logo
Taking Hegseth Seriously on ‘Fake News' and the Iran Strike

Taking Hegseth Seriously on ‘Fake News' and the Iran Strike

A former TV journalist may not be a defense secretary for all seasons, but Pete Hegseth proved his usefulness Thursday by telling what radio man Paul Harvey used to call the rest of the story.
It concerned a preliminary, thinly based and cursory analysis by the Defense Intelligence Agency (one of 18 federal intelligence agencies) with a pessimistic account of the Iran strikes even as more valid information was pouring in about the recently-completed bombing mission.
One might even ask if the essentially worthless review was commissioned to be leaked.
Mr. Hegseth, in an understandable rant, referred to 'fake news' and the media's desire for grist and 'spin, spin, spin' to paint the Donald Trump-ordered strikes in a bad light. He's right. Even a decade from now some Americans will likely cling to the dismissive DIA report just as they cling to the Steele dossier because they want it to be true.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US Steel buyout gives Trump a new power: What about future presidents?
US Steel buyout gives Trump a new power: What about future presidents?

Yahoo

time29 minutes ago

  • Yahoo

US Steel buyout gives Trump a new power: What about future presidents?

President Donald Trump will control the so-called 'golden share' that's part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out American steelmaker US Steel. That's according to disclosures filed with the US Securities and Exchange Commission. The provision gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers. Under the provision, Trump — or someone he designates — controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings. The White House responded in a statement that the share is 'not granted to Trump specifically, but to whoever the president is". Officials were asked why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents. Still, the wording of the provision is specific to Trump. It lists what decisions cannot be made without 'the written consent of Donald J. Trump or President Trump's Designee' at 'any time when Donald J. Trump is serving as President of the United States of America' or 'at any other time, the written consent of the CMAs', a contractual term for the Treasury and Commerce departments. Nippon Steel's nearly $15 billion buyout of Pittsburgh-based US Steel became final last week, making US Steel a wholly-owned subsidiary. Trump has sought to characterise the acquisition as a "partnership" between the two companies after he at first vowed to block the deal — as former President Joe Biden did on his way out of the White House — before changing his mind after he became president. Related Nippon Steel finalises US Steel takeover after state opposition President Trump orders review into Nippon Steel's bid for US Steel The national security agreement became effective 13 June and is between Nippon Steel, as well as its American subsidiary, and the federal government, represented by the departments of Commerce and Treasury, according to the disclosures. The complete national security agreement hasn't been published publicly, although aspects of it have been outlined in statements and securities filings made by the companies, US Steel said Wednesday. The pursuit by Nippon Steel dragged on for a year and a half, weighed down by national security concerns, opposition by the United Steelworkers, and presidential politics in the premier battleground state of Pennsylvania, where US Steel is headquartered. The combined company will become the world's fourth-largest steelmaker in an industry dominated by Chinese companies, and bring what analysts say is Nippon Steel's top-notch technology to US Steel's antiquated steelmaking processes. That's on top of a commitment to invest $11bn to upgrade US Steel facilities. The potential that the deal could be permanently blocked forced Nippon Steel to sweeten the deal. That included upping its capital commitments in US Steel facilities and adding the golden share provision, giving Trump a veto power on specific matters and the right to appoint an independent director. Those matters include reductions in Nippon Steel's capital commitments in the national security agreement; changing US Steel's name and headquarters; closing or idling US Steel's plants; transferring production or jobs outside of the US; buying competing businesses in the US; and certain decisions on trade, labour and sourcing outside the US.

Beijing confirms that it has signed a trade agreement with the US
Beijing confirms that it has signed a trade agreement with the US

Yahoo

time29 minutes ago

  • Yahoo

Beijing confirms that it has signed a trade agreement with the US

The US and China have now signed a trade agreement, said China's Ministry of Commerce on Friday, bringing the two economies further into alignment after the threat of a major trade war. A released statement said that China would continue to approve export permits of controlled items, and that the US would "cancel a series of restrictive measures taken against China accordingly". The statement comes after US President Donald Trump told reporters at the White House late on Thursday that the two nations had reached an agreement. 'We just signed with China yesterday,' he said, offering no further details. Initial talks in Geneva in early May led both China and the US to postpone massive tariff hikes that were threatening to freeze much of the trade between the two countries. Later talks in London set a framework for negotiations, and the deal mentioned by Trump appeared to formalise that agreement. China announced earlier this week that it was speeding up export approvals of rare earths, materials used in high-tech products such as electric vehicles. Beijing's limits on exports of rare earths have been a key point of contention. The Chinese Commerce Ministry said on Thursday that Beijing was accelerating a review of export license applications for rare earths and had approved "a certain number of compliant applications." Related Trump says US has reached a trade deal with China US Steel buyout gives Trump a new power: What about future presidents? Export controls of the minerals apparently eclipsed tariffs in the latest round of trade negotiations between Beijing and Washington after China imposed permitting requirements on seven rare earth elements in April, threatening to disrupt production of cars, robots, wind turbines and other high-tech products in the US and around the world. The agreement struck in May in Geneva called for both sides to scale back punitive tariff hikes imposed as Trump escalated his trade war and sharply raised import duties. Some higher tariffs, such as those imposed by Washington related to the trade in fentanyl, as well as duties on aluminium and steel, remain in place. The rapidly shifting policies are taking a toll on both of the world's two largest economies. The US economy contracted at a 0.5% annual pace from January through March, partly because imports surged as companies and households rushed to buy foreign goods before Trump could impose tariffs on them. In China, factory profits sank more than 9% from a year earlier in May, with automakers suffering a large share of that drop. They fell more than 1% year-on-year in January to May. Trump and other US officials have indicated they expect to reach trade deals with many other countries, including India. "We're going to have deal after deal after deal," Lutnick said.

Gray Television's Q1 Earnings Call: Our Top 5 Analyst Questions
Gray Television's Q1 Earnings Call: Our Top 5 Analyst Questions

Yahoo

time29 minutes ago

  • Yahoo

Gray Television's Q1 Earnings Call: Our Top 5 Analyst Questions

Gray Television's first quarter results for 2025 were received positively by the market, as the company exceeded Wall Street's revenue and profit expectations despite a year-over-year sales decline. Management attributed the quarter's performance to stronger-than-anticipated political advertising, ongoing cost containment, and the growing contribution from local sports broadcasting. CEO Hilton Howell highlighted the impact of new local sports rights agreements, stating, 'the combination of our premier local news franchises with local sports make our local stations even more relevant and more valuable than ever.' Is now the time to buy GTN? Find out in our full research report (it's free). Revenue: $782 million vs analyst estimates of $773.2 million (5% year-on-year decline, 1.1% beat) Operating Margin: 11.8%, down from 15.1% in the same quarter last year Market Capitalization: $476.1 million While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Dan Kurnos (Benchmark): Asked about the company's strategic flexibility if deregulatory changes materialize. Chief Legal and Development Officer Kevin Latek indicated Gray Television is considering swaps and other transactions but awaits regulatory clarity before acting. Aaron Watts (Deutsche Bank): Inquired whether advertising declines were due to cancellations or delayed bookings. President Pat LaPlatney clarified that hesitancy, not cancellations, was the issue, and pointed to growth in service categories and unexpected political revenue as positive signs. Patrick Sholl (Wells Fargo): Questioned expectations for political advertising versus prior cycles. CEO Hilton Howell noted that this cycle has seen more substantial and earlier ad buys than previous midterms, but acknowledged political ad revenue is difficult to predict. Craig Huber (Huber Research): Sought details on Assembly Studios' leasing progress and financial contribution. CEO Howell stated occupancy is about 75-80%, with additional upside possible, and CFO Gignac said returns will improve as more leases are signed and new phases of development are completed. Alan Gould (Loop Capital): Asked about the impact of direct negotiations with virtual multichannel video programming distributors (vMVPDs) on retransmission revenue. Latek responded that there is a significant difference in rates, but the net impact would depend on network agreements if regulations change. In the coming quarters, the StockStory team will track (1) the pace of local sports rights adoption and the impact on station viewership and ad sales, (2) evidence of sustained political ad revenue during a non-election cycle, and (3) progress on cost containment translating into improved margins and deleveraging. Developments in industry regulation and the potential for market consolidation will also be important signals for Gray Television's future trajectory. Gray Television currently trades at $4.55, up from $3.72 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store