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Bloomberg | Bloomberg | Getty ImagesBEIJING — China's real estate problems may be massive, but analysts expect the upcoming Third Plenum to focus on other areas — such as high local government debt levels and a push for advanced manufacturing. "For real estate markets, I don't think it should be a focus of the plenum, because it's already [in a] state that everyone has a consensus [on]," Wang said. watch nowIn his view, excessive growth of the financial sector was behind the hollowing out of the U.S. industrial sector. "Consequently we must constrain the financial industry, including real estate. That's the underlying reason for tightened regulations on both real estate and finance."
Persons: Larry Hu, Hu, Xi Jinping, Deng Xiaoping's, Dan Wang, She'll, it's, Wang, hasn't, Yao Yang, Yao, Goldman Sachs Organizations: Chinese Communist Party, Bloomberg, Getty, BEIJING, Communist Party of, Macquarie, CNBC, Central Committee, Communist Party, Party, President, Hang Seng Bank, HSBC, HSBC It's, Committee, China Center for Economic Research, Peking University, U.S, China Morning Post, Financial Regulatory Administration, World Bank, Big Data Locations: Communist Party of China, Beijing, China, United States, Big Data China
SpaceX's Falcon 9 is pictured launching satellites to orbit in space after it lifted off from the Vandenberg Space Force Base in California, U.S., in this screenshot obtained from a handout video released on July 12, 2024. SpaceX's Falcon 9 rocket is grounded, pending an incident investigation, after an inflight failure — a rare misfire for the company's workhorse vehicle. The mission, known as "Starlink Group 9-3," launched from California's Vandenberg Space Force Base on Thursday evening and was carrying 20 satellites bound for low Earth orbit. But the rocket's upper second stage failed to reignite its engine as planned and was destroyed, SpaceX CEO Elon Musk confirmed. Falcon 9 is grounded until the Federal Aviation Administration signs off on SpaceX's investigation of the incident, the federal regulator confirmed.
Persons: SpaceX's, Elon Musk, Musk Organizations: Vandenberg Space Force, California's Vandenberg Space Force Base, SpaceX, Federal Aviation Administration, FAA, CNBC Locations: California, U.S
CNN —Rudy Giuliani is no longer entitled to bankruptcy protection, a judge decided Friday, making it possible for creditors to immediately pursue his assets within days. Judge Sean Lane of the federal bankruptcy court in New York made the decision partly because of Giuliani’s lack of transparency after he filed for bankruptcy more than six months ago. The worth of those other assets is unclear, as creditors accuse Giuliani of downplaying or not disclosing complete estimates of the value of what he owns. The creditors believe one World Series ring alone would sell for nearly $30,000, according to court filings in his bankruptcy case. Giuliani agreed to end his bankruptcy proceedings, after Freeman and Moss suggested that approach earlier this week.
Persons: CNN — Rudy Giuliani, Giuliani, Ruby Freeman, Shaye Moss, Sean Lane, Lane, Giuliani hadn’t, Giuliani hasn’t, Mr, ” Lane, ” Giuliani –, , Moss, Freeman, Joe DiMaggio, Singer, Donald Trump, CNN’s Sabrina Shulman Organizations: CNN, New, Mercedes, Benz, New York Yankees, Trump Locations: New York, Georgia, New York City, Palm Beach , Florida, Manhattan, Florida, California, White Plains , New York, Arizona, Dominion
SpaceX Falcon 9 rocket fails during routine mission
  + stars: | 2024-07-12 | by ( Jackie Wattles | )   time to read: +3 min
The launch vehicle carried 20 satellites for SpaceX’s Starlink network, which already operates via more than 6,000 satellites that have been deployed via dozens of launches. “During tonight’s Falcon 9 launch of Starlink, the second stage engine did not complete its second burn. As a result, the Starlink satellites were deployed into a lower than intended orbit,” according to a statement from SpaceX. Musk added that the Starlink satellites were deployed into orbit, but they may be too near Earth to remain there for long. It’s not clear what this mishap means for the future of SpaceX’s Falcon 9.
Persons: CNN —, Elon Musk, , ” Musk, Jared Isaacman Organizations: CNN, Falcon, NASA, Vandenberg Space Force, SpaceX, International Space, Federal Aviation Administration Locations: California
Counterfeit Ozempic Is on the Rise
  + stars: | 2024-07-12 | by ( Dani Blum | )   time to read: +1 min
Experts have grown increasingly concerned about fake versions of Ozempic and popular weight loss drugs. These copycats can look deceptively real, and may contain dangerous substances or entirely different drugs altogether. In June, the World Health Organization warned that fake batches of Ozempic were found in the United States, the United Kingdom and Brazil. Also in June, Eli Lilly issued a letter expressing concern that counterfeit versions of its own drugs, Mounjaro and Zepbound, were being sold online, through social media and at medical spas. Those who study the counterfeit drug market say these findings are alarming, but not all that surprising.
Persons: Eli Lilly, , George Karavetsos Organizations: World Health Organization, Food, Drug, Criminal Investigations Locations: United States, United Kingdom, Brazil
The Van Epps family left behind two dogs, a stunned and grieving community, and an untold number of priceless memories. The Van Epps family in an undated photo from several years ago. The Van Epps family took a different route. James Ryan Van Epps pitched in a baseball tournament the morning of the plane crash. Courtesy Ansley Van EppsMeanwhile, she and others who loved the Van Epps family took care of other priorities.
Persons: Georgia CNN —, Ansley Van Epps, , Ryan Van Epps, Laura, Harrison, James Ryan, Roger Beggs, Van Epps, Regan Burr, Burr, Ryan’s, Ansley, Ryan, Christine Clements, Christine Marie, “ Harrison, Stefanie Gammage, ” Harrison, Rich Dennis, , ” James Ryan, Brent Bechard, James Ryan’s, They’d, Chase Timms, Roger, James Ryan Van Epps, Erik Rank, Timms, ” Timms, , , Piper, It’s, Walker, Laura wouldn’t, D.J, Jason, who’d, “ James Ryan Organizations: Georgia CNN, Perimeter, Roswell United Methodist Church, Roswell High School, Ridge Christian School, North Atlanta Football Club, Blue Jays, Baseball Hall of Fame, Mirage, Cooperstown, Team Elite National, Elite, Oneonta Municipal, National Transportation Safety Board, NTSB, JFK, Delta Airlines Locations: Milton, Georgia, New York, Catskill, Alpharetta, , Cooperstown, Savannah, Oneonta, Charleston , West Virginia, Atlanta, Lake Cecil, Masonville , New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Barnum also said the bank's debt capital markets jump was due more to refinancing than fundraising for deals and raised concerns about the future of IPOs. 'Down round' fears haunt the IPO marketOn public issuances, which are handled by the bank's equity capital markets business, Barnum said he would have expected stronger numbers in more normal times. "The regulatory overhang is there, remains there," on the advisory side of the business, Barnum said. Barnum suggested that the flow of capital into credit could be slowing because there isn't enough dealmaking to justify continued fundraising.
Persons: , JPMorgan Chase, Wells, Jeremy Barnum, Barnum, it's, Jamie Dimon, Dimon, Tom Williams, Biden, It's, You've Organizations: Service, JPMorgan, Business, Federal Reserve, Inc, Getty, Dow Jones Industrial Locations: Wall, Wells Fargo, Israel, Gaza, East, Russia, Ukraine, Central Europe
U.S. intelligence agencies discovered the plan to go after Papperger earlier this year and informed the German government, the sources said. We have also been clear that Russia's actions will not deter Allies from continuing to support Ukraine." The Office of the Director of National Intelligence, the CIA and the German embassy in Washington all declined to comment. The Intelligence Committee is closely following these threats, which only strengthen our resolve to support Ukraine." And in February, the company signed a memorandum with Ukraine to set up a joint production plant for artillery ammunition.
Persons: Rheinmetall AG Armin Papperger, Ronny HARTMANN, RONNY HARTMANN, Armin Papperger, Papperger, Adrienne Watson, Biden, Watson, Oliver Hoffman, Putin, Jens Stoltenberg, Stoltenberg, Vladimir Putin, Rheinmetall's Papperger Organizations: Rheinmetall AG, Rheinmetall, AFP, Getty Images, U.S, Lynx, CNN, White House National Security, NATO Allies, National Intelligence, CIA, Democratic, House Intelligence, NATO, Intelligence, NBC News, Royal United Services Institute Locations: Unterluess, Germany, Russia, Ukraine, Europe, Moscow, Russian, United States, Washington, cyberattacks, Kyiv, United Kingdom, London
The result was a record monthly trade surplus of just over $99 billion, China’s customs administration reported on Friday. For the Chinese government, the ever-widening trade surplus is good news. Consumers in distant markets are buying many of the goods that Chinese households no longer want. Officials around the world worry that exports from China will displace their own industrial output, forcing factories to close and hurting economic growth. Governments in United States, the European Union, Brazil, India, Turkey and elsewhere have been raising tariffs or imposing new tariffs on manufactured goods from China in recent weeks.
Organizations: European Locations: China, United States, European Union, Brazil, India, Turkey
Read previewPresident Joe Biden's press conference on Thursday was hotly watched by the nation, including one Elon Musk. Musk said in response to a clip where Biden had accidentally referred to Vice President Kamala Harris as "Vice President Trump." Advertisement"I wouldn't have picked Vice President Trump to be vice president, if she's not qualified to be president," Biden said on Thursday. — Elon Musk (@elonmusk) July 12, 2024Musk also poked fun at the muted facial expressions Biden's Cabinet members had when he made the mistake. I'm not saying I'd vote for Trump," Musk told moderator Andrew Ross Sorkin at The New York Times Dealbook Summit in November.
Persons: , Joe Biden's, Elon, couldn't, gaffes, Musk, Biden, Kamala Harris, Trump, Harris, she's, Karine Jean, Pierre, John Kirby, Justin Sink, Tesla, Donald Trump, I'm, Andrew Ross Sorkin, Ron DeSantis, he's, Don Lemon Organizations: Service, Business, Trump, downer, White, National Security, Bloomberg, Democratic Party of, The New York Times Dealbook Summit, Florida Gov, GOP, CNN, BI Locations: Southern, Florida
“FIGHT FOR AND PROTECT SOCIAL SECURITY AND MEDICARE WITH NO CUTS, INCLUDING NO CHANGES TO THE RETIREMENT AGE,” the platform reads. “It’s not a genuine policy prescription to save Social Security,” Jason Fichtner, chief economist at the Bipartisan Policy Center and former acting deputy commissioner of Social Security, said of the party platform. The combined Social Security trust funds – which help support monthly payments to the elderly, survivors and people with disabilities – are expected to be exhausted in 2035, according to its trustees’ annual report. Both candidates have painted themselves into a corner by saying they won’t cut benefits, said Biggs. “Never before have the two parties’ presidential candidates been closer in their positions on Social Security,” he said.
Persons: Donald Trump, , Trump, “ It’s, ” Jason Fichtner, Andrew Biggs, “ Donald Trump’s, , Biggs, Joe Biden Organizations: CNN, Security, Republican National Committee, White House, Republicans, Social, Center, Social Security, American Enterprise Institute, Social Security Administration Locations: November’s
If elected, Donald Trump has promised to maintain the dollar as the world's reserve currency. But his policies risk deteriorating faith in the greenback, according to one think tank. At number 13, the former president pledged to keep the US dollar in place as the world's main reserve currency. But a second Trump term might actually erode greenback's dominant role, wrote Mark Sobel, US chair of the Official Monetary and Financial Institutions Forum. During his first term, Trump threatened to leave NATO and took the US out of key agreements, such as the Iran nuclear deal, Paris Climate Accord and Trans-Pacific Partnership, Sobel wrote.
Persons: Donald Trump, OMFIF, , Donald Trump's, Mark Sobel, Sobel, Trump, Biden Organizations: Service, Republican National, Trump, Monetary, Financial, Treasury, Social Security, NATO, Paris Climate Accord, Pacific Partnership Locations: Iran, Paris
National French Fry is on Friday, July 12, and plenty of popular restaurant chains are offering freebies and deals to honor the holiday. Whether they're crinkle cut or curly, French fries are a favorite across the nation. The average American consumes around 34 pounds of French fries a year, according to the National Oceanic and Atmospheric Administration. The origin of French fries is unclear, despite the name, according to Britannica. President Thomas Jefferson is often credited with introducing the dish to Americans after returning from France with a recipe for "deep-fried potatoes in small cuttings," per the Thomas Jefferson Foundation.
Persons: Fry, Thomas Jefferson, Thomas Organizations: National Oceanic, Atmospheric Administration, Thomas Jefferson Foundation Locations: France, Smashburger
Presidential Medical Secrets
  + stars: | 2024-07-11 | by ( David Leonhardt | Ian Prasad Philbrick | )   time to read: +1 min
Only later — years later, in some cases — does the severity become clear. Grover Cleveland’s aides lied about a surgery in 1893 — performed on a friend’s yacht — to excise a tumor in his mouth. Woodrow Wilson spent his last year and a half as president debilitated by strokes while his wife and doctor secretly carried out some presidential duties. Dwight Eisenhower’s doctor initially described his heart attack in 1955 as “a digestive upset.” John F. Kennedy’s aides lied about his Addison’s disease. President Biden and his aides have become part of this presidential tradition.
Persons: James Madison, Chester Arthur’s, Grover Cleveland’s, , Woodrow Wilson, debilitated, Franklin D, Roosevelt, Dwight Eisenhower’s, ” John F, Kennedy’s, Ronald Reagan’s, Donald Trump, Biden Organizations: The Times Locations: United States
In NATO's most serious denunciation of China to date, the military coalition labeled Beijing a "decisive enabler" of Russia in its ongoing war in Ukraine and expressed concerns over its nuclear arsenal and "systemic challenges" to the coalition's security. "The PRC has become a decisive enabler of Russia's war against Ukraine through its so-called 'no limits' partnership and its large-scale support for Russia's defence industrial base," a NATO communique said Wednesday, on the second day of a Washington summit celebrating the alliance's 75th anniversary. Earlier this week, Beijing started joint military exercises with Russia's close ally Belarus at a training ground mere miles away from the Polish border, the Belarusian Defense Ministry said in a Google-translated Telegram post. On the February 2023 first-year anniversary of the Ukraine war, China — which a month later successfully capitalized on goodwill earned as a trade partner to broker a reconciliation between arch-enemies Iran and Saudi Arabia — pitched a peace framework for the conflict between Moscow and Kyiv. It, like Ukrainian President Volodymyr Zelenskyy's peace plan and Kremlin leader Vladimir Putin's own recent conditions to ignite diplomatic negotiations, has so far failed to gain traction.
Persons: Xi Jinping, Russia's, Saudi Arabia —, Volodymyr Zelenskyy's, Vladimir Putin's Organizations: NATO, West, Belarusian Defense Ministry Locations: China, Beijing, Russia, Ukraine, Washington, Moscow, Belarus, Polish, Iran, Saudi Arabia, Kyiv
“It’s not like Biden’s inner circle didn’t know this,” one Democratic strategist close to the White House said of the extent of the president’s recent decline. “Expect a drip, drip, drip,” said one former Biden White House official. “Blinders are off and everyone is aware,” one source close to the White House told CNN. “He’s declined,” one House Democratic lawmaker who attended the gala told CNN. She wields influence in the White House and campaign, and sits in on some of the president’s political meetings.
Persons: Joe Biden, George Clooney wasn’t, Biden, , , Barack Obama, Obama, Bill Clinton, “ He’s, , , Camp David, “ It’s, Tom Vilsack –, Andrew Bates, “ Joe Biden, ” Bates, Jens Stoltenberg, Keir Starmer, Jacquelyn Martin, Nancy Pelosi, Lester Holt, Ari Emanuel, Ron Klain, ” Emanuel, Klain, Emanuel, Bates, Brett McGurk, Xi Jinping, Kevin Lamarque, Lady Jill Biden, Hunter Biden’s, Emmanuel Macron, Jill Many, Jill Biden, Chris Kleponis, “ She’s, she’s, Jill Biden’s, Valerie Biden Owens, Jill, Valerie won’t, CNN’s Priscilla Alvarez, Kylie Atwood, Betsy Klein, Arlette Saenz, Phil Mattingly Organizations: CNN, Peacock Theater, Radio City Music Hall, Democrat, White, Democratic, Biden, Camp, Los, , Biden White House, NATO, British, AP, MSNBC, NBC, White House, Congressional Hispanic Caucus, Economic Cooperation, Getty, Democratic Party Locations: Los Angeles, Italy, California, New York, Washington, Las Vegas, Aspen , Colorado, United States, Filoli, Asia, Woodside , California, Wilmington , Delaware, Paris, France, Wilmington, Pennsylvania, AFP
But a Republican win yielded a higher return at 15.3%. The S&P 500 fell 9% in 2000 as the tech bubble peaked months before George W. Bush's Republican win. This could increase the chances of a Trump win — at least, that's what the market thinks. The two graphs below from a Goldman Sachs note on July 8 indicate what prediction markets perceive as each candidate's odds of winning following the debate. On that front, consumer discretionary stocks are perceived as riskier under a Trump administration due to the threat of increased tariffs.
Persons: Morgan Stanley, George W, Barack Obama, Biden's, Goldman Sachs, Jan Hatzius, Goldman Organizations: Service, Republican, Democratic, Business, Bush's Republican, Trump, Republican Presidency, Republican House, Senate, Biden
CNN —A fire broke out in the spire of the cathedral in the French city of Rouen on Thursday morning. The blaze erupted at the top of the spire of the gothic Our Lady of the Assumption Cathedral in Rouen, in the northern region of Normandy. The prefecture confirmed on X that the cathedral was evacuated following the outbreak of the flames and that emergency services were working at the scene. “I turn around and I see the cathedral spire, the tarpaulin that was protecting the restoration work, which was burning, big flames, black smoke.”The construction of Rouen cathedral dates from the 12th century and it was built and rebuilt over a period of 800 years. This blaze comes five years after a massive fire broke out in the Notre Dame Cathedral in Paris, devastating large parts of the 850-year-old church.
Persons: Stéphane, Patrick Waeselynck, ’ ”, Claude Monet Organizations: CNN, Assumption, Normandy’s, Reuters, Notre Dame Cathedral Locations: French, Rouen, Normandy, Normandy’s prefecture, Oise, Paris
The Biden administration will soon permanently shut down the star-crossed $230 million temporary pier that the U.S. military built to rush humanitarian aid to Gaza, American officials said on Thursday. “I do anticipate that in relatively short order, we will wind down pier operations,” Jake Sullivan, President Biden’s national security adviser, told reporters. On Wednesday, personnel from the military’s Central Command attempted and failed to reattach the makeshift pier to the beach in Gaza after rough seas forced operators to remove the structure several days ago to avoid damage, the Pentagon said. In a statement, Maj. Gen. Patrick S. Ryder, the Pentagon press secretary, said the latest effort to re-anchor the pier failed because of “technical and weather-related issues,” recurring problems that The New York Times identified last month when it reported that military officials had warned aid organizations that the project could be dismantled as early as July.
Persons: Biden, , ” Jake Sullivan, Patrick S, Ryder Organizations: ., military’s Central Command, Pentagon, New York Times Locations: Gaza
In addition to people who worked directly for Trump, others who participated in Project 2025 were appointed by the former president to independent positions. Several people involved in Project 2025 didn’t serve in the Trump administration but were influential in shaping his first term. Both Trump and Project 2025 have called for eliminating the Department of Education. Vast network of Trump alliesHowever, Trump’s attempts to distance himself from Project 2025 have already encountered credibility challenges. Shortly after Trump’s Truth Social post last week, Democrats noted a recruitment video for Project 2025 features a Trump campaign spokeswoman.
Persons: Donald Trump, , Trump, Mark Meadows, Stephen Miller, Jay Sekulow, Cleta Mitchell, John Eastman, Brendan Carr, Lisa Correnti, Brett Tolman, Charles Kushner, Trump’s, Tolman, Joe Biden, Danielle Alvarez, “ Team Biden, ” Alvarez, Kevin Roberts, Roberts, , Susie Wiles, Chris LaCivita, Paul Dans, Biden, Miller, Russ Vought, Ben Carson, Christopher Miller, John Ratcliffe, Steven Bradbury, Patrick Pizzella –, Mark Morgan, Tom Homan –, , Kathy Nuebel Kovarik, Ken Cuccinelli, Peter Navarro, Michael Pack, Frank Wuco, Barack Obama’s, David Legates, Mari Stull, President’s, ” Roberts Organizations: CNN, Republican, White, Trump, Heritage Foundation, Mandate, Leadership, Federal Communications, United Nations Commission, Republican Party, “ Team, Democratic, Committee, Heritage, American, Foundation, Department of Education, Affordable, National Weather Service, Trump Administration, America, Center, Management, “ Mandate, Leadership ”, Urban, National Intelligence, Labor, Customs, Border Protection, Immigration, of Homeland Security, US Agency for Global Media, NOAA, State Department, ” “ Conservatives Locations: Trump, Washington, Texas , Alabama, Mississippi, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto execs meet with Biden administration over regulatory crackdown concerns: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Kristin Smith, CEO of the Blockchain Association, and Sheila Warren, CEO of the Crypto Council for Innovation, discuss what was accomplished at a meeting with crypto executives and officials with the Biden administration.
Persons: explainers, Kristin Smith, Sheila Warren, Biden Organizations: Biden, CNBC Crypto, CNBC, Blockchain Association, Crypto, Innovation
CNN —For weeks, the White House press corps has been boiling – and not from the Washington, DC, heat. Some feel the White House misled the press before President Joe Biden’s stumbling performance at last month’s CNN presidential debate. “I think this is a credibility crisis writ large for the White House, and certainly as a spokesperson for the White House, this is a credibility crisis for her,” one White House reporter told CNN, speaking on condition of anonymity to discuss the situation. “We are in the midst of a full-blown feeding frenzy,” former CNN White House correspondent and Washington bureau chief Frank Sesno said. Sesno and former White House correspondents and officials told CNN that questions surrounding Biden’s age and performance, along with how the White House is handling the issue, are legitimate and warrant scrutiny.
Persons: Joe Biden’s, Biden, , ” NBC’s Kelly O’Donnell, Karine Jean, Pierre, Ed O’Keefe, Jean, , , ” Jean, Seung Min Kim, Andrew Bates, Biden “, ” Bates, Donald Trump, Barack Obama, George W, Bush, Bates, Bill Clinton, , Frank Sesno, Sesno, Kenneth Walsh Organizations: CNN, White House, House, NATO, White, CBS, Associated Press White, CNN White House, Toxic, U.S . News Locations: Washington, DC, America
Senator Peter Welch of Vermont in the Capitol on Tuesday. He said on Wednesday that it was a hard decision to make but he thought President Biden should end his re-election campaign. Mr. Welch said it had become an existential issue for him to consider the threat of another Trump presidency, and that his determination was that Mr. Biden was not up to beating the former president. “It’s not the elites in Vermont who are talking to me,” Mr. Welch said, brushing back an argument that Mr. Biden has made in recent days as he has defiantly refused to leave the race. “One of the achievements of Joe Biden is that he has unified the Democratic Party — everyone from Bernie Sanders to Joe Manchin,” Mr. Welch said.
Persons: Peter Welch of, Biden, Mr, Welch, Donald J, Trump, Joe Biden, , Vermonters, “ It’s, ” Mr, , who’s, Hubert Humphrey’s, Bernie Sanders, Joe Manchin, ’ it’s Organizations: Peter Welch of Vermont, Wednesday, Democratic, White, Trump, Democratic Party Locations: Peter Welch of Vermont, Washington, Vermont, Chicago,
A Japanese maritime self-defense force destroyer entered Chinese territorial waters recently in spite of warnings by Chinese vessels, Kyodo News reported Thursday. The Suzutsuki temporarily ventured into waters off China's eastern province of Zhejiang on July 4, according to Kyodo. Instead, the vessel "sped up and navigated" into the Chinese waters for about 20 minutes before leaving. Japan is holding the position that the destroyer's entry into Chinese waters was not illegal, Kyodo News reported. China often sends its coast guard and military vessels into Japanese territorial waters near the disputed Senkaku Islands in the East China Sea.
Organizations: Self, Defense Force, Kyodo, China's, Safety Administration, United Nations Convention Locations: Japan, Tanjung Priok, Jakarta, Indonesia, Zhejiang, East, Beijing, China
Some longtime aides and advisers to President Biden have become increasingly convinced that he will have to step aside from the campaign, and in recent days they have been trying to come up with ways to persuade him that he should, according to three people briefed on the matter. They said they have to make the case to the president, who remains convinced of the strength of his campaign, that he cannot win against former President Donald J. Trump. They have to persuade him to believe that another candidate, like Vice President Kamala Harris, could beat Mr. Trump. And they have to assure Mr. Biden that, should he step aside, the process to choose another candidate would be orderly and not devolve into chaos in the Democratic Party. There is no indication that any of the discussions have reached Mr. Biden himself, one of the informed people said.
Persons: Biden, Donald J, Trump, Kamala Harris Organizations: Democratic Party
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