10jili
10jili
United States Total Vehicle Sales registered at 16.5M above expectations (16M) in NovemberCALIFORNIA (6-1) Onyiah 5-13 3-4 13, Suarez 4-12 3-4 14, Krimili 4-14 5-6 15, Twidale 8-13 1-2 20, Williams 0-1 3-4 3, Ackerman 0-2 1-2 1, Abigor 2-3 0-2 4, Donez 1-1 0-0 2, Maul 0-0 0-0 0, Totals 24-59 16-24 72 MICHIGAN ST. (7-0) Tate 2-4 0-0 5, VanSlooten 3-12 7-14 13, Ayrault 7-20 6-8 22, Hallock 5-15 3-4 15, Shumate 1-4 0-0 3, Sotelo 1-1 1-2 3, Blair 0-0 0-0 0, Hampton 4-4 0-0 10, Kimball 0-1 0-0 0, Simmons 2-9 3-5 7, Totals 25-70 20-33 78 California 18 22 20 12 — 72 Michigan St. 26 5 17 30 — 78 3-Point Goals_California 8-22 (Suarez 3-7, Krimili 2-7, Twidale 3-8), Michigan St. 8-20 (Tate 1-2, Ayrault 2-6, Hallock 2-4, Shumate 1-4, Hampton 2-2, Kimball 0-1, Simmons 0-1). Assists_California 14 (Krimili 5), Michigan St. 13 (Simmons 3). Fouled Out_California Onyiah, Suarez, Michigan St. Tate. Rebounds_California 46 (Suarez 11), Michigan St. 42 (Ayrault 9). Total Fouls_California 24, Michigan St. 18. Technical Fouls_California Krimili 1, Michigan St. Tate 1, Team 1. A_325.
A man said he lost £76,000 after falling for a scam that used a deep fake of Martin Lewis. Des Healey, a kitchen fitter from Brighton, handed over £76,000 to what he thought was a bitcoin investment scheme, but actually turned out to be made up. He had come across the advert on Facebook in 2023, which used artificial intelligence (AI) to make it look like finance journalist Martin Lewis was endorsing Elon Musk's bitcoin scheme, the Mirror reports. Read more: Martin Lewis 'simple' tip gives 'immediate' savings on energy bills after price cap rise Des appeared on Good Morning Britain today and spoke to Susanna Reid and Ed Balls about his experience. He bravely shared his story and explained how he didn't realise it was a fake video of Martin Lewis. He said: "If you listen to the voice and look how the mouth moves, that normally gives it away. But at the time, obviously I wasn't studying that. I just got Martin Lewis saying that normally he doesn't cover these [investments] but this time, this is such a good thing. "Now I feel how stupid I was, how blind I was. You know, I'm normally the type of person that would tell other people that doesn't sound right, but these people... "Someone once described it as being under their spell, and I think that was probably the best term that he could have possibly said. I knew, in a way, something wasn't right, but I hoped that it was okay." Des originally told his story to the BBC and explained how he originally replied to the advert as he wanted to "earn a few extra bob" before Christmas . The scammer set up a bank account for Des with Revolut and took a £1,000 investment, but then the scammers pressured him into sending more money, under the fake promise of seeing a return on his investment. Martin Lewis (Image: Kirsty O'Connor/PA Wire) Des ultimately ended up taking out four loans with four different companies totalling £70,000. He managed to get two of the loans cancelled but he still owes £20,000 plus interest of almost £6,000. He is currently in the process of speaking to the Financial Ombudsman. Des's son Derren ultimately stopped him and threatened to call the police. Derren said: "It was like seeing someone you know in a toxic relationship, as an outsider. "You can't understand how they can't see what you're seeing. So that was like our dispute, and then eventually we was just having a conversation... and I think the penny just dropped." Martin Lewis told Good Morning Britain: "It doesn't just impact people's finances and their financial futures. It impacts the entire way you feel about yourself when you've been scammed. And we are just not good enough we allow this epidemic of scams in the UK to continue. "All I can really suggest to people is you be aware that it's not regulated. It's a wild west, and therefore you have to protect yourself." A spokesperson from Meta told Good Morning Britain: "We don't allow fraudulent activity and work closely with law enforcement to support investigations and keep scammers off our platforms." A spokesperson for Revolut said it was sorry to hear about what had happened to Des, and told the BBC: "Revolut works hard and invests heavily to protect our customers as best we can through our fraud prevention technologies, analysing over half a billion transactions a month."
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ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that Pakistan’s economy is witnessing a turnaround due to the difficult decisions taken by the government. Addressing the National Productivity, Quality, and Innovation (PQI) Summit 2024 in Islamabad on Thursday, the minister said that inflation has decreased to a single digit and exports have increased by 14 percent. He also highlighted the rapid growth of IT exports. Iqbal said, “Productivity, quality, and innovation are the bedrock of economic success. By adopting these principles, we can increase our exports from $30 billion to $100 billion.” He said that friendly countries including Saudi Arabia, UAE, Kuwait, Qatar and Azerbaijan, have identified a $29 billion portfolio investment opportunity in Pakistan. The summit began with an opening address by Federal Minister Iqbal, who emphasised the crucial role of productivity, quality, and innovation in driving sustainable economic growth and enhancing Pakistan’s global competitiveness. The Ministry of Planning, Development, and Special Initiatives inaugurated the National Productivity, Quality, and Innovation (PQI) Summit 2024 in Islamabad on Thursday. This two-day event revolves around the theme “Driving Growth Through Excellence in Productivity, Quality, and Innovation.” The event brought together a wide range of stakeholders, including esteemed academics, CEOs of leading brands, leaders from chambers of commerce and industry, and corporate executives. Senior officials from the Ministry of Planning, including members, chiefs, and project directors, also actively participated in the discussions. In his address, Iqbal highlighted Pakistan’s achievements despite early challenges post-independence. “From limited resources, Pakistan has risen to become the seventh nuclear power and is now manufacturing advanced aircraft. However, we must acknowledge that we have lagged behind in key sectors compared to other nations,” he remarked. He pointed out that in 1980, Pakistan’s per capita income was higher than China’s, but the gap has since widened, with Bangladesh and India surpassing Pakistan in economic growth. “We must decide now whether we will become a successful nation in the next 30 years,” he stated. Iqbal stressed collective responsibility to restore Pakistan’s progress. He added that since 2022, efforts have been made to revive the economy. “Today, the stock market is rising, exports are growing, inflation is down to seven per cent, and the stock market has crossed the 96,000-point threshold. To further strengthen the economy, we need political stability, policy continuity, and an export-led growth model, with focus areas in human resource development, IT, agriculture, and mining. If we align our products with global standards, Pakistan can become a competitive economy.” Speaking on the occasion, Planning Secretary Owais Manzoor Samra said that economic progress depends on adopting productivity, quality, and innovation. “Productivity is not just about working hard but working smart. We need to eliminate inefficiencies and integrate modern technologies. This seminar reflects the government’s commitment to these goals,” he added. In his concluding remarks, Iqbal announced that the prime minister will soon launch the “5Es Framework” to promote sustainable development across all sectors. “As a Muslim nation, Pakistan has unique strengths. By turning aspirations into reality, we can secure our place on the global stage. I am confident that the expert panel here will develop actionable strategies for productivity, quality, and innovation,” he concluded. The summit provided a platform for stakeholders to exchange ideas and develop strategies for accelerating Pakistan’s economic growth through productivity, quality enhancement, and innovation. During the summit, breakout sessions were held on Productivity, Quality, and Innovation, attended by research scholars, think tanks, academia, and industry representatives. These sessions focused on improving productivity for sustainable growth, raising quality standards to meet international benchmarks, and promoting innovation to build a competitive economy. The summit is set to serve as a milestone in achieving the goal of increasing exports, ensuring economic stability, and ultimately maintaining Pakistan as a trillion-dollar economy by 2035 and a three-trillion-dollar economy by 2047, under the ministry’s development framework based on the 5Es: Exports, Energy, E-Pakistan, Environment and Climate Change, Food Security, and Equity. The framework emphasizes providing equal opportunities for all, with a special focus on empowering youth, women, and minorities, as well as developing the less developed areas of the country. Copyright Business Recorder, 2024Jayden Daniels and the offense stalling have the Commanders on a three-game losing streak
Metairie, La, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Mutual Savings and Loan Association (the "Association”) announced today that Magnolia Bancorp, Inc. (the "Company”), a newly formed Louisiana corporation which will be the holding company for the Association, has commenced its stock offering in connection with the conversion of the Association from the mutual to the stock form of organization. The Association also announced that the registration statement for the sale of the Company's common stock has been declared effective by the U.S. Securities and Exchange Commission (the "SEC”) and that the approvals required to commence the offering have been received, including the approvals of the Office of the Comptroller of the Currency (the "OCC”) and the Board of Governors of the Federal Reserve System (the "FRB”). The Company is offering for sale up to 833,750 shares of its common stock at a purchase price of $10.00 per share, although the Company may sell up to 958,813 shares of common stock because of demand for the shares or changes in market conditions, without resoliciting investors. The Company's common stock is expected to be quoted on the OTCQB Market. The shares are first being offered in a subscription offering, in priority order, to depositors of the Association with qualifying deposits at the close of business on December 31, 2022, to the Company's tax-qualified Employee Stock Ownership Plan, to depositors of the Association with qualifying deposits at the close of business on September 30, 2024, and finally to depositors of the Association at the close of business on October 31, 2024. The Company began mailing the subscription materials on November 18, 2024. Any shares of common stock remaining after the subscription offering will be offered for sale to members of the general public in a concurrent community offering, with a preference given first to residents in Jefferson, St. Tammany, Lafourche, Orleans, Plaquemines, St. Charles, St. John the Baptist, Tangipahoa and Washington Parishes, Louisiana. The subscription and community offerings are scheduled to expire at 1:00 p.m., Central Time, on December 17, 2024, subject to extension. The subscription and community offerings are being managed by Keefe, Bruyette & Woods. All questions concerning the offering or requests for offering materials should be directed to the Stock Information Center at 1-877-643-8217. The Stock Information Center is open Monday through Friday between 9:00 a.m. and 3:00 p.m., Central Time. The Stock Information Center will be closed on weekends and bank holidays. Completion of the stock offering is contingent upon the Company selling at least 616,250 shares of common stock and is subject to the receipt of final regulatory approvals for the conversion and stock offering, the affirmative vote of the depositors of the Association approving the conversion and other customary closing conditions. This press release is neither an offer to sell nor an offer to buy shares of common stock of the Company. The offer is made only by the Company's prospectus when accompanied by a stock order form. The Company has filed with the SEC a registration statement for the offering to which this press release relates as well as the final prospectus, dated November 8, 2024, for the subscription and community offering. Before you invest, you should read that prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the stock offering. You may obtain these documents for free by visiting EDGAR on the SEC web site at www.sec.gov . The shares of common stock of the Company are not deposits or savings accounts and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. About Mutual Savings and Loan Association The Association was founded in 1885 and serves the banking needs of customers in its market area, which primarily consists of Jefferson and St. Tammany Parishes in Louisiana. The Association operates from its headquarters and main banking office in Metairie, Louisiana, as well as one additional full service branch office located in St. Tammany Parish on the north shore of Lake Pontchartrain in Mandeville, Louisiana. Its primary business activity is attracting deposits from the general public and using those funds primarily to originate one- to four-family residential loans, residential construction loans and home equity lines of credit. At June 30, 2024, the Association had total assets of $35.5 million, total deposits of $20.0 million and equity of $14.0 million. Magnolia Bancorp, Inc. will become the holding company for the Association upon completion of the conversion and stock offering. Forward-Looking Statements This press release and the Company's prospectus for the offering contain forward-looking statements, which can be identified by the use of words such as "estimate,” "project,” "believe,” "intend,” "anticipate,” "plan,” "seek,” "expect,” "will,” "would,” "should,” "could” or "may,” and words of similar meaning. These forward-looking statements include statements of the Company's goals, intentions and expectations; statements regarding the Company's business plans, prospects, growth and operating strategies; statements regarding the quality of the Company's loan portfolio; and estimates of the Company's risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of the Company's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: the failure to obtain the final approval of the OCC for the proposed conversion and related stock offering, delays in obtaining such approval, or adverse conditions imposed in connection with such approval; failure to obtain depositor approval of the conversion; those related to the real estate and economic environment, particularly in the market areas in which the Association operates; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company and the Association may not be successful in the implementation of their business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company's filings with the Securities and Exchange Commission, which are available at the SEC's website, www.sec.gov . The Company cautions prospective investors not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company disclaims any obligation to publicly release any revision made to any forward-looking statement to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. CONTACT: Michael L. Hurley President and Chief Executive Officer (504) 455-2444
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Dana Hull | (TNS) Bloomberg News Jared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. Related Articles National Politics | Trump’s picks for top health jobs not just team of rivals but ‘team of opponents’ National Politics | Biden will decide on US Steel acquisition after influential panel fails to reach consensus National Politics | Biden vetoes once-bipartisan effort to add 66 federal judgeships, citing ‘hurried’ House action National Politics | A history of the Panama Canal — and why Trump can’t take it back on his own National Politics | President-elect Trump wants to again rename North America’s tallest peak But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “childcare deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot (46,000-square-meter) facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the last five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it also had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s cross hairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of five. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said that “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.” With assistance from Sophie Alexander and Kara Carlson. ©2024 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency, LLC.Quick Facts About Kelly Loeffler: Age, Net Worth, Family And Insider Trading ScandalA majority of farmers voted for Donald Trump, even though the president-elect’s economic agenda is antithetical to the financial interests of American agriculture. Since the dawn of this century, the world has added 398 million acres of land for the production of food grains, feed grains and oil seeds. Much of that acreage has been in tropical regions. At the same time, population growth in China, a primary buyer of U.S. agricultural goods, has slowed, and its population is aging. Similar trends can be seen in other countries that have been traditional importers of U.S. goods. We also face major geopolitical events, such as the Ukraine-Russia war, and most resolutions of that war would likely adversely affect U.S. farmers. The world has changed. Competition among major producing nations has changed the ability of American agriculture to be a preferred and low-cost provider of grains to other nations. Against this backdrop, one must ponder the question of how an isolationist foreign policy and the use of heavy tariffs could possibly lead to anything other than serious adverse consequences for our U.S. agricultural sector. History teaches us lessons, and sadly we often forget them while drunk on the political cocktail of the moment. During the first Trump presidency, significant tariffs were imposed on China. This led to major negative impacts on U.S. farmers. What did the government do? The Trump administration created an ad hoc disaster relief program that paid billions to U.S. farmers. “Ad hoc” is just a shiny term for an administration not being able to get its act together to have a consistent and logical approach to setting policy. It is akin to government by chaos — going from one fire drill to another. Trump was elected based on many promises, one of which was to “drain the swamp.” There is a lot of chatter about reducing government outlays for all sorts of programs. Trump wants to put America “first.” Setting aside political differences, the reality is that America is not an island. It is an important part of the larger world. Withdrawal from engagement with other nations, whether in the context of trade or overall foreign relations, cannot lead to good consequences for America’s economic security, nor for our nation’s ability to play a strong role in maintaining a stable and peaceful world. My fellow farmers, it is time for a reality check. We face way more than a theoretical risk of losing a large share of the markets for our grains and livestock. Don’t count on that brown envelope from Uncle Sam in your mailbox to bail you out from hardship. From the extensive reading that I have done on the topic of the economic impact of Trump’s tariffs, no credible economist paints any picture other than one of significant detrimental consequences to our agricultural sector. The same is true for many other segments of the economy. America has to maintain a global perspective — rather than one that stops at our shores — to stay competitive and to remain in its role as a world leader. The proposed paths of Trump’s next presidency are antithetical to those roles. Palen is a Kansas native and a fifth-generation farmer and agriculture consultant in Colorado and Kansas. He wrote this for the Kansas Reflector , and it was distributed by the Kansas City Star and Tribune Content Agency. Get local news delivered to your inbox!
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PARIS (AP) — After more than 20 years of negotiations, the 27-nation European Union and Mercosur — a South American trade bloc of Brazil, Argentina, Paraguay, Uruguay and Bolivia — are still trying to finalize a major trade agreement that is sparking protests by European farmers. A draft deal was announced in 2019 , but disagreements over environmental, economic and political issues are delaying its final approval. Here’s a look at the deal, why it matters, and challenges it faces: It aims to create one of the largest free trade zones in the world, covering over 700 million people and nearly 25% of global GDP. Much like the U.S.-Mexico-Canada free trade agreement, its goal is to reduce tariffs and trade barriers, making it easier for businesses on both sides to export goods. For the EU, the deal would mean lower tariffs on products like cars, machinery and chemicals. Mercosur countries would benefit from better access to EU markets for agricultural exports such as beef, poultry and sugar. Negotiations began in 1999 and an initial agreement was reached in 2019, but it remains unratified due to significant opposition, particularly from France. European farmers, especially in France, worry that an influx of South American products would saturate their markets, undercutting local agriculture. One year after a massive European farmers’ protest movement, another round of protests have erupted across the continent, with many claiming that reduced tariffs or duty-free quotas for South American products could be fatal for them. For example, 99,000 tons of beef would face a reduced tariff of just 7.5%, while 180,000 tons of poultry would enter duty-free. According to the European Commission, this accounts for less than 2% of the EU’s annual beef consumption. Livestock farmers argue they cannot compete with South American producers, who benefit from lower labor costs, larger farms and less stringent regulations on practices such as the use of growth hormones compared to EU standards. In October, a European Commission audit found that Brazil, the world’s largest exporter of beef, cannot guarantee that its exports to the EU are free of the growth hormone “oestradiol 17-β,” which has been banned in Europe for decades. Germany, Spain, Italy and Portugal are among EU countries pushing for the deal to be finalized by year's end. Germany, in particular, sees Mercosur as a key market for its automakers. In South America, leaders like Brazilian President Luiz Inácio Lula da Silva view the agreement as a boost for regional trade and economic growth. Countries like Uruguay and Paraguay also support the deal, hoping to diversify their trade partners and reduce reliance on China. Argentina’s President Javier Milei has also backed it, signaling a shift from his predecessor’s skepticism. The deal is also backed by industries in both regions. European carmakers and pharmaceutical companies see it as a way to access Mercosur’s growing markets. Ursula von der Leyen, president of the European Commission, has also expressed strong support, calling it “an agreement of great economic and strategic importance” — despite opposition from certain EU member states. France, with the biggest agriculture sector in Europe, has led opposition within the EU, along with Poland, Austria and the Netherlands. French President Emmanuel Macron has called for stronger environmental and labor standards, stating that “France would not sign the deal as is." France has also requested that the European Commission renegotiate the text, particularly by incorporating “mirror clauses,” which would impose identical standards on products traded between the two blocs. However, France’s ability to block the deal is limited, as trade talks fall under the authority of the European Commission, which negotiates for the 27 member states. Environmental groups, including Greenpeace, have also criticized the deal, warning it could accelerate deforestation in the Amazon and increase the use of harmful pesticides. The Mercosur summit on Dec. 5-6 in Uruguay could be a key moment for the deal. However, even if the agreement is signed, it must be ratified by all 27 EU member states, the European Parliament and all member states’ national parliaments before taking effect. This would give France a chance to veto it. To speed up and make approval easier, the European Commission is considering splitting the deal into two parts: a broader cooperation agreement and a trade-focused agreement. The latter would only require a majority vote under EU rules, bypassing the need for unanimous approval. Under this plan, France would lose its veto power unless it can gather enough support to form a blocking minority. While countries like Poland and Austria have raised objections, their combined influence falls short of the threshold needed to halt the deal.
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