Latest news with #BGRGroup
Bloomberg
05-04-2025
- Business
- Bloomberg
Tariff Angst Trigger Stock Selloff
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On the show today, Sen. Mark Warner (D) Virginia, Rep. Mike Lawler (R) New York, White House Council of Economic Advisors former member Heather Boushey, BGR Group International Practice Co-Head and Republican Strategist Lester Munson, Iona University Political Science Professor and CSPC Senior Democracy Fellow Jeanne Sheehan Zaino. (Source: Bloomberg)
Axios
03-03-2025
- Business
- Axios
Major crypto VC outlines policy principles for the Trump era
Paradigm, the giant crypto-focused venture fund, only plans to get behind policy that keeps blockchains an open and dynamic technology, according to previews of new blog posts shared early with Axios exclusively. Why it matters: Paradigm is a multi-billion dollar fund, in terms of assets under management, with a strong policy team that can access leaders on both sides of the political aisle. What they're saying: "We believe that the heart of crypto is its openness and neutrality – its ability to provide universal access and resist censorship," its policy team wrote in a blog post shared early with Axios exclusively. "Premature or overly restrictive regulations risk stifling the creative potential of this space, cutting off possibilities before they even emerge. We cannot hobble this revolutionary technology as it takes its first steps." Zoom in: Overall, the principles detailed in what the firm is calling its policy anchors are focused on fulfilling the potential that Paradigm believes the technology possesses. The implications of those principles mean, for example, that policies and regulations: Are not written assuming that the use cases today are the only use cases that it will ever be used for, Focuses crime prevention on the access and application layers of the technology, rather than diminishing the neutrality of the core systems (usually, the blockchains themselves, such as Bitcoin or Cardano), avoids entrenching the status quo, Does not privilege certain technologies over others, and Continues to embrace open systems that anyone can participate in, without seeking permission from a central body. The policy principles also encourage fostering key ideals of the blockchain community, such as encouraging open source development (no matter how that technology might be used, a nod to, for example, the prosecutions of the developers of Tornado Cash) and supporting privacy. The policy anchors also note that notions of liability may need to be reconsidered in light of blockchains' unique decentralized structure. The firm also announced six new members of its policy council. These members include high-level veterans of both Republican and Democratic operations, including former advisors to the president. For example, it announced both Johnny DeStefano, who formerly oversaw president Trump's office of intergovernmental affairs. It also announced Jen Brown, BGR Group vice-president and former Banking Counselor to Sen. Chuck Schmer (D-NY). The policy council already includes a former GOP senator, Democratic operatives and members of past White House administrations. Flashback: From the start, Paradigm has been able to access corners of the traditional world. In 2018, it was able to secure an investment in one of its first funds from Yale University's endowment. It has invested in some of the most successful companies, such as Uniswap Labs, Osmosis, Zora and Fireblocks. The bottom line: "We only support crypto legislation in the event that doing so is widely viewed, internally and externally, as necessary to maintain or accelerate open crypto's progress," the blog explains.
Yahoo
07-02-2025
- Politics
- Yahoo
Why Trump is on the warpath in Somalia
Finding and fighting the militants who have become the beating heart of the Islamic State (IS) group in Africa can be tough work as they hide deep in the mountains of north-eastern Somalia. But in typical Donald Trump style, after the new US president ordered an airstrike on the area last weekend, he posted on social media: "WE WILL FIND YOU, AND WE WILL KILL YOU!" Trump said the hit, less than two weeks into his term, had targeted a senior IS attack planner and other militants in Somalia's semi-autonomous region of Puntland and had "destroyed the caves they live in, and killed many terrorists without, in any way, harming civilians". He boasted that he had succeeded where former US President Joe Biden had failed. "Biden and his cronies wouldn't act quickly enough to get the job done. I did!" The fact that Somalia was the target of America's first major military operation under the new administration surprised many in the country who feared the US was planning to abandon them. In his first term, Trump withdrew about 700 American troops, a decision reversed by his successor. The $600,000 (£492,000) a year deal the Somalia government recently signed with top Washington lobbying firm, the BGR Group, is an indication of how worried it is. Under Biden, US troops in Somalia were carrying out special operations, training an elite Somali force and conducting regular airstrikes. A day before the airstrike, the Washington Post published an interview with Somali President Hassan Sheikh Mohamud in which he pleaded for the US "not to pull out the American advisers and consultants who are supporting the training of our special forces". A post on X from his office after the strike also had a touch of desperation about it, acknowledging "the unwavering support of the United States in the fight against international terrorism" and welcoming "the continued commitment under the decisive leadership of President Donald Trump". But airstrikes are different from troops on the ground and Trump did not stop aerial bombardments in his first term. In fact, he increased them to nearly 400. "The strike does not mean that the US government is going to step up its military engagement in Somalia," says Matt Bryden, the strategic adviser of Nairobi-based Sahan Research. "Several American officials expected to assume leadership positions on African affairs no longer perceive Somalia's federal government to be a credible partner and are deeply critical of the high levels of security assistance provided in recent years to very little appreciable effect." Puntland's counter-terrorism approach is different from that of the national Somali government, with which it cut ties in March last year. It is more self-reliant and not as heavily dependent on support from African Union troops - of which around 12,000 are on the ground - and global powers including the US and Turkey. As Mohamed Mubarak, head of Puntland's security co-ordination office, points out it is troops from the north-east that have been battling IS for years with little help or thanks from others. "It is not fair to put the airstrike front and centre while we have been fighting and dying on the ground," Mr Mubarak says. "Regardless of what the rest of the world is doing, we are fighting IS, which is an international problem," he says. "We have not seen much support except from Kenya, Ethiopia and the UAE. We don't know if the Americans will conduct more than one airstrike." Puntland says its forces have captured 48 caves and IS outposts - and destroyed dozens of drones and explosive devices - since launching its full-scale "hilaac" or "lightning" offensive last year. Although IS has been active in Somalia for about a decade, it has posed less of a threat than the Islamist group al-Shabab, which controls large parts of the country and has been described as al-Qaeda's most successful affiliate. However, in recent times, IS has become more significant - locally, regionally and internationally. The authorities in Puntland and unnamed US officials say IS-Somalia's leader, the orange-bearded, bespectacled Abdulqadir Mumin, is now the global head of IS. Initial reports suggested he had been killed in a US airstrike last May but have never been confirmed. Whether or not Mumin is the head of IS or is alive or dead, IS-Somalia has become increasingly worrying for foreign states. As Trump said: "These killers, who we found hiding in caves, threatened the United States and our allies." According to Tricia Bacon, director of the policy anti-terrorism hub at American University in Washington DC, "IS-Somalia has taken on more responsibilities within the Islamic State network, particularly in Africa but beyond the continent as well". With branches of IS operating across the continent, from Mozambique to Mali, from the Democratic Republic of Congo to Nigeria, IS-Somalia serves as a crucial nerve centre. Ms Bacon warns that IS-Somalia is looking beyond Africa too. "It is positioned to facilitate and contribute to IS attacks in the West, including the United States. It also seeks to inspire attacks in the West," she says. "International partners should provide more support to Puntland's ongoing efforts against the group." Mr Bryden says collusion with Iranian-backed Houthi rebels across the Red Sea in Yemen is also an issue. "Like al-Shabab, IS-Somalia has received arms and training from the Houthis in Yemen, which is a source of concern for the US government and its allies," he says. A growing number of foreign fighters are joining the group, enhancing its strength in terms of numbers and expertise. A major source of IS-Somalia recruits are thought to be Ethiopian migrants, who gather in Puntland's port city of Bosaso in the hope of a sea crossing to a better life abroad. IS offers them better pay than they would earn in the Gulf states and experts say that some of the group's senior commanders are Ethiopian. "We assess that IS-Somalia is 80% or more foreign fighters, mostly from North Africa, Ethiopia, Tanzania and the Middle East, in that order," says Mr Mubarak. He estimates the group is about 1,000-strong; UN monitors put it at around 600 to 700. Last October, the head of the US Africa Command, Michael Langley, said he thought IS had grown in northern Somalia by about "two-fold" in a year. The group staged one of its most sophisticated ever attacks in December, hitting a military base in Puntland's Bari region. The group released a statement saying not a single Somali was involved. The 12 attackers came from seven countries - Tanzania, Algeria, Morocco, Libya, Tunisia, Yemen and Ethiopia. The movement has also become more effective at raising money. The US, UN and Somalia experts say a key part of IS's financial infrastructure - the al-Karrar office - is based in Puntland, disbursing funds and expertise to other branches of the group in Africa and beyond. The US Treasury's Office of Foreign Assets Control (OFAC) said IS-Somalia had raised nearly $2m in the first half of 2022 by taxing local businesses, imports, nomads and farmers. If Puntland's forces are to succeed in driving out the militants, air support will prove invaluable. Shortly after the US strike, Puntland police said the head of IS-Somalia's assassination squad, Abdirahman Shirwa Aw-Said, had surrendered. But experts say such strikes will need to be consistent to hunt down existing IS cells in Somalia and stop others mushrooming. It is unclear whether the US and its unpredictable leader have the appetite to keep bombing Somalia's north-eastern mountains. Mary Harper has written two books about Somalia, including Everything You Have Told Me Is True, a look at life under al-Shabab. The would-be African nation in love with Donald Trump Somalia's men in sarongs taking on al-Shabab militants Somali piracy 2.0 - the BBC meets the new robbers of the high seas A quick guide to Somalia Go to for more news from the African continent. Follow us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica Africa Daily Focus on Africa
BBC News
07-02-2025
- Politics
- BBC News
Why Donald Trump is on the warpath against Islamic State in Somalia
Finding and fighting the militants who have become the beating heart of the Islamic State (IS) group in Africa can be tough work as they hide deep in the mountains of north-eastern in typical Donald Trump style, after the new US president ordered an airstrike on the area last weekend, he posted on social media: "WE WILL FIND YOU, AND WE WILL KILL YOU!"Trump said the hit, less than two weeks into his term, had targeted a senior IS attack planner and other militants in Somalia's semi-autonomous region of Puntland and had "destroyed the caves they live in, and killed many terrorists without, in any way, harming civilians".He boasted that he had succeeded where former US President Joe Biden had failed."Biden and his cronies wouldn't act quickly enough to get the job done. I did!"The fact that Somalia was the target of America's first major military operation under the new administration surprised many in the country who feared the US was planning to abandon his first term, Trump withdrew about 700 American troops, a decision reversed by his $600,000 (£492,000) a year deal the Somalia government recently signed with top Washington lobbying firm, the BGR Group, is an indication of how worried it Biden, US troops in Somalia were carrying out special operations, training an elite Somali force and conducting regular airstrikes. A day before the airstrike, the Washington Post published an interview with Somali President Hassan Sheikh Mohamud in which he pleaded for the US "not to pull out the American advisers and consultants who are supporting the training of our special forces".A post on X from his office after the strike also had a touch of desperation about it, acknowledging "the unwavering support of the United States in the fight against international terrorism" and welcoming "the continued commitment under the decisive leadership of President Donald Trump".But airstrikes are different from troops on the ground and Trump did not stop aerial bombardments in his first term. In fact, he increased them to nearly 400."The strike does not mean that the US government is going to step up its military engagement in Somalia," says Matt Bryden, the strategic adviser of Nairobi-based Sahan Research."Several American officials expected to assume leadership positions on African affairs no longer perceive Somalia's federal government to be a credible partner and are deeply critical of the high levels of security assistance provided in recent years to very little appreciable effect."Puntland's counter-terrorism approach is different from that of the national Somali government, with which it cut ties in March last is more self-reliant and not as heavily dependent on support from African Union troops - of which around 12,000 are on the ground - and global powers including the US and Mohamed Mubarak, head of Puntland's security co-ordination office, points out it is troops from the north-east that have been battling IS for years with little help or thanks from others."It is not fair to put the airstrike front and centre while we have been fighting and dying on the ground," Mr Mubarak says. "Regardless of what the rest of the world is doing, we are fighting IS, which is an international problem," he says."We have not seen much support except from Kenya, Ethiopia and the UAE. We don't know if the Americans will conduct more than one airstrike."Puntland says its forces have captured 48 caves and IS outposts - and destroyed dozens of drones and explosive devices - since launching its full-scale "hilaac" or "lightning" offensive last IS has been active in Somalia for about a decade, it has posed less of a threat than the Islamist group al-Shabab, which controls large parts of the country and has been described as al-Qaeda's most successful in recent times, IS has become more significant - locally, regionally and authorities in Puntland and unnamed US officials say IS-Somalia's leader, the orange-bearded, bespectacled Abdulqadir Mumin, is now the global head of reports suggested he had been killed in a US airstrike last May but have never been or not Mumin is the head of IS or is alive or dead, IS-Somalia has become increasingly worrying for foreign states. As Trump said: "These killers, who we found hiding in caves, threatened the United States and our allies."According to Tricia Bacon, director of the policy anti-terrorism hub at American University in Washington DC, "IS-Somalia has taken on more responsibilities within the Islamic State network, particularly in Africa but beyond the continent as well".With branches of IS operating across the continent, from Mozambique to Mali, from the Democratic Republic of Congo to Nigeria, IS-Somalia serves as a crucial nerve Bacon warns that IS-Somalia is looking beyond Africa too."It is positioned to facilitate and contribute to IS attacks in the West, including the United States. It also seeks to inspire attacks in the West," she says."International partners should provide more support to Puntland's ongoing efforts against the group."Mr Bryden says collusion with Iranian-backed Houthi rebels across the Red Sea in Yemen is also an issue."Like al-Shabab, IS-Somalia has received arms and training from the Houthis in Yemen, which is a source of concern for the US government and its allies," he says. A growing number of foreign fighters are joining the group, enhancing its strength in terms of numbers and expertise.A major source of IS-Somalia recruits are thought to be Ethiopian migrants, who gather in Puntland's port city of Bosaso in the hope of a sea crossing to a better life offers them better pay than they would earn in the Gulf states and experts say that some of the group's senior commanders are Ethiopian."We assess that IS-Somalia is 80% or more foreign fighters, mostly from North Africa, Ethiopia, Tanzania and the Middle East, in that order," says Mr estimates the group is about 1,000-strong; UN monitors put it at around 600 to October, the head of the US Africa Command, Michael Langley, said he thought IS had grown in northern Somalia by about "two-fold" in a group staged one of its most sophisticated ever attacks in December, hitting a military base in Puntland's Bari group released a statement saying not a single Somali was involved. The 12 attackers came from seven countries - Tanzania, Algeria, Morocco, Libya, Tunisia, Yemen and movement has also become more effective at raising US, UN and Somalia experts say a key part of IS's financial infrastructure - the al-Karrar office - is based in Puntland, disbursing funds and expertise to other branches of the group in Africa and US Treasury's Office of Foreign Assets Control (OFAC) said IS-Somalia had raised nearly $2m in the first half of 2022 by taxing local businesses, imports, nomads and Puntland's forces are to succeed in driving out the militants, air support will prove after the US strike, Puntland police said the head of IS-Somalia's assassination squad, Abdirahman Shirwa Aw-Said, had experts say such strikes will need to be consistent to hunt down existing IS cells in Somalia and stop others is unclear whether the US and its unpredictable leader have the appetite to keep bombing Somalia's north-eastern Harper has written two books about Somalia, including Everything You Have Told Me Is True, a look at life under al-Shabab. You may also be interested in: The would-be African nation in love with Donald TrumpSomalia's men in sarongs taking on al-Shabab militantsSomali piracy 2.0 - the BBC meets the new robbers of the high seasA quick guide to Somalia Go to for more news from the African us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica
Boston Globe
27-01-2025
- Business
- Boston Globe
Denmark and other nations under pressure seek lobbyists with Trump ties
Panama, which is pushing back against Trump's threat to reclaim the Panama Canal, signed a contract three days before his inauguration that could pay nearly $2.5 million over the next year to a team of lobbyists including prominent Trump ally David Urban of BGR Group, according to Justice Department lobbying filings. Advertisement BGR Group, a powerhouse firm founded by establishment Republicans in the 1990s, also signed a $600,000 one-year contract in late November with the Embassy of Somalia, which is facing the prospect that Trump's administration might scale back military cooperation. And South Korea, which could be hurt by tariffs, expanded its lobbying corps after the election to bring aboard former Trump campaign adviser Bryan Lanza and his team at Mercury Public Affairs, according to lobbying filings and a person familiar with the engagement. The surge in interest from foreign governments in lobbyists with connections to the new administration underscores the uncertainty with which even longtime US allies regard Trump. The administration's brinkmanship with Colombia over tariffs and the deportation of immigrants over the weekend showed how quickly any tensions could escalate. The desire for assistance navigating Trump's chaotic approach to foreign policy comes as his allies have increasingly become fixtures in Washington's influence industry, a shift from when he first took office after a campaign in which he pledged to 'drain the swamp.' In 2017, few established lobbying firms had ties to his new administration, allowing a wave of newcomers to elbow their way onto K Street, the downtown boulevard that once housed the capital's top lobbying firms. And yet the shopping spree for lobbyists in the early days of Trump's second administration has created a dilemma for influence professionals who want to stay on his good side and maintain their access while also getting results for their clients. Representing a country that Trump has targeted could risk blowback from a president who has been sensitive to perceptions of disloyalty or the specter of associates profiting from their affiliation with him. Advertisement The Danish Embassy was turned away by the firm of Brian Ballard, a top fund-raiser for Trump, according to two people familiar with the country's outreach who spoke on the condition of anonymity to reveal private discussions. Ballard's firm, which was based in Florida, launched a Washington operation at the beginning of Trump's first term, and it has found itself in high demand since election night. The firm declined to comment. The Danes also have had talks with BGR Group, according to four people with knowledge of the discussions. One of them said BGR Group appeared disinclined to accept the engagement. A spokesperson for BGR Group did not respond to requests for comment. In a statement, the Danish Embassy said it 'has not hired a lobbying firm on this issue.' It declined to address whether it was seeking one. Jesper Moller Sorensen, Denmark's ambassador to the United States, also declined in an interview to discuss the K Street outreach, but he said that 'Denmark is looking forward to having a very constructive relationship with the Trump administration.' The effort by Denmark to hire a well-connected Washington hand comes amid intensifying concern in Denmark and Greenland about Trump's stated intention to take control of the island. He has hinted at the possibility of using military force to facilitate the purchase of Greenland, the strategically important Arctic island that is a self-ruling territory of Denmark. Advertisement Danish and Greenlandic politicians have categorically rejected the prospect of a sale, sometimes in confrontational terms. The standoff is unlike anything the Danes have experienced in their recent relationship with the United States, one of Denmark's biggest trade partners and a major ally. It is not clear the last time the Danes retained a traditional lobbyist in Washington. The Foreign Ministry paid US consultants during the Biden administration and Trump's first term for public relations assistance related to American tourism, according to records filed with the Justice Department under the Foreign Agents Registration Act. Before that, the embassy had last paid for such assistance in 2016, when it retained the firm Fleishman-Hillard for two months to help promote a trade mission. The types of government-to-government interactions upon which the Danes and Greenlanders have relied in Washington do not seem to be having the desired effect in the current situation. Five days before Trump took office, he had a contentious 45-minute telephone call with Danish Prime Minister Mette Frederiksen. She made various suggestions for more cooperation on military and economic issues but insisted that Greenland, which already hosts an important US base, was not for sale. On Tuesday, Greenlandic Prime Minister Mute Egede told reporters that his government was trying to set up a meeting with Trump to discuss their opposition to the sale. 'You can't get around the fact that if they want to talk about Greenland, they have to talk to Greenland,' Egede said. This article originally appeared in
