Oslo traffic jam. Photo: Håkon Mosvold Larsen / Scanpix A report that Norwegian politicians agreed to ban the sale of diesel and petrol-powered cars by 2025 quickly flew around the world, but it is “not correct”. At least not yet. When Dagens Næringsliv (DN) reported on Friday that the government coalition and its two support parties had reached a deal to stop the sale of petrol and diesel vehicles in 2025, the news was spread to a number of US media outlets thanks in large part to an enthusiastic tweet from Tesla CEO Elon Musk: "Just heard that Norway will ban new sales of fuel cars in 2025. What an amazingly awesome country. You guys rock!!" Musk wrote. But as outlets including CNBC, The Independent and Gizmodo wrote up their reports, the political agreement crumbled before it ever really took hold. Although DN quoted Liberal spokesman Ola Elvestuen as saying “there will only be sales of zero-emissions vehicles in 2025), a press release from … [Read more...] about No, Norway isn’t banning diesel and petrol cars – yet
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Democracy Dies in Darkness Sections Home Subscribe Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Courts & Law by Robert Barnes by Robert Barnes Email the author April 17 at 2:23 PM Email the author A divided Supreme Court ruled Tuesday that part of a federal law used to deport noncitizens who commit felonies is unconstitutionally vague, with new Justice Neil M. Gorsuch joining the court’s liberal members in striking the statute. The 5-to-4 decision could limit the government’s ability to deport those with criminal records, something that President Trump has identified as a priority. Justice Elena Kagan wrote that the part of the Immigration and Nationality Act in question was so “fuzzy” … [Read more...] about Divided Supreme Court says part of immigration law used for deportation too vague
THE TICKER Chinese President Xi Jinping is displayed on a big screen as he delivers a speech at the closing session of the annual National People's Congress in March. (AP Photo/Ng Han Guan) The Trump trade mission to Beijing wraps up today without any concrete progress. The Trump administration is asking the Chinese to reduce the trade deficit with the U.S.— which stood at $375 billion last year — by $200 billion by 2020. And they want the Chinese to curb subsidies to key emerging industries, liberalize market access, and equalize their tariffs, among other demands. Beijing calls the requests "unfair." The two sides agreed to keep talking. Xinhua News Agency said in a statement they agreed to set up a "working mechanism" to enable ongoing communications. (The brief comment earlier from Treasury Secretary Steven Mnuchin: "We’re having very good conversations.") So there will be no quick resolution as both of the world’s … [Read more...] about The Finance 202: Beijing trade talks conclude with no progress. Get ready for a long slog.
By her early 20s, Maria Butina appeared to have a budding political career and a mini furniture empire in her remote Siberian hometown. Then she abandoned both to pursue her passion for gun rights — and, prosecutors say, to acting as an unregistered foreign agent in the United States. Butina, 29, faces a hearing Wednesday in Washington on accusations she worked as a foreign agent, representing a new generation of Russian operatives seeking a long-term U.S. foothold. Her lawyer says she did nothing wrong. "It's psychosis. A witch hunt," her father, Valery Butin, was quoted as saying Wednesday by the Altapress website in her hometown of Barnaul. U.S. prosecutors suggest Butina used her gun-lobbying efforts to infiltrate the NRA and the Republican Party, both during the 2016 presidential campaign and after Donald Trump's election. President Trump and Russian President Vladimir Putin met in a highly anticipated and much scrutinized face-to-face on Monday. (Published Monday, July … [Read more...] about Maria Butina: From Siberian Gun Lover to Allegedly Infiltrating the NRA, GOP
NEW YORK — U.S. stocks are sinking Friday as investors continue to worry about rising bond yields and interest rates. The Labor Department said the economy continues to add jobs at a strong pace, which makes it more likely rates will keep rising. The yield on the 10-year Treasury note has soared over the last three days and hasn't been this high since mid-2011. Bond prices are falling as investors sell them, but Wall Street is also concerned that spiking interest rates could eventually slow the economy. KEEPING SCORE: The S&P 500 index lost 21 points, or 0.8 percent, to 2,879 as of 2 p.m. Eastern time. The Dow Jones Industrial Average inched slid 236 points, or 0.9 percent, to 26,390. Technology and internet companies and smaller, more U.S.-focused companies continued to suffer steep losses. The Nasdaq composite skidded 117 points, or 1.5 percent, to 7,762 as technology and internet companies continued to struggle. The Russell 2000 index lost 20 points, or 1.2 percent, to … [Read more...] about Stocks sink again as job gains send bond yields even higher