Thursday, September 20, 2018
Tesla Says It Has Turned Over Documents to the Justice Department -
Tesla Says It Has Turned Over Documents to the Justice Department
Posted: 18 Sep 2018 01:34 PM PDT
(DETROIT) — Tesla Inc. has turned over documents to the U.S. Justice Department after statements by CEO Elon Musk about taking the company private, the electric car maker confirmed Tuesday.
The Palo Alto, California, company cooperated with the request and believes the matter should be resolved quickly once federal prosecutors review information they have received, according to a company statement.
News of a potential criminal investigation pushed Tesla stock down 5 percent in morning trading Tuesday, but the decline subsided a bit by early afternoon to 3.4 percent, at $284.89.
“We have not received a subpoena, a request for testimony, or any other formal process,” Tesla’s statement said.
Bloomberg News reported Tuesday morning that the Justice Department is running a criminal probe parallel to an investigation by the Securities and Exchange Commission. The news service cited two people familiar with the matter that it did not identify.
The Justice Department generally does not confirm or deny investigations, spokeswoman Nicole Navas Oxman in Washington said. The U.S. Attorney’s Office in San Francisco took the same stance.
Tesla said it was contacted by prosecutors after Musk tweeted last month while driving to the airport that funding was secured to take the company private. The announcement raised the stock price 11 percent in one day, but it has since fallen.
Later the company admitted that funding wasn’t lined up and eventually Musk abandoned the idea.
Short-sellers, who bet against the stock appreciating, complained that Musk’s announcement was done to manipulate the stock price and cost them money.
Stephen Crimmins, a former deputy chief of litigation for the SEC, said prosecutors probably are looking at Musk’s tweets to be cautious. “It automatically becomes so high profile that the government enforcers have to be particularly conscientious in taking a look at things,” he said.
Crimmins said Musk “speaks loosely,” but his conduct probably doesn’t rise to the criminal level. Prosecutors would have to prove Musk lied in order to move the stock price, which would be difficult, Crimmins said. Any loss to short-sellers would be for a short period and wouldn’t be worth the risk of Musk intentionally manipulating the stock price, Crimmins said.
The SEC likely would pursue a civil remedy that would include a provision that someone at Tesla review Musk’s tweets on corporate matters before they are sent out, he said.
'Least impressive sex I ever had': Stormy Daniels tells all about Trump in bombshell book The book, titled "Full Disclosure, -
'Least impressive sex I ever had': Stormy Daniels tells all about Trump in bombshell book
The book, titled "Full Disclosure," was obtained ahead of its Oct. 2 release by The Guardian newspaper.
by Adam Edelman / Sep.18.2018
Adult film actress/director Stormy Daniels attends the 2018 Adult Video News Awards in Las Vegas.Gabe Ginsberg / Getty Images file
Adult film star Stormy Daniels, who claims she had an affair with President Donald Trump more than a decade ago and is suing the president, described sex with the future commander in chief as "the least impressive sex I’d ever had" in a new book.
The book, titled "Full Disclosure," was obtained ahead of its Oct. 2 release by The Guardian newspaper. NBC News has not obtained the book.
"It may have been the least impressive sex I'd ever had, but clearly, he didn't share that opinion," she wrote, according to The Guardian.
Daniels had lingering remorse over the experience for years, writing that any time she'd see Trump on television, she'd think: "I had sex with that, I’d say to myself. Eech."
The White House had no immediate comment about the new book.
Victory for Stormy Daniels as Trump, Cohen give up on hush deal
SEP.11.201802:51
After the tryst with Daniels, Trump promised to put her on his "The Apprentice" reality show, Daniels writes in the book, according to The Guardian, and even indicated he would fix the results in her favor to have her last on the show.
"We'll figure out a way to get you the challenges beforehand," Daniels quoted Trump has having told her. "And we can devise your technique."
"He was going to have me cheat, and it was 100 percent his idea," she wrote, according to The Guardian.
Brett Kavanaugh's accuser Christine Blasey Ford is changing how society deals with sexual assault accusations
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Years later, when Trump would decide to run for president, Daniels repeatedly dismissed the idea he could win — until, of course, he eventually did.
"It will never happen, I would say," Daniels wrote. "He doesn’t even want to be president."
Daniels, whose real name is Stephanie Clifford, also describes Trump’s sex organs in graphic detail.
Daniels has suggested she had a one-time sexual encounter with Trump in a hotel room. She alleged in a civil lawsuit that she and Trump had an "intimate relationship" that lasted from summer 2006 "well into the year 2007" and which included meetings in Lake Tahoe and at the Beverly Hills Hotel. The White House denies Trump had an affair with her.
But Trump's private attorney, Michael Cohen, admitted in February he had paid her $130,000 — which she says was to buy her silence over the "intimate relationship." NBC News reported in April that Daniels is cooperating with federal investigators as part of their criminal investigation into Cohen.
In May, Trump said Daniels was paid to stop "false and extortionist accusations" she made about a sexual encounter with him. Trump has forcefully denied the affair. Daniels has filed two lawsuits against Trump, one to get out of a nondisclosure agreement she signed in October 2016 ahead of the November presidential election in exchange for the $130,000, and another for defamation.
Important news headlines - September 20, 2018 - NBC News
September 20, 2018
Important news headlines
Good Thursday morning. Here are some of the stories making news in Washington and politics today.
Judge Brett M. Kavanaugh during his confirmation hearing this month in Washington.
• The woman who accused Judge Brett Kavanaugh of sexual assault rejected the idea of a Senate hearing, saying it would not be a “good faith investigation.” [Read the story]
• Here’s the story of Christine Blasey Ford, the researcher and statistician who was reluctant to come forward with her allegation against Judge Kavanaugh. [Read the story]
• The accusation against the judge has scrambled the political calculations for 10 Democratic senators running for re-election in states won by President Trump. [Read the story]
• Mr. Trump’s pugilistic approach to trade and China could rupture relations for years to come. [Read the story]
• Kim Jong-un, North Korea’s leader, agreed to “permanently dismantle” key nuclear facilities in a bid to ease tensions with South Korea, but his offers stop short of denuclearization. [Read the story]
• President Andrzej Duda of Poland offered to host an American military base as a bulwark against Russia and even name it Fort Trump. Mr. Trump said Warsaw would have to pay billions to use his name.
• Mr. Trump excoriated his attorney general, the F.B.I., the special counsel and members of the intelligence community, citing conspiracy theories. [Read the story]
• While other presidents have treated natural disaster tours as dignified, even grave affairs, Mr. Trump has deployed humor and enthusiasm. [Read the story]
• A progressive group in Utah filed a federal complaint against Representative Mia Love, a Republican, over alleged campaign finance violations. [Read the story]
• A State Department report said that terrorist attacks and deaths declined in 2017 after a concerted push against the Islamic State, but that Al Qaeda and militant groups linked to Iran remain deadly.
Important news headlines
Good Thursday morning. Here are some of the stories making news in Washington and politics today.
Judge Brett M. Kavanaugh during his confirmation hearing this month in Washington.
• The woman who accused Judge Brett Kavanaugh of sexual assault rejected the idea of a Senate hearing, saying it would not be a “good faith investigation.” [Read the story]
• Here’s the story of Christine Blasey Ford, the researcher and statistician who was reluctant to come forward with her allegation against Judge Kavanaugh. [Read the story]
• The accusation against the judge has scrambled the political calculations for 10 Democratic senators running for re-election in states won by President Trump. [Read the story]
• Mr. Trump’s pugilistic approach to trade and China could rupture relations for years to come. [Read the story]
• Kim Jong-un, North Korea’s leader, agreed to “permanently dismantle” key nuclear facilities in a bid to ease tensions with South Korea, but his offers stop short of denuclearization. [Read the story]
• President Andrzej Duda of Poland offered to host an American military base as a bulwark against Russia and even name it Fort Trump. Mr. Trump said Warsaw would have to pay billions to use his name.
• Mr. Trump excoriated his attorney general, the F.B.I., the special counsel and members of the intelligence community, citing conspiracy theories. [Read the story]
• While other presidents have treated natural disaster tours as dignified, even grave affairs, Mr. Trump has deployed humor and enthusiasm. [Read the story]
• A progressive group in Utah filed a federal complaint against Representative Mia Love, a Republican, over alleged campaign finance violations. [Read the story]
• A State Department report said that terrorist attacks and deaths declined in 2017 after a concerted push against the Islamic State, but that Al Qaeda and militant groups linked to Iran remain deadly.
Kim Jong Un hugs Moon Jae-in at start of Korean summit - MSNBC MNews
Kim Jong Un hugs Moon Jae-in at start of Korean summit
Moon Jae-in said he intends to push for "irreversible, permanent peace" and for better dialogue between Pyongyang and Washington.
by Associated Press / Sep.18.2018
Hugs, praise and high expectations as Korean leaders meet in Pyongyang
SEP.18.201801:17
PYONGYANG, North Korea — South Korean President Moon Jae-in arrived in North Korea on Tuesday for his third and possibly most challenging summit yet with leader Kim Jong Un.
Moon hopes to break an impasse in talks with the United States over the North's denuclearization and breathe energy into his own efforts to expand and improve relations between the Koreas.
In what are by now familiar images of the two Korean leaders hugging and exchanging warm smiles, Kim greeted Moon at Pyongyang's airport. They have met twice this year at the border village of Panmunjom, but Moon's visit is the first by a South Korean leader to the North Korean capital in 11 years.
WORLD NEWS
Behind the scenes, Trump’s team is about to get tough with North Korea
Traveling with Moon are business tycoons including Samsung scion Lee Jae-yong, underscoring Moon's hopes to expand cross-border business projects. Currently, all major joint projects between the Koreas are stalled because of U.S.-led sanctions.
Moon was expected to have talks with Kim on Tuesday and Wednesday, according to Moon's chief of staff. Moon and Kim were also expected to jointly announce the results of their talks on Wednesday if things go smoothly. Moon is to return to Seoul on Thursday.
Moon and his wife, Kim Jung-sook, were greeted by Kim and his wife, Ri Sol Ju. The North Korean leader then led his guests to meet some of his senior officials, and they exchanged mutual greetings with Moon's delegation.
Image: North Korean leader Kim Jong Un and his wife Ri Sol Ju greet South Korean President Moon Jae-in and First Lady Kim Jung-sookNorth Korean leader Kim Jong Un and his wife Ri Sol Ju greet South Korean President Moon Jae-in and first lady Kim Jung-sook at Pyongyang Sunan International Airport on Tuesday.Pyeongyang press corps
Thousands of North Koreans cheered and waved flower bouquets and national and unification flags. North Korean soldiers and naval troops quick-marched into position to welcome Moon, and the two leaders inspected the honor guard, according to South Korean media pool footage from the site. A signboard said, "We ardently welcome President Moon Jae-in."
As Moon arrived, the North's main newspaper said the United States was responsible for the lack of progress in denuclearization talks.
"The U.S. is totally to blame for the deadlocked DPRK-U.S. negotiations," the Rodong Sinmun said in an editorial. It said Washington is "stubbornly insisting" the North dismantle its nuclear weapons first, an approach "which was rejected in the past DPRK-U.S. dialogues," while failing to show its will for confidence-building "including the declaration of the end of war which it had already pledged."
State-run media reported Moon was to begin a visit, but gave few details. Security was tight all morning. Requests by The Associated Press to go to the airport or to drive around the city were denied.
Moon is under intense pressure from Washington to advance the denuclearization process. Before his departure he said he intends to push for "irreversible, permanent peace" and for better dialogue between Pyongyang and Washington
Kavanaugh allegations add yet another crisis to a besieged White House
"This summit would be very meaningful if it yielded a resumption of North Korea-U.S. talks," Moon said Tuesday morning just before his departure. "It's very important for South and North Korea to meet frequently, and we are turning to a phase where we can meet anytime we want."
But his chief of staff tried to lower expectations of major progress on the future of Kim's nuclear arsenal.
Kim, meanwhile, is seemingly riding a wave of success.
North Korea holds major military parade to mark 70th anniversary
SEP.09.201802:46
The North just completed an elaborate celebration replete with a military parade and huge rallies across the country to mark North Korea's 70th anniversary. China, signaling its support for Kim's recent diplomatic moves, sent its third-highest party official to those festivities. That's important because China is the North's biggest economic partner and is an important political counterbalance to the United States.
WORLD NEWS
China jumpstarts trade with North Korea, undercutting the Trump admin
North Korea maintains that it has developed its nuclear weapons to the point that it can now defend itself against a potential U.S. attack, and can now shift its focus to economic development and improved ties with the South. While signaling his willingness to talk with Washington, Kim's strategy has been to try to elbow the U.S. away from Seoul so that the two Koreas can take the lead in deciding how to bring peace and stability to their peninsula.
Talks between the United States and North Korea, which Moon brokered through his April and May summits with Kim, have stalled since Kim's meeting with President Donald Trump in Singapore in June.
NBC News exclusive: North Korea producing new nuclear weapons
SEP.11.201801:15
North Korea has taken some steps, like dismantling its nuclear and rocket-engine testing sites, but U.S. officials have said it must take more serious disarmament steps before receiving outside concessions. Trump has indicated he may be open to holding another summit to resuscitate the talks, however.
To keep expectations from getting too high, Moon's chief of staff, Im Jong-seok, said it's "difficult to have any optimistic outlook" for progress on denuclearization during the summit.
But he said he still expects the summit to produce meaningful agreements that "fundamentally remove the danger of armed clashes and ease fears of war" between the two Koreas.
UNITED NATIONS
Amb. Haley attacks Russia for undermining sanctions on North Korea
South Korea last week opened a liaison office in the North's city of Kaesong, near the Demilitarized Zone. Another possible area of progress could be on a formal agreement ending the Korean War, which was halted in 1953 by what was intended to be a temporary armistice. Military officials have discussed possibly disarming a jointly controlled area at the Koreas' shared border village, removing front-line guard posts and halting hostile acts along their sea boundary.
Moon is the third South Korean leader to visit North Korea's capital for summits. Kim Dae-jung and Roh Moo-hyun went to Pyongyang in 2000 and 2007 respectively to meet Kim's father, Kim Jong Il. Those trips produced a slew of inter-Korean rapprochement projects, which were suspended after conservatives took power in Seoul.
Moon Jae-in said he intends to push for "irreversible, permanent peace" and for better dialogue between Pyongyang and Washington.
by Associated Press / Sep.18.2018
Hugs, praise and high expectations as Korean leaders meet in Pyongyang
SEP.18.201801:17
PYONGYANG, North Korea — South Korean President Moon Jae-in arrived in North Korea on Tuesday for his third and possibly most challenging summit yet with leader Kim Jong Un.
Moon hopes to break an impasse in talks with the United States over the North's denuclearization and breathe energy into his own efforts to expand and improve relations between the Koreas.
In what are by now familiar images of the two Korean leaders hugging and exchanging warm smiles, Kim greeted Moon at Pyongyang's airport. They have met twice this year at the border village of Panmunjom, but Moon's visit is the first by a South Korean leader to the North Korean capital in 11 years.
WORLD NEWS
Behind the scenes, Trump’s team is about to get tough with North Korea
Traveling with Moon are business tycoons including Samsung scion Lee Jae-yong, underscoring Moon's hopes to expand cross-border business projects. Currently, all major joint projects between the Koreas are stalled because of U.S.-led sanctions.
Moon was expected to have talks with Kim on Tuesday and Wednesday, according to Moon's chief of staff. Moon and Kim were also expected to jointly announce the results of their talks on Wednesday if things go smoothly. Moon is to return to Seoul on Thursday.
Moon and his wife, Kim Jung-sook, were greeted by Kim and his wife, Ri Sol Ju. The North Korean leader then led his guests to meet some of his senior officials, and they exchanged mutual greetings with Moon's delegation.
Image: North Korean leader Kim Jong Un and his wife Ri Sol Ju greet South Korean President Moon Jae-in and First Lady Kim Jung-sookNorth Korean leader Kim Jong Un and his wife Ri Sol Ju greet South Korean President Moon Jae-in and first lady Kim Jung-sook at Pyongyang Sunan International Airport on Tuesday.Pyeongyang press corps
Thousands of North Koreans cheered and waved flower bouquets and national and unification flags. North Korean soldiers and naval troops quick-marched into position to welcome Moon, and the two leaders inspected the honor guard, according to South Korean media pool footage from the site. A signboard said, "We ardently welcome President Moon Jae-in."
As Moon arrived, the North's main newspaper said the United States was responsible for the lack of progress in denuclearization talks.
"The U.S. is totally to blame for the deadlocked DPRK-U.S. negotiations," the Rodong Sinmun said in an editorial. It said Washington is "stubbornly insisting" the North dismantle its nuclear weapons first, an approach "which was rejected in the past DPRK-U.S. dialogues," while failing to show its will for confidence-building "including the declaration of the end of war which it had already pledged."
State-run media reported Moon was to begin a visit, but gave few details. Security was tight all morning. Requests by The Associated Press to go to the airport or to drive around the city were denied.
Moon is under intense pressure from Washington to advance the denuclearization process. Before his departure he said he intends to push for "irreversible, permanent peace" and for better dialogue between Pyongyang and Washington
Kavanaugh allegations add yet another crisis to a besieged White House
"This summit would be very meaningful if it yielded a resumption of North Korea-U.S. talks," Moon said Tuesday morning just before his departure. "It's very important for South and North Korea to meet frequently, and we are turning to a phase where we can meet anytime we want."
But his chief of staff tried to lower expectations of major progress on the future of Kim's nuclear arsenal.
Kim, meanwhile, is seemingly riding a wave of success.
North Korea holds major military parade to mark 70th anniversary
SEP.09.201802:46
The North just completed an elaborate celebration replete with a military parade and huge rallies across the country to mark North Korea's 70th anniversary. China, signaling its support for Kim's recent diplomatic moves, sent its third-highest party official to those festivities. That's important because China is the North's biggest economic partner and is an important political counterbalance to the United States.
WORLD NEWS
China jumpstarts trade with North Korea, undercutting the Trump admin
North Korea maintains that it has developed its nuclear weapons to the point that it can now defend itself against a potential U.S. attack, and can now shift its focus to economic development and improved ties with the South. While signaling his willingness to talk with Washington, Kim's strategy has been to try to elbow the U.S. away from Seoul so that the two Koreas can take the lead in deciding how to bring peace and stability to their peninsula.
Talks between the United States and North Korea, which Moon brokered through his April and May summits with Kim, have stalled since Kim's meeting with President Donald Trump in Singapore in June.
NBC News exclusive: North Korea producing new nuclear weapons
SEP.11.201801:15
North Korea has taken some steps, like dismantling its nuclear and rocket-engine testing sites, but U.S. officials have said it must take more serious disarmament steps before receiving outside concessions. Trump has indicated he may be open to holding another summit to resuscitate the talks, however.
To keep expectations from getting too high, Moon's chief of staff, Im Jong-seok, said it's "difficult to have any optimistic outlook" for progress on denuclearization during the summit.
But he said he still expects the summit to produce meaningful agreements that "fundamentally remove the danger of armed clashes and ease fears of war" between the two Koreas.
UNITED NATIONS
Amb. Haley attacks Russia for undermining sanctions on North Korea
South Korea last week opened a liaison office in the North's city of Kaesong, near the Demilitarized Zone. Another possible area of progress could be on a formal agreement ending the Korean War, which was halted in 1953 by what was intended to be a temporary armistice. Military officials have discussed possibly disarming a jointly controlled area at the Koreas' shared border village, removing front-line guard posts and halting hostile acts along their sea boundary.
Moon is the third South Korean leader to visit North Korea's capital for summits. Kim Dae-jung and Roh Moo-hyun went to Pyongyang in 2000 and 2007 respectively to meet Kim's father, Kim Jong Il. Those trips produced a slew of inter-Korean rapprochement projects, which were suspended after conservatives took power in Seoul.
Elizabeth Warren's New Argument: Corruption Drives Inequality - TIME
Elizabeth Warren's New Argument: Corruption Drives Inequality
Senator Elizabeth Warren (D-Mass.) speaks at the George J. Kostas Research Institute for Homeland Security in Burlington, MA on April 9, 2018.
By ABBY VESOULIS September 18, 2018
President Donald Trump pledged to “drain the swamp” in Washington, D.C., but his Administration has been beset by ethics scandals both big and small.
Now, one of his potential opponents in 2020 has put together a detailed legislative proposal to tackle a wide range of issues involving lobbying and self-dealing in Washington, some of which seem aimed directly at Trump’s indiscretions.
Sen. Elizabeth Warren’s Anti-Corruption and Public Integrity Act would institute a lifetime ban on lobbying for presidents, vice presidents, members of Congress, federal judges and Cabinet secretaries; require the president and vice president to place certain assets, such as real estate, into a blind trust; mandate the IRS release eight years’ worth of tax returns for all presidential and vice presidential candidates and create a new independent U.S. Office of Public Integrity to enforce ethics laws — among other things.
In an interview with TIME, the Massachusetts Democrat, who polls show is cruising to re-election in this year’s midterms, said that the bill would help Washington work more ethically and help the working class.
Donald Trump campaigned on a pledge to “drain the swamp,” how is your bill different than his attempts?
He hasn’t made any attempts since he became president. In fact, he’s been loading up the swamp. I have a comprehensive set of policy solutions that would fundamentally change the way Washington does business and restore the American public’s faith in democracy.
Your bill includes a lifetime ban on lobbying for [certain senior officials]. Some have argued that could be [challenged] on First Amendment grounds. Do you have a response to that?
I disagree. There are conditions on different jobs all the time. I believe that members of Congress ought to be willing to say, “My job as a Senator or Representative is that and nothing else. And I not only promise that I am not looking over the edge at my next, more lucrative job, I will back that up with a law that prohibits me from doing that.”
You have long campaigned on leveling the playing field economically for working-class Americans. How does an anti-corruption bill tie into that goal?
The reason this government works so well for the wealthy and well-connected is corruption. People with money and power have figured out that they can flood Washington with cash in dozens of different places and get the government to tilt in their favor over and over and over. The only way we will get a level playing field is if government once again works for the people, and that means rooting out corruption. I can even put it the way my daddy would: “ending corruption root and branch” — that’s how he would have described it.
The bill would restrict Democrats as well as Republicans from owning stock and lobbying. How would you convince members of your own party who would end up forgoing money from this to back it?
If the American people demand it, elected officials will enact it.
What role do you think stricter regulations on lobbying and ethics should play in the 2020 presidential campaign?
I think the fundamental question in the 2020 campaign will be who government works for. Corruption in Washington is right in the heart of that question.
Is this bill a sign that you’re considering running for president in 2020?
No. This bill is a sign that we need to make Washington work for the people, and I’ve got an idea of how to do that. I’ll be out there fighting for this bill every single day.
You said in earlier interviews that this bill was a common sense solution to corruption. Why do you think it has taken so long for this kind of legislation to be considered?
The current system is too comfortable for too many people. No one wants to rock the boat. I think it’s time to rock the boat, to make Washington work for the people.
Senator Elizabeth Warren (D-Mass.) speaks at the George J. Kostas Research Institute for Homeland Security in Burlington, MA on April 9, 2018.
By ABBY VESOULIS September 18, 2018
President Donald Trump pledged to “drain the swamp” in Washington, D.C., but his Administration has been beset by ethics scandals both big and small.
Now, one of his potential opponents in 2020 has put together a detailed legislative proposal to tackle a wide range of issues involving lobbying and self-dealing in Washington, some of which seem aimed directly at Trump’s indiscretions.
Sen. Elizabeth Warren’s Anti-Corruption and Public Integrity Act would institute a lifetime ban on lobbying for presidents, vice presidents, members of Congress, federal judges and Cabinet secretaries; require the president and vice president to place certain assets, such as real estate, into a blind trust; mandate the IRS release eight years’ worth of tax returns for all presidential and vice presidential candidates and create a new independent U.S. Office of Public Integrity to enforce ethics laws — among other things.
In an interview with TIME, the Massachusetts Democrat, who polls show is cruising to re-election in this year’s midterms, said that the bill would help Washington work more ethically and help the working class.
Donald Trump campaigned on a pledge to “drain the swamp,” how is your bill different than his attempts?
He hasn’t made any attempts since he became president. In fact, he’s been loading up the swamp. I have a comprehensive set of policy solutions that would fundamentally change the way Washington does business and restore the American public’s faith in democracy.
Your bill includes a lifetime ban on lobbying for [certain senior officials]. Some have argued that could be [challenged] on First Amendment grounds. Do you have a response to that?
I disagree. There are conditions on different jobs all the time. I believe that members of Congress ought to be willing to say, “My job as a Senator or Representative is that and nothing else. And I not only promise that I am not looking over the edge at my next, more lucrative job, I will back that up with a law that prohibits me from doing that.”
You have long campaigned on leveling the playing field economically for working-class Americans. How does an anti-corruption bill tie into that goal?
The reason this government works so well for the wealthy and well-connected is corruption. People with money and power have figured out that they can flood Washington with cash in dozens of different places and get the government to tilt in their favor over and over and over. The only way we will get a level playing field is if government once again works for the people, and that means rooting out corruption. I can even put it the way my daddy would: “ending corruption root and branch” — that’s how he would have described it.
The bill would restrict Democrats as well as Republicans from owning stock and lobbying. How would you convince members of your own party who would end up forgoing money from this to back it?
If the American people demand it, elected officials will enact it.
What role do you think stricter regulations on lobbying and ethics should play in the 2020 presidential campaign?
I think the fundamental question in the 2020 campaign will be who government works for. Corruption in Washington is right in the heart of that question.
Is this bill a sign that you’re considering running for president in 2020?
No. This bill is a sign that we need to make Washington work for the people, and I’ve got an idea of how to do that. I’ll be out there fighting for this bill every single day.
You said in earlier interviews that this bill was a common sense solution to corruption. Why do you think it has taken so long for this kind of legislation to be considered?
The current system is too comfortable for too many people. No one wants to rock the boat. I think it’s time to rock the boat, to make Washington work for the people.
Faced with a president who places a premium on loyalty, the FBI is gently asserting its independence - Bloomberg Politics
Sept, 20, 2018.
Faced with a president who places a premium on loyalty, the FBI is gently asserting its independence.
Donald Trump is seeking to pull the bureau into two of the most heated political controversies of his tenure: The probe of Russian meddling in the 2016 election and the sexual assault allegations that have jeopardized Brett Kavanaugh’s Supreme Court nomination.
But FBI officials aren’t acquiescing to Trump’s demand for the “immediate declassification” of some materials related to the Russia investigation and are likely to push for redactions. And the agency is willing to probe the claims against Kavanaugh — despite Trump’s assertions to the contrary — but it can’t do so without a formal White House request, Chris Strohm reports.
The tensions add to an already fraught relationship between the president and the law enforcement agencies he oversees and who he and his allies have accused of political bias. Trump reportedly unsuccessfully sought a loyalty pledge from former FBI Director James Comey, who he later fired. He has also repeatedly attacked Attorney General Jeff Sessions for failing to quash the Russia investigation.
Trump’s actions are testing the meddle of FBI Director Christopher Wray, who has vowed to defend the agency’s work from political manipulation.
— Kathleen Hunter
Faced with a president who places a premium on loyalty, the FBI is gently asserting its independence.
Donald Trump is seeking to pull the bureau into two of the most heated political controversies of his tenure: The probe of Russian meddling in the 2016 election and the sexual assault allegations that have jeopardized Brett Kavanaugh’s Supreme Court nomination.
But FBI officials aren’t acquiescing to Trump’s demand for the “immediate declassification” of some materials related to the Russia investigation and are likely to push for redactions. And the agency is willing to probe the claims against Kavanaugh — despite Trump’s assertions to the contrary — but it can’t do so without a formal White House request, Chris Strohm reports.
The tensions add to an already fraught relationship between the president and the law enforcement agencies he oversees and who he and his allies have accused of political bias. Trump reportedly unsuccessfully sought a loyalty pledge from former FBI Director James Comey, who he later fired. He has also repeatedly attacked Attorney General Jeff Sessions for failing to quash the Russia investigation.
Trump’s actions are testing the meddle of FBI Director Christopher Wray, who has vowed to defend the agency’s work from political manipulation.
— Kathleen Hunter
Wednesday, September 19, 2018
Wilbur Ross: Trump's new China tariffs will increase prices but 'nobody is going to actually notice' - CNBC News
Wilbur Ross: Trump's new China tariffs will increase prices but 'nobody is going to actually notice'
The Commerce secretary concedes prices in the U.S. will increase as a result of the new China tariffs put in place by President Trump.
However, Ross says they will be "spread across thousands and thousands of products" and "nobody is going to actually notice it at the end of the day."
Matthew J. Belvedere | @Matt_Belvedere
Published on Sept. 19, 2018.
CNBC.com
Ross: EU, Japan has joined us for WTO consultation process Ross: Tariffs to have minimal inflation impact
Commerce Secretary Wilbur Ross concedes that prices in the U.S. will increase as a result of the new China tariffs put in place by President Donald Trump.
However, Ross told CNBC on Tuesday, "Nobody is going to actually notice it at the end of the day," because the hikes will be "spread across thousands and thousands of products."
Jim Cramer: Wilbur Ross is right Jim Cramer: Wilbur Ross is right
20 Hours Ago | 03:14
"If you have a 10 percent tariff on another $200 billion, that's $20 billion a year. That's a tiny, tiny, tiny fraction of 1 percent [of] inflation in the U.S.," Ross said.
The Trump administration on Monday announced tariffs of 10 percent on another $200 billion worth of Chinese imports, rising to 25 percent at the end of the year.
In response Tuesday morning, China said it will institute retaliatory tariffs on U.S. goods worth $60 billion on Monday.
Before China weighed in, Ross said on "Squawk Box" that China is "out of bullets" to retaliate because its imports to the U.S. are nearly four times larger than the U.S. exports to China.
The Commerce secretary concedes prices in the U.S. will increase as a result of the new China tariffs put in place by President Trump.
However, Ross says they will be "spread across thousands and thousands of products" and "nobody is going to actually notice it at the end of the day."
Matthew J. Belvedere | @Matt_Belvedere
Published on Sept. 19, 2018.
CNBC.com
Ross: EU, Japan has joined us for WTO consultation process Ross: Tariffs to have minimal inflation impact
Commerce Secretary Wilbur Ross concedes that prices in the U.S. will increase as a result of the new China tariffs put in place by President Donald Trump.
However, Ross told CNBC on Tuesday, "Nobody is going to actually notice it at the end of the day," because the hikes will be "spread across thousands and thousands of products."
Jim Cramer: Wilbur Ross is right Jim Cramer: Wilbur Ross is right
20 Hours Ago | 03:14
"If you have a 10 percent tariff on another $200 billion, that's $20 billion a year. That's a tiny, tiny, tiny fraction of 1 percent [of] inflation in the U.S.," Ross said.
The Trump administration on Monday announced tariffs of 10 percent on another $200 billion worth of Chinese imports, rising to 25 percent at the end of the year.
In response Tuesday morning, China said it will institute retaliatory tariffs on U.S. goods worth $60 billion on Monday.
Before China weighed in, Ross said on "Squawk Box" that China is "out of bullets" to retaliate because its imports to the U.S. are nearly four times larger than the U.S. exports to China.
Kavanaugh accuser calls for FBI investigation before she testifies - CBS News
September 18, 2018, 11:05 PM
Kavanaugh accuser calls for FBI investigation before she testifies
The woman who has accused Supreme Court Justice nominee Brett Kavanaugh of sexual misconduct, Christine Blasey Ford, is calling for an FBI investigation before testifying in front of the Senate Judiciary Committee. And Ford's lawyers admonished the committee for scheduling the hearing so soon after her allegations became public.
"While Dr. Ford's life was being turned upside down, you and your staff scheduled a public hearing for her to testify at the same table as Judge Kavanaugh in front of two dozen U.S. senators on national television to relive this traumatic and harrowing incident," said a letter Tuesday evening from Ford's lawyers to Sen. Charles Grassley, the committee chairman.
The committee invited both Kavanaugh and Ford to testify on the allegations, and Kavanaugh accepted. Mark Judge, who allegedly was also at the party in question in the 1980s, and in the room with Kavanaugh, said through his attorney he has no memory of the alleged incident and does not wish to testify publicly.
Democrats are accusing Grassley of trying to rush through the confirmation. They say that two witnesses are insufficient, and the rushed nature could lead to the "mistakes" of the Anita Hill hearings during Clarence Thomas' Supreme Court confirmation hearings.
The hearing scheduled for Monday represents a significant change in Kavanaugh's confirmation process. The committee had planned a meeting Thursday, but postponed it to allow for Kavanaugh and Ford to testify.
Even if Ford does not appear Monday, Republicans could continue to give Kavanaugh the opportunity address the allegations.
The letter on Tuesday said that Ford "wants to cooperate with the Committee and with law enforcement." The lawyers said an FBI investigation should come first. "A full investigation by law enforcement officials will ensure that the crucial facts and witnesses in this matter are assessed in a non-partisan manner, and that the Committee is fully informed before conducting any hearing or making any decisions."
The lawyers said that Ford has been the target of "vicious harassment and even death threats" and that her family has relocated.
Grassley responded to the letter later Tuesday evening: "Dr. Ford's testimony would reflect her personal knowledge and memory of events. Nothing the FBI or any other investigator does would have any bearing on what Dr. Ford tells the committee, so there is no reason for any further delay."
Read Ford's letter to the Senate Judiciary Committee here:
Context on the FBI's role in investigating Kavanaugh
Democrats -- and now Ford -- are urging the FBI to reopen the investigation into Kavanaugh's history, which was essentially a background check. According to CBS News contributor Ron Hosko, who is a former assistant director of the FBI, the FBI could investigate if evidence arose of a federal crime or of a national security matter while investigators were conducting Kavanaugh's background check. (For instance, if a federal crime had been committed 35 years ago and beyond the statute of limitations, the bureau might opt not to investigate).
The FBI's investigative work here is neither criminal nor national security. It is, Hosko explains, a background investigation led by the Security Division for a customer -- the White House. The results are packaged and provided to the customer.
There is no local criminal investigation in this case, and the allegations so far do not fall under federal criminal statutes or national security areas. The FBI therefore puts the information in Kavanaugh's background check folder, which the FBI has already said it did. The White House must then decide if the FBI should investigate the matter further.
A U.S. official tells CBS News that under the existing memorandum of understanding, the White House would need to ask the FBI to look into the allegations raised by Ford.
Based on such a request from the White House, the bureau would then move forward.
Andres Triay contributed to this report.
4:52 p.m.: George W. Bush says he stands by Kavanaugh
Former President George W. Bush said he and his wife, former first lady Laura Bush, stand by their support for Kavanaugh. Kavanaugh worked in the Bush White House as a top aide.
"Laura and I have known and respected Brett Kavanaugh for decades, and we stand by our comments the night Judge Kavanaugh was nominated: 'He is a fine husband, father, and friend – and a man of the highest integrity. He will make a superb Justice of the Supreme Court of the United States,'" the Bushes said in a statement provided to CBS News and first reported by Politico.
4:25 p.m.: Mark Judge says he doesn't wish to testify publicly
Mark Judge, the other person Ford said was also in the room during the alleged incident, told the committee through his lawyer that he doesn't wish to testify publicly. Judge denies any memory or knowledge of the alleged incident.
"I have no more information to offer the committee and I do not wish to speak publicly regarding the incidents described in Dr. Ford's letter," Judge wrote to the committee.
3 p.m.: Trump says he feels "so badly" for Kavanaugh amid allegations
During a joint press conference with Poland's president, President Trump said he feels "terribly" for Judge Brett Kavanaugh and his family as he faces allegations of sexual misconduct.
He called him an incredible individual with an "impeccable history in every way." Mr. Trump said that the allegations should have been brought to light a long time ago and that he "doesn't deserve this."
2:20 p.m.: Sen. Mazie Hirono to men: "Just shut up and step up"
"Guess who's perpetuating all these kinds of actions? It's the men in this country, and I just want to say to the men in this country, just shut up and step up. Do the right thing for a change. As you can see I'm a little upset by this, the fairness of it," an impassioned Hirono told reporters Tuesday on Capitol Hill.
Hirono added that the White House was "victimizing" Ford for no reason. "Why should we participate in the victimization of someone who has the courage to come forward and she is under absolutely no obligation to participate in a smearing of her and her family."
In op-ed, Anita Hill gives guidelines on how to get Kavanaugh hearing right
"There is no way to redo 1991, but there are ways to do better," wrote Anita Hill who testified before the very same Senate Judiciary Committee during Supreme Court Justice Clarence Thomas' confirmation process with her own allegations of sexual misconduct. In a New York Times op-ed, Hill recommended that committee "must demonstrate a clear understanding that sexual violence is a social reality to which elected representatives must respond."
Basic ground rules the committee should follow, according to Hill, include:
"Refrain from pitting the public interest in confronting sexual harassment against the need for a fair confirmation hearing"
Select a neutral investigative body with experience in sexual misconduct cases
Do not rush the hearings
Refer to Christine Blasey Ford by name and not simply "Judge Kavanaugh's accuser"
Liberal group Demand Justice releases new ad "Enough" tying Trump misconduct claims to Kavanaugh
Demand Justice rolled out a new ad in the DC market attacking President Trump for his own misconduct allegations in the wake of Judge Brett Kavanaugh's. The ad references both the Access Hollywood tape and Mr. Trump's support for Alabama senate candidate Roy Moore. The group claims it plans to spend $700k.
Enough by Demand Justice on YouTube
How Brett Kavanaugh's supporters are defending the allegations against him
Amid detailed revelations of sexual misconduct, Kavanaugh's supporters have been making several arguments in his defense. Some are suspicious of the timing of the allegations coming just as the Senate aimed to wrap up Kavanaugh's confirmation process. Although Sen. Dianne Feinstein was aware of Ford's story in July, she did not attempt to delay the confirmation process until this month.
12:50 p.m.: Trump: "We want everybody to be able to speak up and speak out"
Speaking from the Oval Office in a meeting with Poland's president, Mr. Trump said that Judge Brett Kavanaugh is "anxious" to speak before the Senate. "I don't know about the other party, a delay is certainly acceptable we want to get to the bottom of everything," he said.
"We want everybody to be able to speak up and speak out," he added, "We feel we want to go through a process, we want to hear both sides." Mr. Trump said that he felt the FBI shouldn't be involved in the process "because they don't want to be." He had confidence, however, in the Senate to do a "very good job" in the confirmation process.
11:45 a.m.: Grassley aide: Ford has not responded to invitation
Ford and her laywer have not yet responded to requests to attend Monday's hearing according to an aide to Chairman Grassley.
"Our staff reached out to Dr. Ford's lawyer with multiple emails yesterday to schedule a similar call and inform her of the upcoming hearing, where she will have the opportunity to share her story with the Committee. Her lawyer has not yet responded," the statement said.
Grassley expanded on the non-committal from Ford in his interview with Hugh Hewitt.
"It kind of raises the question do they want to, do they want to come to the public hearing or not? And the reason we're having the public hearing is obviously, well, number one is accusations like this deserve consideration and looking into, and that's what the purpose of the hearing is."
He added, "Even before we requested him [Kavanaugh] to testify, he said he was willing to testify. As of Sunday night, I had that message. So we still haven't heard from Dr. Ford. So do they want to have the hearing or not? We're delaying the vote, strictly, to get all the facts out on the table."
Grassley says he'd "hate" to have someone ask "what I did 35 years ago"
In an interview with conservative radio host Hugh Hewitt that aired on Tuesday, Chairman Grassley contended that he'd "hate" to have "somebody ask me what I did 35 years ago" in reference to Ford's upcoming testimony on Monday.
He added, "I think I look at it this way. Accusers deserve to be heard. And after they're heard, we also have a responsibility to hear Judge Kavanaugh. And I want to hear from Dr. Ford. And she deserves to be heard, because these are serious accusations."
11 a.m.: Schumer calls hearing process "wrong, unfair"
Sen. Chuck Schumer on the Senate floor Tuesday called out Chairman Grassley for once again rushing through the confirmation process. He said Monday's hearing with Ford and Kavanaugh will not provide adequate time for senators who are not on the committee to review testimony before a scheduled vote the next day. He also questioned the lack of witnesses beyond Ford and Kavanaugh.
"This morning, Chairman Grassley said that there would only be two witnesses. That's simply inadequate, unfair, wrong and a desire not to get at the whole truth and nothing but the truth," said Schumer.
Schumer went on, comparing the nature of the Kavanaugh hearings to that of Anita Hill testifying before the Clarence Thomas confirmation hearings. "What a shame in this Senate," said Schumer. "Let's not repeat the mistakes made in the Anita Hill hearings. Let's call all the relevant witnesses, not just two selected by Chairman Grassley who did not want to call the hearings to begin with. Let's do this fair and full and right."
9:40 a.m.: Kavanaugh friend of 25 years calls judge a "wonderful" person
In an interview with CBS This Morning, Helgi Walker, a partner at the law firm Gibson Dunn and friend of Kavanaugh's for over 25 years, called Kavanaugh a "great public servant." The two worked together in the White House counsel's office during the Bush administration.
"He's so smart and so dedicated, a hard worker, courteous, kind. He's actually a very gentle souled person. And just a terrific friend," Walker said. She added that the allegations were a "complete shock" to her and cited the six FBI background checks into his record.
"To my knowledge nothing like this has ever come up. And I think he has said this was a total surprise to him, he had no idea even who was making these allegations until she came forward and identified herself. So I think this was a bolt of out of the blue for him and also everybody who has known him for a good period of time like I have been lucky to know him."
Walker, who clerked with Supreme Court Justice Clarence Thomas, noted the parallels to the controversies that blanketed much of the confirmation process for both judges.
"I think it is unfortunately somewhat reminiscent of those hearings in the 1990's in that something as brought forward at the last minute and has created a situation that is so politically charged," said Walker.
Tuesday, 7:06 a.m.: Sen. Kamala Harris says Kavanaugh accuser has "nothing to gain" in stepping forward
Speaking to "CBS This Morning", Sen. Kamala Harris said she believes Ford's story and commended her "courage" for stepping forward and being willing to testify before the Judiciary Committee.
"I think it's going to be about, it comes down to credibility...and it's going to about listening to what each party has to say, but I believe her," said Harris.
Harris' comments come after the committee announced late Monday that both Kavanaugh and Ford will be scheduled to testify on Monday, delaying the committee's vote previously scheduled for Thursday.
Monday, Sept. 19
5:52 p.m.: White House says Kavanaugh is ready to testify about "false" allegation
The White House issued yet another statement Monday on Kavanaugh late Monday afternoon.
"Judge Kavanaugh looks forward to a hearing where he can clear his name of this false allegation," White House spokesman Raj Shah said. "He stands ready to testify tomorrow if the Senate is ready to hear him."
4:27 p.m. Kavanaugh expected to address Senate Judiciary Committee staffers in phone call
Kavanaugh is speaking to staffers on the Senate Judiciary Committee about the allegation on a call at 5:30 p.m., a source familiar with the committee's process and schedule said. Democratic staffers, according to the source, have no plans to participate.
Democrats on the Senate Judiciary Committee explained in a statement why they are not participating.
"With only a few hours' notice and over the objections of Ranking Member Feinstein, Judiciary Committee Republicans scheduled a staff-level phone call with BrettKavanaugh concerning allegations that he sexually assaulted a young woman," the statement said. "In view of the enormity and seriousness of these allegations, a staff-only phone call behind closed doors is unacceptable and Democratic staff will not participate. This isn't how things should be done and is in complete violation of how this committee has worked in the past."
"The FBI has the resources and know-how to conduct an objective, independent evaluation of these sensitive allegations with appropriately trained investigators. This isn't just about an interview, it's about analyzing information and gathering the facts. That's what the FBI does, and that's why they're in charge of the background review process.
3:30 p.m.: Mitch McConnell calls into question Democrats "11th hour" allegation
Taking to the Senate floor, Senate Majority Leader Mitch McConnell said the Democrats' handling of the Kavanaugh allegations was "really not fair." McConnell commended Chairman Grassley for following regular order in the process and urged to "pursue this by the book."
Senate Minority Leader Chuck Schumer however argued that Grassley has to "stop playing games" with the process, saying that "hastily arranged private phone calls" are "not even close to constituting a fair and thorough review" and are not a substitute for an FBI background check or public hearing.
He urged that the Senate "should and must provide a forum" for Ford to speak to her allegations.
3 p.m.: Trump praises Kavanaugh, but is open to a slight delay
President Trump spoke up about Kavanaugh for the first time Monday afternoon in a meeting at the White House. Mr. Trump praised Kavanaugh's intellect and background, but also said he wants everyone in the process to be happy and is open to a slight delay.
"He's an outstanding intellect. An outstanding judge. Respected by everybody," the president told reporters. "Never even had a little blemish on his record. The FBI has I think gone through a process six times with him over the years where he went to higher and higher positions. He is somebody very special. At the same time, we want to go through a process. We want to make sure everything is perfect, everything is just right."
1:40 p.m.: TIMES UP releases statement in support of Ford
Organizers of the TIMES UP movement, which first became known during the wave of sexual assault allegations that rocked Hollywood, said in a statement, "If this moment in time feels strangely familiar, it's because it is. Listen to Christine Blasey Ford. A woman's experience should never be valued less than a man's career."
TIME'S UP
✔
@TIMESUPNOW
If this moment in time feels strangely familiar, it’s because it is. Listen to Christine Blasey Ford. A woman's experience should never be valued less than a man’s career.
Full statement below:
4:44 AM - Sep 18, 2018
12:20 p.m.: Grassley says Ford deserves to be heard
Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, said in a statement that anyone who comes forward as Ford does should be heard — but stopped short of suggesting testifying before the full committee. Ford has expressed a willingness to speak before the committee, as has Kavanaugh.
"Anyone who comes forward as Dr. Ford has deserves to be heard, so I will continue working on a way to hear her out in an appropriate,precedented and respectful manner," Grassley said. "The standard procedure for updates to any nominee's background investigation file is to conduct separate follow-up calls with relevant parties."
"In this case, that would entail phone calls with at least Judge Kavanaugh and Dr. Ford," Grassley continued. "Consistent with that practice, I asked Senator Feinstein's office yesterday to join me in scheduling these follow-ups. Thus far, they have refused. But as a necessary step in evaluating these claims, I'll continue working to set them up."
12:03 p.m.: Conservative group launches $1.5 million ad campaign for Kavanaugh
A spokeswoman for the Judicial Crisis Network, which has been working to help confirm Kavanaugh, confirmed the group will be announcing a $1.5 million cable and broadcast TV ad blitz to support Kavanaugh. It will feature a 35-year friend of Kavanaugh.
"We are not going to allow a last-minute smear campaign destroy a good and decent man who has an unblemished personal record," the spokeswoman said.
12:03 p.m.: Sen. Susan Collins says Ford and Kavanaugh should testify under oath
Sen. Susan Collins, one of the Republicans her own party has been working to ensure votes for Kavanaugh, tweeted that she wants both Ford and Kavanaugh to testify under oath in front of the Senate Judiciary Committee.
"Professor Ford and Judge Kavanaugh should both testify under oath before the Judiciary Committee," she wrote.
11:34 a.m.: FBI reiterates there is no investigation into Kavanaugh
Asked whether the FBI is investigating the Kavanaugh allegation, the FBI said, as it did last week, that there is no FBI investigation. The FBI pointed CBS News back to its statement from last week:
"Upon receipt of the information on the night of September 12, we included it as part of Judge Kavanaugh's background file, as per the standard process," the FBI repeated.
10:11 a.m.: Kavanaugh issues new denial statement:
Kavanaugh issued a new denial Monday morning in response to a woman's allegation that he assaulted her when they were both in high school. Kavanaugh said he's willing to "refute" her "false allegation" before the Senate Judiciary Committee "in any way the committee deems appropriate."
Kavanaugh had issued a flat denial of claims outlined in a letter Ford sent to Democrats, but in his new statement, Kavanaugh said he had no idea who had made the accusation "until she identified herself yesterday." The White House is standing by Kavanaugh's initial denial.
"This is a completely false allegation," Kavanaugh said in a statement Monday morning. "I have never done anything like what the accuser describes—to her or to anyone. Because this never happened, I had no idea who was making this accusation until she identified herself yesterday. I am willing to talk to the Senate Judiciary Committee in any way the committee deems appropriate to refute this false allegation, from 36 years ago, and defend my integrity."
It's unclear whether the willingness to testify expressed from both Ford and Kavanaugh will delay the confirmation process. As of Sunday afternoon, Senate Judiciary Committee Chairman Chuck Grassley intended to move forward with the committee vote as planned. But some Republicans, not to mention Democrats, have expressed they want to hear from Ford first, and the Senate is out of session Wednesday for the Jewish holiday Yom Kippur.
Kavanaugh accuser calls for FBI investigation before she testifies
The woman who has accused Supreme Court Justice nominee Brett Kavanaugh of sexual misconduct, Christine Blasey Ford, is calling for an FBI investigation before testifying in front of the Senate Judiciary Committee. And Ford's lawyers admonished the committee for scheduling the hearing so soon after her allegations became public.
"While Dr. Ford's life was being turned upside down, you and your staff scheduled a public hearing for her to testify at the same table as Judge Kavanaugh in front of two dozen U.S. senators on national television to relive this traumatic and harrowing incident," said a letter Tuesday evening from Ford's lawyers to Sen. Charles Grassley, the committee chairman.
The committee invited both Kavanaugh and Ford to testify on the allegations, and Kavanaugh accepted. Mark Judge, who allegedly was also at the party in question in the 1980s, and in the room with Kavanaugh, said through his attorney he has no memory of the alleged incident and does not wish to testify publicly.
Democrats are accusing Grassley of trying to rush through the confirmation. They say that two witnesses are insufficient, and the rushed nature could lead to the "mistakes" of the Anita Hill hearings during Clarence Thomas' Supreme Court confirmation hearings.
The hearing scheduled for Monday represents a significant change in Kavanaugh's confirmation process. The committee had planned a meeting Thursday, but postponed it to allow for Kavanaugh and Ford to testify.
Even if Ford does not appear Monday, Republicans could continue to give Kavanaugh the opportunity address the allegations.
The letter on Tuesday said that Ford "wants to cooperate with the Committee and with law enforcement." The lawyers said an FBI investigation should come first. "A full investigation by law enforcement officials will ensure that the crucial facts and witnesses in this matter are assessed in a non-partisan manner, and that the Committee is fully informed before conducting any hearing or making any decisions."
The lawyers said that Ford has been the target of "vicious harassment and even death threats" and that her family has relocated.
Grassley responded to the letter later Tuesday evening: "Dr. Ford's testimony would reflect her personal knowledge and memory of events. Nothing the FBI or any other investigator does would have any bearing on what Dr. Ford tells the committee, so there is no reason for any further delay."
Read Ford's letter to the Senate Judiciary Committee here:
Context on the FBI's role in investigating Kavanaugh
Democrats -- and now Ford -- are urging the FBI to reopen the investigation into Kavanaugh's history, which was essentially a background check. According to CBS News contributor Ron Hosko, who is a former assistant director of the FBI, the FBI could investigate if evidence arose of a federal crime or of a national security matter while investigators were conducting Kavanaugh's background check. (For instance, if a federal crime had been committed 35 years ago and beyond the statute of limitations, the bureau might opt not to investigate).
The FBI's investigative work here is neither criminal nor national security. It is, Hosko explains, a background investigation led by the Security Division for a customer -- the White House. The results are packaged and provided to the customer.
There is no local criminal investigation in this case, and the allegations so far do not fall under federal criminal statutes or national security areas. The FBI therefore puts the information in Kavanaugh's background check folder, which the FBI has already said it did. The White House must then decide if the FBI should investigate the matter further.
A U.S. official tells CBS News that under the existing memorandum of understanding, the White House would need to ask the FBI to look into the allegations raised by Ford.
Based on such a request from the White House, the bureau would then move forward.
Andres Triay contributed to this report.
4:52 p.m.: George W. Bush says he stands by Kavanaugh
Former President George W. Bush said he and his wife, former first lady Laura Bush, stand by their support for Kavanaugh. Kavanaugh worked in the Bush White House as a top aide.
"Laura and I have known and respected Brett Kavanaugh for decades, and we stand by our comments the night Judge Kavanaugh was nominated: 'He is a fine husband, father, and friend – and a man of the highest integrity. He will make a superb Justice of the Supreme Court of the United States,'" the Bushes said in a statement provided to CBS News and first reported by Politico.
4:25 p.m.: Mark Judge says he doesn't wish to testify publicly
Mark Judge, the other person Ford said was also in the room during the alleged incident, told the committee through his lawyer that he doesn't wish to testify publicly. Judge denies any memory or knowledge of the alleged incident.
"I have no more information to offer the committee and I do not wish to speak publicly regarding the incidents described in Dr. Ford's letter," Judge wrote to the committee.
3 p.m.: Trump says he feels "so badly" for Kavanaugh amid allegations
During a joint press conference with Poland's president, President Trump said he feels "terribly" for Judge Brett Kavanaugh and his family as he faces allegations of sexual misconduct.
He called him an incredible individual with an "impeccable history in every way." Mr. Trump said that the allegations should have been brought to light a long time ago and that he "doesn't deserve this."
2:20 p.m.: Sen. Mazie Hirono to men: "Just shut up and step up"
"Guess who's perpetuating all these kinds of actions? It's the men in this country, and I just want to say to the men in this country, just shut up and step up. Do the right thing for a change. As you can see I'm a little upset by this, the fairness of it," an impassioned Hirono told reporters Tuesday on Capitol Hill.
Hirono added that the White House was "victimizing" Ford for no reason. "Why should we participate in the victimization of someone who has the courage to come forward and she is under absolutely no obligation to participate in a smearing of her and her family."
In op-ed, Anita Hill gives guidelines on how to get Kavanaugh hearing right
"There is no way to redo 1991, but there are ways to do better," wrote Anita Hill who testified before the very same Senate Judiciary Committee during Supreme Court Justice Clarence Thomas' confirmation process with her own allegations of sexual misconduct. In a New York Times op-ed, Hill recommended that committee "must demonstrate a clear understanding that sexual violence is a social reality to which elected representatives must respond."
Basic ground rules the committee should follow, according to Hill, include:
"Refrain from pitting the public interest in confronting sexual harassment against the need for a fair confirmation hearing"
Select a neutral investigative body with experience in sexual misconduct cases
Do not rush the hearings
Refer to Christine Blasey Ford by name and not simply "Judge Kavanaugh's accuser"
Liberal group Demand Justice releases new ad "Enough" tying Trump misconduct claims to Kavanaugh
Demand Justice rolled out a new ad in the DC market attacking President Trump for his own misconduct allegations in the wake of Judge Brett Kavanaugh's. The ad references both the Access Hollywood tape and Mr. Trump's support for Alabama senate candidate Roy Moore. The group claims it plans to spend $700k.
Enough by Demand Justice on YouTube
How Brett Kavanaugh's supporters are defending the allegations against him
Amid detailed revelations of sexual misconduct, Kavanaugh's supporters have been making several arguments in his defense. Some are suspicious of the timing of the allegations coming just as the Senate aimed to wrap up Kavanaugh's confirmation process. Although Sen. Dianne Feinstein was aware of Ford's story in July, she did not attempt to delay the confirmation process until this month.
12:50 p.m.: Trump: "We want everybody to be able to speak up and speak out"
Speaking from the Oval Office in a meeting with Poland's president, Mr. Trump said that Judge Brett Kavanaugh is "anxious" to speak before the Senate. "I don't know about the other party, a delay is certainly acceptable we want to get to the bottom of everything," he said.
"We want everybody to be able to speak up and speak out," he added, "We feel we want to go through a process, we want to hear both sides." Mr. Trump said that he felt the FBI shouldn't be involved in the process "because they don't want to be." He had confidence, however, in the Senate to do a "very good job" in the confirmation process.
11:45 a.m.: Grassley aide: Ford has not responded to invitation
Ford and her laywer have not yet responded to requests to attend Monday's hearing according to an aide to Chairman Grassley.
"Our staff reached out to Dr. Ford's lawyer with multiple emails yesterday to schedule a similar call and inform her of the upcoming hearing, where she will have the opportunity to share her story with the Committee. Her lawyer has not yet responded," the statement said.
Grassley expanded on the non-committal from Ford in his interview with Hugh Hewitt.
"It kind of raises the question do they want to, do they want to come to the public hearing or not? And the reason we're having the public hearing is obviously, well, number one is accusations like this deserve consideration and looking into, and that's what the purpose of the hearing is."
He added, "Even before we requested him [Kavanaugh] to testify, he said he was willing to testify. As of Sunday night, I had that message. So we still haven't heard from Dr. Ford. So do they want to have the hearing or not? We're delaying the vote, strictly, to get all the facts out on the table."
Grassley says he'd "hate" to have someone ask "what I did 35 years ago"
In an interview with conservative radio host Hugh Hewitt that aired on Tuesday, Chairman Grassley contended that he'd "hate" to have "somebody ask me what I did 35 years ago" in reference to Ford's upcoming testimony on Monday.
He added, "I think I look at it this way. Accusers deserve to be heard. And after they're heard, we also have a responsibility to hear Judge Kavanaugh. And I want to hear from Dr. Ford. And she deserves to be heard, because these are serious accusations."
11 a.m.: Schumer calls hearing process "wrong, unfair"
Sen. Chuck Schumer on the Senate floor Tuesday called out Chairman Grassley for once again rushing through the confirmation process. He said Monday's hearing with Ford and Kavanaugh will not provide adequate time for senators who are not on the committee to review testimony before a scheduled vote the next day. He also questioned the lack of witnesses beyond Ford and Kavanaugh.
"This morning, Chairman Grassley said that there would only be two witnesses. That's simply inadequate, unfair, wrong and a desire not to get at the whole truth and nothing but the truth," said Schumer.
Schumer went on, comparing the nature of the Kavanaugh hearings to that of Anita Hill testifying before the Clarence Thomas confirmation hearings. "What a shame in this Senate," said Schumer. "Let's not repeat the mistakes made in the Anita Hill hearings. Let's call all the relevant witnesses, not just two selected by Chairman Grassley who did not want to call the hearings to begin with. Let's do this fair and full and right."
9:40 a.m.: Kavanaugh friend of 25 years calls judge a "wonderful" person
In an interview with CBS This Morning, Helgi Walker, a partner at the law firm Gibson Dunn and friend of Kavanaugh's for over 25 years, called Kavanaugh a "great public servant." The two worked together in the White House counsel's office during the Bush administration.
"He's so smart and so dedicated, a hard worker, courteous, kind. He's actually a very gentle souled person. And just a terrific friend," Walker said. She added that the allegations were a "complete shock" to her and cited the six FBI background checks into his record.
"To my knowledge nothing like this has ever come up. And I think he has said this was a total surprise to him, he had no idea even who was making these allegations until she came forward and identified herself. So I think this was a bolt of out of the blue for him and also everybody who has known him for a good period of time like I have been lucky to know him."
Walker, who clerked with Supreme Court Justice Clarence Thomas, noted the parallels to the controversies that blanketed much of the confirmation process for both judges.
"I think it is unfortunately somewhat reminiscent of those hearings in the 1990's in that something as brought forward at the last minute and has created a situation that is so politically charged," said Walker.
Tuesday, 7:06 a.m.: Sen. Kamala Harris says Kavanaugh accuser has "nothing to gain" in stepping forward
Speaking to "CBS This Morning", Sen. Kamala Harris said she believes Ford's story and commended her "courage" for stepping forward and being willing to testify before the Judiciary Committee.
"I think it's going to be about, it comes down to credibility...and it's going to about listening to what each party has to say, but I believe her," said Harris.
Harris' comments come after the committee announced late Monday that both Kavanaugh and Ford will be scheduled to testify on Monday, delaying the committee's vote previously scheduled for Thursday.
Monday, Sept. 19
5:52 p.m.: White House says Kavanaugh is ready to testify about "false" allegation
The White House issued yet another statement Monday on Kavanaugh late Monday afternoon.
"Judge Kavanaugh looks forward to a hearing where he can clear his name of this false allegation," White House spokesman Raj Shah said. "He stands ready to testify tomorrow if the Senate is ready to hear him."
4:27 p.m. Kavanaugh expected to address Senate Judiciary Committee staffers in phone call
Kavanaugh is speaking to staffers on the Senate Judiciary Committee about the allegation on a call at 5:30 p.m., a source familiar with the committee's process and schedule said. Democratic staffers, according to the source, have no plans to participate.
Democrats on the Senate Judiciary Committee explained in a statement why they are not participating.
"With only a few hours' notice and over the objections of Ranking Member Feinstein, Judiciary Committee Republicans scheduled a staff-level phone call with BrettKavanaugh concerning allegations that he sexually assaulted a young woman," the statement said. "In view of the enormity and seriousness of these allegations, a staff-only phone call behind closed doors is unacceptable and Democratic staff will not participate. This isn't how things should be done and is in complete violation of how this committee has worked in the past."
"The FBI has the resources and know-how to conduct an objective, independent evaluation of these sensitive allegations with appropriately trained investigators. This isn't just about an interview, it's about analyzing information and gathering the facts. That's what the FBI does, and that's why they're in charge of the background review process.
3:30 p.m.: Mitch McConnell calls into question Democrats "11th hour" allegation
Taking to the Senate floor, Senate Majority Leader Mitch McConnell said the Democrats' handling of the Kavanaugh allegations was "really not fair." McConnell commended Chairman Grassley for following regular order in the process and urged to "pursue this by the book."
Senate Minority Leader Chuck Schumer however argued that Grassley has to "stop playing games" with the process, saying that "hastily arranged private phone calls" are "not even close to constituting a fair and thorough review" and are not a substitute for an FBI background check or public hearing.
He urged that the Senate "should and must provide a forum" for Ford to speak to her allegations.
3 p.m.: Trump praises Kavanaugh, but is open to a slight delay
President Trump spoke up about Kavanaugh for the first time Monday afternoon in a meeting at the White House. Mr. Trump praised Kavanaugh's intellect and background, but also said he wants everyone in the process to be happy and is open to a slight delay.
"He's an outstanding intellect. An outstanding judge. Respected by everybody," the president told reporters. "Never even had a little blemish on his record. The FBI has I think gone through a process six times with him over the years where he went to higher and higher positions. He is somebody very special. At the same time, we want to go through a process. We want to make sure everything is perfect, everything is just right."
1:40 p.m.: TIMES UP releases statement in support of Ford
Organizers of the TIMES UP movement, which first became known during the wave of sexual assault allegations that rocked Hollywood, said in a statement, "If this moment in time feels strangely familiar, it's because it is. Listen to Christine Blasey Ford. A woman's experience should never be valued less than a man's career."
TIME'S UP
✔
@TIMESUPNOW
If this moment in time feels strangely familiar, it’s because it is. Listen to Christine Blasey Ford. A woman's experience should never be valued less than a man’s career.
Full statement below:
4:44 AM - Sep 18, 2018
12:20 p.m.: Grassley says Ford deserves to be heard
Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, said in a statement that anyone who comes forward as Ford does should be heard — but stopped short of suggesting testifying before the full committee. Ford has expressed a willingness to speak before the committee, as has Kavanaugh.
"Anyone who comes forward as Dr. Ford has deserves to be heard, so I will continue working on a way to hear her out in an appropriate,precedented and respectful manner," Grassley said. "The standard procedure for updates to any nominee's background investigation file is to conduct separate follow-up calls with relevant parties."
"In this case, that would entail phone calls with at least Judge Kavanaugh and Dr. Ford," Grassley continued. "Consistent with that practice, I asked Senator Feinstein's office yesterday to join me in scheduling these follow-ups. Thus far, they have refused. But as a necessary step in evaluating these claims, I'll continue working to set them up."
12:03 p.m.: Conservative group launches $1.5 million ad campaign for Kavanaugh
A spokeswoman for the Judicial Crisis Network, which has been working to help confirm Kavanaugh, confirmed the group will be announcing a $1.5 million cable and broadcast TV ad blitz to support Kavanaugh. It will feature a 35-year friend of Kavanaugh.
"We are not going to allow a last-minute smear campaign destroy a good and decent man who has an unblemished personal record," the spokeswoman said.
12:03 p.m.: Sen. Susan Collins says Ford and Kavanaugh should testify under oath
Sen. Susan Collins, one of the Republicans her own party has been working to ensure votes for Kavanaugh, tweeted that she wants both Ford and Kavanaugh to testify under oath in front of the Senate Judiciary Committee.
"Professor Ford and Judge Kavanaugh should both testify under oath before the Judiciary Committee," she wrote.
11:34 a.m.: FBI reiterates there is no investigation into Kavanaugh
Asked whether the FBI is investigating the Kavanaugh allegation, the FBI said, as it did last week, that there is no FBI investigation. The FBI pointed CBS News back to its statement from last week:
"Upon receipt of the information on the night of September 12, we included it as part of Judge Kavanaugh's background file, as per the standard process," the FBI repeated.
10:11 a.m.: Kavanaugh issues new denial statement:
Kavanaugh issued a new denial Monday morning in response to a woman's allegation that he assaulted her when they were both in high school. Kavanaugh said he's willing to "refute" her "false allegation" before the Senate Judiciary Committee "in any way the committee deems appropriate."
Kavanaugh had issued a flat denial of claims outlined in a letter Ford sent to Democrats, but in his new statement, Kavanaugh said he had no idea who had made the accusation "until she identified herself yesterday." The White House is standing by Kavanaugh's initial denial.
"This is a completely false allegation," Kavanaugh said in a statement Monday morning. "I have never done anything like what the accuser describes—to her or to anyone. Because this never happened, I had no idea who was making this accusation until she identified herself yesterday. I am willing to talk to the Senate Judiciary Committee in any way the committee deems appropriate to refute this false allegation, from 36 years ago, and defend my integrity."
It's unclear whether the willingness to testify expressed from both Ford and Kavanaugh will delay the confirmation process. As of Sunday afternoon, Senate Judiciary Committee Chairman Chuck Grassley intended to move forward with the committee vote as planned. But some Republicans, not to mention Democrats, have expressed they want to hear from Ford first, and the Senate is out of session Wednesday for the Jewish holiday Yom Kippur.
Wall Street Fears the End of an Era - Bloomberg
Wall Street Fears the End of an Era
By Alastair Marsh
September 19, 2018, 2:00 PM GMT+10
Bank trading heads say funds now have access to trading data
Banks’ complaints highlight scramble for profit in debt world
The masters of the corporate-bond world believe one of their few remaining preserves is slipping away. But they’re not letting it go without a fight.
Credit traders at some of the world’s largest banks are convinced hedge funds and brokers have penetrated their members-only club. The claim -- based on interviews with more than 16 bankers, including seven who head trading desks -- is that rivals and even clients are now accessing information from trading platforms that have long been the exclusive domain of the banks.
These wholesale trading venues are operated by firms known as interdealer brokers. And according to practices developed over decades, they were used solely by big banks that have served as the primary market makers for institutional investors looking to trade corporate bonds and other debt.
The platforms allow the banks to anonymously unload unwanted positions or source bonds from each other, as well as gain pricing intelligence. Effectively, this has helped the banks maintain a significant amount of control over who gets what and how much is paid in a marketplace that now trades more than $30 billion a day.
New Rules
But post-crisis regulations that curbed the banks’ ability to take risks -- while ushering in a wave of new trading venues -- diminished the banks’ role. What has followed is a brutish world where bankers, investors and smaller brokers jostle for influence and profits.
“The banks are trying to defend their turf and maintain the advantages they used to enjoy,” said Suki Mann, a debt-market analyst who previously ran credit strategy in Europe for Societe Generale SA and UBS Group AG. “But they’re fighting a losing battle.”
Caught in the middle of all of this are the interdealer firms, such as TP ICAP Plc, BGC Partners Inc. and Cie. Financiere Tradition SA. They’re fighting for a share of a shrinking pie while trying not to alienate their primary clients -- the banks.
Credit traders at 11 of the world’s largest banks -- including some that head trading desks -- said that they’re convinced that pressures faced by the interdealer brokers to boost commissions is prompting them to let investors and brokers onto platforms where dealers trade -- giving them access to a bigger universe of product and prices.
Market Conventions
The traders, who asked not to be identified because they’re not authorized to talk about their business operations, based those suspicions on trades they saw on the platforms and client queries about trades. The head of a credit trading unit at a U.S. bank also said a hedge fund client told him that they had access to the platforms.
The traders aren’t claiming any laws are being broken. But they say that -- in addition to their own profits -- it’s threatening long-standing conventions that have helped maintain market integrity and liquidity. One senior trader at a French lender said banks often try to buy or sell bonds for clients in the interdealer market, and if those investors are also present on the platforms then their ability to trade will decrease.
Spokesmen for TP ICAP, BGC and Tradition declined to comment on the bankers’ claims about their industry. Four credit brokers employed at interdealer firms spoke to Bloomberg News, asking not to be identified because they’re not allowed to talk about their business dealings. They said they hadn’t seen first-hand evidence of non-bank entities trading on their platforms.
Bloomberg LP, the parent of Bloomberg News, also offers bond-trading services to banks and fund managers.
Higher Costs
The tensions emerged after new rules intended to prevent another financial crisis forced banks to pull back from some risky trading activities. The regulations also made it costlier for them to facilitate trades by holding debt on their own balance sheets or maintaining large warehouses of securities.
As the banks’ roles were reduced, that allowed others to step in -- namely smaller brokerage firms that simply match buyers and sellers without taking assets on to their balance sheets. Investment firms, like asset managers and hedge funds, have also increased trading among themselves since they can no longer rely on deposit-taking giants to always help them enter or exit a trade.
Out of Bonds
Banks now hold far fewer corporate bonds than they did before the financial crisis
One trader at a unit of an interdealer broker who asked not to be identified because he is not authorized to speak publicly, said hedge funds should be able to trade on the interdealer platforms. Since banks provide considerably less liquidity than they used to, funds shouldn’t have to rely only on investment banks to help them find the other side of a trade, he said.
“I don’t think we should put restrictions on who can deal on what platform to favor particular groups,” said Brian Scott-Quinn, the non-executive chairman of the ICMA Centre, part of Henley Business School at the University of Reading, England. “That creates a bifurcated market and is just plain wrong. Just because the banks had privileges in the past they think they should continue to have them, but if they don’t provide adequate liquidity anymore, then those benefits should disappear.”
The interdealer firms, which earn commission for every trade they match, enjoyed their best years before the financial crisis, and also had strong trading volumes immediately afterward as banks unwound unprofitable positions. Since then, growth has stalled.
* Includes revenue from some electronic services; ** Includes revenue from hybrid platforms such as iSwap; *** TP ICAP stops reporting separate revenue numbers for ICAP and Tullett
ICAP does have a trading portal specifically for investment firms and its parent has said a division that serves asset managers and hedge funds will help the company increase revenues.
The tension spilled over earlier this year.
In May, a senior high-yield bond trader at Credit Suisse Group AG in London refused to trade through ICAP after he believed he had been the victim of a copycat trade, according to people familiar with the matter. Within minutes of making a price in a bond of a European retailer on an ICAP platform, the Credit Suisse trader was told that a trader at a brokerage firm had sent a similar price for a comparable size of trade in the same security to its customers, said the people, who asked not to be identified because the information is private.
The trader’s boycott lasted six weeks until ICAP wrote to Credit Suisse, its biggest client for European junk bond trades, saying it will not allow brokers on its platform, the people said.
“This is an inaccurate description of events,” said a spokesman for Credit Suisse. “No such trade occurred. Our traders have not stopped using this particular platform at any point.”
The spokesman for TP ICAP, which was formed by Tullett Prebon Plc’s takeover of ICAP Plc’s voice-broking business at the end of 2016, declined to comment on the incident.
“It’s not a very pleasant time, whether you’re in a bank or a hedge fund,” said Derrick Herndon, who has run credit businesses in New York and London for Credit Suisse, Toronto-Dominion Bank and UBS Group AG. “Both sides are pointing at each other, but it’s a deeper issue than banks just don’t have market clout the way they used to.”
— With assistance by Will Hadfield
By Alastair Marsh
September 19, 2018, 2:00 PM GMT+10
Bank trading heads say funds now have access to trading data
Banks’ complaints highlight scramble for profit in debt world
The masters of the corporate-bond world believe one of their few remaining preserves is slipping away. But they’re not letting it go without a fight.
Credit traders at some of the world’s largest banks are convinced hedge funds and brokers have penetrated their members-only club. The claim -- based on interviews with more than 16 bankers, including seven who head trading desks -- is that rivals and even clients are now accessing information from trading platforms that have long been the exclusive domain of the banks.
These wholesale trading venues are operated by firms known as interdealer brokers. And according to practices developed over decades, they were used solely by big banks that have served as the primary market makers for institutional investors looking to trade corporate bonds and other debt.
The platforms allow the banks to anonymously unload unwanted positions or source bonds from each other, as well as gain pricing intelligence. Effectively, this has helped the banks maintain a significant amount of control over who gets what and how much is paid in a marketplace that now trades more than $30 billion a day.
New Rules
But post-crisis regulations that curbed the banks’ ability to take risks -- while ushering in a wave of new trading venues -- diminished the banks’ role. What has followed is a brutish world where bankers, investors and smaller brokers jostle for influence and profits.
“The banks are trying to defend their turf and maintain the advantages they used to enjoy,” said Suki Mann, a debt-market analyst who previously ran credit strategy in Europe for Societe Generale SA and UBS Group AG. “But they’re fighting a losing battle.”
Caught in the middle of all of this are the interdealer firms, such as TP ICAP Plc, BGC Partners Inc. and Cie. Financiere Tradition SA. They’re fighting for a share of a shrinking pie while trying not to alienate their primary clients -- the banks.
Credit traders at 11 of the world’s largest banks -- including some that head trading desks -- said that they’re convinced that pressures faced by the interdealer brokers to boost commissions is prompting them to let investors and brokers onto platforms where dealers trade -- giving them access to a bigger universe of product and prices.
Market Conventions
The traders, who asked not to be identified because they’re not authorized to talk about their business operations, based those suspicions on trades they saw on the platforms and client queries about trades. The head of a credit trading unit at a U.S. bank also said a hedge fund client told him that they had access to the platforms.
The traders aren’t claiming any laws are being broken. But they say that -- in addition to their own profits -- it’s threatening long-standing conventions that have helped maintain market integrity and liquidity. One senior trader at a French lender said banks often try to buy or sell bonds for clients in the interdealer market, and if those investors are also present on the platforms then their ability to trade will decrease.
Spokesmen for TP ICAP, BGC and Tradition declined to comment on the bankers’ claims about their industry. Four credit brokers employed at interdealer firms spoke to Bloomberg News, asking not to be identified because they’re not allowed to talk about their business dealings. They said they hadn’t seen first-hand evidence of non-bank entities trading on their platforms.
Bloomberg LP, the parent of Bloomberg News, also offers bond-trading services to banks and fund managers.
Higher Costs
The tensions emerged after new rules intended to prevent another financial crisis forced banks to pull back from some risky trading activities. The regulations also made it costlier for them to facilitate trades by holding debt on their own balance sheets or maintaining large warehouses of securities.
As the banks’ roles were reduced, that allowed others to step in -- namely smaller brokerage firms that simply match buyers and sellers without taking assets on to their balance sheets. Investment firms, like asset managers and hedge funds, have also increased trading among themselves since they can no longer rely on deposit-taking giants to always help them enter or exit a trade.
Out of Bonds
Banks now hold far fewer corporate bonds than they did before the financial crisis
One trader at a unit of an interdealer broker who asked not to be identified because he is not authorized to speak publicly, said hedge funds should be able to trade on the interdealer platforms. Since banks provide considerably less liquidity than they used to, funds shouldn’t have to rely only on investment banks to help them find the other side of a trade, he said.
“I don’t think we should put restrictions on who can deal on what platform to favor particular groups,” said Brian Scott-Quinn, the non-executive chairman of the ICMA Centre, part of Henley Business School at the University of Reading, England. “That creates a bifurcated market and is just plain wrong. Just because the banks had privileges in the past they think they should continue to have them, but if they don’t provide adequate liquidity anymore, then those benefits should disappear.”
The interdealer firms, which earn commission for every trade they match, enjoyed their best years before the financial crisis, and also had strong trading volumes immediately afterward as banks unwound unprofitable positions. Since then, growth has stalled.
* Includes revenue from some electronic services; ** Includes revenue from hybrid platforms such as iSwap; *** TP ICAP stops reporting separate revenue numbers for ICAP and Tullett
ICAP does have a trading portal specifically for investment firms and its parent has said a division that serves asset managers and hedge funds will help the company increase revenues.
The tension spilled over earlier this year.
In May, a senior high-yield bond trader at Credit Suisse Group AG in London refused to trade through ICAP after he believed he had been the victim of a copycat trade, according to people familiar with the matter. Within minutes of making a price in a bond of a European retailer on an ICAP platform, the Credit Suisse trader was told that a trader at a brokerage firm had sent a similar price for a comparable size of trade in the same security to its customers, said the people, who asked not to be identified because the information is private.
The trader’s boycott lasted six weeks until ICAP wrote to Credit Suisse, its biggest client for European junk bond trades, saying it will not allow brokers on its platform, the people said.
“This is an inaccurate description of events,” said a spokesman for Credit Suisse. “No such trade occurred. Our traders have not stopped using this particular platform at any point.”
The spokesman for TP ICAP, which was formed by Tullett Prebon Plc’s takeover of ICAP Plc’s voice-broking business at the end of 2016, declined to comment on the incident.
“It’s not a very pleasant time, whether you’re in a bank or a hedge fund,” said Derrick Herndon, who has run credit businesses in New York and London for Credit Suisse, Toronto-Dominion Bank and UBS Group AG. “Both sides are pointing at each other, but it’s a deeper issue than banks just don’t have market clout the way they used to.”
— With assistance by Will Hadfield
'Very Exciting!' President Trump Praises Kim Jong Un for Pledge to Denuclearize - NBC News
Sept. 19, 2018.
'Very Exciting!' President Trump Praises Kim Jong Un for Pledge to Denuclearize
Eli Meixler
President Trump expressed his support Wednesday after North Korean leader Kim Jong Un pledged to reduce his country's nuclear capabilities at a summit this week with southern counterpart, at which denuclearization is high on the agenda.
Kim agreed Wednesday to permanently dismantle his Nyongbyon nuclear facility pending reciprocal measures from the U.S., according to South Korean President Moon Jae In.
"Very exciting!" Trump said at the end of a pair of late-night tweets, which also touted the return of the remains of American Korean War casualties and an announced proposal for North and South Korea to jointly host the 2032 Summer Olympics.
Donald J. Trump
✔
@realDonaldTrump
Kim Jong Un has agreed to allow Nuclear inspections, subject to final negotiations, and to permanently dismantle a test site and launch pad in the presence of international experts. In the meantime there will be no Rocket or Nuclear testing. Hero remains to continue being........
2:04 PM - Sep 19, 2018
Donald J. Trump
✔
@realDonaldTrump
....returned home to the United States. Also, North and South Korea will file a joint bid to host the 2032 Olympics. Very exciting!
2:11 PM - Sep 19, 2018
Kim and Moon are meeting in the North Korean capital for a three-day summit, their third this year, amid a diplomatic impasse between Pyongyang and Washington. On Wednesday, the Korean leaders signed a joint statement supporting a nuclear weapon-free peninsula to "eliminate all the danger of war," the Associated Press reports. In a rare gesture of transparency, Kim also agreed to allow international inspectors to monitor the closure of a missile engine test site and launch pad .
"We have agreed to make the Korean Peninsula a land of peace that is free from nuclear weapons and nuclear threat," Kim said at a joint press conference with Moon on Wednesday, according to AP.Kim has repeatedly stated a commitment to denuclearization, and has dismantled other facilities since he met with President Trump at a landmark summit in Singapore in June. But Washington has said that North Korea is still producing nuclear fissile material. As recently as July, the country was also making "rapid" infrastructure improvements at Nyongbyon, according to North Korea monitoring group 38 North.
'Least impressive sex I ever had': Stormy Daniels tells all about Trump in bombshell book - MSNBC News
'Least impressive sex I ever had': Stormy Daniels tells all about Trump in bombshell book
The book, titled "Full Disclosure," was obtained ahead of its Oct. 2 release by The Guardian newspaper.
by Adam Edelman / Sep.18.2018 / 11:41 PM ET
2018 Adult Video News Awards - Arrivals
Adult film actress/director Stormy Daniels attends the 2018 Adult Video News Awards in Las Vegas.Gabe Ginsberg / Getty Images file
Adult film star Stormy Daniels, who claims she had an affair with President Donald Trump more than a decade ago and is suing the president, described sex with the future commander in chief as "the least impressive sex I’d ever had" in a new book.
The book, titled "Full Disclosure," was obtained ahead of its Oct. 2 release by The Guardian newspaper. NBC News has not obtained the book.
"It may have been the least impressive sex I'd ever had, but clearly, he didn't share that opinion," she wrote, according to The Guardian.
Daniels had lingering remorse over the experience for years, writing that any time she'd see Trump on television, she'd think: "I had sex with that, I’d say to myself. Eech."
The White House had no immediate comment about the new book.
Victory for Stormy Daniels as Trump, Cohen give up on hush deal
SEP.11.201802:51
After the tryst with Daniels, Trump promised to put her on his "The Apprentice" reality show, Daniels writes in the book, according to The Guardian, and even indicated he would fix the results in her favor to have her last on the show.
"We'll figure out a way to get you the challenges beforehand," Daniels quoted Trump has having told her. "And we can devise your technique."
"He was going to have me cheat, and it was 100 percent his idea," she wrote, according to The Guardian.
Trump can't use FEMA's wireless alerts to send personal messages — it's illegal
FEMA's 'Presidential Alert' test postponed as some Americans want to disconnect
Years later, when Trump would decide to run for president, Daniels repeatedly dismissed the idea he could win — until, of course, he eventually did.
"It will never happen, I would say," Daniels wrote. "He doesn’t even want to be president."
Daniels, whose real name is Stephanie Clifford, also describes Trump’s sex organs in graphic detail.
Daniels has suggested she had a one-time sexual encounter with Trump in a hotel room. She alleged in a civil lawsuit that she and Trump had an "intimate relationship" that lasted from summer 2006 "well into the year 2007" and which included meetings in Lake Tahoe and at the Beverly Hills Hotel. The White House denies Trump had an affair with her.
But Trump's private attorney, Michael Cohen, admitted in February he had paid her $130,000 — which she says was to buy her silence over the "intimate relationship." NBC News reported in April that Daniels is cooperating with federal investigators as part of their criminal investigation into Cohen.
In May, Trump said Daniels was paid to stop "false and extortionist accusations" she made about a sexual encounter with him. Trump has forcefully denied the affair. Daniels has filed two lawsuits against Trump, one to get out of a nondisclosure agreement she signed in October 2016 ahead of the November presidential election in exchange for the $130,000, and another for defamation.
Christine Blasey Ford: Kavanaugh accuser 'faces death threats' - BBC News
Sept. 19, 2018.
Christine Blasey Ford: Kavanaugh accuser 'faces death threats'
Christine Blasey Ford says Brett Kavanaugh attacked her when he was a teenager
The woman who accuses US Supreme Court nominee Brett Kavanaugh of attempting to rape her will not testify to the Senate next week, her lawyer says.
Christine Blasey Ford's attorney told CNN her client has been "deflecting death threats and harassment".
Lawyer Lisa Banks said before her client goes to Congress, she wants an FBI investigation into Judge Kavanaugh.
The nominee, who denies the claim, has met officials at the White House for a second day.
The truth about false assault accusations
Prof Ford, a psychology lecturer in California, has accused Judge Kavanaugh of drunkenly trying to remove her clothing in 1982 when they were both teenagers in a Washington DC suburb.
She says he pinned her to a bed and clamped his hand over her mouth when she attempted to scream.
Judge Kavanaugh, 53, has called the allegation "completely false".
Why won't Prof Ford testify?
Prof Ford's legal team say they have written to the Senate Judiciary Committee declining its offer to testify.
Her lawyer told CNN on Tuesday night: "It's premature to talk about a hearing on Monday because she [Prof Ford] has been dealing with the threats, the harassment and the safety of her family and that's what she's been focused on for the last couple of days."
She said that since going public with her allegation in the Washington Post on Sunday, Prof Ford has been trying to work out where her family are going to sleep at night.
Why is the US top court so important?
Meet the Supremes - who are the justices?
The legal team's letter says that Prof Ford's family has been forced to move out of their home, her email has been hacked and she has been impersonated online.
The correspondence says "a full investigation by law enforcement officials will ensure that the crucial facts and witnesses in this matter are assessed in a non-partisan manner, and that the Committee is fully informed before conducting any hearing or making any decisions".
Senate Judiciary Committee Chairman Chuck Grassley later said that there was no reason to delay Prof Ford's testimony as the aim would be to establish "her personal knowledge and memory of events".
"Nothing the FBI or any other investigator does would have any bearing on what Dr Ford tells the committee," he said in a statement.
What has the reaction been?
Republican Senator Lindsey Graham, of South Carolina, said that if Prof Ford did not appear to testify on Monday, "we are going to move on and vote [on the nominee for the Supreme Court] on Wednesday".
"They've had tons of time to do this," he said, adding: "This has been a drive-by shooting when it comes to Kavanaugh, I'll listen to the lady, but we're going to bring this to a close."
Senator Rob Portman, a Republican from Ohio, said the process was "very unfair" and that he did not blame Prof Ford, instead blaming "Democrats who misused this process".
Chuck Schumer, the top Senate Democrat, said he supported the call for an FBI investigation prior to the hearing.
In a statement he urged Senate Republicans and the White House to "drop their inexplicable opposition" to it and "allow all facts to come out".
Senator Mazie Hirono urged "the men in this country" to "do the right thing for a change"
Hawaii Democrat Mazie Hirono said "the men in this country" should "just shut up".
"Not only do women like Dr Ford, who bravely comes forward, need to be heard, but they need to be believed," she told a press conference.
Separately, the FBI declined to comment after the letter was made public on Tuesday.
What has Trump said about Kavanaugh?
US President Donald Trump, who reportedly did not meet Mr Kavanaugh on Tuesday, expressed sympathy for his nominee.
"I feel so badly for him that he's going through this, to be honest with you," the Republican president told a news conference. "This is not a man that deserves this."
He added: "Hopefully the woman will come forward, state her case. He will state his case before representatives of the United States Senate. And then they will vote."
Mr Trump also appeared to suggest that the controversy was being exploited by Democrats as lawmakers looked to delay the Supreme Court vote.
"The Supreme Court is one of the main reasons I got elected President. I hope Republican voters, and others, are watching, and studying, the Democrats Playbook," he tweeted.
'One of the finest people that I've ever known'
Meanwhile Mark Judge, a friend of Judge Kavanaugh who Prof Ford says witnessed the alleged incident, has said he does not want to speak publicly about the matter.
"Brett Kavanaugh and I were friends in high school but I do not recall the party described in Dr Ford's letter," he is quoted as saying in a letter from his lawyer.
What is at stake?
Republicans control the Senate by only a narrow 51-49 margin, meaning any defections could scupper the Supreme Court nomination.
That would set back President Trump's efforts to install more conservatives on the Supreme Court and broader US judiciary.
If confirmed, Judge Kavanaugh, a conservative federal appeals court judge, would be expected to tilt the court's balance further to the right.
The ugly confirmation battle could shake up the forthcoming mid-term elections.
Democrats are hoping to wrest control of Congress from Mr Trump's fellow Republicans on 6 November, dealing a serious blow to the president's efforts to install more conservatives on the Supreme Court and broader US judiciary.
Christine Blasey Ford: Kavanaugh accuser 'faces death threats'
Christine Blasey Ford says Brett Kavanaugh attacked her when he was a teenager
The woman who accuses US Supreme Court nominee Brett Kavanaugh of attempting to rape her will not testify to the Senate next week, her lawyer says.
Christine Blasey Ford's attorney told CNN her client has been "deflecting death threats and harassment".
Lawyer Lisa Banks said before her client goes to Congress, she wants an FBI investigation into Judge Kavanaugh.
The nominee, who denies the claim, has met officials at the White House for a second day.
The truth about false assault accusations
Prof Ford, a psychology lecturer in California, has accused Judge Kavanaugh of drunkenly trying to remove her clothing in 1982 when they were both teenagers in a Washington DC suburb.
She says he pinned her to a bed and clamped his hand over her mouth when she attempted to scream.
Judge Kavanaugh, 53, has called the allegation "completely false".
Why won't Prof Ford testify?
Prof Ford's legal team say they have written to the Senate Judiciary Committee declining its offer to testify.
Her lawyer told CNN on Tuesday night: "It's premature to talk about a hearing on Monday because she [Prof Ford] has been dealing with the threats, the harassment and the safety of her family and that's what she's been focused on for the last couple of days."
She said that since going public with her allegation in the Washington Post on Sunday, Prof Ford has been trying to work out where her family are going to sleep at night.
Why is the US top court so important?
Meet the Supremes - who are the justices?
The legal team's letter says that Prof Ford's family has been forced to move out of their home, her email has been hacked and she has been impersonated online.
The correspondence says "a full investigation by law enforcement officials will ensure that the crucial facts and witnesses in this matter are assessed in a non-partisan manner, and that the Committee is fully informed before conducting any hearing or making any decisions".
Senate Judiciary Committee Chairman Chuck Grassley later said that there was no reason to delay Prof Ford's testimony as the aim would be to establish "her personal knowledge and memory of events".
"Nothing the FBI or any other investigator does would have any bearing on what Dr Ford tells the committee," he said in a statement.
What has the reaction been?
Republican Senator Lindsey Graham, of South Carolina, said that if Prof Ford did not appear to testify on Monday, "we are going to move on and vote [on the nominee for the Supreme Court] on Wednesday".
"They've had tons of time to do this," he said, adding: "This has been a drive-by shooting when it comes to Kavanaugh, I'll listen to the lady, but we're going to bring this to a close."
Senator Rob Portman, a Republican from Ohio, said the process was "very unfair" and that he did not blame Prof Ford, instead blaming "Democrats who misused this process".
Chuck Schumer, the top Senate Democrat, said he supported the call for an FBI investigation prior to the hearing.
In a statement he urged Senate Republicans and the White House to "drop their inexplicable opposition" to it and "allow all facts to come out".
Senator Mazie Hirono urged "the men in this country" to "do the right thing for a change"
Hawaii Democrat Mazie Hirono said "the men in this country" should "just shut up".
"Not only do women like Dr Ford, who bravely comes forward, need to be heard, but they need to be believed," she told a press conference.
Separately, the FBI declined to comment after the letter was made public on Tuesday.
What has Trump said about Kavanaugh?
US President Donald Trump, who reportedly did not meet Mr Kavanaugh on Tuesday, expressed sympathy for his nominee.
"I feel so badly for him that he's going through this, to be honest with you," the Republican president told a news conference. "This is not a man that deserves this."
He added: "Hopefully the woman will come forward, state her case. He will state his case before representatives of the United States Senate. And then they will vote."
Mr Trump also appeared to suggest that the controversy was being exploited by Democrats as lawmakers looked to delay the Supreme Court vote.
"The Supreme Court is one of the main reasons I got elected President. I hope Republican voters, and others, are watching, and studying, the Democrats Playbook," he tweeted.
'One of the finest people that I've ever known'
Meanwhile Mark Judge, a friend of Judge Kavanaugh who Prof Ford says witnessed the alleged incident, has said he does not want to speak publicly about the matter.
"Brett Kavanaugh and I were friends in high school but I do not recall the party described in Dr Ford's letter," he is quoted as saying in a letter from his lawyer.
What is at stake?
Republicans control the Senate by only a narrow 51-49 margin, meaning any defections could scupper the Supreme Court nomination.
That would set back President Trump's efforts to install more conservatives on the Supreme Court and broader US judiciary.
If confirmed, Judge Kavanaugh, a conservative federal appeals court judge, would be expected to tilt the court's balance further to the right.
The ugly confirmation battle could shake up the forthcoming mid-term elections.
Democrats are hoping to wrest control of Congress from Mr Trump's fellow Republicans on 6 November, dealing a serious blow to the president's efforts to install more conservatives on the Supreme Court and broader US judiciary.
North Korea agrees to shut missile site, says Moon - BBC News
Sept. 19, 2018.
North Korea agrees to shut missile site, says Moon
Moon Jae-in and Kim Jong-un signed what they say is 'a leap forward'
North Korean leader Kim Jong-un has agreed to shut one of the country's main missile testing and launch sites, says the South's President Moon Jae-in.
After meeting in Pyongyang, the two leaders "agreed on a way to achieve denuclearisation," said Mr Moon.
The agreement was described by Mr Kim as a "leap forward" towards military peace on the peninsula.
Mr Kim also said he hoped to "visit Seoul in the near future" - he would be the first North Korean leader to do so.
Summit results: Denuclearisation
The main focus of the summit was the issue of denuclearisation. While the US and North Korea agreed in broad terms earlier this year to work towards that goal, negotiations have stalled.
Pyongyang has now sought to reconfirm its commitment.
The war that never officially ended
Mr Moon said Mr Kim had "agreed to permanently close the Tongchang-ri missile engine test site and missile launch facility" and, crucially, that this would be done "in the presence of experts from relevant nations".
Korea summit puts diplomacy back on track
The BBC's Seoul correspondent Laura Bicker said allowing independent inspectors to see the dismantling of the Tongchang-ri site was a major step forward.
She added that satellite images had suggested that Tongchang-ri was in the process of being destroyed, but that the declaration would allow inspectors to verify the process.
Tongchang-ri has been North Korea's main satellite launch facility since 2012, according to monitoring group 38 North.
It has also been used for testing engines for North Korean missiles capable of reaching the US.
Read more on North Korea's missile and nuclear programme
He said Mr Kim had also agreed to shut down the Yongbyon nuclear facility - where North Korea is believed to have produced the material used in its nuclear tests - but only if the US took some reciprocal action. The details of that were not specified.
North Korea blew up its main nuclear testing site at Punggye-ri shortly before Mr Kim's meeting with US President Donald Trump in June.
"The outcome is a big win for Moon Jae-in, who has managed to extract a series of positive headlines from Kim Jong-un related to denuclearisation," Ankit Panda, editor of The Diplomat, told the BBC.
"None of the concessions are truly costly to Kim and won't help move North Korea toward short-term disarmament, but provide a further basis for confidence building on which US-North Korea talks can move forward."
Summit results: North and South relations
The two countries also made advances on inter-Korean ties, announcing plans to link up their railways, allow more reunions for families separated by war and co-operate on health care.
Mr Moon invited the North Korean leader to Seoul, suggesting the visit should take place before the end of this year.
They will also seek to co-host the 2032 Summer Olympics.
How North Korea welcomed the South Korean leader
The South's defence minister and the head of the North Korean army also signed an agreement to reduce military tensions, establishing a buffer zone along the border to prevent accidental clashes.
The signing came mid-way through a three-day visit to Pyongyang by Mr Moon.
While it is the first trip to the North Korean capital in a decade by a leader from the South, it is Mr Moon's third meeting with Kim Jong-un since their historic summit in April.
Sanitizers, salutes and other Korea summit moments
Kim Jong-un: King of Pyongyang
Will historic Koreas summit lead to peace?
What does this mean for the US?
Efforts towards denuclearisation between the North and the US had recently hit a deadlock and this week's Pyongyang summit will bolster the South's role as a mediator.
Mr Trump was quick to tweet his applause for the Moon-Kim summit.
The US and North Korea held their own historic meeting in June when Mr Trump and Mr Kim agreed in broad terms to work towards denuclearisation.
Since then though, there's been little progress with no clear process nor timeline laid out.
The June Trump-Kim summit has so far yielded limited results
Most observers warn that so far the North has taken no meaningful steps to end its controversial nuclear weapons programme and this week's summit might not be enough to convince them otherwise.
The stories behind Korean family reunions
Imagine a North Korean family...
Six months' training for 10 minutes on parade
"For instance, the commitment to shutting down the Yongbyon complex is premised on reciprocal US measures, which raises difficulties," warns Mr Panda. "Washington will have to help move the needle here and it's unclear if the Trump administration can do that."
Mr Trump recently said that he and Mr Kim would "prove everyone wrong", after he received an invitation from the North Korean leader for a second summit. Both sides say they are working on making that meeting happen.
North Korea agrees to shut missile site, says Moon
Moon Jae-in and Kim Jong-un signed what they say is 'a leap forward'
North Korean leader Kim Jong-un has agreed to shut one of the country's main missile testing and launch sites, says the South's President Moon Jae-in.
After meeting in Pyongyang, the two leaders "agreed on a way to achieve denuclearisation," said Mr Moon.
The agreement was described by Mr Kim as a "leap forward" towards military peace on the peninsula.
Mr Kim also said he hoped to "visit Seoul in the near future" - he would be the first North Korean leader to do so.
Summit results: Denuclearisation
The main focus of the summit was the issue of denuclearisation. While the US and North Korea agreed in broad terms earlier this year to work towards that goal, negotiations have stalled.
Pyongyang has now sought to reconfirm its commitment.
The war that never officially ended
Mr Moon said Mr Kim had "agreed to permanently close the Tongchang-ri missile engine test site and missile launch facility" and, crucially, that this would be done "in the presence of experts from relevant nations".
Korea summit puts diplomacy back on track
The BBC's Seoul correspondent Laura Bicker said allowing independent inspectors to see the dismantling of the Tongchang-ri site was a major step forward.
She added that satellite images had suggested that Tongchang-ri was in the process of being destroyed, but that the declaration would allow inspectors to verify the process.
Tongchang-ri has been North Korea's main satellite launch facility since 2012, according to monitoring group 38 North.
It has also been used for testing engines for North Korean missiles capable of reaching the US.
Read more on North Korea's missile and nuclear programme
He said Mr Kim had also agreed to shut down the Yongbyon nuclear facility - where North Korea is believed to have produced the material used in its nuclear tests - but only if the US took some reciprocal action. The details of that were not specified.
North Korea blew up its main nuclear testing site at Punggye-ri shortly before Mr Kim's meeting with US President Donald Trump in June.
"The outcome is a big win for Moon Jae-in, who has managed to extract a series of positive headlines from Kim Jong-un related to denuclearisation," Ankit Panda, editor of The Diplomat, told the BBC.
"None of the concessions are truly costly to Kim and won't help move North Korea toward short-term disarmament, but provide a further basis for confidence building on which US-North Korea talks can move forward."
Summit results: North and South relations
The two countries also made advances on inter-Korean ties, announcing plans to link up their railways, allow more reunions for families separated by war and co-operate on health care.
Mr Moon invited the North Korean leader to Seoul, suggesting the visit should take place before the end of this year.
They will also seek to co-host the 2032 Summer Olympics.
How North Korea welcomed the South Korean leader
The South's defence minister and the head of the North Korean army also signed an agreement to reduce military tensions, establishing a buffer zone along the border to prevent accidental clashes.
The signing came mid-way through a three-day visit to Pyongyang by Mr Moon.
While it is the first trip to the North Korean capital in a decade by a leader from the South, it is Mr Moon's third meeting with Kim Jong-un since their historic summit in April.
Sanitizers, salutes and other Korea summit moments
Kim Jong-un: King of Pyongyang
Will historic Koreas summit lead to peace?
What does this mean for the US?
Efforts towards denuclearisation between the North and the US had recently hit a deadlock and this week's Pyongyang summit will bolster the South's role as a mediator.
Mr Trump was quick to tweet his applause for the Moon-Kim summit.
The US and North Korea held their own historic meeting in June when Mr Trump and Mr Kim agreed in broad terms to work towards denuclearisation.
Since then though, there's been little progress with no clear process nor timeline laid out.
The June Trump-Kim summit has so far yielded limited results
Most observers warn that so far the North has taken no meaningful steps to end its controversial nuclear weapons programme and this week's summit might not be enough to convince them otherwise.
The stories behind Korean family reunions
Imagine a North Korean family...
Six months' training for 10 minutes on parade
"For instance, the commitment to shutting down the Yongbyon complex is premised on reciprocal US measures, which raises difficulties," warns Mr Panda. "Washington will have to help move the needle here and it's unclear if the Trump administration can do that."
Mr Trump recently said that he and Mr Kim would "prove everyone wrong", after he received an invitation from the North Korean leader for a second summit. Both sides say they are working on making that meeting happen.
Tuesday, September 18, 2018
Trump Jr. mocks woman accusing Brett Kavanaugh of sexual assault on Instagram - Independent
Trump Jr. mocks woman accusing Brett Kavanaugh of sexual assault on Instagram
Posted about 24 hours ago by Louis Staples in news
UPVOTE
President Donald Trump’s son, Donald Trump Jr, has waded into the argument surrounding the confirmation of Brett Kanavaugh into the US Supreme Court.
Trump Jr. mocked Democrats for their reaction to sexual misconduct accusations made against his father’s nominee.
Posting on Instagram, he said:
Oh boy... the Dems and their usual nonsense games really have him on the ropes now.
[Sen. Dianne Feinstein (D-Calif.)] had the letter in July and saved it for the eve of his vote... honorable as always. I believe this is a copy for full transparency.
He accompanied the post with a picture that appeared to show children’s handwriting that read: “Hi Cindy, will you be my girlfriend".
His post references a letter that was sent anonymously to US senator Dianne Feinstein earlier this year. The letter, which was later revealed to have been sent by California professor Christine Ford, claims that Kavanaugh assaulted her during a party in high school 30 years ago.
Ford alleged that as a high school student in suburban Maryland, just outside of Washington, a "stumbling drunk" Kavanaugh pinned her down, groped her and attempted to remove her clothing.
The allegations have plunged Kavanaugh’s extremely contentious nomination process into yet more uncertainty, with senior politicians and commentators demanding the allegations against him be investigated before senators decide whether he is fit to serve as a Supreme Court judge.
Judiciary Committee chairman Chuck Grassley has reportedly requested phone calls with Kavanaugh and his accuser before the confirmation vote.
Since he was announced as Trump’s nominee, pro-choice advocates have voiced concern that Kavanaugh will move to overturn Roe v Wade, the landmark Supreme Court ruling issued in 1973 that legalised abortion across the US.
Posted about 24 hours ago by Louis Staples in news
UPVOTE
President Donald Trump’s son, Donald Trump Jr, has waded into the argument surrounding the confirmation of Brett Kanavaugh into the US Supreme Court.
Trump Jr. mocked Democrats for their reaction to sexual misconduct accusations made against his father’s nominee.
Posting on Instagram, he said:
Oh boy... the Dems and their usual nonsense games really have him on the ropes now.
[Sen. Dianne Feinstein (D-Calif.)] had the letter in July and saved it for the eve of his vote... honorable as always. I believe this is a copy for full transparency.
He accompanied the post with a picture that appeared to show children’s handwriting that read: “Hi Cindy, will you be my girlfriend".
His post references a letter that was sent anonymously to US senator Dianne Feinstein earlier this year. The letter, which was later revealed to have been sent by California professor Christine Ford, claims that Kavanaugh assaulted her during a party in high school 30 years ago.
Ford alleged that as a high school student in suburban Maryland, just outside of Washington, a "stumbling drunk" Kavanaugh pinned her down, groped her and attempted to remove her clothing.
The allegations have plunged Kavanaugh’s extremely contentious nomination process into yet more uncertainty, with senior politicians and commentators demanding the allegations against him be investigated before senators decide whether he is fit to serve as a Supreme Court judge.
Judiciary Committee chairman Chuck Grassley has reportedly requested phone calls with Kavanaugh and his accuser before the confirmation vote.
Since he was announced as Trump’s nominee, pro-choice advocates have voiced concern that Kavanaugh will move to overturn Roe v Wade, the landmark Supreme Court ruling issued in 1973 that legalised abortion across the US.
Alibaba’s Jack Ma warns trade war could last 20 years - Financial Times
Alibaba’s Jack Ma warns trade war could last 20 years
‘It’s going to be a mess,’ says Chinese tech group’s executive chairman
© Reuters
Louise Lucas in Hong Kong - published on Sept. 18, 2018.
The trade war between the US and China could last for 20 years, Jack Ma, executive chairman of technology group Alibaba and China’s richest man, warned on Tuesday.
Speaking after China vowed to retaliate against US plans to impose tariffs on about $200bn of Chinese imports, Mr Ma said of the dispute: “It’s going to last a long time, maybe 20 years. It’s going to be a mess. It’s not a trade war, it’s about competition between two countries.”
However, while Mr Ma acknowledged the impact of the US-China trade war, which no one could win and which would affect both countries as well as his company, remained gung-ho about his legacy. “I don’t worry about Alibaba. If Alibaba cannot grow, no company in China can grow,” he said.
Mr Ma, who earlier this month announced his plans to step down from the company he founded 19 years ago, outlined a strategy of globalisation, expanding in rural China and the internet of things.
“Next year I won’t be able to speak to you as chairman,” he told the 600-plus audience at the event, held at Alibaba’s Hangzhou campus. “I will sit there as an investor and listen to the team speak.”
Mr Ma, who will hand over the chairmanship to Daniel Zhang, chief executive, next September, also sought to dispel some of the stories doing the rounds about his departure.
“People call me these days. I have government officials call me, [saying] ‘Are you crazy? What will happen?’ Rumours outside China [ask is it] because the government want to push you out? Ha, nobody can [push me out],” he said.
“People have a lot of guesses. But for me I know this has been 10 years in preparation.”
Unlike last year’s investor day, where Alibaba forecast annual revenue growth guidance that exceeded analysts’ estimates by 10 percentage points, there were no fresh forecasts.
Instead, executives reiterated some earlier targets, including passing $1tn in gross merchandise volume — the total amount of goods sold across its commerce platforms — compared with $768bn last year.
Alibaba, which has its roots in ecommerce but has since branched out into cloud services, digital entertainment and food delivery, also put a price on its investment portfolio, valuing it at $80bn.
Joe Tsai, executive chairman, said most of the funding had gone into international expansion in the past three years, as well as on digital media and entertainment. In the first quarter of this year the focus was on new retail, and the group also ploughed more funds — along with SoftBank of Japan — into Ele.me, its food delivery and local services business.
“I’m looking at venture capital-like returns except our success rate is greater, because we have people to make sure they work,” Mr Tsai said.
Alibaba and arch-rival Tencent can also boost returns on their investments by channelling their users on to other services: shoppers on Alibaba’s Taobao and Tmall shopping platforms are also candidates for watching movies, paying for good and services or ordering food deliveries.
Investments have broadly tracked free cash flow generation over the past three years, he told the audience, adding: “A lot of you will be angry if we under-invest. We are not a dividend-paying company.”
Of the cumulative $33.8bn free cash flow since fiscal year 2016, about $30bn has been invested leaving “a little cushion to make more investments in the future”.
Diver Who Helped With Thai Cave Rescue Sues Elon Musk for Calling Him a ‘Pedo’ - TIME
Diver Who Helped With Thai Cave Rescue Sues Elon Musk for Calling Him a ‘Pedo’
Posted: 17 Sep 2018 11:15 AM PDT
A British diver who helped rescue youth soccer players trapped in a cave in Thailand is suing Elon Musk, alleging that the Tesla CEO falsely accused him of being a pedophile.
Diver Vernon Unsworth, who lives north of London, contends that Musk made the false allegation on Twitter and then repeated multiple other falsehoods after the dramatic rescue of a dozen youth soccer players and their coach in July.
The lawsuit filed in Los Angeles federal court Monday seeks more than $75,000 in damages and a court order stopping Musk from making further allegations. Tesla did not immediately respond to a request for comment.
Musk called Unsworth a “pedo” in a tweet to his 22.5 million followers after Unsworth criticized Musk in a July 13 television interview with CNN about the rescue.
Musk and engineers from his rocket company, SpaceX, built a small submarine and shipped it to Thailand to help with the rescue. The device wasn’t used and in the interview, Unsworth called it a “PR stunt” and said it wouldn’t have worked to free the boys who were trapped in the flooded cave. He also said Musk “can stick his submarine somewhere where it hurts.”
The lawsuit alleges that Musk, apparently angered by Unsworth’s remarks, began a campaign to destroy his reputation “by publishing false and heinous accusations of criminality against him to the public.”
In a series of tweets July 15, Musk, who personally delivered the submarine to the cave, wrote that he never saw Unsworth and challenged him to show a video of the final rescue. “Sorry pedo guy, you really did ask for it,” Musk tweeted. Later on Twitter, Musk wrote “Bet ya a signed dollar it’s true.”
Later Musk deleted the tweets and apologized after being criticized by shareholders, the lawsuit alleged, stating in a tweet that his words were “spoken in anger” and that the sub was built out of kindness according to specifications from the dive team leader.
But on Aug. 28, Musk tweeted about Unsworth once again, writing: “You don’t think it’s strange he hasn’t sued me? He was offered free legal services.” The lawsuit states that with the tweet, Musk sought to tell the average reader that Unsworth’s failure to sue at the time was evidence that Unsworth is a pedophile.
Two days after the Aug. 28 tweet, Musk emailed a BuzzFeed News reporter, suggesting that the reporter investigate Unsworth and “stop defending child rapists,” according to the lawsuit, which is 65 pages with exhibits.
“He’s an old, single white guy from England who’s been traveling or living in Thailand for 30 to 40 years,” Musk wrote, adding that Unsworth moved in Thailand “for a child bride who was about 12 years old at the time,” according to the lawsuit.
Then in a second email to BuzzFeed, Musk accused Unsworth of being a liar and said he wasn’t on the cave dive team.
“Mr. Unsworth is not a pedophile. Mr. Unsworth has never engaged in an act of pedophilia. Mr. Unsworth is not a child rapist,” the lawsuit stated, adding that Unsworth has never been married to a minor.
Unsworth has a “significant other” in Thailand, a 40-year-old woman with whom he shares a house, according to the lawsuit. He first started going to Thailand in 2011, where he explored and mapped caves, the documents stated.
The lawsuit explains Unsworth’s role in the rescue, saying that on June 23, when the soccer players became trapped, several Thai officials called and asked him to go to the cave as soon as possible. He was the first foreign rescuer to arrive.
He recommended that the Thai government seek help from divers in the United Kingdom, and Unsworth called friend and fellow diver Rob Harper. Harper, who had just returned from exploring Thai caves with Unsworth, brought two other divers, John Volanthen and Rick Stanton, to help with the rescue.
The boys, ages 11-16, were found July 2 by Volanthen and Stanton, according to the lawsuit.
The last soccer player was rescued July 8. “Together with Mr. Unsworth, Mr. Harper, Mr. Volanthen, and Mr. Stanton put together the dive portion of the rescue plan that ultimately saved the boys,” the lawsuit stated. It concedes that Unsworth was not involved in the final planning stages of the rescue because he didn’t have enough experience to make the dive.
The lawsuit was filed by lawyers led by L. Lin Wood, an Atlanta attorney who has represented plaintiffs in several high-profile libel cases including the family of homicide victim JonBenet Ramsey and security guard Richard Jewel, who was accused in media reports of being a suspect in a 1996 bombing during the Olympics in Atlanta, a crime committed by anti-government extremist Eric Rudolph. The documents said a separate lawsuit would be filed in England.
Unsworth will not do interviews, Wood said, but the attorney said in a statement that Musk’s wealth “cannot convert his lies into truth or protect him from accountability for his wrongdoing in a court of law.”
Unsworth’s British lawyer, Mark Stephens, said that “Twibels (Twitter libels) show that falsehoods by the rich and powerful can circulate round the globe to their 22.5 million followers and to the media before the truth can pull its boots on.”
“The truth has now got its boots on and Elon Musk is being brought to account for repeatedly attacking and taunting the good name of an ordinary spelunker: Vernon Unsworth who answered the call and (with others) put his life on the line to help rescue the 13 trapped in the caves in Thailand,” he said.
Stephens did not say when Unsworth planned to file a claim in the British courts.
___
Krisher reported from Detroit. Jill Lawless contributed to this report from London.
Posted: 17 Sep 2018 11:15 AM PDT
A British diver who helped rescue youth soccer players trapped in a cave in Thailand is suing Elon Musk, alleging that the Tesla CEO falsely accused him of being a pedophile.
Diver Vernon Unsworth, who lives north of London, contends that Musk made the false allegation on Twitter and then repeated multiple other falsehoods after the dramatic rescue of a dozen youth soccer players and their coach in July.
The lawsuit filed in Los Angeles federal court Monday seeks more than $75,000 in damages and a court order stopping Musk from making further allegations. Tesla did not immediately respond to a request for comment.
Musk called Unsworth a “pedo” in a tweet to his 22.5 million followers after Unsworth criticized Musk in a July 13 television interview with CNN about the rescue.
Musk and engineers from his rocket company, SpaceX, built a small submarine and shipped it to Thailand to help with the rescue. The device wasn’t used and in the interview, Unsworth called it a “PR stunt” and said it wouldn’t have worked to free the boys who were trapped in the flooded cave. He also said Musk “can stick his submarine somewhere where it hurts.”
The lawsuit alleges that Musk, apparently angered by Unsworth’s remarks, began a campaign to destroy his reputation “by publishing false and heinous accusations of criminality against him to the public.”
In a series of tweets July 15, Musk, who personally delivered the submarine to the cave, wrote that he never saw Unsworth and challenged him to show a video of the final rescue. “Sorry pedo guy, you really did ask for it,” Musk tweeted. Later on Twitter, Musk wrote “Bet ya a signed dollar it’s true.”
Later Musk deleted the tweets and apologized after being criticized by shareholders, the lawsuit alleged, stating in a tweet that his words were “spoken in anger” and that the sub was built out of kindness according to specifications from the dive team leader.
But on Aug. 28, Musk tweeted about Unsworth once again, writing: “You don’t think it’s strange he hasn’t sued me? He was offered free legal services.” The lawsuit states that with the tweet, Musk sought to tell the average reader that Unsworth’s failure to sue at the time was evidence that Unsworth is a pedophile.
Two days after the Aug. 28 tweet, Musk emailed a BuzzFeed News reporter, suggesting that the reporter investigate Unsworth and “stop defending child rapists,” according to the lawsuit, which is 65 pages with exhibits.
“He’s an old, single white guy from England who’s been traveling or living in Thailand for 30 to 40 years,” Musk wrote, adding that Unsworth moved in Thailand “for a child bride who was about 12 years old at the time,” according to the lawsuit.
Then in a second email to BuzzFeed, Musk accused Unsworth of being a liar and said he wasn’t on the cave dive team.
“Mr. Unsworth is not a pedophile. Mr. Unsworth has never engaged in an act of pedophilia. Mr. Unsworth is not a child rapist,” the lawsuit stated, adding that Unsworth has never been married to a minor.
Unsworth has a “significant other” in Thailand, a 40-year-old woman with whom he shares a house, according to the lawsuit. He first started going to Thailand in 2011, where he explored and mapped caves, the documents stated.
The lawsuit explains Unsworth’s role in the rescue, saying that on June 23, when the soccer players became trapped, several Thai officials called and asked him to go to the cave as soon as possible. He was the first foreign rescuer to arrive.
He recommended that the Thai government seek help from divers in the United Kingdom, and Unsworth called friend and fellow diver Rob Harper. Harper, who had just returned from exploring Thai caves with Unsworth, brought two other divers, John Volanthen and Rick Stanton, to help with the rescue.
The boys, ages 11-16, were found July 2 by Volanthen and Stanton, according to the lawsuit.
The last soccer player was rescued July 8. “Together with Mr. Unsworth, Mr. Harper, Mr. Volanthen, and Mr. Stanton put together the dive portion of the rescue plan that ultimately saved the boys,” the lawsuit stated. It concedes that Unsworth was not involved in the final planning stages of the rescue because he didn’t have enough experience to make the dive.
The lawsuit was filed by lawyers led by L. Lin Wood, an Atlanta attorney who has represented plaintiffs in several high-profile libel cases including the family of homicide victim JonBenet Ramsey and security guard Richard Jewel, who was accused in media reports of being a suspect in a 1996 bombing during the Olympics in Atlanta, a crime committed by anti-government extremist Eric Rudolph. The documents said a separate lawsuit would be filed in England.
Unsworth will not do interviews, Wood said, but the attorney said in a statement that Musk’s wealth “cannot convert his lies into truth or protect him from accountability for his wrongdoing in a court of law.”
Unsworth’s British lawyer, Mark Stephens, said that “Twibels (Twitter libels) show that falsehoods by the rich and powerful can circulate round the globe to their 22.5 million followers and to the media before the truth can pull its boots on.”
“The truth has now got its boots on and Elon Musk is being brought to account for repeatedly attacking and taunting the good name of an ordinary spelunker: Vernon Unsworth who answered the call and (with others) put his life on the line to help rescue the 13 trapped in the caves in Thailand,” he said.
Stephens did not say when Unsworth planned to file a claim in the British courts.
___
Krisher reported from Detroit. Jill Lawless contributed to this report from London.
Meet the Japanese Billionaire Who’s Paying Elon Musk for a Trip Around the Moon - TIME
Meet the Japanese Billionaire Who’s Paying Elon Musk for a Trip Around the Moon
Posted: 18 Sep 2018 05:28 AM PDT
Elon Musk’s SpaceX introduced the world to the company’s first space tourist Monday night, announcing that Japanese billionaire Yusaku Maezawa is set to embark on a voyage around the moon.
“Finally, I can tell you that I choose to go to the moon!” said Maezawa at a press conference at the aerospace company’s headquarters on the outskirts of Los Angeles.
Maezawa’s journey will not take place until at least 2023 on a yet-to-be-built rocket. The mission could be delayed for a number of reasons, including production delays and more.
Here’s what to know about Yusaku Maezawa.
Who is Yusaku Maezawa?
Maezawa, 42, lives in Chiba, a city 25 miles southeast of Tokyo. He was a billionaire by his mid-30s, making his fortune in online retailing. He started Japanese e-commerce giant Start Today in 1998 and popular fashion marketplace Zozotown in 2004.
He is the 18th richest man in Japan, according to Forbes, with a personal wealth of $2.9 billion.
An enthusiastic art collector, he is known for dramatic splurges. In 2016, he dropped almost $100 million during a spending spree at two art auctions in New York. His most expensive known purchase is a large work by Jean-Michel Basquiat valued at $110.5 million.
Another serious shot w @elonmusk pic.twitter.com/e11lyfjfFN
— Yusaku Maezawa 前澤友作 (@yousuck2020) September 18, 2018
What will Maezawa do on the trip?
Maezawa isn’t going to the moon alone. He plans to invite between six and eight artists to join him on the trip as part of a project called Dear Moon, which he launched online shortly after his trip was announced.
“These artists will be asked to create something after they return to Earth, and these masterpieces will inspire the dreamer within all of us,” he said at the press conference. He said he wanted the artists “to see the moon up close, and the earth in full view, and create work to reflect their experience.”
How much did Maezawa may SpaceX for the trip?
We don’t know for sure. Maezawa has not revealed the price of his trip, but Musk said it was “a lot of money.” The trip will be free for the artists he invites along, Maezawa added.
What does Maezawa’s booking mean for SpaceX?
It’s a big boost for SpaceX and its CEO, Elon Musk. SpaceX is still working to built the 387-foot Big Falcon Rocket (BFR) it plans to use for its moon flight. Musk said Maezawa’s payment is big enough to “have a material effect on paying for cost and development of BFR,” which could cost as much as $5 billion overall.
The moon hasn’t seen any human visitors since 1972 and NASA’s last Apollo mission. But Musk’s ambitions go beyond our lunar satellite — the BFR, he hopes, will eventually help get human visitors to Mars, too. Musk believes it’s important for humanity to become a multi-planetary species, and space tourism could help fund that lofty vision.
The announcement is also a bit of good news for Musk, who has been criticized lately for the struggles at his other major company, electric automaker Tesla, and is being sued by a cave diver who Musk alleged without proof is a pedophile.
Posted: 18 Sep 2018 05:28 AM PDT
Elon Musk’s SpaceX introduced the world to the company’s first space tourist Monday night, announcing that Japanese billionaire Yusaku Maezawa is set to embark on a voyage around the moon.
“Finally, I can tell you that I choose to go to the moon!” said Maezawa at a press conference at the aerospace company’s headquarters on the outskirts of Los Angeles.
Maezawa’s journey will not take place until at least 2023 on a yet-to-be-built rocket. The mission could be delayed for a number of reasons, including production delays and more.
Here’s what to know about Yusaku Maezawa.
Who is Yusaku Maezawa?
Maezawa, 42, lives in Chiba, a city 25 miles southeast of Tokyo. He was a billionaire by his mid-30s, making his fortune in online retailing. He started Japanese e-commerce giant Start Today in 1998 and popular fashion marketplace Zozotown in 2004.
He is the 18th richest man in Japan, according to Forbes, with a personal wealth of $2.9 billion.
An enthusiastic art collector, he is known for dramatic splurges. In 2016, he dropped almost $100 million during a spending spree at two art auctions in New York. His most expensive known purchase is a large work by Jean-Michel Basquiat valued at $110.5 million.
Another serious shot w @elonmusk pic.twitter.com/e11lyfjfFN
— Yusaku Maezawa 前澤友作 (@yousuck2020) September 18, 2018
What will Maezawa do on the trip?
Maezawa isn’t going to the moon alone. He plans to invite between six and eight artists to join him on the trip as part of a project called Dear Moon, which he launched online shortly after his trip was announced.
“These artists will be asked to create something after they return to Earth, and these masterpieces will inspire the dreamer within all of us,” he said at the press conference. He said he wanted the artists “to see the moon up close, and the earth in full view, and create work to reflect their experience.”
How much did Maezawa may SpaceX for the trip?
We don’t know for sure. Maezawa has not revealed the price of his trip, but Musk said it was “a lot of money.” The trip will be free for the artists he invites along, Maezawa added.
What does Maezawa’s booking mean for SpaceX?
It’s a big boost for SpaceX and its CEO, Elon Musk. SpaceX is still working to built the 387-foot Big Falcon Rocket (BFR) it plans to use for its moon flight. Musk said Maezawa’s payment is big enough to “have a material effect on paying for cost and development of BFR,” which could cost as much as $5 billion overall.
The moon hasn’t seen any human visitors since 1972 and NASA’s last Apollo mission. But Musk’s ambitions go beyond our lunar satellite — the BFR, he hopes, will eventually help get human visitors to Mars, too. Musk believes it’s important for humanity to become a multi-planetary species, and space tourism could help fund that lofty vision.
The announcement is also a bit of good news for Musk, who has been criticized lately for the struggles at his other major company, electric automaker Tesla, and is being sued by a cave diver who Musk alleged without proof is a pedophile.
China hits back: It will implement $60 billion in tariffs on the US effective Sept. 24 - CNBC News
China hits back: It will implement $60 billion in tariffs on the US effective Sept. 24
China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report.
The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent.
On Monday, the President Donald Trump administration announced it will impose 10 percent tariffs on about $200 billion of imports from China effective Sept. 24.
Tae Kim | @firstadopter
Published on Sept. 18, 2018.
CNBC.com
Chinese President Xi Jinping attends an event commemorating the 200th birth anniversary of the founding father of communism Karl Marx in Beijing, China May 4, 2018.
Jason Lee | Reuters
Chinese President Xi Jinping attends an event commemorating the 200th birth anniversary of the founding father of communism Karl Marx in Beijing, China May 4, 2018.
China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report.
The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent.
On Monday, the President Donald Trump administration announced it will impose 10 percent tariffs on about $200 billion of imports from China effective Sept. 24. Trump, in a statement, said that the tariffs would rise to 25 percent on Jan. 1, 2019.
Earlier on Monday, White House economic advisor Larry Kudlow said Trump has "not been satisfied" with the trade talks with China.
The world's two largest economies have already applied tariffs to $50 billion of each other's goods.
China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report.
The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent.
On Monday, the President Donald Trump administration announced it will impose 10 percent tariffs on about $200 billion of imports from China effective Sept. 24.
Tae Kim | @firstadopter
Published on Sept. 18, 2018.
CNBC.com
Chinese President Xi Jinping attends an event commemorating the 200th birth anniversary of the founding father of communism Karl Marx in Beijing, China May 4, 2018.
Jason Lee | Reuters
Chinese President Xi Jinping attends an event commemorating the 200th birth anniversary of the founding father of communism Karl Marx in Beijing, China May 4, 2018.
China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report.
The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent.
On Monday, the President Donald Trump administration announced it will impose 10 percent tariffs on about $200 billion of imports from China effective Sept. 24. Trump, in a statement, said that the tariffs would rise to 25 percent on Jan. 1, 2019.
Earlier on Monday, White House economic advisor Larry Kudlow said Trump has "not been satisfied" with the trade talks with China.
The world's two largest economies have already applied tariffs to $50 billion of each other's goods.
Democrats taking Senate 'would be bigger shock than Trump in 2016' - Guardian
Democrats taking Senate 'would be bigger shock than Trump in 2016'
YouGov pollster plays down talk of a blue wave sweeping away Republican majority: ‘Democrats have to win seven of the nine. I think the odds of that happening are not good’
David Smith in Palo Alto, California
@smithinamerica
Tue 18 Sep 2018 22.25 AEST
‘When you really take a deep breath and think … Texas is not going anywhere, guys.’
Democrats aiming to take the US Senate in November need results “more shocking than Trump winning the 2016 election”, a leading polling expert said on Monday, playing down expectations of a blue wave.
Democrats lead Republicans nationwide by 54% to 46%, enough to take 225 seats and claim a narrow majority in the House, according to Gallup data released at the Hoover Institution, a conservative thinktank in Palo Alto, California.
In the Senate, where Republicans currently hold a narrow 51-49 majority, 10 incumbent Democrats are defending states that Donald Trump won in 2016. “The chances of the Democrats winning all of those seem to me pretty slim,” Doug Rivers, chief scientist at YouGov global polling, told reporters.
“You need a wave where all the toss-ups essentially go one direction and then Democrats need to pick up two more seats to get a majority.
“There’s a rather good opportunity in Tennessee, Nevada and Arizona, and then the long shot, which would be a catastrophe for the Republicans, would be Texas. I don’t think the math adds up for a change. That would be more shocking than Trump winning the 2016 election.”
Rivers, a political science professor at Stanford University, noted that Democratic turnout in recent special elections has been “off the charts” and predicted there was a 75% chance of Democrats taking the House. “But as we learned in 2016, 25% events occur,” he added.
Trump has a 40% job approval rating less than two months before the midterms, according to Gallup, and is seen as a potential drag on Republicans’ fortunes in the House, especially among independents – voters with no party affiliation – and women.
The president’s recent troubles, ranging from an anonymous op-ed by a senior administration official in the New York Times to the supreme court nominee Brett Kavanaugh facing sexual assault allegations, have led to a recent surge of Democratic optimism that the Senate might also be in play. The Republican senator Ted Cruz faces a surprisingly stiff challenge from Democrat Beto O’Rourke in Texas.
But Lanhee Chen, a research fellow at the Hoover Institution, said: “I think Republicans will hold on to and expand their majority in the Senate. The House side I’m not sure about. It’s not as easy as, ‘Oh, the Democrats are going to win a bunch of seats.’ It’s too early to tell. We’ll know a little better in three or four weeks.”
Chen, former policy director for Mitt Romney’s presidential campaign in 2012, suggested that the likelihood of deep red states suddenly turning blue is overblown.
“At the end of the day there are a set of fundamentals here that I think you have to return to when you think about what’s going to happen, and you [would] have to accept the theory that Democratic turnout is going to be so big that it’s going to completely eviscerate what we know about who lives in these states.
“Which is not to say there isn’t concern about a state like Tennessee, for example. It’s just to say when you really take a deep breath and think … Texas is not going anywhere, guys. That’s now what I come back to: what do these states live like? Who lives there?”
While the progressive base is expected to turn out in force, energised by its first chance to impose some checks and balances on Trump, it remains unclear how many independents will join them.
David Brady, a political science professor at the Stanford Graduate School of Business, said: “I think the Democrats will take the House but at this point I don’t see a wave election where it goes to 230 or 240 or something like that, precisely because I don’t see the independents moving that way yet.”
Nine Senate races are too close to call. Brady added: “What you look for this time is an anti-Trump movement and I’m not seeing that yet among independents. I don’t even see it much among Republicans. Republican women are still saying on the generic ballot they’ll vote Republican at House level.
“In order to take the Senate, Democrats have to win seven of the nine. I think the odds of that happening are not good.”
But Brady also noted a recent YouGov poll finding that just 49% of people who approve of Trump’s presidency want him to run for the White House again in 2020.
“There’s a number of people who like the results that happened so far – less regulation, et cetera – but they don’t like him,” he explained. “There is unanimity among Americans on one thing: vast majorities of Democrats and Republicans would like to see him stop tweeting.
“So I think what happens is even if people like what he’s doing there are many Republicans who don’t like the way he does it. That’s pretty understandable, it seems to me, even if you’re a strong Republican.”
YouGov pollster plays down talk of a blue wave sweeping away Republican majority: ‘Democrats have to win seven of the nine. I think the odds of that happening are not good’
David Smith in Palo Alto, California
@smithinamerica
Tue 18 Sep 2018 22.25 AEST
‘When you really take a deep breath and think … Texas is not going anywhere, guys.’
Democrats aiming to take the US Senate in November need results “more shocking than Trump winning the 2016 election”, a leading polling expert said on Monday, playing down expectations of a blue wave.
Democrats lead Republicans nationwide by 54% to 46%, enough to take 225 seats and claim a narrow majority in the House, according to Gallup data released at the Hoover Institution, a conservative thinktank in Palo Alto, California.
In the Senate, where Republicans currently hold a narrow 51-49 majority, 10 incumbent Democrats are defending states that Donald Trump won in 2016. “The chances of the Democrats winning all of those seem to me pretty slim,” Doug Rivers, chief scientist at YouGov global polling, told reporters.
“You need a wave where all the toss-ups essentially go one direction and then Democrats need to pick up two more seats to get a majority.
“There’s a rather good opportunity in Tennessee, Nevada and Arizona, and then the long shot, which would be a catastrophe for the Republicans, would be Texas. I don’t think the math adds up for a change. That would be more shocking than Trump winning the 2016 election.”
Rivers, a political science professor at Stanford University, noted that Democratic turnout in recent special elections has been “off the charts” and predicted there was a 75% chance of Democrats taking the House. “But as we learned in 2016, 25% events occur,” he added.
Trump has a 40% job approval rating less than two months before the midterms, according to Gallup, and is seen as a potential drag on Republicans’ fortunes in the House, especially among independents – voters with no party affiliation – and women.
The president’s recent troubles, ranging from an anonymous op-ed by a senior administration official in the New York Times to the supreme court nominee Brett Kavanaugh facing sexual assault allegations, have led to a recent surge of Democratic optimism that the Senate might also be in play. The Republican senator Ted Cruz faces a surprisingly stiff challenge from Democrat Beto O’Rourke in Texas.
But Lanhee Chen, a research fellow at the Hoover Institution, said: “I think Republicans will hold on to and expand their majority in the Senate. The House side I’m not sure about. It’s not as easy as, ‘Oh, the Democrats are going to win a bunch of seats.’ It’s too early to tell. We’ll know a little better in three or four weeks.”
Chen, former policy director for Mitt Romney’s presidential campaign in 2012, suggested that the likelihood of deep red states suddenly turning blue is overblown.
“At the end of the day there are a set of fundamentals here that I think you have to return to when you think about what’s going to happen, and you [would] have to accept the theory that Democratic turnout is going to be so big that it’s going to completely eviscerate what we know about who lives in these states.
“Which is not to say there isn’t concern about a state like Tennessee, for example. It’s just to say when you really take a deep breath and think … Texas is not going anywhere, guys. That’s now what I come back to: what do these states live like? Who lives there?”
While the progressive base is expected to turn out in force, energised by its first chance to impose some checks and balances on Trump, it remains unclear how many independents will join them.
David Brady, a political science professor at the Stanford Graduate School of Business, said: “I think the Democrats will take the House but at this point I don’t see a wave election where it goes to 230 or 240 or something like that, precisely because I don’t see the independents moving that way yet.”
Nine Senate races are too close to call. Brady added: “What you look for this time is an anti-Trump movement and I’m not seeing that yet among independents. I don’t even see it much among Republicans. Republican women are still saying on the generic ballot they’ll vote Republican at House level.
“In order to take the Senate, Democrats have to win seven of the nine. I think the odds of that happening are not good.”
But Brady also noted a recent YouGov poll finding that just 49% of people who approve of Trump’s presidency want him to run for the White House again in 2020.
“There’s a number of people who like the results that happened so far – less regulation, et cetera – but they don’t like him,” he explained. “There is unanimity among Americans on one thing: vast majorities of Democrats and Republicans would like to see him stop tweeting.
“So I think what happens is even if people like what he’s doing there are many Republicans who don’t like the way he does it. That’s pretty understandable, it seems to me, even if you’re a strong Republican.”
Israel Strikes Iranian Arms Shipment at Damascus Airport - Wall Street Journal
Israel Strikes Iranian Arms Shipment at Damascus Airport
Missiles latest in a string of attacks aimed at checking Iran in Syria
By Sune Engel Rasmussen in Beirut
Updated Sept. 16, 2018 2:42 p.m. ET
Israeli missiles are suspected to have struck an Iranian arms shipment at Damascus airport late Saturday, the latest in a string of attacks aimed at eroding Tehran’s military foothold in Syria.
The strikes play into a broader conflict unfolding in the Middle East. The fight against Islamic State militants, who have been driven from their strongholds in Syria and Iraq, has given way to a jostling for power among foreign and regional actors.
Israel has watched with concern as Iran has entrenched itself deeper in Syria on the back of its support for the regime of President Bashar al-Assad, which has reclaimed most of the territory once held by antigovernment rebels.
Over the past year, Israel has sharply increased airstrikes against Iranian assets in Syria, striking targets from its own border area to the far eastern part of the country to neighborhoods near the capital, Damascus.
Saturday’s strike seemingly targeted a warehouse and a recently arrived arms shipment from Iran to the Lebanese Hezbollah militia, according to the Syrian Observatory for Human Rights, a U.K.-based monitoring group, which said the launched missiles were likely Israeli.
According to a news report by the Israeli Hadashot TV Sunday morning, the strike also hit an Iranian cargo plane loaded with weapons, which had recently landed at Damascus International Airport from Tehran.
The state-run Syrian Arab News Agency reported that the country’s air defenses repelled some of the incoming missiles, which it said were fired from Israel.
People in Damascus posted footage on social media showing explosions that they described as the airport being hit. The were no immediate reports of casualties.
The Israeli military, in accordance with its usual practice, declined to comment on individual military actions.
But Israel’s Prime Minister Benjamin Netanyahu said Sunday at the beginning of a cabinet meeting that Israel would continue to enforce its red lines, without specifying what they are. He has previously said Israel won’t allow Iran to establish a military presence in Syria.
“Israel is constantly working to prevent our enemies from arming themselves with advanced weaponry,” he said.
The most recent strikes follow warnings from Israel’s defense minister, Avigdor Lieberman, earlier this month, that his country would broaden its military campaign against Iran. Israel has accused Iran of seeking to establish a land corridor, allowing it to transport personnel and equipment from Tehran to the Mediterranean, through Iraq and Syria.
Israeli officials have said that Israel has conducted more than 200 strikes, using about 800 bombs, against Iranian and Hezbollah targets in Syria since the beginning of 2017. The Syrian Observatory for Human Rights said Saturday’s attacks were the third time Israel struck Syria this month.
The Syrian Observatory for Human Rights said Saturday’s attacks were the third time Israel struck Syria this month.
Tensions between Israel and Iran have grown as the Assad regime, backed by Tehran, has pushed to clear rebel-held areas near the border with Israel. Israel has said it won’t allow militias loyal to Tehran to entrench near the Golan Heights.
In its largest-ever operation inside Syria, Israeli warplanes in May made dozens of strikes against Iranian infrastructure after an Iranian unit in Syria fired about 20 short-range artillery rockets that Israel said were either shot down or fell short of a nearby military base.
In June, Israel struck a compound near Syria’s frontier with Iraq that security officials said housed members of an Iranian-backed Iraqi militia who crossed the border into Syria.
Rising hostilities between the two long-term foes have exposed fault lines in the relationship between Russia and Iran. Both countries have fought on the side of the Syrian regime, but Moscow is eager to maintain ties with Israel and enlist its support for an enlarged footprint in the Middle East that won’t shrink once the war is over.
Russia has sought to assure Israel that it wants only Syrian forces fighting in the country’s southwest. It has made sure that Iranian-backed troops are no closer than 85 kilometers (about 53 miles) from the Israeli border, Russia’s special envoy to Syria, Alexander Lavrentiev has said, according to Russian news media.
Moscow has even tried to open diplomatic channels between Tehran and Tel Aviv to defuse tensions, The Wall Street Journal reported in May.
In a meeting with President Trump in July, Russia’s President Vladimir Putin committed to “safely guarantee the security of the State of Israel.”
Russia previously this year pointed to Israel as being responsible for an attack in Homs that killed more than a dozen Iranians or Iranian-linked fighters. But Russia, which controls part of Syria’s airspace, hasn’t interfered in Israel’s attacks.
—Felicia Schwartz and Nazih Osseiran contributed to this article.
Missiles latest in a string of attacks aimed at checking Iran in Syria
By Sune Engel Rasmussen in Beirut
Updated Sept. 16, 2018 2:42 p.m. ET
Israeli missiles are suspected to have struck an Iranian arms shipment at Damascus airport late Saturday, the latest in a string of attacks aimed at eroding Tehran’s military foothold in Syria.
The strikes play into a broader conflict unfolding in the Middle East. The fight against Islamic State militants, who have been driven from their strongholds in Syria and Iraq, has given way to a jostling for power among foreign and regional actors.
Israel has watched with concern as Iran has entrenched itself deeper in Syria on the back of its support for the regime of President Bashar al-Assad, which has reclaimed most of the territory once held by antigovernment rebels.
Over the past year, Israel has sharply increased airstrikes against Iranian assets in Syria, striking targets from its own border area to the far eastern part of the country to neighborhoods near the capital, Damascus.
Saturday’s strike seemingly targeted a warehouse and a recently arrived arms shipment from Iran to the Lebanese Hezbollah militia, according to the Syrian Observatory for Human Rights, a U.K.-based monitoring group, which said the launched missiles were likely Israeli.
According to a news report by the Israeli Hadashot TV Sunday morning, the strike also hit an Iranian cargo plane loaded with weapons, which had recently landed at Damascus International Airport from Tehran.
The state-run Syrian Arab News Agency reported that the country’s air defenses repelled some of the incoming missiles, which it said were fired from Israel.
People in Damascus posted footage on social media showing explosions that they described as the airport being hit. The were no immediate reports of casualties.
The Israeli military, in accordance with its usual practice, declined to comment on individual military actions.
But Israel’s Prime Minister Benjamin Netanyahu said Sunday at the beginning of a cabinet meeting that Israel would continue to enforce its red lines, without specifying what they are. He has previously said Israel won’t allow Iran to establish a military presence in Syria.
“Israel is constantly working to prevent our enemies from arming themselves with advanced weaponry,” he said.
The most recent strikes follow warnings from Israel’s defense minister, Avigdor Lieberman, earlier this month, that his country would broaden its military campaign against Iran. Israel has accused Iran of seeking to establish a land corridor, allowing it to transport personnel and equipment from Tehran to the Mediterranean, through Iraq and Syria.
Israeli officials have said that Israel has conducted more than 200 strikes, using about 800 bombs, against Iranian and Hezbollah targets in Syria since the beginning of 2017. The Syrian Observatory for Human Rights said Saturday’s attacks were the third time Israel struck Syria this month.
The Syrian Observatory for Human Rights said Saturday’s attacks were the third time Israel struck Syria this month.
Tensions between Israel and Iran have grown as the Assad regime, backed by Tehran, has pushed to clear rebel-held areas near the border with Israel. Israel has said it won’t allow militias loyal to Tehran to entrench near the Golan Heights.
In its largest-ever operation inside Syria, Israeli warplanes in May made dozens of strikes against Iranian infrastructure after an Iranian unit in Syria fired about 20 short-range artillery rockets that Israel said were either shot down or fell short of a nearby military base.
In June, Israel struck a compound near Syria’s frontier with Iraq that security officials said housed members of an Iranian-backed Iraqi militia who crossed the border into Syria.
Rising hostilities between the two long-term foes have exposed fault lines in the relationship between Russia and Iran. Both countries have fought on the side of the Syrian regime, but Moscow is eager to maintain ties with Israel and enlist its support for an enlarged footprint in the Middle East that won’t shrink once the war is over.
Russia has sought to assure Israel that it wants only Syrian forces fighting in the country’s southwest. It has made sure that Iranian-backed troops are no closer than 85 kilometers (about 53 miles) from the Israeli border, Russia’s special envoy to Syria, Alexander Lavrentiev has said, according to Russian news media.
Moscow has even tried to open diplomatic channels between Tehran and Tel Aviv to defuse tensions, The Wall Street Journal reported in May.
In a meeting with President Trump in July, Russia’s President Vladimir Putin committed to “safely guarantee the security of the State of Israel.”
Russia previously this year pointed to Israel as being responsible for an attack in Homs that killed more than a dozen Iranians or Iranian-linked fighters. But Russia, which controls part of Syria’s airspace, hasn’t interfered in Israel’s attacks.
—Felicia Schwartz and Nazih Osseiran contributed to this article.
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