Joe Biden formally clinched the Democratic presidential nomination on Friday, setting him up for a bruising challenge to President Donald Trump that will play out against the unprecedented backdrop of a pandemic, economic collapse and civil unrest.
The former vice president has effectively been his party's leader since his last challenger in the Democratic primary, Bernie Sanders, ended his campaign in April. But Mr Biden pulled together the 1,991 delegates needed to become the nominee after seven states and the District of Columbia held presidential primaries on Tuesday.
Mr Biden reached the threshold three days after the primaries because several states, overwhelmed by huge increases in mail ballots, took days to tabulate results. Democrats award most delegates to the party's national convention based on results in individual congressional districts.
Mr Biden now has 1,993 delegates, with contests still to come in eight states and three US territories.
The moment was met with little of the traditional fanfare as the nation confronts overlapping crises. While Mr Biden has started to venture out more this week, the coronavirus pandemic has largely confined him to his home in Wilmington, Delaware, for much of the past three months.
The country faces the worst rate of unemployment since the Great Depression. And civil unrest that reminisces the 1960s has erupted in dozens of cities following the death of George Floyd, a black man who died when a white Minneapolis police officer knelt on Floyd's neck for several minutes even after he stopped moving and pleading for air.
It's a confluence of events that no US leader has faced in modern times, made all the more complicated by a president who has at times antagonised the protesters and is eager to take the fight to Mr Biden.
Mr Biden spent 36 years in the Senate before becoming Barack Obama's vice president. This is 77-year-old Mr Biden's third bid for the presidency and his success in capturing the Democratic nomination was driven by strong support from black voters.
He finished an embarrassing fourth place in the overwhelmingly white Iowa caucuses that started the nomination process in February. Mr Biden fared little better in the New Hampshire primary, where his standing was so low that he left the state before polls closed on election night to instead rally black voters in South Carolina.
His rebound began in the more diverse caucuses in Nevada but solidified in South Carolina, where Mr Biden defeated Mr Sanders, his nearest rival, by nearly 29 points. He followed that with a dominant showing three days later during the Super Tuesday contests, taking 9 of the 13 states.
Mr Biden's strong showing in states such as North Carolina, Virginia, Tennessee and Texas reinforced his status as the preferred Democratic candidate of African-American voters – but the relationship has not been without its strained moments. After a tense exchange with an influential black radio host, Mr Biden took sharp criticism for suggesting that African-American voters still deciding between him and Mr Trump "ain't black."
That comment, and protests that have spread nationwide, have increased pressure on Mr Biden to pick an African-American running mate. He has already committed to picking a woman as a vice presidential candidate.
Black voters are unlikely to back Trump over Mr Biden by a wide margin. A recent Fox News poll shows just 14 per cent of African-Americans who are registered to vote have a favourable opinion of the president compared with 75 per cent who favourably view Mr Biden.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2a)
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COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
England squads for Test and T20 series against New Zealand
Test squad: Joe Root (capt), Jofra Archer, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Jack Leach, Saqib Mahmood, Matthew Parkinson, Ollie Pope, Dominic Sibley, Ben Stokes, Chris Woakes
T20 squad: Eoin Morgan (capt), Jonny Bairstow, Tom Banton, Sam Billings, Pat Brown, Sam Curran, Tom Curran, Joe Denly, Lewis Gregory, Chris Jordan, Saqib Mahmood, Dawid Malan, Matt Parkinson, Adil Rashid, James Vince
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Spider-Man%202
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