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
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Trump Media, gun stocks surge after assassination attempt

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.”


Late Harrods owner Al-Fayed accused of rape: BBC

Updated 19 sec ago
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Late Harrods owner Al-Fayed accused of rape: BBC

  • More than 20 women have spoken to the BBC as part of a special investigation alleging assault and physical violence at properties in London and Paris
London: Multiple women have accused Egyptian billionaire Mohamed Al-Fayed, the former owner of upmarket London department store Harrods where they worked, of rape and sexual assault, the BBC said on Thursday.
The allegations, made in a BBC documentary and podcast, are the latest to be levelled at powerful figures following the start of the #MeToo movement in 2017.
Fayed, who died last year at the age of 94, was a prominent figure in British life for decades due to his ownership of Harrods.
A confidant of the late Princess Diana, his son Dodi died alongside her in a car crash in Paris in 1997.
More than 20 women have spoken to the BBC as part of a special investigation alleging assault and physical violence at properties in London and Paris.
Five women said they had been raped by him, according to the documentary “Al Fayed: Predator at Harrods” due to be broadcast later Thursday and the “World of Secrets” podcast.
Fayed had previously been accused of sexually assaulting and groping multiple women but a 2015 police investigation into a rape allegation did not lead to any charges.
Harrods’ current owners said they were “utterly appalled” by the allegations of abuse, adding: “As a business we failed our employees who were his victims and for this we sincerely apologize.”
In July 2023, Harrods began settling claims with women who came forward with claims of sexual abuse by Fayed from the late 1980s to late 2000s.
Fayed sold the famous store in Knightsbridge in 2010 to the investment arm of Qatar’s sovereign wealth fund for a reported £1.5 billion ($2.2 billion).

At least 1000 people evacuated as flooding hits northern Italy

Updated 19 min 52 sec ago
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At least 1000 people evacuated as flooding hits northern Italy

  • Rivers flooded in three of the region’s provinces — Ravenna, Bologna and Faenza — as local mayors asked people to stay on upper floors

ROME: About a thousand residents were evacuated in the northern Italian region of Emilia-Romagna after it was hit by torrential rains and severe flooding overnight, local media reported Thursday.
Rivers flooded in three of the region’s provinces — Ravenna, Bologna and Faenza — as local mayors asked people to stay on upper floors or leave their houses.
At least 800 residents in the Ravenna area and almost 200 in Bologna province spent the night in shelters, schools and sports centers as local rivers overflowed.
Trains were suspended and schools closed across the affected areas, and residents have been advised to avoid travel and work from home where possible.
The Faenza area was just recovering from the devastating floods that hit Emilia-Romagna in May 2023, claiming 17 lives and causing billions of euros in damages.
“The night was dramatic, we waited for the river flood to cross the city,” Faenza mayor Massimo Isola told state TV Rainews. “It rose really close to the limit, but thanks to the works done over the past year we managed to avoid an overflow in the center of the city.”
Several Central and Eastern European nations have been plagued by severe flooding in recent days, including Austria, the Czech Republic, Poland and Romania, with the death toll rising over 20 people across the region.


A gold mining town in Congo has become an mpox hot spot as a new strain spreads

Updated 19 September 2024
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A gold mining town in Congo has become an mpox hot spot as a new strain spreads

  • Mpox causes mostly mild symptoms like fever and body aches, but can trigger serious cases
  • Lack of funds, vaccines and information is making it difficult to stem the spread

KAMITUGA: Slumped on the ground over a mound of dirt, Divine Wisoba pulled weeds from her daughter’s grave. The 1-month-old died from mpox in eastern Congo in August, but Wisoba, 21, was too traumatized to attend the funeral.
In her first visit to the cemetery, she wept into her shirt for the child she lost and worried about the rest of her family. “When she was born, it was as if God had answered our prayers — we wanted a girl,” Wisoba said of little Maombi Katengey. “But our biggest joy was transformed into devastation.”
Her daughter is one of more than 6,000 people officials suspect have contracted the disease in South Kivu province, the epicenter of the world’s latest mpox outbreak, in what the World Health Organization has labeled a global health emergency. A new strain of the virus is spreading, largely through skin-to-skin contact, including but not limited to sex. A lack of funds, vaccines and information is making it difficult to stem the spread, according to alarmed disease experts.
Mpox — which causes mostly mild symptoms like fever and body aches, but can trigger serious cases with prominent blisters on the face, hands, chest and genitals — had been spreading mostly undetected for years in Africa, until a 2022 outbreak reached more than 70 countries. Globally, gay and bisexual men made up the vast majority of cases in that outbreak. But officials note mpox has long disproportionately affected children in Africa, and they say cases are now rising sharply among kids, pregnant women and other vulnerable groups, with many types of close contact responsible for the spread.
Health officials have zeroed in on Kamituga, a remote yet bustling gold mining town of some 300,000 people that attracts miners, sex workers and traders who are constantly on the move. Cases from other parts of eastern Congo can be traced back here, officials say, with the first originating in the nightclub scene.
Since this outbreak began, one year ago, nearly 1,000 people in Kamituga have been infected. Eight have died, half of them children.
Challenges on the ground
Last month, the World Health Organization said mpox outbreaks might be stopped in the next six months, with governments’ leadership and cooperation.
But in Kamituga, people say they face a starkly different reality.
There’s a daily average of five new cases at the general hospital, which is regularly near capacity. Overall in South Kivu, weekly new suspected cases have skyrocketed from about 12 in January to 600 in August, according to province health officials.
Even that’s likely an underestimate, they say, because of a lack of access to rural areas, the inability of many residents to seek care, and Kamituga’s transient nature.
Locals say they simply don’t have enough information about mpox.
Before her daughter got sick, Wisoba said, she was infected herself but didn’t know it.
Painful lesions emerged around her genitals, making walking difficult. She thought she had a common sexually transmitted infection and sought medicine at a pharmacy. Days later, she went to the hospital with her newborn and was diagnosed with mpox. She recovered, but her daughter developed lesions on her foot.
Nearly a week later, Maombi died at the same hospital that treated her mother.
Wisoba said she didn’t know about mpox until she got it. She wants the government to invest more in teaching people protective measures.
Local officials can’t reach areas more than a few miles outside Kamituga to track suspected cases or inform residents. They broadcast radio messages but say that doesn’t reach far enough.
Kasindi Mwenyelwata goes door to door describing how to detect mpox — looking for fevers, aches or lesions. But the 42-year-old community leader said a lack of money means he doesn’t have the right materials, such as posters showing images of patients, which he finds more powerful than words.
ALIMA, one of the few aid groups working on mpox in Kamituga, lacks funds to set up programs or clinics that would reach some 150,000 people, with its budget set to run out at year’s end, according to program coordinator Dr. Dally Muamba.
If support keeps waning and mpox spreads, he said, “there will be an impact on the economy, people will stop coming to the area as the epidemic takes its toll. ... And as the disease grows, will resources follow?”
The vaccine vacuum
Health experts agree: What’s needed most are vaccines — even if they go only to adults, under emergency approval in Congo.
None has arrived in Kamituga, though it’s a priority city in South Kivu, officials said. It’s unclear when or how they will. The main road into town is unpaved — barely passable by car during the ongoing rainy season.
Once they make it here, it’s unclear whether supply will meet demand for those who are at greatest risk and first in line: health staff, sex workers, miners and motorcycle taxi drivers.
Congo’s government has budgeted more than $190 million for its initial mpox response, which includes the purchase of 3 million vaccine doses, according to a draft national mpox plan, widely circulating among health experts and aid groups this month and seen by The Associated Press. But so far, just 250,000 doses have arrived in Congo and the government’s given only $10 million, according to the finance ministry.
Most people with mild cases recover in less than two weeks. But lesions can get infected, and children or immunocompromised people are more prone to severe cases.
Doctors can ensure lesions are clean and give pain medication or antibiotics for secondary infections such as sepsis.
But those who recover can get the virus again.
A new variant, a lack of understanding
Experts say a lack of resources and knowledge about the new strain makes it difficult to advise people on protecting themselves. An internal report circulated among aid groups and agencies and seen by AP labeled confidence in the available information about mpox in eastern Congo and neighboring countries low.
While the variant is known to be more easily transmissible through sex, it’s unclear how long the virus remains in the system. Doctors tell recovered patients to abstain from sex for three months, but acknowledge the number’s largely arbitrary.
“Studies haven’t clarified if you’re still contagious or not ... if you can or can’t have sex with your wife,” said Dr. Steven Bilembo, of Kamituga’s general hospital.
Doctors say they’re seeing cases they simply don’t understand, such as pregnant women losing babies. Of 32 pregnant women infected since January, nearly half lost the baby through miscarriage or stillbirth, hospital statistics show.
Alice Neema was among them. From the hospital’s isolation ward, she told AP she’d noticed lesions around her genitals and a fever — but didn’t have enough money to travel the 30 miles (50 kilometers) on motorbike for help in time. She miscarried after her diagnosis.
As information trickles in, locals say fear spreads alongside the new strain.
Diego Nyago said he’d brought his 2-year-old son, Emile, to the hospital for circumcision when he developed a fever and lepasions.
It was mpox — and today, Nyago is grateful he was already at the hospital.
“I didn’t believe that children could catch this disease,” he said as doctors gently poured water over the boy to bring his temperature down. “Some children die quickly, because their families aren’t informed.
“Those who die are the ones who stay at home.”


Blinken subpoenaed to appear next week before House committee over Afghanistan

Updated 19 September 2024
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Blinken subpoenaed to appear next week before House committee over Afghanistan

  • The committee had previously wanted Blinken to appear today but was told he was not available on September 19
  • If Secretary Blinken fails to appear now, he can be held in contempt of Congress for violating a duly issued subpoena

WASHINGTON: The US House of Representatives Foreign Affairs Committee subpoenaed Secretary of State Antony Blinken on Wednesday to appear before it on Sept. 24 over the chaotic US withdrawal from Afghanistan in 2021.
“If Secretary Blinken fails to appear, the chairman will proceed instead with a full committee markup of a report recommending the US House of Representatives find Secretary Blinken in contempt of Congress for violating a duly issued subpoena,” according to a statement from the committee.
The committee had previously wanted Blinken to appear on Sept. 19. The State Department said earlier this month that Blinken was not available to testify on the dates proposed by the committee, but has proposed “reasonable alternatives.”
The State Department did not immediately respond to a request for comment from Reuters on Wednesday.
The Republican-led committee has been investigating the deadly and chaotic withdrawal from Afghanistan for years and an appearance next week before lawmakers by Blinken over a heavily politicized issue would come just weeks before the Nov. 5 election.
Blinken has testified before Congress on Afghanistan more than 14 times, including four times before the committee, and the State Department has provided the committee with nearly 20,000 pages of records, multiple high-level briefings and transcribed interviews, a department spokesperson said earlier in September.


UN advisory body makes seven recommendations for governing AI

Updated 19 September 2024
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UN advisory body makes seven recommendations for governing AI

  • Only a handful of countries have created laws to govern the spread of AI tools
  • The UN last year created a 39-member advisory body to address issues in the international governance of AI

STOCKHOLM: An artificial-intelligence advisory body at the United Nations on Thursday released its final report proposing seven recommendations to address AI-related risks and gaps in governance.
The UN last year created a 39-member advisory body to address issues in the international governance of AI. The recommendations will be discussed during a UN summit held in September.
The advisory body called for the establishment of a panel to provide impartial and reliable scientific knowledge about AI and address information asymmetries between AI labs and the rest of the world.
Since the release of Microsoft-backed OpenAI’s ChatGPT in 2022, the use of AI has spread rapidly, raising concerns about fueling misinformation, fake news and infringement of copyrighted material.
Only a handful of countries have created laws to govern the spread of AI tools. The European Union has been ahead of the rest by passing a comprehensive AI Act compared with the United States’ approach of voluntary compliance while China has aimed to maintain social stability and state control.
The United States was among about 60 countries that endorsed a “blueprint for action” to govern responsible use of AI in the military on Sept. 10, while China did not support the legally non-binding document.
With the development of AI in the hands of a few multinational companies, there is a danger that the technology could be imposed on people without them having a say in how it is used, the UN said in a statement.
It also recommended a new policy dialogue on AI governance, creating an AI standards exchange and a global AI capacity development network to boost governance capacities.
Among other proposals, the UN wants a global AI fund to be established, which would address gaps in capacity and collaboration. It also advocates the formation of a global AI data framework to ensure transparency and accountability.
Finally, the UN report proposed setting up a small AI office to support and coordinate the implementation of these proposals.