Category: Nation World News Wires

  • Trump stands to profit from U.S. policy announcements by selling fast access to his social media posts

    Trump stands to profit from U.S. policy announcements by selling fast access to his social media posts

    NEW YORK — President Donald Trump knows the world hangs on his every word. Now he wants you to pay for it.

    The social media posts of the world’s most powerful man are going on sale Saturday when his Truth Social business begins offering sneak peeks of them to Wall Street traders willing to pay up. The move raises the prospect of big profits for Trump’s company and big questions about insider trading and using public office for private gain.

    Similar fast speed feeds are sold by other social media firms and media providers, but Truth Social doesn’t just distribute the news, it makes it, regularly rattling markets as Trump posts policy changes on everything from war to central bank leadership to tariffs.

    “If this was the CEO a public company, this would be jail time,” said Irene Aldridge, head of Able Alpha Trading, which doesn’t plan to buy the service. “We have a President of the United States who has the front seat to all the action, who makes all the decisions, and he’s disclosing this ahead of time to a select group.”

    Trump’s company says critics just aren’t capitalist enough

    Asked about the propriety of the new service and whether White House lawyers had vetted it, Trump’s press office declined to comment, referring questions to Truth Social’s publicly traded parent. That company, Trump Media & Technology, issued a statement blasting Democratic critics for mischaracterizing the service “out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information — or, quite possibly, both.”

    A prolific poster, Trump has sent stocks, bonds and currencies soaring and plunging with his online musings and threats. That presents opportunities for so-called high frequency traders that specialize in buying and selling within milliseconds, exploiting tiny, fleeting difference in prices.

    Profits aplenty betting on oil, stocks, and currencies

    Just this month, Trump has threatened on Truth Social to slap higher tariffs on Canada, kill a nuclear deal with Saudi Arabia, and widen the Iran war. With advanced knowledge, traders betting on a plunge in the Canadian dollar, a drop in nuclear energy stocks, and a jump in oil futures could have raked in big profits.

    “For the big guys, it’s going to be something they need,” said Joe Saluzzi, co-founder of Themis Trading, who estimates about 100 of high frequency firms might be willing to pay for the service. “It’s market-moving information.”

    Dubbed Truth API, the service comes as these firms are spending more on feeds and servers that bypass slower internet connections with direct lines to news and data sources. The chance for profits is greater than ever thanks to artificial intelligence’s ability to read posts and articles more accurately for market-making changes and Trump’s penchant for making news online.

    When Trump makes surprise announcements, traders pounce

    Traders profit when prices jump up and down, and with his taste for cliffhangers, threats, and policy reversals America’s first reality-TV president provides plenty of potentially market-moving content.

    The reversals are especially profitable, allowing traders to win both ways — jumping ahead of stocks moving up or down to a post threatening something, then cashing out within thousands of a second, then betting the other way.

    In addition to Trump, the service will include posts from other “high ranking” Truth Social contributors, including possibly his two oldest sons, Donald Jr. and Eric, who along with the father are heavily followed by users.

    Truth Social has said that the information will be released to the traders and the general public at the same time so there really isn’t an issue of fairness. But Themis Trading’s Saluzzi, a critic of high speed trading, says that’s a red herring because when the posts are received, not when they are released, is what matters.

    “Somebody who buys the info and has a system built to process it will be able to act quicker than you and me,” said Saluzzi, adding in reference to everyday, small stock buyers, “The loser is always the retail investor.”

    Trump posts about a company he likes, and stocks jump

    Aside from policy scoops, another reason to sign up has emerged in recent months: Trump is posting more about publicly traded companies, praising ones he likes in a way that sets off buying frenzies.

    “The pimping of specific companies — obviously Wall Street would like to know that before other people,” said Dylan Hedler-Gaudette, a federal ethics rule expert at the watchdog Project on Government Oversight. “It’s a real mess.”

    In April, moments after Trump praised Palantir Technologies in a post that included its stock symbol, the price briefly jumped the most it had in an entire year. Later that month, Trump posted, “Congratulations on Intel doing such a great job,” and the stock immediately jumped in after-hours trading.

    Just which firms are signing up for the feed is unclear. Asked for comment, none of the half dozen most well known high-speed traders, such as Citadel Securities and XTX Markets, replied. If just three sign up for the $100,000 a month fee, that would double revenue at Trump Media, which reported taking in $3.7 million last year.

    Trump Media needs big money customers

    The company can use their business.

    Stock in the Truth Social parent has plunged 75% since Trump took office last year as the company keeps reporting hundreds of millions in losses despite the president’s help driving traffic to its site by posting major decisions there.

    In fact, the president breaks news on Truth Social so often that the White House press office will copy his posts into an email when responding to questions from the media seeking details on policies. If his posts aren’t available yet, journalists are sometimes told, “Wait for the Truth.”

    Another problem for Truth Social is looming if the Democrats take control of Congress and launch investigations, as vowed by Massachusetts Senator Sen. Elizabeth Warren in a statement Friday specifically attacking the new service: “We will haul in those responsible for this open corruption to answer to the American people.”

    If the losses keep mounting for the company, though, some predict the president will push things further, using the platform even more for policy announcements.

    “That’s absolutely going to happen,” warns Craig Holman, a lobbyist for the good government group Public Citizen. “Trump knows how to sell products.”

  • Spain installs sea barrier on Ceuta’s border with Morocco after frontier rush that killed 67

    Spain installs sea barrier on Ceuta’s border with Morocco after frontier rush that killed 67

    CEUTA, Spain — Spain on Saturday installed a 1,600-foot-long barrier on the sea border between its North African territory of Ceuta and neighboring Morocco after tens of thousands of migrants breached the frontier earlier in the week.

    At least 67 migrants died, including some who drowned and others who were killed in a stampede to cross a breakwater barrier, the Spanish government said Saturday.

    Spanish Prime Minister Pedro Sánchez slammed the reaction of some other European Union leaders to the events in Ceuta, saying calls for Spain to be suspended from the EU’s borderless Schengen zone were “driven by prejudice, fake news, ignorance, or political interest.”

    A handful of exhausted migrants who swam to Ceuta’s urban Tarajal beach Saturday morning were met by soldiers who escorted them across the border. Most of the 50,000 to 60,000 migrants who entered the territory between Thursday and Friday soon went back.

    “We are relentless against those who break the law,” Spanish Interior Minister Fernando Grande-Marlaska told journalists Saturday.

    Questioned how the massive border breach could have happened given the heavy security on both sides of the border and whether Morocco posed a threat to Ceuta, Marlaska defended the government in Rabat.

    “The events require an evaluation by Spain and Morocco,” he said. But it was the cooperation with its neighbors that allowed Spain “to revert the situation in 24 hours.”

    “Morocco is not a threat to Ceuta, or to the rest of Spain. It is a reliable partner,” Marlaska emphasized.

    EU leaders call for coordinated response

    The leaders of 22 EU countries called for a coordinated response to the situation. In a letter to top EU officials, released Saturday by the Danish prime minister’s office, the countries asked the EU’s current Irish presidency to urgently convene a videoconference of interior ministers.

    “We cannot allow uncontrolled mass crossings, the instrumentalization of migration, or other hybrid threats to create the perception that illegal entry into the European Union is possible. That a migrant’s illegal entry can turn into legal stay,” the letter said. “Such a perception would encourage further attempts, undermine confidence in our common migration policy and have repercussions for all Member States.”

    Leaders of Italy, Denmark, Austria, Belgium, Bulgaria, Cyprus, Croatia, the Czech Republic, Estonia, Finland, Germany, Greece, Hungary, Latvia, Lithuania, Malta, the Netherlands, Poland, Romania, Slovenia, Slovakia, and Sweden signed the letter.

    Sánchez also asked for a videoconference of EU interior ministers to “enable us to establish a common response to situations of this kind and reaffirm that the security of our external borders is a shared responsibility of all Member States, and not only of those on the Union’s front line.”

    Italian Premier Giorgia Meloni has threatened to suspend Italy’s open-border Schengen agreement with Spain, and Italy was reimposing border controls for people arriving from Spain by air and sea.

    “In the current international context, the European Union cannot afford this kind of selfish, polarizing, and unlawful reaction,” Sánchez wrote in his letter.

    Migrants head back into Morocco

    Hundreds of migrants returned to Morocco on Saturday. Some told an Associated Press reporter they were returning “of their own free will” after what they described as degrading treatment on the Spanish side of the border.

    Migrants walked along a long stretch of wave breakers before slipping into Morocco through a small breach in the border fence that had become an informal entry point. Moroccan police and soldiers watched. Most of the migrants were Moroccans, while a smaller number were from sub-Saharan Africa.

    Hungry and angry, some barefoot or shirtless and others nursing visible injuries, those who returned said they had “seen hell in Ceuta.”

    “I decided to come back on my own,” said Ouail Lamzeiz. “I spent eight days in Ceuta, and I was about to get a bed at the migrant center, but I hadn’t eaten for days. Even the Moroccans there didn’t help,” he added, showing a document supporting his account.

    His friend, Salah Eddine El Arrage, said he decided to return to Morocco after, he said, Spanish police beat him.

    Migrants said they spent their nights sleeping in the forests around Ceuta because they could not find shelter, and that they often fought over food.

    One, Othmane El Merzoug, asked passersby for a phone call so he could reach his family and ask them to send money for the journey back to his hometown, about 189 miles from the border.

    Along Ceuta’s Tarajal beach, sunbathers largely ignored the streams of migrants walking toward the border.

    Ceuta resident Mohamed Abdelatif, 21, said the border rush had ruptured the city’s peace.

    “The reality is, it’s not good,” Abdelatif said, before wading into the water with his girlfriend.

    The road linking the Moroccan town of Fnideq to the border crossing bore the scars of the unrest. Burned-out vehicles sat along the roadside, while the acrid smell of smoke still hung in the air. Police barriers channeled traffic toward the crossing, and water cannons remained stationed nearby.

    “Life in this city has been disrupted as a result of the border incident,” said Ceuta President Juan Jesús Vivas. “The return of people has begun satisfactorily but the process must be completed.”

    In the Moroccan city of Tangier, about 46 miles west of Ceuta, the main railway station was busy with people returning. Some slept on the ground.

    “I tried to cross, but I failed. I stayed near the border with Ceuta for two days, but I couldn’t find anything to eat,” said Abdalah, an aspiring migrant who asked that his last name not be published out of fear of retaliation for trying to cross illegally.

    But some who made it to Ceuta were determined to stay. Among them was Mohamed Hatri, a 23-year-old Moroccan.

    “They’ve closed everything down so that we can’t buy anything to eat, to force us to return to our country,” he said, adding that he and others were determined to stay “whether we’re hungry or not.”

  • Trump’s threat to push ahead on settlement fund injects new uncertainty into attorney general talks

    Trump’s threat to push ahead on settlement fund injects new uncertainty into attorney general talks

    WASHINGTON — President Donald Trump on Saturday threatened to push forward with a fund to compensate his allies if two Republican holdouts will not support his nominee for attorney general, injecting fresh uncertainty into a Senate confirmation vote planned for next week and underscoring once more his interest in securing payouts for supporters who feel unjustly persecuted.

    Trump asserted in his Truth Social post that he would keep acting Attorney General Todd Blanche in his current role and press ahead on the “Anti-Weaponization Fund” if Sens. John Cornyn of Texas and Thom Tillis of North Carolina refuse to back the former federal prosecutor who was a key member of Trump’s defense team when the Republican battled four indictments.

    The administration needs their votes but both lawmakers have protested Blanche’s selection because of a lawsuit settlement that created a $1.8 billion fund to compensate people who feel mistreated by the criminal justice system and provided Trump and his family members with immunity from tax audits.

    In a sign of apparent progress Friday, Trump pronounced the fund “dead.” As negotiations continued into the night, the chairperson of the Senate Judiciary Committee, Sen. Chuck Grassley, rescheduled a committee vote for Blanche that had been postponed earlier in the week.

    A spokesperson for the committee said Grassley (R., Iowa) would like to see Blanche confirmed before the August recess and that putting the Tuesday vote on the calendar “gives more time for the White House to secure the votes for the President’s nominee.”

    But by Saturday morning, those plans were in jeopardy with a new announcement from Trump that appeared to put the fund back on the table — and dinged the two senators who are leaving Capitol Hill when their terms end in January.

    “If Senators Cornyn and Tillis, both upset because I wouldn’t Endorse them (they lost, and quit, respectively!), aren’t going to approve Todd Blanche, one of the most respected professionals, according to everybody, in the Country, to be the United States Attorney General, then I will keep Todd as Acting A.G., and push hard” to restore the fund. The president insisted, as he previously has, that the fund “takes care of those who have been so badly treated” during the administrations of Democratic Presidents Barack Obama and Joe Biden.

    Tillis, who is retiring, took note of the president’s turnabout by saying in a post on X that despite Trump’s comments Friday, he “clearly intends to resurrect the payout pot for punks either by inappropriately establishing another bogus fund or pushing Congress to vote for a bill that the majority of Republicans in the Senate would be against.”

    He added: “It’s unfortunate that Todd Blanche, who I consider qualified for the job, will not be confirmed because of this reversal. Hopefully, we can resolve this by Tuesday.”

    Blanche had said at a hearing two months ago that the anti-weaponization fund would not move forward after Republican senators revolted and held up an immigration funding bill.

    But Tillis and Cornyn, who lost reelection this year after Trump endorsed his primary opponent, said they want to ensure that the White House does not reverse course, especially as Trump continues to argue that a fund is needed.

    The Department of Justice has provided the senators with language that says Blanche’s May 18 order establishing the “Anti-Weaponization Fund” is “rescinded and shall have no force or effect,” according to a document reviewed by the Associated Press.

    Cornyn and Tillis have said they also want some clarifications on a separate piece of the settlement that would grant Trump and members of his family immunity from tax audits. Cornyn said this week that it was his understanding that the audits could extend to more than 100 different Trump organization subsidiaries into the future.

    “Todd Blanche said it was limited to the parties to the litigation — and it was retrospective, not prospective,” Cornyn said. “And all we’re doing is asking them to put that in writing.”

  • SEC, Big Ten add long-missing support to college sports bill and revive its chances in the Senate

    SEC, Big Ten add long-missing support to college sports bill and revive its chances in the Senate

    The Big Ten and Southeastern Conference agreed Friday night to support the Protect College Sports Act, a Senate bill that seeks to regulate college sports, ending a breakneck week of negotiations and pulling the bipartisan measure out of what looked like a certain death spiral.

    School presidents from both conferences voted to back the bill after receiving last-minute concessions over language regarding third-party name, image, and likeness deals and the so-called “associated entities” that often make those arrangements.

    More details need to be worked out, but the bill still has a chance to earn the 60 votes it needs to halt debate and head to an up-or-down vote before the Senate heads for summer break next Friday.

    The summer recess was increasingly looking like a hard deadline for the Protect College Sports Act, a bipartisan effort headed by Sens. Ted Cruz, R-Texas, and Maria Cantwell, D-Wash.

    After the conferences, which had balked at large sections of the bill, put out a short release announcing they supported the act “as currently drafted,” Cantwell went on social media and said: “Good. Now progress can be made in protecting women and Olympic athletes and moving the legislation closer to the President’s desk.”

    President Donald Trump, who also has been seeking fixes for an industry that now pays its players millions, got involved late Thursday, which helped push the parties back to the negotiating table.

    Cody Campbell, the Texas Tech regent who has played a big role in shaping this policy, called the SEC and Big Ten support “a major breakthrough that moves us closer to a Senate vote — and a better future” for college sports.

    Increased salary cap, new language entice holdouts

    The most groundbreaking part of the reworked deal is the $27.5 million that schools would be allotted to retain players, in addition to the existing $21.3 million cap.

    It could represent a major reworking of the House v. NCAA settlement, which governs paying players. The idea is that the extra money will take the place of payments from “associated entities” that were allowed beyond the $21.3 million cap. It was those payments that, many schools complained, obliterated any idea of a cap or controlled cost.

    The SEC and Big Ten sought stronger language in the bill to guarantee that any third-party deals are truly outside deals and not coming from the schools’ multimedia-rights partners, which currently broker the majority of those deals.

    Among the questions still unanswered are whether the new cap will comport with the House settlement, which had specific instructions about the hard cap (22% of a certain part of revenues, which equals $21.3 million this season), and what would happen to the College Sports Commission, the main NIL enforcement arm that spends the bulk of its time analyzing third-party NIL deals.

    Long road remains

    Even with Friday night’s victory, the bill has a long road ahead. Sen. Tommy Tuberville, R-Ala., has been a staunch opponent of the bill since the beginning. Before the latest compromise, Sen. Bill Cassidy, R-La., said that “as written today,” the act “creates chaos and eliminates opportunity for student-athletes.”

    Whether the SEC’s approval is enough to get those senators and others from SEC states on board is one issue. If the bill clears the Senate, it would still then need to pass the narrowly divided House, which flailed on another college bill called the SCORE Act, for more than a year.

    There’s also the matter of whether smaller conferences, long in favor of the bill, will remain so now that their bigger competition is being allowed to directly pay players up to $48.8 million.

    Other court rulings

    Almost everyone in college sports agrees that the status quo isn’t working.

    The news about the bill broke only hours after the NCAA lost a pair of key court cases involving its new rule that would give most Division I athletes five years to complete five seasons of eligibility.

    Using those losses as another chance to urge for passage of the bill, NCAA President Charlie Baker said “It is long past time leaders across college sports call for the immediate passage of the bipartisan Protect College Sports Act.”

    Two-time national champion hoops coach Dan Hurley of Connecticut used social media to outline the stakes in more colorful terms: “Somebody please come and fix College Sports. It’s a complete [expletive] show,” he said, using an emoji where the expletive would go.

  • Jurors in Lindsay Clancy’s trial visit the home where she killed her children

    Jurors in Lindsay Clancy’s trial visit the home where she killed her children

    DUXBURY, Mass. — Jurors walked through the Massachusetts home where Lindsay Clancy strangled her three children, a rare visit Friday that let them see firsthand the place where an outwardly ordinary family life unraveled into tragedy.

    After being driven past two businesses relevant to the narrative of the January 2023 killings, jurors were escorted in groups of six to view the inside of the house, including the basement where the children died. During the roughly 40-minute visit, the jury also saw the yard where Clancy was found after jumping from a second-story window.

    Journalists were kept away by a police barricade, but court officers could be seen through the trees escorting jurors to and from the bus along the site of the Clancy family’s former driveway. The home now has a new owner.

    Clancy herself did not attend the visit to the home, which she hasn’t seen since the day of the killings. Her lawyers argue she was in the grip of postpartum psychosis, a rare mental illness linked to the stress, sleep deprivation, and hormonal changes that follow childbirth.

    Jurors in U.S. criminal cases often are expressly told not to visit the scene of the events in question. There are a number of rationales for not doing so — among other things, the site may have changed in the interim between an alleged crime and a trial.

    But courts sometimes allow juries to make a supervised excursion as a group, for reasons that can include assessing distances or features that aren’t thought to come across fully in photos.

    Such excursions have happened in a number of high-profile cases, including the 2023 murder trial of South Carolina attorney Alex Murdaugh, the 2022 sentencing trial of Parkland, Fla., school shooter Nikolas Cruz, the 2015 Massachusetts murder trial of former New England Patriots player Aaron Hernandez, and the 1995 murder trial of O.J. Simpson.

    Jurors in Clancy’s trial retraced the route her then-husband, Patrick Clancy, took when she asked him to pick up takeout food and medicine for daughter Cora on the night of the killings. He returned to find the children dead and his then-wife badly injured and bleeding in the yard.

    The panel was driven past the restaurant — about 5.5 miles from the family’s former home in Duxbury, a town south of Boston — and the pharmacy, about a mile from the house.

    Prosecutors say the errands were a ruse to get her husband out of the house. They say Lindsay Clancy, a former labor and delivery nurse, acted intentionally and is criminally responsible for the deaths of children Cora, 5; Dawson, 3; and Callan, 8 months.

    Her lawyers don’t dispute that she killed the children, but they say she had bipolar disorder and her condition worsened while she was on antidepressants prescribed after the birth of her third child. She believed a voice was telling her to “kill the children so you can kill yourself,” according to her lawyers.

    Lindsay Clancy remains paralyzed from the waist down after using multiple methods to try to end her life that night.

    If convicted of murder, she faces life in prison without parole. If found not guilty due to a lack of criminal responsibility, she would be committed to a state mental health facility.

  • U.S. stocks rise to finish a wild July as Amazon soars, Apple sinks, and inflation worries worsen

    U.S. stocks rise to finish a wild July as Amazon soars, Apple sinks, and inflation worries worsen

    NEW YORK — U.S. stocks rose Friday to finish a wild July for Wall Street as Amazon leaped, Apple sank, and rising oil prices worsened worries about inflation staying high.

    The S&P 500 climbed 0.7% after veering between gains and losses through the day. The Dow Jones Industrial Average added 276 points, or 0.5%, and the Nasdaq composite rallied 1% after briefly losing all of an early 1.3% jump.

    It’s a fitting finish to July for the U.S. stock market, which lurched up and down as oil prices shot higher because of the war with Iran and worries grew about whether Big Tech’s massive investments in artificial-intelligence technology will translate into profits and whether chipmaker stocks soared too high in the euphoria around AI.

    Friday’s gains sent the S&P 500 to its first winning week in three, but the main measure of the U.S. stock market nevertheless finished the month with a tiny loss.

    Amazon led the market with a leap of 15.3% after reporting much stronger profit for the latest quarter than analysts expected. Its profit more than tripled from a year earlier, thanks in part to an acceleration of growth in its cloud computing business.

    Analysts said that could be a signal Amazon’s huge AI investments are paying off, and Amazon increased its forecast for how much it will spend on investments this year.

    The reaction was similar to what Microsoft got a day before, when its stock soared to its best day in nearly 18 years on signals that its AI investments may also be yielding higher profits.

    Chip companies selling the processors and computer memory that such “hyperscalers” are scrambling to buy swung sharply again on Friday. Micron Technology, for example, went from an early jump of 6.4% to a loss of 6.5% before finishing with a fall of 5.9%.

    More firmly on the losing end of Wall Street was Apple, which dropped 7.4% despite reporting stronger profit for the latest quarter than expected. Its forecast for revenue growth in the current quarter fell short of expectations, which executives pinned on a supply crunch in components getting vacuumed up in the AI boom.

    All told, the S&P 500 rose 52.09 points to 7,489.72. The Dow Jones Industrial Average added 276.97 to 52,485.03, and the Nasdaq composite climbed 251.68 to 25,373.85.

    The gains came despite another rise in oil prices as uncertainty continues about when the war with Iran will allow crude to flow freely again from the Middle East.

    The price for a barrel of Brent crude rose 1.2% to settle at $87.93 after careening between $72 and $102 earlier in July.

    Higher oil prices have pushed the cost for a gallon of regular gasoline to an average of nearly $4.11 across the United States, up from $3.85 a month ago, according to AAA. More expensive oil also puts upward pressure on prices for virtually every product that rides on a ship, plane, or truck before getting to a customer.

    The worries about inflation sent yields in the bond market even higher.

    The yield on the 10-year Treasury rose to 4.71% from 4.68% late Thursday and from just 3.97% before the war with Iran sent oil prices shooting higher. That’s a notable move for the yield, which moves higher when investors’ expectations for inflation, economic growth, and other factors in upcoming years are rising.

    The leap for the 10-year yield has already sent the average long-term U.S. mortgage rate to its highest level in a year.

    Longer-term yields jumped on Wednesday after the Federal Reserve’s chairman, Kevin Warsh, promised again to get inflation back down to 2% but refused to say how he plans to get it there. The Fed voted again to keep its main interest rate steady on Wednesday, even though inflation remains well above 2%.

    Hikes to rates by the Fed could restrain inflation, but they could also slow the economy and undercut prices for stocks and other investments. President Donald Trump, who nominated Warsh to lead the Fed, has lobbied for lower interest rates instead of higher.

    Warsh has told financial markets that he does not want to give hints about what the Fed will do with interest rates, saying he wants to get direct, “unfiltered” messages from them rather than echoes back of what the Fed has suggested.

    “The Fed is facing a growing credibility problem,” economists at Bank of America wrote in a report. Unless data comes in showing less pressure on inflation in the interim, “it is imperative for the Fed to pass the September test by hiking rates and delivering an internally consistent narrative.”

    AP Business Writers Chan Ho-him and Elaine Kurtenbach contributed to this report.

  • Trump hails a ‘unique’ Cabinet meeting at Camp David as he seizes on Spain’s migration crisis

    Trump hails a ‘unique’ Cabinet meeting at Camp David as he seizes on Spain’s migration crisis

    CAMP DAVID, Md. — President Donald Trump took Friday’s cabinet meeting on the road to Camp David, using the historic rustic backdrop of the presidential retreat to boast of his administration’s achievements while seizing on a migrant crisis in Spain to make his case for why voters should keep the Republican Party in power.

    The cabinet meeting, the 13th such gathering of Trump’s second term, came just three months before the November midterm elections that could serve as a check on his power if Democrats take control of one or both chambers of Congress. His warnings about Spain echoed language he used ahead of the 2018 midterms, when he warned of caravans of migrants headed to the southern U.S. border.

    “You know, I saw Spain yesterday, and I watched the catastrophe that took place. It looks like an invasion of a country by hundreds of thousands of people,” Trump said. “And that same thing is going to happen to us if the Republicans don’t get elected. Except worse, much bigger.”

    Some 60,000 migrants crossed from Morocco into Spain’s tiny Ceuta territory over the past 24 hours. Roughly half of them have already made their way back voluntarily, according to the Spanish government, but at least 57 have died on the journey.

    Separately, he deflected blame for a series of cyberattacks that targeted 30 water systems in Minnesota on the state’s “grossly incompetent” Democratic leadership. Officials have not publicly identified who was behind the attacks, though the FBI, the Cybersecurity and Infrastructure Security Agency, and other agencies warned in an advisory last week that Iranian hackers have been targeting water and wastewater systems and the operational controls of other critical infrastructure sectors.

    “They blame it on Iran,” Trump said, without offering evidence. “I don’t think so. I think I blame it on Minnesota because they’re grossly incompetent.”

    The president regularly convenes his cabinet throughout his terms as a setting to promote his administration’s policies while fielding questions on the news of the day, but what made Friday’s meeting unusual was that it was at Camp David, the government-owned retreat nestled in Maryland’s Catoctin Mountains, where Trump held one cabinet meeting during his first term.

    Trump began the meeting by noting it was “something very unique.” The White House called it the first-ever televised cabinet meeting from the presidential retreat.

    “It’s Camp David, and this room is a very, very special room,” Trump said.

    Secretary of State Marco Rubio and Defense Secretary Pete Hegseth were among the cabinet officials who spoke before Trump took questions from journalists. The public portion of the meeting ended after about an hour.

    Trump fields questions on Iran, Hamas deal, and Blanche confirmation

    In the lengthy question-and-answer session, Trump commented on the latest developments regarding the war in Iran and a deal he announced Thursday that he said would lead to the disarmament of the Palestinian group Hamas.

    He also lamented that a $1.8 billion anti-weaponization fund to compensate his allies was “dead” and appeared to back off a pledge he made earlier this month to grant Ukraine a license to manufacture Patriot air defense systems.

    “I don’t think this would ever happen, but, you know, there’s people that, you give that technology, they can someday turn on you,” Trump added. “You look at war, that’s happened a couple of times over the years, right? So we have to be very careful.”

    On the Hamas agreement, Trump acknowledged that the agreement that would also lead to Israel’s withdrawal from Gaza will have “ups and downs.” Still, he called it a “great breakthrough” that has been helped along by the U.S. and Israel’s war with Iran, which has served as Hamas’ prime backer.

    Trump also remarked on the anti-weaponization fund that is holding up the confirmation of Todd Blanche as his attorney general, saying the pot of money is “dead” and that “I wish it weren’t, to be honest with you.”

    The president continued to defend the people who could potentially benefit from the fund, mainly those who stormed the Capitol on Jan. 6, 2021, to stop the certification of Democrat Joe Biden’s victory over him.

    “Their families have been ruined,” Trump said. Those people “wanted to go to a rally or an event and ended up spending the rest of their lives in horror.”

    Trump said Blanche has been a “pawn in this whole thing.” Blanche, who was present, did not speak in the public portion of the cabinet meeting.

    Camp David has been a retreat for presidents since FDR

    The camp’s primary purpose is to provide presidents a place to rest, relax, and recharge. It was established in 1942 during Franklin Roosevelt’s presidency and has been used by every president since.

    Roosevelt had enjoyed relaxing aboard a presidential yacht, but the military and the U.S. Secret Service began to worry about his safety on open water during World War II. As a result, Roosevelt asked the National Park Service to find sites within 100 miles of the White House that he could use for rest.

    He chose what is now known as Camp David. He gave it the original name of Shangri-La, from James Hilton’s novel Lost Horizon. President Dwight Eisenhower renamed it Camp David, after his grandson and father.

    Trump spent more weekends at the retreat in his first term but has visited sparingly in his second, most recently in June for Father’s Day.

    In 2019, during his first term, Trump announced on social media that he had canceled a secret weekend meeting at Camp David with Taliban and Afghanistan leaders — scheduled for just days before the anniversary of the Sept. 11, 2001, attacks — after a bombing in the capital of Kabul killed a dozen people, including a U.S. soldier.

    Presidents throughout history have turned to Camp David when they needed security and privacy for sensitive diplomatic talks with foreign leaders. Jimmy Carter took the leaders of Egypt and Israel there in 1978 for talks that produced the Camp David Accords, a peace agreement between the two countries.

    The 180-acre retreat, which is run by the Navy and guarded by Marines, has a cabin named Aspen that’s reserved for the president, plus about a dozen other cabins for guests. A main lodge has conference rooms, a dining room, and an office for the president.

  • Authorities release early ransom note in Nancy Guthrie case, hoping someone recognizes it

    Authorities release early ransom note in Nancy Guthrie case, hoping someone recognizes it

    TUCSON, Ariz. — Authorities released an early ransom note in the investigation into the disappearance of Nancy Guthrie in hopes that someone will recognize the writing style. A second note released Friday indicated Guthrie died shortly after she was kidnapped.

    Both notes initially went to a Tucson television station days after the 84-year-old mother of Today show host Savannah Guthrie went missing from her home outside Tucson on Feb. 1. Authorities have not said whether Nancy Guthrie is still alive.

    The Pima County Sheriff’s Department said, “We believe these distinctive linguistic characteristics may be recognizable to someone who knows or has interacted with the notes’ writer.”

    The first note, sent Feb. 2, said Guthrie was safe but scared and would be released unharmed once her captors received $4 million in cryptocurrency, with the ransom amount increasing if the first demand was not met.

    It said Guthrie would be released within 12 hours if the payment was received. It also included a threat to kill her if the ransom wasn’t paid.

    “Your mother is aware of this and her life is in your hands,” the first note read. “It is in the best interest of everyone to have this completed as soon as possible.”

    The second note to the family said Guthrie died shortly after she was taken. “She is buried in nature now,” the second note said. “Nothing you could have done could have changed the outcome.” The note ends with an apology, “We are truly sorry.”

    The sheriff’s department said the notes reveal a distinctive pattern of word choices and provide insight into the writer’s mindset. The agency said someone who knows the notes’ writer may recognize the patterns.

    In a statement, the sheriff’s department also went further to appeal to people who may know something about the case, saying it may be difficult to come forward due to a personal relationship with someone involved or just for their own safety.

    “We recognize relationships and loyalties change over time as do people and their perspectives,” the sheriff’s department wrote. “It is not too late to come forward.”

    The sheriff’s office also said Friday that two videos recovered from Guthrie’s doorbell camera might be from two separate days and indicate an unidentified male prepared ahead of when Guthrie was taken. Authorities are seeking information on anyone who was behaving differently, changed their physical appearance, suddenly left the Tucson area, or had a noticeable or unexplained interest or disinterest in the case.

    “Investigators continue to pursue every available technological and investigative lead,” the sheriff’s office said. “However, community members remain a vital resource as we seek to provide answers for Nancy’s family.”

    Also, two men detained and released early in the investigation into Nancy Guthrie’s disappearance are seeking a combined $3 million against a southern Arizona sheriff’s department. In a legal claim, they say they were wrongfully held by law enforcement.

    The claim made Thursday against Pima County Sheriff Chris Nanos’ department centers on the separate detentions of Carlos Alfredo Palazuelos and Daniel Maddow on Feb. 10. It said they were released hours later but have suffered from having been mentioned in the investigation.

    Nanos’ office declined to comment on the notice of claim, a necessary precursor to filing a lawsuit against government entities.

    Despite an intense search involving thousands of law enforcement officers and volunteers, there has been no sign of the mother of three since she was reported missing. Her children, including the NBC host, have made heartbreaking video pleas for help, but to no avail.

  • Hungary braces for a full shutdown of the Paks nuclear plant as the Danube River hits record lows

    Hungary braces for a full shutdown of the Paks nuclear plant as the Danube River hits record lows

    BUDAPEST, Hungary — Hungary’s only nuclear power plant will shut down for the first time in its history due to record-low water levels on the Danube River, Prime Minister Péter Magyar said Friday, adding that the plant may not come back online for several weeks as the river is expected to continue receding.

    The Paks nuclear plant, located around 50 miles south of the capital Budapest, is operating at less than half its normal capacity, producing 965 megawatts of power rather than the usual 2,000.

    The plant uses water from the Danube to cool its reactors, but the exceptionally low water level has tested the ability of pumps to bring sufficient quantities into the plant.

    Speaking at a news conference at the plant on Friday, Magyar said further reductions in output were imminent later Friday and that the entire plant will likely be powered down by Tuesday or Wednesday. He stressed that the shutdown can be performed safely and poses no risk to the public or environment.

    The Soviet-built, four-reactor plant at Paks accounts for nearly half of Hungary’s electricity production. If it is powered down, it will be the first time in its 44 years of service.

    Hungary and much of Central Europe has been in a prolonged period of drought in recent months, disrupting tourism, agriculture, and industry and confronting residents with the realities of climate change. Water levels are not expected to rise on the Danube in the coming days or even weeks as no significant rainfall is forecast.

    Magyar said Friday that the Danube’s water level has only risen on three occasions in the month of August in the last 20 years, and added that the level at Paks could recede to as low as negative 57 inches — far below the previous record of negative 39 inches set in 2018.

    A level of negative 52.7 inches requires the full powering down of the plant, he said. A negative reading means the river has fallen below the gauge’s zero reference level, not that the river is empty.

    Hungary’s government has requested that companies that consume large quantities of energy voluntarily reduce their consumption to help stabilize the energy supply, particularly in peak demand hours between 5 p.m. and 10 p.m.

    Magyar said Hungarian energy conglomerate MOL had committed to reducing its electricity needs by 65 megawatt-hours, a decrease of 40% from its normal consumption.

    Magyar announced Friday that his party had recommended suspending parliamentary sessions planned for Monday and Tuesday in the interest of conserving energy. He also ordered that all state institutions turn off decorative lighting by Monday.

  • Regulators propose overhaul to law governing how banks lend to low-and-middle income communities

    Regulators propose overhaul to law governing how banks lend to low-and-middle income communities

    NEW YORK — The Trump Administration has announced an overhaul to the rules governing a critical piece of Civil Rights-era legislation, most notably a reduction in the number of banks that will need to fully comply with the law.

    The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation on Friday jointly announced the proposed changes to the Community Reinvestment Act, a law that requires regulators to document how well banks do in lending to low-to-middle income neighborhoods. It would be the first major revision of the law’s rules and regulations in nearly three decades.

    Under the proposed revisions, bank examiners would put more weight on the lending banks do in certain communities and geographies, and less on how many branches they open or how much in deposits they take in from a local community.

    The number of banks that would need to comply with the law would be reduced as well. The definition of a small bank will increase from banks with under $412 million in assets to banks with $1 billion in assets. Banks between $1 billion and $10 billion in assets will now be classified as an intermediate bank.

    This would reduce the number of banks who need to comply with parts of the CRA by 800 banks. Only 86 banks, or roughly 3% of all institutions, would be subject to the full extent of CRA under the new regulations.

    Another change that is likely to be fought over relates to how banks give money to community development groups. Under the CRA, banks can donate money to local organizations that do poverty or low-income housing work in their communities to show they are providing resources to a local community. The new regulations could narrow the groups and programs that banks could donate to in order to meet those obligations.

    In a summary of the changes, the bank regulators said these changes would ensure community development grants “are not diverted to activist causes or consumed by excessive operating costs.” Banks would also need to collect more detailed information on who gets their community grants, including addresses, which would give more transparency to who is receiving grants from banks.

    That change could negatively impact groups like the National Community Reinvestment Coalition, an umbrella group for community development groups that often receive money from banks under the CRA. The new rules discourage banks making grants to national organizations and instead focus their grants on local groups.

    Jesse Van Tol, the CEO of NCRC, said that it was “unfortunate” that the bank regulators were politicizing grant making under the CRA.

    “CRA was created to work for low-to-middle income people. A lot of these changes are going to discourage banks from making grants, particularly in rural areas, where I expect there will be significant drops in activity,” Van Tol said.

    The proposal announced Friday by the OCC and FDIC did not include the other major bank regulator, the Federal Reserve. Banking groups had been pushing for a joint proposal from all three regulators, to make sure all three were aligned on the same requirements under the CRA.

    The CRA was passed in 1977 to combat redlining, a practice whereby banks would discriminate against the poor and minorities by choosing not to lend or open branches in minority-majority neighborhoods or in poor neighborhoods.

    The law is complex, requiring banks to document how they do business in the cities and areas they operate in. Banks must sit for regular examinations to see whether they are complying with the law. A bad CRA examination could restrict a bank’s ability to open new branches or merge with another bank or have other consequences. The data collected through CRA is also used by the Department of Justice in redlining cases.

    The last major revision of the CRA’s regulations happened in 1995, and there have been repeated attempts by administrations of both parties to update the rules to reflect how banking and financial services have changed in the past 30 years. But those revisions have repeatedly failed, either due to opposition from other regulators, the banks, or community groups, or have been blocked by courts. The Biden administration tried its own revisions of the CRA rules but those changes were blocked by courts in Texas.

    The proposed rules will now go out for a 60-day comment period where they will be finalized after banks, community groups, and other parties have a chance to weigh in on the changes.