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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
Progressive groups have trained their criticisms on Mr. Shapiro and Mr. Kelly, who they accuse of being too conservative on key issues. The debate grew heated during a discussion about whether using the phrase “Genocide Josh” to describe Mr. Shapiro, who is an observant Jew, was antisemitic. One of his advisers called the Harris campaign to object to Mr. Shapiro, a development that was first reported by Politico. Manuel Bonder, a spokesman for Mr. Shapiro, declined to comment on the vice-presidential selection process. Mr. Walz and Mr. Beshear are set to appear at dueling, simultaneous fund-raisers to benefit Ms. Harris on Monday evening.
Persons: Kamala Harris’s, Josh Shapiro, — Mr, Shapiro, Mark Kelly of Arizona, Tim Walz, Minnesota —, Harris, Kevin Munoz, Kelly, Shawn Fain, Mark Kelly of, Harris’s, Kenny Holston, Josh ”, Walz, Billy Wimsatt, , “ Tim Walz, John Fetterman of, Manuel Bonder, Kriston Jae Bethel, Joe Scarborough, Doran Schrantz, Wimsatt, Caroline Yang, Pete Buttigieg, ” Mr, , Kelly’s, Jacob Peters, Andy Beshear, Beshear, Rachel Mummey, . Walz, Christina Morales, Corinne Boyer Organizations: Gov, Pennsylvania, United Automobile Workers, CBS, New York Times, Democratic, Democracy Alliance, Voter, Muslim, The New York Times, Politico, Minnesota PAC, Navy, NASA, Iowa Democratic Party, Mr Locations: Washington, Philadelphia, Mark Kelly of Arizona, Mexico, Gaza, John Fetterman of Pennsylvania, Pennsylvania, Minnesota, New Hampshire, Silicon Valley, Kentucky, Frankfort, Ky, Minneapolis, Chicago, Jenkintown, Pa
Read previewWhile some Silicon Valley investors and startup leaders are going red hoping for a more "tech-friendly" White House, Michael Moritz, a storied Sequoia Capital investor, believes that does not reflect the Valley overall. "Fortunately, at least in Silicon Valley, Trump will not prevail," Moritz wrote in a Financial Times opinion piece, which was also posted on LinkedIn. Like the rest of the nation, Silicon Valley is deeply divided over whom to support in the upcoming presidential race. In his piece, Moritz chided Trump supporters in Silicon Valley. Moritz added that Trump had historically not performed well among Silicon Valley voters.
Persons: , Michael Moritz, Trump, Moritz, Kamala Harris, Donald Trump, Doug Leone, Shaun Maguire, Roelof Botha, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Fund's Peter Thiel, David Sacks, Chamath, Vance, Sen, JD Vance, Palmer Luckey, Elon Musk, VCs, Kamala, Harris, Vinod Khosla, Reid Hoffman, Mark Cuban, Ron Conway Organizations: Service, Sequoia Capital, LinkedIn, Business, Google, PayPal, Democratic, Republican, Tech, Trump, VR, Bloomberg, PAC, Street Journal, Netflix, Harris, Politico Locations: Silicon Valley, Sequoia, Park City , Utah, Silicon, Palo Alto , California, Newport Beach , California, Washington ,, Francisco, San Jose
Enter Vance, who wants to halt any sort of sustained momentum for Harris as she stumps with her eventual vice presidential pick. The senator is seemingly aiming to get ahead of the news cycle to blunt a potential Democratic vice presidential honeymoon period. Harris will use her tour to blitz battleground states and introduce her running mate to voters. Megan Varner/Getty ImagesSo Vance's plan to lay into Harris and her running mate will be a tricky balancing act. Some voters will applaud Vance's shadow tour of Harris' vice presidential rollout, while others will view it as a stunt.
Persons: , Kamala Harris, Ohio Sen, JD Vance, Harris, Vance, Joe Biden's, he'll, Donald Trump, Biden, souring, Trump, MAGA, haven't, Megan Varner, doesn't, Josh Shapiro, Tim Walz, she'll, Shapiro, Walz — Organizations: Service, Democratic, GOP, Business, Politico, Biden, Republican, Republican National Convention, Democratic Party, CNN, Minnesota Gov, Republicans, Medicare Locations: Philadelphia, Detroit, Eau Claire , Wisconsin, Raleigh , North Carolina, Ukraine, Ohio, Francisco Bay
According to public announcements, the firm has made four acquisition deals so far in 2024, exactly even with Nvidia's 2020 deal total. Nvidia declined to discuss its acquisition strategy for this report, citing a quiet period before it announces earnings on August 28. In May, Nvidia agreed to acquire Deci AI, another Israeli startup that makes tools for developers to build AI models, for $300 million. In July ​Nvidia competitor AMD announced an agreement to acquire Silo AI, a Finnish AI startup, for $655 million. And this quiet trickle of deals in various forms is unlikely to stop since the market for AI talent is so tight.
Persons: , Nader Khalil, Colette Kress, Kress, it's, OpenAI, Paul Baier, GAI, Baier, Umesh Pavdal, Thomvest Organizations: Service, Nvidia, Microsoft, Department of Justice, Federal Trade Commission, Business, ARM, Softbank, Politico, Shoreline, LinkedIn, Citi Global, DOJ, FTC, Amazon, AMD, Silo Locations: Israeli, California, San Francisco, Finnish
It is just my luck that the week I was on vacation also happened to be one of the most consequential weeks in recent American political history. I have a lot of thoughts about all this, but for now I want to talk about one of the minor characters in this saga — JD Vance, the Republican nominee for vice president. A few days after he received the nomination, Politico published a story on his deep affinity for “The Lord of the Rings,” the series of fantasy novels by J.R.R. Tolkien that were adapted, about 20 years ago, into blockbuster fantasy epics. Vance has, according to Politico, “pointed to Tolkien’s high fantasy epics as a window into understanding his worldview.”
Persons: Donald Trump’s, Biden’s, Kamala Harris, JD Vance, Vance, Trump, J.R.R, Tolkien, Organizations: Republican National Convention, Republican, Politico
Josh Shapiro of Pennsylvania, considered a frontrunner for the role of Harris' running mate, abruptly canceled a three-event fundraising event in the Hamptons, The New York Times reported. However, Beshear posted on X on Thursday that his father, former Kentucky Gov. pic.twitter.com/GMl611jC5h — Adam Wren (@adamwren) August 1, 2024The search for Harris' running mate is in its final days. The Harris campaign told Politico that Harris would stage her first rally with her running mate in Philadelphia on Tuesday. According to Politico, Harris is preparing for face-to-face interviews with her shortlist, marking the last stage of an expedited vetting process.
Persons: , Kamala Harris, veepstakes, Josh Shapiro, Harris, Manuel Bonder, Shapiro, Shapiro's, Andy Beshear, timetabled, Jacqueline Coleman, Beshear's, Beshear, Steve Beshear, Pete Buttigieg, hasn't, Adam Wren, Pete Buttigieg truncating, GMl611jC5h, Gretchen Whitmer, Tim Walz, JB Pritzker, Arizona Sen, Mark Kelly Organizations: Service, Pennsylvania, Hamptons, The New York Times, Business, Times, Gov, Kentucky Gov, US Department of Transport, Politico, Reuters, NBC, Minnesota Gov, Illinois Gov Locations: Kentucky, Kokomo , Indiana, Indiana, Philadelphia, Illinois, Arizona
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewEven Nvidia, which appears untouchable in 2024, may not be immune to the government's sweeping crackdown on the Magnificent Seven. They have received complaints from competitors that Nvidia abused its dominance and pressured cloud providers to buy multiple Nvidia products, The Information reported on Thursday. Nvidia did not immediately respond to Business Insider's request for comment sent outside regular business hours. The DOJ's focus on Nvidia follows a series of other recent government investigations into Big Tech.
Persons: , prem, Biden Organizations: Service, Department, Politico, Nvidia, Business, Reuters, Big Tech, FTC, DOJ, Apple, Amazon, Activision Blizzard
It's Sen. Mark Kelly of Arizona. Kelly is the one and only member of the United States Senate who has made it onto Vice President Kamala Harris's shortlist of potential running mates. "Mark Kelly, potential VP pick, plans to be in Arizona next week," reads a POLITICO headline from the last few days. "He's just not a person who gets overly excited in one direction or the other. Advertisement"This isn't about me," Kelly said as the doors closed on him, repeating his stock response to the questions about his sudden vice presidential candidacy.
Persons: who's, Sen, Joe Manchin, Joe Biden's, George Santos, It's Sen, Mark Kelly of Arizona, Kelly, Kamala Harris's, Mark Kelly, Harris, he's, Tesla, JD Vance, Donald Trump's, hasn't, I've, Brian Schatz, He's, I'm, Kelly's, Kent Nishimura, what's, Blake Masters —, Vance, Gabby Giffords, Tim Kaine, Hillary Clinton's, Allison Bailey /, Tim Walz, Andy Beshear, Bryan Metzger, didn't, Donald Trump Organizations: Service, US Senate, Capitol, Business, United States Senate, Arizona, Capitol Hill, Hawaii, Arizona's, Electoral, Merchant Marine Academy grad, Democratic, Getty, Minnesota Gov, Republicans, Kentucky, Labor Locations: Arizona, Capitol Hill, Virginia, Minnesota
Officials later confirmed to the Associated Press that some F-16s were indeed in Ukraine. AdvertisementThis means Ukraine may not use its F-16s for the frontline offensives it would prefer, according to military experts and Ukraine's top general. Peter Layton, a fellow at the Griffith Asia Institute who served in Australia's air force, said Ukraine would have to be cautious. He said its small number of aircraft and few pilots would mean Ukraine has to prioritize avoiding losses, so it can fly the F-16s as long as possible. Ukraine also faces challenges when it comes to logistics around the F-16s.
Persons: , Netherlands —, Peter Layton, Justin Bronk, Gen, Oleksandr Syrskyi, Marina Miron, Volodymyr Zelenskyy Organizations: Service, Bloomberg, Associated Press, NATO, Business, Times, Griffith Asia Institute, Russian, Royal United Services Institute, Guardian, War Studies Department, King's College London, Department of Defense, Politico, Washington Post, Reagan Locations: Ukraine, — Belgium, Denmark, Norway, Netherlands, London, Russia, Col, Ukrainian
Tolkien and “The Lord of the Rings.”These days, however, Tolkien isn’t just relevant to nerd world. Critical factions of the new right at home and the far right in Europe have latched on to Tolkien’s work. By “new right” I mean the post-Reagan right, a movement that embraces state power as a means of fighting and winning the culture war. But they’re getting Tolkien wrong, and the way in which they are getting Tolkien wrong matters for all of us. Last month, Politico’s Adam Wren wrote an extended analysis of the way that the “Lord of the Rings” trilogy shaped JD Vance.
Persons: Tolkien, Reagan, they’re, Politico’s Adam Wren, Vance, , ” Vance, Peter Thiel, Nancy Organizations: “ Star, Anduril Industries Locations: Europe
Donald Trump participates in a question and answer session at the National Association of Black Journalists (NABJ) convention at the Hilton Hotel in Chicago, Illinois on July 31. Getty ImagesFormer President Donald Trump, the Republican presidential nominee, drew gasps on Wednesday when he said at the National Association of Black Journalists convention that Vice President Kamala Harris, the presumptive Democratic nominee, had suddenly adopted a Black identity. Trump claimed: “I’ve known her a long time, indirectly, not directly very much, and she was always of Indian heritage, and she was only promoting Indian heritage. Harris graduated in 1986 from Howard University, a historically Black institution where she was a member of a historically Black sorority. After that, she was elected president of the association of Black law students in her second year at the University of California, Hastings College of the Law, according to her 2019 memoir.
Persons: Donald Trump, Kamala Harris, Harris ’, Trump, , Harris, , ” Trump’s, , Organizations: National Association of Black Journalists, Hilton Hotel, Getty, Republican, Democratic, Howard University, University of California, Hastings College of the, Politico, Hastings Law, San Locations: Chicago , Illinois, Jamaica, India, Indian, San Francisco
I didn’t know she was Black until a number of years ago when she happened to turn Black, and now she wants to be known as Black. Harris graduated in 1986 from Howard University, a historically Black institution where she was a member of a historically Black sorority. - Falsely claimed he was “protected” under the Presidential Records Act for taking official documents after his presidency. - Falsely claimed that “everybody,” including Democrats, wanted Roe v. Wade overturned and the issue of abortion policy returned to individual states. - Falsely claimed that Haris “didn’t pass” the bar exam.
Persons: Donald Trump, Kamala Harris, Harris ’, Trump, , Harris, , ” Trump’s, , ” Harris, , ‘ Mazel, Joe Biden’s, Biden, Roe, Wade, Haris “ didn’t, Four Trump, Brian Sicknick, Sicknick, ” CNN’s Andrew Kaczynski, Em Steck, Julie In Organizations: Washington CNN, Republican, National Association of Black Journalists, Democratic, Howard University, University of California, Hastings College of the, Politico, Hastings Law, San, South, Black, United States Senate, Trump, Central, Biden, Presidential, Capitol, Capitol Police, Washington Post Locations: Jamaica, India, Indian, San Francisco, American, California, Asian, Jamaican
Read previewThe tech industry has grand plans for an AI utopia — and as models become ever more advanced, some tech leaders are calling for a form of universal basic income. But as AI companies race toward artificial general intelligence, the conversion is getting more urgent. Making AI work for everyoneMany of the people developing AI think a basic income system could help mitigate the tech's negative impact on workers. Recently, the OpenAI CEO also floated the idea of what he calls "universal basic compute." AdvertisementAnna Yelizarova, a project lead at the Future of Life Institute, said tech companies have discussed sharing access to the AI models themselves.
Persons: , UBI, Jack Dorsey, Mark Zuckerberg, Elon Musk, Matthew Johnson, Geoffrey Hinton, Sam Altman, Jason Redmond, Johnson, they're, Scott Santens, Santens, computerization, there's, It's, Altman, Axel Springer, LLMs Altman, Anna Yelizarova Organizations: Service, Tesla, Business, Northumbria University, BBC Newsnight, Getty, Politico, Life Institute Locations: Paris, AFP
Read previewThe tech industry has grand plans for an AI utopia — and as models become ever more advanced, some tech leaders are calling for a form of universal basic income. But as AI companies race toward artificial general intelligence, the conversion is getting more urgent. Making AI work for everyoneMany of the people developing AI think a basic income system could help mitigate the tech's negative impact on workers. AdvertisementFor prominent tech figures, there's also a PR dimension to supporting the basic income concept, he said. AdvertisementAnna Yelizarova, a project lead at the Future of Life Institute, said tech companies have discussed sharing access to the AI models themselves.
Persons: , UBI, Jack Dorsey, Mark Zuckerberg, Elon Musk, Matthew Johnson, Geoffrey Hinton, Sam Altman, Jason Redmond, Johnson, they're, Scott Santens, Santens, computerization, there's, It's, Altman, Axel Springer, LLMs Altman, Anna Yelizarova Organizations: Service, Tesla, Business, Northumbria University, BBC Newsnight, Getty, Politico, Life Institute Locations: Paris, AFP
one memo from the Harris campaign read. The Harris campaign has already sent out fundraising emails with the subject line, "What happened to: 'Any time, any place?'" Campaign experts who spoke with BI said that the attacks so far appear to be working but also recognized that voters are still seeing the early formations of Harris' campaign. AdvertisementBloomberg reported that Harris' campaign has narrowed her list to three names, citing sources familiar with the matter, to Arizona Sen. Mark Kelly, Pennsylvania Gov. A Harris campaign spokesperson did not immediately return a request for comment from Business Insider.
Persons: , Joe Biden, Kamala Harris, haven't, Evan Siegfried, Harris, Biden, Seigfried, Trump, Blunt, JD Vance, Trump's, rebutting Vance, Christian Grose, Grose, Siegfried, goading Trump, Costas Panagopoulos, Panagopoulos, Tim Hogan, Arizona Sen, Mark Kelly, Josh Shapiro, Tim Walz Organizations: Service, Democratic, Biden, Business, Republican, Trump, University of Southern, GOP, Northeastern University, Politico, BI, Bloomberg, Minnesota Gov Locations: Ohio, University of Southern California, Arizona, Pennsylvania
U.S. President Joe Biden meets with Israeli Prime Minister Benjamin Netanyahu (not pictured) in the Oval Office at the White House in Washington, U.S., July 25, 2024. U.S. President Joe Biden will announce plans to reform the Supreme Court on Monday, Politico reported citing two people familiar with the matter, adding he was likely to back term limits for justices and an enforceable code of ethics. Biden said earlier this week during an Oval Office address that he would call for reform of the court. He is also expected to seek a constitutional amendment to limit immunity for presidents and some other officeholders, Politico reported, in the aftermath of a July Supreme Court ruling that presidents have broad immunity from prosecution. Biden will make the announcement in Texas on Monday and the specific proposals could change, the report added.
Persons: Joe Biden, Benjamin Netanyahu, Biden Organizations: Israeli, White, Politico Locations: Washington , U.S, Texas
New York CNN —Donald Trump didn’t need to do much to win over crypto investors, who are used to being treated like the problem children of the financial world. They’re tinkering in the shadows, doing a thing most normies either don’t understand and/or believe is a scam. “Bitcoiners are looking for political validation after years in the wilderness,” said Eric Soufer, a political adviser to major crypto companies. But running against Vice President Kamala Harris, now the presumptive Democratic nominee, may change the calculus. It’s not clear why Trump has shown a sudden adoration for digital assets when he pooh-poohed it during his presidency.
Persons: CNN Business ’, Donald Trump, , , Eric Soufer, ” Trump, Trump, Marc Andreessen, Joe Biden, Gary Gensler, Kamala Harris, Biden, Harris, Harris ’, Mark Cuban, Cuban, didn’t, Brian Hughes, “ Trump, unAmerican Crypto, ” Harris, Crypto, Molly White, It’s, , Steve Contorno Organizations: CNN Business, New York CNN, Republican, Big Tech, Securities, Exchange Commission, Democratic, Politico, Trump, CNN, Democrats, Republican Party, GOP, Republicans, Fox Business Locations: New York, Nashville
The US President endorsed his current vice president, and many prominent Democrats, including Barack Obama, have followed his lead. Money has been pouring into Harris's campaign, and the vice president has already begun campaigning against former president Donald Trump. With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden. Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first "crypto president."
Persons: , Kamala Harris, Harris, Joe Biden's, Barack Obama, Donald Trump, Sheryl Sandberg, Trump, JD Vance, David Sacks, Peter Thiel, Vance, Thiel, Elon Musk, Aaron Levie, techies, Sean Parker, Tony West, Kamala, she's, Ron Conway, Chiente Hsu, Biden, She's, Hsu, Reed Hastings, Levie, hasn't, Nigel Green Organizations: Service, Democratic, Business, PAC, Politico, VC, Biden, Facebook, Big Tech, Biden Administration, Democratic Party, deVere Group Locations: Silicon, California, Oakland, Bay, Harris, FTX
Opinion | The Kamala Harris Report Card
  + stars: | 2024-07-25 | by ( David Brooks | ) www.nytimes.com   time to read: +1 min
At the beginning of 2019 I wrote a column enthusiastically arguing that Kamala Harris was the Democratic Party’s strongest candidate to take on Donald Trump. My core argument was pretty simple: If Democrats hoped to defeat him, they needed the toughest gladiator they could get, and Harris filled that bill. Other moments, I think the Democrats are suffering from a mass hypnotic delusion, nominating a candidate who is seriously flawed. In order to make sense of this mishmash of thoughts, I thought I’d put together a report card of her strengths and weaknesses. In the rallies and events she has done since her ascension, Harris has been dominating, poised and exuberant.
Persons: Kamala Harris, Donald Trump, Harris, Gary Delagnes, , I’d, prosecutes Trump Organizations: Democratic Party’s, Politico, Democratic
Can we all admit there was something supremely gratifying about watching Nancy Pelosi work over the last few weeks? As concerns mounted among Democrats about President Biden’s mental fitness and his disastrous debate performance, and as Mr. Biden responded by digging in his heels, it was the 84-year-old Ms. Pelosi — a fellow octogenarian, no longer in charge, yet as shrewd and formidable an operator as ever — who took those concerns and helped organize them into a sustained pressure campaign. When Mr. Biden said he absolutely wouldn’t drop out, Ms. Pelosi went on his favorite TV show to say he needed to make a decision “because time is running short.” When the president told her during a phone call that polling data suggested he could still win, she challenged him: “Put Donilon on the phone,” Ms. Pelosi is said to have demanded of the president, asking for one of Biden’s advisers. “Show me what polls.”Even as Mr. Biden was becoming “increasingly resentful” of what he viewed as the “orchestrated campaign” against him, as The Times reported, she kept working methodically behind the scenes, talking to lawmakers, members of her old leadership team and her large network of donors, who slowly and steadily kept piling on. Before Mr. Biden ultimately threw in the towel last weekend, his team was bracing for what she might do next, Politico reported, with a quote that made this grandmother of 10 sound a bit like Don Corleone.
Persons: Nancy Pelosi, Biden, Pelosi —, Pelosi, Ms, , Mr, Don Corleone Organizations: Times, Politico
Her multi-hour phone blitz to Democratic Party power players on Sunday hinted at an operation primed ahead of time but that was kept secret and didn’t leak. The vice president has shown signs of improving her political skills recently, but that’s never been her forte. In a memo to reporters, the Trump campaign previewed a blistering assault to come on Harris. Harris is the least popular vice president in history – which is no surprise given her terrible record,” the memo said. The question now is whether Harris, who has exhibited considerable political liabilities as vice president, has the skills, staying power and luck to take advantage.
Persons: CNN — Kamala Harris, Joe Biden –, Donald Trump, Harris, Biden, Nancy Pelosi, Biden’s, Pelosi, Harris –, Trump, that’s, Barack Obama, Susie Wiles, Chris LaCivita, “ She’s, Joe Biden, ” Harris carves, He’s, pollsters, • Harris, Ben Wikler, , outpolled, Nikki Haley, , you’re, we’ve, Eric Swalwell, CNN’s John Berman, Chris Sununu, ’ ” • Harris, Hakeem Jeffries, Chuck Schumer, Kamala Harris, ” Harris, anoint Harris, , It’s, Vance, “ Kamala Harris Organizations: CNN, Democratic, Democratic Party, Sunday, Trump, Biden, Republican, GOP, Chicago . Governors, Wisconsin Democratic, Badger, Former South Carolina Gov, ” Democratic, • New, • New Hampshire Republican Gov, White, National Collegiate Athletics Association, Paris Olympics, Locations: Wilmington , Delaware, Covid, Washington, America, Harris, Chicago ., California, , • New Hampshire, Iowa, American
This could be good news for student-loan borrowers looking for relief. When it comes to broader student-loan forgiveness, Harris has stood behind Biden's efforts to cancel student debt. AdvertisementBiden's administration is now working toward a second attempt at broader student-loan forgiveness, which is expected to benefit over 30 million borrowers. Harris's office did not immediately respond to a request for comment from Business Insider on the higher education and student-loan forgiveness policies she might prioritize as a candidate. Beyond student-loan forgiveness, Harris has also vouched for free college and supported Sen. Bernie Sanders's College for All Act, which would make tuition free for students at community colleges and four-year public institutions making up to $125,000 a year.
Persons: , Joe Biden, Kamala Harris, Biden, Harris, Pell Grant, Sen, Bernie Sanders's Organizations: Service, Business, Corinthian College, Education Department, Corinthian, Administration, Politico, Bernie Sanders's College, All
Read previewA draft budget approved by Germany's government shows the country is planning to halve its military aid to Ukraine next year. The draft budget slashes the amount promised to Ukraine to $4.35 billion in 2025, compared to the roughly $8.14 billion it is receiving this year, Reuters reported. There are fears that Trump will scale back or even totally halt US aid to Ukraine. Germany is the second-biggest donor country by volume of military aid to Ukraine and is Europe's biggest economy. As such, the draft budget is a "moral hazard" for the country, Loss said.
Persons: , Christian Lindner, Lindner, Rafael Loss, Donald Trump, Mary, Trump, he's, MAGA, JD Vance, there's, Olaf Scholz, Scholz Organizations: Service, Reuters, German, Business, European Council, Foreign Relations, Ukraine, Politico, Trump Loss, NATO Locations: Ukraine, Germany, Berlin, Europe
Rep. Adam Schiff (D-CA) appears on "Meet the Press" in Washington D.C., Sunday July 7, 2024. William Plowman | Nbcuniversal | Getty ImagesCalifornia Democratic Rep. Adam Schiff on Wednesday urged President Joe Biden to exit the 2024 presidential election contest. Schiff in a statement said that he had "serious concerns about whether the President can defeat Donald Trump in November." A source familiar with Pelosi told CNBC on Wednesday that Schiff's statement was "news to her" and that he "did not consult her before." Politico on Tuesday reported that Pelosi has offered to talk to members of Congress who wanted to discuss their concerns about having Biden as the Democratic nominee.
Persons: Adam Schiff, William Plowman, Nbcuniversal, Joe Biden, Schiff, Donald Trump, Biden's, Nancy Pelosi, Pelosi, Biden, Trump Organizations: Washington D.C, Getty Images, Getty Images California Democratic, Democratic, U.S, Senate, California Democrat, CNBC, NBC News, Politico, New York Times, Biden, Trump, Republican Locations: Washington, Getty Images California, California, Long Island , New York
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