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France Is Back On The Brink

France Is Back On The Brink

Your unbiased daily news brief

James Kratch
December 03, 2024

Good Tuesday morning. Experts say you should top believing these winter health myths. Have a great day!

In Today’s Brief

TSA: Record day
Romania: Vote upheld
Hegseth: New claims
Cargill: Layoffs planned
Guinea: Soccer disaster

... and more

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Top Tips

1) French flop

France's government is about to collapse.

The news: Prime Minister Michel Barnier will face -- and almost assuredly lose -- a non-confidence vote tomorrow, plunging the country back into political chaos. Both the far-left and -right wings of the National Assembly plan to overthrow the ex-Brexit negotiator after he forced through his budget without a parliamentary vote; the non-confidence vote will also tank the budget.
Back up: French President Emmanuel Macron called surprise snap elections earlier this year after the far-right National Rally surged in European elections. The gambit led to a hung parliament. Barnier was appointed to provide stability and lead a tenuous right-leaning government, but has always operated under the looming threat of a non-confidence vote.
Next steps: The NR could bail Barnier out at the last minute, but that is unlikely. The French constitution does not allow for a new election until next year and there is no sign a new government coalition is feasible, so it will be more economic uncertainty and political gridlock. Pressure could grow on Macron to resign (his term runs into 2027), but he has repeatedly said he will not step down.

2) Family fallout

President Joe Biden took heat from both sides of the aisle after pardoning his son while staying silent on a state visit to Angola.

The reactions: Both Democrats and Republicans criticized the president's decision to pardon Hunter Biden on federal gun and tax evasion charges and renege on previous pledges. President-elect Donald Trump railed against the move and again intimated he plans to pardon people convicted of crime related to the Jan. 6 riot at the Capitol.
Of note: The pardon Biden handed to his son covers any federal crimes committed in a 10-year period from Jan. 1, 2014 to this past Sunday. It is the most sweeping pardon any president has handed down in decades; experts said only former President Gerald Ford's pardon to former President Richard Nixon following the Watergate scandal compares.
Next steps: Several GOP members of Congress commented that Hunter Biden can no longer invoke his Fifth Amendment right against self-incrimination if called to testify. So the clemency could open the door for a last-ditch revival of the failed impeachment effort against President Biden.

3) Feeling heat

Experts are sounding alarms about next year’s World Cup in North America.

Catch up: The U.S., Canada and Mexico will host the international men's soccer tournament in 2026. The event runs from mid-June to mid-July in 16 cities across the continent.
The news: Climate and medical officials are concerned temperatures will be unsafe at some venues, particularly in the middle of the day. It will be the largest World Cup in history with 48 participating teams, so there will be more events and tighter schedules.
Big picture: Advocates argue concerns are manageable after the U.S. hosted the Copa America tournament this past summer despite high heat for some matches. Several of the stadiums in high-heat areas, such as Dallas, Houston and Mexico City, are air-conditioned.

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Quick Tips

U.S. News

The Transportation Security Administration screened over 3M people at U.S. airports on Sunday. The post-Thanksgiving rush set a new agency record, besting the Sunday after July 4 earlier this year (More)
The U.S. Coast Guard suspended its search for five missing people off the coast of Alaska. A Sitka-based commercial fishing boat capsized early Sunday morning; the entire crew is believed lost after searching 108 nautical miles (More)
An ex-Kansas police detective facing a federal civil rights trial died of an apparent suicide. Roger Golubski was found dead after missing jury selection; he was accused of sexually abusing Black women over decades and framing people for crimes they did not commit (More)

World News

Romania's top court upheld a far-right presidential candidate's surprise win in the first round of voting. Calin Georgescu will stand against center-right candidate Elena Lasconi in the run-off; pro-Western parties appear to have the votes to form a governing coalition for the European Union and NATO member (More | More)
Iranian-backed Iraqi fighters have entered Syria to reinforce government forces as the country's civil war re-ignites. Russia has also aided dictator Bashar al-Assad with air power; Hezbollah is not expected to assist in pushing back rebel offensives (More)
President-elect Trump called on Hamas to release all remaining Gaza hostages by Inauguration Day. He warned the terrorist group will have "all hell to pay" if it does not follow through and "will be hit harder than anybody has been hit" by U.S. forces (More)

Political News

Secretary of Defense nominee Pete Hegseth faces new allegations of alcohol abuse and sexual impropriety. A report by The New Yorker cites a whistleblower report from when the ex-Fox News host was leading a veterans nonprofit group; it says Hegseth was forced out of the role (More)
Capitol Police arrested a House staffer after finding ammunition during a bag check. New York Democratic Rep. Joseph Morelle fired the staffer, who said he forgot the ammo was in the bag before entering the Cannon House Office Building (More)
California's 13th Congressional District is the only House race that remains uncalled. Republican Rep. John Duarte has a slim lead ahead of Thursday's certification deadline; the GOP will have a 218-215 majority if he holds on (More)

Business & Markets

Major indexes closed mixed yesterday. The Nasdaq and S&P 500 closed at record highs; Federal Reserve Gov. Christopher Waller said he anticipates another interest rate cut this month (Dow -0.29%, Nasdaq +0.97%, S&P 500+0.24%).
Cargill will lay off about 5% of its global workforce. The Minneapolis-based agricultural commodities trader's cuts should impact over 8K workers; it is the largest privately-held company in the U.S. (More)
A Delaware judge upheld her ruling striking down Elon Musk's $56B Tesla pay package despite a shareholder approval vote. The billionaire can appeal to the state's Supreme Court; the compensation plan would be the largest in U.S. history for a public company executive (More)

Entertainment & Sports

At least 56 people died in a crush at a professional soccer match in Guinea. Local reports claim the death toll is closer to 100 people; a controversial officiating decision allegedly led to chaos, including police using tear gas (More)
Ted Danson will receive the Carol Burnett Award at January's Golden Globes. The Cheers star is being recognized for "outstanding contributions to television" with the honor; he has won three Golden Globes in his career (More)
U.S. Women's Rugby star Ilona Maher signed with the Bristol Bears of Premiership Women's Rugby. The Olympic bronze medalist was the runner-up in the recently-completed Dancing with the Stars season; she is aiming to complete at the 2025 World Cup (More)

Quick Hitters

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