Lessons from the US-China trade war
Hosts: Mike Bird and Ethan Wu. Guests: Edward Fishman of the Center on Global Energy Policy and Columbia University, and author of 'Chokepoints: American Power in the Age of Economic Warfare'; and Dan Wang, research fellow at Stanford's Hoover History Lab and author of 'Breakneck: China's Quest to Engineer th e Future'.
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Reuters
29 minutes ago
- Reuters
Liverpool spending backed by title win and long-term plan, says CEO
July 24 (Reuters) - Liverpool's big-money investment on transfers is the result of long-term planning, club CEO Billy Hogan said, adding that winning a record-equalling 20th English top-flight title convinced the club it was time to act like a modern powerhouse. Liverpool's latest acquisition, French striker Hugo Ekitike from Eintracht Frankfurt in a deal worth 79 million pounds ($106.84 million), including add-ons, has taken the club's transfer expenditure this window to nearly 300 million pounds. Outgoings, six players including Trent Alexander-Arnold, have so far generated around 64 million pounds. The outlay marks a sharp departure from Liverpool's traditionally measured approach in the market. However, Hogan insists the club has not deviated from the club's policy of financial sustainability. "It doesn't just happen; it's been years in the making," Hogan told The Athletic, opens new tab in an interview. "One of the things we're constantly focused on is that 'virtuous circle'. Trying to run the club in the right way to ensure that we can generate as much revenue as we possibly can. That obviously helps in terms of being able to put more back into the team. "The difficulty is if you just look at one individual summer. That probably skews the data. There were a lot of comments made last summer that we didn't spend enough..." Hogan explained the approach reflects the ambitions of American-led Fenway Sports Group (FSG), who are seeking to build on last season's Premier League title under manager Arne Slot. "We also recognise, having won the English league title for the 20th time, that this is one of the biggest clubs in the world. We want to make sure that we are behaving like one," he added. "Having massive global stars come and play at Anfield, filling out stadiums in Hong Kong and Japan, those are things we expect and want to do." Liverpool face AC Milan in Kowloon, Hong Kong on Saturday, before taking on Yokohama FM in the J League World Challenge in Yokohama on Wednesday. They begin their Premier League title defence at home against Bournemouth on August 15. ($1 = 0.7394 pounds)
South Wales Guardian
34 minutes ago
- South Wales Guardian
Woody Johnson completes purchase of Crystal Palace shares
American businessman Johnson – who is co-owner of the New York Jets – joins chairman Steve Parish, Josh Harris and David Blitzer as a partner and director of the Eagles, and has also signed the Premier League's Owners' Charter. 'I am honoured and privileged to be joining the ownership group of Crystal Palace Football Club,' Johnson told the Eagles website. We are pleased to confirm that Woody Johnson's purchase of Eagle Football's shareholding in the club has now been completed.#CPFC — Crystal Palace F.C. (@CPFC) July 24, 2025 'It is an organisation with a proud history, tradition, and deep roots in English football in South London, which I came to admire during my time as US Ambassador to the United Kingdom. 'Eagles fans have demonstrated extraordinary loyalty, passion, and unwavering dedication and I am excited to meet and get to know them. 'I have great respect for Steve Parish and the leadership he has provided over the years. 'I look forward to working with him and the entire ownership group to build on the club's recent successes and help shape an exciting future for Crystal Palace. 'This is more than an investment – it's a commitment to realising the vision for the club, the community, and the culture around Selhurst Park.' Johnson's arrival at Palace comes with the club in dispute with UEFA over which European competition they will play in next season after winning the FA Cup in May. The Eagles were demoted from the Europa League to the Conference League after falling foul of UEFA's rules governing multi-club ownership, but have submitted an appeal to the Court of Arbitration for Sport. UEFA determined that as of March 1, American businessman John Textor had control or influence in Palace and French club Lyon. Textor said he had agreed to sell his stake in Palace to Johnson, but the move came too late to satisfy UEFA. Parish said: 'At this exciting time for Crystal Palace, we are delighted to be welcoming Woody to the ownership of the football club, and we very much look forward to working alongside him to build on our historic recent success moving forwards.'
The Independent
an hour ago
- The Independent
Exclusive: Pam Bondi says she doesn't want new jet after The Independent exposes FBI plan for new airplane to shuttle her around
The FBI is seeking a new private jet, which will be used not only by the bureau's elite Critical Incident Response Group, but also for 'executive transportation' by FBI Director Kash Patel and Attorney General Pam Bondi. However, following a report on Wednesday by The Independent about the intended acquisition, a spokesman for Bondi now claims the AG is against the purchase and wants nothing to do with it. 'The FBI has an independent procurement process for the director and their agents,' Department of Justice spokesman Gates McGavick told The Independent. 'Neither the attorney general nor other DOJ leadership knew about this and see no need for its use in Main Justice.' 'Main Justice' is the colloquial name for DOJ headquarters. A DOJ source said Bondi would like to see the FBI's request for proposals rescinded, and that he is happy with her present travel arrangements. At the same time, an FBI spokesman told The Independent that obtaining a new jet will actually be a money-saver for taxpayers. 'The plane in question is for critical functions such as hostage rescue team deployments, international operations, SWAT ops, and other national security related purposes – but the current lease structure is unnecessarily wasteful,' the spokesman said. 'As we've done with other assets, like moving the headquarters building, the FBI is evaluating available options to better serve the American people at a much lower and more efficient cost to the taxpayer.' The ultra-long-range business jet is meant to fly agents and other bureau personnel to far-flung global locations for counterterrorism response, 'high-risk operations,' and other 'sensitive missions,' according to procurement documents reviewed by The Independent. Alongside the government's request for proposals, a related statement of objectives says the aircraft 'will also support executive transportation requirements for the FBI Director and the U.S. Attorney General,' namely, Patel and Bondi. The feds want a plane that flies at speeds of Mach 0.83 or higher, with Mach 0.85 listed in the RFP as 'preferred.' It must have a minimum range of 7,000 nautical miles, be able to seat at least 12 passengers, three crew, and 1,000 lbs. of cargo, the RFP states. That means the feds need something along the lines of a Gulfstream G800, which seats 19 and can travel 7,000 nautical miles at Mach 0.90, or a Bombardier Global 8000, which seats 19 and can travel 8,000 nautical miles at Mach 0.94. No prices are included in the solicitation paperwork, but the G800 starts at about $72.5 million, while the base model Global 8000 lists for roughly $78 million. The FBI paid $2.4 million to lease a Gulfstream V for six months in 2016, after a procurement process marked by numerous deficiencies, according to an audit the following year by the DOJ's Office of the Inspector General. In May, Patel told legislators that the FBI was spending far beyond its means and was $1 billion in the red. The 45-year-old Las Vegas resident has been pilloried in recent months for his apparently robust use of the FBI's private jet fleet to make personal trips. Government officials are required to reimburse the cost of any flights – at commercial coach fares – that are not for official business. Patel has reportedly used government aircraft to visit Nashville, Tennessee, where his country-singer girlfriend lives, to go to hockey games in New York City, to go to Las Vegas and to attend at least one UFC fight in Miami, where he sat ringside with President Trump. In May, Senate Democrats requested that the U.S. Government Accountability Office look into Patel's travel on government planes, which he is required to do, while at the same time making them unavailable for FBI emergencies. 'Those aircraft have been procured or leased specifically to support operational needs,' former FBI counterterrorism official Christopher O'Leary told CBS News in April. 'The concern is that the routine use of them by the director and deputy director for personal travel could take a critical resource offline when they are sometimes needed at a moment's notice.' Craig Holman, a governmental ethics and campaign finance expert at Washington, D.C. watchdog nonprofit Public Citizen, says the expenditure shows the Trump team going against its relentless claims of 'cost-efficiency.' 'For an administration that wants to put on a veneer of cutting waste, fraud and abuse in government spending, it sure doesn't have any qualms when it comes to lavish spending on expensive new jets and other luxuries for itself,' Holman told The Independent. '... Meanwhile, the administration is slashing spending on health care, education and worker safety for the rest of us.' Since Trump retook the White House in January, the administration has decimated school lunch programs, thrown millions off of Medicaid and enacted tax cuts that will boost incomes for the wealthy while raising taxes on working Americans, experts say. Before he took over as head of the FBI, Patel slammed then-FBI Director Christopher Wray for using bureau aircraft for personal trips, telling his podcast audience that Wray's flights should be 'ground[ed]. (Wray said he reimbursed the government for all personal use.) Bondi and Patel clashed earlier this year over the so-called Epstein files, the FBI documents related to its investigation of the notorious sex offender whose ties to the rich and famous, including Donald Trump, are now well-known. 'Dear Director Patel, Before you came into office, I requested the full and complete files related to Jeffrey Epstein,' Bondi wrote in a February 27 letter. '... Late yesterday; I learned from a source that the FBI Field Office in New York was in possession of thousands of pages of documents related to the investigation and indictment of Epstein. Despite my repeated requests, the FBI never disclosed the existence of these files.' The files have still not been released, with Bondi recently announcing that Epstein's hotly anticipated 'client list,' which she once said was 'on her desk' and ready for public dissemination, did not in fact exist.
