Lavorgna on Moody's United States AA1 Credit Downgrade
Joseph Lavorgna, SMBC Nikko Securities Chief US Economist & Former Chief Economist of the National Economic Council, discusses Moody's downgrading the United States to a AA1 credit rating from a triple A. Lavorgna shares his thoughts on the tax bill as Moody's reasoning behind the downgrade and questions the timing of this announcement. He speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
LA protests: California questions Trump's military response
The Pentagon mobilized 700 Marines and doubled the National Guard troops in response to immigration enforcement protests Marines expected to reach Los Angeles by Tuesday morning California Governor Gavin Newsom sues the Trump administration over deployment of the National Guard and Marines Australia speaks to US over reporter shot with rubber bullet while covering anti-Ice protests This blog covers the latest developments in the United States on Tuesday, June 10, as President Donald Trump's administration deploys active-duty Marines to deal with the LA protests: Australia has raised concerns with the United States government after a reporter was seemingly targeted and shot with a rubber bullet while covering protests against immigration raids in Los Angeles, Prime Minister Anthony Albanese said. "We don't find it acceptable that it occurred," Albanese said. The incident during which Australia's Nine News US correspondent Lauren Tomasi was shot live on camera. Albanese said he also spoke to Tomasi. She wrote on Sunday that she was a "bit sore" but otherwise well, adding it was "important we keep on telling the stories that need to be told." President Donald Trump's administration has announced the deployment of 700 active-duty US Marines and an additional 2,000 National Guard troops to Los Angeles. The move has drawn sharp criticism from California Governor Gavin Newsom, who described the deployment as "deranged" and accused the President of using the military to serve his own political interests. "This isn't about public safety," Governor Newsom said. "It's about stroking a dangerous President's ego." The deployment of active-duty military personnel within US cities is highly unusual and has raised concerns among local officials. Los Angeles Police Chief Jim McDonnell said the arrival of Marines without prior coordination posed a significant logistical and operational challenge. He expressed confidence in the police department's ability to manage large-scale demonstrations independently. Los Angeles Mayor Karen Bass also condemned the move, calling it a "deliberate attempt to create disorder and chaos in our city." "I feel like we are part of an experiment that we did not ask to be a part of," she said. About 700 active-duty Marines are heading to Los Angeles on Tuesday - a move that state and city officials say will only make things worse. What started as peaceful demonstrations against Immigration and Customs Enforcement (ICE) operations on Friday has become more heated. The situation escalated after President Donald Trump ordered in the National Guard, despite California Governor Gavin Newsom's opposition. Protesters and law enforcement clashed, with cars set on fire in the streets. It's the first time in 60 years that a president has deployed active-duty troops to back up the National Guard at home. Stay with DW for real-time news, analysis, and insights from our correspondents on the ground as we continue to cover the LA protests.
Yahoo
22 minutes ago
- Yahoo
Founding Member Limoneira to Rejoin Sunkist Growers
VALENCIA, Calif., June 10, 2025 /PRNewswire/ -- Sunkist Growers, Inc., a citrus marketing cooperative founded in 1893, announced today that Limoneira Company, one of its original founding members, will rejoin the organization effective November 1, 2025. The move marks a meaningful reunion and a bold step forward for both companies. "This is more than a return—it's a powerful alignment of shared history, values, and vision," said Jim Phillips, President and CEO of Sunkist Growers. "Together, we're transforming our collective capabilities into greater value for our growers, packers, and customers." Under the new agreement, Limoneira will continue to operate as an independent business entity. However, all of Limoneira's fresh citrus sales and marketing responsibilities—primarily focused on lemons—will transition to Sunkist at the start of the new citrus season. "We have long respected Sunkist's leadership and legacy in the citrus industry," said Harold Edwards, President and CEO of Limoneira. "Now is the right time to rejoin. Both organizations have evolved, adapted, and strengthened—and we're excited to build on that momentum to create lasting value for our growers and customers." This reconnection is expected to drive expanded market access, optimize citrus supply, and strengthen the cooperative's ability to meet evolving customer and grower needs. Both companies are looking forward to strengthening Sunkist's market position and expanding our reach through this renewed momentum and are committed to ensuring a seamless transition and continued service excellence heading into the new season. About Limoneira: (Nasdaq: LMNR), a 132-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (lē moñ âra) is a dedicated sustainability company with 10,500 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona, Chile, and Argentina. The company is a leading producer of lemons, avocados, and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit About Sunkist: Sunkist Growers, Inc. is a citrus marketing cooperative, founded in 1893, which is owned and operated by more than 1,000 growers made up of family farmers growing citrus in California and Arizona. For more information, visit All Rights Reserved. Sunkist is a registered trademark of Sunkist Growers, Inc., USA © 2025 View original content to download multimedia: SOURCE Sunkist Growers, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
25 minutes ago
- Bloomberg
Mark Zuckerberg Personally Hiring to Create New 'Superintelligence' AI Team
Mark Zuckerberg, frustrated with Meta Platforms Inc. 's shortfalls in AI, is assembling a team of experts to achieve artificial general intelligence, recruiting from a brain trust of AI researchers and engineers who've met with him in recent weeks at his homes in Lake Tahoe and Palo Alto. Zuckerberg has prioritized recruiting for the secretive new team, referred to internally as a superintelligence group, according to people familiar with his plans. He has an audacious goal in mind, these people said. In his view, Meta can and should outstrip other tech companies in achieving what's known as artificial general intelligence or AGI, the notion that machines can perform as well as humans at many tasks. Once Meta reaches that milestone, it could weave the capability into its suite of products — not just social media and communications platforms, but also a range of AI tools, including the Meta chatbot and its AI-powered Ray-Ban glasses.
