Eric Adams is poised to become the next mayor of New York City after winning the Democratic party nomination by a slim margin over fellow challengers.
The retired black police captain, who has promised to restore order to New York City’s streets, secured 50.5 per cent of the vote to 49.5 per cent for Kathryn Garcia, the former head of the sanitation department, according to the city’s board of elections’ latest tally. Maya Wiley, the leading progressive candidate, came third.
Adams and Garcia were separated by 8,426 votes, with only about 3,700 outstanding.
Although the results were unofficial and may still be challenged, the Associated Press called the primary for Adams last night.
The result was thrown into doubt last week after an extraordinary blunder by the election board led to a mistaken count and threw the city’s first ranked choice election into disarray.
Adams ran as a moderate who is uniquely capable of using the police to tackle soaring gun violence and hate crime while at the same time reforming the department. Both Adams and rival Garcia, who showed a late burst of support, rejected progressive calls to “defund” the police.
Given New York City’s overwhelming number of Democratic voters, the winner of the party’s primary is widely expected to prevail in November’s general election.
Five more stories in the news
1. Pentagon cancels $10bn cloud contract The US defence department has reversed its decision to award a highly sensitive $10bn cloud computing contract solely to Microsoft. Amazon had accused former president Donald Trump of putting pressure on the Pentagon to award the contract to its rival because of his animus towards founder Jeff Bezos. The Pentagon said yesterday it would start a new procurement process.
2. Rubio lambasts Didi listing The Republican senator from Florida told the Financial Times it was “reckless and irresponsible” to allow Didi Chuxing, which he described as an “unaccountable Chinese company”, to sell shares on the New York Stock Exchange. Shares in the Chinese ride-hailing app lost a fifth of their value yesterday after Beijing said it would act to strengthen the protection of sensitive data. The FT editorial board’s view:
“Western investors have, once again, found themselves caught in the midst of a battle between Chinese businesses and the state.”
3. UAE-Saudi brinkmanship threatens Opec unity Brent, the international benchmark, reached a three-year high yesterday as the disagreement between Saudi Arabia, Opec’s de facto leader, and the UAE, a close, previously co-operative partner, triggered a briefing war between the two camps. The rift could yet see the UAE, an Opec member since 1967, leave the group. Here’s what that means for oil prices.
4. US piles pressure on EU to drop digital tax plan Brussels is pushing ahead with its proposal for a levy on digital companies but is coming under increasing pressure from the Biden administration to drop the plan. The two sides will hold talks ahead of this week’s G20 meeting. Momentum for the global tax is also under threat in Washington.
5. Central bankers see limited role for crypto in reserve operations Central bankers are sceptical that bitcoin and other cryptocurrencies will supplant gold as a safe store of value but are upbeat on the prospects for official digital tokens as authorities grapple with how to respond to the crypto boom.
Other cryptocurrency news Marshall Wace, the London-based hedge fund with $55bn of assets under management, is plotting investments in areas such as blockchain technology and stablecoins, say people familiar with its plans.
Coronavirus digest
About 22m fewer people are in work in advanced economies than before the coronavirus pandemic, according to research by the OECD.
Joe Biden yesterday urged more Americans to get vaccinated against Covid-19 as cases begin to rise again across the US, fuelled largely by the Delta coronavirus variant.
The Delta variant and a surge among unvaccinated younger people has catapulted Spain’s infection rate to the highest in mainland Europe.
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The day ahead
Federal Reserve minutes Investors will pay close attention when minutes from the US central bank’s last meeting are released later today. The Fed surprised market participants after the June 15-16 meeting when it signalled a potential policy shift in the face of higher inflationary pressures and strong growth.
US employment US job openings have surged in recent months, hitting 9.3m in April — a level economists expect will be maintained in May. (FT, WSJ)
England vs Denmark England will attempt to reach its first big tournament final in 55 years today as it faces Denmark in the Euro 2020 semi-final — but win or lose, societal effects are likely to be felt. The victor will play Italy, which beat Spain on penalties in the other semi-final.
Keep up with the important business, economic and political stories in the coming days with the FT’s revamped Week Ahead newsletter. Subscribe here. And don’t miss our FT News Briefing audio show — a short daily rundown of the top global stories.
What else we’re reading
China watches Afghanistan anxiously as the US withdraws As Washington pulls out of Afghanistan, the burning questions are not only whether the Taliban can fill the power vacuum created by the US withdrawal but also whether Beijing — despite its longstanding policy of “non-interference” — may become the next superpower to try to write a chapter in its neighbour’s history.
It’s time to end arbitrary firings in fast-food chains and elsewhere Almost half of US workers say they have lost a job for a bad reason or no reason at all. New York City is trying to change this precarious situation: starting this week, fast-food companies with at least 30 outlets nationwide must show “just cause”, defined as objective operational or conduct-related reasons, for shedding staff.
Johnson’s Brexit win was a Pyrrhic victory Boris Johnson won the referendum on EU membership and has re-made his country. But has he done so for the better or the worse? Has he increased opportunities for British people, or diminished them? Has he made the UK more influential and prosperous, or less so, asks Martin Wolf.
Commandeering business class No one knows just how much business travel will be permanently lost to Zoom, tightened budgets and rising environmental awareness, writes Philip Georgiadis. But as the pandemic ripples through aviation and crushes corporate travel, well-heeled holidaymakers will occupy the premium seats.
Manila’s dynastic shift Benigno “Noynoy” Aquino III, the former Philippine president and son of democracy icons, died on June 24. His passing came amid shifts in the country’s dynasty-dominated political landscape: President Rodrigo Duterte’s clan is ascendant, and with his patronage, the family of ex-dictator Ferdinand Marcos — the nemesis of the Aquinos — has seen its fortunes revived. (Nikkei Asia)
Television
How bittersweet to become a sudden star during lockdown. Phoebe Dynevor, who plays ingénue Daphne in the sexy Georgian TV series Bridgerton, became famous overnight during the most claustrophobic time in recent history. But the 26-year-old hasn’t been able to try on her fame in public; instead, like the rest of us, she has had to stay home.
Source: Economy - ft.com
