adplus-dvertising
Connect with us

Politics

Will political haggling derail Covid-19 relief? Investors are wary – CNN

Published

 on


A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here.
What’s happening: Talks in Brussels over a €750 billion ($859 billion) relief package stretched into their fourth day on Monday as frugal Northern countries stood firm on limiting the proportion of grants in the mix, as opposed to loans. The conditions that would be attached to funding also remain a point of contention.
But a compromise could be close. Before the EU summit was adjourned after all-night talks Sunday, a deal was proposed that would reduce the proportion of grants to about 50% of the fund, or €375 billion ($429 billion).
“We are not there yet,” Dutch Prime Minister Mark Rutte said. “Things could still fall apart but it looks a bit more hopeful than at times last night.”
That’s good news considering the euro is rising on the assumption that a deal will be reached. The currency climbed to $1.15 on Monday, its highest level against the dollar since early 2019.
That’s not all: Stimulus negotiations will kick off in Washington “in earnest” on Monday, according to White House chief of staff Mark Meadows. Senate Majority Leader Mitch McConnell and House Minority Leader Kevin McCarthy are due to meet with President Donald Trump and Treasury Secretary Steven Mnuchin to “fine tune” the proposal, Meadows said.
Much remains up in the air — and it’s not just liberal and conservative lawmakers who are facing off. The White House and Senate Republicans are at odds over the amount of funding that should be given to the US Centers for Disease Control and Prevention, a source with direct knowledge of the matter told CNN over the weekend.
The stakes: An explosion of coronavirus cases in Sun Belt states has threatened the fragile US recovery, raising pressure on lawmakers to agree on the next round of assistance quickly. Goldman Sachs said in a note to clients that consumer spending could fall back to June levels if other states with growing case loads follow California in reimposing strict social distancing.
The bank said that if the recovery stalls or reverses this quarter, growth would likely be stronger than expected in 2021. But it could also result in long-term scarring of the economy.
“This could come in the form of permanent business closures or — with the labor market recovery now stalling, led by setbacks in the Sun Belt — lost opportunities to quickly rehire workers still on temporary layoff,” strategists led by chief economist Jan Hatzius wrote in Sunday’s note.
On the radar: As the job market sags, lawmakers need to decide whether to extend a $600 per week federal lifeline for millions of unemployed Americans.
Though the supplementary relief technically doesn’t expire until July 31, this will be the last week for which benefits are paid. If a consensus isn’t reached, more than 25 million people will be thousands of dollars poorer each month, my CNN Business colleague Tami Luhby reports.

Investors are feeling good about the vaccine timeline

Investors are increasingly bullish about the timeline for a Covid-19 vaccine as governments rack up advance orders and data from clinical trials continues to come in.
The latest: A Deutsche Bank survey of 500 market professionals released Monday shows growing optimism, with 56% of respondents expecting a vaccine within the next 12 months. That’s up from 37% in June.
The positive outlook comes as drugmakers release results from clinical studies that could be promising, sparking sharp run-ups in shares.
See here: AstraZeneca (AZN) and Oxford University are due to release early data from human trials on Monday in The Lancet medical journal.
The company has already signed agreements with countries around the world to supply hundreds of millions of doses if its vaccine is found to be both safe and effective. AstraZeneca’s stock has rallied nearly 24% this year, and gained another 4% Monday in London.
A possible vaccine developed by Pfizer and Germany’s BioNTech (BNTX) is also garnering interest after the US Food and Drug Administration gave “fast track” designations to two of their four vaccine candidates last week, lining them up for accelerated approval. The United Kingdom on Monday said it had secured 30 million doses of the vaccine candidate, as well as up to 100 million doses from French pharma company Valneva.
Pfizer’s shares rose more than 7% last week, while BioNTech’s shot up 21%. Valneva shares rose 10% in Paris on Monday.
Some moves tied to Covid-19 drugs are even more dramatic. Stock in Synairgen, a British biotech firm, leaped 451% in London on Monday after the company said that a trial of its coronavirus treatment reduced the number of patients who needed to be put on ventilators. Its shares have skyrocketed more than 2,794% year-to-date.

Why Silicon Valley’s biggest companies are betting on India

Silicon Valley’s top names are investing massive sums of money in India, a crucial growth market that is also of increasing strategic importance.
Why Silicon Valley's biggest companies are investing billions in India
Since the start of 2020, the biggest names in US tech have invested around $17 billion in the country, my CNN Business colleague Rishi Iyengar reports.
See here: Amazon pledged $1 billion in January, Facebook invested nearly $6 billion in late April and Google topped them all last week with a $10 billion commitment. They’re part of a wave of investment in India’s tech industry this year that’s now well over $20 billion, with most of it coming from the United States.
The flood of investment highlights something that’s been true for years: India’s digital economy, with more than 700 million internet users and roughly half a billion yet to come online, is simply too big a prize for Big Tech to ignore.
But geopolitics could be playing a role, too. India’s diplomatic spat with China has spilled over into tech, aligning it with the Trump administration’s own distrust of Chinese companies. The diminishing scope for tech cooperation with China, along with new threats to footholds in places like Hong Kong, have made a presence in India even more crucial.
“China, through recent actions, has effectively delivered the US to India for a generation,” said Ravi Shankar Chaturvedi, research director at Tufts University’s Institute for Business in the Global Context.
Halliburton (HAL) reports results before US markets open. IBM (IBM) follows after the close.
Coming tomorrow: Investors turn to earnings from Coca-Cola (KO), Novartis (NVS), Snap (SNAP) and Texas Instruments (TXN).

Let’s block ads! (Why?)

728x90x4

Source link

Politics

Politics Briefing: Labour leader targets Poilievre, calls him 'anti-worker politician' – The Globe and Mail

Published

 on


Hello,

Pierre Poilievre is a fraud when it comes to empowering workers, says the president of Canada’s largest labour organization.

Bea Bruske, president of the Canadian Labour Congress, targeted the federal Conservative Leader in a speech in Ottawa today as members of the labour movement met to develop a strategic approach to the next federal election, scheduled for October, 2025.

300x250x1

“Whatever he claims today, Mr. Poilievre has a consistent 20-year record as an anti-worker politician,” said Bruske, whose congress represents more than three million workers.

She rhetorically asked whether the former federal cabinet minister has ever walked a picket line, or supported laws to strengthen workers’ voices.

“Mr. Poilievre sure is fighting hard to get himself power, but he’s never fought for worker power,” she said.

“We must do everything in our power to expose Pierre Poilievre as the fraud that he is.”

The Conservative Leader, whose party is running ahead of its rivals in public-opinion polls, has declared himself a champion of “the common people,” and been courting the working class as he works to build support.

Mr. Poilievre’s office today pushed back on the arguments against him.

Sebastian Skamski, media-operations director, said Mr. Poilievre, unlike other federal leaders, is connecting with workers.

In a statement, Skamski said NDP Leader Jagmeet Singh has sold out working Canadians by co-operating with the federal Liberal government, whose policies have created challenges for Canadian workers with punishing taxes and inflation.

“Pierre Poilievre is the one listening and speaking to workers on shop floors and in union halls from coast to coast to coast,” said Mr. Skamski.

Prime Minister Justin Trudeau and Mr. Singh are scheduled to speak to the gathering today. Mr. Poilievre was not invited to speak.

Asked during a post-speech news conference about the Conservative Leader’s absence, Bruske said the gathering is focused on worker issues, and Poilievre’s record as an MP and in government shows he has voted against rights, benefits and wage increases for workers.

“We want to make inroads with politicians that will consistently stand up for workers, and consistently engage with us,” she said.

This is the daily Politics Briefing newsletter, written by Ian Bailey. It is available exclusively to our digital subscribers. If you’re reading this on the web, subscribers can sign up for the Politics newsletter and more than 20 others on our newsletter signup page. Have any feedback? Let us know what you think.

TODAY’S HEADLINES

Pierre Poilievre’s top adviser not yet contacted in Lobbying Commissioner probe: The federal Lobbying Commissioner has yet to be in touch with Jenni Byrne as the watchdog probes allegations of inappropriate lobbying by staff working both in Byrne’s firm and a second one operating out of her office.

Métis groups will trudge on toward self-government as bill faces another setback: Métis organizations in Ontario and Alberta say they’ll stay on the path toward self-government, despite the uncertain future of a contentious bill meant to do just that.

Liberals buck global trend in ‘doubling down’ on foreign aid, as sector urges G7 push: The federal government pledged in its budget this week to increase humanitarian aid by $150-million in the current fiscal year and $200-million the following year.

Former B.C. finance minister running for the federal Conservatives: Mike de Jong says he will look to represent the Conservatives in Abbotsford-South Langley, which is being created out of part of the Abbotsford riding now held by departing Tory MP Ed Fast.

Ottawa’s new EV tax credit raises hope of big new Honda investment: The proposed measure would provide companies with a 10-per-cent rebate on the costs of constructing new buildings to be used in the electric-vehicle supply chain. Story here.

Sophie Grégoire Trudeau embraces uncertainty in new memoir, Closer Together: “I’m a continuous, curious, emotional adventurer and explorer of life and relationships,” Grégoire Trudeau told The Globe and Mail during a recent interview. “I’ve always been curious and interested and fascinated by human contact.”

TODAY’S POLITICAL QUOTES

“Sometimes you’re in a situation. You just can’t win. You say one thing. You get one community upset. You say another. You get another community upset.” – Ontario Premier Doug Ford, at a news conference in Oakville today, commenting on the Ontario legislature Speaker banning the wearing in the House of the traditional keffiyeh scarf. Ford opposes the ban, but it was upheld after the news conference in the provincial legislature.

“No, I plan to be a candidate in the next election under Prime Minister Trudeau’s leadership. I’m very happy. I’m excited about that. I’m focused on the responsibilities he gave me. It’s a big job. I’m enjoying it and I’m optimistic that our team and the Prime Minister will make the case to Canadians as to why we should be re-elected.” – Public Safety Minister Dominic LeBlanc, before Question Period today, on whether he is interested in the federal Liberal leadership, and succeeding Justin Trudeau as prime minister.

THIS AND THAT

Today in the Commons: Projected Order of Business at the House of Commons, April. 18, accessible here.

Deputy Prime Minister’s Day: Private meetings in Burlington, Ont., then Chrystia Freeland toured a manufacturing facility, discussed the federal budget and took media questions. Freeland then travelled to Washington, D.C., for spring meetings of the International Monetary Fund and the World Bank Group. Freeland also attended a meeting of the Five Eyes Finance Ministers hosted by U.S. Treasury Secretary Janet Yellen, and held a Canada-Ukraine working dinner on mobilizing Russian assets in support of Ukraine.

Ministers on the Road: Foreign Affairs Minister Mélanie Joly is on the Italian island of Capri for the G7 foreign ministers’ meeting. Heritage Minister Pascale St-Onge, in the Quebec town of Farnham, made an economic announcement, then held a brief discussion with agricultural workers and took media questions. Privy Council President Harjit Sajjan made a federal budget announcement in the Ontario city of Welland. Families Minister Jenna Sudds made an economic announcement in the Ontario city of Belleville.

Commons Committee Highlights: Treasury Board President Anita Anand appeared before the public-accounts committee on the auditor-general’s report on the ArriveCan app, and Karen Hogan, Auditor-General of Canada, later appeared on government spending. Crown-Indigenous Relations Minister Gary Anandasangaree appears before the status-of-women committee on the Red Dress Alert. Competition Bureau Commissioner Matthew Boswell and Yves Giroux, the Parliamentary Budget Officer, appeared before the finance committee on Bill C-59. Former Prince Edward Island premier Robert Ghiz, now the president and chief executive officer of the Canadian Telecommunications Association, is among the witnesses appearing before the human-resources committee on Bill C-58, An act to amend the Canada Labour Code. Caroline Maynard, Canada’s Information Commissioner, appears before the access-to-information committee on government spending. Michel Patenaude, chief inspector at the Sûreté du Québec, appeared before the public-safety committee on car thefts in Canada.

In Ottawa: Governor-General Mary Simon presented the Governor-General’s Literary Awards during a ceremony at Rideau Hall, and, in the evening, was scheduled to speak at the 2024 Indspire Awards to honour Indigenous professionals and youth.

PRIME MINISTER’S DAY

Justin Trudeau met with Ottawa Mayor Mark Sutcliffe at city hall. Sutcliffe later said it was the first time a sitting prime minister has visited city hall for a meeting with the mayor. Later, Trudeau delivered remarks to a Canada council meeting of the Canadian Labour Congress.

LEADERS

Bloc Québécois Leader Yves-François Blanchet held a media scrum at the House of Commons ahead of Question Period.

Conservative Leader Pierre Poilievre attends a party fundraising event at a private residence in Mississauga.

Green Party Leader Elizabeth May attended the House of Commons.

NDP Leader Jagmeet Singh, in Ottawa, met with Saskatchewan’s NDP Leader, Carla Beck, and, later, Ken Price, the chief of the K’ómoks First Nation,. In the afternoon, he delivered a speech to a Canadian Labour Congress Canadian council meeting.

THE DECIBEL

On today’s edition of The Globe and Mail podcast, Sanjay Ruparelia, an associate professor at Toronto Metropolitan University and Jarislowsky Democracy Chair, explains why India’s elections matter for democracy – and the balance of power for the rest of the world. The Decibel is here.

PUBLIC OPINION

Declining trust in federal and provincial governments: A new survey finds a growing proportion of Canadians do not trust the federal or provincial governments to make decisions on health care, climate change, the economy and immigration.

OPINION

On Haida Gwaii, an island of change for Indigenous land talks

“For more than a century, the Haida Nation has disputed the Crown’s dominion over the land, air and waters of Haida Gwaii, a lush archipelago roughly 150 kilometres off the coast of British Columbia. More than 20 years ago, the First Nation went to the Supreme Court of Canada with a lawsuit that says the islands belong to the Haida, part of a wider legal and political effort to resolve scores of land claims in the province. That case has been grinding toward a conclusion that the B.C. government was increasingly convinced would end in a Haida victory.” – The Globe and Mail Editorial Board.

The RCMP raid the home of ArriveCan contractor as Parliament scolds

“The last time someone was called before the bar of the House of Commons to answer MPs’ inquiries, it was to demand that a man named R.C. Miller explain how his company got government contracts to supply lights, burners and bristle brushes for lighthouses. That was 1913. On Wednesday, Kristian Firth, the managing partner of GCStrategies, one of the key contractors on the federal government’s ArriveCan app, was called to answer MPs’ queries. Inside the Commons, it felt like something from another century.” – Campbell Clark

First Nations peoples have lost confidence in Thunder Bay’s police force

“Thunder Bay has become ground zero for human-rights violations against Indigenous Peoples in Canada. Too many sudden and suspicious deaths of Indigenous Peoples have not been investigated properly. There have been too many reports on what is wrong with policing in the city – including ones by former chair of the Truth and Reconciliation Commission Murray Sinclair and former Toronto Police board chair Alok Mukherjee, and another one called “Broken Trust,” in which the Office of the Independent Police Review Director said the Thunder Bay Police Service (TBPS) was guilty of “systemic racism” in 2018. – Tanya Talaga.

The failure of Canada’s health care system is a disgrace – and a deadly one

“What can be said about Canada’s health care system that hasn’t been said countless times over, as we watch more and more people suffer and die as they wait for baseline standards of care? Despite our delusions, we don’t have “world-class” health care, as our Prime Minister has said; we don’t even have universal health care. What we have is health care if you’re lucky, or well connected, or if you happen to have a heart attack on a day when your closest ER is merely overcapacity as usual, and not stuffed to the point of incapacitation.” – Robyn Urback.

Got a news tip that you’d like us to look into? E-mail us at tips@globeandmail.com. Need to share documents securely? Reach out via SecureDrop.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Politics

GOP strategist reacts to Trump’s ‘unconventional’ request – CNN

Published

 on


GOP strategist reacts to Trump’s ‘unconventional’ request

Donald Trump’s campaign is asking Republican candidates and committees using the former president’s name and likeness to fundraise to give at least 5% of what they raise to the campaign, according to a letter obtained by CNN. CNN’s Steve Contorno and Republican strategist Rina Shah weigh in.


03:00

– Source:
CNN

Adblock test (Why?)

300x250x1

728x90x4

Source link

Continue Reading

Politics

Anger toward federal government at 6-year high: Nanos survey – CTV News

Published

 on


Most Canadians in March reported feeling angry or pessimistic towards the federal government than at any point in the last six years, according to a survey by Nanos Research.

Nanos has been measuring Canadians’ feelings of optimism, satisfaction, disinterest, anger, pessimism and uncertainty toward the federal government since November 2018.

The latest survey found that optimism had crept up slightly to 10 per cent since hitting an all-time low of eight per cent in September 2023.

300x250x1

However, 62 per cent of Canadians said they feel either pessimistic or angry, with respondents equally split between the two sentiments.

(Nanos Research)

“What we’ve seen is the anger quotient has hit a new record,” Nik Nanos, CTV’s official pollster and Nanos Research founder, said in an interview with CTV News’ Trend Line on Wednesday.

Only 11 per cent of Canadians felt satisfied, while another 11 per cent said they were disinterested.

Past survey results show anger toward the federal government has increased or held steady across the country since March 2023, while satisfaction has gradually declined.

Will the budget move the needle?

Since the survey was conducted before the federal government released its 2024 budget, there’s a chance the anger and pessimism of March could subside a little by the time Nanos takes the public’s temperature again. They could also stick.

The five most important issues to Canadians right now that would influence votes, according to another recent Nanos survey conducted for Bloomberg, include inflation and the cost of living, health care, climate change and the environment, housing affordability and taxes.

(Nanos Research)

With this year’s budget, the federal government pledged $52.9 billion in new spending while promising to maintain the 2023-24 federal deficit at $40.1 billion. The federal deficit is projected to be $39.8 billion in 2024-25.

The budget includes plans to boost new housing stock, roll out a national disability benefit, introduce carbon rebates for small businesses and increase taxes on Canada’s top-earners.

However, advocacy groups have complained it doesn’t do enough to address climate change, or support First Nations communities and Canadians with disabilities.

“Canada is poised for another disastrous wildfire season, but this budget fails to give the climate crisis the attention it urgently deserves,” Keith Brooks, program director for Environmental Defence, wrote in a statement on the organization’s website.

Meanwhile, when it comes to a promise to close what the Assembly of First Nations says is a sprawling Indigenous infrastructure gap, the budget falls short by more than $420 billion. And while advocacy groups have praised the impending roll-out of the Canada Disability Benefit, organizations like March of Dimes Canada and Daily Bread Food Bank say the estimated maximum benefit of $200 per month per recipient won’t be enough to lift Canadians with disabilities out of poverty.

According to Nanos, if Wednesday’s budget announcement isn’t enough to restore the federal government’s favour, no amount of spending will do the trick.

“If the Liberal numbers don’t move up after this, perhaps the listening lesson for the Liberals will be (that) spending is not the political solution for them to break this trend line,” Nanos said. “It’ll have to be something else.”

Conservatives in ‘majority territory’

While the Liberal party waits to see what kind of effect its budget will have on voters, the Conservatives are enjoying a clear lead when it comes to ballot tracking.

(Nanos Research)

“Any way you cut it right now, the Conservatives are in the driver’s seat,” Nanos said. “They’re in majority territory.”

According to Nanos Research ballot tracking from the week ending April 12, the Conservatives are the top choice for 40 per cent of respondents, the Liberals for 23.7 per cent and the NDP for 20.6 per cent.

Whether the Liberals or the Conservatives form the next government will come down, partly, to whether voters believe more government spending is, or isn’t, the key to helping working Canadians, Nanos said.

“Both of the parties are fighting for working Canadians … and we have two competing visions for that. For the Liberals, it’s about putting government support into their hands and creating social programs to support Canadians,” he said.

“For the Conservatives, it’s very different. It’s about reducing the size of government (and) reducing taxes.”

Watch the full episode of Trend Line in our video player at the top of this article. You can also listen in our audio player below, or wherever you get your podcasts. The next episode comes out Wednesday, May 1.

Methodology

Nanos conducted an RDD dual frame (land- and cell-lines) hybrid telephone and online random survey of 1,069 Canadians, 18 years of age or older, between March 31 and April 1, 2024, as part of an omnibus survey. Participants were randomly recruited by telephone using live agents and administered a survey online. The sample included both land- and cell-lines across Canada. The results were statistically checked and weighted by age and gender using the latest census information and the sample is geographically stratified to be representative of Canada. The margin of error for this survey is ±3.0 percentage points, 19 times out of 20.

With files from The Canadian Press, CTV News Senior Digital Parliamentary Reporter Rachel Aiello and CTV News Parliamentary Bureau Writer, Producer Spencer Van Dyke

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Trending