US tariff and inflation fears rattle global markets
Stock markets were rattled Wednesday by worries about incoming US president Donald Trump slapping tariffs on imports as well as the fading prospects for interest rate cuts.A CNN report that Trump is considering declaring a national economic emergency to provide legal cover to impose tariffs on all imported goods sent US and European stocks into the red and the dollar higher against major rival currencies.”Perhaps more than even during his last term of office, traders will need to pay close attention to everything coming from the new president,” said David Morrison, senior market analyst at Trade Nation.”And, just to prove a point, the dollar has soared while risk assets have tumbled on reports that Trump is mulling a national emergency declaration to allow for a new tariff program.”Susannah Streeter, head of money and markets at Hargreaves Lansdown, said that there is nervousness about the future given Trump’s unpredictable governing style.”Aside from the impact on global trade and growth prospects, the big worry is that a big swath of tariffs will stoke the embers of inflation and fan consumer prices,” she said.”Expectations are growing that this will tie the Fed’s hands and limit interest rate cuts in the US even further this year,” she added, referring to the US central bank.The Federal Reserve has already lowered its outlook for rate cuts to two reductions this year, down from the four forecast in September before Trump’s election victory.Data released Tuesday and Wednesday pointed to price pressures and a relatively robust US labor market, denting hopes of several more cuts to interest rates in the world’s biggest economy.The diminished expectations of rate cuts are “weighing on big tech stocks in particular, given that a higher rate environment pushes down the value of their future earnings,” said Streeter.US bond yields have also risen in recent days on the fading expectations of additional US interest rate cuts.Focus now turns to Friday’s release of the key non-farm payrolls report, which will provide a fresh snapshot of the US economy.US stocks ended the day modestly higher and markets will be closed on Thursday to mark the death of former US president Jimmy Carter.In Europe, German industrial orders fell more than five percent in November, official data showed Wednesday, in the latest sign of headwinds facing the continent’s largest economy. On the corporate front, shares in British energy giant Shell slid 1.4 percent on a weak trading update ahead of its full year results, capping gains on London’s benchmark FTSE 100 index.Asian stock markets closed mostly down Wednesday. – Key figures around 2140 GMT -New York – Dow: UP 0.3 percent at 42,635.20 points (close)New York – S&P 500: UP 0.2 percent at 5,918.25 (close)New York – Nasdaq Composite: DOWN 0.1 percent at 19,478.88 (close)London – FTSE 100: UP less than 0.1 percent at 8,251.03 (close)Paris – CAC 40: DOWN 0.5 percent at 7,452.42 (close)Frankfurt – DAX: DOWN less than 0.1 percent at 20,329.94 (close)Tokyo – Nikkei 225: DOWN 0.3 percent at 39,981.06 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 19,279.84 (close)Shanghai – Composite: FLAT at 3,230.17 (close)Euro/dollar: DOWN at $1.0316 from $1.0342 on TuesdayPound/dollar: DOWN at $1.2361 from $1.2479Dollar/yen: UP at 158.38 yen from 157.98 yenEuro/pound: UP at 83.44 pence from 82.87 penceBrent North Sea Crude: DOWN 1.2 percent at $76.16 per barrelWest Texas Intermediate: DOWN 1.3 percent at $73.32 per barrelburs-rl/jxb/bys/nro
Displaced LA residents in shock at scale of fire destruction
Dozens of evacuated Los Angeles residents stared incredulously at the thick cloud of black smoke blotting out the sun, scarcely able to believe the scale of the wildfires, and fearing that their homes could be destroyed next.They have gathered above Santa Monica Canyon, near the upscale Pacific Palisades neighborhood where devastating flames first broke out among multi-million dollar mansions on Tuesday.Residents continue to evacuate, or return briefly to collect their belongings.Gusts are still so strong that expensive Teslas and Alfa Romeos rock on their tires. A police car with a megaphone orders bystanders to “leave the area now.””You got the ashes to worry about in your lungs. You got your life to worry about with these 80- to 100-mile an hour gusts,” Sarahlee Stevens-Shippen told AFP.”We’ve just been in panic mode.”The 69-year-old retiree has lived here since the 1970s.Clad in a mask, she returned to her home at dawn to retrieve a few cherished possessions that she had been unable to gather in her hurry to flee the night before.”When I saw the glow of the fire coming over the mountain yesterday about eight o’clock, I took off,” she said.The flames had “already jumped the coast highway nearby and some palm trees were catching on fire,” she recalled.During the night that followed, at least two more substantial fires broke out to the north of the Los Angeles urban sprawl, in Altadena and the San Fernando Valley.Two people are confirmed to have died so far. Tens of thousands have evacuated their homes. And authorities warn that the danger is far from over, with treacherous windy conditions set to remain until later in the week.”This has been a shock that is still sinking in. But we’re in survival mode, so we’re just grabbing certain necessities and getting out,” said Stevens-Shippen.- ‘Never imagined’ -Carrying a large blue plastic bag stuffed full of clothes, Martin Sansing also emerges from the canyon. A television producer, he and his wife have just fled their four-bedroom villa.When Sansing bought the home for $1.6 million 15 years ago, he thought this neighborhood below the mountains that surround Los Angeles would be safe.”We’re in a pretty urban area. We’re not like, on a hill or anything like that,” he said.”I never imagined we would be affected.”Every fall and winter, California is swept by hot, dry Santa Ana winds. For firefighters, these are a nightmare, as they greatly increase the risk of fires spreading.This week, their strength reached an intensity not seen in more than a decade, meteorologists say.To compound the disaster, South California is experiencing a very dry winter, which makes vegetation more flammable. And there is a surplus of brush and shrubs, thanks to the two previous, unusually wet winters.”It’s hard not to think it’s unrelated to what’s happening on the planet,” said Sansing, 54.”These things seem to be more frequent and more intense.”- ‘So fast’ -At an evacuation center a few miles (kilometers) away, Arlinda Henderson is still trying to come to terms with what has happened.The Pacific Palisades resident has lived in her home with her husband since 1984. Over those four decades, she has experienced evacuations, but never anything of this severity.”This time was different — the fire just came down the hill so fast because of the wind,” she said.”I’d never seen anything like it.”The former flight attendant only had time to grab a few family photos and her pet cat before leaving her home — perhaps for the final time.”I think our house is gone. I’ve tried calling home, and I’ve tried a couple of neighbors. It’s just not ringing,” sighed the 76-year-old.She fears that her home insurance will refuse to continue to cover her against wildfires if she rebuilds in the neighborhood.”I can’t believe LA is surrounded” by wildfires, she said.
Gunfire erupts inside presidency in Chad capitalWed, 08 Jan 2025 21:56:51 GMT
Gunfire erupted Wednesday evening inside the presidency in Chad’s capital N’Djamena, with tanks and a heavy security presence on the streets, according to AFP reporters on the scene and security sources.Several hours later, Foreign Minister Abderaman Koulamallah appeared in a video on Facebook, surrounded by soldiers, saying that “the situation is completely under control… the …
Gunfire erupts inside presidency in Chad capitalWed, 08 Jan 2025 21:56:51 GMT Read More »
Sophie Binet réclame l’abrogation de la réforme des retraites à Bayrou
La numéro un de la CGT Sophie Binet a demandé mercredi soir au chef du gouvernement François Bayrou d’abroger la réforme des retraites et d’organiser une “table ronde” sur les licenciements qui se multiplient.”La CGT a redit son exigence d’abrogation de cette réforme (des retraites)”, a déclaré Sophie Binet à la sortie d’un entretien avec François Bayrou. Elle a également plaidé pour que soit “immédiatement bloquée l’application” de cette réforme. “Nous lui avons demandé d’organiser une conférence de financement” avec “les acteurs sociaux, le gouvernement et les parlementaires”, a-t-elle poursuivi.Le Premier ministre “nous a annoncé qu’il souhaitait ouvrir des discussions dans un délai rapide” et dit comprendre que “6 mois ou 9 mois (de concertation, Ndlr), c’était un délai trop long”, a-t-elle rapporté.Sophie Binet a estimé que “pour que ce gouvernement puisse s’inscrire dans la durée, il fallait qu’il réponde aux urgences sociales autour de cinq priorités”.Parmi celles-ci, elle a pointé “la question de l’emploi et de l’industrie” et rappelé la liste des 300 plans sociaux en cours depuis l’automne et qui menacent jusqu’à 300.000 emplois.”Je lui ai demandé qu’une table ronde soit organisée immédiatement à Matignon sous sa présidence avec l’ensemble des acteurs sociaux pour prendre des mesures d’urgence” et demandé “un moratoire sur les licenciements”, a déclaré Mme Binet.”La première revendication des salariés c’est toujours la question des salaires”, a poursuivi Mme Binet, qui demande au Premier ministre “d’annoncer un coup de pouce au Smic”.Enfin, elle a plaidé pour l’organisation d'”une conférence sociale avec tous les acteurs sociaux de Mayotte pour travailler sur la reconstruction” de l’île dévastée par le cyclone Chido en décembre.Le Premier ministre François Bayrou reçoit depuis mardi les partenaires sociaux, avec en toile de fond le sujet épineux de la très contestée réforme des retraites de 2023. Des rencontres organisées avant son discours de politique générale, mardi, qui doit donner le cap de son mandat.A cette occasion, “nous lui demandons d’envoyer des signaux très forts qui montrent sa volonté de répondre immédiatement aux urgences sociales, environnementales et économiques”, a prévenu Sophie Binet.Jeudi, seront reçus les leaders de la CFE-CGC François Hommeril, de FO Frédéric Souillot et le président de l’U2P (entreprises de proximité) Michel Picon.Le patron de la CFTC, Cyril Chabanier, sera reçu le lundi suivant.
Celebrities flee Los Angeles fires as Hollywood events scrapped
A-list actors, musicians and other celebrities were among the tens of thousands of people affected by terrifying wildfires tearing through Los Angeles on Wednesday.The entertainment capital was besieged by out-of-control blazes burning on multiple fronts, with Hollywood events including a glitzy awards show and a Pamela Anderson film premiere cancelled as firefighters battled nearby flames whipped up by hurricane-force winds.Hundreds of homes were destroyed in the swanky Pacific Palisades area, a favorite spot for celebrities where multimillion-dollar houses nestle on beautiful hillsides, while another inferno devastated parts of Altadena, to the east.Mandy Moore, the singer and “This Is Us” actress, told followers on Instagram she had fled with her children and pets from the path of the Altadena fire. “Trying to shield the kids from the immense sadness and worry I feel. Praying for everyone in our beautiful city. So gutted for the destruction and loss. Don’t know if our place made it,” she wrote.Emmy-winning actor James Woods posted a video on X showing flames engulfing trees and bushes near his Pacific Palisades home as he got ready to evacuate, and shortly afterwards said all the fire alarms were going off.”I couldn’t believe our lovely little home in the hills held on this long. It feels like losing a loved one,” Woods said.”Star Wars” star Mark Hamill told his followers on Instagram that he had fled his Malibu home on Tuesday.”Evacuated Malibu so last-minute there were small fires on both sides of the road as we approached PCH,” he wrote, referring to the Pacific Coast Highway, a scenic road that connects seafront settlements.Hamill said he and his wife Marilou York, along with a pet dog, had gone to their daughter’s Hollywood home to escape what he dubbed the “most horrific fire since ’93.”- Premieres cancelled -Meanwhile, several major Hollywood events were abruptly called off due to the disaster.The annual Critics Choice Awards gala, which honors the year’s best in film and television and is attended by dozens of A-list stars, was postponed from this Sunday to January 26.Anderson’s premiere for “The Last Showgirl” was scrapped due to the unfolding disaster, while Paramount also cancelled a glitzy red-carpet screening of the Robbie Williams musical film “Better Man.”Netflix pulled the plug on a press conference for its Golden Globe winner “Emilia Perez.”A live announcement to unveil this year’s Screen Actors Guild nominations was abandoned on Wednesday morning, in favor of a simple press release.Filming of Los Angeles-based shows such as “Grey’s Anatomy,” “Hacks” and “Jimmy Kimmel Live” was paused. And the Universal Studios theme park was closed for the day due to the extreme winds and fire conditions.- ‘Burn’ -Steve Guttenberg — star of 1984 comedy “Police Academy” — was among those helping get people out of Pacific Palisades as the fire began spreading on Tuesday.The “Cocoon” actor expressed frustration at how some of those fleeing the blaze had abandoned their cars on one of the only roads in and out of the ritzy neighborhood.”If you leave your car… leave the key in there so a guy like me can move your car so that these fire trucks can get up there. It’s really, really important,” he told a live television broadcast.Reality TV personalities Heidi Montag and Spencer Pratt from “The Hills,” an MTV show that ran until 2010, said they had lost their house after evacuating.”I’m watching our house burn down on the security cameras,” Pratt wrote on Snapchat.
Binet (CGT) réclame l’abrogation de la réforme des retraites à Bayrou
La numéro un de la CGT Sophie Binet a demandé mercredi soir au chef du gouvernement François Bayrou d’abroger la réforme des retraites et d’organiser une “table ronde” sur les licenciements qui se multiplient.”La CGT a redit son exigence d’abrogation de cette réforme (des retraites)”, a déclaré Sophie Binet à la sortie d’un entretien avec François Bayrou. Elle a également plaidé pour que soit “immédiatement bloquée l’application” de cette réforme. “Nous lui avons demandé d’organiser une conférence de financement” avec “les acteurs sociaux, le gouvernement et les parlementaires”, a-t-elle poursuivi.Le Premier ministre “nous a annoncé qu’il souhaitait ouvrir des discussions dans un délai rapide” et dit comprendre que “6 mois ou 9 mois (de concertation, Ndlr), c’était un délai trop long”, a-t-elle rapporté.Sophie Binet a estimé que “pour que ce gouvernement puisse s’inscrire dans la durée, il fallait qu’il réponde aux urgences sociales autour de cinq priorités”.Parmi celles-ci, elle a pointé “la question de l’emploi et de l’industrie” et rappelé la liste des 300 plans sociaux en cours depuis l’automne et qui menacent jusqu’à 300.000 emplois.”Je lui ai demandé qu’une table ronde soit organisée immédiatement à Matignon sous sa présidence avec l’ensemble des acteurs sociaux pour prendre des mesures d’urgence” et demandé “un moratoire sur les licenciements”, a déclaré Mme Binet.”La première revendication des salariés c’est toujours la question des salaires”, a poursuivi Mme Binet, qui demande au Premier ministre “d’annoncer un coup de pouce au Smic”.Enfin, elle a plaidé pour l’organisation d'”une conférence sociale avec tous les acteurs sociaux de Mayotte pour travailler sur la reconstruction” de l’île dévastée par le cyclone Chido en décembre.Le Premier ministre François Bayrou reçoit depuis mardi les partenaires sociaux, avec en toile de fond le sujet épineux de la très contestée réforme des retraites de 2023. Des rencontres organisées avant son discours de politique générale, mardi, qui doit donner le cap de son mandat.A cette occasion, “nous lui demandons d’envoyer des signaux très forts qui montrent sa volonté de répondre immédiatement aux urgences sociales, environnementales et économiques”, a prévenu Sophie Binet.Jeudi, seront reçus les leaders de la CFE-CGC François Hommeril, de FO Frédéric Souillot et le président de l’U2P (entreprises de proximité) Michel Picon.Le patron de la CFTC, Cyril Chabanier, sera reçu le lundi suivant.