Latest news with #Lutnick
Global News
4 days ago
- Climate
- Global News
Southern Mexico braces for ‘extremely dangerous' hurricane Erick
Southern Mexico's Pacific coast was braced for a Thursday morning impact with the approach of hurricane Erick, which was upgraded to an 'extremely dangerous' Category 4 early Thursday, the U.S. National Hurricane Center said. The major storm threatens to unleash destructive winds near where the eye crashes ashore, flash floods and a dangerous storm surge, forecasters said. The Miami-based centre reported Erick was about 70 miles (110 kilometres) west-southwest of Puerto Angel, Mexico, and about 90 miles (145 kilometres) southeast of Punta Maldonado, Mexico. The storm had maximum sustained winds of 145 mph (230 kph) and was moving northwest at nine mph (15 kph). A hurricane is defined as Category 4 when wind speeds reach 130-156 mph (209-251 kph). Storm moves south on approach Late Wednesday, Erick's projected path crept south, closer to the resort city of Puerto Escondido in Oaxaca state, and centred on a sparsely populated stretch of coastline between the Oaxacan resort and Acapulco to the northwest. Story continues below advertisement President Claudia Sheinbaum said in a video message Wednesday night that all activities in the region were suspended and she urged people to stay in their homes or to move to shelters if they lived in low-lying areas. Waves were crashing onto the esplanade in Puerto Escondido by nightfall, swamping wooden fishing boats that had been pulled up there for safety. The beach disappeared under pounding waves and the rising tide had already reached the interiors of some waterfront restaurants. Last-minute purchases ended at nightfall as stores closed and the streets emptied. 1:07 NOAA is 'fully staffed,' ready for hurricane season: Lutnick Earlier in the day, fishermen in Puerto Escondido pulled their boats out of the water ahead of the storm's arrival. Some surfers continued to ride waves at the Zicatela beach, even with red flags up to warn people to stay out of the water. Story continues below advertisement The storm's course shift could be welcome relief for residents of storm-battered Acapulco. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The city of nearly 1 million was devastated in October 2023 by hurricane Otis, a Category 5 hurricane that rapidly intensified and caught many unprepared. At least 52 people died in Otis and the storm severely damaged almost all of the resort's hotels. Acapulco still scarred by Otis Acapulco residents said they were bracing for Erick's arrival with more preparation and trepidation because of the memory of the devastation wrought by Hurricane Otis two years earlier. Guerrero state Gov. Evelyn Salgado said via X that all movement in Acapulco and other beach communities was to be suspended at 8 p.m. Schools across the state were to remain closed for a second day Thursday. Carlos Ozuna Romero, 51, lost his restaurant at the edge of an Acapulco beach when Otis slammed the resort with devastating winds. On Wednesday, he directed workers storing tables and chairs. Story continues below advertisement 'Authorities' warnings fill us with fear and obviously make us remember everything we've already been through,' Ozuna Romero said in reference to Otis. 2:02 Canadian Hurricane Centre calling for an active storm season Elsewhere, workers nailed sheets of plywood over shop windows and stacked sandbags outside doorways. Cars lined up to fill their tanks and shoppers made last-minute purchases before rushing home. Verónica Gómez struggled through the streets of Acapulco with a large jug of water. 'We're all afraid because we think the same thing could happen,' said the 40-year-old employee of a shipping company. But she said she and others learned a lot from Otis. 'Now it's not going to catch us by surprise,' she said, holding out a bag of canned food as evidence. In Acapulco on Wednesday, there was a strong presence of National Guard and police in the streets, but most visible were trucks from the national power company. Crews worked to clear drainage canals and brush. Story continues below advertisement Rain could be Erick's legacy Forecasters said Erick was expected to lash Mexico's Pacific coast with heavy rain, strong winds and a fierce storm surge. Rains of up to 16 inches (40 centimetres) could fall across the Mexican states of Oaxaca and Guerrero, with lesser totals in Chiapas, Michoacan, Colima and Jalisco states, the centre's advisory said. The rainfall threatened flooding and mudslides, especially in areas with steep terrain. A hurricane warning was in effect from Acapulco to Puerto Ángel. A hurricane warning means hurricane conditions are expected in the area, and preparations to protect life and property should be rushed to completion, according to the hurricane centre advisory. Laura Velázquez, Mexico's national civil defense coordinator, said Erick was forecast to bring 'torrential' rains to Guerrero, Oaxaca and Chiapas in southern Mexico. The mountainous region along the coast is especially prone to mudslides with numerous rivers at risk of flooding. Story continues below advertisement Guerrero Gov. Evelyn Salgado said all schools would remain closed and the state had alerted all of the fishing and tourism operators to make their boats storm-ready. Acapulco's port closed Tuesday evening. Salgado said 582 shelters were set to receive people who might evacuate their homes. Sheinbaum warned in her daily briefing that those in the hurricane's path should heed government instructions and wait out the storm in their homes or designated shelters. Erick quickly doubled in strength Having doubled in strength in less than a day, Erick was churning through an ideal environment for quick intensification. Last year, there were 34 incidents of rapid intensification — when a storm gains at least 35 mph in 24 hours — which is about twice as many as average and causes problems with forecasting, according to the hurricane centre. —Sánchez reported from Acapulco, Mexico.
Gulf Insider
4 days ago
- Business
- Gulf Insider
Lutnick: Nearly 70,000 Sign Up for $5M ‘Trump Card' Visa
Nearly 70,000 people have signed up for the 'Trump Card,' a proposed U.S. visa program that would offer legal residency to foreign nationals willing to pay a $5 million fee to the United States, according to Commerce Secretary Howard Lutnick. Lutnick, who's spearheading the initiative, told the Financial Times on June 17 that 68,703 individuals—and counting—had joined the waiting list via a website launched just a week ago. The Trump Card, which he said 'will be made of gold,' prominently features President Donald Trump's image and the $5 million initiative is being pitched as a dual-purpose policy: a strategy to attract high-net-worth business leaders who would live in the United States, create jobs, and pay taxes, and a revenue-generating tool to help reduce the nation's nearly $37 trillion debt. 'They'll be wealthy, and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it's going to be extremely successful,' Trump said in February when he first announced the plan. Lutnick has suggested that the Trump Card could eventually replace the existing EB-5 Immigrant Investor Program, which allows foreigners to apply for a green card by investing at least $1.05 million—or $800,000 in designated high-unemployment or rural areas—and creating at least 10 full-time U.S. jobs. Aaron Grau, executive director of Invest in the USA (IIUSA), a trade association representing EB-5 stakeholders, described EB-5 as a 'proven model' for how targeted immigration policies can strengthen the U.S. economy. Click here to read more Also read: Trump Admin Considers Expanding Travel Restrictions To 36 Additional Countries
Yahoo
5 days ago
- Business
- Yahoo
Howard Lutnick Says Nearly 70,000 Register For $5 Million 'Trump Card' Visa As US Eyes $1 Trillion Windfall From Premium Immigration Plan
Nearly 70,000 people have registered interest in President Donald Trump's new $5 million 'Trump Card' visa program, Commerce Secretary Howard Lutnick announced Monday. The waiting list reached 68,703 applicants within hours of Lutnick's morning update showing 67,697 registrations. What Happened: The Trump administration launched last week, allowing foreign nationals to register for the premium residency program. The website features a gold card design displaying Trump's face, signature, an eagle, the Statue of Liberty, and the American flag. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — 'The card will be made of gold. It will be beautiful,' Lutnick told the Financial Times. He emphasized Trump's attention to aesthetic details, noting the president 'deeply cares about' how the investment vehicle looks and feels. The program targets business leaders and companies seeking U.S. legal residency for executives or employees. One unnamed global technology CEO indicated plans to purchase over 100 cards if the scheme reaches 'fruition,' viewing it as attracting 'the world's best and brightest' entrepreneurs, engineers, and scientists, according to the report. Lutnick plans to replace the existing EB-5 investor visa program, which granted approximately 14,000 visas last year with minimum investments up to $1.8 million. The Commerce Department expects to issue tens of thousands of Trump Cards this summer, with Lutnick projecting that 200,000 visas could generate $1 trillion in Treasury It Matters: Billionaire Trump donor John Paulson originally proposed the concept as a debt reduction mechanism for America's $36 trillion burden. The program represents a significant shift targeting high-net-worth individuals. Immigrant entrepreneurs comprise 22.6% of all U.S. entrepreneurs and founded 46% of Fortune 500 companies. Billionaire Mark Cuban previously supported the concept if corporations buy cards for high-earning employees, while Elon Musk was involved in developing the application software. Read Next: Are you rich? Here's what Americans think you need to be considered wealthy. Bezos' Favorite Real Estate Platform Launches A Way To Ride The Ongoing Private Credit Boom Image Courtesy: Joshua Sukoff / Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Howard Lutnick Says Nearly 70,000 Register For $5 Million 'Trump Card' Visa As US Eyes $1 Trillion Windfall From Premium Immigration Plan originally appeared on
AU Financial Review
5 days ago
- Business
- AU Financial Review
Waitlist grows for Trump's $7.7m golden visa
Washington | Nearly 70,000 people have signed up for the new golden Trump Card, a visa scheme led by Commerce Secretary Howard Lutnick that will grant foreigners legal residency in the United States at a cost of $US5 million ($7.7 million). Last week, Lutnick's department launched a website — — for would-be applicants to register their interest in the visa and to provide basic contact information, including their name, email address and region of the world. The card shown on the website features President Donald Trump's face and signature, as well as an eagle, the Statue of Liberty and the American flag. Financial Times
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Business Standard
6 days ago
- Business
- Business Standard
Trump's $5 mn Gold Card visa gets over 68,000 global sign-ups in 5 days
More than 68,000 people have already signed up for the Trump administration's new visa scheme known as the 'Trump Card', which offers foreign nationals a route to US residency in exchange for a $5 million investment, Financial Times reported, quoting commerce secretary Howard Lutnick. The initiative, first floated in February, was formally launched on June 12, 2025, when President Donald Trump announced the opening of the registration website via Truth Social. The page asks applicants to provide basic details, including name, email and region. 'FOR FIVE MILLION $DOLLARS, THE TRUMP CARD IS COMING!' Trump posted. 'Thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World.' The digital card shown online features Trump's face and signature, alongside the Statue of Liberty, a bald eagle and the American flag. 'It will be made of gold' Speaking to Financial Times, Lutnick said the commerce department's dashboard showed 67,697 people on the waiting list on Monday morning. 'Within an hour, the number had jumped to 68,703,' he added. 'The card will be made of gold,' said Lutnick. 'It will be beautiful. Donald Trump appreciates these kinds of things. He cares about how it looks. He cares about how it feels. I mean, he deeply cares about that, and thinks if you're going to buy and make this investment in America, we should give you something that is beautiful.' He added that the concept came from Trump donor and billionaire investor John Paulson, who proposed it as a way to bring in revenue and reduce the US government's $36 trillion debt. What the Trump Card offers • $5 million investment for green card privileges • A path to US citizenship, details not yet disclosed • A gold-plated digital card featuring Trump's image • Positioned as a premium alternative to the EB-5 investor visa • No public guidelines from US Citizenship and Immigration Services yet Earlier this year, Trump described the card as 'somewhat like a green card, but at a higher level of sophistication,' and said, 'Wealthy people will be coming into our country by buying this card.' Interest from Indian applicants Lutnick visited India in May and addressed the US-India Strategic Partnership Forum (USISPF) Leadership Summit in New Delhi, where he promoted the card to Indian investors. 'I expect the Trump Card will create really an enormous opportunity for people to have the ability to come to America,' said Lutnick. 'We are going to be incredibly successful in India.' Legal uncertainty over the scheme While the administration claims the visa programme does not require new legislation, legal experts have pointed out that any replacement of the EB-5 visa or creation of a similar route would need congressional approval. According to Reuters, an internal memo by the state department's legal team warned that the scheme carries a 'high risk' of being blocked by the Office of Management and Budget or challenged in federal court. The memo noted that charging $5 million — far beyond the cost of processing a visa — 'is contrary to settled Supreme Court precedent.' Nicholas Mastroianni III, president and chief marketing officer of US Immigration Fund, told Business Standard, 'The proposed Trump 'Gold Card' is not law. It has no legislative text, no USCIS framework, and no defined criteria around family eligibility, job creation, or adjustment benefits. In contrast, the EB-5 program is well-established, over 30 years old, grounded in federal law, with over 100,000 green cards issued.'
