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Yearly Archives :

2026

5/14: The Takeout with Major Garrett

5/14: The Takeout with Major Garrett 150 150 admin

Xi lays out warning for Trump on Taiwan; Chinese Americans discuss hopes for summit.
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What to expect from "Survivor 50" finale

What to expect from "Survivor 50" finale 150 150 admin

Defense secretary steps into key Kentucky election to attack Trump critic

Defense secretary steps into key Kentucky election to attack Trump critic 150 150 admin

Defense Secretary Pete Hegseth on Monday railed against one of President Donald Trump’s chief Republican critics in Congress, stepping away from the Iran war and into a Kentucky congressional election that’s testing the president’s political clout.

Hegseth traveled to Kentucky to deliver his remarks, which were designed to undermine Rep. Thomas Massie on the eve of his primary in the state’s 4th Congressional District. Hegseth said he was speaking “as a private citizen” — and not as a member of Trump’s Cabinet.

And yet Hegseth referenced Trump over and over as he praised Massie’s rival, former Navy SEAL Ed Gallrein.

“President Trump needs reinforcements, and that’s what war fighters do. They stand behind leaders and have their back,” Hegseth said. “Too often, Thomas Massie has acted like his job is to stand apart from the movement that President Trump leads, instead of strengthening it. When President Trump needs backup, Massie wants to debate process.”

The defense secretary’s political appearance, which represents an extraordinary break from tradition with the nation at war, comes as Trump looks to demonstrate his continued dominance of the Republican Party, even as he struggles to address heightened concerns about the economy and Iran war less than six months before the midterm elections.

Massie’s primary, perhaps more than others this midterm season, is testing Trump’s clout. The president’s allies have poured tens of millions of dollars into the campaign against Massie in what has become the most expensive congressional primary in U.S. history.

Massie, a rare Republican congressman who has openly clashed with Trump, has criticized the war in Iran and aggressively pushed for the release of the Jeffrey Epstein files.

“They’re desperate. That’s why they’re sending the secretary of war to my district,” Massie said Sunday on ABC’s “This Week.” “That’s why the president’s losing sleep and tweeting about this.”

Ahead of Hegseth’s appearance in Kentucky, the Pentagon issue a statement in response to criticism that the defense secretary was breaking the law by using taxpayer dollars for political purposes.

“Secretary Hegseth is attending this event in his personal capacity. No taxpayer dollars will be used to facilitate his visit,” said Chief Pentagon Spokesman Sean Parnell. “His participation has been thoroughly vetted and cleared by lawyers, including the Department of War Office of General Counsel, and does not violate the Hatch Act or any other applicable federal statute.”

___ Associated Press writer Konstantin Toropin in Washington contributed to this report.

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Asian shares trade mixed and Kospi falls nearly 4% as oil prices keep swinging

Asian shares trade mixed and Kospi falls nearly 4% as oil prices keep swinging 150 150 admin

TOKYO (AP) — Asian shares were mixed Tuesday as uncertainty about what will happen with the Iran war roiled global markets.

Japan’s benchmark Nikkei 225 lost 0.6% in morning trading to 60,433.79, erasing initial gains after the government reported that the economy grew for the second straight quarter in January-March, mainly due to better than expected consumer spending.

South Korea’s Kospi sank more than 4% in early trading and was down 3.5% at 7,249.73 by midday. Shares in Samsung Electronics slipped 3.8% and SK Hynix fell 4%, tracking losses in tech shares overnight on Wall Street.

Australia’s S&P/ASX 200 added 0.9% to 8,582.80. Hong Kong’s Hang Seng climbed 0.5% to 25,811.28, while the Shanghai Composite shed 0.3% to 4,121.11.

On Monday, the S&P 500 swiveled between gains and losses before finishing with a dip of 0.1% at 7,403.05, its second loss since setting an all-time high last week. The Dow Jones Industrial Average added 0.3% to 49,686.12, and the Nasdaq composite fell 0.5% to 26,090.73.

In energy trading, benchmark U.S. crude lost $1.36 to $103.02 a barrel. Brent crude, the international standard, dipped $1.99 to $110.11 a barrel.

Oil prices have been gyrating lately because of uncertainty over how long the Iran war will keep the Strait of Hormuz effectively closed, preventing oil tankers from delivering crude. Japan, for instance, imports just about all its oil, much of it previously through the strait.

The price for a barrel of Brent crude oil, the international standard was trading at about $70 before the war. It fell after President Donald Trump said in a social media post that he was holding off on a military strike on Iran planned for Tuesday because “serious negotiations” are underway to end the war.

In the bond market, the yield on the 10-year Treasury rose as high as 4.63% before falling back to 4.59%, where it was late Friday.

Delta Air Lines finished essentially flat after swinging up and down through the day because of oil prices. It got an early boost following news that Berkshire Hathaway had bought more than $2.6 billion of the airline’s stock. Berkshire Hathaway built a reputation as a value investor able to buy stocks at low prices under its former leader, Warren Buffett.

Investors are watching for Nvidia’s latest quarterly results, due Wednesday. The chip company has routinely blown past analysts’ expectations each quarter while forecasting more growth. Target, Home Depot and Walmart also report results this week.

In currency trading, the U.S. dollar rose to 158.96 Japanese yen from 158.84 yen. The euro cost $1.1643, down from $1.1657.

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AP Business Writer Stan Choe contributed to this report.

Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama

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Florida mother turns to digital couponing as grocery bill soars

Florida mother turns to digital couponing as grocery bill soars 150 150 admin

With inflation hitting its highest point since 2023, Kiana Powell told CBS News, “I cannot let a deal go to waste if it’s something that I am using daily.”
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5/17: Sunday Morning "By Design"

5/17: Sunday Morning "By Design" 150 150 admin

Pay for American workers is lagging inflation — again

Pay for American workers is lagging inflation — again 150 150 admin

U.S. wage growth is lagging inflation for the first time since 2023, eroding consumers’ purchasing power.
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Redistricting debate shifts to South Carolina

Redistricting debate shifts to South Carolina 150 150 admin

COLUMBIA, S.C. (AP) — An effort to reshape South Carolina’s congressional districts will get its first full airing Monday in the state House, as lawmakers launch a lengthy and potentially testy discussion on whether to accede to President Donald Trump’s desires for a U.S. House map that could yield a clean sweep for Republicans.

Tense debates already have played out in Tennessee, Alabama and Louisiana as Republicans push aggressively to leverage a recent U.S. Supreme Court ruling on race based gerrymandering. The ruling has opened the way for Republicans to redraw districts with large Black populations that critics charge were designed to make sure Democrats were elected.

In South Carolina, that means targeting a seat long held by U.S. Rep. Jim Clyburn, the only Democrat among the state’s seven representatives in the House.

Clyburn has said he has no intention of retiring, even if his district gets changed. He told reporters last week in Washington that he has addresses in Columbia, Charleston and Santee, adding: “I live in three districts. I’ll decide which one to run in.”

Early voting is scheduled to begin May 26 for South Carolina’s statewide primaries on June 9. In addition to redrawing congressional districts, legislation pending in the state House would move the U.S. House primaries to August. If it clears the House, the legislation then must go to the Senate.

Republican Gov. Henry McMaster, who called lawmakers into a special session on redistricting, said it is important for South Carolina to send as many Republicans to Washington as possible to try to prevent Democrats from taking control of the House and attempting to impeach Trump.

Republicans are ahead in the national redistricting battle thus far. Since Trump agreed with Texas Republicans efforts to redistrict last year, Republicans think they could gain as many as 15 seats from new House maps in Texas, Missouri, North Carolina, Ohio, Florida, Tennessee and Alabama. Democrats, meanwhile, think they could gain six seats from new maps in California and Utah. But litigation is ongoing in some states, and voters will have the final say on who wins.

In addition, the courts have struck down Virginia’s effort to redistrict. A move that likely would have gotten rid of 4 Republican districts.

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Kyle Su’s Kuark Capital launches $400 million Asia tech-focused hedge fund

Kyle Su’s Kuark Capital launches $400 million Asia tech-focused hedge fund 150 150 admin

By Summer Zhen

HONG KONG, May 19 (Reuters) – A Hong Kong-based fund manager is launching a new hedge fund to tap rising investor interest in Asian artificial intelligence stocks, with a focus on Taiwan and Japan, three sources familiar with the matter said.

Kuark Capital, led by Taiwanese Kyle Su, has secured at least $400 million before launching the hedge fund, said one of the three sources, all of whom declined to be named as they were not authorised to speak to the media.

Su did not respond to requests for comment.

The hedge fund’s debut comes as a sharp tech stock rally in Asia, from China to South Korea, has spurred investors to seek more exposure to AI firms in the region.

Investor interest has been fuelled by the region’s central role in the AI supply chain, from chip making to packaging and materials. Global asset allocators are also looking at undervalued opportunities to enhance their returns.

Asia equity long-short funds on average posted a 10% gain in the first four months of this year, outperforming other regions and outpacing a 5.2% average gain globally, according to Morgan Stanley prime brokerage data.

The concentration of semiconductor stocks in the Asia-focused long-short funds contributed to the performance, the data showed.

Kuark Capital plans to adopt a low-net-equity long-short strategy, meaning it will look for both bullish and bearish stock ideas while keeping overall market exposure limited.

Market participants said low-net strategies have gained traction in recent years, as they require fund managers to protect downside risks amid increased volatility in global markets.

Su previously managed a roughly $1 billion equity portfolio at Kadensa Capital for about nine years, according to a Kuark investor presentation seen by Reuters.

Kadensa Capital is a Hong Kong-based hedge fund focused on Asian investments.

Kuark’s presentation said its strong local networks in Taiwan and Japan, along with Su’s engineering background, give it an edge in uncovering investment ideas across the region.

Kuark has hired Hiro Ikeda, a Japanese-Taiwanese veteran investor with experience at Optimas Capital, Fidelity and T. Rowe Price, as director of research. Ikeda also did not respond to requests for comment.

Ikeda managed a low-net mandate for Optimas Capital – which received an allocation from New York-based hedge fund Millennium Management last year – in Hong Kong for four years, according to Kuark’s presentation.

(Reporting by Summer Zhen; Editing by Sumeet Chatterjee and Thomas Derpinghaus)

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Hungary’s Magyar kicks off his first foreign trip as prime minister to ally Poland

Hungary’s Magyar kicks off his first foreign trip as prime minister to ally Poland 150 150 admin

BUDAPEST, Hungary (AP) — Hungary’s new prime minister headed on Tuesday to Poland, a longtime ally whose recent political transformation has plenty of lessons to offer on how Péter Magyar’s government can go about reversing his country’s authoritarian drift.

Magyar, whose center-right Tisza party defeated far-right Prime Minister Viktor Orbán and his nationalist-populist Fidesz in an earthquake election last month, has vowed to dismantle the political and economic system his autocratic predecessor spent 16 years building.

That has raised hopes across Europe, and also drawn comparisons to Poland’s 2023 election when Prime Minister Donald Tusk’s center-right coalition defeated the national-conservative Law and Justice party after eight years in power.

Like Magyar, Tusk moved quickly to restore democratic institutions eroded during the previous government, including the judiciary and public media, while seeking accountability for officials accused of abuses of power.

Magyar is flying to the southern Polish city of Krakow on Tuesday, before proceeding by train to the capital of Warsaw and then on to Gdansk, on the Baltic Sea.

After taking office on May 9, Magyar called openly for many officials appointed by Orbán’s government to step down or be removed by constitutional amendment — a power available to him after Tisza won a two-thirds majority in Parliament.

Magyar has targeted Hungary’s President Tamás Sulyok, a mostly ceremonial role but with some key constitutional powers, as well as the country’s attorney general and the heads of the constitutional and supreme courts — all figures he’s decried as “Orbán’s puppets.”

Andrzej Sadecki, an analyst with the Center for Eastern Studies in Warsaw, told The Associated Press that Magyar’s biggest challenge is that “some key state institutions are still in the hands of people nominated by Fidesz.”

Still, unlike in Poland, “the situation is much easier for Magyar because he has a constitutional majority. This makes it much easier for him to introduce deep changes,” Sadecki said.

While Tusk took power through a coalition government in Poland’s 2023 election, Magyar’s Tisza won 53% of the vote, gaining more votes and seats in Parliament than any other party in Hungary’s post-Communist history.

“It’s not just a change of government, it’s a watershed moment,” Sadecki added.

Orbán’s rule was marked by a sprawling media ecosystem, which for years served as a loyal mouthpiece for his Fidesz party while discrediting, defaming and intimidating his opponents.

Fresh from election victory, Magyar slammed public broadcasters under Orbán as “a factory of lies,” and said his government would suspend their news services until “the conditions for objectivity are restored.”

The approach mirrors steps taken by Tusk’s government, which less than a month after taking power revamped evening newscasts on state television. Poland’s new government argued its ownership of public media gave it the authority to replace executives at state outlets.

But the process drew criticism even by some liberal groups, with the Helsinki Foundation for Human Rights in Warsaw saying at the time that “the manner of initiating changes in public media raises serious legal doubts.”

Still, József Péter Martin, executive director of Transparency International Hungary, said the degree to which Hungary’s public media had failed to fulfill its role means that “it should be rebuilt, and it can be done within the framework of the rule of law.”

During its years in power, Poland’s Law and Justice party tightened control over the courts by appointing loyalist judges to higher courts and punishing critics with disciplinary action.

It also installed enough sympathetic judges to the Constitutional Tribunal to delay any bills the party deemed unfavorable by referring them for constitutional review. Tusk government efforts to reverse those changes have repeatedly been blocked by two subsequent Law and Justice-sympathetic Polish presidents.

While progress was made in some areas, judicial independence has not been fully restored in Poland, and Magyar’s government could face similar challenges.

Despite Magyar’s calls for him to resign, President Tamás Sulyok — an Orbán ally whose term expires in 2029 — has indicated he does not intend to step down.

Also, the head of Hungary’s Constitutional Court, Péter Polt, widely regarded as a Fidesz loyalist, is to remain in office until 2037.

Though many Hungarian judges and prosecutors faithfully carry out their duties, judicial leadership — including the heads of the constitutional and supreme courts — should be replaced to restore trust and impartiality, said Martin of Transparency International Hungary.

And “not with (Magyar’s) Tisza loyalists, because then we would go from one problem to the other, but with someone who has full integrity and devotion to the Hungarian constitution and to the public interest, and not to the interest of the former autocratic regime,” Martin said.

Even without fully restoring judicial independence, Polish prosecutors have opened investigations and pursued cases against former Law and Justice officials they accuse of abusing their positions to benefit their political allies.

In October, Polish prosecutors announced plans to charge former Justice Minister Zbigniew Ziobro with diverting money from a Justice Ministry fund intended for victims of violence and using it for his own personal and political gain.

Prosecution of Ziobro, however, stalled when he announced in January that he had been granted asylum in Orbán’s Hungary. Since Magyar’s election win, Ziobro has said he is now in the United States, with Polish authorities seeking his return.

Many of the nearly 3.4 million Hungarians that voted for Tisza expect the new government to hold Orbán and his political and economic allies accountable.

Magyar has pledged to create the National Asset Recovery and Protection Office, an authority tasked with investigating and seeking to recover public funds allegedly misused during Orbán’s tenure.

According to Martin, restoring the rule of law and judicial independence would be “the initial and most essential step” toward ensuring past abuses will be prosecuted.

Hungary joining the European Public Prosecutor’s Office, something Magyar has promised to do, would be a step in the right direction, he added.

“If all this is done, then I think there is a good chance that the corrupt perpetrators of the former regime, under an independent judiciary, can be held accountable,” he said.

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Ciobanu reported from Warsaw, Poland.

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