Latest news with #Oct7
Business Times
25-06-2025
- Business
- Business Times
CEOs need to stop outsourcing politics
THE Israel-Iran war. The Trump tariffs. The Oct 7 attacks. The Russian invasion of Ukraine. The Covid-19 pandemic and the inflation that followed. 'Once-in-a-generation events' that could previously be written off as Black Swans are now occurring routinely. Many were caused by government actions, and all resulted in government interventions that are likely to have sweeping economic impacts. At least since the end of the Cold War, and likely since the end of World War II, few American chief executive officers outside the defence industry have been evaluated on or chosen because of their understanding of politics. Most have delegated their dealings with government and international relations to lobbyists tasked with pushing for lower taxes and deregulation. That's no longer possible. Just as no competent leader would outsource key decisions about finance, strategy or marketing, a successful CEO now needs to be hands-on when it comes to questions of global government and politics. Perfect case study The Trump administration's tariffs are a perfect case study in how the business world fails to understand the political one. President Donald Trump campaigned on promises to put a minimum 10 per cent tax on all imports and a 60 per cent tax on imports from China. In fact, supporting tariffs may be Trump's only consistent political position: In 1987 he took out full-page ads in The New York Times demanding high tariffs on imports from Japan. And while Trump didn't impose wide-ranging tariffs in his first administration, it was clear long before his 2025 inauguration that he would be far less constrained and better able to implement his wishes this time around. So we have a president with a life-long belief in high tariffs, elected on a platform of high tariffs, surrounded by an administration he had handpicked to give him total freedom of action, whose chief economic adviser is an advocate of high tariffs. But when he announced high tariffs, the shock produced some of the biggest stock market drops in American history. This isn't just about the market. The tariffs prompted China to retaliate by putting export controls on rare earth minerals. Rising tensions between the US and China and the latter's functional monopoly on rare earth minerals were both well-known, but too many American companies were caught off guard. Ford Motor Co, for one, might have stockpiled the materials to guard against the breakdown of the nations' increasingly strained relationship, but instead was forced to shut down a factory. Political foresight, on the other hand, can pay huge dividends. Apple gained some protection from this international conflict by moving part of its iPhone production from China to India. That's a process it began back in 2015 and accelerated as a safeguard against the continuing deterioration of the relationship between the two countries even before Trump returned to office. A decade later, Apple's leaders and investors are surely grateful it was ahead of the curve. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up It's hard to explain companies' lack of preparation for such shocks as a product of anything other than an American business community trapped in an outdated political paradigm. US business has thrived in an environment where the government has typically shown deference to private sector interests and exercised limited intervention. That paradigm held for so long that it became as much of an unquestioned assumption as the law of gravity. Unlike gravity, though, it was an artifact of its time. That reality shattered with the 2008 financial crisis, which required the US government to deploy trillions of dollars to bail out the financial sector. The backlash left both major political parties far more open to market interventions – and far less likely to defer to business. Today, the three most popular American politicians currently in office are Senator Bernie Sanders, Senator Elizabeth Warren, and Representative Alexandria Ocasio-Cortez; all support increased regulation, taxes and government spending. (Trump, hardly a libertarian avatar, comes in fourth.) Adding to the importance of a deep understanding of government and politics is the return of militarised competition between major states. The globalisation that flourished after the fall of the Soviet Union has been rocked by surging competition between the US and China and the hostility between Nato and Russia that culminated in the invasion of Ukraine. Economics and globalism no longer dependably trump national security. Instead, trade barriers, export controls and concerns over the countries' ability to domestically produce defence-critical materials take precedence over free markets and corporate profits. Adapting to new reality But the way we train and select American business leaders hasn't kept pace with this new reality. Of the top 10 US business schools, only Harvard Business School and the Stanford Graduate School of Business require MBA candidates to take a course on government and politics. (I teach a required course on the topic for Executive MBA candidates at the Yale School of Management.) According to one analysis, only eight of the 2021 Fortune 500 CEOs had an undergraduate degree in political science; few, if any, have experience in senior political office. Universities, boards and CEOs all need to adapt to this new reality. Business schools need to make politics just as central to their curriculum as every other mission-critical skill. Even more importantly, boards need political sophistication within their own ranks and to make it a key part of their evaluations of future chief executives. Meanwhile, current CEOs must move up the learning curve fast. The political world isn't waiting on them anymore. BLOOMBERG The writer writes about corporate management and innovation. He teaches leadership at the Yale School of Management and is the author of Indispensable: When Leaders Really Matter
Yahoo
08-06-2025
- Politics
- Yahoo
Andrew Cuomo refuses to condemn Assembly Speaker Carl Heastie for killing bipartisan bill commemorating Oct. 7 attack on Israel
Ex-Gov. Andrew Cuomo refused to condemn state Assembly Speaker and longtime ally Carl Heastie for torpedoing a bipartisan bill that would have commemorated Hamas' Oct. 7, 2023 terror attack on the Jewish state. Cuomo, the frontrunner heading into the June 24 NYC Democratic mayoral primary, told The Post Saturday he was unaware of the bill or that the Bronx pol went to extraordinary lengths to ensure it didn't reach the Assembly floor for a vote. 'I don't know how it happened, but I have no doubt that the Democrats in the Legislature would all honor the memory of Oct. 7 and stand in unity in honoring Oct. 7,' he insisted after leaving the Attneu Synagogue on the Upper East Side, where he addressed members of its congregation. Although Cuomo wasn't willing to attack Heastie, he quickly jabbed Queens Assemblyman Zohran Mamdani — a socialist who has been polling second only to the former governor in the Democratic mayoral primary race. 'The Democratic Party is 100% in support of the Jewish community, and I'm sure would stand in solidarity in condemning Oct. 7,' he said. 'Democratic socialists, Zohran Mamdani, that's a different story.' 'The outlier is Zoran Mamdani and the Democratic socialists who said they won't visit Israel, who said they don't acknowledge Israel's right to exist as a Jewish state, but he does not represent the majority of Democrats in the city,' said Cuomo. Cuomo said he personally '100% support[s]' commemorating Oct. 7. The bill, sponsored in February by Brooklyn Republican Assemblyman Lester Chang, would enshrine Oct. 7 alongside other days of commemoration in the Empire State, such as 'Rosa Parks Day' and 'Susan B. Anthony Day.' Sources told The Post Friday they believe Heastie, the most powerful Democrat in the Assembly, likely didn't want a bill with a Republican as its primary sponsor to reach the floor for a vote, even though 13 Democrats have already signed on as co-sponsors. Chang said he'd let a Democrat take over as the bill's sponsor if it meant the measure would pass.
CNA
20-05-2025
- Politics
- CNA
Q&A with Maliki Osman ahead of his retirement from politics
SINGAPORE: Minister in the Prime Minister's Office Mohamad Maliki Osman announced last month that he would retire from politics after almost 25 years. In an interview with CNA ahead of his final day in office on Thursday (May 22), the veteran politician – who is also Second Minister for Foreign Affairs – spoke about the ongoing Israel-Hamas war. He said that while Singaporeans feel strongly about it, he hopes they can appreciate the complexity of the issues. The 59-year-old also shared his advice and regrets, including not being there for his family when he first entered politics. Q. The plight of the Palestinians continues to be a polarising topic among Singaporeans. Having been in the political scene, wearing the foreign affairs hat, what about the conflict do you want more Singaporeans to know? A: I came to MFA (Ministry of Foreign Affairs) some 10 years ago, and of course, (I have been) advancing Singapore's relations internationally. But nothing compares to the amount of work that (has been) invested since the Oct 7, 2023 incident. Prior to that, I've been traveling the Middle East several times. I've been to Ramallah prior to that, also because we have been supporting the Palestinian people for many years, looking at how best we can continue to support them, and we do this because we believe that as a small country, we do support countries which are faced with challenges that we had before. What happened after Oct 7 was very, very painful to many people, heart-wrenching as we see the visuals. It affects Singaporeans of all walks of life, not just Muslim Singaporeans. Young people feel very strongly about what they are seeing and and I think it's a very complex issue. I visited the Middle East many, many times … and even till today, I'm learning a lot more about the Middle East and the dynamic relationship between different countries, different people, different tribes. What I do hope Singaporeans can appreciate is that it's really a complex issue that did span very, very far, many, many years - even centuries for that matter. We've articulated very clearly that while Israel has its right to self-defence, it can only do so and should only do so within international law, abiding by international law and international humanitarian law. And Singapore has articulated our position that Israel's actions have gone too far, and we will work with the international community to find sustainable solutions. Most important is the opening up of the pathways for major aid to go in. We had a ceasefire. We had human aid coming in, but it was stopped, as we all know, and we do hope that's the first thing that will happen next. We continue to engage our partners out there in the Middle East. (Since Oct 7, 2023), we have delivered almost eight tranches of major aid. What more can we do? We can continue to work with like-minded partners there, to work with both parties to find that solution that we want. But it's going to be very challenging, and I appeal to Singaporeans to understand that is not easy. It's not easy, and we need to continue to have the space to work with both parties, and that's why we continue to work with Israel. Minister for Foreign Affairs (Vivian Balakrishnan) visited Israel, had direct communications, articulated our position. Because we continue to have that channel of communication, we were able, and one of the very few air forces that were given the clearance to do the air drop of humanitarian assistance. Not many air forces who had sought permission to do so was able to do so. It is because we are seen as a trusted partner. Q. Can you share more about Singapore's role as a small democratic society? How do these international countries view us when it comes to a global crisis where cooperation is needed? A. We are a little red dot. Some have always said that we punch above our weight. I want to be more humble and modest to say that we do what we can to be a responsible member of the international community in foreign affairs. One of the key things that we hold on to is that we are a friend to all, an enemy to none. As far as we can two, being a friend, we must be there to help our friends who are in need. Three, we must always be relevant to others. I go to many international meetings and they recognise Singapore for many of our contributions. We do financial contributions, but not much. We do what we can. But it is more the Singapore that values the rule of law, the Singapore that's able to galvanise likeminded countries to articulate the important principles of international, rule of law, respect for sovereignty - these are very important things that Singapore brings to the table, and these are the things that people appreciate us for. And when there's an international crisis, we will step forward. We will do what we can, tell them that we are prepared to provide whatever assistance that's needed. So that's why we went to Egypt in November 2023, just a month after Oct 7, to discuss with our Egyptian counterparts what can be done. Q. Why was it important to build interpersonal relationships, whether it's with our neighbours Brunei, Malaysia, Indonesia, and how does it translate to Singapore on the bigger level? A: One of the things that I believe in is sincerity and honesty and genuineness in establishing and maintaining relationships - not just personal relationships, but even at the international level. Even as diplomats, we need to show everyone out there that we are sincere; we are a friend; we are a trusted partner. I started visiting Brunei sometime in 2012 when I was in MINDEF (Ministry of Defence) at that time for Hari Raya visits, and we realised that's part and parcel of the region - the Malay-ness, you know, where we build a sense of familiar ties with each other? And what better way than Hari Raya? In 2013, I took over visiting and leading the delegation. I would spend the first day at home in Singapore, and the next day I would have flown to Brunei and I would spend four, five days there. And my relatives would see pictures in the media of me meeting many, many friends in Brunei, and they say: 'Why are you not visiting us yet?' So that's part and parcel of work at the same time. By the time I reached my second year, third year, I didn't see it as work anymore. I see it as me going to visit friends. And who are the friends I visit? I don't just visit ministers. I visit former ministers. I visit Brunei elders who were there way before I was there to pay respects to them, to learn from them about the relationship between Brunei and Singapore. And I also visited potential leaders - the permanent secretaries, the deputy secretaries - who today are ministers. So we literally spent a lot of time together, and that allows us to continue to maintain that strong relationship and find new ways of collaboration. Q. Many maybe had a sense that you would be the next Minister-in-charge for Muslim Affairs. How do you make sense to Singaporeans about the relevance of that role today? And do you see that it will continue to be relevant moving forward? A. I think as a Malay, I fully appreciate that role, and I think it reflects the government's commitment to support the Malay community and to provide the Malay community with someone at the highest level in Cabinet overseeing the development of the Malay community. The position of the Minister-in-charge of Muslim Affairs was instituted in 1977 to really bring up the stature of the importance of the Malay community for the holistic development of Singapore. That's where the minister has direct access to the Prime Minister and the Cabinet to articulate issues that are relevant to the Muslim community, issues that must be addressed, as well as how we can continue to support the community to move forward. I think over many years, you've seen the success of the various institutions. You see MUIS, for example, you see how our Islamic leadership has reached a level that's been recognised by many Islamic countries. Q. After your retirement from politics, what is next for you? A. After 25 years, people ask me, what's my greatest regret? My greatest regret was I was never there for my family. I spent very little time with them. My daughter was six; my son was three when I started politics. And today, my daughter is almost 30, and she just got married, and my son is 27 and I didn't get a chance to see them grow. I didn't get a chance to see my parents in their later years. So those are moments that I would like to spend time reflecting a little bit more first before I step into the next phase of my life. Spend a bit more time - I should say, spend a lot more time with my wife now, and I think taking a little bit of a break and then see where I can contribute more. I think I won't run away from contributing in the social service sector. Q. What is your advice to young Singaporeans considering a role in the public service? A. Answer the call if you are asked to step forward. Don't be afraid, but go inside it with an open mind and an open heart. Go inside it with a partnership with whoever that's around you, your significant others. Go into it with a sincerity, the sincerity that you really do want to make a difference in the lives of the people who will come across in the things that you see that are not right.
Telegraph
13-04-2025
- Politics
- Telegraph
Lib Dems are ‘extremists' who want to impose veganism, say Tories
The Liberal Democrats are 'extremists' who want to impose veganism across Britain, a Tory frontbencher has claimed. Andrew Griffith, the shadow business secretary, made the remark as he urged voters to back the Conservatives at the local elections next month. The Tories are defending the majority of county council seats up for election on May 1. Kemi Badenoch, the party's leader, warned they face an 'extremely difficult' time at the ballot box because they were last contested at the peak of their post-Covid popularity in 2021. Mr Griffith was asked by the BBC's Sunday with Laura Kuenssberg about Andy Street, the former Tory mayor of the West Midlands, urging his party not to work with Reform UK at any level. 'Well, if people want a Conservative-led council – and I think they should because they run services better, rates are lower – then they've got to vote Conservative,' he said. 'It's always been, after elections, for local councillors themselves to sort how they're going to run the local council. That won't be needed if people vote Conservative, but if that is needed then historically people have done deals on a local council level with all sorts of groups. 'I think the Liberal Democrats are quite extremist. Whenever they get into council, they want four-day weeks and veganism. 'No one should take that off the table, because those are decisions for local councillors to decide. It shouldn't get there, because people can vote Conservative.' Asked whether he was suggesting all Lib Dems were vegan, he replied: 'Too many.' Oxfordshire county council, which is ruled by a Lib Dem-Green coalition, has served vegan-only food at its meetings since 2023. The council came under fire after launching a campaign website which cited advice from the Vegan Society and told residents why they should adopt a plant-based diet. A Lib Dem source said: 'These comments are frankly a bit weird. Andrew Griffith was Treasury minister under Liz Truss when the Tories crashed the economy and sent mortgages spiralling. 'Bizarre comments' 'Voters haven't forgiven the Conservative Party for all the damage they did. Bizarre comments like this won't do anything to change that.' Sarah Dyke, the Lib Dem MP for Glastonbury and Somerton, is among senior figures in the party to have backed calls for a reduction in meat consumption. South Cambridgeshire district council, which is run by the Lib Dems, started a trial four-day week scheme two years ago. Employees still receive full pay to do 100 per cent of their work in 80 per cent of their hours. They are urged to use their extra non-working day to 'recover and re-energise'. The Lib Dems have also come under attack for their stance on the Gaza conflict, having called for a ceasefire weeks after the Oct 7 massacre in 2023. Israel was blamed directly for Oct 7 during a fringe event at the party's conference last year when a speaker claimed that Israel's 'far-Right dogma' had 'led directly' to the slaughter.
