Wednesday, December 4

Month: December 2024

French government teeters after PM Barnier forces through budget

Reuters Michel Barnier was appointed France's prime minister in September France's minority government is on the brink of collapse after Prime Minister Michel Barnier used special powers to force through his budget without a vote in parliament. Furious opposition parties said they would back a no-confidence motion to oust the former Brexit negotiator in a vote that could take place as early as Wednesday. Barnier opted to push through controversial reforms to social security by invoking presidential decree after failing to win enough support for the measures. One left wing French MP told the BBC the move had left France in "deep, huge political crisis". France has been beset by political uncertainty since President Macron called snap elections over the summer whi...

Trump picks investment banker Warren Stephens as UK ambassador

President-elect Donald Trump has nominated businessman Warren Stephens to serve as America’s ambassador to the United Kingdom. “Warren has always dreamed of serving the United States full time,” Trump said in a statement on Truth Social. “I am thrilled that he will now have that opportunity as the top diplomat, representing the USA to one of America’s most cherished and beloved allies.” Stephens, who is CEO of private investment bank Stephens Inc, donated millions to Trump’s re-election campaign this year. If his nomination is successful, Stephens will help to maintain the so-called “special relationship” between the US and the UK. The role of US ambassador to the UK is one of the most coveted diplomatic positions, and presidents have been known to bestow the role to prominent ...

Biden pardons his son Hunter despite previous pledges not to

President Joe Biden has pardoned his son, Hunter, sparing the younger Biden a possible prison sentence for federal felony gun and tax convictions and reversing his past promises not to use the extraordinary powers of the presidency for the benefit of his family members. The Democratic president had previously said he would not pardon his son or commute his sentence after his convictions in the two cases in Delaware and California. The move comes weeks before Hunter Biden was set to receive his punishment after his trial conviction in the gun case and guilty plea on tax charges, and less than two months before President-elect Donald Trump is set to return to the White House. President Joe Biden has pardoned his son, Hunter, sparing the younger Biden a possible prison se...

Elon Musk dealt $155 billion blow by judge over Tesla pay package

Elon Musk's record-breaking pay package for serving as Tesla's CEO was rejected by a Delaware court, despite being approved by Tesla shareholders at a June meeting. The pay package, now worth around $101 billion (approx $AUD155 billion) based on Tesla's closing share price Monday, is made up of 303 million Tesla stock options. It had been previously thrown out in January by the same judge, Delaware Chancery Court Chancellor Kathaleen McCormick. Elon Musk's $155 billion-dollar pay packet has been blocked by a judge. (CNN) The package was worth around $56 billion ($A85 billion) at the time the judge threw out the package. At the time, McCormick ruled in favour of the main shareholder in the suit who challenged the package, arguing that Musk and the Tesla bo...
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