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The past week was a rollercoaster ride for tech enthusiasts, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) at the center of the action. The Cupertino-based tech giant announced its much-anticipated &#8220;Glowtime&#8221; event, set to unveil the iPhone 16 series. The week also saw speculations about Apple discontinuing certain products and a surprise announcement from Huawei. Let&#8217;s dive into the details.
Apple&#8217;s &#8220;Glowtime&#8221; Event
Apple confirmed that it would hold its annual iPhone launch event, named &#8220;Glowtime,&#8221; on Monday, Sept. 9. The event is expected to showcase a variety of new products, including the highly-anticipated iPhone 16 series.
<a href="https://www.benzinga.com/news/24/08/40572621/apple-september-9-glowtime-event-heres-everything-cupertino-is-expected-to-launch">Read the full article here.</a>
Products Apple Might Discontinue
Following the annual iPhone event, Apple is expected to discontinue some of its products. These products are likely to be removed from the Apple Store post the keynote.
<a href="https://www.benzinga.com/news/24/09/40680904/7-products-apple-will-likely-discontinue-next-week-after-iphone-16-launch">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40713896/apples-glowtime-event-will-the-iphone-16-shine-or-fizzle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Glowtime Event: Will The iPhone 16 Shine Or Fizzle?</a>
Analyst&#8217;s Take on Apple&#8217;s Stock
An analyst suggested that Apple&#8217;s iPhone 16 presentation might not be a &#8220;sell the news&#8221; item for the company&#8217;s stock, as has been the case with past Apple events.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40737548/apple-iphone-16-event-not-sell-the-news-analyst-says-shares-could-move-higher">Read the full article here.</a>
Huawei&#8217;s Countermove
In a surprising move, Chinese tech heavyweight Huawei scheduled a product launch event on Sept. 10, the same day Apple is set to reveal its iPhone 16 lineup. Huawei claims to have &#8220;turned science fiction to reality&#8221; after five years of research.
<a href="https://www.benzinga.com/news/24/09/40674140/huawei-plans-to-one-up-apples-iphone-16-with-disruptive-product-launch-says-it-has-turned-science-fi">Read the full article here.</a>
Apple&#8217;s OLED Plans
Reports suggest that Apple has decided to incorporate organic light-emitting diode or OLED displays in all iPhone models, including the lower-priced iPhone SE, from 2025.
<a href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40726422/6-reasons-why-you-should-choose-iphone-16-pro-over-iphone-16">6 Reasons Why You Should Choose iPhone 16 Pro Over iPhone 16</a></li>
</ul>
Photo courtesy: Apple
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

AAPL

Apple's 'Glowtime' iPhone 16 Launch, OLED Display Upgrades, And Huawei's Countermove: This Week In Appleverse

The past week has been a rollercoaster ride with significant developments in the financial and political landscape. From the Federal Reserve&#8217;s potential pause on rate cuts to JPMorgan&#8217;s cautionary note on the stock market, the week was filled with intriguing stories. Let&#8217;s dive into the top five stories that made headlines.
Federal Reserve May Pause Rate Cuts
A leading economist has suggested that the Federal Reserve might be compelled to put a hold on its rate cuts in response to potential supply-side shocks. However, it&#8217;s unlikely that the Fed will reverse its course.&nbsp;
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40675100/federal-reserve-may-be-prompted-to-pause-rate-cuts-in-reponse-to-supply-side-shocks">Read the full article here.</a>
JPMorgan&#8217;s Warning On Stock Market
JPMorgan&nbsp;has issued a warning that the anticipated Federal Reserve rate cuts may not significantly boost the stock market. The bank suggests that the Fed will start easing but in a more reactive manner.&nbsp;
<a href="https://www.benzinga.com/markets/equities/24/09/40700320/jpmorgan-warns-anticipated-rate-cuts-may-not-significantly-boost-stock-markets-fed-will-start-ea">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40724455/peter-schiff-says-illusion-of-a-strong-labor-market-fading-faster-than-kamala-harris-post-convention?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Illusion Of A Strong Labor Market&#8217; Fading Faster Than Kamala Harris&#8217; Post-Convention Popularity Spike As Job Openings Slide To Lowest In 3.5 Years</a>
Private Employment Misses Forecasts
Private sector job growth in August was significantly slower than economists&#8217; estimates, indicating a softening labor market. The growth of 99,000 jobs sharply missed forecasts of 140,000.&nbsp;
<a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40728795/private-employment-grows-by-99-000-in-august-sharply-misses-forecasts-of-140-000-">Read the full article here.</a>
Paul Krugman Criticizes Musk And Trump&#8217;s Plans
Nobel laureate Paul Krugman has voiced concerns over the proposed federal spending cuts by&nbsp;Donald Trump&nbsp;and&nbsp;Tesla CEO&nbsp;Elon Musk. Krugman warns that these cuts pose risks to Medicare and Social Security.&nbsp;
<a href="https://www.benzinga.com/markets/equities/24/09/40743901/elon-musk-and-trumps-federal-efficiency-plans-slammed-by-paul-krugman-economist-warns-about-risk">Read the full article here.</a>
Kamala Harris&#8217;s Tax Deduction Initiative
Vice President&nbsp;Kamala Harris&nbsp;is set to unveil a $50K tax deduction for new small businesses. This move is seen as a counter to Trump&#8217;s economic policies and an attempt to win over middle-class voters ahead of the 2024 election.&nbsp;
<a href="https://www.benzinga.com/news/24/09/40699439/kamala-harris-to-unveil-50k-tax-deduction-for-small-businesses-to-counter-trumps-economic-policies-a">Read the full article here.</a>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40678841/kamala-harriss-democrat-supporters-are-in-complete-denial-of-unrealized-capital-gains-tax-claims-pie?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris&#8217;s Democrat Supporters Are In &#8216;Complete Denial&#8217; Of Unrealized Capital Gains Tax, Claims Pierre Ferragu, Warns &#8216;Dems Have Become The Bad Guys&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

News

Economics

Media

Federal Reserve's Potential Rate Cut Pause, JPMorgan's Stock Market Warning, And More: This Week In Economics

The rules for inheriting pretax retirement accounts such as IRAs, 401(k)s, 403(b)s, and TSPs can be complex and nuanced. <a href="https://www.benzinga.com/personal-finance/24/09/40677521/54-year-old-woman-with-no-401-k-and-only-12-000-in-savings-seeks-suze-ormans-advice-orman-says-p">Suze Orman</a> recently offered a master class in her "Women and Money" podcast, breaking down what beneficiaries need to know to navigate these accounts effectively.
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Orman begins by categorizing beneficiaries into two primary groups: eligible designated beneficiaries and non-eligible designated beneficiaries. The distinction between the two is important because it determines how and when you must withdraw funds from an <a href="https://www.benzinga.com/personal-finance/24/08/40226135/it-would-make-your-beneficiarys-life-far-easier-if-they-inherited-a-roth-versus-a-traditional-ir">inherited account</a>.
Trending: Founder of Personal Capital and ex-CEO of PayPal <a href="https://www.benzinga.com/money/evergreen-money">re-engineers traditional banking with this new high-yield account — start saving better today.</a>
According to Orman, eligible designated beneficiaries are typically classified into the following categories:
<ul>
<li>Surviving Spouse: The surviving spouse enjoys the most privileges. They can treat the inherited account as their own, allowing flexible withdrawal options and continued tax-deferred growth.</li>
<li>Minor Children: A minor child of the decedent also falls into this category. However, this privilege extends only until the child reaches the age of majority. At that point, the account must be managed according to other rules.</li>
<li>Individuals Close in Age: Anyone within 10 years of the decedent's age qualifies as an eligible designated beneficiary. For example, if the decedent was 80, a 75-year-old beneficiary qualifies.</li>
<li>Chronically Ill or Disabled Individuals: Those who are chronically ill or disabled are also considered eligible designated beneficiaries. </li>
</ul>
If you fall into one of these categories, you have more flexibility than non-eligible designated beneficiaries. However, your withdrawal options depend on whether the decedent had started taking the <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/07/39873500/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more">required minimum distributions (RMDs)</a>.
RMDs are a critical factor in determining how to handle an inherited IRA. Individuals must start taking RMDs from their pretax retirement accounts at age 73. However, these distributions&#8217; required beginning date (RBD) is April 1 of the year after they turn 73.
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
For instance, if you turn 73 this year, your RMD is based on the balance of your IRA as of Dec. 31, 2023, but you don't have to take it until April 1, 2025. If you inherit an account from someone who passed away before their RBD, your options differ based on whether you are an eligible or non-eligible beneficiary.
Orman lays out the withdrawal strategies based on the beneficiary category:&nbsp;
<ul>
<li>Eligible Designated Beneficiaries: If the decedent died before their RBD, you can either stretch distributions over your lifetime or follow the 10-year rule, which mandates full withdrawal by the 10th year after death. This flexibility is a significant advantage if you are younger and can benefit from extended tax-deferred growth.</li>
<li>Non-Eligible Designated Beneficiaries: If you are not an eligible designated beneficiary or the decedent died on or after their RBD, you must follow the 10-year rule. The account must be depleted within 10 years of the decedent's death.</li>
<li>Non-Designated Beneficiaries: If the decedent named a charity, estate, or non-see-through trust as the beneficiary, different rules apply. If the decedent died before their RBD, you have five years to withdraw the funds. If they died on or after their RBD, distributions can be stretched over the decedent's life expectancy.</li>
</ul>
Trending: Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg">How does it compare to the average?</a>
Navigating inherited pretax<a href="https://www.benzinga.com/personal-finance/24/08/40340446/67-year-old-retiree-asks-how-should-i-prioritize-my-spending-buckets-suze-orman-tells-her-tap-in"> retirement accounts</a> requires a solid understanding of these categories and withdrawal rules. As these regulations can significantly impact your financial strategy, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> is highly recommended to ensure you make informed decisions and optimize your inheritance.
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Personal Finance

Suze Orman's Master Class On Navigating Inherited Pretax Retirement Accounts – What You Must Know

In the lead-up to Tuesday night&#8217;s highly anticipated presidential debate, former Secretary of State Hillary Clinton has offered Kamala Harris some strategic advice for her <a href="https://www.benzinga.com/24/09/40668757/trump-vs-harris-majority-of-us-crypto-owners-support-this-candidate">face-off with Donald Trump.</a>
What Happened: Clinton shared her experiences and lessons learned from her own debates with Trump during the 2016 presidential race. She asserted that she had triumphed in all three debates and advised Harris to steer clear of Trump&#8217;s attempts to &#8220;bait&#8221; her.
In <a href="https://www.nytimes.com/2024/09/07/us/politics/hillary-clinton-debate-trump-harris.html">an </a>interview with the New York Times, Clinton warned that Trump is likely to employ a &#8220;scorched Earth&#8221; approach, with the intent to undermine Harris. She encouraged Harris to respond to this by launching well-grounded, direct attacks, noting that Trump &#8220;can be rattled&#8221;.
"He doesn't answer the questions. He doesn't come with any specifics. It appears from the reporting that he is going with a scorched-earth approach and will just try to tear her down, which is his usual go-to strategy," Clinton told the outlet.
Talking about having a conversation with Harris, Clinton said, "I talked with her about a number of things. She just should not be baited. She should bait him. He can be rattled. He doesn't know how to respond to substantive, direct attacks."
Also Read: <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">Harris Vs Trump: This Candidate Leading in Numerous Polls, Transforming Political Landscape</a>
Clinton also disclosed that Philippe Reines, who aided her in debate preparation by playing the role of Trump, is presumably assisting Harris in a similar manner. She recalled a moment when she succeeded in unsettling Trump during a debate by labeling him a &#8220;Russian puppet.&#8221;
"He did such a good job, conveying the sort of whole package of Trump for me, that I am absolutely sure he is doing the same thing for the vice president," she said.
Clinton also said that she believes one example of this was when she called him a "Russian&nbsp;puppet" during a debate.
"When I said he was a Russian puppet and he just sputtered onstage, I think that's an example of how you get out a fact about him that really unnerves him," she said.
The debate between Vice President Harris and former President Trump is set to take place on September 10.
Why It Matters: This advice from Clinton comes at a crucial time, as the debate could significantly influence public opinion and the political landscape. 
Clinton&#8217;s insights, based on her firsthand experience debating Trump, could provide Harris with a valuable perspective. The revelation that Philippe Reines, who has prior experience in debate preparation, is likely assisting Harris further underscores the importance of this event. 
The strategy of launching direct, substantive attacks, as suggested by Clinton, could prove to be a key factor in the upcoming debate.
Read Next
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Politics

Hillary Clinton's Advice To Kamala Harris For Donald Trump Debate Showdown: 'She Should Not Be Baited, She Should Bait Him'

Elon Musk&#8216;s social media platform X is expected to witness a drastic reduction in advertising expenditure in 2025. This forecast comes in the wake of a report by <a href="https://www.benzinga.com/news/24/08/40542027/elon-musk-asks-on-x-what-party-do-you-affiliate-with">UK-based market research firm Kantar</a>.
What Happened: Kantar&#8217;s research indicates a 26% decline in marketers&#8217; ad spend on X for the coming year. This is the largest recorded withdrawal from any major global advertising platforms to date.
The <a href="https://www.kantar.com/company-news/more-marketers-to-pull-back-on-x-ad-spend-than-ever-before">report</a> also highlights a significant decrease in marketers&#8217; trust in X as an advertising platform since its acquisition by Musk. In 2022, when the platform was still known as Twitter, advertisers&#8217; trust stood at 22%. However, by 2024, this trust had plummeted to 12%.
Gonca Bubani, Kantar&#8217;s Global Thought Leadership Director, pointed out that the rapid decline in trust over the past year suggests a reversal of this trend is unlikely. Bubani emphasized that X&#8217;s unpredictable nature makes it challenging for advertisers to ensure brand safety.
Furthermore, the report shows that X lags behind its competitors in terms of brand safety. A mere 4% of advertisers believe that advertising on X guarantees brand safety, while Google stands out with a 39% trust rating.
This development follows recent backlash Musk faced for sharing a contentious video on X, just the latest controversy involving the increasingly political Musk. His outspoken comments have further intensified advertisers&#8217; concerns about brand safety on the platform.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/05/38907748/days-after-facing-lawsuit-for-drug-use-musk-says-he-would-take-cocaine-if-it-boosted-long-term-produ" target="_blank" rel="noreferrer noopener">Days After Facing Lawsuit For Drug Use, Musk Says He Would Take Cocaine If It Boosted &#8216;Long-Term Productivity&#8217;</a>
Earlier last month, Musk initiated legal proceedings against a consortium of advertisers. He accused the group of breaching federal antitrust laws by collectively withholding billions in advertising revenue from his social media platform.
During a November event hosted by The New York Times, Musk addressed queries regarding his antisemitic tweets and issued an apology. However, he quickly shifted tone, expressing disinterest in advertiser demands.
Musk&#8217;s decisions have left marketers with little incentive to remain on the platform, especially in light of broader budget cuts across the industry. In the wake of the GARM lawsuit, ad buyers have expressed their hesitation to associate with a platform that sues advertisers for choosing not to advertise there.
Why It Matters: The anticipated reduction in ad spend on X is a significant blow to the platform, which has been grappling with trust issues since Musk&#8217;s acquisition. 
The declining trust in X&#8217;s ability to ensure brand safety, coupled with the platform&#8217;s unpredictable nature, is a major deterrent for advertisers. 
This development underscores the importance of brand safety in advertising decisions and could potentially influence future trends in the industry.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

X Faces Major Advertiser Exodus Amid String Of Elon Musk Controversies

Donald Trump is a victim of &#8220;selective prosecution,&#8221; said <a href="https://www.benzinga.com/news/24/08/40155234/naval-ravikant-calls-on-trump-and-harris-to-hold-a-press-conference-on-elon-musks-x-for-all-american">Naval Ravikant</a>, investor and co-founder of venture capital firm AngelList, on an episode of SiriusXM&#8217;s Megyn Kelly Show that premiered on Friday.
Trump&#8217;s Lawsuits: Ravikant said that the Democratic Party&#8217;s lawfare against Trump is &#8220;disgusting behavior&#8221; that could turn America into a banana republic, leading to a &#8220;one-party state better known as a dictatorship.&#8221; He added, &#8220;The moment you can start weaponizing the law against your enemy selectively that&#8217;s the beginning of the end.&#8221;
The venture capitalist said the charges brought up against Trump were really &#8220;trumped-up,&#8221; really &#8220;made up.&#8221; &#8220;You violated the statute of limitations, you tried to drum things up into a felony when there was no evidence of such. It was a mis-categorization of business expenses. When you have complex business dealings like I do and like many people, you can always find something,&#8221; he said.
Ravikant also criticized Trump&#8217;s opponent in the presidential race, stating, &#8220;If you want the case against Kamala Harris, it&#8217;s the fact that she was the D.A. of San Francisco, and San Francisco is a mess&#8230;after she advocated for George Gascon, the guy who is destroying LA by basically not prosecuting criminals and going after business owners.&#8221;
&#8220;This selective prosecution thing is a disaster,&#8221; he added. &#8220;And the people who are in Silicon Valley and the donors who are supporting this lawfare, they&#8217;re dead to me. These people are destroying the ground on which they stand.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/39899019/naval-ravikant-hails-elon-musk-as-real-winner-in-the-election-as-joe-biden-drops-out-says-trump-stay">Naval Ravikant Hails Elon Musk As &#8216;Real Winner In The Election&#8217; As Joe Biden Drops Out, Says Trump Staying On Truth Social Is &#8216;Costing Him Dearly&#8217;</a>
Voter Disposition: Most voters these days are single issue voters and not multiple issue voters, said Ravikant. A large part of Harris&#8217; coalition are women who are upset about the Dobbs ruling, he said, referring to the Supreme Court ruling that took away women&#8217;s constitutional rights to abortion.
&#8220;I think they are just going to vote on that single issue and so each political party is a coalition of these single issues voters,&#8221; he said. &#8220;There are some dominant single issues that are driving the left just like there are on the right but you know that may help frame like why do they not care about the fact that her economic policies are disastrous well because they&#8217;re focused on abortion,&#8221; he added.
 The venture capitalist noted that through human history all change, all revolution, all success did not come from the masses or the majority it came from a small organized group. So, the largest minority that is heavily organized that&#8217;s what wins, he said. 
The left has a very clean and clear message, Ravikant said, adding that &#8220;We&#8217;re all equal you know, it&#8217;s all based on your identity that&#8217;s where your differentiation and diversity comes and not on ideology or capability like if you can do more than somebody else, if you&#8217;re better at something than anybody else that&#8217;s not diversity the diversity is based on skin color and gender and identity and sexual proclivity.&#8221;
This is a very powerful frame because it makes one a single issue voter, he said.
 Freedom of Speech: Ravikant also weighed on Harris&#8217; speech about clamping down on social media. People who go around saying things are a threat to democracy are usually the threats to democracy, he said. 
&#8220;Evil comes from the desire to coerce, it comes from the desire to fix other people. Ironically these people have the most broken lives on their own,&#8221; Ravikant said, adding that they are miserable and don&#8217;t necessarily have happy home lives. 
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Venture Capitalist Naval Ravikant: Lawfare Against Trump Is 'Disgusting Behavior' That Could Turn US Into Dictatorship — 'This Selective Prosecution Thing Is A Disaster'

In a recent poll conducted by YouGov, most Americans expressed optimism about a peaceful <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">transition of power following the 2024 elections</a>.
What Happened: The <a href="https://today.yougov.com/politics/articles/50462-americans-say-democratic-party-is-more-one-of-lgbtq-people-republican-party-of-christians">poll</a> indicates that 55% of respondents believe a peaceful transition of power is &#8220;very&#8221; or &#8220;somewhat&#8221; likely after the 2024 elections. The report reveals a partisan divide in the expectations, with 65% of Democrats and 58% of Republicans anticipating a peaceful transition.
If Kamala Harris wins, 53% of Americans believe the transition will be peaceful. However, if Donald Trump wins, the figure rises slightly to 55%.
The survey&#8217;s findings come in the wake of former President Trump&#8217;s tumultuous exit from the White House after the 2020 elections. 
Also Read: <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">Scaramucci: &#8216;Trump Is In Trouble And He Knows It&#8217;, Slams Him On Conflicting Abortion Statements: &#8216;He&#8217;s Shotgunning Out Statements And Words&#8217;</a>
Trump was impeached for a second time following the Jan. 6, 2021, attack on the Capitol and was indicted in 2023 over his efforts to remain in power post his loss to Biden.
The YouGov survey was conducted from Aug. 21-25 with 1,083 respondents and has a margin of error of plus or minus 4 percentage points.
Why It Matters: The peaceful transition of power is a cornerstone of American democracy. The 2020 elections saw a turbulent transition, with Trump being impeached a second time and later indicted in 2023. These events have led to a heightened focus on the upcoming 2024 elections and the potential transition of power. 
The YouGov survey&#8217;s findings reflect this focus, with a majority of Americans expressing optimism about a peaceful transition. This optimism, however, is not uniform, with a noticeable partisan divide in expectations. 
The survey&#8217;s results underscore the importance of the 2024 elections and the potential implications for American democracy.
Read Next:
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Trump Vs Harris: Majority Of Americans Anticipate Peaceful 2024 Power Transfer If This Candidate Wins

UK Prime Minister Keir Starmer will meet Joe Biden for the first time since the U.S. president <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">announced he would not seek re-election</a>.
Starmer&#8217;s visit to the White House is scheduled for next Friday and will be his second since taking office, <a href="https://www.theguardian.com/politics/article/2024/sep/07/keir-starmer-joe-biden-meet-first-time-since-president-pulled-out-of-race" target="_blank" rel="noreferrer noopener">reported</a> The Guardian.
His initial visit occurred at the NATO summit shortly after Labour&#8217;s election victory, amid discussions about President Biden&#8217;s age and health, during which Starmer noted that Biden was in &#8220;good form.&#8221;
Since then, Kamala Harris has officially been selected as the Democratic nominee. According to a statement from White House Press Secretary Karine Jean-Pierre, the leaders will engage in &#8220;an in-depth discussion on a range of global issues of mutual interest.&#8221;
Also on the agenda will be efforts to secure a hostage release and a ceasefire agreement to end the war in Gaza.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/09/40754141/trumps-attorney-general-william-barr-accuses-biden-harris-admin-of-politicizing-cannabis-legaliz?itm_source=parsely-api" rel="noreferrer noopener">Trump&#8217;s Attorney General William Barr Accuses Biden-Harris Admin Of Politicizing Cannabis Legalization</a>
The discussion will also cover safeguarding international shipping in the Red Sea from Iranian-backed Houthi threats, promoting a free and open Indo-Pacific, and exploring ways to enhance U.S.-UK collaboration on securing supply chains and boosting climate resilience.
No meetings between Starmer and Harris have been announced, though it&#8217;s expected she will join the bilateral talks with Biden.
There are also no public plans for Starmer to meet Republican nominee Donald Trump, although such meetings have occurred in the past, like David Cameron&#8216;s with Mitt Romney in 2012.
In July, Starmer extended his best wishes to Trump and condemned the assassination attempt on the former president.
Recently, Starmer has traveled to Berlin and Paris in an effort to recalibrate the UK&#8217;s ties with European leaders.
On Saturday, he will head to Dublin to meet with Irish Taoiseach Simon Harris, marking the first official visit to Ireland by a UK prime minister in five years.
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The launch of Ohio's recreational cannabis market on August 6 has set the stage for significant growth, with early data showing a 45% sales increase at various marijuana shops in just two weeks. Wholesale performance has also been strong. 
&#8220;Ohio began non-medical sales on 8/6/24, but full AU rules aren&#8217;t out yet, limiting growth. In the first 26 days, total rec/med sales reached $75.6M, implying an annualized run rate of $1.06B, compared to $480M in 2Q24 (just med). We expect Ohio to reach 3-4x its current med base once the full AU program is in place,&#8221; Pablo Zuanic, senior analyst at Zuanic &amp; Associates, wrote in a Friday night note.
This positions cannabis company Vext Science Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VEXTF#OTC">VEXTF</a>) as a rising contender among multi-state operators (MSOs).
Get Benzinga's exclusive analysis and top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">2Q24 Financial Performance</h3>
Despite positive trends in <a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio</a>, Vext&#8217;s overall sales declined by 8% year-over-year in the second quarter, primarily due to challenges in Arizona where sales, which accounted for 61% of total revenue, fell by 34%, driven by price deflation and increased competition. 
<a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic's report </a>noted that despite outperforming the state average, Vext's Arizona stores still faced pressures. On the other hand, Ohio sales grew by 141%, partially boosted by mergers and acquisitions. 
&#8220;Vext&#8217;s profitability suffered due to startup costs in Ohio, with gross margins in both states declining by around 10 percentage points year-over-year," Zuanic wrote.
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<h3 class="wp-block-heading">Valuation And Future Projections</h3>
Zuanic highlighted Vext's current enterprise value (EV) of $77 million with a market cap of $43 million and $32 million in net debt. On a forward-looking basis, he projects that Vext could achieve a fivefold increase in valuation by late 2025, trading at 1.2x sales and 4.5x EBITDA by 4Q25.
&nbsp;"The company's high EBITDA torque to <a href="https://www.benzinga.com/markets/cannabis/24/08/40207399/cannabis-stocks-surge-with-ohios-recreational-sales-kickoff-and-strong-earnings-reports">Ohio's recreational market </a>makes it a compelling investment within the MSO group," added the senior analyst.
With further store expansions planned in Ohio and improvements in Arizona, Vext is expected to generate positive free cash flow (FCF) in the coming quarters, per the report.&nbsp;
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In a Manhattan courtroom on Friday, <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> came within feet of <a href="https://www.benzinga.com/topic/e-jean-carroll" target="_blank" rel="noreferrer noopener">E. Jean Carroll</a>, one of his most prominent accusers, as they attended oral arguments for his appeal of the $5 million jury verdict<a href="https://www.benzinga.com/news/24/08/40409472/trump-lists-over-50m-in-liabilities-for-legal-troubles-including-bond-in-ny-civil-fraud-case-and-e-j" target="_blank" rel="noreferrer noopener"> from last year that found him liable for sexual abuse and defamation</a>.
A panel of three federal judges from the 2nd Circuit Court of Appeals showed skepticism toward Trump&#8217;s effort to overturn the May 2023 verdict, <a target="_blank" href="https://www.politico.com/news/2024/09/06/trump-carroll-appeals-court-arguments-00177766" rel="noreferrer noopener">reported</a> Politico.
The verdict had determined he sexually abused Carroll in Bergdorf Goodman&#8217;s dressing room in the mid-1990s and later labeled her claim a &#8220;hoax.&#8221;
Trump did not look at Carroll in court, even as he walked directly in front of her upon entering the room. When Carroll&#8217;s lawyer, Roberta Kaplan, stated that Trump had sexually assaulted Carroll, he barely shook his head in response.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/09/40754141/trumps-attorney-general-william-barr-accuses-biden-harris-admin-of-politicizing-cannabis-legaliz" rel="noreferrer noopener">Trump&#8217;s Attorney General William Barr Accuses Biden-Harris Admin Of Politicizing Cannabis Legalization, &#8216;Ignoring Legal Standards, Scientific Evidence&#8217;</a>
The arguments on Friday did not address Carroll&#8217;s testimony directly but focused on the admissibility of testimony from another witness, Jessica Leeds, who alleged Trump groped her on a 1979 airplane, and the &#8220;Access Hollywood&#8221; tape from 2005, in which Trump bragged about grabbing women by their private parts.
Trump&#8217;s attorney, D. John Sauer, labeled the case as a &#8220;quintessential &#8216;he said, she said&#8217; case&#8221; and accused Carroll of having a &#8220;political motive&#8221; to tarnish Trump&#8217;s reputation.
Sauer contended that Jessica Leeds&#8217; testimony about the alleged 1979 airplane incident should be excluded because there was no federal law against sexual assault on an airplane at that time. However, Kaplan argued that a law prohibiting &#8220;simple assault&#8221; was in effect then, stating, &#8220;It was a crime then to grope someone on a plane. It is a crime today to grope someone on a plane.&#8221;
Sauer also argued that the Access Hollywood tape should not be considered a &#8220;confession&#8221; as claimed by Carroll&#8217;s lawyers because it does not refer to any specific incident. Judge Denny Chin responded that it was a &#8220;confession about a modus operandi,&#8221; to which Sauer replied that &#8220;modus operandi itself is inadmissible.&#8221;
The panel deciding Trump&#8217;s appeal is made up of three judges appointed by Democratic presidents: Chin and Judge Susan Carney by Barack Obama, and Judge Myrna Pérez by Joe Biden.
During the arguments, which lasted just over 20 minutes, Trump remained expressionless. As he left the courtroom, he ignored a reporter&#8217;s question about whether he was satisfied with the proceedings.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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E. Jean Carroll Case: Appeals Court Skeptical of Trump's Bid to Overturn Sexual Abuse Verdict

Elon Musk and JD Vance have been quite vocal about their <a href="https://www.benzinga.com/startups/23/09/34442000/elon-musk-is-now-the-father-to-11-children-after-a-3rd-baby-with-ex-girlfriend-grimes-was-announced">concerns regarding falling birthrates</a> and the need for people to have more kids. 
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Musk, for example, has frequently warned of a potential "population collapse," claiming it poses a greater threat to civilization than global warming. In his view, humanity must maintain or grow its numbers to avoid societal decline. Musk has even suggested that this issue is more urgent than many environmental concerns, arguing that <a href="https://www.benzinga.com/personal-finance/24/07/39649862/cant-possibly-think-of-genes-i-would-prefer-more-elon-musk-father-of-12-swayed-his-neuralink-exe">without enough people</a>, economies and industries will falter, especially as populations age.
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On the other hand, <a href="https://www.benzinga.com/personal-finance/24/08/40482592/jd-vance-shocks-with-claim-that-owning-a-new-car-costs-every-american-50-000-a-year">JD Vance</a> has taken a political stance on this issue. Vance has advocated for pro-family policies, drawing inspiration from Hungary's approach under Viktor Orbán, where the government incentivizes couples to have more children. Vance has asked why the U.S. couldn't implement similar measures to encourage family formation, seeing it as a way to strengthen the nation economically and culturally.
However, experts are pushing back against this pronatalist narrative, arguing that it's not the solution Musk and Vance make it out to be.
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According to demographers, the global population is still growing, albeit slower. They believe that when population decline does happen, it will be gradual and not the <a href="https://www.benzinga.com/general/24/05/38645768/elon-musk-warns-america-is-headed-towards-extinction-and-urges-people-to-have-more-children-to-fight">catastrophe that Musk predicts</a>. Instead of boosting birthrates, some experts suggest that governments should focus on policies like immigration to sustain population levels and support social programs like Social Security.
Critics of the pronatalist push also argue that these efforts place a disproportionate burden on women, who are typically the ones responsible for childbearing and child-rearing. They see the push for more children as a "Ponzi scheme," where new generations are expected to bear the weight of supporting the aging population, often without adequate support in terms of health care, child care, or parental leave.
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In addition, there's skepticism about whether pronatalist policies even work. Italy's 2020 Family Act, which aimed to reverse declining birthrates by offering child care subsidies and increased paternity leave, hasn't had the desired effect. Birthrates have continued to fall, suggesting that financial incentives alone may not be enough to encourage people to have more children.
Ultimately, while Musk and Vance frame increasing birthrates as a necessity for the future, experts warn that this approach oversimplifies complex social and economic issues, potentially leading to ineffective or even harmful policies in the long run.
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Elon Musk and JD Vance Want People to Have More Kids – But Experts Say This a 'Ponzi Scheme' With Burden Falling Heaviest On Women

It's been one year since the Zurich launched its cannabis study &#8220;Züri Can – Cannabis with Responsibility," enabling adults to legally obtain marijuana products and the first results are positive. The study enabled people aged 18 and older to access THC-containing hash and flower products from approved outlets, including pharmacies, social clubs, and the Zurich Drug Information Center.
"Initial results show high satisfaction with the product and prevention offerings at distribution points," read the <a href="https://www.stadt-zuerich.ch/gud/de/index/departement/medien/medienmitteilungen/2024/09/ein-jahr-nach-dem-verkaufsstart-von-zueri-can-cannabis-mit-verantwortung-positive-zwischenbilanz.html">press release</a> issued jointly by the City of Zurich, the University of Zurich and the Psychiatric University Hospital Zurich.
City councilor Andreas Hauri, head of Zurich&#8217;s Department of Health and Environment, commented, &#8220;With &#8216;Züri Can – Cannabis with Responsibility,&#8217; Zurich is taking a bold and innovative approach to drug policy. Our approach focuses on the health of consumers and shows that modern prevention efforts can go hand in hand with controlled access to cannabis products. We are delighted that the project has been so well-received and will provide valuable insights for future drug policy.&#8221;
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<h2 class="wp-block-heading">Initial Results</h2>
The project, set to run until October 2026, currently has around 2,100 participants. Two percent of applications were rejected for health reasons. So far, around 150 participants have left the study for various reasons, such as failing to complete the biannual survey or deciding to stop using cannabis.
Per the report, more than half of the participants consume cannabis at least four times a week and most participants report good health. The distribution points offer advice and guidance, promoting safer consumption methods. Participants are satisfied with the services, as 90% rate the staff at the outlets as competent.
&#8220;Individual counseling on harm reduction and health promotion is particularly important. We are pleased that the free consultations are being well-received,&#8221; stated project manager Barbara Burri.
In the first 12 months, approximately 36,000 sales were made at the distribution points, amounting to around 300 kg of cannabis products sold. As many as 88% of participants are satisfied with the quality of the products offered. However, some participants expressed a desire for more variety and options. To meet this demand, four new flower products will be introduced in the second year, bringing the total to 13 cannabis products available.
Upcoming surveys will examine whether participants&#8217; knowledge and behavior regarding safer consumption have improved and how their health and social situations evolve in the long term.
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Anthony Scaramucci anticipates a panic-stricken <a href="https://www.benzinga.com/24/08/40429823/anthony-scaramucci-says-donald-trumps-divisive-tactics-will-lead-to-the-first-african-american-woman">Donald Trump as his sentencing date approaches</a>.
What Happened: In a post on X, Scaramucci predicted that Trump will lose the November 5 presidential election and then &#8220;start panicking&#8221; over his sentencing on New York felony convictions three weeks later.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With the sentencing looming on Nov 26, Trump will start panicking after he loses Nov 5.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1832218429119459775?ref_src=twsrc%5Etfw">September 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, he stated, &#8220;There is more of us than there are for him. Trump will lose.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">Scaramucci: &#8216;Trump Is In Trouble And He Knows It&#8217;, Slams Him On Conflicting Abortion Statements: &#8216;He&#8217;s Shotgunning Out Statements And Words&#8217;</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is more of us than there are for him. Trump will lose.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1832184340177907844?ref_src=twsrc%5Etfw">September 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Scaramucci&#8217;s prediction comes amid a heated political climate, with the upcoming elections sparking widespread debate and speculation. His tweet suggests a belief in a shift in public sentiment away from Trump.</figcaption></figure>
Scaramucci was briefly White House Director of Communications under Trump&#8217;s administration. He is known for his outspokenness and has been a vocal critic of Trump since his departure from the White House.
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Why It Matters: The tweet comes at a time when Trump&#8217;s legal troubles are escalating. The former president is facing multiple lawsuits and investigations, including a criminal investigation in New York. 
Scaramucci&#8217;s prediction of Trump&#8217;s panic suggests a belief in a negative outcome for Trump in his upcoming legal battles.
While Scaramucci did not specify what loss he expects for Trump on November 5, his tweet has sparked speculation and discussion among his followers and political observers. 
The upcoming weeks will reveal whether Scaramucci&#8217;s prediction holds true.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Anthony Scaramucci: Trump Will Lose, Then 'Start Panicking' Over November Sentencing

A Food and Drug Administration (FDA) advisory panel <a href="https://www.benzinga.com/markets/cannabis/24/08/40300943/fda-rejects-mdma-for-ptsd-treatment-calls-for-more-research-on-psychedelic-therapy">overwhelmingly rejected</a> MDMA-assisted therapy for treating <a href="https://www.benzinga.com/markets/cannabis/24/08/40637513/multidisciplinary-association-for-psychedelic-studies-funds-mdma-assisted-therapy-trial-for-ptsd">post-traumatic stress disorder (PTSD).</a> in early August, citing significant concerns about the treatment and research process.
Among the primary issues were design flaws in clinical trials, the potential for MDMA abuse and uncertainties surrounding the role of accompanying psychotherapy. The panel also pointed to allegations of misconduct during the <a href="https://www.benzinga.com/markets/cannabis/24/09/40741952/shake-up-at-lykos-therapeutics-after-fda-blocks-ecstasy-based-treatment-ceo-steps-down">Lykos Therapeutics study.</a>
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For advocates of psychedelic medicine, this rejection is a major setback. April Pride, CEO and founder of SetSet, is among them. "The FDA's decision to reject the new drug application for MDMA to treat PTSD is a significant setback for the psychedelic medicine community," she told Benzinga in an exclusive interview.
"This rejection might inadvertently drive the demand for unregulated, unsafe MDMA products on the black market as patients and practitioners seek alternative means of treatment," Pride added.
<figure class="wp-block-image alignright size-large is-resized"><img loading="lazy" decoding="async" width="683" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res-683x1024.jpg" alt="" class="wp-image-535514" style="width:206px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res-683x1024.jpg 683w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res-200x300.jpg 200w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res.jpg 720w" sizes="(max-width: 683px) 100vw, 683px" /><figcaption class="wp-element-caption">Image courtesy of April Pride.</figcaption></figure>
<h3 class="wp-block-heading">Prioritizing Safety: How SetSet Is Driving Progress In Psychedelic Harm Reduction</h3>
Pride's company, SetSet, is addressing these safety concerns head-on. Focused on providing harm-reduction education, SetSet ensures that its female members, many of whom use psychedelics outside clinical settings, have access to safe practices. 
"We know that three out of four people take psychedelics outside of a clinical setting, so to ensure safe practices, we provide harm-reduction education created by licensed healthcare practitioners," she said.
SetSet also offers transparency on testing kits, dosage instructions and therapeutic support &#8211; all aimed at reducing the risks associated with psychedelic use.
Pride noted that "one in five people have challenging experiences, and intentional, therapeutic support can help unwind thoughts and feelings."
She also pointed out that there&#8217;s a higher likelihood of difficult psychedelic experiences among women, which can be linked to hormonal fluctuations. "Female hormones are likely the reason that women are more likely to have difficult experiences, so SetSet also educates them about the optimal timing of administration to align with menstruation."
<h3 class="wp-block-heading">Urgent Call For Regulatory Reform In Psychedelic Therapy</h3>
In response to the FDA's ruling, Pride advocates for regulatory reforms, insisting that a &#8220;specialized regulatory pathway for psychedelics&#8221; is necessary, one that allows for an ongoing approval processes.
"This would enable real-world evidence collection while ensuring patient safety rather than requiring absolute certainty before approval," she explains. Pride also stressed the importance of education and certification programs for practitioners and stricter guidelines for third-party testing to protect consumers from adulterated products.
<h3 class="wp-block-heading">The Future Of Psychedelic Medicine</h3>
Despite the FDA's decision, Pride says she remains optimistic about the future of psychedelic medicine. While the FDA&#8217;s rejection might slow down the industry's momentum, Pride believes it will spur innovation. "We may see an increased focus on other promising compounds, such as psilocybin and ketamine, which have shown firm safety profiles in clinical trials," she said.
Pride also foresees efforts to improve drug formulations and safety protocols to address the FDA's concerns. "For example, one lab is working on an MDMA-like compound that mitigates the challenges of MDMA down-regulation, which speaks to the FDA's concern with neurotoxicity." 
In the long run, this setback could lead to a more resilient and well-regulated industry. As Pride explains, the industry's ability to adapt and address these challenges will be key to usher in "transformative treatments to those in need."
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Governor Gavin Newsom&#8216;s <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">Friday </a><a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">announcement </a>that his administration intends to undertake emergency regulations that would ban hemp products containing any "detectable amount of total THC" sent shock waves through California&#8217;s hemp and cannabis industry. Newsom said in a <a href="https://www.gov.ca.gov/2024/09/06/governor-newsom-issues-regulations-to-protect-kids-from-dangerous-and-intoxicating-hemp-products/" target="_blank" rel="noreferrer noopener">statement</a> that the emergency rules, which include limiting sales to five servings per package and exclusively to adults over 21, were essential to protect children from &#8220;dangerous hemp and cannabis products.&#8221;
Cheech and Chong's Global Holding Company (CCGHC) joined the chorus of cannabis and hemp industry stakeholders to comment on the governor's move.
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&#8220;We understand the challenges the governor&#8217;s office is addressing, but we believe that an outright ban is unnecessary and unsupported by the facts. Our products are explicitly designed for adult use and are not targeted at children. We are committed to collaborating with the Governor to ensure the safety of all consumers, particularly minors,&#8221; said Jonathan Black, CEO of CCGHC in a statement shared with Benzinga. 
The CCGHC added that that low-dose hemp-derived THC products should be regulated similarly to alcohol and tobacco.
<a href="https://www.benzinga.com/markets/cannabis/24/05/38599614/cheech-and-chong-brand-ceo-talks-cannabis-retail-expansion-and-designs-that-resonate-with-the-le" target="_blank" rel="noreferrer noopener">Cheech and Chong&#8217;s Cannabis Company</a>, known for its stringent testing procedures that include third party-party labs results, pointed out that its products are &#8220;age-gated and marketed similarly to alcohol and tobacco to ensure that only adults have access to them.&#8221;
&#8220;Our products are developed with rigorous safety standards and thorough testing to ensure they pose no public risk. We value transparency and consumer protection and are always eager to collaborate with state regulators to foster an environment where safety and innovation coexist seamlessly,&#8221; said Brandon Harshbarger, president of CCGHC.
Ted Whitney, chief beverage officer of CCGHC said the proposed ban overlooks the preferences and rights of adult consumers, who are capable of making informed choices about hemp products.
&#8220;While we align with the Governor's office on the importance of public safety, we firmly believe that an outright ban misses the mark. Collaborative regulation, involving both the industry and state authorities, would more effectively protect public safety and uphold consumer choice,&#8221; Whitney stated. &#8220;It's disheartening that the proposed amendments and their potential to generate $210 million in tax revenue were overlooked. This oversight not only deprives Californians of a legitimate and safe market but also inadvertently benefits illicit operations.&#8221;
CCGHC noted that it would continue to advocate for regulations that support consumer choice without compromising safety.
Gov. Newsom&#8217;s proposed rules need the approval of the California Office of Administrative Law before they go into effect.
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Photo: S Bukley on Shutterstock

Government

Regulations

Cheech And Chong's Cannabis Company Responds To Gov Newsom's Ban On Hemp Products Containing Any 'Detectable Amount' Of THC

Former President Donald Trump has expressed his intention to appoint Elon Musk to lead a new agency dedicated <a href="https://www.benzinga.com/news/24/08/40147580/heres-how-an-elon-musk-backed-pac-harnesses-voter-data-to-support-donald-trump">to enhancing government efficiency</a> if he wins the November election.
What Happened: According to reports, Trump has plans to create a government efficiency commission. The proposed body aims to carry out a thorough financial and performance audit of the entire federal government. Musk is Trump&#8217;s choice to spearhead this initiative.
The concept of the commission was initially suggested by Musk on his social media platform, X last month. Musk voiced his interest in ensuring the effective use of taxpayer money. 
On Saturday also he hinted the same by posting about the Department of Government Efficiency – &#8220;DOGE&#8221; – on X.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Department of Government Efficiency <a href="https://t.co/HFeHYNIkJN">pic.twitter.com/HFeHYNIkJN</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1832319390940881133?ref_src=twsrc%5Etfw">September 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am willing to serve <a href="https://t.co/BJhGbcA2e0">pic.twitter.com/BJhGbcA2e0</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1825723913051000851?ref_src=twsrc%5Etfw">August 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, his potential leadership of a body focused on efficiency has sparked concerns, given the recent inefficiencies and controversies linked to his companies.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures">What A Second Trump Presidency Would Mean For Elon Musk And His Many Ventures</a>
For example, Tesla has grappled with several challenges this year, including recalls of over a million vehicles due to faulty parts, a settlement over racial discrimination allegations, and a class-action lawsuit claiming the company encouraged a racially discriminatory work environment. 
"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government,"&nbsp;he said at the Economic Club of New York. 
&#8220;Musk has agreed to head that task force," he said. &nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump: At the suggestion of Elon Musk.. I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government… Elon has agreed to head the task force <a href="https://t.co/57tdNkkI3U">pic.twitter.com/57tdNkkI3U</a>
&mdash; Acyn (@Acyn) <a href="https://twitter.com/Acyn/status/1831734231674056805?ref_src=twsrc%5Etfw">September 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Additionally, Musk&#8217;s management of his social media platform X has been criticized for an increase in hate speech and technical glitches.
Despite these issues, Trump&#8217;s announcement demonstrates his readiness to involve prominent figures in his campaign, possibly to draw in affluent donors.
Why It Matters: The proposed commission and Musk&#8217;s potential involvement underscore the ongoing debate about the role of private sector leaders in public service. 
While Musk&#8217;s entrepreneurial success is undeniable, his companies&#8217; recent controversies raise questions about his suitability for a government role focused on efficiency. 
Furthermore, the announcement could be seen as a strategic move by Trump to engage high-profile individuals and wealthy donors in his campaign. However, the effectiveness of this strategy remains to be seen.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

TSLA

Could Elon Musk Lead 'DOGE' If Donald Trump Returns To The White House?

<a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a>&#8216;s Saturday rally in Wisconsin underscores his campaign&#8217;s effort to strengthen his support among working-class and rural white voters <a href="https://www.benzinga.com/topic/wisconsin" target="_blank" rel="noreferrer noopener">in a crucial battleground state</a>.
Since <a href="https://www.benzinga.com/topic/kamala-harris" target="_blank" rel="noreferrer noopener">Kamala Harris</a> replaced President <a href="https://www.benzinga.com/topic/joe-biden" target="_blank" rel="noreferrer noopener">Joe Biden</a> at the top of the Democratic ticket over the summer, the former president has seen his support diminish across most demographic groups, reported Reuters.
Trump spoke in Mosinee, a town with around 4,500 residents near Wausau. This area is remote from Wisconsin&#8217;s major population centers, Milwaukee and Madison.
Marathon County, where Mosinee is located, was once a competitive region, voting for Barack Obama in 2008. However, it has shifted rightward, supporting Trump by approximately 18 points in both 2016 and 2020.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/09/40738353/donald-trumps-probability-to-launch-a-cryptocurrency-before-2024-election-rises-to-48-says" rel="noreferrer noopener">Donald Trump&#8217;s Probability To Launch A Cryptocurrency Before 2024 Election Rises To 48%, Says Polymarket</a>
Nationally, Harris leads Trump by 13 percentage points among Hispanic voters, according to the latest Reuters/Ipsos poll from August, up from Biden&#8217;s five-point lead in May. She has also increased her support among Black Americans, outperforming Biden by seven points. However, her impact on white voters has been minimal.
The same polls reveal that white voters without a college degree, a key part of Trump&#8217;s base, still prefer him by 25 points, compared to a 29-point margin in his race against Biden.
Trump&#8217;s relative strength among white voters is seen as a key advantage, with several of his advisers and allies recently telling Reuters that maintaining these margins will be critical for his potential victory over Harris.
This is particularly important in the northern &#8220;Rust Belt&#8221; states, including Wisconsin, which have large white and rural populations. Trump&#8217;s success in these areas was pivotal to his 2016 triumph over Hillary Clinton.
Biden secured the presidency in 2020 partly by regaining support from some of these voters for the Democratic Party. Although the Trump campaign is targeting Hispanic and Black male voters as crucial for Republican growth, much of Trump&#8217;s recent campaigning has focused on less diverse small cities and towns in the Rust Belt.
According to two Trump advisers, Trump&#8217;s running mate JD Vance is expected to intensify efforts in relatively rural Rust Belt areas in the final weeks leading up to the election.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Image: Shutterstock

Trump's Strategy: Double Down On White Voters In The Rust Belt While Kamala Harris Expands Minority Support

Donald Trump urged the Fraternal Order of Police national board in Charlotte, N.C., to &#8220;watch for voter fraud&#8221; in November, a suggestion that might conflict with state <a href="https://www.benzinga.com/markets/cannabis/24/09/40754141/trumps-attorney-general-william-barr-accuses-biden-harris-admin-of-politicizing-cannabis-legaliz" target="_blank" rel="noreferrer noopener">laws and potentially lead to claims of voter intimidation</a>.
While reiterating his repeatedly debunked claims of widespread election fraud, Trump suggested that police officers might intimidate individuals suspected of committing voter fraud, <a href="https://www.nytimes.com/live/2024/09/06/us/harris-trump-election?source=nyt_sports" target="_blank" rel="noreferrer noopener">reported</a> the New York Times.
&#8220;You can keep it down just by watching because, believe it or not, they&#8217;re afraid of that badge,&#8221; he said.
Trump addressed the nation&#8217;s largest police labor group, which boasts over 370,000 members, after the organization endorsed him for the third time earlier on Friday.
Also Read: <a target="_blank" href="https://www.benzinga.com/personal-finance/24/09/40759324/want-to-get-very-rich-charlie-munger-and-warren-buffett-say-you-only-need-3-wonderful-businesses" rel="noreferrer noopener">Want to Get &#8216;Very Rich&#8217;? Charlie Munger and Warren Buffett Say You Only Need 3 Wonderful Businesses – Not 30 Stocks</a>
His visit to Charlotte took place just hours after he had gathered journalists in the lobby of Trump Tower in Manhattan. During this impromptu press conference, he detailed various sexual harassment allegations made against him, openly attacking the women who brought these claims forward.
On the same day, in a separate legal matter, Trump&#8217;s sentencing for a criminal trial involving the falsification of business records was postponed until after the upcoming election.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Trump Urges Police To 'Watch for Voter Fraud' Amid Claims of Intimidation And Legal Controversies

<a href="https://www.benzinga.com/real-estate/24/09/40691353/homeowners-have-17-trillion-in-home-equity-grant-cardone-says-imagine-if-that-money-was-invested-ear">Homeowners </a>in the Villas of Carillon, a quiet townhome community nestled in Feather Sound, Florida, are reeling after their Homeowners Association (HOA) board dropped a bombshell: a $60,000 special assessment. 
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The shock wave hit the residents hard when they received notices in early June explaining the grim reality that their HOA's reserves, which had never been fully funded in the neighborhood's 20-year history, were on the verge of depletion. The looming financial challenge threatened to snowball, leaving every household facing a hefty bill.
The notice sent shivers through the community, with each household expected to pay around $60,000. A vote was scheduled for late June to determine the payment plan, but the news didn't sit well with many residents.
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"I was in shock. I immediately started texting other neighbors," said Tammy Rodeffer, a concerned homeowner, in a conversation with local station WTSP. "We're talking about people having to sell, facing liens, even foreclosures. It's terrifying."
As the special meeting date loomed, homeowners rallied. The mood was tense as the residents packed the meeting, eager to persuade the board to halt the decision.
"You've got to pull together on this," urged Robert Regan, another resident, at the meeting. "This problem isn't going to just disappear. And for condos, 100% reserves are a must."
But just when the community thought the dust might settle, the unexpected happened. In an email sent out right after the vote on June 21, the entire HOA board announced their immediate resignation. The vote was tabled indefinitely, leaving the residents in limbo as they scrambled to figure out their next move.
The big question lingering in everyone's mind: What exactly is driving these sky-high special assessment fees?
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The story takes a twist when you dig into recent history. Ever since the tragic Surfside condo collapse in 2021, which claimed 98 lives due to shoddy construction, Florida has tightened building inspection regulations. Condo associations across the state are hiking fees to bulk up reserves for essential repairs. New state laws now require regular reserve studies and annual contributions, but they only apply to buildings three stories or taller. The Villas at Carillon? Just two stories.
The now-defunct HOA board had argued that insurance companies would eventually refuse to cover the complex without the necessary reserves, particularly with aging roofs that would soon need replacing. Yet, not everyone is convinced that the steep assessment is the only way forward.
Patricia Staebler, a seasoned reserve specialist from Sarasota, pointed out that special assessments should be avoidable if a project's cost is planned over time. "Reserves should be built gradually," she explained. "With annual increases spread out over 30 years, you don't need 100% funding right away, but you do need to meet your yearly targets."
Staebler's 15 years in the field taught her that perfect funding is a myth. "I've never seen an association with 100% funding," she admitted, "but meeting your annual reserve requirements is critical."
Trending: This city is the clear winner of Zillow's 2024 Home Value Forecast —<a href="https://www.benzinga.com/money/winner-zillow-2024-home-value-forecast">No surprise as the number of millionaires there grew by 75% in the last decade.</a>
As the dust settles, town house owners are left searching for answers. They hope the delay will buy them time to investigate the numbers and determine why the assessment ballooned to such an eye-watering figure.
"We need to see the paperwork, go through all the financials, and understand how they arrived at these numbers," Rodeffer said, echoing the community's sentiment.
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Real Estate

Florida Homeowners Association Board Resigns En Masse Over $60,000 Special Assessment Dispute – Find Out What Sparked the Crisis

The <a href="https://www.benzinga.com/markets/equities/24/09/40754257/stocks-tumble-on-jobs-data-nasdaq-100-eyes-worst-week-in-2-years-as-semiconductors-slump-whats-d">market mayhem following the release of weak economic data </a>did not spare electric-vehicle stocks and most ended lower for the week ended Sept. 6. Market leader Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), despite staging a recovery mid-week, gave back its gains amid Friday&#8217;s jobs data-induced market sell-off.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla Announces Timeline For FSD: As Tesla&#8217;s core EV business has hit an air pocket, the company and its stakeholders are pinning their hopes on the full-self driving technology. FSD is expected to fetch the company high-margin recurring revenue stream. Tesla announced on its Tesla X subsidiary&#8217;s X handle this week anticipated timelines for launching the technology in its Cybertrucks and in other geographies. 
The company expects the rollout of FSD Supervised v12.5.2 iteration with three times improved miles between necessary interventions in September. Also planned for the month are Actually Smart Summon feature, which allows your vehicle to come to you, or head to a spot that you choose, all on its own, Cybertruck Autopark, and Cybertruck FSD. In October, the company plans to make available unpark, park and reverse in FSD v13, with six times improved miles between necessary intervention. 
The FSD package will be made available in China and Europe in the first quarter of 2025, contingent on securing regulatory approval. Industry watchers say FSD will become a differentiator for the company in China, where it is facing intensifying competition. 
Separately, Tesla bull and Morgan Stanley analyst Adam Jonas dampened expectations concerning the upcoming Oct. 10 Robotaxi Day. In a note released this week, the analyst said there is likely to be a demonstration of the latest iteration of FSD and that of a fully autonomous ‘cyber-cab,' mostly in a closed/semi-closed course. The company is yet to have a permit for autonomous vehicle testing or deployment without a driver, he noted.
Nio Stock Jumpstarts On Strong Q2: Chinese EV startup Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) reported second-quarter results, showing better-than-expected revenue and improved margins. The company also issued an upbeat deliveries guidance for the third quarter. CEO William Li said on the earnings call that the first mass market vehicle from the company&#8217;s stable, the Onvo 60, will go on sale in September, with monthly deliveries likely to come in north of 20,000 units. The stock reacted to the results with a strong move to the upside, ending up more than 24% for the week. 
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Volvo Latest To Temper EV Ambitions: Sweden&#8217;s Volvo Car AB (publ.) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLVCY#OTC">VLVCY</a>), owned by Geely Automobile Holdings Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>), said it aims for 90 to 100% of its global sales volume by 2030 to consist of electrified cars, meaning a mix of both fully electric and plug-in hybrid models. The remaining 0-10% will allow for a limited number of mild hybrid models to be sold, if needed. This replaces the company's previous ambition for its line-up to be fully electric by 2030. U.S. legacy automakers General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) have all recently trimmed their EV goals in some form or other amid tough market conditions. 
Faraday Future Mobilizes $30M Funding: Struggling EV startup Faraday Future Intelligent Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NYSE">FFIE</a>) confirmed this week <a href="https://www.benzinga.com/news/24/09/40749189/why-is-faraday-future-stock-racing-higher">it has secured $30 million in financing commitments</a> from investors in the Middle East, U.S., and Asia. The new financing commitment includes a previously funded $7.5 million, and $22.5 million of new investment in the form of convertible notes and warrants to acquire additional shares. Separately, the company said it has been informed by Nasdaq that it had regained compliance with all Nasdaq continued listing criteria.
Hyzon Announces Reverse Split: Hydrogen fuel-cell energy company Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>) said its board and stockholders approved a 1-for-50 reverse stock split of its Class A common stock, with the split taking effective on&nbsp;Sept. 11. The reverse split is intended to increase the bid price of the Company&#8217;s Class A common stock so that Hyzon can regain compliance with the minimum bid price requirement of&nbsp;$1&nbsp;per share for continued listing on the Nasdaq.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session plunged 3.83% at $18.55, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF fell 2.78% .
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-1.58%</td>
</tr>
<tr>
<td>Nio</td>
<td>+24.26%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+6.09%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-5.91%</td>
</tr>
<tr>
<td>Workhorse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>-14.85%</td>
</tr>
<tr>
<td>Hyzon Motors</td>
<td>+3.18%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>-5.26%</td>
</tr>
<tr>
<td>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</td>
<td>-6.37%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>-11.19%</td>
</tr>
<tr>
<td>Faraday Future </td>
<td>-4.57%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-20.66%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>+3.89%</td>
</tr>
</tbody>
</table>
</figure>

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Launch One Acquisition

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