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( MENAFN - AFP) Indian billionaire Gautam Adani on Saturday said "attacks" on his company made it "stronger", days after US prosecutors accused him and other officials of fraud. The November 20 bombshell indictment in New York accused the industrialist and multiple subordinates of deliberately misleading international investors as part of a multi-million-dollar bribery scheme. Addressing the allegations for the first time, the 62-year-old tycoon said his conglomerate was committed to "world-class regulatory compliance". "What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group," he said at an awards ceremony in the northern Indian city of Jaipur. Adani is suspected of having participated in a $250 million scheme to bribe Indian officials for lucrative solar energy supply contracts. The billionaire, however, said nobody from his company had been charged with any violation of corruption laws or "any conspiracy to obstruct justice". The US Justice Department said Adani, his nephew Sagar Adani, and one other official were charged "with conspiracies to commit securities and wire fraud and substantive securities fraud". Five others were charged "with conspiracy to violate the Foreign Corrupt Practices Act," the department said. On Thursday, Adani's company said it had suffered a loss of nearly $55 billion in market capitalisation across its 11 listed companies since the US indictment was filed. With a business empire spanning coal, airports, cement and media, Adani Group has weathered previous corporate fraud allegations, suffering a similar stock rout last year. The conglomerate saw $150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of "brazen" corporate fraud. Adani is a close ally of Hindu nationalist Prime Minister Narendra Modi and was at one point the world's second-richest man, and critics have long accused him of improperly benefitting from their relationship. MENAFN30112024000143011026ID1108941613 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Strictly Come Dancing viewers were absolutely ecstatic when Miranda Hart made a surprise visit to the BBC's live show. Spotted in the crowd during the musicals-themed week, the star was there to cheer on her fellow 'Miranda' alum Sarah Hadland. Joining Miranda in the audience was Patricia Hodge, the actress who played her mother on-screen, showing their support for Sarah as she and her dance partner Vito Coppola dazzled with a number from the musical Wicked - giving them a score of 38. Fans took to X, showing their excitement at seeing the actress in the crowd. One said: "MIRANDA HART IN THE AUDIENCE IM SCREAMING #strictly." Another excitedly shared: "MIRANDA HART AND PATRICIA HODGE IN THE AUDIENCE AHHH," while one more chimed in with hopes of a 'Miranda' reunion: "Miranda Hart is in the audience? Hell yeah, we might get a Miranda reunion again like when she turned up to Sarah and Vito's dance rehearsals!" A third said: "OMG MIRANDA AND PENNY!!" and a fourth: "Omg yes. Miranda is in the audience!!! I am gassed #Strictly." It comes after the actress and comedian, 51, astounded her fans last month after sharing that she had been "bedbound for years" due to chronic illness. In a candid admission Miranda opened up about how she was trapped at home for a period of time after Lyme disease went undetected and progressed into chronic fatigue syndrome. Revealing the depths of her struggles, Miranda recounted how she ultimately "hit rock bottom" following a complete "collapse" post her successful hit BBC sitcom wrapped up in 2015. "I was housebound and bedbound for years," she confessed. "I didn't have a job, I didn't have a social life. I didn't have any responsibilities or identities." Appearing on The One Show last month, chatting to hosts Alex Jones and Alex Scott, Miranda said that it's been a 'tough year'. She candidly shared: "It's not been the most pleasant few years. I've mostly been in bed with chronic illness and it's been a tough few years. It's nice to be back on TV and I feel very excited because once you've been in bed and housebound with a chronic illness that takes a long time to be diagnosed, you miss life so I'm thrilled to be here."A couple of ASX 200 shares are catching the eye with acquisition announcements on Monday. Let's now dig a little deeper into what they have announced: ( ) The first ASX 200 share that is is gold miner Capricorn Metals. According to the release, the company has entered into an agreement with (ASX: LAT) to acquire the prospective Sylvania Project tenements. These tenements cover approximately 1,740 square kilometres of land located next to the company's Karlawinda Gold Project (KGP) tenure in the Pilbara region of Western Australia. Capricorn Metals is paying $1.5 million for the tenements, which will be settled through the issue of shares. In addition, there is further consideration including the grant of a 1% net smelter royalty on the sale of all precious minerals and a 1.5% net smelter royalty in respect to the sale of non-precious minerals extracted from the Sylvania Project area. ( ) Another ASX 200 share that has this morning is Sonic Healthcare. The medical diagnostic services provider is paying out considerably more than Capricorn Metals is for its acquisition. According to the release, Sonic Healthcare has signed binding agreements to acquire for an enterprise value of 423 million euros (A$699 million). This comprises a maximum value equivalent to ~222 million euros in shares and the balance in cash LADR is one of the top five medical laboratory groups in Germany. In 2024, its revenues are expected to be ~370 million euros (~A$610 million) with EBITDA of ~50 million euros (~A$82 million). The release notes that transaction is expected to be immediately earnings per share (EPS) accretive, reaching high single-digit percentage accretion after three years (including synergies). Management believes the return on invested capital (ROIC) will significantly exceed Sonic's cost of capital once synergies are achieved, with a ROIC in excess of 11% per annum expected after three years. The ASX 200 share's CEO, Dr. Colin Goldschmidt, said: The partnership between LADR and Sonic Healthcare Germany is an important and substantial step for Sonic in Germany and Europe. We are honoured and excited to commence our collaboration with the Dr. Kramer family and their many local colleagues, teams and partners. Our closely aligned respective cultures, both based on a commitment to Medical Leadership and high-quality medicine, augur well for a successful integration which will further strengthen our service offering to clinicians and patients, and which will also enhance efficiencies in our operations. I warmly welcome the pathologists, clinicians and staff of LADR into the global Sonic Healthcare group.QDPL: An Alternative To The 4% Rule For Retirement
COLUMBIA, Mo. (AP) — Arkansas defensive end Landon Jackson was carted off the field and taken to a hospital with a neck injury late in the first half of Saturday's game at No. 24 Missouri. Jackson appeared to injure his neck while trying to tackle Missouri running back Jamal Roberts. Medical personnel tended to Jackson for approximately 10 minutes before he was placed on a backboard and driven to a waiting ambulance. Jackson gave a thumbs-up sign as he was carted off the snow-covered field. Arkansas athletic director Hunter Yurachek said Jackson had movement in his arms and legs but was experiencing pain in his neck. He said Jackson was taken to the hospital as a precaution. Jackson leads the Razorbacks with 9 1/2 tackles for loss and 6 1/2 sacks, and is considered a potential first-round pick in next year's NFL draft. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP college football: and David Solomon, The Associated PressIn Maharashtra, caste is the very foundation of the political battleground. The OBCs, who constitute 38 percent of the state’s population , played a decisive role in this election, won by the Mahayuti alliance of the BJP, the Shiv Sena, and Ajit Pawar's NCP. Yet, this isn’t a homogeneous bloc. The Kunbis, Vanjaris, and Dhangars each have distinct concerns and loyalties. The BJP’s ability to make inroads into these communities through strategic representation paid off, cementing its dominance in key regions. The Maratha community, long regarded as the backbone of Maharashtra politics, was another key factor in the Mahayuti’s victory. Despite agitation over the reservation and dissatisfaction with unresolved demands, the BJP managed to retain a significant share of Maratha votes through symbolic gestures, influential leadership, and careful engagement. The Congress-NCP alliance, which has traditionally relied on Maratha support, failed to capitalise on this discontent. Their inability to offer a cohesive alternative left many voters opting for the BJP-led alliance, signalling a significant shift in one of the opposition’s strongholds. The Dalit vote, particularly among smaller communities like Mangs and Chambhars, also appeared to vote for the BJP. While the Mahars remain a loyal base for Ambedkarite and opposition politics, the BJP’s targeted outreach ensured meaningful traction among non-Mahar Dalit groups. This strategic fragmentation of traditional vote banks further added to the MVA’s challenges, leaving them with fewer reliable constituencies. In regions like Vidarbha and Marathwada, known for agrarian distress and rural vulnerabilities, the MVA’s reliance on anti-incumbency sentiment failed to gain traction, as the BJP’s campaign successfully turned the narrative toward long-term development and stability. Even in Western Maharashtra, historically dominated by the NCP, the Mahayuti breached traditional bastions, underscoring the opposition’s waning influence. The Urban-Rural Divide: Different Stories, Same Discontent Maharashtra’s urban and rural voters often inhabit vastly different realities, and this election has brought those contrasts into sharp focus. In urban areas like Pune, Mumbai, and Nagpur, issues such as infrastructure , housing, and inflation dominated conversations. The BJP, with its emphasis on development and big-ticket projects, has managed to retain its stronghold in these regions. Voters in cities largely rallied behind the promise of continued growth, despite occasional dissatisfaction over stalled projects and uneven economic benefits. The Mahayuti’s appeal to middle-class aspirations and its targeted engagement with youth helped solidify its urban base, leaving little room for the opposition to make inroads. In rural Maharashtra, the narrative was shaped by agrarian challenges and economic distress. Farmers, faced with an opposition alliance that failed to present a unified or credible alternative, appeared to have placed their trust in the Mahayuti’s promises of infrastructure and financial security . The Congress-NCP alliance, which had counted on rural discontent to regain ground, was unable to convert grievances into votes, as past governance records undercut their claims of reform. Women Voters and Welfare Schemes: A ₹1,500 Fix or Political Band-Aid? Women voters are emerging as a decisive force in Maharashtra’s elections, and political parties are tailoring their strategies to appeal to this growing demographic. Welfare schemes like the Ladli Behen Scheme, offering ₹1,500 monthly aid to women aged 21–65, have been a focal point of outreach. On the surface, these schemes promise financial independence, especially for women in rural areas burdened by rising costs and limited opportunities. However, a closer look reveals a more complex story. According to the Access (In)Equality Index (AEI) by CNES and OP Jindal Global University, the scheme scores high on financial inclusion, providing immediate cash relief to women and families in need. Yet, its broader impact remains limited. Maharashtra still struggles with systemic challenges—only 22.4% of households have health insurance, and dropout rates among rural girls remain alarmingly high. While schemes like Ladli Behen alleviate short-term financial distress, they fail to tackle the underlying issues of education, healthcare, and sustainable employment opportunities that could empower women in the long term. ADVERTISEMENT REMOVE AD At the core of Jharkhand’s electoral dynamics lies its tribal population, which isn’t just another voting bloc—it’s the lifeblood of the state’s politics. With tribals making up 26.21% of the population and holding sway over 28 reserved assembly seats, they wield unparalleled influence. The JMM, under Hemant Soren’s leadership, has long been synonymous with tribal identity and empowerment . This connection is no accident—it’s the product of decades of grassroots engagement, cultural preservation, and policies that resonate deeply with the tribal community. The 2019 elections underscored the JMM’s dominance in this arena, with the party winning 19 tribal seats and its ally Congress securing six, while the BJP managed a paltry two. This year, the BJP has pulled out all the stops to try and break this stranglehold. From poaching tribal leaders like Champai Soren to pushing Hindu-centric narratives aimed at polarizing the electorate, the BJP’s strategy has been aggressive but ultimately ineffective. The BJP’s tactics, particularly in tribal-dominated regions like Kolhan and Santhal Parganas , often come across as tone-deaf. While the party tries to pit tribal identity against perceived external threats, it overlooks the deep-rooted loyalty tribal voters feel toward the JMM. Hemant Soren’s leadership continues to symbolize the safeguarding of tribal autonomy and culture, a legacy the BJP has yet to match in substance or trust. Women Voters: INDIA Bloc’s Winning Formula Women voters are playing an unprecedented role in this election, with their numbers surpassing men in 32 constituencies. Both the JMM and BJP recognize the significance of this demographic, but the INDIA bloc has clearly struck a more resonant chord. The JMM’s “ Maiyan Samman Scheme ,” which provides ₹1,000 monthly to women aged 18-60, has proven to be a game-changer in rural Jharkhand, where financial relief can have a transformative impact. But beyond the policy, the JMM has found an unexpected electoral weapon in Kalpana Soren. Her energetic rallies, filled with enthusiastic female supporters, have not only added a personal touch to the campaign but also humanized the JMM’s outreach to women. Kalpana’s speeches blend empowerment with relatable narratives of cultural pride and economic support, creating a powerful emotional connection with women voters . Her presence has helped frame the JMM as a party that doesn’t just make promises but listens, understands, and delivers. Meanwhile, the BJP’s “Gogo Didi” programs and other self-help group initiatives, while thoughtful, lack the authenticity and grassroots connection of the JMM’s campaign. For rural women, who make up the bulk of this voter base, the BJP’s efforts often come across as policy on paper, whereas the JMM’s initiatives feel tangible and rooted in their lived realities. ( Deepanshu Mohan is a Professor of Economics, Dean, IDEAS, Office of Inter-Disciplinary Studies, and Director of Centre for New Economics Studies (CNES), OP Jindal Global University. He is a Visiting Professor at the London School of Economics, and a 2024 Fall Academic Visitor to the Faculty of Asian and Middle Eastern Studies, University of Oxford. Ankur Singh is a Research Assistant with the Centre for New Economics Studies, OP Jindal Global University and a team member of its InfoSphere initiative. This is an opinion article and the views expressed above are the author’s own. The Quint neither endorses nor is responsible for them.) (At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.) 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LinkedIn co-founder Reid Hoffman warns against Elon Musk’s ‘conflict of interest’ in setting AI policiesSaquon Barkley has become the Shohei Ohtani of the NFL. There’s no better home run hitter playing football right now. Barkley had touchdown runs of 72 and 70 yards for the Philadelphia Eagles in a 37-20 victory over the Los Angeles Rams on Sunday night. He now has five runs of 50-plus yards this season and is on pace to break Eric Dickerson’s single-season record of 2,105 yards set in 1984. Barkley’s historic performance against the Rams — his 255 yards set a team record — captivated a national audience and turned him into a fan favorite for the AP NFL MVP award. He’s not the betting favorite, however. Josh Allen has the best odds at plus-150, according to Bet MGM Sportsbook. Two-time MVP Lamar Jackson is next at plus-250 followed by Barkley at plus-400. Running backs have won the award 18 times, including three-time winner Jim Brown, who was the AP’s first NFL MVP in 1957. Quarterbacks have dominated the award, winning it 45 times. Only three players who weren’t QBs or RBs have been MVP. It takes a special season for a non-QB to win it mainly because the offense goes through the signal caller. Quarterbacks handle the ball every offensive snap, run the show and get the credit when things go well and the blame when it doesn’t. Adrian Peterson was the most recent non-QB to win it when he ran for 2,097 yards and 12 touchdowns for the Minnesota Vikings in 2012. Playing for a winning team matters, too. Nine of the past 11 winners played for a No. 1 seed with the other two winners on a No. 2 seed. The Vikings earned the sixth seed when Pederson was MVP. Barkley is a major reason why the Eagles (9-2) are leading the NFC East and only trail Detroit (10-1) by one game for the top spot in the conference. Does he have a realistic chance to win the MVP award? Kicker Mark Moseley was the MVP in the strike-shortened 1982 season when he made 20 of 21 field goals and 16 of 19 extra points in nine games for Washington. If voters once selected a kicker, everyone has a chance, especially a game-changer such as Barkley. Defensive tackle Alan Page was the MVP in 1971 and linebacker Lawrence Taylor won it in 1986. Running back Christian McCaffrey finished third in voting last year and wide receiver Justin Jefferson placed fifth in 2022. The Offensive Player of the Year award and Defensive Player of the Year award recognize the best all-around players on both sides of the ball, allowing voters to recognize non-QBs if they choose. Wide receivers and running backs have won the AP OPOY award seven times over the past 11 seasons. McCaffrey was the 2023 winner. The AP’s new voting format introduced in 2022 also gives non-QBs a better opportunity to get MVP recognition. Voter submit their top five picks for each award, with a weighted point system. Previously, voters made one choice for each award. A nationwide panel of 50 media members who regularly cover the league vote for MVP and seven other awards. The awards are based on regular-season performance. Clinching scenarios The Chiefs (10-1) and Bills (9-2) already are in position to lock up postseason berths right after Thanksgiving. Kansas City clinches a playoff berth with a win over Las Vegas on Black Friday and a loss by Miami on Thursday night, or a win plus a loss by Denver on Monday night. Buffalo can wrap up a fifth straight AFC East title with a victory over San Francisco on Sunday and a loss by the Dolphins.South Korea's democracy held after a 6-hour power play. What does it say for democracies elsewhere?
His Majesty’s Ankara visit forges stronger tiesThe San Diego Unified School Board is weighing recommendations to build 1,000 income-restricted apartments on five of its properties across the city, with a goal of housing 10% of its employees within the next decade, in what would mark a significant expansion of the district’s decade-old real estate strategy. “The time has come for us to set some bold but achievable long-term goals together,” Lee Dulgeroff, the district’s facilities executive director, said at a board workshop last week. School districts around California are increasingly pursuing the idea of building affordable housing for employees as a way to improve recruitment and retention amid a worsening housing crisis. That idea has become the hallmark of San Diego Unified’s ongoing real estate strategy , in which it has recruited developers to build housing on district-owned land via joint-occupancy lease agreements. Under the arrangement, the district gets to keep valuable land under its ownership while it collects a share of the developer’s revenue. And the money it collects is unrestricted — the district can use it for any part of its budget, unlike many kinds of federal and state funding. About 50 low-income families of district employees are already living in the district’s mixed-income Livia development in Scripps Ranch, which otherwise contains primarily above-market-rate apartments. And in April, the district accepted a developer’s proposal to build 270 rent-restricted units for low- and moderate-income families of district staff, as well as 57 units for seniors, at the former site of Central Elementary in City Heights. District leaders are hoping to add more units to their housing stock soon. In a recent staff survey of interest in affordable housing, most reported that they had a low to moderate household income, were interested in district-provided housing and struggled to afford housing costs. This week the school board heard housing recommendations drawn up by the LeSar Development Consultants firm that suggest the district could build 1,000 income-restricted apartments at five district-owned sites, all of which currently house administrative buildings or vacant land. Those sites are: —Eugene Brucker Center in University Heights: 13.5-acre property that could have 375 moderate-income units and 125 low-income units —Ballard Center in Old Town: 4.4-acre property that could have 234 moderate-income units —Revere Center in Linda Vista: 6.2-acre property that could have 90 low-income units —Instructional Media Center in Serra Mesa: 1.9-acre property that could have 81 moderate-income units —2101 Commercial Street property in Logan Heights: a 0.4-acre property that could have 101 low-income units The moderate-income units would be for district employees whose families have household incomes between 80% and 120% of San Diego County’s area median income, which is $100,400 for an individual and $143,400 for a family of four, according to Craig Adelman, senior principal at LeSar Development Consultants. The low-income units would be for employees with household incomes of up to 80% of the area median income, or up to $84,900 for an individual or $121,250 for a family of four. But realistically, to compete for affordable housing aid, families would actually need to make no more than 60% of the area median income, or up to $63,680 for an individual and $90,940 for a family of four, Adelman said. Adelman also suggested two example models for financing the district’s housing. One would primarily use low-income tax credits, plus long-term bank mortgage and state and local funding, to build low-income housing. That plan could come out to a development cost of about $719,000 per unit. The other model would mostly be financed through a permanent loan and could cost about $430,000 per unit to build. The district has also set aside about $206 million in bond funding from its Measure U, which voters passed two years ago, just for housing. Planning for district housing is complex, Adelman said, because funding sources such as public affordable housing programs and the district’s bond funding cannot always be mixed to fund the same projects. He also said it’s difficult to mix low- and moderate-income housing because of strings attached to low-income housing aid programs. Adelman added that there have been “extreme” increases in construction costs in recent years that exceed the pace of inflation. The affordable housing programs available are mainly focused on low-income families and don’t really offer housing help for moderate-income families, which is a major need in San Diego Unified. And affordable housing programs, such as tax-exempt affordable housing bonds, have become very competitive in California, Adelman added. LeSar’s plans only discussed housing for employees — but student school board Trustee Quinton Baldis said the district should also consider housing for students and their families. Many students’ families are experiencing housing insecurity or leaving the district because it’s too expensive. “I truly feel like providing homes and affordable housing for our students is aligned more with our goals and guardrails as a district,” Baldis said. In response, Dulgeroff suggested the district could consider housing for students and families in the future. He also suggested that housing could even be built on existing school properties. Board Trustee Cody Petterson said he is concerned about the idea of segregating the district’s housing developments by income, with some developments entirely for low-income families — primarily non-teacher employees — in certain neighborhoods and projects for higher-earning families in others. “That to me is, for lack of a better word, toxic,” Petterson said. Jennifer LeSar, CEO of the LeSar firm, instead urged the board to move forward with the plans and see what developers propose. “We have a really smart development community in San Diego and in California,” LeSar said. “I would say you should start with what you want and not solve all the problems. And the developers will tell you.” ©2024 The San Diego Union-Tribune. Visit sandiegouniontribune.com . Distributed by Tribune Content Agency, LLC.Social media users, brace yourselves. Your timeline is about to be flooded with high school coaches looking to fill out their 2025 schedules. Such tends to happen whenever the TSSAA releases its region football schedules, especially whenever realignments are involved. William Blount’s move down to 5A left a void in Region 1-6A, a void which evidently won’t be filled. With a five-team Big East Conference, that leaves each school with six non-region games to be filled. Thankfully, the rivalry between Science Hill and Dobyns-Bennett didn’t get moved. It’ll still be in Week 11 for the next two years anyway, this time on Thursday, Oct. 30. Other than that game, Dobyns-Bennett must build the rest of its schedule around three straight region games against Morristown East, West Ridge and Jefferson County from Sept. 19 to Oct. 3. The Indians requested an open date following the Jeff County game, leaving two more weeks to fill before playing Science Hill first straight non-conference tilts to open the year. Science Hill is scheduled to play Morristown East and Jefferson County back-to-back weeks also — Weeks 6 and 7. That means the Hilltoppers won’t play a region game until Sept. 26 — also the date West Ridge opens Big East play against D-B. The Wolves close the 2025 and 2026 regular seasons with three straight region games. Not to mention, only one team in the Big East will miss the Class 6A playoffs. Of course, few teams have it as tough as Happy Valley and the Warriors’ Region 1-2A rivals — South Greene, West Greene and Cumberland Gap. All four teams are already in the playoffs under the current format. And while Happy Valley can presumably fill its non-region slate with Carter County rivals Hampton, Unaka and Cloudland, that still leaves four non-conference openings. BACK IN ITS RIGHTFUL PLACE What better lead-in to that tradition rich rivalry between D-B and Science Hill than the Musket Bowl? That’s right, in 2025, the annual meeting between Daniel Boone and David Crockett returns to its rightful October place. It’ll stay at Crockett this fall, except this time, the teams will meet Friday, Oct. 24 (Week 10). Granted, the Hawkins County Super Bowl might have something to say about that, as Cherokee and Volunteer meet in Church Hill that same night. On that note, while Regions 1-5A and 1-3A remained unchanged with five region contests and five more out-of-conference, Region 1-4A is in a completely different situation. Each team there needs only three non-region games after Seymour joined the conference. Same in Region 1-1A for that matter. Cloudland opens the year with three non-conference games in as many weeks, finishing the year with seven straight region contests. This became possible after Sunbright relocated from Region 2, and Hampton moved down from Class 2A, of course. THANKSGIVING BASKETBALL CONTINUES With Greeneville falling 28-14 at Anderson County in the Class 4A quarterfinal round, the Tri-Cities area has only one football team remaining — Rye Cove. The War Eagles entertain Eastside in the Region 1D championship round Friday night at the Eagles’ Nest. Thanksgiving week also means tournament time. In addition to the Hardee’s Classic, currently taking place at David Crockett, two other local tournaments also allow teams to get some games in this week. Monday marked opening night for the Food City Thanksgiving Classic at Sullivan East, this year consisting of just boys teams. On the girls side, Happy Valley is hosting the Valley Forge Auction Thanksgiving Classic, which begins with four games on Wednesday afternoon and concludes Saturday. On the web, these tournament schedules can found on the left (desktop) or below (mobile). In print, they can be found on page B2.The end of an Eras tour approaches, marking a bittersweet moment for Taylor Swift fans
U.S. Supports Lebanese Army in Historic Ceasefire
Monetary easing by central banks across developed and emerging economies trundled along in November with markets warily gearing up for a new year that could bring tectonic shifts to the global policy making backdrop. Four of the six central banks overseeing the 10 most heavily traded currencies that held meetings in November lowered their lending benchmarks. Central banks in New Zealand and Sweden each shaved 50 basis points off their interest rates while the U.S. Federal Reserve and the Bank of England delivered 25 bps cuts. Policy makers in Australia and Norway decided to leave interest rates unchanged, while their peers in Switzerland, Japan, Canada and at the European Central Bank held no rate setting meetings. The outcome of the U.S. election, which will see a return of Donald Trump to the White House on January 20, is expected to fuel fresh trade tensions that could boost U.S. inflation and curtail growth. The latest moves come ahead of some potentially sizeable shocks for the global economy, with politics set to become increasingly unpredictable, said James Rossiter, head of global macro strategy at TD Securities. “The name of the game in 2025 is now uncertainty, especially in the U.S. and Europe,” said Rossiter. “Central banks are going to have to adapt their strategies quickly.” The latest moves across G10 central banks brings the year-to-date tally of rate cuts to 650 bps, nearly matching the 2020 total of 655 bps, after major central banks delivered no cuts between 2021 and 2023. Across emerging markets, 12 of the Reuters sample of 18 central banks in developing economies held rate-setting meetings in November. South Korea, Mexico, South Africa and the Czech Republic delivered 25 bps cuts each while China, Indonesia, Turkey, Malaysia, Israel, Hungary and Poland kept rates unchanged. Brazil extended its rate hiking cycle, lifting its key interest rates by 50 bps. S&P Global Ratings emerging market chief economist Elijah Oliveros-Rosen said that a changing outlook of fewer rate cuts from the Fed in the wake of the U.S. election would shape policy making in developing economies. “We also expect greater caution among most major EM central banks, and we’ve therefore toned down our expectations for their interest rate cuts in 2025,” Oliveros-Rosen said in a note to clients. “On balance, we expect a stronger U.S. dollar against most EM currencies in 2025 than in 2024.” The latest moves in emerging markets took the tally of cuts since the start of the year to 1,810 bps across 46 moves – outstripping the total of 1,765 bps of easing in 2022, after 945 bps in 2023. Total hikes for emerging markets so far in 2024 stood at 1,350 bps. Source: Reuters (Reporting by Karin Strohecker and Sumanta Sen, Editing by William Maclean)Maksym Tkachenko, a Ukrainian MP from Servant of the People party, states that over 150,000 internally displaced people (IDPs) have returned to the temporarily occupied territories of Ukraine, with approximately one-third of those who fled during the full-scale war returning to Mariupol. Source: Maksym Tkachenko, member of the parliamentary Committee on Human Rights, De-occupation and Reintegration of the Temporarily Occupied Territories of Ukraine, National Minorities and Interethnic Relations, in an interview with Ukrinform news agency Quote: "Already, around 150,000 internally displaced people have returned to the temporarily-occupied territory. According to available data, 200,000 Mariupol citizens fled their city to escape the conflict that Russia had brought to our land. At the same time, one-third of them returned home, to Mariupol, to live under occupation. It appears that there are around 67-70,000 people there. I think those are horrible figures." Details: The main reason for the return of internally displaced individuals to the occupied territories, according to Tkachenko, is that they were unable to start a new life in Ukrainian-controlled territory because they "did not receive proper assistance from the state – no housing, no social support, compensation, work, etc." According to him, a big percentage of IDPs "could not find work because of the sceptical attitude of employers towards them, and all those offers that are provided to IDPs are actually very low-paid." He asserted that these people face prejudice in the labour market. According to Tkachenko, their incomes seldom reach UAH 8,000-12,000 (US$194 to US$290), while the cost of renting housing in Ukraine's relatively safe districts begins at UAH 10,000. At the same time, when IDPs start working, they lose their entitlement to receive state assistance to cover the expense of renting accommodation. At the same time, there are very few sites that provide "acceptable living conditions" for free. Tkachenko stated that there are currently over 5 million internally displaced people in Ukraine. "We're talking about about five million people. Why approximately? Because, on the one hand, the number of IDPs has increased due to the enemy's advancement... On the other hand, the number of IDPs is decreasing as individuals return home, in particular to temporarily occupied territories, or travel overseas. We are losing people because the state is delaying support and its volume is insufficient," Tkachenko said. Support UP or become our patron !
COLUMBUS, Ohio (AP) — Dominic Zvada kicked a 21-yard field goal with 45 seconds left and Michigan stunned No. 2 Ohio State 13-10 on Saturday, likely ending the Buckeyes ’ hopes of returning to the Big Ten title game. Kalel Mullings broke away for a 27-yard run, setting up the Wolverines (7-5, 5-4) at Ohio State's 17-yard line with two minutes remaining in the game. The drive stalled at the 3, and Zvada came on for the chip shot. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a weekSobhita Dhulipala looks beautiful in royal gold Kanjeevaram saree, depicts a true Telugu brideCOLUMBIA, Mo. (AP) — Arkansas defensive end Landon Jackson was carted off the field and taken to a hospital with a neck injury late in the first half of Saturday's game at No. 24 Missouri. Jackson appeared to injure his neck while trying to tackle Missouri running back Jamal Roberts. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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