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Over the past few weeks, economic news from the U.K. has heavily focused on the state of British national finances and how they might impact both the British public and the prospects for economic growth. Regardless of how the U.K. fiscal situation stands now, it is clear that the current shortfalls are both years in the making and run the risk of having consequences that could last for years to come. The ultimate dilemma facing Labour now is that the country cannot produce enough revenue to close systemic shortfalls without sustained economic growth, but it also cannot create economic growth without real investment, both from the public and private sectors. In many ways, the current fiscal situation dates back to the financial crisis of 2008 and the fact that the country's economy was unable to snap back readily to close the budget shortfalls that occurred then. Borrowing in the financial year to August stood at £64.1 billion ($85 billion), with the country's debt hitting 100% of GDP.
Persons: Keir Starmer, John Healey, George Robertson, Rachel Reeves, Jeremy Hunt Organizations: British, Defence, Downing, Labour, Conservative Locations: London, England, British, United States, China, Japan
The Noticias Telemundo channel on WhatsApp gained more than 30,000 followers in just the first two weeks and now has more than 820,000 followers, Ms. Planells said. Meta, which owns the app, says about 1.9 billion of its two billion users live outside the United States. WhatsApp Channels exist in a separate tab from the main messaging section of the app. People, businesses or organizations can create a channel to send video, text or links to anyone who follows them. The traffic created by WhatsApp still pales in comparison with what Google and Facebook send to publications.
Persons: Planells, , WhatsApp Organizations: Noticias Telemundo, WhatsApp, Meta, Google, Facebook Locations: United States
Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.
Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan
The cultural shift has spawned a booming business in divorce photography not only for Tan, but also for other photographers hoping to profit. Photos shared on Chinese social media Xiaohongshu show some couples signing their divorce papers, while others pose with their divorce certificate. Happy divorce,” one user wrote alongside a photo of her marriage and divorce certificates side by side. “It is not shameful to be brave enough to divorce,” Tan said. Faces on old wedding photos are spray-painted, to ensure privacy is respected, before being tossed into a crusher along with other tokens of memories.
Persons: Tan, ” Tan, , Peng Xiujian, , Peng, it’s, Liu Wei, Liu, Justin Robertson, ” Liu, he’s, Gary Ng, “ I’ll, Organizations: Hong Kong CNN, China’s National Bureau of Statistics, Companies, Victoria University, CNN Locations: Beijing, Hong Kong, Henan, China, Australia
Beijing/Hong Kong CNN —Married for seven years, Hansen and his wife Momo care for six little ones at their apartment in downtown Beijing. By 2030, the number of pets in urban China alone will almost double the number of young children across the country, according to its projection. The country’s pet ownership rate would be even higher if the number of dogs and cats in rural areas were included. Its birth rate also dipped to 6.39 births per 1,000 people, the lowest rate since the founding of Communist China in 1949. I think it’s just that we love dogs,” Hansen said.
Persons: Hong Kong CNN —, Hansen, Momo, , Beijing hasn’t, they’ve, Justin Robertson, Goldman Sachs, Mao Zedong’s, Goldman, It’s, , Tao, CNN Tao, CNN Stuart Gietel, aren’t, Basten, “ We’re, ” Hansen, Xi Jinping Organizations: Hong Kong CNN, Research, CNN, Publishing, Authorities, Communist, Hong Kong University of Science, Technology Locations: China, Beijing, Hong Kong, Australia, France, India, Japan, East China's Jiangsu, Communist China, Basten
It all left Democrats on the convention floor feeling euphoric and focused, confident that her speech would spur the Democratic base to turn out in November. But outside the arena, and outside the bubble of ride-or-die Democratic voters, some voters, particularly Republicans, said they did not even bother to watch the speech. And among some still on the fence — those who could make a difference in a tight contest — Ms. Harris’s words did not make immediate converts. Bob and Sharon Reed watched Ms. Harris’s speech on their farm in the hills of central Pennsylvania. They came away from Ms. Harris’s speech feeling a little conflicted.
Persons: Kamala Harris, Harris, Donald J, Trump, , Bob, Sharon Reed Organizations: Democratic National Convention, Democratic, Mr Locations: Pennsylvania
Gaza faces ongoing devastation despite peace talks
  + stars: | 2024-08-23 | by ( Nic Robertson | ) edition.cnn.com   time to read: 1 min
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CNN —Mediators in talks for a ceasefire agreement between Hamas and Israel are making a last-ditch effort to revive stalled negotiations as the Middle East braces for an Iranian attack on Israel. President Joe Biden announces a proposed ceasefire between Israel and Hamas in Gaza while delivering remarks in the State Dining Room at the White House on May 31 in Washington, DC. The militant group replaced Haniyeh with Yahya Sinwar, the hardline Hamas leader in Gaza who is one of Israel’s most wanted men. He is not interested in either a ceasefire or the full withdrawal of troops.”Why are Thursday’s talks so important? There have been some indications that Iran may abandon plans to attack Israel if a ceasefire deal is reached.
Persons: Joe Biden, Benjamin Netanyahu, Biden, , who’ve, Netanyahu, Chip Somodevilla, Ismail Haniyeh, Israel hasn’t, Yahya Sinwar, “ Haniyeh, , Israel, Zahra, Omar Al, Thursday’s Organizations: CNN, Israeli, White, Thursday’s, Hamas, Getty, Israel, United Nations Locations: Israel, Qatar, Egypt, United States, Gaza, Rome, Washington ,, Rafah, Tehran, Iran, Palestinian, Shujaiya, Gaza City, AFP
The New York Times editorial board will no longer make endorsements in New York elections, including in races for governor and mayor of New York City, The Times’s Opinion editor said. The change will be immediate: The paper does not plan to take a stance in Senate, congressional or state legislative races in New York this fall, or in next year’s New York City elections, when Mayor Eric Adams is seeking a second term against a growing field of challengers. Kathleen Kingsbury, The Times’s Opinion editor, said in a statement that The Times remained a journalistic institution “rooted in New York City.” She did not give a reason for the shift but said that “Opinion will continue to offer perspective on the races, candidates and issues at stake.”The Times’s editorial board, the part of the Opinion section that makes the endorsements, operates separately from The Times’s newsroom. The board will continue to endorse in presidential elections, as it has since 1860.
Persons: Eric Adams, Kathleen Kingsbury Organizations: New York Times, Times Locations: New York, New York City, year’s, York City
The Justice Department on Thursday charged three current and former executives at Smartmatic, the voting technology company, with taking part in a bribery scheme in the Philippines. In the indictment, which was released publicly on Friday, prosecutors said that from 2015 to 2018, Smartmatic’s president and co-founder, Roger Piñate, and other executives funneled “at least $1 million in bribes” to Juan Andres Bautista, the former chairman of the Philippine elections commission, so that their company could obtain and keep a contract providing voting machines and election services for the 2016 Philippine elections. A Smartmatic spokesman said in a statement that two of the people charged remain at the company, including Mr. Piñate, and each has been placed on a leave of absence, though he noted that “our accused employees remain innocent until proven guilty.”“No voter fraud has been alleged, and Smartmatic is not indicted,” the spokesman said. “Still, voters worldwide must be assured that the elections they participate in are conducted with the utmost integrity and transparency.”
Persons: Roger Piñate, , Juan Andres Bautista, Piñate, Organizations: Department, Smartmatic Locations: Philippines, Philippine
Axios Laying Off 10% of Staff
  + stars: | 2024-08-06 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com   time to read: +1 min
Axios was started in 2017 by Mr. VandeHei and his business partners Mike Allen and Roy Schwartz, all of whom previously worked at Politico, the political news site. Mr. VandeHei said in the email to staff on Tuesday that moving forward, Axios would increase its focus on U.S. news coverage and more rapidly expand its city-specific newsletters to new locations. He also said the company would continue building its paid subscription product, Axios Pro, which is aimed at business professionals. Mr. VandeHei told The Times earlier this year that the rise of A.I. Mr. VandeHei said at the time that Axios would increase the number of live events it holds as well as build paid memberships around some of its star journalists.
Persons: Axios, VandeHei, Mike Allen, Roy Schwartz Organizations: Mr, Politico, Cox Enterprises, Times
Bloomberg News’s editor in chief said on Monday that the publication had disciplined multiple journalists involved in breaking an embargo last week tied to the major prisoner swap, in what he said was “a clear violation of the editorial standards.”John Micklethwait, the newsroom’s top editor, said in an email to its staff that Bloomberg had disciplined the people after an investigation by the organization’s standards editor into how the embargo, which was set by the Biden administration, was broken. He said Bloomberg would “be reviewing our processes to ensure that failures like this don’t happen again.”The email did not specify what the disciplinary actions were or who they involved. Bloomberg published an article at 7:41 a.m. on Thursday detailing the complicated prisoner exchange that resulted in the release of Evan Gershkovich, a reporter for the The Wall Street Journal, and many others. Jennifer Jacobs, a senior White House reporter who had the first byline on the article, has left the company, according to two people with knowledge of the matter. An editor involved in the story was demoted, according to two other people.
Persons: John Micklethwait, Biden, , Evan Gershkovich, Jennifer Jacobs Organizations: Bloomberg, Street Journal, White House
A small fire in a wheelie bin was also visible while windows in the hotel were smashed. Police in the north of England town of Rotherham struggled to hold back a mob of far-right rioters who were seeking to break into a hotel housing asylum-seekers. U.K. Prime Minister Keir Starmer has condemned the attack on a hotel housing asylum seekers, describing it as "far-right thuggery" as violence broke out in several towns and cities across the country. Police in the north of England town of Rotherham struggled to hold back a mob of far-right rioters who were seeking to break into a hotel housing asylum-seekers. Britain's new prime minister, Keir Starmer, has blamed the violence on "far-right hatred" and vowed to end the mayhem.
Persons: Keir Starmer, John Healey, George Robertson, Tiffany Lynch, Wales, Andrew Menary, Axel Rudakubana, Rudakubana, Stephen Yaxley, Lennon, Tommy Robinson, Elon Musk, Nigel Farage, , , Diana Johnson Organizations: British, Defence, Downing, Police, . Police, Police Federation of England, BBC, English Defense League, Merseyside Police, Twitter, Elon, Reform U.K Locations: London, England, Rotherham, Middlesborough, Belfast, Northern Ireland, Liverpool, Bristol, Southport, Wales, Rwandan, France
Read previewWhen 2020 hit with all of its uncertainties, I knew there was no better time to start van life. I wanted to hit the road as soon as possible while keeping costs low, so I went with a smaller van. Next time, I'm investing in a van with 4-wheel driveI'm always hesitant to off-road in my van. AdvertisementSpreading out the build would've given me more rest days — I took exactly two days off — and peace of mind. Now, I see a van build as an ongoing expense, like rent, that I'm always saving for and investing in rather than a one-time purchase.
Persons: , I've, I'd, Abigail Robertson, I'm Organizations: Service, Ford Transit Connect, Business, Mercedes Sprinter, Ford Transit Locations: Ohio, California
In late 2020, a news start-up began pitching investors on a bold vision: By creating content native to social media for Gen Z audiences — and later acquiring brands like The Daily Mail — the company would begin to create “the Amazon of News” within five years. “We must create a movement,” read a pitch deck for the company viewed by The New York Times. “A movement hungry for the facts and thirsty for the truth.”That company, which eventually became known as The News Movement, was co-founded by Will Lewis, a media executive who was named chief executive of The Washington Post last year. In early June, Mr. Lewis announced a new division in the newsroom that would focus in part on “social media journalism” to help turn around its ailing finances. The announcement, made alongside the news that the paper’s executive editor was leaving, ultimately led to internal strife and questions about Mr. Lewis’s leadership and ethics.
Persons: , , Will Lewis, Lewis Organizations: Daily Mail, The New York Times, News, The Washington Post
For more than a year, the top of The Wall Street Journal’s website has featured prominent coverage of the imprisonment of Evan Gershkovich, one of the news organization’s reporters. His image and the words #IStandWithEvan appear on a large screen in The Journal’s New York newsroom. The maneuvering behind the international prisoner swap on Thursday, involving Mr. Gershkovich and around two dozen others, was far outside the bounds of what The Wall Street Journal could do to help him. But since Russia imprisoned Mr. Gershkovich in March 2023, The Journal has pushed to keep his detainment top of mind. The organization has operated letter-writing campaigns, launched social media blitzes and staged a 24-hour read-a-thon of Mr. Gershkovich’s reporting.
Persons: Evan Gershkovich, Evan ”, Evan ” pins, Gershkovich, Mr Organizations: Journal’s New, Brighton Beach Locations: Journal’s, Journal’s New York, Russia, New York, Brooklyn
In addition to Mr. Gershkovich, the prisoners freed by Russia included Paul Whelan, a former U.S. Marine arrested in 2018, and the Russian dissident Ilya Yashin, the official said. The prisoners freed by the West included Vadim Krasikov, a convicted Russian assassin, the Turkish official said. The deal seemed sure to prompt jubilation among Western nations that had condemned the charges against Mr. Gershkovich and others as baseless and politically motivated. And it represented a political leap for Chancellor Olaf Scholz of Germany, whose government agreed to release Mr. Krasikov as part of the deal. Mr. Putin has referred to Mr. Krasikov as a patriot for his killing of a Chechen former separatist fighter in Berlin in 2019.
Persons: Anton TroianovskiMark Mazzetti, Evan Gershkovich, Gershkovich, Paul Whelan, Ilya Yashin, Vadim Krasikov, Biden, Vladimir V, Putin, Chancellor Olaf Scholz of Germany, Krasikov, Ivan Nechepurenko Organizations: Street Journal, U.S . Marine, West, Turkish Locations: Turkey, Russia, Russian, Ankara, U.S, Chechen, Berlin
Early Thursday, Ella Milman and Mikhail Gershkovich sat to eat at the Mayflower Hotel in downtown Washington before a day of celebration — a day they had been waiting to arrive for 16 months. They were joined by their daughter, Danielle, her husband, and executives from Dow Jones and The Wall Street Journal. “There were jokes and anecdotes, but there was a palpable emotional load at that table,” Almar Latour, the chief executive of Dow Jones, which publishes The Journal, said in an interview. “We’ve all worked toward this moment, and the family of course has been an inspiration throughout.”Mr. Gershkovich, 32, was arrested in March 2023 in Russia while on a reporting trip and imprisoned on charges of espionage. Mr. Gershkovich, The Journal and the U.S. government vehemently denied those accusations.
Persons: Ella Milman, Mikhail Gershkovich, Danielle, Dow Jones, Evan Gershkovich, ” Almar Latour, , Mr, Gershkovich Organizations: Mayflower, Dow, Street Journal, White, The, U.S Locations: Washington, Russia
It took only a week for the Park fire north of Sacramento to grow into the fifth-largest in California history, signaling the potential for a destructive wildfire season across much of the Western United States. Almost 50 other large or notable fires were burning throughout the region on Wednesday, according to a New York Times tracker. Although this year doesn’t yet compare to 2020, the most destructive wildfire season of the last two decades, the sheer number of fires currently burning in Western states — both big and small — has threatened to overwhelm firefighting resources at a rate that worries experts so early in the season. “Normally we’re ramping up in July to get to that peak in August, early September,” said Alex Robertson, director of fire and aviation management for the U.S. Forest Service. But this year, he said, “we’re going into August already at our full tilt.”At least one person was killed this week by a wildfire burning near Denver, and a historic mining town was leveled near Bakersfield, Calif. More than half a million acres of the Western United States have burned in the past week, according to the Times wildfire tracker.
Persons: , , Alex Robertson, “ we’re Organizations: Western, New York Times, U.S . Forest Service Locations: Sacramento, California, Western United States, Denver, Bakersfield , Calif
AdvertisementSeveral cities have been trying to take advantage of the new policy, including Dubai, Milan, and more. A recently relocated hedge fund manager in Milan is planning to visit London or New York six or seven times a year going forward. "The best type of knowledge comes from people, from frequent interaction with people," said a Milan-based hedge fund manager. Several people — based in spots such as Dubai, Milan, and Zurich — mentioned that people early in their careers should still prioritize working in the biggest cities though. Moving to the Middle East just to interact with fellow UK ex-pats doesn't add much diversification to a portfolio manager's life.
Persons: , Julian Robertson, Muyshondt, Elena Partners, Steve Cohen's Point72, Sebastian Dickgiesser, Girish Chouhan, aren't, COVID, I'm, Alfonso Peccatiello, he's, Darren Wolf, abrdn, It's, Wolf, Zoom Organizations: Service, Tyrian Investments, Business, Labour, Henley & Partners, United Arab, Eisler Capital, Capstone Investment Advisors, Getty, London, Investors, , pats Locations: New York, Cascais, Portugal, Lisbon, London, Florida, Hong Kong, Dubai, Milan, China, United Arab Emirates, Italy, Point72, Girish Chouhan Dubai, Abu Dhabi, India, East, Europe, Madrid, Zurich, Amsterdam, Netherlands, Brera, , Milan's Brera, UAE
A scheduled appearance by former President Donald J. Trump at a conference for Black journalists in Chicago has generated fierce debate. The National Association of Black Journalists, which is hosting the conference, announced on Monday that Mr. Trump would take part in a question-and-answer session with political reporters on Wednesday. The conference’s description says the session will “concentrate on the most pressing issues facing the Black community.” Harris Faulkner, a Fox News anchor; Kadia Goba, a politics reporter at Semafor; and Rachel Scott, an ABC News correspondent, will moderate the session. The event is expected to be live-streamed on the organization’s YouTube and Facebook pages. After the announcement of the event with Mr. Trump, a number of well-known Black journalists harshly criticized the group for arranging it, arguing that the organization was giving a platform to someone who had openly denigrated a number of reporters.
Persons: Donald J, Trump, ” Harris Faulkner, Kadia, Rachel Scott Organizations: National Association of Black Journalists, Fox News, ABC News, YouTube Locations: Chicago
For decades, many American cities had at least one thriving alternative-weekly newspaper chronicling the local art and music scene and reporting on the community. Many of those publications withered in recent years, but two of the country’s best known alt-weeklies, The Stranger in Seattle and The Portland Mercury, now have plans for expansion. Mr. Walkinshaw declined to disclose the financial details of the purchase, but he said that he was the majority shareholder. Index will keep a 20 percent stake in the company. A group of about 20 individual investors helped finance the deal, Mr. Walkinshaw said.
Persons: Brady Walkinshaw, Walkinshaw Organizations: The Portland Mercury, Democratic, Portland Mercury, Index Newspapers Locations: Seattle, Washington State
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