12/05/24 - The News

Thursday, December 5, 2024

France’s Prime Minister to Stay as Caretaker for Now. What Comes Next?

December 05, 2024 0

  French President Emmanuel Macron will address the nation Thursday following the resignation of ousted Prime Minister Michel Barnier, a day after a historic no-confidence vote at the National Assembly left France without a functioning government.




Macron “took note” of Barnier’s resignation, the Elysee presidential palace said in a statement. Barnier and other ministers will be “in charge of current affairs until the appointment of a new government,” the statement said.

Macron is expected to focus on stabilizing the political crisis in his speech, though it is unclear when he will name a new prime minister to navigate the fractured parliament.

The no-confidence motion passed by 331 votes in the National Assembly, forcing Barnier to step down after just three months in office—the shortest tenure of any prime minister in modern French history.

Pressure to act swiftly

Macron faces the critical task of naming a replacement capable of leading a minority government in a parliament where no party holds a majority. Yaël Braun-Pivet, president of the National Assembly and a member of Macron’s party, urged the president to move quickly.

“I recommend he decide rapidly on a new prime minister,” Braun-Pivet said Thursday on France Inter radio. “There must not be any political hesitation. We need a leader who can speak to everyone and work to pass a new budget bill.”

The process may prove challenging. Macron’s administration has yet to confirm any names, though French media have reported a shortlist of centrist candidates who might appeal to both sides of the political spectrum.

Macron took more than two months to appoint Barnier after his party’s defeat in June’s legislative elections, raising concerns about potential delays this time.

Calls for Macron to step down

The no-confidence vote has galvanized opposition leaders, with some explicitly calling for Macron’s resignation.

“I believe that stability requires the departure of the President of the Republic,” said Manuel Bompard, leader of the far-left France Unbowed party, on BFM TV Wednesday night.

Far-right National Rally leader Marine Le Pen, whose party holds the most seats in the Assembly, stopped short of calling for Macron’s resignation but warned that “the pressure on the President of the Republic will get stronger and stronger.”

Macron, however, has dismissed such calls and ruled out new legislative elections. The French constitution does not call for a president to resign after his government was ousted by the National Assembly.

“I was elected to serve until 2027, and I will fulfill that mandate,” he told reporters earlier this week.

The constitution also says that new legislative elections cannot be held until at least July, creating a potential stalemate for policymakers.

Economic uncertainty

The political instability has heightened concerns about France’s economy, particularly its debt, which could rise to 7% of GDP next year without significant reforms. Analysts say that Barnier’s government downfall could push up French interest rates, digging the debt even further.

Rating agency Moody’s warned late Wednesday that the government’s fall “reduces the likelihood of consolidating public finances” and worsens the political gridlock.

Macron’s speech, scheduled for 8 p.m. local time, is expected to address these economic challenges while setting a course for the future government.

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Hawk tuah’ girl Haliey Welch launches crypto memecoin—but insists it’s not a cash grab

December 05, 2024 0

 The famous Hawk Tuah girl Haliey Welch’s HAWK memecoin has sparked controversy as its price dumps over 90% within hours. One of the key reasons behind HAWK price crashing was a finding of alleged snipers and insiders. 



HAWK memecoin was launched at 10 PM UTC on 4 December and it quickly surged over 900% and accumulated a market cap of $490 million. However, the memecoin price crashed nearly 91% in hours after accusations started to spread among investors.

As per DEXScreener data, HAWK was launched at the price of $0.005492 and it pumped to $0.04916 before crashing down. 

Hawk Tuah (HAWK) Memecoin – DexSceener 
Hawk Tuah (HAWK) Memecoin – DexScreener 

Onchain data shows that some snipers managed to benefit the most with selling over 135 million HAWK tokens at the right time and profiting over $1.3 million from single trade. 

The acquisitions from the community claims that some insider wallets and snipers combined have over 80% of the HAWK token supply. Although Welch denied that non such things have happened nor did they have assigned any tokens to KOLs. 

Besides, some users on X have also claimed that the launch of HAWK could put Hailey Welch in legal tension as several investors who lost money in the memecoin are filing complaints with the SEC. 

Hailey Welch’s social media posts were also bombarded with comments on her potential involvement with insider wallets. Many of her posts on X were also flagged by community notes citing that 96% of the HAWK supply is held by 10 inter-connected wallets and they have been selling gradually since the launch. 

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Oracle in focus as Guggenheim, Jefferies up price targets ahead of Q2 results

December 05, 2024 0

 Oracle (NYSE:ORCL) was in focus on Thursday as research firms Guggenheim and Jefferies upped their price target on the IT giant ahead of its fiscal second-quarter results, set to be released after the close of trading on December 9.



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Deny, defend, depose: UnitedHealthcare CEO killing shell casings had words written on them

December 05, 2024 0

Shell casings from the brazen slaying of UnitedHealthcare CEO Brian Thompson in midtown Manhattan had the words “deny,” “defend,” and “depose” written on them, NBC News reported Thursday, citing law enforcement sources.



Those chilling words echo the title of a 2010 book, “Delay Deny Defend,” whose subtitle is “Why insurance companies don’t pay claims and what you can do about it.”

Thompson’s company, a subdivision of UnitedHealth Group
, is the largest private health insurance payer in the United States, and has been the subject of heated controversy over its relatively high rate of denial of health-care claims.

NEW YORK, NEW YORK - DECEMBER 04: Police place bullet casing markers outside of a Hilton Hotel in Midtown Manhattan where United Healthcare CEO Brian Thompson was fatally shot on December 04, 2024 in New York City. Brian Thompson was shot and killed before 7:00 AM this morning outside the Hilton Hotel, just before he was set to attend the company's annual investors' meeting. (Photo by Spencer Platt/Getty Images)
Police place bullet casing markers outside of a Hilton Hotel in Midtown Manhattan where United Healthcare CEO Brian Thompson was fatally shot on December 04, 2024 in New York City. 
Spencer Platt | Getty Images

Thompson, 50, was gunned down outside the Hilton Hotel in midtown early Wednesday morning by a masked gunman wielding a pistol with a silencer. The shooter remains at large after fleeing on a bicycle into nearby Central Park.

Thompson, a married dad of two sons, was about to walk into the hotel on West 54th Street, near Sixth Avenue, for a UnitedHealth investor meeting when he was fatally shot.

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