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Winning North Carolina, Donald Trump seizes the early advantage

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DONALD TRUMP won the swing state of North Carolina as he took an early advantage in his race for the White House against Kamala Harris. The vice-president’s path to victory narrowed as early results showed her underperforming Joe Biden’s showing of four years ago. At 11pm Eastern time, early vote counts in America’s presidential race showed an early advantage in the electoral college for Mr Trump. There were warning signs for the Harris campaign as the first results poured in.

Several hours after the first polls closed, the other six of the seven swing states seen as vital to the two candidates’ chances for winning the electoral college—Arizona, Georgia, Michigan, Nevada, Pennsylvania and Wisconsin—were too close to call. Yet Mr Trump enjoyed a lead of three percentage points in Georgia, with 93% of the state’s vote counted. In North Carolina, Mr Trump’s lead was similar with just over 88% of the vote counted.

If Mr Trump’s lead holds up there, the pathway to an electoral-college victory for Ms Harris would narrow considerably, requiring her to sweep the “blue wall” states of Michigan, Pennsylvania and Wisconsin, where the vote count was proceeding more slowly.

Outside the key battlegrounds, the early picture was no more encouraging for the Harris campaign. In Virginia, which Mr Biden won comfortably in 2020, Ms Harris led narrowly with 82% of votes counted. She seemed likely to win Virginia eventually but was lagging behind Mr Biden’s performance in suburban counties such as Loudoun, outside Washington, DC. There, similarly to other suburban jurisdictions in Virginia, Ms Harris’s share of a near-complete vote trailed Mr Biden’s performance four years ago by more than six percentage points. That is a concerning trend if it extends to Pennsylvania and Michigan, where suburban voters are crucial to Ms Harris’s prospects.

In Florida, a former battleground that Mr Biden lost by just over three percentage points last time, Ms Harris was doing even worse, underperforming Mr Biden’s margin by ten percentage points with almost all of the state vote counted. Across all early reporting states, Ms Harris’s performance in counties posting near-complete votes to Mr Biden’s numbers in 2020 showed the vice-president underperforming.

Ms Harris and her allies will have to hope that the picture unfolds differently in Pennsylvania, the most important of the three blue-wall states, which always looked like a crucial state for both her and Mr Trump. Here there were at least a few encouraging signs. With just over a third of the expected vote posted in Montgomery County, a populous suburb of Philadelphia that leans Democratic, Ms Harris led with 68% of the vote, more than five percentage points better than Mr Biden’s performance four years ago. That is the sort of result she will probably need in all of Philadelphia’s blue-tinted-collar counties if she is to hold off Mr Trump’s strength in less populated rural areas.

Michigan’s vote was too incomplete to judge even several hours after its polls closed, and Wisconsin, which Mr Biden won by just 20,000 votes four years ago, Mr Trump led narrowly with 61% of the vote counted. A similar early picture prevailed in Arizona, a state where pre-election polls had shown Mr Trump held his most significant advantage.

Because the trio of Pennsylvania, Michigan and Wisconsin remained in play at 11pm EST—and no other state pegged for Ms Harris had fallen to Mr Trump—the election remained in the balance. What seemed clear is that if Ms Harris were to defy the early run of results and squeeze out a victory, it would emerge from the key Rust Belt states and would probably be as close as the razor-thin margins Mr Biden won there in 2020.

Economics

Elon Musk’s failure in government

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WHEN DONALD TRUMP announced last November that Elon Musk would be heading a government-efficiency initiative, many of his fellow magnates were delighted. The idea, wrote Shaun Maguire, a partner at Sequoia Capital, a venture-capital firm, was “one of the greatest things I’ve ever read.” Bill Ackman, a billionaire hedge-fund manager, wrote his own three-step guide to how DOGE, as it became known, could influence government policy. Even Bernie Sanders, a left-wing senator, tweeted hedged support, saying that Mr Musk was “right”, pointing to waste and fraud in the defence budget.

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Economics

The fantastical world of Republican economic thinking

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The elites of the American right cannot reconcile the inconsistencies in their policy platform

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Economics

People cooking at home at highest level since Covid, Campbell’s says

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A worker arranges cans of Campbell’s soup on a supermarket shelf in San Rafael, California.

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Campbell’s has seen customers prepare their own meals at the highest rate in about half a decade, offering the latest sign of everyday people tightening their wallets amid economic concerns.

“Consumers are cooking at home at the highest levels since early 2020,” Campbell’s CEO Mick Beekhuizen said Monday, adding that consumption has increased among all income brackets in the meals and beverages category.

Beekhuizen drew parallels between today and the time when Americans were facing the early stages of what would become a global pandemic. It was a period of broad economic uncertainty as the Covid virus affected every aspect of everyday life and caused massive shakeups in spending and employments trends.

The trends seen by the Pepperidge Farm and V-8 maker comes as Wall Street and economists wonder what’s next for the U.S. economy after President Donald Trump‘s tariff policy raised recession fears and battered consumer sentiment.

More meals at home could mean people are eating out less, showing Americans tightening their belts. That can spell bad news for gross domestic product, two thirds of which relies on consumer spending. A recession is commonly defined as two straight quarters of the GDP shrinking.

It can also underscore the souring outlook of everyday Americans on the national economy. The University of Michigan’s consumer sentiment index last month fell to one of its lowest levels on record.

Campbell’s remarks came after the soup maker beat Wall Street expectations in its fiscal third quarter. The Goldfish and Rao’s parent earned 73 cents per share, excluding one-time items, on $2.48 billion in revenue, while analysts polled by FactSet anticipated 65 cents and $2.43 billion, respectively.

Shares added 0.8% before the bell on Monday. The stock has tumbled more than 18% in 2025.

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