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Palin: American capitalism is ‘foreign to our president’

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Former Republican vice presidential candidate Sarah Palin told the Fox Business Network Tuesday that President Barack Obama doesn’t understand the American way of doing business because of his “background.”

“The President is not capable of giving the right message to deal with the problem we are facing with the bankruptcy that’s facing America if we don’t start living within our means,” she said. “The right message is that growing more debt won’t get us out of debt, and raising taxes in a time of economic woes in a bad economy is a bad idea.”

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“A lot of this has to do with his background, him having not been a part of the private sector and running a business or having to rely on making profit. That seems to be foreign to our President. His background and those he’s appointing don’t understand what America was built upon. His ideas are the antithesis of those things that created the prosperity in America.”

Watch this video from Fox Business’ Follow the Money, broadcast July 26, 2011.

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Vote-splitting fears raised in final days of Canada election

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In the dying days of what Justin Trudeau described as one of the "nastiest" election campaigns in Canadian history -- with plenty of mudslinging, attack ads and misinformation -- he played up fears on Thursday of vote-splitting handing victory to his rival Andrew Scheer and the Conservatives.

Policy announcements gave way to calls to vote strategically to keep Trudeau's Liberals in power and prevent a rollback of his progressive policies by the Tories.

Pollsters predict a minority government -- either Liberal or Conservative -- resulting from the October 21 ballot.

Attack ads accused Liberals of seeking to legalize hard drugs and the Tories of allowing assault rifles on Canadian streets -- claims that are flat out wrong or exaggerated, respectively.

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Japan emperor to proclaim enthronement in ritual-bound ceremony

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Japan's new Emperor Naruhito will formally proclaim his ascension to the throne next week in a ritual-bound ceremony, but the after-effects of deadly typhoon will cast a shadow over proceedings.

Naruhito officially assumed his duties as emperor on May 1, a day after his father became the first Japanese monarch to abdicate in 200 years.

But the transition will not be complete until his new role is officially proclaimed on Tuesday, in a series of events expected to be attended by foreign dignitaries from nearly 200 countries.

The event will come just over a week after Typhoon Hagibis slammed into Japan, killing nearly 80 people and leaving a trail of destruction.

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US imposes tariffs on EU goods, targeting Airbus, wine and whisky

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The United States imposed tariffs on a record $7.5-billion worth of European Union goods on Friday, despite threats of retaliation, with Airbus, French wine and Scottish whiskies among the high-profile targets.

The tariffs, which took effect just after midnight in Washington (0401 GMT), came after talks between European officials and US trade representatives failed to win a last-minute reprieve.

The WTO-endorsed onslaught from US President Donald Trump also comes as Washington is mired in a trade war with China and could risk destabilising the global economy further.

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