Latest news with #foreignspending
Yahoo
7 days ago
- Politics
- Yahoo
First Circuit rules Maine ban on foreign government election spending likely unconstitutional
A campaign sign on Portland's Eastern Promenade. Nov. 3, 2023. (Jim Neuger/Maine Morning Star) The U.S. Court of Appeals for the First Circuit ruled on Friday that a law passed by Maine voters in 2023 prohibiting foreign government spending in elections is likely unconstitutional. The ruling underscores that the landmark U.S. Supreme Court decision on corporate contributions continues to control the campaign finance landscape, those on both sides of the issue said. The decision, which affirmed a district court's temporary stay on the state from enforcing the law, is not the final word, as it will next return to the lower court. The law prevents foreign government-influenced entities, defined as companies with 5% or more foreign government ownership, from donating to state and local ballot measures. It also requires media outlets to establish policies to stop campaign ads from those prohibited entities. Voters overwhelmingly approved the law in 2023 with 86% voting in support. 'We really wanted to deal with the underlying root problem here of the inability of citizens to control their own elections,' said Maine Sen. Rick Bennett, chair of the ballot question committee and independent candidate for governor. 'Now with this ruling… it means that foreign-government controlled entities, even with 100% foreign government control, can still spend millions of dollars in Maine elections.' Meanwhile, Charles Miller, a senior attorney at the Institute for Free Speech who filed an amicus brief in support of the plaintiffs, argued the decision sends a message that states can't put vague parameters on free speech. Utilities, media groups sue state over foreign electioneering ban 'I think that we citizens have to all be on high alert for clever ways that politicians are going to use to try to limit our speech rights, and we have to fight against it, even when the target of those laws at the time are things that we don't want to hear,' Miller said. This law was one of two campaign finance changes Maine voters passed by referendum in recent years. In 2024, voters also overwhelmingly approved a law to place limits on donations to political action committees that independently spend money to try to support or defeat candidates — teeing up a path to get the Supreme Court to reevaluate its 2010 decision Citizens United v. Federal Election Commission that enabled corporations and other outside groups to spend unlimited money on elections. A decision on the lawsuit filed against the 2024 referendum is expected on Tuesday, before which the state agreed not to enforce that law. The plaintiffs believe Friday's ruling could have consequences for that case, too. The Office of the Maine Attorney General, which is defending the law on behalf of the state, does not comment on pending litigation, Director of Public Affairs Danna Hayes said. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Three different lawsuits arguing the ban on foreign government spending is unconstitutional were consolidated in the appeal. The utility companies Central Maine Power and Versant Power each filed a lawsuit. Two media groups, the Maine Association of Broadcasters and the Maine Press Association, jointly filed another. The majority opinion issued on Friday, written by Judge Lara Montecalvo, concluded that the law is too broad in its definition of foreign government because it silences U.S. corporations that have their own First Amendment rights. Central Maine Power is owned by the Spanish multinational company Iberdrola, while Versant's parent company is owned by the city of Calgary in Canada. The companies' filings outlined concern that the law prevents them from speaking on matters of concern to their company. As the decision notes, this referendum was passed amid attempts to prevent the construction of an energy transmission line to Canada, which CMP and Versant would benefit from. The companies spent millions to oppose that referendum as well as another in 2023 that would have replaced the utilities with a consumer-owned utility. While the court found that Maine has a 'compelling interest' to limit foreign government influence in its elections, it ruled that the state has no such interest in trying to limit the 'appearance of' foreign influence, such as with CMP and Versant. The appeals court specifically highlighted a challenge it sees with the law's practical implementation, given the prevalence of corporate ownership of publicly traded companies these days, which Miller sees as noteworthy. 'A corporation might not even know when it crosses that 5% threshold because of the way that stocks are traded routinely on a daily basis,' Miller said. 'They could enter into and out of that threshold without even knowing it.' The appeals court agreed, noting further that, 'as a consequence, U.S. corporations with First Amendment protections will likely choose not to speak at all rather than risk criminal penalties,' the court wrote. Bennett noted that the percentage that constitutes foreign influence will continue to be litigated, adding, 'If we have to consider adjusting the law because of the ultimate court decision, whenever that comes months from now, then I think the Legislature could consider that.' However, he also noted that there are other parts of the law that aren't being challenged, one being a requirement that Maine's congressional delegation put forth an 'anti-corruption' resolution in Congress that could undo Citizens United. The opinion, supported by all three of the judges on the First Circuit panel, also concluded that the 5% threshold looks like 'an end-run around Citizens United, aimed at silencing a large swath of corporations merely because they are corporations.' This is the crux of the issue at hand and broader attempts to place stricter regulations on spending in elections, those on both sides agree. 'Fundamentally, the problem goes back to this notion that the courts are stuck with this precedent saying that money is speech and corporations are people,' Bennett said. Citizens United overturned century-old campaign finance restrictions by allowing corporations and unions to spend unlimited funds on elections. Fundamentally, the problem goes back to this notion that the courts are stuck with this precedent saying that money is speech and corporations are people. – Maine Sen. Rick Bennett 'Really the most critical point overarching all of this is the court's recognition that this case is controlled by Citizens United,' Miller said. Miller believes the circuit court's point on that decision in particular could also have consequences for the lawsuit against the 2024 referendum, in which Miller is representing the plaintiffs. Three months after Citizens United, in v. FEC, the Washington, D.C. Circuit Court upheld that contributions to PACs cannot be regulated, either, so long as the PAC is independent from the campaign it is supporting. That decision essentially created the 'super PAC,' which can receive unlimited contributions but can't contribute directly to candidates. Other lower federal and state courts followed suit and the ruling was never reviewed by the Supreme Court. Those behind Maine's 2024 referendum to place limits on donations to PACs, including legal scholar Larry Lessig, argue that the reasoning behind SpeechNow is incorrect. They say large contributions to PACs inevitably create a risk of quid pro quo corruption, given that donors and candidates have the opportunity to collaborate even if a PAC is independent. Supporters therefore expected, and planned, for the referendum's legality to be challenged, presenting an eventual path to the Supreme Court. Lessig previously told Maine Morning Star he specifically chose to introduce the referendum in the jurisdiction of the First Circuit Court because it hasn't ruled on whether Super PACs are constitutionally required — meaning there is no precedent. 'They came to Maine to do this because they thought the First Circuit was their best chance to get a court to sort of try to sidestep or ignore Citizens United, and this opinion indicates that they have no appetite to do so,' Miller said. Editor's Note: The Maine Press Association, which filed one of the lawsuits, represents about 50 newspapers and digital news outlets in the state, including Maine Morning Star. 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Yahoo
07-07-2025
- Entertainment
- Yahoo
Shanghai Summer 2025 opens with global invitation
SHANGHAI, July 7, 2025 /PRNewswire/ -- A news report from The 2025 Shanghai Summer International Consumption Season — or simply Shanghai Summer — opened on July 4, bringing citywide experiences to international and local audiences alike. Running through October, the annual event celebrates the energy of summer in Shanghai with a dynamic mix of culture, travel, sports and entertainment. The inaugural edition of Shanghai Summer last year proved a hit — seeing a 42.2 percent year-on-year increase in international visitors and a 68.2 percent jump in foreign bank card spending. This year, the momentum continues: In the first five months alone, the city welcomed over 3.4 million inbound travelers, up 37.7 percent from the same period last year. Sales of tax-free goods reached 1.4 billion yuan ($195.72 million), representing a whopping 84.9 percent year-on-year rise. This year's Shanghai Summer is focusing on making the city more welcoming and memorable for global guests. Activities are being tailored to different regions — including Japan, South Korea, Southeast Asia, Europe and North America — to reflect diverse interests and travel habits. From cultural festivals and family adventures to sports and live music, the season aims to capture every shade of summer. Flagship events will be rolled out in two phases. The months of July and August center on family vacations and summer holidays, while September and October shift towards cultural programs and major international sporting events. A lineup of 10 marquee events will headline the season, including: LEGO World Play Day Shanghai Disney Resort Summer-themed Celebrations Shanghai Summer International Anime Month Shanghai Tourism Festival Vocation Summer Shanghai MISA Music Festival Shanghai International Light Festival 2025 World Rowing Championships Rolex Shanghai Masters SS2026 Shanghai Fashion Week FISE World Series Shanghai In addition to these large-scale events, the city is introducing a range of customized experiences based on what international travelers care most about — from pop culture and fitness to traditional Chinese aesthetics and urban discoveries. These include: Pop Mart's Summer of Trendy Toys event 2025 Lululemon Summer Sweat Games Disney's summer celebration series Yuyuan Garden Mall's Summer Garden Music Concerts West Bund (WB Central) Summer International Cultural Carnival Limited-edition products from Shanghai time-honored brands To support these experiences, Shanghai is rolling out 15 new themed service packages to make inbound travel smoother and more convenient — especially under the 240-hour visa-free transit policy. These include discounted flights from China Eastern Airlines, car ride services from Didi, hotel offers from Jin Jiang International and Marriott, itinerary planning via the HiChina app, English maps from Amap, multilingual food recommendations on Dianping and the multi-use Shanghai Pass. Two major upgrades will enhance the visitor experience: A more accessible tax refund system for departing travelers and the Easy Go one-stop digital platform — which streamlines services for food, lodging, transport, shopping and entertainment. For more information: View original content to download multimedia: SOURCE 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
Associated Press
07-07-2025
- Business
- Associated Press
Shanghai Summer 2025 opens with global invitation
SHANGHAI, July 7, 2025 /PRNewswire/ -- A news report from The 2025 Shanghai Summer International Consumption Season — or simply Shanghai Summer — opened on July 4, bringing citywide experiences to international and local audiences alike. Running through October, the annual event celebrates the energy of summer in Shanghai with a dynamic mix of culture, travel, sports and entertainment. The inaugural edition of Shanghai Summer last year proved a hit — seeing a 42.2 percent year-on-year increase in international visitors and a 68.2 percent jump in foreign bank card spending. This year, the momentum continues: In the first five months alone, the city welcomed over 3.4 million inbound travelers, up 37.7 percent from the same period last year. Sales of tax-free goods reached 1.4 billion yuan ($195.72 million), representing a whopping 84.9 percent year-on-year rise. This year's Shanghai Summer is focusing on making the city more welcoming and memorable for global guests. Activities are being tailored to different regions — including Japan, South Korea, Southeast Asia, Europe and North America — to reflect diverse interests and travel habits. From cultural festivals and family adventures to sports and live music, the season aims to capture every shade of summer. Flagship events will be rolled out in two phases. The months of July and August center on family vacations and summer holidays, while September and October shift towards cultural programs and major international sporting events. A lineup of 10 marquee events will headline the season, including: In addition to these large-scale events, the city is introducing a range of customized experiences based on what international travelers care most about — from pop culture and fitness to traditional Chinese aesthetics and urban discoveries. These include: To support these experiences, Shanghai is rolling out 15 new themed service packages to make inbound travel smoother and more convenient — especially under the 240-hour visa-free transit policy. These include discounted flights from China Eastern Airlines, car ride services from Didi, hotel offers from Jin Jiang International and Marriott, itinerary planning via the HiChina app, English maps from Amap, multilingual food recommendations on Dianping and the multi-use Shanghai Pass. Two major upgrades will enhance the visitor experience: A more accessible tax refund system for departing travelers and the Easy Go one-stop digital platform — which streamlines services for food, lodging, transport, shopping and entertainment. For more information: View original content to download multimedia: SOURCE
Telegraph
23-05-2025
- Business
- Telegraph
The best bank cards to use abroad
Before going abroad, it's important to make sure you have the best payment card with you, or your holiday spending could quickly start racking up hefty fees. Some providers issue fees of around 3pc added to all foreign purchases, and ATM withdrawals can also attract instant fees and interest. Fortunately, a range of debit and credit cards offer fee-free spending and cash withdrawals abroad. Some even offer additional perks including cashback, meaning banks will pay you to spend rather than the other way around. Rachel Springall, of financial analyst Moneyfacts, said: 'Holidaymakers looking to make their cash go further should apply for a credit card designed for use abroad, or open a current account with a debit card which does not charge for making withdrawals.' Here, Telegraph Money takes a closer look at the best bank cards to take on your next holiday. Top travel credit cards The key to finding a good travel credit card is making sure it doesn't charge foreign spending fees. You may prefer to use a credit card while abroad due to the Section 75 protection they offer. If something goes wrong, you can reclaim the value of purchases between £100 and £30,000 from your credit card provider. 1. Barclaycard Rewards Card Andrew Hagger, of personal finance website MoneyComms, said: 'Unlike most credit cards, Barclaycard Rewards doesn't charge any fees or interest charges on purchases overseas or cash withdrawals, provided you pay your statement in full by the due date.' As a small added bonus, you also get 0.25pc cashback on your spending. Applicants for this card must be over 21, and have a minimum annual income of £20,000. It has a representative APR of 28.9pc based on a £1,200 credit limit. 2. Halifax Clarity credit card. Halifax's Clarity card is another favourite with holidaymakers, as there is no exchange rate mark-up for purchases or ATM transactions. That said, you will pay up to 28.94pc interest on any cash withdrawals. This begins the moment they are made. Mr Hagger added: 'On a £100 ATM withdrawal, this will work out at around £2.30 over 30 days.' Top travel debit cards There are several debit card options to use abroad too; the best ones will also let you spend and withdraw cash fee-free. 1. Chase current account The debit card from Chase is fee-free for spending at home or abroad, and pays you 1pc cashback on most purchases, even when you're away. This means that for many, it's likely to be the best pick for which card to use abroad. Chase lets you take out up to £500 per day, and £1,500 per month. 2. Monzo current account Spending and cash withdrawals abroad are fee-free with Monzo, but there may be limits to the amount of cash you can withdraw before fees kick in. If Monzo's free account is not your main bank: £400 fee-free every 30 days in the UK and EEA, 3pc afterwards; £200 fee-free every 30 days outside EEA, 3pc afterwards If Monzo's free account is your main bank: Unlimited fee-free withdrawals in UK and EEA; £200 fee-free every 30 days outside EEA, 3pc afterwards Monzo Plus (comes with monthly fees): Unlimited fee-free withdrawals in UK and EEA; £400 fee-free every 30 days outside EEA, 3pc afterwards Monzo Premium, Perks and Max (comes with monthly fees): Unlimited fee-free withdrawals in UK and EEA; £600 fee-free every 30 days outside EEA, 3pc afterwards. 3. Starling current account Starling is another popular app-only bank. Again, no fees are charged on spending or cash withdrawals when you're abroad – but ATM withdrawals are capped at £300 a day. 4. Currensea If you don't want to take out a new credit card or open a new bank account, Currensea might be a good option. Mr Hagger says: 'Currensea provides you with a Mastercard that you link to your existing current account. The beauty is, you don't have to worry about pre-loading with euros or dollars before you set off.' According to its website you cannot yet link up with Co-op Bank, Metro Bank, Danske Bank or the Bank of Ireland. There are three price plans to choose from. The essential package has no annual fee, but charges 0.5pc foreign exchange charge on both purchases and ATM withdrawals. There are no additional charges for the first £500 cash withdrawals each month, but anything above this monthly limit attracts a 2pc fee. The premium plan is £25 annually and the elite plan costs £120 per year. Mr Hagger said these might suit frequent travellers as they come with lower foreign exchange rates and additional features. Are credit or debit cards a better option to use abroad? Both credit and debit cars are viable options for using abroad, but there are pros and cons for each. Credit cards are useful for deposits when preparing to travel, for example if you are renting a car. If you're travelling for business, a credit card may also be the better option thanks to the increased protection and insurance, longer payment terms and the opportunity to earn points. For all travellers, credit cards offer more robust protection against fraud and scams. However, if you have a debit card with one of the challenger banks, such as Monzo or Starling, you can spend fee-free. In this case, a debit card may be the better option but it's worht checking the terms before you jet off. How much could a travel bank card save you? Depending on how long your trip is, foreign transaction fees could potentially add hundreds of pounds to your holiday spending. There are three charges that could be added to your foreign transactions by your credit or debit card provider: non-sterling transaction fee ATM fee spending charge. Some might charge just one of these, while others will charge all three. For credit or debit card purchases – such as buying a meal at a restaurant – non-sterling transaction fees are usually around 3pc. This may be charged in addition to a spending charge, which is usually between 50p and £1.50. Paying £100 for a meal while you're away, for example, could therefore cost you up to £104.50 once the additional costs are added. These fees can seriously add up, especially when making smaller purchases. If you make five transactions in a day, you could be looking at £7.50 in spending charges alone, plus the non-sterling transaction fee. ATM fees vary between providers, but you could end up paying a cash advance interest – and in some cases this is charged every day until you pay it off. A non-sterling cash fee is usually around 3pc, with a minimum charge of £3. This means even a small cash withdrawal of £20 could cost £23 plus interest. The good news is, there are lots of ways to avoid these charges altogether – you just need to have the right card for the job. FAQs Are there benefits to using a prepaid travel card? Prepaid cards can work well if you want to stick to a strict budget on your trip, as you can load up the card before you go – either in sterling or your chosen currency – and then it's ready to spend while you're away. Some popular options include: Post Office Travel Money Card. It allows you to carry up to 22 currencies, and can be managed via an app should you want to move your cash around. It also syncs up with Apple Pay and Google Pay if you want to make transactions via your phone or smartwatch. You'll use the Post Office exchange rate and there are no spending charges. FairFX multi-currency card is another good alternative, as there is no exchange rate mark up for the 21 currencies available to load on the card. There is, however, a £1 fee on all ATM withdrawals. Another fee to watch out for is inactivity fees. This card charges £2 per month on any remaining balance if it's left loaded after its expiry date. EasyFX card doesn't charge for ATM withdrawals or to load your card. However, if you lose it and need a replacement there is a £6 charge, and it will also take £2 per month if the card hasn't been used for more than 12 months. Always spend in the local currency If you're given the option of paying in sterling, as opposed to the local currency, whether you're in a shop, restaurant or other outlet during your holiday, you should always say no. Opting to pay in sterling means you're giving the card payment provider the chance to decide the exchange rate, via a process known as 'dynamic currency conversion'. The rate is unlikely to be in your favour. Matt Sanders, of Money, said: 'In most cases you will get a better currency rate from your card provider, so if you are presented with the option of paying in pounds, opt against it, as it may cost you more.' Is it worth taking any cash with you? Wind the clock back 10 or 20 years ago, and hardly anyone would be considering regularly using your debit or credit card abroad – instead, travel wallets would be stuffed with foreign currency, and even a few traveller's cheques. Cash use is in decline in the majority of holiday destinations, but is it still worth taking at least a little cash with you? This will largely depend on the destination; you probably won't need as much cash if you're visiting Sweden than, say, a remote town that is yet to catch up with the contactless revolution. 'There's not a great need to carry a large quantity these days,' said Mr Hagger, 'although some people like to carry a little for tipping taxi drivers, room cleaners or in bars or restaurants.' What happens if my card is lost or stolen while travelling? It can be stressful if your card is lost while travelling, but you have options. The first thing to do is to tell your bank that it has been lost or stolen, to ensure no one else can access your money. Emergency phone lines are generally open 24 hours a day, seven days a week. But you may be charged for calls made outside of the UK. Many banks offer access to emergency cash while you're abroad. Barclays promise that funds will reach you within three days, for instance. It can be a good idea to tell your bank where you are going before your travels to prevent normal activity alerting fraud monitoring systems as suspicious.
CNA
15-05-2025
- Business
- CNA
US set to lose US$12.5 billion in foreign tourism in 2025: Industry
PARIS: The United States is on track to lose some US$12.5 billion in revenue from foreign tourists this year, a tourism industry group said Thursday (May 15), as the Trump administration has led a crackdown in immigrants. The study by the World Travel and Tourism Council (WTTC) and Oxford Economics found that the United States was the only country set to see a drop in spending from foreign tourists this year. The drop to US$181 billion in spending by foreign tourists will put it 22.5 percent from the peak set a decade ago. The WTTC, made up of leading travel firms, said this "represents a direct blow to the US economy overall, impacting communities, jobs, and businesses from coast to coast". WTTC president Julia Simpson said that government support was needed to ensure tourism growth. "While other nations are rolling out the welcome mat, the US government is putting up the 'closed' sign," she said in a statement. With President Donald Trump leading a crackdown on illegal immigration, making politically charged comments about other nations, and slapping tariffs on foreign goods, there have been numerous efforts by consumers in other countries to boycott US products and calls to skip travel to the United States. Visitors 'fearful' Simpson told the New York Times that some foreign travellers were afraid to travel to the United States. "There are also concerns over visas, whether they've got the right visa or might accidentally get arrested, which has made people quite fearful," she was quoted as saying. The report highlighted US Department of Commerce data showing sharp drops in March 2020 arrivals from key countries, including nearly 15 per cent drops from Britain and South Korea. The drops were over 20 per cent from Germany, Ireland and Spain. The report also noted other data showing a 20 per cent drop in early summer bookings from Canada. "This is more than a dip. It's a wake-up call," said the WTTC. "The US is welcoming fewer visitors from its neighbours and countries further afield, which is a clear indicator that the global appeal of the US is slipping." Meanwhile, the report found that US citizens are travelling abroad more, further hurting the US travel sector. In 2024, the tourism sector contributed US$2.6 trillion to the US economy and supported more than 20 million jobs. It also contributed more than US$585 billion in tax revenues, or almost 7 per cent of the total.
