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Treasury made Trump’s tax returns available to Congress

by archyde December 1, 2022

The US Treasury Department said on Wednesday that it had applied Supreme Court decision who authorized ten days ago the transfer of Donald Trump’s tax returns to Congress.

Donald Trump, who recently announced he plans to run for president in 2024, has consistently refused to release his tax returns while in the White House – something every other president has done since the 1970s. – and had turned to justice to block a parliamentary request demanding these documents for the years 2015 to 2020.

After many episodes, a federal court of appeal had authorized the tax services at the end of October to transmit these documents to the commission of the House of Representatives. The former president then sent an urgent appeal to the Supreme Court of the United States to block this transfer. This one had suspended on November 1 the transmission of the documents while waiting to have the elements to decide on the merits. After receiving arguments from both parties, she finally rejected Donald Trump’s request on November 22.

The «Trésor complied with the Court’s decision last weeksaid a ministry spokesperson. Committee members were not immediately available to comment on this information. The House of Representatives is controlled by Democrats until January, after losing a majority in the November 8 midterm elections to Republicans.

SEE ALSO – An independent prosecutor appointed to investigate Donald Trump

December 1, 2022 0 comment

Economy

Oil benefits from speculation of an OPEC+ production cut

by archyde November 30, 2022

Oil prices continued to rise on Wednesday, still driven by market expectations of a reduction in the OPEC+ production target at its next, ultimately virtual, meeting. Around 12:00 GMT (1:00 p.m. in Paris), a barrel of Brent from the North Sea for delivery in January, which is the last day of trading, took 2.48%, to 85.09 dollars. The barrel of American West Texas Intermediate (WTI), for delivery the same month, climbed 2.24%, to 79.95 dollars.

Both crude oil benchmarks benefited “speculation that OPEC+ may decide to cut production quotas further at Sunday’s meeting“say the analysts of DNB Markets. The representatives of the thirteen members of the Organization of Crude Exporting Countries (OPEC), led by Saudi Arabia, and their ten allies led by Russia, who were to meet face-to-face on Sunday in Vienna, headquarters of the cartel of oil producers. oil, will finally opt for “the virtual formatA source close to the organization told AFP on Tuesday.

This format changesuggests a renewal and not a further reduction in production“, according to the firm Oilytics. The majority of analysts, however, expect a further drop in quotas, after the reduction of the group’s production target of 2 million barrels per day for November, decided at the beginning of October in order to support prices. Because since this last meeting, the prices of both WTI and Brent have fallen by almost 9%.

«Demand outlook clouded by weakening global economy and rising Covid cases in China“, continue the analysts of DNB Markets. The market is also awaiting the weekly US crude and gasoline inventories report, released by the US Energy Information Agency (EIA). Analysts expect a sharp drop of 3.123 million barrels of crude, but an increase of 2.25 million barrels of gasoline, according to the median consensus established by the Bloomberg agency.

November 30, 2022 0 comment

Economy

Tokyo Stock Exchange ends down while waiting for Powell

by archyde November 30, 2022

The Tokyo Stock Exchange ended Wednesday in the red for the fourth session in a row, having preferred to remain on the reserve before a speech by the chairman of the American Federal Reserve (Fed) Jerome Powell later in the day. The flagship Nikkei index lost 0.21% to 27,968.99 points and the broader Topix index dropped 0.37% to 1,985.57 points.

On the Hong Kong Stock Exchange, on the other hand, the Hang Seng index was up 0.61% around 0650 GMT, after having already jumped more than 5% the day before. Investors continue to believe that Beijing will be forced to let go of its zero-Covid policy, which is damaging to the national economy and now causing protests in the country.

Jerome Powell is scheduled to deliver a speech Wednesday at the Brookings Institution, a Washington think tank, on the economic outlook, inflation and the labor market in the United States. Investors are particularly hoping that he will implicitly confirm that the Fed’s next rate hike in mid-December will be limited to 50 basis points.

Among the indicators, industrial production in Japan fell more than expected in October (-2.6% over one month), according to preliminary data published on Wednesday, a harbinger of the difficulties to come with the slowdown in the world economy. In China, manufacturing activity continued to fall in November for the second month in a row and more strongly than expected there too, according to official figures also published on Wednesday.

On the side of values

The title of the Japanese pharmaceutical group Eisai rebounded on Wednesday (+3.82% to 9,332 yen) after losing 6% the day before due to concerns about the safety of its new anti-Alzheimer’s drug lecanemab, co-developed with the American Biogen.

The full results of a clinical study on this treatment, published Wednesday in the New England Journal of Medicine, confirmed its effectiveness but also its sometimes severe side effects. However, the mortality rate was almost the same in the group of patients treated with lecanemab as in the placebo group.

On the side of currencies and oil

The dollar / yen rate was almost unchanged, hanging on the upcoming speech of the President of the Fed: one dollar was worth 138.59 yen around 06:50 GMT against 138.63 yen the day before at 21:00 GMT. The euro appreciated very slightly, at 143.26 yen against 143.20 yen on Wednesday, and trading for 1.0336 dollars against 1.0330 dollars the day before at 9:00 p.m. GMT. On the oil market, the barrel of American WTI gained 0.75% to 78.79 dollars around 0640 GMT and the barrel of Brent from the North Sea gained 1.04% to 83.89 dollars.

November 30, 2022 0 comment

Economy

Twitter no longer fights Covid misinformation

by archyde November 30, 2022

Like Facebook, Instagram and YouTube, during the pandemic, the platform had specific rules in place to combat misinformation related to vaccines and the pandemic.

Gone are the days of promises and guarantees: Elon Musk set out to disrupt content moderation on Twitter, from mass reinstatement of banned accounts to ending the fight against Covid misinformation. “As of November 23, 2022, Twitter will no longer enforce the Covid-19 Misrepresentation Policy”indicates a very rare, and very brief, press release from the San Francisco company, which was not relayed until Tuesday, November 29 by the American press.

Like Facebook, Instagram and YouTube, during the pandemic, Twitter had specific rules in place to combat fake health information. The platform had notably decided to report and remove messages containing misinformation about Covid vaccines, then to suspend the accounts concerned after five warnings. “We believe this disclaimer system will help educate the public about our policies and better reduce the spread of potentially harmful or misleading information on Twitter”explained the social network in March 2021.

Watch the videoWill Elon Musk sink Twitter?

But Elon Musk, owner and boss of the platform for a month, advocates an absolute vision of freedom of expression. And he has never made a secret of his opinion about the health restrictions put in place during the pandemic, especially when they meant the temporary closure of his Tesla factory in California. “Telling people they can’t leave their homes and that they would be arrested if they did is fascist. It is not democratic. It is not freedom. Give people back their damn freedom”he got carried away in April 2020, during a conference call for financial analysts.

The people’s voice”

Upon his arrival at the head of Twitter, and between two provocations, the multi-billionaire tried to reassure NGOs and advertisers who feared an outbreak of toxic content (hate speech, misinformation, etc.). He reiterated that the platform’s rules had not changed and that banned accounts would not be reinstated until a content moderation board was established. A waste of time: many brands have fled, and Elon Musk, feeling betrayed, has taken action. He launched polls on his profile, according to him reflecting the “voice of the people”and has the profile of ex-president Donald Trump (suspended in January 2021 for calling for violence) reinstalled.

According to the specialized newsletter Platformerthe bubbling leader also asked the engineers still employed to restore some 62,000 accounts that had been banned for repeated violations.

November 30, 2022 0 comment

News

A man suspected of a murder in 2010 in Brittany arrested in Senegal

by archyde November 29, 2022

A 59-year-old man, under an arrest warrant since October for the death of his wife in 2010, was arrested Thursday, November 24 in Senegal, we learned Tuesday, November 29 from concordant sources.

«An extradition request is in progress in order to allow the return of the person arrested to the national territory with a view to his presentation to the investigating magistrate.“, writes in a press release the public prosecutor of Saint-Brieuc, Nicolas Heitz, confirming information from the Parisian website. This man doesthe subject of an extradition measure, he was imprisoned and at the disposal of the Dakar public prosecutor’s office“, told AFP a Senegalese police source.

He was arrested in the seaside resort of Saly, 80 km south of Dakar, by the Criminal Investigations Division (Dic, judicial police), after a notice from Interpol, the private Senegalese newspaper Liberation reported on Monday.

Véronique Duchesne, 47, died between October 6 and 9, 2010. A judicial investigation for murder had been opened a few days after the discovery of her body, according to the Saint-Brieuc prosecutor. Her spouse hadinitially, was placed under the status of assisted witness“said Mr. Heitz. The investigating judge issued an arrest warrant against him on October 25, 2022.

SEE ALSO – A bus driver fired because he dropped off the children in front of their home

November 29, 2022 0 comment

Economy

further deterioration in consumer confidence in November

by archyde November 29, 2022

Consumer confidence deteriorated again in November in the United States in an economic context still complicated between persistent inflation and risk of recession, according to the index published Tuesday by the Conference Board.

The general index fell to 100.2 points in November, against 102.2 points the previous month, a level significantly close to that expected by analysts who expected 100 points according to the consensus of briefing.com. If the decline is not more marked than expected, “the level remains depressed compared to the pre-pandemic period. Overall, these data send a negative signal about future household spending. But for now, consumption continues to be positive and to support growth.“, noted in a note the chief economist of HFE for the United States, Rubeela Farooqi.

Sharp decline

«Consumer confidence has fallen again, most likely due to the recent increase in pump prices“, said Lynn Franco, senior director of economic indicators for the Conference Board, quoted in the press release. In detail, the index measuring the current situation lost 1.3 points in one month, to fall to 137.4 points, against 138.7 points a month earlier, which had been marked by a sharp deterioration in this index. . This declinehighlights that the economy has lost momentum as the year draws to a close, with short-term consumer expectations remaining gloomy“, according to Ms. Franco.

The perception of the coming months remains much more negative, with an index which lost another 2.5 points to fall to 75.4 points for November. An index below 80 corresponds to a level associated with a recession. This decrease is mainly due toinflation expectations reaching their highest level since July, driven by rising gasoline and food prices. The combination of inflation and rising rates will continue to weigh on confidence in early 2023“, has also anticipated Ms. Franco.

Inflation remained high in October in the United States, at 7.7% over one year according to the CPI index, even though it has been falling significantly for several months.

November 29, 2022 0 comment

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