Musk takes reins of US Treasury payments, sparking alarm

Elon Musk and his aides have taken control of the US Treasury Department’s payments system — which manages trillions of dollars of transactions each year — sparking alarm among critics.Musk, the world’s richest person, is leading President Donald Trump’s federal cost-cutting efforts under the so-called Department of Government Efficiency (DOGE).”The only way to stop fraud and waste of taxpayer money is to follow the payment flows and pause suspicious transactions for review,” Musk said Monday in a post on X, the platform he owns.”Naturally, this causes those who have been aiding, abetting, and receiving fraudulent payments to become very upset. Too bad,” he added.The Treasury’s closely guarded payments system handles the money flow of the US government, including $6 trillion annually for Social Security, Medicare, federal salaries, and other critical payments.Musk’s control of the payments system was approved by incoming Treasury Secretary Scott Bessent and was made possible when a career official was put on administrative leave Friday after refusing to hand over access, The Washington Post first reported.The official subsequently retired from the department, a source close to the matter told AFP.Trump on Sunday praised Musk as “a big cost-cutter.””Sometimes we won’t agree with it and we’ll not go where he wants to go. But I think he’s doing a great job,” the president added.Wired magazine reported that Musk has placed young surrogates working for DOGE into key government positions, with his team gaining unprecedented access to the payment systems typically restricted to career employees.The staff members, reportedly aged between 19 and 24, were also placed at the federal Office of Personnel Management, the human resources department for federal workers. Last week, the office sent an email offering most employees the option to leave government service immediately with approximately nine months’ severance pay, though many legal experts warned staff to be wary of the offer.Democratic lawmakers are expressing deep concerns about political operators having access to the US government’s money flow, saying it amounts to an illegal power grab.”They are seizing the tools you need for a coup,” said Senator Ron Wyden, the top Democrat on the Senate Finance Committee.Elizabeth Warren, the ranking Democrat on the Senate Banking Committee, blasted the move as “extraordinarily dangerous” and said it posed a systemic risk to the economy.”I am alarmed that as one of your first acts as secretary, you appear to have handed over a highly sensitive system responsible for millions of Americans’ private data — and a key function of government — to an unelected billionaire and an unknown number of his unqualified flunkies,” Warren wrote in a letter to Bessent.She also said sidelining experienced staff in this crucial corner of government “puts the country at greater risk of defaulting on our debt, which could trigger a global financial crisis.”On X, Musk predicted “Excitement guaranteed” in response to a post that said DOGE would uncover an “unprecedented amount of fraud and corruption in numerous government departments.”

Wall Street se rétracte, craintes sur les conséquences des droits de douane

La Bourse de New York a terminé en baisse lundi en raison des craintes sur les conséquences économiques des droits de douane imposés par Washington mais a limité ses pertes grâce au sursis accordé au Mexique par Donald Trump avant la clôture du marché.Le Dow Jones a reculé de 0,28%, l’indice Nasdaq de 1,20% et l’indice élargi S&P 500 de 0,76%.A l’ouverture, “le marché semblait en bien plus mauvaise posture”, après l’annonce samedi par Donald Trump de droits de douane de 25% sur les produits provenant du Canada et du Mexique et d’une surtaxe de 10% sur les produits chinois, commente auprès de l’AFP Sam Stovall, de CFRA.Mais, “le fait que Trump ait décidé de laisser au Mexique un mois supplémentaire avant que les droits de douane ne commencent à s’appliquer” a quelque peu rassuré les investisseurs car cela montre que le président “est flexible” et que “les surtaxes sont plus un stratagème de négociation que des règles strictes”, ajoute l’analyste.Lundi, le président américain a finalement suspendu pour un mois l’application de ces droits de douane au Mexique, après un échange “amical” avec son homologue mexicaine au cours duquel celle-ci a promis de déployer 10.000 soldats supplémentaires à la frontière.Quelques heures plus tard, alors que la Bourse de New York avait déjà fermé, Washington a également suspendu l’imposition de droits de douane à l’encontre du Canada pour 30 jours, a annoncé le Premier ministre canadien Justin Trudeau après un appel avec Donald Trump.Avant cet entretien, le président américain a déclaré à la presse que des discussions entre les Etats-Unis et la Chine interviendraient “probablement dans les prochaines 24 heures”. Pékin a assuré qu’elle prendrait les “mesures correspondantes” pour protéger ses “droits et intérêts”.Dans ce contexte, sur le marché obligataire, le rendement des emprunts d’État américains à dix ans se tendait à 4,56%, contre 4,54% vendredi à la clôture.L’indice VIX – dit “indice de la peur” – qui mesure la nervosité des investisseurs, a évolué en nette hausse, prenant 13,33%.”Les groupes les plus exposés à l’international, c’est-à-dire les industriels, les producteurs de biens et services non essentiels, et dans une moindre mesure la technologie, seront probablement les plus touchés par les droits de douane”, souligne Sam Stovall.Le secteur automobile américain a été durement affecté, les investisseurs s’attendant à ce que les nouveaux droits de douanes minent sérieusement ces groupes qui possèdent de nombreuses usines au Mexique et au Canada.Ford a reculé de 1,88%, General Motors a chuté de 3,15% et Stellantis a dégringolé de 3,88%.Les transporteurs FedEx (-6,62%) et UPS (-2,57%) ont également souffert.Le distributeur d’alcool Constellation Brands a perdu pour sa part 3,53%, les investisseurs s’inquiétant de l’impact des droits de douane sur les importations des bières Corona et Modelo depuis le Mexique.Les capitalisations géantes du secteur technologique ont aussi pâti du pessimisme des acteurs de marché, à l’image de Nvidia (-2,84%), Apple (-3,39%), Tesla (-5,17%) ou Microsoft (-1,00%).

Stock markets sink on Trump tariffs

Stock markets slumped Monday over concerns about the global economy after US President Donald Trump announced tariffs on Canada, China and Mexico.Wall Street’s three main indices fell sharply in early trading but clawed back ground after Trump postponed the introduction of tariffs on Mexico for one month.Trump announced on Saturday 25 percent levies on imports from Canada and Mexico and 10 percent new duties on Chinese goods. Talks were still underway on Monday with Canada.The London, Paris and Frankfurt stock markets finished in the red as Trump warned over the weekend that the European Union would be next in the firing line and did not rule out tariffs against Britain.Shares in European automakers were hit particularly hard, with Volkswagen shedding 3.5 percent and Jeep maker Stellantis down more than 4.5 percent. VW makes some cars for the US market in Mexico, while Stellantis has factories in both Canada and Mexico.US auto stocks were also hammered, with Tesla losing 5.2 percent and General Motors 3.2 percent.Asian stock markets finished mostly in the red.”Investors fear that this trade war will result in a significant deterioration in the global economy,” said John Plassard, investment specialist at Swiss asset manager Mirabaud.There was also a sharp selloff across the cryptocurrency sector, with bitcoin slumping almost five percent before rebounding.Saturday’s tariff announcement “caught markets somewhat off guard, despite Trump’s prior hints”, said Daniela Sabin Hathorn, senior market analyst at brokerage Capital.com.”The lack of a clear economic rationale behind this decision — justified primarily as a measure to curb illegal immigration and fentanyl imports — has unsettled investors,” Sabin Hathorn said.The US dollar yo-yoed against major currencies, including the Mexican peso and Canadian dollar.Analysts warn that the tariffs could fuel inflation and drag down economic growth.Trump admitted that Americans may feel economic “pain” from his tariffs, but that it would be “worth the price.”China, Mexico and Canada are the top three US trade partners and have all vowed to retaliate if the tariffs go into effect. The tariffs are “considered a cost that will likely push prices higher and growth lower,” said Jack Ablin of Cresset capital, who noted Trump has threatened tariffs on other countries.”The market is adapting not just to more tariffs, but more headline risk,” he said.Trump’s tariff threats against Europe overshadowed a defence summit in Brussels on Monday.”If we are attacked in terms of trade, Europe — as a true power — will have to stand up for itself and therefore react,” French President Emmanuel Macron said as he arrived for the talks.- Key figures around 2030 GMT -New York – Dow: DOWN 0.3 percent at 44,421.91 (close)New York – S&P 500: DOWN 0.8 percent at 5,994.57 (close)New York – Nasdaq: DOWN 1.2 percent at 19,391.96 (close)London – FTSE 100: DOWN 1.0 percent at 8,583.56 (close)Paris – CAC 40: DOWN 1.2 percent at 7,854.92 (close)Frankfurt – DAX: DOWN 1.4 percent at 21,428.24 (close)Tokyo – Nikkei 225: DOWN 2.7 percent at 38,520.09 (close)Hong Kong – Hang Seng Index: FLAT at 20,217.26 (close)Shanghai – Composite: Closed for a holidayEuro/dollar: DOWN at $1.0302 from $1.0362 on FridayPound/dollar: UP at $1.2407 from $1.2395Dollar/yen: DOWN at 154.80 yen from 155.19 yenEuro/pound: DOWN at 83.03 pence from 83.59 penceBrent North Sea Crude: UP 0.4 percent at $75.96 per barrelWest Texas Intermediate: UP 0.9 percent at $73.16 per barrelburs-jmb/dw

Wall Street se rétracte, craintes sur les conséquences des droits de douane

La Bourse de New York a terminé en baisse lundi en raison des craintes sur les conséquences économiques des droits de douane imposés par Washington au Canada et à la Chine mais a limité ses pertes grâce au sursis accordé au Mexique par Donald Trump.Le Dow Jones a reculé de 0,28%, l’indice Nasdaq de 1,20% et l’indice élargi S&P 500 de 0,76%.

Salvage crews recover part of plane in fatal Washington crash

Salvage crews on Monday recovered part of the fuselage of a passenger plane that plunged into the Potomac River last week after colliding with a US Army helicopter, killing 67 people.A large crane assisted by a smaller one gingerly pulled the twisted wreckage of the Bombardier CRJ-700 operated by American Eagle airlines out of the water and placed it on a barge.An engine from the regional passenger jet was also recovered from the icy waters.Sixty passengers on the plane and four crew members were killed in Wednesday’s accident along with three soldiers aboard the US Army Black Hawk helicopter.There were no survivors.Fifty-five bodies have been recovered and identified so far, according to local authorities, who have expressed confidence they will locate all of the victims.”We will absolutely stay here and search until such point as we have everybody,” Washington fire chief John Donnelly said Sunday.The plane was on a flight from Wichita, Kansas, to Ronald Reagan National Airport in Washington when the collision occurred.President Donald Trump was quick to blame diversity hiring policies for the accident although no evidence has emerged that they were responsible.Trump also said the helicopter, which was on a routine training mission, appeared to be flying too high.According to US media reports, the control tower at the busy airport may have been understaffed at the time of the accident.The National Transportation Safety Board is expected to compile a preliminary report within 30 days, although a full investigation could take a year.

At least 65 killed as Sudan fighting escalatesMon, 03 Feb 2025 21:06:54 GMT

Fierce fighting in south and west Sudan killed at least 65 people and wounded more than 130 Monday, medics said, as the devastating war between the army and paramilitary forces rages on.In South Kordofan, artillery fire on the state capital Kadugli killed at least 40 people and wounded 70, according to two medical sources.The city, …

At least 65 killed as Sudan fighting escalatesMon, 03 Feb 2025 21:06:54 GMT Read More »

At least 65 killed as Sudan fighting escalates

Fierce fighting in south and west Sudan killed at least 65 people and wounded more than 130 Monday, medics said, as the devastating war between the army and paramilitary forces rages on.In South Kordofan, artillery fire on the state capital Kadugli killed at least 40 people and wounded 70, according to two medical sources.The city, controlled by the Sudanese army, was targeted in an attack that Governor Mohamed Ibrahim blamed on a faction of the Sudan People’s Liberation Movement-North (SPLM-N), led by Abdel Aziz al-Hilu, which also maintains a foothold in the state.”Hilu’s attack on civilians in Kadugli aims to destabilise” the area, Ibrahim said in a statement to AFP, vowing to “clear the mountains around Kadugli” of rebel forces.The governor said that the shelling targeted a local market.SPLM-N has clashed with both the army and the paramilitary Rapid Support Forces (RSF) in different parts of South Kordofan throughout their war.Sudan has been mired in conflict since April 2023, with battles between the regular army and RSF escalating in recent weeks.- Air strike in Nyala -In the vast western region of Darfur, a military air strike on South Darfur’s capital, Nyala, killed 25 people and wounded 63 on Monday, a medical source told AFP.The attack hit “the Cinema District in Nyala”, an area under RSF control, the source told AFP, on condition of anonymity over safety concerns.In a statement on Monday, the RSF accused the army of using “barrel bombs” against civilians in several neighbourhoods in Nyala.The RSF holds sway over much of Darfur, including Nyala, which lies 195 kilometres (121 miles) from El-Fasher, the besieged capital of North Darfur which is the only state in the region still under army control.El-Fasher is home to some two million people who have been under RSF siege since May.The city has seen some of the worst fighting of the war as the army battles to keep its last foothold in the region.The UN’s migration agency said on Monday that more than 600,000 people have been displaced from North Darfur only between April 2024 and January 2025.The International Organisation for Migration reported 95 incidents across North Darfur, more than half occurring in El-Fasher, during this period.”These incidents displaced an estimated 605,257 individuals (121,179 households),” the IOM report said.- Civilians ‘paying the price’ -Monday’s attacks in South Kordofan and Darfur also come amid intensified fighting between the army and the RSF in Khartoum, where the army has made advances against the paramilitaries.Last week, the army broke a siege of its headquarters in the capital and the Signal Corps in Khartoum North, which had both been encircled by the RSF since the war began.On Saturday, at least 60 people were killed and more than 150 injured when the RSF shelled a busy market in army-controlled Omdurman, part of greater Khartoum.Across the Nile in the capital itself, an air strike on an RSF-controlled area left two civilians dead and dozens wounded, rescuers said.Both warring sides have been repeatedly accused of targeting civilians and indiscriminately shelling residential areas.The war has killed tens of thousands of people, uprooted more than 12 million and devastated Sudan’s fragile infrastructure, forcing most health facilities out of service.As the Sudanese army advances in the capital, the UN secretary-general’s spokesman Stephane Dujarric expressed alarm on Monday over reports of summary executions of civilians in Khartoum North, allegedly by fighters and militias allied with the army.”Many of the victims of these incidents were allegedly originally from Darfur or the Kordofan regions of Sudan,” he said, calling on all parties to stop fighting and work towards a lasting peace.Sudanese women, children and men “are paying the price for the continued fighting by the belligerents,” Dujarric added.

Viande: des chercheurs proposent de réduire la consommation à plusieurs vitesses

Réduire la consommation de viande des Français de 15% d’ici 2035 mais en tenant compte des contraintes et aspirations de chaque catégories socio-économiques: c’est ce que proposent des chercheurs dans un rapport publié lundi et destiné à “lancer le débat” sur un sujet “sensible”.Concrètement, une famille aisée et diplômée, prédisposée à baisser sa consommation et avec les moyens de le faire, réduirait la proportion de viande de 26% dans son assiette contre 10% pour les familles urbaines modestes.L’Institut du développement durable et des relations internationales (Iddri) et l’Institut de l’économie pour le climat (I4CE) partent du principe qu’il “faut aller vers une alimentation saine, à faibles impacts sur les écosystèmes, accessible à tous et rémunérant équitablement les producteurs” et que cela passe pas une baisse de la consommation de viande et une meilleure qualité des produits.”La baisse de la consommation de viande ne suscite pas de rejet chez une grande majorité de la population française (…) Pourtant, à l’échelle nationale, la consommation de viande stagne depuis 10 ans”, déplorent les chercheurs.Alors comment la réduire ? Pas en comptant uniquement sur un changement d’habitude de la part d’un “consommateur responsable” mais grâce à des actions, explique Mathieu Saujot, directeur du programme Modes de vie en transition à l’Iddri.”Il faut dédramatiser le sujet (…) et rapprocher les producteurs des consommateurs”, notamment grâce à la vente directe, a plaidé Benoît Drouin, agriculteur en polyculture élevage, invité pour la présentation de l’étude à Paris. Mais aussi proposer des alternatives végétales au jambon comme le fait Fleury Michon, a défendu Billy Salha, son directeur général. Les choix du consommateur doivent aussi être accompagnés avec l’encadrement de la publicité, de l’étiquetage et par la disposition en rayon mais aussi grâce aux différents canaux d’information (médias, ONG, établissements publics), complètent les chercheurs.Pour Marie Massart, adjointe au maire de Montpellier aussi invitée à la présentation de l’étude, l’engagement des collectivités peut également se faire par l’augmentation du nombre de repas végétariens dans les cantines.L’étude dénombre 12 catégories socio-économiques plus ou moins sensibles à cet ensemble d’actions, en fonction de leurs revenus, de la composition du foyer, de leur niveau de diplômes, leur âge et leur lieu de vie.En partant de cette typologie, réalisée grâce à un travail mêlant sociologie, modélisation quantitative et études des politiques publiques, les chercheurs ont établi une trajectoire de réduction possible pour chaque groupe, qui aboutit à une réduction globale de 15% entre 2023 et 2035.Selon le scénario proposé, les femmes seules, qui consommaient en moyenne un peu moins de 100g de viande par jour, pourraient par exemple réduire leur consommation de 36% grâce à ces incitations, soit la variation la plus forte. Les hommes seuls, qui en consommaient environ 140g par jour, la réduiraient eux de 7%.