Farage: Badenoch must apologise for ‘crazy conspiracy theory’ on Reform numbersBasic navigation and boat handling training for fisherman via DOC
HONG KONG: Manmohan Singh was the face of India’s transformation. As finance minister in the early 1990s, and from 2004 as its prime minister for a decade, his reforms loosened excessive state controls, opened up the economy, pulled millions out of poverty and made the West accept the nuclear-armed nation as an ally. Or at least, that’s how his legacy will be remembered globally. But to my generation of Indians, Singh, who died at 92 on Thursday (Dec 26) night in a New Delhi hospital, was above everything else the embodiment of hope. He instilled in us a strong belief that a market economy would work. Not just for a tiny elite in New Delhi and Mumbai, but for a majority scattered across smaller towns and villages, battling against overwhelming odds of economic and educational poverty and social discrimination. A TOP TECHNOCRAT His own story gave us confidence. A 15-year-old Sikh refugee boy in newly independent India, whose family had fled from Pakistan during the subcontinent’s 1947 partition, he went on to study economics at Oxford and Cambridge and built an impressive career as a top technocrat. Singh and his colleagues were able to convince us that in a post-socialist, market-led economy, we, too, would be free to chase our dreams. With education and hard work, our lives, too, would be vastly better than our parents’; upward mobility would no longer be an exclusive preserve of the privileged. Through the 1990s, the reform project stayed on track even as governments changed. But the promise started to fray during Singh’s second term as prime minister. The unwieldy Congress-led coalition government he ran from 2009 was besieged, from one side, by crony capitalists gorging on debt from state-owned banks only to siphon off money into their Swiss bank accounts. From the other side, it was under attack by a political opposition that blamed Singh’s indecisive leadership for rampant corruption, high inflation, slowing growth and a falling rupee. “I do not believe that I have been a weak prime minister,” Singh said in one of his last press conferences, just a few months before the Hindu right-wing leader Narendra Modi’s Bharatiya Janata Party swept the 2014 election. “I honestly believe that history will be kinder to me than the contemporary media or for that matter the opposition in parliament.” That prediction didn’t take too long to get tested. In November 2016, Prime Minister Modi banned 86 per cent of India’s currency overnight. Singh, who described the move as “organised loot and legalised plunder” said it would crush economic growth. He was right. INDIA AT A CRITICAL TIME With his death, India has been deprived of sage counsel at a time when growth is once again anaemic, policymaking has become whimsical, many industries are facing extreme concentration of economic power, the middle class is feeling weighed down by taxation, and the poor are being excluded from government programmes in the name of plugging leakages. Religious strife is on the rise, and politicians of all hues are bribing voters to capture power where they can, without sparing a thought for how best to use national resources for development. After 10 years in the top job, Modi’s personality cult is weakening, but to his supporters, the belief in a prosperous India has become an uncritical act of faith. That wasn’t the effect Singh intended when, in his first budget speech in 1991, he channelled Victor Hugo: “No power on earth can stop an idea whose time has come,” he said. “The emergence of India as a major economic power in the world happens to be one such idea.” HEADED ONCE AGAIN TOWARD PROTECTIONISM Well, India is now the world’s fifth-largest economy, on track to becoming the third biggest in a few years. But that’s largely a statistical artifact: A product of extremely unequal growth that’s making a tiny section of 1.4 billion people very rich. On average, it’s still a lower-middle-income nation with per capita income of US$2,500 last year, nowhere near South Korea’s US$35,000. Korea, which used to be as poor as India in the 1960s, inspired Singh’s vision. He couldn’t replicate the “miracle on the Han” in his lifetime. But a bigger worry is that New Delhi, lurching once again toward protectionist trade policies, is no longer even on the path to that goal. And that will be a shame, if by choosing to replace rational analysis with empty slogans, and genuine reforms with nationalistic chest-thumping, the country lets down the memory of its quiet internationalist.Friedman Industries director Max Reichenthal buys $27,440 in stockOnce complete, the project is supposed to carry passengers from San Francisco to Los Angeles in under three hours, with one-way tickets priced at $86. It’s unclear how competitive this will be with air travel; one-way flights booked more than two weeks in advance currently cost $59 on Southwest, which includes two checked bags. The Department of Government Efficiency (DOGE), proposed by the incoming Trump administration, aims to reduce what it views as wasteful government spending, recently spotlighted the project, and Congressmen Kevin Kiley, R-California, announced his bill to eliminate federal funding for the endeavor. Amid the state’s financial foes, a pause or withdrawal of federal funding could leave the state with no choice but to put the project on hold. During the spring, the California High Speed Rail Authority requested the use of state rainy day funding to plug the $8 billion to $10 billion funding shortfall for the system’s initial $30 billion to $33 billion, 171-mile segment connecting the cities of Bakersfield and Merced in the relatively sparsely populated Central Valley. But with the state’s legislative analyst now finding the state has “no capacity” for new spending and projecting annual deficits will soon rise to $30 billion, enhanced state support for the project is unlikely, leaving federal funding as the only option to fill the gap. The letter , signed by Sens. Alex Padilla and Adam Schiff, and Reps. Pete Aguilar, Zoe Lofgren, and Jim Costa, requests an additional $536 million to join $134 million in state funds to complete a 30%, or preliminary, design of one tunnel in Southern California and one tunnel in Northern California. The letter also recounted the federal government’s existing $6.8 billion in support for the project, and $22 billion from California for the project thus far. “By preparing for future final design and construction of complex tunnels in this corridor, the Project will advance both state and federal goals to improve safety, expand economic strength and global competitiveness, address equity issues, and implement sustainability practices to confront climate change,” wrote the federal legislators. “These investments will continue to support living wage jobs, provide small business opportunities, and equitably enhance the mobility of communities in need – including disadvantaged agricultural communities – all while reducing greenhouse gas emissions.” In 2012, the state legislative analyst’s office found the bullet train would increase overall greenhouse gas emissions for the first 30 years of its operation, putting the project’s emissions impact — and state funding based on emissions reductions — into question. Kiley, who is aiming to pass a bill in Congress ending federal support for the project, said even if a grant is approved, he hopes to keep that money away from California’s bullet train. “A small group of CA Democrats is asking Biden to send even more money for High-Speed Rail ... before Congress can pass my bill to deny further funding,” said Kiley on X. “If Biden complies, we will make sure that the grant is promptly revoked.” Because U.S. Congress holds “power of the purse,” Kiley’s bill could allow the federal government to withhold any further funding from the project – even spending that is already approved. However, it's less clear whether the Trump administration could unilaterally halt funding. As a discretionary grant under the Department of Transportation, such a decision might fall within its authority, but political and legal challenges could arise.AP Sports SummaryBrief at 5:51 p.m. EST
THESSALONIKI, Greece (AP) — Greece’s second largest city, Thessaloniki, is getting a brand new subway system that will showcase archaeological discoveries made during construction that held up the project for decades. The 9.6-kilometer inaugural line will officially open on Nov. 30, using driverless trains and platform screen doors. Construction began in earnest in 2003 and unearthed a treasure trove of antiquities in a vast excavation beneath the densely populated city of a million residents. “This project offers a remarkable blend of the ancient and modern, integrating archaeological heritage with metro infrastructure,” Christos Staikouras, the transport and infrastructure minister, told reporters Friday on a media tour of the subway. Tunneling followed ancient commercial routes through the center of the port city that has been continuously inhabited since ancient times. It exposed a Roman-era thoroughfare, ancient Greek burial sites, water and drainage systems, mosaics and inscriptions and tens of thousands of artifacts spanning centuries, also through Byzantine and Ottoman rule. The tunnels had to be bored at a greater depth than originally planned, adding cost and delays, to preserve the ancient discoveries. Key pieces of what was found have been put on display along the underground network of 13 stations including a section of the marble-paved Roman thoroughfare at the central Venizelou Station. “The project faced substantial delays and many challenges, including over 300,000 archaeological finds, many of which are now showcased at various stations along the main line,” Staikouras said. The Thessaloniki metro was first conceived more than a century ago and its completion has been greeted with quiet amazement by residents who for years used the metro project as a punchline for bureaucratic delays and undelivered promises. Government officials said the cost of the metro so far has reached 3 billion euros ($3.1 billion) for the completed first line of the subway system and most of a second line which is currently under construction and due to be delivered in a year. The construction consortium was made up by Greece’s Aktor, Italy’s Webuild and Japan’s Hitachi Rail.Donkey named Wonder gets new prosthetic leg for Christmas
NEW YORK, Dec. 24, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of ordinary shares of ASML Holding N.V. (NASDAQ: ASML) between January 24, 2024 and October 15, 2024, both dates inclusive (the “Class Period”), of the important January 13, 2025 lead plaintiff deadline. SO WHAT: If you purchased ASML ordinary shares during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the ASML class action, go to https://rosenlegal.com/submit-form/?case_id=31159 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 13, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the issuers being faced by suppliers, like ASML, in the semiconductor industry were much more severe than defendants had indicated to investors; (2) the pace of recovery of sales in the semiconductor industry was much slower than defendants had publicly acknowledged; (3) defendants had created the false impression that they possessed reliable information pertaining to customer demand and anticipated growth, while also downplaying risk from macroeconomic and industry fluctuations, as well as stronger regulations restricting the export of semiconductor technology, including the products that ASML sells; and (4) as a result, defendants’ statements about ASML’s business, operations, and prospects lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the ASML class action, go to https://rosenlegal.com/submit-form/?case_id=31159 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com