MARCH 21, 2018 / 1:20 PM / UPDATED 2 HOURS AGO
South Korea's Moon says three-way summit with North Korea, U.S. possible
Hyonhee Shin, Christine Kim
SEOUL (Reuters) - South Korean President Moon Jae-in said on Wednesday a three-way summit with North Korea and the United States is possible and that talks should aim for an end to the nuclear threat on the Korean peninsula.
Moon is planning a meeting with North Korean leader Kim Jong Un next month after a flurry of diplomatic activity in Asia, Europe and the United States. U.S. President Donald Trump has also said he would meet Kim by the end of May.
“A North Korea-U.S. summit would be a historic event in itself following an inter-Korean summit,” Moon said at the presidential Blue House in Seoul after a preparatory meeting for the inter-Korean summit.
“Depending on the location, it could be even more dramatic. And depending on progress, it may lead to a three-way summit between the South, North and the United States,” he said.
Seoul officials are considering the border truce village of Panmunjom, where Moon and Kim are set for a one-day meeting, as the venue for talks between not only Kim and Moon but also a possible three-way meeting.
A Blue House official, speaking on condition of anonymity, said Moon did not specifically refer to Panmunjom or that a three-way summit had been discussed with Washington before the president spoke.
The rush of recent diplomatic contacts began in the lead-up to the Winter Olympics in South Korea last month and helped ease tensions on the Korean peninsula caused by North Korea’s pursuit of its nuclear and missile programs in defiance of United Nations Security Council sanctions.
South Korea wants to hold high-level talks with North Korea on March 29 to discuss a date and agenda for the inter-Korean summit and make a formal request to the North on Thursday, Moon’s presidential office said.
North and South Korean officials should be able to agree on when the summit between Moon and Kim will take place once the officials from both sides meet this month, the Blue House official said.
FILE PHOTO: South Korean President Moon Jae-in delivers a speech during a ceremony celebrating the 99th anniversary of the March First Independence Movement against Japanese colonial rule, at Seodaemun Prison History Hall in Seoul, South Korea, March 1, 2018. REUTERS/Kim Hong-Ji
‘CLEAR GOAL’
Moon said the series of summits should aim for a “complete end” to the nuclear and peace issues on the Korean peninsula.
He said he has a “clear goal and vision”, which is for the establishment of a lasting peace to replace the ceasefire signed at the end of the 1950-53 Korean war. It also includes the normalization of North Korea-U.S. relations, the development of inter-Korean ties, and economic cooperation involving Pyongyang and Washington, he said.
However, the United States must also add its guarantee in order for peace to come about, Moon said.
“Whether the two Koreas live together or separately, we have to make it in a way that they prosper together and in peace, without interfering or causing damage to each other,” Moon said.
The Blue House official said this could mean stopping propaganda broadcasts at the border that are commonly blasted from both sides over loudspeakers. The official could not say whether “interference” also referred to criticism over widely recognized human rights violations in North Korea.
South Korea and the United States will resume joint military drills next month, although the exercises are expected to overlap with the summit between the two Koreas.
Seoul and Washington delayed the annual drills until after the Winter Olympics, helping to foster conditions for a restart of such talks.
North Korea regularly denounces the drills as preparation for war but a South Korean special envoy has said Kim understood that the allies must continue their “routine” exercises. That exchange has not been confirmed.
The North’s official KCNA news agency said on Wednesday a “dramatic atmosphere for reconciliation” had been created in cross-border ties and there had also been a sign of change in North Korea-U.S. relations.
That was “thanks to the proactive measure and peace-loving proposal” made by Pyongyang, not Trump’s campaign to put maximum pressure on the country, KCNA said in a commentary.
The Blue House official also said earlier on Wednesday South Korea was in discussions with China and Japan for a three-way summit in Tokyo in early May. The three countries have not held such a meeting since November 2015, with relations soured by historical and territorial tensions.
Reporting by Hyonhee Shin and Christine Kim; Editing by Paul Tait
Wednesday, March 21, 2018
China Allows Foreigners to Enter $27 Trillion Payments Market - Bloomberg
China Allows Foreigners to Enter $27 Trillion Payments Market
Bloomberg News
March 21, 2018, 8:28 PM GMT+11 Updated on March 21, 2018, 8:50 PM GMT+11
Foreign companies can start applying for licenses, PBOC says
Will need to meet China regulations, including local servers
Ant Financial Services Group's Alipay payment system. Photographer: Qilai Shen/Bloomberg
China will permit foreign companies to access its $27 trillion payments market, further opening up the world’s second-largest economy.
Foreign players can start applying for payment licenses and will be treated the same as local firms, the People’s Bank of China said in a statement on Wednesday. Applicants must set up local units, establish payment infrastructure -- including disaster recovery systems -- and store client information domestically, the central bank said.
Premier Li Keqiang on Tuesday promised to protect the intellectual property of foreigners investing in its economy, as China seeks to avoid a trade war with the U.S. Any entrants to the Chinese market -- apart from meeting stiff local regulations -- will also have to compete with the more than 260 firms that have received payment licenses including Ant Financial Services Group’s Alipay and Tencent Holdings’s WeChat Pay.
“The domestic market is quite saturated with very strong domestic players, and it is relatively hard for foreign companies to get a piece of the pie,” said Iris Pang, a Hong Kong-based economist at ING Groep NV. “But there is a chance for them to compete in the cross-border payment market.”
Chinese residents are increasingly fond of shopping on overseas e-commerce platforms, which tend to prefer local payment companies, Pang said.
Fair Environment
Allowing foreign firms to enter the payment market with defined regulations helps boost innovation, creates a fair environment for competition, and improves the services of payment providers, the central bank said in the statement.
Some major Chinese players have expanded overseas and offered services to global users, it added, without naming any company. China’s payment firms processed 169 trillion yuan ($27 trillion) of transactions in 2017, a nine-fold surge from 2013, according to the central bank.
With this access to the payment sector, “China fulfilled its promise to further open up the financial sector and, at the same time, it is very confident about the competitiveness of its payment companies,” said Xia Le, chief Asia economist at Banco Bilbao Vizcaya Argentaria SA in Hong Kong.
“Banking is the real sector that needs to be further opened up,” he said. “That requires not only lift of policy barriers but also clearing of invisible barriers.”
— With assistance by Jun Luo, Miao Han, and Xiaoqing Pi
Bloomberg News
March 21, 2018, 8:28 PM GMT+11 Updated on March 21, 2018, 8:50 PM GMT+11
Foreign companies can start applying for licenses, PBOC says
Will need to meet China regulations, including local servers
Ant Financial Services Group's Alipay payment system. Photographer: Qilai Shen/Bloomberg
China will permit foreign companies to access its $27 trillion payments market, further opening up the world’s second-largest economy.
Foreign players can start applying for payment licenses and will be treated the same as local firms, the People’s Bank of China said in a statement on Wednesday. Applicants must set up local units, establish payment infrastructure -- including disaster recovery systems -- and store client information domestically, the central bank said.
Premier Li Keqiang on Tuesday promised to protect the intellectual property of foreigners investing in its economy, as China seeks to avoid a trade war with the U.S. Any entrants to the Chinese market -- apart from meeting stiff local regulations -- will also have to compete with the more than 260 firms that have received payment licenses including Ant Financial Services Group’s Alipay and Tencent Holdings’s WeChat Pay.
“The domestic market is quite saturated with very strong domestic players, and it is relatively hard for foreign companies to get a piece of the pie,” said Iris Pang, a Hong Kong-based economist at ING Groep NV. “But there is a chance for them to compete in the cross-border payment market.”
Chinese residents are increasingly fond of shopping on overseas e-commerce platforms, which tend to prefer local payment companies, Pang said.
Fair Environment
Allowing foreign firms to enter the payment market with defined regulations helps boost innovation, creates a fair environment for competition, and improves the services of payment providers, the central bank said in the statement.
Some major Chinese players have expanded overseas and offered services to global users, it added, without naming any company. China’s payment firms processed 169 trillion yuan ($27 trillion) of transactions in 2017, a nine-fold surge from 2013, according to the central bank.
With this access to the payment sector, “China fulfilled its promise to further open up the financial sector and, at the same time, it is very confident about the competitiveness of its payment companies,” said Xia Le, chief Asia economist at Banco Bilbao Vizcaya Argentaria SA in Hong Kong.
“Banking is the real sector that needs to be further opened up,” he said. “That requires not only lift of policy barriers but also clearing of invisible barriers.”
— With assistance by Jun Luo, Miao Han, and Xiaoqing Pi
Biden says he would have 'beat the hell out' of Trump in high school for disrespecting women - ABC News
Biden says he would have 'beat the hell out' of Trump in high school for disrespecting women
By KARMA ALLEN Mar 21, 2018, 5:22 AM ET
Former Vice President Joe Biden took fresh jabs at President Donald Trump on Tuesday while speaking at an anti-sexual assault rally, telling students at the University of Miami that he probably would have "beat the hell out" of Trump if they'd attended school together.
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"A guy who ended up becoming our national leader said, 'I can grab a woman anywhere and she likes it,'" Biden said. "They asked me if I’d like to debate this gentleman, and I said 'no.' I said, 'If we were in high school, I’d take him behind the gym and beat the hell out of him.'"
"I've been in a lot of locker rooms my whole life," Biden continued. "I'm a pretty damn good athlete. Any guy that talked that way was usually the fattest, ugliest S.O.B. in the room."
PHOTO: Conor Lamb, center, the Democratic candidate for the March 13 special election in Pennsylvanias 18th Congressional District, and former Vice President Joe Biden pose for a selfie with a supporter during a rally in Collier, Pa., March 6, 2018.Gene J. Puskar/AP
Conor Lamb, center, the Democratic candidate for the March 13 special election in Pennsylvania's 18th Congressional District, and former Vice President Joe Biden pose for a selfie with a supporter during a rally in Collier, Pa., March 6, 2018.more +
Biden made the comments Tuesday afternoon at the university's "It's on Us" rally, an event aiming to change on-campus culture surrounding sexual assault.
The 47th vice president also commended the country on progress it's made in battling sexual assault, mentioning the success of the #MeToo movement, but he also said there was still a lot of work to be done.
"Sexual assault is about power and the abuse of power more than it is about sex," he said, before going on to tell women in the audience that they should arm themselves with more resources.
View image on TwitterView image on TwitterView image on TwitterView image on Twitter
University of Miami
✔
@univmiami
Today’s @itsonus rally reminded us that we are responsible for creating an environment where sexual assault and gender-based violence is unacceptable. Thank you @joebiden for bringing us your legacy of ending violence against women and empowering our students to take action.
8:11 AM - Mar 21, 2018
"It's not just on the men. It's on you women, as well, on campus," Biden said. "All the studies show that 95 percent of young women who are abused -- the first person they tell is their roommate, their friend, someone on campus. You've got to inform yourself as to what facilities are available, what help is available, not just empathize, hug and say, 'I'm so sorry.' You have an obligation to be informed."
Biden, who also headlined a political fundraiser with Latino leaders during his time in South Florida on Tuesday, ended the speech by encouraging students to participate in the Sexual Assault Awareness Month next month and the Day of Action April 3.
The University of Miami thanked Biden in a statement on Twitter, sharing candid images from his appearance, including some where he's taking selfies with students.
"Today's @itsonus rally reminded us that we are responsible for creating an environment where sexual assault and gender-based violence is unacceptable," the university said in a tweet. "Thank you @joebiden for bringing us your legacy of ending violence against women and empowering our students to take action."
By KARMA ALLEN Mar 21, 2018, 5:22 AM ET
Former Vice President Joe Biden took fresh jabs at President Donald Trump on Tuesday while speaking at an anti-sexual assault rally, telling students at the University of Miami that he probably would have "beat the hell out" of Trump if they'd attended school together.
Interested in Joe Biden?
Add Joe Biden as an interest to stay up to date on the latest Joe Biden news, video, and analysis from ABC News.
Joe Biden Add Interest
"A guy who ended up becoming our national leader said, 'I can grab a woman anywhere and she likes it,'" Biden said. "They asked me if I’d like to debate this gentleman, and I said 'no.' I said, 'If we were in high school, I’d take him behind the gym and beat the hell out of him.'"
"I've been in a lot of locker rooms my whole life," Biden continued. "I'm a pretty damn good athlete. Any guy that talked that way was usually the fattest, ugliest S.O.B. in the room."
PHOTO: Conor Lamb, center, the Democratic candidate for the March 13 special election in Pennsylvanias 18th Congressional District, and former Vice President Joe Biden pose for a selfie with a supporter during a rally in Collier, Pa., March 6, 2018.Gene J. Puskar/AP
Conor Lamb, center, the Democratic candidate for the March 13 special election in Pennsylvania's 18th Congressional District, and former Vice President Joe Biden pose for a selfie with a supporter during a rally in Collier, Pa., March 6, 2018.more +
Biden made the comments Tuesday afternoon at the university's "It's on Us" rally, an event aiming to change on-campus culture surrounding sexual assault.
The 47th vice president also commended the country on progress it's made in battling sexual assault, mentioning the success of the #MeToo movement, but he also said there was still a lot of work to be done.
"Sexual assault is about power and the abuse of power more than it is about sex," he said, before going on to tell women in the audience that they should arm themselves with more resources.
View image on TwitterView image on TwitterView image on TwitterView image on Twitter
University of Miami
✔
@univmiami
Today’s @itsonus rally reminded us that we are responsible for creating an environment where sexual assault and gender-based violence is unacceptable. Thank you @joebiden for bringing us your legacy of ending violence against women and empowering our students to take action.
8:11 AM - Mar 21, 2018
"It's not just on the men. It's on you women, as well, on campus," Biden said. "All the studies show that 95 percent of young women who are abused -- the first person they tell is their roommate, their friend, someone on campus. You've got to inform yourself as to what facilities are available, what help is available, not just empathize, hug and say, 'I'm so sorry.' You have an obligation to be informed."
Biden, who also headlined a political fundraiser with Latino leaders during his time in South Florida on Tuesday, ended the speech by encouraging students to participate in the Sexual Assault Awareness Month next month and the Day of Action April 3.
The University of Miami thanked Biden in a statement on Twitter, sharing candid images from his appearance, including some where he's taking selfies with students.
"Today's @itsonus rally reminded us that we are responsible for creating an environment where sexual assault and gender-based violence is unacceptable," the university said in a tweet. "Thank you @joebiden for bringing us your legacy of ending violence against women and empowering our students to take action."
Poland seeking compensation for World War Two destruction: foreign minister - Reuters
MARCH 21, 2018 / 8:27 PM / UPDATED AN HOUR AGO
Poland seeking compensation for World War Two destruction: foreign minister
Reuters Staff
WARSAW (Reuters) - Poland will this year look into ways of getting compensation for its destruction during World War Two, Foreign Minister Jacek Czaputowicz said on Wednesday.
Polish Foreign Minister Jacek Czaputowicz speaks after meeting with his German counterpart Sigmar Gabriel in Berlin, Germany, January 17, 2018. REUTERS/Fabrizio Bensch
“We will talk about the need to compensate Poles for the losses suffered during World War Two,” he told parliament in a section of a speech focused on Polish-German relations.
“We will seek legal, political and financial ways of (obtaining) due compensation,” he added, as he presented his foreign policy goals for 2018.
Reporting by Marcin Goettig; Editing by Andrew Heavens
Poland seeking compensation for World War Two destruction: foreign minister
Reuters Staff
WARSAW (Reuters) - Poland will this year look into ways of getting compensation for its destruction during World War Two, Foreign Minister Jacek Czaputowicz said on Wednesday.
Polish Foreign Minister Jacek Czaputowicz speaks after meeting with his German counterpart Sigmar Gabriel in Berlin, Germany, January 17, 2018. REUTERS/Fabrizio Bensch
“We will talk about the need to compensate Poles for the losses suffered during World War Two,” he told parliament in a section of a speech focused on Polish-German relations.
“We will seek legal, political and financial ways of (obtaining) due compensation,” he added, as he presented his foreign policy goals for 2018.
Reporting by Marcin Goettig; Editing by Andrew Heavens
Weinstein Company lifts NDAs. Will more victims come forward? - CNN News
Weinstein Company lifts NDAs. Will more victims come forward?
by Brian Stelter @brianstelter
March 20, 2018: 11:59 AM ET
The very first story about Harvey Weinstein's wrongdoing described the nondisclosure agreements that silenced victims and witnesses.
These legal agreements, known as NDAs, were exposed right along with Weinstein's behavior.
Now, more than six months after the first stories broke, the NDAs are being lifted, according to Weinstein's former movie studio.
At the same time The Weinstein Company filed for bankruptcy on Monday night, the studio said that it "expressly releases any confidentiality provision to the extent it has prevented individuals who suffered or witnessed any form of sexual misconduct by Harvey Weinstein from telling their stories."
In other words: The NDAs are no longer in effect.
Content by Breguet
Louis XVIII was clearly an admirer of this horologist
A.-L. Breguet consistently demonstrated his exceptional mastery of time measurement.
"No one should be afraid to speak out or coerced to stay quiet," the company said.
New York Attorney General Eric T. Schneiderman had been pushing for this outcome for several months. His office filed a civil rights lawsuit against the studio last month, partly to provoke change.
Schneiderman said Monday night that the lifting of the NDAs is "a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace."
He said the agreement "will finally enable voices that have for too long been muzzled to be heard."
Some female staffers have already defied the NDAs and given interviews on the record about Weinstein.
Others have spoken only on condition of anonymity because they feared that Weinstein's lawyers would retaliate.
It remains to be seen how many accusers or eyewitnesses will come forward now that the company has publicly lifted the NDAs.
There are now more than 60 accusers who have come forward with allegations of sexual misconduct, including some who have accused Weinstein of rape. Weinstein has sought treatment after the allegations were made public last October, but he has consistently denied all allegations of "non-consensual sex."
Meanwhile, the crippled studio has reached a deal with the private equity firm Lantern Capital Partners. Lantern is looking to acquire Weinstein Co. through the bankruptcy process.
The initial bankruptcy paperwork was filed on Monday night. Other bidders could come forward and try to top Lantern's bid for the Weinstein Co. assets.
by Brian Stelter @brianstelter
March 20, 2018: 11:59 AM ET
The very first story about Harvey Weinstein's wrongdoing described the nondisclosure agreements that silenced victims and witnesses.
These legal agreements, known as NDAs, were exposed right along with Weinstein's behavior.
Now, more than six months after the first stories broke, the NDAs are being lifted, according to Weinstein's former movie studio.
At the same time The Weinstein Company filed for bankruptcy on Monday night, the studio said that it "expressly releases any confidentiality provision to the extent it has prevented individuals who suffered or witnessed any form of sexual misconduct by Harvey Weinstein from telling their stories."
In other words: The NDAs are no longer in effect.
Content by Breguet
Louis XVIII was clearly an admirer of this horologist
A.-L. Breguet consistently demonstrated his exceptional mastery of time measurement.
"No one should be afraid to speak out or coerced to stay quiet," the company said.
New York Attorney General Eric T. Schneiderman had been pushing for this outcome for several months. His office filed a civil rights lawsuit against the studio last month, partly to provoke change.
Schneiderman said Monday night that the lifting of the NDAs is "a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace."
He said the agreement "will finally enable voices that have for too long been muzzled to be heard."
Some female staffers have already defied the NDAs and given interviews on the record about Weinstein.
Others have spoken only on condition of anonymity because they feared that Weinstein's lawyers would retaliate.
It remains to be seen how many accusers or eyewitnesses will come forward now that the company has publicly lifted the NDAs.
There are now more than 60 accusers who have come forward with allegations of sexual misconduct, including some who have accused Weinstein of rape. Weinstein has sought treatment after the allegations were made public last October, but he has consistently denied all allegations of "non-consensual sex."
Meanwhile, the crippled studio has reached a deal with the private equity firm Lantern Capital Partners. Lantern is looking to acquire Weinstein Co. through the bankruptcy process.
The initial bankruptcy paperwork was filed on Monday night. Other bidders could come forward and try to top Lantern's bid for the Weinstein Co. assets.
Amazon tops Google as second most valuable company in US - CNN Money
Amazon tops Google as second most valuable company in US
by Paul R. La Monica @lamonicabuzz
March 20, 2018: 2:16 PM ET
These are the companies Amazon owns
Jeff Bezos is worth about $130 billion, making him the wealthiest person on the planet — and presumably the universe. Maybe one day he'll venture into outer space in one of his Blue Origin rockets to look for another life form with more money.
Until then, Bezos will have to settle for another milestone.
That other company he runs, Amazon (AMZN), just passed Alphabet, the owner of Google (GOOGL), to become the second most valuable company in America. Google stock fell for a third straight day Tuesday while Amazon bounced back.
As a result, Amazon's market value climbed to about $765 billion, almost $3 billion more than what Google is worth. Only Apple is worth more. (And Microsoft (MSFT), which Amazon passed earlier this year, isn't far behind. With a market value of $720 billion, it is the fourth most valuable in the United States.)
Google has been dragged down in recent days by concerns about the Facebook data scandal. Google dominates the search advertising market and owns YouTube. That makes it and Facebook (FB) the leading players in the digital ad world.
Google already admitted last year that Russia-backed troll farms bought ads on YouTube, Gmail and other Google properties leading up to the 2016 US presidential election. Investors are starting to worry that this controversy won't go away anytime soon.
At the very least, Google and Facebook executives could get dragged in front of Congress and lawmakers in Europe to explain themselves.
Perhaps more worrisome: The possibility that regulators could crack down on how these companies sell ads, which could slow their breakneck pace of revenue and profit growth.
Related: Three cheers for old tech? Cisco is the market's comeback kid
That's less of a problem for Amazon than Google, though.
Amazon is still first and foremost a company that makes its money from retail (online and offline thanks to Whole Foods and Amazon-branded stores), Prime subscriptions and hosting websites for other companies through its cloud business.
It's true that Amazon has started to sell more advertising. Research firm eMarketer noted in a report Monday that Amazon is expected to generate nearly $3 billion in digital ad revenue this year.
But that's only 2.7% of the more than $100 billion online ad market. Google, including YouTube, controls more than a third of the market. Ad revenue is expected to hit $40 billion this year.
Of course, Amazon's clout is growing as well. But for now, it seems that investors (and politicians) aren't too concerned about Amazon's dominance. Shares of Amazon have soared 35% this year and are less than 3% from their all-time high.
Amazon still has a ways to go before it tops Apple (AAPL) as the most valuable company on Wall Street. The maker of iEverything is worth nearly $900 billion.
After Cambridge Analytica, does Mark Zuckerberg’s Facebook know too much? - Times of London
march 21 2018, 12:01am, the times
After Cambridge Analytica, does Mark Zuckerberg’s Facebook know too much?
tom whipple, science editor
Intelligent people like science, thunderstorms and curly fries. Less intelligent people like Harley Davidsons, the country music singer Lady Antebellum, and groups entitled “I Love Being a Mom”.
The correlations between personality types and Facebook likes range from the blindingly obvious to the utterly cryptic. Gay men enjoy Wicked the Musical, but why do straight men like groups such as “Being Confused After Waking Up From Naps?”
As far as data scientists, and people targeting election adverts, are concerned, it doesn’t matter. All that is important is what the numbers show.
Using only your “likes” in 2013, two Cambridge scientists showed that they could predict people’s gender with 93 per cent accuracy, sexuality with 80 per cent accuracy and whether their parents were together at 21 with 60 per cent accuracy. In 2015, they showed that with 70 likes, they became better at predicting personality than a person’s friends while 300 likes gave scientists more knowledge about a subject than their own spouse had.
The reason all this matters is that those scientists, Michal Kosinski and David Stillwell, are colleagues of Aleksandr Kogan, who this week was accused of passing data to Cambridge Analytica.
On the face of it, this is troubling. Most of us are used to having targeted adverts follow us around the internet. But even so, there is something inherently creepy about the way in which apparently unconnected social media activity — following the Wu-Tang Clan, being interested in storms — can tell people we don’t know intimate facts about who we are. So, should we be worried? Is democracy dead? Not just yet, perhaps.
The reason why, is that just because you can make a window into men’s souls doesn’t mean you know what to do with it. Cambridge Analytica may claim that it can use data to swing elections, but for a political campaign properly to use this information would require an advert tailored to each person. Alexander Nix, head of Cambridge Analytica, claimed that on one day in the Trump campaign they tested 175,000 different Facebook adverts. The Trump campaign dismissed that as a lie — but even if it wasn’t, how would we know they worked? The truth is, we wouldn’t. None of this has been tested. One form of personalised advertising has been investigated, however.
Back in the pre-Facebook world, there was a way of pitching to each voter, using a semi-intelligent machine that appeared on your doorstep, responded to questions and changed its message accordingly. That machine was known as “a politician”.
Recently, scientists investigated the efficacy of doorstepping. How many votes does it swing? As best they could estimate, none. Categorising minds may be hard; changing them is far harder.
Justine Damond shooting: US policeman charged with murder - BBC News
21/3/2018
Justine Damond shooting: US policeman charged with murder
Mohamed Noor has not spoken to investigators about the shooting
US prosecutors have laid a murder charge against a policeman who shot and killed an unarmed Australian woman.
Officer Mohamed Noor, 32, turned himself in over the death of Justine Damond in Minneapolis, prosecutors said. He is accused of third-degree murder and second-degree manslaughter.
Ms Damond died in July last year after calling police to report a possible sexual assault outside her home.
A lawyer for Mr Noor said his client had acted in line with police training.
But in announcing the charges, Hennepin County Attorney Mike Freeman alleged Mr Noor had "recklessly and intentionally fired his handgun".
"There is no evidence that Officer Noor encountered a threat, appreciated a threat, investigated a threat or confirmed a threat that justified his decision to use deadly force," Mr Freeman told reporters.
If convicted, Mr Noor could face up to 25 years in prison on the murder charge, and up to 10 years on the manslaughter charge.
The death of Ms Damond, also known as Justine Ruszczyk, caused an outcry in both the US and Australia.
Victim's last words
Mr Freeman said Mr Noor was sitting in the passenger seat of a police patrol car when he shot Ms Damond through a window.
After she was shot, Ms Damond put her hands on a wound to her abdomen and said, "I'm dying" or "I'm dead", according to Mr Freeman.
Justine Damond had been living in Minneapolis with her American fiance
The incident prompted the resignation of Minneapolis police chief Janee Harteau last year.
It was described by Australian Prime Minister Malcolm Turnbull as an "inexplicable" and "shocking killing".
Justine Damond's death - what we know
Australia grief over 'American nightmare'
Victim's family 'concerned' about investigation
According to the third-degree murder charge, Mr Noor committed an "eminently dangerous act" while showing a "depraved mind".
The second-degree manslaughter charge accuses him of "culpable negligence creating unreasonable risk".
Mr Noor's lawyer, Tom Plunkett, said his client should not have been charged.
"The facts will show that Office Noor acted as he has been trained and consistent with established departmental policy," Mr Plunkett said in a statement.
Media captionJustine Damond's family hold a silent vigil at a beach in Sydney last year
The officer was placed on leave following the shooting, and elected not to speak to investigators.
At the time of the incident, neither Mr Noor or another officer present, Matthew Harrity, had their body-worn cameras activated.
Prosecutors had previously delayed a decision on whether to lay charges, saying they needed time to gather evidence.
Ms Damond's fiance, Don Damond, and her father, John Ruszczyk, said they welcomed the decision to charge Mr Noor.
"No charges can bring our Justine back," they said in a joint statement.
"However, justice demands accountability for those responsible for recklessly killing the fellow citizens they are sworn to protect, and today's actions reflect that."
Mr Noor is due to face a court in Minneapolis on Wednesday.
Justine Damond shooting: US policeman charged with murder
Mohamed Noor has not spoken to investigators about the shooting
US prosecutors have laid a murder charge against a policeman who shot and killed an unarmed Australian woman.
Officer Mohamed Noor, 32, turned himself in over the death of Justine Damond in Minneapolis, prosecutors said. He is accused of third-degree murder and second-degree manslaughter.
Ms Damond died in July last year after calling police to report a possible sexual assault outside her home.
A lawyer for Mr Noor said his client had acted in line with police training.
But in announcing the charges, Hennepin County Attorney Mike Freeman alleged Mr Noor had "recklessly and intentionally fired his handgun".
"There is no evidence that Officer Noor encountered a threat, appreciated a threat, investigated a threat or confirmed a threat that justified his decision to use deadly force," Mr Freeman told reporters.
If convicted, Mr Noor could face up to 25 years in prison on the murder charge, and up to 10 years on the manslaughter charge.
The death of Ms Damond, also known as Justine Ruszczyk, caused an outcry in both the US and Australia.
Victim's last words
Mr Freeman said Mr Noor was sitting in the passenger seat of a police patrol car when he shot Ms Damond through a window.
After she was shot, Ms Damond put her hands on a wound to her abdomen and said, "I'm dying" or "I'm dead", according to Mr Freeman.
Justine Damond had been living in Minneapolis with her American fiance
The incident prompted the resignation of Minneapolis police chief Janee Harteau last year.
It was described by Australian Prime Minister Malcolm Turnbull as an "inexplicable" and "shocking killing".
Justine Damond's death - what we know
Australia grief over 'American nightmare'
Victim's family 'concerned' about investigation
According to the third-degree murder charge, Mr Noor committed an "eminently dangerous act" while showing a "depraved mind".
The second-degree manslaughter charge accuses him of "culpable negligence creating unreasonable risk".
Mr Noor's lawyer, Tom Plunkett, said his client should not have been charged.
"The facts will show that Office Noor acted as he has been trained and consistent with established departmental policy," Mr Plunkett said in a statement.
Media captionJustine Damond's family hold a silent vigil at a beach in Sydney last year
The officer was placed on leave following the shooting, and elected not to speak to investigators.
At the time of the incident, neither Mr Noor or another officer present, Matthew Harrity, had their body-worn cameras activated.
Prosecutors had previously delayed a decision on whether to lay charges, saying they needed time to gather evidence.
Ms Damond's fiance, Don Damond, and her father, John Ruszczyk, said they welcomed the decision to charge Mr Noor.
"No charges can bring our Justine back," they said in a joint statement.
"However, justice demands accountability for those responsible for recklessly killing the fellow citizens they are sworn to protect, and today's actions reflect that."
Mr Noor is due to face a court in Minneapolis on Wednesday.
Stephen Hawking's ashes to be interred near Sir Isaac Newton's grave - BBC News
Stephen Hawking's ashes to be interred near Sir Isaac Newton's grave
20 March 2018
The professor was a fellow at Gonville and Caius College for more than 50 years
The ashes of Professor Stephen Hawking will be interred next to the grave of Sir Isaac Newton at Westminster Abbey, it has been revealed.
The renowned theoretical physicist's final resting place will also be near that of Charles Darwin, who was buried there in 1882.
Prof Hawking, who had motor neurone disease, died on 14 March, aged 76, at his home in Cambridge.
The Dean of Westminster said the location was "entirely fitting".
A private funeral service will take place at Great St Mary's, the University Church on 31 March, Prof Hawking's family said.
The church is close to Gonville and Caius College, where Prof Hawking had been a fellow for more than 50 years.
Prof Hawking's ashes will be interred at Westminster Abbey later this year
The flag flew at half mast on Prof Hawking's college, Gonville and Caius, on the day his death was announced
The thanksgiving service at Westminster Abbey will take place later in the year.
Announcing funeral arrangements on the college website, Prof Hawking's children Lucy, Robert and Tim said: "Our father lived and worked in Cambridge for over 50 years.
"He was an integral and highly recognisable part of the university and the city.
"For this reason, we have decided to hold his funeral in the city that he loved so much and which loved him. Our father's life and work meant many things to many people, both religious and non-religious. So, the service will be both inclusive and traditional, reflecting the breadth and diversity of his life."
Obituary: Stephen Hawking
Stephen Hawking: A life in pictures
Cambridge remembers Stephen Hawking
China's love for the late Stephen Hawking
The Dean of Westminster, the Very Reverend Dr John Hall, said: "It is entirely fitting that the remains of Professor Stephen Hawking are to be buried in the Abbey, near those of distinguished fellow scientists.
"Sir Isaac Newton was buried in the Abbey in 1727. Charles Darwin was buried beside Isaac Newton in 1882."
He added: "We believe it to be vital that science and religion work together to seek to answer the great questions of the mystery of life and of the universe."
20 March 2018
The professor was a fellow at Gonville and Caius College for more than 50 years
The ashes of Professor Stephen Hawking will be interred next to the grave of Sir Isaac Newton at Westminster Abbey, it has been revealed.
The renowned theoretical physicist's final resting place will also be near that of Charles Darwin, who was buried there in 1882.
Prof Hawking, who had motor neurone disease, died on 14 March, aged 76, at his home in Cambridge.
The Dean of Westminster said the location was "entirely fitting".
A private funeral service will take place at Great St Mary's, the University Church on 31 March, Prof Hawking's family said.
The church is close to Gonville and Caius College, where Prof Hawking had been a fellow for more than 50 years.
Prof Hawking's ashes will be interred at Westminster Abbey later this year
The flag flew at half mast on Prof Hawking's college, Gonville and Caius, on the day his death was announced
The thanksgiving service at Westminster Abbey will take place later in the year.
Announcing funeral arrangements on the college website, Prof Hawking's children Lucy, Robert and Tim said: "Our father lived and worked in Cambridge for over 50 years.
"He was an integral and highly recognisable part of the university and the city.
"For this reason, we have decided to hold his funeral in the city that he loved so much and which loved him. Our father's life and work meant many things to many people, both religious and non-religious. So, the service will be both inclusive and traditional, reflecting the breadth and diversity of his life."
Obituary: Stephen Hawking
Stephen Hawking: A life in pictures
Cambridge remembers Stephen Hawking
China's love for the late Stephen Hawking
The Dean of Westminster, the Very Reverend Dr John Hall, said: "It is entirely fitting that the remains of Professor Stephen Hawking are to be buried in the Abbey, near those of distinguished fellow scientists.
"Sir Isaac Newton was buried in the Abbey in 1727. Charles Darwin was buried beside Isaac Newton in 1882."
He added: "We believe it to be vital that science and religion work together to seek to answer the great questions of the mystery of life and of the universe."
Austin bombings: Suspect dead, say US media - BBC News
21/3/2018
Austin bombings: Suspect dead, say US media
Police investigate an incident involving explosives in Austin on Tuesday
A suspect linked with a series of deadly parcel bombs targeting Austin, Texas, is dead after a major police operation, US media report.
The suspect was killed after reportedly detonating a device off an interstate highway in the Round Rock area of the state capital, CBS News reports.
FBI agents are reportedly now carrying out an investigation at the scene.
The incident follows four bomb attacks in Austin, the state capital, and one in Schertz, 65 miles (104km) south.
CCTV images of a "person of interest" were earlier shared on US media showing a white male with blond hair carrying a number of large packages
View image on TwitterView image on TwitterView image on TwitterView image on Twitter
Randy Beamer
✔
@randybeamer
BREAKING: Exclusive photos of Austin bombing 'Person of Interest' dropping off 2 packages at Austin @FedEx store. Believed to be wearing wig.
Recognize him? Contact: @FBI @Austin_Police
More info: http://bit.ly/2FQdHPR @News4SA @cbsaustin
6:56 PM - Mar 21, 2018
The Austin police department is expected to give a media briefing soon.
Austin has been on edge amid the attacks, which have led to the deployment of hundreds of police officers to the city.
What do we know about the bombings?
Authorities have said that a series of blasts that began in Austin in early March - involving package bombs and a tripwire - were all related:
2 March: A device explodes at Anthony Stephan House's home in Austin, killing the 29-year-old man
13 March: Draylen William Mason, 17, is killed and his mother is critically injured after he brings a package inside his home from the doorstep in Austin
13 March: Hours later, a 75-year-old Hispanic woman, who has not been named, is injured by another package in the state capital
18 March: A device injures two men who may have set off a tripwire while walking along a street in Austin
20 March: A parcel bomb explodes at a FedEx depot in Schertz, slightly injuring one person. Police said the parcel had been due to be shipped to Austin
Media captionTexas explosions: The search for the suspect
What has President Trump said?
US President Donald Trump said on Tuesday that "a very, very sick individual, or maybe individuals" carried out the blasts and pledged justice for the victims.
"The bombings in Austin are terrible," he said on Tuesday.
"This is obviously a very, very sick individual, or maybe individuals.
"We will get to the bottom of it. We will be very strong."
Austin bombings: Suspect dead, say US media
Police investigate an incident involving explosives in Austin on Tuesday
A suspect linked with a series of deadly parcel bombs targeting Austin, Texas, is dead after a major police operation, US media report.
The suspect was killed after reportedly detonating a device off an interstate highway in the Round Rock area of the state capital, CBS News reports.
FBI agents are reportedly now carrying out an investigation at the scene.
The incident follows four bomb attacks in Austin, the state capital, and one in Schertz, 65 miles (104km) south.
CCTV images of a "person of interest" were earlier shared on US media showing a white male with blond hair carrying a number of large packages
View image on TwitterView image on TwitterView image on TwitterView image on Twitter
Randy Beamer
✔
@randybeamer
BREAKING: Exclusive photos of Austin bombing 'Person of Interest' dropping off 2 packages at Austin @FedEx store. Believed to be wearing wig.
Recognize him? Contact: @FBI @Austin_Police
More info: http://bit.ly/2FQdHPR @News4SA @cbsaustin
6:56 PM - Mar 21, 2018
The Austin police department is expected to give a media briefing soon.
Austin has been on edge amid the attacks, which have led to the deployment of hundreds of police officers to the city.
What do we know about the bombings?
Authorities have said that a series of blasts that began in Austin in early March - involving package bombs and a tripwire - were all related:
2 March: A device explodes at Anthony Stephan House's home in Austin, killing the 29-year-old man
13 March: Draylen William Mason, 17, is killed and his mother is critically injured after he brings a package inside his home from the doorstep in Austin
13 March: Hours later, a 75-year-old Hispanic woman, who has not been named, is injured by another package in the state capital
18 March: A device injures two men who may have set off a tripwire while walking along a street in Austin
20 March: A parcel bomb explodes at a FedEx depot in Schertz, slightly injuring one person. Police said the parcel had been due to be shipped to Austin
Media captionTexas explosions: The search for the suspect
What has President Trump said?
US President Donald Trump said on Tuesday that "a very, very sick individual, or maybe individuals" carried out the blasts and pledged justice for the victims.
"The bombings in Austin are terrible," he said on Tuesday.
"This is obviously a very, very sick individual, or maybe individuals.
"We will get to the bottom of it. We will be very strong."
Tuesday, March 20, 2018
President Trump tweets 'WITCH HUNT' after lawyer Ty Cobb says the president isn't thinking about firing special counsel Robert Mueller - CNBC News
President Trump tweets 'WITCH HUNT' after lawyer Ty Cobb says the president isn't thinking about firing special counsel Robert Mueller
White House lawyer Ty Cobb said on Sunday that President Donald Trump was not considering or discussing firing special counsel Robert Mueller.
Cobb's statement came after Trump earlier Sunday criticized Mueller's probe into Russian meddling in the 2016 presidential election.
On Monday, Trump continued his social-media onslaught against the Mueller probe by again calling it a "witch hunt."
Mike Calia | @Michael_Calia
Published 8:37 PM ET Sun, 18 March 2018 Updated 18 Hours Ago
CNBC.com
President Donald Trump waves as he arrives to speak in support of Republican congressional candidate Rick Sacconne during a Make America Great Again rally in Moon Township, Pennsylvania, U.S., March 10, 2018. Trump vents anger towards Mueller investigation
20 Hours Ago | 03:40
White House lawyer Ty Cobb said on Sunday that President Donald Trump was not considering or discussing firing special counsel Robert Mueller – even after the president directly lashed out at Mueller's probe during the weekend.
The lawyer's assurance wasn't likely to assuage concerns that the president would act against the special counsel, however. On Monday, Trump continued his social-media onslaught against the Mueller probe by again calling it a "witch hunt."
@realDonaldTrump
A total WITCH HUNT with massive conflicts of interest!
12:07 AM - Mar 20, 2018
The president's latest attack on Mueller's investigation into Russian meddling in the 2016 election came soon after he promoted, in a tweet, Fox News host Sean Hannity's upcoming appearance on "Fox and Friends," a favorite of Trump's. Hannity would go on to say: "The only person that colluded in that campaign, with the Russians, was Hillary Clinton."
Cobb's statement Sunday night came after hours after Trump tweeted criticism of Mueller's investigation. On Saturday, John Dowd, one of Trump's personal lawyers representing him in the Russia probe, called for a quick end to Mueller's investigation.
"I pray that Acting Attorney General Rosenstein will follow the brilliant and courageous example of the FBI Office of Professional Responsibility and Attorney General Jeff Sessions and bring an end to alleged Russia Collusion investigation manufactured by McCabe's boss James Comey based upon a fraudulent and corrupt Dossier," Dowd wrote in a statement provided to CNBC. The Daily Beast first reported it Saturday morning.
The president followed suit over the weekend with a series of tweets targeting Mueller's probe, fired FBI Director James Comey and the recently fired former FBI deputy director, Andrew McCabe.
18 Mar
@realDonaldTrump
The Fake News is beside themselves that McCabe was caught, called out and fired. How many hundreds of thousands of dollars was given to wife’s campaign by Crooked H friend, Terry M, who was also under investigation? How many lies? How many leaks? Comey knew it all, and much more!
@realDonaldTrump
The Mueller probe should never have been started in that there was no collusion and there was no crime. It was based on fraudulent activities and a Fake Dossier paid for by Crooked Hillary and the DNC, and improperly used in FISA COURT for surveillance of my campaign. WITCH HUNT!
11:12 AM - Mar 18, 2018
@realDonaldTrump
Why does the Mueller team have 13 hardened Democrats, some big Crooked Hillary supporters, and Zero Republicans? Another Dem recently added...does anyone think this is fair? And yet, there is NO COLLUSION!
11:35 PM - Mar 18, 2018
Dowd's statement and Trump's subsequent tweets set off renewed speculation that the president might fire the special council. Even some Republicans voiced their concern over the matter.
Firing Mueller "would be the beginning of the end of his presidency," said Sen. Lindsey Graham of South Carolina. Republican Sen. John McCain, a frequent Trump critic, tweeted that Mueller should be able to complete his investigation "unimpeded."
@SenJohnMcCain
Special Counsel Mueller has served our country with honesty and integrity. It’s critical he be allowed to complete a thorough investigation into Russia’s interference in the 2016 election — unimpeded.
8:25 AM - Mar 19, 2018
Sunday night, however, Cobb, another of the president's attorneys, sought to tamp down speculation that Trump would move soon to fire Mueller.
"In response to media speculation and related questions being posed to the administration, the White House yet again confirms that the President is not considering or discussing the firing of the Special Counsel, Robert Mueller," Cobb said.
Reuters, The Associated Press and CNBC's Valerie Block and Javier David contributed to this report.
White House lawyer Ty Cobb said on Sunday that President Donald Trump was not considering or discussing firing special counsel Robert Mueller.
Cobb's statement came after Trump earlier Sunday criticized Mueller's probe into Russian meddling in the 2016 presidential election.
On Monday, Trump continued his social-media onslaught against the Mueller probe by again calling it a "witch hunt."
Mike Calia | @Michael_Calia
Published 8:37 PM ET Sun, 18 March 2018 Updated 18 Hours Ago
CNBC.com
President Donald Trump waves as he arrives to speak in support of Republican congressional candidate Rick Sacconne during a Make America Great Again rally in Moon Township, Pennsylvania, U.S., March 10, 2018. Trump vents anger towards Mueller investigation
20 Hours Ago | 03:40
White House lawyer Ty Cobb said on Sunday that President Donald Trump was not considering or discussing firing special counsel Robert Mueller – even after the president directly lashed out at Mueller's probe during the weekend.
The lawyer's assurance wasn't likely to assuage concerns that the president would act against the special counsel, however. On Monday, Trump continued his social-media onslaught against the Mueller probe by again calling it a "witch hunt."
@realDonaldTrump
A total WITCH HUNT with massive conflicts of interest!
12:07 AM - Mar 20, 2018
The president's latest attack on Mueller's investigation into Russian meddling in the 2016 election came soon after he promoted, in a tweet, Fox News host Sean Hannity's upcoming appearance on "Fox and Friends," a favorite of Trump's. Hannity would go on to say: "The only person that colluded in that campaign, with the Russians, was Hillary Clinton."
Cobb's statement Sunday night came after hours after Trump tweeted criticism of Mueller's investigation. On Saturday, John Dowd, one of Trump's personal lawyers representing him in the Russia probe, called for a quick end to Mueller's investigation.
"I pray that Acting Attorney General Rosenstein will follow the brilliant and courageous example of the FBI Office of Professional Responsibility and Attorney General Jeff Sessions and bring an end to alleged Russia Collusion investigation manufactured by McCabe's boss James Comey based upon a fraudulent and corrupt Dossier," Dowd wrote in a statement provided to CNBC. The Daily Beast first reported it Saturday morning.
The president followed suit over the weekend with a series of tweets targeting Mueller's probe, fired FBI Director James Comey and the recently fired former FBI deputy director, Andrew McCabe.
18 Mar
@realDonaldTrump
The Fake News is beside themselves that McCabe was caught, called out and fired. How many hundreds of thousands of dollars was given to wife’s campaign by Crooked H friend, Terry M, who was also under investigation? How many lies? How many leaks? Comey knew it all, and much more!
@realDonaldTrump
The Mueller probe should never have been started in that there was no collusion and there was no crime. It was based on fraudulent activities and a Fake Dossier paid for by Crooked Hillary and the DNC, and improperly used in FISA COURT for surveillance of my campaign. WITCH HUNT!
11:12 AM - Mar 18, 2018
@realDonaldTrump
Why does the Mueller team have 13 hardened Democrats, some big Crooked Hillary supporters, and Zero Republicans? Another Dem recently added...does anyone think this is fair? And yet, there is NO COLLUSION!
11:35 PM - Mar 18, 2018
Dowd's statement and Trump's subsequent tweets set off renewed speculation that the president might fire the special council. Even some Republicans voiced their concern over the matter.
Firing Mueller "would be the beginning of the end of his presidency," said Sen. Lindsey Graham of South Carolina. Republican Sen. John McCain, a frequent Trump critic, tweeted that Mueller should be able to complete his investigation "unimpeded."
@SenJohnMcCain
Special Counsel Mueller has served our country with honesty and integrity. It’s critical he be allowed to complete a thorough investigation into Russia’s interference in the 2016 election — unimpeded.
8:25 AM - Mar 19, 2018
Sunday night, however, Cobb, another of the president's attorneys, sought to tamp down speculation that Trump would move soon to fire Mueller.
"In response to media speculation and related questions being posed to the administration, the White House yet again confirms that the President is not considering or discussing the firing of the Special Counsel, Robert Mueller," Cobb said.
Reuters, The Associated Press and CNBC's Valerie Block and Javier David contributed to this report.
Former French president Nicolas Sarkozy in police custody for questioning over 'funding from Gaddafi' - Independent
20/3/2018
Former French president Nicolas Sarkozy in police custody for questioning over 'funding from Gaddafi'
Detectives probing claims Mr Sarkozy's victorious 2007 election campaign received €50m cash payments from Libya
Chris Baynes
Nicolas Sarkozy has been taken into police custody over claims he received millions of euros in illegal election financing from the regime of the late Libyan dictator Muammar Gaddafi, according to French judicial sources.
The former French President was being questioned by officers at Nanterre police station, west of Paris, on Tuesday as part of a five-year investigation into the allegations.
The probe centres on funding for Mr Sarkozy's victorious 2007 presidential election campaign.
Police launched an investigation in alleged misuse of power, forgery, abuse of public money, and money laundering in April 2013.
A year earlier, the investigative news website Mediapart published documents suggesting Libya made cash payments to Mr Sarkozy's campaign of up to €50m.
More follows…
Former French president Nicolas Sarkozy in police custody for questioning over 'funding from Gaddafi'
Detectives probing claims Mr Sarkozy's victorious 2007 election campaign received €50m cash payments from Libya
Chris Baynes
Nicolas Sarkozy has been taken into police custody over claims he received millions of euros in illegal election financing from the regime of the late Libyan dictator Muammar Gaddafi, according to French judicial sources.
The former French President was being questioned by officers at Nanterre police station, west of Paris, on Tuesday as part of a five-year investigation into the allegations.
The probe centres on funding for Mr Sarkozy's victorious 2007 presidential election campaign.
Police launched an investigation in alleged misuse of power, forgery, abuse of public money, and money laundering in April 2013.
A year earlier, the investigative news website Mediapart published documents suggesting Libya made cash payments to Mr Sarkozy's campaign of up to €50m.
More follows…
How Long Will The World's Most Powerful Leaders Last? - NDTV
How Long Will The World's Most Powerful Leaders Last?
Whether democrats, dictators or somewhere in between, they're all balanced atop a shifting ziggurat of potential rivals
World | (c) 2018 Bloomberg | Ben Sills, Andre Tartar, Patricia Suzara, Bloomberg | Updated: March 19, 2018 19:01 IST
Last Days Of Russia's Royal Family Caught In Photos (Hooch)
People Born Before 1987 With No Life Insurance Should See These Plans (Life Insurance | Sponsored Links)
How Long Will The World's Most Powerful Leaders Last?
Donald Trump's first year in office has seen surging markets
The international pecking order is usually defined by economic and military might. That puts the US at the top of the pile, with China gaining fast in second place.
But when it comes to tackling long-term global challenges such as climate change, poverty or peacemaking, it's also vital to identify which leaders are likely to stick around.
Whether democrats, dictators or somewhere in between, they're all balanced atop a shifting ziggurat of potential rivals. And only those with the home front under control are in a position to make meaningful promises for the 2020s or beyond. That's why France's Emmanuel Macron can map out a seven-year programme for reforming the European Union while Theresa May can't look beyond the date of Britain's exit from the bloc next year.
So for an alternative take on who really matters in global affairs, we picked 16 countries and analysed how long their leaders might hold off the palace coups, election defeats or waning powers that end political careers.
We've ranked them on their domestic muscle to see whether they are likely to be shaping events, or shaped by them.
Mohammed Bin Salman, Saudi Arabia
Crown Prince Mohammed bin Salman isn't king yet but he's already effectively running Saudi Arabia at the age of 32 and he could conceivably govern for another half century -- his father, King Salman, is 82, and former King Abdullah died at 90.
Even sceptics say that the prince has cleverly outmanoeuvred competitors, positioning himself to rule the absolute monarchy for decades by pushing aside other royals, though he has made enemies along the way.
"If he remains healthy and the politics, culture, society and economics of the country and the region go in a way that would support a long-term ruler, he could be in leadership for 50-plus years," said Paul Sullivan, a Middle East specialist at Georgetown University in Washington. "This is very rare."
Kim Jong Un, North Korea
A coup, assassination or war with the US appear to be the main risks to Kim Jong Un. But if none of them topple him, he will probably maintain his iron grip on North Korea for decades, just as his father and grandfather did.
kim jong bloomberg graphic
Kim is believed to be in his thirties, so his natural lifespan could easily stretch for another forty or fifty years. Though his weight issues add an element of risk, his father, Kim Jong Il, died at 70, while his grandfather, Kim Il Sung, lived to be 82.
"I do not see any likely scenario in the near future that would undermine Kim Jong Un's power," said Sebastian Maslow, an assistant professor at Kobe University. "Unless we witness action by US or South Korean special military units to remove him by force, we will have to deal with Kim Jong Un as North Korean leader for some time to come."
Xi Jinping, China
After the Chinese Communist Party's move to repeal presidential term limits in February, the main question is how long will President Xi Jinping stay.
The constitutional provision barring heads of state from more than two consecutive terms was the only formal barrier keeping Xi, 64, from staying on past 2023. After being elevated to the same status as Mao Zedong in October, when his name was written into the Communist Party charter, he's positioned to influence China for decades to come.
"Xi has set out his ambition to lead China for the long-term, at least through the 2020s, I think we can assume, if he remains healthy," said Tom Rafferty, the Economist Intelligence Unit's regional manager for China. "Event risk still pertains, however. A bout of economic instability or a mishandled international confrontation -- neither of which can be discounted -- would weaken his position internally and give an opportunity to others."
Vladimir Putin, Russia
Over his 18-year rule, President Vladimir Putin has methodically neutralised any threat to his power, from ambitious oligarchs to Chechen separatists to Western sanctions.
putin reuters
But in 2024 a constitutional limit should force him to give up the presidency. He's already sidestepped those rules once, and he's suggested that's not something he'd do again. The challenge is to ensure his system and his inner circle are safe after he goes.
"Putin wants to keep the levers of influence to give him a veto over his successor's decisions," said Tatiana Stanovaya, a political analyst at the R Politik think-tank. "He has to build a system that will maintain the status quo even when he isn't president -- the Putin regime must remain even without Putin."
Recep Tayyip Erdogan, Turkey
Recep Tayyip Erdogan could become even more influential if he's reelected in November 2019, when more power will be concentrated in the Turkish presidency.
Prime minister from 2003 to 2014 before becoming the country's first directly elected president, the 64-year-old Erdogan survived a coup attempt in 2016 and enjoys strong support from voters as well as the backing of a nationalist opposition party. Although Erdogan is theoretically limited to two five-year terms, he can stretch that if a snap election is called during his second term.
A New York trial last year over the role of some Turkish nationals in an alleged multi-billion dollar conspiracy to undermine U.S. sanctions on Iran has fed the narrative of western conspiracy against Turkey and allowed Erdogan to tighten his grip on power.
"Erdogan is forming political alliances and overhauling laws to get elected as the first executive president," Nihat Ali Ozcan, an analyst at the Ankara-based Economic Policy Research Foundation of Turkey, said. "If he wins, Erdogan could possibly stay in power at least another decade."
Narendra Modi, India
Prime Minister Narendra Modi dominates India's political landscape. Although he lacks the upper-house majority necessary for big structural reforms, PM Modi's Bharatiya Janata Party has proven its popularity, winning numerous state-level elections since he came to power in 2014.
pm modi generic pti
Regional rivals are vulnerable to the BJP's formidable election machine. "Certainly, it seems like they will come back into power in 2019 given their success in state elections and massive popularity -- and in 2024, that's also on the agenda," said Reshmi Khurana, a Singapore-based managing director at the consultancy Kroll. "The absence of a strong opposition makes that highly possible."
Ali Khamenei, Iran
Supreme Leader Ayatollah Ali Khamenei, who was initially elected president of the nascent republic in 1981, has survived an assassination attempt, frontline combat and prostate surgery. Backed by the Iranian Revolutionary Guard Corps and many religious and working-class Iranians, the 78-year-old hardliner is likely to be in power until he dies.
That could mean about another nine years, according to actuarial calculations by Scott Kush of the Life Expectancy Group in Menlo Park, California.
"One doesn't ascend to the pinnacle of power from the position of a virtual underdog in Iran's cutthroat politics without having canny Machiavellian skills," Ali Vaez, director of the Iran Project at the International Crisis Group said. "No one could pose a serious challenge to him."
Emmanuel Macron, France
The French electoral system has been kind to President Emmanuel Macron, enabling him to turn 24 percent of the vote in last April's first round into total dominance of France's executive and legislative branches as the country's traditional parties imploded.
Fixed five-year terms for both the head of state and the National Assembly mean he shouldn't have to face a national vote until 2022.
macron reuters
Forty-year-old Macron's popularity took a beating in his first months in office as he pushed through policies that were seen as benefiting the wealthy but he recovered toward the end of the year. If unpopular measures such as abolishing the wealth tax and liberalizing labor laws can bring economic growth and jobs, the president may well repeat his winning combination in 2022.
"The left-right split hasn't disappeared," said Jerome Fourquet, the head of Ifop's opinion surveys. "But the emergence of a vast central block means that those who embody that split are for the moment condemned to being minority parties."
Nicolas Maduro, Venezuela
President Nicolas Maduro faces newfound challenges with an election set for May and ruinous inflation and hunger prompting months of bloody street protests last year. Yet the 55-year-old former bus driver still has the support of the military and could extend two decades of sweeping victories for his socialist party with the opposition demoralized and divided.
Maduro has increased government spending in recent months, started the process of rewriting the constitution and ramped up the arrests of high-ranking oil industry executives-sidelining potential Chavista rivals-as he seeks to secure his own six-year mandate.
"Maduro governs with an instability fueled by the economic crisis," said Edgar Gutierrez, a political analyst in Caracas. "If the opposition manages to unite and just voting conditions are achieved, then there could be political change. If not, Maduro could remain."
Donald Trump, US
US President Donald Trump's first year in office has seen surging markets and the lowest unemployment in 17 years. But that's still to translate into support for the president.
Trump, 71, has the lowest approval rating of any modern US leader over his first 14 months. The last two presidents to fight a campaign with such poor poll numbers were George HW Bush and Jimmy Carter. Both were defeated.
trump bloomberg graphic
Still, the special counsel investigation into possible ties with Russia is unlikely to cut short his term. Removing Trump from office by impeachment would need a two-thirds majority in the Senate, a distant goal even if the Democrats were to win back control in November.
"A lot of people have been speculating this is the end -- for a year and a half," said Jennifer Lawless, a professor of government at American University in Washington. "It's unlikely that anything would happen."
Muhammadu Buhari, Nigeria
Muhammadu Buhari is likely to retain his grip on Nigeria's presidency until at least the end of his current term in 2019, so long as his health holds out.
The former military ruler spent more than five months in London last year undergoing treatment for an undisclosed ailment, but has displayed renewed vigor since returning home in August.
While 75-year-old Buhari made some headway against an Islamist insurgency, he's struggled to improve living standards in the oil-dependent economy. Though he would start as favorite for reelection given his overwhelming popularity in the north, he'll need to rebuild the coalition that secured him victory last time around.
"He stands more than a fair chance," said Robert Besseling, executive director of political risk advisory firm EXX Africa. "It's not going to be plain sailing though."
Benjamin Netanyahu, Israel
Benjamin Netanyahu's scandals have gripped Israel for a year. But the country's longest-serving prime minister since founding father David Ben-Gurion held his fractious coalition together all the same.
His partners aren't rushing to bring down a nationalist government that's given in to ultra-Orthodox demands, while efforts to rush through a budget suggest there's little appetite for elections before they're due.
israeli prime minister benjamin netanyahu afp
If the 68-year-old Netanyahu survives the police investigations, he could win another four-year term in 2019 and he might even be around for longer, said Avraham Diskin, professor emeritus of political science at the Hebrew University of Jerusalem. That could all change if Netanyahu is indicted, though, and several politicians have begun to prepare for the post-Netanyahu era.
"Some people are starting to write him off but I don't think it's time for that just yet," Diskin said.
Shinzo Abe, Japan
Until a few weeks ago, Abe looked like a sure bet to win a party leadership election in September that would clear the way for him to become Japan's longest-serving prime minister. Yet a land-deal scandal has dented his chances. The 63-year-old has denied ordering officials to tamper with documents, but even his allies are starting to turn on him. One thing going in his favor: He faces scant competition within the ruling Liberal Democratic Party.
Already in office for a total of about six years, Abe could yet choose to step down before the end of his term, for example, if he succeeds in his goal of revising the pacifist constitution to incorporate a reference to the Self-Defense Forces.
"I think he will serve another term as party leader, but I think it will be his last," said Steven Reed, a professor of political science at Chuo University in Tokyo.
Angela Merkel, Germany
Angela Merkel, 63, is settling down for another four years as German chancellor, but she looks more vulnerable than ever before. While few would count her out even after 12 years in power, a much-criticized coalition deal, restive younger leaders and signs that voters want fresh faces in charge present a growing challenge.
merkel reuters
A popular backlash against Merkel's open-borders refugee policy and an inconclusive national election in September forced her Christian Democratic bloc to seek support from the Social Democrats again, an alliance symbolizing the political center.
While there's still speculation that Merkel could leave midway through a fourth term and she's in the twilight of her chancellorship, she's defied expectations before and hasn't anointed a successor.
"There will be more young, promising people in her party that challenge her, and then she will realize her time is over," said Andrea Roemmele, a professor at the Hertie School of Governance in Berlin. "I'm quite confident that she won't run another time."
Theresa May, UK
U.K. Prime Minister Theresa May could be gone by the end of the month or she could limp on to see Brexit over the finish line in March 2019. Few of her lawmakers think she will still be in office come the next scheduled election in 2022.
theresa bloomberg graphic
May, 61, came close to quitting after losing a 20-point poll lead and her parliamentary majority in an unnecessary snap election last June. Normally that would mean resignation, but her party doesn't want a leadership contest with Labour ahead in the polls and Brexit negotiations to deal with. Keeping May also allows potential successors a scapegoat if Brexit talks go south.
"She is very vulnerable," said Nick Anstead, a lecturer in political communication at the London School of Economics. "Her greatest strength is that there is no obvious candidate to replace her who could unite the Conservative Party."
Michel Temer, Brazil
Michel Temer is the oldest and least popular president since Brazil's return to democracy in 1985. He will probably also be the briefest.
Elections are due in October and 77-year-old Temer has repeatedly said he won't be running. Though the economy is gradually recovering from the worst recession on record, most Brazilians aren't feeling much improvement yet and Temer has been pushing a series of unpopular austerity measures including a liberalization of labor laws and a cut in pension benefits. "There's been significant progress on the economic front under the Temer government and that has helped confidence to recover," said Camila Abdelmalack, an economist at CM Capital Markets in Sao Paulo.
michel temer afp
In December even Temer himself joked about his approval ratings, saying that his government's support had doubled-to a whopping 6 percent. Even if he rides out the rest of his term, he'll have been in office for only two years and five months, less even than Fernando Collor, who was toppled by impeachment.
That's the consensus for now. But as Xi Jinping showed last month, even long-term prospects can change quickly when a serious player makes their move. We'll be watching carefully for more events that could reshape the outlook.
Whether democrats, dictators or somewhere in between, they're all balanced atop a shifting ziggurat of potential rivals
World | (c) 2018 Bloomberg | Ben Sills, Andre Tartar, Patricia Suzara, Bloomberg | Updated: March 19, 2018 19:01 IST
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How Long Will The World's Most Powerful Leaders Last?
Donald Trump's first year in office has seen surging markets
The international pecking order is usually defined by economic and military might. That puts the US at the top of the pile, with China gaining fast in second place.
But when it comes to tackling long-term global challenges such as climate change, poverty or peacemaking, it's also vital to identify which leaders are likely to stick around.
Whether democrats, dictators or somewhere in between, they're all balanced atop a shifting ziggurat of potential rivals. And only those with the home front under control are in a position to make meaningful promises for the 2020s or beyond. That's why France's Emmanuel Macron can map out a seven-year programme for reforming the European Union while Theresa May can't look beyond the date of Britain's exit from the bloc next year.
So for an alternative take on who really matters in global affairs, we picked 16 countries and analysed how long their leaders might hold off the palace coups, election defeats or waning powers that end political careers.
We've ranked them on their domestic muscle to see whether they are likely to be shaping events, or shaped by them.
Mohammed Bin Salman, Saudi Arabia
Crown Prince Mohammed bin Salman isn't king yet but he's already effectively running Saudi Arabia at the age of 32 and he could conceivably govern for another half century -- his father, King Salman, is 82, and former King Abdullah died at 90.
Even sceptics say that the prince has cleverly outmanoeuvred competitors, positioning himself to rule the absolute monarchy for decades by pushing aside other royals, though he has made enemies along the way.
"If he remains healthy and the politics, culture, society and economics of the country and the region go in a way that would support a long-term ruler, he could be in leadership for 50-plus years," said Paul Sullivan, a Middle East specialist at Georgetown University in Washington. "This is very rare."
Kim Jong Un, North Korea
A coup, assassination or war with the US appear to be the main risks to Kim Jong Un. But if none of them topple him, he will probably maintain his iron grip on North Korea for decades, just as his father and grandfather did.
kim jong bloomberg graphic
Kim is believed to be in his thirties, so his natural lifespan could easily stretch for another forty or fifty years. Though his weight issues add an element of risk, his father, Kim Jong Il, died at 70, while his grandfather, Kim Il Sung, lived to be 82.
"I do not see any likely scenario in the near future that would undermine Kim Jong Un's power," said Sebastian Maslow, an assistant professor at Kobe University. "Unless we witness action by US or South Korean special military units to remove him by force, we will have to deal with Kim Jong Un as North Korean leader for some time to come."
Xi Jinping, China
After the Chinese Communist Party's move to repeal presidential term limits in February, the main question is how long will President Xi Jinping stay.
The constitutional provision barring heads of state from more than two consecutive terms was the only formal barrier keeping Xi, 64, from staying on past 2023. After being elevated to the same status as Mao Zedong in October, when his name was written into the Communist Party charter, he's positioned to influence China for decades to come.
"Xi has set out his ambition to lead China for the long-term, at least through the 2020s, I think we can assume, if he remains healthy," said Tom Rafferty, the Economist Intelligence Unit's regional manager for China. "Event risk still pertains, however. A bout of economic instability or a mishandled international confrontation -- neither of which can be discounted -- would weaken his position internally and give an opportunity to others."
Vladimir Putin, Russia
Over his 18-year rule, President Vladimir Putin has methodically neutralised any threat to his power, from ambitious oligarchs to Chechen separatists to Western sanctions.
putin reuters
But in 2024 a constitutional limit should force him to give up the presidency. He's already sidestepped those rules once, and he's suggested that's not something he'd do again. The challenge is to ensure his system and his inner circle are safe after he goes.
"Putin wants to keep the levers of influence to give him a veto over his successor's decisions," said Tatiana Stanovaya, a political analyst at the R Politik think-tank. "He has to build a system that will maintain the status quo even when he isn't president -- the Putin regime must remain even without Putin."
Recep Tayyip Erdogan, Turkey
Recep Tayyip Erdogan could become even more influential if he's reelected in November 2019, when more power will be concentrated in the Turkish presidency.
Prime minister from 2003 to 2014 before becoming the country's first directly elected president, the 64-year-old Erdogan survived a coup attempt in 2016 and enjoys strong support from voters as well as the backing of a nationalist opposition party. Although Erdogan is theoretically limited to two five-year terms, he can stretch that if a snap election is called during his second term.
A New York trial last year over the role of some Turkish nationals in an alleged multi-billion dollar conspiracy to undermine U.S. sanctions on Iran has fed the narrative of western conspiracy against Turkey and allowed Erdogan to tighten his grip on power.
"Erdogan is forming political alliances and overhauling laws to get elected as the first executive president," Nihat Ali Ozcan, an analyst at the Ankara-based Economic Policy Research Foundation of Turkey, said. "If he wins, Erdogan could possibly stay in power at least another decade."
Narendra Modi, India
Prime Minister Narendra Modi dominates India's political landscape. Although he lacks the upper-house majority necessary for big structural reforms, PM Modi's Bharatiya Janata Party has proven its popularity, winning numerous state-level elections since he came to power in 2014.
pm modi generic pti
Regional rivals are vulnerable to the BJP's formidable election machine. "Certainly, it seems like they will come back into power in 2019 given their success in state elections and massive popularity -- and in 2024, that's also on the agenda," said Reshmi Khurana, a Singapore-based managing director at the consultancy Kroll. "The absence of a strong opposition makes that highly possible."
Ali Khamenei, Iran
Supreme Leader Ayatollah Ali Khamenei, who was initially elected president of the nascent republic in 1981, has survived an assassination attempt, frontline combat and prostate surgery. Backed by the Iranian Revolutionary Guard Corps and many religious and working-class Iranians, the 78-year-old hardliner is likely to be in power until he dies.
That could mean about another nine years, according to actuarial calculations by Scott Kush of the Life Expectancy Group in Menlo Park, California.
"One doesn't ascend to the pinnacle of power from the position of a virtual underdog in Iran's cutthroat politics without having canny Machiavellian skills," Ali Vaez, director of the Iran Project at the International Crisis Group said. "No one could pose a serious challenge to him."
Emmanuel Macron, France
The French electoral system has been kind to President Emmanuel Macron, enabling him to turn 24 percent of the vote in last April's first round into total dominance of France's executive and legislative branches as the country's traditional parties imploded.
Fixed five-year terms for both the head of state and the National Assembly mean he shouldn't have to face a national vote until 2022.
macron reuters
Forty-year-old Macron's popularity took a beating in his first months in office as he pushed through policies that were seen as benefiting the wealthy but he recovered toward the end of the year. If unpopular measures such as abolishing the wealth tax and liberalizing labor laws can bring economic growth and jobs, the president may well repeat his winning combination in 2022.
"The left-right split hasn't disappeared," said Jerome Fourquet, the head of Ifop's opinion surveys. "But the emergence of a vast central block means that those who embody that split are for the moment condemned to being minority parties."
Nicolas Maduro, Venezuela
President Nicolas Maduro faces newfound challenges with an election set for May and ruinous inflation and hunger prompting months of bloody street protests last year. Yet the 55-year-old former bus driver still has the support of the military and could extend two decades of sweeping victories for his socialist party with the opposition demoralized and divided.
Maduro has increased government spending in recent months, started the process of rewriting the constitution and ramped up the arrests of high-ranking oil industry executives-sidelining potential Chavista rivals-as he seeks to secure his own six-year mandate.
"Maduro governs with an instability fueled by the economic crisis," said Edgar Gutierrez, a political analyst in Caracas. "If the opposition manages to unite and just voting conditions are achieved, then there could be political change. If not, Maduro could remain."
Donald Trump, US
US President Donald Trump's first year in office has seen surging markets and the lowest unemployment in 17 years. But that's still to translate into support for the president.
Trump, 71, has the lowest approval rating of any modern US leader over his first 14 months. The last two presidents to fight a campaign with such poor poll numbers were George HW Bush and Jimmy Carter. Both were defeated.
trump bloomberg graphic
Still, the special counsel investigation into possible ties with Russia is unlikely to cut short his term. Removing Trump from office by impeachment would need a two-thirds majority in the Senate, a distant goal even if the Democrats were to win back control in November.
"A lot of people have been speculating this is the end -- for a year and a half," said Jennifer Lawless, a professor of government at American University in Washington. "It's unlikely that anything would happen."
Muhammadu Buhari, Nigeria
Muhammadu Buhari is likely to retain his grip on Nigeria's presidency until at least the end of his current term in 2019, so long as his health holds out.
The former military ruler spent more than five months in London last year undergoing treatment for an undisclosed ailment, but has displayed renewed vigor since returning home in August.
While 75-year-old Buhari made some headway against an Islamist insurgency, he's struggled to improve living standards in the oil-dependent economy. Though he would start as favorite for reelection given his overwhelming popularity in the north, he'll need to rebuild the coalition that secured him victory last time around.
"He stands more than a fair chance," said Robert Besseling, executive director of political risk advisory firm EXX Africa. "It's not going to be plain sailing though."
Benjamin Netanyahu, Israel
Benjamin Netanyahu's scandals have gripped Israel for a year. But the country's longest-serving prime minister since founding father David Ben-Gurion held his fractious coalition together all the same.
His partners aren't rushing to bring down a nationalist government that's given in to ultra-Orthodox demands, while efforts to rush through a budget suggest there's little appetite for elections before they're due.
israeli prime minister benjamin netanyahu afp
If the 68-year-old Netanyahu survives the police investigations, he could win another four-year term in 2019 and he might even be around for longer, said Avraham Diskin, professor emeritus of political science at the Hebrew University of Jerusalem. That could all change if Netanyahu is indicted, though, and several politicians have begun to prepare for the post-Netanyahu era.
"Some people are starting to write him off but I don't think it's time for that just yet," Diskin said.
Shinzo Abe, Japan
Until a few weeks ago, Abe looked like a sure bet to win a party leadership election in September that would clear the way for him to become Japan's longest-serving prime minister. Yet a land-deal scandal has dented his chances. The 63-year-old has denied ordering officials to tamper with documents, but even his allies are starting to turn on him. One thing going in his favor: He faces scant competition within the ruling Liberal Democratic Party.
Already in office for a total of about six years, Abe could yet choose to step down before the end of his term, for example, if he succeeds in his goal of revising the pacifist constitution to incorporate a reference to the Self-Defense Forces.
"I think he will serve another term as party leader, but I think it will be his last," said Steven Reed, a professor of political science at Chuo University in Tokyo.
Angela Merkel, Germany
Angela Merkel, 63, is settling down for another four years as German chancellor, but she looks more vulnerable than ever before. While few would count her out even after 12 years in power, a much-criticized coalition deal, restive younger leaders and signs that voters want fresh faces in charge present a growing challenge.
merkel reuters
A popular backlash against Merkel's open-borders refugee policy and an inconclusive national election in September forced her Christian Democratic bloc to seek support from the Social Democrats again, an alliance symbolizing the political center.
While there's still speculation that Merkel could leave midway through a fourth term and she's in the twilight of her chancellorship, she's defied expectations before and hasn't anointed a successor.
"There will be more young, promising people in her party that challenge her, and then she will realize her time is over," said Andrea Roemmele, a professor at the Hertie School of Governance in Berlin. "I'm quite confident that she won't run another time."
Theresa May, UK
U.K. Prime Minister Theresa May could be gone by the end of the month or she could limp on to see Brexit over the finish line in March 2019. Few of her lawmakers think she will still be in office come the next scheduled election in 2022.
theresa bloomberg graphic
May, 61, came close to quitting after losing a 20-point poll lead and her parliamentary majority in an unnecessary snap election last June. Normally that would mean resignation, but her party doesn't want a leadership contest with Labour ahead in the polls and Brexit negotiations to deal with. Keeping May also allows potential successors a scapegoat if Brexit talks go south.
"She is very vulnerable," said Nick Anstead, a lecturer in political communication at the London School of Economics. "Her greatest strength is that there is no obvious candidate to replace her who could unite the Conservative Party."
Michel Temer, Brazil
Michel Temer is the oldest and least popular president since Brazil's return to democracy in 1985. He will probably also be the briefest.
Elections are due in October and 77-year-old Temer has repeatedly said he won't be running. Though the economy is gradually recovering from the worst recession on record, most Brazilians aren't feeling much improvement yet and Temer has been pushing a series of unpopular austerity measures including a liberalization of labor laws and a cut in pension benefits. "There's been significant progress on the economic front under the Temer government and that has helped confidence to recover," said Camila Abdelmalack, an economist at CM Capital Markets in Sao Paulo.
michel temer afp
In December even Temer himself joked about his approval ratings, saying that his government's support had doubled-to a whopping 6 percent. Even if he rides out the rest of his term, he'll have been in office for only two years and five months, less even than Fernando Collor, who was toppled by impeachment.
That's the consensus for now. But as Xi Jinping showed last month, even long-term prospects can change quickly when a serious player makes their move. We'll be watching carefully for more events that could reshape the outlook.
Elon Musk remembers the SpaceX of 10 years ago: ‘We couldn’t even reach orbit with little Falcon 1’ - CNBC News
Elon Musk remembers the SpaceX of 10 years ago: ‘We couldn’t even reach orbit with little Falcon 1’
Catherine Clifford 1:43 PM ET Tue, 6 March 2018
Elon Musk remembers the SpaceX of 10 years ago: ‘We couldn’t even reach orbit with little Falcon 1’ Elon Musk remembers the SpaceX of 10 years ago: ‘We couldn’t even reach orbit with little Falcon 1’
Tuesday morning, SpaceX successfully launched into space its largest satellite ever — it was nearly the size of a city bus, according to founder Elon Musk.
@elonmusk
Falcon 9 flight 50 launches tonight, carrying Hispasat for Spain. At 6 metric tons and almost the size of a city bus, it will be the largest geostationary satellite we’ve ever flown.
6:48 AM - Mar 6, 2018
@SpaceX
Successful deployment of Hispasat 30W-6 to a geostationary transfer orbit confirmed.
5:07 PM - Mar 6, 2018
After the launch, Musk celebrated his team, congratulating them on the 50th launch of the Falcon 9 rocket, notable because it is reusable.
6 Mar
@SpaceX
Successful deployment of Hispasat 30W-6 to a geostationary transfer orbit confirmed. pic.twitter.com/PHctrfzwKa
@elonmusk
Very proud of the SpaceX team! Can’t believe it’s been fifty Falcon 9 launches already. Just ten years ago, we couldn’t even reach orbit with little Falcon 1.
5:51 PM - Mar 6, 2018
But Musk also reminded everyone that the recent success of SpaceX belies the struggle of its early days.
"Just ten years ago, we couldn't even reach orbit with little Falcon 1," Musk tweeted.
Indeed, SpaceX has come a long way.
"A lot of people really only heard of SpaceX relatively recently, they may think Falcon 9 and Dragon just instantly appeared and that's how it always was. But it wasn't," said Musk at the International Astronautical Congress (IAC) conference in Adelaide, Australia, in September.
"We started off with just a few people who really didn't know how to make rockets," the CEO of SpaceX recalled.
Elon Musk
Photo by Bloomberg
Elon Musk
The Hawthorne, California-based aeronautics company was founded in 2002 to "revolutionize space technology" and enable multiplanitary human existence and the ability to live on Mars in particular.
To try and compete in the rocket industry was risky.
"I had so many people try to talk me out of starting a rocket company, it was crazy," Musk told Scott Pelley on CBS's "60 Minutes" in 2014. "One good friend of mine collected a whole series of videos of rockets blowing up and made me watch those. He just didn't want me to lose all my money."
Musk had made a reported $180 million when online payments company PayPal sold to eBay for $1.5 billion in 2002.
Early on, Musk had a hard time bringing on top talent.
"The reason I ended up being the chief engineer or chief designer was not because I wanted to, it was because I couldn't hire anyone. Nobody good would join. So I ended up being that by default," Musk said at IAC in 2017.
And in 2008, SpaceX almost died.
At the time, the company was trying to successfully launch the its first rocket, the Falcon 1.
"I messed up the first three launches. The first three launches failed," Musk remembered, speaking at IAC in Australia.
Plus, his electric automobile company, Tesla, founded in 2003, was struggling. The U.S. economy was tanking. "And I'm getting divorced, by the way, add to that. That was definitely the worst year of my life," Musk told Pelley.
"A fourth [rocket launch] failure would have been absolutely game over," said Musk. "Yeah. It's bad enough to have three strikes, having four strikes is really kaput."
But finally, a ray of hope.
"[F]ortunately, the fourth launch, which was ... the last money that we had for Falcon 1 — that fourth launch worked. Or it would have been — that would have been it for SpaceX. But fate liked us that day. So, the fourth launch worked," Musk said at IAC.
After SpaceX successfully launched its first rocket that September, the company got a government contract, which buoyed business.
"NASA called and told us that we'd won a $1.5 billion contract. And I couldn't even hold the phone, I just blurted out, 'I love you guys,'" Musk told Pelley.
Since the dark days of 2008, SpaceX has evolved from a near failure to a success story.
According to Musk, it's all driven by his desire to get to Mars, so that he can help build a better future.
"It's important to have a future that is inspiring and appealing," said Musk in a 2017 TED talk.
"I just think there have to be reasons that you get up in the morning and you want to live. Like, why do you want to live? What's the point? What inspires you? What do you love about the future?
"And if we're not out there, if the future does not include being out there among the stars and being a multiplanet species, I find that it's incredibly depressing if that's not the future that we're going to have."
Catherine Clifford 1:43 PM ET Tue, 6 March 2018
Elon Musk remembers the SpaceX of 10 years ago: ‘We couldn’t even reach orbit with little Falcon 1’ Elon Musk remembers the SpaceX of 10 years ago: ‘We couldn’t even reach orbit with little Falcon 1’
Tuesday morning, SpaceX successfully launched into space its largest satellite ever — it was nearly the size of a city bus, according to founder Elon Musk.
@elonmusk
Falcon 9 flight 50 launches tonight, carrying Hispasat for Spain. At 6 metric tons and almost the size of a city bus, it will be the largest geostationary satellite we’ve ever flown.
6:48 AM - Mar 6, 2018
@SpaceX
Successful deployment of Hispasat 30W-6 to a geostationary transfer orbit confirmed.
5:07 PM - Mar 6, 2018
After the launch, Musk celebrated his team, congratulating them on the 50th launch of the Falcon 9 rocket, notable because it is reusable.
6 Mar
@SpaceX
Successful deployment of Hispasat 30W-6 to a geostationary transfer orbit confirmed. pic.twitter.com/PHctrfzwKa
@elonmusk
Very proud of the SpaceX team! Can’t believe it’s been fifty Falcon 9 launches already. Just ten years ago, we couldn’t even reach orbit with little Falcon 1.
5:51 PM - Mar 6, 2018
But Musk also reminded everyone that the recent success of SpaceX belies the struggle of its early days.
"Just ten years ago, we couldn't even reach orbit with little Falcon 1," Musk tweeted.
Indeed, SpaceX has come a long way.
"A lot of people really only heard of SpaceX relatively recently, they may think Falcon 9 and Dragon just instantly appeared and that's how it always was. But it wasn't," said Musk at the International Astronautical Congress (IAC) conference in Adelaide, Australia, in September.
"We started off with just a few people who really didn't know how to make rockets," the CEO of SpaceX recalled.
Elon Musk
Photo by Bloomberg
Elon Musk
The Hawthorne, California-based aeronautics company was founded in 2002 to "revolutionize space technology" and enable multiplanitary human existence and the ability to live on Mars in particular.
To try and compete in the rocket industry was risky.
"I had so many people try to talk me out of starting a rocket company, it was crazy," Musk told Scott Pelley on CBS's "60 Minutes" in 2014. "One good friend of mine collected a whole series of videos of rockets blowing up and made me watch those. He just didn't want me to lose all my money."
Musk had made a reported $180 million when online payments company PayPal sold to eBay for $1.5 billion in 2002.
Early on, Musk had a hard time bringing on top talent.
"The reason I ended up being the chief engineer or chief designer was not because I wanted to, it was because I couldn't hire anyone. Nobody good would join. So I ended up being that by default," Musk said at IAC in 2017.
And in 2008, SpaceX almost died.
At the time, the company was trying to successfully launch the its first rocket, the Falcon 1.
"I messed up the first three launches. The first three launches failed," Musk remembered, speaking at IAC in Australia.
Plus, his electric automobile company, Tesla, founded in 2003, was struggling. The U.S. economy was tanking. "And I'm getting divorced, by the way, add to that. That was definitely the worst year of my life," Musk told Pelley.
"A fourth [rocket launch] failure would have been absolutely game over," said Musk. "Yeah. It's bad enough to have three strikes, having four strikes is really kaput."
But finally, a ray of hope.
"[F]ortunately, the fourth launch, which was ... the last money that we had for Falcon 1 — that fourth launch worked. Or it would have been — that would have been it for SpaceX. But fate liked us that day. So, the fourth launch worked," Musk said at IAC.
After SpaceX successfully launched its first rocket that September, the company got a government contract, which buoyed business.
"NASA called and told us that we'd won a $1.5 billion contract. And I couldn't even hold the phone, I just blurted out, 'I love you guys,'" Musk told Pelley.
Since the dark days of 2008, SpaceX has evolved from a near failure to a success story.
According to Musk, it's all driven by his desire to get to Mars, so that he can help build a better future.
"It's important to have a future that is inspiring and appealing," said Musk in a 2017 TED talk.
"I just think there have to be reasons that you get up in the morning and you want to live. Like, why do you want to live? What's the point? What inspires you? What do you love about the future?
"And if we're not out there, if the future does not include being out there among the stars and being a multiplanet species, I find that it's incredibly depressing if that's not the future that we're going to have."
Fiscal Conservatives Poised for Defeat in U.S. Spending Bill - Bloomberg
Fiscal Conservatives Poised for Defeat in U.S. Spending Bill
By and
March 19, 2018, 7:00 PM GMT+11
Lawmakers are set to increase domestic spending by $63 billion
Unresolved issues include N.Y.-N.J. train tunnel under Hudson
Conservative Republicans are poised to lose another fiscal fight this week as leaders in Congress prepare a $1.2 trillion government spending bill that will increase domestic costs instead of imposing the cuts they want.
House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell plan to rely on Democratic help to push the bill through over the conservatives’ objections. If Congress can’t pass it by Friday night -- or agree to a temporary spending extension -- the government could partially shut down for the third time this year.
Lawmakers are set to release details of the spending plan late Monday. So far it’s unclear whether the measure will include funding for President Donald Trump’s U.S.-Mexico border wall, money for the Gateway rail tunnel between New York and New Jersey that Trump seeks to block, or immigration provisions sought by Democrats.
Mark MeadowsPhotographer: Andrew Harrer/Bloomberg
Democrats have leverage in the negotiations because the GOP needs their help to get the 60 votes to advance the bill in the Senate. It’s already clear the amount of spending will leave fiscal conservatives fuming.
"I don’t have a whole lot of optimism that there will be any significant conservative wins," said House Freedom Caucus leader Mark Meadows, a North Carolina Republican. "Having not seen the bill but having heard about its contents, the lack of conservative principles in there is a disappointment."
Meadows predicted that many of his colleagues will support the measure, however, because they believe the military needs more funding and the increased domestic spending is a price that must be paid.
Budget Caps
The spending bill, which would fund the government through September, will adhere to a February budget-cap agreement that most House Republicans backed over the objection of fiscal conservatives. Many Republicans voted for the plan because it would boost defense spending by $80 billion this year, while many Democrats agreed because it would increase non-defense spending by $63 billion.
"The spending levels are going to be egregious," said Dan Holler, vice president at Heritage Action for America, the political arm of the conservative Heritage Foundation.
GOP Senator Rand Paul of Kentucky, an opponent of increased government spending, delayed a vote on the budget measure, shutting down the government for several hours on Feb. 9 to protest the added spending. Most of the 28 senators who opposed the cap deal were Republicans protesting spending.
Congressional spending disputes also led to a three-day partial shutdown in January.
Border Wall
In talks for this week’s spending bill, the White House floated the possibility of adding funds for Trump’s border wall in exchange for Democrats’ demand to temporarily shield from deportation thousands of undocumented immigrants brought to the U.S. as children.
Trump wants to block $900 million in the bill that would help fund the Gateway tunnel, which is part of a $30 billion series of repairs and expansions for travel between New Jersey and New York. The president contends the states need to contribute more to a project coveted by lawmakers from the region including Minority Leader Chuck Schumer of New York. The tunnel would supplement a century-old tube that provides the only rail link between New Jersey and Manhattan and is regarded as critical for the Northeast economy.
This week’s bill may also include measures to shore up Obamacare, re-activate the Export-Import Bank and impose an internet sales tax.
Republican leaders are worried about losing more support for the bill if Obamacare language is included, Representative Tom Cole said. Negotiations on that have stalled as leaders pushed for anti-abortion restrictions to be tied to any subsidies to Obamacare insurers, something Democrats say is a poison pill.
Opioid Addiction
Ryan and his team will argue there’s much in the plan for their party to like, including increased spending to combat opioid addiction and funds to rebuild infrastructure, both of which are backed by Trump.
The bill likely will include other measures designed to attract conservative support. It would block new benefits for Planned Parenthood, which provides abortions and other women’s health services, and eliminate funding for a United Nations program that supports developing countries’ response to climate change.
Most House Democrats opposed the budget-cap agreement to protest Ryan’s refusal to consider legislation to the shield young immigrants, known as dreamers, from deportation after Trump sought to rescind an Obama-era order protecting them. A federal judge has temporarily blocked deportation of the dreamers.
The broad spending measure is set to come to the floor as the GOP agenda is rapidly thinning out, raising the possibility that it will be the last major legislation to clear Congress before this year’s congressional election. Republicans are at risk of losing control of both the House and Senate.
Republicans are eager to start campaigning, especially after Democrat Conor Lamb’s apparent victory last week in a Pennsylvania special election in a House district that Trump won by 20 percentage points. Tuesday’s vote was close and a final result hasn’t yet been certified.
Losing Momentum
Significant measures that lawmakers and the White House sought to advance earlier this year are losing momentum.
Trump’s proposal for at least $200 billion in infrastructure spending over 10 years is dissolving, in part because top Republicans say there’s no consensus on how to fund it. A possible debate over gun control and school safety after last month’s high school shooting in Parkland, Florida, appears stalled in the Senate.
GOP leaders in both chambers have said they probably won’t advance legislation to nullify Trump’s announced tariffs on aluminum and steel, which many lawmakers have said could hurt the U.S. economy and lead to retaliation from other countries.
“There’s really not a lot of time to get much done,” said Stan Collender, a former congressional budget aide and now executive vice president at Qorvis MSLGroup in Washington. “Congress is going to want to leave early, especially with the prospects of a Democratic wave. The Republican majority is going to want to be home.”
By and
March 19, 2018, 7:00 PM GMT+11
Lawmakers are set to increase domestic spending by $63 billion
Unresolved issues include N.Y.-N.J. train tunnel under Hudson
Conservative Republicans are poised to lose another fiscal fight this week as leaders in Congress prepare a $1.2 trillion government spending bill that will increase domestic costs instead of imposing the cuts they want.
House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell plan to rely on Democratic help to push the bill through over the conservatives’ objections. If Congress can’t pass it by Friday night -- or agree to a temporary spending extension -- the government could partially shut down for the third time this year.
Lawmakers are set to release details of the spending plan late Monday. So far it’s unclear whether the measure will include funding for President Donald Trump’s U.S.-Mexico border wall, money for the Gateway rail tunnel between New York and New Jersey that Trump seeks to block, or immigration provisions sought by Democrats.
Mark MeadowsPhotographer: Andrew Harrer/Bloomberg
Democrats have leverage in the negotiations because the GOP needs their help to get the 60 votes to advance the bill in the Senate. It’s already clear the amount of spending will leave fiscal conservatives fuming.
"I don’t have a whole lot of optimism that there will be any significant conservative wins," said House Freedom Caucus leader Mark Meadows, a North Carolina Republican. "Having not seen the bill but having heard about its contents, the lack of conservative principles in there is a disappointment."
Meadows predicted that many of his colleagues will support the measure, however, because they believe the military needs more funding and the increased domestic spending is a price that must be paid.
Budget Caps
The spending bill, which would fund the government through September, will adhere to a February budget-cap agreement that most House Republicans backed over the objection of fiscal conservatives. Many Republicans voted for the plan because it would boost defense spending by $80 billion this year, while many Democrats agreed because it would increase non-defense spending by $63 billion.
"The spending levels are going to be egregious," said Dan Holler, vice president at Heritage Action for America, the political arm of the conservative Heritage Foundation.
GOP Senator Rand Paul of Kentucky, an opponent of increased government spending, delayed a vote on the budget measure, shutting down the government for several hours on Feb. 9 to protest the added spending. Most of the 28 senators who opposed the cap deal were Republicans protesting spending.
Congressional spending disputes also led to a three-day partial shutdown in January.
Border Wall
In talks for this week’s spending bill, the White House floated the possibility of adding funds for Trump’s border wall in exchange for Democrats’ demand to temporarily shield from deportation thousands of undocumented immigrants brought to the U.S. as children.
Trump wants to block $900 million in the bill that would help fund the Gateway tunnel, which is part of a $30 billion series of repairs and expansions for travel between New Jersey and New York. The president contends the states need to contribute more to a project coveted by lawmakers from the region including Minority Leader Chuck Schumer of New York. The tunnel would supplement a century-old tube that provides the only rail link between New Jersey and Manhattan and is regarded as critical for the Northeast economy.
This week’s bill may also include measures to shore up Obamacare, re-activate the Export-Import Bank and impose an internet sales tax.
Republican leaders are worried about losing more support for the bill if Obamacare language is included, Representative Tom Cole said. Negotiations on that have stalled as leaders pushed for anti-abortion restrictions to be tied to any subsidies to Obamacare insurers, something Democrats say is a poison pill.
Opioid Addiction
Ryan and his team will argue there’s much in the plan for their party to like, including increased spending to combat opioid addiction and funds to rebuild infrastructure, both of which are backed by Trump.
The bill likely will include other measures designed to attract conservative support. It would block new benefits for Planned Parenthood, which provides abortions and other women’s health services, and eliminate funding for a United Nations program that supports developing countries’ response to climate change.
Most House Democrats opposed the budget-cap agreement to protest Ryan’s refusal to consider legislation to the shield young immigrants, known as dreamers, from deportation after Trump sought to rescind an Obama-era order protecting them. A federal judge has temporarily blocked deportation of the dreamers.
The broad spending measure is set to come to the floor as the GOP agenda is rapidly thinning out, raising the possibility that it will be the last major legislation to clear Congress before this year’s congressional election. Republicans are at risk of losing control of both the House and Senate.
Republicans are eager to start campaigning, especially after Democrat Conor Lamb’s apparent victory last week in a Pennsylvania special election in a House district that Trump won by 20 percentage points. Tuesday’s vote was close and a final result hasn’t yet been certified.
Losing Momentum
Significant measures that lawmakers and the White House sought to advance earlier this year are losing momentum.
Trump’s proposal for at least $200 billion in infrastructure spending over 10 years is dissolving, in part because top Republicans say there’s no consensus on how to fund it. A possible debate over gun control and school safety after last month’s high school shooting in Parkland, Florida, appears stalled in the Senate.
GOP leaders in both chambers have said they probably won’t advance legislation to nullify Trump’s announced tariffs on aluminum and steel, which many lawmakers have said could hurt the U.S. economy and lead to retaliation from other countries.
“There’s really not a lot of time to get much done,” said Stan Collender, a former congressional budget aide and now executive vice president at Qorvis MSLGroup in Washington. “Congress is going to want to leave early, especially with the prospects of a Democratic wave. The Republican majority is going to want to be home.”
This Is What Record-Low Unemployment Looks Like in America - Bloomberg
This Is What Record-Low Unemployment Looks Like in America
In towns where workers are scarce, employers are boosting pay and perks and stepping up recruiting—all while trying to avoid raising prices.
Portland, Maine’s historic district. PHOTOGRAPHER: GREGORY HALPERN FOR BLOOMBERG BUSINESSWEEK
By and March 15, 2018, 8:00 PM GMT+11
What will happen when the U.S. unemployment rate falls below 4 percent, which is expected to occur by this summer? One way to tell is to look at cities where joblessness is already lower than that. Bloomberg News reporters traveled to Iowa, Georgia, and Maine. What they saw there is encouraging. They discovered that employers have found ways to cope with tight labor markets and still make money. Businesses have pulled in workers from the sidelines—including retirees, immigrants, and the homeless—and retooled processes to use less labor. Some have raised pay considerably for certain jobs, but so far there are no signs of an overall wage explosion. That should embolden those at the Federal Reserve who want to raise interest rates slowly to give growth a chance.
Portland, Maine: Making Do With Fewer Workers
Population: 66,937
Unemployment rate: 1.8%
Average weekly wages: $924
From polished sea-salt caramel balls to truffles packaged with hand-tied bows, the treats on sale at Wilbur’s of Maine Chocolate Confections in Freeport exude artisanal charm. While that’s a source of pride for owner Andrew Wilbur, whose parents started the business, he’s staring down a dilemma. Manufacturing workers are hard to come by in Freeport, which is 15 miles north of Portland and part of its statistical area. At 1.8 percent, the unemployment rate is the third-lowest in the country. “It’s made me think, Do I go to more mechanization?” Wilbur says from inside his production plant, where three employees are making candy in what look like mini cement mixers.
Employees at Wilbur’s of Maine Chocolate Confections in Freeport.PHOTOGRAPHER: GREGORY HALPERN FOR BLOOMBERG BUSINESSWEEK
Wilbur has raised wages for his 40 employees by more than 20 percent over the past three years, but he’s passed hardly any of his costs onto consumers. Business at his three brick-and-mortar outlets is already unchanged or down, and he would have lost online and wholesale customers if he’d raised prices substantially, he says.
It takes a full year for these employees to get up to speed and five for them to hit what Wilbur, without a hint of irony, calls “the sweet spot.” With inexperienced workers starting at $12 to $14 an hour, onboarding is becoming a major expense. Lowering his voice a little, Wilbur admits that he’s changed some of his packaging to make it less labor-intensive, including doing away with hand-applied labels.
Shipwreck & Cargo, a souvenir shop in downtown Portland that stocks items such as lobster-printed boxers and Maine blueberry tea, staffed its floor with only two sales assistants during the busy summer season instead of the usual three. The supply of workers has dried up just as the tourism industry is on an upswing, says store manager Jennifer Smith. “You want the right people, standing and smiling in front,” says Smith, who adds that the applicant pool has gotten smaller and less qualified in the five years she’s been running the shop.
The leisure and hospitality sector is the backbone of the local economy, but professional and business services have been engines of growth in recent years. Weekly wages in the Portland region have been moving up gradually, climbing in line with the national average through the first three quarters of 2017, the latest figures show. Inflation in the Northeast has been running below 2 percent.
One big reason employers are struggling to fill slots is that Maine’s population growth has leveled off. The state has the highest median age in the country at 44. “Last year, I was unable to get how many people I needed. I was probably short one and a half people,” says Tammara Croman, the manager of Portland’s Pomegranate Inn, whose eight guest rooms are outfitted with exuberant floral wallpapers and works by local artists. She says the operation ran at full capacity last summer, though with too-few housekeepers, it wasn’t able to accommodate as many early check-ins. “We end up having to hire people who we wouldn’t normally,” says Croman, who’s already put out feelers for the summer.
Applicants with no relevant experience are asked to come in for three-week trials, which gives Croman a chance to see if they’re cut out for the work—a mix of housekeeping and customer service. “It allows you to see the person’s work ethic, if they’re showing up on time, if they’re doing a good job,” she says.
The workforce challenges have been “top of mind for a while, and I don’t know if we see an end in sight,” says Quincy Hentzel, head of the Portland Regional Chamber of Commerce. That said, it isn’t all bad. “Businesses are extremely appreciative of their good employees and working really hard on retention,” she says. “That’s wonderful.”
A tight labor market also means that employees can afford to be picky. At Wilbur’s chocolate shop, two store managers left last year because they had better prospects in administrative work. While the business managed to hire replacements, mounting payroll costs are weighing on profit margins. Pointing to a large, hand-painted chocolate Easter bunny in his factory, Wilbur shakes his head. “We probably make a lot of people happy,” he says, “but I’m not sure that we cover the bills.” —Jeanna Smialek
Marietta, Georgia: Casting a Wider Net
Population: 60,941
Unemployment rate: 3.7%
Average weekly wages: $1,139
Lanre Bakare, a 36-year-old Nigerian immigrant, was homeless and had little marketable work experience when he was accepted into a training program run by CobbWorks Inc., a federally funded nonprofit that matches workers and businesses in the construction, logistics, information technology, and health-care fields. Now he earns $40,000 annually as an analyst managing vendors and supplies at residential construction sites in Cobb County, Ga., and the surrounding area. Eleven months into the job, Bakare still marvels at his salaried status and is looking forward to that most dreaded of employment rituals: the performance review. “I’m really excited,” he says. “We’re going to talk about if they are going to increase my job, what are my possibilities.”
Lanre Bakare.PHOTOGRAPHER: JOHNATHON KELSO FOR BLOOMBERG BUSINESSWEEK
CobbWorks has been around since 2000 but has recently expanded its outreach, training people with spotty work histories or criminal backgrounds who employers wouldn’t have considered a few years ago. Companies can no longer afford to be as picky. Unemployment in Cobb County, whose seat is Marietta, a city of 61,000 about 20 miles northwest of downtown Atlanta, was 3.7 percent in December. Weekly wages in the area rose more slowly than the national average through the first three quarters of 2017, the latest figures show. Inflation, meanwhile, has been moving up relatively quickly in the Atlanta area, climbing 3.3 percent in February compared with the nation’s 2.2 percent.
Marietta’s biggest employer, hospital network WellStar Health System, says it’s not feeling the labor crunch because of a decade-long campaign to ensure its pay and benefits are competitive. Attrition at WellStar is below the national average for the sector, according to spokesman Keith Bowermaster. The city’s No. 2 employer, Lockheed Martin Corp., is relatively insulated from local labor trends because the market for aerospace engineering work is national.
But some smaller businesses in the area are scrambling. That’s particularly true in the Cobb Galleria and adjacent Cumberland Mall areas, a few miles south on I-75, where office buildings, hotels, stores, restaurants, and a new ballpark for the Atlanta Braves compete for workers. “We’ve had fast-food restaurants offering bonuses,” says Roger Tutterow, an economist at Kennesaw State University. He’s also seen signs that labor shortages are constraining certain industries, noting that the number of building permits issued last year was half what it was during the boom that preceded the housing bust, even though demand for new homes is running high.
Several Marietta companies report they’re improving benefits to hang on to employees and attract new ones. InfoMart Inc., a 137-person operation that performs background screenings for companies, began paying 100 percent of its employees’ health insurance premiums this year, up from 75 percent. It also rehabbed its office space to make it more “collaborative-looking,” says Senior Vice President Tim Gordon, who’s especially keen to attract millennials. InfoMart also allows its tech employees to work from home four out of five days a week.
Paul Lubertazzi.PHOTOGRAPHER: JOHNATHON KELSO FOR BLOOMBERG BUSINESSWEEK
Just outside the city limits, Gas South LLC, a natural gas retailer, raised its minimum wage to $15 an hour in late 2016 and now offers every employee—including those in its call center—a one-month paid sabbatical every five years on top of regular vacation time. It also pays its workers’ health insurance premiums and has equipped its call center employees so they can work from home. “We did some research into the cost of living and discovered that some of our people were really struggling,” says Chief Executive Officer Kevin Greiner. “With more money comes less stress. It helps us recruit and keep quality people.”
Paul’s Pot Pies is one of several storefronts lining Marietta’s well-appointed town square, which is outfitted with a gazebo, flowering trees, and boxes of blooming tulips, daffodils, and hyacinths. Its proprietor, Paul Lubertazzi, added $2 to the hourly pay of his minimum-wage workers eight months ago because he says he was afraid he’d lose them to other businesses. A pickup in sales of his frozen pastry pies, which cost $9 to $25, helped pay for the increase. But the cost of many of his ingredients, particularly vegetables, has risen too, which is why he plans to raise prices sometime this year: “I wanted to do it in January, but I’m holding off,” Lubertazzi says. “People do complain.” —Margaret Newkirk
Ames, Iowa: Building an Employee Pipeline
Population: 66,191
Unemployment rate: 1.5%
Average weekly wages: $833
“Join our team,” beckons the chyron in foot-tall red lettering outside the Taco John’s in Ames, Iowa. Across the street, a cactus-shaped sign at TacoTime declares that it, too, is hiring.
“Help wanted” signs are a common sight in Ames, which boasts the lowest unemployment rate in the nation—1.5 percent. From behind the beige laminate cashier counter of the Taco John’s, manager Justin Cornelius says this outpost of the Tex-Mex chain raised pay by 50¢ an hour in the fall. Still, turnover has increased, because workers have more options than they did a few years ago. Cornelius himself is a fill-in; he’s been on loan from a Des Moines restaurant since December. Usually, it takes four to six weeks to find a permanent manager. In Ames it’s been 10 weeks and counting.
Two miles north, at O’Donnell Ace Hardware, manager Tausha Tjernagel says her store has lifted wages every six months for the past year and a half. She’s now starting full-time workers with no experience at $11 an hour, well above the state’s $7.25 minimum. Even so, Tjernagel has had to ask employees to be flexible to fill holes in the schedule. Older part-timers who’d prefer a weekday morning shift are spending their Saturdays ringing up lawn fertilizer or stocking shelves with hammers and nails. But that’s better than letting checkout lines get longer, which is what several town residents say is happening at other retailers. Says Tjernagel: “We make it so that it’s not noticeable to our customers.”
Tausha Tjernagel.PHOTOGRAPHER: WALKER PICKERING FOR BLOOMBERG BUSINESSWEEK
Wait times aren’t the only pain a supercharged labor market is causing in this city of 66,000, home to the world’s largest gnome statue and Iowa State University. The school is Ames’s largest employer, as well as a magnet for companies across the Midwest that are fighting the region’s brain drain. Locals say prices haven’t been picking up rapidly, and inflation in the Midwest as a whole continues to run below 2 percent. Average weekly wages grew slightly faster than national wages through the first three quarters of 2017—though a separate data series on hourly earnings showed a pop in Ames in January, which is early evidence that faster gains may be materializing.
There are other signs the local economy is running hot. A home price index shot up 7 percent in the fourth quarter of 2017. Kellie Mullaney, a career development adviser at Iowa State, recalls that when she and her husband bought their home three years ago, listings sold in a day: “It seemed like the price range we were in, everyone else was in, too.”
To get around the housing constraint, businesses are trying to make it easier for workers to commute in from elsewhere. Mary Greeley Medical Center—one of Ames’s largest employers—is working on setting up a ride-sharing program for employees who live in nearby Story City or Des Moines, where the unemployment rate is 2 percentage points higher.
The Ames Chamber of Commerce has been targeting the 6 percent of the local population that’s underemployed. It’s promoting a community college program in Des Moines that will train people, often at no charge, for jobs in advanced manufacturing. Staffers have been pushing it at local food banks and through local faith leaders, hoping to absorb any labor market slack.
Some companies are trying to snap up workers before they hit the job market. At Iowa State’s College of Engineering, internship postings by Ames companies rose 20 percent in 2017, far exceeding the 2 percent increase in postings overall, says Mullaney.
A collection of modern buildings perched in the middle of a former cornfield abutting the campus is a freshly built monument to employers’ growing desperation. Workiva Inc., a software company that’s referred to locally as the “Google of the Midwest,” expanded its presence in the research park in 2014, and John Deere & Co. opened a “strategic technology office” last year.
The lobby of Vermeer Corp.’s two-year-old office, where 3D-printed art displays hang on the wall opposite minimalist lounge chairs, looks more like a trendy hotel than the outpost of a manufacturer of heavy machinery for the agriculture, mining, and construction industries. Vermeer’s headquarters are more than an hour’s drive away, in Pella, Iowa, but the company enlarged its operation here in part because managers wanted to keep in touch with summer interns, who were getting recruited to other companies amid intense demand. “If we want the top talent, we have to be competitive,” says Sara Hunter, whose job is to build relationships between Vermeer and the university, while strolling through a massive warehouse where students can come to design test equipment. “That pipeline is key.” —Jeanna Smialek
Population figures as of July 1, 2016; Unemployment rates as of December 2017; Average wages as of 3Q 2017; Sources: Census Bureau, Bureau of Labor Statistics, Federal Reserve Bank of St. Louis
In towns where workers are scarce, employers are boosting pay and perks and stepping up recruiting—all while trying to avoid raising prices.
Portland, Maine’s historic district. PHOTOGRAPHER: GREGORY HALPERN FOR BLOOMBERG BUSINESSWEEK
By and March 15, 2018, 8:00 PM GMT+11
What will happen when the U.S. unemployment rate falls below 4 percent, which is expected to occur by this summer? One way to tell is to look at cities where joblessness is already lower than that. Bloomberg News reporters traveled to Iowa, Georgia, and Maine. What they saw there is encouraging. They discovered that employers have found ways to cope with tight labor markets and still make money. Businesses have pulled in workers from the sidelines—including retirees, immigrants, and the homeless—and retooled processes to use less labor. Some have raised pay considerably for certain jobs, but so far there are no signs of an overall wage explosion. That should embolden those at the Federal Reserve who want to raise interest rates slowly to give growth a chance.
Portland, Maine: Making Do With Fewer Workers
Population: 66,937
Unemployment rate: 1.8%
Average weekly wages: $924
From polished sea-salt caramel balls to truffles packaged with hand-tied bows, the treats on sale at Wilbur’s of Maine Chocolate Confections in Freeport exude artisanal charm. While that’s a source of pride for owner Andrew Wilbur, whose parents started the business, he’s staring down a dilemma. Manufacturing workers are hard to come by in Freeport, which is 15 miles north of Portland and part of its statistical area. At 1.8 percent, the unemployment rate is the third-lowest in the country. “It’s made me think, Do I go to more mechanization?” Wilbur says from inside his production plant, where three employees are making candy in what look like mini cement mixers.
Employees at Wilbur’s of Maine Chocolate Confections in Freeport.PHOTOGRAPHER: GREGORY HALPERN FOR BLOOMBERG BUSINESSWEEK
Wilbur has raised wages for his 40 employees by more than 20 percent over the past three years, but he’s passed hardly any of his costs onto consumers. Business at his three brick-and-mortar outlets is already unchanged or down, and he would have lost online and wholesale customers if he’d raised prices substantially, he says.
It takes a full year for these employees to get up to speed and five for them to hit what Wilbur, without a hint of irony, calls “the sweet spot.” With inexperienced workers starting at $12 to $14 an hour, onboarding is becoming a major expense. Lowering his voice a little, Wilbur admits that he’s changed some of his packaging to make it less labor-intensive, including doing away with hand-applied labels.
Shipwreck & Cargo, a souvenir shop in downtown Portland that stocks items such as lobster-printed boxers and Maine blueberry tea, staffed its floor with only two sales assistants during the busy summer season instead of the usual three. The supply of workers has dried up just as the tourism industry is on an upswing, says store manager Jennifer Smith. “You want the right people, standing and smiling in front,” says Smith, who adds that the applicant pool has gotten smaller and less qualified in the five years she’s been running the shop.
The leisure and hospitality sector is the backbone of the local economy, but professional and business services have been engines of growth in recent years. Weekly wages in the Portland region have been moving up gradually, climbing in line with the national average through the first three quarters of 2017, the latest figures show. Inflation in the Northeast has been running below 2 percent.
One big reason employers are struggling to fill slots is that Maine’s population growth has leveled off. The state has the highest median age in the country at 44. “Last year, I was unable to get how many people I needed. I was probably short one and a half people,” says Tammara Croman, the manager of Portland’s Pomegranate Inn, whose eight guest rooms are outfitted with exuberant floral wallpapers and works by local artists. She says the operation ran at full capacity last summer, though with too-few housekeepers, it wasn’t able to accommodate as many early check-ins. “We end up having to hire people who we wouldn’t normally,” says Croman, who’s already put out feelers for the summer.
Applicants with no relevant experience are asked to come in for three-week trials, which gives Croman a chance to see if they’re cut out for the work—a mix of housekeeping and customer service. “It allows you to see the person’s work ethic, if they’re showing up on time, if they’re doing a good job,” she says.
The workforce challenges have been “top of mind for a while, and I don’t know if we see an end in sight,” says Quincy Hentzel, head of the Portland Regional Chamber of Commerce. That said, it isn’t all bad. “Businesses are extremely appreciative of their good employees and working really hard on retention,” she says. “That’s wonderful.”
A tight labor market also means that employees can afford to be picky. At Wilbur’s chocolate shop, two store managers left last year because they had better prospects in administrative work. While the business managed to hire replacements, mounting payroll costs are weighing on profit margins. Pointing to a large, hand-painted chocolate Easter bunny in his factory, Wilbur shakes his head. “We probably make a lot of people happy,” he says, “but I’m not sure that we cover the bills.” —Jeanna Smialek
Marietta, Georgia: Casting a Wider Net
Population: 60,941
Unemployment rate: 3.7%
Average weekly wages: $1,139
Lanre Bakare, a 36-year-old Nigerian immigrant, was homeless and had little marketable work experience when he was accepted into a training program run by CobbWorks Inc., a federally funded nonprofit that matches workers and businesses in the construction, logistics, information technology, and health-care fields. Now he earns $40,000 annually as an analyst managing vendors and supplies at residential construction sites in Cobb County, Ga., and the surrounding area. Eleven months into the job, Bakare still marvels at his salaried status and is looking forward to that most dreaded of employment rituals: the performance review. “I’m really excited,” he says. “We’re going to talk about if they are going to increase my job, what are my possibilities.”
Lanre Bakare.PHOTOGRAPHER: JOHNATHON KELSO FOR BLOOMBERG BUSINESSWEEK
CobbWorks has been around since 2000 but has recently expanded its outreach, training people with spotty work histories or criminal backgrounds who employers wouldn’t have considered a few years ago. Companies can no longer afford to be as picky. Unemployment in Cobb County, whose seat is Marietta, a city of 61,000 about 20 miles northwest of downtown Atlanta, was 3.7 percent in December. Weekly wages in the area rose more slowly than the national average through the first three quarters of 2017, the latest figures show. Inflation, meanwhile, has been moving up relatively quickly in the Atlanta area, climbing 3.3 percent in February compared with the nation’s 2.2 percent.
Marietta’s biggest employer, hospital network WellStar Health System, says it’s not feeling the labor crunch because of a decade-long campaign to ensure its pay and benefits are competitive. Attrition at WellStar is below the national average for the sector, according to spokesman Keith Bowermaster. The city’s No. 2 employer, Lockheed Martin Corp., is relatively insulated from local labor trends because the market for aerospace engineering work is national.
But some smaller businesses in the area are scrambling. That’s particularly true in the Cobb Galleria and adjacent Cumberland Mall areas, a few miles south on I-75, where office buildings, hotels, stores, restaurants, and a new ballpark for the Atlanta Braves compete for workers. “We’ve had fast-food restaurants offering bonuses,” says Roger Tutterow, an economist at Kennesaw State University. He’s also seen signs that labor shortages are constraining certain industries, noting that the number of building permits issued last year was half what it was during the boom that preceded the housing bust, even though demand for new homes is running high.
Several Marietta companies report they’re improving benefits to hang on to employees and attract new ones. InfoMart Inc., a 137-person operation that performs background screenings for companies, began paying 100 percent of its employees’ health insurance premiums this year, up from 75 percent. It also rehabbed its office space to make it more “collaborative-looking,” says Senior Vice President Tim Gordon, who’s especially keen to attract millennials. InfoMart also allows its tech employees to work from home four out of five days a week.
Paul Lubertazzi.PHOTOGRAPHER: JOHNATHON KELSO FOR BLOOMBERG BUSINESSWEEK
Just outside the city limits, Gas South LLC, a natural gas retailer, raised its minimum wage to $15 an hour in late 2016 and now offers every employee—including those in its call center—a one-month paid sabbatical every five years on top of regular vacation time. It also pays its workers’ health insurance premiums and has equipped its call center employees so they can work from home. “We did some research into the cost of living and discovered that some of our people were really struggling,” says Chief Executive Officer Kevin Greiner. “With more money comes less stress. It helps us recruit and keep quality people.”
Paul’s Pot Pies is one of several storefronts lining Marietta’s well-appointed town square, which is outfitted with a gazebo, flowering trees, and boxes of blooming tulips, daffodils, and hyacinths. Its proprietor, Paul Lubertazzi, added $2 to the hourly pay of his minimum-wage workers eight months ago because he says he was afraid he’d lose them to other businesses. A pickup in sales of his frozen pastry pies, which cost $9 to $25, helped pay for the increase. But the cost of many of his ingredients, particularly vegetables, has risen too, which is why he plans to raise prices sometime this year: “I wanted to do it in January, but I’m holding off,” Lubertazzi says. “People do complain.” —Margaret Newkirk
Ames, Iowa: Building an Employee Pipeline
Population: 66,191
Unemployment rate: 1.5%
Average weekly wages: $833
“Join our team,” beckons the chyron in foot-tall red lettering outside the Taco John’s in Ames, Iowa. Across the street, a cactus-shaped sign at TacoTime declares that it, too, is hiring.
“Help wanted” signs are a common sight in Ames, which boasts the lowest unemployment rate in the nation—1.5 percent. From behind the beige laminate cashier counter of the Taco John’s, manager Justin Cornelius says this outpost of the Tex-Mex chain raised pay by 50¢ an hour in the fall. Still, turnover has increased, because workers have more options than they did a few years ago. Cornelius himself is a fill-in; he’s been on loan from a Des Moines restaurant since December. Usually, it takes four to six weeks to find a permanent manager. In Ames it’s been 10 weeks and counting.
Two miles north, at O’Donnell Ace Hardware, manager Tausha Tjernagel says her store has lifted wages every six months for the past year and a half. She’s now starting full-time workers with no experience at $11 an hour, well above the state’s $7.25 minimum. Even so, Tjernagel has had to ask employees to be flexible to fill holes in the schedule. Older part-timers who’d prefer a weekday morning shift are spending their Saturdays ringing up lawn fertilizer or stocking shelves with hammers and nails. But that’s better than letting checkout lines get longer, which is what several town residents say is happening at other retailers. Says Tjernagel: “We make it so that it’s not noticeable to our customers.”
Tausha Tjernagel.PHOTOGRAPHER: WALKER PICKERING FOR BLOOMBERG BUSINESSWEEK
Wait times aren’t the only pain a supercharged labor market is causing in this city of 66,000, home to the world’s largest gnome statue and Iowa State University. The school is Ames’s largest employer, as well as a magnet for companies across the Midwest that are fighting the region’s brain drain. Locals say prices haven’t been picking up rapidly, and inflation in the Midwest as a whole continues to run below 2 percent. Average weekly wages grew slightly faster than national wages through the first three quarters of 2017—though a separate data series on hourly earnings showed a pop in Ames in January, which is early evidence that faster gains may be materializing.
There are other signs the local economy is running hot. A home price index shot up 7 percent in the fourth quarter of 2017. Kellie Mullaney, a career development adviser at Iowa State, recalls that when she and her husband bought their home three years ago, listings sold in a day: “It seemed like the price range we were in, everyone else was in, too.”
To get around the housing constraint, businesses are trying to make it easier for workers to commute in from elsewhere. Mary Greeley Medical Center—one of Ames’s largest employers—is working on setting up a ride-sharing program for employees who live in nearby Story City or Des Moines, where the unemployment rate is 2 percentage points higher.
The Ames Chamber of Commerce has been targeting the 6 percent of the local population that’s underemployed. It’s promoting a community college program in Des Moines that will train people, often at no charge, for jobs in advanced manufacturing. Staffers have been pushing it at local food banks and through local faith leaders, hoping to absorb any labor market slack.
Some companies are trying to snap up workers before they hit the job market. At Iowa State’s College of Engineering, internship postings by Ames companies rose 20 percent in 2017, far exceeding the 2 percent increase in postings overall, says Mullaney.
A collection of modern buildings perched in the middle of a former cornfield abutting the campus is a freshly built monument to employers’ growing desperation. Workiva Inc., a software company that’s referred to locally as the “Google of the Midwest,” expanded its presence in the research park in 2014, and John Deere & Co. opened a “strategic technology office” last year.
The lobby of Vermeer Corp.’s two-year-old office, where 3D-printed art displays hang on the wall opposite minimalist lounge chairs, looks more like a trendy hotel than the outpost of a manufacturer of heavy machinery for the agriculture, mining, and construction industries. Vermeer’s headquarters are more than an hour’s drive away, in Pella, Iowa, but the company enlarged its operation here in part because managers wanted to keep in touch with summer interns, who were getting recruited to other companies amid intense demand. “If we want the top talent, we have to be competitive,” says Sara Hunter, whose job is to build relationships between Vermeer and the university, while strolling through a massive warehouse where students can come to design test equipment. “That pipeline is key.” —Jeanna Smialek
Population figures as of July 1, 2016; Unemployment rates as of December 2017; Average wages as of 3Q 2017; Sources: Census Bureau, Bureau of Labor Statistics, Federal Reserve Bank of St. Louis
Facebook's value plunges $37 billion on data controversy - CNN Money
Facebook's value plunges $37 billion on data controversy
by Chris Isidore @CNNMoney
March 20, 2018: 2:25 AM ET
Facebook shares took a big hit Monday, shaving about $37 billion off the value of the company.
The stock tumbled about 7% Monday on news that data firm Cambridge Analytica, which had ties to Trump's campaign, reportedly accessed information from about 50 million Facebook users. This is the stock's biggest drop, on a percentage basis, in four years.
Even after Monday's plunge, Facebook is still one of the nation's most valuable companies, with a market cap of about $500 billion. It's behind only Apple (AAPL), Google parent Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT) and about even with Berkshire Hathaway (BRKA).
Mark Zuckerberg holds about 400 million shares of Facebook (FB), and his net worth plunged by about $5 billion Monday afternoon. Shares closed the day down $12.53.
Of course even with the single-day drop the value of his holdings, Zuckerberg still owns about $70 billion worth of Facebook shares. That's enough to make him the sixth richest man in the world, according to Forbes' real-time billionaire tracker.
To put the dollar drop in context though, when Zuckerberg took Facebook public in 2012, the value of Zuckerberg's Facebook shares was about $19 billion. Facebook posted a drop of greater than 7% in a single day on seven different occasions in its early days of trading. But this is the biggest single-day slide ever in terms of dollar value for the stock.
The stock fell Monday after the Cambridge Analytica controversy prompted some outside observers to suggest that Facebooks should be more regulated. Some users have vowed to stop using Facebook and there are also questions about what the company will have to do to restore public trust in Facebook's commitment to privacy and data protection.
-- CNN's Paul La Monica, Patrick Gillespie, Matt Egan and Dylan Byers contributed to this report
by Chris Isidore @CNNMoney
March 20, 2018: 2:25 AM ET
Facebook shares took a big hit Monday, shaving about $37 billion off the value of the company.
The stock tumbled about 7% Monday on news that data firm Cambridge Analytica, which had ties to Trump's campaign, reportedly accessed information from about 50 million Facebook users. This is the stock's biggest drop, on a percentage basis, in four years.
Even after Monday's plunge, Facebook is still one of the nation's most valuable companies, with a market cap of about $500 billion. It's behind only Apple (AAPL), Google parent Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT) and about even with Berkshire Hathaway (BRKA).
Mark Zuckerberg holds about 400 million shares of Facebook (FB), and his net worth plunged by about $5 billion Monday afternoon. Shares closed the day down $12.53.
Of course even with the single-day drop the value of his holdings, Zuckerberg still owns about $70 billion worth of Facebook shares. That's enough to make him the sixth richest man in the world, according to Forbes' real-time billionaire tracker.
To put the dollar drop in context though, when Zuckerberg took Facebook public in 2012, the value of Zuckerberg's Facebook shares was about $19 billion. Facebook posted a drop of greater than 7% in a single day on seven different occasions in its early days of trading. But this is the biggest single-day slide ever in terms of dollar value for the stock.
The stock fell Monday after the Cambridge Analytica controversy prompted some outside observers to suggest that Facebooks should be more regulated. Some users have vowed to stop using Facebook and there are also questions about what the company will have to do to restore public trust in Facebook's commitment to privacy and data protection.
-- CNN's Paul La Monica, Patrick Gillespie, Matt Egan and Dylan Byers contributed to this report
CAMBRIDGE ANALYTICA: FIRM OFFERED TO SECRETLY FILM POLITICIANS IN COMPROMISING SITUATIONS, INVESTIGATION FINDS - Independent
20/3/2018
INDYTECH
CAMBRIDGE ANALYTICA: FIRM OFFERED TO SECRETLY FILM POLITICIANS IN COMPROMISING SITUATIONS, INVESTIGATION FINDS
Alexander Nix, chief executive of Cambridge Analytica (right) and Mark Turnbull, the managing director of Cambridge Analytica Political Global (left) / Channel 4 News
Chief executive offers to 'send some girls around to candidate’s house', adding Ukrainian girls 'are very beautiful, I find that works very well'
HARRIET AGERHOLM
@HarrietAgerholm
Senior executives at troubled data company firm Cambridge Analytica have been secretly filmed saying they can entrap politicians in compromising situations, a new investigation claims.
Chief executive Alexander Nix said the company could offer bribes and the services of sex workers to officials and use evidence of the interactions as leverage, according to the footage.
Cambridge Analytica is credited with helping Donald Trump win the US presidency and was employed by the Leave campaign during the UK’s referendum on EU membership.
Cambridge Analytica: Chris Wylie tells Channel 4 News data for 50 million Facebook profiles was obtained
The undercover footage, to be broadcast on Channel 4 on Monday night, comes after The Observer reported the firm illegally harvested 50 million Facebook profiles to target certain voters.
The films provide further insight into the apparent extent of the company’s power and how much sway over political systems the group seemed to believe they had.
When asked about finding damaging material on political opponents, Mr Nix was filmed saying the company could “send some girls around to the candidate’s house”, adding that Ukrainian girls “are very beautiful, I find that works very well”.
In another exchange in the footage, Mr Nix described how the company could bribe politicians and use evidence of the exchange against them. “We’ll offer a large amount of money to the candidate, to finance his campaign in exchange for land for instance, we’ll have the whole thing recorded, we’ll blank out the face of our guy and we post it on the internet,” he said.
The conversations were secretly filmed at a series of meetings at London hotels over four months, between November 2017 and January 2018, where an undercover reporter for Channel 4 News posed as a fixer for a wealthy client hoping to get candidates elected in Sri Lanka.
Facebook stock loses $25bn amid huge ‘data breach’ scandal
It has been alleged Mr Nix misled the Digital, Culture, Media and Sport Committee, which is now asking him to provide further information. He denies the claims.
Also in attendance at the meetings were Mark Turnbull, the managing director of Cambridge Analytica Political Global, and the company’s chief data officer, Dr Alex Tayler.
Mr Turnbull described how Cambridge Analytica could gather damaging material on opponents and discreetly post it on social media and the internet.
He said: “... we just put information into the bloodstream of the internet, and then, and then watch it grow, give it a little push every now and again… like a remote control. It has to happen without anyone thinking, ‘that’s propaganda’, because the moment you think ‘that’s propaganda’, the next question is, ‘who’s put that out?’”.
The executives were also filmed saying Cambridge Analytica and its parent company Strategic Communications Laboratories had worked on more than two hundred elections across the world, including in Nigeria, Kenya, the Czech Republic, India and Argentina.
On Monday, the Information Commissioner's Office announced it was seeking a warrant to raid Cambridge Analytica and seize the company's servers.
A Cambridge Analytica spokesman said: “We entirely refute any allegation that Cambridge Analytica or any of its affiliates use entrapment, bribes, or so-called ‘honey-traps’ for any purpose whatsoever.
“Cambridge Analytica does not use untrue material for any purpose.”
They also said opposition research and intelligence gathering were common and legitimate practices.
Donald Trump hires lawyer who accused FBI and Justice department of 'plot' to frame president - Independent
20/3/2018
Donald Trump hires lawyer who accused FBI and Justice department of 'plot' to frame president
I 'have full confidence that he will be a great asset in our representation of the President', says other Trump attorney Jay Sekulow
Alexandra Wilts Washington DC
Joseph E diGenova during a television interview in March 2016 C-Span
Donald Trump has hired a lawyer who accuses the FBI and Justice Department of trying to frame the president with false charges of colluding with the Russian government.
Joseph diGenova, a Washington lawyer and former US attorney for the District of Columbia, will join the legal team later this week, according to attorney Jay Sekulow, one of the president’s other personal lawyers.
“I have worked with Joe for many years and have full confidence that he will be a great asset in our representation of the President,” Mr Sekulow told the New York Times.
Ex-Trump aide says Mueller interview would be ‘fraught with peril’
Mr diGenova has pushed the theory that the Russia investigation is all just a “brazen plot” to frame Mr Trump.
“There was a brazen plot to illegally exonerate Hillary Clinton and, if she didn’t win the election, to then frame Donald Trump with a falsely created crime,” he said on Fox News in January. “Make no mistake about it: A group of FBI and DOJ people were trying to frame Donald Trump of a falsely created crime.”
Little evidence has emerged to support Mr diGenova’s theory.
The addition of Mr diGenova to Mr Trump’s legal team is another possible indicator that the President is working to discredit Special Counsel Robert Mueller’s probe into Russia’s meddling in the 2016 presidential election.
Mr Mueller is attempting to figure out if Mr Trump’s campaign advisers coordinated with the Kremlin.
Robert Mueller has former FBI chief’s memos of interactions with Trump
Mueller reportedly issues subpoena to Trump Organization
Donald Trump ‘discussed Robert Mueller’s investigation with key witnes
Over the weekend, Mr Trump criticised the Russia investigation on Twitter, saying that it should not have been started because there was no collusion between his campaign and Russia.
“It was based on fraudulent activities and a Fake Dossier paid for by Crooked Hillary and the [Democratic National Committee], and improperly used in [Foreign Intelligence Surveillance Act] COURT for surveillance of my campaign. WITCH HUNT!” Mr Trump tweeted, questioning the legitimacy of the investigation.
Donald Trump hires lawyer who accused FBI and Justice department of 'plot' to frame president
I 'have full confidence that he will be a great asset in our representation of the President', says other Trump attorney Jay Sekulow
Alexandra Wilts Washington DC
Joseph E diGenova during a television interview in March 2016 C-Span
Donald Trump has hired a lawyer who accuses the FBI and Justice Department of trying to frame the president with false charges of colluding with the Russian government.
Joseph diGenova, a Washington lawyer and former US attorney for the District of Columbia, will join the legal team later this week, according to attorney Jay Sekulow, one of the president’s other personal lawyers.
“I have worked with Joe for many years and have full confidence that he will be a great asset in our representation of the President,” Mr Sekulow told the New York Times.
Ex-Trump aide says Mueller interview would be ‘fraught with peril’
Mr diGenova has pushed the theory that the Russia investigation is all just a “brazen plot” to frame Mr Trump.
“There was a brazen plot to illegally exonerate Hillary Clinton and, if she didn’t win the election, to then frame Donald Trump with a falsely created crime,” he said on Fox News in January. “Make no mistake about it: A group of FBI and DOJ people were trying to frame Donald Trump of a falsely created crime.”
Little evidence has emerged to support Mr diGenova’s theory.
The addition of Mr diGenova to Mr Trump’s legal team is another possible indicator that the President is working to discredit Special Counsel Robert Mueller’s probe into Russia’s meddling in the 2016 presidential election.
Mr Mueller is attempting to figure out if Mr Trump’s campaign advisers coordinated with the Kremlin.
Robert Mueller has former FBI chief’s memos of interactions with Trump
Mueller reportedly issues subpoena to Trump Organization
Donald Trump ‘discussed Robert Mueller’s investigation with key witnes
Over the weekend, Mr Trump criticised the Russia investigation on Twitter, saying that it should not have been started because there was no collusion between his campaign and Russia.
“It was based on fraudulent activities and a Fake Dossier paid for by Crooked Hillary and the [Democratic National Committee], and improperly used in [Foreign Intelligence Surveillance Act] COURT for surveillance of my campaign. WITCH HUNT!” Mr Trump tweeted, questioning the legitimacy of the investigation.
Cambridge Analytica: Warrant sought to inspect company - BBC News
20/3/2018
Cambridge Analytica: Warrant sought to inspect company
Alexander Nix, CEO of Cambridge Analytica was filmed by undercover reporters for Channel 4 News
The UK's Information Commissioner says she will seek a warrant to look at the databases and servers used by British firm Cambridge Analytica.
The London-based company is accused of using the personal data of 50 million Facebook members to influence the US presidential election in 2016.
Its executives have also been filmed by Channel 4 News suggesting it could use honey traps and potentially bribery to discredit politicians.
The company denies any wrongdoing.
Fresh allegations
On Monday, Channel 4 News broadcast hidden camera footage in which Cambridge Analytica chief executive Alexander Nix appears to suggest tactics his company could use to discredit politicians online.
In the footage, asked what "deep digging" could be done, Mr Nix told an undercover reporter: "Oh, we do a lot more than that."
He suggested one way to target an individual was to "offer them a deal that's too good to be true and make sure that's video recorded".
He also said he could "send some girls around to the candidate's house..." adding that Ukrainian girls "are very beautiful, I find that works very well".
Mr Nix continued: "I'm just giving you examples of what can be done and what has been done."
Cambridge Analytica: The story so far
Facebook data sharing - time to act?
Channel 4 News said its reporter had posed as a fixer for a wealthy client hoping to get a political candidate elected in Sri Lanka.
However, Cambridge Analytica said the report had "grossly misrepresented" the conversations caught on camera.
"In playing along with this line of conversation, and partly to spare our 'client' from embarrassment, we entertained a series of ludicrous hypothetical scenarios," the company said in a statement.
"Cambridge Analytica does not condone or engage in entrapment, bribes or so-called 'honeytraps'," it said.
Media captionMr Nix spoke to BBC Newsnight before the Channel 4 report was aired on Monday night. He declined to be interviewed after the undercover footage was broadcast
Mr Nix told the BBC's Newsnight programme that he regarded the report as a "misrepresentation of the facts" and said he felt the firm had been "deliberately entrapped".
UK Information Commissioner Elizabeth Denham is investigating Cambridge Analytica over claims it used personal data to influence the US presidential election.
Christopher Wylie, who worked with the company, claimed it amassed the data of millions of people through a personality quiz on Facebook that was created by an academic.
Investigation
Ms Denham demanded access to the firm's databases and servers after it missed her Monday deadline.
"I'm not accepting their response so therefore I'll be applying to the court for a warrant," she told Channel 4.
She said she wanted to understand how data was "processed or deleted by Cambridge Analytica".
'Violation'
Cambridge Analytica insists it followed the correct procedures in obtaining and using data, but it was suspended from Facebook last week.
Facebook, meanwhile, will hold an open meeting with its employees later to discuss the matter, tech news website The Verge is reporting.
Facebook said it has hired its own digital forensic team to audit Cambridge Analytica.
"This is part of a comprehensive internal and external review that we are conducting to determine the accuracy of the claims that the Facebook data in question still exists," the firm said.
Facebook's value falls $37bn amid backlash
Zuckerberg pressed to face breach concerns
"If this data still exists, it would be a grave violation of Facebook's policies and an unacceptable violation of trust and the commitments these groups made."
Facebook said Aleksandr Kogan, the creator of the personality app from which the data had been harvested, had agreed to be audited, but Mr Wylie - who made the claims about the way the data was gathered and used - had declined.
How to protect your data on Facebook
There are a few things to be aware of if you want to restrict who has access to your data.
Keep an eye on apps, especially those which require you to log in using your Facebook account - they often have a very wide range of permissions and many are specifically designed to pick up your data
Use an ad blocker to limit advertising
Look at your Facebook security settings and make sure you are aware of what is enabled. Check the individual app settings to see whether you have given them permission to view your friends as well as yourself.
You can download a copy of the data Facebook holds on you, although it is not comprehensive. There is a download button at the bottom of the General Account Settings tab. However bear in mind that your data may be less secure sitting on your laptop than it is on Facebook's servers, if your device is hacked.
You can of course, simply leave Facebook, but the campaign group Privacy International warns that privacy concerns extend beyond the social network.
"The current focus is on protecting your data being exploited by third parties, but your data is being exploited all the time," said a spokeswoman.
"Many apps on your phone will have permission to access location data, your entire phone book and so on. It is just the tip of the iceberg."
Cambridge Analytica: Warrant sought to inspect company
Alexander Nix, CEO of Cambridge Analytica was filmed by undercover reporters for Channel 4 News
The UK's Information Commissioner says she will seek a warrant to look at the databases and servers used by British firm Cambridge Analytica.
The London-based company is accused of using the personal data of 50 million Facebook members to influence the US presidential election in 2016.
Its executives have also been filmed by Channel 4 News suggesting it could use honey traps and potentially bribery to discredit politicians.
The company denies any wrongdoing.
Fresh allegations
On Monday, Channel 4 News broadcast hidden camera footage in which Cambridge Analytica chief executive Alexander Nix appears to suggest tactics his company could use to discredit politicians online.
In the footage, asked what "deep digging" could be done, Mr Nix told an undercover reporter: "Oh, we do a lot more than that."
He suggested one way to target an individual was to "offer them a deal that's too good to be true and make sure that's video recorded".
He also said he could "send some girls around to the candidate's house..." adding that Ukrainian girls "are very beautiful, I find that works very well".
Mr Nix continued: "I'm just giving you examples of what can be done and what has been done."
Cambridge Analytica: The story so far
Facebook data sharing - time to act?
Channel 4 News said its reporter had posed as a fixer for a wealthy client hoping to get a political candidate elected in Sri Lanka.
However, Cambridge Analytica said the report had "grossly misrepresented" the conversations caught on camera.
"In playing along with this line of conversation, and partly to spare our 'client' from embarrassment, we entertained a series of ludicrous hypothetical scenarios," the company said in a statement.
"Cambridge Analytica does not condone or engage in entrapment, bribes or so-called 'honeytraps'," it said.
Media captionMr Nix spoke to BBC Newsnight before the Channel 4 report was aired on Monday night. He declined to be interviewed after the undercover footage was broadcast
Mr Nix told the BBC's Newsnight programme that he regarded the report as a "misrepresentation of the facts" and said he felt the firm had been "deliberately entrapped".
UK Information Commissioner Elizabeth Denham is investigating Cambridge Analytica over claims it used personal data to influence the US presidential election.
Christopher Wylie, who worked with the company, claimed it amassed the data of millions of people through a personality quiz on Facebook that was created by an academic.
Investigation
Ms Denham demanded access to the firm's databases and servers after it missed her Monday deadline.
"I'm not accepting their response so therefore I'll be applying to the court for a warrant," she told Channel 4.
She said she wanted to understand how data was "processed or deleted by Cambridge Analytica".
'Violation'
Cambridge Analytica insists it followed the correct procedures in obtaining and using data, but it was suspended from Facebook last week.
Facebook, meanwhile, will hold an open meeting with its employees later to discuss the matter, tech news website The Verge is reporting.
Facebook said it has hired its own digital forensic team to audit Cambridge Analytica.
"This is part of a comprehensive internal and external review that we are conducting to determine the accuracy of the claims that the Facebook data in question still exists," the firm said.
Facebook's value falls $37bn amid backlash
Zuckerberg pressed to face breach concerns
"If this data still exists, it would be a grave violation of Facebook's policies and an unacceptable violation of trust and the commitments these groups made."
Facebook said Aleksandr Kogan, the creator of the personality app from which the data had been harvested, had agreed to be audited, but Mr Wylie - who made the claims about the way the data was gathered and used - had declined.
How to protect your data on Facebook
There are a few things to be aware of if you want to restrict who has access to your data.
Keep an eye on apps, especially those which require you to log in using your Facebook account - they often have a very wide range of permissions and many are specifically designed to pick up your data
Use an ad blocker to limit advertising
Look at your Facebook security settings and make sure you are aware of what is enabled. Check the individual app settings to see whether you have given them permission to view your friends as well as yourself.
You can download a copy of the data Facebook holds on you, although it is not comprehensive. There is a download button at the bottom of the General Account Settings tab. However bear in mind that your data may be less secure sitting on your laptop than it is on Facebook's servers, if your device is hacked.
You can of course, simply leave Facebook, but the campaign group Privacy International warns that privacy concerns extend beyond the social network.
"The current focus is on protecting your data being exploited by third parties, but your data is being exploited all the time," said a spokeswoman.
"Many apps on your phone will have permission to access location data, your entire phone book and so on. It is just the tip of the iceberg."
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