Trump's wealth down $700m after US presidency
Donald Trump's net worth has dropped by about $700m to $2.3bn (£1.65bn) during his time as president, according to the Bloomberg Billionaires Index.
The Covid-19 pandemic hit his fortunes hard, with Mr Trump's office buildings, branded hotels and resorts losing revenue and falling in value.
His fleet of planes and golf courses have also seen drops in their value.
Mr Trump is currently under a criminal investigation into his financial affairs and his family business.
Bloomberg analysed financial documents and other filings from May 2016 and January 2021 to calculate Mr Trump's wealth before and after he became US president.
Mr Trump's commercial real estate accounts for about three-quarters of his net worth. The office towers he owns or co-owns have seen big drops in valuations as more people work from home, a trend that could last in the long term.
Bloomberg estimates a 26% drop in the value of his main commercial property holdings.
He also owns, manages or licenses his name to about a dozen hotels and resorts, plus 19 golf courses.
Although golf has become popular during the pandemic as a socially distanced outdoor sport, Mr Trump's two courses in Scotland have consistently lost money, filings show.
After the Capitol Hill siege in January, the Professional Golfers' Association (PGA) of America ended an agreement to host its 2022 championship tournament at Mr Trump's New Jersey golf course, saying it would hurt the group's brand.
Deutsche Bank, the only bank willing to lend to him after his bankruptcies in the 1990s, also said after the riots that it would not do business with him again.
Mr Trump also owns a fleet of planes that includes a Boeing 757. These planes are decades old and have been marked down in value over the years, according to financial disclosures seen by Bloomberg.
Seven planes were valued at around $59m in 2015 and five were valued at about $6.5m in 2020. The value of Mr Trump's aircraft has dropped over the years, in part because he has sold some of his fleet.
During his presidency, Mr Trump's finances were regularly in the spotlight and he has been very secretive about how much tax he pays.
Last month the Supreme Court ordered Mr Trump to hand over his tax returns and other financial records to prosecutors in New York.
For months they have been trying to obtain eight years' worth of Mr Trump's personal and corporate tax returns.
The investigation was originally started in 2018 to examine the Trump Organization's role in hush-money payments made during the 2016 presidential campaign to two women who said they had had affairs with Mr Trump.
Source-BBC
Tanzania's president dies aged 61 after Covid rumours
Tanzania's President John Magufuli has died aged 61, the country's vice-president has announced.
He died on Wednesday from heart complications at a hospital in Dar es Salaam, Samia Suluhu Hassan said in an address on state television.
Magufuli had not been seen in public for more than two weeks, and rumours have been circulating about his health.
Opposition politicians said last week that he had contracted Covid-19, but this has not been confirmed.
Magufuli was one of Africa's most prominent coronavirus sceptics, and called for prayers and herbal-infused steam therapy to counter the virus.
"It is with deep regret that I inform you that today... we lost our brave leader, the president of the Republic of Tanzania, John Pombe Magufuli," Vice-President Hassan said in the announcement.
According to Tanzania's constitution, Ms Hassan will be sworn in as the new president and should serve the remainder of Magufuli's five-year team which he began last year.
Magufuli was last seen in public on 27 February, but Prime Minister Kassim Majaliwa insisted last week that the president was "healthy and working hard".
He blamed the rumours of the president's ill-health on "hateful" Tanzanians living abroad.
SOURCE-BBC
TCI PUBLIC FORECAST FOR THURS
GENERAL SITUATION: A PERSISTENT HIGH-PRESSURE SYSTEM CENTERED NORTH OF THE AREA WILL CONTINUE TO SUPPORT MOSTLY DRY AND STABLE CONDITIONS ACROSS THE COUNTRY.
SPECIAL WARNINGS: BEACHGOERS ARE ASKED TO EXERCISE CAUTION DUE TO THE RISK OF RIP CURRENTS, MAINLY AT NORTH AND EAST COAST BEACHES.
ALL AREAS
WEATHER: PARTLY TO MOSTLY SUNNY, WARM AND BREEZY WITH THE SLIGHT CHANCE OF A QUICK PASSING SHOWER TODAY. FAIR AND MILD TONIGHT.
ADVISORY: A SMALL CRAFT ADVISORY IS IN EFFECT FOR THE TCi, CENTRAL AND SOUTHEAST BAHAMAS.
WINDS: SOUTHEAST TO SOUTH AT 10 TO 15 KNOTS BUT GUSTY AT TIMES IN THE NORTHWEST BAHAMAS AND EAST TO SOUTHEAST AT 15 TO 25 KNOTS OVER OPEN WATERS IN THE CENTRAL AND SOUTHEAST BAHAMAS.
SEAS: 2 TO 4 FEET BUT HIGHER IN GUSTS IN THE NORTHWEST BAHAMAS AND 5 TO 8 FEET OVER THE OCEAN IN THE CENTRAL AND SOUTHEAST BAHAMAS…SEAS SLIGHTLY HIGHER ACROSS ALL AREAS IN SUBSIDING NORTHEASTERLY SWELLS.
DAYTIME HIGH TEMPERATURE 84°F 29°C
OVERNIGHT LOW TEMPERATURE 68°F 20°C
SUNRISE: 7:17 AM SUNSET: 7:18 PM
MOONRISE: 9:50 AM MOONSET: 11:07 PM
HIGH TIDE: 11:12 AM & 11:37 PM
LOW TIDE: 5:22 PM & 5:59 AM THUR.
WEATHER OUTLOOK: 11:00 AM (FOR TOMORROW/WEEKEND) THE ONCE DOMINANT HIGH PRESSURE SYSTEM WILL BEGIN TO RETREAT EASTWARDS AHEAD OF A COLD FRONT THAT IS EXPECTED TO REACH THE NORTHWEST BAHAMAS ON LATE FRIDAY OR EARLY SATURDAY MORNING.
GOVERNOR’s APPOINTED MEMBER TO THE PUBLIC ACCOUNTS COMMITTEE – RUTH FORBES
The Public Accounts Committee (PAC) is one of the two most powerful Standing Committees in the House of Assembly – the other being the Appropriations Committee.
The PAC’s role is to retrospectively review public sector expenditure and hold the Government of the day to account for that expenditure. Section 122(1) of the Constitution sets out that it is chaired by the Opposition. Based on the current composition of the House, it is likely to have two members from the Government benches along with two expert members: one appointed by the Governor and one by the Speaker. Amongst other matters the Committee looks closely at reports from the Auditor General. As a Standing Committee of the House, the appointment lasts for four years.
As a result I have been asked to nominate an expert member to this Committee and have chosen to appoint Mrs Ruth Forbes.
Mrs. Forbes has a Diploma in Business Administration (Honours) from University of Technology, Kingston, Jamaica and a Bachelor’s degree in Accounting from Barry University, Florida, USA. She successfully completed the Certified Public Accountant (CPA) examinations in 2003 and Certified Management Accountant (CMA) in 2014. Prior to joining FortisTCI in 2006, she served as Senior Auditor at PriceWaterhouseCoopers, Turks and Caicos Islands.
At FortisTCI, Ruth served as Company Secretary, Chief Financial Officer, Senior Vice President of Corporate Services, and was appointed as President and CEO of FortisTCI in the Turks and Caicos Islands (TCI) in August 2020. She stands as one of the few female CEOs in the utility sector serving the Caribbean region. Ruth currently serves as a Director on the Board of Fortis Ontario a sister utility of FortisTCI.
Ruth is a former Director of the Turks and Caicos Airports Authority Board and the Turks and Caicos National Insurance Board. She is also a philanthropist and founder of “Jewels Ablaze” a not-for-profit organization geared at mentoring, developing and supporting young women in the community.
This career, and set of professional qualifications will, I believe, allow Ruth to serve TCI well as an expert member of the PAC and brings much skill learned in the accounting and private business sector into a key Committee in the House of Assembly.
Ruth’s appointment completes the three appointments I make to support the work of the Legislature. Along with Harold Charles and Willin Belliard I believe this appointment brings a full range of diverse expertise, skill and background into the House and I’m confident all three will make important contributions to these Islands’ future. I wish all three well.
Caribbean visitor arrivals decline by more than 65 per cent
Tourist arrivals to the Caribbean fell by 65.5 per cent in 2020, according to the Caribbean Tourism Organisation (CTO), but it is forecasting a turnaround this year.
In a statement released yesterday, the CTO said the impact of COVID-19 on the travel and tourism industry was particularly evident during the period of April to mid-June, when there was literally no activity in some destinations.
“This was characterised by empty hotels and restaurants, deserted attractions, shut borders, laid-off workers, grounded airlines and crippled cruise lines. While we saw some fluctuations in the levels of visitors for the remaining months of 2020, the influx of visitors has not reached levels even closely comparable to those being experienced prior to March 2020,” it said.
“In fact, some destinations remain closed to visitors, with limited airlift primarily for repatriation of locals and cargo.”
There was a 72 per cent slide to 8.5 million cruise visits in 2020, when compared to the 30 million visits in 2019.
Cruise lines plying Caribbean routes remain non-operational due to a strict ban imposed by the US Centres for Disease Control and Prevention(CDC).
The CTO noted that with government restrictions both in the Caribbean and globally reducing and, in many cases, preventing travel for large periods of time, tourist arrivals to the region in 2020 fell to just over 11 million, a decline of 65.5 per cent when compared to the record 32 million tourist visits in 2019.
The CTO said a period of virtually no tourism began in mid-March, and the second quarter was the worst-performing with arrivals down by 97.3 per cent. Tourists began visiting again in June as the sector began to reopen.
“Still, the fall-off in stayover arrivals continued through to September — when a gradual reversal began — and continued right up to December. Destination initiatives such as the long-stay work programmes, other promotional activities and efforts of regional organisations such as the CTO, the Caribbean Hotel and Tourism Association and the Caribbean Public Health agency, contributed to the gradual rise in arrivals,” the regional tourism organisation said.
Like stayover arrivals, cruise was buoyed by the performance in the first three months of 2020, particularly the month of February, when there was a 4.2 per cent rise in visits.
However, a 20.1 per cent fall in the first quarter was followed by no activity for the remainder of the year as ships remained non-operational. The overall result was a 72 per cent slide to 8.5 million cruise visits, when compared to the 30 million visits in 2019.
The limited travel beyond the first two-and-a-half months of the year, resulted in difficulties in compiling visitor expenditure numbers in 2020.
However, based on information derived from international partners such as the United Nations World Tourism Organization (UNWTO), and limited reporting by Caribbean countries, the CTO estimated that across the region visitor expenditure declined by 60 to 80 per cent, in line with the decline in stayover and cruise arrivals.
Preliminary data indicates that the average length of stay for 2020 remained at roughly seven nights, the same as in in 2019.
In its forecast, the CTO said the Caribbean's performance in 2021 will depend largely on the success of the authorities in the marketplace and the region in combating, containing and controlling the virus.
“Already, there are some encouraging signs like the vaccine roll-out taking place in North America, Europe and the Caribbean,” it said.
“However, this must be tempered by some other factors such as: lockdowns in our key source markets which are expected to continue into the second quarter, international travel confidence not expected to pick up until the summer 2021, a steep fall in the number of people planning to travel abroad and the possible requirement by the authorities in our key markets for their citizens to vaccinate before travelling abroad.”
Taking those factors into consideration, the CTO said its initial forecast is for a 20 per cent rise in arrivals in 2021, with a similar increase in visitor expenditure, when compared to 2020.
Source-CMC
Biden, Fauci appear at odds over calling on Trump to urge supporters get vaccinated
President Joe Biden appeared to be at odds with his top scientist in the pandemic fight, Dr. Anthony Fauci, about whether former president Donald Trump should urge his supporters to get vaccinated, given a poll that shows they are the Americans most likely not to get the shots.
"Should President Trump help promote the vaccine amongst skeptics, sir? Especially those Republicans who say that they’re not willing," a reporter at the White House asked at the end of an event Monday.
President Biden responded, "The thing that has more impact than anything Trump would say to the MAGA folks, is what the local doctors, what the local preachers, what the local people in the community say" and called upon local doctors and ministers to push vaccinations.
A day earlier, Fauci said he wishes Trump would use his influence over supporters to encourage them to get the vaccine, saying it would "be a game changer" during an appearance on Fox News Sunday.
While 30 percent of Americans said they would not get the vaccine if it became available to them, the percentage was far greater among white men, and those who voted for Trump are the most likely not to get the vaccine, according to a recent NPR/PBS NewsHour/Marist poll.
Forty-nine percent of white men said they would not get vaccinated if it was available to them, and 47percent of those who supported Trump in 2020 reported they would get the vaccine.
Trump and former first lady Melania Trump both received their vaccines before his term ended, but he made no public statement at the time, reports surfacing only after he left office. A Trump spokesperson did not respond to an ABC News request for comment Monday.
Source-ABC
First-time nominees H.E.R. and Leslie Odom Jr. react to their Oscar nods
Grammy-winning singers H.E.R. and Leslie Odom Jr. are among the artists who received a Oscar nomination Monday morning.
H.E.R. was nominated for Best Original Song for her "Fight for You" anthem from Judas and the Black Messiah, less than 12 hours after winning two Grammys Sunday night.
"Woke up to an Oscar nomination. Wow! God is so good!," H.E.R. wrote on Instagram, tagging the film's official Instagram account, @judasandtheblackmessiahfilm.
"Fight for You" was co-written by H.E.R. along with Grammy-nominated songwriters Dernst Emile II and Tiara Thomas.
Leslie Odom Jr. received an Oscar nomination for co-writing "Speak Now" with songwriter Sam Ashworth. The song was written for Regina King’s directorial debut film, One Night in Miami, in which Odom portrayed legendary soul singer Sam Cooke. Odom is also nominated for Best Actor in a Supporting Role in the film, which was also nominated for Best Adapted Screenplay.
"They can wake me up like this anytime," said Odom during an appearance on Good Morning America Monday. "I left the Broadway stage four or five years ago and I started this journey in film...to learn how to be on camera."
"I wanted to learn if I could be useful in this medium," Odom went on. "And thanks to Regina King and Kemp Powers and this film, I really do feel like I'm on my way. It feels like a good beginning."
Back to the films, The Father, Judas and the Black Messiah, Mank, Minari, Nomadland, Promising Young Woman, Sound of Metal, and The Trial of the Chicago 7 are the Academy Award nominees for Best Picture, announced this week.
Mank leads all films, with ten total nominations.
The 93rd annual Academy Awards will be presented Sunday, April 25 and telecast live on ABC.
Source-ABC
TCI PUBLIC FORECAST
WEATHER: PARTLY CLOUDY, WARM AND BREEZY WITH THE CHANCE OF A FEW LIGHT
PASSING SHOWERS.
WINDS: EAST TO SOUTHEAST AT 15 KNOTS… GUSTY AT TIMES IN THE NORTHWEST BAHAMAS… 15 TO 20 KNOTS IN THE TURKS & CAICOS CENTRAL AND SOUTHEAST BAHAMAS.
SEAS: 3 TO 5 FEET NEARSHORE, BUT UP TO 7 FEET ALONG ATLANTIC EXPOSED SHORELINES IN NORTHEASTERLY SWELLS.
TODAY’S HIGH TEMPERATURE: 81°F / 27°C
TONIGHT’S LOW TEMPERATURE: 70°F / 21°C
SUNRISE: 7:19 AM
SUNSET: 7:17 PM
MOONRISE: 8:46 AM
MOONSET: 9:24 PM
HIGH TIDE: 10:00 AM
LOW TIDE: 4:14 PM
HIGH TIDE: 10:21 PM
LOW TIDE: 4:37 AM TUE.
EXTENDED FORECAST (FOR THE NEXT TWO DAYS): HIGH PRESSURE RIDGING MAINTAINS STABLE WEATHER CONDITIONS ACROSS THE BAHAMAS.
Bitcoin surges past $60,000 for first time
Cryptocurrency Bitcoin has risen for the first time above $60,000 (£43,100), continuing its record-breaking run.
Bitcoin - which has more than tripled in value since the end of last year - has been powered on by well-known companies adopting it as a method of payment.
But some analysts said this latest surge came in part due to the huge US stimulus package approved this week.
Bitcoin's total market value last month exceeded $1tn.
However, Bitcoin has a track record of wild price swings and has fallen sharply a number of times since it was created in 2009.
The recent spikes have been fuelled by big companies.
In February, Elon Musk revealed that his electric carmaker Tesla had bought $1.5bn worth of Bitcoin and would be accepting it as payment for its cars in future.
Mastercard also plans to accept certain cryptocurrencies as a form of payment while BlackRock, the world's largest asset manager, is exploring ways it can use the digital currency.
The Covid-19 pandemic has also played its part in Bitcoin's price rise, as more people go online for shopping, moving further away from physical coins and notes.
Critics argue Bitcoin is less of a currency and more of a speculative trading tool that is open to market manipulation.
There is also concern over its environmental impact, with huge amounts of energy needed to conduct transactions.
Source-BBC
The Last Remaining Plants Making GM Cars Forced To Shut Down
As demand for consumer electronics has skyrocketed during the pandemic, the end result isn’t all sunshine and rainbows on both sides. This surge of unimaginable proportions has pushed the supply chain dangerously close to the breaking point. At a more local level, this has led to production shutdowns at many North American GM plants.
Following the pattern of widespread shutdowns, General Motors recently announced that it will idle production at a plant in Lansing, Michigan, – a result of the ongoing semiconductor shortage. The factory employs 1,400 workers tasked with producing the Chevrolet Camaro, Cadillac CT4, and Cadillac CT5.
We continue to work closely with our supply base to find solutions for our suppliers’ semiconductor requirements and to mitigate the impact on GM,” said spokesman Daniel Flores.
Unfortunately, the issue leaves a number of other North American factories afflicted – including three other locations that have been forced to put production on the backburner. Outside of the United States, GM facilities in Canada, Brazil, and Mexico have been experiencing similar difficulties. It’s unclear when stateside operations will resume, but we do know that the San Luis Potosi Assembly plant – down since February 8th – is set to get the ball rolling on April 5th.
Along with the toll that this will take on the economic security and employment of existing workers, GM themselves are also facing substantial difficulties. It’s estimated that the shortage and subsequent shutdowns could lead to the loss of around 216,000 vehicles. To offer some perspective, that’s roughly $2 billion in earnings that are gone.
We’d be remiss not to mention that Toyota and Hyundai successfully forecasted the shortage, and stockpiled necessary components in anticipation of this exact eventuality. Regardless, it remains an uphill battle, as computer chips are expected to remain in short supply until the second half of this year.
Source-Auto News