z25 casino
The US President-elect wants his administration to pursue a ‘political resolution’ to the issue. US President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by January 19 while the government emphasised its position that the statute is needed to eliminate a national security risk. “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the court consider staying the Act’s deadline for divestment of January 19 2025, while it considers the merits of this case,” said Mr Trump’s amicus brief, which supported neither party in the case. The filings come ahead of oral arguments scheduled for January 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. Earlier this month, a panel of three federal judges on the US Court of Appeals for the District of Columbia Circuit unanimously upheld the statute, leading TikTok to appeal to the Supreme Court. The brief from Mr Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office”.
A 36-year-old man was finally arrested early Friday morning after he climbed 50 feet up a tree that stood over a 200-foot cliff above Puget Sound, Thurston County Sheriff Derek Sanders said in a social media post. The incident began Dec. 25 when Olympia police located a stolen vehicle here that was from Seattle. The suspect fled on foot and escaped, but Olympia officers were able to obtain a photo of the suspect, according to Sanders. Then late Thursday night, a 911 caller reported their car was stolen in west Olympia. An officer later spotted the vehicle being driven recklessly on Martin Way, but the officer didn’t attempt a traffic stop. Sanders said the information about the suspect was shared with TCSO. A deputy attempted a traffic stop, but the driver refused to pull over and a pursuit was initiated on northbound I-5. The suspect took the Marvin Road exit where deputies attempted a tactical vehicle intervention with a device called a grappler. The suspect turned down Waldron Lane Northeast, a dead-end road, and crashed into a guard rail near the beach. The suspect fled on foot through a swamp, and a police dog was called to the scene. Lacey and Olympia police helped set up a perimeter. A deputy used an infrared drone and located the suspect after 30 minutes of searching with the K9 team in a marsh. Sanders said the man was dangling 50 feet up in a tree that was hanging over a cliff with a 200-foot drop down to the water. The man climbed down and was confirmed to be the same suspect from the previous auto theft. The suspect was arrested on suspicion of attempting to elude a pursuing police vehicle, resisting arrest, theft and possession of a motor vehicle, according to jail information.
Liam Payne's ex-girlfriend announces engagement just months after One Direction star's deathRomania's far-right candidate Calin Georgescu on Saturday urged voters to go to polling stations despite the country's top court having scrapped the presidential elections over alleged irregularities amid claims of Russian interference. The court's shock ruling, coming just before the presidential run-off which had been due Sunday, opens the way for a new electoral process starting from scratch in the EU and NATO member state bordering war-torn Ukraine. The annulment follows a spate of intelligence documents declassified by the presidency this week detailing allegations against Georgescu and Russia, including claims of "massive" social media promotion and cyberattacks. Georgescu -- who unexpectedly topped last month's first round of voting -- called for voters on Sunday "to wait to be welcomed, to wait for democracy to win through their power", said a statement from his team. "Mr. Calin Georgescu believes that voting is an earned right," said the statement. "That is why he believes that Romanians have the right to be in front of the polling stations tomorrow." Georgescu himself would go to a polling station near Bucharest at 0600 GMT, said his team. Earlier Saturday, police raided three houses in Brasov city in central Romania as part of the investigation "in connection with crimes of voter corruption, money laundering, computer forgery". Among the houses searched was that of businessman Bogdan Peschir, a TikTok user who according to the declassified documents allegedly paid $381,000 to those involved in the promotion of Georgescu, Romanian media reported. Peschir has compared his support for Georgescu to the world's richest man Elon Musk's backing of US president-elect Donald Trump. Little-known outsider Georgescu, a 62-year-old former senior civil servant, was favourite to win the second round on Sunday against centrist pro-EU mayor Elena Lasconi, 52, according to several polls. But the constitutional court on Friday unanimously decided to annul the entire electoral process as it was "marred... by multiple irregularities and violations of electoral legislation". President Klaus Iohannis said on Saturday that he had discussed with European Commission chief Ursula von der Leyen, and they agreed on the "need to strengthen the security of social media". The European Commission announced earlier this week that it had stepped up monitoring TikTok after Romania's authorities alleged "preferential treatment" of Georgescu on the platform -- a claim the company has denied. Following the court's decision, the United States said it had faith in Romania's institutions and called for a "peaceful democratic process". Trump's eldest son, Donald Trump Jr., on X branded the vote's cancellation an "attempt at rigging the outcome" and "denying the will of the people". Georgescu called it "a formalised coup d'etat" and said democracy was "under attack". His team on Saturday declined to comment on the raids, saying they "will not comment or provide answers until we have exact data". Georgescu and another far-right party, the AUR, have said they plan to appeal the decision to stop the voting to the High Court of Cassation and Justice. A past admirer of Russian President Vladimir Putin, Georgescu, an EU and NATO sceptic, in recent days had reframed himself as "ultra pro-Trump," vowing to put Romania "on the world map" and cut aid for neighbouring Ukraine. In an interview with US broadcaster Sky News on Saturday, Georgescu said there were no links between him and Russia. Political scientist Costin Ciobanu told AFP that the annulment has "further polarised Romanian society". With trust in institutions and the ruling class already low, the vote's cancellation poses a "major danger that Romanians will think that it doesn't matter how they vote", Ciobanu added. Elsewhere in the EU, Austria annulled presidential elections in 2016 because of procedural irregularities. In Romania, a new government is expected to set another date for the presidential vote. In last weekend's legislative elections, the ruling Social Democrats came top. But far-right parties made big gains, securing an unprecedented third of the ballots on mounting anger over soaring inflation and fears over Russia's war in Ukraine. In a joint appeal on Wednesday, the Social Democrats and three other pro-EU parties -- together making up an absolute majority in parliament -- signed an agreement to form a coalition, promising "stability". bur-jza/jj
Bulls vs. Grizzlies Injury Report Today – November 23 Published 4:33 pm Friday, November 22, 2024 By Data Skrive The injury report for the Chicago Bulls (6-10) ahead of their matchup with the Memphis Grizzlies (9-7) currently includes six players. The Grizzlies also have six injured players listed on the report. The matchup is scheduled for 8:00 PM ET on Saturday, November 23. Watch the NBA, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up for a free trial. Last time out, the Bulls lost 122-106 to the Bucks on Wednesday. In the losing effort, Zach LaVine paced the Bulls with 27 points. The Grizzlies’ last outing on Wednesday ended in a 117-111 win over the 76ers. In the Grizzlies’ win, Jaren Jackson Jr. led the way with 25 points (adding four rebounds and one assist). Chicago Bulls Injury Report Today Sign up for NBA League Pass to get live and on-demand access to NBA games. Memphis Grizzlies Injury Report Today Get tickets for any NBA game this season at StubHub. Bulls vs. Grizzlies Game Info Catch NBA action all season long on Fubo. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .Article content In the days after her absence from a vigil one year after Hamas’ Oct. 7 attack, Mayor Olivia Chow got an earful, emails released to the Toronto Sun show. Recommended Videos A freedom-of-information request yielded 135 pages worth of emails to and from Chow and her staff. Most of them are fully redacted – essentially just blank pages – but 44 of them contain emails regarding the Oct. 7 vigil and its organizers, the United Jewish Appeal and Centre for Israel and Jewish Affairs. Of those, most are emails from irate Torontonians sent after Chow’s absence. Chow has since apologized and has cited fatigue, a scheduling conflict with a meeting on bike lanes , an issue with her email account and a decision to instead wear black as reasons for not attending. In a recent emailed statement to the Sun , Chow did not address the complaints but again apologized, saying she “should have been there to show the Jewish community how much I care about their safety and well-being in this city.” The vigil was held one year after the attack on Israel to honour the 1,200 people who were slain. Some of the emails were sent the night of the vigil. “You ... chose not to attend the UJA memorial tonight,” one email read. “Nor have you posted a statement on social media to honour families who lost loved ones in the most horrific attack last Oct. 7... You are a disgrace and you should continue hiding until you are finally voted out of office. You owe the Toronto Jewish community an apology. Shame on you!” (Any information that could identify someone who made a complaint, such as a name or email address, was redacted by city staff.) Another email sent Oct. 9 began: “I am a Jewish man who has lived in Toronto all of my life. Never have I, and so many other Toronto Jews, ever felt more uncomfortable and threatened in our lives.” “There seems to be ample time for you to have press conferences in opening Woodbine toilets early, time for you to tweak at Caribana, a photo opportunity at Nuit Blanche, all of the really important and relevant things you were elected to do,” the man added. A parent, who also emailed on Oct. 9, expressed “frustration” with Chow’s apparent inaction. “My daughters who attend a Jewish high school have had three bomb threats made to their school just for being Jewish,” reads that message. “I am shocked that you have not played a more active role in combating this blatant anti-Semitism!” Another Oct. 9 email from an “appalled” resident stated: “A meeting on bike lanes? That was more important than being there to show support for all those who were killed, raped or taken hostage? You did not get my vote in the last election and your absence and then your terrible excuse have made sure you will never get my vote. I am embarrassed to be a Torontonian because of you.” Another person wrote on Oct. 10: “It is shocking that someone in your esteemed position could not exercise the moral clarity to prioritize standing alongside the Jewish community, but instead chose to remain at a meeting about bike lanes. Mayor Chow – only one word comes to mind: egregious.” An Oct. 8 email accused Chow of being “conspicuously un-empathetic to the Jewish population of Toronto.” “Please comment in a meaningful way so I am able to comprehend your absence in this matter.” (It does not appear Chow replied to this or any other of the emails from constituents.) “Regardless of the mayor’s personal politics,” a constituent wrote on Oct. 10, “she is the mayor of all the people... The mayor should know that she can support one side and still have empathy and compassion for the other. The latter in this case sorely lacking.” A brief Oct. 10 email, sent to both Chow and Ontario Premier Doug Ford, stated Chow “should be kicked out of Toronto” and called the Mayor a “pathetic weasel.” On the afternoon of Oct. 9, a self-professed lifelong Jewish resident of Toronto claimed to be “astounded” that Chow wasn’t at the vigil. “The event was attended by Premier Ford and several MPPs, former mayor John Tory and several members of Toronto council and several MPs. Prime Minister Trudeau attended the event in Ottawa. Your absence is inexcusable ... I have seen you on television at several Palestinian events.” “Are we really supposed to believe that a seasoned politician and the mayor of a world-class city like Toronto was unable to attend because of an alleged email mishap?” reads another email from Oct. 10. “This explanation is as flimsy as it is offensive. ... And now, rather than acknowledging the growing fear and alienation in the Jewish community, you offer a half-hearted ‘regret’ through a statement sent to the media.” An Oct. 8 email from a voter reads: “As a Jew in Toronto – who voted for you – I feel unseen, unheard, unacknowledged, uncared-for.” In another email, sent Oct. 9, the writer admitted feeling “lost” since the no-show and brought up the memory of Chow’s late husband. “You should have been fighting to be there, to stand up for those tragically slain innocents, to support your constituents who mourn. Jack would have been there,” the email said. “My disappointment stems from your lack of concern. It deepens to disgust when I imagine the reason for your non-attendance was to please that part of your constituents to whom you pander.” An Oct. 9 email expressed “profound dissatisfaction” in the email subject line. “You are a disgrace to the office of mayor – supposedly mayor for all the people of this diverse city. You attend street festivals and smile your way to all – except the Jewish community,” the email accused. “The Jewish community will never forget nor forgive your absence and failure to acknowledge our pain. Shame on you!” A talk radio listener wrote on Oct. 9: “I heard you this morning on the John Moore show (on) CFRB with your incredibly ridiculous excuses, none of which will fly with anyone with even one synapse firing in their heads.” An Oct. 10 email with “Disappointed” in the subject line accused Chow of failing to do her job. “You know that Oct 7, 2023, was the most horrific day in the lives of humanity since the Holocaust... A resignation from you would please many,” the person wrote. An Oct. 9 email ended: “Apology is just a word. Your actions have conveyed a hateful message to all Torontonians.” An email from the morning of Oct. 8, with the subject line “Your silence speaks volumes,” reads: “When the Jewish community comes together they do not block streets, do not cover their faces and do not shout hate.” Another email from that same day ended: “I will be volunteering to help anyone who will put their name forward to run against you in the next election.” An email writer on Oct. 9 signed off: “You are a terrible and nasty mayor.” And another email sent on the evening of Oct. 8 stated: “The mayor should be completely ashamed of herself, and is unfit to lead a diverse city like Toronto. The sooner she resigns, the better.” jholmes@postmedia.comThe Mumbai Police received death threats against Prime Minister Narendra Modi on Saturday while the Samajwadi Party announced that it was quitting the Maha Vikas Aghadi alliance in Maharashtra. An ISKCON temple was set ablaze in Dhaka amid continued communal unrest in Bangladesh. Meanwhile the stock market indices logged their best week in six months after RBI cuts CRR by 50 bps. PM Modi threatened The Mumbai Police received a threat message against Prime Minister Narendra Modi on Saturday via WhatsApp. The text was sent to the traffic police helpline and mentioned two ISI agents and a plot to carry out a bomb blast to target Modi. The development comes less than two weeks after the Mumbai Police received an anonymous call threatening to assassinate the senior politician. Bangladesh unrest An ISKCON temple in Dhaka district was set ‘ablaze’ early on Saturday. Officials based out of Kolkata indicated that deities of Sri Sri Laxmi Narayan and all items inside the ISKCON Namhatta Centre were 'burned down completely'. Samajwadi Party quits MVA The Samajwadi Party pulled out of the Maha Vikas Aghadi alliance in Maharashtra on Saturday over ‘communal’ jibes from the allied Shiv Sena (UBT). Controversy arose earlier this week after MLC Milind Narvekar — a close aide of Uddhav Thackeray — hailed the demolition of the Babri Masjid and a newspaper advert congratulating those behind the incident. The Shiv Sena (UBT) secretary also posted images of Uddhav Thackeray, Aaditya Thackeray and himself alongside the endorsement message. Syria crisis Syrian rebels entered the key city of Homs from the north and east on Saturday — days after capturing Hama. Insurgents — led by the jihadi Hayat Tahrir al-Sham group — said they had seized most of the south. Meanwhile government forces dug in to defend the key central city of Homs in a bid to try and save the 24-year rule of President Bashar al-Assad. The militants now plan to march towards Damascus — the seat of power for Assad. Sensex, Nifty soar Domestic equity benchmarks Sensex and Nifty 50 logged their best week since June in the previous session. The surge was mainly due to financials after the Reserve Bank of India boosted liquidity by cutting the cash reserve ratio by 50 basis points in its December monetary policy committee meeting. (With inputs from agencies)
Advertisement Swami Sivasubramaniani is the VP of AI and Data at Amazon Web Services. He shares how while AI may cause short-term job displacement, it offers long-term productivity gains. He suggests that workers use AI to take over mundane tasks so they can do more valuable work. The era of generative AI has arrived, bringing both promise and caution. Many people are wondering if AI can coexist peacefully and productively alongside a broad human workforce with diverse talents, skills, and abilities. I believe that AI isn't coming to take away jobs — it's coming to take away tasks. 80% of employees' time is consumed by low-value, repetitive, time-intensive, uninteresting tasks, while only 20% gets devoted to the more interesting activities that generate higher value for the organization. Related Video "We've been using AI all along." How LinkedIn is using AI, according to VP of Marketing Minjae Ormes. What if we could flip that ratio? What if we could free humans to solve, build, and create? That's what I believe AI can do. In the process, this new AI paradigm can unlock the value of an accelerated and more fulfilling career. I strongly believe that what we invent today can lead to a profound impact on the world — changing industries and people's lives. Marie Kondo-ing with AI Thoughtfully deployed, generative AI can remove drudgery and help people find more meaning in their work. It can free you to work on the parts of your job that are more interesting and more valuable — the reasons you got into your profession in the first place. I think the Marie Kondo principle applies: If the task doesn't spark joy, let AI take it from you. Our goal must be to kindle (or rekindle) our joy, to bring out curiosity and creativity, and to reimagine what's possible, now that we're no longer burdened with an assortment of mundane tasks. In a sense, AI can give each of us a job promotion, not be a job replacement. Advertisement There will be short-term displacement but it will self-correct Of course, the widescale adoption of Gen AI will have impacts and implications, and it would be foolhardy to ignore them. Increased productivity and greater cost efficiencies will inevitably lead to short-term workforce displacement — for example, contact centers with faster resolution times need fewer workers. Related stories However, I believe that AI will also play a self-correcting role in such a macroeconomic picture. Efforts must be made to close wage disparities and potential economic or opportunity gaps. Community colleges should offer guided and hands-on training to ensure AI is accessible to the broadest areas of our workforce. Similarly, technology companies must offer low-cost or free training and certification programs to promote AI's widespread adoption and use. I believe AI can cut the time for this upskilling process in half and foresee a world where nearly anyone can be an app builder and creator or where a junior technician can do senior-level repairs. Advertisement Decisions should still be made by humans Whether it's conversational search, agent assistants, image creation, or other forms of intelligent automation, AI becomes a supportive foundation that translates into time — time to evaluate, investigate, strategize — and solves problems. AI will give us access to a nearly limitless set of highly accurate, data-driven predictions. Nonetheless, decisions shouldn't be automated. They should remain the sole province of humans, who have a better understanding of tradeoffs, nuances, and strategies. Here are some examples of how humans can work alongside AI: Advertisement Customer Care : Gen AI can provide agents with personalized, real-time responses and prompts based on customer questions and interactions. Agents then exercise their judgment to use them. Manufacturing Design : Engineers can use AI to create digital twins to simulate interactions and their effects with far greater speed and far less expense before they decide on a design. Consumer Behavior : Gen AI can predict the preferences and responses of groups or individual buyers. This will allow marketers to focus on how to optimize campaigns and offers. Drug Discovery : With Gen AI, scientists can slash the time required for drug discovery , accelerate therapy development, and find vaccines that are cheaper and more accessible. Media : By automating the difficult art and production aspects of games and entertainment, Gen AI frees designers to create and ideate more. It can even create personalized gaming experiences. Financial Services : Gen AI can strengthen fraud detection and compliance while increasing the efficiency of loan officers making lending decisions. By being able to focus on decisions and outcomes, we unlock new creativity that we can channel to solving bigger and harder problems. With this new era of generative AI discovery, there has never been a better time to transform businesses and work as we know it. Dr. Swami Sivasubramanian is the Vice President of AI & Data at AWS . His team's mission is to help organizations leverage the power of AI and data to solve their most urgent business needs. Advertisement If you're an AI expert and would like to share your opinions on the impact of AI on the future of work, email Jane Zhang at janezhang@businessinsider.com .
Mon : Eurogroup Meeting; Chinese CPI & PPI (Nov), EZ Sentix (Dec), US Employment Trends (Nov) Tue : RBA Policy Announcement, EIA STEO; German Final CPI (Nov), Norwegian CPI (Nov), US NFIB (Nov), Chinese Trade Balance (Nov), Chinese Central Economic Work Conference Wed : BoC & BCB Policy Announcement, OPEC MOMR; South African CPI (Nov), US CPI (Nov) Thu : ECB & SNB Policy Announcements, Norges Bank Regional Network, IEA OMR; Australian Employment (Nov), UK GDP Estimate (Oct), US Initial Jobless Claims (w/e 7th), PPI (Nov), Japanese Tankan Index (Q4) Fri : N/A Chinese Inflation (Mon) : Chinese inflation data for November will provide the latest clues into the underlying health of the world’s second-largest economy following the slower-than-expected pace of annual growth in consumer prices and continued decline in factory gate prices seen the month before. As a reminder, the price data for October was softer than anticipated with CPI YY at 0.3% vs. Exp. 0.4% (Prev. 0.4%) and PPI YY at -2.9% vs. Exp. -2.5% (Prev. -2.8%). The monthly change in consumer prices also fell into deflation territory at -0.3% vs. Exp. -0.1% (Prev. 0.0%). The annual rise in CPI was facilitated by a 2.9% increase in food prices, as well as a 0.2% and 0.4% rise in consumer goods inflation and services prices, respectively. Conversely, housing rent fell 0.3% which attests to the ongoing property sector woes, while the costs of fuels for transport saw a double-digit percentage drop of 10.5% and contributed to a 4.8% decline in the transportation and telecommunication category. Furthermore, there was a steeper drop in China’s producer prices which was in deflation for a 25th consecutive month in October amid a 3.3% decline in the costs of production materials with a 5.1% drop in mining and 4.0% decline in raw material costs, while the factory gate price for consumer goods fell 1.6% and durable goods fell 3.1%. Nonetheless, China’s National Bureau of Statistics deputy head anticipates consumer prices to recover for the remainder of the year citing an improved economic situation, seasonal factors and a diminishing carryover effect. Of note, November CPI Y/Y is expected at 0.5% and PPI Y/Y is expected at -2.8%. RBA Policy Announcement (Tue) : The RBA is likely to keep rates unchanged at its meeting next week with a recent Reuters poll showing unanimous forecasts for the central bank to remain on pause, while money markets are pricing an 85% for the Cash Rate to be kept at 4.35% and just a 15% likelihood of a 25bps cut. As a reminder, the central bank opted to keep the Cash Rate unchanged for the 8th consecutive meeting last month which economists had unanimously forecast, while the rhetoric provided little fresh insight as it reiterated that the board will continue to rely upon the data and evolving assessment of risks, as well as noted that inflation remains too high and is not expected to return sustainably to the midpoint of the target until 2026. Furthermore, it stated that policy will need to be sufficiently restrictive until the board is confident that inflation is moving sustainably towards the target range and it repeated that the board is not ruling anything in or out. The post-meeting press conference also provided little in the way of fresh clues as RBA Governor Bullock stated that the last part of bringing inflation down is not easy and rates need to stay restrictive for the time being, while she thinks there are still risks on the upside for inflation but noted they will be ready to act if the economy turns down more than expected. Bullock also noted that they have the right settings at the moment and there were no discussions on specific scenarios for rate changes, as well as stated the current Cash Rate path priced by the market is as good as any. The minutes from the meeting further suggested a lack of urgency to act as it noted the Board is vigilant to upside inflation risks and policy needs to remain restrictive, while it saw no immediate need to change the Cash Rate and would need more than one good quarterly inflation report to justify a rate cut. The rhetoric from officials since then continues to suggest the central bank is keeping its options open as Governor Bullock stated the RBA will be in a position to consider rate cuts at some point, as long as inflation continues on its gradual slowing path and the Board can respond if inflation falls more quickly than forecast, as well as noted that they do not need inflation to be at the target to cut, but needs to be sure that it is heading there. Furthermore, a couple of the big 4 banks in Australia have adjusted their rate cut calls including ANZ Bank which pushed back its forecast for the first RBA rate cut to May next year from February and now only sees two 25bp cuts vs a prior view of three cuts, while Westpac also now expect the RBA to start cutting rates in May 2025 vs. a prior forecast of February 2025, although money markets have recently shifted to fully pricing a first cut in April after disappointing Australian GDP data for Q3. Chinese Trade (Tue): China will release its trade figures for November which participants will be eyeing to see if there is an improvement from the mixed figures seen in October. The prior data saw a larger-than-expected trade surplus of USD 95.72bln vs. Exp. 76.03bln (Prev. 81.71bln) and a double-digit surge in exports of 12.7% vs. Exp. 5.2% (Prev. 2.4%) but imports contracted at a steeper-than-feared pace of -2.3% vs. Exp. -1.5% (Prev. 0.3%). The rise in exports in October surpassed even the most optimistic of analysts' estimates to register the fastest growth since March 2023. It also followed a series of policy support announcements by officials in Beijing including the PBoC’s cuts to the RRR and across its short-term funding rates, while the month of October also saw a return to expansion territory of China’s factory activity after five consecutive months of contraction. However, this further improved in November and provides some encouragement for the upcoming release. Conversely, imports contracted by more than feared in October which highlights China’s weak domestic demand and consumption amid the ongoing property sector woes and trade frictions with the latter likely to worsen next year owing to the threat of increased tariffs on Trump’s return to the White House. In terms of the expectations for the upcoming data, the Trade Balance is seen at a surplus of USD 95.5bln, while exports growth is seen at 8.5% and Imports at 0.3%. Chinese Central Economic Work Conference (Tue-Wed) While no major numerical targets are expected (typically set at the Two Sessions), the market will be closely watching for shifts in tone on fiscal and monetary policy heading into next year. Currently, the stance is proactive on fiscal policy and prudent on monetary policy. The focus will likely be on whether there’s a new emphasis on boosting domestic demand or supporting the property market. Analysts will also be attentive to any changes in rhetoric that could signal a shift toward more aggressive policy support. That being said, the Chinese press played down prospects for stimulus as it warned against blindly pursuing faster growth and signalled more focus on supporting consumption in a flurry of articles ahead of the Central Economic Work Conference, according to Bloomberg. Analysts at ING “expect the markets would be satisfied with a shift to signal more aggressive policy support but may be disappointed if the release offers little new content.” BoC Policy Announcement (Wed) : The BoC is widely expected to cut rates on Wednesday 11th December, although money market pricing suggests the magnitude will be either a 25 or 50bps move. Markets were pricing in the decision to be a coin toss between a 25 or 50bps reduction. Recent data has been mixed, the latest Inflation report saw inflation come in hotter than forecast while growth data disappointed. However, the November jobs report was dovish with a notable rise in the unemployment rate, this saw markets lean more towards a 50bps rate cut, with 43bps of easing currently priced, implying a c. 70% probability of another 50bps rate cut. The prior BoC meeting saw the central bank cut rates by 50bps, a decision made to support economic growth and keep inflation close to the middle of the 1-3% target range. Participants have been questioning whether the BoC will go ahead with another 50bps rate cut to support economic growth, or perhaps slow to a 25bps rate cut due to the recent uptick in inflation, but the recent jobs report has seen these expectations lean towards the more dovish outcome. Note, that this meeting will not see an update to the monetary policy report and economic forecasts. BCB Policy Announcement (Wed): The BCB is expected to hike rates by 75bps next week, according to 31/40 economists surveyed by Reuters, with 5 expecting a 50bps hike and four looking for a 100bp hike. There has been a notable weakening in the BRL recently after the recent fiscal package announcements from the government. The spending cuts and income tax reform were perceived poorly and enhanced fiscal fears in Brazil, this took USD/BRL to a peak of 6.1150, the highest level on record. Meanwhile, recent economic data has shown the economic resilience of the Brazilian economy in Q3, with GDP growth of 0.9% Q/Q and 4.0% Y/Y, and is supported by strong domestic fundamentals like low inflation and a robust labour market, analysts have said. However, November's inflation data showed a surge, driven by food and transportation costs, with the IPCA-15 rising +0.6% M/M and 4.8% Y/Y, both higher than expected. Given these developments, the BCB is likely to maintain a cautious stance, continuing its tightening cycle to combat rising inflation and persistent inflation expectations, Pantheon Macroeconomics said. The consultancy expects that the impact of high real interest rates and external pressures, including a weak global trade environment, are expected to start weighing on economic activity ahead. Accordingly, Pantheon expects the BCB to raise its Selic rate by 50bps on December 11th, as it aims to curb inflationary pressures and anchor price stability. Looking ahead, the latest weekly analyst survey by the BCB saw the year ahead Selic rate between 12.5 and 12.75%, up from the prior week’s 12.25%. US CPI (Wed): The analyst consensus currently expects US consumer prices to rise +0.2% M/M in November, matching October's print, while the core rate of CPI is seen rising +0.3% M/M, again, matching October's print. Wells Fargo says that although some inflationary pressures, such as an overheated labour market, are easing, new challenges to disinflation have arisen, including potential tariffs and tax cuts, and warns that these could make achieving the Fed's 2% inflation target more difficult in the final stages of the inflationary cycle. Analysts expect the data will form a key part of the FOMC's deliberations at its December 18th policy meeting; money markets are currently pricing a 25bps rate cut with around 89% certainty. The likelihood of another 25bps rate cut increased after the November jobs report, which saw a beat on the headline, but not enough for the Fed to consider a pause while the unemployment rate ticked up. ECB Policy Announcement (Thu) : Expectations are for the ECB to cut the deposit rate by 25bps to 3.0% with markets assigning a circa 85% chance of such an outcome (with a 15% probability for a 50bps rate cut). The prior meeting in October saw the ECB pull the trigger on a 25bps rate cut despite policymakers initially positioning themselves for a pause in the wake of the September meeting. Since the October meeting, focus has increasingly been on growth metrics with survey data showing a marked drop in the November Eurozone Composite PMI to 48.1 from 50.0 with heavy pessimism surrounding the French economy. The accompanying release noted “the eurozone's manufacturing sector is sinking deeper into recession, and now the services sector is starting to struggle after two months of marginal growth." On the inflation front, headline Y/Y CPI rose in November to 2.3% from 2.0%, which was largely expected on account of base effects. Core inflation remained at a stubborn level of 2.7% whilst services inflation ticked marginally lower to 3.9% from 4.0%. The tone of messaging from ECB officials has failed to endorse a 50bps move with the influential Schnabel of Germany going as far as saying that she sees only limited room for additional cuts, whilst other members have also stressed a cautious approach to rate cuts. Overall, despite the weak growth outlook for the Eurozone which is also complicated by Trump’s return to the White House, developments on the inflation front suggest there is still more work done to return inflation to target. In recent weeks, policymakers have also stressed the need for the Bank to step away from recent data dependency and focus on forward-looking expectations. On which, the accompanying macro projections are likely to be viewed as stale given that the cut-off date did not encapsulate the latest French political woes, whilst as highlighted by ING, “the ECB normally also applies a ‘no policy change’ assumption to its forecasting. ING expects projections to be little changed vs. September. As such, those on the GC looking for a 50bps cut are unlikely to be supported by the latest forecasts. Looking beyond the upcoming meeting, assuming the ECB cuts by 25bps, an additional 130bps of loosening is seen by end-2025. SNB Policy Announcement (Thu) : Expectations are for the SNB to lower rates by 25bps to 0.75% (8 surveyed look for a 25bps cut, 4 look for 50bps). Market pricing sees a 56% chance of a 50bps cut and a 44% chance of a smaller 25bps move. As such, the decision is finely poised in the eye of the market and likely to generate some traction for CHF. As a reminder, at the prior meeting, the SNB opted to cut its policy rate by 25bps to 1.0% while signalling that further cuts were likely and stated that it is prepared to intervene in the FX market as necessary. In terms of the economic backdrop for the meeting, inflation has remained lacklustre with an average rate of 0.7% over the prior quarter which is some way south of the SNB’s Q4 forecast of 1.0%. From a growth perspective, Q3 GDP slowed to 0.4% Q/Q from the Q2 rate of 0.6%. Crucially for the SNB, Capital Economics highlights that the CHF is weaker than it was at the time of the last meeting. As a reminder, the board previously highlighted the negative impact that CHF strength was having on the domestic economy. Capital Economics favours a smaller 25bps move on the basis that the SNB will likely maintain its gradual approach to loosening policy after avoiding such a move at the time of the last meeting. However, it is worth noting that the SNB only meets on a quarterly basis (ie. less frequently than most other major central banks) and comments from SNB Chair Schlegel have been particularly dovish in which he noted that he can’t currently rule out a return to negative interest rates. This allied with the soft outturn for inflation could easily make the case for a 50bps move. In the event that the SNB goes with a 25bps cut, accompanying commentary is likely to remain dovish. Looking beyond the upcoming meeting, Capital Economics looks for 25bps cuts at the March and June meetings, reaching a terminal rate of 0.25%. Australian Jobs (Thu) : The Australian jobs report for November is expected to show Employment Change ticking up to 25k (prev. 15.9k), Unemployment Rate rising to 4.2% (prev. 4.1%), and Participation Rate remaining stready67.1% (prev. 67.1%). Desks warn of seasonality factors surrounding Black Friday. “On a multi-month basis, this result would not materially change the broader narrative of a relatively solid labour market that is gradually becoming more balanced”, say analysts at Westpac, as they anticipate any strength to be associated with firmer hours rather than headcount. Westpac forecasts 20k for the Employment Change and a 4.2% Unemployment Rate. It’s also worth keeping in mind the jobs report will be released a couple of days after the RBA confab. UK GDP (Thu) : October’s GDP is expected at +0.2% on a M/M basis vs. the 0.1% contraction seen in September. As a reminder, the prior release saw a negative M/M outturn for GDP which saw the Q3 figure come in at a lackluster 0.1%. The slowdown in growth was triggered by “volatility within industry, particularly manufacturing”, according to ING. This time around, analysts at Investec look for a rebound in output for ICT industries, constrained growth in the services industry, a flat performance for the manufacturing sector and a pick-up in the construction industry. For Investec, this nets out at a 0.2% M/M increase with the desk expecting a Q4 outturn of 0.4% Q/Q with that pace to be maintained over 2025. From a policy perspective, services inflation and real wage growth are still very much front and centre at the BoE, which combined with the volatility in monthly GDP metrics, means that the release will likely have little impact on BoE pricing which currently has just 2bps of loosening for the December meeting and a total of 72bps by end-2025. This article originally appeared on Newsquawk
Trump asks U.S. Supreme Court to pause law that could ban TikTokPlacing a legal bet in Illinois once required a trip to a racetrack. Then riverboat casinos set sail and eventually made landfall, followed by an ever-growing wave of slot machines installed at bars and restaurants statewide. Now, the advent of mobile sports betting means gamblers can get in on the action anywhere there’s a cell signal. And soon, the full gamut of casino games could be just a phone tap away, too, as lawmakers consider crossing the final frontier of legalized gambling in a state already teeming with temptations. Gaming interests are expected to make a full-court press next year in Springfield to legalize internet casino gambling, known in industry parlance as iGaming, that would bring state-regulated slots, blackjack, poker and more to the palm of your hand. It’s not the first time gaming industry players have pushed to expand Illinois’ sprawling menu of gambling options. Nor is it the first time they’ve faced stiff pushback from business owners who rely on video gaming terminals to draw customers through their doors — or from opponents who warn of a surge in addiction to what some have branded “gambling fentanyl.” But internet gambling could have better odds of advancing in the upcoming legislative session as Gov. JB Pritzker and statehouse leaders scramble for new money to help cover an estimated $3 billion budget shortfall. “In a tough budget year, you’re looking at ways to increase revenue. This is one tool for that,” said state Sen. Cristina Castro, an Elgin Democrat who has introduced iGaming bills that previously fell short. “And it’s something that could be more palatable to constituents.” Proponents estimate the state would rake in $450 million in new tax revenue within a year of allowing Illinoisans to play casino games on their mobile devices, eventually generating up to $800 million a year. Opponents argue it would be a zero-sum game for a state that has more places to bet than Nevada does, when counting Illinois’ 16 casinos, two racetracks and 8,660-and-counting bars, restaurants, gas stations and VFW halls authorized to operate video gaming machines. “When you start letting people play from home, do you think they’re going to go to those places and spend money?” said state Rep. John Cabello, R-Machesney Park. “It’s cutting off the nose and spiting the face.” Potential tax jackpots Illinois government relied on a record-high $2.1 billion in gaming tax revenue in the fiscal year ending in June, including $158 million from casinos, $190 million from sports betting, $848 million from video gaming and $886 million from the lottery, according to the state Commission on Government Forecasting and Accountability. Seven other states that have authorized internet gambling in recent years have seen significant tax windfalls — and surging interest from gamblers. New Jersey casinos reported a record $214 million in gross revenue from internet gambling in November, generating about $32 million in state taxes. Pennsylvania, which taxes iGaming at a higher rate, pulled in almost $86 million in taxes on $200 million in revenue. Gov. Pritzker called the idea “worthy of consideration” for Illinois. His office is drafting its yearly budget proposal, which he’ll present in February and negotiate with lawmakers for passage by the end of May. Pritzker’s administration has overseen a massive gambling expansion that added six new casinos, expanded video gaming and ushered in the sports betting industry — which the governor and state lawmakers slapped with hefty tax hikes last year. Lobbyists for major gambling companies like DraftKings and FanDuel banded together as the Sports Betting Alliance to fight the new graduated tax system before it was passed, threatening to leave the state due to the cut into their profits. But they’re back this time around to push for internet gambling, which the companies offer on their platforms in other states in addition to sports betting. Cannibalizing concerns The ubiquity of casino games could go live within a few months of potential legislative passage in Illinois, with licenses likely tied to partnerships with brick-and-mortar casinos, according to Sports Betting Alliance president Jeremy Kudon. That’s how the state handles sports betting licenses. “All of this iGaming already exists in Illinois,” Kudon said, pointing to illegal online casinos that have long operated offshore. “All we’re trying to do is legalize, regulate and tax it.” He rejected the idea that internet gambling would cannibalize dollars from other corners of Illinois’ saturated gaming market. “People who play online blackjack are not the same people going to bars and restaurants and casinos to play. Those have a certain social appeal and physical element that brings people in,” Kudon said. The companies say they’ve found that internet gamblers tend to be younger than casino or video gaming customers, with demographics skewing toward women with higher salaries who wager no more than $15 per session. “Something entirely on your phone attracts a different customer. It’s almost like mindless entertainment, or meditation. You’re present in this moment, not thinking about anything else,” Kudon said. “For me, it’s more of a relief than Netflix.” Castro agreed, saying “there is enough business to go around. We should do everything we can to shut down the illegal market.” But bar and restaurant owners are worried it would cut into their clientele who are often drawn in by video gaming. Keith Wetherell, executive director of the Illinois Licensed Beverage Association, estimates some businesses could see their revenue drop by 40% if customers have the option to gamble on their couch instead. “It lowers foot traffic in our establishments. That would be devastating to smaller bars and liquor license holders. A good portion of them wouldn’t survive,” Wetherell said. “A lot of these are Mom-and-Pop shops. Gaming helps subsidize health insurance options and keeps people employed. They wouldn’t be able to shoulder that big of a loss.” Those losses would hit local governments that split video gaming revenue at the benefit of large out-of-state gambling corporations, Wetherell said. “Their software isn’t in Illinois. This is a whole lot of money leaving the Illinois economy,” he said. More money would be made if Chicago were to adopt video gaming, Wetherell argued, an idea that Mayor Brandon Johnson has supported but hasn’t pushed to implement. State law allows municipalities to opt out of it. Cabello, the Republican state lawmaker, called it “absolutely, positively stupid” that Chicago bars and restaurants are missing out on video gaming revenue — a windfall the state could use, too. “How stupid can any elected official be, to know that your budget is ballooning out of control, and you don’t allow gaming in your city?” Cabello said, adding that he’d push for legislation requiring Chicago and other Cook County municipalities to allow video gaming. Kudon suggested the iGaming lobby would be open to potentially licensing some video gaming operators to cut them into the action — but Wetherell said he hasn’t seen “any mechanism that would make the system equitable.” ‘Gambling fentanyl’ Other opponents are urging lawmakers to look past the massive dollar signs being flashed by the internet gambling industry and to consider the social costs. “This literally is the equivalent of gambling fentanyl,” said Les Bernal, national director of the Stop Predatory Gambling advocacy group.”This is putting gambling fentanyl on every smartphone, in every living room, every dorm room, every office in the state of Illinois that has an internet connection.” A study commissioned by the state in 2021 found that 3.8% of adults in Illinois, or about 383,000 people, have a gambling problem, with additional 7.7% — about 761,000 people — potentially at risk for developing a problem. Since Pritzker authorized Illinois’ 2019 gaming expansion, he’s set aside additional money in state budgets for gambling addiction treatment programs . Internet gambling supporters also note their technology allows customers to set time and wager limits. None of that makes up for an inevitable rise in an addiction disorder that is closely linked to suicide, Bernal said. “The idea that you have this incredibly dangerous and addictive product, and you’re going to have state officials welcoming it when Illinois has already got as much predatory gambling as any state in America — it’s a threat to public health,” Bernal said. “There’s no grassroots movement for any of this. It’s being driven by very powerful gambling interests with the help of a handful of officials in both parties.” The new General Assembly will be inaugurated Jan. 8. Castro, the Elgin state senator who has supported internet gambling, said she expects extended talks on potential legislation through May.
Natixis Advisors LLC lifted its holdings in shares of SPDR S&P Dividend ETF ( NYSEARCA:SDY – Free Report ) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,194 shares of the company’s stock after buying an additional 5,324 shares during the period. Natixis Advisors LLC’s holdings in SPDR S&P Dividend ETF were worth $4,005,000 as of its most recent SEC filing. A number of other hedge funds have also recently modified their holdings of SDY. Joel Isaacson & Co. LLC lifted its position in SPDR S&P Dividend ETF by 1.2% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,461,997 shares of the company’s stock worth $349,702,000 after acquiring an additional 30,381 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of SPDR S&P Dividend ETF by 13,497.7% during the third quarter. International Assets Investment Management LLC now owns 1,174,296 shares of the company’s stock worth $166,797,000 after purchasing an additional 1,165,660 shares during the period. Cetera Investment Advisers grew its position in SPDR S&P Dividend ETF by 283.2% in the 1st quarter. Cetera Investment Advisers now owns 688,750 shares of the company’s stock valued at $90,392,000 after buying an additional 509,007 shares during the last quarter. Creative Planning grew its position in SPDR S&P Dividend ETF by 1.1% in the 2nd quarter. Creative Planning now owns 461,739 shares of the company’s stock valued at $58,724,000 after buying an additional 4,963 shares during the last quarter. Finally, Elk River Wealth Management LLC grew its holdings in SPDR S&P Dividend ETF by 2.2% during the third quarter. Elk River Wealth Management LLC now owns 385,024 shares of the company’s stock worth $54,690,000 after acquiring an additional 8,194 shares during the period. SPDR S&P Dividend ETF Stock Up 0.7 % NYSEARCA:SDY opened at $142.31 on Friday. The firm’s fifty day simple moving average is $140.83 and its 200-day simple moving average is $135.19. The stock has a market cap of $22.51 billion, a PE ratio of 19.72 and a beta of 0.68. SPDR S&P Dividend ETF has a fifty-two week low of $118.33 and a fifty-two week high of $144.06. SPDR S&P Dividend ETF Company Profile The SPDR S&P Dividend ETF seeks to closely match the returns and characteristics of the S&P High Yield Dividend Aristocrats Index (the Index). The Index is designed to measure the performance of the 60 highest dividend yielding S&P Composite 1500 Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 25 consecutive years. Read More Want to see what other hedge funds are holding SDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR S&P Dividend ETF ( NYSEARCA:SDY – Free Report ). Receive News & Ratings for SPDR S&P Dividend ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR S&P Dividend ETF and related companies with MarketBeat.com's FREE daily email newsletter .
Insurgents reach gates of Syria’s capital, threatening to upend decades of Assad ruleState eyes new way to count students in need