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Suspect came within inches of killing Trump, but left few clues as to why

Republican presidential candidate and former U.S. President Donald Trump is assisted by U.S. Secret Service personnel after gunfire rang out during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. — REUTERS

BETHEL PARK, Pennsylvania — The portrait pieced together so far of the 20-year-old nursing home aide who allegedly tried to assassinate Donald Trump at an election rally reveals frustratingly little about why he would make such an attempt — or how he managed to come so close to killing the former president.

The early details that have emerged about Thomas Matthew Crooks, who was shot dead by law enforcement, show a young man working an entry-level job near his hometown in Pennsylvania, where he graduated from high school in 2022 with a reputation as a bright but quiet classmate. His high school counselor described him as “respectful” and said he never knew Mr. Crooks to be political.

The FBI said on Sunday that Mr. Crooks’ social media profile does not contain threatening language, nor have they found any history of mental health issues. They said he acted alone and have not identified a motive.

What is unique about Crooks — when compared to other recent shooters who opened fire at schools, churches, malls and parades — is that he came within inches of killing a presidential candidate.

On Saturday afternoon, Crooks slipped onto a rooftop location 150 yards (140 meters) from the stage where Mr. Trump was speaking in Butler, Pennsylvania. He then began firing an AR-15-style semiautomatic rifle, purchased by his father, officials said.

The gunfire killed a 50-year-old man, critically wounded two other spectators, and struck Mr. Trump’s ear — an assassination attempt that has further inflamed an already bitter US political divide. The FBI said it was probing the shooting as “an assassination attempt and potential domestic terrorism.”

A resident of Bethel Park, about an hour away from where the shooting occurred, Crooks was a registered Republican who would have been eligible to cast his first presidential vote in the Nov. 5 election in which Trump is challenging President Joseph R. Biden. Public records show his father is a registered Republican and his mother a registered Democrat, and that as a 17-year-old Crooks made a $15 donation to a Democratic Party cause.

The suspect was a member of a local shooting club named Clairton Sportsmen’s Club, the club confirmed to the media on Sunday while condemning the shooting and calling it a “senseless act of violence.”

Crooks was employed as a dietary aide at a nursing home at the time of the shooting, the home’s administrator said in a statement.

“We are shocked and saddened to learn of his involvement as Thomas Matthew Crooks performed his job without concern and his background check was clean,” said Marcie Grimm, administrator of the Bethel Park Skilled Nursing and Rehabilitation Center.

NEVER KNOWN TO BE POLITICAL
Two years ago, Crooks graduated from the local high school, where he showed no particular interest in politics, according to one classmate who asked not to be identified. Crooks’ interests centered on building computers and playing games, the classmate said in an interview.

“He was super smart. That’s what really kind of threw me off was, this was, like, a really, really smart kid, like he excelled,” the classmate said. “Nothing crazy ever came up in any conversation.”

Jim Knapp, who retired from his job as the school counselor at Bethel Park High School in 2022, said Crooks had always been “quiet as a churchmouse,” “respectful” and kept to himself, although he did have a few friends.

He rarely came across Crooks because “he wasn’t a needy type kid,” Mr. Knapp said. Crooks was content to occasionally eat lunch by himself in the school cafeteria, said Mr. Knapp, who would engage such students to see if they wanted company.

“Kids weren’t calling him names, kids weren’t bullying him,” Mr. Knapp said.

Knapp said he never knew Crooks to be political in any way, even as other kids would sometimes wear Trump or Biden attire. He added that he couldn’t recall Crooks ever being disciplined in school.

“Anybody could snap, anybody could have issues,” he said. “Something triggered that young man and drove him to drive up to Butler yesterday and do what he did.”

Residents near the Crooks’ home described feeling shocked and unsettled that an assassination attempt has been linked to a person from the sedate city of 33,000 people.

“Bethel Park is a pretty blue-collar type of area, and to think that somebody was that close is a little insane,” said Wes Morgan, a 42-year-old who works at an investment management company and bikes with his children on the same street as the Crooks’ residence.

A couple standing on the porch of their nearby brick ranch-style home was left processing the events and spotlight on their neighborhood.

“There’s never been a gun issue. There’s never been the police being called,” Mary Priselac, 67, said alongside her husband. “You kind of have to wonder what didn’t he get in life? What led to this extreme?”

Crooks’ gun — an AR-style-5.56 caliber rifle — had been legally bought, the FBI officials said, adding that the FBI believed it had been purchased by the suspect’s father. The officials said “a suspicious device” was found in the suspect’s vehicle, which was inspected by bomb technicians and rendered safe.

Bruce Piendl, owner of Allegheny Arms and Gunworks in Bethel Park, said guns were part of the culture in the area. “You have to understand in western Pennsylvania we have a rich tradition of hunting and fishing and outdoor stuff,” he said. “Within 10 miles (16 km) of here, there are a ton of gun clubs.”

Mr. Piendl said his record show he did not sell any firearms to the shooter but declined to say whether he sold any to his family.

“That’s between me and God,” Mr. Piendl said. — Reuters

Angkas awareness reaches nationwide, transforms stigma into opportunity as Filipinos support formalizing habal-habal

Angkas has come a long way in shaping and changing public perception about motorcycle taxis (MC Taxis). The company’s efforts have not only increased awareness but have also created significant advocacy that has led to the industry’s success. According to WR Numero, a leading research firm in the Philippines, awareness of Angkas is notably high, with 48% of Filipinos recognizing the brand. Furthermore, the study reveals that 45% of Filipino participants now use habal-habal for transportation, with 14% reporting regular usage and 11% using it two to four times weekly.

A recently published study by WR Numero reveals that 58% of Filipinos “agree with or strongly support” the legitimization of habal-habal, an unregulated motorcycle transport service. Additionally, 78% of Filipinos consider having an advocate in Congress essential, underscoring the significance of MC Taxis in the lives of Filipino commuters. The WR Numero Philippine Public Opinion Monitor, a pioneering and innovative public opinion research initiative, surveyed individuals 18 years and older nationwide regarding habal-habal. These findings highlight Angkas’ instrumental role in bringing nationwide awareness and advocacy for the motorcycle taxi industry.

Since its inception in 2016, Angkas has tirelessly worked to dispel the belief that using motorcycles to ferry passengers is unsafe, proving that with proper training and education, motorcycle taxis can be a viable and safe alternative form of transportation. The company has set new standards in the industry, demonstrating its commitment to safety and reliability. By 2019, Angkas had established its safety credentials with a remarkable 99.997% safety record, as presented in multiple court and congressional hearings. This success led to the Department of Transportation (DoTr) forming a technical working group (DoTr-TWG) to pilot a feasibility study on MC Taxis, with Angkas and 2 other players participating.

Transitioning from the achievements of Angkas, George Royeca, co-founder and now CEO, has emerged as a leading transport advocate. For nearly a decade, Mr. Royeca has championed job opportunities for habal-habal riders and provided legitimate two-wheel transport options for commuters. His visionary leadership has been central to Angkas’ success and the elevation of the motorcycle taxi industry.

In its early days, Angkas faced multiple threats of termination due to regulatory challenges and skepticism about the safety of MC Taxis. Mr. Royeca addressed these concerns by implementing rigorous biker training and promoting excellent service delivery to ensure safety and viability. To date, over 50,000 motorcycle drivers have been lifted out of poverty through Angkas, thanks to Mr. Royeca’s biker welfare initiatives like reliable loan programs, benefits, and incentives that formalized the once-informal habal-habal sector.

Mr. Royeca’s dedication to the motorcycle taxi industry and his advocacy efforts have paved the way for significant developments. The strong support (58%) for legitimizing habal-habal riders underscores the success of Mr. Royeca and Angkas in advocating for the inclusion of the informal sector in the country’s labor force and in offering commuters a safe, quick, and comfortable transport experience. Currently, Congress is working on regulatory laws for MC Taxis, structured according to the TWG’s recommendations. Mr. Royeca and Angkas’ belief in habal-habal riders has paved the way for this historic development in the local transport industry.

Angkas’ success in reaching nationwide consciousness and creating awareness and advocacy has been pivotal in the motorcycle taxi industry’s growth. George Royeca’s leadership and relentless advocacy have made him a champion of the industry and the 18 million-strong motorcycle rider community. Together, Angkas and George Royeca continue to drive forward the industry, ensuring a brighter future for millions of motorcycle riders across the Philippines.

 


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[B-Side Podcast] Untying the knot: Exploring divorce in Filipino society

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The Philippines is one of two countries in the world that does not allow divorce for married couples. On June 10, 2024, however, the Philippine House of Representatives transmitted House Bill No. 9349 – or the approved bill for absolute divorce – to the Senate.

What are the implications of this bill? If passed into law, how will it affect Filipino society?
In this episode, BusinessWorld discusses some of these possibilities with Jemy I. Gatdula, the dean of the University of Asia and the Pacific’s Institute of Law.

Interview by Patricia Mirasol
Editing by Jayson Mariñas

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King Charles set for October visit to Australia and Samoa, palace says

KING CHARLES III —DAN MARSH-FLICKR

Britain’s King Charles and Queen Camilla will travel to Australia and Samoa in October but not New Zealand as the monarch continues his cancer treatment, Buckingham Palace said on Sunday.

Some British and Australian media outlets had questioned whether the trip would take place at all in the weeks that followed news of the King’s cancer diagnosis, which was made public on Feb. 5.

The palace confirmed that Charles and Camilla will attend the Commonwealth Heads of Government Meeting in Samoa, scheduled to take place between Oct. 21 and Oct. 25.

The tour will not extend to New Zealand, however, as had been planned initially.

“The King’s doctors have advised that such an extended program should be avoided at this time, to prioritize His Majesty’s continued recovery,” a Buckingham Palace spokesperson said.

The programs in Australia and Samoa would be subject to doctors’ advice and could be modified accordingly, the palace said.

Buckingham Palace also published new portraits of the king and queen on Sunday, wearing Australian and New Zealand decorations and insignia.

The 75-year-old King returned to public duties at the end of April for the first time since his diagnosis for an unspecified form of cancer. Buckingham Palace said that his diary would be managed carefully to minimize any health risks. – Reuters

China’s economy falters as property, consumer pain worsens

RALF LEINEWEBER-UNSPLASH

 – China’s economy grew much slower than expected in the second quarter, as a protracted property downturn and job insecurity squeezed domestic demand, keeping alive expectations Beijing will need to unleash even more stimulus.

The world’s second-largest economy grew 4.7% in April-June, official data showed, its slowest since the first quarter of 2023 and missing a 5.1% analysts’ forecast in a Reuters poll. It was also down from the 5.3% expansion in the previous quarter.

“Overall, the disappointing GDP data shows that the road to hitting the 5% growth target remains challenging,” said Lynn Song, chief economist for Greater China at ING.

“A negative wealth effect from falling property and stock prices, as well as low wage growth amid various industries’ cost cutting is dragging consumption and causing a pivot from big ticket purchases toward basic ‘eat, drink and play’ theme consumption,” he added.

China’s yuan and stocks fell following the disappointing data.

The figures come as Beijing seeks to shore up economic confidence at a highly anticipated third plenum, a key leadership meeting that starts Monday, although conflicting requirements such as boosting growth and cutting debt complicate those plans.

The government is aiming for economic growth of around 5.0% for 2024, a target that many analysts believe is ambitious and may require more stimulus.

On a quarterly basis, growth came in at 0.7% from a downwardly revised 1.5% in the previous three months.

To counter soft domestic demand and a property crisis, China has boosted infrastructure investment and ploughed funds into high-tech manufacturing.

 

CONSUMER PAINS

China’s National Bureau of Statistics said while bad weather accounted for some of the hit to growth in the second quarter, the economy faced increasing external uncertainties and domestic difficulties in the second half of this year.

Economic growth in China has been uneven with industrial output outstripping domestic consumption, fanning deflationary risks amid the property downturn and mounting local government debt.

While solid Chinese exports have provided some support, rising trade tensions now pose a threat.

Broadly reflecting those trends, separate date on Monday showed factory output growth beating expectations in June but still slowing from May while retail sales growth also missed forecasts.

That follows data released earlier this month that showed China’s exports up 8.6% in June from a year earlier, and imports unexpectedly shrinking 2.3%, suggesting manufacturers are frontloading orders to get ahead of tariffs from trade partners.

Consumer prices, meanwhile, also missed expectations and factory deflation persisted.

“Among all the monthly figures released today, the highlight is the weak retail sales,” said Xing Zhaopeng, senior China strategist at ANZ.

Retail sales grew 2.0% year-on-year in June, missing the 3.3% growth forecast in the poll.

“Household consumption remains very week… with employers slashing salaries and high youth unemployment, households will still be cautious going forward,” Mr. Xing added.

There was even more pain in China’s battered property sector with new home prices falling at the fastest pace in nine years in June and struggling to find a bottom despite government support measures.

Property investment fell 10.1% in the first half of 2024 from a year earlier, and home sales by floor area fell 19.0%, deeper than a 20.3% slump in the first five months of the year.

China’s central bank governor Pan Gongsheng last month pledged to stick to a supportive monetary policy stance.

Analysts polled by Reuters expect a 10-basis points cut in China’s one-year loan prime rate as well as a 25-basis points cut in banks’ reserve requirement ratio in the third quarter.

Citi analysts expect the government to unleash another round of property-supporting measures after a meeting of the Politburo, a top decision-making of the ruling Communist Party expected in late July.

Authorities in May allowed local state-owned enterprises to buy unsold completed homes, with the central bank setting up a 300 billion yuan relending loan facility for affordable housing. – Reuters

Rising conflicts globally slowed childhood vaccination rate in 2023, UN says

DIANA POLEKHINA-UNSPLASH

More children were left out of critical vaccination drives for diseases such as diphtheria, tetanus and whooping cough last year as a rise in conflicts across the globe hindered the supply of life-saving shots mostly in strife-torn regions, the United Nations said on Monday.

About 14.5 million children failed to get vaccinated in 2023, compared with 13.9 million a year earlier, according to U.N. estimates. The number, however, was lower than during the COVID-19 pandemic, when about 18 million children missed out on vaccination.

The U.N. also said that an additional 6.5 million children failed to receive more than a single dose, meaning they were not fully protected.

The estimates are based on how many children received either the first dose or all three doses of the DTP vaccine, a staple shot that protects against diphtheria, tetanus and pertussis, also known as whooping cough.

In total, 84% of infants globally received their full course last year, below the necessary level to prevent disease outbreaks.

War-hit countries in particular saw a big jump in the number of children who were not immunized in 2023, the United Nations Children’s Fund (UNICEF) and the World Health Organization (WHO) said at a press conference last week, ahead of releasing the data.

The biggest fall in vaccination coverage globally was in Sudan, which has been decimated by 15 months of civil war. It saw coverage rates fall to 57% in 2023 from 75% in 2022.

That meant nearly 701,000 children in Sudan were not vaccinated at all against killer diseases such as measles and diphtheria.

The number of children who failed to get immunized in the occupied Palestinian territories rose to 17,000 for the nine months last year based on data available until September from 1,000 in 2021, the agencies said.

Sudan, Yemen and Afghanistan were all new entrants on the list of the 20 countries with the most unvaccinated, or “zero-dose,” children in 2023.

More than half of the world’s unvaccinated children live in countries with fragile, conflict-affected or vulnerable settings, although these nations only make up 28% of the global birth cohort, the UNICEF said.

There were some positives in the U.N. report. For example, there were around 600,000 fewer “zero dose” children across the African region in 2023 than in 2022, and coverage of the HPV vaccine, which protects against cervical cancer, also improved globally. Ukraine also saw an improvement despite its war with Russia. – Reuters

China’s Q2 GDP misses estimate, strengthens stimulus bets

A GENERAL VIEW shows Beijing’s skyline on a sunny day in this file photo. — REUTERS

China’s economy slowed in the second quarter, data showed on Monday, as a protracted property downturn and job insecurity weighed on domestic demand, keeping alive expectations Beijing will need to unleash more stimulus.

The world’s second-largest economy grew 4.7% in April-June, official data showed, its slowest since the first quarter of 2023 and missing a 5.1% analysts’ forecast in a Reuters poll. It was also down from the 5.3% expansion in the previous quarter.

 

KEY POINTS

  • Q2 GDP +4.7% y/y (f’cast +5.1% y/y, Q1 +5.3%)
  • Q2 GDP +0.7% q/q; (f’cast +1.1%, Jan-March Q1 +1.5% revised)
  • 2024 GDP growth seen at 5.0%, 4.5% in 2025
  • June industrial output +5.3% y/y (f’cast +5.0%, May +5.6%)
  • June retail sales +2.0% y/y (f’cast +3.3%, May +3.7%)
  • H1 fixed asset investment +3.9% y/y (f’cast +3.9%, Jan-May +4%)
  • H1 property investment -10.1% y/y (Jan-May -10.1%)

 

MARKET REACTION:

Traders in China markets appeared to show scant response to the economic data, with the blue-chip CSI 300 Index .CSI300 up 0.21% and the Shanghai Composite Index .SSEC edging 0.11% higher by the midday break. China’s onshore yuan weakened in morning deals.

 

COMMENTARY:

WOEI CHEN HO, ECONOMIST, UOB, SINGAPORE

“We wouldn’t say the 5% full-year target is out of reach for now. But more support will be necessary … probably via monetary policy. There could be further short-term rate cuts.”

 

VASU MENON, MANAGING DIRECTOR OF INVESTMENT STRATEGY, OCBC, SINGAPORE

“The disappointing second-quarter economic growth in China, which is the first set of quarterly data that is free of distortions by the pandemic, will add pressure on the Chinese government to boost confidence. With the latest data, markets are hoping that more significant measures could be announced during this week’s plenary session to help the limping economy and ailing property sector.

“The calls for greater focus on the economy will not go unheeded, but it is unlikely that the Chinese government can do anything that will provide a quick fix for the economy. Instead, the Third Plenum may focus more on long-term structural issues, which means that investors hoping for a quick resolution of China’s woes may be disappointed.

“Uncertainty about the US monetary policy and elections later this year also poses challenges for policy makers in Beijing as they try to stabilize the economy and property sector.”

 

TORU NISHIHAMA, CHIEF ECONOMIST, DAI-ICHI LIFE RESEARCH INSTITUTE

“The main factors are firstly the weakness of domestic demand centered on household and personal consumption. Also real estate investment, the details of this are really pretty tough.

“The real estate issue is not something that can be resolved quickly, so I cannot think that things will improve just by taking some measures. There are some very good fields from the micro perspective such as individual companies or science and technology. From a macro perspective, it’s very tough.”

 

TIANCHEN XU, ECONOMIST, THE ECONOMIST INTELLIGENCE UNIT, BEIJING

“The 4.7% growth is quite concerning because it comes off a low basis in Q2 2023 – remember how quickly the economy slows after the initial COVID-19 reopening. Our current full-year growth forecast is at 4.7%, at the lower-end of the ‘around 5%’ target. Our view is that the additional borrowing by the central government won’t be enough to offset the deleveraging among local governments and housing developers.

“We’re also quite concerned by the downturn of mid- and high-end consumption – a lot of discretionary spending such as jewellery and cars fell, probably as recent deleveraging campaigns and crackdowns on high-pay sectors took a further hit on job and income prospects.

“A bright spot is export, which is facilitated by cyclical upswings in electronics, and trade that’s driven by Chinese firms increasing investment overseas.”

 

ZHAOPENG XING, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI

“The 5% GDP growth for 2024 is not a done deal. We maintain our full-year forecast at 4.9%. The market will place a high hope on the third plenum this week. Unfortunately, the structural-oriented party convention is unlikely to unveil counter-cyclical measures. The outlook for H2 is unfavorable to China’s export-driven growth as trade protectionism grows.

“Among all monthly figures released today, the highlight is weak retail sales. The 2% y/y is way below market consensus forecast of 3.4%. The figure does match our visual inspection on the street. Household consumption remains very weak. The ‘replacement’ schemes fail to lift spending. With employers slashing salary and high youth unemployment, households will still be cautious going forward.”

 

SHANE OLIVER, CHIEF ECONOMIST AT AMP, SYDNEY

“The GDP numbers are consistent with what we’ve been seeing from the partial economic indicators, indicating a further slowing in Chinese growth. The bulk of the main problem is consumer spending … So, this is suggesting downside risks to Chinese GDP growth this year and probably also highlights the ongoing need for more stimulus push.

“What China needs is more efforts to boost consumer spending and stop consumers saving so much. And hopefully that’s what we might see (from the third plenum). You could argue today’s economic data coming in on the soft side increases the pressure on the third plenum to announce more decisive stimulus measures. But you know we have been disappointed in the past, so investors don’t want to get their hopes up too much.”

 

HARRY MURPHY CRUISE, ECONOMIST, MOODY’S ANALYTICS

“The remainder of 2024 will be defined by officials’ success in arresting the property market’s falls and encouraging domestic spending. Both require significant intervention. The four-day plenary session couldn’t come soon enough. Held just once every five years, the third plenum usually focuses on economic planning and long-term reform.

“While the case for reform is high, it’s unlikely to be a particularly exciting affair. Big policy pivots can be taken as an admission of failure and a sure-fire way to lose face. Instead, we expect a modest policy tweak that expands high-tech manufacturing and delivers a sprinkling of support to housing and households. We hope to be proven wrong by a larger swathe of policies being announced this week to support the domestic economy.”

 

MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE

“The numbers may not have been great relative to expectations, but perhaps expectations were just too high. YTD, growth rose 5%, which hits Beijing’s growth target of ‘around 5%’. And if there is to be any stimulus announced, the CCP’s Third Plenum would be the time to wheel them out. Although expectations to unveil reforms adequate to provide growth of the good ‘ole days is low.”

 

ALVIN TAN, HEAD OF ASIA FX STRATEGY, RBC CAPITAL MARKETS, SINGAPORE

“On net, it’s a negative outcome. It does show that the second-quarter growth momentum appears to be weakening.

“The second-quarter momentum weakening kind of implies that we’ll need more support to get the economy to the 5% target for the whole year. And in particular, we can see that the housing market continues to sag … effectively, the housing market and consumption side remains weak.”

 

LYNN SONG, CHIEF ECONOMIST FOR GREATER CHINA, ING, HONG KONG

“The two big drags on GDP growth continue to be the property sector and consumption. Property investment slumped -10.1% YoY through 1H24, and today’s data showed the price decline continues. A silver lining was that more cities saw price increases, and we saw some stabilization in some key tier 1 and 2 cities. On consumption, the 2% YoY growth in retail sales was the weakest level since exiting pandemic restrictions, and showed weak consumer confidence remaining a major headwind to the economic recovery.

“A negative wealth effect from falling property and stock prices, as well as low wage growth amid various industries’ cost-cutting is dragging consumption and causing a pivot from big ticket purchases toward basic ‘eat, drink and play’ theme consumption.

“Overall, the disappointing GDP data shows that the road to hitting the 5% growth target remains challenging, and we will need to see further policy support in the coming months if this goal is to be reached.”

 

BACKGROUND

  • China’s economy has struggled to mount a strong and sustainable post-COVID bounce, burdened by a protracted property downturn, mounting local government debts and weak private-sector spending.
  • The world’s second-biggest economy is expected to grow at a 5% pace in 2024 year-on-year, according to a Reuters poll. Analysts then tip slower growth of 4.5% for 2025.
  • The government is aiming for an economic growth of around 5% this year, a target many analysts believe is ambitious and may require more stimulus, noting that last year’s growth rate of 5.2% was likely flattered by a comparison with a COVID-hit 2022.
  • China is drawing on infrastructure work – a well-used playbook – to help lift the economy as consumers are wary of spending and businesses lack confidence to expand.
  • Fitch cut its outlook on China’s sovereign credit rating to “negative” in April, citing risks to public finances as Beijing channels more spending towards infrastructure and high-tech manufacturing, amid a shift away from the property sector.

Reuters

After assassination attempt, Trump and Biden seek calm, unity

Donald Trump and Joseph R. Biden are seen in this file photo of a presidential campaign debate in Cleveland, Ohio, US, Sept. 29, 2020. — OLIVIER DOULIERY/POOL VIA REUTERS

 – Donald Trump arrived on Sunday in Milwaukee, where he will be formally nominated as the Republican presidential candidate later this week after surviving an assassination attempt that has aggravated an already bitter U.S. political divide.

President Joe Biden, a Democrat, ordered a review of how a 20-year-old man with an AR-15-style rifle got close enough to shoot at Trump from a rooftop on Saturday. Trump, as a former president, has lifetime protection by the U.S. Secret Service.

Mr. Trump, 78, was holding a campaign rally in Butler, Pennsylvania – a key state in the Nov. 5 election – when shots rang out, hitting his right ear and leaving his face streaked with blood. His campaign said he was doing well.

“That reality is just setting in,” Mr. Trump told the Washington Examiner on Sunday. “I rarely look away from the crowd. Had I not done that in that moment, well, we would not be talking today, would we?”

One person in the crowd was killed and two others wounded before Secret Service agents fatally shot the suspect.

Both Mr. Trump and Mr. Biden on Sunday sought calm and unity.

Mr. Trump is due to accept his party’s formal nomination at the Republican National Convention with a speech on Thursday. He pumped his fist in the air several times as he descended the stairs from his plane after arriving in Milwaukee.

“This is a chance to bring the whole country, even the whole world, together. The speech will be a lot different, a lot different than it would’ve been two days ago,” Mr. Trump told the Washington Examiner.

Mr. Biden delivered a televised address from the Oval Office in the White House on Sunday.

“There is no place in America for this kind of violence, for any violence ever. Period. No exceptions. We can’t allow this violence to be normalized,” he said. “The political rhetoric in this country has gotten very heated. It’s time to cool it down.”

Mr. Biden and Mr. Trump spoke to each other on Saturday night after the shooting. First Lady Jill Biden also spoke with former First Lady Melania Trump on Sunday afternoon, said a White House official.

Mr. Trump and Mr. Biden are locked in a close election rematch, according to most opinion polls including by Reuters/Ipsos. The shooting on Saturday whipsawed discussion around the presidential campaign, which had been focused on if Mr. Biden, 81, should drop out following a halting June 27 debate performance.

The FBI said there were no known threats to the Republican convention – which kicks off on Monday – or anyone attending, while the Secret Service said they do not anticipate any changes to the security plan.

The convention will feature televised speeches by rising Republican stars and Mr. Trump’s choice for a yet-to-be-announced vice presidential running mate, while highlighting the party’s stance on such topics as abortion, immigration and the economy.

 

SUSPECT A NURSING HOME AIDE

The FBI identified Thomas Matthew Crooks of Bethel Park, Pennsylvania, as the suspect and said the shooting was being investigated as an attempted assassination.

FBI officials said on Sunday that the shooter acted alone. The agency said it had yet to identify an ideology linked to the suspect or any indications of mental health issues or found any threatening language on the suspect’s social media accounts.

Crooks was a registered Republican, according to state voter records, and donated $15 to a Democratic political action committee when he was 17. At the time of the shooting he was employed as a dietary aide at a nursing home. The Bethel Park Skilled Nursing and Rehabilitation Center said Crooks “performed his job without concern and his background check was clean.”

The gun – an AR-style-5.56 caliber rifle – had been legally bought, FBI officials said, adding they believed it had been purchased by the suspect’s father. The officials said “a suspicious device” was found in the suspect’s vehicle, which was inspected by bomb technicians and rendered safe.

The Secret Service denied accusations by some Trump supporters that it had rejected a campaign request for more security, saying that it recently “added protective resources and capabilities to the former President’s security detail.”

Hours after the assassination attempt, the Oversight Committee in the Republican-led US House of Representatives summoned Secret Service Director Kimberly Cheatle to testify at a hearing scheduled for July 22.

The shots on Saturday appeared to come from outside the area secured by the Secret Service, the agency said.

Butler County Sheriff Michael Slupe said Butler Township police officers had responded to a call about a suspicious person, but were unaware he was armed. He said one officer helped hoist another officer up to look on the roof. As the officer pulled himself up he was confronted by the shooter.

“The shooter heard him or saw him, he turns around with his rifle and of course the guy just lets go and he falls to the ground,” said Mr. Slupe. The shooter opened fire shortly afterwards, he said.

 

SPECTATOR KILLED PROTECTING FAMILY

The rally attendee killed on Saturday was identified by authorities as Corey Comperatore, 50, of Sarver, Pennsylvania. He died trying to protect his family from the hail of bullets, said Pennsylvania Governor Josh Shapiro.

“Corey was an avid supporter of the former president, and was so excited to be there,” Mr. Shapiro said, adding, “Political disagreements can never, ever be addressed through violence.”

Two people wounded in the shooting were in a stable condition on Sunday. Pennsylvania State identified them as David Dutch, 57, of New Kensington, Pennsylvania and James Copenhaver, 74, of Moon Township, Pennsylvania.

Residents of Bethel Park, where the suspected shooter lived, expressed shock at the news on Sunday.

“It’s a little crazy to think that somebody that did an assassination attempt is that close, but it just kind of shows the political dynamic that we’re in right now with the craziness on each side,” said resident Wes Morgan, 42, describing Bethel Park as “a pretty blue-collar type of area.”

While mass shootings at schools, nightclubs and other public places are common in the United States, the attack was the first shooting of a US president or major party presidential candidate since the 1981 attempted assassination of Republican President Ronald Reagan.

Americans fear rising political violence, Reuters/Ipsos polling shows, with two out of three respondents to a May survey saying they worried violence could follow the election.

After Mr. Biden defeated Mr. Trump in the 2020 election, Mr. Trump supporters stormed the US Capitol on Jan. 6, 2021, in a deadly riot fueled by Mr. Trump’s false claims that his loss was the result of widespread fraud. – Reuters

PANA Brand Academy 2024 marks milestone in marcom education

Philippine Association of National Advertisers (PANA) recently completed its PANA Brand Academy for this year, which participants said was fun, comprehensive, progressive, and relevant.

An essential platform for professional growth for 10 years now, PANA Brand Academy reached a significant milestone with a groundbreaking partnership with the Asian Institute of Management (AIM), offering the first-ever certificate course in the industry, which was attended by nearly 100 participants.

The said collaboration elevated the program’s prestige, offering attendees a unique blend of academic rigor and practical industry insights, with the added bonus of unparalleled discounted rates for those wishing to enroll in post graduate short courses in Marketing and Brand Management giving all finishers credit units and the highly regarded alumni status.

The program featured top-notch speakers, including new-generation industry personalities and world-class professors from AIM, providing unparalleled insights and expertise. Participants gained cutting-edge knowledge on brand building, marketing and advertising trends, strategies, and innovations, ensuring they are well-equipped to tackle contemporary challenges in the field. The diverse lineup of speakers brought fresh perspectives and inspired participants to think creatively and strategically about their brand building approaches.

In the progressive course outline, generative AI took the spotlight many times, alongside other phenomenal industry changes such as new media utilization, content creation, sustainability angles, and omnichannel platforms.

PANA thanks its venue sponsors Concepcion Industrial ConceptStore, Dentsu PH, Tiktok and AIM; case study sponsor Concepcion Industrial; and its event partners Truelogic, AdStandards Council, and 7Eleven. PANA also extends its appreciation to the Brand Academy committee headed by Chrissy Roa of Ayala Land, Inc. with Bea Atienza of Colgate-Palmolive, Mary Julie Balarbar of DLSU and the PANA Secretariat team

PANA invites interested learners to continue their journey towards marketing and advertising excellence with Brand Academy 2025. For more information, regularly visit PANA FB Page or www.pana.com.ph, or message email@pana.com.ph.

 


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PEZA investments plunge in June

WORKERS make customized pet plushies at a factory in Angeles City, Pampanga, March 10, 2023. — REUTERS

THE PHILIPPINE Economic Zone Authority (PEZA) approved P8.65 billion worth of projects in June, 73.4% lower than a year ago.

In a statement over the weekend, the investment promotion agency said the PEZA Board approved 25 new and expansion projects at its June 28 meeting, up from 22 projects a year ago.

These projects are expected to contribute $416 million in export value and 5,881 direct jobs.

However, the amount of PEZA-approved investments in June was 73.4% lower than the P32.56 billion worth of investments approved in the same month last year.

Of the 25 projects, 22 are from locator companies and three from economic zone (ecozone) developers, PEZA said.

“These locator companies comprise 11 export manufacturing projects, followed by six projects in information technology and business process management (IT-BPM), three in domestic markets, one in facilities development, and one in logistics services,” it added.

Calabarzon was still the top investment destination in June, accounting for 15 projects. The other investment destinations were the National Capital Region, Region III (Central Luzon), Region V (Bicol Region), Region VII (Central Visayas), and Region XII (Soccsksargen).

LOWER INVESTMENTS
For the first half, PEZA said it approved P45.48 billion worth of investments, plunging by 43.6% from the P80.59 billion worth of investments approved in the same period last year.

The PEZA approved 120 projects which are expected to create over 25,000 jobs and generate $1.61 billion in export value.

“The new projects approved recorded an 18% increase from 102 to 120, with projected direct employment reaching a remarkable 64% uptick from 15,424 to 25,259 this year,” PEZA said.

PEZA Director-General Tereso O. Panga said that the approval of the 120 projects signals confidence in the country’s business environment and economic potential.

Creating more jobs for Filipinos signifies the agency’s proactive efforts in positioning the Philippines as a premier investment destination in Asia,” he said.

During the six-month period, PEZA said it approved five big-ticket projects worth P31.36 billion.

In June, it approved two projects worth P6.15 billion. A Malaysian company will set up a manufacturing and assembly facility for hair stylers, while a Japanese company will manufacture biomass fuel products, oxygen reducers, and activated charcoal made from coconut shells in General Santos City.

From January to June, the top investment sources were the Cayman Islands (P8.86 billion), Japan (P8.02 billion), Malaysia (P4.53 billion), Hong Kong (P1.62 billion), and Singapore (P1.27 billion).

The electronic manufacturing services sector attracted the most investments, accounting for P19.77 billion. This was followed by the ecozone development (P16.21 billion), IT-BPM industry (P2.89 billion), and automotive (P1.04 billion).

“Eastern European countries are also quite interested in the Philippines, with visits from Ukrainian, Polish, and Russian delegations conducting inquiries and site visits preparatory to investing in the country,” PEZA said.

PEZA is hoping to approve between P200 billion and P250 billion worth of investments this year. If realized, this will be at least a 15% growth from the P175.71 billion worth of investments approved in 2023. — Justine Irish D. Tabile

Debt service bill jumps in May

REUTERS

THE NATIONAL GOVERNMENT’S (NG) debt service bill jumped year on year in May due to a surge in interest payments, the Bureau of the Treasury (BTr) said.

Data from the Treasury bureau showed that debt payments rose by 40.64% to P68.98 billion in May from P49.05 billion in the same month a year ago.

Month on month, debt payments dropped by 57.34% from P161.7 billion in April.

The debt service refers to payments made by the government on its domestic and foreign debt.

The bulk (88.57%) of May’s debt service bill went to interest payments.

Interest payments went up by 47.78% to P61.1 billion in May from P41.34 billion in the same month a year ago.

Interest paid on domestic debt increased by 56% to P46.07 billion from P29.53 billion a year ago.

Meanwhile, interest payments to foreign creditors grew by 27.18% to P15.03 billion in May from P11.82 billion a year ago.

On the other hand, principal payments inched up by 2.34% to P7.88 billion from P7.7 billion last year.

Month on month, amortization plunged by 92% from P94.2 billion in April.

Broken down, amortization on domestic debt in May dropped by 96.8% to P85 million from P2.66 billion a year ago.

Principal payments on external debt increased by 54.51% to P7.8 billion in May from P5.05 billion last year.

FIVE MONTHS
In the first five months of the year, the NG’s debt service bill increased by 48% to P1.22 trillion from P819.53 billion in the year-ago period.

Amortization payments climbed by 51.73% to P895.13 billion in the first five months from P589.95 billion a year ago.

Principal payments on domestic debt reached P754.86 billion, while those on external debt amounted to P140.27 billion.

Meanwhile, interest payments in the January-to-May period jumped by 40.08% to P321.59 billion from P229.57 billion a year prior.

Broken down, interest paid on domestic debt stood at P231.38 billion, while interest payments for external debt reached P90.21 billion.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the higher debt payments in May could be due to the elevated interest rates and weaker peso.

“The higher debt servicing bill of the NG could be attributed to higher interest rates that increased borrowing costs/financing costs,” he said via Facebook Messenger.

Mr. Ricafort said the weaker peso exchange rate increased the peso equivalent of external debt and debt servicing.

The peso closed at P58.52 against the dollar as of end-May, depreciating by P0.94 from its P57.58 finish as of end-April.

The Bangko Sentral ng Pilipinas has kept the key policy rate at an over 17-year high of 6.5% since October 2023.

The higher debt payments could also reflect the wider budget deficit, Mr. Ricafort said.

The NG’s budget deficit in May widened 43.1% to P174.9 billion amid strong spending over revenues, BTr said. In the first five months of the year, the budget gap ballooned by 24.06% to P404.8 billion from P326.3 billion a year ago.

“There could also be some payment of some multilateral foreign debts, as well as some maturity of some local government securities/debts,” Mr. Ricafort said.

As of end-May, the NG’s debt hit a record high P15.35 trillion, with P10.44 trillion coming from domestic sources and P4.9 trillion from foreign sources. — Beatriz Marie D. Cruz

‘Larger-than-expected’ rate cuts likely — Nomura

BW FILE PHOTO

THE BANGKO SENTRAL ng Pilipinas (BPS) may deliver “larger-than-expected” rate cuts, with the possibility of up to 250 basis points (bps) worth of reductions until 2025, Nomura Global Markets Research said.

“Compared to our baseline, risks are skewed towards more easing in the Philippines and Thailand, less easing in India,” it said in a report.

In June, the Monetary Board kept its benchmark rate unchanged for a sixth straight meeting at 6.5%, the highest in over 17 years.

Nomura’s baseline forecast for the Philippines’ policy rate is at 5% at end-2025. However, its Modified Taylor Rule (MTR) estimates see the key rate slashed to as low as 4%.

According to the report, the MTR estimates to “quantify where Asian policy rates ‘should be.’”

Nomura’s baseline projection also anticipates the BSP to deliver a rate cut in October. It projects a total of 150 bps of cuts by the second quarter of 2025.

“However, the MTR suggests this would leave policy rates in restrictive territory, given an imminent fall in inflation to below the midpoint of the 2-4% target range, partly aided by lower rice prices.”

“The MTR suggests policy easing should begin in Q3 2024, with 250 bps of cumulative cuts to a terminal rate of 4% by Q2 2025,” it added.

BSP Governor Eli M. Remolona, Jr. has said that the central bank is on track to begin policy easing by August.

He said that the BSP could cut rates by up to 50 bps this year, with a 25-bp cut each in the third and fourth quarters.

The Monetary Board has raised rates by a cumulative 450 basis points (bps) from May 2022 to October 2023.

Nomura also noted the improved expectations of the US Federal Reserve cutting rates this year.

“The global backdrop has also become more conducive, with US core (consumer price index) inflation softening in June and setting the stage for the Fed to cut policy rates twice this year, in September and December, consistent with our US economics team’s baseline views,” it said.

US consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents, firmly putting disinflation back on track and putting the Federal Reserve another step closer to cutting interest rates in September, Reuters reported.

Financial markets saw a roughly 85% chance of a rate cut at the Fed’s September meeting, compared with about a 70% chance seen before the report. Two rate cuts are anticipated this year.

Mr. Remolona earlier said that the BSP does not need to wait for the Fed before it begins cutting rates.

He said that while the BSP monitors the Fed’s moves, it is not a “decisive factor” in its own monetary decisions.

The Monetary Board’s (MB) next policy review is on Aug. 15. This is MB’s only meeting scheduled in the third quarter. It is also set to meet on Oct. 17 and Dec. 19, its last two meetings for the year. — Luisa Maria Jacinta C. Jocson