CMA to honor Dolly Parton in TV tribute on ABC, Disney+, Hulu

The Country Music Assn. will put on a two-hour live TV special honoring Dolly Parton, who died last month at the age of 80.

The association said Wednesday that the television tribute — titled “CMA Presents I Will Always Love You: A Celebration of Dolly Parton” — will be recorded live at the Fisher Center for the Performing Arts, on the campus of Belmont University in Nashville.

The tribute will air Oct. 21 at 6 p.m. Pacific on ABC and Disney+, and will stream on Hulu a day later.

In a news release, CMA described the special as a “joyful, emotional celebration” dedicated to Parton, the rhinestone-studded singer whose life began humbly, in a one-room cabin at the foothills of the Great Smoky Mountains.

Robert Deaton, veteran executive producer of the Country Music Awards and Billboard Music Awards, will fill that role on the Parton project.

“Dolly gave Country Music its heart, and giving some of that heart back to her is an incredible honor,” said Deaton in a news release Wednesday. “My hope is simply that we do right by her story, her music and the people who love her, so that this evening feels like the tribute my friend deserves.”

Sarah Trahern, CMA chief executive, added that the tribute is the association’s “responsibility”: “This special is our way of saying thank you, on behalf of every artist, industry member and fan who found a piece of themselves in her music.”

The tribute is in partnership with Belmont University, which hosted the 2025 world premiere of “Dolly: A True Original Musical,” a biographical production about the “9 to 5” singer that is scheduled for its Broadway debut on Jan. 19, what would have been the Parton’s 81st birthday.

The university also previously launched “Dolly U,” an immersive educational partnership designed to connect students with hands-on opportunities in entertainment, media and creative industries.

Greg Jones, president of Belmont University, welcomed the special with a statement of his own: “It is a privilege to welcome artists, friends and fans from around the world to celebrate her extraordinary life and legacy from this stage in Nashville, honoring a woman whose love for Tennessee was woven into everything she did.”

Both the CMA and Belmont University will make a donation from the proceeds to Parton’s Imagination Library, which was launched by the Dollywood Foundation in 1995 to address childhood literacy by giving millions of children the gift of a free book each month. Disney will also support the program.

News of the television tribute follows an announcement last month by Parton’s estate that revealed plans for Dollyfest, a two-day celebration in Nashville and London next year across two consecutive weekends to honor her legacy.

Additional details for the CMA special, including performers and tickets, will be announced at a later date.

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Arab News | US Fed raises rates to tackle ‘too high’ inflation in move sure to rile Trump

WASHINGTON, United States: The US Federal Reserve on Wednesday raised interest rates for the first time since 2023, defying President Donald Trump’s demand for cuts, as central bank chief Kevin Warsh stressed the need to combat inflation that has been “too high” for “too long.”

The Fed’s Federal Open Market Committee voted unanimously to raise rates by 25 basis points to between 3.75 and 4.00 percent, saying the rate hike would support a “timelier return” to its two-percent target for inflation.

Warsh, appointed by Trump, said the decision was a “serious” one, but needed to be taken.

“The plain fact is that inflation is too high, and has been for too long,” he told a press conference.

And Wednesday’s rate hike may not be the last — the vast majority of Fed policymakers indicated that at least one more rate hike was likely necessary before the end of the year, according to their Summary of Economic Projections.

US households and businesses have been battered by years of higher-than-target inflation, and prices have surged in the wake of Trump’s war on Iran, his signature tariff policies and the ongoing AI boom.

Trump has launched an unprecedented assault on the Fed’s independence since taking office, attempting to fire a Fed Governor and launching a criminal probe against Warsh’s predecessor in his quest for lower rates to spur economic activity.

The president’s Republican Party faces a stern test in upcoming midterm elections, with rival Democrats seeking to wrest control of both houses of Congress and economic issues front-and-center for voters.

Growing calls for hike

The Fed has held rates steady since January, choosing to wait to gauge the effects of the Iran war’s energy price shocks and to let the impact of tariffs on prices ripple through the economy.

Since July, however, a growing faction of policymakers had indicated a rate hike may be required to tame inflation, as the war grinds on and prices remained elevated.

On Friday, August’s consumer price index came in at 3.4 percent — unchanged from the month before, but still well above the Fed’s long-term two-percent target.

In its SEP, the Fed raised its forecast for its preferred gauge of inflation — the Personal Consumption Expenditures (PCE) price index — by 0.1 percentage points to 3.7 percent by year-end.

The Fed also raised its projection for GDP growth by year-end to 2.3 percent, up 0.1 percentage points.

‘Rather unfortunate’

US stock markets largely priced in Wednesday’s rate hike, but they were still down on the news — expected with any rate hike as equities become less attractive.

Yields on 10-year US Treasury bonds — which have surged in recent days as uncertainty on long-term inflation has spiked — were also up past the five-percent threshold.

Following the Fed’s announcement, White House spokesperson Kush Desai said the decision was “rather unfortunate” and that Trump had been clear that he wanted lower interest rates.

Warsh was named to his position after a contentious Senate confirmation process, where Democratic lawmakers accused him of being a “sock puppet” for Trump, which he denied.

So far, Trump has supported Warsh, claiming that the Fed chair wants lower rates and accusing the board of being “political.”

The Fed has a dual mandate to deliver maximum employment while keeping inflation to its long-term two-percent target.

It mainly achieves these goals by setting the key US interest rate — lower rates tend to spur economic activity but fuel inflation, and hiking them cools both activity and prices.

The Fed’s SEP showed that at least 12 of 18 policymakers who participated in the projection expected one more rate hike would be required before the end of the year.

Four policymakers expect two more rate hikes to be required.

Warsh has criticized the Fed’s policy of offering such projections in the past and did not participate in the previous iteration in June.

This projection also included only 18 policymakers, suggesting he had once again withheld his contribution.



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Trump administration has cut or frozen $177 billion in grants across every state, analysis shows

The Trump administration has cut or frozen up to $177 billion in federal grants since the president took office for his second term, according to a tracking tool released Wednesday by a pro-democracy nonprofit and a group of researchers and scientists.

The cuts affected all 50 states and the District of Columbia, with health, nutrition, the environment and disaster relief making up the largest share of cuts, the States United Democracy Center and Grant Witness organization found.

Among the grants that were eliminated, frozen or delayed were ones related to maternal health in Michigan, education research in Mississippi and assistance to minority farmers in Iowa, the researchers found. California, Texas, New York, Illinois and North Carolina saw the highest amounts of interrupted grant money. The tracking tool is called Lost Funds.

“By bringing thousands of funding disruptions from the Trump administration together in a publicly accessible, verified database, Lost Funds puts the magnitude of their impact on full display,” Scott Delaney, co-founder of Grant Witness, said in a statement.

The $177 billion finding represents nearly 10% of federal discretionary spending, the groups said.

The tracker’s organizers said the disrupted grants were beyond the kind of cuts that typically happen when administrations change.

“Lost Funds shows the extraordinary scale and real human impact of these disruptions, and how states are once again on the front lines protecting their residents,” said Kelly Rader, States United Democracy Center’s research director.

In some cases, courts have ruled against the administration’s grant funding cuts.

The new tool, which is being made available for public use, relies on data from USASpending.gov, an open data source of federal spending information, according to the groups’ methodology. They said the tracker would be updated regularly as the administration takes new action and lawsuits move through the courts.

States United bills itself as a nonpartisan group dedicated to the rule of law and free, fair, secure elections. It was co-founded by Norm Eisen, an attorney who has been involved in prominent lawsuits against the Trump administration, including over the Kennedy Center. Eisen left States United in 2021.

Grant Witness is a group of scientists, researchers and attorneys who document how funding is changing under President Trump’s administration.

A message seeking comment on the analysis was sent to the White House.

Catalini writes for the Associated Press.

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Apache Crew Rescue Highlights Need For AI In Combat Says Joint Chiefs Chairman

The U.S. military’s top officer on Wednesday talked about how AI is changing the character of warfare and offered two examples to illustrate his points. His comments included new insights into how two U.S. Army AH-64 Apache crew members were rescued after being shot down by an Iranian drone near the coast of Oman in June. The recovery effort involved America’s first known use of an uncrewed surface vessel (USV) executing a personnel recovery action as part of a military search and rescue operation.

“Information moves so fast that leader decision times have compressed from weeks down to days down to seconds,” explained Air Force Gen. Dan Caine, chairman of the Joint Chiefs of Staff, during his keynote speech at the Air & Space Forces Air, Space and Cyber Conference that TWZ is attending. “In the future fight, advantage will go to the side who can see first, who can understand first, decide first, and act first, and along the way, be a learning organization, and no factor is accelerating change as fast as artificial intelligence and advancing cyber capabilities.”

“AI is here now, and it’s already changing the way militaries see, sense, decide, and act across the joint force,” the chairman proclaimed.

The first example Caine used to highlight these changes took place on June 8. After the Apache went down, “U.S. CENTCOM launched a rapid, responsive joint search and rescue effort to recover the crew. That response drew on the totality of the joint force, and ultimately was required to use enabled unmanned vessels to participate in the rescue of downed U.S. service members for the first time ever.”

A flight of U.S. Army AH-64 Apache attack helicopters, armed with rockets and Hellfire missiles, taxi out to conduct a scheduled flight in the U.S. Central Command area of responsibility. In addition to rockets and missiles, the Apache is additionally armed with a 30mm chain gun. (U.S. Army photo)
A flight of U.S. Army AH-64 Apache attack helicopters, armed with rockets and Hellfire missiles, taxi out to conduct a scheduled flight in the U.S. Central Command area of responsibility. In addition to rockets and missiles, the Apache is additionally armed with a 30mm chain gun. (U.S. Army photo) U.S. Army Central

As we noted in our previous coverage, CENTCOM deployed “a U.S. Navy Corsair unmanned surface vessel,” the command’s spokesman told us at the time.

The Corsair uncrewed surface vessel (USV) (Saronic)

The ability to pull off that rescue mission “did not appear overnight,” Caine pointed out. “It came from the men and women of Task Force 59, CENTCOM’s forward-leaning unmanned joint maritime unit who spent the last several years testing, integrating, and operationalizing unmanned systems and AI in one of the most demanding and kinetic environments on Earth right now.”

“What helped make this possible was not a bunch of general officers and flag officers,” Caine continued. “What made this possible was a bunch of entrepreneurial sailors and members of the joint force on watch floors, at piers, managing networks of unmanned systems across thousands of miles of water, and using AI to turn massive amounts of data into a crisp, clear, perfect maritime picture that allowed us to go grab those two soldiers in the water.”

A top-down view of the Saronic Corsair USV. (Saronic)

The second example Caine shared about the use of AI “points in the other direction, not how quickly we are using these tools, but how quickly these tools are changing the threat.”

In Ukraine, “we see first-person view drones operating in heavily contested EMI [electromagnetic interference] environments. Some now using AI-enabled computer vision to continue to drive towards targets, even when there’s no GPS or the links are cut. That gives small units affordable precision and shows how quickly software and autonomy are changing what is possible at the tactical edge, and the results are stark.”

The use of AI to enable lower-end drone warfare is a topic TWZ has been among the first to point out.

“In certain locations on the front line of troops right now, the life expectancy of a new Russian recruit arriving on the front lines is as little as 20 to 30 minutes,” Caine added. “Think about that. This is what happens when low-cost precision is fielded fast, adapted quickly, and scaled across the battlefield.”

“The price of lethal exchange is decreasing day over day,” the chairman noted. “One wonders what the future of close air support looks like, but I am comforted by the fact that each and every one of you are in this room thinking about that. Taken together, these examples from the Straits of Hormuz to the front lines in Ukraine show how quickly technology is changing the character of war, and this means our joint force needs to do two things at one time.”

“[W]e need to prepare the joint force to win in this kind of conflict,” the general stated. “We have to assume from now on that our formations will be hunted by autonomous systems, jammed across the spectrum, and tracked in real time, and we have to transition the joint force to be prepared to fight and win our future war by generating and delivering lethality at scale with an agile, optimized, high-low mix of combat capabilities to give the young members of the 2.8-million member all volunteer joint force the tools that they need before they need them.”

Contact the author: howard@twz.com 

Howard is a Senior Staff Writer for TWZ. He writes frequently about conflict, focusing heavily on the Middle East and Ukraine, and interviews with military and intelligence officials and industry leaders from around the globe. He lives near Tampa, Florida, home of U.S. Central Command, U.S. Special Operations Command.


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Judge Judy explains why she’s retiring now, after 30 years on TV

It appears Judge Judy has kicked off her retirement tour.

“Judy Justice” star Judy Sheindlin appeared with her son Adam Levy on “Good Morning America” on Wednesday to celebrate her 30th anniversary on TV, and to the hosts’ dismay, she confirmed she was “retiring from [the] in-front-of-the-camera TV bench.”

When asked why she felt now was the right time for her to conclude that chapter of her career, Sheindlin replied that there were a couple of factors.

“First of all, he was ready,” Sheindlin said, nodding toward Levy.

Levy’s syndicated courtroom TV show, “Adam’s Law,” which Sheindlin created and executive produces, premiered Monday.

“I’ve aged pretty well over the years,” she continued. “Reasonably. I look better than my grandmother did at my age, which didn’t take a lot. But it’s time for me to. I’m still going to be creative…. I’m just going to take the message and put it in a little bit of a different form. I’m going to become the Benjamin Button of court.”

Sheindlin previously mentioned that she now plans to focus on other endeavors, such as developing “Judyverse,” an adult animated series based on the viral “Baby Judge Judy” videos made with AI.

“I want to steal Baby Judge Judy back from AI,” Sheindlin told Amy Poehler on an episode of the “Good Hang” podcast last year. “I want to get more people involved with this character. Speaking through Baby Judge Judy would be a whole lot of fun, but you need the right writer.”

Sheindlin, 83, became one of the most recognized TV judges through her time on “Judge Judy.” The arbitration-based courtroom show premiered in 1995 and aired for 25 seasons before concluding in 2021. The streaming series, “Judy Justice,” launched shortly after in the same year and will wrap with its fourth season.

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Fed Rate Hike Squeezes an Already Stressed Private Credit Sector

Home Private Credit Fed Rate Hike Squeezes an Already Stressed Private Credit Sector

Fed rate hikes threaten to further strain direct lenders as private credit default rates hit record highs.

The private credit industry keeps insisting it’s fine. The data keeps suggesting otherwise, and Wednesday’s interest rate hike from the Federal Reserve isn’t going to help the argument.

The Federal Open Market Committee officially raised the federal funds target range by 25 basis points to 3.75%-4.00%. The decision, which was unanimous among the 12 board members, marks the first rate hike since 2023.

“Whenever the Fed increases rates, the pressure on the liability side becomes very high,” David Yahalomi, chief operating officer and co-founder of Tel Aviv-based loan-management platform Hypercore, said in an email.

Companies that borrow through direct lending typically carry floating-rate debt, meaning their interest costs rise automatically whenever the U.S. central bank moves rates. The hike officially pushes up borrowing expenses at a moment when defaults are already climbing to levels not seen before.

“In the event of a prime rate increase, this structure shrinks [private credit portfolio company] margins,” Yahalomi added. And the squeeze is already showing up in the numbers.

Borrowers Buying Time

A Fitch Ratings report from Monday shows that the U.S. Private Credit Default Rate, or PCDR, hit 6.3% for the 12 months ended in August. That’s up from 6.1% in July. The rate has now held at or above 6.0% since April. Here’s the credit rating agency’s breakdown of the findings:

  • Volume Surge: August logged 109 default events across 89 unique defaulters (up from 105 and 83 in July). The month alone saw 14 default events — a trailing-year high — driven by 11 new defaulters and three repeat offenders.

  • Punting the Debt: Distressed maturity extensions made up 45% of August events (41% over the past year), while payment-in-kind (PIK) structures and interest deferrals represented 47% TTM. Hard payment defaults comprised just 8%.

  • EBITDA Impact: Companies with less than $25 million in EBITDA posted a 12% default rate in August, though that’s actually down slightly from 12.3% in July. The bigger warning sign came from the $26 million-to-$50 million EBITDA bracket — Fitch’s largest cohort — where the default rate jumped to 5.2% from 3.9% in a single month.

  • Sector Hotspots: Healthcare and industrials tied for the highest default rates at 9.9%, while consumer products ticked down to 8.7%. Software posted a default rate of just 0.6% in August. That’s down from 1.2% in July and 2.0% a year ago — the lowest of any major sector.

While the overall PCDR blends middle-market CLO ratings (MCO) and insurer-monitored private ratings (PMR), August’s rise was driven by record stress in MCOs (5.6%), even as PMR rates eased slightly to an elevated 8.5%.

PIK Portfolios Are Insulated — For Now

Harvey Tian, Suntera Fund Services
Harvey Tian,
Suntera Fund Services

Harvey Tian, head of loan operations at Suntera Fund Services, said a size-weighted view changes how PIK interest should be read as well.

“Once the prime rate goes up, the terms on all the rates will increase, and it will definitely put pressure on the borrower side — the ones paying cash interest,” Tian told Global Finance on a call.

Loans structured with PIK options, however, aren’t paying cash interest at all, he noted. That insulates that particular pool of borrowers from a higher interest rate.

“I don’t see a huge effect on the underlying portfolio of PIK borrowers if it’s a one-time hike,” Tian said of Wednesday’s Fed announcement. A quarter-point increase would phase into the PIK rate structure over time rather than land all at once.

Multiple hikes are a different story, given the inflationary pressures caused by a worsening U.S.-Iran conflict.

Anthony Noto covers corporate finance and private credit. Contact him at anoto@gfmag.com.

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Iowa Republicans in battleground House races vote to halt the Iran war

Mike Catalini and Hannah Fingerhut

Two House Republicans in battleground Iowa districts, including one who recently campaigned alongside Defense Secretary Pete Hegseth, changed their position on an Iran war powers resolution, joining with Democrats and a few other dissident members of their party in an attempt to halt President Trump’s ability to continue military action without congressional approval.

The shift reflects the political pressure on Republicans before midterm elections that will decide control of Congress. The war remains unpopular and has led to soaring fuel prices.

Reps. Zach Nunn and Mariannette Miller-Meeks voted for the resolution with five other Republicans on Tuesday after previously voting against it.

“With the negotiating window closed, sustained combat operations now require congressional authorization,” Nunn, an Air Force veteran, posted on social media. “I will not support another open-ended war.”

Nunn campaigned with Hegseth last month in Iowa, and the Pentagon chief had lauded Nunn as an ally who didn’t need any last-minute, late-night phone calls from Trump to persuade him to support the president’s agenda.

“Zach Nunn is not a 3 a.m. congressman,” Hegseth said at a fundraiser for Nunn during the Iowa State Fair. “He’s willing to take the tough votes to do the right thing on behalf of our war fighters.”

Nunn is up against Sarah Trone Garriott in November’s election.

Miller-Meeks, an Army veteran, said in a statement the president needs to present a plan to Congress and the public showing how the war ends so “we can focus on bringing our soldiers home and lowering prices.”

“Americans do not want another forever war,” she said. “I will not vote to keep our soldiers in an open-ended war, with Iowans paying too much at the pump.”

She faces a reelection rematch against Christina Bohannan, whom she has defeated twice before.

Eighteen U.S. service members have died in the war with Iran. Two are from Iowa, and one used to live in Iowa.

National polling indicates that the Iran war remains unpopular with Americans overall. Only about 3 in 10 U.S. adults approved of Trump’s handling of Iran in a July AP-NORC poll, and a September New York Times/Siena poll found that most likely voters, about 6 in 10, think Trump’s decision to go to war with Iran was the wrong one.

Tuesday’s House vote was the third time lawmakers voted to end the war in Iran. The margin was similar to earlier efforts, with a few more Republicans joining all Democrats in voting to bring an end to the conflict.

In addition to Nunn and Miller-Meeks, retiring Rep. Nancy Mace of South Carolina joined Republican Reps. Tom Barrett of Michigan, Warren Davidson of Ohio, Brian Fitzpatrick of Pennsylvania and Thomas Massie of Kentucky in voting for the resolution.

Rep. Ashley Hinson, who represents northeast Iowa but is running to replace retiring Sen. Joni Ernst, voted against the resolution.

Republicans have been optimistic that Iowa will remain a red state, but the competitive races have gotten attention even from the White House. Trump visited suburbs of Des Moines in January and dispatched Vice President JD Vance in May to campaign for Nunn.

After Hegseth campaigned with Nunn, a group of over 400 former national security officials filed a complaint asking for an investigation into whether the secretary violated the Hatch Act, which restricts political activities by federal officials.

Hegseth’s office did not immediately respond to a request for comment.

Catalini and Fingerhut write for the Associated Press. Catalini reported from Morrisville, Pa.

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‘MNF’ announcer Joe Buck agrees to contract extension with ESPN

Joe Buck will call his seventh Super Bowl in February. It will be his first with ESPN — and, it turns out, won’t be his last.

The “Monday Night Football” play-by-play announcer and the network agreed to a six-year, $108-million extension, according to the Athletic. Buck’s deal was set to expire following this season.

Super Bowl LXI at SoFi Stadium will be broadcast on ESPN and simulcast on Disney sister network ABC. It will be the first Super Bowl on ESPN and the first on ABC since Super Bowl XL, which followed the 2005 season. The game is scheduled to rotate back to ESPN/ABC in February 2031.

While Buck seems locked in for that Super Bowl LXV broadcast, his longtime booth partner may not be — at least not yet. The Athletic reports that color commentator Troy Aikman remains unsigned beyond this season.

When asked about the contract situations for Buck and Aikman, an ESPN spokesperson directed The Times to a statement executive vice president of communications Josh Krulewitz gave to the Athletic.

“With this historic season for ESPN now underway, our entire focus is on bringing fans the best possible football coverage, culminating with our first Super Bowl,” Krulewitz said. “To that end, we won’t be addressing talent contract specifics publicly before the Super Bowl.”

Buck broke into broadcasting in 1989, calling games for the Louisville Redbirds, a minor-league affiliate of the St. Louis Cardinals. Two years later, he joined his father, Sports Broadcasting Hall of Famer Jack Buck, in the radio and TV booths for the Cardinals’ games.

In 1994, Buck was hired by Fox Sports. He eventually became the network’s top play-by-play voice for the NFL and MLB, calling 24 World Series and six Super Bowls for the network. Buck joined his father in the Sports Broadcasting Hall of Fame in 2022.

Buck and Aikman have been calling football games together since 2002 and left Fox for ESPN together before the 2022 season. Last season, “Monday Night Football” averaged 15.8 million viewers per game, the second-best ratings in ESPN’s 20 seasons of broadcasting the franchise (it averaged 17.4 viewers in 2023).

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Arab News | Federal prosecutors charge 3 with stealing $12m in homelessness aid in Southern California

CALIFORNIA: Three people were charged by federal authorities in Los Angeles on Wednesday with stealing $12 million in federal and state homelessness aid to pay for real estate, luxury trips and vintage vehicles.

It was the second such arrest of people on federal fraud charges in Southern California this week, as President Donald Trump’s administration tries to emphasize a crackdown on fraud and waste in government and aid programs. On Tuesday, 12 people were charged with stealing more than $10 million in federal childcare aid.

The three defendants each worked for or ran Southern California-based nonprofit organizations, which often contracted with city, county, state or federal agencies to provide aid or money to find housing and social services for homeless people. Prosecutors allege that the defendants used funds from those contracts to pay personal expenses, accepted bribes, and billed for services that were never provided.

“Make no mistake, HUD and the Trump administration will not tolerate the theft and abuse of taxpayers in this country,” Secretary of Housing and Urban Development Scott Turner said at a news conference.

Turner used the indictments to accuse the Los Angeles Homeless Services Authority, which approved grants to these defendants, of being negligent with taxpayer dollars.

Taxpayer aid spent on video games, nightclubs

Two defendants, Lakiya Malone, 48, and Michael Young, 46, were arrested early Wednesday in Los Angeles. A third defendant charged with wire fraud, Donye Mitchell, 55, is considered a fugitive.

Young is the founder of Home At Last, a nonprofit that took in more than $118 million in public funds since 2019 for its stated mission of providing housing and aid to homeless people.

Federal prosecutors say Young instead created shell companies that he claimed were independent contractors but were, in fact, controlled by him. This alleged self-dealing allowed Young to be paid both at Home At Last and overbill federal and local authorities, prosecutors said. They say Young misused an estimated $7.5 million in taxpayer funds through fake contractors and vendors.

Young used the proceeds to take luxury trips to Tahiti, and used funds to open a nightclub in Inglewood called the Six Seven Five Lounge and other commercial real estate projects, prosecutors allege.

Mitchell is the CEO of Big Blue Umbrella, which was awarded more than $1.2 million from a federally supported nonprofit for housing and mental health care aid. Prosecutors say Mitchell not only misstated his organization’s ability to provide such services, but also used money from the award to pay off his credit card debts, give funds to family members, buy video games and pay legal expenses for an unrelated case.

Malone was charged with accepting more than $180,000 in bribes from another homelessness-aid nonprofit. Malone allegedly not only accepted bribes but also placed people in homeless aid programs who weren’t homeless.

Separately, federal prosecutors announced that a fourth person pleaded guilty to wire fraud and money laundering charges for stealing at least $2 million in homeless aid. Alexander Soofer, the executive director of Abundant Blessings, admitted to working with Malone to bill federal and state authorities for homelessness aid services when there were no participants in his programs.

Big money, little documentation

Some 72,000 to 75,000 people live in shelters or encampments in Los Angeles and Los Angeles County, making it one of the largest homeless populations in the country. It has been a significant issue in Southern California for years, and Los Angeles Mayor Karen Bass made it a cornerstone of her 2022 election campaign.

City and county authorities spend roughly $1 billion a year trying to help the homeless population, often using LAHSA to coordinate aid. While significant funds are spent to address the issue, city and county reviews have repeatedly found that the programs lacked appropriate recordkeeping, audit trails and documentation.

Nathan Hochman, the district attorney for Los Angeles County, told reporters that the public should expect more investigations and indictments into the misuse of homeless aid funds. Hochman’s office’s investigation into Soofer and Abundant Blessings led to his indictment earlier this year.

“I can assure this is the beginning of these prosecutions and we are far, far from the end,” he said, adding that his office’s investigation had found that the only “abundant blessings” Soofer provided were to his friends and family.

Some of the Trump administration’s efforts to go after fraud and abuse of government benefit programs have faced criticism and legal challenges. In December, Vice President JD Vance, who chairs the administration’s task force on the subject, amplified a YouTube video of a popular right-wing influencer accusing childcare providers in Minnesota, many of them immigrants from Somalia, of running scams. State authorities visited the centers and found nearly all of them operating normally.

Nonetheless, the administration launched a massive immigration crackdown in Minnesota. Officials later attempted to freeze federal funds for childcare in five Democratic-led states but were halted by a lawsuit.

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Grand Designs’ Kevin McCloud admits ‘that’s painful to watch for me’ in show confession

Kevin McCloud appeared on BBC’s The One Show to discuss the latest series of Grand Designs which will see the presenter revisit a project from the very first series

Grand Designs presenter Kevin McCloud has confessed there’s moments from the Channel 4 show which leaves him reaching for the remote control.

The 67-year-old designer and presenter returns to television screens on Wednesday (September 16) to front a brand new series of the beloved renovation programme.

He has hosted Grand Designs since it began 27 years ago back in 1999 and appeared on BBC’s The One Show tonight to chat to Alex Jones and JB Gill about the new episodes set to air which will see the presenter revisit a project from the very first series.

When discussing watching back old clips, Kevin joked: “Yeah that’s painful to watch for me! I have to skip through the fast forward button a lot through these early episodes but the house has not changed, everything is as it was, and when you make the stuff and you record a moment in time, you don’t know whether that idea, that style and approach, whether it will last and have value, and remarkably that house has remained the same and is almost a fantastic example of a mid-1990s building so sometimes it comes back to surprise you.”

Channel 4 announced earlier this month that Grand Designs and Grand Designs: House of the Year will be coming back this Autumn. The iconic and much-loved house building and design show returns with four extraordinary new builds and two long-awaited revisits, spanning across the United Kingdom.

According to bosses, the new series series embraces bold ideas and innovation, showcasing pioneering construction methods and ambitious architecture whilst never losing sight of the people behind them.

Kevin previously said: “It is always a joy to get a series of Grand Designs complete and ready for broadcast – especially when it can run alongside its sister series, House of the Year.

“Together they celebrate the very best in British architecture and remind me of the extraordinary imaginative and resilient potential of human beings. This year is no exception: there are some astonishing stories and homes to discover.”

When asked what he believes is the reason that Grand Designs keeps coming back, Kevin explained: “I think it is the unpredictability of it all. If we were restoring people’s homes for them, then we might have slipped into a predictable format but we haven’t.

“Some of the projects on this series are fascinatingly unpredictable. For example, we see Seb in North-West London, building a house which was completed in 13 months and I was so shocked because O am used to things taking forever.

“We also have a project in Edinburgh, which has been going for over 10 years, and when you look at the date stamps as we go through the programme, you sort of appreciate how some people dedicate a lot of their lives to a building.”

He added: “I thought in series one we might run out of projects. We thought that we had done an eco-project, a modern white block, a glass house, we did the eccentric thing. We thought, will people still tune in if we do another glass box? But the answer is yes, because from the beginning we set ourselves the challenge that in every episode there has to be something new – there has to be some story, some angles, something, a hook.

“Luckily, since architecture is so much about place and response to a place and so much about people and response to people and because places are so infinitely diverse, people are infinitely diverse, this is what makes every project and what keeps me on my toes every time.

“If you look at this coming series, every single project has something unique about it and i find that so fascinating, all of the individual narratives are so different. The houses are all so unique architecturally and in the way they are built.”

The One Show airs weekdays on BBC One and BBC iPlayer at 7pm and Grand Designs returns to Channel 4 at 9pm on Wednesday, September 16

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Venezuela: Former Minister Saab Pleads Guilty to Money Laundering, to Cooperate with US Authorities

The former minister was handed over to US agencies in May. (Archive)

Caracas, September 16, 2026 (venezuelanalysis.com) – Former Venezuelan Industry Minister and government envoy Alex Saab pleaded guilty to conspiracy to commit money laundering and illicit financial transactions after reaching a plea deal with US prosecutors in a federal court in Miami.

Appearing before the US District Court for the Southern District of Florida, Saab changed his previous “not guilty” plea, entered on July 24, during a hearing before Judge Kathleen M. Williams. “Guilty, Your Honor,” the 54-year-old businessman stated during Tuesday’s session.

In his guilty plea, Saab admitted to participating, alongside “high-ranking officials” in the Nicolás Maduro government, in an “illegal scheme” involving bribes and illicit payments linked to the CLAP subsidized food program. The money allegedly obtained through the scheme was wired through accounts located in South Florida.

In the 12-page plea agreement, Saab named Socialist Party (PSUV) lawmaker José Gregorio Vielma Mora, who was governor of Táchira state at the time, as an alleged accomplice, alongside Colombian nationals Álvaro Pulido Vargas, Emmanuel Enrique Rubio González, and Carlos Rolando Lizcano. 

However, he also referred to two other individuals as “co-defendant 1” and “co-defendant 3.” Their identities have not been publicly disclosed by US prosecutors.

Saab also agreed to “fully cooperate” with the US Department of Justice (DOJ) by providing “truthful and complete information and testimony, and producing documents, records, and other evidence” in “any trial or judicial proceeding” requested by the US government.

He likewise agreed that he would not “protect any person or entity through false information or omission,” nor falsely implicate “any person or entity.”

The Colombian-born businessman also agreed to surrender US $195 million, along with properties and assets derived from the alleged crimes, to prosecutors. The government gave him 14 days to disclose all assets related to the offenses.

Saab, who stated that he suffers from post-traumatic stress disorder and takes antidepressants every night to sleep, could face a maximum sentence of 20 years in prison, as well as a $500,000 fine.

Nevertheless, prosecutors reportedly agreed to recommend a reduced sentence if his cooperation against the other defendants in the case proves valuable. His sentencing hearing has not been scheduled but is expected to take place in January.

The DOJ warned that it “reserves the right to evaluate the nature and extent of the defendant’s cooperation,” as well as the “quality and significance” of the information provided for the relevant investigations.

The agreement does not publicly specify which investigations Saab will be required to assist with or which other Venezuelan officials the US Justice Department is targeting. With Saab having been a key figure for Caracas to circumvent US economic sanctions, analysts have speculated that he could be a witness in the case against President Nicolás Maduro.

Maduro and First Lady Cilia Flores are facing charges, including drug trafficking conspiracy, after being kidnapped by US special forces on January 3.

The current case is the second criminal prosecution Saab has faced in the United States. In 2020, when traveling as a Venezuelan government envoy, he was arrested in Cape Verde during a refueling stop and subsequently extradited to the United States. He was on trial for separate money laundering accusations.

However, in December 2023, then-President Joe Biden granted Saab a pardon as part of a prisoner exchange between the United States and Venezuela. Saab returned to Caracas and joined the government as minister of industry. Following Maduro’s kidnapping, Acting President Delcy Rodríguez removed the former envoy from the cabinet in January before authorities handed him over to US agencies in May.

Venezuelan high-ranking officials claimed that Saab had committed fraud in acquiring Venezuelan citizenship and vowed to present evidence of his alleged long-term cooperation with US agencies, but no further details have been released to date.

Edited by Ricardo Vaz in Lisbon, Portugal.

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Fed raises rates for the first time since 2023 in unanimous vote defying Trump

Kevin Warsh has broken away from US President Donald Trump in his first Fed move, and he has done it with the entire committee behind him.


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The Federal Open Market Committee lifted rates on Wednesday after holding them at 3.5% to 3.75% since December, ending a pause that had grown harder to justify as energy costs pushed prices higher.

Not a single member dissented in a unanimous 12-0 vote.

That matters because the pressure ran in both directions as three regional presidents had voted for a hike in July, while the White House spent months demanding cuts.

Nobody voted for either extreme.

At the time of writing, the market reaction to the decision has been fairly muted likely due to the fact that the hike was widely expected.

A statement stripped to the bone

The Fed’s communication was as striking as its decision.

The statement ran to three short paragraphs, a fraction of the length markets are used to, with no forward guidance and no hedging.

“Inflation remains elevated,” it read, adding that “today’s policy action will support a timelier return to the Committee’s 2 percent goal.”

The word “timelier” carries an implicit admission that the return had been too slow.

Then a sentence the Fed almost never writes: “The Committee will deliver price stability.” Not seeks to, not is committed to. Will.

The economic assessment was also confident throughout.

Activity is “expanding at a solid pace”, domestic spending “has been resilient”, productivity growth is “strong” and capital investment “robust”, while job gains “have kept pace with the workforce”.

Uncertainty remains elevated, the Fed said, owing partly to “geopolitical developments”, its formulation for the Iran war.

By describing an economy in good health, the committee removed the argument that higher rates would damage growth, which is precisely the case US President Donald Trump has been making.

Boxed in by the data

The decision had been building for months.

Three regional Fed presidents dissented in July in favour of an increase, the most in one direction since 2016, and several others said afterwards they were ready to move unless inflation eased which it did not.

The Fed’s preferred gauge, the personal consumption expenditures index, ran at 3.7% in both June and July, with core inflation at 3.3%. Before the Iran war sent fuel prices climbing, core stood at 3%.

Consumer prices held at 3.4% in August, but the monthly increase of 0.4% was the sharpest since May, evidence the energy shock is feeding through. Inflation has now been above the 2% target for more than five years.

Warsh had effectively committed himself at Jackson Hole in August, telling the symposium he “would be hard pressed to describe broad financial conditions as restrictive” and warning that unless underlying inflation moved to target “clearly and at sufficient speed”, the Fed had “work to do”.

Markets took him at his word as the CME’s FedWatch tool put the probability of a rate hike above 90% before today’s decision.

Defying the president who chose him

US President Donald Trump had spent months demanding the opposite, insisting the country should have the lowest interest rates in the world and choosing Warsh partly on the expectation he would deliver them.

Warsh himself said while campaigning for the job that rates could come down.

The treatment of his predecessor sharpened the stakes as Jerome Powell was publicly attacked for moving too slowly, and the US Justice Department opened a criminal investigation into testimony he gave to Congress.

Today’s decision could also have a restoring effect on the perceived independence of the Federal Reserve as an institution.

The technical details point to a Fed settling in at the new level.

The interest rate on reserve balances rises to 3.90% from Thursday, the primary credit rate to 4%, and standing repurchase operations will run at 4%. Seven regional reserve banks requested the discount rate increase.

The Fed’s new dot plot shows 12 of 18 officials expect another 0.25% hike by year-end, taking rates to 4.125%, while four see rates reaching 4.375%.

The hawkish signal extends well beyond 2026 as 14 officials see rates ending 2027 above today’s level, while the 2028 median stands at 3.9% versus 3.4% expected.

The longer-run rate also rose to 3.2%, suggesting officials increasingly believe neutral rates have moved higher while economists also expect more to follow.

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Change in human trafficking reporting alarms advocates for migrant children

The Trump administration has ordered caregivers for migrant children to stop reporting human trafficking concerns directly to the office created to help victims, a change that critics say could make some vulnerable minors easier to deport.

The directive, in a Sept. 10 memo reviewed by the Associated Press, could mean that some victims would be denied services and face tougher odds of obtaining asylum and visas allowing them to stay in the United States.

“This is going to harm children,” said Jean Bruggeman, co-executive director of Freedom Network USA, a coalition that advocates for human trafficking survivors. “This makes it more likely they will be deported before they get the services they need and put back into harm’s way.”

The order added another plank to the Trump administration’s hard-line immigration agenda that has forged the most restrictive policies toward immigrants in more than a generation. Some of those efforts have been stopped by courts but many others have taken root.

The memo said the change would “streamline the reporting, tracking and referral of trafficking-related concerns.” An administration statement said the change was an effort to reduce the high number of claims that did not rise to the level of criminal human trafficking but nonetheless triggered the award of benefits and relief.

But Democratic Sen. Ron Wyden of Oregon said the change requires children and their advocates to report human trafficking to the same agency that is holding them in custody. “This move to sideline human trafficking experts is more evidence that the Trump administration will deport kids to score political points rather than actually protect them,” he said.

Office has helped thousands of trafficking victims

The change applies to 1,800 children who are in federal custody after arriving in the United States without parents or being arrested with parents who were not legally present, and others who have been released but remain under supervision.

Under longstanding policy, caregivers are required to conduct an initial screening of unaccompanied children for potential labor or sex trafficking within five days of admission to a facility or shelter. If they suspect the child is a victim, they have been required within 24 hours to notify the Office of Trafficking in Persons, which was created in 2015 to prevent human trafficking and protect victims.

If the office certifies the claim, the minors become eligible for a program that gives them greater freedom by allowing them to move out of short-term housing, placing them in foster care and allowing them to attend public school. It does not protect them from deportation immediately, but they can use the determination to pursue visas for victims of trafficking or asylum claims. It also grants eligibility for nutrition, housing and other public benefits once they are released from federal custody.

Thousands of unaccompanied minors have benefited from the office’s determinations. They are particularly susceptible to labor and sex trafficking, including in their home countries, on their way to the U.S. and after they arrive, and that’s why Congress has given them protections, Bruggeman said.

Administration says change will target improper claims

Under the change ordered last week by the administration, federal employees and care providers were told to no longer report labor and sex trafficking claims involving the minors to the Office on Trafficking in Persons.

Instead, the memo said those claims should be submitted only to the Office of Refugee Resettlement, which oversees the housing of unaccompanied minors. That office will now investigate the claims and decide which ones should be forwarded to the Office on Trafficking in Persons for further review, the memo said, warning that providers “must respond promptly to requests for information.”

In a statement, the Office of Refugee Resettlement said the change was driven by a review last year that found 95% of more than 9,000 reports “were determined not to be viable trafficking leads” for criminal investigators.

“The vast majority of the reports detailed instances of alleged abuse or neglect, not forced labor or commercial sex as defined in human trafficking statutes,” the statement said.

Even so, 58% of reports from shelter employees and case managers qualified for trafficking-related benefits. The change in reporting will “strengthen integrity, reduce improper referrals, reduce fraud, and ensure that children who may have experienced trafficking receive immediate support,” the statement said.

Former official questions rationale

Jen Smyers, who served as deputy director of the Office of Refugee Resettlement during the Biden administration, said the claim that the change will streamline reporting is questionable. She said ORR already gets the human trafficking reports but has no special expertise in evaluating them, unlike the office created for that purpose.

The fear is that legitimate claims will get delayed or missed during the new layer of review, and career employees will face political pressure to refer fewer cases, she said.

“It’s the opposite of streamlining,” Smyers said.

Smyers noted the change comes after what she called an “ onslaught ” of Trump administration policies that have undermined the ability of unaccompanied minors to gain legal status, including making it harder to leave federal custody, arresting sponsors in the middle of the release process, and cutting their legal representation.

“What they are trying to do is deport as many as possible. What interferes with deporting children is if they are eligible for protections Congress has given them,” she said.

Foley writes for the Associated Press.

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Arab News | Can Britain enforce its planned ban on trade with Israeli settlements?

LONDON: UK Foreign Secretary Ed Miliband last week fired the starting gun on efforts to end British trade with Israeli settlements in the occupied West Bank.

The government plans to introduce legislation within six to nine months. The question now is whether Britain’s existing customs and sanctions infrastructure is equipped to distinguish and block such trade.

“In a word, no,” one customs expert told Arab News, pointing to the difficulties Britain faced after leaving the EU.

“Obviously, the scale was completely different.”

UK trade with Israel totaled about £6 billion last year, while trade involving West Bank settlements amounted to just over £8 million, according to the Israel Manufacturers’ Association. By comparison, UK-EU trade runs into hundreds of billions of pounds annually.

“But you do not have the issue of needing to distinguish between two economies,” the customs expert added.

That distinction lies at the heart of the enforcement challenge.

For years, campaigners have warned of the difficulties in reliably distinguishing goods originating inside Israel from those produced in settlements in the occupied West Bank.

“This is why the obvious answer is to simply sanction all Israeli goods,” a legal academic told Arab News, arguing that such an approach would be easier to enforce.

Such a step, however, would go significantly beyond the government’s stated policy. Miliband and the government have sought to distinguish their opposition to settlements from opposition to Israel itself.

Sources familiar with briefings between Foreign Office officials and the British Embassy in Tel Aviv told The Times that officials had raised concerns about the practical difficulties of enforcing a settlement-specific regime.

One source told the newspaper that ministers had been warned policing the measures would be difficult because of problems tracing the precise origin of shipments.

Those concerns were underlined shortly before Miliband’s announcement when the nonprofit legal group Global Echo threatened legal action against HM Revenue and Customs.

Goods produced in Israeli settlements have been excluded from preferential tariff treatment under the UK-Israel trade agreement since 2005.

Global Echo, however, says weaknesses in the system have allowed settlement products to enter European markets while being declared as Israeli goods.

Its investigation analyzed more than 30,000 export documents over a nine-year period up to February this year and found that about one in six agricultural shipments listed as Israeli were in fact products originating in settlements.

“Global Echo identifies a number of Israeli exporting companies that its evidence reveals have exported settlement goods to the UK and asks HMRC to explain whether it has taken any steps to check, investigate or verify preferential tariff claims made in respect of those products, and, if so, what those inquiries found,” the group said.

“Should HMRC fail to adequately address these concerns, Global Echo plans to pursue legal action.”

Not everyone considers enforcement an impossible task.

Amnesty International has strongly backed restrictions on trade with Israeli settlements, arguing that they “are at the heart of Israel’s illegal occupation and system of apartheid — and the trade that sustains them must be stopped.”

It has pointed to the Office of Financial Sanctions Implementation and the Office of Trade Sanctions Implementation, which already have powers to impose civil and criminal penalties and have been used to enforce sanctions against Russia since 2022.

HMRC and the Foreign, Commonwealth and Development Office declined to comment to Arab News.

However, Arab News understands the government regards enforcement as a priority as it seeks to curb economic activity supporting settlements, which Britain considers illegal under international law.

Government sources have stressed that strong action could be taken against companies and individuals that breach the measures, including the potential confiscation of assets deemed to be the proceeds of crime.

The customs expert warned, however, that the effectiveness of the policy would depend on how clearly the government explains the rules to the companies moving goods and processing the accompanying paperwork.

“My experience from Brexit leaves me concerned,” the expert said.



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Arab News | French ex-minister Dati goes on trial in Renault-Nissan corruption case

PARIS: France’s ex-culture minister Rachida Dati appeared in court Wednesday on corruption charges linked to dealings with the Renault-Nissan group, just months after her bruising defeat in the Paris mayoral race.

One of the most prominent figures on the French right, Dati, 60, stood in court dressed in black to hear the charges against her, all of which she denies.

Carlos Ghosn, the fugitive former Renault-Nissan chief now living in Lebanon, is being tried in absentia.

Dati has been dogged by controversies for much of her political career.

She resigned as culture minister in February to concentrate on the Paris mayoral race, but lost to Socialist rival Emmanuel Gregoire in March.

She stands charged with corruption and influence-peddling over alleged lobbying for Renault-Nissan between October 2009 and February 2013 while she was a member of the European Parliament.

She became an MEP after serving as justice minister between 2007 and 2009 under President Nicolas Sarkozy.

She has been accused of accepting 900,000 euros (around $1 million) in lawyers’ fees from a Netherlands-based subsidiary of Renault-Nissan.

Dati, who is still the mayor of the French capital’s wealthy seventh district, denies all the charges.

She faces up to 10 years in prison and a fine of up to 450,000 euros, if convicted. She could also face a five-year ban on holding public office.

Her legal team said Dati worked “exclusively” as a lawyer for the Netherlands-based subsidiary.

“Unfounded allegations of influence-peddling in the European Parliament stem from an artificial intellectual construct devised by the prosecution,” her lawyers said.

– ‘Explain facts’ –

French prosecutors argue that a legal services contract signed in 2009 between Dati and Ghosn, under which the former minister was paid an annual fee of 300,000 euros, was used to disguise lobbying work.

Investigators obtained the contract in 2019 during a search of Renault’s headquarters following Ghosn’s arrest in Japan, in a separate case.

Ghosn, the 72-year-old former chairman and chief executive of the Renault-Nissan-Mitsubishi alliance, was arrested in Japan in 2018 on suspicion of financial misconduct, before being sacked by Nissan’s board.

He made a dramatic escape from Japan hidden in an audio-equipment box, landing in Beirut, where he remains at large.

Ghosn faces a litany of charges, including abuse of power and bribery. He has denied any wrongdoing.

In a letter sent to the court in August and seen by AFP, Ghosn requested that the proceedings be postponed.

Denying any attempt to “delay the trial”, Ghosn said he was prepared to appear by video link to “explain facts” that he disputes.

Dati has repeatedly sought to have the charges against her quashed.

She has also been accused of accepting nearly 300,000 euros in undeclared payments from energy group GDF Suez, also while an MEP.

Prosecutors said last year they were looking into reports that Dati failed to declare jewelry and watches worth 420,000 euros upon taking ministerial office.

She has denied any wrongdoing.

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US Fed raises interest rates as inflation weighs on economy | Inflation News

DEVELOPING STORY,

The 25 basis-point hike is the first raise in three years and comes ahead of critical midterm elections in the United States.

The United States Federal Reserve has said it will raise interest rates by a quarter of a percentage point as inflation, driven by soaring fuel prices amid the US-Iran war, continues to weigh on the economy.

The Fed, which is the central bank of the US, said on Wednesday that it will hike interest rates by 25 basis points to 3.75 percent to 4 percent.

It is the first hike in more than three years and comes just weeks before the US midterm elections, despite repeated demands from US President Donald Trump to lower rates.

“Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient,” the Fed said in a statement on Wednesday.

“Inflation remains elevated. Today’s policy action will support a timelier return to the Committee’s 2 percent goal. The Committee will deliver price stability.”

After Wednesday’s hike, Fed officials expect one more rate increase this year, according to their quarterly projections.

CME FedWatch, which tracks the likelihood of monetary policy decisions, forecast a 92.3 percent chance of the Fed increasing rates to 3.75 to 4 percent. A week ago, that forecast was a 40 percent chance of a quarter-percent rate increase.

But in the days since, a slew of data shifted those expectations.

For one, consumer prices jumped in August by 0.4 percent, the highest increase in four months. On an annual basis, prices rose 3.4 percent, matching the increase recorded in July, while the job market remains healthy.

Since then, benchmark crude oil prices have continued to soar as strikes in the US-Israel war on Iran have intensified. Brent crude hovered near $109 per barrel on Tuesday.

The average price for a gallon (3.8 litres) of petrol is $4.36, up 14 cents in the past week, and up from $4.06 in the last month, according to the American Automobile Association (AAA), which tracks daily petrol prices.

Diesel, on the other hand, was at $6.31, the highest recorded average and roughly double from a year ago. That, in turn, is expected to further stoke prices as diesel is used in trucks to haul everything from fruits and vegetables to steel and cement.

At the same time, the benchmark 10-year Treasury yield broke above the psychologically important 5 percent threshold on Tuesday, hitting 5.02 percent, its highest level in 19 years. The yield serves as a benchmark for borrowing costs, including car loans and home mortgages, and is a bellwether for inflation.

“The economy is in an unusual place,” Michael Klein, professor of international economic affairs at Tufts University’s Fletcher School and executive editor of EconoFact, a nonpartisan economic and social policy publication, as unemployment remains at a comfortable level while higher prices continue to stick, sending inflation beyond the Fed’s target of 2 percent.

“There [has been] a lot of pressure on Chairman Warsh to raise interest rates because of inflation coming in high, and that has been compounded by concerns about Trump’s pressure” as the president has continued to demand that interest rates be lowered, Klein said.

“Higher interest rates tend to weaken the economy… but if the market believes that there’s going to be a rate increase, it’s priced in already as prices move on news, so this won’t be news,” Klein said, adding that should help steady yields.

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Paramount, Atty. Gen. Bonta ordered to meet for merger settlement talks

Paramount Skydance will meet with California Atty. Gen. Rob Bonta’s representatives next month for court-ordered settlement talks that could clear a path for David Ellison’s $111-billion takeover of Warner Bros. Discovery.

The two sides will convene for two days, Oct. 14 and Oct. 15, according to court documents filed this week.

The talks come as both sides look for ways to resolve the pitched battle over Hollywood’s industry-reshaping deal, which would put HBO, CBS, CNN, TBS, Food Network, Comedy Central and the Paramount and Warner Bros. studios under one roof. Bonta and 11 other Democratic state attorneys general sued in July to block it, and Ellison’s team has been stoking political pressure on Bonta to retreat.

Bonta canceled preliminary last month after details of a session on ground rules leaked, accusing Paramount of “playing games” by violating a confidentiality agreement and spreading misinformation.

Bonta’s Paramount case appears to have ruffled the Trump administration. He sued one month after the U.S. Justice Department blessed the merger without demanding concessions — a decision he said showed federal officials were not doing their jobs to enforce antitrust law. This week the department weighed in on Paramount’s side.

“The United States enforces the federal antitrust laws and has a strong interest in their correct application,” the Justice Department said in a Tuesday filing, describing its unique position to bring antitrust actions. Its “statement of interest” argued that the plaintiffs had sued as “private persons,” who must clear higher hurdles than the federal government.

The department also asked the judge to force California, the other states and the Writers Guild of America to post a $1.88-billion bond, covering fees Paramount would owe Warner Bros. Discovery shareholders if the deal isn’t finalized by Oct. 1. Paramount agreed to the so-called ticking fees earlier this year, confident the deal would sail through regulatory review. Bonta’s office said Wednesday it stands by its earlier filings arguing it should not have to post the bond. A hearing is set for Sept. 24.

Paramount’s chief legal officer, Makan Delrahim, has been quarterbacking the campaign for Warner Bros. Discovery. He served as Trump’s antitrust chief in his first administration, when he led an unsuccessful effort to block AT&T’s takeover of the company, then known as Time Warner Inc. That 2018 deal was the first of two acquisitions that saddled Warner Bros. with instability, strategic misfires and a mountain of debt, paving the way for the Paramount bid — which would mark the third time in a decade the storied studio has changed hands.

Trump has been eager for Ellison to shake up CNN, a Warner property, following his reboot of CBS News, which has coincided with diminished ratings at “60 Minutes”.

Ellison’s company has won approvals from more than 65 international regulators, and Paramount expects the Trump-appointed Federal Communications Commission leadership to sign off on a foreign ownership arrangement that would give Middle Eastern royal families a nearly 50% equity stake in the merged company. Bonta’s lawsuit is the remaining obstacle to closing.

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Arab News | Verstappen needs 35 minutes to pass 100 karts at Silverstone and win Red Bull challenge

SILVERSTONE, England: Max Verstappen needed about 35 minutes to overcome 100 karting drivers in a Red Bull event at Silverstone on Wednesday.

Verstappen started 101st at the Silverstone karting circuit, and overtook 64 drivers on the first lap alone, with many of his opponents crashing among themselves.

Many got blocked on the track after a pile-up that prompted a full-course yellow flag. Verstappen went off track but was able to return.

“That was simply lovely,” Verstappen said. “It was a lot of fun.”

Verstappen, who finished second in Formula 1’s Spanish Grand Prix on Sunday, was up to 37th after the first lap, and up to sixth place by the sixth lap.

He went off track again but stayed comfortably faster than most drivers, none of them with any significant professional driving experience.

He said jokingly that the victory ranked as “the best one yet” in his career.



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I stayed at the quintessential English pub with ‘dream’ bedrooms and insanely good food

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CALLING all foodies – this might just be the country pub with the best food in Britain.

Here’s everything else you need to know about staying at The Freemasons at Wiswell.

The Freemasons at Wiswell makes for a cosy stay
It offers a six-course tasting menu or an a la carte menu Credit: Supplied

Where is The Freemasons at Wiswell?

The beautiful country pub is in the heart of a pretty sandstone Lancashire village.

What is the hotel like?

Lots of nooks and crannies ensure you enjoy the buzz of a busy spot, but also have privacy to enjoy the company of family or friends.

The inn itself was once three cottages, one of which was a freemason’s lodge.

What are the rooms like?

The room we stayed in was in a property next door so we had no noise from the bar and enjoyed a peaceful sleep in the countryside.

BOOZE AND SNOOZE

Best pub rooms you can rent on Airbnb with free breakfasts & dogs welcome


GOTTA SEA IT

I stayed at the Cornish pub with rooms that couldn’t be closer to the sea

Our room – Mr Hare – boasted a super king bed, and a stunning rolltop bath on a mezzanine floor.

Luxury touches included fluffy towels and dressing gowns as well as a Nespresso coffee machine and premium, handmade bath and body products.

“My dream bedroom”, said my wife.

Rooms start from £125. See freemasonsatwiswell.com.

The Sunday lunch uses seasonal produce in a welcoming setting Credit: Alamy

What is there to eat and drink at the hotel?

The kitchen is led by executive chef Michael Shaw who has worked for some of Britain’s best known chefs including Gordon Ramsay and Raymond Blanc.

We visited on a Thursday so Mike popped out of the kitchen and encouraged us to enjoy a six-course tasting menu (£85pp).

English asparagus, cornish crab, stuffed mushrooms, glazed duck and salted white chocolate.

Andrew, our host, allowed us to choose some wine, before choosing us a better bottle of red. An a la carte menu is also available.

The following morning we enjoyed a three-course breakfast – fresh baked pastries, smoked salmon and cured meats and a delicious cooked breakfast.

Even if not staying at the hotel, the Freemasons is a lovely place for a pint, or a celebratory meal. Sunday lunch (£39.50 for two courses) looks good too.

What else is there to do there?

Chocolate box Wiswell is lovely to stroll around before or after a meal.

A few minute’s drive away is the popular village of Whalley which features lovely little shops, wine bars and traditional pubs.

We got into the car and drove 15 minutes to nearby Barley and spent a lovely couple of hours walking up 557-metre Pendle Hill, famous as the spot where ten people were hanged during the 1612 Pendle Witch trials.

Is it family friendly?

For families, it is advisable to get in contact to discuss the needs of your stay so there’s plenty of room for everyone.

Is there access for guests with disabilities?

Freemasons at Wiswell offers disabled access rooms on the ground floor.



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The Obamas’ family dog Sunny dies, the former president says

The Obamas’ pet dog Sunny has died, former President Obama said Wednesday.

Sunny, a 13-year-old Portuguese water dog the Obamas got in 2013 while living in the White House, died Tuesday.

“We got Sunny at the start of our second term in the White House, and all of us — including our first dog, Bo — immediately fell in love,” he said on social media.

He remembered Sunny as athletic, full of energy and protective of Bo. Despite Sunny’s breed, she hated getting wet.

“We will miss her terribly, and imagine she’s with her big brother now, making sure he’s okay,” Obama said.

Bo died in 2021.

While many presidents have kept dogs as companions, President Trump does not have any pets at the White House.

George H.W. Bush’s English springer spaniel, Millie, “wrote” the bestseller “Millie’s Book.” President Clinton’s chocolate Labrador retriever, Buddy, was in the family as Clinton weathered the scandal over his affair with White House intern Monica Lewinsky.

George W. Bush’s Scottish terrier, Barney, had an official web page and starred in “Barneycam” videos that were filmed by a camera around his neck. Lyndon B. Johnson angered animal lovers by lifting his beagle, Him, by the ears in front of news photographers.

Harry S. Truman famously advised: “If you want a friend in Washington, get a dog.”

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