money

The votes are in, and it’s bad news for John McCain. Barack Obama has a big lead in the sale of campaign buttons and other election paraphernalia, outselling McCain 3 to 1 on one memorabilia website.

An Obama victory could make some of those pieces more valuable, experts say, given the historic nature of his candidacy. A button from the launch of Obama’s presidential campaign sold for $150 in August at the American Political Items Collectors National Convention.

If you think there’s no redeeming value to the interminable exercise known as the American presidential campaign, you are not a collector. The stock market may have tanked, but the longest presidential season in U.S. history has stimulated a different kind of investment opportunity.

“This year more than any other, people are collecting political memorabilia,” says Adam Gottlieb, a spokesman for the California Energy Commission and a presidential-item junkie whose extensive Teddy Roosevelt collection is on exhibit through the end of the year at the California Historical Society in San Francisco. “People are yearning for nostalgia, something meaningful in their lives.”

On Monday, the PBS series “Antiques Roadshow” gets into the act with “Politically Collect,” a program that pulls back the appraisal curtain on presidential artifacts worth considerably more than the paper or tin on which they’re printed — up to $75,000, for instance, for a photograph of Lyndon B. Johnson taking the oath of office after President Kennedy was shot in 1963.

“Political items have really gone up in price,” says Jeffery Daar, an attorney and Democratic Party activist whose Northridge home overflows with buttons and other memorabilia from the last 40 years of electioneering.

Presidential paraphernalia has long been the domain of hard-core political fans such as Daar, who live to unearth an obscure invitation or rare tchotchke. But in the last decade, the field has also become a place to make a tidy profit. A 1920 button of Democratic presidential candidate James Cox and his running mate, Franklin Delano Roosevelt, can sell for as much as $30,000. Last month, a signed photo of John F. Kennedy was going for $4,200 on Politics-Now.com. EBay and political memorabilia auction sites have made it possible for anyone to click their way into the game.

The collecting impulse is driven by something the afflicted say you can’t get from stamps or Cabbage Patch stockpiles.

“It’s not just a button, but an item in a political campaign. It’s a piece of living history,” says Daar, former head of the Democratic Party in the San Fernando Valley and a longtime delegate to his party’s conventions, where he scoops up all the mementos he can.

“Every collector of political memorabilia is also a frustrated historian,” says Steve Ferber, who sells mementos of presidents and hopefuls with his wife, Lori, through LoriFerber.com.

Tom Morton, a Los Angeles accountant specializing in pre-1930s items, recently landed clay smoking pipes puffed by Millard Fillmore and Franklin Pierce.

“It’s one thing to read about it in a history book,” he says. “It’s quite another to hold it in your hands.”

But not all candidates inspire collectors to reach out and acquire. Tom French, a leading dealer and owner of Politicalheritage.com in Santa Cruz, says it’s hard to give away a Nixon button. It’s also tough unloading Michael Dukakis, Bob Dole and George W. Bush fare.

Not surprisingly, the most in-demand figures tend to be the most charismatic and popular presidents — Abraham Lincoln, FDR and Theodore Roosevelt, JFK, Ronald Reagan. Harry Truman also vaults into the ranks of the most valuable because scant artifacts were produced for the candidate who was a long shot to win in 1948.

Scarcity, popularity and age are major factors in the pricing of political memorabilia. An abundance of items were produced for 1940 Republican candidate Wendell Wilkie, including some fabulous Wilkie nylons ($40) and buttons that said, “No Man Is Good Three Times,” all to no avail against the popular FDR. So many Wilkie items are in circulation, they’re cheap — not like the Cox-FDR button, valued at $30,000 because only a few dozen are known to exist. Some scarce Truman items can run about $10,000.

For collectors, a crucial consideration is whether the material was produced by the campaign. Daar says 95% of the buttons and T-shirts available for sale in the current cycle were made by outside vendors and won’t be worth much. Look for official items created by the Obama and McCain campaigns and materials with specific dates and events attached to them, such as an Obama button from the rural caucus, something Daar likes for future value.

Collectors recommend buying things you like — favorite candidates or graphics that catch your eye. And if you want to buy for investment, do the research to make sure the item is authentic. You can get help by joining American Political Items Collectors ($28 a year, www.apic.us), a national organization founded in 1945 that sponsors dozens of button meets every year and authenticates artifacts.

Avid collectors, however, are drawn to the outsized characters who seek the highest office in the land and the creative wiles used to get them there.

“There’s got to be something behind the item — the personality, the election, the historical context, or you might as well be collecting nails,” says Neal Machander, an Orange County collector and past president of American Political Items Collectors.

The exploits of rough-riding, big-game-hunting Teddy Roosevelt have captivated Gottlieb since he was in grade school. “It’s like he lived six lives,” Gottlieb says.

His collection contains mementos of Roosevelt’s whistle stop in Los Angeles on his trip through California in 1903. When it comes to straight talk, it’s hard to top this line from a Roosevelt button in 1912: “If You’re Against Me, You’re a Crook.”

The sedate catch phrases of modern elections are as exciting as a phone book next to the raucous sloganeering of the early 20th century. Take, for instance, the 1928 rallying cry on an anti-prohibition button: “Vote for Al Smith and Make All Your Wet Dreams Come True.” Last year, it sold at auction for $9,560.

“Collectors really eat up the hoopla,” says French, who adds that he’d kill on “Jeopardy” in the VP category. “It’s an important representation of what democracy and politics are all about. We’re just in awe of the office.”

—

home@latimes.com

The deep cuts proposed in Gov. Pete Wilson’s new state budget surely would hurt Los Angeles and Orange counties. That’s because both the Republican governor and some legislative Democrats want to balance Sacramento’s budget by taking state funds from the counties. The outlook is especially grim for large counties. There must be a better way.

THE CUTS: Although L.A. County has only about a third of the state’s population, it would endure more than half of the total cuts in statewide county funding that Wilson is proposing, according to Chief Administrative Officer Sally R. Reed. Altogether, L.A. County would lose $362 million in health care funds and property taxes.

Under the proposed diversion of property taxes, Los Angeles and 11 other counties would lose $500 million; Los Angeles would be hit with a reduction of more than $100 million.

A Senate-Assembly conference committee is offering an alternative budget plan, but it does not offer much relief for the counties. In fact, the alternative plan adds a new headache for counties–a proposed cut of $32 million in annual subsidies to county probation camps. The result would be a Los Angeles cutback of as much as $19 million.

Until his latest budget revisions, Wilson largely had spared counties of any further cuts in state funds. This new round of proposed reductions in state funding could not come at a worst time. Los Angeles County–already reeling from budget problems caused in part by previous state cutbacks–has yet to agree on a new county budget. The proposed state cuts make this task a torture.

Orange County, too, would suffer from the Democratic proposal to end the annual subsidies to the county probation camps. But Orange County’s loss of funds due to the shift of local property tax revenues would, it is hoped, be partially offset by projected increases in interest earnings on county investments.

THE COUNTERATTACK: Assemblyman Richard Katz (D-Sylmar) has scheduled an emergency meeting Monday in Sacramento with Los Angeles County representatives, legislators, the Department of Finance and others to review the magnitude of the proposed reductions in state funding to counties. The participants will try to identify alternatives to the proposed county budget cuts or find ways to raise revenue to avoid the reductions.

The emergency meeting should put all plausible options on the table. There’s been some talk in Sacramento of even a temporary salary cut for all public employees, legislators included.

Los Angeles County is still grappling with the aftereffects of the defense downsizing, recession and the Northridge earthquake. With the recent defeat of state bonds to finance earthquake repair, residential rebuilding efforts have already suffered one major setback. Trying to balance Sacramento’s budget on the backs of counties exacts an unfair toll on Los Angeles and California’s other densely populated areas, and that cannot be good for the future economic life of this state. All Assembly and state Senate members who care about their communities must rally around the counties.

U.S. and Iranian negotiators made significant progress in talks on Tuesday, moving closer to a framework agreement to end the war, according to a report by Axios citing two U.S. officials.

Mediators from Pakistan, Egypt, and Turkey are working urgently to bridge

Families, in their various flavors, have been essential to television since that light first flickered on. They may be ideal or nightmarish, or both, or in between, and we take to them — be they Waltons or Addamses or Simpsons — according to our own experience or desires, having known families of our own or wanted something other than what we had.

In “Schitt’s Creek,” Dan Levy co-created — with his father, Eugene, yet — one of the medium’s greatest family comedies. It was a show that grew over time from a basic premise about rich people who lose their money and are forced to live at close quarters in adjoining motel rooms to a paean to love, understanding and acceptance. It swept the comedy categories at the 2020 Emmys, including acting awards for both Levys, Catherine O’Hara and Annie Murphy and writing and directing trophies for Dan.

“To family” are in fact the last words spoken in the first season of “Bad Mistakes,” Levy’s noisy, funny new show, co-created with Rachel Sennott and now streaming on Netflix — though given what precedes it, it’s less a blessing than a curse. Levy plays Nicky, a pastor at a sparsely attended suburban New Jersey church of no evident denomination. He’s out as gay, but supposedly celibate; that he has a boyfriend, Tareq (Jacob Gutierrez), is known only to Tareq; this, of course, creates a secret, which will create pressure, which will create comedy.

Sister Morgan (Taylor Ortega) is an elementary school teacher, a job that doesn’t quite jibe with everything else we see about her — it’s barely represented, anyway, summer having come — and a very longtime boyfriend, Max (Jack Innanen), who has decided that now is the moment to propose. She had once tried acting in New York, which means that she lived a wilder life once and is something of an improviser. Their mother, Linda (Laurie Metcalf), who owns a hardware store, is running for mayor and the campaign is being managed by extra daughter Natalie (Abby Quinn).

The series begins as their grandmother is dying, and at Linda’s command, they rush out to buy her a present — Linda is trying to squeeze in an “early birthday” before her mother passes. And because she is that sort of person, Morgan shoplifts what she imagines is a cheap necklace from a convenience store. (Attendant Yusuf, played by Boran Kuzum, will have much to do.) The necklace isn’t cheap, it turns out, for no particularly good reason, and the convenience store isn’t just a convenience store, but a kind of waystation for stolen goods run by local Russian mobsters. As a result, Morgan and Nicky find themselves forced to run errands for them, under threat of death, or worse.

The show gets very complicated on its way to a circular semi-conclusion; there is a lot going on, with Linda’s mayoral ambitions and various relationship issues. (Elizabeth Perkins plays Max’s mother, bridging storylines.) But it’s a good ride, and classic in its way; searching the phrase “get mixed up with gangsters” brings forth a host of old comedies. Through the dodgiest situations, brother and sister do not hesitate to argue. Nicky would love to be anywhere else, while Morgan finds it invigorating. Though it is all improbable, the parts do mesh neatly; they make television sense.

Finally, the series rests on the shoulders of the three principal players, who are just a pleasure to watch; the camera obliges by moving in close. Levy brings a soft-spoken breathlessness you may recognize from his David Rose on “Schitt’s”; his softly muttered “OK,” which might just mean “stop talking,” is almost a trademark. Ortega brings a kind of poignance to her reborn wild child, while Metcalf plays Linda with a kind of small-town operatic intensity, eyes popped and pronunciation precise — she’s like a country cousin to O’Hara’s Moira Rose — as if she were onstage pitching to the back row of the theater.

Michelle Pfeiffer and Elle Fanning in “Margo’s Got Money Troubles,” premiering April 15, 2026 on Apple TV.

(Allyson Riggs/Courtesy of Apple)

In “Margo’s Got Money Problems, premiering Wednesday on Apple TV, Elle Fanning plays the title character, a college student flattered into bed by her married-with-children writing professor, Mark (Michael Angarano), despite my shouting at the screen for her not to do it. Soon she is pregnant, and soon after that the essentially single mother of baby Bodhi, unable to find work or the time to write. (As the heroine, we assume her talent.)

Presumably in search of some normalcy, Margo’s mother, Shyanne (Michelle Pfeiffer), a former good time girl — but still sparkly — has become engaged to Kenny (Greg Kinnear), Christian, square and sincere; the Ralph Bellamy of the piece, you are not asked to take him quite seriously (though Kinnear plays him straight). Shyanne’s ex-husband is Jinx, a former professional wrestler, played by Nick Offerman with the low-key affect of Ron Swanson, dialed down even further; depression and drug addiction will do that to you. Fresh out of rehab, he trades a championship belt for a motorcycle and joins the household; though he left Margo early, and unlike Shyanne, he proves to have a marvelous, easy way with Bodhi. (The baby himself, or babies — they use twins for this job — are themselves marvelous.)

Also in residence is roommate Susie (Thaddea Graham), a chirpy cosplayer — and coincidentally Jinx’s biggest fan — whose skills will become valuable as Margo, needing cash, sets off into the world of OnlyFans. First picking up tips describing followers’ penises in terms of Pokémon (no explanation has been thought necessary), she pivots to video, mounting increasingly elaborate sexy sci-fi productions alongside Susie (sets and costumes), Jinx (narrative advice, stunt coordinator) and OnlyFans veterans KC (Rico Nasty) and Rose (Lindsey Normington), a fabulous tag team to whom Margo turns for advice. (Margo does seem to take things over, but it’s her name in the title, so there you go.) This introduces an element of Mickey and Judy, my uncle’s got a barn, let’s put on a show comedy. More important, it creates a team, melding the family you make with the family you have.

It’s as sweet as can be. Apart from sleeping with one’s professor — students, do not do this! — the show is positive about just about everything: motherhood, daughterhood, professional wrestling, second chances, sex work, cosplaying and the way art shows up in strange places. Only Marcia Gay Harden, as Mark’s mother, Elizabeth, is an outright villain, and you will hate her.

The series was created by David E. Kelley (Mr. Michelle Pfeiffer), from Rufi Thorpe’s 2024 novel, once again under the umbrella of Nicole Kidman’s Blossom Films (following their collaborations on “Big Little Lies,” “Nine Perfect Strangers” and “Love & Death”), with its house style of well-upholstered capital-Q Quality (as distinct, in its pop-cult, way, from prestige). (Kidman has a small role as a wrestler-turned-lawyer and it’s been a while since I’ve seen her this well used.) “Margo’s Got Money Problems” can be terribly sentimental, almost corny — the climax is pure Hollywood — but undeniably effective. And if its mix of comedy and drama can be a little destabilizing, you won’t need to worry about where it ends up.

Published on
15/04/2026 – 11:25 GMT+2

The European Commission on Wednesday imposed anti-dumping duties on glass fibre —a key input for the EU’s renewable industry— produced by Chinese companies operating in Egypt, Bahrain and Thailand.

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The move confirms the EU’s push to curb Chinese imports entering the bloc via Belt and Road routes to sidestep tariffs on products officially labelled “made in China.”

Brussels seeks to shield its market from a surge of low-cost imports from the Asian giant, targeting goods it considers heavily subsidized or sold in the EU below production cost in China.

The tariffs on glass fibre from the three countries will range from 11% to 25.4% of the product’s value.

“The investigation confirms the existence of unfair practice, which is an important signal,” Ludovic Piraux, President of Glass Fibre Europe, said.

But he added that the measures adopted “remain insufficient to fully address the predatory strategies pursued through these investments in third countries.”

Job losses loom

China has invested $1 trillion through the Belt and Road initiative – a large-scale infrastructure programme which replaced the former silk road initiative and is aimed at strengthening connectivity, trade and communication across Eurasia, Latin America and Africa. The programme spans more than 150 countries, supporting infrastructure, transport, raw materials extraction and the relocation of industries and state-owned enterprises abroad.

As early as 2010, following an industry complaint, the Commission imposed anti-dumping duties on Chinese glass fibre imports. In the years that followed, Chinese producers established factories in Bahrain and Egypt, from which exports to the EU resumed.

By 2024, glass fibre imports from those countries, along with Thailand, accounted for 24% of the EU market. Egyptian imports alone reached 18%, with Glass Fibre Europe warning the situation could worsen.

This is not the first time the Commission has targeted Chinese products made in third countries under Belt and Road arrangements. It has previously imposed measures on aluminium foil from Thailand and glass fibre produced in Türkiye.

European glass fibre manufacturers have been pushing for action for more than a decade, alongside unions seeking to protect jobs in the sector.

The complaint which lead to Wednesday’s anti-dumping duties was first reported by Euronews in January 2025.

The industry directly employs more than 4,500 workers in the EU and says it supports hundreds of thousands of indirect jobs along the value chain.

Judith Kirton-Darling, General secretary of industriAll Europe, warned that “in the longer term”, the situation could worsen if the EU does not take “a stronger” stance on Chinese dumping.

“It is more than likely that we will face plant closures in Europe which will fundamentally undermine our industry,” she said.

European stocks were mostly steady on Wednesday as investors weighed signals from Washington that a diplomatic breakthrough in the Iran war could be imminent.

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The pan-European Stoxx 600 had ticked down 0.1%, Germany’s Dax edged 0.11% higher and the FTSE 100 climbed 0.11%. The CAC 40 in France fell by a slightly greater margin, at 0.65%.

US President Donald Trump said fresh talks between Washington and Tehran “could be happening over the next two days” in Islamabad, signalling a possible diplomatic breakthrough, and added that the war was “very close to over” — despite continued uncertainty over key sticking points in negotiations.

Asian markets were broadly higher.

Japan’s Nikkei 225 gained 0.5%, South Korea’s Kospi jumped 3.0% and Hong Kong’s Hang Seng edged up 0.7%.

The Shanghai Composite added 0.2%, while Australia’s S&P/ASX 200 was little changed, up less than 0.1%.

On Wall Street, the S&P 500 added 1.2% to its gains from the previous day, and the index at the heart of many 401(k) accounts is now just 0.2% below its record set in January.

The Dow Jones Industrial Average rose 317 points, or 0.7%, while the Nasdaq Composite climbed 2%.

On Wednesday, benchmark US crude inched up by 1 cent to $91.29 a barrel.

Brent crude added 48 cents to $95.27, or less than 1%, after falling 4.6% the previous day. While that is still above its roughly $70 level from before the war began in late February, it remains well below the peak of $119.

Lower oil prices help reduce costs for businesses across the economy. However, some analysts noted that the war is still ongoing, warning that the optimism may prove unfounded.

“The counterintuitive decline in crude appears driven by growing hopes that a second round of peace talks between Washington and Tehran could soon materialise, after the first attempt fizzled out,” said Tim Waterer, chief market analyst at KCM Trade.

“Traders are clearly choosing to price in the possibility of de-escalation rather than the immediate reality of restricted flows,” he added.

Asian nations depend on access to the Strait of Hormuz, a narrow waterway that is the main route for crude oil produced in the Persian Gulf to reach customers worldwide. Disruptions there have kept oil off the global market, driving up prices.

Global inflation this year is expected to accelerate to 4.4% from 4.1% in 2025, according to the International Monetary Fund, which had previously forecast a slowdown to 3.8%.

The IMF also downgraded its forecast for global economic growth to 3.1% this year, from 3.3% projected in January.

Overall, the S&P 500 rose 81.14 points to 6,967.38. The Dow Jones Industrial Average gained 317.74 points to 48,535.99, while the Nasdaq Composite climbed 455.35 points to 23,639.08.

In the bond market, Treasury yields eased as falling oil prices reduced inflationary pressure. The yield on the 10-year Treasury fell to 4.25% from 4.30% late Monday.

In currency trading, the US dollar edged up to 159.03 Japanese yen from 158.79 yen. The euro stood at $1.1780, down from $1.1797.

US stocks climbed to the brink of a record high on Tuesday, while oil prices eased as hopes grew that Washington and Tehran may resume talks to end their war.

The S&P 500 rose 1.2%, leaving it just 0.2% below its January peak. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq Composite jumped 2%, tracking broader global market gains.

Investors are betting that renewed diplomacy could prevent a prolonged surge in oil prices and inflation, allowing focus to return to corporate earnings.

Brent crude for June delivery fell 4.6% to $94.79, down from recent highs, though still above pre-war levels.

However, volatility remains high, with markets sensitive to developments around the Strait of Hormuz, a key route for global oil supply.

SACRAMENTO — Eric Swalwell is out — of the California gubernatorial race and Congress, spending time with family, as they say, after allegations of rape and sexual misconduct. That could be considered good news for the slew of Democrats who remain in the running, and even the two Republicans currently polling near the top.

But this muddled campaign season has clearly failed to capture voters’ imagination. This despite a sex scandal, a billionaire spending his millions, a dark horse spending tech-bro millions, a debate where the invitations were so controversial the event was canceled and a sheriff seizing ballots in a failed MAGA-pandering stunt. (President Trump ended up backing his opponent.)

After all that, you’d think Californians would care, at least in a spectacle sort of way.

But they don’t. At least not yet.

So is “undecided” going to remain the leader in the race until voters are forced to fill in their ballots? Even Republicans, with the Trump-endorsed Steve Hilton and Riverside Sheriff Chad Bianco as their main choices, can’t make up their minds.

Times columnists Anita Chabria and Mark Z. Barabak ponder why the race is such a hot mess, who benefits from the Swalwell implosion, whether anyone will ever get excited about any of these candidates — and what all that means for the future of California.

Chabria: We are less than 50 days out from the primary on June 2 and somehow this race remains both boring and unpredictable.

There’s lots of talk about whether the two remaining top Democratic candidates, former Rep. Katie Porter and billionaire investor Tom Steyer, will scoop up Swalwell’s supporters — or if a second-tier contender such as San José Mayor Matt Mahan, former state Atty. Gen. Xavier Becerra or ex-L.A. Mayor Antonio Villaraigosa may rise from the near-dead with a surprise surge.

With such a short amount of time and candidates who have already proved their lack of charisma, I’m worried that what happens next really comes down to money — which Steyer and Mahan have. Mahan’s tech-industry backers are already said to be lining up millions of dollars in ad buys to blitz his name and image on our consciousness in these final days, like a breakfast cereal we didn’t know we wanted to buy.

Ditto Steyer, though he’s got a much higher profile and backing from several key unions.

Do you think that money is going to rule the finish line in this one, or do any of the other candidates have a shot through sheer determination?

Barabak: Let’s be real.

If Tom Steyer was some schmo named Tom Steinway without a vast fortune buoying his political ambitions, he wouldn’t be remotely in the running, much less talked about as one of the putative front-runners. As it is, Steyer has burned through the equivalent of a small country’s GDP and he’s still not cracking 15% in polls.

That’s not exactly a ringing endorsement, notwithstanding all those he’s managed to leverage through his wealth.

California has a long history of rejecting moneybag candidates. In fact, not one has ever been elected governor. That said, we’ve never seen a contest like this one — and that was before Swalwell’s candidacy went up in salacious smoke.

The closest parallel — absent that above-referenced self-immolation — was in 1998. Voters weren’t crazy about the two leading candidates, including a rich guy blasting them with a firehose of TV advertising, so they opted for the colorless guy running far back in the pack. (And yes, dear reader, Gray Davis was eventually recalled, but that came well after the fact.)

There’s a saying in Iowa, around its presidential caucuses. The secret is to organize, organize, organize and then get hot at the end. California, obviously, is not the kind of state you win by holding a million and one kaffeeklatsches. But the principle — lay the groundwork, then count on timing and good fortune — could apply here.

Who might that be? Mahan’s sudden cash gusher can’t hurt. But your guess is as good as mine.

Chabria: The thing about organizing is that for Democrats, much of that work is done by labor unions. They provide the people, the phone banks, the door knockers. The California Labor Federation this time around endorsed basically everybody (Swalwell, Steyer, Villaraigosa and Porter), giving none of the Democratic candidates an advantage.

In a rare move, the California Labor Federation and Service Employees International Union California pulled their endorsement of Swalwell, as have other unions after these allegations came out. But labor remains split among the other candidates (though Steyer seems to be gaining unions’ affections), a real problem when it comes to that kind of organizing.

It’s that division of real people power that makes me worry money will have even more influence this time around.

But also, there is the unknown. There’s chatter online that a famous or strong contender (Kamala? A celebrity?) could stage a last-minute write-in campaign. Although state law no longer allows a write-in for the general election, there’s a tiny window left for one in the primary. What do you think? Could someone new swoop in and excite the voters enough to go rogue?

Barabak: Well, there’s Steve Cloobeck.

Who, you’re probably asking?

He’s a rich real estate developer who quit the race in November after an unsung yearlong campaign. Upon exiting, he enthusiastically endorsed his close friend, Eric Swalwell.

Speaking with our colleague Seema Mehta, Cloobeck said he wished the Legislature would amend the state Constitution so he could file to reenter the governor’s race — a delusion right up there alongside President Trump comparing himself to Jesus.

Seriously, political gossips abhor a vacuum, so they fill it with all sorts of fantastical scenarios of candidates riding in on white horses and rescuing us from … what exactly?

I’ve been the rare voice arguing this governor’s race is not at all boring. Boring would have been Kamala Harris holding a commanding lead for the Democratic nomination and people speculating whether anyone could stop her. While this bunch of candidates won’t send laser light dancing across the darkened sky, there are plenty of quite capable people still in the running, unless you’re looking for someone to entertain and/or offer California four years of distraction and diversion.

And we’ve seen what putting a reality-TV star in the White House has gotten us.

Chabria: At the end of the day, or at least election day, this is a question of whom we trust with the future of California. Ultimately, that’s why this race is a hot mess — none of the candidates, Republican or Democrat, have offered a vision inspiring enough to make voters want to trust them with the next four or eight years.

To me, that’s the real failure here. I don’t think voters would mind boring at all, if it was dolled up with credibility and competence.

I agree with you that we don’t need another reality star in any elected office. And more than one of these candidates has the skills to run the state. But in an era of deceit, arrogance and flashy incompetence, voters do want someone they feel they can trust.

So far, none of the candidates have delivered that sense of security, that they are campaigning as a public servant — instead of the thirsty contender hoping for a rose.

So either someone steps up and earns the rose, or it goes to the top-two least-worst. The June primary is holding on to her secrets for now.

Barabak: You know me; always one to look on the bright side!

If you’re a Republican, the bright side is the long shot, but not impossible, prospect of Bianco and Hilton nabbing both spots on June 2. That would mean one of the two lands in the governor’s office in January, notwithstanding California’s overwhelmingly Democratic leaning.

For an unaffiliated voter and political noncombatant like me, a Californian who deeply cares about my home state, the bright side is this: At least people are finally paying attention to the governor’s race.

So dive in! You’ve got just under seven weeks to make up your mind.

President Trump has signed a bill restoring federal funding to tech startups in California and elsewhere, money that had been held up for more than six months.

The Small Business Administration money, a key source of capital for new aerospace and defense firms in the Los Angeles region, ran out in October after a Congressional impasse.

The Small Business Innovation and Economic Security Act signed by Trump on Monday funds the Small Business Innovation Research (SBIR), the Small Business Technology Transfer (STTR) and related programs.

They provide more than $4 billion in seed funding to commercial startups that provide valuable services to the government and public, stimulate the economy and help maintain the country’s competitive edge.

The money is awarded by multiple agencies, including the Health and Human Services and Energy departments and NASA, with the military distributing the largest portion.

The funding has helped launch defense and aerospace startups across Southern California, including Costa Mesa autonomous weapons maker Anduril Industries, now valued at more than $30 billion.

Sen. Joni Ernst (R-Iowa), chair of the Senate Committee on Small Business and Entrepreneurship, held up reauthorization over concerns some startups had become reliant on the money instead of developing commercial businesses. She proposed a bill with a $75-million lifetime funding cap for individual companies.

Sen. Ed Markey of Massachusetts, the committee’s ranking Democrat, contended the bill would crimp innovation and hurt companies.

The reauthorization includes no lifetime caps but requires departments to set limits on how many times companies can apply each year for the SBA funding, prioritizing startups .

The bill also establishes a Strategic Breakthrough Allocation program that awards up to $30 million in SBA funding to a single company provided it can bring in matching funding.

The new program is intended to assist startups to become commercially viable after they run through their SBIR or STTR funding, which are intended to fund feasibility studies and prototypes. STTR requires a partnership with a research institution.

Other provisions in the bill include new due diligence standards to prevent any tech developed by the startups from falling into the hands of adversaries such as China .

“With a bipartisan, five-year reauthorization signed into law, small businesses are once again empowered to create these innovative technologies and tackle our nation’s most pressing challenges head-on,” Markey said in a statement.

Published on
14/04/2026 – 15:39 GMT+2

Viktor Orbán has positioned Hungary as a European centre for Chinese electric vehicle manufacturers, while disregarding the EU’s tariffs on them.

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Now his political successor, Péter Magyar, appears less inclined to reverse that policy in a radical way.

At a press conference on Monday following a landslide victory against Orbán, Magyar praised China as “one of the most important, largest, and strongest countries in the world.”

“I am very happy to travel to Beijing, and we are very happy to welcome Chinese leaders here in Hungary,” he added.

Magyar also said he would “review” Chinese investments in Hungary – particularly on electric vehicles – but “not with the aim of shutting them down or preventing them from happening.”

In recent years, Hungary was eager to attract Beijing’s largeness, with BYD building its first European passenger EV factory in Szeged in 2024 and major firms such as CATL, NIO and EVE Energy investing heavily in the country.

But that open-door policy has increasingly clashed with the EU’s push to tighten scrutiny of Chinese investments, as China floods Europe with low-cost imports and as many as 600,000 job losses are projected in the EU in the bloc’s auto sector this decade amid intensifying competition from Chinese manufacturers.

Magyar will also have to deal with concerns over alleged forced labour involving Chinese workers at Hungarian plants of EV giant BYD, as well as a recent European Commission probe into unfair subsidies at the same site. Those developments have tarnished the company’s reputation and raised concerns over Beijing’s investments.

Driving more value from investment in Hungary

At his press conference on Monday, the leader of Hungary’s Tisza party did not enter details. But he made clear that Hungary would align its policy more closely with Brussels.

“Rather, the goal is to ensure that those projects comply with European Union and Hungarian environmental regulations, health procedures, and labour safety standards, and contribute to the performance of the Hungarian national economy,” Magyar added.

He also appeared determine to distance himself from Orbán’s wariness of a recent European Commission proposal on “Made in Europe,” which targets China.

The draft law, currently discussed by EU governments and MEPs, would impose stricter conditions on foreign direct investment above €100 million in sectors such as batteries, electric vehicles, solar panels and critical raw materials.

Under the proposal, investors from countries holding 40% of global market share in a given sector would be required to hire at least 50% of EU workers. Additional conditions could include foreign ownership caps below 49%, joint ventures with European partners and technology transfers.

“What we do not want — and will not accept — is for foreign companies to come, receive significant Hungarian state support, employ very few Hungarians, create little to no added value for the Hungarian economy, and at the same time endanger the quality of Hungary’s land, air, and water,” Magyar added, signalling his intention to align policy more closely with Brussels.

PetroTal (PTALF) reported a robust start to 2026, with Q1 production averaging 14,907 barrels of oil per day (bopd), outpacing management’s internal expectations.

While production saw a slight 2% sequential decline, the company maintained a strong liquidity position with $128.1 million in total

Trading on Tuesday began with high expectations that the Iran war is inching to a close, fuelling gains across major stock markets and pushing oil back under $100 a barrel.

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Investors remained hopeful for a lasting de-escalation of the conflict, now in its seventh week, as the US and Iran are said to be weighing a second round of talks before a temporary ceasefire agreement expires next week.

The US military on Monday began a blockade of Iranian ports as Washington steps up pressure on Tehran, following weekend ceasefire talks between the two sides that ended without agreement.

Trump also suggested on Monday that the United States is still willing to engage with Tehran.

“I can tell you that we’ve been called by the other side,” he said, without elaborating further.

Oil prices continued to pull back on Tuesday from earlier gains.

Brent crude, the international standard, was down 0.8% at $98.62 per barrel, nearing 8 am CET.

It reached nearly $104 early on Monday amid Iran war concerns and limited progress in weekend ceasefire talks.

Benchmark US crude fell 1.7% early Tuesday to $97.40 a barrel.

The global energy shock stemming from maritime traffic disruptions in the Strait of Hormuz, through which roughly a fifth of the world’s oil is typically transported, has led to surging fuel prices and threatens to push up inflation in many countries and weigh on economic growth.

Stock markets are hungry for good news

Investors were quick to recover after the dismal first trading day on Monday. Asian markets were mostly up on Tuesday morning, tracking Wall Street gains.

Tokyo’s Nikkei 225 was up 2.4%, while South Korea’s Kospi jumped more than 3% to 6,004.30.

Hong Kong’s Hang Seng rose 0.4% to 25,759.75, while the Shanghai Composite climbed 0.6% to 4,010.45.

This comes as China on Tuesday reported worse-than-expected export growth.

The world’s second-largest economy expanded its exports by 2.5% in March year on year, significantly slower than the previous two months as uncertainties rose from the Iran war and its impact on energy prices and global demand.

The March data missed analysts’ estimates and was sharply down from the 21.8% export growth recorded in January and February.

Wall Street rose on Monday. The S&P 500 gained 1%, the Dow Jones Industrial Average climbed 0.6% and the Nasdaq Composite added 1.2%.

Shares in Goldman Sachs fell 1.9% despite the investment bank posting better-than-expected quarterly profits.

In other trading, gold and silver prices rose on Tuesday. Gold was up 0.6% at $4,796.60 (€4,219.62) an ounce, while silver gained 1.8% to $77.05 (€67.80) per ounce.

The US dollar fell to ¥159.08 from ¥159.45. The euro was trading at $1.1766, up from $1.1759.