Trump Media, gun stocks surge after assassination attempt

Republican presidential candidate former President Donald Trump is surrounded by U.S. Secret Service agents at a campaign rally, Saturday, July 13, 2024, in Butler, Pa. (AP)

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Updated 16 July 2024

Reuters

July 16, 2024 02:00

Trump Media, gun stocks surge after assassination attempt

Updated 16 July 2024

Reuters

July 16, 2024 02:00

Crypto stocks, gun stocks and shares of other companies that could benefit from a Donald Trump presidency jumped on Monday after an assassination attempt on the Republican candidate boosted expectations he would win the November election. Trump’s survival after he was shot in the ear during a rally in Pennsylvania on Saturday increased his already considerable lead in betting odds over President Joe Biden. Those odds rose more later on Monday after Trump chose US Senator J.D. Vance to be his vice presidential running mate as the Republican Party officially nominated the former president to run again at the start of the party’s national convention in Milwaukee. On politics-wagering website PredictIt, contracts for a Trump election victory traded at 70 cents, up from 60 cents on Friday, with a potential payout of $1. Contracts for a Biden victory were at 26 cents. Shares of Trump Media & Technology Group, majority-owned by Trump, soared 31 percent, lifting its stock market value to $7.7 billion, despite revenue comparable to two US Starbucks shops.
Trump Media is the parent company of social media platform Truth Social, and its shares have now surged 132 percent in 2024 as retail traders bet Trump will win a second term as president. Added: He previously served from 2017 to 2021.
“It’s nearly four months to go (until the election) and things can change, but today the markets are betting on Trump being the victor,” said Ben Laidler, head of equity strategy at Bradesco BBI, adding that Trump Media “is the tip of the spear and the most sensitive to a Trump victory.” Shares of electric vehicle maker Tesla ended 1.8 percent higher after billionaire CEO Elon Musk publicly endorsed Trump following the shooting.
Tesla gave back earlier gains of as much as 7 percent after the announcement of Vance as Trump’s running mate.
Vance last year introduced legislation to eliminate EV tax subsidies and replace them with tax credits for US-made gasoline or diesel-powered vehicles. The bill would gut a core part of the White House clean vehicle strategy and has no realistic chance of winning approval in the current Democratic-controlled Senate. Crypto stocks soared on Monday, tracking a 10 percent rally in bitcoin to a two-week high. Trump has presented himself as a champion of cryptocurrency. Crypto exchange Coinbase Global and bitcoin miners Riot Platforms and Marathon Digital jumped between 11 percent and 18 percent. Long-dated US bond yields rose on expectations that Trump policies would drive up government debt and stoke inflation, while the benchmark S&P 500 rose 0.3 percent.
“Most investors are not changing their overall commitment to US equities. After all, the broad stock market rose under the last Trump administration and has risen under the Biden administration as well,” said Rick Meckler, partner at Cherry Lane Investments.
Gun makers and ammunition stocks Smith & Wesson Brands , Sturm Ruger & Company and Ammo jumped between 5 percent and 15 percent. Gun stocks in the past have surged following mass shootings, civil unrest and fears of gun control that have led to people to buy more firearms out of fear that their availability would become limited.
Shares of private prison operators Geo Group and CoreCivic each jumped about 8 percent. Both are potential beneficiaries of a Trump presidency as he has promised to crack down on illegal immigration, which could boost demand for detention centers.
Video-sharing platform Rumble, popular with conservatives, soared 21 percent. Clean energy stocks slipped as Trump has said he would reverse many of the Biden administration’s signature climate policies, including tax incentives, if he wins the election.
The Invesco Solar ETF fell 5.9 percent and the iShares Global Clean Energy ETF fell 3.9 percent.
The iShares MSCI China ETF dropped about 2 percent. Investors believe a second Trump presidency could fuel trade tensions between Beijing and the United States. US voters view Trump as the better candidate for the economy, according to Reuters/Ipsos polls, even as Biden’s White House seeks to benefit from a solid economy with inflation slowing and low unemployment.
“In the absence of any real policy proclamations from Trump, traders are finding themselves having to speculate,” said Mark Malek, chief investment officer of Siebert Financial Corp.
“A second Trump presidency would mean expansionary economic stimulus in general, lower income taxes, less regulation, and increased tariffs.”

Topics: 2024 US Elections

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

Updated 6 sec ago

Reuters

November 22, 2024 04:06

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

The Monterey police department referred the complaint to the Monterey County district attorney, who declined to file charges saying there was no sufficient proof
Hegseth, a former Fox News host, has denied the assault allegations and told police at the time that “there was ‘always’ conversation and ‘always’ consensual contact”

Updated 6 sec ago

Reuters

November 22, 2024 04:06

WASHINGTON: A woman filed a sexual assault complaint in 2017 against Pete Hegseth, US President-elect Donald Trump’s nominee to take charge of the Pentagon, according to a California police report.
Hegseth, a former Fox News host, has denied the assault allegations and told police at the time that “there was ‘always’ conversation and ‘always’ consensual contact,” between him and the woman, according to the report.
The case was referred to the Monterey County district attorney by the Monterey police department, but it declined to file charges since they could not be “supported by proof beyond a reasonable doubt.” The Monterey police department did not immediately respond to a request for comment.
“As far as the media (is) concerned, it’s very simple: The matter was fully investigated and I was completely cleared, and that’s where I’m gonna leave it,” Hegseth told reporters on Capitol Hill where he met with Republican senators to build support for his nomination.
The police report, released by the City of Monterey on Wednesday night, does not have the complainant’s name but refers to her as Jane Doe. The report has surfaced after media outlets, including Reuters, filed requests for details about the incident that surfaced after Hegseth was named Trump’s defense secretary nominee.
The report says that Doe told an officer that she was attending a conference at a hotel in Monterey, California, in October 2017, where Hegseth was the keynote speaker.
Doe, according to the report, said she had been drinking and remembers leaving a bar with Hegseth. She said her next memory was being in an unknown room, with Hegseth blocking the door when she tried to leave.
“Doe remembered saying ‘no’ a lot. Jane Doe stated she did not remember much else,” the report said. The report added Doe said that her next memory was on a couch or bed with Hegseth over her and his dog tags hovering in her face.
While Hegseth was bare chested, “Jane Doe did not notice any tattoos, scars and or marks on Hegseth’s body,” the report said. Hegseth has a number of tattoos, including a large Jerusalem cross on his chest, Reuters has previously reported.
Doe, the report said, went to the hospital four days after the incident, where an examination was carried out. A copy of the medical exam was not included in the report. The report did not specify the hospital.
The police report said that video surveillance footage showed “Doe and Hegseth walking together, with arms locked together. Hegseth seemed to be talking and Jane Doe was smiling. Both did not have an unsteady gait.”
The report quoted a redacted name as saying that “DOE was not sure, but believes that something may have been slipped into her drink, as she cannot remember most of the night’s events.”
Hegseth says he told her he didn’t have a condom and said they could stop if that was a problem, the report said.
“Hegseth stated Jane Doe said, ‘No No No, it’s not a problem. Hegseth stated he did not want to get anyone pregnant,” the police report said.
“This police report confirms what I have said all along — that the incident was fully investigated and police found the allegations to be false, which is why no charges were filed,” Hegseth’s attorney Timothy Parlatore said.
Trump has stood by Hegseth, calling the allegations false in a statement on Thursday.
“Pete Hegseth is a highly-respected Combat Veteran who will honorably serve our country when he is confirmed as the next Secretary of Defense, just like he honorably served our country on the battlefield in uniform,” said the statement.
The disclosure of the charges came as former US Representative Matt Gaetz withdrew his name from consideration as Trump’s attorney general, after the House Ethics Committee deadlocked on releasing a report into allegations of sexual misconduct and illegal drug use.

Topics: Trump nominees Pete Hegseth

Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

Updated 39 min 19 sec ago

November 22, 2024 03:07

Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

"It is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition,” Gaetz said
Bondi is a longtime Trump ally and was one of his lawyers during his first impeachment trial when he was accused of abusing his power

Updated 39 min 19 sec ago

November 22, 2024 03:07

WASHINGTON: President-elect Donald Trump on Thursday named Pam Bondi, the former attorney general of Florida, to be US attorney general just hours after his other choice, Matt Gaetz, withdrew his name from consideration.
Bondi is a longtime Trump ally and was one of his lawyers during his first impeachment trial, when he was accused — but not convicted — of abusing his power as he tried to condition US military assistance to Ukraine on that country investigating then-former Vice President Joe Biden.
Bondi was among a group of Republicans who showed up to support Trump at his hush money criminal trial in New York that ended in May with a conviction on 34 felony counts. She’s been a chair at the America First Policy Institute, a think tank set up by former Trump administration staffers.
“For too long, the partisan Department of Justice has been weaponized against me and other Republicans — Not anymore,” Trump said in a social media post. “Pam will refocus the DOJ to its intended purpose of fighting Crime, and Making America Safe Again.”
Trump’s son Donald Trump Jr. told Fox Business on Sunday that the transition team had backups in mind for his controversial nominees should they fail to get confirmed. The swift selection of Bondi came about six hours after Gaetz withdrew.
Gaetz stepped aside amid continued fallout over a federal sex trafficking investigation that cast doubt on his ability to be confirmed as the nation’s chief federal law enforcement officer.

That announcement capped a turbulent eight-day period in which Trump sought to capitalize on his decisive election win to force Senate Republicans to accept provocative selections like Gaetz, who had been investigated by the Justice Department before being tapped last week to lead it. The decision could heighten scrutiny on other controversial Trump nominees, including Pentagon pick Pete Hegseth, who faces sexual assault allegations that he denies.
“While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition,” Gaetz, a Florida Republican who one day earlier met with senators in an effort to win their support, said in a statement.
“There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney General. Trump’s DOJ must be in place and ready on Day 1,” he added. Hours later, Gaetz posted on social media that he looks “forward to continuing the fight to save our country,” adding, “Just maybe from a different post.”
Trump, in a social media post, said: “I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General. He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect. Matt has a wonderful future, and I look forward to watching all of the great things he will do!”
Last week, Trump named personal lawyers Todd Blanche, Emil Bove and D. John Sauer to senior roles in the department. Another possible attorney general contender, Matt Whitaker, was announced Wednesday as the US ambassador to NATO.
Bondi, too, is a longtime loyalist. She has been a vocal critic of the criminal cases against Trump as well as Jack Smith, the special counsel who charged Trump in two federal cases. In one radio appearance, she blasted Smith and other prosecutors who have charged Trump as “horrible” people she said were trying to make names for themselves by “going after Donald Trump and weaponizing our legal system.”
If confirmed by the Republican-led Senate, Bondi would instantly become one of the most closely watched members of Trump’s Cabinet given the Republican’s threat to pursue retribution against perceived adversaries and concern among Democrats that he will look to bend the Justice Department to his will. A recent Supreme Court opinion not only conferred broad immunity on former presidents but also affirmed a president’s exclusive authority over the Justice Department’s investigative functions.
Bondi would inherit a Justice Department expected to pivot sharply on civil rights, corporate enforcement and the prosecutions of hundreds of Trump supporters charged in the Jan. 6, 2021, riot at the US Capitol — defendants whom Trump has pledged to pardon.
It’s unlikely that Bondi would be confirmed in time to overlap with Smith, who brought two federal indictments against Trump that are both expected to wind down before the incoming president takes office. Special counsels are expected to produce reports on their work that historically are made public, but it remains unclear when such a document might be released.
In 2013, while serving as Florida attorney general, Bondi publicly apologized for asking that the execution of a man convicted of murder be delayed because it conflicted with a campaign fundraiser.
Bondi said she was wrong and sorry for requesting then-Gov. Rick Scott push back the execution of Marshall Lee Gore by three weeks.
Before she ran for state attorney general in 2010, Bondi worked for the Hillsborough County state attorney.

Topics: Donald Trump Matt Gaetz Pam Bondi

Elon Musk blasts Australia’s planned ban on social media for children

Updated 22 November 2024

Reuters

November 21, 2024 02:56

Elon Musk blasts Australia’s planned ban on social media for children

Updated 22 November 2024

Reuters

November 21, 2024 02:56

SYDNEY, Nov 22 : US billionaire Elon Musk, owner of social media platform X, has criticized Australia’s proposed law to ban social media for children under 16 and fine social media platforms of up to A$49.5 million ($32 million) for companies for systemic breaches.
Australia’s center-left government on Thursday introduced the bill in parliament. It plans to try an age-verification system to enforce a social media age cut-off, some of the toughest controls imposed by any country to date.
“Seems like a backdoor way to control access to the Internet by all Australians,” Musk, who views himself as a champion of free speech, said in a reply late on Thursday to Prime Minister Anthony Albanese’s post on X about the bill.
Several countries have already vowed to curb social media use by children through legislation, but Australia’s policy could become one of the most stringent with no exemption for parental consent and pre-existing accounts.
France last year proposed a ban on social media for those under 15 but allowed parental consent, while the US has for decades required technology companies to seek parental consent to access the data of children under 13.
Musk has previously clashed with Australia’s center-left Labor government over its social media policies and had called it “fascists” over its misinformation law.
In April, X went to an Australian court to challenge a cyber regulator’s order for the removal of some posts about the stabbing of a bishop in Sydney, prompting Albanese to call Musk an “arrogant billionaire.” ($1 = 1.5359 Australian dollars) (Reporting by Renju Jose in Sydney; Editing by David Gregorio)

Philippines cleans up after sixth major storm in weeks

Updated 22 November 2024

AFP

November 18, 2024 04:40

Philippines cleans up after sixth major storm in weeks

There have been no other reports so far of deaths or injuries
Power outages across the island province of Catanduanes could last for months

Updated 22 November 2024

AFP

November 18, 2024 04:40

Manila: Filipinos cleared fallen trees and repaired damaged houses on Monday after the sixth major storm to batter the Philippines in a month smashed flimsy buildings, knocked out power and claimed at least one life.
The national weather service had warned of a “potentially catastrophic” impact from Man-yi, which was a super typhoon when it hit over the weekend, but President Ferdinand Marcos said Monday it “wasn’t as bad as we feared.”
Packing maximum sustained wind speeds of 185 kilometers an hour, Man-yi slammed into Catanduanes island late Saturday, and the main island of Luzon on Sunday afternoon.
It uprooted trees, brought down power lines, crushed wooden houses and triggered landslides, but did not cause serious flooding.
“Though Pepito was strong, the impact wasn’t as bad as we feared,” Marcos said, according to an official transcript of his remarks to media, using the local name for Man-yi.
One person was killed in Camarines Norte province, which Marcos said was “one casualty too many.” Police said the victim, a 79-year-old man, died after his motorbike was caught in a power line.
There have been no other reports so far of deaths or injuries.
“We will now carry on with the rescue of those (in) isolated areas and the continuing relief for those who are, who have been displaced and have no means to prepare their own meals and have no water supplies,” Marcos said.
Power outages across the island province of Catanduanes could last for months after Man-yi toppled electricity poles, provincial information officer Camille Gianan told AFP.
“Catanduanes has been heavily damaged by that typhoon — we need food packs, hygiene kits and construction materials,” Gianan said.
“Most houses with light materials were flattened while some houses made of concrete had their roofs, doors and windows destroyed.”
In the coastal town of Baler in Aurora province, clean-up operations were underway to remove felled trees and debris blocking roads and waterways.
“Most of the houses here are made of light materials so even now, before the inspection, we are expecting heavy damage on many houses in town,” disaster officer Neil Rojo told AFP.
“We’ve also received reports of roofs that went flying with the wind last night... it was the fierce wind that got us scared, not exactly the heavy rains.”
Storm weakens
Man-yi weakened significantly as it traversed the mountains of Luzon and was downgraded to a severe tropical storm as it swept over the South China Sea toward Vietnam on Monday.
More than a million people in the Philippines fled their homes ahead of the storm, which followed an unusual streak of violent weather.
Climate change is increasing the intensity of storms, leading to heavier rains, flash floods and stronger gusts.
At least 163 people in the Philippines died in the past month’s storms, which left thousands homeless and wiped out crops and livestock.
About 20 big storms and typhoons hit the Southeast Asian nation or its surrounding waters each year, killing scores of people, but it is rare for multiple such weather events to take place in a small window.
Man-yi also hit the Philippines late in the typhoon season — most cyclones develop between July and October.
This month, four storms were clustered simultaneously in the Pacific basin, which the Japan Meteorological Agency told AFP was the first time such an occurrence had been observed in November since its records began in 1951.

Topics: Philippines

Texas offers Trump land on US-Mexico border for potential mass deportations

Updated 22 November 2024

November 22, 2024 02:10

Texas offers Trump land on US-Mexico border for potential mass deportations

Updated 22 November 2024

November 22, 2024 02:10

McALLEN, Texas: Texas is offering a parcel of rural ranchland along the US-Mexico border to use as a staging area for potential mass deportations under President-elect Donald Trump.
The property, which Texas originally purchased last month, is located in rural Starr County in the Rio Grande Valley. Republican Dawn Buckingham, the Texas Land Commissioner, sent a letter Nov. 14 to Trump extending the offer.
“We do hear through back channels that they are taking a look at it and considering it. But we just want them to know we’re a good partner. We’re here. We want to be helpful,” Buckingham told The Associated Press in an interview on Wednesday.
The property has no paved roads and sits in a county with one public hospital and limited local resources. But Buckingham stressed its location.
“We feel like this is actually very well-located. The land is very flat there. It’s adjacent to major airports. It’s also adjacent to a bridge over the river,” Buckingham said. “So if it’s helpful, then I would love to partner up with the federal government. And if it’s not, then we’ll continue to look to ways to be helpful to them.”
The land offer is the latest illustration of a sharp divide between states and local governments on whether to support or resist Trump’s plans for mass deportations of migrants living in the US illegally. On Tuesday, the Los Angeles City Council voted to become a “sanctuary” jurisdiction, limiting cooperation with federal immigration authorities to carry out deportations.
Texas leaders have long backed aggressive measures on the border to curb crossings, including installing razor-wire barriers and passing a law last year that would allow law enforcement to arrest migrants who cross the border illegally.
“By offering this newly-acquired 1400-acre property to the incoming Trump Administration for the construction of a facility for the processing, detention, and coordination of what will be the largest deportation of violent criminals in our nation’s history, I stand united with President Donald Trump to ensure American families are protected,” Buckingham said in an earlier statement.
Trump has said he plans to begin his deportation efforts on the first day of his presidency. He frequently attacked illegal immigration during his campaign, linking a record spike in unauthorized border crossings to issues ranging from drug trafficking to high housing prices.
There are an estimated 11 million people in the country illegally. Questions remain about how people would be identified and where they would be detained.
The president-elect’s transition team did not say whether they would accept Texas’ offer but sent a statement.
“On day one, President Trump will marshal every lever of power to secure the border, protect their communities, and launch the largest mass deportation operation of illegal immigrant criminals in history,” Karoline Leavitt, the transition spokeswoman for Trump and Vice President-elect JD Vance, said Wednesday.
The Texas General Land Office did not disclose the amount paid for the land, but Buckingham stated the previous owner resisted the creation of a border wall.
A 1.5-mile (2.4 kilometer) stretch of border wall was built under Republican Gov. Greg Abbott in 2021 on that land. Buckingham said with the recent purchase, the state has created another easement for more border wall construction.

Topics: US Donald Trump

Trump Media, gun stocks surge after assassination attempt

Trump Media, gun stocks surge after assassination attempt

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

Trump nominates Fox News host Pete Hegseth for defense secretary

Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

US House ethics panel launches investigation into Republican Gaetz

Trump nominee admits to employing illegal immigrant

Elon Musk blasts Australia’s planned ban on social media for children

Elon Musk blasts Australia’s planned ban on social media for children

Philippines cleans up after sixth major storm in weeks

Philippines cleans up after sixth major storm in weeks

Philippines, United States sign military intelligence-sharing deal

More than 1.2 million people flee as new super typhoon hits Philippines

Texas offers Trump land on US-Mexico border for potential mass deportations

Texas offers Trump land on US-Mexico border for potential mass deportations

US gathers allies to talk AI safety as Trump’s vow to undo Biden’s AI policy overshadows their work

Trump chooses former acting Attorney General Matt Whitaker as NATO ambassador

Latest updates

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

Bitcoin approaches $100,000 on optimism over Trump crypto plans

Elon Musk blasts Australia’s planned ban on social media for children

Philippines cleans up after sixth major storm in weeks

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Trump Media, gun stocks surge after assassination attempt

Trump Media, gun stocks surge after assassination attempt

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

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Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws amid fallout over sex trafficking probe

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