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Herman Cain, the businessman, and former GOP presidential candidate dies from coronavirus at 74

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Herman Cain, the businessman, and former GOP presidential candidate dies from coronavirus at 74

Cain examined constructive for COVID-19 on June 30 and was hospitalized on July 1.

Herman Cain, American businessman and former Republican candidate for president, has died after being hospitalized with COVID-19 for almost a month, in keeping with a publish on his private web site and a supply near the White Home to ABC Information.

“You are by no means prepared for the sort of information we’re grappling with this morning. However we have now no alternative however to hunt and discover God’s power and consolation to take care of it,” staffer Dan Calabrese wrote in an obituary posted on HermanCain.com Thursday. “Herman Cain — our boss, our pal, like a father to so many people — has handed away.”

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“Though he was principally fairly wholesome lately, he was nonetheless in a high-risk group due to his historical past with most cancers,” the publish continues. “We knew the time would come when the Lord would name him dwelling, however we actually favored having him right here with us, and we held out hope he’d have a full restoration.”

Cain, 74, was hospitalized in Atlanta with the coronavirus on July 1, 11 days after he attended President Donald Trump’s indoor rally in Tulsa, Oklahoma, on June 20. He was photographed there inside the area with out a masks sitting with a bunch of different Trump marketing campaign surrogates.

When Cain’s workforce confirmed the information of his hospitalization on Twitter, they famous: “There is no such thing as a manner of understanding for positive how or the place Mr. Cain contracted the coronavirus.”

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A spokesperson for Cain stated on Monday that he remained hospitalized and was being handled with oxygen for his lungs.

“The medical doctors say his different organs and techniques are sturdy,” the spokesperson added at the time.

On this picture posted to his Twitter account in June 20, 2021, Herman Cain is proven at a rally for President Trump in Tulsa.On this picture posted to his Twitter account in June 20, 2021, Herman Cain is proven at a rally for President Trump in Tulsa.Herman Cain/Twitter

The former pizza firm govt was the front-runner in the 2012 race for the Republican presidential nomination for roughly a month with an agenda he known as the 9-9-9 plan to simplify the tax code.

One other former Republican candidate for president, Sen. Mitt Romney, R-Utah, was amongst the first to specific his condolences on social media and famous Cain’s catchphrase.

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President Donald Trump tweeted in the afternoon that he spoke with Cain’s spouse, Gloria, and their two youngsters, Melanie and Vincent, and expressed his condolences.

“He was a really particular man, an American Patriot, and nice pal,” Trump tweeted.

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At his coronavirus briefing Thursday afternoon, Trump added, “Let me start by expressing our disappointment at the passing of an exquisite man and a pricey pal of mine, Herman Cain. He was a really particular particular person and I received to know him very effectively. Sadly he handed away from the factor known as the China virus.”

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Cain was born in 1945 in Memphis, Tennessee, and raised in Atlanta by two working-class mother and father. He graduated from Morehouse School in 1967 with a bachelor’s diploma in arithmetic and earned a grasp’s diploma in pc science from Purdue College 4 years later.

Throughout his research, he served as a mathematician at the U.S. Division of the Navy.

David A. Thomas, the president of Morehouse School, supplied his condolences, saying, “He was a philanthropist, a profitable enterprise govt, a political activist, a media persona, a caring father, and a son of Morehouse who graduated in 1967. Our hearts and prayers are with the Cain household.”

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Cain entered the company world and climbed the skilled ladder at a number of corporations together with Coca-Cola, Pillsbury and Burger King. In 1986, he was appointed the CEO of Godfather Pizza and shortly turned the failing chain right into a worthwhile enterprise.

On this Nov. 30, 2011, file picture, Republican presidential contender Herman Cain addresses marketing campaign supporters throughout a marketing campaign cease in Cincinnati, Ohio.On this Nov. 30, 2011, file picture, Republican presidential contender Herman Cain addresses marketing campaign supporters throughout a marketing campaign cease in Cincinnati, Ohio.John Sommers II/Reuters, FILE

In 1993, Cain rose to the political highlight throughout a city corridor assembly with President Invoice Clinton over well being care. He argued with the president over a well being care mandate, contending it will price jobs and harm companies.

“Mr. President, with all due respect, your calculation on what the affect would do, fairly truthfully, is wrong,” he stated.

Cain left the Godfather Pizza in 1996 and grew to become the president and, later, CEO of the Nationwide Restaurant Affiliation, the place he lobbied with congressional lawmakers. He served as an financial adviser throughout the 1996 Bob Dole presidential marketing campaign and remained shut with Republicans.

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Cain launched two unsuccessful presidential runs in 2000 and 2004. In 2006, he was identified with stage IV liver and colon most cancers, however he stated in 2007 he was cancer-free.

In 2012, he made one other try at the White Home and gained momentum amongst potential GOP voters.

A Quinnipiac College ballot launched at the finish of October 2011 had him main the GOP candidates by seven factors. It was round this time that a number of girls got here ahead with sexual harassment allegations that dated again to the ’90s. Whereas Cain denied all of the allegations, his ballot numbers slipped and he suspended his marketing campaign that December.

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On this June 20, 2014, file picture, Herman Cain speaks throughout Religion and Freedom Coalition’s Street to Majority occasion in Washington.On this June 20, 2014, file picture, Herman Cain speaks throughout Religion and Freedom Coalition’s Street to Majority occasion in Washington.Molly Riley/AP, FILE

He remained an lively determine in GOP politics following his marketing campaign and served as a pundit on Fox Information and different applications. Final 12 months, Trump stated he was contemplating Cain for a seat on the Federal Reserve, however Cain withdrew.

A co-chair of Black Voices for Trump, Cain grew to become an outspoken advocate for the Republican Occasion and Trump lately.

Cain is survived by his spouse, who he married in 1968, two youngsters and a number of grandchildren.

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IMF boosts India’s growth forecast to 6.8% for 2024

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IMF increases India's growth projection to 6.8 pc for 2024

The International Monetary Fund (IMF) has increased India’s growth projection to 6.8 percent for this year, up by 0.3 percent from its previous update in January 2024, as stated in the World Economic Outlook (WEO) released on Tuesday.

The IMF predicts India’s growth will remain strong at 6.8 percent in 2024 and 6.5 percent in 2025, driven by robust domestic demand and a growing working-age population.

India is expected to outperform other large economies, with China following at 4.6 percent in 2024 and 4.1 percent in 2025. Global output growth is anticipated to continue at a steady pace of 3.2 percent in 2024 and 2025, consistent with the growth rate in 2023.

“The global economy remains remarkably resilient, with growth holding steady as inflation returns to target,” noted the IMF in its report. Despite previous predictions of a recession, the world economy has stayed afloat, thanks to the banking system’s resilience and stability in major emerging markets.

Regarding oil prices, the IMF foresees a 2.5 percent year-over-year decrease to an average of $78.60 per barrel in 2024, further falling to $67.50 by 2029. The organization considers the risks to this forecast as “balanced,” with potential price fluctuations due to geopolitical tensions and changes in supply and demand dynamics.

In conclusion, the IMF’s updated projections reflect a positive outlook for India’s economic growth, with the global economy showing resilience and stability despite existing challenges and uncertainties in the international landscape.

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UNCTAD predicts India’s GDP growth to reach 6.5% in 2024

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UNCTAD forecasts India’s GDP growth at 6.5 pc in 2024

The latest UNCTAD report forecasts global economic growth at 2.6% in 2024, just above the recessionary threshold. India’s economy stands out with a projected expansion of 6.5% due to strong public investment and service sector growth, amidst a gloomy global scenario.

The report highlights weak economic activity in Europe, particularly in countries like Germany and Italy facing industrial slowdowns and fiscal constraints. The Americas are expected to experience a slowdown, with Argentina battling severe inflation and Brazil’s growth dampened by external pressures.

In Africa, growth is projected at 3.0%, slightly up from 2.9% in 2023. However, armed conflicts and climate impacts pose challenges. The continent’s largest economies, Nigeria, Egypt, and South Africa, are underperforming, affecting overall prospects. Oceania, especially Australia, is expected to see subdued growth extending into 2024.

Global merchandise trade fell by about 1% in 2023, diverging from overall economic growth due to trade tensions and subdued global demand. Disruptions in key shipping routes, such as the Panama Canal drought and Red Sea vessel attacks, have strained merchandise trade and increased shipping costs significantly, according to the report.

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Tesla Layoffs Serve as a Reminder of Twitter Layoffs, with Some Departments Seeing a 20% Reduction in Staff

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Tesla layoffs reminder of Twitter sackings, some departments lose 20 per cent staff

In a surprising turn of events, Tesla has laid off a significant number of employees, impacting several departments and high performers within the company. The decision, reportedly due to poor financial performance, saw some departments being gutted by 20 per cent.

According to reports, the layoffs affected more than 10 per cent or nearly 14,000 workers across the US, Europe, and China. The move was made to cut costs and increase productivity in preparation for the company’s next phase of growth. Many of the laid-off employees were high performers, adding to the shock of the news.

A Tesla manager expressed their dismay, stating, “I lost 20 per cent of my team, some really good players too.” In addition to the layoffs, two high-profile executives, including the VP of Public Policy and Business Development, and the SVP of Powertrain and Energy, have also resigned from the company.

Notably, Tesla has recently abandoned plans to develop a low-cost EV priced at around $25,000. With the company set to report its first-quarter earnings next week, the layoffs and executive departures raise questions about the future direction of one of the leading electric car manufacturers in the industry.

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