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Trump wants bump stocks banned for guns

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Trump’s announcement came six days after a gunman killed 17 people, 14 of them students, at a high school in Parkland, Florida, while armed with an AR-15 assault rifle.

“We cannot merely take actions that make us feel like we are making a difference. We must actually make a difference,” Trump said at a White House event honoring first responders.

“After the deadly shooting in Las Vegas, I directed [Sessions] to clarify whether certain bump stock devices like the one used in Las Vegas are illegal under current law,” Trump said.

“That process began in December, and just a few moments ago I signed a memorandum directing the attorney general to propose regulations to ban all devices that turn legal weapons into machine guns,” Trump said.

“I expect that these critical regulations will be finalized, Jeff, very soon.”

The proposed regulators would first have to be published in the Federal Register and be subject to public comment before they could be adopted.

Semi-automatic weapons require a shooter to pull the trigger each time to fire a single round.

But when those weapons are outfitted with a bump stock, the gun’s recoil energy is used to “bump” the trigger into the shooter’s finger, making it fire much faster.

That makes the weapon more akin to machine guns, which are largely banned in the United States.

Read Trump’s memo:

THE WHITE HOUSE

Office of the Press Secretary

FOR IMMEDIATE RELEASE

February 20, 2018

February 20, 2018

MEMORANDUM FOR THE ATTORNEY GENERAL

SUBJECT: Application of the Definition of Machinegun to “Bump Fire” Stocks and Other Similar Devices

After the deadly mass murder in Las Vegas, Nevada, on October 1, 2017, I asked my Administration to fully review how the Bureau of Alcohol, Tobacco, Firearms and Explosives regulates bump fire stocks and similar devices.

Although the Obama Administration repeatedly concluded that particular bump stock type devices were lawful to purchase and possess, I sought further clarification of the law restricting fully automatic machineguns.

Accordingly, following established legal protocols, the Department of Justice started the process of promulgating a Federal regulation interpreting the definition of “machinegun” under Federal law to clarify whether certain bump stock type devices should be illegal. The Advanced Notice of Proposed Rulemaking was published in the “Federal Register” on December 26, 2017. Public comment concluded on January 25, 2018, with the Department of Justice receiving over 100,000 comments.

Today, I am directing the Department of Justice to dedicate all available resources to complete the review of the comments received, and, as expeditiously as possible, to propose for notice and comment a rule banning all devices that turn legal weapons into machineguns.

Although I desire swift and decisive action, I remain committed to the rule of law and to the procedures the law prescribes. Doing this the right way will ensure that the resulting regulation is workable and effective and leaves no loopholes for criminals to exploit. I would ask that you keep me regularly apprised of your progress.

You are authorized and directed to publish this memorandum in the “Federal Register”.

DONALD J. TRUMP

###

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Lufthansa, easyjet, airlines sell off as EU steps up travel restrictions

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A KLM flight attendant walks in the Schiphol Airport, the Netherlands.

EVERT ELZINGA | AFP | Getty Images

LONDON — Airline shares dropped on Friday after European governments announced further travel restrictions to fight growing Covid infection rates and highly-infectious variants.

European leaders agreed on Thursday to keep their borders open but to discourage any non-essential travel. This means citizens looking to move from areas where the virus is circulating at a very high level will be asked to have a negative test and undergo quarantine upon arrival at another member state.

France has already said that from Sunday it will require citizens coming from other EU countries to have had a negative PCR test 72 hours before departure.

“We are fully convinced that we must keep borders open in order to keep the internal market functioning, but at the same time we are also convinced that restrictions should be possible to implement for non-essential travels,” European Council President Charles Michel, who chairs meetings among the 27 EU leaders, said on Thursday evening.

These restrictions to travel are a challenge for the EU given its policy of free movement, where citizens, goods and services move freely from one country to the other. However, this approach has been severely hit by the pandemic, which is then reflected on how the traveling sector performs.

IAG, the owner of Iberia and British Airways, sank almost 4% on Friday. Lufthansa also dropped around 3%. Easyjet fell more than 4%.

The entire travel and leisure sector in Europe was down 2.8% during European lunchtime trading hours.

Europe ‘severely impacted’

Speaking to CNBC earlier this week, Mark Manduca, a travel and leisure analyst at Citigroup, said that any roadblocks, including test results, from the moment of leaving the house to arriving at the country of destination are a negative for the sector.

He said that the recovery in the next 12 months would be rather “uneven.” As a result of the travel restrictions, Manduca expects consumers to opt for longer holidays and fewer times per year rather than frequent long-weekends away.

Some European airlines, such as AirFrance and Lufthansa have received government subsidies to cope with the hit from the pandemic. However, there are questions about whether more support will be required in the coming months.

Lufthansa’s CEO Carsten Spohr said on Thursday that the company is currently losing 1 million euros ($1.2 million) every two hours. However, this is actually a “significant improvement,” he said, as the airline at one point in 2020 was losing the same amount of money every hour.

Earlier this month, the International Air Transport Association (IATA) said air passenger numbers stalled at the end of 2020.

Passenger traffic growth dropped by 70.3% year-on-year in November, the IATA said, with Europe being “the most severely impacted region due to strict containment measures.”

Vaccination passports

European leaders have started debating whether vaccination certificates should be used to promote traveling in the coming months.

The idea, pushed by Greece and other tourism-heavy nations, would allow those that have been vaccinated to travel anywhere in the EU.

However, the 27 heads of state decided on Thursday to take a decision on so-called vaccination passports at a later date.

“Rather than easing travel restrictions, the vaccination passport would simply create new borders across people and countries,” Alberto Alemanno, professor of EU law at H.E.C. business school, said via email.

“Given the highly differentiated roll-out of the vaccination campaigns across Member States, certain nationals are more likely to be vaccinated than others, as they are certain categories and age groups over others,” he added.

Lufthansa airplanes at waiting position on the first of a two-day strike at Frankfurt Airport on November 23, 2016 in Frankfurt, Germany.

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What investors are watching for as UBS prepares to kick off Europe’s bank earnings

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Business leaders must prioritize workers’ mental health in lockdown: CEO

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Rising coronavirus infection rates, and the accompanying wave of lockdowns across Europe, should prompt managers to spend more time considering their employees’ mental health, according to the CEO of staffing group Adecco

“Especially with … the second wave of lockdowns coming in, we need more emotionally intelligent leaders, because we see that many people are suffering,” Alain Dehaze told CNBC’s “Squawk Box Europe” on Monday.

Countries including the U.K., the Netherlands, Germany, Austria and France are currently in lockdown or have extended restrictions, with some expected to last beyond the end of the month. Lockdowns were first implemented last year when the coronavirus pandemic hit the region in early 2020, and have been reinstated as virus infection rates have risen during fall and winter.

Workers have reported worsening mental health during the coronavirus pandemic, according to an Adecco-commissioned survey of 8,000 office-based staff in eight countries, Dehaze added. 

“We have seen in our survey that 28% of employees … say their mental health got worse during the pandemic, and that only one in 10 managers exceeded employees’ expectations in supporting them. This soft skill will be extremely important to make sure that in this new world, managers and leaders are taking care of their people in the right way,” he said.

Adecco expects permanent, white-collar jobs to decline this year, such as payroll workers, with more of a focus on temporary roles.

“Employers have the challenge to have the right talent at the right time … but unfortunately, for some of them, [the pandemic] means they will have to lay off people and then it will be very important that government but also employers and individuals are investing in reskilling and upskilling themselves to remain competitive.”

Employees want to spend around half of their working time in the office and half at home (once restrictions are lifted), according to Adecco’s survey. “Human interactions are still valued. And these figures of 50-50 really transcends geography, generation, parental status. So, it’s really a kind of new universal ideal,” Dehaze said.

“Hybrid work is here to stay … it creates (a) more inclusive workplace, especially for people with disabilities, or working parents.”

Adecco’s revenue was down 28% in the second quarter of 2020 and it fell 15% in its third quarter and Dehaze said he expects its revenue to continue to improve as lockdowns become less restrictive. “Governments have learned from this first lockdown not to close everything and keep the economy going and protect the labor employment by doing ‘intelligent’ lockdown(s).”

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