House Speaker Emerita Nancy Pelosis message at the annual South by Southwest festival could be summarized in three words: Follow the money.
Pelosi uttered that specific phraseand similar versions of itseveral times during her interview with Evan Smith, a contributing writer at The Atlantic, as part of the magazines Future of Democracy summit this morning in Austin, Texas.
Pelosi, who represents Californias 11th congressional district, began by discussing the recent collapse of Silicon Valley Bank and the anxiety sweeping through not only her home district but the tech and financial industries as a whole. I dont think theres any appetite in this country for bailing out a bank, she said. What we would hope to see by tomorrow morning is for some other bank to buy the bank. She said there were multiple potential buyers, but she couldnt reveal their names. Pelosi pointed out that former President Donald Trump had authorized the reduction of certain Dodd-Frank protections that had been instituted following the 2008 financial crash: If they were still in place and the bank had to honor them, this might have been avoided, she offered. Rather than repeating our recent history and using taxpayer money to rescue the failed institution, Pelosi said the focus should be on protecting depositors and small businesses at risk of closing or not making payroll. We do not want contagion, she said.
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Pelosi pointed to moneythe reckless use and exploitation of itas the root of virtually every problem facing America and the world today. Whether the potential fallout of a failed bank like SVB or the rise of autocracy around the world, it all comes down to money, money, money, and little else. Money buying Russian oil is paying for the assault on democracy in Ukraine, Pelosi said. She accused China of buying votes from smaller countries at the United Nations, and said the U.S. must join with the European Union in using the leverage of this big market to have the playing field be more even.
Pelosi refused to say Trumps name even once during her one-hour session, referring to the 45th president instead by Whats his name under her breath. Still, she condemned the extremism and anarchy that had overtaken American politics since Trump began his rise nearly eight years ago. Her husband, Paul Pelosi, who was struck in the head with a hammer by a home invader last fall, joined her on todays trip to Texas, which was unusual, given that hes still recovering from the attack. I was the target, she said. He paid the price.
She spoke of the January 6 insurrection with sadness and disgustanarchists making poo-poo on the floor of the Capitoland acknowledged the rioters goal to put a bullet in her head that day. Her successor, Speaker Kevin McCarthy, recently gave a trove of January 6 material to Fox News in the name of governmental transparency. Foxs biggest star, Tucker Carlson, downplayed the severity of the Capitol storming in a broadcast last week. Something must be wrong with Tucker Carlson, Pelosi said. Theres money that runs a lot of it.
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Taking a brief conciliatory note, she said she was hoping for the best for McCarthy as he continues his first year as House speaker. We need to listen, and I hope that Kevin will listen to other than just the very radical, right-wing fringe of his party, she said, apparently gesturing at Trump and other election deniers. When asked about the prospect of Trump again becoming the GOP nominee in 2024, she was ready with a canned line: If he is, we impeached him twice, and hes gonna lose twice. (Left unsaid was that neither impeachment resulted in Trumps removal from office.)
As for President Joe Biden, Pelosi called him a magnificent leader and said that she certainly hopes he will run again. (She joked that hes younger than she is.) Nevertheless, Pelosi seemed slightly agitated that Biden had yet to formally declare his candidacy, leaving other potential candidates in the Democratic Party with few options. I think it would be efficient for us to have a president seek reelection, and we should be moving on with it when we can. Whatever decision he makes, wed like to know.
Jessie J has been forced to rearrange or cancel all upcoming tour dates as she will be having a second operation as part of her treatment for breast cancer.
The 37-year-old announced in June that she had been diagnosed with early breast cancer. She had her first operation later in the same month.
The singer, whose real name is Jessica Cornish, was due to tour the UK and Europe in October, before gigs in the US in November.
In a video posted on Instagram, she’s now told fans: “Unfortunately, I have to have a second surgery, nothing too serious, but it has to be done before the end of the year and unfortunately, that falls right in the middle of a tour that I had booked.”
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Jessie J has battled numerous health issues, including being diagnosed with a heart condition when she was eight years old and suffering a minor stroke aged 18.
The singer-songwriter has had three number one songs in the UK singles chart, with Price Tag and Domino – both released in 2011 – and 2014’s Bang Bang, a collaboration with Ariana Grande and Nicki Minaj.
She won the Critics’ Choice prize at the 2011 BRITs and bagged four Mobo awards in the same year.
The man dubbed “Britain’s most hated boss” for his controversial policy of sacking hundreds of seafarers and replacing them with cheaper agency staff is to quit.
Sky News can exclusively reveal that Peter Hebblethwaite, the chief executive of P&O Ferries, is leaving the company.
Sources said he had decided to resign for personal reasons.
Mr Hebblethwaite joined the ranks of Britain’s most notorious corporate figures in 2022 when P&O Ferries – a subsidiary of the giant Dubai-based ports operator DP World – said it was sacking 800 staff with immediate effect – some of whom learned their fate via a video message.
The policy, which Mr Hebblethwaite defended to MPs during subsequent select committee hearings, erupted into a national scandal, prompting changes in the law to give workers greater protection.
Under the new legislation, the government plans to tighten collective redundancy requirements for operators of foreign vessels.
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In a statement issued in response to a request from Sky News, a P&O Ferries spokesperson said: “Peter Hebblethwaite has communicated his intention to resign from his position as chief executive officer to dedicate more time to family matters.
Image: Peter Hebblethwaite gives evidence to a committee of MPs in 2022. Pic: PA
“P&O Ferries extends its gratitude to Peter Hebblethwaite for his contributions as CEO over the past four years.
“During his tenure the company navigated the challenges of the COVID-19 pandemic, initiated a path towards financial stability, and introduced the world’s first large double-ended hybrid ferries on the Dover-Calais route, thereby enhancing sustainability.
“We extend our best wishes to him for his future endeavours.”
A source close to the company said it anticipated making an announcement on Mr Hebblethwaite’s successor in the near term.
A former executive at J Sainsbury, Greene King and Alliance Unichem, Mr Hebblethwaite joined P&O Ferries in 2019, before taking over as chief executive in November 2021.
Insiders claimed on Friday that he had “transformed” the business following the bitter blows dealt to its finances by the COVID-19 pandemic and – to some degree – by the impact of Britain’s exit from the European Union.
Image: A union protest is shown at the height of the mass sackings row in 2022
P&O Ferries carries 4.5 million passengers annually on routes between the UK and continental European ports including Calais and Rotterdam.
It also operates a route between Northern Ireland and Scotland, and is a major freight carrier.
The company’s losses soared during the pandemic, with DP World – its sole shareholder – supporting it through hundreds of millions of pounds in loans.
Its most recent accounts, which were significantly delayed, showed a significant reduction in losses in 2023 to just over £90m.
The reduction from the previous year’s figure of almost £250m was partly attributed to cost reduction exercises.
The accounts also showed that Mr Hebblethwaite received a pay package of £683,000, including a bonus of £183,000.
“I reflected on accepting that payment, but ultimately I did decide to accept it,” he told MPs.
“I do recognise it is not a decision that everybody would have made.”
The row over his pay was especially acute because of his admission that P&O Ferries’ lowest-paid seafarers received hourly pay of just £4.87.
Mr Hebblethwaite had argued since the mass sackings of 2022 that the company would have gone bust without the drastic cost-cutting that it entailed.
The company insisted at the time that those affected by the redundancies had been offered “enhanced” packages to leave.
Last October, the then transport secretary, Louise Haigh, said: “The mass sacking by P&O Ferries was a national scandal which can never be allowed to happen again,” adding that measures to protect seafarers from “rogue employers” would prevent a repetition.
“This issue has been ignored for over 2 years, but this new government is moving fast and bringing forward measures within 100 days,” Ms Haigh added.
“We are closing the legal loophole that P&O Ferries exploited when they sacked almost 800 dedicated seafarers and replaced them with low-paid agency workers and we are requiring operators to pay the equivalent of National Minimum Wage in UK waters.
“Make no mistake – this is good for workers and good for business.”
The minister’s description of P&O Ferries as “rogue”, and suggestion that consumers should boycott the company, sparked a row which threatened to overshadow the government’s International Investment Summit last October.
Sky News’s business and economics correspondent, Paul Kelso, revealed that DP World had withdrawn from participating in the event, and paused a £1bn investment announcement.
The company relented after Sir Keir Starmer publicly distanced the government from Ms Haigh’s characterisation of DP World.
The Russian president thinks he’s winning this war, and it’s hard to escape the conclusion that he’s using diplomacy to play for time while he carries on beating down the Ukrainians’ will to win.
And at the moment, no one is stopping him
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At least 14 killed in Kyiv attack
Ukraineis hitting back, particularly at Russia‘s oil installations, more of them going up in thick black smoke, after being hit by long-range Ukrainian drones.
It is taking a heavy toll on Putin’s ‘Achilles heel’, but on its own, analysts don’t expect it will be enough to persuade him to end this war.
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British Council building hit in Kyiv
The West can wring its hands in condemnation.
But it’s divided between Europe that wants a ceasefire and much more severe sanctions, and Donald Trump, who, it seems, does not – strangely always willing to sympathise with the Russians more than Ukraine.
He’s back to blaming Ukraine for starting the war, saying earlier in the week that Kyiv should not have got into a war it had no chance of winning.
It is a grotesque perversion of history. Ukraine, of course, had no choice but to fight to defend itself when it was invaded in an act of unprovoked aggression.
Every time the US president has condemned Russia for these kinds of attacks, he has never followed through and done nothing to punish them.
Image: Rescue workers carry an injured woman after a Russian strike on Kyiv, Ukraine. Pic: AP
More worryingly for the Ukrainians, the Russians are getting the upper hand in the drones war, taking Iranian technology and souping it up into faster-moving drones that the Ukrainians are having increasing difficulty bringing down.
They expect as many as a thousand drones a night coming their way by the winter, and many, many more innocents to die.
A war that began as one man’s mad idea has, in three and a half years, metastasised into a titanic struggle between east and west, fought increasingly with machines in a dystopian evolution of war.
If Mr Trump is not prepared to use his power to bring this war to an end, what will another three and a half years of his presidency bring?