August 20, 2024

“Leaders who can’t be questioned often end up doing questionable things." — Jon Acuff 

Today’s news at a glance:

1. DNC 2024 is happening this week in Chicago 🎤🏙️

2. 7-Eleven might soon be owned by Circle K 🛒💰

3. The U.S.-China trade War makes American businesses tighten their belts 🇺🇸🇨🇳

“… so that your giving may be in secret. Then your Father, who sees what is done in secret, will reward you.” (Matthew 6:4)

Gracious Father,
We thank You for seeing our hearts and knowing our motives. We ask for humility, Lord, that we may give generously without seeking the recognition of others. Help us to remember that our reward is not in the praise of men but in Your approval alone. Teach us to give faithfully and quietly, trusting that You see what is done in secret. May we be content with Your acknowledgment, finding joy in serving others out of love for You. Keep our hearts pure, focused on Your glory and not our own. Strengthen us to remain faithful in our giving, even when no one else sees.
In Jesus' name, Amen.

What to Expect at the DNC 2024

The 2024 Democratic National Convention kicks off today in Chicago, setting the stage for a pivotal moment in the race for the White House. As the political spotlight shines on the Windy City, here’s everything you need to know about this four-day event, which will surely capture the nation’s attention.

The convention will run through Thursday. It will be held at the United Center and McCormick Place. Each evening will feature speeches and programming, starting around 6:30 p.m. Eastern Time and wrapping up by 11 p.m.

Kamala Harris Takes Center Stage
With Biden stepping down from his reelection campaign last month, Harris has emerged as the party’s nominee. Minnesota Governor Tim Walz has been chosen as her running mate. The anointing of Harris has stirred the American political psyche. On one end, many are elated at the idea of a younger, more diverse candidate than that of Joe Biden. His mental decline led many prominent leaders in the Democratic party to encourage he step aside in favor of Harris. So far, her campaign has been catching momentum.

On the other hand, Harris has conveniently risen without any actual votes from the American electorate. This DNC, then, is a celebration of its own system in anointing a leader rather than electing one.

Why Chicago?
Chicago, a city with deep Democratic roots, was selected to host the convention—a nod to its critical role in past elections. The city’s proximity to key battleground states like Wisconsin and Michigan underscores its strategic importance. These states, which form part of the so-called “blue wall,” have flipped between parties in recent elections, making them crucial targets for Democrats and Republicans.

The Main Event: Harris and Walz
Over 4,000 delegates will gather in Chicago to officially nominate Kamala Harris and Tim Walz as the Democratic candidates for president and vice president. While Harris has already secured the majority of delegates in a virtual roll call earlier this month, a ceremonial roll call will take place during the convention, providing a moment of unity and celebration for the party.

Who’s Speaking and When
While the full speaker schedule hasn’t been released, these are some of the key highlights:

• Monday: The convention opens with speeches from President Joe Biden, First Lady Jill Biden, and other prominent figures, all centered around the theme “For the People.”

• Tuesday: Former President Barack Obama will take the stage with a theme of “A Bold Vision for the Future,” following remarks from former First Lady Michelle Obama.

• Wednesday: The focus shifts to “A Fight for Freedom,” with speeches from former President Bill Clinton, Speaker Emerita Nancy Pelosi, and other Democratic leaders.

• Thursday: Kamala Harris formally accepting the presidential nomination concludes a night dedicated to “For the Future.”

What’s on the Agenda?
The Democratic Party’s 2024 platform reflects a broad range of priorities. Here are some key points and how they contrast with their rival party:

• Economic Policies: The platform proposes raising the federal minimum wage to $15 an hour, making key tax credits permanent, and introducing a minimum income tax for billionaires. In contrast, the Republican Party typically advocates for lowering taxes and reducing government intervention in the economy, emphasizing the belief that economic growth is best driven by the private sector.

• Social Issues: Democrats aim to protect reproductive rights, including access to abortion and contraception, and propose eliminating federal marijuana convictions. These stances differ sharply from the Republican Party's platform, which often emphasizes the sanctity of life, including efforts to restrict abortion access, and tends to favor stricter law-and-order policies over decriminalization of certain offenses.

• Gun Control and Security: The platform includes a call to ban assault weapons and high-capacity magazines, while also addressing border security and democracy reform. Republicans, on the other hand, generally prioritize Second Amendment rights, advocating for less restrictive gun laws, and often emphasize stronger border enforcement measures as key to national security.

• Foreign Policy: The platform also highlights the party’s commitment to a two-state solution in Israel, emphasizing the importance of ensuring both Israeli and Palestinian rights to live in peace and security. While Republicans generally support a strong alliance with Israel, they often focus more on Israel's security and sovereignty, with less emphasis on a negotiated two-state solution.

  Reflection

  This event, and the unprecedented nature of the Harris ticket, provides left and right-leaning Americans alike with an opportunity to consider what it means to plan. We may try to chart our destinies and shape our trajectories, but ultimately much is out of our control. It is best to surrender each day to The Lord and seek his wisdom in every new moment. Proverbs 16:9 reminds us, “In their hearts, humans plan their course, but the Lord establishes their steps.” May we seek God’s guidance in all our endeavors, trusting that He will lead us in the right direction, just as we pray for our leaders to do the same. 

  In this season of political decision-making, let us also remember the importance of praying for all our leaders, regardless of party, as they navigate the complex challenges ahead.

7-Eleven’s Potential Buyout 

In a major development in the retail world, 7-Eleven, best heralded for their Slurpies and two-dollar California Rolls, may soon have a new owner. A Canadian company called Alimentation Couche-Tard, which owns the Circle K chain, has made a bid to buy the Japanese company Seven & i Holdings. This is the parent company of 7-Eleven, which operates a whopping 85,000 stores worldwide, primarily in Asia and the United States.

The Potential Deal
So, what exactly is going on here? Alimentation Couche-Tard, a giant in its own right with over 16,000 stores across North America and Europe, is looking to expand even further by purchasing all of Seven & i’s outstanding shares. While the details of how much money is on the table haven’t been disclosed, this could become one of the biggest foreign takeovers of a Japanese company ever. With Seven & i valued at more than $38 billion, this deal could be monumental.

Seven & i has acknowledged receiving the bid and has formed a special committee of independent directors to carefully review it. These directors are not company executives, so their job is to provide an unbiased assessment of the offer.

Why This Is Big News
If you’re wondering why this is such a big deal, think of it this way: Imagine you own a small shop that has been in your family for generations. Then, one day, a big company from another country offers to buy your shop for a lot of money. You’d have to consider many things before deciding what to do.

In Japan, companies like Seven & i have traditionally been very protective, often turning down offers from foreign companies. However, in recent years, Japan has been encouraging companies to take these offers more seriously, especially if they benefit the shareholders (people who own a piece of the company). This is part of a broader effort to make the Japanese market more fair and open.

This isn’t the first time Couche-Tard has shown interest in Seven & i, either. They approached them about a potential takeover back in 2020, but nothing came of it then. Now, with new guidelines in Japan, things might be different.

What’s Next?
Right now everyone is waiting for more details to see if this deal will go through. Analysts (the experts who study these kinds of things) believe that if the offer is good enough, some of the Japanese investors might be tempted to sell. This has already caused Seven & i’s stock price to jump by over 22% in Japan, showing that the market is paying close attention.

If the deal is approved, it will also need to pass Canadian regulatory checks. This means Canadian officials will look at the deal to ensure it’s fair and doesn’t create problems like a monopoly (when one company has too much control over a market).

Reflection
As we reflect on this potential business deal, we can draw a lesson about stewardship and discernment. In the parable of the talents (Matthew 25:14-30), Jesus teaches us about the importance of wisely managing the resources entrusted to us. Whether in business, in our personal lives, or our faith, we are called to make decisions that honor God and serve the greater good. Just as the directors of Seven & i are carefully weighing the offer before them, we too must seek God’s wisdom in the choices we face, ensuring that our actions align with His will and bring blessings to others.

In all things, may we remember that our ultimate responsibility is to use what we have been given to glorify God and build His kingdom here on earth.

Businesses Bracing for New Challenges in U.S.-China Trade War

As the U.S.-China trade war continues, American businesses are preparing for more difficulties. Companies are worried about the possibility of higher tariffs if Donald Trump is elected again and are adjusting their plans accordingly.

Impact of Tariffs
The trade conflict, which started under Trump and has continued under President Biden, has led to tariffs on many Chinese imports to protect American industries. For instance, Easy Signs, an Australian company, is postponing plans to expand its U.S. operations because the cost of parts from China has increased significantly due to these tariffs.

Business Responses
With the possibility of Trump imposing even higher tariffs, many companies are hesitant to invest or expand. Some are stockpiling goods and delaying growth to avoid future cost increases. This cautious approach is common among manufacturers and retailers dealing with these trade issues.

Industry-Specific Challenges
Different industries are affected in various ways. Some companies are shifting their production to other countries like Mexico and Vietnam to avoid Chinese tariffs, but this brings its complications. For example, Chinese firms are setting up factories in Mexico, complicating efforts to avoid tariffs. The solar industry is particularly hard hit due to its reliance on imported parts, with new tariffs affecting supplies from other countries as well.

Economic Impact
Overall, the trade war is contributing to economic uncertainty and volatility. It can lead to reduced business investment and slower economic growth, as companies may hold off on expansion plans or cut back on hiring due to the uncertain economic environment. For industries heavily reliant on international trade, the ongoing conflict exacerbates these challenges, affecting their global competitiveness and profitability.

Reflection
In times of economic upheaval and uncertainty, it’s crucial to place our trust in God and exercise patience. As we face these challenges, let us remember the Bible verse: “Cast all your anxiety on him because he cares for you” (1 Peter 5:7). Even though the world’s economic systems may be unstable, our faith in God’s provision offers comfort and hope. As we navigate these difficulties, may we support one another with kindness and integrity, reflecting the love and grace of Christ.

Disclaimer: These articles are based on available information as of the publication date. Please follow our publication for future updates and developments regarding this ongoing story.

All Reporting Fact Checked by:https://editor.factiverse.ai/home

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