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<ul class="summary-list"><li>With Trump's victory and upcoming GOP control of the Senate, the Supreme Court looms large.</li><li>Trump appointed a third of the current Supreme Court in just one term.</li></ul>During Donald Trump's first term as president, he appointed three justices to the Supreme Court, giving it a 6-3 conservative supermajority.His Supreme Court appointees — Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett — later voted to <a target="_blank" class="" href="https://www.businessinsider.com/supreme-court-abortion-decision-final-ruling-scotus-roe-v-wade-2022-6">overturn</a> Roe v. Wade, which for nearly 50 years had afforded women a constitutional right to an abortion.With Trump having <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">won a second term</a> in office, he now has the potential to further shape the court in ways that no other president has done in modern times.<h2 id="52e7d3b8-38b3-4103-addf-05a14a7d9c87">Trump's second term gives Thomas and Alito a chance to retire</h2><a target="_blank" class="" href="https://www.businessinsider.com/republicans-win-senate-election-majority-election-2024-11">Republicans won a majority in the US Senate</a> alongside Trump's victory, which means that they'll be working in tandem should a vacancy arise on the court in Trump's second term.Associate Justices Clarence Thomas, 76, and Samuel Alito, 74, are two of the most stalwart conservatives on the Supreme Court. And while there's always a chance that a justice can step down from their post, both Thomas and Alito have been institutions on the court for years.Thomas was nominated to the court by Republican President George H.W. Bush and has served on the body since 1991. Meanwhile, Alito was nominated by Republican President George W. Bush and took his seat on the court in 2006.There's no indication that either man is retiring from the bench. But Republicans will be in the driver's seat to make an appointment should either man step down over the next four years.Peter Loge, an associate professor and the director of the School of Media and Public Affairs at George Washington University, told Business Insider that Thomas is a figure who might step down."If I'm Clarence Thomas, I'm thinking now is a good time to retire," he said. "He's been on the court for a long time. His legacy is frankly mixed at this point between his wife's involvement with the insurrection in 2020 and his ongoing ethics scandal."(Thomas has faced a wave of criticism after <a target="_blank" href="https://www.propublica.org/article/clarence-thomas-scotus-undisclosed-luxury-travel-gifts-crow">ProPublica in April 2023 published</a> a report that detailed how he had taken luxury vacations funded by the billionaire mega donor Harlan Crow — and had not disclosed the trips.)<h2 id="e08ad357-0202-444a-9550-87693e9d2b8c">Or the court's makeup could stay the same</h2>While Trump will surely want to make another Supreme Court appointment, his ambitions may not necessarily align with the feelings of the justices themselves.<div type="image" title="Clarence Thomas" height="1080" width="1920" msid="115031465" hostid="261" sizebytes="62842"></div>Carl Tobias, a professor at the University of Richmond School of Law, told BI that it's far from a given that any particular judge — even one with a like-minded political ideology — will step down because of Trump's election."I think they're independent-minded and they're not just going to resign because of Trump," he said. "They like what they're doing."Tobias also noted that <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">the extent</a> of the GOP's Senate majority — which is still up in the air — could make a big difference in what kind of jurist could actually win confirmation."Best-case scenario it may be 55-45 but more like 52-48 or something like that," he said of the eventual Republican Senate makeup. "So they're not going to be able to do everything they want, and there are people like Lindsey Graham and [Susan] Collins and [Lisa] Murkowski who may not go along on someone that's too crazy."<h2 id="b2c291bb-c313-447a-9514-9937c508fb69">Sweeping reforms won't occur</h2>Many top Democrats have long eyed changes to the Supreme Court, whether it be expansion or some sort of ethics reform.Biden this year laid out a plan to institute a <a target="_blank" class="" href="https://www.businessinsider.com/how-the-supreme-court-has-lost-its-legitimacy-2024-10">binding code of conduct</a> for the court and create 18-year term limits for justices. He also wanted to see lawmakers pass a constitutional amendment that would limit presidential immunity.But with Trump soon to be back in the White House and a Republican-led Senate on the way, those plans are on ice indefinitely.The GOP sees the current composition of the court as the fruit of decades of work to ensure a conservative tilt. Leaders like Sen. Mitch McConnell of Kentucky over the years have criticized Democratic attempts to reform the court/McConnell played a leading role in blocking the 2016 nomination of <a target="_blank" class="" href="https://www.businessinsider.com/senate-confirms-merrick-garland-attorney-general-2021-2">Merrick Garland</a> — now the US Attorney General — to the Supreme Court. At the time, the Kentuckian was the Senate's majority leader, and a fierce opponent of then-Democratic President Barack Obama.During a Wednesday press conference in Washington, McConnell reveled in Republicans flipping the Senate."One of the most gratifying results of the Senate becoming Republican: the filibuster will stand, there won't be any new states admitted that will benefit the other side," he said. "And we'll quit beating up the Supreme Court."

What Trump's victory means for the Supreme Court

<ul class="summary-list"><li>Kremlin officials and allies welcomed Donald Trump's 2024 election win.</li><li>Dmitry Medvedev, a former Russian president, said it was bad news for Ukraine.</li></ul>Kremlin officials and allies celebrated as <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Donald Trump closed in</a> on victory in the 2024 election.In a <a target="_blank" class="" href="https://t.me/s/medvedev_telegram">post</a> on Telegram on Wednesday, Dmitry Medvedev, a former Russian president and senior security official, said that Trump's win was bad news for Ukraine."<a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">Trump</a> has one useful quality for us: as a businessman to the core, he mortally dislikes spending money on various hangers-on and stupid hanger-on allies, on bad charity projects and on voracious international organizations," Medvedev said.The US has given Ukraine<a target="_blank" rel="" class="" href="https://www.state.gov/u-s-security-cooperation-with-ukraine/#:~:text=To%20date%2C%20we%20have%20provided,invasion%20of%20Ukraine%20in%202014."> $64.1 billion</a> in military assistance since the 2022 Russian invasion. On the campaign trail, Trump repeatedly questioned the aid.<a target="_blank" class="" href="https://www.businessinsider.com/ex-russian-president-medvedev-became-key-warmonger-since-ukraine-invasion-2023-1">Medvedev</a> said that Ukraine was likely among the projects Trump wouldn't want to spend money on and said Ukraine's leaders would be trying to console themselves.<div type="image" title="Dmitry Medvedev wearing red sunglasses and a suit." height="2673" width="3564" msid="115021261" hostid="261" sizebytes="263246"></div>But he also questioned how much Trump would be able to change the dynamics of US policy toward Ukraine."The question is how much Trump will be forced to give to the war. He's stubborn, but the system is stronger," said Medvedev.Meanwhile, Kirill Dmitriev, the head of Russia's sovereign wealth fund, said a Trump victory could help improve Russia's relationship with the US."Their convincing victory shows that ordinary Americans are tired of the unprecedented lies, incompetence, and malice of the Biden administration," said the former Goldman Sachs banker, <a target="_blank" class="" href="https://nypost.com/2024/11/06/world-news/russia-floats-idea-of-reset-with-united-states-after-trump-declares-victory/">reported Reuters.</a>"This opens up new opportunities for <a target="_blank" class="" href="https://www.businessinsider.com/trump-relationship-putin-back-to-us-woodward-book-ukraine-russia-2024-10">resetting relations between Russia and the United States</a>."Ukraine's President Volodymyr Zelenskyy congratulated Trump on his "impressive election victory" and said he hoped that the Republican would play a key role in ending the war. <h2 id="5e56143a-b283-4342-8434-f82d259dc65d">Resetting relations</h2>The Kremlin's official reaction to Trump's win was more muted than that of some Russian officials, with spokesman Dmitry Peskov describing the election as an "internal US matter.""We are unaware of any [Russian President Vladimir] Putin plans to congratulate Trump on his win," Peskov said.Despite the understated response from the Kremlin, there are indications that the Russian leadership has long favored a Trump victory in the election.US intelligence agencies during the election said that Russia was behind disinformation campaigns apparently designed to discredit Democratic candidate Kamala Harris.<div type="image" title="Kirill Dmitriev, CEO of the Russian Direct Investment Fund" height="632" width="1024" msid="115021260" hostid="261" sizebytes="29072"></div>In July, Russian government sources told <a target="_blank" class="" href="https://www.themoscowtimes.com/2024/07/04/kremlin-officials-wishing-for-a-trump-victory-while-claiming-otherwise-a85601">The Moscow Times </a>that the Russian leadership was privately rooting for Trump in the election.Trump has also been open about his admiration for Russian President Vladimir Putin.He continued to praise Putin for being <a target="_blank" rel="" href="https://www.businessinsider.com/trump-praised-smart-putin-us-stupid-country-2022-2">"smart" </a>and<a target="_blank" rel="" href="https://www.businessinsider.com/donald-trump-vladimir-putin-ukraine-invasion-justification-genius-savvy-2022-2"> "genius"</a> after he began his unprovoked invasion of Ukraine. He has also said he would be able to swiftly negotiate a peace deal between Ukraine and Russia.Though he's offered few details on how, a peace plan suggested by his running mate, JD Vance, on a podcast <a target="_blank" rel=" nofollow" class="" href="https://thehill.com/opinion/international/4884798-the-trump-vance-plan-for-ukraine-is-insane/">in September indicates </a>that it'd involve Ukraine ceding the territory Russia holds and pledging neutrality.Ahead of Trump's declared victory, a Russian foreign ministry spokesperson sent a coded message of congratulations."They win who live by love for their country, and not by hatred for foreigners," Maria Zakharova wrote on <a target="_blank" class="" href="https://t.me/MariaVladimirovnaZakharova/9138">Telegram</a>.<h2 id="2f9b532d-c79a-45d6-952b-2522bc8e960a">There's reason to be wary</h2>The reaction to Trump's victory from Russian state TV host and Kremlin propagandist Olga Skabeyeva was openly celebratory."Wow! Our congratulations! 47th president of the US", she <a target="_blank" class="" href="https://t.me/skabeeva/32382">posted on Telegram, after Fox News called the election for Trump early Wednesday.</a>However, during his term in office, Trump's praise for Putin wasn't always translated into action.The Republican, for example, sold Ukraine anti-tank weapons that Democratic Party President Barack Obama had refused to provide in one of a series of moves that did little to reduce tensions between Moscow and Washington, DC.Russia-US relations are now so poor that some insiders question whether Trump will change the dynamic."Of course they want Trump — that's clear — but the result of this election will not be a game changer for Russia," a former Kremlin official who still operates in government circles told <a target="_blank" class="" href="https://archive.is/VF8fp#selection-941.0-941.386">The Washington Post</a>."The situation has become truly terrible. US-Russian relations are in deadlock. And everyone is a hostage of it — even Putin."

Putin's allies celebrated as Trump closed in on victory

<ul class="summary-list"><li>Donald Trump's election victory is impacting Ukraine even before he takes office again in January.</li><li>Trump has criticized US aid to Ukraine and has suggested he'd strike a deal with Russia.</li></ul>President-elect Donald Trump's election win has prompted a flurry of reactions around the world that are already having an impact on the war in Ukraine.Trump, a <a target="_blank" class="" href="https://www.businessinsider.com/trump-says-us-is-giving-ukraine-too-much-money-renews-nato-criticism-2023-1">frequent critic of US aid to Ukraine</a>, won't take over the White House until January 20, 2025. But his imminent return has sparked a rush of aid to Ukraine, a greater emphasis on finding ways to end the war quickly, and new conversations between countries most engaged in the conflict.President Joe Biden, a strong supporter of Ukraine, has sought to rush additional aid to Ukraine before Trump takes office. Secretary of State Antony Blinken said last week that Biden "has committed to making sure that every dollar we have at our disposal will be pushed out the door" before that date in January.As Business Insider previously <a target="_blank" class="" href="https://www.businessinsider.com/trumps-win-clocking-ticking-on-ukraine-aid-2024-11">reported</a>, over $6 billion in US assistance to Ukraine remains from April's foreign aid package.Meanwhile, over the weekend Biden gave Ukraine permission to <a target="_blank" class="" href="https://www.businessinsider.com/biden-ukraine-russia-atacms-authorization-2024-11">use the long-range missiles it's supplied to strike inside Russia</a>, according to multiple reports.That restriction has been <a target="_blank" class="" href="https://www.businessinsider.com/biden-officials-have-ukraine-fighting-russia-hand-tied-behind-back-2024-5">a major hindrance to Ukraine</a>, warfare experts said, preventing it from going after the source of Russian attacks and leaving it instead to have to try to stop each attack as it comes in.<div type="image" title="A missile is fired from a grassy beach against an overcast sky." height="2864" width="4584" msid="115420033" hostid="261" sizebytes="494906"></div>The new ability to strike targets inside Russia should boost Ukraine's battlefield effectiveness, but the long wait gave Russia plenty of time to prepare and to move its aircraft out of potential range.Meanwhile, world leaders have reacted to Trump's imminent return to office by renewing efforts to end the fighting, in ways that have been resisted in the past.Turkish President Tayyip Erdoğan, who has <a target="_blank" class="" href="https://www.businessinsider.com/turkeys-erdogan-power-player-ukraine-war-russia-climbdown-2022-11">positioned himself</a> as a power player in the conflict, will present a plan to freeze the war when meeting G20 leaders in Brazil on Monday, people familiar with the matter <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-17/ukraine-war-latest-allies-are-leaning-on-zelenskiy-for-a-way-to-end-the-war?embedded-checkout=true">told Bloomberg.</a>Erdoğan's plan involves Ukraine agreeing not to discuss joining NATO for 10 years, the sources said.Two European officials also told Bloomberg that there is increasing recognition in Europe that Ukrainian President Volodymr Zelenskyy will have to compromise with Russian President Vladimir Putin, because neither country has shown that it can comprehensively win on the battlefield.German Chancellor Olaf Scholz had a call with Putin on November 15, in what Reuters <a target="_blank" class="" href="https://www.reuters.com/world/europe/putins-views-ukraine-war-havent-changed-germanys-scholz-says-2024-11-17/">described</a> as their first direct communication in almost two years.A German government spokesperson said Scholz "urged Russia to be prepared to negotiate with Ukraine with the aim of achieving a just and lasting peace," Politico reported.<div type="image" title="German Chancellor Olaf Scholz addresses a joint press conference with Ireland's Prime Minister following talks at the Chancellery in Berlin on February 22, 2022. (Photo by John MACDOUGALL / POOL / AFP) (Photo by JOHN MACDOUGALL/POOL/AFP via Getty Images)" height="1331" width="2000" msid="115420034" hostid="261" sizebytes="172552"></div>According to the Associated Press, Putin <a target="_blank" class="" href="https://www.pbs.org/newshour/world/german-chancellor-scholz-spoke-to-putin-for-first-time-in-2-years-to-push-ukraine-peace-talks">said</a> that any peace deal must acknowledge the territory Russia has taken and Russian demands, like Ukraine not joining NATO.Zelenskyy <a target="_blank" class="" href="https://www.president.gov.ua/en/news/minska-3-ne-bude-nam-potriben-realnij-mir-zvernennya-prezide-94433">said</a> in his nightly address on Friday that this kind of communication is "exactly what Putin has wanted for a long time."He said Putin wants to "weaken his isolation" and said that "ordinary negotiations" would lead to nothing.Zelenskyy has previously said that he is open to ending the war through diplomatic means but <a target="_blank" class="" href="https://www.newyorker.com/news/the-new-yorker-interview/volodymyr-zelensky-has-a-plan-for-ukraines-victory">warned</a> that Russia does not want to end the war on what he described as "any reasonable terms."Ukraine has repeatedly rejected the idea of giving up territory.(Trump has previously <a target="_blank" class="" href="https://www.businessinsider.com/ukraine-soldiers-react-trump-election-win-war-russia-military-aid-2024-11">suggested that he would try to strike a deal that would involve giving up some Ukrainian territory</a>.)Even so, Zelenskyy has spoken more frequently on the possibility of a deal, suggesting he's under some pressure from Ukraine's allies.Zelenskyy told Ukrainian broadcaster Suspilne on Saturday that he believes Trump's reelection as president will mean the conflict ends "faster."He also said that Ukraine must do everything it can to end the war through diplomatic means, but that he doesn't believe Putin actually wants peace.<div type="image" title="Trump n Putin" height="820" width="1024" msid="115420032" hostid="261" sizebytes="31598"></div>Zelenskyy told Suspilne that for Ukraine to take part in negotiations, it must be able to remain "strong" and "not alone with Russia," per the Kyiv Independent's <a target="_blank" class="" href="https://kyivindependent.com/we-must-do-everything-to-end-this-war-next-year-through-diplomatic-means-zelensky-speaks-on-negotiations-war/">translation</a>."I don't think Putin wants peace at all" he added. "But this does not mean that he does not want to sit down with one of the leaders."Zelenskyy said this would destroy the political isolation that has built around Putin since the start of the war. "And it benefits him to sit down, talk, and not reach an agreement," Zelenskyy said.Despite all this movement, Trump has not signaled his own plan as yet, and there is uncertainty over what he will ultimately decide to do regarding Ukraine.Many European nations have vowed to continue supporting Ukraine, though the job would be much tougher without the US' contributions.There is also some optimism in Ukraine, as well as among Ukraine's European allies and warfare experts, that the changes Trump brings in could be in Ukraine's interest, compared to the slow drip of aid that has happened under Biden.But, as The Wall Street Journal <a target="_blank" class="" href="https://www.wsj.com/world/europe/trumps-push-for-ukraine-peace-finds-growing-acceptance-in-europe-8252f368">reports</a>, there are concerns that the Trump administration won't give Ukraine much of a say in what a peace deal could look like, and which of Russia's demands Trump might accept.What is clear, however, is that Trump's reelection is already having a strong impact on how countries are thinking about the war.

Trump's victory has already prompted a realignment on Ukraine

<ul class="summary-list"><li>Donald Trump's win is reducing uncertainty, boosting some employers' confidence about posting jobs.</li><li>Hiring experts anticipate a "Trump bump" for now despite concerns over tariffs and immigration.</li></ul>If you've been <a target="_blank" href="https://www.businessinsider.com/finding-job-awful-right-now-drop-in-openings-tough-search-2024-9">looking for a job</a> and haven't had any luck, that could be about to change.<a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Donald Trump's decisive win</a> ends some uncertainty about the broad direction of the US — and extinguishes worries that there will be a drawn-out fight over the outcome.Executives focused on hiring told Business Insider that the newfound clarity is already making some employers more willing to post jobs."Our phone was basically ringing off the hook with companies looking to hire," Lief Larson, CEO of Salesfolks, a staffing firm focused on sales roles, told BI. "Regardless of your political persuasion, there is no doubt that the market is anticipating a Trump bump."Knowing who will occupy the White House is a help to employers, employment experts told BI, even as questions remain about the fallout from a potential <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariff-threat-john-deere-economists-baffled-2024-9">increase in tariffs</a> or a reduction in immigration."Having the uncertainty behind us will prompt many — and encourage many — to start looking at increasing hiring," Tim Glowa, founder and CEO of HRbrain, which develops artificial intelligence tools for human resources, told BI.<h2 id="931ab304-0c3f-4e07-9067-9bcae5537e6c">Demand in tech</h2>It also helps that in the fourth quarter, some employers push to bring on people before the end of the year. Others prepare job descriptions to go up in January, said Michelle Volberg, a longtime recruiter who's founder and CEO of <a target="_blank" href="https://www.withtwill.com/">Twill</a>, a venture-backed startup that pays tech workers to recommend peers for key jobs."We're seeing a pretty healthy number of roles planning to be posted in January, probably more than we even expected," Volberg told BI. Volberg said she's seen an "upward trend" in the past 12 months that's now continuing."I don't see anything currently on the horizon that will challenge the US economy in any way," Volberg said.She said some of the demand is in tech, particularly from companies focused on AI looking to hire in engineering, product, sales, and marketing.That's welcome news because while the overall US unemployment rate remains low, some tech firms have been cutting in some roles and <a target="_blank" href="https://www.businessinsider.com/meta-job-cuts-indicate-tech-companies-like-recurring-layoffs-2024-10">slow to hire</a> in other areas — much to the <a target="_blank" href="https://www.businessinsider.com/job-seeker-applied-more-than-2000-roles-2024-9">frustration of job seekers</a>.Kathleen Lin Hurtubise, CEO and founder of Aloha Hospitality Professionals, a staffing firm focused on hospitality and light industrial workers, told BI that uncertainty over tax and immigration policies had led some of the company's customers to wait out the politics."We had a handful of clients who put us on pause until the elections," she said. Many employers, Hurtubise said, wanted to know how business decisions they had already made would likely play out once it became clear who would take the White House.<h2 id="11219916-ac03-49a8-ae71-be52cee6d5bf">More employers could turn to automation</h2>Jason Leverant, COO and president at AtWork Group, a staffing firm focused on areas including advanced manufacturing, logistics, and warehousing, told BI that a focus on bringing manufacturing jobs back to the US — so-called <a target="_blank" href="https://www.businessinsider.com/us-manufacturing-production-boom-economy-made-in-america-trade-war-2024-10">reshoring efforts</a> that are already underway — could further help boost momentum in hiring for workers <a target="_blank" href="https://www.businessinsider.com/employers-dropping-degree-requirements-slow-to-hire-for-skills-2024-10">without college degrees</a>.Yet, Leverant said, reshoring could be more expensive for employers and, when combined with talent shortages, could push more <a target="_blank" href="https://www.businessinsider.com/ai-wont-take-as-many-jobs-as-feared-altman-2024-9">companies to automate</a> where possible.Reduced immigration could also harm industries like construction and agriculture, where immigrants often fill many roles, he said."Do we start seeing a skills gap or a talent gap there?" Leverant said. He said such a chasm could eventually push wages higher in those areas if employers grow desperate for workers.Leverant said a focus by some in Trump's inner circle, including Tesla CEO Elon Musk, on areas like workplace <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-optimus-humanoid-robots-robotaxi-day-2024-10">automation</a> could mean as some aspects of jobs go away, workers who get the right training could take on "more complex roles that even advanced robotics can't touch right now."<h2 id="efdae223-ce1f-4c24-b0c3-4c4f63bde68d">A postelection rush to hire</h2>Aaron Cleavinger, a managing partner at Murdoch Mason Executive Search Group, told BI that he's been "inundated" with new search requests from clients since the election.He said that likely reflects a mix of the typical end-of-year ramp-up and also several months' worth of demand by employers, particularly in areas like manufacturing, that held off posting jobs because of political uncertainty."Anything that they've been delaying for the last couple of months, they're finally releasing," Cleavinger said, referring to employers and job postings.Cleavinger said that in many cases, employers might have been agnostic about which candidate won and instead just wanted to know which way it would break."They say, 'Hey, just tell me what I can count on, and then I can build a plan around that,'" he said.Cleavinger said demand for hiring will vary by industry, as it often does. Yet he said for small and medium-sized companies, optimism that there could be tax cuts could help boost budgets for hiring.<h2 id="dfe0f4e6-90ea-4cf9-bd4f-582908e761ca">Obstacles could emerge</h2>Even as some employers look to increase hiring, getting — and keeping — a job might get harder for some workers. Peter Rahbar, an employment attorney and founder of the boutique law firm The Rahbar Group, told BI that he expects to see an erosion of protections afforded to federal workers, including those seeking jobs.If enforcement of antidiscrimination laws becomes deprioritized, Rahbar said, that could make it harder for some people, including women and minorities, to land and retain jobs.Rahbar said reductions to immigration could hurt industries beyond agriculture and construction, including tech. That's because some tech companies needing workers rely on skilled immigrants to fill some roles.For now, though, Cleavinger, from Murdoch Mason Executive Search Group, expects demand for workers will generally heat up."I expect a pretty significant uptick in hiring. We usually see that anyway at the end of the year, but I think it'll be a little more pronounced now," Cleavinger said.

What Trump's election victory means for job seekers

<ul class="summary-list"><li>The 2024 election may have shown the mainstream media is losing its grip on political commentary.</li><li>Podcasts and social media platforms offered politicians authenticity and a wider audience reach.</li></ul>The campaigns in this year's<a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-kamala-harris-election-biggest-moments-photos-2024-10"> presidential election</a> have shone a light on the waning influence of mainstream media.From <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-joe-rogan-tony-hinchcliffe-rally-election-campaign-2024-10">podcasts</a> and gaming streams to <a target="_blank" class="" href="https://www.businessinsider.com/substack-using-irl-events-with-creators-to-boost-engagement-2024-10">Substacks</a> and TikTok debates, politicians have moved their fight to new media battlegrounds.The shift has been ongoing for nearly a decade, but legacy outlets are now facing a fresh wake-up call."No longer the gatekeepers, their days of controlling the news and information flow are over," said Brett Spencer, a senior lecturer in podcasting at City St George's, University of London.<h2 id="ce06de97-4cb8-411d-bb62-c1824a6be9e9">Trump vs. Harris online</h2>This election cycle, Trump familiarized himself with streamers' fanbases, particularly in the community known as the Manosphere, which is made up of creators who share anti-feminist and right-wing beliefs.He appeared on Joe Rogan's podcast and talked with him for three hours.The interview, which aired on October 26, gained 26 million views within 24 hours, <a target="_blank" href="https://www.newsweek.com/joe-rogans-donald-trump-episode-racks-26-million-views-first-24-hours-1975512">Newsweek</a> reported. It has reached 45.9 million views at the time of writing.The figures would have exceeded "the reach of any sit-down interview with a news anchor on any of the main news networks," said Paul Reilly, a senior lecturer in communications, media, and democracy at the University of Glasgow.Rogan also endorsed Trump on X on November 5 with a video featuring Elon Musk making "the most compelling case for Trump you'll hear," he said while lamenting a perceived suppression of free speech by the mainstream media. It amassed 47 million views.In the other camp, Harris appeared on Alex Cooper's podcast, "Call Her Daddy," and Kamala HQ leaned into the memes and trends on TikTok and Instagram, such as "Kamala IS brat."Brandon Harris, a professor at the Journalism and Creative Media department at the University of Alabama, told BI that "there is a sense of synchronous interaction" with podcasts and platforms such as Twitch, which gives them an air of authenticity."You're seeing much more of a full conversation than in a lot of other media formats, especially for politicians who are typically kept in very controlled media environments," Harris said.<h2 id="d6d55a8a-4e7b-4f0f-9b41-a450668d9c7b">A fragmented media landscape</h2>Trump and Harris' campaigns reflected a media landscape that has never been more fragmented.Fourteen percent of US adults in a September 2023 <a target="_blank" href="https://www.pewresearch.org/short-reads/2023/11/15/more-americans-are-getting-news-on-tiktok-bucking-the-trend-seen-on-most-other-social-media-sites/?utm_source=AdaptiveMailer&amp;utm_medium=email&amp;utm_campaign=23-11-15%20Package:%20Social%20&amp;%20News,%20News%20Platform%20Fact%20Sheets%20GENERAL&amp;org=982&amp;lvl=100&amp;ite=12925&amp;lea=2929728&amp;ctr=0&amp;par=1&amp;trk=a0DQm000000a5CTMAY">survey from the Pew Research Center</a> said they regularly get news from TikTok, up from 3% in 2020.Among 18- to 29-year-olds, that number jumped from 9% to 32%.Meanwhile, <a target="_blank" href="https://www.edisonresearch.com/wp-content/uploads/2024/06/Infinite-Dial-2024-Presentation.pdf">Edison Research's Infinite Dial Report</a> found that 59% of Americans between the ages of 12 and 34 listened to podcasts in January 2024, up 4% from the previous year.While mainstream media outlets are establishing growing audiences on apps like TikTok, young people still tend to get their news from influencers and non-legacy media accounts.Many of these accounts were providing entertaining and confident commentary during the election, while some mainstream media outlets wrestled with their endorsements, sparking controversy over journalistic integrity and ownership.<h2 id="03691976-345d-4317-adb2-737135336197">It's a risk.</h2>The podcast and stream appearances made Trump "relatable" to voters — more so than in legacy media appearances such as televised debates. In other words, what worked in Trump's favor was knowing his audience.However, with the rise in alternative media comes the danger of audiences falling into a bubble and becoming more extreme in their beliefs. There's also a risk of a rise in fake news and partisan commentary."It means fewer debates, it means fewer big-ticket interviews with qualified journalists who push back," said Jessica Coen, the senior vice president of content at the Gen Z-focused media company The News Movement. "You can argue that there's a public cost to that."Jess Rauchberg, a researcher on digital media cultures, agreed that mobilizing in this way has its downsides."It makes me a little bit nervous about what this says about American media literacy and global media literacy," she said. "We are turning to creators who are maybe not trained as journalists or don't have a background in politics."Doug Eldridge, founder of Achilles PR agency, told BI that legacy media outlets will use the election to reassess their next steps."Reputation is the hardest thing to build and the easiest thing to destroy," Eldridge said."The days of scripted, edited, three-minute interviews are over; long-form, unedited, three-hour conversations are the future," he added. "Much like the dinosaurs, the legacy media will either adapt or become extinct."

Trump's victory shows the flagging influence of mainstream media

<ul class="summary-list"><li>Donald Trump has won the US presidency in sweeping fashion.</li><li>His proposed policies, particularly wide-reaching tariffs, are expected to have a major impact on consumers.</li></ul>Now that <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Donald Trump has been declared the winner</a> of the 2024 election, American consumers are on the lookout for what a Trump 2.0 presidency will mean for their finances.From investment portfolios to childcare costs, there could be substantial changes. Central to Trump's overall platform is his plan to enact tariffs on nearly all US imports, which is seen as driving inflation higher.Detailed below are five categories — investments, overall costs, housing, taxes, and childcare — that US consumers can expect to feel impacted by a new Trump regime.<h2 id="d30df8a9-d8f0-4701-8583-83a332628411"><a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">Investments</a></h2>Trump's plan to cut the corporate tax rate is generally viewed as bullish for earnings, particularly for the consumer-discretionary, communication-services, and financial sectors. However, his plan to tax all US imports is viewed as a headwind that could be inflationary and hit consumer spending.If those inflation worries come true, interest rates would be higher and push bond prices lower. Trump is also seen as bullish for crypto, and his protectionist policies are viewed as likely to push the dollar higher.These moves played out after Trump secured victory, with the so-called <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">Trump trade soaring</a>: stocks, Treasury yields, dollar, and bitcoin moved sharply higher.<h2 id="9fffe11a-9455-431b-baef-03c634fbeb2b"><a target="_blank" rel="" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">Costs</a></h2>Trump's plan to impose a broad-based 10%-to-20% tariff on most goods brought in from other countries — and as much as 60% on Chinese imports — is widely viewed as making import-reliant products more expensive. Major categories with high potential tariff exposure include automobiles, drugs for human and veterinary use, food and beverage, furniture, and household appliances.Relatedly, the former president has previously said he'll lower grocery prices by restricting food imports to bolster domestic producers.<h2 id="3a8b1c41-e43c-4dca-b716-d8a1ee2acef2"><a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">Housing</a></h2>Trump said on the campaign trail that the ongoing housing shortage could be addressed by deporting millions of people from the country. The newly elected president has also said he could decrease demand by banning mortgages for immigrants living in the US illegally.During his previous White House tenure, Trump opposed the construction of high-density housing in single-family-zoned areas, although did not say during this election cycle whether he wants to continue pursuing similar policies.Further, if Trump's presidency is inflationary and leads to interest-rate hikes, that would hit housing affordability in the form of higher mortgage rates, which track the Fed's benchmark.<h2 id="b0d6cc09-dd6b-4d2e-9216-5c8ecbcfa7e0"><a target="_blank" rel="" class="" href="https://www.businessinsider.com/tax-cut-tariff-plan-outlook-presidential-election-scenarios-harris-trump-2024-10">Taxes</a></h2>Trump has proposed lowering the corporate tax rate from 21% to 15% for firms that make their products in the US.The former president has also said he plans to extend his slew of tax cuts from the Tax Cuts and Jobs Act of 2017 — also known as the "Trump tax cut."A permanent continuation of the TCJA's income-tax provisions would amount to a nearly $280,000 tax cut for the top 0.1% of earners, compared to $1,000 for middle-income Americas, a Tax Policy Center analysis found. Trump's plan for universal tariffs is seen as offsetting a positive tax impact and would be especially costly for lower-earning Americans.<h2 id="2804ce0e-fc32-40e9-803e-c53a6b31f02b"><a target="_blank" rel="" class="" href="https://www.businessinsider.com/childcare-costs-presidential-election-scenarios-parents-paid-leave-harris-trump-2024-10">Childcare</a></h2>Trump has proposed expanding the child tax credit, which currently provides up to $2,000 per child. In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels.In addition, while previously in office, Trump signed a bipartisan bill that provided federal employees with 12 weeks of paid parental leave, although he didn't emphasize the issue on the 2024 campaign trail.

How Trump's election victory will impact your wallet

<ul class="summary-list"><li>The Soviet Union's strategy that precipitated the US exit from Vietnam holds lessons for Ukraine. </li><li>The Soviets and Chinese provided Vietnam with weapons that negated the US's airpower advantage.</li></ul>Ukraine can defeat Russia if it and its Western backers learn from America's failure in the Vietnam War, a Ukrainian security expert argues.That war has parallels with Ukraine's fight today. The North Vietnamese thwarted vastly superior American firepower with strategies backed by massive Soviet and Chinese military aid. They are a playbook for how Ukraine might compel Russia to <a target="_blank" href="https://www.businessinsider.com/trump-advisors-peace-plans-ukraine-demilitarized-zone-no-aid-russia-2024-11">make peace</a> within two years, argues Oleksandr Danylyuk, a former top Ukrainian security official and now an analyst for the Royal United Services Institute, a British think tank."The example of the Vietnam War is important primarily because victory for Ukraine is possible only if Russian troops are withdrawn from its territory," Danylyuk said in an <a target="_blank" href="https://rusi.org/explore-our-research/publications/rusi-newsbrief/lessons-vietnam-ukrainian-victory-plan">essay</a> for RUSI. "The creation of conditions under which Russia cannot and is not willing to continue the war, and therefore is forced to leave Ukraine, should be the strategic goal of the pro-Ukrainian coalition."Danylyuk attributes America's failure in Vietnam to a "protracted multi-dimensional strategy by the Soviet Union, on whose help it was completely dependent." The Soviet Union and China supplied Hanoi with ample weapons and other aid, including anti-aircraft weapons to neutralize the US's airpower advantages. The Soviets sent 15,000 military specialists such as air defense experts, while <a target="_blank" href="https://www.washingtonpost.com/archive/politics/1989/05/17/china-admits-combat-in-vietnam-war/6b9cb8a4-4d18-48bf-80d2-bea80f64057c/">China dispatched 320,000 personnel</a> who mostly handled combat support tasks such as logistics, freeing up North Vietnamese manpower for combat duties.Meanwhile, the burden of the war US economy became intolerable, as the Johnson administration refused to raise taxes or cut social programs, leading to deficit spending and inflation. <a target="_blank" href="https://www.businessinsider.com/largest-marches-us-history-2017-1">Anti-war protests</a> — some incited and financed by the Communist bloc — and war-weariness among the general public led the Nixon administration to withdraw American troops. By the time North Vietnamese tanks entered Saigon in 1975, the US was reeling from recession and high oil prices, with no more appetite to aid South Vietnam.Danylyuk admits that <a target="_blank" href="https://www.businessinsider.com/ukraine-facing-powerful-russian-offensive-in-east-grim-outlook-2024-11">Ukraine's situation</a> differs from North Vietnam's in many aspects. "It does not need the presence of allied troops to repel aggression, is not a technologically backward country, and has proven that it cannot only use, but also produce the most modern types of weaponry."Yet, ironically, Danylyuk believes that the keys to defeating Russia's invasion now can be found in the Soviet Union's multi-pronged strategy in Vietnam.<div type="image" title="US Marines wade through a rice paddy in an assault on Viet Cong positions in 1965." height="1383" width="2000" msid="115358659" hostid="261" sizebytes="304174"></div>The first prong of this strategy would be to "stabilize the frontline and to render any successful offensive actions by Russian troops impossible." This would require stopping the Russian <a target="_blank" href="https://www.businessinsider.com/ukraine-turns-tables-russia-drops-glide-bombs-on-its-territory-2024-8">glide bomb</a> attacks that are devastating Ukrainian frontline positions. Rather than trying to stop the bombs themselves, Danylyuk suggests the West provide more fighters armed with long-range air-to-air missiles — in particular <a target="_blank" href="https://www.businessinsider.com/why-ukraine-needs-gripen-fighter-jets-long-term-f-16s-2024-10">Sweden's Gripen jet</a> with Meteor missiles — to shoot down Russian aircraft before they can release glide bombs. His paper notes that the Soviets provided Vietnam 155 MiG fighters in three years alone.Or, if the West is willing to provide "several billion dollars," Ukraine can produce enough long-range <a target="_blank" href="https://newsukraine.rbc.ua/news/romania-and-ukraine-to-develop-neptune-missiles-1722693809.html">Neptune cruise missiles</a> to destroy the Russian airbases and aircraft from which the bombing runs are launched. These weapons would also force Russia to redeploy air defense systems, such as S-300 and <a target="_blank" href="https://www.businessinsider.com/russia-s-400-formidable-not-quite-up-to-the-hype-2024-5">S-400</a> anti-aircraft missiles, from Ukraine back to Russia. In addition, Ukraine should also try to kill as many Russian troops as possible to force the Kremlin into another mobilization likely to be deeply unpopular. "Accomplishing this task directly depends on Ukraine's ability to achieve fire parity on the contact line, which requires the West, in turn, to produce a sufficient amount of artillery ammunition," Danylyuk said.In 1965, when major US combat operations in Vietnam began, the majority of the American public <a target="_blank" href="https://www.statista.com/statistics/1334328/vietnam-war-us-public-opinion-mistake/">backed </a>US intervention. But a US commitment that swelled to 543,000 personnel by 1969, along with growing resentment over the draft and 58,000 American personnel killed, eroded that support.On the economic front, Danylyuk urges the West to bankrupt the Russian war effort by seeking to lower the price of oil, which provides much of Russia's revenues. He points to the collapse of the Soviet Union, caused in part by falling oil prices in the 1980s. This would require other nations to boost oil production to depress prices."It must be recognized that attempts to apply restrictions on the price of Russian oil alone have not worked, and without replacing Russia's share of the world market by increasing production elsewhere, the situation will remain favorable for Moscow," said Danylyuk. Indeed, Saudi Arabia and some of its OPEC allies plan to <a target="_blank" href="https://oilprice.com/Energy/Crude-Oil/How-Saudi-Oil-Policies-Could-Cripple-Russias-War-Effort.html">produce more oil</a> and cut prices.Psychologically, the West should tap into Russian <a target="_blank" href="https://www.businessinsider.com/russians-resisting-crackdown-war-dissidents-paying-2024-3">anti-war sentiment</a> — heavily suppressed by Vladimir Putin's government, but still simmering. "The only explanation for the lack of a mass anti-war movement and large-scale protests is the absence of an organized and popular opposition in Russia," Danylyuk said. "Under such conditions, there is no alternative to providing organizational and financial support for such a movement from the outside."Danylyuk's plan is ambitious, to say the least. Compelling Russia to make peace on the battlefield seems unlikely at least in the short term, as Russian forces advance slowly, <a target="_blank" href="https://www.businessinsider.com/russia-lost-1200-a-day-highest-since-war-began-intel-2024-5">painfully</a> but inexorably. Whether Saudi Arabia and other oil producers would choose to depress oil prices in the long term remains to be seen. Banking on the Russian public's anti-war sentiment is chancy, given the intense repression and propaganda of Putin's government.But the alternative is even worse, Danylyuk warns. Without a strategy to force Russia to <a target="_blank" href="https://www.businessinsider.com/what-trump-picks-mean-for-ukraine-skepticism-time-pressure-2024-11">end the war</a>, the outcome will be to "exhaust Ukraine and the West and allow Russia to implement its own multidimensional plan to end support for Ukraine, according to which Kyiv would be added to the list of cities that have become symbols of the West's geopolitical defeats: Kabul and Saigon."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

America's defeat in Vietnam offers a game plan for Ukrainian victory  

<ul class="summary-list"><li>Astrology TikTok creators predicted a Harris win, and they're now facing questions.</li><li>Astrology fans feel betrayed, questioning the credibility of their trusted creators.</li></ul>The astrology community on TikTok is mighty, but trust in the stars has wavered over the past week.Many popular astrology creators predicted that <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-blue-wall-democrats-suburban-voters-unions-2024-11">Kamala Harris </a>would win the 2024 election. However, when <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-tesla-spacex-x-department-government-efficiency-jobs-2024-11">Donald Trump </a>was elected for a second term, they were faced with tough questions over their credibility.Jess Rauchberg, a researcher on digital media cultures, told Business Insider that some fans felt that "the rug's been pulled out from underneath them.""I placed my trust in you as a follower, and I trusted your brand, but your brand is no longer credible," she said. "You see people who are really, really frustrated and who feel betrayed."<h2 id="5bb9fa96-a9d1-4218-910b-572d415dadc9">Predictions gone wrong</h2>The astrology industry is growing. According to <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.marketresearchfuture.com/reports/astrology-market-22040">Market Research Future</a>, it is projected to grow from $14.3 billion in 2024 to $21.52 billion by 2032.Astrologists on TikTok are nothing new and have been on the platform as long as other communities like <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-changes-book-publishing-marketing-author-careers-2023-5">BookTok</a> or <a target="_blank" class="" href="https://www.businessinsider.com/witchtok-feud-baby-witches-gatekeeping-spells-2022-4">WitchTok</a>.The community includes tarot readers, spiritual workers, astrophotographers, and psychic mediums. The biggest creators include Nick Grigolia (3.2 million followers), Maren Altman (1.4 million), and Julia Kelley (384,000). Many use TikTok to attract paid customers.The industry has been gaining popularity on the platform with 492,000 posts having the #astrology hashtag in the last 12 months in the US alone, <a target="_blank" class="" href="https://ads.tiktok.com/business/creativecenter/hashtag/astrology/pc/en">according to TikTok data</a>. Many astrology TikTok accounts predicted a Harris win based on her chart, <a target="_blank" class="" href="https://www.semafor.com/article/11/10/2024/tiktok-astrologers-are-convinced-this-election-isnt-over">Semafor reported</a>. The current vice president had "her Saturn return, her Jupiter return, and her Mars return," professional astrologer Dayna Lynn Nuckolls <a target="_blank" class="" href="https://www.huffingtonpost.co.uk/entry/political-astrologists-predictions-who-will-win-presidential-election_n_6722d811e4b0871068fdfd1b">told HuffPost</a>.Trump, on the other hand, is in his seventh house year, Nuckolls told the outlet, which can signal conflict, competition, and disruption.Some astrologists foresaw Trump having a cardiac event and not becoming president due to health problems.<h2 id="829be4de-34dc-4560-9108-cda10e992a49">Fans let down</h2>After Trump's win, many astrology fans said they could no longer trust their favorite creators, with some even suggesting they should give up the trade altogether.In response, many astrologers have elaborated on their predictions, saying a period of unrest is still ahead. Others have doubled down, saying something surprising will happen within the next month."Some of you feel disillusioned by astrology and psychics who really saw this going in a different way," Rachel Lang, an astrologer, said in a recent video."And so I want to just say that the astrology of this time between now 2024 and 2026 is unprecedented. We haven't seen this many outer sign changes all within a short period of time in 6,000 years, so we really are in uncharted territory."The election took place "with Pluto and Capricorn at the last degree of Capricorn," and the inauguration in January "is taking place with Pluto in Aquarius," Lang said, which points to some mystery about how the "this story is going to continue to unfold."<h2 id="470ae343-4f60-4d47-a014-11e46690126d">Trust in the stars</h2>Rauchberg said people have been "clinging" to social media astrologists since the pandemic.A small study from 2018, published in the journal Personality and Individual Differences, found that people tend to turn to astrology during stressful times as a "coping device," even if they don't believe in it the rest of the time."Americans and those who are closely following the US elections outside of the states are really hungry for some kind of information and some stability and some structure," Rauchberg said. "But when you don't have those sources out there, or you've been told not to trust the mainstream media, where do you go?"People turn to astrologers for similar reasons that they turn to podcasters, Rauchberg said. While young men have migrated toward Joe Rogan and Logan Paul, astrology TikTok is more likely to have seen an influx of women."I think this really correlates with this growing distrust in mainstream media," Rauchberg said.Both are, in a way, older forms of sharing information. Podcasts are seen as relatable and down to Earth. The stars, similarly, don't have an agenda. They were around before political parties or even the US itself existed."Podcasts are not totally unlike going into the Agora or a public forum in ancient Greece or ancient Rome and listening to somebody speak," she said."In a time where people are really frustrated with mainstream media being skewed toward one perspective, the stars feel a little bit more neutral," she added. "They're not affiliated with a particular political cause or political movement."Sara Walka, the founder of the holistic self-help business The Sisters Enchanted and who teaches astrology, told BI the community is very resilient.However, those who don't acknowledge that there are always two possibilities will lead people to "lose trust."For example, on Election Day, there was a "tug of war" in the stars and planets "between the old and the new, Trump and Harris," Walka said."An astrologer has to acknowledge that this could lead to either path dependent on the collective," she said.Walka added that, in general, she saw astrologists skewing toward desiring a Harris win."I think the certainty that astrologers had in predicting a Harris win would have contributed to the shock and dismay many felt when that was not the case," she said."This will contribute to that overall feeling of not knowing who or what to trust in the short term."

Trump's election victory put TikTok's astrology community into a meltdown

<ul class="summary-list"><li>Tesla stock surged 12% in premarket trading following Trump's election victory.</li><li>Elon Musk has been an outspoken supporter of Trump, spending months campaigning for him.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/trump-won-election-what-that-means-for-elon-musk-2024-11">Elon Musk's big bet</a> on Donald Trump is already paying off for Tesla.The EV's stock surged 12% in premarket trading and is poised to open at its highest level in more than a year following the election result.<a target="_blank" rel=" nofollow" class="" href="https://x.com/FoxNews/status/1854053633198825482">Fox News</a> called the presidential race for Trump early Wednesday morning. A little under four hours later, projections from <a target="_blank" rel=" nofollow" class="" href="https://x.com/CNN/status/1854109735076676021">CNN</a> and other news organizations put Trump over the 270 Electoral College votes needed to win the presidency.Wedbush Securities analyst Dan Ives called Trump's victory a "homerun for Tesla.""Elon Musk's status as Trump's ally from the business community hasn't gone unnoticed by investors who have bid up shares in Tesla by 3% in pre-market trading on the election news," he said.Musk has been an outspoken supporter of Trump during the election. The billionaire has spent the last few months campaigning for the president-elect, even joining him onstage at a campaign rally in Butler, Pennsylvania.In his victory speech early Wednesday, Trump paid tribute to Musk's efforts, calling him a "super genius" and a <a target="_blank" class="" href="https://www.businessinsider.com/trump-praises-elon-musk-a-star-is-born-2024-11">"new star."</a>Gene Munster, the managing partner at Deepwater Asset Management, said Tesla's stock surge was based on an emotional response from investors and their confidence in the EV company's CEO."That emotion is Elon made a big bet and was right. This gives investors confidence that his next big bet has a greater potential to succeed," Munster <a target="_blank" class="" href="https://x.com/munster_gene/status/1854132728998031598">said in a post on X on Wednesday.</a><h2 id="bb765168-eacb-44bd-a20d-16d2c4933cad">Trump's win an 'overall negative' for EV industry</h2>Despite the surge in Tesla shares, Trump's victory could be bad news for the wider EV market.Ives said the Trump presidency could be an "overall negative" for the EV industry, citing the possibility that the Trump administration could withdraw tax incentives and rebates for manufacturers.However, Ives said it could be a "huge positive" for Tesla due to the company's scale and market position."Tesla has the scale and scope that is unmatched in the EV industry and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players (<a target="_blank" href="https://www.cnbc.com/quotes/BYDDF/">BYD</a>, <a target="_blank" href="https://www.cnbc.com/quotes/NIO/">Nio</a>, etc.) from flooding the U.S. market over the coming years," Ives said in a note.Tesla has been facing fierce competition in China, with rivals rolling out their own EVs at lower prices.China-based BYD has been Tesla's <a target="_blank" class="" href="https://www.businessinsider.com/tesla-q4-sales-less-than-china-byd-2024-1">main competitor in the region, </a>taking the title of the world's top seller of electric cars from Musk's company at the beginning of the year.Earlier this month, BYD <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11#:~:text=BYD%20has%20just%20notched%20another,and%20is%20eyeing%20global%20expansion.">scored another win when its quarterly </a>revenues outstripped Tesla's for the first time.BYD recorded revenues of 201.1 billion yuan ($28.2 billion) in the three months to September 30, up 24% from the same quarter last year. <a target="_blank" rel="" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10">Tesla posted sales of $25.2 billion</a> over the same period.Representatives for Tesla did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Donald Trump's election victory is a 'home run' for Tesla

<ul class="summary-list"><li>US bank stocks surged following Donald Trump's presidential election victory.</li><li>Markets see looser regulations and changes in oversight spurring more profits for banks. </li></ul>US bank stocks rallied on Wednesday after Donald Trump <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">cruised to victory</a> in the presidential election, with markets eyeing a better environment for dealmaking and lending to drive stronger profits. Shares of the largest US banks soared ahead of the opening bell. JPMorgan and Bank of America both rose 6%, Citi rose 8%, and Wells Fargo jumped 10%. Goldman Sachs and Morgan Stanley climbed 6% and 8%, respectively. The SPDR S&amp;P Bank exchange-traded fund climbed 8%. Investors flocked to <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">financial stocks</a> as a popular "Trump trade" in the weeks leading up to the election, with allies of the president-elect stating that Trump planned to <a target="_blank" class="" href="https://www.reuters.com/markets/us/if-trump-wins-he-plans-free-wall-street-burdensome-regulations-2024-04-12/">unravel many of the regulations</a> imposed on the banking sector after the 2008 financial crisis.According to Gerard Cassidy, a large-cap bank analyst from RBC Capital Markets, Trump's victory is likely to see some top regulators ousted, including the heads of agencies like the Consumer Protection Bureau and the Office of the Comptroller of the Currency.More banks could also consolidate in the coming years, assuming Trump's cabinet and advisors adopt a "pro-business" stance, Cassidy speculated. Commercial lending could also pick up, potentially causing bank revenue to beat expectations next year, he added."We've been very optimistic and bullish about the bank stocks all year, and last night's win by Trump continues that bullishness," Cassidy said in an interview with <a target="_blank" class="" href="https://www.cnbc.com/video/2024/11/06/outlook-for-banks-from-a-regulatory-standpoint-is-quite-positive-says-rbcs-gerard-cassidy.html">CNBC</a> Wednesday morning. "We're going to see a real change in anti-trust, and we're going to see a change in banking regulation as well, and that's going to be positive for the banks."Leading up to the election, analysts also said they saw a fresh wave of dealmaking under Trump amid a potentially looser anti-trust stance from his administration. That could result in increased advisory revenue for big banks and help drive up profits.

Bank stocks soar after Donald Trump's election victory

<ul class="summary-list"><li>Ukrainian soldiers told BI of their hopes, fears, and uncertainty over what Trump's victory means.</li><li>Trump's election win could have a huge impact on the war in Ukraine.</li></ul>Ukrainian soldiers holding back Russia's invasion woke up to an uncertain future after Donald Trump's <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">presidential election victory</a> on Wednesday.They told Business Insider about their hopes and fears following Trump's reelection, which could lead to Ukraine losing its biggest backer, hand Russia a major battlefield boost, and possibly put pressure on Ukraine to give up territory in exchange for a Trump-backed peace deal with Russian President Vladimir Putin.But some also expressed cautious optimism about what a Trump return to the White House could mean for a war that has dragged on for nearly three years.<h2 id="bab08d56-ba49-4cfd-aaf6-6984b313db5e">A new uncertainty</h2>Soldiers and veterans of the war are keenly aware of Trump's previous statements that suggested he could cut aid to Ukraine and try to push it into a peace deal with Russia.Asked whether Ukraine could defend itself effectively if Trump reduced US aid, Oleh Holubenko, a captain in Ukraine's Territorial Defense Forces, told BI: "Yes, we can. The question is only the 'price.'""We are paying with our lives," he added.In Kyiv, there is a "new anxiety and uncertainty" about Trump's next moves, Dan Rice, a former US Army artillery officer who served as a special advisor to Ukraine's military leadership, told BI.<div type="image" title="Donald and Melania Trump walking off a stage in front of an American flag and people clapping. Donald Trump is in a suit and has a fist raised." height="1343" width="2000" msid="115059620" hostid="261" sizebytes="160734"></div>"I believe a strong statement from the new administration supporting Ukraine would help the situation here in Ukraine immediately," Rice said from the Ukrainian capital, where he is now the president of American University Kyiv.Any loss of US funding would be keenly felt in Ukraine.Europe <a target="_blank" class="" href="https://www.businessinsider.com/europe-leading-being-bolder-less-timid-helping-ukraine-than-us-2024-7">as a whole has given more aid to Ukraine</a>, but the US has been the single largest contributor to its war efforts."Trump is absolutely unpredictable in his ideas about the war," Holubenko told BI, pointing to his last administration's provision of lethal aid to Ukraine, but also his interactions with Putin and North Korea's Kim Jong Un.He also said he thought Trump would be less tolerant of Kim and Putin's recent aggression in Ukraine.In the election campaign, Trump didn't offer a detailed plan for what he would do about US aid to Ukraine.But Trump has criticized the US' support so far, despite much of that money ultimately going to US arms manufacturers.Vice President-elect JD Vance has also criticized US support for Ukraine, and said: "I don't really care what happens to Ukraine one way or another."Republicans in Congress have <a target="_blank" href="https://www.businessinsider.com/zelenskyy-big-crisis-worse-than-ukraine-coming-us-aid-stops-2024-1">previously blocked aid for Ukraine</a>.<div type="image" title="A Ukrainian soldier prepares 155mm artillery rounds in a trench." height="3333" width="5000" msid="115059618" hostid="261" sizebytes="806502"></div>Trump may decide not to cut aid, and the uncertainty means some of those who have fought in the war are unwilling to speculate on what will happen now.Vitaliy Kryukov, a former loitering-munition commander out of action due to injury, said that "at the moment, I think there is no sense in talking about hypothetical scenarios."<h2 id="5a5f11e2-faf9-4782-8e54-d7aba00ed1ba">Hope in the face of change</h2>Despite uncertainty about the incoming administration, Ukrainian soldiers also criticized the piecemeal aid delivered by President Joe Biden's White House.Oleksandr Pleskov, a soldier, said on Election Day that a Vice President Kamala Harris victory would only result in the continuation of Biden's policies, which he characterized as: "Here's a little help for you.""And that help is not enough," he added.Pleskov said he expected "more resolute actions" in supporting Ukraine from a Trump presidency.Olga Bigar, a Ukrainian officer, also had some optimism about Trump: "I really like his determination and steadfastness in making decisions," she told BI.Bigar said she was aware of Trump's past with Putin, but said she put her trust in the idea that Ukrainian President Volodymyr Zelenskyy could dissuade Trump from "Russian propaganda.""I do not think that Donald Trump is a person who wants to go down in world history as the one who made concessions to the dictator of a third-world country," she added.<div type="image" title="A soldier looking out from the driver's hatch of an M2 Bradley infantry fighting vehicle covered in mud." height="1333" width="2000" msid="115059625" hostid="261" sizebytes="391416"></div>In the past, Trump has said he could strike a deal and end the war in a day, hinting that it could involve giving some Ukrainian territory to Russia, something Ukraine <a target="_blank" href="https://www.businessinsider.com/zelenskyy-trump-ukraine-war-end-plan-secret-cede-territory-2024-4">says</a> is unacceptable.Former US Army officer Rice told BI that there is some optimism in Kyiv "because President Trump has stated he will end the war quickly." But others were skeptical.Speaking to the Kyiv Independent, Yurii, a Ukrainian soldier, <a target="_blank" class="" href="https://kyivindependent.com/ukrainian-soldiers-react-to-trumps-u-s-presidential-victory-this-could-be-a-disaster/">said</a>, "I don't believe in the miracle of Trump's ability to scare Putin."Pleskov was also skeptical: "No one believes that he will be able to have an impact on Putin."<h2 id="9500d7bb-8c74-4615-a3e1-39c4ca19216c">A war for the West — even if Trump doesn't think so</h2>Holubenko, the Ukrainian captain, described the conflict as "a war for democratic values."If Putin and Kim are not stopped in Ukraine, they will move on to other countries, he argued.Bogdan Zelenyi, a Ukrainian veteran who was injured in the fighting, said that continued US support doesn't just help Ukraine, it helps to "keep the UN principles-based world order, as well as the security of the Euro-Atlantic community itself."A US veteran fighting in Ukraine, who goes by the call sign Jackie, told BI that helping Ukraine continues to be in the US' best interest."I hope the new administration recognizes the strength and cunning of the Ukrainian spirit, and considers their usefulness in maintaining security in this part of the globe," he said.For now, however, Ukraine and those fighting there will have to wait to see what Trump ultimately decides to do.

Ukrainian soldiers greet Trump's victory with a new kind of anxiety

<ul class="summary-list"><li>JPMorgan CEO Jamie Dimon congratulated Donald Trump on winning the White House.</li><li>In a memo to staff, Dimon and other top JPM executives called for "bringing our nation together."</li></ul>Leaders from across Wall Street are addressing Donald Trump's decisive victory over Vice President Kamala Harris to become the 47th president of the United States. On Wednesday, JPMorgan CEO Jamie Dimon weighed in to say the time has come to band together as a nation.In a memo to staff, members of the bank's operating committee, including Dimon, congratulated Trump before recalling Dimon's comments from Election Day about national unity. "As Jamie said <a target="_blank" href="https://jpmcclickmetrics.gaiacloud.jpmchase.net/api/v1/trackactions/details?app=YXBwPVRFJnNvdXJjZWlkPTg1NjE5MSZhY3Rpb249aHR0cHMlM2ElMmYlMmZzaXRlcy5qcG1jaGFzZS5jb20lMmZzaXRlcyUyZnRvZGF5anBtYyUyZlBhZ2VzJTJmaW5kZXguYXNweCUyMyUyZnByb2ZpbGUlMmYxMDY0Nmh0dHBzJTNhJTJmJTJmc2l0ZXMuanBtY2hhc2UuY29tJTJmc2l0ZXMlMmZjb2hvaG9tZSUyZlNpdGVQYWdlcyUyZkZlYXR1cmVkTmV3cyUyZnVwMmIydHQwancuYXNweCZ1c2VyPWZha2VpZHVuaXF1ZXJlY2lwaWVudCZ0PTYzODY2NTE2NjI4MDM2NjI5OQ==">yesterday</a>, we must now 'begin the work of bringing our nation together and focusing on the pressing economic and global issues before us,'" the memo said.The memo, signed by Dimon and other members of the operating committee, also congratulated successful down-ballot candidates and welcomed the prospect of working with the incoming administration."Our firm has a long history of working across the political spectrum and looks forward to engaging the new administration and elected officials in both parties," it said.Although Dimon has avoided endorsing a candidate, he has become increasingly vocal about world affairs. "We have to make sure that we are involved in doing the right things to get it resolved properly for the sake of the free democratic Western world for the next 100 years," <a target="_blank" class="" href="https://www.businessinsider.com/jpmorgan-jamie-dimon-world-war-iii-economic-outlook-geopolitics-nuclear-2024-10">he said at a recent financial-services gathering</a> in Washington, DC, speaking about the global order established by Western powers after World War II.His name is often floated as a potential contender for a White House cabinet position. He recently sought to quash speculation that he could join the next presidential administration, however. "I think the chance of that is almost nil, and probably I'm not going to do it," <a target="_blank" class="" href="https://www.businessinsider.com/jamie-dimon-political-ambitions-retirement-plans-jpmorgan-3q-earnings-2024-10">he told a Wells Fargo stock analyst</a> in an October earnings call. "I tend to be doing what I'm doing — I almost guarantee I'll be doing this — for a long period of time, or at least until the board kicks me out," he added.Judith Kent, who has been married to Dimon for more than four decades, spent part of the weekend <a target="_blank" class="" href="https://www.businessinsider.com/judith-dimon-door-to-door-michigan-canvassing-votes-kamala-harris-2024-11">canvassing for Harris</a> in the battleground state of Michigan."I'm proud to be a supporter and to spend time talking with voters and encouraging them to turn out to vote for the Harris-Walz ticket," Kent said in a statement to the <a target="_blank" class="" href="https://www.wsj.com/livecoverage/harris-trump-election-11-03-04-24/card/judy-dimon-jamie-dimon-s-wife-campaigns-for-harris-rpR3yH0WVhvnJ0l15eYW">Wall Street Journal</a>.Earlier on Wednesday, <a target="_blank" class="" href="https://www.businessinsider.com/goldman-ceo-david-solomon-memo-trump-presidential-victory-policies-2024-11">Goldman Sachs CEO David Solomon</a> also congratulated Trump on his victory — vowing to work with him to advance policies beneficial to clients and the economy.Read the full contents of the Wednesday memo from JPMorgan's Operating Committee about Trump's victory below.Dear colleagues,Voters have elected Donald Trump to be the 47th President of the United States and we congratulate him, Vice President-elect JD Vance and the incoming administration. We also congratulate representatives across the country who have been elected to serve in Congress and in state and local offices. As Jamie said <a target="_blank" href="https://jpmcclickmetrics.gaiacloud.jpmchase.net/api/v1/trackactions/details?app=YXBwPVRFJnNvdXJjZWlkPTg1NjE5MSZhY3Rpb249aHR0cHMlM2ElMmYlMmZzaXRlcy5qcG1jaGFzZS5jb20lMmZzaXRlcyUyZnRvZGF5anBtYyUyZlBhZ2VzJTJmaW5kZXguYXNweCUyMyUyZnByb2ZpbGUlMmYxMDY0Nmh0dHBzJTNhJTJmJTJmc2l0ZXMuanBtY2hhc2UuY29tJTJmc2l0ZXMlMmZjb2hvaG9tZSUyZlNpdGVQYWdlcyUyZkZlYXR1cmVkTmV3cyUyZnVwMmIydHQwancuYXNweCZ1c2VyPWZha2VpZHVuaXF1ZXJlY2lwaWVudCZ0PTYzODY2NTE2NjI4MDM2NjI5OQ==">yesterday</a>, we must now "begin the work of bringing our nation together and focusing on the pressing economic and global issues before us." Our firm has a long history of working across the political spectrum and looks forward to engaging the new administration and elected officials in both parties.JPMorganChase strives to be a place where people from different backgrounds and beliefs can come together with a common sense of purpose and mission. We are hopeful for the future and the role we will play tackling some of the most pressing challenges facing Americans and our country, together.Jamie Dimon, Chairman and CEO Ashley Bacon, Chief Risk Officer Jeremy Barnum, Chief Financial Officer Lori Beer, Global Chief Information Officer Tim Berry, Global head of Corporate Responsibility; Chairman of the Mid-Atlantic Region Mary Erdoes, CEO, Asset &amp; Wealth Management Stacey Friedman, General Counsel Teresa Heitsenrether, Chief Data &amp; Analytics Officer Marianne Lake, CEO, Consumer &amp; Community Banking Robin Leopold, Head of Human Resources Doug Petno, Co-head of Global Banking Jenn Piepszak, Co-CEO, Commercial &amp; Investment Bank Daniel Pinto, President and COO, JPMorgan Chase Troy Rohrbaugh, Co-CEO, Commercial &amp; Investment Bank Sanoke Viswanathan, CEO, International Consumer and WealthAre you a Wall Street insider? How is your firm or workplace responding to Donald Trump's presidential victory? Get in touch with this reporter. Reed Alexander can be reached via email at ralexander@businessinsider.com, or SMS/the encrypted app Signal at (562) 247-5758.

JPMorgan execs call for unity in a memo to staff on Trump's victory

<keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> candidate and Olympic wrestler <keyword id="19895499" type="General" weightage="100" keywordseo="Vinesh-Phogat" source="keywords">Vinesh Phogat</keyword> has emerged victorious in the fiercely contested <keyword id="23069853" type="General" weightage="20" keywordseo="Julana" source="keywords">Julana</keyword> Assembly seat in <keyword id="19904807" type="General" weightage="20" keywordseo="Haryana" source="keywords">Haryana</keyword>’s <keyword id="19958795" type="General" weightage="20" keywordseo="Jind-district" source="keywords">Jind district</keyword>. According to the Election Commission, Phogat secured her maiden political win over <keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords" meta.keywordsubtype="org" meta.entityname="BJP" meta.hostid="261" meta.entityid="BJP">BJP</keyword> rival Yogesh Kumar by a margin of around 6,000 votes. Early trends indicated Phogat’s lead over Kumar, which progressively widened as the day progressed, culminating in a decisive victory after 15 rounds of vote counting. Polling for the assembly elections in Haryana took place on October 5, with vote counting commencing at 8 AM today. Phogat totaled 65,080 votes, capturing the attention of both supporters and political analysts who lauded her successful transition from a celebrated wrestler to a formidable political figure. Notably, Phogat’s win brings the Julana seat back into Congress’s hands after 19 years. Bajrang Punia, a fellow wrestler and Congress leader who joined the party alongside Phogat, took to social media to express his support and pride. On platform X, he wrote, “Many congratulations to the country's daughter Vinesh Phogat for her victory. This fight was not just for one Julana seat, it was not just with 3-4 other candidates, it was not just a fight between parties. This fight was against the strongest oppressive forces in the country. And Vinesh emerged victorious.” As Congress celebrated Phogat’s success, the party raised concerns over alleged discrepancies in the Election Commission’s real-time data display. Senior Congress leader Pawan Khera stated, “There is a mismatch in the actual number of rounds counted and the number of rounds being shown on the television through the Election Commission data. The EC data is lagging behind; they are still showing fourth or fifth-round data while 11 rounds have been counted. Our General Secretary Communications has tweeted to the Election Commission asking – are [they] trying to put pressure on the local administration by delaying the display and uploading of data. In J&amp;K you are getting live data with every round counted but in Haryana, it is not so.” Congress leader Jairam Ramesh echoed these concerns, questioning the accuracy of the election data displayed. He remarked, “Like the Lok Sabha elections, in Haryana, we are again witnessing a slowing down of uploading up-to-date trends on the ECI website. Is the BJP trying to build pressure on the administration by sharing outdated and misleading trends?” Vinesh Phogat’s win in Julana marks a significant political debut, as she navigates a new arena beyond the wrestling mat. The victory represents not only a win for Congress in Haryana but also an influential addition to the party’s roster as it seeks to counter BJP’s influence in the state. As the results solidify, Phogat’s supporters are celebrating the historic nature of her triumph and its broader implications for Haryana’s political landscape. This story underscores the shifting dynamics within Haryana’s political scene, with Phogat’s victory exemplifying Congress’s strategic push to appeal to voters through candidates who resonate on a personal level with constituents. The state now waits to see how Phogat will leverage her influence both within her party and her constituency in the coming years. (With inputs from agencies)

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