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Trump signs an order to boost US drone defenses and boost supersonic flights
The White House announced that President Donald Trump signed executive orders on Friday to strengthen U.S. defences against drones, and to promote electric air taxis as well as supersonic commercial planes. Trump's three executive orders sought to allow drones to be used routinely beyond the sight of the operator - an important step in enabling commercial drone delivery - reduce U.S. dependence on Chinese drone companies, and advance test electric vertical takeoff-and-landing aircraft. The order will boost eVTOL companies such as Joby Aviation and Archer Aviation. Trump has established a federal taskforce to ensure U.S. sovereignty over the skies of America, to expand restrictions on sensitive sites, to expand federal technology to detect drones instantly, and to provide assistance to local and state law enforcement. Michael Kratsios is the director of the White House Office of Science and Technology Policy. He said that Trump wants to deal with the "growing threats of criminal terrorists and the foreign misuse of drones" in U.S. Airspace. We are protecting our borders against national security threats in the air and with major public events like the Olympics and World Cup coming up. The National Football League said that the executive order was crucial to protect fans. Over the last few years, a growing number of drones has flown in restricted airspace at our games. The NFL stated that this executive order was the most important step taken to address this issue. Congress should also act. Sebastian Gorka is the senior director for counterterrorism in the National Security Council. He cited threats against major U.S. sports events and the use of drones by Russia in its war in Ukraine. Gorka stated that "we will increase our counter-drone capability and capacity." We will enforce the current laws more aggressively to deter evildoers as well as idiots. Last year, the issue of suspicious drones gained significant attention after a spate of sightings of drones in New Jersey. Each month, the Federal Aviation Administration receives over 100 reports of drone sightings near airports. Drone sightings can disrupt flights and sporting events. Trump has also ordered the FAA lift an old ban on supersonic flights over land, which was imposed in 1973. Environmentalists have criticized supersonic aircraft for burning more fuel than subsonic planes per passenger. Kratsios stated that "the reality is Americans should be able fly from New York City to Los Angeles in less than four hours." The advancements in material science, aerospace engineering and noise reduction have made supersonic overland flight possible. It is also safe, sustainable, and commercially viable. The order instructs FAA that supersonic speeds will be lifted as long as the aircraft does not create an audible boom on the ground. Boom Supersonic, a manufacturer of aircrafts, welcomed the decision. Blake Scholl said, "The race to supersonic speed is on, and a new age of commercial flights can begin." After 27 years, the Concorde was retired by Air France and British Airways in 2003, ending the era of commercial supersonic flight. Officials confirmed that the Trump orders did not ban any Chinese drone companies. Former President Joe Biden had signed legislation last year that would have banned DJI and Autel Robotics, both based in China, from selling drones to the U.S. DJI is the largest drone manufacturer in the United States, selling more than half of commercial drones. Reporting by David Shepardson, Washington Editing by Matthew Lewis
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Sources: US considers giving millions of dollars to controversial Gaza Aid Foundation
According to two sources with knowledge and two former U.S. government officials, the State Department is considering giving $500 million to a new foundation that provides aid to Gaza after the war. This would further involve the U.S. in an aid effort that's been plagued by violence and chaos. Sources and former U.S. government officials who requested anonymity due to the sensitive nature of the issue said that the money for Gaza Humanitarian Foundation would come from USAID, which is now part of the U.S. State Department. Two sources claim that the plan was met with resistance by some U.S. officials who were concerned about the shootings of Palestinians in the vicinity of aid distribution sites, and the GHF's competence. GHF has been criticized for its alleged lack neutrality by many humanitarian organizations including the United Nations. Last week, they began to distribute aid amid warnings from UN agencies that Gaza's population of 2.3 million is at risk of starvation after an 11-week Israeli blockade. This was lifted on 19 May when limited deliveries could resume. After crowds flooded its distribution hubs, the foundation had to stop handing out food twice in a week. GHF and the State Department did not respond immediately to comments. It has not been possible to determine who currently funds the GHF's operations in Gaza, which began last week. The GHF relies on private U.S. logistics and security companies to transport the aid into Gaza, where it is distributed at so-called secure sites. On Thursday, it was reported that McNally Capital, a Chicago-based firm of private equity, had an "economic stake" in a for-profit U.S. contractor who oversees the logistics and security at GHF's distribution hubs. Both the U.S. administration of Donald Trump and Israel, which denies funding the GHF operation and the international aid groups have pressed the United Nations to assist it. Israel and the U.S. claim that Hamas received aid from a U.N. network with a long history. Hamas denies that. USAID is all but gone. About 80 percent of USAID's programs have been cancelled and its staff faces termination in President Donald Trump’s effort to align U.S. Foreign Policy with his “America First” agenda. According to a source familiar with the matter, and a former senior official who helped oversee USAID's dismemberment, Ken Jackson has championed the idea of giving $500 million to GHF. Sources said Israel had requested funds to cover GHF's operation for 180 days. The Israeli government didn't immediately respond to an inquiry for comment. Two sources claim that the U.S. government is concerned about the plan due to the violence and overcrowding at the GHF contractor's aid distribution hubs. Sources said that if State Department approves funds for GHF they also want established non-governmental organisations experienced in running aid missions in Gaza and other places to be included in the operation. Israel will likely oppose this position, according to the sources. Gaza Hospital officials reported that more than 80 people were killed and hundreds injured near GHF distribution points between June 3 and 6. The GHF opened three hubs since it began its operation. However, in the last two days, two of these hubs have been operational. Israeli soldiers were blamed by witnesses for the deaths. On two days the Israeli military claimed that it had fired warning shots, but on Tuesday they said that soldiers fired at Palestinian'suspects' advancing toward their positions. (Reporting and editing by Don Durfee, Alistair Bell, Michelle Nichols)
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The US Supreme Court has granted DOGE access to Social Security Data
The U.S. Supreme Court granted the Department of Government Efficiency (DGE), a key player behind President Donald Trump's plan to reduce the federal workforce by slashing the number of federal employees, access to millions of Americans' personal data in the Social Security Administration database while the legal case is being litigated. The Justice Department requested that the Justices suspend the order of U.S. District Court Judge Ellen Hollander, based in Maryland, which had blocked DOGE from accessing "personally identifiable data" such as financial and medical records. This is while the litigation in the lower court proceeds. Hollander determined that giving DOGE full access to data would likely violate federal privacy laws. The court's unsigned, brief order didn't provide any rationale to support DOGE. The court is conservatively majority 6-3. Three of the court's liberal justices were dissidents. DOGE was sweeping through federal agencies in the Republican President's effort spearheaded by Elon Musk to eliminate federal positions, downsize, reshape and reform the U.S. Government and root out wasteful spending. Musk officially ended his government job on May 30. Two labor unions, an advocacy group and the Social Security Administration (SSA) sued DOGE to prevent it from accessing sensitive information at the SSA. This includes Social Security numbers of Americans, bank data, tax data, earnings histories and immigration records. The agency provides government benefits to over 70 million people, including retired Americans and Americans with disabilities. The plaintiffs in their lawsuit alleged that the Social Security Administration was "ransacked", that DOGE members were installed without proper training or vetting, and demanded that they be given access to the most sensitive data systems of the agency. Hollander, in a ruling dated April 17, found that DOGE failed to explain its stated mission which required "unprecedented and unfettered access" to virtually the entire SSA data systems. Hollander wrote: "For about 90 years, SSA was guided by a foundational principle that an expectation of privacy in relation to its records." This case exposes an extensive crack in the foundation. Hollander issued an injunction prohibiting DOGE staffers, and anyone who worked with them, from accessing personal data. There were only a few exceptions. In the judge's decision, DOGE affiliates can access data stripped of personal information as long they have undergone training and cleared background checks. Hollander also ordered DOGE affiliated companies to "disgorge" and "erase" any personal data they already possess. Richmond, Virginia's 4th U.S. The Circuit Court of Appeals, in a vote of 9-6 on April 30, declined to pause Hollander’s block on DOGE’s unlimited access to Social Security Administration Records. In a filing to the Supreme Court, lawyers for Justice Department characterized Hollander’s order as judicial excess. The court ordered the executive branch not to allow employees who are responsible for modernizing government systems of information access the data stored in these systems, because in its opinion, the employees in question do not "need" such access. The six dissenting judge wrote that this case should have treated the same way as the 4th Circuit panel ruling 2-1 to allow DOGE access to data at the U.S. Treasury Department, Education Department and Office of Personnel Management. Seven judges who ruled against DOGE in a concurring decision wrote that the case regarding Social Security data had "vastly higher stakes" and "detailed Social Security records", such as school and family records for children, mental health records, and credit card details. (Reporting and editing by Diane Craft, Alistair Bell and John Kruzel)
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Abrego Garcia, a man mistakenly deported to the US and facing charges, returns to the US
Kilmar Abrego Garcia, the man who was mistakenly sent from Maryland to El Salvador under the Trump administration has returned to the United States and will face criminal charges. Attorney General Pam Bondi announced this on Friday. Abrego Garcia has been charged with conspiracy to transport illegal immigrants in the United States in a federal court indictment in Tennessee. Court records show that the indictment was filed more than two months following Abrego Garcia’s deportation on March 15, according to court records. Andrew Rossman, Abrego Garcia’s lawyer, stated in a press release that it was now up to the U.S. judiciary system to ensure that he received a fair trial. "Today's actions prove what we knew all along -- the administration had the capability to bring him home and simply refused to do so," Rossman, a lawyer at Quinn Emanuel said. Court records reveal that Abrego Garcia was deported from El Salvador despite a 2019 order by an immigration judge granting him protection against deportation after finding that he would be persecuted if he returned to El Salvador. The erroneous removal was cited by critics of President Donald Trump as an example that the Republican president is overly aggressive in his approach to increasing deportations. The officials countered that Abrego was a MS-13 member. His lawyers denied that Abrego was a gang member and stated that he hadn't been charged or convicted for any crime. The case of Abrego Garcia has become a flashpoint for tensions between Trump's executive branch and judiciary. Both have ruled against some of Trump’s policies. The U.S. Supreme Court ruled that the Trump administration must facilitate Abrego's Garcia's return. Liberal Justice Sonia Sotomayor said the government did not have a basis for his "warrantless detention." U.S. District Court Judge Paula Xinis opened a probe to determine what the Trump administration did, if any, to facilitate Abrego Garcia's return after his attorneys accused officials of stonewalling them in their request for information. In addition, Abrego Garca and two other unidentified conspirators are charged with illegally transporting firearms purchased in Texas to Maryland for resale. According to the indictment, Abrego Garcia also transported illegal drugs purchased in Texas and resold in Maryland. He was sometimes accompanied by MS-13 members and associates on these trips. (Reporting from Ryan Patrick Jones, Sarah N. Lynch and Luc Cohen in Washington; additional reporting by Nate Raymond and Tom Hals in Wilmington; editing by Sandra Maler.)
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Gol plans to expand its fleet and add new routes after exiting Chapter 11.
Celso Ferrer, the Chief executive officer of Brazilian airline Gol, said that the company had officially exited bankruptcy proceedings in the United States, paving the way for new routes and flights within Brazil as well as to other countries. Gol, the Brazilian airline after Latam, filed for Chapter 11 bankruptcy in the United States in 2024. The sector was struggling with heavy debts, a sharp decline in passenger numbers due to the COVID-19 Pandemic and delays in aircraft deliveries. Azul, Gol's competitor, filed for Chapter 11 bankruptcy protection in the United States last month. Ferrer stated that despite Azul's financial troubles, discussions over a possible partnership between the airline and Gol continue. A final deal will only be made if the partnership adds value, either through new routes or increased growth. "If it's better," he said. Abra Group is managing the discussions regarding the business merger, which was formalized by a memorandum last January. Abra Group is the majority shareholder in Colombia's Avianca and Gol. Luciana Magnalhaes, Luciana Andreoni and Manuela Andreoni contributed to this report.
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Boeing is preparing to resume plane deliveries in China as the tariff war eases
FlightRadar24 reports that a new Boeing 737 MAX painted in Xiamen Airlines' livery, and on its first leg of the route to shuttle jets to Xiamen Airlines' delivery center in China. The Boeing jet was headed for Kailua-Kona in Hawaii, which is one of many refueling stations Boeing jets stop at on their way to China across the Pacific. The Chinese customers received their deliveries. The abrupt halt Early April, as the U.S. & China were edging towards a trade conflict. Boeing's spokesperson refused to comment on where the jetliner will end up. Neither Xiamen Airlines nor the Chinese government responded to requests for comment. In April, the United States and China agreed to roll back tariffs for 90 days in response to President Donald Trump's tariffs. On May 12, however, the U.S. & China agreed to reduce the tariffs by 90 days. Trump announced on Friday that U.S. representatives and Chinese representatives will meet in London, England, June 9, to discuss a possible trade agreement. On May 29, Boeing CEO Kelly Ortberg said that Chinese airlines will resume receiving Boeing aircraft deliveries in June. Boeing brought back at least three 737 MAX jets to the United States from its Zhoushan completion centre near Shanghai in April. These jets had been taken there for final preparations before being delivered to Chinese carriers. The plane that flew to Hawaii on Friday was the first one to return from China. Boeing had previously stated that customers in China wouldn't take delivery of new aircraft due to tariffs. It was also looking to resell dozens of planes. Beijing has not stated why Boeing deliveries have stopped but claimed that Chinese airlines and Boeing were severely affected by U.S. tariffs. China is a growing and important aviation market, representing about 10% of Boeing’s commercial backlog. Boeing announced in April that it planned to deliver 50 jets to Chinese carriers in the remainder of the year. Of these, 41 were in production or had been pre-built. Boeing has said that other airlines would be interested in purchasing the rejected Chinese planes. However, the planemaker did not send the planes anywhere else despite its goal to reduce the inventory.
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Trump signs an order to boost US drone defenses and boost supersonic flights
The White House announced that President Donald Trump signed executive orders on Friday to strengthen U.S. defences against drone threats and to boost supersonic commercial planes and electric air taxis. Trump's three executive orders sought to allow drones to be used beyond the sight of the operator - an important step in enabling commercial drone delivery - as well as reduce U.S. dependence on Chinese drone companies, and to begin testing electric vertical lift-off and landing aircraft (eVTOL). Trump has established a federal taskforce to ensure U.S. sovereignty over the skies of America, to expand restrictions on sensitive sites, to expand federal technology to detect drones instantly, and to provide assistance to local and state law enforcement. Michael Kratsios is the director of the White House Office of Science and Technology Policy. He said that Trump wants to deal with the "growing threats of criminal terrorists and the foreign misuse of drones" in U.S. Airspace. We are protecting our borders against national security threats in the air and with major public events like the Olympics and World Cup coming up. Sebastian Gorka is the senior director for counterterrorism in the National Security Council. He cited threats against major U.S. sports events and the use of drones by Russia in its war in Ukraine. Gorka stated that "we will increase our counter-drone capability and capacity." We will enforce current laws more aggressively to deter both evildoers, and idiots. Last year, the issue of suspicious drones gained significant attention after a spate of sightings of drones in New Jersey. Each month, the FAA receives over 100 reports of drone sightings near airports. Drone sightings can disrupt flights and sporting events. Trump has also ordered the Federal Aviation Administration (FAA) to lift an old ban from 1973 that prohibited supersonic flights over land. Kratsios stated that "the reality is Americans should be able fly from New York City to Los Angeles in less than four hours." The advancements in material science, aerospace engineering and noise reduction have made supersonic overland flight possible. It is also safe, sustainable, and commercially viable. Officials confirmed that the Trump orders did not ban any Chinese drone companies. Former President Joe Biden had signed legislation last year that would have banned DJI and Autel Robotics, both based in China, from selling drones to the U.S. DJI is the largest drone manufacturer in the United States, selling more than half of commercial drones. Reporting by David Shepardson, Washington Editing by Matthew Lewis
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India pledges to continue development in Kashmir following tourist attack
Narendra Modi, the Prime Minister, said that India was committed to developing its restive Jammu-and-Kashmir territory. He accused Pakistan of trying to destroy livelihoods in the region with a deadly attack on tourists last April. He spoke on his first trip to the Himalayan region after islamists attacked Hindu tourists in Pahalgam, killing 26 of them. This sparked hostilities that led to a ceasefire between the two nuclear-armed neighbors last month. The attack will not hinder the atmosphere of development in Jammu & Kashmir. Modi made the following remarks after launching infrastructure projects: "I will not allow development to stop here." The $5 billion rail link connecting the Kashmir Valley with the rest of India has taken more than 40-years to build and includes the highest railway arch in the world. Other projects include city roads, highways and a new medical school. India accused Pakistan of supporting the April attack. Islamabad denied this claim. They engaged in fierce fighting for four days last month, before reaching a ceasefire. Modi claimed that Pakistan was trying to undermine the livelihoods and tourism of the poor people in Kashmir. He added that he would overcome any obstacles to regional development. The Pakistani foreign ministry didn't immediately reply to a comment request on Modi remarks. Islamabad stated last month that a peaceful and just resolution to the Kashmir dispute is essential for a lasting peace in this region known for its picturesque lakes, lush meadows and tulip garden. This region, which attracted more than three million tourists last year, is the source of hostility between two old enemies who claim it both in full but only rule it partially and have fought over it twice in their three wars. India accuses Pakistan as well of supporting Islamist militants who are fighting security forces in Jammu & Kashmir, but Islamabad rejects the accusation. The Kashmir Valley has trains, but this is the first time that they are connected to the Indian Railway network. It is also expected to boost the region's economy and revive tourism which fell after the April attacks. $1 = 85,7500 Indian Rupees (Reporting and editing by YPrajesh, Clarence Fernandez and Sakshi Dayal)
Harris vs Trump: Stocks to view as White House race goes into last stretch
Just days ahead of the Nov. 5 governmental election in the U.S., investors are attempting to evaluate how stock markets will react as polls and betting platforms indicate a tight race in between Vice President Kamala Harris and previous President Donald Trump.
Harris' lead over the Republican politician has actually dwindled to a single percentage point in the final stretch of the presidential contest, according to a Reuters/Ipsos survey published on Tuesday.
A majority of a dozen experts that Reuters talked to anticipate a Trump go back to enhance equity markets, with some favoring a. split government.
Crypto stocks and small-caps have actually gained in the lead up to. the election.
Trump's pledge to cut corporate taxes and decline. regulations could improve markets in the short-term if he wins,. stated Bel Air Investment Advisors Chairman Todd Morgan.
On the other hand, Trump has assured to
double down on trade tariffs
, especially against China, and
rescind
all unspent funds under a signature Biden-Harris climate. law that includes numerous billions of dollars in aids. for electrical cars, solar and other tidy energy. innovations.
A divided Congress may be the very best outcome as it limits what. the president can achieve and invest, according to Brian. Klimke, primary market strategist at Cetera Financial investment Management.
Here's a list of stocks and sectors that could move on the. election outcome:
TRUMP TRADE
BANKS: A Trump win or Republican sweep might raise Wall. Street banks such as JPMorgan Chase, Bank of America. and Wells Fargo on enhanced domestic investment,. looser guidelines, domestic job additions and tax cuts, Bank of. America experts said.
However, concerns around a wider trade deficit and tariffs. are viewed as negative for the sector.
M&A recipients consist of Goldman Sachs, Morgan. Stanley, Lazard and Evercore in the middle of a more. lenient technique to antitrust guideline enforcement.
CRYPTO: A more responsive regulatory approach to digital. possessions under a Trump win might benefit crypto stocks, according. to TD Cowen experts who highlighted the probability of the. former president calling a pro-crypto SEC chair.
MicroStrategy, Riot Platforms, MARA. Holdings, Hut 8 and Bit Digital. climbed in between 3.4% and 45% in October.
ENERGY: Morgan Stanley experts believe a Trump presidency. might prioritize decreasing the regulative problem on domestic oil. and gas production, while thinking about the possibility of more. limiting trade policies.
Trump's assistance for nonrenewable fuel source industries might benefit. oil and gas stocks, as he would likely pursue policies that. favor domestic energy production, stated Daniela Hathorn, senior. market expert at Capital.com.
Trump might utilize authority to rapidly increase. production levels, which would benefit expedition business. such as Chevron, Exxon Mobil, and ConocoPhillips .
He could likewise reverse the Biden administration's time out on. allowing brand-new LNG export projects, likely benefiting Baker. Hughes and Chart Industries. Nevertheless, Trump's. proposed 60% tariff on imports from China might strike LNG. exporters like Cheniere Energy and New Fortress Energy. in case of any vindictive actions.
TRUMP-RELATED STOCKS: Trump Media & & Innovation Group. , in which Trump owns a bulk stake, software application company. Phunware and video-sharing platform Rumble. stand to gain even more if he wins. Both Phunware and Trump Media. & & Technology have actually doubled in October after sluggish efficiency. in recent months.
JAIL OPERATORS: Geo Group and CoreCivic. might gain from Trump's re-election, on guarantees of a crackdown. on illegal migration and limitations on legal immigration,. which might improve demand for detention centers.
PROVIDERS: Wells Fargo analysts said the proposed tariff on. Chinese imports under a Trump term could harm demand for parcel. providers FedEx and United Parcel Service, and. forwarder C.H. Robinson Worldwide, which have. substantial direct exposure to China.
SMALL-CAP STOCKS: U.S.-focused business could gain from. business rewards and tariffs that favor domestic production. The small-cap Russell 2000 index has actually increased nearly 9% so. far in 2024.
HARRIS BASKET
HOMEBUILDERS: Harris' pledge to develop more homes and minimize. expenses for tenants and home buyers mostly through tax. rewards, combined with a benign interest-rate environment,. might increase homebuilders D.R. Horton, KB Home,. Lennar, PulteGroup, Zillow Group and Toll. Sibling.
HEALTH CARE: The sector has been a key focus for the Harris. project.
She has actually vowed to cut healthcare expenses by executing caps. on prescription drug costs, such as restricting insulin rates to. $ 35. This could weigh on profit margins for pharmaceutical. giants such as Eli Lilly, Merck, and Pfizer .
Andrew Wells, CIO of SanJac Alpha, nevertheless, anticipates. health care insurance companies such as Humana and UnitedHealth. Group to likely benefit from expanded protection under a. Harris presidency.
BUSINESS TAXES: Harris' proposition to tax corporations and. the wealthy consists of a 28% business tax rate which could. assist the U.S. deficit.
According to Stock Analysis, Microsoft, Apple. , and Alphabet were the three companies. shouldering the highest income taxes over the past 12 months,. collectively amounting to $67.73 billion.
It is extremely unlikely to see a blue wave, but if that. happens, the market response could be temporarily unfavorable due. to the potential customers of greater business tax rates, said Cetera's. Klimke.
RENEWABLE STOCKS: Green energy is poised to flourish under. Harris, with the capacity for increased rewards and. supportive policies as well as guidelines on huge oil companies,. according to Capital.com's Hathorn.
Harris will aim to considerably lower pollution by 2035,. lining up with the Paris Agreement-- a climate pact Trump has. swore to withdraw.
Significant U.S. renewable resource firms such as NextEra Energy. and hydrogen manufacturers consisting of Plug Power and. Blossom Energy might also benefit.
(source: Reuters)