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Argentines to vote in a primary election that's expected to set the stage for a rightward shift
Argentines to vote in a primary election that's expected to set the stage for a rightward shift
Argentina's national primary election Sunday won’t just help determine which candidates will be running in the country's October presidential vote, but could impact the economy even before then. A strong showing by the opposition coalition would be cheered by markets in an election that will also test the national appeal of an eccentric right-wing anti-establishment candidate who is an admirer of former President Donald Trump. The primary is seen as a thermometer of voter preference ahead of the Oct. 6 election, which is expected to shift Argentina to the right with the current left-leaning government bottoming out in the polls amid rising poverty, a rapidly depreciating currency and galloping annual inflation that tops 100%. Sunday’s primary officially serves two purposes: determine the candidates that will run in the October election and weed out any candidates who don’t receive at least 1.5% of the vote. But it also serves as a massive, nationwide opinion poll in a country where pre-election polls have been notoriously wrong in the past. The primary can have an economic impact. Four years ago, an unexpectedly strong showing by now-President Alberto Fernández led to a sharp depreciation of the currency as markets saw the primary results indicating that business-friendly President Mauricio Macri was on his way out. The local currency, the Argentine peso, has seen its value plunge in parallel markets ahead of Sunday’s vote. Stringent capital controls mean that access to the official foreign exchange market is extremely limited, so parallel rates have flourished. Economists will be watching to see signs that the main center-right opposition could win the presidential election outright and avoid a second round runoff in November. “There is enthusiasm, especially outside of Argentina, about a profound regime change, but without going to the opposite extreme,” said Mariano Machado, principal analyst for the Americas at Verisk Maplecroft, a global risk intelligence firm. The wildcard of the race is upstart populist candidate Javier Milei, who has gained popularity thanks to his angry screeds against the ruling class and has found followers among those who are tired of politics as usual. His unorthodox proposals that include dollarizing the economy and getting rid of the Central Bank have found particular backing among the young. “We’re fed up with the status quo, with the same old thing, with the same last names that are on the ballot, we want to change things up a bit, and give an opportunity to someone who nobody knows if he will do well, but we’re going to give him a chance,” Efraín Viveros, a 20-year-old nursing student said Monday at Milei’s closing campaign rally in Buenos Aires. A strong showing for the main center-right coalition could buoy the market, but a stronger-than-expected showing for Milei would likely send the local currency, the peso, tumbling and cause general disarray in the markets due to uncertainty over his policies. The main presidential contenders all represent a rightward shift away from Fernández, who is not seeking reelection and has been largely absent from the campaign. Also largely absent has been his vice president, Cristina Fernández, who was the country’s president from 2007 to 2015. In the currently ruling coalition, Union for the Homeland, there is little doubt that Economy Minister Sergio Massa, a market-friendly politician, will receive the nomination although he is facing a challenge from a leftist candidate, Juan Grabois. A key contest Sunday will play out in the center-right United for Change opposition coalition with Buenos Aires Mayor Horacio Rodríguez Larreta facing off against former Security Minister Patricia Bullrich to determine who will be its candidate. Pollsters say the winner of this race will have a strong chance of becoming president. Regardless of who comes out on top, analysts will be watching closely whether a strong showing by the opposition could suggest an outright victory in October without a runoff. “While we expect a volatile political transition given macroeconomic woes, the (primaries) outcome could improve market sentiment, supported by a likely policy shift next year,” said the Institute of International Finance, a Washington-based association of the financial services industry, in a recent report. Milei was the only major candidate who held his final campaign rally. Other called off what were supposed to be their final events before the vote following the killing of an 11-year-old girl during a snatch-and-grab robbery Wednesday. The death of Morena Domínguez in an attack by two motorcycle-riding thieves in the Buenos Aires province district of Lanús, left the country reeling and put crime at the forefront of a campaign that had been dominated by economic issues. Also likely to impact the final days before the vote was the Thursday death of a leftist political activist, who suffered a heart attack while being detained by police during a protest in downtown Buenos Aires. Besides presidential voting in October, about half of Argentina’s lower house of Congress and one-third of the Senate will be up for grabs. Voting is mandatory in Argentina but the fine for failing to cast a ballot is largely symbolic. Recent national elections have seen a participation rate of around 70%. ——— Associated Press journalists Débora Rey and Almudena Calatrava contributed to this report. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide They lost everything in the Paradise fire. Now they're reliving their grief as fires rage in Hawaii Doctors in England walk off job again as pay dispute with UK government shows no progress Italy gets back 266 antiquities from New York seizures and Houston museum
1970-01-01 08:00
Lesser-Known Treasury Yield Is on Brink of Historic Breakthrough
Lesser-Known Treasury Yield Is on Brink of Historic Breakthrough
Short-term Treasury yields once again advancing toward 5% hog the spotlight, but there’s another drama unfolding in a
1970-01-01 08:00
Argentine Election Won’t Derail Shale Growth, Oil Executives Say
Argentine Election Won’t Derail Shale Growth, Oil Executives Say
Argentina’s burgeoning shale oil and gas industry will be shielded from any violent swings in politics and policymaking
1970-01-01 08:00
Prosecutor in Hunter Biden case is given special counsel status by attorney general
Prosecutor in Hunter Biden case is given special counsel status by attorney general
Attorney General Merrick Garland announced that he granted the US attorney investigating President Joe Biden’s son Hunter Biden special counsel status. Mr Garland announced that David Weiss, who has served as the US Attorney for Delaware since 2018, would serve as special counsel and he had informed relevant members of Congress about the nomination. The move is a shift from July when Mr Weiss informed Congress that he had not requested special counsel designation for his investigation into the president’s son. But on Tuesday, Mr Weiss requested such status. “I have concluded that it is in the public interest to appoint him as special counsel,” Mr Garland said on Friday. “This appointment confirms my commitment to provide Mr. Weiss all the resources he request.” Mr Weiss had previously been investigating Hunter Biden since 2019. Mr Garland and the Department of Justice allowed Mr Weiss to stay on board as US attorney when Mr Biden took office in 2021 to continue his investigation of Mr Biden. In July, Mr Biden looked set to enter into a plea deal for unpaid taxes and lying on a federal application for a firearm. Republicans, including former president Donald Trump, had decried the agreement as a sweetheart deal. Many Republicans argued that the younger Mr Biden received preferential treatment because he is the president’s son despite the fact that Mr Trump nominated Mr Weiss and Republicans in the Senate voted to confirm him in 2018. Then in late July, Mr Biden pleaded not guilty to two of the charges after the presiding judge questioned whether the deal would prohibit the federal government from prosecuting him for other crimes he might have committed in the future. The White House referred to remarks from Mr Garland and the Justice Department when asked by The Independent. Mr Garland said that Mr Weiss’s office would not be subjected to day-to-day supervision but would have to comply with regulations, procedures and policies of the Justice Department. Mr Weiss would also be mandated to write a report of his investigation once it concludes. “ As with each special counsel who has served since I have taken office, I am committed to making as much of his report public as possible, consistent with legal requirements and department policy,” he said. “Today's announcement affords the prosecutors agents and analysts working on this matter, the ability to proceed with our work expeditiously and to make decisions indisputably guided only by the facts and the law.” Mr Garland’s announcement comes the same day that former president Donald Trump’s legal team appeared in court in Washington, DC and earned a win as US District Judge Tanya Chutkan ruled that a protective order against Mr Trump would only apply to sensitive material such as jury transcripts, witness interview records and other documents. Mr Trump faces charges for his attempts to overturn the 2020 presidential election after a federal grand jury indicted him in response to a presentation from Special Counsel Jack Smith’s office. Mr Garland nominated Mr Smith to investigate Mr Smith to investigate Mr Trump. In addition, the attorney nominated Robert Hur to investigate classified documents found in locations associated with President Biden earlier this year. Read More Hunter Biden’s plea deal appears at risk of falling apart. What happens next? Hunter Biden pleads not guilty to two tax charges after court chaos around deal with prosecutors Attorney General Garland will appoint special counsel in Hunter Biden probe Utah man killed after threats against Biden believed government was corrupt and overreaching Utah man suspected of threatening President Joe Biden shot and killed as FBI served warrant
1970-01-01 08:00
Yellen Pitches Biden’s Economic Strategy, Citing Real Wage Gains
Yellen Pitches Biden’s Economic Strategy, Citing Real Wage Gains
Treasury Secretary Janet Yellen will next week advance the growing effort among administration officials looking to convince voters
1970-01-01 08:00
MLB standings based on record since the All-Star break: Dodgers roll, Braves falter
MLB standings based on record since the All-Star break: Dodgers roll, Braves falter
MLB standings since the All-Star break have set the stage for the most important stretch of the season. Who is taking their chance and who has missed it?We're about a third of the way through the second half of the MLB season and rolling towards a dramatic September finish.With the All-...
1970-01-01 08:00
US attorney leading Hunter Biden probe is now a special counsel, Garland announces
US attorney leading Hunter Biden probe is now a special counsel, Garland announces
Attorney General Merrick Garland announced Friday that the Trump-appointed US attorney who is investigating Hunter Biden has been given "special counsel" status.
1970-01-01 08:00
PayPal’s Stablecoin Debut Faces Headwinds, Bank of America Says
PayPal’s Stablecoin Debut Faces Headwinds, Bank of America Says
PayPal Holdings Inc.’s rolling out of a stablecoin will drive payments efficiencies and improve customer experience even though
1970-01-01 08:00
Yellow Sees Even More Interest From Lenders for Bankruptcy Financing
Yellow Sees Even More Interest From Lenders for Bankruptcy Financing
Yellow Corp. has drawn additional interest from potential financiers who are offering alternative bankruptcy financing for the short-haul
1970-01-01 08:00
Teen accused of fatally stabbing O’Shae Sibley pleads not guilty to murder as a hate crime
Teen accused of fatally stabbing O’Shae Sibley pleads not guilty to murder as a hate crime
The 17-year-old boy charged with stabbing O’Shae Sibley to death at a gas station in Brooklyn has pleaded not guilty at his arraignment. Dmitriy Popov was previously indicted by a grand jury on murder in the second degree as a hate crime, among other charges. Mr Popov’s next court date is set for October, ABC 7 reported, adding that the teen faces a minimum of 20 years in jail and a maximum of 25 years to life. The outlet reported that Brooklyn District Attorney Eric Gonzalez underscored the importance of prosecuting this incident as a hate crime. “Many powerful people across this country have talked about this case and have been concerned that justice prevails,” said Mr Gonzalez. “I’m assuring the community that we are taking this case very seriously, that we’re going to make sure that justice prevails.” The 17-year-old is accused of killing Sibley, a gay 28-year-old professional dancer, who, reportedly just after 11pm on 29 July, was dancing to a Beyonce song with a friend at a Mobil gas station in Brooklyn. That’s when a separate group of young men allegedly began hurling homophobic insults saying that they didn’t like “gay dancing” in their neighbourhood, according to eyewitnesses. Sibley suffered “a stab wound to the torso. EMS responded and removed the victim to Maimonides Medical Center, where he was pronounced deceased,” a spokesperson for NYPD said. Mr Popov’s lawyer Mark Pollard previously told The Independent that his client was a “good Christian boy” who regularly attended church. “I have no idea where that came from. I just know he’s not Muslim. It’s very strange,” Mr Pollard told The Independent. The teenage suspect turned himself in to authorities after a week of trying to bring him in, although he was easily identified through video footage. “This is a city where you are free to express yourself, and that expression should never end with any form of violence,” Mayor Eric Adams said at a press conference last week. Read More 17-year-old suspect in the New York stabbing of a dancer is indicted on a hate-crime murder charge O’Shae Sibley was stabbed to death for the crime of being ‘Black, gay and dancing’ Teen accused of stabbing O’Shae Sibley in homophobic attack is a ‘good Christian boy’, lawyer says
1970-01-01 08:00
Trump gets a win in 2020 election case protective order battle as judge rules he can share some evidence
Trump gets a win in 2020 election case protective order battle as judge rules he can share some evidence
Donald Trump notched a win in the fight over a protective order in the 2020 election case as the judge ruled that some of the evidence that will be provided to him in the pre-trial discovery process won’t be restricted from dissemination if it’s not deemed “sensitive” by the government. US District Judge Tanya Chutkan on Friday that the protective order will only apply to sensitive materials such as grand jury transcripts, witness interview records, and other documents that could identify witnesses or be used to poison the pool of potential jurors who will be responsible for deciding the ex-president’s fate when he goes on trial next year. Special Counsel Jack Smith’s office had asked her to impose a more restrictive order which would have applied to any and all materials provided to Mr Trump’s defence team in discovery, while Mr Trump’s attorneys had asked for her to allow the former president leave to talk about non-sensitive materials, citing his ongoing campaign for the Republican nomination in next year’s presidential election. Prosecutors had made the request for a broad protective order with the aim of preventing Mr Trump from poisoning the jury pool ahead of his expected trial next year, citing statements by the ex-president’s legal team which they said indicated a desire to try the case “in the press”. But Judge Chutkan, a former defence attorney and a nine-year veteran of the federal bench who was nominated by then-president Barack Obama and confirmed by a unanimous Senate vote in 2014, rejected the prosecution’s preferred language on the grounds that Mr Trump’s conduct with regard to the non-sensitive discovery is still governed by his release conditions and the rules of the court. More follows...
1970-01-01 08:00
Alabama Senator Tommy Tuberville no longer owns property in the state he represents, report says
Alabama Senator Tommy Tuberville no longer owns property in the state he represents, report says
Alabama Republican SenatorTommy Tuberville no longer possesses any property in the state he represents, according to a report. The Washington Post reported that the lawmaker has sold the last of his properties in Alabama – Tiger Farms LLC, which sits in Macon and Tallapoosa counties just outside of Auburn – for just over $1m. Property records show that he has owned a $3m home in Santa Rosa Beach, Florida, for around 20 years. He also owns a condo in Washington that he and his wife purchased for $750,000 in 2021. The former Auburn University head coach recently sold one Florida condo for $850,000 and bought another for $825,000, the Post reported. The Independent has reached out to Mr Tuberville’s office for comment. Mr Tuberville’s office maintained to the Post that the senator’s primary residence is a home in Auburn. “Coach has purchased and invested in real estate for decades,” Mr Tuberville’s communications director told the outlet. “Coach has owned the property in Santa Rosa Beach for two decades – he bought it while he was coaching at Auburn. He goes there upon occasion if he has a free weekend. It is within driving distance of Auburn. I’m sure many senators have vacation homes.” The spokesperson said that the senator purchased his current Auburn residence for his son when his son was a student at Auburn. “After his son graduated, he moved out. After Coach retired from coaching, Coach moved into the Auburn house.” Despite this claim, the Tubervilles actually bought the house nine months after his son Tucker graduated from Auburn University in 2016, according to his LinkedIn profile. When Mr Tuberville served as the head coach of University of Cincinnati’s football team from 2013 through 2016, Tucker then worked for his father at the school from May through December 2016 after he graduated. Tuberville’s other son, Troy, did not start at Auburn until 2018 and graduated in 2021. After being presented with these details, Mr Tuberville’s communications director backtracked and told the Post that the house was purchased after Tucker graduated from college: “His son lived at the Auburn house briefly and then Coach moved there afterward.” “The Auburn property is his primary residence — although his job requires him to be in Washington four days a week when the Senate is in session,” the communications director added. Under the US constitution, a senator must live in the state they are elected to serve. “No Person shall be a Senator…who shall not, when elected, be an Inhabitant of that State for which he shall be chosen,” it states. Mr Tuberville isn’t the only member of Congress to face questions around their residency. Arizona Democratic Rep Ruben Gallego was under fire earlier this year after Politico exposed that he claimed both his DC property and his Arizona property as his primary residence. Similarly, Rep Ryan Zinke, the former Trump administration interior secretary, fell under scrutiny when he ran for congress in Montana in 2022 and his wife put her primary residence as California. Read More GOP senator holding up military promotions claims Ukraine ‘can’t win’ in war with Russia Pentagon warns of disruptions as Army, Marines both lack confirmed leaders for first time Manchin, Tuberville introduce college sports bill to standardize NIL rules, regulate collectives Pentagon warns of disruptions as Army, Marines both lack confirmed leaders for first time Who are Trump’s six alleged co-conspirators in the 2020 election probe case? Biden rejects Trump decision to move Space Force from Colorado to Alabama
1970-01-01 08:00
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