上海夜生活,上海夜生活网,上海夜网论坛 - Powered by aohkcbcv

For stock performance under Trump, don’t look to prior transitions

NEW YORK ( ) – As he is sworn in as the 45th U.S. president on Friday, Donald Trump will mark one of the best performances for the American stock market for any presidential transition period of the modern era.

But the market’s 5.8 percent rise since his Nov. 8 election may not portend much for stocks once the Republican takes office. For guidance, investors need only recall the oscillations under the outgoing administration.

Democratic President Barack Obama’s transition period, which came amid the throes of the 2008 financial crisis, also overlapped a 15.5 percent fall for the S&P 500 .SPX from his election to the day of his inauguration. That swoon – which was as much as 25.2 percent at one point – is by far the worst performance for U.S. equities during a presidential transition.

Since then, Obama has presided over the second-best run for the stock market under any president since Republican Dwight Eisenhower, with the benchmark S&P rising nearly 170 percent while he was U.S. leader from 1953 to 1960.

Democratic President John Kennedy, meanwhile, had the best transition period for stocks, which rose 8.5 percent between his November 1960 election and Ja,上海夜网推油Larissa,nuary 1961 inauguration. After that, the market rose a paltry 19.8 percent during his administration, which was cut short by his assassination on Nov. 22, 1963.

“People put a lot of weight into what they said on the campaign trai,上海新夜网龙凤Dakota,l, as if they are going to get these things through ex,上海夜生活去哪玩Landon,actly as they said or even propose them exactly as they said,” said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

“The上海夜网 reality of the office is people forget it is politics – politics is all about making a deal.”

Stocks tend to rise regardless of which party holds power. Two exceptions were both Republicans: Stocks fell 20.1 percent under Richard Nixon and 36.7 percent under George W. Bush.

Bush had the most days with the stock market trading below where it closed on his inauguration day: 1,608 days, or almost 80 percent of his presidency.

Democratic President Lyndon Johnson’s tenure tells a rosier story for equities investors. The stock market traded higher than it closed on Johnson’s 1963 inauguration for every day he was in office, 1,346 days in all.

The market’s best performance during a president since the Eisenhower administration came under Democrat Bill Clinton, with stocks soaring nearly 210 percent.

Action in the options market on Wednesday indicated investors were exercising caution ahead of Trump’s inauguration, with a massive trade in SPDR S&P 500 ETF Trust (SPY.P) puts.

Presidents “only have so much power, and if (Trump) can’t get Congress, even though it is all one party, if they can’t agree on what it is they want to push through, it is going to be very, very difficult,” said Kinahan.

Infographic ID: ‘2jGTgJi’

Virginia attorney general apologizes for role in gift scandal

RICHMOND, Virginia ( ) – Virginia’s Republican gubernatorial candidate on Tuesday said he would give a charity $18,000, the value of gifts he received from a political donor whose gift-giving sparked a federal investigation.

Attorney General Ken Cuccinelli accepted $18,000 in gifts from Virginia-based dietary supplement maker Star Scientific Inc, and its chief executive, Jonnie Williams. The gifts included vacation stays at Williams’ former lakeside mansion in Virginia, a jet flight and a catered Thanksgiving dinner.

Federal authorities are investigating Republican Governor Bob McDonnell and his family for accepting more than $160,000 in gifts and loans from Star Scientific, a major donor to McDonnell’s campaign.

Cuccinelli, who will face former Democratic National Comm,上海夜生活去哪玩Octavien,ittee Chairman Terry McAuliffe in November’s gubernatorial election, apologized on Tuesday for his role in the scandal.

“For those who’ve been disappointed in this situation or how I’ve handled it, I apologize. It’s been a humbling set of lessons for me,” he said in a statement.

Cuccinelli said he had written a check for the value of the gifts he received from Williams to the CrossOver Healthcare Ministry, a Richmond-based charity. He said the money came from personal funds. CrossOver’s website describes the charity as Virginia’s largest free healthcare clinic.

McDonnell, who has faced calls for his resignation over his relationship with Star Scientific, said in July he had repaid $120,000 in loans to Williams, and would return all gifts, including a Rolex watch.

In July, Cuccinelli stated he could not return the gifts, saying, “Some bells you can’t unring.”

Later, the attorney general said he would return the value of the gifts if he could, but his family’s finances wo上海夜网uld not permit it.

In recent,上海夜生活Gabriella, polls, Cuccinelli has trailed Democrat McAuliffe in the governor’s race.

A m,上海凤楼夜网Tamara,id-August poll by Quinnipiac University gave McAuliffe a 6-point lead. A survey of 653 registered voters released August 30 by the Emerson College Polling Society said McAuliffe held a 10-point lead over Cuccinelli.

South Korea’s Netmarble seeks M&As, U.S. expansion: founder

SEOUL ( ) – South Korea’s largest mobile game company, Netmarble Games Corp, is seeking more mergers and acquisitions and intellectual property rights to expand its share of the gaming market in North America and Europe, its founder said.

The Tencent-backed (0700.HK) firm – with plans for a public listing estimated at billions of dollars in the first half this year – aims to raise its ranking in key markets to reach its goal of becoming a global top 5 game company by 2020,上海夜生活服务Cain,, Bang Jun-hyuk told .

Netmarble wants to place within the top 10 in mobile games in China and Japan, Bang said on the sidelines of a news conference on Wednesday.

“The global game market’s wave of M&As that began in 2016 is expected to continue to the first half of 2018,” the 48-year-old controlling shareholder said. “After the market is reorganized, the remaining major companies’ profits are expected to rise.”

Netmarble, which CLSA valued at 14.3 trillion won ($12.3 billion) in a Jan. 17 report, will look to the initial public offering to build up funds for mergers and acquisitions and other investments, to help reach its target of 5 trillion won in sales by 2020.

It reported 1.5 trillion won in 2016 provisional sales, up from 1.07 trillion won in 2015, helped by its blockbuster role-playing game “Lineage 2: Revolution” which earned 206 billion won in first-month revenue since launching in one country, South Korea, in December.

The 2016 hit Pokemon Go reported about $200 million in first-month revenue, according to data provider Sensor Tower.

South Korea is the world’s fourth-largest games market behind China, the United States and Japan with annual revenue of around $4 billion, ,上海夜生活论坛Jackson,according to June 2016 data from research firm Newzoo.

Bang said the company plans to make role-playing games, in which participants assume the role of a character and interact within the game’s imaginary world, more mainstream in North American and European markets where strategy games dominate.

Netmarble has invested in mobile game studios in the United States and Canada. However, the need for a bigger war chest was evident when it lost out last year to a Chinese consortium including Alibaba’s Jack Ma that offered $4.4 billion in cash to buy Caesars’ online game unit.

Aside from plans to take “Lineage 2: Revo上海夜生活lution” global, Netmarble announced on Wednesday plans for 17 new games, with some based on franchises such as Transformers and G.I. Joe.

Bang said there would also be 4 games developed for China. “Going forward, we have a target of releasing major games in China and Japan,” he said.

Bang, a high school dropout who founded Netmarble in 2000 after two previous start-up failures, sold management control to South Korean conglomerate CJ Group in 2004 but returned to lead a struggling Netmarble in 2011.

He owns a 32.4 percent stake in the firm, while Tencent Holdings Ltd holds a 25.3 percent stake through an investment vehicle.

Netmarble received Korean exchange approval for an IPO in December 2016. JP Morgan (JPM.N) and NH Investment & Securities,上海仙霞路夜生活Lance, (005940.KS) are advisers.

G7 nations close to agreement on tackling Amazon fires: Macron

BIARRITZ, France ( ) – French President Emmanuel Macron said on Sunday the leaders of the world’s major industrialized nations were close to an agreement on how to help fight the Amazon forest fires and try to repair the devastation.

“There’s a real convergence to say: ‘let’s all agree to help those countries hit by these fires’,” he told reporters in Biarritz, which is hosting the annual summit of leaders from the Group of Seven nations.

He said the G7 countries comprising the United States, Japan, Germany, France, Italy, Britain and Canada, were finalizing a possible deal on “technical and financial help”.

Macron shunted the Amazon fire,上海夜哪里艳遇Hadrian,s to the top of the summit agenda after declaring them a global emergency, and kicked off discussions about the disaster at a welcome dinner for fellow leaders on Saturday.

An EU official, who declined to be named, said the G7 leaders had agreed to do everything they could to help tackle the fires, giving Macron a mandate to contact all the countries in the Amazon region to see what was needed.

“It was the easiest part of the talks,” the official said.

A record number of fires are ravaging the rainforest, many of them in Brazil, drawing international concern because of the Amazon’s importance to the global environment.

Macron last week ,上海新夜网龙凤Naia,accused Brazilian President Jair Bolsonaro’s government of not doing enough to protect the area and of lying about its environmental commitments.

Macron said on Sunday world powers needed to be ready to help with reforestation, but acknowledged there were different views over this ,夜上海419龙凤论坛Kade,aspect, without going into details.

“There are several sensitivities which were raised around the table because all of that also depends on the Amazon countries,” he said, adding that the world’s 上海夜生活论坛biggest rainforest was vital to the future of the planet.

“While respecting sovereignty, we must have a goal of reforestation and we must help each country to develop economically,” he said.

Nomura cuts recommendation on HK stocks as protests, trade war…

HONG,上海夜生活服务Gabriella, KONG ( ) – Japanese brokerage Nomura (8604.T) downgraded its recommendation on Hong Kong stocks on Monday as violent protests and a worsening U.S.-China trade war darkened the outlook for the former British colony’s businesses.

Anti-government demonstrations in the city escalated over the weekend with protesters hurling Molotov cocktails at security forces who responded with water cannon and tear gas, as protests entered their third month.

“We are concerned that the ong,上海足浴夜网联系方式Radley,oing political tensions in HK are now affecting the key pillars of the economy (such as retail sales, tourism, property prices) and thus the outlook of corporate earnings,” Nomura said in a research note on ,上海夜生活桑拿会所Kade,Monday.

Nomura has cut its rating on MSCI’s basket of Hong Kong companies .dMIHK00000PUS to “underweight” from “overweight”.

Hong Kong is bracing for its first recession since the financial crisis.

The protracted U.S.-China tariff war is also piling pressure on the trade-reliant territory, with yuan CNY=CFXS CNH=D3 depreciation hurting the valuation of Chinese companies listed in the financial center, said Nomura.

Over the weekend, the United States added tariffs on some $550 billion of Chinese goods, hours after China unveiled retali上海夜生活论坛atory tariffs on $75 billion worth of U.S. goods.

The Chinese currency has lost 3.7% so far this month as the trade war escalated. It was down 0.6% as of midday local time.

Missing hiker in Italy spotlights need for new phone geolocation tech

PARIS ( ) – Badly injured on a cliffside in southern Italy, a French hiker called emergency services this month, but he could not tell them exactly where he was after a fall that broke his legs.

It took rescuers nine days to locate Simon Gautier’s body, but it could have been found much sooner had Italy installed a new emergency mobile phone geolocation system that is in operation in a dozen European countries, according to the European Emergency Number Association (EENA).

It might also have saved Gautier’s life had emergency services been able to locate him quickly, although it later emerged that the hiker had died soon after making the call from a ravine on the rugged coastline south of Naples.

Brussels-based EENA lobbies European Union (EU) countries to adopt the Advanced Mobile Location (AML) system, which can be a matter of life or death in search-and-rescue missions.

“Member states have a moral obligation to implement AML but some have not done it yet because there is no pressure,” EENA spokesman Benoit Vivier said.

As of December 2020, AML will be required for all EU member states, in line with legislation passed in late 2018 that builds on 2009 and 2002 EU directives. Member states that do not comply will be fined.

The new emergency system is up to 1,000 times more precise than older mobile phone geolocation systems, which can triangulate a caller’s position to within only about two kilometers (1.2 miles) in a city or 20 km in the countryside.

AML can pinpoint a person’s location down to within two meters (yards) and when someone phones emergency services, the system transmits the caller’s coordinates at the same time,上海仙霞路夜生活Macauly,.


The technology has been deployed in 12 European Union countries, including Britain, the Netherlands and Austria, where it was used last year to save a paraglider who had gone off course and hurt his legs upon landing.

In Lithuania, a seven-year old boy called emergency services in 2017 to report that his father was unconscious but he did not know his address. The emergency location feature in the Android phone used to make the call located it within 6 meters (20 ft)and allowed emergency services to arrive at the right place.

Geolocation and rescuers’ response time are key questions for Italian prosecutors, who have opened an investigation into why it took so long to locate Gautier.

The Salerno prefectur上海夜网e, which administers the area where the Gautier disappeared, said a search began immediately but that geolocation was inaccurate and that the search area ,上海夜生活论坛Fabi,was as large as 140 sq km (54 square miles).

The head of Italy’s emergency response network, Mario Balzanelli, told,上海021夜网Radley, Italian media that Gautier would have been swiftly rescued if Italy had applied the EU directive on the geolocation of emergency calls.

“This case points to the glaring, absurd and untenable fact that in Italy the 118 (emergency) switchboards still do not have the emergency call geolocation system, despite the fact this was called for by an industry ministry decree in 2009,” he was quoted as saying by ANSA news agency.

Gautier’s friends and relatives have also denounced the slowness of the rescue operation, saying more could have been done. His mother called the operation “absolutely inadequate.”

Italian newspapers quoted medical sources on Tuesday as saying that an initial medical examination had shown Gautier had died about 40-45 minutes after he made his call to 118.

He suffered a haemorrhage caused by his broken leg cutting an artery, and even with an active geolocation system, rescuers would not have had time to get to him alive, they said.

Postcard from HK frontline: Why a student throws bricks at police

HONG KONG ( ) – Pun, 22, was still at the Hong Kong airport on the morning of Aug. 14 after a night of clashes with police, when protesters also controversially harassed two mainland Chinese and caused all flights to be canceled for the day.

He has participated in violent confrontations with the police since early June, when unrest erupted over a now-su,上海夜生活网交流Hal,spended extradition bill. The movement then morphed into a broader pro-democracy campaign.

This is what Pun, who like most protesters did not want to give his full name, had to say:

“I do want to apologize to the tourists but at the same time I do feel it is the lack of response from the government pushing us to pursue more aggressive means.”

“It is very important people are willing to fight for what they deserve. If we stop now ,上海夜网千花Octava,we will fall into a deeper hole than we can ever imagine.”

“We are only fighting to preserve what’s been promised to us. We are not trying to overthrow the government or cut ourselves off from China. But we fight for our ri上海夜生活网ghts; democracy was promised as part of ‘one country, two systems’.”

“I ,上海夜生活怎么玩Qirin,was born in 1997, the year Hong Kong was returned to China. I always knew that when I turn 50 Hong Kong will become a part of China. But the problem is we are already becoming that.”

“When I am on the frontline I feel scared but also I feel that extreme passion of wanting to cause something to happen. You don’t know when a rubber bullet might hit you or when tear gas might explode near you or when police may catch you.”

“On the 28th (of July) I was very close to the police, we had to run away, me and my friend, but he got caught. And I’ve been thinking: why does he get arrested and not me? Am I lucky or am I a coward?”

“The future is unknown and mysterious. But who expected that we would still be fighting after two months? We have evolved so much, we are constantly changing, constantly adapting, constantly improving.”

Democrat Buttigieg unveils plan to fight racism in America

( ) – Democratic presidential candidate Pete Buttigieg, the mayor of South Bend, Indiana – whose campaign has been dogged by accusations of systemic racism in his city as he struggles to gain support from African-American voters – on Thursday announced a plan to battle racial inequality in America.

Buttigieg, who is white and has seen issues of race flare up in South Bend after the fatal shooting of a black man by a white police officer last month, unveiled details of a wide-reaching plan focused on healthcare, education, criminal justice reform and home ownership.

The 37-year-old mayor and combat veteran has been barely registering with black voters in opinion polls tracking the Democratic nominating contest, where 25 men and women are currently vying to become the candidate to take on Republican President Donald Trump in the November 2020 election.

A /Ipsos poll released last week found no measurable support nationally for Buttigieg among African-Americans. Winning a Democratic nomi上海夜网nating contest is extremely difficult without significant support from black voters.

Buttigieg’s “Douglass Plan,” first announced during an interview on National Public Radio’s news show “Morning Edition,” is aimed at fighting systemic racism, and is named after abolitionist Frederick Douglass.

It would establish a $10 billion fund for black entrepreneurs over five years, invest $25 billion in historically black colleges, legalize marijuana, expunge past drug convictions, reduce the prison population by half and pass a new Voting Rights Act to further empow,上海夜生活论坛Gabi,er the federal government to ensure voting access for minority voters.

His campaign says the proposal is equal in scale to the Marshall Plan, which used today’s equivalent of about $100 billion to rebuild Euro,上海夜网Octavia,pe after World War Two. Buttigieg’s plan would be enacted alongside potential direct reparations for slavery, not in place of potential reparations.

“If you’re a white candidate, it is twic,上海夜生活乌托邦Sabia,e as important for you to be talking about racial inequality and not just describing the problem – which is fashionable in politics – but actually talking about what we’re going to do about it,” Buttigieg told NPR.

The unhappiness of some black voters in South Bend has been an unwelcome issue for Buttigieg’s campaign, and underscores long-simmering racial tensions in the city, where 27% of the population is black.

Those tensions exploded into view at a June 23 meeting Buttigieg held with residents after the fatal shooting of a black man, 54-year-old Eric Logan, by a white police officer.

Buttigieg was booed and heckled by some black audience members, who complained not only about what they said is a racist police force but about broader racial inequality in the city he has led since 2012.

Buttigieg admitted he had “failed” to make the police force – just 6% black – more diverse. “I couldn’t get it done,” he said during the first Democratic presidential debate last month.

Buttigieg’s debate performance drew widespread praise and overall in the polls he has been showing growing strength. Earlier this month his campaign announced a huge fundraising haul of $24.8 million between April and June.

Argentine presidential front-runner seeks alternatives to…

BUENOS AIRES ( ) – Economic advisers to Argentina’s presidential front-runner and opposition leader Alberto Fernandez said he would seek alternatives to the current administration’s austerity measures in a meeting with the new Treasury Minister on Wednesday.

Center-left Peronist Fernandez, who is expected to win Argentina’s Oct. 27 presidential election after his resounding lead in the Aug. 11 primary vote, has been critical of last year’s massive $57-billion standby agreement with the International Monetary Fund and the austerity measures that were imposed in its wake. He has pledged to “rework” it if elected.

Argentina electio,上海夜网后花园Easton,n interactive: here

Argentine asset prices went into ,上海夜生活怎么玩Dakota,a tailspin last week after the primary result raised fears of a return to former interventionist economic policies.

As President Mauricio Macri sought to calm markets this week, he appointed a new Treasury Minister, Hernan Lacunza.

Lacunza, who was sworn in to the position on Tuesday, said he was meeting with Fernandez’s economic advisers on Wednesday because “it matters what the other candidates and their economic teams say.”

“We agreed to guarantee the stability of the economy,” a Treasury Minister spokesman told following the meeting.

Earlier on Wednesday, Lacunza said Argentina would not allow a chaotic fall in the peso and would use its dollar reserves to bolster the currency against the political uncertainty that erupted after the primary election.

The central bank auctioned a total $94 million in reserves during the day, traders said. The bank has spent a total $709 million to bolster the peso since Macri was thrashed in the primary nominating contest by Fernandez.

The peso closed 0.53% weaker at 55.03 to the U.S. dollar while bond prices rose slightly and the local M,上海夜生活Ebba,erval stock index closed with a gain of 2.6%, suggesting recent market jitters had begun to calm.

“We will not allow an irrational run on the currency. That’s why we have international reserves,” Lacunza told local radio station Mitre in an early morning interview, less than 24 hours after being sworn in as treasury chief.

But after the markets closed on Wednesday, debt ratings agency Fitch said the peso’s recent depreciation “suggests a real risk of default” and “raises the potential for a sharper deterioration in economic growth.”

A statement sent by Fernandez’s “Frente de Todos” coalition after the Lacunza meeting said it was committed to complying with all current obligations and contracts but wanted an “alternative economic model that prioritizes price stability and the recovery of growth and employment.”

Fernandez’s advisers also discussed with Lacunza their concern over the declining international reserves, high inflation, fuel prices and a new cut on sales tax for some food products, the statement said.

In a bid to shore up his flagging support, Macri last week enacted a series of emergency measures, including cuts in food and personal income taxes aimed at helping families stung by Argentina’s recession and 55% inflation rate.

Macri took office in late 2015, promising to “normalize” the economy after years of heavy-handed currency controls and other interventions in the markets under previous president Cristina Fernandez de Kirchner, who is running as Alberto Fernandez’s vice presidential candidate.

But Macri over-estimated his ability to attract the foreign direct investment needed to make the economy grow, while under-estimating the effect that cutting public utility subsidies would have on inflation. His popularity fell as consumer prices, especially home上海夜生活 heating gas and electricity bills, shot higher.

Lacunza said earlier on Wednesday that Argentina would hit its target of erasing the country’s primary fiscal deficit this year, under the terms of the 2018 IMF agreement. Macri negotiated the pact to halt a run on the peso last year.

Argentina election: here

Trump, Congress leaders reach deal on debt limit, spending caps

WASHINGTON ( ) – President Donald Trump and U.S. congressional leaders reached a deal on Monday on a two-year extension of the debt limit and federal spending caps that would avert a feared government default later this year but add to rising budget deficits.

“I am pleased to announce that a de上海夜生活al has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi, and House Minority Leader Kevin McCarthy,” Trump said on Twitter.

Schumer and Pelosi promptly issued a statement confirming the agreement, saying the measure would be voted on “swiftly” in the Democratic-led House of Representatives. The Republican-led Senate must also pass the measure before it can be signed into law by Trump.

Pelosi has been pushing to win passage by this week, before the start of a long summer recess that extends to Sept. 9.

Final details between the Trump administration and congressional leaders were worked out as Pelosi talked by telephone from a delayed commercial flight to Washington following a speech she delivered earlier in the day in Detroit, a Pelosi aide said.

Under the agreement, which was the result of weeks of closed-door negotiations, the Treasury Department’s borrowing authority would be extended through July 31, 2021. Without legislation, Treasury could bump up against its borrowing limit before Sept. 9, according to some recent estimates, potentially triggering a default on some debt.

Related CoverageTrump cites very good talks with Congress on debt ceiling

The pact would also set overall spending levels for the next two years on both defense and non-defense programs operated by the federal government.

Under the deal, spending on those “discretionary” programs would rise to $1.37 trillion in the fiscal year starting Oct. 1, up from $1.32 trillion this year, according to a congressional source.

In fiscal 2021, spending would rise at a slower pace, to $1.375 trillion.

Of the $1.37 trillion next year, military spending would reach a maximum of $738 billion, up from $716 billion this year. Non-defense appropriations would be capped at $632 billio,夜上海论坛Jacob,n in fiscal 2020, up from $605 billion this year.

McConnell, a Republican, praised the pact, saying it “secures the resources we need to keep rebuilding our armed forces,” while not specifically mentioning rising non-defense outlays.

A senior Democratic aide in Congress noted that if enacted into law, non-defense domestic funding would be $100 billion higher than when Trump took office in January 2017 – a figure likely to bring criticism from conservatives.

Earlier on Monday, a source close to the talks said the deal would include about $75 billion in what are being described as partial “offsets” to higher spending over the next two years.


Even before the agreement was announced, some outside experts were criticizing it.

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said it “may end up being the worst budget agreement in our nation’s history.”

If enacted into law, she said in a statement, Trump would have increased discretionary spending by as much as 22 percent over the course of his four-year term “and enshrined trillion-dollar deficits into law.”

Those deficits would accelerate a $22.4 trillion U.S. debt that was already growing in part as a result of tax cuts Trump and his fellow Republicans in Congress approved in 2017.

Even with an agreement enacted into law, Congress must pass spending bills to implement it. Lawmakers face a Sept. 30 deadline – the end of the current fiscal year – to pass those bills or tempora,上海新夜网龙凤Jackson,rily extend current spending while new legislation is brokered.

Last December, Republican leaders thought they had a deal with Trump on legislation funding government activities for the current fiscal year. At the last minute, he demanded more money so he could build a wall along the U.S.-Mexico border to keep immigrants from entering the country illegally.

Democrats objected to border wall funding and the breakdown led to record-long, partial government shutdowns until Trump relented.

If the latest budget deal negotiated by the Trump administration and congressional leaders becomes law, it would mark the final chapter of a 10-year budget law enacted in 2011 that was designed to bring down federal spending through potentially steep across-the-board cuts.

But the reductions under the Budget Control Act of 2011 ,上海仙霞路夜生活Larissa,were regularly waived and U.S. deficits are now approaching $1 trillion a year.

Zimbabwe charges former Mugabe deputy with abuse of office

HARARE ( ) – Phelekezela Mphoko, a former deputy to ousted Zimbabwe president Robert Mugabe, was charged on Wednesday with criminal abuse of office, his lawyer said, in the latest move by the new anti-corruption commission.

The court freed Mphoko on bail. He denies all the charges, his lawyer Zibusiso Ncube said.

Mphoko lost his vice presidential post when a military coup forced Mugabe to resign in 2017 after 37 year上海夜网s in power and led to presidential elections won by longtime Mugabe associate Emmerson Mnangagwa.

Ncube said Mphoko was being accused of using hi,上海夜哪里艳遇Octavia,s position to force police to release from their custody suspects who were facing corruption charges in 2016. The ex-vice president also faces a lesser charge of obstructing justice, Ncube said.

A new Zimbabwe Anti-Corruption Commission appointed in Jul,上海夜生活去哪玩Paige,y was given the power to arrest suspects, but critics question whether it will be effective.

A previous anti-graft agency failed to tackle corruption among the political elite and many Zimbabweans believe those behind corruption are politically connected and may not be touched.

The commission last month charged a sitting cabinet minister, Prisca Mupfumira, with corruption involving $95 million. Mupfumira was early this month fired from her tourism ministry job.

Mupfumira was the first senior government official to be interrogated by the commission, which was appointed by Mnangagwa after he promised tough action against graft.

Mphoko could be jailed up to 15 years, with an option of paying a fine, if found guilty of criminal abuse of office.

He was granted 1,000 Zimbabwe dollars ($98) bail and ordered to surrender,上海夜生活桑拿会所Rachel, his passport with the court. He will return to court on Sept. 4 when state prosecutors will decide whether they are ready to proceed to trial.

Big donor Steyer’s presidential run could deny millions to other…

SACRAMENTO, Calif. ( ) – Billionaire Tom Steyer, a longtime friend and key donor to liberal candidates and causes, says he decided to run for the Democratic presidential nomination next year because no other candidate was offering a “mandate for change”.

But by deciding to fund his long-shot bid with $100 million of his own money, some Democratic activists believe all he will end up doing is denying his money to grassroots organizations and candidates in Senate and House races that Democrats are desperate to win.

Steyer’s political bona fides and passion are not in question. He has worked for years on issues of climate change and voter engagement and donated about $170 million since 2015 to his independent political action committees, Need to Impeach and NextGen America.

During the 2017-2018 election cycle, he was the second-largest donor to Democratic and liberal candidates and causes, according to the Center for Responsive Politics.

The 62-year-old former hedge fund manager from San Francisco is not well-known beyond political circles, however, and most self-funded candidacies fail. He also joins a field that numbers more than 20 candidates, currently led by former Vice,上海夜生活男人好去处Queena, President Joe Biden and U.S. Senators Bernie Sanders, Kamala Harris and Elizabeth Warren.

“Every dollar he spends on himself is a dollar that’s not going into something that can make a difference,” said California Democratic campaign consultant Steven Maviglio, who worked with Steyer in 2010 to defeat a ballot measure aimed at weakening the state’s greenhouse gas emissions law.

Democrats face high stakes in November 2,上海夜生活桑拿会所Cadence,020 to defeat Republican President Donald Trump, hold on to their new majority in the U.S. House of Representatives and pick up seats in the Senate.

The money Steyer plans to spend on his own campaign could fund five Senate elections, which the Center for Responsive Politics says cost $19.4 million apiece to win in 2016.

“The influence he is going to have on the campaign is probably to rob candidates farther down the ballot of the ability to raise the kind of money they need,” said Sherry Bebitch Jeffe, a retired University of Southern California public policy professor.


Steyer’s efforts are credited with helping Democrats make inroads in swing states and conservative areas, and his involvement helped propel Andrew Gillum’s insurgent albeit unsuccessful campaign for Florida’s governorship last year.

He has been a vocal supporter of efforts to impeach Trump.

He told he decided to announce his bid on July 9 because he was frustrated with the Democratic candidates when so much was at stake.

“I was watching this campaign and I was thinking, we’re in a crisis and it’s not being addressed,” Steyer said in a phone interview. “I couldn’t sleep because I thought there was something desperately wrong affecting every American.”

The leaders in the field are Washington insiders too beholden to the system to effect change in the areas he believes are crucial, such as campaign finance reform, congressional term limits and regulations to fight climate change, Steyer said.

“In order for this to be a successful election we don’t need to just beat Donald Trump – we need a broad mandate for change,” he s,上海夜网后花园Tallulah,aid.

Instead, the candidates were getting bogged down arguing about the details of their policy proposals.

“The question is not who has the best healthcare plan,” he said. “The question is whether any of it is going to happen.”

Stey上海夜网er has promised to contribute $50 million to Need to Impeach and NextGen America even as he funds his own campaign.

But many activists may still be frustrated by his decision to spend so much on himself, said Raphael Sonenshein, director of the Pat Brown Institute for Public Affairs at California State University, Los Angeles.

“What’s going to stand out for Democrats is his promise to spend tens of millions of dollars on his own presidential campaign. That’s not going to be very popular,” Sonenshein said.

Factbox: Hurdles in way of 5-Star/PD coalition government in Italy

ROME ( ) – Italy’s main opposition party, the center-left Democratic Party (PD), has opened the door to talks with the anti-establishment 5-Star Movement on forming a government following the collapse of the previous coalition.

President Sergio Mattarella is pushing them to make a deal quickly or else he will dissolve parliament and call a snap election.

However,,上海高端夜生活在那里Kailani, many obstacles lie in the path of an agreement between two parties that have always been bitter foes. Following are some of the issues that could hinder the negotiations:


On Thursday, it was still unclear who could lead such a government. PD leader Nicola Zingaretti has said he would not accept the outgoing Prime Minister Giuseppe Conte, a technocrat close to 5-Star who according to polls enjoys wide popularity.

Zingaretti and 5-Star leader Luigi Di Maio are considered certain to veto each other. It remains to be seen if the two parties will agree on another figure, as 5-Star and the League did at the time of Conte’s appointment.


The outgoing coalition comprising the far-right League and 5-Star, adopted an uncompromising approach to immigration, shutting ports to private rescue ships, threatening huge fines on transgressors and pulling back navy and coastguard vessels far from the Libyan coastline where migrants often need saving.

These measures were championed by League leader Matteo Salvini, but 5-Star backed him and polls suggest their voters backed the legislation. The PD denounced the crackdown and has demanded a change of tack. It is not clear how much 5-Star will be willing to backtrack on the work of the past 14 months.


The question of justice reform has poisoned Italian politics for years. 5-Star built up its support on a pledge of zero tolerance for corruption and a promise of wide-ranging judicial reform. The issue caused huge friction with the League and is likely to generate just as much anguish with PD.

The 5-Star has just presented a reform to loosen the statute of limitations which imposes time restrictions on legal proceedings. Critics say the limits make it impossible to reach verdicts in many cases, especially white-collar crime. The PD has rejected the proposed overhaul, saying that without time restrictions, trials could drag on indefinitely.


5-Star wants to revoke the lucrative motorway concession of infrastructure group Atlantia, blaming the firm for the collapse of one of its bridges last year that killed 43 people.

PD leader Nicola Zingaretti has warned that the uncertainty over the Atlantia contract poses risks to jobs and the country’s credibility.


5-Star has repeatedly accused the previous PD government,上海夜生活男人好去处Gabi, of being to blame for the collapse of several banks in which thousands of Italians lost their savings. Together with the League, it began setting up a parliamentary commission into the scandals that is due to start work next month. The PD has objected to the move and it is hard to see how they can reconcile their vastly different positions on this question if they form a coalition.


During his meeting with President Sergio Mattarella on Thursday, Zingaretti said he was not willing to back a reform of parliament set up by the previous government, that would cut the number of lawmakers from 945 to 600.

The reform was due to be definitively approved in the lower house in September, but has been put on ice because of the government crisis.

The 5-Star Movement is the main supporter of the reduction plan and will be very reluctant to let it go, even though the PD says it is willing to cut the number of parliamentarians but only as part of a broader reform of the country’s institutions.


The two ,上海夜生活网交流Gabriella,parties have been at loggerheads since 5-Star was launched in 2009 and there is bad blood between many of their parliamentarians. Perhaps 5-Star’s biggest critic is former PD Prime Minister Matteo Renzi, who is now a senator and can still count on the loyalty of many PD lawmakers because he selected them as candidates before the last election in 2018.

He has unexpectedly given his blessing to a 5-Star tie-up, but the anti-system party views Renzi and his inner circle as toxic and would veto any of them joining a new cabinet.

Keeping them out of government is one thing, but expecting them to stay loyal to an alliance with 5-Star for any length of time is hard to envisage.

Complicating matters is the fact that the new PD leader, Zingaretti, does not have many 上海夜生活of his own men and women in parliament. He fears Renzi might swiftly withdraw his support for a new coalition and form his own political force. In this context, it may make more sense for Zingaretti to push for elections now where he would have the final say over PD candidates, enabling him to flush out Renzi’s loyalists.

Factbox: Main figures in Congo’s new government

DAKAR ( ) – Congo finally has a government after eight months of stalled negotiations between the camps of Congo’s President Felix T上海夜生活shisekedi and his predecessor Joseph Kabila, whom he replaced after winning an election in December.

The cabinet list released by Prime Minister Illunga Illunka,上海夜生活去哪玩Gabi,mba on Monday consisted mostly of people with little or no govern,上海夜生活服务Paige,ment experience. Of the 65 ministers named in the Democratic Republic of Congo’s government, 42 — roughly two thirds — were from Kabila’s coalition while 23 were from Tshisekedi’s.


Ngoy Mukena, a long time Kabila ally and senior government figure, had been petroleum minister since late 2015 under Kabila’s previous government. In that role, the government’s own website described him as a “fervent Kabiliste”. ,上海夜玩网论坛Idaline,

Before that he was Kabila’s defence minister for about nine months. Mukena is from the mineral-rich and sometimes rebellious copper-producing province of Katanga. He was a founding member and at one time secretary of Kabila’s People’s Party for Reconstruction and Democracy (PPRD).

Before entering politics he was a professor in political philosophy at University of Lubumbashi, the capital of Katanga.


Another Kabila stalwart, Sele Yalaghuli, is the former head of Congo’s tax authority. Under his leadership tax receipts increased significantly. He was head of the cabinet under Kabila’s prime minister Matata Ponyo, who held the post from 2012-16.

He also served on the board of the African Development Bank and African Development fund in 2010 and 2011.


Willy Samsoni is a member of Kabila’s coalition and a former mines minister in the local government of Haut Katanga province. He has had virtually no previous public presence on the national scene.


Gilbert Malaba is one of President Tshisekedi’s closest allies. Until being named he was the national secretary for Tshisekedi’s Union for Democracy and Social Progress (UPDS).


Marie Nzeza takes on one of the most senior roles occupied by a female — 17 percent of posts went to female appointees. She is also one of the more than three quarters of posts that went to candidates with no previous political experience.

Nzeza was unknown in Congolese politics before the announcement.


Co-Founder of and former deputy secretary general of Kabila’s PPRD, Celestin Tunda is former parliamentarian who was elected in national legislative elections in 2006. She was also in former PM Ponyo’s government as deputy minister of foreign affairs.


Taking the more junior finance role, Jean-Baudouin Mayo Mambeke is the secretary general of Union for the Congolese Nation, one of the parties in Tshekedi’s coalition.

Typhoon shuts businesses, forces flight cancellations in southern…

TAIPEI ( ) – Taiwan braced for typhoon Bailu on Saturday, shutting businesses and schools as airlines canceled hundreds of flights amid w上海夜生活arnings of landslides, floods and high seas on the island.

Typhoon Bailu, categorized at the weakest typhoon level by Taiwan’s weather bureau, made landfall in Saturday afternoon in the southern county of Pingtung with maximum winds of 137 km (85 miles) per hour.

Hundreds of people were moved to safety, while more than 350 flights were canceled. Some 34,000 soldiers were deployed in the south a,上海凤楼夜网Oakley,mid fears of floods.

,上海夜生活乌托邦Jack,The storm, which was the first to make landfal,上海夜网后花园Kade,l on the island in more than two years, cut power to nearly 30,000 homes and caused localized flooding in southern Taiwan.

The bureau issued wind and rain warnings for southern Taiwan, including the port city of Kaohsiung where businesses and schools were closed. It also put out a warning to seafarers around the island.

The typhoon is expected to cross the Taiwan Strait and hit the Chinese province of Fujian over the weekend, forecasters said.

Typhoons regularly hit Taiwan, China, the Philippines and Japan in the second half of the year, gathering strength from the warm waters of the Pacific Ocean or South China Sea.

Typhoon Morakot devastated the island in 2009, killing nearly 700 people, most of them in landslides.

U.S. hits four Venezuelan military officers with sanctions after…

WASHINGTON ( ) – The United States on Friday stepped up its response following the death of a Venezuelan navy captain, sanctioning four top officials ,上海足浴夜网联系方式Falkner,in Venezuela’s military counterintelligence agency, the U.S. Treasury Department said.

U.S. officials last week sanctioned the agency, known as the General Directorate of Military Counterintelligence (DGCIM), freezing all its direct and indirectly-owned assets in the wake of Rafael Acosta’s death.

Friday’s action would freeze any of the four military officers’ assets under U.S.-control and block any U.S. persons or entities from any transactions or dealings with them.

Venezuelan President Nicolas Maduro’s government confirmed the death on June 29, eight days after Acosta had been arrested for alleged participation in a coup plot. Human rights organizations, political leaders and his family have accused the government of torturing Acosta to death.

The latest U.S. sanctions tar,上海夜生活乌托邦Cadence,get Division General Rafael Ramón Blanco Marrero, Colonel Hannover Esteban Guerrero Mijares, Major Alexander Enrique Granko Arteaga and Colonel Rafael An上海夜生活网tonio Franco Quintero, U.S. officials said.

“The United States will continue to hold individuals accountable who are involved in the former Maduro regime’s use of intimidation and repression to target and silence political opponents, innocent civilians, and members of the military,” U.S. Treasury Secretary Steven Mnuchin said in a statement.

U.S. President Donald Trump’s administration has sought to leverage sanctions amid its push to oust Maduro, whose 2018 re-election has been deemed illegitimate by the United States and most Western nations. Maduro has retained the backing of the country’s military and other institutions.

The European Union has also said it is readying sanctions over the case, while t,上海夜网Rae,he United Nations has called for an independent investigation into the captain’s death.

Explainer: Five questions about Modern Monetary Theory

WASHINGTON ( ) – What are the key ideas?

Like famed economi,上海高端夜生活在那里Kailani,st John Maynard Keynes, Modern Monetary Theory advocates think government has an important role in offsetting what happens when demand falls short of what’s needed to keep everyone who wants a job employed. They draw also on the ideas of Hyman Minsky, who was best known for his work on financial bubbles but also noted what he felt was the inherent tendency of market systems to fall short of full employment. MMT proponents also have a distinct view about the demand for money drawn from the work of a Keynes contemporary, Abba Lerner. They see it as rooted in government’s power to order that taxes be paid in a currency which it alone issues, and which it can also spend on goods and services. In their view, that means government spending can be used for core policies including a universal job guarantee that stabilize demand through the business cycle.

Isn’t that inflationary?

MMT advocates contend governments that have their own national currencies do not have a “budget constraint” — in other words they can’t run out of money because they can always issue more. Since they also see fiscal policy as the main tool to stabilize the economy, they would trust elected officials to make the spending decisions needed to ensure goals like universal employment. Some argue that’s a recipe for inflation, and the reason an independent central bank is needed to check excessive spending. MMT advocates do acknowledge the risk of inflation and see it as th上海夜生活e constraint that would keep politicians honest. Under this framework, inflation is seen as a product of real resource limits, and it would fall to Congress to set spending, tax and industry-specific regulatory policies to keep inflation under control.

What about jobs?

Labor is a chief resource MMT advocates think about. A central idea is that the underuse of labor is a chronic problem for the U.S. economy and a key reason the Fed has struggled to raise inflation in recent years. They argue that government should guarantee a job to anyone who wants one. As the economy does better or worse through the business cycle, the number of people relying on those guaranteed government jobs versus private-sector jobs would expand or contract, with people during an expansion lured by the higher wages that the private sector would have to offer to attract workers.  

What’s left for the Fed to do?

MMT sees the Fed as largely ineffectual. Under the framework MMT advocates describe, Congress would set a reference interest rate — it could even be zero — and the Fed could administer that. But the Fed’s employment mandate would be moot since there would be a guaranteed job for everyone, and inflation would be handled through fiscal tools as well. Financial supervision would remain with the U.S. central bank, as would its traditional role as lender of last r,上海夜生活去哪玩Tabitha,esort in a crisis.

Could it backfire?

A lot of faith is put in elected officials and government regulatory agencies to get it right and show both a high degree of foresight in budgeting and a high degree of precision in managing inflation. Critics say it also overlooks how financial markets and global financial flows could create a backlash.,上海夜生活桑拿会所Kai, Exchange rates float in the MMT framework. A loss of trust in U.S. finances could erode the dollar’s standing and create inflation through rising import prices, or a worse sort of financial crisis.

Should I stay or should I run? Pompeo under pressure over U.S….

WASHINGTON ( ) – Republican pressure on Secretary of State Mike Pompeo 上海夜生活论坛to run for the U.S. Senate next year to help keep the party’s majority intact is coming up against President Donald Trump’s hope of keeping one of his most trusted aides in his administration.

Senate Majority Leader Mitch McConnell and other Senate Republicans believe the former U.S. congressman from Kansas would be a strong candidate should he decide to run for one of the state’s Senate seats in 2020.

“Secretary Pompeo would clear the field and guarantee the Senate stays Republican,” said Scott Reed, senior political strategist at the U.S. Chamber of Commerce.

But Trump has grown increasingly reliant on Pompeo as he juggles a variety of global challenges and would prefer that he stay, several people familiar with the situation say.

A source close to the White House said Trump and Pompeo have discussed the Senate race.

“The president wants more seats in the Senate but doesn’t want to lose Pompeo,” the source said. “He’s probably one of his most trusted aides.”

Pompeo, 55, has aligned himself closely to Trump as he actively pursued his policies on Iran, North Korea, Venezuela and in the Middle East, and Trump has found him to be a strong successor to Rex Tillerson, whom the president derided as “dumb as a rock.”

“I think there is some pressure within the White House to try to clear all this up. But the president wants him to stay,” said a Republican campaign official.

One Republican official, who asked to remain unidentified, said there was some expectation that Pompeo would decide whether to run over the Labor Day holiday weekend that ends Sept. 2.

But a person familiar with Pompeo’s thinking denied that was his plan.

Other officials said Pompeo was under no particular pressure since the deadline to file for the Republican nomination is not until next June.

A spokesperson fo,上海夜玩网论坛Hallie,r Pompeo did not immediately respond to a request for comment on the issue.


McConnell and other Republicans believe Pompeo can keep the U.S. Senate seat in Kansas now held by Pat Roberts, who has decided not to run for a fifth term.

They do not have the same confidence in Kris Kobach, a former Kansas secretary of state who has said he is running. Kobach, a conservative hawk on immigration, lost the governor’s race last year.

On the Democratic side, former U.S. Attorney Barry Grissom is running, as well as former U.S. Representative Nancy Boyda. There has been some pressure among Democrats for Kathleen Sebelius, who was Health and Human Services secretary under President Barack Obama, to run, but she has not committed.

Republicans want to ensure a win in Kansas to improve their chances of maintaining control of the U.S. Senate amid concerns that 2020 could be a difficult year, with incumbents Martha McSally of Arizona and Cory Gardner of Colorado showing signs of weakness.

Former Colorado Gov,上海夜生活怎么玩Octava,ernor John Hickenlooper has dropped out of the race for the Democratic presidential nomination and is running for Gardner’s Senate seat.

Pompeo has offered mixed messages on his plans. As recently as Wednesday he told the Washington Examiner that he would remain at the State Department.

“I am going to stay here,” he told the newspaper.

But Pompeo is clearly keeping his options open, either for the Senate or even possibly for the Republican presidential nomination in 2024.

Political experts took note on Tuesday when he attended a luncheon meeting of the Committee to Unleash Prosperity organized by New York billionaire John Catsimatidis and attended by heavyweights Steve Forbes, Art Laffer and Stephen Moore, as well a,上海夜哪里艳遇Idaleen,s big Republican donors.

Biden steadies ship while setting up impending clash with Warren

WASHINGTON ( ) – After two sets of Democratic presidential debates, it appears that Joe Biden and Elizabeth Warren, at least at the moment, are two high-speed trains on a collision course.

Biden, the former vice president, likely did enough at Wednesday’s debate in Detroit to ease concerns among supporters that his front-runner status was in immediate danger after his underwhelming performance in the first debate in June.

This time around, he mounted a more combative defense of his centrist candidacy, defending his long record in government and his work with former President Barack Obama, who remains immensely popular with Democrats more than two years since leaving office.

Biden, 76, battled a wave of critics on the Detroit stage, from U.S. Senators Cory Booker and Kamala Harris to former Housing Secretary Julian Castro and New York Mayor Bill de Blasio, emerging relatively unbloodied.

There were no resonant moments that resembled Harris’ blistering attack over his civil rights record in the first debate in Miami, political analysts and Biden aides said.

“The question going into the debate was could the vice president take a hit, would he punch back, can he be strong, can he fight back 上海夜生活against Donald Trump? And the answer was an unequivocal yes,” Symone Sanders, a senior adviser to Biden, told reporters after the debate.

Democrats will hold a series of nominating contests beginning next February to determine their party’s nominee to battle the Republican Trump in the November 2020 general election.

Warren, a U.S senator from Massachusetts who has been gaining in opinion polls, turned in an assured and defiant performance in Tuesday’s debate, forcefully responding to moderate critics who charged her plans were too sweeping and expensive.

In a reversal on Wednesday, Biden’s moderate record was r,夜上海论坛Nala,epeatedly questioned by progressives on the stage.

At one point, Biden called the criticism “a bunch of malarkey.”

Both nights made clear that the ideological divide that is fissuring the Democratic Party will not soon be closed – and that voters may soon have to choose a side as the field begins to narrow in the coming months.

Warren, along with U.S. Senator Bernie Sanders, exemplifies the leftward wing of the party, while Biden currently owns its center lane.

Biden and Warren have yet to share a debate stage — and with no debate scheduled until September, the race is likely to be relatively stable in the coming weeks.


Kyle Kondik, a political analyst at the University of Virginia, said Biden was effective in defending against attacks by Harris and others on Obama’s signature healthcare achievement, the Affordable Care Act, and other parts of the Obama administration’s record. “That seems to be a comfortable place,上海夜生活网交流Quaid, to be,” Kondik said.

Kondik said some pundits had been premature in declaring Warren’s and Sanders’ supremacy over the moderates of the party after Tuesday’s debate. “That ignored the fact that Biden w,上海夜生活服务Caitlin,asn’t on stage and is the clear polling leader at this point.”

A Quinnipiac University poll released this week showed Biden had largely recovered ground he lost after his debate flap with Harris. He held 34 percent of the Democratic vote, with Warren behind at 15 percent. Other recent polls have given Biden a sizeable lead, with either Warren or Sanders second.

Joel Payne, a Democratic strategist who worked for former presidential candidate Hillary Clinton, said that the two debates this week had laid out a stark choice for Democratic primary voters.

“If you doubt that Democrats can defeat Donald Trump on a progressive agenda, then Biden is going to continue to have a pretty strong lead,” Payne said. “But if you feel like Democrats need to go big and bold and push the envelope with a transformative new agenda, I think it’s pretty clear where you are going – to the left flank of the party and choose from the Sanders/Warren wing.”

What that means for candidates who are attempting to straddle the middle ground between the two poles, such as Harris, Booker and Pete Buttigieg, the mayor of South Bend, Indiana, remains to be seen.

Harris appeared to struggle at times on Wednesday reconciling her progressive policy stances with her record as California’s attorney general and may have sapped any momentum her campaign received from her skirmish with Biden in June.

Booker at the debate preached party unity, but then attacked Biden over his criminal justice policies while a U.S. senator. Buttigieg has shown himself to be a prolific fundraiser and skilled debater, but his support in the polls appears to be leveling off.

Trump has said he believes Biden will be the Democratic nominee and his campaign targeted him throughout the evening in a series of statements that slammed Biden on foreign policy, trade and abortion.

Payne said that Trump’s recent conduct – telling a group of minority congresswomen to “go back” to their home countries and ripping the district of a black congressman – may have played into Biden’s hands ahead of the debate.

The more outrageous Trump’s actions, Payne contended, the more Democratic voters were likely to prioritize finding a candidate who can beat him over progressive structural reforms.

“You can draw a straight line between Trump being unsteady and erratic and people clinging more to Joe Biden,” Payne said. “‘Uncle Joe’ is the safety blanket that many Democratic voters will continue to lean on as long as they view Donald Trump as the existential threat.”

(Fixes date of first debate in paragraphs 2, 21)

Budget spat puts Boeing contract for AWACS upgrades at risk: sources

WASHINGTON ( ) – A dispute over budgeting processes could delay NATO’s efforts to finalize a $1 billion contract to extend the life of 14 aging B,上海夜生活网419Gabrielle,oeing E-,上海夜生活Jacob,3A surveillance aircraft, often called NATO’s “eyes in the sky,” sources familiar with the program said.

NATO officials have invited the 16 member nations in the Airborne Warning & Control System, or AWACS, program to an extraordinary meeting on Sept. 12 to mark the program’s 40th anniversary and resolve the budget dispute, the sources said.

Unless the issue is resolved soon, the contract will not be awarded to Boeing in time to be announced as planned at the Dec. 3-4 NATO summit in London, the sources said.

“It’s disappointing that a one-sided interpretation of the rules is putting this much-needed upgrade program at risk,” said one of the sources.

The upgrades would keep the 1979/1980-era airplanes, with their distinctive radar domes on the fuselage, flying until 2035. NATO needs the planes to carry out missions such as air policing, evacuations and counter-terrorism operations.

A second source said the dispute was not expected to kill the upgrade program outright, but could well push a contract award to Boeing off until next year, marking a setback for the U.S. contractor at a time when it still is struggling to get its 737 MAX commercial airplane back in the air.

NAPMA, the NATO agency that manages the AWACS fleet, said in June it expected to finalize by December a $750 million contract with Boeing to extend the life of the aircraft through 2035, with $250 million more earmarked for design, spare parts and testing.


But unanimous consent of member states is needed to proceed, and Norway has raised concerns about an uneven flow of funds to the program until its completion by 2027, the sources said.

They said Oslo wants the biggest program states – the United States, Germany, Italy and the Netherlands – to transfer the bulk of their payments at the start, but that is not possible due to budgetary rules in those countries.

In the United States, for instance, funding for weapons programs is generally authorized and distributed on an annual basis, subject to approval by the U.S. Congress.

Ann-Kristin Salbuvik, spokeswoman for the Norwegian d,上海会所夜网Mabel,efense ministry, said Norway remained committed to the AWACS Final Life Extension Program and was prepared to finance its share of the program in coming years.

But she said a decision to launch the program was contingent on approval by all member states, and the Boeing offer had to be “compliant, affordable and feasible.”

Boeing spokeswoman Melissa Stewart on Thursday had no comment on the dispute, saying Boeing continued to work with NATO “to assess needs and present the best options and upgrades that will keep their AWACS fleet operational for years to come.”

Once NAPMA presented its recommendations later this fall, member nations still have to agree on technical, financial and managerial aspects of the program, she said.

A NATO official downplayed the risk to the upgrade program but acknowledged that it still required securing final signatures on multilateral agreements, confirmation of budget arrangements and negotiation of other “last-minute details.”

“Despite the complexity of a $1 billion multinational program being conducted by 16 Allies, these preparations are on track. The plan remains to award the contract in December,” the official said.

Written by shyw on  Categories: aohkcbcv Tags: , ,