Latest news with #DavidRussell
Daily Record
24-05-2025
- Politics
- Daily Record
Football fans to be given powers to stop clubs deserting local areas under new law plan
EXCLUSIVE: Labour by-election candidate David Russell says he will introduced a member's bill if he wins. Scottish Labour leader Anas Sarwar has called for football fans to have greater powers to stop clubs deserting their local areas. Labour are planning a new law to give fans a say over their owners deciding to 'up sticks' and changing a club's name. His call comes after David Russell, Labour's candidate in a crunch Holyrood by-election, wrote to football chiefs to help secure the future of Hamilton Accies. The Scottish Championship club have been based locally since 1874 but they are set to leave for Broadwood Stadium in Cumbernauld. The move has caused anger among fans and triggered calls for a fan empowerment agenda. Sarwar said the problem is national and needs Government intervention: 'Football belongs to the fans - that's why the football authorities should act to empower fans and their local communities. ' Scottish Labour is committed to making sure fans get a say so clubs can't leave their local community without the support of those who made them. 'Football clubs like Hamilton Accies are at the heart of their communities and must be supported to flourish with the communities they serve.' League 2 Clyde confirmed on Wednesday that they will continue their tenancy of New Douglas Park in Hamilton, having vacated Broadwood Stadium three years ago. Meadowbank Thistle was a Scottish football club based in Edinburgh that was renamed Livingston FC in 1995 and based in the town. In a letter to the SPFL Group Chief executive Neil Doncaster, Russell has requested an urgent meeting about the future of Hamilton in the town. If he wins the by-election in Hamilton, Larkhall and Stonehouse by-election, Russell will propose a member's bill to empower local fans. The legislation would ensure they would be involved in decisions that have a material impact on local areas. Russell said: 'The Accies are a vital part of our community - but the planned move threatens to rip the heart out of the area and means the club could wither and die. 'This cannot be allowed to happen - we need to keep the Accies in Hamilton and make sure this historic club has a secure future. That's why if I am elected I will do all I can to save the Accies. 'To do this I will urgently engage with the SPFL and, if needed, bring forward a members bill to ensure that fans have to be consulted before any club - including the Accies - decide to up sticks and leave their community. 'I will consult with clubs, fans and interest groups to ensure that my bill is as pragmatic and effective as possible.' SNP by-election candidate Katy Loudon said: "I was incredibly disappointed to hear of Hamilton Accies' plans to relocate to a stadium outside of Hamilton. "The club's importance to the town and the wider area cannot be understated. I have been clear in my view that every effort should be made to secure a sustainable, long-term future for the club at New Douglas Park."
West Australian
21-05-2025
- Business
- West Australian
Wall Street slips amid focus on Trump's tax bill
Wall Street's main indexes have slipped and government bond yields risen as investors closely watched a pivotal debate over US President Donald Trump's tax-cut bill that has fanned concerns about the country's growing debt. The gate-keeping House Rules Committee scheduled an unusual 1am ET hearing that is expected to run well into daylight hours, as Republicans try to overcome internal divisions about cuts to the Medicaid health program and tax breaks in high-cost coastal states. Non-partisan analysts say the proposed plan could add $US3 trillion to $US5 trillion ($A4.7 trillion to $A7.8 trillion) to the federal government's $US36.2 trillion in debt. "(We're seeing) the American exceptionalism narrative unwind, so you have a natural process of something weakening after years of concentration," said David Russell, global head of market strategy at TradeStation. "We're kind of pouring gasoline on the fire with tariffs and all of this budgetary uncertainty." In early trading on Tuesday, the Dow Jones Industrial Average fell 352.28 points, or 0.83 per cent, to 42,324.96, the S&P 500 lost 31.84 points, or 0.54 per cent, to 5,908.62 and the Nasdaq Composite lost 97.35 points, or 0.51 per cent, to 19,045.36. All 11 S&P sub-sectors traded lower, with information technology and consumer discretionary amongst the worst hit. US bonds have been under pressure since the start of the week, when Moody's downgraded the country's sovereign credit rating. On Wednesday, yields on the 30-year note were back up to 5.01 per cent and the benchmark 10-year yield climbed 5.2 basis points to 4.53 per cent. Highly valued technology stocks weakened as rising rates tend to discount the present value of future profits. Amazon, down 1.5 per cent, led losses among top megacap and growth stocks. UnitedHealth Group dropped 5.1 per cent as a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands in bonuses to help reduce hospital transfers for ailing residents. HSBC also downgraded the stock to "reduce" from "hold". On the earnings front, retailer Target fell 6.7 per cent after slashing its annual forecast due to a pullback in discretionary spending. Wolfspeed tumbled 66.5 per cent following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks. US stocks closed lower on Tuesday, with the S&P 500 snapping a six-day winning streak while the Dow logged its first decline in four sessions. Despite the losses, they have had a solid month so far. The S&P 500 has climbed more than 17 per cent higher from its April lows, when Trump's reciprocal tariffs roiled global markets. A pause in the tariffs, a temporary US-China trade truce and tame inflation data have pushed equities higher although the S&P 500 is still about 3.0 per cent off its record highs. Brokerage Morgan Stanley upgraded its stance on US equities to "overweight," saying the global economy was still expanding, albeit slowly, amid policy uncertainty. Declining issues outnumbered advancers by a 3.93-to-1 ratio on the NYSE and by a 2.98-to-1 ratio on the Nasdaq. The S&P 500 posted two new 52-week highs and no new lows while the Nasdaq Composite recorded 16 new highs and 17 new lows.
Perth Now
21-05-2025
- Business
- Perth Now
Wall Street slips amid focus on Trump's tax bill
Wall Street's main indexes have slipped and government bond yields risen as investors closely watched a pivotal debate over US President Donald Trump's tax-cut bill that has fanned concerns about the country's growing debt. The gate-keeping House Rules Committee scheduled an unusual 1am ET hearing that is expected to run well into daylight hours, as Republicans try to overcome internal divisions about cuts to the Medicaid health program and tax breaks in high-cost coastal states. Non-partisan analysts say the proposed plan could add $US3 trillion to $US5 trillion ($A4.7 trillion to $A7.8 trillion) to the federal government's $US36.2 trillion in debt. "(We're seeing) the American exceptionalism narrative unwind, so you have a natural process of something weakening after years of concentration," said David Russell, global head of market strategy at TradeStation. "We're kind of pouring gasoline on the fire with tariffs and all of this budgetary uncertainty." In early trading on Tuesday, the Dow Jones Industrial Average fell 352.28 points, or 0.83 per cent, to 42,324.96, the S&P 500 lost 31.84 points, or 0.54 per cent, to 5,908.62 and the Nasdaq Composite lost 97.35 points, or 0.51 per cent, to 19,045.36. All 11 S&P sub-sectors traded lower, with information technology and consumer discretionary amongst the worst hit. US bonds have been under pressure since the start of the week, when Moody's downgraded the country's sovereign credit rating. On Wednesday, yields on the 30-year note were back up to 5.01 per cent and the benchmark 10-year yield climbed 5.2 basis points to 4.53 per cent. Highly valued technology stocks weakened as rising rates tend to discount the present value of future profits. Amazon, down 1.5 per cent, led losses among top megacap and growth stocks. UnitedHealth Group dropped 5.1 per cent as a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands in bonuses to help reduce hospital transfers for ailing residents. HSBC also downgraded the stock to "reduce" from "hold". On the earnings front, retailer Target fell 6.7 per cent after slashing its annual forecast due to a pullback in discretionary spending. Wolfspeed tumbled 66.5 per cent following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks. US stocks closed lower on Tuesday, with the S&P 500 snapping a six-day winning streak while the Dow logged its first decline in four sessions. Despite the losses, they have had a solid month so far. The S&P 500 has climbed more than 17 per cent higher from its April lows, when Trump's reciprocal tariffs roiled global markets. A pause in the tariffs, a temporary US-China trade truce and tame inflation data have pushed equities higher although the S&P 500 is still about 3.0 per cent off its record highs. Brokerage Morgan Stanley upgraded its stance on US equities to "overweight," saying the global economy was still expanding, albeit slowly, amid policy uncertainty. Declining issues outnumbered advancers by a 3.93-to-1 ratio on the NYSE and by a 2.98-to-1 ratio on the Nasdaq. The S&P 500 posted two new 52-week highs and no new lows while the Nasdaq Composite recorded 16 new highs and 17 new lows.
The National
21-05-2025
- Politics
- The National
Scottish Labour by-election candidate slammed over TV debate refusal
It comes after reports David Russell – who is the party's candidate to be the new MSP for Hamilton, Larkhall and Stonehouse on June 5 – is ducking an upcoming TV debate. It is understood STV has proposed a candidates debate on June 2 and invited Russell, the SNP's Katy Loudon, Reform UK's Ross Lambie and others. READ MORE: Edinburgh University staff back strike action over £140m cuts and threat to jobs Loudon has hit out at Russell over the move, claiming the candidate 'won't defend' Keir Starmer's cuts. The SNP have repeatedly hit out at the cuts, including to the Winter Fuel Payment. First Minister John Swinney previously said that Scottish Government analysis indicates roughly 900,000 Scottish pensioners will no longer be entitled to support with heating costs this winter. On Wednesday, the Prime Minister said the UK Government wants to make more pensioners eligible for winter fuel payments. The apparent U-turn comes as the Prime Minister has faced pressure from Labour ranks to change course. (Image: PA) Now, Loudon has said that, by refusing to defend their own track record, Labour has made clear they've given up and it's clear this by-election is now a 'straight choice between the SNP and Reform'. "Since Labour took office the people of Scotland have endured one broken promise after another, and now even Labour's candidate in this by-election has given up on defending their dismal record,' she said. "It is incredibly disappointing that David Russell has nothing to say to those who have seen their energy bills skyrocket, who lost out on the Winter Fuel Payment last year or to those with disabilities who will lose support because of Labour austerity measures. "In contrast, I am proud of my record of fighting for this community and of the SNP's record of delivering for Scotland. 'Labour has given up. This by-election is now a straight choice between the SNP and Reform. "The SNP is on your side, and that's the case I'll be making on doorsteps across this community until 5th June." Scottish Labour have been approached for comment.
Daily Record
21-05-2025
- Business
- Daily Record
Labour by-election candidate urges Keir Starmer to restore winter fuel payment in full
David Russell backed reinstatement for all pensioners rather than a more generous means-tested system. Labour's candidate in a crunch Holyrood by-election has called on Keir Starmer to reverse the UK Government's cuts to winter fuel payments. David Russell admitted the policy had been raised on the doorsteps and urged the Prime Minister to reinstate the cash sums in full. His demand came hours before the Prime Minister backed a partial u-turn after a huge backlash. Russell also said he would not appear on an STV candidates' debate on June 2nd, leaving the prospect of the broadcaster empty chairing Labour. Voters will select their new MSP for Hamilton, Larkhall and Stonehouse on June 5th after the death of the SNP's Christina McKelvie. The SNP and Labour were believed to be in a two horse race, but Reform UK have been tipped for second place. An issue raised on the doorsteps during the Labour campaign was the Labour Government's decision to strip millions of pensioners of a WFP worth up to £300 a year. Russell backed a rethink: 'He [Starmer[ made some really hard decisions at the start and, hopefully, as money is freed up, the whole of the UK can benefit and hopefully he reinstates it across the UK.' He also called for all pensioners to get the payment back, rather than making the means test more generous: 'Where you have thresholds, it costs money in administration. It is probably cheaper to reinstate it to where it was, rather than means test or have some form of threshold.' Starmer, who had hinted a possible u-turn, then suggested to MPs the payment would be extended to more pensioners: "As the economy improves, we want to make sure people feel those improvements in their days as their lives go forward. "That is why we want to ensure that as we go forward more pensioners are eligible for winter fuel payments. 'As you would expect Mr Speaker, we will only make decisions we can afford, that is why we will look at that as part of a fiscal event.' A Labour source said: "It's clear that the people of HLS won't do better than Davy Russell when it comes to getting results. From his words to the dispatch box in less than an hour - where Davy leads others follow." Russell also confirmed he would not be present during an STV candidates' debate days before polling day. Party sources told the Record they feared Russell is not a media performer and worried about how would cope on TV. Asked whether he would take part, he replied: 'No.' Asked why not, he said: 'Because I took a conscious decision that I think the best way to get to the public is chapping doors and hearing their concerns live. That's just my personal preference.' He was asked why he could not chap doors and appear on TV: 'As far as I am aware, the debate was only two people, so where is the democracy in that when there's ten candidates?'
