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Under questioning from Democrats Tuesday, Commerce Secretary Howard Lutnick acknowledged that he had met with Jeffrey Epstein twice after his 2008 conviction for soliciting prostitution from a child, reversing Lutnick’s previous claim that he had cut ties with the late financier after 2005. Lutnick again downplayed his relationship with the disgraced financier who was once his neighbor in New York City as he was questioned by Democrats during a subcommittee hearing of the Senate Appropriations Committee. He described their contact as a handful of emails and a pair of meetings that were years apart. I did not have any relationship with him. I barely had anything to do with him, Lutnick told lawmakers. But Lutnick is facing growing scrutiny, including calls for his resignation, from lawmakers after the release of case files on Epstein contradicted Lutnick’s claims on a podcast last year that he had decided to never be in the room with Epstein again after a 2005 tour of Epstein’s home that disturbed Lutnick and his wife. The commerce secretary told senators Tuesday that he and his family actually had lunch with Epstein on his private island in 2012 and he had another hour-long engagement at Epstein’s home in 2011. Lutnick, a member of President Donald Trump’s Cabinet, is the highest-profile U.S. official to face bipartisan calls for his resignation amid revelations of his ties to Epstein. His acknowledgement comes as lawmakers are grasping for what accountability looks like amid the revelations contained in what’s known as the Epstein files. In countries like the United Kingdom, the Epstein files have triggered resignations and the stripping of royal privileges, but so far, U.S. officials have not met the same level of retribution. Senators want to dig into Lutnick’s ties to Epstein Sen. Chris Van Hollen, the Democrat who questioned Lutnick, told him, “There’s not an indication that you yourself engaged in any wrongdoing with Jeffrey Epstein. It’s the fact that you believe that you misled the country and the Congress based on your earlier statements.” Van Hollen, D-Md., stopped short of calling for Lutnick’s resignation on Monday, but requested documentation from Lutnick on any of his ties to Epstein. It’s absolutely essential that he provide Congress with those documents, given the misrepresentations he’s made, and then we’ll go from there, he said. Lutnick during the Senate hearing said he would give that request some thought, adding, I have nothing to hide. However, several Senate Republicans were also questioning Lutnick’s relationship with Epstein. Sen. Roger Wicker, R-Miss., said the visit to Epstein’s private island would raise questions. And Sen. Thom Tillis, R-N.C., told reporters, It’s something I’m concerned with. Tillis stayed away from calling for Lutnick to leave his post, but added that he would do himself a service by just laying exactly what and what did not happen over the course of what seems to be an interesting relationship that included business entanglements. A pair of House members call for resignation Meanwhile, House members who initiated the legislative effort to force the release of the files are calling for Lutnick to resign. Republican Rep. Thomas Massie of Kentucky called for that over the weekend after emails were released that alluded to the meetings between Lutnick and Epstein. Rep. Ro Khanna, a California Democrat, joined Massie in pressuring Lutnick out of office on Monday. Based on the evidence, he should be out of the Cabinet, Khanna said. He added, It’s not about any particular person. In this country, we have to make a decision. Are we going to allow the rich and powerful people who are friends and (had) no problem doing business and showing up with a pedophile who is raping underage girls, are we just going to allow them to skate? Stephen Groves, Associated Press
Category:
E-Commerce
Dont feel bad splurging on that $7 latte the next time youre in a mid-afternoon attention slump. A new study published in the Journal of the American Medical Association this week provides some strong evidence that drinking coffee and tea is linked to a lower risk of developing dementia. The longitudinal research followed a group of around 130,000 people for more than 40 years, collecting behavioral and health information over the course of their lifetimes. The results paint a clear picture: People with a habit of drinking two to three cups of coffee or one to two cups of tea on a daily basis demonstrated a lower risk of dementia compared to their less caffeinated peers. People who drank up to five cups of coffee had around 20 percent less risk of dementia, while those who drank one or more cups of tea showed 15 percent less of developing the neurodegenerative condition. Decaf coffee wasnt linked to the same benefits, according to the new research. Caffeine is the key ingredient that appears to be providing some protection from cognitive decline for coffee and tea drinkers, possibly through its ability to reduce inflammation in the brain. The molecule we rely on to wake us up in the morning has also shown promise in reducing insulin sensitivity and lowering the risk of type 2 diabetes a big risk factor for age-related cognitive decline. While caffeine appears to be the magic ingredient, other substances in coffee and tea have also been shown to positively impact health. Beyond caffeine, coffee and tea contain bioactive compounds like polyphenols, chlorogenic acid, and catechins, which offer antioxidant and vascular benefits by reducing oxidative stress and improving cerebrovascular function, the researchers wrote. Furthermore, tea components such as epigallocatechin-3-gallate and L-theanine may provide additional benefits by enhancing relaxation and neuroprotection. Coffee and tea show promise but questions remain With such a massive sample size and so many years of data, the new research on dementia and caffeine is about as robust as an Italian dark roast. Still, the studys design asking people about their behavior and tracking their diagnoses doesnt lend itself to causal explanations. While the evidence that caffeine provides some neuroprotective effects against one one of the most devastating age-related conditions is exciting, scientists still cant definitively say what causes the decreased risk, only that coffee and tea intake is correlated with less risk. In the analysis, the researchs authors did control for participants genetic risk of developing dementia along with an array of other potential confounding factors, including education, socioeconomic status, smoking, exercise habits and medication use. In spite of its scale and depth, the NIH-funded study still has a few notable limitations beyond the observational nature of its design. The study exclusively relied on large, gender-divided data sets collected from people who work in health-related jobs, drawing on the Health Professionals Follow-up Study and the Nurses Health Study. It also did not collect granular data about the kind of tea the participants consumed, so its not clear if green and black tea are created equal or if only caffeinated tea showed promise for keeping people sharp as they age. While the link between coffee and reduced dementia risk is promising, more coffee also doesnt necessarily mean less risk. Researchers found that the positive impact tapered off after two or three cups of coffee and one to two cups of tea, so dont go ordering that quad shot or black eye hoping to squeeze even more benefit out of your caffeine intake. Caffeine raises your heart rate and can raise blood pressure too, so keeping your bodys full health picture in mind is important.
Category:
E-Commerce
Oil and gas exports have sustained Russia’s finances throughout its war against Ukraine. But as the fourth anniversary of the full-scale invasion approaches, those cash flows have suddenly dwindled to lows not seen in years. It’s the result of new punitive measures from the U.S. and the European Union, U.S. President Donald Trump’s tariff pressure against India, and a tightening crackdown on the fleet of sanctions-dodging tankers carrying Russian oil. The drop in revenue is pushing President Vladimir Putin to borrow from Russian banks and raise taxes, keeping state finances on an even keel for now. But those measures only increase strains in a war economy now plagued by slowing growth and stubborn inflation. In January, Russian state revenues from taxing the oil and gas industries fell to 393 billion rubles ($5.1 billion). Thats down from 587 billion ($7.6 billion) in December and from 1.12 trillion ($14.5 billion) in January 2025. That’s the lowest since the COVID-19 pandemic, says Janis Kluge, an expert on the Russian economy at German Institute for International and Security Affairs. A new approach to sanctions To pressure the Kremlin to halt fighting in Ukraine, the Trump administration imposed sanctions on Russias two largest oil companies, Rosneft and Lukoil, from Nov. 21. That means anyone buying or shipping their oil runs the risk of being cut off from the U.S banking system a serious concern for any multinational business. On top of that, on Jan. 21 the EU began banning fuel made from Russia crude meaning it could no longer be refined somewhere else and shipped to Europe in the form of gasoline or diesel fuel. The head of the EU’s executive commission, Ursula von der Leyen, on Friday proposed a full ban on shipping services for Russian oil, saying sanctions offered leverage to push Russia to halt the fighting. We must be clear-eyed: Russia will only come to the table with genuine intent if it is pressured to do so,” she said. The latest sanctions are a step beyond the oil price cap imposed by the Group of Seven democracies under the Biden administration. The $60 per barrel cap, enforced through insurers and shippers based in G-7 countries, was aimed at reducing Russias profits, not banning imports, out of concern over higher energy prices. The cap did reduce government oil revenues temporarily, especially after an EU ban on most Russian seaborne oil forced Russia to shift sales to China and India. But Russia built a shadow fleet of aging tankers operating beyond the reach of the cap, and revenues rose again. Pressure on India to stop Russian oil imports Trump on Feb. 3 agreed to lower tariffs to 18% from 25%, saying Indian President Narendra Modi agreed to halt Russian crude imports, and on Friday removed an additional 25% tariff imposed over continued imports of Russian oil. Modi hasnt commented. Foreign affairs spokesman Randhir Jaiswal said India’s strategy was diversifying our energy sourcing in keeping with objective market conditions. Kremlin spokesman Dmitry Peskov noted that Moscow was monitoring the statements and remains committed to our advanced strategic partnership with New Delhi. In any case, Russian oil shipments to India have declined in recent weeks, from 2 million barrels per day in October to 1.3 million per day in December, according to figures from the Kyiv School of Economics and the U.S. Energy Information Administration. Data firm Kpler says India is unlikely to fully disengage in the near term” from cheap Russian energy. Ukraine’s allies increasingly have sanctioned individual shadow tankers to deter customers from taking their oil raising the number to 640 among the U.S., U.K., and EU. U.S. forces have seized vessels linked to sanctioned Venezuelan oil, including one sailing under a Russian flag, while France briefly intercepted a suspected shadow fleet vessel. Ukrainian strikes have hit Russian refineries, pipelines, export terminals, and tankers. Russian oil is trading at a steep discount Buyers are now demanding bigger discounts on Russian oil to compensate for the risk of running afoul of U.S. sanctions and the hassle of finding payment workarounds that skirt banks reluctant to touch the transactions. The discount widened to about $25 per barrel in December, as Russia’s primary crude export, Urals blend, fell below $38 per barrel, compared with about $62.50 per barrel for international benchmark Brent crude. Since Russias taxes on oil production are based on the price of oil, that cuts into state revenues. “Its a cascading or domino effect, said Mark Esposito, a senior analyst focused on seaborne crude at S&P Global Energy. Including diesel and gasoline created a really a dynamic sanctions package, a one-two punch that are impacting not only the crude flow, but the refined product flow off of those barrels. … A universal way of saying, if its coming from Russian crude, its out. Reluctance to take delivery has meant an inordinate amount about 125 million barrels has built up in tankers at sea. That has driven up costs for scarce capacity, with rates for very large oil tankers reaching $125,000 per day and thats directly correlated with the ramifications of the sanctions, said Esposito. Slowing growth strains Russia’s budget On top of that, economic growth has stalled as the boost from war-related spending reaches its limits and as labor shortages put a cap on potential business expansion. And lower growth means less tax revenue. Gross domestic product increased only 0.1% in the third quarter. Forecasts for this year range between 0.6% and 0.9%, down from over 4% in 2023 and 2024. I think the Kremlin is worried about the overall balance of the budget, because it coincides with the economic downturn, said Kluge. And at the same time the costs of the war are not decreasing. The Kremlin responds by raising taxes and borrowing The Kremlin has resorted to higher taxes and borrowing to fill the gap left by dwindling oil revenues and by slower economic growth. The Kremlin-controlled parliament, the Duma, raised value-added tax paid on consumer purchases at the cash register to 22% from 20% and increased levies on car imports, cigarettes, and alcohol. The government has increased its borrowing from compliant domestic banks. And a national wealth fund still has reserves to patch budget holes. So the Kremlin has money for now. But raising taxes can slow growth even more. And borrowing risks worsening inflation, brought down to 5.6% through interest rates of 16% from the central bank, down from a peak of 21%. “Give it six months or a year, and it could also affect their thinking about the war, said Kluge. I dont think they will seek a peace deal because of this, but they might want to lower the intensity of the fighting, focus on certain areas of the front and slow the war down. This would be the response if its getting too expensive. David McHugh, Associated Press
Category:
E-Commerce
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