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Elon Musk backs Howard Lutnick as agent for ‘change’ at US Treasury

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Elon Musk backs Howard Lutnick as agent for ‘change’ at US Treasury

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Elon Musk has thrown his support behind Howard Lutnick over fellow Wall Street investor Scott Bessent in the race to be Donald Trump’s new Treasury secretary, as the world’s richest man flexes his status as close confidant to the president-elect. 

Musk, who Trump this week chose to co-lead an effort to cut government spending, on Saturday wrote on X that “Bessent is a business-as-usual choice, whereas @howardlutnik will actually enact change”. 

“Business-as-usual is driving America bankrupt, so we need change one way or another,” he added. 

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The comments from the head of Tesla inject new drama into the jockeying for Trump’s treasury secretary, one of the most high profile jobs in his cabinet that has yet to be staffed. Within the past week, Trump has announced a string of nominees in foreign policy, law enforcement, healthcare and other areas. 

A representative for Bessent said he could not be reached for comment and a Lutnick spokesperson declined to comment.

Bessent, a former chief investment officer at George Soros’s family office, and Cantor Fitzgerald chief executive Lutnick, who is also co-chair of the Trump transition team, are the top contenders to lead the Treasury department. Hedge fund billionaire John Paulson dropped out of the race for the job on Tuesday. 

Paulson said that “complex financial obligations would prevent” him from entering the administration “at this time” but he would continue advising Trump’s economic team.

Bessent and Lutnick have been spotted around Palm Beach and Mar-a-Lago, Trump’s Florida home and resort, since the former president won the 2024 general election last week.

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Lutnick promoted Musk and his “department of government efficiency” at a Madison Square Garden rally for Trump last month.

Backers of Bessent, meanwhile, include Larry Kudlow, a key economic adviser to Trump in his first term, Steve Bannon, and his former boss and mentor, investor Stan Druckenmiller.

Musk wrote that “Courage during tough times is a great virtue,” in response to an X post by the CEO of Rumble praising Lutnick’s choice to support the business. Rumble went public via a special acquisition company led by the Wall Street investor.

Bessent has been criticised by some Trump allies for not being aligned with the president-elect on tariffs. However, Bessent wrote a Fox op-ed published Friday saying that tariffs are a “useful tool” to accomplish foreign policy objectives and raise revenue.

“The truth is that other countries have taken advantage of the US’s openness for far too long, because we allowed them to,” he wrote. “Tariffs are a means to finally stand up for Americans.”

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Musk’s social media posts will be a test of his growing influence over Trump. The entrepreneur became one of the ex-president’s most vocal cheerleaders and prominent funders during his campaign — loyalty that Trump has rewarded by appointing Musk and Vivek Ramaswamy to lead the cost-cutting drive.

Musk has said he can cut $2tn out of government spending.

The billionaire also joined Trump during a call with Volodymyr Zelenskyy, president of Ukraine, last week to discuss the war there.

In response to Musk backing Lutnick, investor James Fishback, a Bessent fan, asked the entrepreneur on X to moderate an interview with the pair.

“I’m open to that,” replied Musk.

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How a Beer Hall Keeps Up With a World Cup Crowd

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The fans see the games, the crowds, the food and the beer. But behind every World Cup watch party is a team working long before kickoff and well after the final whistle. We go behind the scenes at a beer hall in Brooklyn to see what it takes to serve a room full of soccer fans on game day.

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With the white nationalist group Patriot Front, what you see is not what you get

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With the white nationalist group Patriot Front, what you see is not what you get

Members of the group Patriot Front ride the subway as a commuter looks on, in Washington, D.C., on July 4.

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Cheney Orr/Reuters

The sight of hundreds of masked men roaming the streets of Washington, D.C., on July Fourth weekend, wearing khakis, blue shirts and uniform patches, was chilling to some of the city’s residents.

For many Americans, it was the first they heard about Patriot Front, a white nationalist organization that was born out of the deadly 2017 Unite the Right rally in Charlottesville, Va. A now-viral Reuters photo prompted reflections on the experience of a lone African American woman who was photographed in a Metro subway car, surrounded by white supremacists.

The planned demonstration of force was timed to bring a fringe group of extremists into public view as the nation marked 250 years of its independence. Indeed, the stunt succeeded in earning the group media coverage across mainstream outlets, amplifying its brand and potential to reach new recruits. On this occasion, the members refrained from engaging in violence and property damage, projecting an image of law-abiding, orderly activism.

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But those who are closely familiar with Patriot Front’s history and operations warn: Don’t believe what you see.

“That is not who they are in private,” said Len Kamdang, director of the Criminal Justice Project at the Lawyers’ Committee for Civil Rights Under Law. “Although they were on their best behavior [last] weekend, this is a dangerous group that commits acts of violence all over the country.”

Patriot Front’s history of violence and property damage

Kamdang’s organization sued members of Patriot Front for vandalizing a public mural dedicated to the tennis legend and Black activist Arthur Ashe in Richmond, Va., in 2021. Ashe, who was inducted into the International Tennis Hall of Fame in 1985, was born in Richmond and his legacy is a continuing source of pride to members of that community.

“A couple of Patriot Front members showed up under cover of night and vandalized the mural,” Kamdang said. “They painted white stencils all over. … They literally tried to whitewash him and they put their symbols of hate all over — their stencils, their slogans. And all the while they were caught on video. And that video leaked using some of the most horrible language that you can imagine.”

In many jurisdictions, law enforcement can seek additional hate crime charges or sentencing enhancements in cases where illegal acts appear to have been motivated by racial bias. But in this case, Kamdang said, Patriot Front members faced no criminal charges and their identities were only revealed when online activists later infiltrated the group and leaked internal records.

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Graham Platner makes it official in Maine, submitting paperwork to leave Senate race

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Graham Platner makes it official in Maine, submitting paperwork to leave Senate race

Now-former Democratic Senate candidate Graham Platner speaks at his primary election night event on June 9 in Blue Hill, Maine. Platner officially dropped out of the race July 10 following rape allegations from a former romantic partner that he denies.

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Graham Platner, Maine’s Democratic nominee for Senate, is officially out of the race.

The Maine Secretary of State said Platner filed the necessary paperwork to withdraw his candidacy two days after he announced he planned to do so following an accusation of rape by a former romantic partner. Platner denies the allegation.

The Maine Democratic Party has until July 27 to pick Platner’s replacement.

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In his withdrawal notice, Platner said “people are desperate for change” and that’s why they voted “for a new kind of politics” by making him the Democratic nominee. He expressed gratitude for those who supported his campaign and said that he will continue to fight for “the movement we have built together and the future we believe in.”

He ended his notice with a strong statement aligned with the progressive platform.

“F*ck ICE. Free Palestine. Up the Hearts.”

Platner announced his plan to withdraw from the race in an 11-minute video he posted to social media on July 8. He said he had no choice but to suspend his campaign, citing it was no longer viable financially.

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“We are going to lose our ability to fundraise. We are going to lose our ability to access voter data. We are going to lose all of the things that any campaign needs on the basic level simply to function,” he said.

Platner added that dropping out was not an admission of guilt. Rather, the decision, he said, is to keep the progressive movement in Maine alive to defeat Republican Sen. Susan Collins in November. Platner blamed the “political establishment” for his downfall and argued the goal was to force him out of the race.

“We built a campaign. We engaged in electoral politics. We motivated people. We banded together. We did it the way that we were told we are supposed to make change and we won. And now they are not going to let us have it. Not if it’s me,” he said.

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