Minnesota Governor Tim Walz calls Trump ‘a weak, cruel man' at rally
Walz spoke to a crowd today in South Carolina, telling the audience that Trump 'punches down at people' and referred to him as 'a dictator.'
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Winnipeg Free Press
33 minutes ago
- Winnipeg Free Press
Asian shares are mixed after Wall Street logs a 3rd straight winning week
BANGKOK (AP) — Asian shares are mixed and U.S. futures have edged higher after U.S. stocks logged their third straight winning week. Markets were closed for a holiday in Japan, where the ruling Liberal Democrats have lost their coalition majorities in both houses of parliament for the first time since 1955 following Sunday's election and the loss of their lower house majority in October. A grim Prime Minister Shigeru Ishiba has vowed to stay on, but the outcome of the upper house election reflects voters' frustration with rising prices and political instability. Analysts said they expect his weakened government to crank up spending, adding to Japan's huge debt burden. Japan is also facing the imposition of 25% tariffs across the board on its exports to the U.S. as talks with the Trump administration appear to have made little headway. 'We expect short-term political instability to intensify due to the difficulties of forming a majority coalition, a likely change in leadership, and a potential deadlock in trade negotiations,' Peter Hoflich of BMI, a part of the Fitch Group, said in a commentary. 'Without a structural reset through snap elections, Japan is likely to face prolonged policy drift throughout 2026,' he said. Chinese shares advanced after the central bank kept its key 1-year and 5-year loan prime interest rates unchanged. Hong Kong's Hang Seng rose 0.3% to 24,895.20, while the Shanghai Composite index gained 0.4% to 3,549.89. Recent stronger economic data have eased pressure on the Chinese leadership to soften credit. Meanwhile, President Donald Trump's administration has softened its criticism of Beijing, raising hopes that the two sides can work out a trade deal and avert the imposition of sharply higher tariffs on imports from China. South Korea's Kospi picked up 0.5% to 3,205.71 after the government reported a slight improvement in exports in June. In Australia, the S&P/ASX 200 shed 1.1% to 8,659.50, while Taiwan's Taiex dropped 0.3%. In India, the Sensex rose 0.2%, while Bangkok's SET was down 0.5%. This week will bring updates on U.S. home sales, jobless claims and manufacturing. Several Big Tech companies including Alphabet and Tesla are due to provide earnings reports. On Friday, the S&P 500 handed back less than 1 point after setting an all-time high the day before. The Dow Jones Industrial Average fell 0.3% and the Nasdaq composite edged up by less than 0.1% to add its own record. Norfolk Southern chugged 2.5% higher after an AP source said it was discussing a merger with Union Pacific to create the largest railroad in North America, one that would connect the East and West coasts. Any such deal, though, would likely face tough scrutiny from U.S. regulators. Union Pacific's stock fell 1.2%. The heaviest weight on the market, meanwhile, was Netflix, which fell 5.1% despite reporting a stronger-than-expected profit. Exxon Mobil sank 3.5% and also tugged on the market. It had been challenging Chevron's $53 billion deal to buy Hess, but an arbitration ruling in Paris about Hess assets off Guyana's coast allowed the buyout to go through. Chevron fell 0.9% after losing an early gain. Monday Mornings The latest local business news and a lookahead to the coming week. Treasury yields eased after a report suggested U.S. consumers may be feeling less fearful about coming inflation. They're bracing for inflation of 4.4% in the year ahead, down from last month's projection of 5%, according to preliminary results from a University of Michigan survey. Prices may already be starting to feel the upward effects of President Donald Trump' s higher tariffs, according to data released last week. The Trump administration is preparing to impose steeper import duties on many countries as of Aug. 1, although some have worked out deals to mitigate some of the damage. In other trading early Monday, U.S. benchmark crude oil gained 14 cents to $66.19 per barrel. Brent crude, the international standard, added 10 cents to $69.38 per barrel. The U.S. dollar rose to 148.50 Japanese yen from 147.98 yen. The euro slipped to $1.1628 from $1.1629.
Canada News.Net
6 hours ago
- Canada News.Net
Trump's $9B spending rollback wins approval in narrow House vote
WASHINGTON D.C.: In a rare use of presidential rescission powers, Congress has approved President Donald Trump's request to withdraw $9 billion in previously authorized spending, targeting public broadcasting and foreign aid. The move marks the first time in decades that such a request from a president has cleared both chambers. The House voted 216–213 early Friday to pass the bill, following a 51–48 vote in the Senate the day before. It now heads to Trump's desk for final approval. The cuts eliminate $1.1 billion in funding for the Corporation for Public Broadcasting (CPB) and nearly $8 billion from various foreign aid programs. While some Republicans expressed unease with the decision, most backed the measure, citing alignment with Trump's agenda and fiscal priorities. "We need to get back to fiscal sanity and this is an important step," said House Speaker Mike Johnson. Opponents, however, warned of the precedent the move sets. Democrats argued the bill undermines Congress' authority over federal spending and rolls back bipartisan commitments. "No one is buying the notion that Republicans are actually trying to improve wasteful spending," said House Democratic Leader Hakeem Jeffries. Public Broadcasting Faces Deep Cuts The CPB, which provides funding for more than 1,500 local public radio and television stations, will see its funding wiped out for the next two fiscal years. Much of its budget supports programming on PBS and NPR, as well as critical public safety infrastructure. Senator Lisa Murkowski of Alaska, one of two Republicans to vote against the bill, noted the vital role of public stations in remote areas. "It is your tsunami alert, it is your landslide alert, it is your volcano alert," she said. During debate, a 7.3 magnitude earthquake off the Alaska Peninsula underscored her point, triggering tsunami warnings broadcast by public radio. While the administration argues the system is politically biased and unnecessary, advocates say the cuts will severely impact rural and underserved communities. Kate Riley, president of America's Public Television Stations, called a proposed stopgap measure "a short-term, half-measure that will still result in cuts." Foreign Aid Programs Slashed The bulk of the rescinded funds target international humanitarian and development efforts. These include $800 million for refugee shelter and family reunification, $496 million for disaster relief, and $4.15 billion for programs promoting economic growth and democracy in developing countries. Democrats criticized the move as short-sighted. "This is not an America First bill. It's a China First bill because of the void that's being created," said Jeffries. The White House defended the cuts as a way to encourage other nations to contribute more, arguing that the rescissions serve U.S. taxpayers. More Cuts Likely Ahead Office of Management and Budget Director Russ Vought signaled that further rescissions could follow. "We're happy to go to great lengths to get this thing done," he said. "Another rescissions package is likely to come soon."
Vancouver Sun
7 hours ago
- Vancouver Sun
Trump threatens to hold up stadium deal if Washington Commanders don't switch back to Redskins
CLEVELAND (AP) — President Donald Trump is threatening to hold up a new stadium deal for Washington's NFL team if it does not restore its old name of the Redskins, which was considered offensive to Native Americans. Trump also said Sunday that he wants Cleveland's baseball team to revert to its former name, the Indians, saying there was a 'big clamouring for this' as well. The Washington Commanders and Cleveland Guardians have had their current names since the 2022 seasons and both have said they have no plans to change them back. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Trump said the Washington football team would be 'much more valuable' if it restored its old name. 'I may put a restriction on them that if they don't change the name back to the original 'Washington Redskins,' and get rid of the ridiculous moniker, 'Washington Commanders,' I won't make a deal for them to build a Stadium in Washington,' Trump said on his social media site. His latest interest in changing the name reflects his broader effort to roll back changes that followed a national debate on cultural sensitivity and racial justice. The team announced it would drop the Redskins name and the Indian head logo in 2020 during a broader reckoning with systemic racism and police brutality. The Commanders and the District of Columbia government announced a deal earlier this year to build a new home for the football team at the site the old RFK Stadium, the place the franchise called home for more than three decades. Trump's ability to hold up the deal remains to be seen. President Joe Biden signed a bill in January that transferred the land from the federal government to the District of Columbia. The provision was part of a short-term spending bill passed by Congress in December. While D.C. residents elect a mayor, a city council and commissioners to run day-to-day operations, Congress maintains control of the city's budget. Josh Harris, whose group bought the Commanders from former owner Dan Snyder in 2023, said earlier this year the name was here to stay. Not long after taking over, Harris quieted speculation about going back to Redskins, saying that would not happen. The team did not immediately respond to a request for comment following Trump's statement. The Washington team started in Boston as the Redskins in 1933 before moving to the nation's capital four years later. The Cleveland Guardians' president of baseball operations, Chris Antonetti, indicated before Sunday's game against the Athletics that there weren't any plans to revisit the name change. 'We understand there are different perspectives on the decision we made a few years ago, but obviously it's a decision we made. We've got the opportunity to build a brand as the Guardians over the last four years and are excited about the future that's in front of us,' he said. Cleveland announced in December 2020 it would drop Indians. It announced the switch to Guardians in July 2021. In 2018, the team phased out 'Chief Wahoo' as its primary logo. The name changes had their share of supporters and critics as part of the national discussions about logos and names considered racist. Trump posted Sunday afternoon that 'The Owner of the Cleveland Baseball Team, Matt Dolan, who is very political, has lost three Elections in a row because of that ridiculous name change. What he doesn't understand is that if he changed the name back to the Cleveland Indians, he might actually win an Election. Indians are being treated very unfairly. MAKE INDIANS GREAT AGAIN (MIGA)!' Matt Dolan, the son of the late Larry Dolan, no longer has a role with the Guardians. He ran the team's charity endeavours until 2016. Matt Dolan was a candidate in the Ohio U.S. Senate elections in 2022 and '24, but lost. Washington and Cleveland share another thing in common. David Blitzer is a member of Harris' ownership group with the Commanders and holds a minority stake in the Guardians.
