Lloyd's of London Launches New Cyber Insurance ConsortiumBanking Stocks Drop Amid Martial Law: 11 Trillion Won LostSAGT wins sustainability award from Ceylon Chamber of CommerceA key figure in a trucker protest that jammed Canada's capital and sparked a global movement against Covid mandates was found guilty Friday for his role in the blockade. The self-styled "Freedom Convoy" of big rig drivers and protesters rolled into Ottawa in early 2022 from across Canada to express anger at government protocols imposed to contain Covid-19. After three weeks of turmoil, Prime Minister Justin Trudeau invoked rarely used emergency powers to dislodge the protesters. Pat King was among hundreds of people arrested, and the first of the protest leaders to be convicted. Two other organizers, Tamara Lich and Chris Barber faced a separate criminal trial but those verdicts are not expected until 2025. King faces up to 10 years in prison after being convicted on five charges, including mischief, counselling others to commit mischief and disobeying a court order. Acquitted of more serious charges, he smiled at a packed courtroom of supporters as the judge read the verdict. "Mr King was not merely engaging in political speech," Justice Charles Hackland said. "Rather, he was inciting the protesters to continue their ongoing blockade of downtown Ottawa." King led hundreds of big rigs and thousands of protestors to Ottawa, bringing the capital to a standstill for more than three weeks. Residents and business owners complained of incessant honking and harassment. As the demonstrators' demands expanded to a broader anti-establishment agenda, solidarity rallies popped up at Canada-US trade corridors and various places abroad. Most of the evidence at trial consisted of videos King posted on social media in which he urged his nearly 300,000 followers to rail against government overreach. "Hold the line," he said in video posts, appearing also to delight in the gridlock and misery of locals: "Pretty hilarious that people haven't been able to sleep for 10 days." Trudeau faced strong criticisms from civil liberties groups and the opposition Conservatives for invoking the Emergencies Act to dislodge the protestors. But a commission of inquiry ruled it had been "appropriate," calling it "a drastic move, but... not a dictatorial one." amc/bs/bfm
Some Democrats are frustrated over Joe Biden reversing course and pardoning his son HunterUndercover FBI agents were not present during the 2021 attack on the US Capitol by Donald Trump supporters, a Justice Department watchdog said Thursday in a report debunking a popular right-wing conspiracy theory. "We found no evidence in the materials we reviewed or the testimony we received showing or suggesting that the FBI had undercover employees in the various protest crowds, or at the Capitol, on January 6," Justice Department inspector general Michael Horowitz said in an 88-page report. Thousands of Trump supporters stormed the US Capitol on January 6 in a bid to prevent congressional certification of Democrat Joe Biden's election victory. Right-wing media and even some Republican lawmakers have spuriously claimed that undercover FBI agents provoked the attack on Congress, which followed a fiery speech by Trump in which he falsely claimed the election had been stolen. The inspector general said that while no undercover FBI agents were present at the Trump rally or the Capitol, 26 FBI informants known as confidential human sources (CHS) were in Washington at the time. Three of the informants had been tasked with reporting on domestic terrorist suspects while the others were there on their own. "None of these FBI CHSs were authorized to enter the Capitol or a restricted area, or to otherwise break the law on January 6, nor was any CHS directed by the FBI to encourage others to commit illegal acts on January 6," the report said. The inspector general also said there had been an intelligence-gathering failure by the FBI ahead of the January 6 attack. "While the FBI undertook significant efforts to identify domestic terrorism subjects who planned to travel to the Capital region on January 6," the report said, "the FBI did not take a step that could have helped the FBI and its law enforcement partners with their preparations. "Specifically, the FBI did not canvass its field offices in advance of January 6, 2021, to identify any intelligence, including CHS reporting, about potential threats to the January 6 Electoral Certification," it said. FBI deputy director Paul Abbate was quoted as saying this was a "basic step that was missed" in "understanding the threat picture prior to January 6." Trump was impeached by the Democratic-majority House of Representatives following the attack on the Capitol, but acquitted by the Senate. He is to return to the White House on January 20 after defeating Vice President Kamala Harris in the November presidential election. More than 1,500 people have been charged in connection with the assault on Congress. Trump has lauded them as "patriots" and "political prisoners" and pledged to pardon many of them when he returns to the White House. cl/st
TSX Lower to Begin Year’s Final Month
Easter Sunday is four months away, falling on April 20 in 2025 but some supermarkets already have seasonal stock out on their shelves. Chocolate eggs and hot cross buns have already been spotted for sale in shops including Morrisons, Tesco and Asda. As reported by , Gary Evans, 66, from Margate, shared a picture of Creme Eggs on display at his local Morrisons on Boxing Day. I’m a very liberal person but seeing Morrisons selling eggs right after is where I draw the line 🥲 "I just think it's crazy that everything is so superficial and meaninglessly commercial... [there's] something quite frantic about it," he said. Meanwhile, Joseph Robinson, saw themed Kit-Kat and Kinder Surprise products at his local Morrisons in Stoke-on-Trent on Friday evening (December 27). He said: "It's funny as they've not even managed to shift the Christmas chocolates off the shelves yet and they're already stocking for Easter. "I wish that supermarkets weren't so blatantly consumerist-driven and would actually allow customers and staff a time to decompress during the Christmas period." On X (formerly known as Twitter) user @Jingle1991 shared an image of Malteser Bunnies in Sainsbury's on Christmas Eve and pointed out: "Easter chocolate already out. Jesus hasn’t even been born yet". Another added: "I’m a very liberal person but seeing Morrisons selling #Easter eggs right after #Christmas is where I draw the line". In an alternative view, marketing consultant Andrew Wallis, 54, admitted he was surprised to see Easter eggs in the Co-op in Kilgetty, Pembrokeshire. However, he added it also illustrates "forward-thinking" from big businesses. He explained: "It made me reflect on how big brands are always thinking ahead and planning early. "My message to retailers would be: while planning ahead is important, it's also essential to be mindful of consumer sentiment. "Some might feel it's too early for seasonal products like this but others might see it as a sign of forward-thinking. Striking the right balance is key to keeping customers happy."Tesla, Nvidia among Friday's market cap stock movers
Trump invited China's Xi to his inauguration even as he threatened massive tariffs on BeijingAutomobiles for exports are parked at a storage yard in the nation's southeastern port city of Ulsan in this undated photo. Yonhap Strengthening dollar feared to deal blow to imported carmakers By Lee Min-hyung The nation’s auto market is grappling with a double blow of unexpected political upheaval and sharply declining domestic consumption, resulting in a decade-low number of new vehicle registrations. Weakening consumer sentiment has been driven by unfavorable macroeconomic conditions, including prolonged high interest rates and the lingering inflationary effects of the COVID-19 pandemic. Carmakers typically anticipate increased sales through aggressive year-end marketing strategies, but these plans have also hit a snag following the fallout from President Yoon Suk Yeol’s attempted martial law last week. Industry officials are increasingly worried about weakening consumer sentiment, as the escalating political uncertainty surrounding Yoon and his administration shows no signs of easing anytime soon. According to data from the Korea Automobile and Mobility Association (KAMA), new car registrations totaled 1.2 million in the first three quarters of this year, down 8.7 percent compared to the same period last year. This figure represents the lowest level since 2013. Given that carmakers will not be able to enjoy the year-end sales effect, the figure for the fourth quarter is also widely forecast to remain weak from a year earlier. “Our initial plan was to spur sales growth and clear out inventory by launching strong promotional events around the end of this year, but the political unrest has put the brakes on the move,” an official at a carmaker said. Automakers typically launch a variety of year-end promotional campaigns to reduce inventory, and customers often wait for this period to purchase vehicles at significantly lower prices. “But the political deadlock does not seem likely to be resolved in the short term, so most carmakers will have to adjust their sales strategies well into early next year,” the official said. Members of the Korean Confederation of Trade Unions hold pickets during a demonstration in Ulsan, Dec. 5, urging President Yoon Suk Yeol to step down over allegations of insurrection. (Yonhap) Imported carmakers are being hit harder by the current political crisis, while domestic companies like Hyundai Motor and Kia can offset the decline in domestic sales through exports, as a weaker won makes Korean automobiles more affordable for customers to buy overseas . Automakers are also on track to delay their planned press events in reflection of the political chaos. Jaguar Land Rover Korea was scheduled to hold a media event to introduce its new SUV edition last week, but canceled it due to the ongoing political turmoil. The volatile won-dollar exchange rate also comes as a major risk for imported carmakers as it forces them to sell vehicles at higher prices. The dollar is strengthening at a rapid pace following Yoon’s botched martial law order on Dec. 3. The exchange rate rose to this year’s high of 1,438.3 won per dollar on Monday amid investors’ preference for safer assets at this period of market uncertainties. The appreciation of the dollar results in a hike in the prices of imported vehicles, forcing carmakers to increase their sales prices in order to maintain profitability. “If the exchange rate keeps rising and hovers at such a high level, a number of foreign carmakers doing business in Korea will have to increase their vehicle sale prices to ensure profits and stay in line with headquarters’ guidelines,” another official at an imported automaker said. This is not the desired outcome for the time being, as fewer consumers are willing to spend more on vehicles at higher prices, especially during a critical time when their confidence has significantly diminished, according to the official. Experts also said there is no clear short-term solution for imported automakers, aside from relying on promotional campaigns. “The strengthening dollar will not last for a long period of time, so they will have to focus on holding more aggressive discount campaigns,” said Lee Ho-geun, an automotive engineering professor at Daedeok University. Hyundai Motor's unionized workers leave work two hours early, as part of their partial strike, demanding the resignation of President Yoon Suk Yeol, at the carmaker's production line in the southeastern port city of Ulsan, Dec. 5. Yonhap Union risks Unionized workers at automakers are also planning to stage a walkout demanding the resignation of the president. This move is feared to disrupt production at Hyundai Motor, Kia, and General Motors (GM) Korea. According to Hyundai Motor’s union, workers went on a partial strike for two days from Dec. 5, urging Yoon to step down. Production of thousands of vehicles is estimated to be delayed due to the two-day strike. Union members from Kia and GM Korea also followed suit, calling for the voluntary resignation of Yoon. Of particular concern is that they are threatening to engage in an all-out strike unless Yoon resigns from the post. Lee emphasized the importance of understanding Korea's reliance on exports. “We need to view exports separately from the ongoing political turmoil,” Lee said. “Korea’s export reliance particularly on automobiles, batteries and semiconductors remains massive. If our exports are in peril due to the strikes or political uncertainty, our economy will face a bigger shock in the end.”By Suleiman Al-Khalidi and Timour Azhari AMMAN/BEIRUT (Reuters) -Syrian President Bashar al-Assad boarded a plane and left Damascus for an unknown destination on Sunday, two senior army officers told Reuters, as rebels said they had entered the capital with no sign of army deployments. "We celebrate with the Syrian people the news of freeing our prisoners and releasing their chains and announcing the end of the era of injustice in Sednaya prison," said the rebels. Sednaya is a large military prison on the outskirts Damascus where the Syrian government detained thousands. Just hours earlier, rebels announced they had gained full control of the key city of Homs after only a day of fighting, leaving Assad's 24-year rule dangling by a thread. Intense sounds of shooting were heard in the centre of the Damascus, two residents said on Sunday, although it was not immediately clear what the source of the shooting was. In rural areas southwest of the capital, local youths and former rebels took advantage of the loss of authority to come to the streets in acts of defiance against the Assad family's authoritarian rule. Thousands of Homs residents poured onto the streets after the army withdrew from the central city, dancing and chanting "Assad is gone, Homs is free" and "Long live Syria and down with Bashar al-Assad". Rebels fired into the air in celebration, and youths tore down posters of the Syrian president, whose territorial control has collapsed in a dizzying week-long retreat by the military. The fall of Homs gives the insurgents control over Syria's strategic heartland and a key highway crossroads, severing Damascus from the coastal region that is the stronghold of Assad's Alawite sect and where his Russian allies have a naval base and air base. Homs' capture is also a powerful symbol of the rebel movement's dramatic comeback in the 13-year-old conflict. Swathes of Homs were destroyed by gruelling siege warfare between the rebels and the army years ago. The fighting ground down the insurgents, who were forced out. Hayat Tahrir al-Sham commander Abu Mohammed al-Golani, the main rebel leader, called the capture of Homs a historic moment and urged fighters not to harm "those who drop their arms". Rebels freed thousands of detainees from the city prison. Security forces left in haste after burning their documents. Residents of numerous Damascus districts turned out to protest Assad on Saturday evening, and security forces were either unwilling or unable to clamp down. Syrian rebel commander Hassan Abdul Ghani said in a statement early Sunday that operations were ongoing to "completely liberate" the countryside around Damascus and rebel forces were looking toward the capital. In one suburb, a statue of Assad's father, the late President Hafez al-Assad, was toppled and torn apart. The Syrian army said it was reinforcing around Damascus, and state television reported on Saturday that Assad remained in the city. Outside the city, rebels swept across the entire southwest over 24 hours and established control. EXISTENTIAL THREAT TO ASSAD RULE The fall of Homs and threat to the capital pose an immediate existential danger to the Assad dynasty's five-decade reign over Syria and the continued influence there of its main regional backer, Iran. The pace of events has stunned Arab capitals and raised fears of a new wave of regional instability. Qatar, Saudi Arabia, Jordan, Egypt, Iraq, Iran, Turkey and Russia issued a joint statement saying the crisis was a dangerous development and calling for a political solution. But there was no indication they agreed on any concrete steps, with the situation inside Syria changing by the hour. Syria's civil war, which erupted in 2011 as an uprising against Assad's rule, dragged in big outside powers, created space for jihadist militants to plot attacks around the world and sent millions of refugees into neighbouring states. Hayat Tahrir al-Sham, the strongest rebel group, is the former al Qaeda affiliate in Syria regarded by the U.S. and others as a terrorist organisation, and many Syrians remain fearful it will impose draconian Islamist rule. Golani has tried to reassure minorities that he will not interfere with them and the international community that he opposes Islamist attacks abroad. In Aleppo, which the rebels captured a week ago, there have not been reports of reprisals. When asked on Saturday whether he believed Golani, Russian Foreign Minister Sergei Lavrov replied, "The proof of the pudding is in the eating". Lebanon's Iran-backed Hezbollah group withdrew from the Syrian city of Qusayr on the border with Lebanon before rebel forces seized it, Syrian army sources said on Sunday. At least 150 armoured vehicles carrying hundreds of Hezbollah fighters left the city, long a point on the route for arms transfers and fighters moving in and out of Syria, the sources said. Israel hit one of the convoys as it was departing, one source said. ALLIES' ROLE IN SUPPORTING ASSAD Assad long relied on allies to subdue the rebels. Russian warplanes conducted bombing while Iran sent allied forces including Hezbollah and Iraqi militia to reinforce the Syrian military and storm insurgent strongholds. But Russia has been focused on the war in Ukraine since 2022 and Hezbollah has suffered big losses in its own gruelling war with Israel, significantly limiting its ability or that of Iran to bolster Assad. U.S. President-elect Donald Trump has said the U.S. should not be involved in the conflict and should "let it play out". (Reporting by Suleiman al-Khalidi in Damascus, Timour Azhari in Beirut, Jaidaa Taha in Cairo, Phil Stewart and Idrees Ali in Washington; Writing by Angus McDowall and Matt Spetalnick; Editing by Cynthia Osterman and Michael Perry)
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