Read Full StoryLegal experts agree: The videos show a complete 'breakdown' in police protocolsStill from Memphis Police body cam footage of Tyre Nichols beating.Memphis Police"What I saw was certainly police misconduct," Joshua Ritter, a Los Angeles criminal defense attorney, former prosecutor, and partner with El Dabe Ritter Trial Lawyers, told Insider of the footage. "What I saw is never the way that five fully trained officers should try to detain a person."Neama Rahmani, president of West Coast Trial Lawyers and a former federal prosecutor, said there was "no question in my mind that murder charges are appropriate.""I've prosecuted police officers. I've seen police officers imprisoned. I've seen a lot," he said. "This is probably one of the worst things I've ever seen."Read Full StoryMemphis councilman breaks down in tears over bodycam footage—Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) January 28, 2023In an emotional interview with CNN's Don Lemon, Memphis City Council chairman Martavius Jones broke down in tears over the death of 29-year-old Tyre Nichols, saying "this wasn't supposed to happen.""Don, we have to do something," Jones told Lemon in the clip, which has since gone viral on social media. "Not that we were immune to anything, but this wasn't supposed to happen in our community. This was a traffic stop, it wasn't supposed to end like this."Read Full Story2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released—ShelbyTNSheriff (@ShelbyTNSheriff) January 28, 2023 Two deputies with the Shelby County Sheriff's office were relieved of duty pending an investigation, Sheriff Floyd Bonner, Jr. said in a Friday night statement."Having watched the videotape for the first time tonight, I have concerns about two deputies who appeared on the scene following the physical confrontation between police and Tyre Nichols," the statement reads. "I have launched an internal investigation into the conduct of these deputies to determine what occurred and if any policies were violated."On Friday evening, officials in Memphis, Tennessee, released the video footage of Memphis Police Officers beating Nichols after a January 7, 2023, traffic stop. Nichols died several days later of his injuries.Five now-former Memphis Police Officers have been charged with second-degree murder.Protesters in New York gathered in Times Square and other parts of the city to protest the death of Tyre NicholsPeople in New York take part in a protest on January 27, 2023, the day of the release of a video showing police officers beating Tyre Nichols.REUTERS/Andrew KellyProtesters gathered in New York City in Times Square and other locations on Friday night to protest the death of Tyre Nichols, a 29-year-old Black man. A handful of arrests were made, per NYPD, but the full number would not be available until the morning.Nichols died several days after being beaten by police in Memphis, Tennessee, during a January 7, 2023, traffic stop. Camera footage of the deadly police beating was released by Memphis on Friday evening at 7 p.m. ET. Protesters say they have demands for Memphis Mayor Jim StricklandProtesters in Memphis, Tennessee calling for reform after police officers beat Tyre Nichols, who died days later.Haven Orecchio/InisderMEMPHIS, Tennessee — Protesters told Insider's Haven Orecchio that they called Mayor Jim Strickland with demands and will not leave the Memphis and Arkansas Bridge, where the protesters have congregated, until he returns their call.The demands include but are not limited to passing the Data Transparency Ordinance at the city and county levels, tracking law enforcement data, ending the use of unmarked cars and plainclothes officers, and dissolving the SCORPION unit along with other task forces.Biden 'outraged' after release of 'horrific' videos showing Memphis police officers beating Tyre NicholsPresident Joe Biden speaks at the White House on January 12, 2023.AP Photo/Andrew HarnikPresident Joe Biden spoke out on Friday moments after the release of several videos showing police officers brutally beating Tyre Nichols.On Friday, The City of Memphis released four separate videos related to events surrounding the arrest and beating of Nichols.Biden said in a statement that he was "outraged" by what he saw. "Like so many, I was outraged and deeply pained to see the horrific video of the beating that resulted in Tyre Nichols' death," Biden said. "It is yet another painful reminder of the profound fear and trauma, the pain, and the exhaustion that Black and Brown Americans experience every single day."Read Full Story'It could have been me' a truck driver tells InsiderMEMPHIS, Tennessee — Speaking from the driver's seat of an 18-wheeler trying to merge onto I-55, truck driver Mark told insider he was running out of fuel.He didn't know that he'd run into the protest. If he did, he said, he would have left later.As a Black man, he said he doesn't fault the protestors and would "possibly" be out with them if he was from here. He's on his way to Oklahoma with 1,400 miles left."It could have been me," he told Insider. "It's not the first and it won't be the last."Tyre Nichols video: Body cam footage showing brutal police beating by 5 Memphis police officers releasedA portrait of Tyre Nichols is displayed at a memorial service for him on Tuesday, Jan. 17, 2023 in Memphis, Tenn.Adrian Sainz/AP PhotoMEMPHIS, Tennessee — The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols.The violent footage, from police body cameras and stationary cameras, was released on the department's Vimeo page."You guys are really doing a lot right now," Nichols is heard saying to the officers at the start of the videos, which were released in four parts. "I'm just trying to go home."The beating occurred during a traffic stop in Memphis' Hickory Hill neighborhood on January 7. Nichols, who was 29, died of his injuries three days later. Authorities said Nichols had been stopped by the officers and accused of reckless driving, but Memphis Police Chief Cerelyn J. Davis has since said the department has not found proof to substantiate the reckless driving allegation.Memphis officials and others with access to the video had warned the public of the gruesome nature of the footage in advance of its release on Friday. READ FULL STORYProtesters gathered in Memphis ahead of the video release saying they didn't need to see the footage because they knew 'it was murder'People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, InsiderMEMPHIS, Tennessee — Protesters gathered at Martyrs Park in Memphis, Tennessee, around 6 p.m. local time on Friday evening as the city braced for the release of graphic body camera footage that shows several police officers fatally beating Tyre Nichols.Demonstrators said they didn't need to wait for the video — they already knew Nichols' death was murder.Five officers have been charged with second-degree murder.Approximately hundreds of protesters blocked a long line of 18-wheelers on Old Bridge, chanting "You take our lives, we'll take your money" and "no justice, no peace.Sherri, a Memphis native, told Insider her 28-year-old Black son moved to Germany, and she's glad he's out of the country and away from cops in Memphis. She said she was pulled over on Thursday night and was nervous.When an officer asked her why she was anxious, she responded: "Not all interactions end this way." Read the original article on Business Insider.....»»

Category: smallbizSource: nytJan 29th, 2023

Tyre Nichols live updates: Memphis and other cities enter 2nd night of protest after violent body cam videos were released

The Memphis Police Department released disturbing footage on Friday showing the brutal beating of Tyre Nichols, and people protested across the US. People in Memphis gather on January 28, 2023, to protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio-Egresitz/Insider Memphis police released footage of five officers beating Tyre Nichols, who died three days later. Demonstrators gathered in Memphis on Friday evening, chanting "no justice, no peace." Protests resumed Saturday, and a city councilman urged people not to give up until there's change. Content note: This story describes police brutality and death and contains graphic videos.Saturday's protest kicked off despite rain.People in Memphis gather on January 28, 2023, to protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio-Egresitz/InsiderMEMPHIS, Tennessee — Protesters are back in the streets Saturday evening. It's lightly raining outside city hall."We demand that each and every officer, every sheriffs officer, every EMT, be immediately fired," Memphis city council member JB Smiley Jr. told the crowd.Protesters are angry today that the mayor didn't agree to meet their demands in a call that was made from the bridge last night. They are expressing dismay, after watching the video, that there were eight people in the video and they don't know the names of the other three. Five officers have been charged with second-degree murder.Smiley is opening the protest tonight, urging people to show up to city council meetings and not give up until there's change: "As we say in Memphis, pull up."People on bikes and skateboards cruised down Manhattan streets, protesting against police brutality and celebrating Nichols' love of skating.—Scott Heins (@scottheins) January 28, 2023 Tyre Nichols' mom was mere blocks away when Memphis cops beat her son, and said she felt a pain in her gut when it happenedRowVaughn Wells is comforted at a news conference with civil rights Attorney Ben Crump in Memphis, Tenn., Friday, Jan. 27, 2023.AP Photo/Gerald HerbertMEMPHIS, Tenn — Every Saturday night, RowVaughn Wells would cook dinner for her husband and son. They would eat together.But on the evening of January 7, the Memphis mother had a strange pain in her stomach and didn't know why.It wasn't until hours later that she would learn that that pain coincided with some of what she now believes her son Tyre was experiencing mere blocks away."For me to find out that my son was calling my name, and I was only feet away, and I did not even hear him; you have no clue how I feel right now," Wells said on Friday.READ FULL STORYCivil rights attorney Ben Crump shared a video of Tyre Nichols' parents talking to President Joe BidenCrump tweeted that they "bonded over the love they share for their children."Nichols' mother, RowVaughn Wells, told Biden that her son had her name tattooed on his arm."If I could give you a piece of advice," Biden told them, "if things get really rough, don't be afraid to ask for help. This is like if you were in a battlefield and something happened. It's called post-traumatic stress."—Ben Crump (@AttorneyCrump) January 28, 2023The Memphis Police Department's original report on Tyre Nichols death is full of discrepancies and outright omissions, newly released bodycam footage showsThe image from video released on Jan. 27, 2023, by the City of Memphis, shows police officers talking after a brutal attack on Tyre Nichols by five Memphis police officers on Jan. 7, 2023.City of Memphis via APOn January 8, the Memphis Police Department released a statement describing a "confrontation" with an alleged reckless driver, later identified as Tyre Nichols. But bodycam footage of the incident, released Friday, revealed a different story of the brutal beating that left the 29-year-old dead."On January 7, 2023, at approximately 8:30pm, officers in the area of Raines Road and Ross Road attempted to make a traffic stop for reckless driving," The original Memphis Police Department statement read. "As officers approached the driver of the vehicle, a confrontation occurred, and the suspect fled the scene on foot."Read Full StoryActivists are spreading carefree videos of Tyre Nichols skateboarding to remember him as someone who 'lived in joy'A woman leaves a flower during a vigil on the day of the release of a video showing the Memphis police beating of Tyre Nichols.Brian Snyder/ReutersTyre Nichols was a gentle skateboarder who loved his family and photography. And his friends, family, and activists protesting his death want to remember him that way. A video compilation of the 29-year-old grinding rails and catching air in Sacramento, California is being shared across social media to commemorate his life.Camara Williams, a podcaster, attorney, and community organizer who advocates for abolishing the police, tweeted the video on Friday, telling Insider the video showed "he was a person who lived in life and lived in joy." Read Full StoryLegal experts agree: The videos show a complete 'breakdown' in police protocolsStill from Memphis Police body cam footage of Tyre Nichols beating.Memphis Police"What I saw was certainly police misconduct," Joshua Ritter, a Los Angeles criminal defense attorney, former prosecutor, and partner with El Dabe Ritter Trial Lawyers, told Insider of the footage. "What I saw is never the way that five fully trained officers should try to detain a person."Neama Rahmani, president of West Coast Trial Lawyers and a former federal prosecutor, said there was "no question in my mind that murder charges are appropriate.""I've prosecuted police officers. I've seen police officers imprisoned. I've seen a lot," he said. "This is probably one of the worst things I've ever seen."Read Full StoryMemphis councilman breaks down in tears over bodycam footage—Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) January 28, 2023In an emotional interview with CNN's Don Lemon, Memphis City Council chairman Martavius Jones broke down in tears over the death of 29-year-old Tyre Nichols, saying "this wasn't supposed to happen.""Don, we have to do something," Jones told Lemon in the clip, which has since gone viral on social media. "Not that we were immune to anything, but this wasn't supposed to happen in our community. This was a traffic stop, it wasn't supposed to end like this."Read Full Story2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released—ShelbyTNSheriff (@ShelbyTNSheriff) January 28, 2023 Two deputies with the Shelby County Sheriff's office were relieved of duty pending an investigation, Sheriff Floyd Bonner, Jr. said in a Friday night statement."Having watched the videotape for the first time tonight, I have concerns about two deputies who appeared on the scene following the physical confrontation between police and Tyre Nichols," the statement reads. "I have launched an internal investigation into the conduct of these deputies to determine what occurred and if any policies were violated."On Friday evening, officials in Memphis, Tennessee, released the video footage of Memphis Police Officers beating Nichols after a January 7, 2023, traffic stop. Nichols died several days later of his injuries.Five now-former Memphis Police Officers have been charged with second-degree murder.Protesters in New York gathered in Times Square and other parts of the city to protest the death of Tyre NicholsPeople in New York take part in a protest on January 27, 2023, the day of the release of a video showing police officers beating Tyre Nichols.REUTERS/Andrew KellyProtesters gathered in New York City in Times Square and other locations on Friday night to protest the death of Tyre Nichols, a 29-year-old Black man. A handful of arrests were made, per NYPD, but the full number would not be available until the morning.Nichols died several days after being beaten by police in Memphis, Tennessee, during a January 7, 2023, traffic stop. Camera footage of the deadly police beating was released by Memphis on Friday evening at 7 p.m. ET. Protesters say they have demands for Memphis Mayor Jim StricklandProtesters in Memphis, Tennessee calling for reform after police officers beat Tyre Nichols, who died days later.Haven Orecchio/InisderMEMPHIS, Tennessee — Protesters told Insider's Haven Orecchio that they called Mayor Jim Strickland with demands and will not leave the Memphis and Arkansas Bridge, where the protesters have congregated, until he returns their call.The demands include but are not limited to passing the Data Transparency Ordinance at the city and county levels, tracking law enforcement data, ending the use of unmarked cars and plainclothes officers, and dissolving the SCORPION unit along with other task forces.Biden 'outraged' after release of 'horrific' videos showing Memphis police officers beating Tyre NicholsPresident Joe Biden speaks at the White House on January 12, 2023.AP Photo/Andrew HarnikPresident Joe Biden spoke out on Friday moments after the release of several videos showing police officers brutally beating Tyre Nichols.On Friday, The City of Memphis released four separate videos related to events surrounding the arrest and beating of Nichols.Biden said in a statement that he was "outraged" by what he saw. "Like so many, I was outraged and deeply pained to see the horrific video of the beating that resulted in Tyre Nichols' death," Biden said. "It is yet another painful reminder of the profound fear and trauma, the pain, and the exhaustion that Black and Brown Americans experience every single day."Read Full Story'It could have been me' a truck driver tells InsiderMEMPHIS, Tennessee — Speaking from the driver's seat of an 18-wheeler trying to merge onto I-55, truck driver Mark told insider he was running out of fuel.He didn't know that he'd run into the protest. If he did, he said, he would have left later.As a Black man, he said he doesn't fault the protestors and would "possibly" be out with them if he was from here. He's on his way to Oklahoma with 1,400 miles left."It could have been me," he told Insider. "It's not the first and it won't be the last."Tyre Nichols video: Body cam footage showing brutal police beating by 5 Memphis police officers releasedA portrait of Tyre Nichols is displayed at a memorial service for him on Tuesday, Jan. 17, 2023 in Memphis, Tenn.Adrian Sainz/AP PhotoMEMPHIS, Tennessee — The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols.The violent footage, from police body cameras and stationary cameras, was released on the department's Vimeo page."You guys are really doing a lot right now," Nichols is heard saying to the officers at the start of the videos, which were released in four parts. "I'm just trying to go home."The beating occurred during a traffic stop in Memphis' Hickory Hill neighborhood on January 7. Nichols, who was 29, died of his injuries three days later. Authorities said Nichols had been stopped by the officers and accused of reckless driving, but Memphis Police Chief Cerelyn J. Davis has since said the department has not found proof to substantiate the reckless driving allegation.Memphis officials and others with access to the video had warned the public of the gruesome nature of the footage in advance of its release on Friday. READ FULL STORYProtesters gathered in Memphis ahead of the video release saying they didn't need to see the footage because they knew 'it was murder'People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, InsiderMEMPHIS, Tennessee — Protesters gathered at Martyrs Park in Memphis, Tennessee, around 6 p.m. local time on Friday evening as the city braced for the release of graphic body camera footage that shows several police officers fatally beating Tyre Nichols.Demonstrators said they didn't need to wait for the video — they already knew Nichols' death was murder.Five officers have been charged with second-degree murder.Approximately hundreds of protesters blocked a long line of 18-wheelers on Old Bridge, chanting "You take our lives, we'll take your money" and "no justice, no peace.Sherri, a Memphis native, told Insider her 28-year-old Black son moved to Germany, and she's glad he's out of the country and away from cops in Memphis. She said she was pulled over on Thursday night and was nervous.When an officer asked her why she was anxious, she responded: "Not all interactions end this way." Read the original article on Business Insider.....»»

Category: worldSource: nytJan 28th, 2023

Tyre Nichols video released: experts cite a "breakdown" in police procedures, activists focus on his life, and we hear more from his mother

The Memphis Police Department released disturbing footage on Friday showing the brutal beating of Tyre Nichols, and people protested across the US. People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, Insider Memphis police released footage of five officers beating Tyre Nichols, who died three days later. Protesters gathered in Memphis on Friday evening, chanting "no justice, no peace." Content note: This story describes police brutality and death and contains graphic videos. Tyre Nichols' mom was mere blocks away when Memphis cops beat her son, and said she felt a pain in her gut when it happenedRowVaughn Wells is comforted at a news conference with civil rights Attorney Ben Crump in Memphis, Tenn., Friday, Jan. 27, 2023.AP Photo/Gerald HerbertMEMPHIS, Tenn — Every Saturday night, RowVaughn Wells would cook dinner for her husband and son. They would eat together.But on the evening of January 7, the Memphis mother had a strange pain in her stomach and didn't know why.It wasn't until hours later that she would learn that that pain coincided with some of what she now believes her son Tyre was experiencing mere blocks away."For me to find out that my son was calling my name, and I was only feet away, and I did not even hear him; you have no clue how I feel right now," Wells said on Friday.READ FULL STORYCivil rights attorney Ben Crump shared a video of Tyre Nichols' parents talking to President Joe BidenCrump tweeted that they "bonded over the love they share for their children."Nichols' mother, RowVaughn Wells, told Biden that her son had her name tattooed on his arm."If I could give you a piece of advice," Biden told them, "if things get really rough, don't be afraid to ask for help. This is like if you were in a battlefield and something happened. It's called post-traumatic stress."—Ben Crump (@AttorneyCrump) January 28, 2023The Memphis Police Department's original report on Tyre Nichols death is full of discrepancies and outright omissions, newly released bodycam footage showsThe image from video released on Jan. 27, 2023, by the City of Memphis, shows police officers talking after a brutal attack on Tyre Nichols by five Memphis police officers on Jan. 7, 2023.City of Memphis via APOn January 8, the Memphis Police Department released a statement describing a "confrontation" with an alleged reckless driver, later identified as Tyre Nichols. But bodycam footage of the incident, released Friday, revealed a different story of the brutal beating that left the 29-year-old dead."On January 7, 2023, at approximately 8:30pm, officers in the area of Raines Road and Ross Road attempted to make a traffic stop for reckless driving," The original Memphis Police Department statement read. "As officers approached the driver of the vehicle, a confrontation occurred, and the suspect fled the scene on foot."Read Full StoryActivists are spreading carefree videos of Tyre Nichols skateboarding to remember him as someone who 'lived in joy'A woman leaves a flower during a vigil on the day of the release of a video showing the Memphis police beating of Tyre Nichols.Brian Snyder/ReutersTyre Nichols was a gentle skateboarder who loved his family and photography. And his friends, family, and activists protesting his death want to remember him that way. A video compilation of the 29-year-old grinding rails and catching air in Sacramento, California is being shared across social media to commemorate his life.Camara Williams, a podcaster, attorney, and community organizer who advocates for abolishing the police, tweeted the video on Friday, telling Insider the video showed "he was a person who lived in life and lived in joy." Read Full StoryLegal experts agree: The videos show a complete 'breakdown' in police protocolsStill from Memphis Police body cam footage of Tyre Nichols beating.Memphis Police"What I saw was certainly police misconduct," Joshua Ritter, a Los Angeles criminal defense attorney, former prosecutor, and partner with El Dabe Ritter Trial Lawyers, told Insider of the footage. "What I saw is never the way that five fully trained officers should try to detain a person."Neama Rahmani, president of West Coast Trial Lawyers and a former federal prosecutor, said there was "no question in my mind that murder charges are appropriate.""I've prosecuted police officers. I've seen police officers imprisoned. I've seen a lot," he said. "This is probably one of the worst things I've ever seen."Read Full StoryMemphis councilman breaks down in tears over bodycam footage—Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) January 28, 2023In an emotional interview with CNN's Don Lemon, Memphis City Council chairman Martavius Jones broke down in tears over the death of 29-year-old Tyre Nichols, saying "this wasn't supposed to happen.""Don, we have to do something," Jones told Lemon in the clip, which has since gone viral on social media. "Not that we were immune to anything, but this wasn't supposed to happen in our community. This was a traffic stop, it wasn't supposed to end like this."Read Full Story2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released—ShelbyTNSheriff (@ShelbyTNSheriff) January 28, 2023 Two deputies with the Shelby County Sheriff's office were relieved of duty pending an investigation, Sheriff Floyd Bonner, Jr. said in a Friday night statement."Having watched the videotape for the first time tonight, I have concerns about two deputies who appeared on the scene following the physical confrontation between police and Tyre Nichols," the statement reads. "I have launched an internal investigation into the conduct of these deputies to determine what occurred and if any policies were violated."On Friday evening, officials in Memphis, Tennessee, released the video footage of Memphis Police Officers beating Nichols after a January 7, 2023, traffic stop. Nichols died several days later of his injuries.Five now-former Memphis Police Officers have been charged with second-degree murder.Protesters in New York gathered in Times Square and other parts of the city to protest the death of Tyre NicholsPeople in New York take part in a protest on January 27, 2023, the day of the release of a video showing police officers beating Tyre Nichols.REUTERS/Andrew KellyProtesters gathered in New York City in Times Square and other locations on Friday night to protest the death of Tyre Nichols, a 29-year-old Black man. A handful of arrests were made, per NYPD, but the full number would not be available until the morning.Nichols died several days after being beaten by police in Memphis, Tennessee, during a January 7, 2023, traffic stop. Camera footage of the deadly police beating was released by Memphis on Friday evening at 7 p.m. ET. Protesters say they have demands for Memphis Mayor Jim StricklandProtesters in Memphis, Tennessee calling for reform after police officers beat Tyre Nichols, who died days later.Haven Orecchio/InisderMEMPHIS, Tennessee — Protesters told Insider's Haven Orecchio that they called Mayor Jim Strickland with demands and will not leave the Memphis and Arkansas Bridge, where the protesters have congregated, until he returns their call.The demands include but are not limited to passing the Data Transparency Ordinance at the city and county levels, tracking law enforcement data, ending the use of unmarked cars and plainclothes officers, and dissolving the SCORPION unit along with other task forces.Biden 'outraged' after release of 'horrific' videos showing Memphis police officers beating Tyre NicholsPresident Joe Biden speaks at the White House on January 12, 2023.AP Photo/Andrew HarnikPresident Joe Biden spoke out on Friday moments after the release of several videos showing police officers brutally beating Tyre Nichols.On Friday, The City of Memphis released four separate videos related to events surrounding the arrest and beating of Nichols.Biden said in a statement that he was "outraged" by what he saw. "Like so many, I was outraged and deeply pained to see the horrific video of the beating that resulted in Tyre Nichols' death," Biden said. "It is yet another painful reminder of the profound fear and trauma, the pain, and the exhaustion that Black and Brown Americans experience every single day."Read Full Story'It could have been me' a truck driver tells InsiderMEMPHIS, Tennessee — Speaking from the driver's seat of an 18-wheeler trying to merge onto I-55, truck driver Mark told insider he was running out of fuel.He didn't know that he'd run into the protest. If he did, he said, he would have left later.As a Black man, he said he doesn't fault the protestors and would "possibly" be out with them if he was from here. He's on his way to Oklahoma with 1,400 miles left."It could have been me," he told Insider. "It's not the first and it won't be the last."Tyre Nichols video: Body cam footage showing brutal police beating by 5 Memphis police officers releasedA portrait of Tyre Nichols is displayed at a memorial service for him on Tuesday, Jan. 17, 2023 in Memphis, Tenn.Adrian Sainz/AP PhotoMEMPHIS, Tennessee — The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols.The violent footage, from police body cameras and stationary cameras, was released on the department's Vimeo page."You guys are really doing a lot right now," Nichols is heard saying to the officers at the start of the videos, which were released in four parts. "I'm just trying to go home."The beating occurred during a traffic stop in Memphis' Hickory Hill neighborhood on January 7. Nichols, who was 29, died of his injuries three days later. Authorities said Nichols had been stopped by the officers and accused of reckless driving, but Memphis Police Chief Cerelyn J. Davis has since said the department has not found proof to substantiate the reckless driving allegation.Memphis officials and others with access to the video had warned the public of the gruesome nature of the footage in advance of its release on Friday. READ FULL STORYProtesters gathered in Memphis ahead of the video release saying they didn't need to see the footage because they knew 'it was murder'People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, InsiderMEMPHIS, Tennessee — Protesters gathered at Martyrs Park in Memphis, Tennessee, around 6 p.m. local time on Friday evening as the city braced for the release of graphic body camera footage that shows several police officers fatally beating Tyre Nichols.Demonstrators said they didn't need to wait for the video — they already knew Nichols' death was murder.Five officers have been charged with second-degree murder.Approximately hundreds of protesters blocked a long line of 18-wheelers on Old Bridge, chanting "You take our lives, we'll take your money" and "no justice, no peace.Sherri, a Memphis native, told Insider her 28-year-old Black son moved to Germany, and she's glad he's out of the country and away from cops in Memphis. She said she was pulled over on Thursday night and was nervous.When an officer asked her why she was anxious, she responded: "Not all interactions end this way." Read the original article on Business Insider.....»»

Category: smallbizSource: nytJan 28th, 2023

How Gen Z Should Prepare Their Finances For 2023 And Beyond

Gen Z may find it difficult to think about retirement planning, saving, and investing. And, for good reason. Stock markets, especially the S&P 500, have been in turmoil as young workers begin their careers. A recession is also on the horizon. It has also been difficult for wages to keep up with inflation. What’s more, […] Gen Z may find it difficult to think about retirement planning, saving, and investing. And, for good reason. Stock markets, especially the S&P 500, have been in turmoil as young workers begin their careers. A recession is also on the horizon. It has also been difficult for wages to keep up with inflation. What’s more, increasing credit card debt and interest rates are contributing to the problem. The cost of housing has also risen. And, the retirement savings gap has grown even larger. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2022 hedge fund letters, conferences and more   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. Despite these challenges, a financial health check-up would be a good idea for Gen Z at the beginning of the new year. This means balancing your immediate money goals with saving for retirement, even if it’s decades away. More specifically, they need to follow these ten steps to establish a healthy financial future in 2023. Increase your income. As we look forward to the new year, Rocket Homes examined the goals of Gen Z for the year 2022. In 2022, 28.9% of respondents said they started or completed their goal of increasing income. In this group of survey takers, the median age was 22 years old. Most likely these people were just beginning their careers, moving from college to the working world, resulting in higher incomes. How can you build your wealth? How about becoming an entrepreneur? Entrepreneurship can drive wealth, and many Gen Zers have already figured that out. Increasing social awareness, 9-to-5 fatigue, and unparalleled social media skills are driving Gen Zers to ditch corporate jobs for their own startups. In fact, more than 60% of Gen Zers have started their own business, or plan to do so. According to the GoBankingRates, Gen Zers can get rich in 2023 through: Copywriting UGC/Influencer Marketing Real estate investing E-Commerce Becoming an Amazon influencer Investing your tax refund in an IRA Even if you’re working a minimum-wage job, you can supplement your income by: Monetizing your social media content Launching a YouTube channel Pet-sitting or dog walking House sitting Gig work, like freelancing or DoorDash Renting out extra space Selling your unused items Tutoring Donating plasma Selling handmade goods online Improve your financial health. In 2023, more than 39.5 percent of Gen Zers aimed to increase their income, according to Rocket Homes. However, in 2023, a new category came in second. In the new year, more Gen Zers are preparing to buy a house after focusing on their financial health the previous year. 27.3% plan to save for a home in the next year. What exactly is financial health? In simple terms, financial health means being able to meet your financial responsibilities. In addition, it describes your ability to cope with any unforeseen financial situations. Assessing your finanical health. Individuals have different ways of evaluating their financial health and determining what can be improved. Nevertheless, comparing your debts and assets is one of the most useful. Here are some suggestions for categorizing the information: Debt-to-income ratio. It is detrimental to your finances if you have too much debt. A debt-to-income ratio (DTI) compares a person’s monthly debt obligations with your income. DTI ratios below 43% are generally preferred by most lenders. In some cases, rates as low as 36% may even be preferred. Credit score. It is also important to maintain a good credit score in order to maintain financial health. The debt-to-credit ratio can be influenced by many factors including debt payments, credit utilization, repayment history, credit mix, and credit history. You are more likely to be approved for financing at lower interest rates and on better terms with a higher FICO® Score. The score ranges from 300 to 850. Emergency fund. A person’s financial health is determined by their ability to cover unexpected expenses, like job loss and car breakdowns. Most experts recommend saving between three and six months’ worth of living expenses in an emergency fund. Your retirement savings. The amount of savings you should have at each age is based on several theories, though some general guidelines should be followed. You can determine whether you are on top of your savings or if you need to catch up if you are behind. Improving your financial health. Spend less than you earn. Suppose your family earns $7,000 per month and spends $7,300 per month. It’s obvious your family’s cash flow is negative. Basically, you spend more than you make. This means you’re going deeper into debt or consuming your savings. Always pay your bills on time. Keeping up with bill payments, no matter how high or low priority, determines an individual’s ability to manage their cash flow and day-to-day financial commitments. Have sufficient living expenses in liquid savings. The money in liquid savings can be accessed at any time. This means they are not locked away in accounts like CDs and IRAs. The money is more accessible, like in a savings account. Invest in enough long-term savings or assets. A short- and medium-term plan is beneficial in financial terms. Long-term savings are necessary for education, homeownership, and retirement. Maintain a reasonable debt load. When determining how much housing you can afford, a common rule of thumb is that you should spend no more than 30% of your gross monthly income before taxes and other deductions. Make sure you have a prime credit score. There are two types of loans: prime and subprime. Prime borrowers are more likely to get the best loan type, rate, and terms. According to the Consumer Financial Protection Bureau (CFPB), prime credit scores range from 660-719. Numbers vary by lender. Have appropriate insurance. Individuals define “appropriate insurance” differently. A person who isn’t a homeowner, for example, isn’t required to have this type of insurance. If you own a vehicle, however, you must carry auto insurance. Plan ahead financially. Having a financial future in mind is an indicator of financial stability. You won’t be able to look forward to the next ten years if you’re scrimping over your last $20. Prepare a balance personal sheet. In today’s world, we rarely look at all our income, investments, and expenses together. However, you need to understand where you stand before making any financial decisions. What does that involve? Keeping a careful record of all your transactions. Specifically, you should pay attention to recurring subscriptions and interest rates on any loans. Prioritize paying down. Student loans, credit cards, and other types of personal debt can be a financial burden as well as a stress factor. Moreover, it influences your credit score, which makes it harder to apply for other credit cards and mortgages. When paying off debt, you should try to focus on the debt with the highest interest rates. In an effort to combat inflation, the Federal Reserve increased interest rates on credit cards aggressively this year, pushing the average rate above 19%. In addition, short-term financing schemes such as buy now, pay later (BNPL), which is popular among Gen Z, can damage credit scores by rapidly accruing loans. Considering that, there are several things to consider when choosing BNPL. Use BNPL only to purchase essentials like a mattress for your apartment or a computer for school, according to NerdWallet. It’s rarely a good idea to take on debt for a non-essential purchase, even though the plan might seem simple and inexpensive. In addition, you’ll want to find a BNPL plan with zero or minimal interest. As a result, you will be able to lower your monthly payments and make it easier to repay the loan. If you’re struggling to make ends meet or starting an emergency fund, avoid buy now, pay later. With BNPL, you can easily overspend due to its convenience. It could result in high fees or being sent to collections, which can negatively impact your credit. Make sure you don’t accidentally spend $5,000 on a $2 Frisbee. “One of the best personal finance anecdotes I ever read was a warning about not being tempted by credit card offers,” writes Michael Grothaus in Fast Company. “I don’t remember if I read it in a personal finance book or some article on the early web, but it went something like this.” During his walk across campus to meet some friends, a college student noticed a booth set up by a credit card company. In exchange for signing up for a guaranteed credit card, the student was told he would get a free Frisbee. It sounded like fun to play Frisbee with his friends that day, so he agreed to do so. The Frisbee was used only once. However, he frequently used the high-interest card to purchase items he wanted but did not need. It took him years to pay more than $5,000 in interest and fees to the credit card company for a $2 piece of plastic he no longer had. “The moral here is not to be lulled into taking a high-interest credit card offer because of any free gift attached (be it Frisbees or “points”),” explains Grothaus. “It will cost you way more in the long run than the short-term incentive offers.” Only use high-interest credit cards if you have no alternative. Put money aside for emergencies. In an economic downturn, such as a recession, it is recommended to set aside three to six months’ worth of expenses for emergencies. Prior to paying off debt, make sure your financial health is in order. It might seem counterintuitive to save before paying off loans. Without it, you could spiral deeper into debt or sell investments that could help. You can leverage any extra cash you have by shopping around with bank products such as high-yield savings accounts and money market funds that are yielding record-breaking returns at the moment. If you’re deciding where to keep your money, though, you’ll need to consider whether certain accounts have penalties or withdrawal limits. Invest as early as possible. For investing, some experts recommend setting aside 15%-25% of your after-tax income. However, every individual’s financial situation may be different. Even if you only invest a few dollars, the longer your money has to grow and work for you thanks to compound interest. Diversify your portfolio. As far as investing is concerned, for anyone seeking a retirement investment or a general investment, the most important decision is how to allocate their assets. To put it another way, it is a way to diversify your investment portfolio between: Bonds since they are more stable Equities since long-term returns are higher. However, they tend to be riskier. ETFs and mutual funds. With both, you can invest in a variety of assets simultaneously. For example, you may purchase an ETF that tracks the S&P 500 index to benefit from the ups and downs of the entire market. Real estate. Real estate is a good investment if you are looking for more tangible assets. An investment portfolio with 60/40 stocks and bonds might be appropriate for investors with a moderate level of risk tolerance. The risk tolerance of each individual is determined by identifying their trigger points. This is how much financial loss they can take before they act. Diverse investments should be made in a variety of companies from a variety of industries. Even if you’re an enthusiast of crypto and tech, they posted large losses in 2022. Therefore, you missed out on energy sector gains. In addition to meme stocks and options trading, riskier assets are not necessarily red flags. However, they shouldn’t account for more than 5% to 10% of a portfolio. Buying a home. Taking a look back at the Rocket Homes survey, homeownership-related goals grew from 37.3% to 45.1%. The high cost of mortgages, rent, and real estate hasn’t deterred this generation – almost half are looking to become homeowners. A home purchase, moving out of their parent’s house, or saving for a home are some examples. With that in mind, here are a few questions to ask yourself before buying a house. Are you actually ready to settle down? Since buying a house is a long-term commitment, you should consider whether you intend to make any major life changes soon. If you are planning any major life events, such as switching jobs, getting married, or having children, you may want to delay buying a home. How’s your job security? If you are worried about losing your job, buying a home isn’t a good idea after a job loss. To put it simply, wait until you have a stable employment situation before considering buying a house. Do you know what you can afford from your budget? Owning a home isn’t just about paying mortgages. Determine your budget and home ownership costs by considering the following factors: utilities, property taxes, insurance, and maintenance. Are you financially prepared? The down payment, mortgage closing costs, and moving expenses will all require money from your savings after you buy the home. Depending on the type of mortgage and lender, a down payment may be required. Generally, a larger down payment will result in a lower monthly mortgage payment. Additionally, mortgage lenders generally offer the best mortgage rates and terms to borrowers with credit scores over 740. And, a debt-to-income ratio under 36% is often preferred by lenders. Plan for retirement. There are many companies that automatically enroll employees in retirement plans such as 401(k)s or 403(b)s. The SECURE Act 2.0, however, requires automatic enrollment beginning in 2025 for all new 401(k)s and 403(b)s. The initial default rate must be between 3% and 10%, including annual auto-escalation of 1%, up to at least 10% but not more than 15%. Employers can enroll their employees in retirement plans automatically to make participation easier. It is possible for employees to opt out of participating. Businesses with fewer than ten employees, new businesses less than three years old, churches, and government plans are exempt from the requirement. In order to comply with the law, default rates must start between 3% and 10%, and increase every year by 1%, up to a maximum of 15%. For businesses’ convenience, automatic enrollment can be integrated with payroll. Additionally, 45 million Americans are impacted by student loan debt, which amounts to $1.75 trillion according to the Federal Reserve in 2021. As such, starting in 2024, employers will be able to match employee contributions to their 401(k) when the employee pays off a student loan. This will enable the employee to save for retirement at the same time as paying off a student loan. Suffice it to say, if your employer offers matching contributions, you should definitely take full advantage of them. It would also be ideal if you saved 10% to 15% of your monthly income toward retirement. Even 1% to 2% will make a significant difference over the long term, advisers say. FAQs What is the Average net worth of Generation Z? American under-35s (a mix of millennials and Gen Zers) have a net worth of $76,000 on average, according to the Federal Reserve’s 2019 Survey of Consumer Finances. In comparison to other generations, what is Gen Z’s net worth? In comparison to older generations, Gen Zers’ net worth is lower on average. It is estimated that the average millennial over the age of 35 earn over $400,000. Gen Xers have average net worths between $400,000 and $833,000. The average net worth of older generations, such as the Baby Boomers and Silent Generation, is in the millions. Since Gen Z accounts for the smallest percentage of the workforce, and entry-level jobs typically pay lower wages, it’s not surprising that they have the lowest average net worth of all generations. How financially healthy are Gen Zers? Approximately 46% of Gen Zers live paycheck-to-paycheck, according to a Deloitte report. In addition, over one-quarter of Gen Zers don’t believe they will be able to retire comfortably.   Moreover, according to a Bank of America survey, 73% of Gen Z believe the current economic environment makes saving more difficult. Inflation has made financial savings harder (59%) and debt repayment more difficult (43%), and created more financial stress (56%). In addition, 40 percent say they have struggled to afford day-to-day necessities due to rising rents or home prices. This generation has also put off investing. About 40% of Americans have no investments, with their top reasons being that they do not have the additional funds to invest (44%), they do not know where to start (31%), and they feel investing is too risky (23%). What are Gen Z’s top three priorities for the year ahead? Among the goals they have are to get a higher education (40%), to advance in their career or salary (32%), and to find a new job (31%). Saving for retirement (25%) is closely followed by traveling (24%), buying a car (22%), and building good credit (20%). How has Gen Z’s net worth and financial future been shaped? In order for this generation to grow and build their net worth, several factors have played a role. Inflation, downturns in the economy, rising educational costs, and stagnant wages have all created significant obstacles to wealth development. Article by Deanna Ritchie, Due About the Author Deanna Ritchie is a financial editor at Due. She has a degree in English Literature. She has written 1000+ articles on getting out of debt and mastering your finances. She has edited over 40,000 articles in her life. She has a passion for helping writers inspire others through their words. Deanna has also been an editor at Entrepreneur Magazine and ReadWrite......»»

Category: blogSource: valuewalkJan 28th, 2023

Tyre Nichols video released: experts cite a "breakdown" in police procedures while activists focus on his life

The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols. People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, Insider Memphis police released footage of five officers beating Tyre Nichols, who died three days later. Protesters gathered in Memphis on Friday evening, chanting "no justice, no peace." Content note: This story describes police brutality and death and contains graphic videos. The Memphis Police Department's original report on Tyre Nichols death is full of discrepancies and outright omissions, newly released bodycam footage showsThe image from video released on Jan. 27, 2023, by the City of Memphis, shows police officers talking after a brutal attack on Tyre Nichols by five Memphis police officers on Jan. 7, 2023, in Memphis, Tenn. Nichols died on Jan. 10. The five officers have since been fired and charged with second-degree murder and other offenses.City of Memphis via APOn January 8, the Memphis Police Department released a statement describing a "confrontation" with an alleged reckless driver, later identified as Tyre Nichols. But bodycam footage of the incident, released Friday, revealed a different story of the brutal beating that left the 29-year-old dead."On January 7, 2023, at approximately 8:30pm, officers in the area of Raines Road and Ross Road attempted to make a traffic stop for reckless driving," The original Memphis Police Department statement read. "As officers approached the driver of the vehicle, a confrontation occurred, and the suspect fled the scene on foot."Read Full StoryActivists are spreading carefree videos of Tyre Nichols skateboarding to remember him as someone who 'lived in joy'A woman leaves a flower during a vigil on the day of the release of a video showing the Memphis police beating of Tyre Nichols.Brian Snyder/ReutersTyre Nichols was a gentle skateboarder who loved his family and photography. And his friends, family, and activists protesting his death want to remember him that way. A video compilation of the 29-year-old grinding rails and catching air in Sacramento, California is being shared across social media to commemorate his life.Camara Williams, a podcaster, attorney, and community organizer who advocates for abolishing the police, tweeted the video on Friday, telling Insider the video showed "he was a person who lived in life and lived in joy." Read Full StoryLegal experts agree: The videos show a complete 'breakdown' in police protocolsStill from Memphis Police body cam footage of Tyre Nichols beating.Memphis Police"What I saw was certainly police misconduct," Joshua Ritter, a Los Angeles criminal defense attorney, former prosecutor, and partner with El Dabe Ritter Trial Lawyers, told Insider of the footage. "What I saw is never the way that five fully trained officers should try to detain a person."Neama Rahmani, president of West Coast Trial Lawyers and a former federal prosecutor, said there was "no question in my mind that murder charges are appropriate.""I've prosecuted police officers. I've seen police officers imprisoned. I've seen a lot," he said. "This is probably one of the worst things I've ever seen."Read Full StoryMemphis councilman breaks down in tears over bodycam footage—Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) January 28, 2023In an emotional interview with CNN's Don Lemon, Memphis City Council chairman Martavius Jones broke down in tears over the death of 29-year-old Tyre Nichols, saying "this wasn't supposed to happen.""Don, we have to do something," Jones told Lemon in the clip, which has since gone viral on social media. "Not that we were immune to anything, but this wasn't supposed to happen in our community. This was a traffic stop, it wasn't supposed to end like this."Read Full Story2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released—ShelbyTNSheriff (@ShelbyTNSheriff) January 28, 2023 Two deputies with the Shelby County Sheriff's office were relieved of duty pending an investigation, Sheriff Floyd Bonner, Jr. said in a Friday night statement."Having watched the videotape for the first time tonight, I have concerns about two deputies who appeared on the scene following the physical confrontation between police and Tyre Nichols," the statement reads. "I have launched an internal investigation into the conduct of these deputies to determine what occurred and if any policies were violated."On Friday evening, officials in Memphis, Tennessee, released the video footage of Memphis Police Officers beating Nichols after a January 7, 2023, traffic stop. Nichols died several days later of his injuries.Five now-former Memphis Police Officers have been charged with second-degree murder.Protesters in New York gathered in Times Square and other parts of the city to protest the death of Tyre NicholsPeople take part in a protest on the day of the release of a video showing police officers beating Tyre Nichols, the young Black man who died three days after he was pulled over while driving during a traffic stop by Memphis police officers, at a protest in New York, U.S., January 27, 2023.REUTERS/Andrew KellyProtesters gathered in New York City in Times Square and other locations on Friday night to protest the death of Tyre Nichols, a 29-year-old Black man. A handful of arrests were made, per NYPD, but the full number would not be available until the morning.Nichols died several days after being beaten by police in Memphis, Tennessee, during a January 7, 2023, traffic stop. Camera footage of the deadly police beating was released by Memphis on Friday evening at 7 p.m. ET. Protesters say they have demands for Memphis Mayor Jim StricklandProtesters in Memphis, Tennessee calling for reform after police officers beat Tyre Nichols, who died days later.Haven Orecchio/InisderMEMPHIS, Tennessee — Protesters told Insider's Haven Orecchio that they called Mayor Jim Strickland with demands and will not leave the Memphis and Arkansas Bridge, where the protesters have congregated, until he returns their call.The demands include but are not limited to passing the Data Transparency Ordinance at the city and county levels, tracking law enforcement data, ending the use of unmarked cars and plainclothes officers, and dissolving the SCORPION unit along with other task forces.Biden 'outraged' after release of 'horrific' videos showing Memphis police officers beating Tyre NicholsPresident Joe Biden speaks at the White House on January 12, 2023.AP Photo/Andrew HarnikPresident Joe Biden spoke out on Friday moments after the release of several videos showing police officers brutally beating Tyre Nichols.On Friday, The City of Memphis released four separate videos related to events surrounding the arrest and beating of Nichols.Biden said in a statement that he was "outraged" by what he saw. "Like so many, I was outraged and deeply pained to see the horrific video of the beating that resulted in Tyre Nichols' death," Biden said. "It is yet another painful reminder of the profound fear and trauma, the pain, and the exhaustion that Black and Brown Americans experience every single day."Read Full Story'It could have been me' a truck driver tells InsiderMEMPHIS, Tennessee — Speaking from the driver's seat of an 18-wheeler trying to merge onto I-55, truck driver Mark told insider he was running out of fuel.He didn't know that he'd run into the protest. If he did, he said, he would have left later.As a Black man, he said he doesn't fault the protestors and would "possibly" be out with them if he was from here. He's on his way to Oklahoma with 1,400 miles left."It could have been me," he told Insider. "It's not the first and it won't be the last."Tyre Nichols video: Body cam footage showing brutal police beating by 5 Memphis police officers releasedA portrait of Tyre Nichols is displayed at a memorial service for him on Tuesday, Jan. 17, 2023 in Memphis, Tenn. Nichols was killed during a traffic stop with Memphis Police on Jan. 7.Adrian Sainz/AP PhotoMEMPHIS, Tennessee — The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols.The violent footage, from police body cameras and stationary cameras, was released on the department's Vimeo page."You guys are really doing a lot right now," Nichols is heard saying to the officers at the start of the videos, which were released in four parts. "I'm just trying to go home."The beating occurred during a traffic stop in Memphis' Hickory Hill neighborhood on January 7. Nichols, who was 29, died of his injuries three days later. Authorities said Nichols had been stopped by the officers and accused of reckless driving, but Memphis Police Chief Cerelyn J. Davis has since said the department has not found proof to substantiate the reckless driving allegation.Memphis officials and others with access to the video had warned the public of the gruesome nature of the footage in advance of its release on Friday. READ FULL STORYProtesters gathered in Memphis ahead of the video release saying they didn't need to see the footage because they knew 'it was murder'People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, InsiderMEMPHIS, Tennessee — Protesters gathered at Martyrs Park in Memphis, Tennessee, around 6 p.m. local time on Friday evening as the city braced for the release of graphic body camera footage that shows several police officers fatally beating Tyre Nichols.Demonstrators said they didn't need to wait for the video — they already knew Nichols' death was murder.Five officers have been charged with second-degree murder.Approximately hundreds of protesters blocked a long line of 18-wheelers on Old Bridge, chanting "You take our lives, we'll take your money" and "no justice, no peace.Sherri, a Memphis native, told Insider her 28-year-old Black son moved to Germany, and she's glad he's out of the country and away from cops in Memphis. She said she was pulled over on Thursday night and was nervous.When an officer asked her why she was anxious, she responded: "Not all interactions end this way." Read the original article on Business Insider.....»»

Category: dealsSource: nytJan 28th, 2023

Tyre Nichols video released: 2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released

The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols. People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, Insider Memphis police released footage of five officers beating Tyre Nichols, who died three days later. Protesters gathered in Memphis on Friday evening, chanting "no justice, no peace." Content note: This story describes police brutality and death and contains graphic videos. Legal experts agree: The videos show a complete 'breakdown' in police protocolsStill from Memphis Police body cam footage of Tyre Nichols beating.Memphis Police"What I saw was certainly police misconduct," Joshua Ritter, a Los Angeles criminal defense attorney, former prosecutor, and partner with El Dabe Ritter Trial Lawyers, told Insider of the footage. "What I saw is never the way that five fully trained officers should try to detain a person."Neama Rahmani, president of West Coast Trial Lawyers and a former federal prosecutor, said there was "no question in my mind that murder charges are appropriate.""I've prosecuted police officers. I've seen police officers imprisoned. I've seen a lot," he said. "This is probably one of the worst things I've ever seen."Read Full StoryMemphis councilman breaks down in tears over bodycam footage—Shannonnn sharpes Burner (PARODY Account) (@shannonsharpeee) January 28, 2023In an emotional interview with CNN's Don Lemon, Memphis City Council chairman Martavius Jones broke down in tears over the death of 29-year-old Tyre Nichols, saying "this wasn't supposed to happen.""Don, we have to do something," Jones told Lemon in the clip, which has since gone viral on social media. "Not that we were immune to anything, but this wasn't supposed to happen in our community. This was a traffic stop, it wasn't supposed to end like this."Read Full Story2 Shelby County deputies placed on leave, Sheriff Floyd Bonner, Jr. says after Tyre Nichols footage released—ShelbyTNSheriff (@ShelbyTNSheriff) January 28, 2023 Two deputies with the Shelby County Sheriff's office were relieved of duty pending an investigation, Sheriff Floyd Bonner, Jr. said in a Friday night statement."Having watched the videotape for the first time tonight, I have concerns about two deputies who appeared on the scene following the physical confrontation between police and Tyre Nichols," the statement reads. "I have launched an internal investigation into the conduct of these deputies to determine what occurred and if any policies were violated."On Friday evening, officials in Memphis, Tennessee, released the video footage of Memphis Police Officers beating Nichols after a January 7, 2023, traffic stop. Nichols died several days later of his injuries.Five now-former Memphis Police Officers have been charged with second-degree murder.Protesters in New York gathered in Times Square and other parts of the city to protest the death of Tyre NicholsPeople take part in a protest on the day of the release of a video showing police officers beating Tyre Nichols, the young Black man who died three days after he was pulled over while driving during a traffic stop by Memphis police officers, at a protest in New York, U.S., January 27, 2023.REUTERS/Andrew KellyProtesters gathered in New York City in Times Square and other locations on Friday night to protest the death of Tyre Nichols, a 29-year-old Black man. A handful of arrests were made, per NYPD, but the full number would not be available until the morning.Nichols died several days after being beaten by police in Memphis, Tennessee, during a January 7, 2023, traffic stop. Camera footage of the deadly police beating was released by Memphis on Friday evening at 7 p.m. ET. Protesters say they have demands for Memphis Mayor Jim StricklandProtesters in Memphis, Tennessee calling for reform after police officers beat Tyre Nichols, who died days later.Haven Orecchio/InisderMEMPHIS, Tennessee — Protesters told Insider's Haven Orecchio that they called Mayor Jim Strickland with demands and will not leave the Memphis and Arkansas Bridge, where the protesters have congregated, until he returns their call.The demands include but are not limited to passing the Data Transparency Ordinance at the city and county levels, tracking law enforcement data, ending the use of unmarked cars and plainclothes officers, and dissolving the SCORPION unit along with other task forces.Biden 'outraged' after release of 'horrific' videos showing Memphis police officers beating Tyre NicholsPresident Joe Biden speaks at the White House on January 12, 2023.AP Photo/Andrew HarnikPresident Joe Biden spoke out on Friday moments after the release of several videos showing police officers brutally beating Tyre Nichols.On Friday, The City of Memphis released four separate videos related to events surrounding the arrest and beating of Nichols.Biden said in a statement that he was "outraged" by what he saw. "Like so many, I was outraged and deeply pained to see the horrific video of the beating that resulted in Tyre Nichols' death," Biden said. "It is yet another painful reminder of the profound fear and trauma, the pain, and the exhaustion that Black and Brown Americans experience every single day."Read Full Story'It could have been me' a truck driver tells InsiderMEMPHIS, Tennessee — Speaking from the driver's seat of an 18-wheeler trying to merge onto I-55, truck driver Mark told insider he was running out of fuel.He didn't know that he'd run into the protest. If he did, he said, he would have left later.As a Black man, he said he doesn't fault the protestors and would "possibly" be out with them if he was from here. He's on his way to Oklahoma with 1,400 miles left."It could have been me," he told Insider. "It's not the first and it won't be the last."Tyre Nichols video: Body cam footage showing brutal police beating by 5 Memphis police officers releasedA portrait of Tyre Nichols is displayed at a memorial service for him on Tuesday, Jan. 17, 2023 in Memphis, Tenn. Nichols was killed during a traffic stop with Memphis Police on Jan. 7.Adrian Sainz/AP PhotoMEMPHIS, Tennessee — The Memphis Police Department released disturbing footage Friday evening showing the brutal beating of Tyre Nichols.The violent footage, from police body cameras and stationary cameras, was released on the department's Vimeo page."You guys are really doing a lot right now," Nichols is heard saying to the officers at the start of the videos, which were released in four parts. "I'm just trying to go home."The beating occurred during a traffic stop in Memphis' Hickory Hill neighborhood on January 7. Nichols, who was 29, died of his injuries three days later. Authorities said Nichols had been stopped by the officers and accused of reckless driving, but Memphis Police Chief Cerelyn J. Davis has since said the department has not found proof to substantiate the reckless driving allegation.Memphis officials and others with access to the video had warned the public of the gruesome nature of the footage in advance of its release on Friday. READ FULL STORYProtesters gathered in Memphis ahead of the video release saying they didn't need to see the footage because they knew 'it was murder'People in Memphis protest the death of Tyre Nichols, who was fatally beaten by police officers.Haven Orecchio, InsiderMEMPHIS, Tennessee — Protesters gathered at Martyrs Park in Memphis, Tennessee, around 6 p.m. local time on Friday evening as the city braced for the release of graphic body camera footage that shows several police officers fatally beating Tyre Nichols.Demonstrators said they didn't need to wait for the video — they already knew Nichols' death was murder.Five officers have been charged with second-degree murder.Approximately hundreds of protesters blocked a long line of 18-wheelers on Old Bridge, chanting "You take our lives, we'll take your money" and "no justice, no peace.Sherri, a Memphis native, told Insider her 28-year-old Black son moved to Germany, and she's glad he's out of the country and away from cops in Memphis. She said she was pulled over on Thursday night and was nervous.When an officer asked her why she was anxious, she responded: "Not all interactions end this way." Read the original article on Business Insider.....»»

Category: dealsSource: nytJan 27th, 2023

Union Pacific, Norfolk Southern Pull into Buying Zone

Union Pacific had a poor quarter, but business was hampered by weather. Norfolk Southern performed better but trades at a higher multiple. Both stocks offer healthy dividends and an outlook for distribution growth. 5 stocks we like better than Union Pacific At least two (2) of America’s Class 1 railroads are pulling back into buying […] Union Pacific had a poor quarter, but business was hampered by weather. Norfolk Southern performed better but trades at a higher multiple. Both stocks offer healthy dividends and an outlook for distribution growth. 5 stocks we like better than Union Pacific At least two (2) of America’s Class 1 railroads are pulling back into buying territory, which is good news for investors. These railroads are cash-generating machines that pay healthy dividends and buy back shares. The outlook for 2023 is a little cloudy but one thing is clear, capital returns are going to be delivered. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2022 hedge fund letters, conferences and more   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. The question is, which one is in a better position to deliver those returns? Based on the Q4 results it looks like Norfolk Southern (NYSE:NSC) could be the winner, but it is a tough call. Union Pacific (NYSE:UNP) is experiencing stronger headwinds than its eastern competitor but offers a touch of value and a slightly higher yield. "In the fourth quarter, we grew carloads as we continued to face challenges hiring craft professionals in critical locations and experienced the impact of extreme winter weather on our network in December," said Lance Fritz, Union Pacific chairman, president, and chief executive officer. "As a result, revenue growth was more than offset by elevated operating expenses from operational inefficiencies and a higher inflationary environment "In the fourth quarter and throughout 2022, Norfolk Southern made significant progress in our financial performance, service improvement, and engagement with our craft team members," said Norfolk Southern President and Chief Executive Officer Alan H. Shaw. "Our team delivered double-digit percentage growth in revenue and earnings per share and achieved record revenue and operating income for the year. A Good Quarter for Rail-Carriers The rail carriers had a good quarter despite the headwinds and were able to grow their revenue and were able to grow their revenue and earnings versus last year. The strength was driven by fuel surcharges, pricing strength and volume increases that left Norfolk Southern revenue up 12.3% and Union Pacific up 8.2%. Union Pacific missed its consensus estimates but may have had a better quarter if not for the weather. Norfolk Southern beat the Marketbeat.com consensus on the top line, but both companies also experienced margin pressure that left their earnings below the consensus. The difference here is that Norfolk Southern outperformed with 9.6% growth and a smaller margin of underperformance relative to the analyst. Union Pacific grew earnings YOY but only by a penny. Norfolk Southern did not give any guidance for the coming year, but we can assume that Union Pacific will continue to experience stronger headwinds, at least in the near to mid-term. Union Pacific did not give guidance on revenue or earnings but expects carloads to exceed the current Industrial Production forecast for 2023, which is down 0.5%. Coupled with fuel surcharges and the possibility of carload growth UNP could see revenue and earnings grow on a YOY basis which is good news for Norfolk Southern. The Value and Yield Comparison These stocks trade at an elevated valuation relative to the S&P 500 but provide better yields. Union Pacific has the better value and yield, but it is a slim difference between them. UNP is trading at 17.65X earnings and paying 2.55%, while NSC is trading at 18.75X and yielding about 2.25%. NSC raised its dividend as well, the 7th consecutive, and its 35% payout ratio says it can do it again next year.   UNP has a slightly higher 44% payout ratio which isn’t bad news except in the light of the company’s target, 45%, which suggests the next dividend increases will be smaller than the 15% CAGR the company has been running. So, UNP is a better value and yield, but NSC has a more robust outlook for growth. This situation may depend on how long you want to hold the stock. The Technical Outlook: Norfolk Southern And Union Pacific Pull Back Into Buy Zone Both UNP and NSC are pulling back. It looks like NSC has further to fall before hitting strong support, but it may not due to its slightly superior quality to UNP. Regardless, support is expected to hold at the $220 (for NSC) and $200 (for UNP) levels unless other bad news comes out. Investors looking to get into these stocks may want to wait for a confirmation of support before pulling the trigger. Should you invest $1,000 in Union Pacific right now? Before you consider Union Pacific, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Union Pacific wasn't on the list. While Union Pacific currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Thomas Hughes, MarketBeat.....»»

Category: blogSource: valuewalkJan 27th, 2023

Trump suggests providing tanks to Ukraine will lead to "nukes" and says ending the war with Russia would be "easy"

Trump, who referred to Putin as a "genius" the week Russia invaded Ukraine, was once impeached over his dealings with Kyiv. President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy during the United Nations General Assembly, Wednesday, Sept. 25, 2019, in New York.AP Photo/Evan Vucci Donald Trump appeared to criticize a decision by the US and Germany to provide tanks to Ukraine.  "FIRST COME THE TANKS, THEN COME THE NUKES," Trump said on his social media platform. Trump also suggested ending the war in Ukraine would be "easy," without elaborating. Former President Donald Trump, whose first impeachment was linked to his dealings with Ukraine, on Thursday appeared to criticize the US and Germany over their recent decisions to provide battle tanks to Kyiv at a time when Russia is expected to launch another major offensive. Trump suggested offering tanks to Ukraine would lead to the use of nuclear weapons. Meanwhile, Trump said it would be "easy" to end the war, without providing any suggestions on how this would be accomplished. "FIRST COME THE TANKS, THEN COME THE NUKES. Get this crazy war ended, NOW. So easy to do," Trump, who is running for president again in 2024, said in a post on his social media platform Truth Social. Russian President Vladimir Putin, whom Trump referred to as a "genius" the week Russia launched an unprovoked invasion of Ukraine in February 2022, has repeatedly made nuclear threats throughout the war. Western countries have accused Putin of reckless nuclear saber-rattling. Nuclear experts have expressed grave concerns about Putin's threats, as leading historians warning that the Russian leader's rhetoric and actions have presented nuclear dangers even greater than during the Cuban missile crisis at the height of the Cold War. But many top military analysts and Russia experts also say that Putin's nuclear threats are largely designed to deter the West from continuing to provide Ukraine with crucial security assistance. The US and other NATO countries have sent billions of dollars worth of aid to Ukraine, including vital weapons that have played a key role on the battlefield and wreaked havoc on Russia's forces. Ukraine recently pushed hard for the West to provide tanks as it looks to defend against the ongoing Russian invasion but also makes preparations to regain control of occupied territory.Trump, who has routinely praised Putin, has consistently been a critic of US aid to Ukraine. The former president's first impeachment was tied to his effort to pressure Ukrainian President Volodymyr Zelenskyy into launching an investigation into Joe Biden and his son, Hunter Biden, over unfounded allegations of corruption. At the time, Biden was a presidential candidate and Trump's top political rival.As he pressured Zelenskyy to launch the inquiries, Trump simultaneously froze congressionally-approved military aid to Ukraine as it continued to fight a war against Kremlin-backed rebels in the country's eastern Donbas region. Much of the fighting in the war Putin launched in late February 2022 has occurred in the Donbas, which is comprised of the Donetsk and Luhansk regions — two out of four Ukrainian territories the Russian leader illegally annexed in September. Though Trump suggested it would be "easy" to end the war in Ukraine, that is not a view that is widely shared by experts or people with experience in diplomacy. Putin's decision to illegally annex four Ukrainian territories, declaring them as part of Russia, has made the possibility of talks to end the fighting extraordinarily unlikely. Russian forces do not fully occupy these regions, and Kyiv has been clear it would not agree to any peace terms requiring it to cede territory to Moscow. "The fact that the Russians have annexed four [Ukrainian] provinces makes an agreement nearly impossible," Gérard Araud, the former French ambassador to the US and the United Nations, told Insider this week.Speaking on Putin's goal of dividing the West to weaken support for Ukraine, Araud also said that "the Russians have always dreamed of having Trump back because in military terms the support of the Americans is really overwhelming compared to the support of the Europeans."The US has provided more security aid to Ukraine than any other country — over $27 billion since Russia invaded. But a number of Republicans in Congress loyal to Trump have expressed opposition to continued aid to Ukraine, citing economic concerns. Read the original article on Business Insider.....»»

Category: dealsSource: nytJan 26th, 2023

Futures Rise Boosted By Solid Tesla Earnings, Chevron"s Giant Buyback

Futures Rise Boosted By Solid Tesla Earnings, Chevron's Giant Buyback In a mirror image of Tuesday's action, when MSFT earnings hammered stocks (after first headfaking them higher) only to see the selloff reverse completely during the course of Wednesday trading, on Thursday US equity futures and tech stocks were set to gain after an upbeat earnings report from Tesla reinforced optimism about the health of Corporate America. As of 7:30am, Nasdaq 100 futures were up 0.7% while S&P 500 futures rose 0.3%. Tesla jumped about 8% in premarket trading after the electric-car maker reported better-than-expected profit and said it was on track to deliver about 1.8 million vehicles this year. Risk sentiment was boosted by news that US energy giant Chevron had authorized a massive $75 billion stock buyback, representing 22% of its outstanding shares, helping elevate energy stocks around the globe. Asia stocks jumped to 9-month highs as Hong Kong returned from break and European stocks rose by 0.4%. Meanwhile, the dollar continued to weaken as speculation continued to mount that the Fed is drawing closer to the end of its rate-hiking cycle, and would follow in the footsteps of first Canada and then Indonesia, both of which have officially paused. Bonds and gold edged lower. In premarket trading, all eyes were on Tesla which rose 7.3% after the electric-car maker reported better-than-expected profits and said it was on track to deliver about 1.8 million vehicles this year. Analysts noted that the EV market leader’s output target looks conservative as new factories in Berlin and Austin are set to add more capacity this year. Among peers: Rivian (RIVN US) +3.5%, Lucid (LCID US) +3.4%, Nikola (NKLA US) +1.9%, Nio (NIO US) +4.9%, Xpeng (XPEV US) +5.1%, Li Auto (LI US) +5%. Bank stocks traded higher in premarket trading Thursday, putting them on track to gain for a second straight day. In corporate news, a New York Stock Exchange employee failed to properly shut down a disaster-recovery system, leading to Tuesday’s chaotic opening session. Meanwhile, Cboe Global Markets wants to list more tokens on its crypto exchange, as established firms from traditional finance seek to capitalize on demand for reliable counterparties following the collapse of FTX. Here are some other notable premarket movers: Chevron (CVX US) gains 2.5% after it announced plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers. Pfizer (PFE US) drops 1.8% in premarket trading as UBS downgrades the stock to neutral, saying estimates for the pharma giant’s Covid-19 franchise still look too high. IBM (IBM US) shares slip 2% after the tech infrastructure and IT services company’s free cash flow for 4Q fell short of estimates, which Morgan Stanley analysts say was a “significant blemish” in the quarter. That overshadowed IBM’s estimate-beating revenue and profit for the fourth- quarter. BuzzFeed (BZFD US) shares were indicated up about 35% following a Wall Street Journal report that the company reached a content creation deal with Meta. The deal was agreed last year and is worth nearly $10 million, WSJ cites people familiar with the matter as saying. Seagate (STX US) shares rise 7.6% as its quarterly update was better than expected and the computer- hardware firm’s guidance underpins a positive view on the stock, analysts say. Teradyne (TER US) falls 3% after its 1Q earnings forecast missed the average analyst expectation, on lower demand for semiconductors and storage tests. Fourth-quarter earnings beat analysts’ estimates. Las Vegas Sands (LVS US) shares gain 2.1% as analysts raise their price targets on the stock. They said better-than-expected results despite travel restrictions boded well for a recovery. US stocks have kicked off 2023 with a rally that has set the S&P 500 on course for its best January since 2019, as investors bet that the Federal Reserve will slow the pace of rate hikes in time to avert a recession. Deutsche Bank AG strategists said this week they expect further gains in the first quarter as an economic contraction is “running late.” Commenting on yesterday's dramatic market reversal, Goldman trader John Flood writes that "when the market/stocks dont go down on bad news (MSFT guide) typically a bullish signal. I think we learned a lot from this price action today: this mkt is more resilient than most of us are giving it credit for (be very thoughtful/selective with your short positions as squeezes will be common this Q). Worth noting CVX raised the dividend by 6% and authorized a monster $75B buyback...energy complex will outperform on this tomorrow. Reminder buyback blackout period ends post close this Friday." Today all eyes will be on US GDP figures due later today, with economists expecting the data to show a slowdown in growth at the end of the year. Focus has also been on the fourth-quarter earnings season for signs of how companies plan to navigate slowing demand and elevated inflation. Analysts are projecting the first quarterly decline in US profits since 2020, but some market strategists have warned profit margin estimates for 2023 are still too high. “Earnings have not been great but they are not disastrous either,’ said Rupert Thompson, chief economist at asset manager Kingswood Holdings Ltd. “Institutional investors have been short equities so you are seeing some of those positions being covered.”  Thompson sees the January stock surge as overdone, given recession risks ahead, but did not discount further short-term gains because “if you do get a 5% pullback, people who missed the rally may think ‘shall we just bite the bullet now rather than wait for another 5% fall?” "Sentiment remains fixated on the path of inflation, and where the Fed will go with interest-rate policy,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Today’s economic data will be crucial to see “whether demand is being squeezed out of the economy and whether more storm clouds are gathering on the horizon,” she said. Soft-landing bets for the US economy and expectations the Federal Reserve is nearing the end of its rate-hiking cycle have lifted stock markets and put the dollar on course for its worst monthly performance since last May. On Thursday, it held around flat against its Group-of-10 peers as investors awaited economic growth and jobs data as well as a core price index that could determine the Fed’s policy path. In Europe, the Stoxx 600 was higher by 0.5% with outperformance in the tech sector after Nokia and STMicroelectronics posted better-than-expected numbers. Results from telecoms group Nokia Oyj and chipmaker STMicroelectronics NV were applauded by investors, helping to lift the Stoxx 600 index by half a percent. Here are some of the biggest European movers on Wednesday: Sabadell shares soar as much as 10% after the Spanish lender reported 4Q net profit that beat estimates and gave above- consensus estimates guidance Sartorius AG rises as much as 8.3% after the laboratory equipment firm reassured the market with an update to its financial targets; its subsidiary Sartorius Stedim Biotech rises, too STMicro jumps as much 9.3% after the chipmaker projected first-quarter and full-year sales ahead of consensus estimates, defying a slowdown in the broader semiconductor industry Nokia shares gain as much as 7.2%, the biggest intraday climb since July, after the telecom equipment maker outlined full-year outlook that met expectations Diageo falls as much as 7.4%, weighing on peers in the alcohol and beverages sector, after the Johnnie Walker maker’s results disappointed in North America and delivered an uncertain outlook Volvo shares slide as much as 4.9% in early trading after the Swedish truck producer reported 4Q22 earnings that came in below consensus SEB falls as much as 4.8%, the most since October, after the Swedish lender reported 4Q figures that beat expectations but were of a low quality, according to Citi Novartis falls as much as 2.4% on being cut to neutral from buy at Citi on a more cautious outlook for the Swiss pharma group’s cholesterol drug Leqvio and prostate cancer drug Pluvicto SAP shares fall as much as 4.1% after it’s free cash flow outlook for 2023 missed estimates, even though the firm still projected at least a double-digit growth for operating profits Earlier in the session, stocks in Asia Pacific rose for a fifth straight day as investors in Hong Kong returned from Lunar New Year holidays that delivered a boost to consumption. The MSCI Asia Pacific Index climbed as much as 0.8% to the highest since April 22. Hong Kong-listed stocks rallied as data on spending and tourism during the three-day break signaled a recovery in demand is gaining traction in China. The Hang Seng Index closed at its highest since March. “Stocks in Hong Kong would probably remain on the stronger side,” Chetan Seth, an Asia Pacific equity strategist at Nomura, told Bloomberg Television. “What we might see in the months ahead is improvement in activity indicators.”  Benchmarks in South Korea, Indonesia and Singapore also rose as traders assessed the global economy’s prospects. China’s reopening has triggered a rebound across Asia, with investors now looking beyond Covid infection figures to evaluate how a recovery in the region’s largest economy will impact earnings. The MSCI Asia gauge is outperforming the S&P 500 by more than four percentage points so far in 2023 Japanese stocks fell, while markets in Australia, China, India, Taiwan and Vietnam were closed. Japanese stocks closed slightly lower, erasing early gains and halting a four-day winning streak, as investors assessed prospects for corporate earnings and the global economy. The Topix fell 0.1% to close at 1,978.40, while the Nikkei declined 0.1% to 27,362.75. Sony contributed the most to the Topix decline, decreasing 1.3%. Out of 2,161 stocks in the index, 893 rose and 1,116 fell, while 152 were unchanged. “There is a continued wait-and-see mood as there are two important indicators, the FOMC meeting and ISM employment reports coming up next week,” said Shogo Maekawa a global market strategist at JP Morgan Asset Management In FX, the Bloomberg Dollar Index swung between moderate gains and losses. The Norwegian krone and Australian dollar led gains, while Sweden’s krona lagged.  The euro retreated after six days of gains versus the greenback, though it is likely to enjoy continued monetary policy support, as several European Central Bank rate-setters spoke in favor of further hefty policy-tightening over coming months.  Traders are likely to parse reports on US economic growth, initial jobless claims and a core price index due Thursday to gauge if the Fed will opt for a smaller rate hike on Feb. 1. Recent commentary from some central bank officials has backed the case for a quarter point increase In rates, treasuries were lower after following gilts and, to a lesser extent, bunds during European morning. US yields cheaper by up to 4bp across long-end of the curve which leads losses on the day; 10-year yields back up to around 3.48% with gilts underperforming by additional 2bp in the sector and bunds trading broadly in line. UK and German 10-year yields rise by 4bps and 2bps respectively. A raft of US economic data is set to be released, and auction cycle concludes with 7-year notes following strong demand for 5- and 2-year sales. $35b 7-year notes at 1pm New York time is final coupon auction of the November-to-February financing quarter; all previous coupon auctions during January have stopped through. The WI 7-year around 3.525% is ~40bp richer than January’s stop-out and below auction stops since August. Saira Malik, chief investment officer of Nuveen, said earnings risk in a consumer-led slowdown will act as a headwind to equities, with a shift into bonds underscoring the fragile sentiment. “You can start to increase your duration in fixed-income and get strong total returns in it without a lot of these heavy macro risks that are going to hit equities,” Malik said in an interview with Bloomberg TV. “Equities considering their valuation are less attractive.” Elsewhere, oil prices rose for a second day, lifted by expectations of demand recovery in China. Crude future advance with WTI gaining 0.9% to trade near $80.90. Spot gold falls roughly 0.5% to trade near $1,937/oz. Bitcoin fell more than 2%, reversing much of Wednesday’s gain. Looking to the busy day ahead now, data releases from the US include the advance estimate of Q4 GDP, preliminary durable goods orders for December, new home sales for December and the weekly initial jobless claims. Otherwise, earnings releases include Visa, Mastercard, Intel, American Airlines and Comcast. Market Snapshot S&P 500 futures up 0.2% to 4,038.75 MXAP up 0.6% to 170.22 MXAPJ up 1.1% to 558.68 Nikkei down 0.1% to 27,362.75 Topix down 0.1% to 1,978.40 Hang Seng Index up 2.4% to 22,566.78 Shanghai Composite up 0.8% to 3,264.81 Sensex down 1.3% to 60,205.06 Australia S&P/ASX 200 down 0.3% to 7,468.30 Kospi up 1.7% to 2,468.65 STOXX Europe 600 up 0.5% to 454.33 German 10Y yield little changed at 2.19% Euro down 0.1% to $1.0900 Brent Futures up 0.4% to $86.50/bbl Gold spot down 0.5% to $1,937.17 U.S. Dollar Index up 0.17% to 101.81 Top Overnight Stories BOJ members were divided over whether the 2% inflation goal could be sustainably achieved and felt the extreme level of accommodation should be sustained. Also, The IMF suggested that the BOJ could allow more flexibility in 10-year bond yields, a move that would involve policy changes for the central bank. RTRS / Nikkei China’s most scenic destinations have been inundated during the Spring Festival holiday, as Beijing’s shift away from Covid Zero spurred a travel frenzy despite the country’s ongoing omicron outbreak. BBG Bank of Indonesia has delivered enough interest-rate increases, according to Governor Perry Warjiyo, who signaled that this round of tightening is coming to an end as the Federal Reserve also winds down. This is the second central bank in as many days (after the Bank of Canada yesterday) to signal an end to rate hikes. BBG Pakistan’s economy is at risk of collapse, with rolling blackouts and a severe foreign currency shortage leaving businesses struggling to operate as authorities attempt to revive an IMF bailout to relieve the deepening crisis. FT Adani Group may take legal action against Hindenburg Research after the US short seller alleged "brazen" market manipulation and accounting fraud. Shares of Adani-related entities slumped yesterday, shaving $12 billion off the empire of Asia's richest man, and a raft of its companies' dollar bonds fell further today. BBG Eurozone officials start talks on creating a huge multibillion-euro fund to compete w/the US green energy subsidies. London Times The NYSE mayhem earlier this week was due to simple human error, people familiar said — an exchange employee didn't correctly shut down a backup system running overnight so heading into Tuesday, the NYSE's computers treated the 9:30 a.m. bell as a continuation of trading, skipping the opening auctions. No word yet on the cost of the chaos. BBG Donald Trump's back. Meta will reinstate the former president's social media accounts "in the coming weeks" following a two-year suspension. He had 34 million followers on Facebook and 23 million on Instagram back in 2021 but, more important, his re-election campaign will now be able to buy ads to raise money via direct appeals or by capturing users' contact info to solicit them directly. BBG Tesla jumped as much as 8% premarket after profit beat, though there were mixed signals on the outlook. Elon Musk said production may top 1.8 million vehicles this year. BBG A more detailed look at global markets courtesy of Newsquawk APAC stocks traded somewhat mixed amid key holiday closures and after the flat handover from Wall St where the major indices recouped most of their initial losses after the BoC’s dovish hike. Nikkei 225 was subdued amid a firmer currency and upside in yields, while the government also lowered its overall economic assessment for the first time in 11 months. KOSPI gained despite the weaker-than-expected GDP data although the finance minister flagged the likelihood of a return to growth for the current quarter. Hang Seng outperformed as participants in Hong Kong returned from the Lunar New Year holiday and were greeted by strength in tech, property and autos, although trade across the rest of the region remained relatively quiet owing to the closures in Australia, China, Taiwan, India and Vietnam. Top Asian News BoJ Summary of Opinions from the January meeting stated it is appropriate to maintain current monetary easing including YCC and that the BoJ must keep yields from rising across the curve while being mindful of the bond market function. Furthermore, they must spend more time to gauge the impact of the December decision and must conduct a review of policy at some point although it is appropriate to maintain easy policy for now, while they still see some distance in achieving the price goal and noted it will take some time to achieve sustained wage growth. IMF (policy proposal on Japan) says the BoJ should allow bond yields to move in a more flexible manner; If significant upside inflation risks materialise, BoJ needs to be ready to withdraw stimulus strong, e.g. by increasing interest rates; possible options for the BoJ include widening the yield bank, increasing the yield target, targeting shorter yields and shifting to a quantity target; BoJ policy is appropriate as inflation is likely to ease but risks are becoming more pronounced; FX intervention should be limited to special circumstances such as disorderly market conditions. Japan is to downgraded its COVID classification on May 8th, via NHK. European bourses are firmer across the board, Euro Stoxx 50 +0.6%, with a busy morning for earnings dictating the state of play before Stoxx 600 heavyweight LVMH's (MC FP) earnings, due after-market on Thursday. Stateside, futures are firmer across the board, ES Mar'23 +0.2% and comfortably above the 4k mark and as such the 10- and 200-DMAs which reside on either side of the figure. NDX +0.6% is the incremental outperformer after a well received update from Tesla (TSLA) +7% pre-market while IBM (IBM) slips -1.6% after its Q4 report. Top European News US and EU are reportedly discussing a potential deal regarding critical raw materials and minerals, to enable the EU to benefit from the US' Inflation Reduction Act/green investment plan, via Bloomberg citing sources. UK 2022 car production fell 9.8% Y/Y to 775k units, while car and light van production for 2023 is expected to increase 15% Y/Y to 984k units, according to SMMT. UK ONS says consumer behaviour indicators were broadly similar to the prior week. Irish Finance Minister McGrath says Brexit talks have reached a new level. Italian Economy Minister says before April they intend to extend relief measures to assist families and firms with energy costs, could alter regulations on capital gains tax. Denmark Calls for Mandatory Military Service for Women Europe Gas Prices Rebound After Slump With Asia Demand in Focus Diageo Drops as Sales Growth Slows in Crucial US Market Saipem Top Oil Services Pick at JPMorgan, Subsea 7 Cut FX DXY slips to a minor new 101.500 y-t-d low, but holds in and pares some losses pre-US data raft. Aussie and Kiwi remain underpinned on inflation grounds, but AUD/USD heavy on 0.7100 handle and NZD/USD clipped around 0.6500. Yen recoils between 129.00-130.00 range vs Buck as Japan's top currency diplomat warns that sharp moves will not be tolerated, CNH bid as HK markets return from holiday with COVID reopening optimism. Euro and Pound wobble above 1.0900 and 1.2400 vs Dollar and ahead of technical resistance. Morgan Stanley's month-end USD rebalancing model: expects the USD to underperform in January, with weakness expected vs all G10 currencies ex-NOK. CBRT announced support for the conversion of firms' foreign exchange obtained from abroad into Turkish liras to support 'liraization' in commercial activities, with firms to be provided with FX conversion support corresponding to 2% of the amount converted. Fixed Income Core benchmarks have continued to ease from best levels with the IMF's BoJ/Japan policy proposal adding to the pressure. Bunds holding just above 138.00 within 138.62-137.91 parameters while Gilts are just below 105.00 towards the mid-point of a 105.66-104.72 range. USTs are similarly contained around the 115.00 handle as participants await US data and a subsequent 7yr auction. Commodities WTI and Brent March futures remain underpinned by the China-demand narrative, though are relatively rangebound overall and spent much of the morning trading with no firm direction with focus on geopols and French strike action. US and European gas futures are experiencing a modest divergence, with ING suggesting the US Nat Gas pressure is due to milder weather. TotalEnergies (TTE FP) says pension reforms strike action is interrupting shipments at French production sites, except for the Feyzin refinery (119k BPD). Continue to ensure petrol stations are supplied, no shortage. 24-hours strike declared at the 140k BPD Fos-Sur-Mer oil refinery in France, according to BFM TV citing an Esso Union official. German energy regulator says there is not enough gas saving in the third calendar week; household, business and industry consumption down 9%in total in that week (vs 20% target). Spot gold has been dipping from best levels amid seemingly yield-driven USD upside while LME copper is relatively resilient but has slipped from best levels. Geopolitics Russian Kremlin says it sees the sending of Western tanks to Ukraine as direct and growing involvement in the conflict. Russian Security Council's Secretary Patrushev says the US and NATO are participating in the Ukrainian conflict and want to prolong it. US Event Calendar 08:30: 4Q GDP Annualized QoQ, est. 2.6%, prior 3.2% 4Q GDP Price Index, est. 3.2%, prior 4.4% 4Q PCE Core QoQ, est. 3.9%, prior 4.7% 4Q Personal Consumption, est. 2.8%, prior 2.3% 08:30: Dec. Durable Goods Orders, est. 2.5%, prior -2.1% Dec. -Less Transportation, est. -0.2%, prior 0.1% Dec. Cap Goods Orders Nondef Ex Air, est. -0.2%, prior 0.1% Dec. Cap Goods Ship Nondef Ex Air, est. -0.4%, prior -0.1% 08:30: Jan. Initial Jobless Claims, est. 205,000, prior 190,000 Continuing Claims, est. 1.66m, prior 1.65m 08:30: Dec. Advance Goods Trade Balance, est. -$88.1b, prior -$83.3b, revised -$82.9b 08:30: Dec. Retail Inventories MoM, est. 0.2%, prior 0.1% Wholesale Inventories MoM, est. 0.5%, prior 1.0% 08:30: Dec. Chicago Fed Nat Activity Index 10:00: Dec. New Home Sales MoM, est. -4.4%, prior 5.8% New Home Sales, est. 612,000, prior 640,000 11:00: Jan. Kansas City Fed Manf. Activity, est. -8, prior -9 DB's Jim Reid concludes the overnight wrap Morning from Milan. Yet another first time since the pandemic started trip. Always nice to be back. I’d almost forgotten how good the food is here! It was a fairly positive macro dinner with clients generally constructive. It was unique to be in Italy and see no-one really too concerned about Italy credit quality which is testimony to the various EU/ECB packages both pre and post the pandemic and also impressive given how far the ECB has come on rates and how far it still has to go. With markets overall on the calm side too at the moment we're getting our mini vol from entering earnings crossfire season where a big name’s quarterly report can pick you off. Indeed, sentiment yesterday was heavily influenced at first by Microsoft’s disappointing cloud sales outlook from after the bell on Tuesday night. The company’s shares were down around -4.5% soon after the open, before sentiment steadily improved as the day progressed. By the end of the day, it had clawed its way back up to have only lost -0.59%. More broadly, the Nasdaq and S&P 500 hit intraday lows of -2.34% and -1.69%, respectively, before closing at -0.18% and -0.02%. So a decent recovery. After the close, we then heard from Tesla and IBM. Tesla reported adjusted earnings of $1.19 EPS ($1.12 EPS expected) as it sought to boost output quickly to achieve its previous guidance of 1.8mn vehicles delivered this year. In after-market trading it then advanced +5.5%, especially after Elon Musk said that he expected demand would remain strong despite an expected contraction and that there was a new “next-generation” vehicle that would be announced in March. IBM (-2.0% after-market) also beat earning expectations at $3.60 EPS (consensus was $3.58), and increased its sales forecast whilst announcing they would be cutting headcount by 1.5%. Against this backdrop, US equity futures are looking more positive this morning, with those on the S&P 500 (+0.12%) and the NASDAQ 100 (+0.35%) both higher. With the S&P 500 finishing the day largely unchanged, 12 of 24 industry groups were in positive territory for the day. Telecoms (+2.50%), banks (+1.17%), insurance (+0.78%), and food & beverage (+0.73%) outperformed, whereas transports (-1.43%) and utilities (-1.36%) were the biggest laggards. Europe closed before the last of the rally in the US, with the STOXX 600 finishing down -0.29%. The STOXX Technology index was similarly down -1.66% at the lows before staging a late recovery itself that only left it down -0.13%. Much like US equities, US bonds saw a decent range and by the close yields on 10yr Treasuries were down -1.1bps on the day to 3.44% (range 3.42-3.49%). By contrast in Europe, yields on 10yr bunds (+0.3bps), OATs (+1.1bps) and BTPs (+3.3bps) all moved higher to varying degrees. That followed fresh comments from ECB speakers, with Slovenia’s Vasle saying that rates should go up by 50bps at the next two meetings. Ireland’s Makhlouf also endorsed continuing with 50bps into March, saying that “We need to continue to increase rates at our meeting next week – by taking a similar step to our December decisions – and also at our March meeting.” Ahead of the Fed and ECB decisions next week, we did get a decision yesterday from the Bank of Canada. They hiked by 25bps as expected, but said in their statement that they expect “to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases.” Governor Macklem did make clear in his press conference statement that this was “a conditional pause”, and said they were willing to do more if needed to get inflation back to target. However, it’s still an important milestone after a series of 8 hikes at consecutive meetings, particularly given speculation about when the Fed might reach a similar point in their own hiking cycle. Speaking of the Fed, they’re currently in their blackout period, but the Washington Post reported yesterday that Vice Chair Brainard was a top contender to become the next head of the National Economic Council at the White House. If that happened, that would open up a space on the board as well as the Vice Chair position, although as it stands Brainard’s position as both a Governor and Vice Chair currently last until H1 2026. Nevertheless, there is a precedent for such a move from the Fed to the White House, such as when former Chair Bernanke went from being a Fed Governor to Chair of the Council of Economic Advisers in 2005, before going back to the Fed as Chair the following year. Similarly, Janet Yellen made the same move from Fed Governor to CEA Chair in 1997. Staying with the White House, the Biden administration announced that the US would be sending 31 M1 Abrams tanks to Ukraine, adding on to those confirmed by Germany. Delivery of the US tanks could take months but training would begin soon. The German tanks are expected to be sent to Ukraine within three months. Overnight in Asia, equities have posted advances for the most part, with the Hang Seng up +1.89% as it resumed trading following a holiday. That leaves the index on track for its highest closing level since April last year, and brings its gains since the end of October to +53% now. In the meantime, the KOSPI was also up +1.44%, but the Nikkei is down -0.20% this morning amidst a further strengthening in the Japanese Yen, which stands at 129.36 per US Dollar this morning. Looking at yesterday’s other data, the Ifo business climate indicator from Germany rose to a 7-month high of 90.2 in January (vs. 90.3 expected). And the expectations component rose to an 8-month high of 83.2 (vs. 82.0 expected). To the day ahead now, and data releases from the US include the advance estimate of Q4 GDP, preliminary durable goods orders for December, new home sales for December and the weekly initial jobless claims. Otherwise, earnings releases include Visa, Mastercard, Intel, American Airlines and Comcast. Tyler Durden Thu, 01/26/2023 - 08:06.....»»

Category: personnelSource: nytJan 26th, 2023

Facebook Reinstates Trump After Two Years With "New Guardrails In Place"

Facebook Reinstates Trump After Two Years With "New Guardrails In Place" A little more than a week after the Trump campaign urged Facebook parent Meta to lift the ban on the former president, the social media giant has agreed to reinstate him on both Facebook and Instagram after a two-year ban, according to Nick Clegg, Meta's president of global affairs. "We've always believed that Americans should be able to hear from the people who want to lead the country," Clegg said. "We don't want to stand in the way of that." As Meta wrote in a lengthy blog post: "Social media is rooted in the belief that open debate and the free flow of ideas are important values, especially at a time when they are under threat in many places around the world. As a general rule, we don’t want to get in the way of open, public and democratic debate on Meta’s platforms — especially in the context of elections in democratic societies like the United States. The public should be able to hear what their politicians are saying — the good, the bad and the ugly — so that they can make informed choices at the ballot box. But that does not mean there are no limits to what people can say on our platform. When there is a clear risk of real world harm — a deliberately high bar for Meta to intervene in public discourse — we act. ... We know that any decision we make on this issue will be fiercely criticized. Reasonable people will disagree over whether it is the right decision. But a decision had to be made, so we have tried to make it as best we can in a way that is consistent with our values and the process we established in response to the Oversight Board’s guidance." Interestingly, Meta's Oversight Board wrote its own blog post distancing itself from the decision:  Today’s decision by Meta is a pivotal moment in the debate over the best way to handle harmful content posted by politicians on social media. Today’s decision to reinstate Mr. Trump on Meta’s platforms sat with Meta alone — the Board did not have a role in the decision. As Nick Clegg noted, "I am the the ultimate decision maker on these kinds of issues in the company." Cue the outrage mob explaining how this will end democracy as we know it... Trump incited an insurrection. And tried to stop the peaceful transfer of power. He’s shown no remorse. No contrition. Giving him back access to a social media platform to spread his lies and demagoguery is dangerous.@facebook caved, giving him a platform to do more harm. — Adam Schiff (@RepAdamSchiff) January 25, 2023 Despite all the fearmongering, Jameel Jaffer, executive director at the Knight First Amendment Institute at Columbia University, says "this is the right call"... "...not because the former president has any right to be on the platform but because the public has an interest in hearing directly from candidates for political office. There are narrow circumstances in which social media platforms really have no choice but to take down political leaders’ posts - which is why we endorsed Meta’s decision to suspend Trump’s account when he used it to encourage violence. In most circumstances, though, it’s better if the major social media platforms err on the side of leaving speech up, even if the speech is offensive or false, so that it can be addressed by other users and other institutions.” Additionally, Katie Fallow, senior counsel at the Knight First Amendment Institute at Columbia University, points out that "big tech platforms already exercise a huge amount of power over public discourse online. In general, we don’t want them also deciding which political leaders we hear from and which ones we don’t." Former President Trump has responded in his usual under-stated manner: Trump was banned from the platform shortly after the Jan. 6 Capitol riot. The reinstatement of Trump's accounts will allow him to run ads via his Facebook and Instagram pages, which have 34 million and 23 million followers, respectively. Trump relied heavily on Facebook ads in previous election cycles for fundraising and list-building. Under Elon Musk, Twitter has also reinstated Trump's account, but he has not posted yet, continuing to rely on his account at Truth Social instead. -Axios That said, Clegg warned that "We just do not want — if he is to return to our services — for him to do what he did on January 6, which is to use our services to delegitimize the 2024 election, much as he sought to discredit the 2020 election." Trump's accounts will not be reinstated immediately, as Meta engineers will need time to build in nanny capabilities to restrict certain posts or ad capabilities in the future, if needed. The former president will be subject to new policies governing accounts by public figures during periods of civil unrest - under which Meta can restrict the account for between one month and two years. More serious violations will merit either a six or 12-month restriction from creating content or a full account restriction for two years, if severe. Trump will also be subject to a crisis policy protocol, introduced by Meta in August, that will consider both on and off-platform risks of imminent harm to evaluating whether the actions or speech of any public figures requires sanctioning. "If he now posts further violating content, that content will be removed, of course, and he could be suspended for between one month and two years, depending on the severity of the violation," Clegg said. -Axios Interestingly, Trump has an exclusivity deal with his social media company, Truth Social - which requires him to "first channel any and all social media communications" to Truth for at least six hours before cross-posting the content to other platforms, according to SEC filings. That agreement expires in June, according to Rolling Stone, which notes that it would be right around when Republican primary season begins to heat up. Tyler Durden Wed, 01/25/2023 - 17:21.....»»

Category: smallbizSource: nytJan 25th, 2023

Marjorie Taylor Greene Ready To Be Trump"s VP In 2024 And "She"s Not Shy About That": Report

Rep. Marjorie Taylor Greene (R-GA) is reportedly eager to become former President Donald Trump's 2024 running mate. What Happened: Greene is making it clear that she's hoping to become Trump’s vice president, should he win the election in 2024, according to sources who spoke to NBC. read more.....»»

Category: blogSource: benzingaJan 25th, 2023

Brazil"s Central Bank On The Verge Of Raising Its Inflation Target As It Spirals Into The Inflationary Abyss

Brazil's Central Bank On The Verge Of Raising Its Inflation Target As It Spirals Into The Inflationary Abyss Over the past year, we have repeatedly said that the endgame for this particular episode in central bank stupidity will be when the Fed is dragged, kicking and screaming, into hiking the US inflation target (read this, this and this). At some point Fed will concede it has no control over supply. That's when we will start getting leaks of raising the inflation target — zerohedge (@zerohedge) June 21, 2022 And while it will take at least a few more years before the Fed admits defeat - should it pause and/or pivot it will take far shorter - one place where a central bank inflation target increase is imminent, is Brazil. To be sure, Brazil is a bit of a basket case, having had its share of close encounters with terminal socialism, most recently in October when Luiz Inácio Lula da Silva (Lula) defeated Bolsonaro to became president for a second time (and a first-ever third term) while promising all the irresistible delights of socialism, if not communism. And like every self-respecting socialist, Lula quickly figured out that what he needs first and foremost, is control over the central bank. The problem, as everyone knows, is that giving access of a country's money printer to a true-blue socialist is sovereign suicide, and in Brazil It took decades of cajoling and lobbying by the financial community to finally shield the central bank from political meddling. So when President Luiz Inacio Lula da Silva, just three weeks into office, questioned the need for an autonomous central bank during a national TV interview last week, it didn’t go over well in markets... even if nobody was really surprised. Swap rates surged and the currency tanked following his remarks. Cabinet members entered the field and managed to halt the plunge that day, but the episode left many investors increasingly alarmed about a Lula presidency they are finding to be vastly different than the one that oversaw an economic boom back in the first decade of the new the century. As Bloomberg notes, as part of his socialist overhaul, Lula has packed his economic team with "left-wing loyalists, lambasted fiscal rules and now, with his thinly veiled attack on central bank autonomy, taken a posture that raises doubts about the government’s commitment to quelling consumer prices increases in a country with a long history of nasty inflation outbreaks." Which is ironic since so much of the US establishment was openly rooting for a grand ole socialist time under Lula and was so very happy when Bolsonaro lost by the narrowest of margins. And like every socialist (or despotic tyrant for that matter) who promises the sun, moon and stars... if only he had access to an infinite supply of (soon to be devalued cash), Lula quickly grasped that what he needs is to strip the central bank of its independence. As such, his saber-rattling is born in large part out of frustration, investors say, with the growing clash between their fiscal policy - aimed at boosting a sputtering economy - and the central bank’s high interest-rate policy -  designed to bring inflation back down to target. But what if one goes for the classical Faustian bargain: let's make life a little bit easier for everyone if we all agree on just a little more inflation? Well, that's precisely what Lula is doing. Last Wednesday, in a wide-ranging interview with Globo TV, Lula downplayed the importance of an independent central bank, and addressed the country’s soon-to-be-raised inflation target. Taking a page right out of Erdogan's playbook (as a reminder, in Turkey the central bank has lost all of its autonomy in recent years as Turkey's dictator appointed close friends and allies to run it under fear of immediate termination if they refuse to follow orders), Lula said that “there was a lot of discussion in this country to have an independent central bank, believing that it would be better,” (during Lula’s initial two terms in office, the bank’s chief, Henrique Meirelles, said the president had given him de-facto autonomy to set monetary policy). Lula then said that “it’s silly to think that an independent central bank governor is going to do more than when the president appointed him.” Which, of course, is precisely what he would say when considering his bigger goal, which is - drumroll - raising the Brazilian inflation target. As Bloomberg noted, during the interview, Lula defended moves to raise the country’s inflation target and said that he would be forced to tighten economic conditions to reach the target and questioned why not set higher than the current 3% goal established for 2024, mentioning 4.5% as a possibility. And since every radical monetary overhaul needs a social crisis, the CIA Brazil conveniently had just that a few days prior. The president said in the interview that he views the storming of the presidential palace, the congress and the Supreme Court building on Jan. 8 to have been “the beginning of a coup” and that the rioters were acting “according to the order and guidance that Bolsonaro gave for a long time.” “His decision to keep quiet after losing the election, weeks and weeks of not saying anything; his decision not to hand the sash to me, to leave for Miami as if he were running away in fear of something; and his silence even after what happened here, gave me the impression that he knew everything that was happening, that he had a lot to do with what was happening,” Lula said. Ah yes, implementing revolutionary monetary policy overhaul at a time when a group of people (without military support) storms the local center of power, and the former president is constantly used by the media and the deep state as an endless propaganda distraction from what matters... it's almost as if we've seen that particular play before. So what happens next? Well, since there is nobody that can prevent Lula from achieving what he wants (see Turkey) it's only a matter of time before Brazil becomes the first quasi-modern central bank to raise its inflation target during this particular monetary cycle. The soon-to-be-toothless central bank chief Roberto Campos Neto himself addressed concerns about Lula's intervention several times, saying such moves could “reduce the power” of monetary policy and reinforcing that policy makers “won’t hesitate” to raise interest rates if needed. Meanwhile, as foreign investors watch the Brazilian socialist tragicomedy unwind in real time terrified of what the outcome for the country's inflation will be, they have been avoiding local assets. Vista Capital had flagged an attack on the central bank’s autonomy as a “relevant risk” being underestimated by markets in a note at the end of last year, but the topic became ubiquitous following the interview, with money managers now expecting the administration to force a change in Brazil’s inflation goals. The government is expected to set 2026’s target in June, and will almost certainly revise the current goal of 3% for 2024 and 2025 to 4.5% as Lula hinted. “Lula’s decision to publicly state twice that the inflation target should be higher did not go unnoticed, and may further reinforce increasing inflation expectations over longer periods” in the central bank’s weekly survey, JPMorgan economist Cassiana Fernandez wrote in a note as Bloomberg reported. Sure enough, analysts in the survey have raised estimates for 2023 inflation six weeks in a row, and also see consumer prices rising above target through 2025. Campos Neto seemed to mostly shrug off Lula’s remarks, acknowledging interest rates were currently high while also reiterating the bank will continue to act independently — something that’s helped curb volatility in markets, he said late last week, at least until Lula makes it very clear that he is in control of the central bank. As such, locals are watching for what they say is the first true test to the bank’s autonomy: the appointment of a replacement for Bruno Serra, who’s expected to step down as monetary policy director in February. Campos Neto plans to suggest a name for the post, with Banco Santander’s Sandro Sobral gaining momentum among the possibilities, according to people with knowledge of the matter, who asked for anonymity discussing private information. But ultimately it’s up to the president to name Serra’s replacement, and it will most likely not be the most qualified candidate but instead some crony of Lula's. What happens next? Look to Argentina for clues. As for all those in the US deep state and assorted hanger-on billionaires who backed Lula over Bolsonaro, they are following events in Brazil most closely, knowing well that once the inevitable economic crash pans out - as it does every time a socialist is in charge - it will be only a matter of time before they can buy up Brazil's vast riches at pennies on the real. Tyler Durden Tue, 01/24/2023 - 20:45.....»»

Category: blogSource: zerohedgeJan 24th, 2023

Atlanta DA doesn"t want the public to see the special grand jury report into Trump"s efforts to overturn Georgia"s 2020 vote

The judge indicated he wants to make the report public, but may wait until after an indictment decision. Fulton County District Attorney Fani Willis and former President Donald Trump.AP Photo/John Bazemore; MANDEL NGAN/AFP via Getty Images; REUTERS/Jeenah Moon A special grand jury spent months investigating whether Trump and others criminally interfered in Georgia's 2020 election. An Atlanta judge is deciding whether to make the jury's report public. Fulton County DA Fani Willis asked to keep the report secret, and hasn't said whether she'll bring charges. The district attorney investigating former President Donald Trump's attempts to overturn Georgia's 2020 election results asked a judge Tuesday to block the release of a highly anticipated report examining criminal culpability.In an Atlanta courthouse, Fulton County District Attorney Fani Willis said the report, from a special grand jury, should not be released "at this time." She said its release might impact the rights of multiple defendants if her office brings criminal charges."The state understands the media's inquiry and the world's interest, but we have to be mindful of protecting future defendants' rights," Willis said.Willis's arguments came at a hearing held by Fulton County Superior Court Judge Robert McBurney, who's weighing whether to make the report public.McBurney dissolved the special grand jury earlier this month. Since May 2022, it had been hearing evidence brought by the Fulton County district attorney's office. The grand jury's charter gave it the authority to investigate "the possibility of criminal interference in the 2020 general election."The jurors voted to make the report public and, by law, it's supposed to be published. McBurney's hearing Tuesday is over whether the report met the appropriate legal standards for publication. A group of media organizations has intervened in the case, asking for it to be made public as soon as possible."Unresolved is the question of whether the special purpose grand jury's final report constitutes presentment," which would be made public, McBurney wrote in a court order earlier in January.Fulton County District Attorney Fani Willis has not said whether she will refer the report to an ordinary grand jury, which has the power to bring criminal charges. Such a jury would likely move quickly. They typically sit for a maximum of two months, and would review the deposition transcripts and other evidence already gathered by the special grand jury.Willis said Tuesday that "decisions are imminent" in the case.McBurney appeared skeptical that he had any authority to keep the report private. He pointed out that the district attorney's office, witnesses, and jurors themselves were all free to talk about the report's contents. Refusing to publish it, he said, would be an additional gag on a subject of great public interest.It's the DA's investigation, but it's up to the judgeWillis's plans could have great sway over the timing of when the report may be released, according to Ronald L. Carlson, a professor at the University of Georgia School of Law. Her statements and court filings also shaped public knowledge of the special grand jury's activities."As for her timing respecting any potential referral by the DA to a regular grand jury, that could be the subject of an announcement by her," Carlson told Insider. "That was the approach when she initiated the special grand jury last year."Former US President Donald Trump at a rally at the Banks County Dragway on March 26, 2022, in Commerce, Georgia.Megan Varner/Getty ImagesThe investigation was initiated after then-President Donald Trump — who lost Georgia's electoral college votes along with the rest of the 2020 presidential election — tried to overturn his loss. He asked Georgia's secretary of state, Brad Raffensperger, along with other state officials to "find" votes that would eliminate now-Presidet Joe Biden's margin of victory.The special grand jury's role also includes investigating efforts by other officials, including those involved in a scheme to have fake electors falsely certify votes in Trump's favor on January 6, 2021, in Washington, DC.Willis has fought court battles to ensure testimony from a parade of high-profile Republicans involved in the machinations trying to overturn the election, including Mark Meadows, Trump's chief-of-staff at the time; Gov. Brian Kemp; the state's Republican Party chairman, David Shafer; Sen. Lindsey Graham of South Carolina; and more than a dozen others who spoke with Trump at the time. The case had 75 witnesses overall, Willis said Tuesday.At the end of the hearing Tuesday, McBurney said he would "think about this a little bit" and accept additional documentation from the district attorney's office and the media organizations before making a decision about releasing the report.The release could be delayed, or it could be released with redactionsAn analysis from the Brookings Institution found that Trump and the fake electors could face charges of election fraud, improperly trying to influence government officials, and criminal solicitation.In a statement Monday, attorneys representing Trump said they assumed the special grand jury "concluded there were no violations of the law by President Trump."Norm Eisen, a co-author of the Brookings analysis and ethics expert, told Insider that releasing the report could complicate the charging decision for Willis. She may not want it released until a regular grand jury hears evidence and decides whether to bring indictments, he told Insider."It can lead to identifying witnesses, and to potential targets or defendants talking to those witnesses. Even if benign, that's a problem," Eisen said.McBurney said Tuesday that he would give some latitude to the district attorney's considerations about timing. A member of Willis' team said she would not want the report to be kept private "forever.""I appreciate that I could do things to help maintain the investigation and not get it prematurely derailed by things that you ought not to have to deal with until the time is right," McBurney said. "And that's a decision that the district attorney and her team would make as to when the time is right. I that's an important interest to uphold. You've got my full support of that interest."Former U.S. President Donald Trump leaves the stage after speaking during an event at his Mar-a-Lago home on November 15, 2022 in Palm Beach, Florida.Joe Raedle/Getty ImagesEisen pointed out that Trump has a habit of pressuring people not to work against his interests in courts and criminal investigations."There were allegations, for example, in the January 6th investigation that perhaps some of those in Trumpworld may have been seeking to may or may not have been seeking to influence witnesses," Eisen told Insider. "And certainly, Donald Trump has engaged in that kind of conduct before — Robert Mueller identified some in his report and more generally identified 10 instances of possible obstruction of justice."It's also possible we may see the report released with some redactions. Carlson predicted the judge would move swiftly to have it made public."We will see it promptly because media interest is high and there is precedent for release of such documents," Carlson said. "However, there could be some redactions. This would be for material which could arguably fall within attorney client or executive privilege."If Willis brings a criminal indictment against Trump, it would be the first to land amid several ongoing criminal investigations. The Manhattan district attorney's office is also investigating his company's finances, as well as whether he broke campaign finance laws in arranging hush-money payments ahead of the 2016 election for women who said they had affairs with him.Special Counsel Jack Smith, appointed by Attorney General Merrick Garland, is overseeing a criminal investigation into Trump holding onto government documents once he left the presidency. Smith's team is also examining the plot to have fake electors overturn Biden's victory in the 2020 election.In addition to the criminal cases, Trump has a court docket full of civil cases marching forward before the 2024 election. Later this year, he's scheduled to go to trial for cases brought by the writer E. Jean Carroll, who alleges he raped her in the 1990s, and the New York attorney general's office, which claims his company has participated in decades-long financial fraud.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 24th, 2023

Trump called Pompeo "My Mike" when he worked for him, and the ex-secretary of state wondered in his new book if he"d ever earn a new nickname

In comments that seem to be foreshadowing a 2024 run, Pompeo wonders whether Trump will eventually give him a new nickname. President Donald Trump listens to Secretary of State Mike Pompeo during a cabinet meeting at the Cabinet Room of the White House October 21, 2019 in Washington, DC.Alex Wong/Getty Images Trump is famous for giving the people in his life nicknames. He would call Mike Pompeo "My Mike." Pompeo's friends called him "Pomps."  Pompeo wondered whether he'd eventually earn a new nickname in his new book "Never Give An Inch."  Former President Donald Trump is famous for calling people by nicknames he comes up with, many of which stick or get under his opponents' skin. But he had a simple one for Mike Pompeo, his former CIA director and Secretary of State. He called him "My Mike." Pompeo revealed what he called Trump's "favorable" nickname for him in his new book, "Never Give an Inch: Fighting for the America I Love," out Tuesday. "The president often called me 'My Mike,'" he wrote. "I still don't completely understand why he chose this unusual locution, which he has also used with others. But it was better than man other nicknames Donald Trump has bestowed on people." He then went on to muse that Trump might eventually call him something different. Pompeo is considering running for the 2024 Republican nomination for president, which would pit him against Trump, the only person to have officially declared he's running for the White House. "Perhaps, one day, I'll get an updated moniker," Pompeo wrote in his book. Earlier in his memoir he revealed his friends used to call him "Pomps." During his 2016 race for the White House, Trump gave many of his opponents derisive nicknames. He called Republican Sen. Ted Cruz of Texas "Lyin' Ted," former GOP Gov. Jeb Bush of Florida "Low Energy Jeb," and Hillary Clinton "Crooked Hillary."But the 2020 name he had for Joe Biden, "Sleepy Joe," wasn't enough to defeat him. Pompeo also detailed in his book how Trump had to explain the "Little Rocket Man" nickname to Kim Jon Un, because he didn't know who the British singer Elton John was. "Never Give an Inch" presents a friendly relationship between Trump and Pompeo, and in it the former official denies that he tried to have Trump removed from office. Promoting his book on Tuesday on CBS Mornings, Pompeo said he and his wife will make a decision about a 2024 run "in the next handful of months" and that Trump's decision to run again wouldn't affect his choice.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 24th, 2023

Trump poses for photograph with convicted mob boss, in a flashback to controversial dinner with white nationalist Nick Fuentes

Donald Trump posed for a photo with Joseph "Skinny Joey" Merlino, who was once the head of the so-called Philly Mob, per The Philadelphia Inquirer. Former President Donald Trump, left, and a file photo of Joseph “Skinny Joey” Merlino, right, in a composite image.AP Photo Donald Trump was pictured with a man who is a convicted mob boss, per The Philadelphia Inquirer. The former president was criticized for dining with white supremacist Nick Fuentes last November. The ex mob boss, Joseph "Skinny Joey" Merlino, said Trump wasn't aware of who he was. Former President Donald Trump posed for a photo with Joseph "Skinny Joey" Merlino, who was once a Philadelphia mob boss, earlier this month.The photo, obtained by The Philadelphia Inquirer, comes just months after a white nationalist visited Mar-a-Lago for dinner uninvited, supposedly prompting the Trump campaign to enact new protocols to vet people who want to meet him.The grainy photo seems to cast doubt on whether those protocols have been effectively implemented.—American Party® (@AmerPartyPublic) January 24, 2023 Trump, Merlino, and a third unidentified man are pictured in the photograph giving thumbs-ups while at the Trump International Golf Club West Palm Beach in Florida. The photo was widely shared online on Monday, prompting questions as to whether Merlino and Trump knew each other."President Trump takes countless photos with people," a campaign spokesperson told The Inquirer. "That does not mean he knows every single person he comes in contact with."The campaign, however, did not respond to questions from The Inquirer and Insider on whether Trump knew who Merlino was when they took the photo, or if he was aware of Merlino's criminal background at the time.Merlino was reputedly the boss of the so-called Philly Mob, an Italian-American Mafia family. He has spent time in federal prison on racketeering, illegal gambling, and extortion charges.Merlino told The Inquirer that Trump "had no idea" who he was, adding that he was just one of the many people waiting in line to take a photo with the former president.Trump, who is running for president in 2024, received backlash after Nick Fuentes, a self-described white nationalist, turned up to dinner at Mar-a-Lago with Kanye West, who goes by Ye, late last year.The incident reportedly led to his campaign introducing new rules to ensure that people who meet with him are approved and fully vetted, according to the Associated Press.The new protocols are meant to ensure that a senior campaign official is present with Trump at all times, according to those familiar with the arrangements.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 24th, 2023

Trump had to explain his "Little Rocket Man" nickname to Kim Jong Un, Mike Pompeo says in new book

Trump explained the reference over lunch during a summit in Singapore. Kim liked the Elton John reference, but not that Trump called him "little." President Donald Trump and North Korea's leader Kim Jong-un talk before a meeting in the Demilitarized Zone on June 30, 2019, in Panmunjom, Korea.Photo by Brendan Smialowski /AFP via Getty Images Trump had to explain to Kim Jong Un that his "Little Rocket Man" nickname was an Elton John reference. Kim told him that he didn't like the "Little" part of the nickname.  Pompeo revealed the exchange in his new book, "Never Give an Inch: Fighting for the America I Love."  North Korean leader Kim Jong Un didn't understand the "Little Rocket Man" nickname Donald Trump gave him, so the ex-president took it upon himself to explain it over lunch, says a new book. Trump started by asking Kim over a meal at the Singapore summit on June 12, 2018, whether he knew who Elton John was, according to the book "Never Give an Inch: Fighting for the America I Love," by former Secretary of State and CIA director Mike Pompeo that's coming out Tuesday. When Kim said no, Trump explained that the British singer's 1972 hit song "Rocket Man" inspired him to give Kim the nickname in 2017. "Trump said it was a great song, and he intended the reference as a compliment," Pompeo wrote. Kim and others at the lunch laughed, and Kim said, "'Rocket man,' OK. 'Little,' not OK." During his 2016 race for the White House, Trump gave many of his opponents catchy nicknames. He called Republican Sen. Ted Cruz of Texas "Lyin' Ted," former GOP Gov. Jeb Bush of Florida "Low Energy Jeb," and Hillary Clinton "Crooked Hillary."Trump first referred publicly to Kim as "Little Rocket Man" on Twitter in 2017 and repeated it at a UN General Assembly speech and throughout his presidency.Kim had lobbed insults back in Trump's direction, calling him "a frightened dog" and a "dotard." Trump shot back with warnings during his presidency that continued threats against the US would be "met with fire and fury like the world has never seen" and that his "nuclear button" is "much bigger & more powerful" than that of the North Korean leader. But the two men also displayed a public show of affection. Trump later gifted a cassette of the song to Kim and played it for him, he told an audience gathered in Sunrise, Florida, in 2021. Trump shared that he told Kim, "'I called you Rocketman — that was great — because I could see you, I could envisage you, sitting like you sit on a horse, on a saddle, sitting on a rocket flying over Japan.'" The South Korean newspaper Chosun Ilbo reported in 2018 that Pompeo brought a CD John signed to lunch with Kim after Trump told him to, though that detail doesn't appear in Pompeo's book.Kim and Trump met for the first time at the Singapore summit to discuss denuclearization of the Korean Peninsula. Pompeo, who is among more than a dozen Republicans who are considering running for president in 2024, recounted the face-to-face in his forthcoming book. "I watched from the meeting room and noticed immediately that my North Korean friend wore platform shoes that left him about a foot shorter than President Trump," he wrote. "At somewhere around five feet five, Chairman Kim could not afford to give an inch — literally." Read the original article on Business Insider.....»»

Category: smallbizSource: nytJan 23rd, 2023

Nancy Pelosi says age is not "a positive thing" for Biden as the 80-year-old president ponders launching a re-election campaign

Pelosi said Biden "has done a great job" as president. But she also said Democrats have "other great candidates" who could beat Trump in 2024. President Joe Biden and then-House Speaker Nancy Pelosi at the Capitol on March 29, 2022.Tom Williams/CQ-Roll Call via Getty Images Former House Speaker Nancy Pelosi weighed in on Biden's presidency in a recent interview. She praised Biden's performance, but suggested that age factors negatively into his re-election plans. She also said the Democratic Party has "other great candidates" that could beat Trump in 2024. Former House Speaker Nancy Pelosi recently stepped down from her position in leadership. While she won't urge President Joe Biden to follow her lead, she suggested that age is one reason why he could consider not running again."Is age a positive thing for him? No," Pelosi told the New York Times in an interview published on Saturday, saying Biden would have to weigh the pros and cons of making such a decision.But Pelosi, 82, also said the 80-year-old Biden "has done a great job" and said it would be his decision to make — for her part, she's said publicly that he should run again in 2024."He has just done so many things that are so great," Pelosi said in November. "He's put money in people's pockets, vaccines in their arms, children back to school, people back to work — for starters."She also told the Times that age is "a relative thing" that doesn't necessarily correlate with the ability to do the job.But she also said that Biden is not the only Democratic candidate that could beat former President Donald Trump in 2024. "I think we have other great candidates when the time comes," she said.While Trump has already launched his own re-election bid, Biden is still in the planning stages. According to one recent report, he could announce as soon as next month. If he were to run again and win, he would be 86 when he finishes his second term in 2028.In recent years, discussion of age in politics and so-called "gerontocracy" — rule by the elderly — has only grown, with some even floating the idea of an age limit for political office. Insider recently explored the topic in our "Red, White, and Gray" series. After serving as the top House Democrat for over 20 years — including two stints as speaker of the House — Pelosi stepped down at the end of last year, with Democratic Rep. Hakeem Jeffries of New York taking her place. She continues to serve in Congress as a rank-and-file member, representing her San Francisco-based district.Read the original article on Business Insider.....»»

Category: dealsSource: nytJan 23rd, 2023

Trump wants to ditch his deal to post first on Truth Social and return to Twitter, report says

Trump is considering axing an exclusivity agreement with Truth Social to return to Twitter as the 2024 presidential campaign ramps up, reports say. Donald Trump was banned from Twitter two days after the January 6 Capitol riot.Alex Brandon/AP Trump wants to end an exclusivity deal with Truth Social and get back on Twitter, Rolling Stone reported. Truth Social CEO Devin Nunes denied an earlier report that Trump wants to make the switch. The exclusivity agreement is up for renewal in June, just as the campaign season heats up. Former President Donald Trump is preparing a Twitter comeback, with plans to drop an exclusivity agreement he has with his own platform, Truth Social, according to reports.Trump has recently told people close to him that he doesn't want to renew the agreement with Truth Social's parent company, TMTG, two people familiar with the matter told Rolling Stone.SEC filings show that Trump is currently obliged to wait six hours after posting on Truth Social before posting the same content on any other social media platform, an agreement that is up for renewal in June.The agreement only applies to non-political content — he can post "political messaging, political fundraising or get-out-the vote efforts" anywhere at any time, the agreement states.Trump hasn't tweeted since being reinstated on the platform in mid-November, following Elon Musk's takeover of the company, which heralded a shake-up of its moderation decisions.Trump was kicked off of Twitter shortly after the deadly Capitol riot of January 6, 2021.One anonymous Republican told NBC News that Trump is now plotting a return to the platform. "Trump is probably coming back to Twitter. It's just a question of how and when," they said. "He's been talking about it for weeks."Another told Rolling Stone that Trump "didn't want to make commitments" over the exclusivity agreement.Spokespeople for both Trump and TMTG did not immediately respond to Insider's request for comment. The possible return to Twitter — and the lobbying to revoke a similar ban on Facebook — comes ahead of the 2024 presidential election cycle, due to heat up with the GOP convention in June. It also brings its own calculus — mostly when it comes to sheer reach. While Trump has just shy of 5 million followers on Truth Social, he has almost 88 million followers on Twitter.Observers of Trump's meteoric political rise have long tied it to the cut-and-thrust of his tweeting, which is credited with changing the tone of the US presidency.But there's a business dimension. Twitter is, after all, a direct competitor to Truth Social, and the move might alienate some of his most fervent fans, who mistrust Twitter, as Insider's Beatrice Nolan reported. Devin Nunes, CEO of TMTG, told Newsmax in reaction to the NBC News report that Trump has "no interest in going back to Twitter."Nonetheless, according to Rolling Stone, a person close to the president said there is "no way" Nunes' statement is true.Instead, Trump and people familiar with the matter have been toying with how to frame his return, the outlet reported.Among the ideas being floated is for a WWE-style campaign video post, or one comparing himself to Superman, according to Rolling Stone. Read the original article on Business Insider.....»»

Category: worldSource: nytJan 23rd, 2023

Two Democrats Call For Investigation Into Biden Classified Documents Case

Two Democrats Call For Investigation Into Biden Classified Documents Case Authored by Jack Phillips via The Epoch Times, At least two Democratic senators have called for a full investigation into President Joe Biden’s handling of classified materials after several batches of documents were found at an office and his home in Delaware. “The reports about President Biden’s mishandling of classified documents are extremely irresponsible and disturbing,” Manchin (D-W. Va.) told Fox News on Jan. 20. “These allegations should be investigated fully.” The development “raises serious questions, and the appointment of an unbiased special prosecutor to investigate the matter is the right step,” Sen. Tim Kaine (D-Va.) told Fox. Sen. Debbie Stabenow (D-Mich.), who recently confirmed she wouldn’t be running for re-election in 2024, told NBC News last week that the reports of handling classified documents is a bad look for the White House. “Well, it’s certainly embarrassing. Right?” Stabenow stated. “I mean, it’s embarrassing that you would find a small number of documents, certainly not on purpose. They don’t think it’s the right thing and they’ve been moving to correct it, working with the Department of Justice, working with everyone involved, with the [National] Archives, and so from my perspective, you know, it’s one of those moments that obviously they wish hadn’t happened.” Their comments came just hours before Biden’s lawyer confirmed the Department of Justice (DOJ) searched his home, while an FBI spokesperson confirmed the search to Fox News on Saturday. The search of his Delaware residence reportedly lasted hours, the FBI said. “DOJ took possession of materials it deemed within the scope of its inquiry, including six items consisting of documents with classification markings and surrounding materials, some of which were from the President’s service in the Senate and some of which were from his tenure as Vice President,” Bob Bauer, his attorney, said. “DOJ also took for further review personally handwritten notes from the vice-presidential years.” Sen. Joe Manchin (D-W. Va.) speaks to reporters in the Hart Senate Office building in Washington, on Aug. 1, 2022. (Anna Moneymaker/Getty Images) Assistant U.S. Attorney Joseph Fitzpatrick confirmed Saturday that the FBI had executed “a planned, consensual search” of the president’s residence in Wilmington. The president and first lady Jill Biden were not at the home when it was searched. They were spending the weekend at their home in Rehoboth Beach, Delaware. Speaking to reporters during a trip to California on Thursday, Biden said he was “fully cooperating and looking forward to getting this resolved quickly.” “We found a handful of documents were filed in the wrong place,” Biden said. “We immediately turned them over to the Archives and the Justice Department.” The Biden investigation has also complicated the Justice Department’s probe into Trump’s retention of classified documents and official records after he left office. The Justice Department says former President Donald Trump took hundreds of records marked classified with him upon leaving the White House in early 2021, and that it had to obtain a search warrant to retrieve them. After the initial discovery of Biden’s documents, Trump has asserted that the DOJ is treating the president differently. “When is the FBI going to raid the many homes of Joe Biden, perhaps even the White House?” Trump asked in a social media post earlier in January. Attorney General Merrick Garland has appointed former Maryland U.S. Attorney Robert Hur as a special counsel to investigate any potential wrongdoing surrounding the Biden documents. Hur is set to take over from the Trump-appointed Illinois U.S. Attorney John Lausch in overseeing the probe. “Since the beginning, the President has been committed to handling this responsibly because he takes this seriously,” White House lawyer Richard Sauber said Saturday. “The President’s lawyers and White House Counsel’s Office will continue to cooperate with DOJ and the Special Counsel to help ensure this process is conducted swiftly and efficiently.” Tyler Durden Sun, 01/22/2023 - 17:30.....»»

Category: personnelSource: nytJan 22nd, 2023