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Trump win boosts Elon Musk’s electric vehicle company as Tesla shares soar more than 14%.

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Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “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.”

Tesla shares jumped 14.8 per cent Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3 per cent. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3 per cent.

Tesla dominates sales of electric vehicles in the U.S, with 48.9 per cent in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3 per cent in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1 per cent gain for the year after rising the past two days.

Parliament: Vote out NPP MPs for causing financial loss to the state – Ato Forson.

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Following an abrupt adjournment of Parliament, Minority Leader Dr. Cassiel Ato Forson has called for accountability from the New Patriotic Party (NPP) and urged Ghanaians to vote them out in the upcoming December 7 elections.

This call comes after Speaker Alban Bagbin indefinitely adjourned Parliament on Thursday, November 7, citing a lack of business due to the absence of NPP members from the Chamber.

Their absence prevented the commencement of scheduled parliamentary proceedings, even though the NPP had initially called for the recall session.

Dr. Ato Forson expressed grave concern over the absence of NPP MPs, attributing it to an apparent disarray within the party that he argues is hindering essential legislative functions.

He emphasized that the NPP’s failure to engage in parliamentary sessions not only delays critical discussions but also places a substantial financial strain on the state.

According to Dr. Forson, the NPP MPs’ absence exemplifies “willfully causing financial loss to the state” by disregarding their parliamentary duties.

Addressing the Parliamentary Press Corps shortly after the adjournment, he did not hold back in his critique, describing the NPP’s actions as both deeply troubling and a violation of parliamentary responsibilities.

The Minority Leader further highlighted that the NPP’s actions reflect a lack of commitment to governance, urging Ghanaians to hold the party accountable at the polls as a response to what he sees as a failure to address pressing national issues.

“I am deeply concerned and disturbed by what has happened and this is an abuse of the Standing Orders of the House. It is tantamount to causing financial loss to the state and we call on Ghanaians to punish them accordingly.

“They are short of ideas for solving the issues of the country and all that they know is dancing during their campaigns and sharing money

“Let no one deceive you that the NDC is here to distract government business because there is no business. We are fed up and we are just waiting for the elections so that Ghanaians can vote out this incompetent government out.”

President Akufo-Addo congratulates Trump on election as 47th US President.

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President Nana Addo Dankwa Akufo-Addo has extended his congratulations to Donald Trump on his election as the 47th President of the United States.

In his message on Wednesday, he expressed Ghana’s commitment to strengthening and deepening the bilateral relationship between the two nations, focusing on areas of mutual interest and cooperation.

President Akufo-Addo expressed optimism that under the leadership of President-elect Trump, the bond between Ghana and the United States would strengthen further.

“I am hopeful that, under your leadership, this bond will grow even stronger, paving the way for collaboration in addressing some of the world’s most pressing challenges, as we did during your first mandate,” he wrote on his official Facebook page.

He added, “Together, we can continue to promote peace, prosperity, and the dignity of all peoples.”

At 78 years old, Donald Trump has made history as the oldest person ever elected to the office of President of the United States.

His victory was propelled by sweeping the pivotal Blue Wall states of Michigan, Wisconsin, and Pennsylvania, securing the 270 Electoral College votes needed to claim the White House.

Meanwhile, Democratic presidential nominee Kamala Harris publicly conceded to Trump in a speech at Howard University in Washington D.C. on Wednesday, marking the official end of the race.

Vacant seats controversy: Speaker adjourns Parliament indefinitely again.

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Speaker Alban Bagbin has adjourned Parliament indefinitely for the second time. On Thursday, November, 7 when the House reconvened after an earlier adjournment on October 22, the NPP caucus in the House were not present in the Chamber, leading to the Speaker’s adjournment.

Alban Bagbin while addressing MPs in the chamber said there is no quorum to be formed for the House to transact business as the NPP MPs were absent in the Chamber.

According to Bagbin,  the Business Committee failed to present a business order for the House, hence Parliament had nothing to deliberate upon leading to the indefinite adjournment.

“We have no business before us to transact…In view of the failure of the business committee to sit as a result of a refusal of those who requested for a recall, we are once again adjourning the House…I proceed once more to adjourn the meeting indefinitely,” Bagbin stated.

The New Patriotic Party (NPP) Caucus in Parliament requested for an emergency recall of Parliament after Bagbin adjourned the House indefinitely on Tuesday, October 22 owing to the boycott of Parliament by the NPP MPs and the subsequent lack of quorum for the House to sit.

In a memo addressed to the Speaker, the NPP Caucus highlighted some important government business that has to be approved.

“We respectfully request that, upon recall of the House, the following urgent government business be deliberated upon and transacted including any other business that comes before the House,” the Caucus said in a memo to the Speaker.

However, after Bagbin had heeded to the Caucus’ plea, the NPP MPs failed to be present in the Chamber on November 7, and did not present the business order for which they had wanted the House to be recalled.

Leader of the NDC caucus in Parliament, Dr. Cassiel Ato Forson explained that his side of the House were present at the Business Committee meeting only to find out that the NPP MPs on the Committee did not show up.

Speaking to the media, shortly after the adjournment of the House, Ato Forson noted that although he reached out to the NPP on the matter, no MP responded.

“This morning at about seven o’clock, we showed up at the Business committee meeting and we noticed that the NPP members of the Business Committee once again failed to show up.

“I personally called the Committee clerk and I was informed that she is out of the jurisdiction and no one had called to inform her about the Business of the day.

“I was worried and reached out to the NPP side to have an indication as to what their plan is, no one responded,” Ato Forson explained.

Apply same swiftness to anti-LGBTQI Bill case – Bagbin tells Supreme Court.

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The Speaker of Parliament Alban Bgabin has told the Supreme Court to apply the same swiftness in how the case relating to the four seats that were declared vacant was handled to the case involving the anti-LGBTQI bill.

The speaker expressed surprise that the Supreme Court was swift in handling matters but did not apply the same with the other cases.

The Supreme Court must apply the same swiftness to the case on the anti-LGBTI which has been pending before the same court for over a year, the speaker said at a press conference in Accra on Wednesday, November 6.

The speaker further noted that the executive and the judicial arms of government are seemingly including to weaken parliament.

The Executive and the judiciary are seemingly colluding to weaken parliament,” he said.

Mr Bagbin further dismissed claims that there is currently a constitutional crisis in Ghana. He says there is no constitutional crisis,

He said,“There is no constitutional crisis in this country. The parliament of Ghana is alive and working, let nobody mislead, misinform, or disinform you and the country. “He added, “Democracy is about the rule of law, let the law work.”

It is recalled that following the ruling of Supreme Court that halted the execution of the speaker’s order to declare four seats vacant, some lawyers including Martin Kpebu stated that “It appears we have a constitutional crisis”.

The Supreme Court on Wednesday, October 30,  dismissed the application by the Speaker of Parliament Alban Bagbin to set aside its earlier ruling that stayed the execution of the Speaker’s declaration of four seats vacant.

During court proceedings, the apex court said the speaker’s application had no merit.

“We have considered the application, and we have come to the conclusion that the grounds supporting the application have no merit,” the Chief Justice stated.

“As the court pleases,” Bagbin’s lawyer, Thadeus Sory reacted.

It would be recalled that following an ex parte motion filed by Alexander Afenyo-Markin over the declaration of vacant seats by Bagbin, the apex court ordered for a stay of execution of the declaration.

In response, Bagbin filed an application at the apex court through his lawyer, Thaddeus Sory. The Speaker contends that the Supreme Court misapplied the law by putting on hold the execution of his ruling because it was a non-judicial decision.

The Speaker in his relief prayed the court to strike out its stay of execution of his ruling on the declaration of the four seats vacant, among others.

The Speaker is further seeking an order from the court to set aside the writ filed by the Leader of the New Patriotic Party (NPP) caucus, Alexander Afenyo-Markin, which sought to prevent the Speaker from making any ruling on the four seats.

According to the Speaker, the Supreme Court had powers to put on hold rulings of courts and not those of non-judicial bodies such as Parliament.

“In terms of orders staying of execution of rulings, the Supreme Court’s powers, under the 1992 Constitution of the Republic of Ghana and statute, to stay execution of rulings are limited to rulings of itself and of courts lower in the judicial hierarchy but do not extend to a ruling of the Speaker of Parliament who is not part of the judicial hierarchy,” the motion stated.

“With regard to the first defendant’s rulings in Parliament, a separate arm of Government, therefore, such rulings are not rulings within the judicial hierarchy so as to be the subject matter of ‘an application for stay of execution’ and a judicial order staying their execution,” it added.

Voting for Mahama will set Ghana backwards – Akufo-Addo.

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President Nana Addo Dankwa Akufo-Addo has stated that voting for John Mahama and the National Democratic Congress (NDC) in the December elections would represent a step backwards for the country.

He argued that Mahama and the NDC have “nothing new” to offer Ghanaians.

Speaking at a meeting with chiefs and elders in the Western North Region on Wednesday, President Akufo-Addo emphasised that the New Patriotic Party (NPP) flagbearer, Dr Mahamudu Bawumia, embodies fresh hope and progress for Ghana.

He urged the gathering to support the NPP to sustain and advance the country’s development.

“John Dramani Mahama will come here again before we vote in December 2024. When he comes, ask him about the Kumasi Brewery. It produces beer, and Guinness, and used to work three shifts within 24 hours. It collapsed during his tenure.

“You want a 24-hour economy but couldn’t oversee what was left in your care. Is it now that you are going to do something about it?

“Let’s not make a mistake and retrogress. Let’s throw our weight behind Bawumia and move forward to take Ghana to the next step of development,” he stated.

Bawumia outlines 12 ways he would expand educational opportunities for all Ghanaians.

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Vice President and New Patriotic Party (NPP) Presidential Candidate Dr. Mahamudu Bawumia has unveiled his plan to transform Ghana’s education system, aiming to expand access and opportunities for all. 

Addressing the youth in a nationwide engagement from Accra on Sunday evening, Dr. Bawumia emphasised that education, skills training, and a youth-friendly economic environment would be the core of his vision to empower Ghana’s youth.

Dr. Bawumia underscored education as essential for national development and youth empowerment, committing to build on the NPP government’s achievements, including Free Senior High School (SHS) which has benefitted approximately 5.7 million students since its introduction in 2017. 

He outlined a 12-point plan aimed at removing financial and infrastructural barriers to education, while expanding opportunities at every level.

“Our goal is to make education accessible and inclusive for all,” Dr. Bawumia stated, noting that his policies would ensure that both secondary and tertiary education meet the evolving demands of the nation. The 12 measures he proposed to advance education in Ghana are as follows:

1. Increase Student Accommodation – Address the housing shortage at public universities and other tertiary institutions by expanding affordable student accommodation.

2. Free Tertiary Education for Persons with Disabilities – Introduce a scholarship programme to remove financial barriers for persons with disabilities, ensuring equal opportunities at the tertiary level.

3. Integrate Scholarship Databases – Unify scholarship management across public institutions to improve accessibility and oversight of available funding.

4. Expand Student Loan Scheme Eligibility – Extend student loan access to all post-secondary students, including those in certificate and diploma programmes.

5. Prioritise STEM Training – Allocate a significant portion of national scholarships to Science, Technology, Engineering, and Mathematics (STEM) disciplines, ensuring skills development aligns with national priorities.

6. Implement Centralised Applications Processing Service (CAPS) – Simplify the application process for tertiary education with a “one-application, one-payment” system.

7. Establish an Open University – Provide more flexible learning opportunities through an Open University system, expanding access to higher education across the country.

8. Protect and Enhance Free SHS/TVET – Continue to support Free SHS and Technical and Vocational Education and Training (TVET) with additional funding to sustain and grow these transformative programmes.

9. Recruit and Support More Teachers – Hire more educators across all levels and improve their working conditions to ensure quality teaching.

10. Develop Infrastructure for Increased Enrolment – Invest in educational infrastructure to accommodate the growing number of students.

11. Offer Vehicle Incentives for Teachers – Provide teachers with incentives to purchase vehicles with engine capacities up to 1,800cc to improve their mobility and quality of life.

12. Continue Teacher Trainee Allowances – Sustain the teacher trainee allowance scheme to encourage more young people to enter the teaching profession.

US Elections: Trump wins in historic comeback.

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Donald Trump has secured over the 270 Electoral College votes required to return to the White House for a second term, following his previous tenure from 2017 to 2021.

This win makes Trump the confirmed victor of the 2024 U.S. presidential election.

In the early hours of Wednesday, November 6, 2024, Trump took the stage to declare victory after projections showed him winning crucial battleground states, including Pennsylvania, North Carolina, and Georgia. Shortly after, the Associated Press projected Wisconsin in his favour, solidifying his path back to the presidency.

“We made history for a reason tonight, and that reason is overcoming obstacles no one thought possible,” he said, calling it “the most incredible political achievement.”

With wins in these critical states, Trump’s victory appeared certain.

“It’s real!” shouted a young supporter who rushed to the front of the crowd, high-fiving friends and strangers in excitement.

Joined by family members—including daughter Ivanka and son-in-law Jared Kushner, who had been absent during much of the campaign—as well as aides and supporters, Trump expressed gratitude to his followers and promised a prosperous era for the country.

Polls across the country closed on November 5, with voting proceeding smoothly overall. A candidate needs at least 270 Electoral College votes to win the presidency.

Meanwhile, the candidate for the candidate for the Democrats, Kamala Harris, is yet to concede her loss.

UCL: Pep Guardiola comes out fighting as Man City hit ‘dark place.

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Manchester City manager Pep Guardiola has come out fighting as he contemplates his side’s worst sequence of results since 2018.

The 4-1 Champions League defeat by Sporting in Lisbon was City’s third loss in a row.

Only once during Guardiola’s reign did City lose three times in a row in a single season.

Although he rejected skipper Bernardo Silva’s post-match assertion that the club is currently in a “dark place”, Guardiola also accepted after a defeat of this size, words are largely meaningless.

However, he is not backing away from the challenge.

“We knew it would be a tough season at the start,” he said. “I like it. I love it. I want to face it and lift my players.

“I won’t give up, that’s for sure.”

Many Ghanaians believe solutions to societal problems is in prayer instead of hard work -Sam Jonah.

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“Many Ghanaians believe that the solution to Ghana’s financial, health and societal problems lie not in the application of mental resources nor hard work nor innovation but in prayer and divine interventions,” the Executive Chairman of Jonah Capital Limited, Sir Sam E. Jonah has said.

Sir Sam Jonah highlighted that this pervasive dependency on divine solutions posed a risk to Ghana’s progress.

“While faith is an integral part of our culture, it becomes problematic when it discourages critical thinking, personal responsibility and accountability,” he stated.

He was speaking at the Graphic National Development Series on Tuesday [Nov 5], under the theme, “A Critical Look at Education and Culture in Ghana to Chart a Course for National Development, Peace, and Our Collective Prosperity.”

Sir Sam Jonah stressed the impact of this mindset on national development.

He further noted that it was evident that a large number of people believed that the effective way of solving the country’s financial, health and other societal problems was not by thinking and working but by appealing to the Almighty.

“Where else would the notion be taken seriously that a strong economy, food security or the eradication of preventable disease can somehow be achieved, not by the use of our brains but by praying to God and casting and binding demons and yet this absurdity is nodded to by a large number of people when it is delivered from our pulpits in our country,” he added.

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