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☆ The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming
▼ + stars: | 2024-07-02 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In France, political turmoil has exacerbated concerns about the country’s debt, sending bond yields, or returns demanded by investors, soaring. “Many (politicians) are not willing to talk about the hard choices that are going to need to be made. Despite growing alarm over the federal government’s debt pile, neither Joe Biden nor Donald Trump, the main 2024 presidential candidates, are promising fiscal discipline ahead of the election. Former Prime Minister Liz Truss triggered a collapse in the pound in 2022 when she tried to force through big tax cuts funded by increased borrowing.

Persons: ” Roger Hallam, Karen Dynan, ” Kenneth Rogoff, ”, don’t, Joe Biden, Donald Trump, Biden, Paul Johnson, William Ruto, Liz Truss, hasn’t, Emmanuel Macron, Dynan, it’s Organizations: London CNN, Monetary Fund, Investors, Vanguard, CNN, US Treasury, Harvard Kennedy School, Harvard University, “, Congressional, CBO, Trump, Fiscal Studies, United Kingdom, Former Locations: United States, France, Germany, Kenya

☆ The Center Collapses in France, Leaving Macron Marooned
▼ + stars: | 2024-07-01 | by ( Roger Cohen | ) www.nytimes.com time to read: +1 min

An era has ended in France. The seven-year domination of national politics by President Emmanuel Macron was laid to rest by his party’s overwhelming defeat in the first round of parliamentary elections on Sunday. But Mr. Macron, risking all by calling the election, did end up guaranteeing that he will be marginalized, with perhaps no more than a third of the seats his party now holds. In 2017, Mr. Macron, then 39, swept to power, eviscerating the center-right Gaullists and the center-left socialists, the pillars of postwar France, in the name of a 21st-century realignment around a pragmatic center. It worked for a while, but increasingly, as Mr. Macron failed to form a credible moderate political party, the result has been one man and a shrinking circle of allies standing against the extremes of right and left.

Persons: Emmanuel Macron, Macron, ”, Édouard Philippe, Macron’s Organizations: National Assembly Locations: France

☆ Far-right parties unlikely to have a 'big influence' on European policy, professor says
▼ + stars: | 2024-07-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFar-right parties unlikely to have a 'big influence' on European policy, professor saysCedomir Nestorovic, professor of geopolitics at Essec Business School, discusses the likely outcome of the French snap elections and the extent of the far right's influence on European politics.

Persons: Cedomir Nestorovic Organizations: Essec Business School

☆ European markets head for higher open as investors digest French election's first round results
▼ + stars: | 2024-07-01 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. LONDON — European stocks are expected to start the new trading week higher as investors in the region digest the results of the first round of France's snap parliamentary election. European markets will be reacting to the results of the first round of the snap parliamentary election in France in which there was a sharp upswing in votes for the anti-immigrant National Rally party. Initial results point to it struggling for an absolute majority in the second round of voting that takes place on July 7, however. Overnight, Asia-Pacific markets started the second half of the year mixed as investors assessed June business activity data from China as well as Japan's business confidence readings.

Persons: Christophe Versini, Jordan Bardella, Germany's DAX, Emmanuel Macron's Organizations: Rassemblement National, LONDON, CAC, IG, National Rally, British Foods Locations: France, Asia, Pacific, China

☆ Far Right’s Surge in France Lays Bare Deep Divisions
▼ + stars: | 2024-07-01 | by ( Catherine Porter | ) www.nytimes.com time to read: +1 min

For many, France feels like a very different place on Monday. The results from the first round of legislative elections, held on Sunday, revealed a country deeply fractured, with a surging far right winning a record number of votes and the near collapse of President Emmanuel Macron’s centrist party. “The far right at power’s door,” the cover of Le Parisien, a daily newspaper, pronounced the morning after the first half of the snap election called by Mr. Macron. “Twelve million of our fellow citizens have voted for a far right party that is clearly racist and anti-Republican,” the left-leaning Libération newspaper declared in an editorial, referring to Marine Le Pen’s National Rally party. If the National Rally takes an absolute majority in the runoff on Sunday, Mr. Macron will be forced to appoint a prime minister from its ranks, who will in turn form a cabinet.

Persons: Emmanuel Macron’s, Le Parisien, Macron, ” Organizations: Republican, Rally Locations: France

☆ Baby boomers living on $1,000 a month in Social Security share their retirement experience: 'I never imagined being in this position.'
▼ + stars: | 2024-07-01 | by ( Allie Kelly | ) www.businessinsider.com time to read: +8 min

Additionally, he's 57 and his Social Security check won't kick in until he's at least 62. Related storiesDacus and Stephen live in Robinson, Illinois, on their combined monthly Social Security income of $2,140. Sometimes, she has to request an advance on their Social Security checks so they can pay for their meals or utilities. AdvertisementBabin said it's especially difficult for older adults to qualify for government assistance even if their Social Security income doesn't cover basic necessities. AdvertisementIn retirement, Hambrick thought she would be "traveling to new places and having fun with my husband."

Persons: —, Hambrick, Social Security Mary Dacus, Stephen, Dacus, we'll, Angela Babin, Babin, Hurricane Ida, doesn't Organizations: Service, Social Security, Business, Northwestern Mutual, Income, Alliance for Lifetime, Survey, Security, Social, Medicare, SNAP, Boomers Locations: Tulsa , Oklahoma, America, Robinson , Illinois, Houma , Louisiana, New Orleans, Florida

☆ Big Tech gets a big win from the Supreme Court
▼ + stars: | 2024-07-01 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +6 min

Read previewThe Supreme Court isn't willing to blow up the internet just yet. The Texas law applied to social media companies with at least 50 million users, while Florida included companies with over 100 million users. As Judge Andrew Oldham wrote in his appeals court decision upholding the Texas law, the Florida law "prohibits all censorship of some speakers," while the Texas law "prohibits some censorship of all speakers." Part of the reason the Supreme Court might have agreed to hear the cases to begin with is because there was a circuit split between the states. But Calvert said on Monday that because the high court's decision is so favorable to the social media companies, that's not likely to happen.

Persons: —, isn't, Paxton, Florida's Moody, NetChoice —, Donald Trump, Andrew Oldham, Clay Calvert, Calvert, Elena Kagan, Kagan, Ken Paxton, Ashley Moody ., that's Organizations: Service, Business, Facebook, Twitter, Capitol, Republicans, Meta, Google, Appeals, Circuit Locations: Texas, Florida

☆ Euro rises after France's first-round vote, yen struggles
▼ + stars: | 2024-07-01 | by ( ) www.cnbc.com time to read: +3 min

The euro rose on Monday after the first round of France's snap election put the far-right in pole position, though by a smaller margin than projected, while a downgrade to Japan's first-quarter growth figures knocked the yen lower. "They (RN) have actually performed a little bit worse than what was expected," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. The yen struggled to gain ground against a broadly weaker dollar, and was last 0.05% lower at 160.93 per dollar. That could lead to a cut to the Bank of Japan's growth forecasts in fresh quarterly projections due later this month and affect the timing of its next interest rate hike, analysts said. Elsewhere in Asia, the Chinese yuan - also a victim of stark interest rate differentials with the U.S. - was last 0.02% higher at 7.2981 per dollar in the offshore market.

Persons: Emmanuel Macron, Carol Kong, Michael Brown, CBA's Organizations: Commonwealth Bank of Australia, Reserve, New Zealand, Bank of, U.S Locations: Japan, Asia

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Persons: Jeans, you'll, hasn't, Giorgio, Bobbi Brown, Trish McEvoy Organizations: Business, Nordstrom, tote, Nordy Locations: Longchamp, concealer

☆ French stocks jump 2.5% as far right takes election lead but seen falling short of majority
▼ + stars: | 2024-07-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Dimitar Dilkoff | Afp | Getty ImagesFrench stocks staged a relief rally early Monday after results from the first round of the nation's snap election raised expectations of a hung parliament. The far-right National Rally party and its allies won 33.1% of the vote, the left-wing NFP alliance was second with 28% and Macron's coalition secured 20%, France's Interior Ministry said Monday. Stock Chart Icon Stock chart icon CAC 40 index. Stock Chart Icon Stock chart icon Euro/U.S. National Rally is hoping it will be the party's 28-year-old leader, Jordan Bardella.

Persons: Jordan Bardella, Gabriel Attal, Manuel Bompard, Dimitar Dilkoff, Sebastian Paris Horvitz, CNBC's, Matthew Ryan, —, Emmanuel Macron, Macron, Horvitz Organizations: Rassemblement National, France's, France, TF1, Afp, Getty, NFP, La Banque Postale Asset Management, Citi, National, U.S ., National Assembly, — Locations: London, France, Europe

☆ France’s far right may be on the brink of power after Macron’s gamble backfired. Here’s what comes next
▼ + stars: | 2024-07-01 | by ( Saskya Vandoorne | Camille Knight | ) edition.cnn.com time to read: +5 min

French President Emmanuel Macron’s centrist alliance was crushed on Sunday after the far-right National Rally (RN) party surged in the first round of the country’s parliamentary elections. It would then become the first far-right party to enter the French government since World War II – although nothing is certain ahead of Sunday’s second round. “Tonight is not a night like any other,” Prime Minister Gabriel Attal said solemnly in an address to the French. The left-wing New Popular Front has announced that it will withdraw all candidates who came in third to help prevent far-right candidates from getting elected. A loss would force Macron to nominate a prime minister from whichever party wins – putting a political opponent in charge of running the government.

Persons: Emmanuel Macron’s, Gabriel Attal, It’s, “, Italy’s Giorgia, Hungary’s Viktor Orban, Vladmir Putin, Le Pen, Vladimir Putin, Macron, Jordan Bardella, Bardella Organizations: Paris CNN, New, Ensemble, ”, European Union, Russian, NATO, National Assembly Locations: Sunday’s, Europe, Ukraine, Russian, France

☆ We're looking at chaos in the French Parliament in the year ahead, analyst says
▼ + stars: | 2024-07-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're looking at chaos in the French Parliament in the year ahead, analyst saysGeorge Dyson, senior analyst at Control Risks, discusses the likely outcome of the French snap election, saying "whatever happens, you're going to have a government that's not aligned with the president" and probably "quite a shaky coalition."

Persons: George Dyson Organizations: Control

☆ French stocks and the euro boosted by election results
▼ + stars: | 2024-07-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —French stocks and the euro rallied Monday after results from the first round of elections suggested the far right will inflict a heavy defeat on President Emmanual Macron but fall short of winning an outright majority in parliament. France’s CAC 40 index, which represents 40 of the biggest companies listed in Paris, rose 2.7% at the open. The euro, which tumbled after Macron called the snap election on June 9, touched the strongest level against the dollar in more than two weeks. Macron’s Ensemble alliance slumped to a dismal third with 20.76%, according to final results published Monday by France’s Interior Ministry. “The immediate reaction is one of a relief rally.”This is a developing story and will be updated.

Persons: Emmanual Macron, Macron, Le, ” Mohit Kumar, Jefferies, “ Organizations: London CNN, Popular Front, France’s Interior Ministry Locations: Paris, Europe

☆ The resume mistake that will land it in the 'no pile,' according to a hiring expert of 30-plus years
▼ + stars: | 2024-07-01 | by ( Jennifer Liu | ) www.cnbc.com time to read: 1 min

It's easy to mass apply to job openings online, but if you don't have a solid resume, you're not making the most of your efforts. One specific detail is cause for immediate rejection, says Stacie Haller, chief career advisor at Resume Builder. "If I see a picture, that's going in the no pile," says Haller, who has over 30 years of staffing and recruiting experience. Recruiters are critical of anything that feels out of date, Haller says, and some details could add bias to the hiring process. Here are other details that should be scrubbed from your resume, according to Haller:

Persons: Stacie Haller, Haller, ageism Locations: Haller

☆ VidCon 2024 showcased the internet's hottest stars you may never have heard of. Here are 7 top takeaways from the annual creator industry conference.
▼ + stars: | 2024-07-01 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +8 min

The names fans gushed over at this year's VidCon creator conference, held last week in Anaheim, California, weren't the influencers you might expect (or maybe I'm just getting old?) Here are seven top takeaways from VidCon 2024, from the reign of Minecraft streamers to the struggles of once-buzzy startups:Creator collective, Krew, meeting fans at VidCon. Fans of these Minecraft creators lined up outside the convention center each morning, often dressed in cosplay related to the creator's videos. Last year, creator startups made a huge splash at VidCon. Related storiesBut this year, traditional media companies replaced creator startups as sponsors.

Persons: —, Jessica Bravura, Bravura, Products Amjad Hanif, Patrick Stevenson, VidCon, Tara, Alpha, TikTok, Tara Yummy, Jake Webber, Johnnie Guilbert, Hank, John Green, Amanda Perelli, Instagram, Meta, Ray, Twitch, Alix Earle, Jake Shane, Braxton Berrios, Dave Benett Organizations: Service, YouTube, Business, Products, White, Leadership Summit, SXSW, Cannes Lions, Merrell Twins, Publish Press, Disney, Hyatt Regency, YouTube Gaming, Hyatt, Facebook, UTA, Riviera, Cannes Locations: Anaheim , California, Bravura, VidCon, Spotify's, Australia

☆ Here’s What to Know About France’s Snap Election
▼ + stars: | 2024-07-01 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

President Emmanuel Macron’s risky decision to call snap legislative elections in France has backfired badly, enabling the far right to dominate the first round of voting held on Sunday. France is in unpredictable territory, with the future of Mr. Macron’s second term at stake. Why did Macron call for snap elections? When Mr. Macron was elected to a second term in 2022, his party failed to win an outright majority. The centrist coalition he formed has since governed with a slim majority, but it has struggled to pass certain bills.

Persons: Emmanuel Macron’s, Macron’s, Jordan Bardella, Macron Organizations: National Assembly Locations: France

☆ Four Takeaways From France’s Snap Election
▼ + stars: | 2024-07-01 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

Voters are being asked to choose their representatives in the 577-seat National Assembly, the country’s lower and more prominent house of Parliament. If a new majority of lawmakers opposed to Mr. Macron is ushered in, he will be forced to appoint a political adversary as prime minister, dramatically shifting France’s domestic policy and muddling its foreign policy. That will be especially so if he is forced to govern alongside Jordan Bardella, the 28-year-old president of the National Rally. If no clear majority emerges, the country could be headed for months of political deadlock or turmoil. Mr. Macron, who has ruled out resigning, cannot call new legislative elections for another year.

Persons: Emmanuel Macron, Macron, Jordan Bardella Organizations: National Assembly, National Locations: France

☆ France’s Snap Elections: What to Watch For
▼ + stars: | 2024-06-30 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

Voters are choosing their 577 representatives in the National Assembly, the country’s lower and more prominent house of Parliament, which will determine the future of Mr. Macron’s second term. A new majority of lawmakers opposed to Mr. Macron would force him to appoint a political opponent as prime minister, radically shifting France’s domestic policy and muddling its foreign policy. Mr. Macron, who has ruled out resigning, cannot call new legislative elections for another year. France’s nationalist, anti-immigrant National Rally party is widely expected to dominate the race. Mr. Macron’s centrist Renaissance party and its allies are expected to lose many seats.

Persons: Emmanuel Macron, Macron’s, Macron Organizations: National Assembly, National, Renaissance Locations: France

☆ French Far Right Scores Big in a First Round of Voting, Polling Suggests
▼ + stars: | 2024-06-30 | by ( Roger Cohen | ) www.nytimes.com time to read: +1 min

The National Rally party won a crushing victory in the first round of voting for the French National Assembly, according to early projections, bringing its long-taboo brand of nationalist and anti-immigrant politics to the threshold of power for the first time. Pollster projections, which are normally reliable and are based on preliminary results, suggested the party would take about 34 percent of the vote, far ahead of President Emmanuel Macron’s centrist Renaissance party and its allies, which got about 21 percent. But the National Rally now looks very likely to be the largest force in the lower house, although not necessarily with an absolute majority. A coalition of left-wing parties, called the New Popular Front and ranging from the moderate socialists to the far-left France Unbowed, won about 29 percent of the vote, according to the projections. Turnout was very high, reflecting the importance accorded by voters to the snap election, at over 65 percent, compared to 47.51 percent in the first round of the last parliamentary election in 2022.

Persons: Emmanuel Macron’s, France Unbowed Organizations: National Rally, French National Assembly, Renaissance Locations: France

☆ France's far-right National Rally seen leading in first round of snap election, exit polls show
▼ + stars: | 2024-06-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

The first round of a snap parliamentary election in France points to a surge in votes for the anti-immigrant National Rally party, with President Emmanuel Macron's centrist alliance coming into third place. Early polling data from national broadcaster France 2 indicates that National Rally (RN) won 34% of the vote while the leftist New Popular Front (NFP) alliance got 28.1%. If no candidate meets that standard, a second round of voting is held, listing the top two candidates and any other candidates who secured more than 12.5% of registered voters' support. The second round of voting on July 7 is the one to watch, according to Antonio Barroso, deputy director of Research at Teneo. As such, National Rally is widely expected to significantly increase the number of seats it has in France's 577-seat parliament, the National Assembly, from the current level of 89.

Persons: Emmanuel Macron, Emmanuel Macron's, Antonio Barroso Organizations: Nexus Institute, National Rally, France, New Popular Front, Research, NFP, National Assembly Locations: The Hague, Netherlands, France, Teneo

☆ French elections: Macron on course to lose big as far right surges in first round
▼ + stars: | 2024-06-30 | by ( Saskya Vandoorne | ) edition.cnn.com time to read: +3 min

CNN —Marine Le Pen’s far-right National Rally (RN) party has taken the lead in the first round of France’s parliamentary elections on Sunday, initial projections showed, as President Emmanuel Macron’s party slumped to third place. The RN election party in the northern town of Henin Beaumont erupted in celebration as the results were announced. “Nothing has been won – and the second round will be decisive,” she said. Sunday’s vote was held three years earlier than necessary and just three weeks after Macron’s party was trounced by the RN at the European Parliament elections. Total voter turnout on Sunday is expected to be 65.5%, the highest in a first round of parliamentary elections since 1997 – according to Ipsos estimates.

Persons: Emmanuel Macron’s, IPSOS, Pen, Jean, Marie Le Pen, Henin Beaumont, Le Pen, ”, Jordan Bardella, –, – France’s, Macron Organizations: CNN, Front, Rally, National Assembly Locations: Henin, France

☆ The far-right has taken another step toward power in France's elections
▼ + stars: | 2024-06-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +1 min

The far-right scored a major win in the first round of parliamentary elections in France. Marine Le Pen's National Rally won roughly 34% of the vote, per projections. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe far-right National Rally has opened up a lead in the first round of critical parliamentary elections in France, with results that could soon spell the end of the centrist government alliance backed by French President Emmanuel Macron.

Persons: Emmanuel Macron, — Organizations: National, Service, French, Popular, Macron's, Business Locations: France

☆ France votes in snap election that could hand power to the far right
▼ + stars: | 2024-06-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Vandalized posters with images of local candidates for the European Parliament election mixed with those from the first round of the 2024 French legislative elections, seen on June 24 2024, in Val d Arry, Calvados. France will hold an early legislative election in two rounds on June 30 and July 7 2024, following President Emmanuel Macrons decision which was triggered by his party's heavy defeat to the far-right National Rally in the 2024 European Parliament election. Nurphoto | Nurphoto | Getty ImagesFrench voters are heading to the polls on Sunday for the first round of voting in a snap parliamentary election that could see the far-right National Rally group become the biggest party in France's National Assembly, polls suggest. Calling the snap election, which will involve two rounds of polling on Sunday and on July 7, Macron said the vote would provide "clarification" and that "France needs a clear majority to act in serenity and harmony." French President Emmanuel Macron waits for guest arrivals for a conference in support of Ukraine with European leaders and government representatives on February 26, 2024 in Paris, France.

Persons: Emmanuel Macrons, Emmanuel Macron, Jordan Bardella, Macron, Le Pen, Jordan Bardella —, Pen, Peter Garnry, Giorgia Meloni, George Dyson, Dyson, Ludovic Marin Organizations: Nurphoto, Getty, National Assembly, National, Analysts, Chesnot, New Popular, National Rally, Le, Palais des Sports, Saxo Bank, Risks, Republicans, Renaissance, Nexus Institute, AFP Locations: Val d, Calvados, France, Ukraine, Paris, Germany, The Hague, Netherlands

☆ French voters head to polls in first round of parliamentary elections
▼ + stars: | 2024-06-29 | by ( Christian Edwards | ) edition.cnn.com time to read: +4 min

Minutes after the humiliating defeat, in an apparent attempt to call voters’ bluff, Macron said he could not ignore the message sent by voters and took the “serious, heavy” decision to call a snap election – France’s first since 1997. The first round of votes eliminates weaker candidates ahead of the second round next Sunday. Typically, only a handful of deputies will be elected this way – but most will go to a second round. Only those who win more than 12.5% of ballots cast by registered voters are allowed to stand in the second round. Attal was reportedly among the last of Macron’s inner circle to learn that a snap election was imminent.

Persons: Emmanuel Macron’s, Macron, – France’s, France’s, –, Jacques Chirac, Lionel Jospin, Jordan Bardella, Gabriel Attal, Manuel Bompard, Dimitar Dilkoff, Le Pen, Jean, Marie Le Pen, Luc Melenchon, Raphael Glucksmann, Gabriel Attal –, Attal Organizations: CNN, Assembly, National Assembly, French, France Unbowed, Front, Macron, Ensemble Locations: France, Europe, Paris, AFP, –

☆ Khamenei protégé, sole moderate neck and neck in Iran presidential race
▼ + stars: | 2024-06-29 | by ( ) www.cnbc.com time to read: +2 min

A citizen is seen in front of the candidates posters for the 14th presidential elections on the streets ahead of the early presidential election in Tehran, Iran on June 27, 2024. A low-key moderate and a protégé of Iran's supreme leader are neck-and-neck in the vote count in snap presidential elections marked by voter apathy over economic hardships and social restrictions. More than 14 million votes have been counted so far from Friday's vote, of which the sole moderate candidate Massoud Pezeshkian had won over 5.9 million votes and his hardline challenger former nuclear negotiator Saeed Jalili over 5.5 million, provisional results by the interior ministry showed. The clerical establishment sought a high turnout to offset a legitimacy crisis fuelled by public discontent over economic hardship and curbs on political and social freedom. The next president is not expected to usher in any major policy shift on Iran's nuclear programme or support for militia groups across the Middle East, since Khamenei calls all the shots on top state matters.

Persons: Massoud Pezeshkian, Saeed Jalili, Ebrahim Raisi, Ali Khamenei, Khamenei Locations: Tehran, Iran, Israel, Gaza, Hezbollah, Lebanon

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