01/16/2019

News

Congo Opposition Candidate to Challenge Election Results

Democratic Republic of Congo opposition leader Martin Fayulu said Friday he will challenge the official election result at the country’s constitutional court, as one of his campaign aides claimed his candidate had won in a landslide. Preliminary results announced early Thursday by Congo’s electoral commission said another opposition leader, Felix Tshisekedi, had come first in […]

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Commentary: How Sweden Overcame Socialism

Nearly half of millennials say they prefer socialism to capitalism, but what do they mean? “My policies most closely resemble what we see in the U.K., in Norway, in Finland, in Sweden,” Rep. Alexandria Ocasio-Cortez told “60 Minutes.” Yet Sweden’s experiment with socialist policies was disastrous, and its economic success in recent decades is a […]

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South Korea Raised Taxes in Bid for Growth. So Far, It’s Not Working.

As President Trump leads a drive to slash taxes and pare back regulation, one major economy is taking a different approach. Under President Moon Jae-in, South Korea has raised taxes and the minimum wage in the name of economic growth. So far, it hasn’t worked out as planned. Growth has slowed, unemployment has risen and […]

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Newsom seeks changes across government in first budget

Enjoying the tailwinds of a massive surplus and large Democratic supermajorities in both houses, Gov. Gavin Newsom is using his first budget proposal to put his policy stamp on nearly every sector of California government. The Democratic governor described Thursday — in detail, for nearly two hours — how he would use his $209 billion […]

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Tesla to stop selling the lowest-priced versions of its Model S and X vehicles on Monday, Elon Musk tweets

Tesla will stop selling the lowest-priced versions of its Model S sedans and Model X SUVs from Monday, the automaker’s CEO Elon Musk wrote in a tweet late on Wednesday. The Model S and X are Tesla’s second and third major lines of electric vehicles, and are higher-priced lines compared to its newest Model 3. […]

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Faraday ends legal battle, may fire up Hanford facility

Hundreds of Faraday Future employees laid off in late October have wondered for weeks when — and even if — they would get back to work. That answer may come by the end of this week, said John S. Lehn, head of government affairs for the startup electric car company in Hanford. In an interview, […]

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The outlook is dim for Americans without college degrees

AMERICA’S AGEING economic boom can still produce pleasant surprises. Companies added an astonishing 312,000 new jobs in December, the Bureau of Labour Statistics reported on January 4th, and raised pay at the fastest clip in years. For the third of working-age Americans without any college education, such spells of rapid income growth have been exceedingly […]

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How Estimates of the Gig Economy Went Wrong

Two leading experts on the “gig economy” now say their estimates of its impact were too high, skewed by spotty data and the recession of a decade ago. Alan Krueger of Princeton University and Lawrence Katz of Harvard sifted through new evidence to explain how, in a 2015 survey, they overestimated how people cobbling together […]

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Tension mounts as Congo’s election commission delays results announcement

Congo’s historic yet disorganized election suffered yet another delay on Sunday as the election commission admitted it had tabulated only about half of results on the day it was supposed to have completed the count. It did not say when it would be able to release results. The delay fuels suspicions that the election commission […]

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U.S. sends troops in response to possible “violent” demonstrations in Congo

President Trump announced Friday evening that U.S. troops had been sent to Gabon to protect U.S. assets in the Democratic Republic of Congo, which is awaiting the first results of its presidential election. Mr. Trump wrote in a letter to House Speaker Nancy Pelosi Friday that around 80 personnel had been deployed to the capital […]

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A California Dream for Paid Leave Has an Old Problem: How to Pay for It

The United States has long been the only industrialized country not to offer paid leave to new parents. Instead of waiting for the federal government, the incoming governor of California intends to change that in a significant way for families in his state. He is expected to introduce a proposal to give families six months […]

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The economy is booming. Why are so many California schools broke?

Facing a $36 million deficit and a possible state takeover, the top budget officer at the Sacramento City Unified School District has a sober message for his counterparts around California. Sacramento is “just one of the first dominoes,” said John Quinto, the district’s chief business officer. By any measure, Sacramento City’s distress is worse than […]

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Court says California violates rights of poor defendants by imposing fees

California is violating the rights of poor defendants by attaching fees to misdemeanor criminal convictions regardless of their ability to pay, a state appeals court ruled Tuesday. The ruling by the Second District Court of Appeal in Los Angeles singled out payments imposed by state law to help fund court operations and maintain a statewide […]

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Developer accuses two construction unions of engaging in racketeering and extortion

A Los Angeles real estate developer has filed a lawsuit accusing two labor unions of violating federal racketeering and antitrust laws as they attempted to block the approval of a mixed-use complex in the San Fernando Valley. The Icon Co., which is seeking to build a $150-million project in Panorama City, said in its lawsuit […]

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California pot taxes lag as illegal market flourishes

Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’s shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat’s proposed spending plan, released Thursday, projects the state will bank $355 million in marijuana excise taxes by the end of June. That’s […]

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