
Venezuelan workers at Disney put on leave from jobs after losing protective status
The move was made to make sure that the employees were not in violation of the law, Disney said in a statement Friday.
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Bloomberg
27 minutes ago
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Venezuela Ruling Party Sweeps Vote, Cementing One-Party Rule
President Nicolás Maduro said his ruling socialist party won a majority of mayorships in Sunday's local elections, solidifying its hold on power and pushing Venezuela further into one-party rule. Maduro said the socialist party secured victories in 285 out of 335 mayoral races in a speech following the results in downtown Caracas. In an initial bulletin on Sunday the electoral authorities said 82.5% of votes had been counted but final results were still pending.


Bloomberg
42 minutes ago
- Bloomberg
Venezuela's Maduro Set to Sweep Vote, Cementing One-Party Rule
President Nicolás Maduro's ruling socialist party is poised to sweep Sunday's local elections, with preliminary results showing government-aligned candidates winning control of key municipalities across Venezuela. With 82.5% of votes counted, officials said the United Socialist Party had secured victories in 26 out of 34 mayoral races in mayor cities across the country. While final results for 335 mayoral races are still pending, the tally so far points to a significant setback for opposition forces.
Yahoo
2 hours ago
- Yahoo
Japan Expects 1%-2% of $550 Billion US Fund to Be Investment
(Bloomberg) -- Japan expects just 1% to 2% of its recently agreed upon $550 billion US fund to be deployed as investment, with loans making up the majority, according to the nation's top chief negotiator Ryosei Akazawa. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Meanwhile, Tokyo stands to save roughly ¥10 trillion ($68 billion) through lower tariff rates in its deal with the US, Akazawa told public broadcaster NHK on Saturday. The details revealed by Akazawa suggest the Japanese may end up giving up much less than at first glance. The $550 billion investment framework combines investments, loans and loan guarantees provided by financial institutions backed by the Japanese government, Akazawa said. Of the total, investment will comprise 1% or 2% and the US and Japan will split the profits of that investment at a ratio of 90-10, he said. Japan had originally proposed a 50-50 ratio, he added. Officials from Japan and other countries that struck deals with the US are now sifting through the terms to explain them to the public. The fund is a centerpiece of the deal announced by the two sides that will impose 15% tariffs on Japanese cars and other goods. 'It's not that $550 billion in cash will be sent to the US,' Akazawa said. 'By letting the US have 90% of the profits rather than 50%, I think Japan's loss will be at most a couple of tens of billions of yen. People are saying various things, such as 'You sold out Japan,' but they're wrong.' For loans provided through the program, Japan will collect interest payments; and for loan guarantees, if nothing happens Japan will collect fees, Akazawa said. 'For that part, Japan's just making money,' he said. Akazawa also clarified that the investment program won't be only supporting Japanese and US firms. As a potential example, he cited a Taiwanese semiconductor firm building a factory in the US. 'We'd like to put the $550 billion in place during President Trump's term,' Akazawa added. Further details of the implementation of the US-Japan deal remain unclear, including when the new tariff rates will take effect and when the new investment vehicle will start. There's been no joint document signed by both sides for the deal, although the White House has published a fact sheet. 'If you say something like, 'Let's create a joint document,' they will say, 'We'll lower tariffs after the document is created,'' Akazawa said. In order to not lose time, 'we will demand that they issue an executive order to lower tariffs as soon as possible, regardless of a document.' Last week, Akazawa said he expects universal tariffs on Japan's shipments to be lowered to 15% on Aug. 1. He said he wants car tariffs to be cut to 15% as soon as possible without specifying a date. The Trump administration has touted the deal with Japan as a potential model for others. On Sunday, the US and European Union agreed on a deal that will see the bloc face 15% tariffs on most of its exports with the EU pledging to invest $600 billion in the US. --With assistance from Takashi Hirokawa. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data