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Middle East Eye
2 days ago
- Politics
- Middle East Eye
Trump calls Netanyahu's corruption trial 'witch hunt' as he eyes progress on Gaza ceasefire
US President Donald Trump called for Israeli Prime Minister Benjamin Netanyahu's corruption trial to be cancelled, calling it a 'ridiculous Witch Hunt', in an unprecedented intervention into Israel's domestic affairs. Trump, who is widely popular in Israel, wrote on his Truth Social media platform that Netanyahu's five-year trial was a 'TRAVESTY OF JUSTICE' and 'CAN NOT BE ALLOWED!' 'Bibi Netanyahu's trial should be CANCELLED, IMMEDIATELY, or a Pardon given to a Great Hero, who has done so much for the State,' Trump added. Netanyahu's corruption trial has been regularly delayed since the Hamas-led attack on southern Israel on 7 October 2023. The attack triggered a devastating years-long Israeli war on Gaza that Israel expanded into a regional war. Many analysts say Netanyahu has tied his political survival to continuing the regional war, particularly in Gaza, where Israeli troops continue to occupy land and engage Palestinian fighters. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Trump's comments on the corruption trial come as his administration turns its focus from Israel's "12-day war" with Iran, back to Gaza. 'I think great progress is being made on Gaza,' Trump told reporters at the Nato summit in The Hague, Netherlands. 'I think we're going to have some very good news.' On Thursday, Israel's Kan public broadcaster said Trump's post 'wasn't sent out for no reason" and was part of an effort to end the war in Gaza. 'It is part of a larger move that is meant to bring an end to the war in Gaza, the release of all the hostages, an end to Netanyahu's trial, and a serious regional move,' Kan cited an Israeli official as saying. More than 56,0000 Palestinians have been killed by Israel's offensive, and the besieged enclave is on the verge of famine. Israel has allowed a trickle of aid into the enclave through a programme controlled by an American private military contracting firm that has led to at least 549 Palestinian aid-seekers being killed. Netanyahu, Israel's longest-serving prime minister, has denied any wrongdoing in the trial, which began in May 2020. In one case, Netanyahu and his wife, Sara, are accused of accepting more than $260,000 worth of luxury goods, including cigars, jewellery, and champagne, from billionaires in exchange for political favours. In two other cases, Netanyahu is accused of attempting to negotiate more favourable coverage in two Israeli media outlets. Trump says he 'obliterated' Iran's nuclear programme. So does he need a deal? Read More » Trump's intervention comes after a whirlwind week which saw the US launch strikes on Iran's Fordow, Natanz and Isfahan nuclear facilities. In return, Iran choreographed a retaliatory strike on a US military base in Qatar. Then Trump brokered a ceasefire between Iran and Israel. Trump lashed out at Israel and Iran on Tuesday as his ceasefire appeared to falter, saying the two foes 'have been fighting so long and so hard that they don't know what the fuck they're doing". Trump said he was especially mad at Israel, which he said 'unloaded' bombs on Iran because of an Iranian rocket 'that didn't land anywhere", adding, "I've got to get Israel to calm down now.' After warning Israel to turn its bombers around, Trump thanked Israel. He also profusely thanked Iran for giving the US advance warning about its retaliatory strike. Trump's intervention on behalf of Netanyahu could boost the Israeli leader at home. According to a Pew Poll released in June before Israel's attack on Iran, 73 percent of Jewish Israelis said they had confidence in Trump. However, Israelis are deeply divided, especially over internal differences such as ultra-Orthodox conscription into the army and the country's judicial crisis that had consumed the public before 7 October 2023. One of Netanyahu's coalition allies, Simcha Rothman of the far-right Religious Zionism party, called for Trump to stay out of Netanyahu's court case. "It is not the role of the president of the United States to interfere in legal proceedings in the State of Israel," said Rothman, who chairs the Israeli parliament's judicial affairs committee. Foreign Minister Gideon Saar said it was "distorted, unreasonable, contrary to the basic sense of justice" to continue Netanyahu's trial while Israel is at war, also backing Trump's call to drop the charges.
Newsweek
2 days ago
- Politics
- Newsweek
Netanyahu Reacts To Trump's Demands To Israel
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Benjamin Netanyahu said Thursday that he was "deeply moved" by Donald Trump's support after the president demanded that Israel drop its ongoing legal case against its prime minister. "I was deeply moved by your heartfelt support for me and your incredible support for Israel and the Jewish people," Netanyahu said in a post on X, formerly Twitter, on Thursday. "I look forward to continue working with you to defeat our common enemies, liberate our hostages and quickly expand the circle of peace." On Wednesday evening, Trump said on Truth Social he was "shocked" to hear that Israel was continuing its trial of Netanyahu, which he branded "politically motivated" and a "Witch Hunt against their Great War Time Prime The Israeli leader faces charges of fraud, breach of trust, and accepting bribes in three separate cases. Netanyahu, who has denied all allegations, is due to return to court on Monday. This is a breaking news story, more updates to follow.
RTÉ News
2 days ago
- Business
- RTÉ News
Widespread concerns among bank staff over AI
There is widespread concern among staff in the financial services sector over the possible effects of artificial intelligence (AI), according to a new survey. The research was conducted by the Financial Services Union (FSU) and the think tank TASC. It shows that job displacement, lack of reskilling opportunities and bias in decision-making are among the top concerns for workers. The report examined both the opportunities and challenges posed by AI and found that 88% of respondents believe AI will lead to job displacement, while 60% report feeling less secure in their roles than they did five years ago. Over 61% of respondents expressed unease about AI being used in hiring, firing, and promotion decisions. More than half of workers said they are concerned about increased managerial oversight and surveillance through AI systems, fearing a loss of privacy and greater performance monitoring. Despite these concerns, some workers recognised AI's positive impacts. Around 45% of respondents said they feel AI may lead to less time spent on administrative tasks and 30% feel it may improve data analytics. "The use of artificial intelligence is expanding at an alarming rate across the financial services sector, and it is incumbent on all key stakeholders to ensure AI is used for the benefit of workers and consumers," said FSU General Secretary John O'Connell. "The FSU has successfully concluded an AI agreement with Bank of Ireland which commits the bank to collectively bargain any changes that may occur due to the expansion of AI," Mr O'Connell added. Molly Newell, researcher at TASC, said that without clear commitments to equity, inclusion, and transparency, the widespread adoption of AI in financial services risks deepening existing inequalities. "We must ensure this technology serves the common good - strengthening, rather than undermining, social and economic cohesion," Ms Newell said. The Financial Services Union surveyed 604 employees, 602 of whom were FSU members. On Monday, the Chief Executive of AIB Colin Hunt took part in a panel discussion at a Bloomberg event in Dublin. Asked what impact AI will have on staffing numbers at the bank over the next five years, Mr Hunt said it may lead to a small reduction in net headcount. "I do think that there are certain manual processes that we do now that will be done by AI in the future, and probably net headcount will be broadly stable with a slight downward bias maybe," Mr Hunt said.
CNBC
3 days ago
- Business
- CNBC
CNBC's UK Exchange newsletter: The U.K.'s pension shake-up is facing pushback
Since the Global Financial Crisis, poor productivity has bedeviled the U.K. economy for various reasons, including regional disparities and over-dependence on London and the southeast of England. Most economists agree, though, that the main factor has been low investment in skills and infrastructure. In response, the last government devised the "Mansion House reforms" in July 2023, so-called because Jeremy Hunt, then chancellor of the Exchequer, announced them at the official residence of the Lord Mayor of London (the Lord Mayor, not to be confused with Sadiq Khan, the mayor of London, is head of the City of London Corporation, the Square Mile's governing body). The proposals sought to unlock £75 billion ($102 billion) from defined contribution and local government pension schemes with the aim of directing a greater proportion of retirement savings toward private markets and assets such as infrastructure. In his announcement — which carried approving quotes from the likes of Jamie Dimon, chairman and CEO of JP Morgan Chase, and C.S. Venkatakrishnan, the Barclays CEO — Hunt noted: "The United Kingdom has the largest pension market in Europe, worth over £2.5 trillion … but how this money is invested is limiting returns for savers." "Comparable Australian schemes invest ten times more in private markets than U.K. schemes, reaping rewards that U.K. savers are missing out on," he went on. The news was accompanied by a "Mansion House compact" in which nine of the U.K.'s largest defined contribution pension providers committed to allocate 5% of assets in their default funds to unlisted assets, such as private equity or start-ups, by 2030. When Rachel Reeves succeeded Hunt, in July 2024, she pledged to build on the proposals and, for a while, there was excitement in the pensions industry. Unfortunately, it feels as if that initial enthusiasm has curdled. An early indication the industry might not be completely in tune with Reeves's ambitions came after she announced, last November, plans to create "megafunds" — modelled on Australia's superannuation funds and Canadian pension schemes such as the Ontario Teachers' Pension Plan — by consolidating assets from 86 separate local government pension scheme authorities into eight pools each worth an average of £50 billion by 2030. In theory, this would unlock huge efficiency gains, as well as allowing more money to be invested, longer term, in private assets and infrastructure. But it has run into criticism — partly because local authorities fear losing influence over how their pension assets are invested and partly because of the likely job losses among local government officials. Alongside this, the government aims to encourage consolidation among the U.K.'s defined contribution pensions, the main means by which Britons now save for retirement. It wants defined contribution multi-employer pension schemes to be worth at least £25 billion by 2030, again with the aim of building scale and efficiency, with schemes also empowered to transfer assets into the planned megafunds. This has won broad industry backing. In May, 17 leading defined contribution scheme providers signed the "Mansion House accord," building on Hunt's 2023 compact, volunteering to invest 10% of their workplace portfolios in assets like infrastructure, property and private equity by 2030. At least 5% would be ring fenced for U.K. assets. So far, so good. Explosively, though, the government is planning a "backstop provision" allowing it to set "binding asset allocation targets" — in other words, forcing megafunds to invest in private markets and U.K. assets if they fail to meet the voluntary targets. The justification is to ensure some schemes do not lose business by making costly up-front investments, while rivals hold back. But it has proved contentious. Some in the industry question why ministers should tell them how to allocate assets and have noted the irony in ministers and civil servants — who enjoy generous defined benefit pensions funded by taxpayers — obliging those same taxpayers to adopt more risk with their own retirement savings. Amanda Blanc, chief executive of Aviva, one of the U.K.'s biggest insurers, spoke for many when she called the measure a "sledgehammer to crack a nut." UK stocks in the spotlight There are questions on how mandation might be enforced and why, if unlisted assets are so attractive, these schemes are not already invested in them. Several senior leaders have also told me privately that there is insufficient industry expertise to manage such assets. Reeves sought to defend the move when, last week, she told The Times CEO Summit that she doubted it would be necessary to use the backstop. However, the following day, the Financial Times reported that Scottish Widows, the U.K.'s second-largest pensions provider, is cutting the U.K. equities allocation in its highest growth portfolio from 12% to just 3%. Significantly, Scottish Widows — which is owned by Lloyds Banking Group — had signed the original Mansion House compact, but not the later accord. Simon French, the influential head of research at the investment bank Panmure Liberum, described it as "an inevitable reaction to the Mansion House accord which … pushes/strong-arms U.K. pension flows into private assets over the next five years." Ironically, all this is happening just as, after years of indifference among investors, U.K. equities are having their moment in the sun, with the FTSE 100 so far outperforming not only the pan-European Stoxx Europe 600 but also the S&P 500 this year. One prominent City figure told me last week that his investment bank's trading desk had just enjoyed its busiest day in more than 20 years — with American investors, in particular, showing renewed interest in U.K. equities. Ministers will argue that, with tax relief to private pension contributions costing £46.8 billion in 2022-23, the latest year for which figures are available, they are entitled to ask for more pension savings to be channelled toward the U.K. economy. Institutions might respond that, if the government is keen to see that happen, it might remove some barriers to investing in the U.K. such as the unpopular 0.5% levy paid on share purchases. It all creates a sense that, while ministers and investors are agreed on the desirability of investing more in the U.K., there is little agreement on how to achieve that. And it certainly feels as if Reeves and her colleagues are more interested in seeing investment in private assets rather than public of London can be a springboard for economic growth in the UK, says the Lord Mayor Alastair King, the Lord Mayor of London, discusses business activity in London ahead of the UK government's 10-year industrial strategy. The future of exchanges: Global capital flows in the age of Trump, tariffs and trade wars CNBC's Martin Soong hosts a roundtable in Singapore with stock exchange leaders from around the world to discuss how U.S. exceptionalism is reshaping global capital flows. Europe has been underinvesting in defense, says Deutsche Bank CEO Christian Sewing, CEO of Deutsche Bank discusses how the business is responding to current geopolitical uncertainty and outlines how the bank plans to finance defense spending through a mix of public and private sector could face changes to search in the UK as regulators crack down. Britain's Competition and Markets Authority said it's consulting on a proposal to give Google "strategic market status." NATO allies pledge to hike defense spending – but will they deliver? Whether allies' defense spending promises materialize is the key question. Conflict or ceasefire, most markets remain unfazed — here's why. Global equities posted muted gains Tuesday, as investors digested U.S. President Donald Trump's announcement of a ceasefire between Iran and Israel, as well as growing signs of fatigue toward Trump's policymaking.U.K. stocks have fallen by 0.8% over the last week, with the FTSE 100 finally closing flat on Tuesday after three consecutive trading days of losses. Meanwhile, the British Pound gained nearly 1% to reach $1.36, its strongest level against the U.S. dollar since January 2022, according to FactSet. In government bond markets, 10-year gilt yields slipped over the last week and now trade around 4.47%. In case you missed it, Amazon said it will invest £40 billion in the U.K. over the next three years to build and upgrade its large warehouses. The British government welcomed the investment as it looks to boost domestic growth and productivity.
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Miami Herald
4 days ago
- Miami Herald
Man kills his ex then is found hiding in tree, Minnesota cops say. ‘Great shock'
A 44-year-old man is accused of killing his ex and hiding in a tree for hours in an attempt to evade capture in Minnesota, authorities said. Melissa Hunt, 36, was still alive but 'severely injured' when deputies responded to a call for help at 4:45 p.m. Wednesday, June 18, the Wabasha County Sheriff's Office said in a news release. However, she was taken to a hospital where she died a short time later — but not before she pointed investigators toward her accused killer, according to a criminal complaint filed June 20. Hunt was a 'daughter, sister, mom, niece, and friend' whose 'life was tragically cut short,' a Gofundme page read. 'Melissa (Hunt) died by the hand of another — senselessly — leaving her family and friends in great shock, pain, and sorrow.' A homeowner in Kellogg dialed 911 after Hunt pulled into their driveway with 'significant facial injuries,' the complaint read. She was missing teeth and part of her jaw, but still she spoke with deputies. She was physically unable to say the name of the person who attacked her, so she tried spelling it out letter by letter, and the deputies understood — 44-year-old Craig Hameister, her ex, according to the complaint. Hunt said Hameister assaulted her with a stick at a nearby boat launch, the complaint read. Investigators say gunshot residue was later found embedded in Hunt's wound. It was raining heavily at the boat launch and investigators initially found no evidence, but they located Hameister's truck in Chatfield, a town roughly 40 miles southwest from Kellogg by car. There was a 9mm pistol round on the floor of the truck, and a witness told deputies she saw Hameister earlier and that he was acting 'very frantic,' said 'something bad happened,' then left the area on a motorcycle, documents read. The witness added that Hameister warned her police would be coming, investigators said, then she realized a 9mm handgun belonging to her was missing. Hameister was found 16 miles away in Chester, the complaint said, and when authorities arrived, he climbed up a tree but 'was ultimately apprehended after an hours long standoff.' Investigators said a 9mm pistol was found at the bottom of the tree. Hameister is facing two counts of second-degree murder, records show. Each charge carries a sentence of up to 40 years in prison if convicted. Hunt 'loved all things art,' and was a mother of two girls who were her 'biggest passions in life,' an obituary read. Wabasha County is about an 80-mile drive southeast from Minneapolis.
