June 18, 2026

06 Market

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Excerpt from www.independent.co.uk

Disney’s Splash Mountain, the original ride, was themed to the “Song of the South,” which contained racist stereotypes, the Associated Press reports. Criticisms about the ride’s racist themes came to a head in 2020, following the murder of George Floyd at the hands of a white Minneapolis police officer.

To date, it is the only movie removed from Disney’s catalog due to criticisms that it contains racist themes, The Daily Beast reports.

The new ride, Tiana’s Bayou Adventure, is based on “The Princess and the Frog” and will open this summer. The move has received widespread praise, with many pointing out how meaningful it is to see Black women represented through Princess Tiana.

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Excerpt from www.nytimes.com

When former President Donald J. Trump was convicted in his New York criminal trial, it took Gov. JB Pritzker of Illinois about 19 minutes to fire off a statement calling him a felon, a racist, a homophobe and a grifter.

Only one other Democratic governor issued a statement that night about Mr. Trump’s conviction, and the Biden campaign’s response — which came one minute after Mr. Pritzker’s — focused on what Mr. Trump would do as president rather than on the verdict.

Since then, as the Democratic Party and the Biden campaign have wrestled with how to wield the conviction to their advantage, Mr. Pritzker has emerged as the chief amplifier of Mr. Trump’s felon status.

Unlike other top surrogates who have followed Mr. Biden’s lead and kept the focus on Mr. Trump’s policies rather than his conviction, Mr. Pritzker has blazed his own trail of Trump insults — to great cheers from fellow Democrats who are hungry to attack.

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Excerpt from www.avpress.com

When former President Donald Trump agreed to address a conference hosted by an organization that opposes abortion in all circumstances, President Joe Biden’s campaign cited the appearance as evidence of Trump’s extremism on the issue. But in his brief recorded remarks at the Danbury Institute’s Life & Liberty Forum in Indianapolis on Monday, Trump did not explicitly mention abortion at all, although he paid lip service to the value of “innocent life.”

That episode reflects the dilemma Trump faces as he tries to retain the support of pro-life activists without alienating voters who reject the hardline position of groups like the Danbury Institute. Trump has staked out a mushy middle ground that is more consistent with public opinion, even as he brags about his role in overturning Roe v. Wade and describes himself as “the most pro-life president in American history.”

The state of Indiana has passed a bill to end the sale of land to the CCP, the Chinese Communist Party, a bill that was passed and signed after a CCP-connected company was caught trying to buy land. The company that was identified was Fufeng who had just attempted to purchase land in Grand Forks, North Dakota but had to exit the deal after the U.S. Air Force issued a memo referring to the company as a “significant threat to national security.”

The exposure led to more discoveries of CCP purchases of land in Indiana that seems to have resulted from an intentional concentration on the state by the CCP. The network of CCP-connected companies was built under the Indiana Economic Development Corporation, The website openly states it exists to connect Chinese American entrepreneurs with Chinese-owned businesses to come in partnership with one another.

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Excerpt from thefederalist.com

Indiana’s speedy passage of House Bill 1183 in March, prohibiting certain land sales to companies from China and other adversarial countries, has halted a pending real estate deal with the China-owned company Fufeng, according to LaPorte County Assessor records. Fufeng was looking for real estate in Indiana after being booted out of Grand Forks, North Dakota, following a U.S. Air Force memo that called it a “significant threat to national security.”

Fufeng managed to implant itself in North Dakota with a land purchase before being tarred and feathered out of the state. Fortunately, it was legislated out of Indiana — for now.

Fufeng’s short-lived appearance in Indiana was a smoking gun. What else is going on? The Indiana Economic Development Corporation (IEDC), an unelected upgrade to the traditional commerce department, helps select and develop businesses in Indiana. The IEDC has set up many China-owned companies in the state, including 25 currently operational, according to the IEDC general counsel.

The trend of China-based companies in Indiana has not developed organically but through centralized planning with the help of a Chinese Communist Party-linked nonprofit. A contract on the IEDC’s website shows that it has been paying the America China Society of Indiana (ACSI) to facilitate deals with China-owned businesses. The contract outlines IEDC’s interest in “identifying and creating a pipeline of [foreign direct investment] prospects in China” and preparing trip itineraries, among other tasks.

A state contract to fill a requested “pipeline” of China-owned businesses wishing to engage in foreign direct investment, including the purchase of U.S. land, is concerning. The 2017 National Intelligence Law of the People’s Republic of China directs that “any organization or citizen shall support, assist, and cooperate with the state intelligence work” and “state intelligence work institutions shall collect and handle the acts or acts of foreign institutions, organizations, and individuals….”

In other words, China-owned companies operating in the United States are expected to collect intelligence on the United States. Further, most large Chinese companies, especially those allowed to expand into the United States, have CCP members or even party committees within them ensuring loyalty to the CCP’s goals.

Beyond the concerns with Chinese companies taking root in the United States, an organization such as ACSI introduces additional issues when attached to state-level government. ACSI has implemented a series of influence operations and public relations events that may have compromised state decision-making through pressure, gain, or both.

You Will Know Them by Their Fruits

ACSI’s 2018 board of directors paints a picture of the IEDC’s exposure to CCP influence.

  • A member of the IEDC is on the board, guaranteeing that the IEDC is not only aware of, but actively has influence in, ACSI’s activities.
  • Westfield Outdoors is one of the China-owned businesses that ACSI brought in as part of the “pipeline.” Westfield Outdoors, along with other China-owned businesses, is one of ACSI’s member sponsors, which in turn influence businesses ACSI recommends to Indiana.
  • Dr. Zao (Joe) Xu, founder of the Confucius Institute at Indiana University-Purdue University Indianapolis, was on the ACSI board until 2018. The U.S. government defunded Confucius Institutes (CI) following expert testimony identifying CI as part of a CCP influence operation. The Confucius Institute at IUPUI closed in 2019 along with nearly all others in the United States.

A board that convenes Indiana government representatives alongside CCP-linked influence operators and oversees a society whose members include China-owned businesses with an intel-gathering mission is a recipe for compromised decision-making.

The Deepening

In 2019, Indiana Governor and IEDC Board Chairman Eric Holcomb took a trip to China likely arranged by ACSI “to renew the Indiana-Zhejiang sister-state relationship” established back in 1987. The Indiana legislature has since banned sister-city agreements with China, so Holcomb had to sign a bill that deeply criticizes the same kind of agreement he celebrated just five years ago.

During that trip, Holcomb visited with the president of the China People’s Association for Friendship with Foreign Countries (CPAFFC), known as the “‘public face’ of the CCP’s United Front Work Department.”

In contrast to ACSI’s description of CPAFFC as “focused on deepening international friendships,” the CPAFFC’s mission in its own words is “to make the foreign serve China.” This stunning whitewashing is readily available on Wikipedia.

Why did Indiana’s governor meet with the leader of the part of the CCP’s influence operation concerned with making other countries serve China? ACSI would have added the CPAFFC stop to the itinerary as part of its role arranging IEDC’s China-bound trips, at the direction of the CCP. It is possible that Holcomb thought he was innocently “deepened” by a nice lady with a panda plate. But from the CPAFFC’s and CCP’s point of view, he declared his subservience.

‘Mask Diplomacy’

During early Covid days, China hoarded masks while companies like MyPillow diverted production to manufacturing masks for donation. Then China decided it was time to share. ACSI worked diligently to ensure Indiana participated in the geopolitical phenomenon later coined “Mask Diplomacy.”

Mask diplomacy, the CCP’s effort to look generous and deflect suspicions that Covid came from the Wuhan Lab, involved distributing small quantities of masks for a photo op. Indiana was among the favored states and countries to receive the honor of free masks, per the July 2020 news story on ACSI’s website.

In reality, this publicity stunt was a favor the CCP called in, likely among those trusted partners who have pledged allegiance to the CCP’s head of foreign submission (the CPAFFC) and could be counted on to promote this effort. With both the general public and the carefully selected recipients, the self-serving “favor” was an investment that would be expected to produce a return.

To the recipients, it was likely a nuisance. In context, 100,000 masks is a very small number. The IEDC reported in 2020 with macabre glee that it took fiduciary charge of spending $49 million on 27 million masks for the state, the smallest order of which was 1 million masks. The Chinese gift came with a very detailed receipt — the only mention of this event on IEDC’s website:

The IEDC likely had little “desire” for such a small quantity of masks, other than to satisfy the CCP’s desire to give masks and take credit. But in doing so, the state of Indiana (through its contractor ACSI) accepted a public gift from the Zhejiang Provincial Government of the CCP with an approximate value of nearly $200,000. What are the odds that the CCP would parlay that “favor” into a return gesture?

Far-Flung Fufeng

These are some of the more interesting elements within a long pattern of CCP-linked business development activities, advertised little if at all by the IEDC. It may also explain why the IEDC accepted the disgraced Fufeng earlier this year after its Department of Defense-directed expulsion from North Dakota.

Will the IEDC cancel its contract with ACSI for a “pipeline” of China-based companies in light of the HB 1183 restrictions? Do other states have similarly low-profile links to the CCP buried deep within unelected departments? The nearly two-thirds of all U.S. states currently advancing anti-China bills similar to HB 1183 may be doing so at odds with influence operations hidden within their own governments.


Vanessa Battaglia is a defense engineer with experience designing software, hardware, and airborne systems for the Army, Navy, Air Force, Space Force, Special Operations Command, and the Federal Aviation Administration.

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Following the retail apocalypse of 2023, 2024 is looking to be even worse, with the year-over-year comparison showing a 5.2 percent increase in store closures this year over last year.

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Excerpt from trendingpoliticsnews.com

The retail apocalypse of 2023 has continued in 2024, with thousands of stores across the United States set to shut their doors. Under President Joe Biden’s administration, the economic strain on the retail sector has only deepened, leading to a retail bloodbath.

Major retailers, including Macy’s, Walgreens, CVS, Family Dollar, Walmart, and 7-Eleven, have announced significant closures. A staggering 2,599 store closures are planned for this year, marking a 2.5% increase from the same period last year, according to the DailyMail. The closures reflect the persistent struggles brick-and-mortar stores face amid rising costs and shifting consumer habits.

Family Dollar and the bankrupt 99 Cents Only stores are among the hardest hit, with discount retailers particularly vulnerable in the current economic climate. The discount sector, often seen as a lifeline for low-income families, is reeling from the losses. The 99 Cents Only chain’s bankruptcy has already led to the planned shuttering of numerous stores, though a recent acquisition by Dollar Tree has saved 170 locations from closure.

Waterford, Pennsylvania, USA August 1, 2023 Two storefronts together, a Family Dollar and a Dollar Tree in a strip mall on a sunny summer day

Retail experts point to a variety of factors contributing to the closures, including increased competition from online retailers, rising operating costs, and changing consumer preferences. However, the Biden administration’s economic policies have exacerbated the situation, creating an environment where traditional retailers struggle to survive. The planned closures represent lost jobs, deserted shopping centers, and communities grappling with reduced access to essential goods and services. For many Americans, the closure of the stores is a reminder of the challenges facing the retail sector and the economy.

“A lot of this year’s closures are related to bankruptcies of chains that have been in trouble for a while, like Rite Aid and Rue21,” Neil Saunders, managing director of GlobalData, said to CBS. “We’re also seeing several retailers, like Family Dollar, take action to weed out underperforming locations.”

This year has already seen nearly 3,200 retail store closures, a 24% increase from last year, as reported by CoreSight, a firm that monitors retail activity in the U.S. In contrast, store openings are down by 4%, with many major chains holding back on expansion plans.

New Hartford, New York – Nov 23, 2023: Rite Aid Pharmacy storefront, is a well-known American pharmacy chain that provides a range of health and wellness products with over 2500 locations nationwide.

Driving these closures are several factors, including shifts in consumer behavior, management difficulties, and a spate of bankruptcies affecting companies like Rite Aid and Rue21. Notably, Dollar Tree announced the closure of over 600 Family Dollar stores, attributing the decision to inflationary pressures on shoppers and a rise in shoplifting incidents. While some retailers are still planning to open new locations, the overall trend points to a more cautious approach in the industry.

Amid the highest inflation rates seen in decades, many consumers have felt the financial squeeze. “Persistent inflation and reduced government benefits continue to pressure the lower-income consumers that comprise a sizable portion of Family Dollar’s” customer base, CEO Rick Dreiling said on a Wednesday call.

As the retail landscape continues to evolve, the impact of some closures could be felt across the country.

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Excerpt from buenosairesherald.com

Argentina’s Central Bank renewed a US$5 billion tranche of the currency swap it has with its Chinese counterpart, US$3 billion of which matured in June and the rest in July. Now, Argentina will have to start paying the maturities in 2025 and over 2026.

Media reports cast doubt over the Argentine administration’s ability to renegotiate the swap, as President Javier Milei is facing a diplomatic row with China and Foreign Ministry Diana Mondino’s future in the cabinet is uncertain. If the government had failed to renew the deal, it would have had to pay US$5 billion between this month and the next.

The South American country’s monetary authority released a communiqué on Wednesday stating that, together with the Central Bank of the People’s Republic of China, it had renewed the swap for the next 12 months.

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Excerpt from www.breitbart.com

FedEx will eliminate up to 2,000 jobs in Europe as part of a cost-cutting drive in response to lackluster demand, the shipping company announced Wednesday.

The company, which is based in the southern state of Tennessee, said the targeted positions will cover back-office and commercial functions.

The plan is to eliminate between 1,700 and 2,000 jobs “subject to local law and consultation processes,” the company said, adding that the process will unfold at a country-by-country level “with differing timelines across the region.”

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Excerpt from www.americanprogressaction.org

 

We know that “privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,” according to The Washington Post, even as corporate profits hit near record highs in 2023. The Post also reported that “Trump’s advisers…have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to as low as 15 percent.” As antitax advocate Grover Norquist told The Post, “‘I would be very surprised’ if he abandoned the push for lower corporate taxes…‘All the people advising him before for sure think the 15 percent is where we need to go.’”

Corporations do not make their tax returns public so we cannot know the precise size of each corporations’ tax cut from a 15 percent corporate tax rate. Financial filings, however, provide some clue about which corporations pay the most in U.S. corporate taxes and would benefit the most from the lower tax rate.

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Excerpt from www.ksat.com

UVALDE, Texas – Families of survivors of the Uvalde school shooting are suing FedEx and United Parcel Service (UPS) for shipping a gun and a device used by the gunman on May 24, 2022, claiming the companies violated safety standards and caused trauma.

The lawsuit claims the shipping services “abrogated various federal and state laws designed to protect school children from mass shooters” by transporting an AR-15-style rifle and Hellfire trigger, according to TPR and the Texas Tribune.

The families are seeking punitive and exemplary damages, believing FedEx and UPS were negligent and “reckless” with the shipments and caused physical and emotional distress.

The 18-year-old gunman used the rifle and Hellfire trigger, a device similar to a bump stock that allows a semi-automatic rifle to fire at a near-automatic rate, when he stormed Robb Elementary School and killed 19 students and two teachers.

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Excerpt from amp.theguardian.com

What’s the point of owning the Washington Post if it’s no longer the Washington Post? By that, I mean the iconic US newspaper whose storied reputation is based on holding powerful people and institutions accountable, all for the sake of democracy? The paper that broke the Watergate story, thus helping to unseat a corrupt president, and that, following the New York Times, riskily published the Pentagon Papers?

When Jeff Bezos bought the Post in 2013, it was struggling financially, and its future was uncertain. The billionaire’s ownership not only restored the paper to profitability for several years, but allowed it to regain its prominence. While setting an ambitious tone for technical transformation, he properly kept his hands off the journalism, letting legendary editor Marty Baron do his job.

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Excerpt from www.azfamily.com

PHOENIX (AZFamily) — A federal grand jury indicted a man from Prescott on Tuesday for selling guns for use in a planned mass shooting at a crowded concert in Atlanta.

Mark Adams Prieto, 58, is facing several charges relating to planning an attack at a Bad Bunny concert at State Farm Arena in May. He planned to target African American and other minority concert-goers in order to incite a race war before the 2024 US Presidential Election, an FBI Phoenix Field Office spokesperson said.

The indictment against Prieto alleges that he discussed the plan with two undercover FBI agents between January and May this year. He did not know the agents were undercover and instead thought they shared his extreme beliefs and wish for a race war.

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Excerpt from www.foxnews.com

Drew Johnson has won the Republican primary in the battleground 3rd Congressional District and will face incumbent Democrat Susie Lee in what is expected to be a tough general election fight.

The Associated Press called the race for Johnson early Wednesday morning. The outcome is an upset victory for the candidate, who faced stiff competition in a crowded field of Republican rivals, including former Nevada state Treasurer Dan Schwartz and former Nevada state Sen. Elizabeth Helgelien.

“I’m honored to earn the trust and support of Republican primary voters in Nevada’s crucial 3rd Congressional District. The pundits didn’t give us a chance, but we outworked our opponents and overperformed expectations,” Johnson said in a statement.

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Excerpt from www.cbc.ca

U.S. inflation eased last month in a hopeful sign that an uptick in prices from earlier this year may have passed. The trend, if it holds, could move the Federal Reserve closer to cutting its benchmark interest rate from its 23-year peak.

Consumer prices excluding volatile food and energy costs — the closely watched “core” index — rose 0.2 per cent from April to May, the government said Wednesday.

That was down from 0.3 per cent the previous month and was the smallest increase since October. Measured from a year earlier, core prices rose 3.4 per cent, below last month’s 3.6 per cent increase.

Fed officials are scrutinizing each month’s inflation data to assess their progress in the fight against rising prices. Even as overall inflation moderates, necessities such as groceries, rent and health-care are much pricier than they were three years ago — a continuing source of public discontent and a political threat to President Joe Biden’s re-election bid.

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Excerpt from watcher.guru

Ace investor Warren Buffett has mastered the art of earning profits in both the bull and bear markets alike. He’s taken bets and earned billions of dollars in the last eight decades gaining him the name ‘Oracle of Omaha’. The stock market titan has a net worth of $135 billion making him the 10th richest person in the world. In recent years, Warren Buffett’s investment firm Berkshire Hathaway has accumulated millions of Apple shares (AAPL) since 2016.

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Excerpt from otakucart.com

Supreme Court Justice Samuel Alito stepped back from a big case involving major oil companies. This case, known as “City and County of Honolulu v. Sunoco et al.,” began with a ruling from Hawaii’s highest court. That ruling said that state laws could hold big oil and gas companies accountable for hiding their impact on climate change, even if federal laws don’t. Alito decided not to be involved, likely because he owns stock in some of these energy companies.

In response to this case, the U.S. Supreme Court has requested the U.S. Office of the Solicitor General to submit a brief expressing the government’s views. Chevron, one of the defendants in the case, emphasized the importance of Supreme Court review, asserting that state and local lawsuits against Big Oil violate federal law and interfere with energy policy.

Supreme Court Justice Samuel Alito

Numerous lawsuits against major fossil fuel companies have been filed by attorneys general, municipal governments, and tribal governments, alleging deception regarding climate change impacts. Justice Alito’s recusal is linked to his ownership of stock in companies involved in these suits, such as ConocoPhillips and Phillips 66.

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Excerpt from www.cnbc.com

Elon Musk on Tuesday withdrew his lawsuit against OpenAI and two of the company’s co-founders, Sam Altman and Greg Brockman, in California state court. Musk’s decision to file to dismiss the suit came just one day after he publicly criticized OpenAI and its new partnership with Apple.

The case was dismissed without prejudice, according to a court filing obtained by CNBC.

In February, Musk had filed a lawsuit against OpenAI, Altman and Brockman — the current CEO and president of OpenAI, respectively — for breach of contract and fiduciary duty.

A hearing was scheduled for Wednesday in San Francisco, in which the judge was going to consider whether the case should be dismissed as requested by the defendants.

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Excerpt from www.forbes.com

X owner Elon Musk confirmed Tuesday that the social media platform formerly known as Twitter will start automatically hiding users’ likes, saying it’s “important to allow people to like posts without getting attacked for doing so!”

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Excerpt from autogear.pt

The European Commission threatens to increase tariffs on imports of electric vehicles from China by the European Union (EU) starting from July 4, after provisionally concluding that Beijing is benefiting Chinese manufacturers with “unfair subsidies, which is causing an economic threat to EU electric vehicle producers”.

In a statement, the community executive indicated that, provisionally, imports of electric vehicles from BYD will be subject to a 17.4% tax, Geely to 20%, and SAIC to 38.1%, these being the brands included in the investigated sample.

Based on the findings of the investigation, the Commission has provisionally established that it is “in the interest of the EU to remedy the effects of the detected unfair trade practices by imposing provisional countervailing duties on imports of electric vehicles from China”.

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Excerpt from www.cbs8.com

The decision stems from litigation filed by numerous pro-gun plaintiffs, including one that operated gun shows at the Del Mar Fairgrounds and other locations.

SAN DIEGO — The 9th U.S. Circuit Court of Appeals Tuesday upheld California laws barring gun and ammo sales on state property such as the Del Mar Fairgrounds.

Tuesday’s decision stems from litigation filed by numerous pro-gun plaintiffs, including B&L Productions Inc., which operated gun shows at the Del Mar Fairgrounds and other locations.

One such lawsuit over gun sales prohibitions at the Del Mar Fairgrounds was dismissed by a judge.

On appeal, the plaintiffs argued those laws — AB 893, SB 264 and SB 915 — are unconstitutional on First and Second Amendment grounds.

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Excerpt from freebeacon.com

China’s Da-Jiang Innovations Science & Technology Co. (DJI) stands to lose its 58 percent share of the domestic commercial drone market should the House of Representatives pass Rep. Elise Stefanik’s (R., N.Y.) Countering CCP Drones Act.

Fortunately for China’s top drone manufacturer, the company already has a workaround in place.

Enter Anzu Robotics, a one-man Texas startup that hit the market in April with drones that bear remarkable similarities to DJI’s product offerings. Anzu’s drones share the same hardware design as DJI’s. They run the same software. They’re even compatible with the same third-party accessories. The only notable difference is that Anzu’s drones come in a green chassis, whereas DJI’s are gray.

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Excerpt from www.globalcosmeticsnews.com

THE WHAT?  The Estée Lauder Companies Inc. has entered into a senior unsecured credit agreement, establishing a US$2.5 billion revolving credit facility. This new agreement, effective June 7, 2024, replaces a previous facility from October 2021 and includes provisions for multicurrency loans and letters of credit.

THE DETAILS  The agreement, signed with JPMorgan Chase Bank, N.A., and involving various lenders, provides a five-year revolving credit facility that can be extended for up to two additional years. The facility supports the company and its eligible subsidiaries, with the entire US$2.5 billion currently undrawn and available for general corporate purposes.

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Excerpt from news.sky.com

Tonight’s panel is made up of Boris Johnson’s former director of communications, Guto Harri, and a contributing editor at Novara Media, Ash Sarkar.

Asked what he makes of the Tory manifesto, Mr Harri says there is “good meaty stuff” to get people talking.

“But in the end this is about values,” he adds, namely if money is available… should you spend it on welfare or working people.

But Ms Sarkar says he has set a “low bar” by saying at least people are talking about it – saying they would even if it was “just a picture of Scrooge McDuck”.

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Excerpt from www.clickorlando.com

NEW YORK – National Amusements, which owns a majority voting stake in embattled entertainment giant Paramount Global, said Tuesday that it has ended talks on a possible merger of Paramount with movie production company Skydance Media.

The potential deal had drawn attention for weeks amid concerns about Paramount’s future given its heavy debt load and declining television business. One media report in early June even stated that Paramount and Skydance had agreed to terms of a deal, contingent only on signoff from Paramount’s controlling shareholder, Shari Redstone. A statement from National Amusements merely noted that the two sides “have not been able to reach mutually acceptable terms” for the deal.