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A growing wave of congressional Democrats and former national security officials are urging President Joe Biden to step down from the 2024 presidential race. On Friday afternoon, 34 Democratic lawmakers publicly called on Biden to reconsider his candidacy. Biden’s campaign co-chair said the president is considering who would be the strongest candidate to uphold Democratic values ​​and win in November. In addition, more than 50 former U.S. national and foreign security officials, including Anthony Lake, former national security adviser under President Bill Clinton, have also advised Biden to end his campaign. They have expressed concerns about Biden's ability to secure a victory against Donald Trump, potentially jeopardizing Biden's record and national security legacy. The group s...

Fueled by a surge in technology stocks and rising expectations of a Federal Reserve rate cut, Asia-Pacific markets rose on Thursday. The highlight was Japan's Nikkei 225 index, which topped the 42,000 mark for the first time ever. The Nikkei rose nearly 1%, with technology stocks leading the charge. The broader Topix also hit new highs, rising 0.7%. This rally mirrored the performance of U.S. tech giants the day before, with chipmakers such as Taiwan Semiconductor Manufacturing Company (TSMC) and Nvidia posting significant gains. However, a separate report from Japan pointed to a potential weakness in the economy. Orders for basic machinery unexpectedly fell for a second straight month, potentially signaling a weakening in capital spending. That could pose a challenge to the Bank of Japan...

Barcelona, ​​Spain – Tensions between residents and tourists in Barcelona reached boiling point this weekend. Protests against mass tourism saw hotel and restaurant entrances blocked in Barceloneta, with calls for an immediate reduction in visitor numbers. Reasons for discontent Residents blame the influx of tourists for the rising cost of living, crowded public spaces and a loss of local identity. Rent prices have skyrocketed, forcing many residents to abandon their neighborhoods. Measures to address the problem Barcelona Mayor Jaume Collboni has announced that Airbnb-style short-term rentals will be banned by 2028, potentially freeing up 10,000 apartments for long-term rentals. Change of feeling While most residents still see tourism as economically beneficial, many are now concerned ab...

On Monday, the Republican National Committee (RNC) adopted a new platform, heavily influenced by former President Donald Trump. The revised platform introduces significant changes to previous GOP positions on marriage and abortion, while making ambitious economic promises. Key economic commitments include ending inflation, transforming the United States into a manufacturing powerhouse, and implementing deep tax cuts for workers. The platform aligns with Trump's pledges to maintain funding for Social Security and Medicare, two widely supported but expensive government programs. The new 16-page platform, much shorter than those from the 2016 and 2020 cycles, passed by a vote of 84 to 18, according to a person familiar with the proceedings. It reflects a shift toward Trump’s populis...

The New York Times editorial board on Friday called on President Joe Biden to withdraw from the presidential race against Donald Trump, citing his poor performance in the debate the night before. “The president appeared on Thursday night as a shadow of a once-great public servant,” the Times editorial said. “He struggled to articulate what he would accomplish in a second term. He struggled to respond to Trump’s provocations. He struggled to hold Trump accountable for his lies, his failures and his chilling plans. More than once, he struggled to finish a sentence.” “Biden has claimed that he is the candidate best positioned to confront and defeat this threat of tyranny. His argument is based largely on his victory over Trump in 2020,” the editorial continues. “That is no longer a sufficien...

After his State of the Union address in March, President Joe Biden appeared to allay concerns about his abilities at 81. Speaking firmly, he faced down Republican lawmakers who mocked him. However, one Democratic congressman who had shaken Biden's hand that night was troubled by his appearance, describing him as "frail and weak." Biden’s poor performance in a recent debate with Donald Trump has raised questions. Some Democratic lawmakers, who have watched Biden closely, are now questioning his ability to stay in office. They cite memory lapses and inconsistencies noted during his tenure. A significant team of aides surrounds Biden, helping to prevent potential embarrassment. He often uses a shorter ladder to climb onto Air Force One to minimize the risk of falling. No president s...

Asia-Pacific markets were mostly positive on Thursday, with major Japanese and Taiwanese indices hitting record highs. The Topix rose 0.85%, surpassing its all-time high of 2,886.50 set in December 1989. The Nikkei 225 index rose 0.8%, surpassing its all-time high of 40,888.43 set in March this year. Shares of SoftBank Group hit another all-time high, extending their winning streak to seven days, with a 2.5% gain. Japanese companies have seen their biggest wage increases in three decades this year, according to Japan’s largest labor union. A survey conducted by labor group Rengo since March shows that monthly pay for union-supported workers will rise an average of 5.1 percent in the fiscal year ending in March 2025. Large companies with 300 or more unionized employees have raised wages by...

In a significant shift from global trends, Greece has introduced a six-day workweek for some companies, aiming to improve productivity and employment. The new rule, effective July 1, is part of a broader labor law reform passed last year. The policy allows employees of private companies that offer 24-hour services to extend their work week from the traditional 40 hours to 48 hours. However, sectors such as hospitality and tourism are excluded from this change. The pro-business administration of Prime Minister Kyriakos Mitsotakis defends the measure as "worker-friendly" and "growth-oriented." The government argues it will help workers receive adequate overtime pay and combat the problem of undeclared work. The introduction of the policy has met with sharp criticism from unions and politica...

As the sun sets, a ferry crosses the Golden Horn, with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. The Financial Action Task Force (FATF), an international organization focused on combating money laundering and illicit financial activities, has decided to remove Turkey from its "gray list" of countries requiring special monitoring. The decision, taken on Friday, represents a significant vote of confidence for Turkey in its economic recovery efforts. In its latest report, the Paris-based FATF acknowledged Turkey’s significant progress in enhancing its anti-money laundering (AML) and counter-terrorist financing (CFT) measures. The report commended Turkey for addressing the shortcomings identified in the FATF’s October 2021 monitoring report. The 2021 report hi...

Marc Benioff, CEO of Salesforce, spoke at the World Economic Forum in Davos, Switzerland, on January 18, 2024. At Salesforce's annual meeting, shareholders rejected the proposed compensation plan for top executives, including CEO Marc Benioff. The decision followed concerns from advisory groups about stock awards granted to Benioff. Of the votes cast, 339.3 million were in favor, while 404.8 million were against, according to regulatory documents filed Monday. Despite the board's recommendation to approve the compensation plan, shareholder advisory firms Glass Lewis and Institutional Shareholder Services advised against adopting it. For fiscal 2024, Benioff’s total compensation increased to $39.6 million from $29.9 million the previous year. His salary remained flat at $1.55 million, but ...