Connect with us

Economy

Powell Sees Hope and Uncertainties for Economy in Vaccines – Yahoo Canada Finance

Published

 on


The Canadian Press

Top secret: Biden gets access to President’s Daily Brief

WILMINGTON, Del. — Joe Biden has had his first look as president-elect at the President’s Daily Brief, a top secret summary of U.S. intelligence and world events — a document former first lady Michelle Obama has called “The Death, Destruction, and Horrible Things Book.”
Biden has already had eyes on different iterations of the so-called PDB, which is tailored to the way each president likes to absorb information.
More than a decade ago, Biden read President George W. Bush’s PDB during Biden’s transition into the vice presidency. After that, he read President Barack Obama’s PDB for eight years. Beginning Monday, after a four-year break, he’s reading President Donald Trump’s PDB.
“The briefers almost certainly will be asking Biden what he prefers in terms of format and style,” said David Priess, author of “The President’s Book of Secrets,” a history of the PDB. “At a minimum, they’re seeing what seems to resonate most with him so that when they make the book his book, they can tailor it to him.”
Obama’s PDB was a 10- to 15-page document tucked in a leather binder, which he found waiting for him on the breakfast table. Later in his presidency, he liked reading the ultra-secret intelligence brief on a secured iPad.
“Michelle called it “The Death, Destruction, and Horrible Things Book,” Obama wrote in his recently released book, ”A Promised Land.”
“On a given day, I might read about terrorist cells in Somalia or unrest in Iraq or the fact that the Chinese or Russians were developing new weapons systems,” Obama wrote. “Nearly always, there was mention of potential terrorist plots, no matter how vague, thinly sourced, or unactionable — a form of due diligence on the part of the intelligence community, meant to avoid the kind of second-guessing that had transpired after 9-11.”
From now until Inauguration Day, Biden and Vice-President-elect Kamala Harris will be reading the PDB crafted for Trump, who had delayed giving Biden and Harris access to it as he contests the outcome of the election.
Trump, who prefers absorbing information in visual ways, likes short texts and graphics.
“Trump himself said during his campaign and during the transition in 2016 that he did not like reading long documents — that he preferred bullet points,” said Priess, who has not seen any of Trump’s PDBs. “It probably has charts, tables, graphs — things like that. Not the parody that people make that it’s like a cartoon book … but something that is more visual. But we don’t know for sure.”
The written brief, which Trump doesn’t always read, often is followed by a verbal briefing with an intelligence official, although those oral briefings stopped at least for a time in October. Priess said he didn’t know why they stopped or if they had resumed, but that they stopped at a time when Trump was spending much of his time on the campaign trail.
Before Trump authorized Biden to get the PDB as president-elect, Biden was given some intelligence background briefings as a candidate. But they were more general and did not include the nation’s top secrets.
The other thing that a president-elect gets is a briefing “on CIA’s covert actions,” former acting CIA director Mike Morell said at an event hosted by the Center for Presidential Transition based in Washington. “It’s important for the president-elect to get this briefing … because on Inauguration Day, these covert actions will become the new president’s.”
In 1961, President John F. Kennedy read his first brief while sitting on the diving board of a swimming pool at his retreat in the Blue Ridge Mountains of Virginia. President Lyndon Johnson liked to read his brief in the afternoon. President Richard Nixon relied on his national security adviser Henry Kissinger to peruse the briefs and tell him what he thought the president should know.
As the laborious recount of ballots dragged on in 2000, President Bill Clinton decided that then-Gov. George W. Bush should get access to his PDB just in case he was the winner. Bush became was the first incoming president to read it before he was president-elect.
Biden is getting the PDB later than usual because of Trump’s ongoing protest of the election results. Trump approved the briefings for Biden last Tuesday, a day after his administration approved the formal transition process to his successor.
When Biden walks into the Oval Office, he’ll be inheriting nuclear threats from North Korea and Iran, changing political dynamics in the Middle East, the winding down of America’s presence in Afghanistan and rising competition from China.
Biden had access to the PDB in Wilmington, Delaware. Harris received it in a secure room at the Commerce Department, where the presidential transition offices are located.
Even Biden, who has decades of experience in foreign policy, could be the victim of an old political adage that no matter how informed he thinks he is, he could learn otherwise from the PDB.
Former CIA Director Michael Hayden wrote in his book that revelations and new insight found in the PDB are known as “aw s—” moments. As in: “Aw s—,” he wrote, “wish we hadn’t said that during that campaign stop in Buffalo.”
___
Riechmann reported from Washington.

Deb Riechmann And Zeke Miller, The Associated Press

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

Canadian dollar moves to extend weekly win streak as oil rebounds

Published

 on

Canadian dollar

The Canadian dollar strengthened against its U.S. counterpart on Friday and was on track for its seventh straight weekly gain as oil prices rose and domestic data added to evidence of robust economic growth in the first quarter.

Canadian factory sales rose 3.5% in March from February, led by the motor vehicle, petroleum and coal, and food product industries, while wholesale trade was up 2.8%, Statistics Canada said.

The price of oil, one of Canada‘s major exports, reversed some of the previous day’s sharp losses as stock markets strengthened, though gains were capped by the coronavirus situation in major oil consumer India and the restart of a fuel pipeline in the United States.

U.S. crude prices rose 1.2% to $64.61 a barrel, while the Canadian dollar was trading 0.6% higher at 1.2093 to the greenback, or 82.69 U.S. cents, moving back in reach of Wednesday’s 6-year peak at 1.2042.

For the week, the loonie was on track to gain 0.3%. It has climbed more than 5% since the start of the year, the biggest gain among G10 currencies, supported by surging commodity prices and a shift last month to a more hawkish stance by the Bank of Canada.

Still, BoC Governor Tiff Macklem said on Thursday if the currency continues to rise, it could create headwinds for exports and business investment as well as affecting monetary policy.

The U.S. dollar fell against a basket of major currencies, pressured by a recovery in risk appetite across markets after Federal Reserve officials helped calm concerns about a quick policy tightening in response to accelerating U.S. inflation.

Canadian government bond yields were lower across much of a flatter curve, with the 10-year down 2 basis points at 1.549%. On Thursday, it touched its highest intraday in eight weeks at 1.624%.

 

(Reporting by Fergal Smith; Editing by Nick Zieminski)

Continue Reading

Economy

Toronto Stock Exchange rises 1.21% to 19,366.69

Published

 on

Toronto Stock Exchange

* The Toronto Stock Exchange‘s TSX rises 1.21 percent to 19,366.69

* Leading the index were SNC-Lavalin Group Inc <SNC.TO​>, up 16.0%, Village Farms International Inc​, up 9.8%, and Denison Mines Corp​, higher by 9.4%.

* Lagging shares were Aurora Cannabis Inc​​, down 7.2%, Centerra Gold Inc​, down 3.8%, and Canadian National Railway Co​, lower by 3.7%.

* On the TSX 194 issues rose and 35 fell as a 5.5-to-1 ratio favored advancers. There were 25 new highs and no new lows, with total volume of 225.7 million shares.

* The most heavily traded shares by volume were Enbridge Inc, Manulife Financial Corp and Cenovus Energy Inc.

* The TSX’s energy group rose 3.32 points, or 2.7%, while the financials sector climbed 4.80 points, or 1.3%.

* West Texas Intermediate crude futures rose 2.65%, or $1.69, to $65.51 a barrel. Brent crude  rose 2.68%, or $1.8, to $68.85 [O/R]

* The TSX is up 11.1% for the year.

This summary was machine generated May 14 at 21:03 GMT.

Continue Reading

Economy

U.S., Mexico, Canada to hold ‘robust’ talks on trade deal

Published

 on

The United States, Mexico and Canada will next week hold their first formal talks on their continental trade deal, with particular focus on labor and environmental obligations, the U.S. government said on Friday.

Trade ministers from the three nations are set to meet virtually on Monday and Tuesday to discuss the U.S.-Mexico-Canada (USMCA) deal, which took effect in July 2020.

“The ministers will receive updates about work already underway to advance cooperation … and will hold robust discussions about USMCA’s landmark labor and environmental obligations,” the office of U.S. Trade Representative Katherine Tai said in a statement.

The United States is also reviewing tariffs which may be leading to inflation in the country, economic adviser Cecilia Rouse told reporters at the White House on Friday, a move that could affect hundreds of billions of dollars in trade.

The United States, testing provisions in the new deal aimed at strengthening Mexican unions, this week asked Mexico to investigate alleged abuses at a General Motors Co factory.

(Reporting by David Ljunggren; Editing by Hugh Lawson and Jonathan Oatis)

Continue Reading

Trending