Community-led ‘May Day' march held in Charlotte; activists speak against 'war on working class'
CHARLOTTE, N.C. (QUEEN CITY NEWS) — Another round of protests this weekend were held across the country — including here in east Charlotte.
The 'May Day' march is in celebration of International Workers Day.
Saturday's march was led by the Charlotte-Metrolina Labor Council, Action NC and Carolina Migrant Network. Todays march is in response to acts by the Trump Adminstration and Elon Musk's DOGE.
Activists say they're standing up against 'illegal and unwarranted' deportations and the war on working people.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Yahoo
23 minutes ago
- Yahoo
Morning Bid: Trump-Musk bust-up smolders
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today Donald Trump's hotly anticipated meetings with the leaders of the world's two other biggest economies ended up being sideshows compared to his online bust-up with billionaire backer Elon Musk. It's Friday, so today I'll provide a quick overview of what's happening in global markets and then offer you some weekend reading suggestions away from the headlines. Today's Market Minute * White House aides scheduled a call between Donald Trump and Elon Musk for Friday, Politico reported, after a huge public spat that saw threats fly over government contracts and ended with the world's richest man suggesting the U.S. president should be impeached. * U.S. President Donald Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday that left key issues to further talks. * China has signalled for more than 15 years that it was looking to weaponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise. The scramble in recent weeks to secure export licences for rare earths shows China has devised a better, more precisely targeted weapon for the trade war. * By any measure, the recent resilience of U.S. stocks is remarkable, with Wall Street powering through numerous headwinds to erase all its tariff-fueled losses and move into positive territory for the year. Reuters columnist Jamie McGeever explains why the rally may still have some juice left in it. * There are some tentative early signs that weak thermal coal prices are starting to boost import demand among Asia's heavyweight buyers China and India. Read Reuters Columnist Clyde Russell to find out more. Trump-Musk bust-up smolders For markets trying to navigate everything from creeping signs of labor market weakness to the latest European Central Bank easing, the spat between the U.S. president and the world's richest man proved more than a distraction. It remains to be seen if it overshadows the May payrolls report later on Friday. The extraordinary sparring match drew in other major political and business figures and included potentially seismic accusations and threats. In turn, the share price of Musk's Tesla plummeted almost 20% at one point, dragging Wall Street stock indexes and crypto tokens deep into the red. The public feud appeared to cool off somewhat overnight and allowed stock futures to regain some lost ground. But the fact that the spat overshadowed the other major events of the day was another marker of this administration's unpredictability. The substance of the row was over Trump's "one big beautiful" fiscal bill that Musk thinks is a "disgusting abomination" due to the amount of spending. The bill, which has yet to be passed by the Senate, is expected to add $2.4 trillion to the U.S. debt over the next decade, based on CBO estimates. The vast bulk of this will likely be incurred over the next four years. In the background, the call between Trump and China's President Xi Jinping delivered no breakthroughs in the trade row apart from warmer words and an agreement to resume talks. The Oval Office meeting with Germany's Chancellor Friedrich Merz was relatively positive about trade and diplomatic issues. Earlier in the day, the ECB cut rates again as expected and suggested that there may be a pause at its next meeting and that it could be near the end of its easing cycle now that 'real' inflation-adjusted rates are back near zero. The euro hit a six-week high on Thursday regardless, although it gave back those daily gains today. Rising weekly U.S. jobless claims, meantime, cast a shadow over today's release of the May employment report. Consensus forecasts are for a slowdown in payroll growth to 130,000. Treasury yields, which ebbed and flowed all day on the conflicting signals from the trade meetings and stock gyrations, are back hovering at the week's lows ahead of the jobs report. Even though Federal Reserve officials continue to signal caution about the uncertain outlook ahead, markets are now priced for a resumption of Fed cuts by September. Into the already confusing mix, the Treasury released its annual report on potential currency manipulation overseas, adding Switzerland and Ireland to its watchlist, which already includes China, Japan, Germany, South Korea, Taiwan, Singapore and Vietnam. The list likely carries more heft than usual amid multiple tense trade negotiations. Markets assume the U.S. may pressure other countries to let their currencies appreciate versus the dollar as part of deals to avert severe tariffs being re-imposed next month. The Swiss National Bank responded on Friday by saying it would intervene in currency markets where necessary to keep inflation on track. Intervention to cap a super-strong franc has been a critical monetary tool used over the past decade and may need to be tapped again now that Swiss inflation has returned negative just as the SNB's key interest rate is set to return to zero in June. Elsewhere, China's yuan slipped against the dollar while falling to a near two-year low versus its major trading partners on Friday as the Trump-Xi call fell short of many expectations. Stock markets overseas were mixed on Friday as Wall Street remained on edge and the U.S. jobs report loomed. In the euro zone, first-quarter GDP was revised higher to show twice the growth originally estimated: 0.6% quarter-on-quarter, leading to an annual rate of 1.5%. India's central bank cut key rates by a larger-than-expected 50 basis points to 5.5%, its steepest cut in five years. It also slashed its cash reserve ratio - funds that banks are required to hold - by 100 bps to 3% in a surprise move aimed at boosting lending and speeding up policy transmission. In single stocks, Tesla shares recovered around 5% in Frankfurt on Friday, having closed down 14% in New York yesterday amid the Trump-Musk spat. It lost about $150 billion in market value yesterday, which caused the erstwhile member of the 'Magnificent Seven' megacaps to drop to ninth in the list of most-valuable firms behind Broadcom and Berkshire Hathaway. Broadcom's shares, however, fell 4% in extended trading overnight as its forecast-beating earnings seemed to underwhelm the Street. In Bank of America's weekly tally of fund flows, U.S. stocks saw outflows of $7.5 billion, the third week of exits, while European shares saw inflows of $2.6 billion, the eighth week of inflows. Weekend reading suggestions * 'BLUE BONDS': European countries should seize the moment to boost the size and liquidity of jointly-issued euro sovereign debt, and a solution could be to replace a proportion of the stock of national bonds with senior Eurobonds, or 'blue bonds'. So says a 'working document' from Peterson Institute senior fellow and former IMF chief economist Olivier Blanchard in a paper jointly written with Citadel's Angel Ubide. * NUCLEAR BLIND SPOTS: United Nations nuclear watchdogs appear to have lost track of some critical elements of Iran's nuclear activities since U.S. President Donald Trump ditched a 2015 deal that imposed strict restrictions and close supervision by the International Atomic Energy Agency. Reuters Francois Murphy and John Irish report on key blind spots that include not knowing how many centrifuges Iran possesses or where the machines and their parts are produced and stored. * OCEAN ECONOMY: Trade in the global 'ocean economy' hit as much as $2.2 trillion in 2023, about 7% of total world trade, but this trade is increasingly threatened by climate change and environmental problems, the United Nations trade and development arm UNCTAD showed in a report this week. The ocean economy grew faster than the world economy at large in the five years to 2020 and an estimated 100 million jobs depend on it. * 'TRUMP DOCTRINE': The emerging foreign policy under President Donald Trump resembles a 'look the other way' doctrine or a 'none of our business' doctrine, argues former George W. Bush State Department official Richard Haass on Project Syndicate. "The U.S. sought to change the world, annoying some and inspiring others. Those days are gone, in some ways for better, but mostly for worse. The US has changed. It is coming to resemble many of the countries and governments it once criticized." * MAGNETIC FEW: A small team in China's Ministry of Commerce decides the fate of the global auto industry, one rare earth magnet export permit at a time. China holds a near-monopoly on rare earth magnets, a key component in electric vehicle motors, and it added them to an export control list in April as part of its trade war with the United States. Reuters' Laurie Chen and Lewis Jackson show how it falls to the Bureau of Industrial Security and Import and Export Control, part of China's Ministry of Commerce, to review export permits for the rare earth magnets, vital for car motors, wind turbines and even U.S. F-35 fighter jets. * FINANCE AND AI: Artificial intelligence advances in the financial sector offer enhanced data analysis, risk management and capital allocation, but there are problems too, according to a paper on CEPR's VoxEU website. As AI systems become more widespread, they introduce challenges for regulators tasked with balancing the benefits of innovation with the need for financial stability, market integrity, consumer protection and fair competition. * DRONE ATTACK: Ukraine's 'Operation Spider's Web' last weekend used smuggled drones to attack bomber aircraft deep inside Russia, and the 'remarkable event' could affect the future of conflict, argues Council on Foreign Relations fellow Michael Horowitz. The attack "clearly shows that even targets deep in a country's territory could now be at risk". * IMF EUROPE: The case for closer European economic integration has become more compelling as external challenges multiply, according to Alfred Kammer, director of the International Monetary Fund's European Department. Stressing the need for the completion of the single market, Kammer said capital markets integration has been too slow and that cross-border flows have been frustrated by persistent fragmentation. "If history is a guide, Europe can turn adversity to advantage." * ALPINE TRUSTS: Liechtenstein is examining tightening control of scores of Russian-linked trusts abandoned by their managers under pressure from Washington. Reuters' John O'Donnell and Oliver Hirt cite sources in reporting that the country, one of the world's smallest and richest, is home to thousands of low-tax trusts, hundreds with links to Russians. Chart of the day Supply chain stress ticked up in May, data from the Federal Reserve Bank of New York said on Thursday. The bank noted that its Global Supply Chain Pressure Index for May rose to 0.19 from -0.28 in April, only the second time it stood in positive territory this year and the highest reading since the 0.20 seen in August of last year. Although the index remains subdued compared to the post-pandemic surge, growing concerns about the impact of the tariff war - particularly the impact of China's restrictions on rare earth and minerals exports on the global auto industry - will ensure policymakers keep a close eye on these pressures for any signs of re-emerging inflation. Today's events to watch * U.S. May employment report (8:30 AM EDT), April consumer credit (3:00 PM EDT); Canada May employment report (8:30 AM EDT) Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Mike Dolan; Editing by Anna Szymanski)
Axios
23 minutes ago
- Axios
Republicans worry DOGE cuts will sink them in Virginia governor's race
Republicans are increasingly worried that budget cuts by Elon Musk 's DOGE could cost them dearly in November's vote for Virginia governor — an early electoral test of President Trump 's policies. Why it matters: Virginia has one of the highest percentages of federal employees in the country — more than 5% of the state's workforce by some estimates — and Republicans' internal polls are starting to show the damage from tens of thousands of federal layoffs. Zoom in: The University of Virginia's Weldon Cooper Center has projected that 32,000 jobs could be lost in the state this year, many of them federal positions. "Northern Virginia is filled with people who suffered the consequences of the DOGE cuts, and it's hard to see them being sympathetic to a Republican candidate who supports the DOGE cuts," said Whit Ayers, a veteran Republican pollster. "I suspect this will be an albatross around the neck of every Republican candidate this year," said Virginia Republican Bill Bolling, a former lieutenant governor. By the numbers: A private poll done for the campaign of a statewide Republican candidate suggested that just 39% of voters had a favorable view of DOGE. Nearly half of voters surveyed said they knew of someone impacted by the DOGE cuts, according to results shared with Axios. The poll showed Republican Lt. Gov. Winsome Earle-Sears trailing former U.S. Rep. Abigail Spanberger (D) by single digits, outside the margin of error. Between the lines: DOGE could especially hurt Earle-Sears' campaign for governor in Northern Virginia and Norfolk, sections of the state where huge segments of the population are federal workers or have jobs tied to the government. Those areas played a role in Republican Gov. Glenn Youngkin's win in 2021, when he cut into Democratic margins and improved on the GOP's performance in 2017. (Virginia governors can't succeed themselves, so Youngkin isn't allowed to run again.) The D.C. suburbs of Northern Virginia are home to upper- and middle-income voters, many of whom have ties to the government and are particularly likely to vote. Even non-federal workers in those areas could be impacted by DOGE, given the role federal funding plays in driving the local economy. Flashback: Republicans already are comparing DOGE's potential impact on Virginia's 2025 election to that of the GOP-led government shutdown of 2013, which resulted in hundreds of thousands of government workers being placed on unpaid leave. Democrats swept the state's highest offices that year — an outcome many GOP strategists blamed on the shutdown. "Washington, D.C., politics have long shaped the outcome of Virginia off-year elections," Virginia-based GOP strategist Jimmy Keady said in a text to Axios. "With over 230,000 Virginians working in or around the federal government, especially in Northern Virginia and Norfolk, any proposal that threatens those jobs — like DOGE — turns into a high-stakes issue," he added. The other side: Democrats are making DOGE a centerpiece of their election playbook. Virginia's Democratic Party has been running ads highlighting Earle-Sears' comments accusing the media of overhyping the impact of DOGE cuts. Other Democratic commercials are linking Republican state legislative candidates to Musk. Behind the scenes: Youngkin has taken steps to try to soften the blow to the state's federal workers, launching a " Virginia Has Jobs" initiative aimed at helping laid-off workers find new positions. Reality check: Republicans say Earle-Sears has an uphill climb, even without DOGE. In every election since 1977 besides one, the state has elected a governor from the opposition party to the sitting president. Top GOP officials — including some close to Trump — have criticized Earle-Sears and her campaign. Chris LaCivita, Trump's 2024 co-campaign manager and a longtime player in Virginia politics, has called her team " amateurs." What they're saying: Peyton Vogel, a spokesperson for Earle-Sears, rejected the notion that federal cutbacks could hurt the GOP candidate.
San Francisco Chronicle
26 minutes ago
- San Francisco Chronicle
Now that Musk has turned his chainsaw on Trump, what happens to all the government data he accessed?
For anyone who's seen the quintessential slasher classic 'The Texas Chainsaw Massacre,' the destructive power of a man wielding a chainsaw is the indisputable stuff of nightmares. But the same could easily be said about this year's remake featuring Elon Musk, where the dancing chainsaw slasher reenacted, for Conservative Political Action Conference theatergoers, a scene eerily reminiscent of the original. I'm thinking, specifically, of that unforgettable final scene, where Leatherface fades to black swinging his gas-powered murder weapon wildly through the air as he helplessly watches his last potential victim make her last-minute daring escape, dangling from the back of a stranger's pickup truck. Social Security? Gutted. Veterans programs? Gutted. Alzheimer's, cancer and climate research? Gutted. School lunches, Head Start, the entire Department of Education? All gutted. Air safety, food safety, consumer protections? Gutted. Gutted. Gutted. Museums, libraries, hospitals, childcare? You get the drift. And what about all those thousands of federal workers whose jobs were cut? It'll take us years to recover from these self-inflicted wounds. Not to mention the generational damage wrought to our standing in the global community by what is possibly Musk's proudest personal achievement: the decimation of America's foreign assistance programs feeding starving children, combating human trafficking, fighting malaria and reducing the transmission of HIV. All summarized, of course, by the heartless tweet: 'We spent the weekend feeding USAID into the wood chipper.' While the long-term consequences of these actions may be difficult to gauge, conservative estimates are measured in the tens of thousands. But now, apparently, our modern-day Leatherface has turned his power tool on the guy who gave him the chainsaw in the first place. Even implying that his former boss was involved in the Jeffrey Epstein sex trafficking conspiracy, and has since conspired to bury the evidence that would expose Trump's connections to Epstein's decades-long criminal activities — sort of hard to put that toothpaste back into the tube, wouldn't you say? At first glance, this appears to have all the makings of an Ultimate Fighting Championship bout, fought in the middle of a monster truck rally. This calls to mind the 1990s Claymation TV show 'Celebrity Deathmatch,' where preposterously paired big-name personalities (Hillary vs. Monica? Prince Charles vs. Prince?) fought to the death. Promises to be one hell of a show! What America may be in danger of losing sight of in the ensuing spectacle is the real threat to our national security posed by the world's richest man, who, until quite recently, enjoyed unfettered access to everything the government knows about you. Never before has the data your federal government collects about every American been consolidated into a single database. It has always, religiously, been 'siloed' into disconnected data systems — some at the Treasury Department, some at the Education Department, some at the Veterans Affairs and the Social Security Administration, among other agencies — but always carefully stored and guarded by the separate entities collecting the data. The New York Times, for example, recently published a comprehensive story detailing 314 specific personal details your government potentially knows about you. I suggest giving that a read. A week ago, this casual observer would have assumed these two men, Trump and Musk, were acting with a single motive. Assembling the master data that could make possible Trump's ambitions for sweeping dictatorial powers, and for Musk's ambitions. The sheer volume of data, of course, far outstrips anything that social media titans like Mark Zuckerberg or Musk could legally monetize. And, in any event, certainly not the quid pro quo one might expect for a $288 million campaign contribution. Musk seemed, instead, to be carving himself a unique role in a near-future authoritarian oligarchy, as the undisputed Richelieu to Trump's Louis XIII. But, alas, that was not to be. What is to be, is the shocking revelation that a man who just days ago was given the ceremonial key to the White House — and in the weeks prior, the key to just about every federal government data base — has now cut all ties, and who we know talks regularly with Vladimir Putin, with whom he enjoys a reportedly friendly relationship, is now a free agent. Did Musk take the data with him? To me, the answer seems obvious. The way his pot-smoking 'college dropouts' sauntered into agency after rarified government agency, enjoying open access to virtually anything they wanted — and then they were called out by a whistleblower for uploading huge troves of data to an unsecured server. Within minutes, after Russian hackers had apparently been tipped off, they tried to download it using the correct passwords. We are told that in the end, the Russians were unable to access the data. Whether or not that denial is accurate and truthful, however, again, what should be obvious is that Musk's team successfully spirited your personal information from secure government databases to god knows where. That is the reality to which we wake today, and now every day. Let's hope that after those two Claymation figures have beaten the clay out of each other, someone comes up with a plan to clean up the mess they made. Before it's too late. Brett Wagner, now retired, served as professor of national security decision making for the U.S. Naval War College and adjunct fellow at the Center for Strategic and International Studies.
