Forgot Klara? Buyers depend on “purchase now, pay later”

As the hype surrounding the “buy now, pay later” trend subsides, some investors are betting they’ve found the next big thing.

Buy now, pay later Companies like Klarna and Affirm, which allow shoppers to defer payments to a later date or split purchases into interest-free installments, are under immense pressure as consumers become more cautious about the rising cost of living as higher interest rates lower the cost of borrowing drive up. They also face increasing competition as tech giant Apple enters the ring with its own BNPL offering.

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But venture capitalists are betting that a new generation of startups from Europe will be the real winners in this space. Companies like Mondu, Hokodo, and Billie have raked in heaps of cash from investors with a simple argument: Businesses — not consumers — are a more lucrative clientele for the “buy now, pay later” trend.

“There’s a huge opportunity out there in terms of ‘buy now, pay later’ for B2B [business-to-business] space,” said Malte Huffman, co-CEO of Mondu, a Berlin-based startup.

Huffman, whose firm recently raised $43 million in funding from investors including Silicon Valley billionaire Peter Thiel’s Valar Ventures, predicts the market for BNPL in B2B transactions in Europe and the US will reach $200 billion in the next few years will reach US dollars.

While services like Klarna provide credit for consumer purchases — say, a new pair of jeans or a flashy speaker system — B2B BNPL firms aim to process business-to-business transactions. It differs from some other existing forms of short-term financing such as working capital loans, which cover a company’s day-to-day operating expenses, and invoice factoring, where a company sells all or part of an invoice to gain quicker access to money owed.

A new generation of BNPL startups

COUNTRY TOTAL VC FINANCING
Scalapay Italy $727.5 million
billy Germany $146M
player United Kingdom $58.4M
hokodo United Kingdom $56.9M
World Germany $56.9M
Treyd Sweden $12.3M

Source: Crunchbase

Patrick Norris, general partner at private equity firm Notion Capital, said the market for B2B BNPL is “much bigger” than that for business-to-consumer, or B2C. Notion recently led a $40M investment in Hokodo, a UK-based B2B BNPL firm

“The average B2B shopping cart size is much larger than the average consumer shopping cart,” Norris said, adding that this makes it easier for companies to generate revenue and achieve scale.

“B2C” players falter

Shares of major consumer-facing BNPL players have fallen sharply in 2022 as concerns over a possible recession weigh on the sector.

According to a Wall Street Journal report, Swedish company Klarna is in talks to raise funds at a deep discount to its last valuation – from $46 billion in 2021 to $15 billion. A Klarna spokesman said the company does not comment on “speculation.”

US-listed fintech Affirm is down more than 75% year-to-date, while shares in Block, which bought Australian BNPL firm Afterpay for $29 billion, have fallen 57%. PayPal, which offers its own installment loan feature, is down 60% year-to-date.

BNPL launched during the coronavirus pandemic, offering shoppers a convenient way to split payments into smaller chunks with just a few clicks on retailers’ checkout pages. Now companies are also catching on to the trend.

“Companies are still struggling with liquidity amid deteriorating macroeconomic conditions and the ongoing supply chain crisis, so any opportunity to get money faster on a flexible basis will be attractive,” said Philip Benton, fintech analyst at market research firm Omdia.

Fintech is experiencing a 'healthy' retreat after a 'exuberant' two years, says SumUp CEO

Mondu and Hodoko have not publicly announced their valuations, but Italian Scalapay and German Billie were most recently valued at $1 billion and $640 million, respectively.

BNPL services are proving particularly popular with small and medium-sized businesses, which are also suffering from rising inflation. According to Mondu boss Huffman, SMEs have long been “underserved” by big banks.

“Banks can’t really shrink the ticket size to make it economical because the contribution margin they would get from such a loan doesn’t cover the costs involved,” he said.

“At the same time, fintech companies have proven that a more data-driven approach and a more automated lending approach can actually work and expand the addressable market.”

recession risk

BNPL products have been rebuffed by some regulators over concerns that they could push people into borrowing they can’t afford and a lack of transparency around late payment fees and other charges.

Britain has spearheaded the regulatory front, with government officials hoping to introduce stricter rules for the sector as early as 2023. However, Norris said business-focused BNPL companies face less regulatory risk than companies like Klarna.

“B2C regulation will provide much-needed protection for consumers and help them shop smart and stay out of debt,” he said. “In B2B, the risk of companies overspending on items they don’t need is negligible.”

However, one thing B2B players need to be wary of is the risk they are taking. With a potential recession on the horizon, a major challenge for B2B BNPL startups will be maintaining high growth while preparing for potential bankruptcies, Norris said.

“B2B is generally going to be high value and low volume, so naturally there will be higher risk appetite and affordability testing will be more important,” Omdia’s Benton said.

Three takeaways from Friday’s assembly, together with how defensive performs win on this two-sided market

How Powell and the Fed would possibly reply to the FedEx warning

CNBC’s Jim Cramer said on Friday that FedEx’s warning of worsening economic conditions suggests the Federal Reserve is doing better than expected on its inflation effort – meaning the central bank could take a step back after its meeting next week.

“If Fed Chair Jay Powell had seen our interview last night…he might discover he’s made more progress in controlling inflation than he realizes,” Cramer said.

“Maybe Powell will beat us right here with another 75 basis point raise and then say maybe it’s time to take a more measured approach to assessing how things are going,” he added.

The Mad Money host’s comments came after FedEx, a leading firm on the state of the economy, warned on Thursday of a slowdown in global shipments and an impending global recession.

Stocks closed on Friday as Wall Street digested the news, with the major averages posting their fourth week of losses in the past five weeks.

Cramer also previewed next week’s paytable. All earnings and revenue estimates were provided by FactSet.

Monday: AutoZone

  • Q4 2022 results release at 6:55am ET; Conference call at 10 a.m. ET
  • Estimated earnings per share: $38.5
  • Estimated Revenue: $5.16 billion

Cramer said he’s interested to know if company officials see an end to the car shortage.

Tuesday: NVIDIA

  • GTC Financial Analyst Q&A at 1:00 p.m. ET

Cramer said he’s staying with Nvidia despite the stock’s recent slumps. “That’s how Nvidia behaves – you get frighteningly fast moves down, followed by long rallies.”

Wednesday: General Mills, Salesforce, Lennar, KB Homes

General Mills

  • Q1 2023 results release at 7:00 am ET; Conference call at 9 p.m. ET
  • Estimated earnings per share: $1
  • Estimated Revenue: $4.72 billion

The company will likely be a winner because it is a top quality grocery stock in an uncertain economic environment, Cramer predicted.

Foreclosure

  • Investor Day at 4:00 p.m. ET

Cramer said that while he doesn’t expect to hear anything that might motivate him to buy the stock, he’s still bullish over the long term.

lennar

  • Q3 2022 results release at 4:30pm ET; Conference call Thursday at 11 a.m. ET
  • Estimated earnings per share: $4.86
  • Estimated Revenue: $8.97 billion

KB Home

  • Q3 2022 results release between 4:10 p.m. and 4:20 p.m. ET; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $2.66
  • Estimated Revenue: $1.88 billion

Cramer said he expects both Lennar and KB Home to soften due to rising mortgage rates.

Thursday: Costco, FedEx, Qualcomm

Costco

  • Q4 2022 results release at 4:15 p.m. ET; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $4.17
  • Estimated revenue: $70.8 billion

Cramer said he hopes the stock goes down so the Investing Club can buy more.

FedEx

While the company could share more information about its latest quarter, its trajectory is unlikely to change, having already reported disappointing results in its preliminary announcement, Cramer said.

Qualcomm

  • Automotive Investor Day at 3:00 p.m. ET

Cramer said the company will demonstrate the “new Qualcomm” during the event.

Disclaimer: Cramer’s Charitable Trust owns shares of Costco, Salesforce, Nvidia and Qualcomm.

Cramer's game plan for the trading week of September 19th

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing free to help you build long-term wealth and invest smarter.

“Unequal partnership” at conferences between Xi and Putin, says Prof

China is in the “dominant position” in its relations with Russia, and President Xi Jinping is no longer willing for Moscow “to do as it pleases,” according to a political analyst.

“It’s an unequal partnership and China has a dominant position in the relationship,” said Matthew Sussex, associate professor at Griffith University in Australia. He attributed this to the fact that Russia needs China more than China needs Russia.

The comments come a day after the Chinese leader met Russian President Vladimir Putin in Uzbekistan on the sidelines of the Shanghai Cooperation Organization in Samarkand. It was the first face-to-face meeting between the two leaders since Russia launched an unprovoked war against neighboring Ukraine in February.

During the meeting, Xi expressed Beijing is “ready to work with Russia” so they can support each other’s “core interests,” according to Chinese state-backed media Xinhua, which listed the areas of cooperation as trade, agriculture and connectivity.

However, Sussex pointed out that a Sino-Russian partnership does not necessarily have to be on an equal footing.

China’s President Xi Jinping (R), Russian President Vladimir Putin (L) and Mongolian President Ukhnaa Khurelsukh (unseen) hold a trilateral meeting on the sidelines of the Shanghai Cooperation Organization (SCO) leaders’ summit on September 15, 2022 in Samarkand. China and Russia’s relationship doesn’t necessarily have to be on an equal footing, said a Griffith University associate professor, Matthew Sussex.

Aleksandr Demianchuk | AFP | Getty Images

While China is buying up cheap oil from Russia, Beijing has consistently denied supplying arms to Moscow.

Sussex said this could be an indication that Beijing has “some real concerns and real irritation” with Russia over the conduct of the conflict.

According to an August New York Times report, the conflict has claimed about 34,000 lives so far, with Ukraine losing 9,000 soldiers, while Russia has lost an estimated 25,000 lives on the battlefield. Moscow has repeatedly described the attack on Ukraine as a “special operation”.

Still, the strategic partnership between China and Russia will continue, said Xiaoyu Pu, an associate professor at the University of Nevada.

He said the alliance is such that both powers can counteract “Western hegemony,” a term used to describe the West’s dominance — political, social or economic — in the global community.

“China needs Russia’s strategic type of partnership to counterbalance … Western hegemony, so China and Russia will continue to trade to maintain some sort of normal economic relationship,” he said.

“Symbolic Support”

Russia and China held a week-long joint military exercise in the Sea of ​​Japan last month with other troops including India, Laos and Mongolia. Both countries have conducted joint exercises in recent years, including in Russia’s Far East.

However, Pu pointed out that “the relationship has limits.”

“China will not provide military support to Russia, so I think China has its own reservations about Russia’s war,” he said. “This Russian-Chinese partnership is not some form of military alliance. It is more… [a] symbolic support.”

At their last face-to-face meeting in February, Xi and Putin sealed a partnership without borders. They pledged each other diplomatic and political support and agreed not to have any “forbidden” areas of cooperation.

The meeting between Xi and Putin shows that the Russian president has

Similarly, Sussex pointed to Beijing’s inhibitions, as evidenced by China’s unwillingness to supply arms to Russia.

Since early September, Ukraine has regained more than 6,000 square kilometers of territory from Russian control, including the second-largest city of Kharkiv, its president said.

“I think Xi will likely remain on the sidelines for the foreseeable future,” Sussex said. “And yet this causes significant damage to the Russians in warfare.”

“The ‘No Limits’ partnership has limits, and increasingly those limits are being set by Beijing rather than Moscow,” Sussex said. “China is no longer prepared for Russia to act as it pleases.”

CNBC Policy

Read more about CNBC’s political coverage:

Don’t fret darling, cameraman denies pressure on set

The Don’t Worry Darling cinematographer reiterates there’s nothing to worry about.

Matthew Libatique spoke about the rumors of on-set tension Olivia Wilde‘s psychological thriller and said that the alleged drama was “completely untrue”. Most of the speculation revolved around Wilde and his co-star Florence Pughwho reportedly had a fallout during filming of the film.

However, Libatique cleared up the gossip, saying there had been no red flags based on his own experience.

“That was probably the most harmonious set I’ve ever been on,” Libatique said on The Hollywood Reporter’s Behind the Screen podcast. “Olivia built a team that believed in her and she believed in everyone on set… When I hear there are rumors of bitterness on set, I dismiss it. It wasn’t obvious at all.”

When feuding ensued, Libatique wasn’t there to see it.

Tesla Nevada Gigafactory is working to cut back smoke air pollution from mosquito fires

Water tanker crews monitor a backfire during the Mosquito Fire in Foresthill, an unincorporated area of ​​Placer County, California, on September 13, 2022.

Josh Edelson | AFP | Getty Images

As a massive wildfire devastated tens of thousands of acres in California last week, smoke and ash poured into nearby towns, including Sparks – home of Tesla’s Nevada Gigafactory.

Tesla is taking steps to protect employees as much as possible from the smoke from the wildfire — known as mosquito fire — but the company has stopped furloughing workers.

According to an internal memo shared with CNBC, Tesla informed employees at the facility that the building’s heating, ventilation, and cooling (HVAC) system was set to a “recirculation mode to limit the amount of outside air drawn into the factory.” limit”.

The general air quality around the Tesla plant was classified as “unhealthy” to “very unhealthy” on Thursday and Friday with around 57 micrograms of particulate matter per cubic meter of air according to the US Air Quality Index.

When air quality is this bad, people of all ages are advised to severely limit outdoor activities and wear a mask outside to filter out smoke and other pollutants. They are also advised to keep windows closed to keep pollution out of their homes and offices.

Nevada Gigafactory HVAC filters have been upgraded to a MERV 13 level or higher over the past year to capture wildfire particulates. Those filters have been swapped out for new ones more frequently this year, Tesla told workers, and that should continue amid the smoky conditions.

Forest fires and air pollution also hit the region last year. For example, California’s Caldor Fire in 2021 burned more than 220,000 acres, destroying homes and land and resulting in unsafe air quality in surrounding areas, including Nevada.

According to the California Air Resources Board (CARB), “Climate change, driven primarily by the burning of fossil fuels, is increasing the frequency and severity of wildfires not only in California but around the world.”

Workers stationed outside or going outside frequently have been told to pick up N95 masks at an office in the Gigafactory and were also briefed on air quality this week.

According to the CalFire website, the mosquito fire was 20% contained late Friday, with cooler weather forecast for the weekend, which should help firefighters in their efforts to put out the blazes.

NYC Mayor Eric Adams is asking tech execs to maintain companies within the metropolis

At a private dinner Wednesday at New York’s swanky Le Pavillon, New York City Mayor Eric Adams urged tech leaders to keep their businesses in the city, even as industry leaders raise concerns with city officials about rising rents and a rise in violent crime.

Over steak, halibut, or pasta appetizers and plenty of wine, Adams made a “passionate plea for tech leaders to stay in New York and invest,” said one attendee. He told the more than two dozen tech leaders, “New York City needs and wants tech companies,” said another attendee, She added that city officials want tech companies “to help grow this city’s economy.”

Adams spokesman Fabien Levy confirmed the mayor had spoken to the technical executives, but said, “Mayor Adams wasn’t there for dinner.”

“While we don’t have private conversations, Mayor Adams always welcomes and encourages businesses to come to NYC,” Levy said in an email. “During his speech, he spoke about the importance of technology to NYC and government innovation.”

The select group of guests were “incredibly impressed with his accessibility and understanding of their industry,” said one of the attendees. The people describing the dinner declined to be identified as speaking about a private event.

Adam’s offer to encourage tech leaders and businesses to stay in New York comes as City Hall officials have privately filed complaints from tech leaders about skyrocketing rents and rising crime rates.

According to Bloomberg, average asking rents for active listings in much of Manhattan and Brooklyn rose 40% or more in the second quarter compared to the year-ago period. The NYC Rent Guidelines Board recently voted to increase the rent for those living in a rent-stabilized apartment, NBC New York reported.

New York City’s crime statistics have also been in flux since early July, when shootings across the city increased from a year earlier, the city said last month.

However, shootings in August were down about 30% from the same month last year, according to the city’s crime statistics. But there has been a year-on-year increase in other crimes over the same period, including burglaries, robberies and grand larceny.

Longtime angel investor Ron Conway moderated the event along with Josh Mendelsohn, a managing partner at technology-focused investment firm Hangar, Mike Ference, a co-partner at Hangar, and Julie Samuels, founder of New York tech advocacy group Tech:NYC. according to a list of hosts and participants provided to CNBC.

Famed chef Daniel Boulud, who runs the company that owns Le Pavillon, stopped by to chat, according to attendees.

“It was a nice way for [Adams] meeting technology CEOs,” Conway said in an interview, noting that it is important for technology leaders and companies to engage in civic engagement. Mendelsohn, Ference and Samuels did not respond to requests for comment. Representatives of all other individuals listed as attending the dinner declined to comment or did not respond to a request for comment.

Those who attended the dinner could also help Adams with his re-election in 2025. Records of city campaign funding show that Adams raised just over $850,000 for his 2025 re-election campaign.

Alan Patricof, co-founder of venture capital firm Greycroft, and Conway are among those who attended the dinner, which was a productive political fundraiser. Both helped raise at least $100,000 for President Joe Biden’s 2020 campaign for the White House, according to the bipartisan OpenSecrets.

Partial list of dinner attendees:

Alan Patricof, co-founder of Greycroft

Ron Conway, Founder of SV Angel

Julie Samuels, founder of Tech:NYC

Josh Mendelsohn, Managing Partner at Hangar

Mike Ference, partner at Hangar

Josh Vlasto, former Chief of Staff to former Gov. Andrew Cuomo and Hangar Advisor

Dave Gilboa and Neil Blumenthal, Co-CEOs of Warby Parker

Mario Schlosser, co-founder of Oscar Health

Valerie Jarrett, former adviser to Barack Obama and Lyft board member

Steve McDermid, CEO of Emerson Collective

Michael Zuckert, General Counsel at Silicon Valley Bank Financial Group

Das Abtreibungsverbotsgesetz von Lindsey Graham spaltet die GOP in der Zwischenbotschaft

Die Republikaner distanzieren sich vom neuen Vorschlag von Sen. Lindsey Graham, die meisten Abtreibungen nach 15 Schwangerschaftswochen zu verbieten, da die Demokraten das Gesetz als Beweis dafür hochhalten, dass die GOP versucht, die Abtreibung landesweit einzuschränken, wenn sie bei den Zwischenwahlen im November die Kontrolle über den Kongress gewinnt.

In Grahams Vorschlag sehen die Demokraten eine weitere Chance, ein Thema zu nutzen, das ihre Chancen auf die Abhaltung mindestens einer Kongresskammer zu erhöhen scheint.

Der Republikaner aus South Carolina führte das Gesetz weniger als drei Monate ein, nachdem der Oberste Gerichtshof Roe v. Wade niedergeschlagen hatte, wodurch der jahrzehntealte bundesstaatliche Abtreibungsschutz aufgehoben und die Abtreibung als Top-Thema für die Zwischenwahlen positioniert wurde.

Grahams Ankündigung am Dienstag löste eine neue Welle von Schlagzeilen zum Thema Abtreibung aus, als die Demokraten Schlange standen, um das Gesetz zu verurteilen, das den Zugang zu dem Verfahren in blauen Staaten stark einschränken würde. Es lenkte die Aufmerksamkeit von einer weiteren großen Schlagzeile des Tages ab, einem schlechter als erwarteten Inflationsbericht, der die Aktienkurse einbrechen ließ und als Schlag gegen die Behauptungen der Biden-Regierung einer sich erholenden Wirtschaft angesehen wurde.

Grahams Ansatz widersprach auch einer Strategie einiger Republikaner, einschließlich derer in hochkarätigen Rassen, nach dem Abtreibungsurteil des Obersten Gerichts in der Rechtssache Dobbs gegen Jackson Women’s Health Organization. Viele in der GOP haben argumentiert, dass die Bundesstaaten und nicht die Bundesregierung ein Abtreibungsgesetz erlassen sollten.

In Pennsylvanien, einer von wenigen Schlachtfeldstaaten, die bestimmen, welche Partei den Senat gewinnt, Der neue Gesetzentwurf veranlasste den republikanischen Senatskandidaten Dr. Mehmet Oz zu der Aussage, dass er die Bundesregierung davon abhalten würde, sich im Falle einer Wahl in die Abtreibungsregeln auf Landesebene einzumischen. Aber Herschel Walker, der Republikaner, der um den Sitz des amtierenden Senators Raphael Warnock in Georgia wetteifert in einem anderen kritischen Rennen, sagte, er würde Grahams Gesetzgebung unterstützen.

In beiden Staaten nutzten die demokratischen Kandidaten das Thema, um ihre GOP-Rivalen zu verprügeln.

„Oz muss uns sagen – ja oder nein, würden Sie diesen Gesetzentwurf unterstützen?“ Pennsylvania Lt. Gov. John Fetterman, der demokratische Senatskandidat des Staates, sagte in einer Erklärung am Donnerstagmorgen. “Ich gehe zuerst: Ich bin ein HÖLLE NEIN.”

Grahams Schritt verwirrte sogar einige republikanische Politikexperten. Einige Medien haben dies in einem entscheidenden Moment, in dem sich der Kampf um das Repräsentantenhaus und den Senat verschärft zu haben scheint, als ungezwungenen Fehler gewertet.

„Ich weiß nicht, warum er das getan hat“, sagte der in Georgia ansässige GOP-Stratege Jay Williams. Er schlug vor, dass sich der mittelfristige Pitch der Republikaner hauptsächlich auf die Wirtschaft konzentrieren sollte, wo Präsident Joe Biden niedrige Zustimmungswerte erzielt hat.

“Wenn Sie das Spiel gewinnen, wechseln Sie nicht die Strategie”, sagte Williams. “Wenn wir über etwas anderes reden, halte ich das für eine schlechte Idee.”

Seth Weathers, ein ehemaliger Trump-Wahlkampfhelfer in Georgia und politischer Stratege, sagte, er sei „ein wenig besorgt, dass die Art und Weise, wie es an die Öffentlichkeit verkauft wird, den Republikanern mittelfristig schaden könnte“.

Julianne Thompson, eine politische Strategin und selbsternannte Pro-Life-Republikanerin, sagte, die Wirtschaft sei „das Thema, das die Republikaner gerade gewinnen und auf das sie sich konzentrieren müssen“.

Nationale GOP-Gruppen haben Graham diese Woche kaum unterstützt.

Die Facebook- und Twitter-Seiten des National Republican Congressional Committee, des National Republican Senatorial Committee und des Republican National Committee haben Grahams Gesetzentwurf seit seiner Ankündigung weder erwähnt noch beworben. Laut der Meta Ad Library hat keine der Facebook-Seiten dieser Gruppen Anzeigen im Zusammenhang mit der Rechnung geschaltet.

Ein vom RNC verwalteter Twitter-Account twitterte am Mittwoch über Abtreibung, ohne Graham zu erwähnen, als er ein Paar Demokraten, die Gouverneurskandidatin von Georgia, Stacey Abrams, und den Abgeordneten Hakeem Jeffries, Vorsitzender des House Democratic Caucus aus New York, beschuldigte, sich geweigert zu haben, irgendwelche Grenzen der Abtreibung anzuerkennen Verfahren. Der NRSC tat am Mittwoch dasselbe und twitterte eine Kritik an der Abtreibungshaltung des demokratischen Abgeordneten Val Demings, der den GOP-Senator Marco Rubio um seinen Sitz in Florida herausfordert.

Graham versuchte, seine Gesetzgebung als Reaktion auf Vorschläge der Demokraten zur Kodifizierung des Abtreibungsschutzes auf Bundesebene zu formulieren. Ein solcher Gesetzentwurf, der im Mai als Reaktion auf einen Entwurf des Gerichtsurteils zu Roe vorgelegt wurde, scheiterte im Senat.

„Sie haben sich für einen Gesetzentwurf entschieden, der uns nicht in den Mainstream der Welt, sondern in eine Gruppe von sieben Nationen stellt, die Abtreibungen auf Verlangen ziemlich genau bis zum Zeitpunkt der Geburt erlauben“, sagte Graham am Dienstag auf einer Pressekonferenz.

Graham sagte, sein Gesetzentwurf, der das Verfahren in der 15. Schwangerschaftswoche verbietet und Ausnahmen für Vergewaltigung, Inzest und die Rettung des Lebens der Mutter enthält, würde die amerikanische Abtreibungspolitik auf ein Niveau bringen, das „ziemlich im Einklang mit dem Rest der Welt steht. “

„Und das sollte Amerika sein“, sagte der Senator.

Der Plan würde strengere staatliche Abtreibungsgesetze belassen. Der Abgeordnete Chris Smith, RN.J., hat dem Repräsentantenhaus einen Begleitgesetzentwurf vorgelegt.

Während der Titel von Grahams Gesetzentwurf darauf hindeutet, dass er nur „späte“ Abtreibungen verbieten würde, würde er das Verfahren nach weniger als vier Schwangerschaftsmonaten landesweit einschränken, eine Schwelle, die in das zweite Trimester fällt. Abtreibungen gelten laut der gesundheitspolitischen gemeinnützigen KFF typischerweise ab der 21. Schwangerschaftswoche als „später Termin“. Die Organisation stellt jedoch fest, dass dieser Ausdruck kein offizieller medizinischer Begriff ist und dass Abtreibungen in diesem Stadium selten angestrebt werden und schwer zu erreichen sind.

Grahams Gesetzentwurf hat praktisch keine Chance, den aktuellen Kongress zu passieren, wo die Demokraten im Repräsentantenhaus und im Senat knappe Mehrheiten halten. Die Republikaner hoffen, in der Halbzeit, wenn die Partei des amtierenden Präsidenten historisch unterdurchschnittlich abschneidet, beide Kammern zu übernehmen.

Aber einige Prognostiker bevorzugen jetzt die Demokraten, um die Kontrolle über den Senat zu behalten, eine Verschiebung, die teilweise auf das Urteil des High Court in Dobbs zurückgeführt wurde. Die Republikaner werden bevorzugt, um das Repräsentantenhaus zu übernehmen, obwohl sich die Chancen leicht in Richtung der Demokraten bewegt haben, nachdem dieses Urteil Ende Juni veröffentlicht wurde.

Die öffentliche Meinung des Obersten Gerichtshofs sank nach Dobbs, der Roe mit 5: 4 Stimmen mit einer Mehrheit, zu der drei vom ehemaligen Präsidenten Donald Trump ernannte Richter gehörten, stürzte. Das Recht auf Abtreibung ist inzwischen zu einem Top-Thema unter den Wählern geworden.

Eine im September durchgeführte und am Mittwoch veröffentlichte Fox News-Umfrage ergab, dass 57 % der Wähler die legale Abtreibung in allen oder den meisten Fällen unterstützen, ein 13-Punkte-Sprung gegenüber Mai.

Dieselbe Umfrage zeigte, dass der Widerstand der Wähler gegen die Dobbs-Entscheidung in den Monaten seit ihrer Veröffentlichung nur gewachsen ist, da die Ablehnung der Befragten die Zustimmung mit fast 2 zu 1 überwog. Und die Umfrage ergab, dass unter den Wählern, die Abtreibung als Hauptanliegen ansehen, 56 % den Demokraten in ihrem Repräsentantenhaus unterstützen würden, gegenüber 27 %, die den Republikaner wählen würden.

Einige Republikaner, darunter GOP-Kandidaten in entscheidenden Senatsrennen, haben Grahams neuen Vorschlag unterstützt.

„Ich war schon immer ein Pro-Life“, sagte Rubio, als er gefragt wurde, warum er das Gesetz unterzeichnet habe. Er drängte Reporter, die Demokraten zu fragen, welche Abtreibungsbeschränkungen sie gegebenenfalls unterstützen würden.

Senator John Thune aus South Dakota, der Republikaner Nr. 2 im Senat, sagte, er unterstütze die Gesetzesvorlage. Er sagte CNN, dass es die Erzählung ändert, dass die Republikaner ein totales Abtreibungsverbot unterstützen, „und den Kandidaten einen Platz gibt, an dem sie für etwas sein können, das ihre Ansichten widerspiegelt und nicht in die Erzählung der Demokraten passt“.

Der in Pennsylvania ansässige republikanische politische Stratege Christopher Nicholas wiederholte diese Ansicht und sagte CNBC, dass Grahams Gesetzesentwurf „die erste strategische Antwort von unserer Seite zu diesem Thema seit der Dobbs-Entscheidung“ sei.

„Es könnte die Presse zwingen, das zu bekommen [Democrats] anzuerkennen, dass die einzig akzeptierte Abtreibungsposition auf ihrer Seite die Abtreibung auf Verlangen ist”, sagte Nicholas.

Aber andere führende Republikaner weigerten sich entweder, Grahams Gesetzentwurf zu unterstützen, oder äußerten die Überzeugung, dass einzelne Staaten ihre eigenen Abtreibungsgesetze festlegen sollten.

„Ich denke, die meisten Mitglieder meiner Konferenz ziehen es vor, dass dies auf staatlicher Ebene behandelt wird“, sagte der Minderheitsführer im Senat, Mitch McConnell, der Republikaner aus Kentucky, der die Abtreibungsagenda der GOP festlegen würde, wenn die Partei im November die Kontrolle im Senat gewinnt, gegenüber Reportern Dienstag, als er nach Grahams Rechnung gefragt wurde.

Senator Rick Scott aus Florida, der Vorsitzende des NRSC, drückte in einem Interview am Mittwoch in Fox News keine Unterstützung für die Gesetzesvorlage aus.

„Nun, wenn Sie durch das Land reisen, konzentrieren sich die Menschen auf die Wirtschaft, die Bildung ihrer Kinder und die öffentliche Sicherheit“, sagte Scott, als er nach der Gesetzgebung gefragt wurde. „In Bezug auf Abtreibung konzentrieren sich die Demokraten eindeutig auf Abtreibung“, fügte er hinzu.

Um einen Kommentar zu den Reaktionen auf die Gesetzesvorlage gebeten, bemerkte Kevin Bishop, Sprecher von Graham, dass Rubio „an Bord gekommen“ sei.

Die Republikaner sind seit langem gegen die Abtreibung, und zahlreiche rote Staaten verhängten unmittelbar nach Roes Umkehrung pauschale Verbote des Verfahrens. Aber wie Umfragen zeigen, dass die Mehrheit der Amerikaner das Urteil des Gerichts missbilligt – und da Frauen Berichten zufolge Männer in den Wählerregistrierungen in Schlüsselstaaten überflügeln – haben viele in der GOP Mühe, den Demokraten entgegenzuwirken, die die Abtreibung zu einem wichtigen Teil ihrer Botschaft gemacht haben.

„Obwohl die Abtreibung nicht über die Zwischenwahlen entscheiden wird, war es ein Thema, für das die Demokraten Spenden sammelten und nutzten, um mehr Frauen für die Wahl zu registrieren“, sagte Thompson, der republikanische Stratege.

„Ich bin mir der Tatsache sehr bewusst, dass meine Partei eine bessere Botschaft zu diesem Thema braucht“, sagte sie, zusammen mit mehr weiblichen Führern, die über Abtreibung und verwandte Themen sprechen.

Der RNC hat Anfang dieser Woche Kampagnen empfohlen, „Gemeinsamkeiten“ zu Ausnahmen von Abtreibungsverboten zu suchen und die Demokraten zu ihren eigenen Ansichten zu drängen, berichtete die Washington Post am Mittwoch. Die nationale Partei ermutigte die Kandidaten auch, sich auf Themen wie Kriminalität und Wirtschaft zu konzentrieren, berichtete die Post.

„Die Umfragen müssen sie etwas lehren, weil ich heute nichts über Abtreibung höre“, sagte Rep. Jamie Raskin, D-Md., am Mittwoch auf dem Boden des Repräsentantenhauses. “Was ist ihre Position jetzt? Amerika will es wissen.”

Einige republikanische Kandidaten, die zuvor während der GOP-Vorwahlen harte Positionen zur Abtreibung vertreten hatten, haben ihre Ansichten gemildert oder gedämpft, als sie an allgemeinen Wahlen teilnehmen. Als Grahams Gesetzentwurf das Thema erneut in den Mittelpunkt rückte, stürzten sich die Demokraten.

„Herschel Walker hält es für ein Problem, dass unser Land kein nationales Abtreibungsverbot hat“, sagte Senator Raphael Warnock, D-Ga., über seinen republikanischen Rivalen in einem Tweet am Dienstag, bevor er ein Video von Walker veröffentlichte, in dem er dies sagte.

In Pennsylvania plante Fetterman eine Pressekonferenz mit OB/GYNs im Rathaus von Philadelphia, um das vorgeschlagene 15-wöchige Abtreibungsverbot zu kritisieren. Er drängte seinen Gegner Oz, Fragen zu seiner Haltung zu dem Gesetzentwurf zu beantworten.

Oz, der von Trump unterstützte berühmte Arzt, der Fetterman in den Umfragen hinterherhinkt, „ist mit drei Ausnahmen für das Leben: das Leben der Mutter, Vergewaltigung und Inzest“, sagte seine Sprecherin Brittany Yanick in einer Erklärung.

„Und als Senator möchte er sicherstellen, dass die Bundesregierung sich nicht in die Entscheidungen des Staates zu diesem Thema einmischt“, sagte sie.

The Phantom of the Opera is reportedly ending its Broadway run

The paper faces will no longer be on parade.

That’s right, The Phantom of the Opera is reportedly ending its storied run on Broadway. According to the New York Post, Andrew Lloyd Webber‘s Musical, which has been on Broadway for an impressive 34 years, could end as soon as December 31.

The report suggests this will be the perfect conclusion to the musical’s production as Phantom’s legendary ‘Masquerade’ number takes place on New Year’s Eve. But before you call your musical angel, the Post reports that it is also considering ending next year so that the musical can celebrate its 35th anniversary and have a party afterwards.

The New York Times reported a similar plan, noting that Phantom will celebrate its 35th anniversary on Broadway in January but will drop the chandelier for the last time on February 18.

E! News has reached out to Webber and the Phantom production for comment, but has received no response.

New ballot exhibits Republicans falling quick on abortion

A new poll shows that abortion has wiped out many of the GOP’s midterm election advantages and Republicans’ problems are only getting worse.

Greg Sargent of the Washington Post summed up the NY Times/Sienna Poll findings:

62 percent of registered voters reject the decision to overthrow Roe v. Wade off while 30 percent support her.

Fifty-two percent of registered voters strongly oppose the ruling overthrowing Roe, versus just 19 percent who strongly support it

57 percent of women strongly opposed the verdict, versus 15 percent who strongly supported it

Sixty-two percent of voters say abortion should always or mostly be legal, versus just 31 percent who think it should always or mostly be illegal.

Analysis: Republicans fail to steer the political conversation back to the economy and inflation

Republicans have built their entire campaign around Biden, the economy, and inflation, and have been unable to adjust their strategy as the political landscape has shifted. Sen. Lindsey Graham’s proposed national abortion ban has only made matters worse as Republican candidates are now being asked if they would support Graham’s bill.

Congressional Democrats have been at the White House in response to Roe’s ouster and have consistently topped Biden’s approval ratings.

With nearly two months to go before Election Day, Republicans are trying to hold out. There will be no red wave. If Republicans retake the House of Representatives, their majority will be smaller than expected, and Democrats are looking good to maintain or extend their Senate majority.

By overthrowing Roe, the Conservative majority on the Supreme Court has roused electoral voters and redesigned the midterm election.

Mr. Easley is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association