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A lawsuit in New York may shake things up at the NRA

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“WAYNE’S WORLD” is how Monica Connell, a lawyer with the New York state attorney-general’s office, described how the National Rifle Association, better known as the NRA, operated for decades. On January 8th, during the opening statement of the state’s civil trial against the NRA, Wayne LaPierre, who has headed the gun-rights organisation since 1991, and two other former and current top executives, Ms Connell said, “this case is about corruption”.

The lawsuit filed by Letitia James, New York’s attorney-general, accuses the NRA’s leadership of instituting a culture of mismanagement and negligence which benefited themselves, family, friends and certain vendors, and caused the organisation to lose more than $63m, much of it donated by gun-owners. The state alleges that Mr LaPierre and the others used NRA money on luxury travel, including private jets, and did not declare expensive gifts, including African safaris and yacht trips. And, Ms Connell said, Mr LaPierre retaliated against anyone who questioned him. Oliver North, a former NRA president pushed out in 2019, is expected to testify.

Ms James first filed suit against the NRA in August 2020, seeking to dissolve it. The organisation is chartered by New York state, where it was founded in 1871, in the wake of the civil war. As it is registered as a charity in New York, it is under Ms James’s jurisdiction and watchful eye. A judge blocked her effort to disband the NRA, but said she should pursue other avenues as, if proven, her allegations tell “a grim story of greed, self-dealing, and lax financial oversight at the highest levels”. The NRA unsuccessfully filed for bankruptcy in Texas. A judge there ruled that the organisation was solvent and had filed only to evade mismanagement allegations in New York.

The NRA, Mr LaPierre and the other plaintiffs deny any wrongdoing.  Mr LaPierre’s lawyer said his client took private jets because of death threats. As for the yacht excursions, well who wouldn’t want to go on a yacht? The NRA, for its part, appeared to be distancing itself from Mr LaPierre. In her opening statement the group’s lawyer praised him as a visionary, but also stressed that “The NRA is not Wayne LaPierre.”

The association was founded to improve marksmanship and training, and later also promoted safety. But, in large part because of Mr LaPierre, it has morphed into a powerful lobby for gun rights. It spent millions to help Donald Trump get elected in 2016. But it has struggled with falling revenue, falling membership and in-fighting.

Mr LaPierre announced his resignation on January 5th, citing health reasons. How much this will change is unclear. The executives who remain are LaPierre loyalists. The interim head is his spokesperson and one of his closest advisers. But if the NRA loses the suit there is a good chance that the people who put the organisation into this position will be removed by a state overseer. Stephen Gutowski, the founder of the Reload, an independent publication focused on firearms policy and politics, points to the obvious irony: the lawsuit, which started out seeking to dismantle the NRA, may be “the best chance the NRA has for surviving”.

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Economics

Donald Trump has many ways to hurt Elon Musk

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THERE WAS a time, not long ago, when an important skill for journalists was translating the code in which powerful people spoke about each other. Carefully prepared speeches and other public remarks would be dissected for hints about the arguments happening in private. Among Donald Trump’s many achievements is upending this system. In his administration people seem to say exactly what they think at any given moment. Wild threats are made—to end habeas corpus; to take Greenland by force—without any follow-through. Journalists must now try to guess what is real and what is for show.

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Economics

Donald Trump has many ways to hurt Elon Musk

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THERE WAS a time, not long ago, when an important skill for journalists was translating the code in which powerful people spoke about each other. Carefully prepared speeches and other public remarks would be dissected for hints about the arguments happening in private. Among Donald Trump’s many achievements is upending this system. In his administration people seem to say exactly what they think at any given moment. Wild threats are made—to end habeas corpus; to take Greenland by force—without any follow-through. Journalists must now try to guess what is real and what is for show.

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Economics

Jobs report May 2025:

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U.S. payrolls increased 139,000 in May, more than expected; unemployment at 4.2%

Hiring decreased just slightly in May even as consumers and companies braced against tariffs and a potentially slowing economy, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls rose 139,000 for the month, above the muted Dow Jones estimate for 125,000 and a bit below the downwardly revised 147,000 that the U.S. economy added in April.

The unemployment rate held steady at 4.2%. A more encompassing measure that includes discouraged workers and the underemployed also was unchanged, holding at 7.8%.

Worker pay grew more than expected, with average hourly earnings up 0.4% during the month and 3.9% from a year ago, compared with respective forecasts for 0.3% and 3.7%.

“Stronger than expected jobs growth and stable unemployment underlines the resilience of the US labor market in the face of recent shocks,” said Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management.

Nearly half the job growth came from health care, which added 62,000, even higher than its average gain of 44,000 over the past year. Leisure and hospitality contributed 48,000 while social assistance added 16,000.

On the downside, government lost 22,000 jobs as efforts to cull the federal workforce by President Donald Trump and the Elon Musk-led Department of Government Efficiency began to show an impact.

Stock market futures jumped higher after the release as did Treasury yields.

Though the May numbers were better than expected, there were some underlying trouble spots.

The April count was revised lower by 30,000, while March’s total came down by 65,000 to 120,000.

There also were disparities between the establishment survey, which is used to generate the headline payrolls gain, and the household survey, which is used for the unemployment rate. The latter count, generally more volatile than the establishment survey, showed a decrease of 696,000 workers. Full-time workers declined by 623,000, while part-timers rose by 33,000.

“The May jobs report still has everyone waiting for the other shoe to drop,” said Daniel Zhao, lead economist at job rating site Glassdoor. “This report shows the job market standing tall, but as economic headwinds stack up cumulatively, it’s only a matter of time before the job market starts straining against those headwinds.”

The report comes against a teetering economic background, complicated by Trump’s tariffs and an ever-changing variable of how far he will go to try to level the global playing field for American goods.

Most indicators show that the economy is still a good distance from recession. But sentiment surveys indicate high degrees of anxiety from both consumers and business leaders as they brace for the ultimate impact of how much tariffs will slow business activity and increase inflation.

For their part, Federal Reserve officials are viewing the current landscape with caution.

The central bank holds its next policy meeting in less than two weeks, with markets largely expecting the Fed to stay on hold regarding interest rates. In recent speeches, policymakers have indicated greater concern with the potential for tariff-induced inflation.

“With the Fed laser-focused on managing the risks to the inflation side of its mandate, today’s stronger than expected jobs report will do little to alter its patient approach,” said Rosner, the Goldman Sachs strategist.

Friday also marks the final day before Fed officials head into their quiet period before the meeting, when they do not issue policy remarks.

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