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Sowei 2025-01-13
PMI data, consumer sentiment in focus for Friday's economic releasesy777

Election results on the other side of the Atlantic Ocean have set the background for the final stretch of campaigning for Irish parties ahead of polling day on Friday. Donald Trump’s presidential election victory in the US has brought heightened concern that his administration’s proposals around corporation tax and tariffs would significantly impact Ireland’s economic model. Mr Harris, leader of Fine Gael, has argued Ireland and other EU countries need to prepare for the possibility of trade shocks as he criticised the scale of Sinn Fein’s spending pledges as well as their saving plans. He said: “I think that is irresponsible, I think it is dangerous and I think it is reckless.” He accused Sinn Fein leader Mary Lou McDonald of not being able to say what her party was prepared to do in the event of an economic crash, adding that Fine Gael would borrow and stop putting money towards a rainy-day fund. Asked if the party was engaging in “project fear” to dissuade voters against Sinn Fein, Mr Harris said: “I call it ‘project truth’. It’s telling people what’s being discussed right across European capitals.” Ms McDonald told an RTE interview on Wednesday morning that a Sinn Fein government would also be prepared to start borrowing in the event of an economic downturn. Both Mr Harris and Fianna Fail leader Micheal Martin, who were partners in the last coalition government in Ireland, have made clear they will not countenance Sinn Fein as a potential partner in the next administration in Dublin. One day after the only three-way debate featuring the leaders of the main parties, Mr Martin accused Sinn Fein of being “dishonest” about how they will fund their manifesto plans. Speaking in Dublin on Wednesday, he said he is anxious to get clarity on the issue. “I think Sinn Fein have been very dishonest, frankly, in terms of the funds, because if you go through their figures, and this is a matter of fact, not opinion, they’re predicting a surplus of a billion in 2026, a billion in 2027. “Even in 2025, they’re talking about a mini budget, which would mean reducing the surplus that we’re anticipating in 2025. “There’s a legislative obligation now on any new government to put 0.8% of GDP to one side, and into the funds. There’s no way you can do that with a surplus of a billion in 2026 or 2027, and we would argue they would not have enough funds next year either to put into the funds.” He added: “It means they have no room to manoeuvre if things go wrong, if there’s headwinds come externally, or there are shocks internationally, Sinn Fein is not allowing any headroom at all in terms of room to respond or to move it.” Ms McDonald accused the other two parties of conspiring to keep Sinn Fein out of government and prevent change in Ireland. She said the two men were now “indistinguishable” from each other as she claimed they were suffering “acute amnesia” in regard to their records in government. On a visit to Naas fire station in Co Kildare, she said: “To listen to them, you’d imagine they had just arrived on the scene and that they were going to come up with all of these solutions. “They have had ample chances, ample opportunity, to make things better, and they have failed, and in between the two of them I make the case that now we ask for our chance, with our plans, with our team, to demonstrate how change can happen, how your community, your family, yourself, can be supported when the government is actually on your side.” Mr Martin’s and Mr Harris’ coalition partner Roderic O’Gorman, the leader of the Greens, issued a warning to the public over a future government without his party. On Wednesday, he said it is looking likely that Fianna Fail and Fine Gael will be returned to government – but cautioned they may not want the Greens to continue “fighting hard” on policies. He told reporters: “My sense is certainly the mood music from Fianna Fail and Fine Gael is that they’d like an easier life in the next government – and my concern is they use these small populist parties and right-wing independents.” Mr O’Gorman argued that the Greens could continue to provide stability to government at a time when economic shocks may be around the corner. As the Green leader suggested that relying on independents would be unstable, Mr Martin has also argued that “too much fragmentation would lead to incoherence in government”. Reflecting on Tuesday night’s debate, the Fianna Fail leader said the race remained “too close to call” while Mr Harris said it is “all to play for”. The leaders of Ireland’s three main political parties clashed on housing, healthcare and financial management in the last televised debate before Friday’s General Election. The tetchy debate, which was marked by several interruptions, saw the parties set out their stalls in a broadcast that commentators said did little to move the dial before polling day. The latest opinion poll on Wednesday put the parties in a tight grouping, with Fianna Fail slightly ahead of Sinn Fein and Fine Gael in joint second. After the 2020 general election delivered an inconclusive result, Fine Gael and Fianna Fail, two parties forged from opposing sides of Ireland’s Civil War of the 1920s, agreed to set aside almost a century of animosity and share power – with the Greens as a junior partner. From 2016 to 2020, Fianna Fail had supported Fine Gael in power through a confidence-and-supply arrangement from the Opposition benches in the Dail parliament. Sinn Fein won the popular vote in 2020 but a failure to run enough candidates meant it did not secure sufficient seats in the Dail to give it a realistic chance of forming a government.NoneHere are the billionaires stocking Trump’s next administration



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Bolfing, Cahee return to finish staffWomen’s advocates say provincial and federal governments need to step up efforts to create housing for people escaping gender-based violence because too many women are forced to remain in unsafe situations after being abused. A study released last week by Women’s Shelters Canada says the country’s housing crisis is preventing many people from finding affordable and safe housing after leaving their abuser. Of the 381 shelters and transition houses that responded, 94 per cent of emergency shelters and 83 per cent of transition homes said victims were staying longer than they had in the past while searching for housing. The report also said when people do leave the facilities, about half return to their abusers because they have no other options. More than two-thirds of the women end up in housing situations considered precarious, which meant they were living with friends or families or trading work for rent. A full 36 per cent experience homelessness at some point. Anna Morgan, manager of programs and services at Ernestine’s Women’s Shelter in Etobicoke, Ont., says her organization has seen enormous demand for services as rents in the Greater Toronto Area soar. Her shelter is meant to provide short-term accommodation for women escaping violence, but it has become more like a transition house as people struggle to find a new place to live. READ MORE: Sooke Transition House sounds alarm over lack of options for women with pets fleeing domestic abuse “We’re over capacity,” Morgan said in a phone interview this week. “The shelter system is becoming basically transitional housing for people, and they (the shelters) are really not set up to be housing.” She said the shelter had to turn away 312 people in the fiscal year that ended March 31, and it is on track to turn away a high number again this year. The shelter helps women and gender-diverse people from all racial and ethnic backgrounds. Many people come from the GTA and neighbouring communities, but Morgan says sometimes people arrive from out of province or even as refugees. The vast majority of people coming to the shelter are “deeply poor,” she says, either on social assistance or working minimum wage jobs. The average rent in Toronto is $3,091 for a two-bedroom apartment, according to Rentals.com, and the wait for social housing is 10 years after getting on the wait-list. Morgan said the report’s findings ring true. In her experience, it’s common for people leaving the shelter system to either couch-surf or get back together with their abusers or into “other precarious, exploitative situations.” “They’re getting stuck in that cycle of experiencing gender-based violence and housing instability and precarity,” she said. As well, private landlords sometimes discriminate against people looking to rent based on their race, gender or sexual orientation. Morgan says many landlords also don’t want to rent to people with children, adding further barriers. Outside of Canada’s major urban hubs, smaller communities are also seeing high rates of gender-based violence and increased demand for help. In Moose Jaw, Sask., Jenn Angus of the Moose Jaw Transition House says the lack of affordable housing has driven up the length of stays for clients in her shelter every year for the last five years. “It’s disheartening,” Angus said in a phone interview this week, adding that it is becoming more common for people to stay between 50 and 70 days, when in previously people could find housing within three weeks. Women with children experience the longest stays, Angus added. SEE ALSO: ‘One is too many’: Vigil held to remember the women killed by femicide Angus added she’s noticed a growing trend of people seeking affordable shelter leaving Moose Jaw — a city of about 40,000 people with what she called a good slate of social services — for rural areas, where there are fewer support services. Saskatchewan had the highest rate of police-reported domestic violence among the provinces in 2023 according to Statistics Canada. Jessica Montgomery of the Jessica Martel Memorial Foundation in Morinville, Alta., said finding affordable housing can be difficult for women leaving their abusers because they often leave with little more than “the clothes on their back” and a suitcase. “A lot of survivors coming to us have also experienced economic abuse,” she said, explaining their abusers either had control over their finances or didn’t allow them to work. “It makes them harder to leave because they don’t have the resources to establish a new life.” Montgomery and Angus said the cost of setting up a new home — hooking up utilities, stocking the pantry, finding furniture — is an obstacle for victims trying to make a fresh start. They both said there’s an urgent need for governments at the federal and provincial levels to add funding to housing projects specifically for survivors of gender-based violence and to cut down on wait times for people applying for social assistance programs. In Nova Scotia, the commission of inquiry into the 2020 mass shooting — which began with the gunman brutally assaulting his spouse — called for “epidemic-level funding” to deal with domestic violence. And in September, the province’s legislature adopted a bill naming domestic violence an epidemic. Caira Mohamed of YWCA Halifax says there isn’t necessarily a dollar figure that represents epidemic-level funding. Instead, it involves a consistent level of assistance from the provincial and federal governments for shelters, transition houses and non-profits looking to end gender-based violence. “More programs which are targeted towards survivors of gender-based and intimate-partner violence will start to address some of these gaps (in services) we’re seeing and hopefully meet that threshold of epidemic-level funding,” she said. This report by The Canadian Press was first published Dec. 6, 2024.

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Liverpool leads as the class of the Champions League this season, dumping title holder Real Madrid into an almost unbelievable 24th place in the 36-team standings. No one felt the embarrassment of Madrid’s 2-0 loss at Anfield more than Kylian Mbappé, the superstar added in the offseason by the storied club that also was European champion against Liverpool in the finals of 2022 and 2018. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.George and Ndongo each score 17 points, Georgia Tech defeats Charleston Southern 91-67By Stephanie Lai and Hadriana Lowenkron, Bloomberg News Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Trump said Thursday in a post on his Truth Social network. Trump said that Sacks would also lead the Presidential Council of Advisors for Science and Technology. In Sacks, Trump is tapping one of his most prominent Silicon Valley supporters and fundraisers for a prime position in his administration. Sacks played a key role in bolstering Trump’s fundraising among technology industry donors, including co-hosting an event at his San Francisco home in June, with tickets at $300,000 a head. He is also closely associated with Vice President-elect JD Vance, the investor-turned-Ohio senator. Sacks is a venture capitalist and part of Silicon Valley’s “PayPal Mafia.” He first made his name in the technology industry during a stint as the chief operating officer of PayPal, the payments company whose founders in the late 1990s included billionaire entrepreneur Elon Musk and investor Peter Thiel. After it was sold to eBay, Sacks turned to Hollywood, where he produced the 2005 satire Thank You for Smoking. Back in Silicon Valley, he founded workplace communications company Yammer, which was bought by Microsoft Corp. in 2012 for $1.2 billion. He founded his own venture capital firm, Craft Ventures, in 2017 and has invested in Musk-owned businesses, including SpaceX. Sacks said on a recent episode of his All-In podcast that a “key man” clause in the agreements of his venture firm’s legal documents would likely prevent him from taking a full-time position, but he might consider an advisory role in the new administration. A Craft spokeswoman said Sacks would not be leaving Craft. In his post, Trump said Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.” Protecting free speech is a keen interest of Sacks. He regularly speaks about “woke” interests that try to muzzle unpopular opinions and positions. The new post is expected to help spearhead the crypto industry deregulation Trump promised on the campaign trail. The role is expected to provide cryptocurrency advocates a direct line to the White House and serve as a liaison between Trump, Congress and the federal agencies that interface with digital assets, including the Securities and Exchange Commission and the Commodity Futures Trading Commission. Trump heavily campaigned on supporting crypto, after previously disparaging digital assets during his first White House term, saying their “value is highly volatile and based on thin air.” The president-elect on Thursday said Sacks would “work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.” During the campaign, Trump spoke at a Bitcoin conference, accepted crypto campaign donations and met with executives from Bitcoin mining companies and crypto exchanges multiple times. Trump’s desire to give priority to the digital asset industry is also reflected in his close allies and cabinet selections, including his Commerce secretary pick, Howard Lutnick, and Treasury secretary nominee Scott Bessent. On the AI front, Sacks would help Trump put his imprint on an emerging technology whose popular use has exploded in recent years. Sacks is poised to be at the front lines in determining how the federal government both adopts AI and regulates its use as advances in the technology and adoption by consumers pose a wide array of benefits as well as risks touching on national security, privacy, jobs and other areas. The president-elect has expressed both awe at the power of AI technology as well as concern over the potential harms from its use. During his first term, he signed executive orders that sought to maintain US leadership in the field and directed the federal government to prioritize AI in research and development spending. As AI has become more mainstream in recent years and with Congress slow to act, President Joe Biden has sought to fill that void. Biden signed an executive order in 2023 that establishes security and privacy protections and requires developers to safety-test new models, casting the sweeping regulatory order as necessary to safeguard consumers. A number of technology giants have also agreed to adopt a set of voluntary safeguards which call for them to test AI systems for discriminatory tendencies or security flaws and to share those results. Trump has vowed to repeal Biden’s order. The Republican Party’s 2024 platform dismissed Biden’s executive order as one that “hinders AI Innovation, and imposes Radical Leftwing ideas on the development of this technology.” Sacks can be expected to work closely with Musk, the world’s richest person and one of the president-elect’s most prominent supporters. Musk is also a player in the AI space with his company xAI and a chatbot named Grok — efforts which pit him against Silicon Valley’s giants — and he stands to wield significant influence within the incoming administration. The appointment won’t require Sacks to divest or publicly disclose his assets. Like Musk, Sacks will be a special government employee. He can serve a maximum of 130 days per year, with or without compensation. However, conflict of interest rules apply to special government employees, meaning Sacks will have to recuse himself from matters that could impact his holdings. Sacks’s Craft Ventures is known more for enterprise software investing than for crypto, but it has made a few crypto investments, including BitGo and Bitwise. Still, Sacks has firm opinions on the sector. Speaking last month on All-In, Sacks praised a bill on crypto regulation that had passed in the U.S. House but not the Senate earlier this year. The Financial Innovation and Technology for the 21st Century Act would regulate certain types of digital assets as a commodity, regulated by the Commodity Futures Trading Commission. “The crypto industry basically wants a really clear line for knowing when they’re a commodity and they want commodities to be governed, like all other commodities, by the CFTC,” he said on the November podcast. He also disparaged some of the Securities and Exchange Commission’s positions on crypto under its chair, Gary Gensler. “The days of Gensler terrifying crypto companies,” he said. “Those days are about to be over.” Earlier this week, Trump nominated crypto advocate Paul Atkins to lead the SEC. With assistance from Zoe Ma, Bill Allison, Sarah McBride, Anne VanderMey and stacy-marie ishmael. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

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