Politics
Political news that affects economic policies and markets.
Outgoing President Joe Biden has delivered his final interview of his term, sitting down in the Oval Office with MSNBC‘s Lawrence O’Donnell. Biden reflected on his accomplishments during his time in office, including this week’s Gaza ceasefire deal. He also acknowledged his political failings in light of low approval ratings as he leaves the top job on Monday. “Ironically, I almost spent too much time on the policy and not enough time on the politics”, the 82-year-old said. Expressing regrets about not putting his name on COVID stimulus checks that were issued in the early months of his term, while Donald Trump did, Biden said that while it did cross his mind he was “not a very good huckster." “It helped him [Trump] a lot…and it undermined our ability to convince people that we were the ones that were getting this to them,' Biden added. Earlier in the week Biden also warned of an “oligarchy is taking shape in America,” during his farewell speech and reiterated his concern for “how fragile democracy is.” Speaking to O’Donnell he elaborated, saying he was concerned Americans would be left without a champion fighting for them. “Look if the decision is made that the multibillionaires, the super, supe
Mark Carney has announced his run for leader of Canada's governing Liberal Party. On Thursday local time, Carney, a former Bank of Canada and Bank of England governor, formally launched his bid in his hometown of Edmonton, Alberta. Standing against a large Canadian flag as a backdrop Carney said he was making his bid "because Canada is the best country in the world, but it could still be even better". If successful, he will take over from Prime Minister Justin Trudeau ahead of the next general election, set to take place later this year. Earlier this month, Trudeau announced his intent to resign after nine years in office but only once a new Liberal leader was selected. While he has recently served as an economic advisor to Trudeau, Mr Carney is the only candidate in the Liberal Party's leadership race who is not an elected member of Trudeau's government.
The official portraits United States President-elect Donald Trump and Vice President-elect JD Vance have been released, just days before their inauguration. Both of the strongly lit portraits depict the duo wearing blue suits over white collared shirts and blue ties, with Trump displaying an American flag pin on his lapel. The new images were taken by Mr Trump’s chief photographer Daniel Torok and shared by his transition team, with Torok writing on X: “We are entering the GOLDEN AGE OF AMERICA!”. The pose and framing of Trump's portrait hails back to his 2023 mugshot, with multiple news outlets reporting the similarities between the two photos.Credit: Fulton County Sheriffs OfficeThis seemingly play off of the image when he was indicted for election racketeering in Georgia is a sharp contrast to his 2017 official portrait which was all broad smiles.
Submarine deliveries to Australia under the AUKUS pact could be delayed, according to the United States Congress’ 2025 budget analysis. Australia is due to receive at least three Virginia class submarines from the U.S. under AUKUS, with the U.S. supplementing its fleet with new Columbia class vessels. However, U.S. submarine production has fallen behind. "The U.S. submarine industrial base is struggling to meet the Navy’s current demand for submarines,” said a Congressional Budget Office report. "It would be very difficult and expensive for the U.S. submarine industry to increase production of attack submarines while also building 1 Columbia class ship per year.” Columbia class submarines are around 2.5 times the size of Virginia class vessels, and are significantly more difficult to build as a result. Costs to produce Columbia class ships could surpass the U.S. Navy and Congressional Budget Office’s previous estimates, the report said. The U.S. aims to buy two Virginia class ships each year, according to the U.S. Navy’s 2025 shipbuilding plan, but this would only be sufficient to maintain the U.S.’ target number of submarines. “This congressional budget office report states a hard truth, that any submarines the
United States President Joe Biden has delivered his farewell address today, as he wraps up his time in the White House. The speech was used as an opportunity to issue serious warnings and concerns about the future of the nation and call for constitutional changes. His term ends Monday, when he'll be replaced by president-elect Donald Trump, a man he has previously called an “existential threat” to the U.S. In his speech Biden stated that “an oligarchy is taking shape in America” as he criticised the “tech industrial complex" and social media, where “the truth is smothered by lies told for power and for profit.” He then called for an amendment to the U.S. Constitution “to make clear that no president is immune from crimes that he or she commits while in office.” Four criminal indictments against President Elect Donald Trump were dropped following the November election results due to a long-standing Justice Department policy against prosecuting a sitting president. He also urged the nation to continue facing climate change, and not to be “bullied into sacrificing the future." Biden chose to speak from the Oval Office, while first lady Dr Jill Biden, son Hunter and other family members sat in the offic
