American and European stock markets mostly rose on Wednesday after inflation data cemented expectations that the US Federal Reserve will trim interest rates next month. While the Dow fell slightly, the other two major US indices advanced, led by the tech-rich Nasdaq, which piled on almost two percent to close above 20,000 points for the first time. The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October. "With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week," Jochen Stanzl, chief market analyst at CMC Markets. "The data is not a showstopper for the current bull run on Wall Street," he added. Ahead of the data, investors priced in an 86 percent chance the Fed will cut interest rates next week by a quarter percentage point. That rose to more than 98 percent after the CPI data was published. Stocks in Paris and Frankfurt rose ahead of the European Central Bank's own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth. Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister "within 48 hours" as he seeks to end political deadlock following the ouster of Michel Barnier. In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt's DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion). Shares in Zara owner Inditex slid more than six percent after a record quarterly profit for the group fell short of market estimates. Among US companies, Google parent Alphabet earned 5.5 percent as it announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date. That added to gains after Google also announced Tuesday details of a breakthrough quantum chip. Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red. Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders were to gather Wednesday for a conference to hammer out next year's agenda. President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would "implement a more active fiscal policy and an appropriately relaxed" strategy. Those remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending. New York - Dow: DOWN 0.2 percent at 44,148.56 (close) New York - S&P 500: UP 0.8 percent at 6,084.19 (close) New York - Nasdaq Composite: UP 1.8 percent at 20,034.89 (close) London - FTSE 100: UP 0.3 percent at 8,301.62 (close) Paris - CAC 40: UP 0.4 percent at 7,423.40 (close) Frankfurt - DAX: UP 0.3 percent at 20,399.16 (close) Tokyo - Nikkei 225: FLAT at 39,372.23 (close) Hong Kong - Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close) Shanghai - Composite: UP 0.3 percent at 3,432.49 (close) Euro/dollar: DOWN at $1.0498 from $1.0527 on Tuesday Pound/dollar: DOWN at $1.2752 from $1.2771 Dollar/yen: UP at 152.40 yen from 151.95 yen Euro/pound: DOWN at 82.31 from 82.42 pence Brent North Sea Crude: UP 1.8 percent at $73.52 per barrel West Texas Intermediate: UP 2.4 percent at $70.29 per barrel burs-jmb/mlmThe arrest of a Hindu leader in Dhaka has been “misconstrued” and he was arrested on specific charges, Bangladesh has told a UN forum on minority issues, claiming that there has been no systematic attack on minorities in the country. Hindu priest Chinmoy Krishna Das, a former member of International Society for Krishna Consciousness (ISKCON), was arrested from Dhaka’s Hazrat Shahjalal International Airport on Monday. He was denied bail and sent to jail by the Chattogram’s Sixth Metropolitan Magistrate court in a sedition case on Tuesday. “With utter dismay, we note that the arrest of Chinmoy Das has been misconstrued by some speakers, although he was actually arrested on specific charges. The matter is being dealt with by our court of law,” Ambassador and Permanent Representative of Bangladesh to the UN Offices and other international organisations in Geneva Tareq Md Ariful Islam said. Islam made the statement during the 17th session of the Forum on Minorities Issues that took place in Geneva on November 28-29. After Das, the leader of the Hindu group Sammilita Sanatani Jote, was sent to prison, it triggered protests by Hindus in various locations, including the capital Dhaka and the port city of Chattogram. India has noted the developments with deep concern even as a diplomatic row has erupted between the two South Asian neighbours. During the session, some Bangladeshi NGOs and individuals spoke about the situation in the country. A representative of the International Forum for Secular Bangladesh (IFSB) said that the situation right now in the country is “very alarming” and a “very burning issue”. Referring to Das’ arrest, the representative said that ISKCON is a very popular and peaceful organisation but the former ISKCON leader has been arrested with “nothing accused against him. He was arrested three days before in Dhaka and now Bangladesh every day .... the police, army ... every day, they are torturing the minority.” Islam said that Bangladesh reaffirms that every Bangladeshi, regardless of religious identity, has the right to practice their respective religion or express views freely. “Ensuring safety and security of every citizen, including from the minority community, remains the cornerstone of the interim government of Bangladesh,” Islam said. “This has been repeatedly reassured to minority religious leaders by our top leadership, and proved time and again in the first 100 days” of the interim government led by the Chief Adviser Muhammad Yunus, he added. The post August 5 violence in Bangladesh was rooted in political and personal factors, not sectarian, he noted. “The violence affected people, mostly with partisan political affiliations, almost all of them being Muslims, and only a few from other religious minority groups.” Deposed prime minister Sheikh Hasina fled to India on August 5 following widespread protests against her Awami League-led government over a controversial job quota system. Three days later, Yunus, a Nobel laureate, took over as the Chief Adviser of the interim government. Also Read: 'Former' ISKCON associate jailed for sedition, Bangladesh media reports Ariful Islam said that “there was no systematic attack on minorities” and following the mass uprising in July, the world witnessed “how the entire society of Bangladesh came forward to protect its minorities.” He added that “unfortunately” there have been “a fiery of exaggerated, unfounded and fake reports and deliberate spread of misinformation and disinformation by vested quarters regarding minority persecution. Sadly, we saw it happening at this forum too.” He said the Bangladeshi government “remains vigilant and will continue to act promptly to maintain religious harmony at any cost and thwart any attempt to undermine rights of minorities.” Following this week's anti-Hindu incidents -- including Das' arrest and attacks on Hindu temples and community members -- India on Friday said the interim government in Bangladesh must live up to its responsibility of protecting all minorities as it expressed serious concern over the “surge” of extremist rhetoric and increasing incidents of violence against Hindus as well as attacks on temples. External Affairs Minister S Jaishankar told Parliament that India has taken serious note of incidents of violence against minorities in Bangladesh and that it is the primary responsibility of Dhaka to protect the life and liberty of all the citizens, including minorities. On the other hand, Bangladesh on Friday expressed deep concern over the violent protest at the Deputy High Commission in Kolkata and urged New Delhi to ensure the safety of all its diplomatic missions in India. Follow us on: Facebook , Twitter , Google News , Instagram Join our official telegram channel ( @nationalherald ) and stay updated with the latest headlines
American and European stock markets mostly rose on Wednesday after inflation data cemented expectations that the US Federal Reserve will trim interest rates next month. While the Dow fell slightly, the other two major US indices advanced, led by the tech-rich Nasdaq, which piled on almost two percent to close above 20,000 points for the first time. The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October. "With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week," Jochen Stanzl, chief market analyst at CMC Markets. "The data is not a showstopper for the current bull run on Wall Street," he added. Ahead of the data, investors priced in an 86 percent chance the Fed will cut interest rates next week by a quarter percentage point. That rose to more than 98 percent after the CPI data was published. Stocks in Paris and Frankfurt rose ahead of the European Central Bank's own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth. Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister "within 48 hours" as he seeks to end political deadlock following the ouster of Michel Barnier. In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt's DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion). Shares in Zara owner Inditex slid more than six percent after a record quarterly profit for the group fell short of market estimates. Among US companies, Google parent Alphabet earned 5.5 percent as it announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date. That added to gains after Google also announced Tuesday details of a breakthrough quantum chip. Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red. Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders were to gather Wednesday for a conference to hammer out next year's agenda. President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would "implement a more active fiscal policy and an appropriately relaxed" strategy. Those remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending. More from this section New York - Dow: DOWN 0.2 percent at 44,148.56 (close) New York - S&P 500: UP 0.8 percent at 6,084.19 (close) New York - Nasdaq Composite: UP 1.8 percent at 20,034.89 (close) London - FTSE 100: UP 0.3 percent at 8,301.62 (close) Paris - CAC 40: UP 0.4 percent at 7,423.40 (close) Frankfurt - DAX: UP 0.3 percent at 20,399.16 (close) Tokyo - Nikkei 225: FLAT at 39,372.23 (close) Hong Kong - Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close) Shanghai - Composite: UP 0.3 percent at 3,432.49 (close) Euro/dollar: DOWN at $1.0498 from $1.0527 on Tuesday Pound/dollar: DOWN at $1.2752 from $1.2771 Dollar/yen: UP at 152.40 yen from 151.95 yen Euro/pound: DOWN at 82.31 from 82.42 pence Brent North Sea Crude: UP 1.8 percent at $73.52 per barrel West Texas Intermediate: UP 2.4 percent at $70.29 per barrel burs-jmb/mlmFrom Tony Osauzo, Benin Edo State Governor Monday Okpebholo has declared that those who conjured election results and announced them on social media during the governorship election are the same people crying that the polls were rigged. He stated this while speaking at the Esan Central Local Government Council Secretariat in Irrua, the venue of the homecoming reception held in celebration of his victory by the Esan people of Edo Central. The governor said it is sad that criminals are crying today that they lost the election, adding that they will continue to lose, while they keep spending their money on fruitless ventures, wasting time, energy, and resources. “I thank Edo people for the overwhelming support given to our party during the September 21 governorship election in Edo State. I am happy for the resounding victory God gave us. “I thank President Bola Tinubu and the leadership of our party for not playing anti-party but standing firm for justice and equity to prevail, which led to the success and victory recorded by our party. “The people who wrote results and were announcing fake results on the internet are the same people crying today that somebody rigged the election. “It is sad to say that the criminals are crying today that they have lost and will continue to lose. They are spending money day and night and wasting their money and will wait in vain. “Edo people have spoken. They have chosen the path of development, peace, and unity. This is what Edo people have chosen, and that is how it will remain. “I want to thank Esan people for standing by me and ensuring a resounding victory. Thank you for the confidence reposed in me and thank you for your votes. This crowd has shown that you people voted for me. “I will not disappoint Edo people. I will not disappoint Esan people. I will do the right thing and allow justice to prevail. “I thank the traditional rulers in the entire Esan land, leaders of Esan land, party leaders, and all those who stood by me to become the Governor of Edo State, and above all, I give God the glory,” Governor Okpebholo said. Also speaking at the event, the Onojie of Uromi, His Royal Highness, Anselm Aidenojie II, said the people of Esan land are happy that their son is the Governor of the State. “We, the traditional rulers from Esan land, went round the State to appeal for support to produce the Governor, and today it is a reality. We thank the Oba of Benin Kingdom, Omo N’Oba N’Edo Uku Akpolokpolo, Oba Ewuare II, and are grateful to all for the support. We believe that the Governor will deliver the dividends of democracy to the people of Edo State.” On his part, the state Chairman of the All Progressives Congress (APC), Emperor Jarret Tenebe, thanked Edo people for the mandate given to Governor Okpebholo, saying he has already hit the ground running since his inauguration. “We are happy to celebrate the victory God Almighty has given to us, and we thank Edo people for the mandate, as all can see that the Governor has hit the ground running. This is how it will be in the next eight years. In the last eight years, there was no governance. Governor Okpebholo has started from where Comrade Adams Oshiomhole stopped.” Dignitaries at the reception organised by the Esan people for the Governor were traditional rulers from Edo Central; Secretary to the State Government, Barr. Musa Ikhilor; Chief of Staff to the Governor, Gani Audu; members of the Edo State House of Assembly (EDHA); top government officials, party faithful, and others.Asian lifters shine at World Weightlifting Championships in Bahrain
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Nasdaq surges above 20,000 after US inflation data matches estimates
A SUPERMARKET giant is set to rival Aldi after slashing the price of 222 products at its smaller convenience stores across the UK. This comes after research showed customers are currently paying 10% more on average for the same item in smaller convenience-style shops than in main supermarkets. Advertisement 3 Aldi may face new competition from the change Credit: Getty 3 Tesco is launching the savings at its Express stores Credit: Paul Edwards Tesco made the major discount announcement to help reduce prices at its Express stores. It confirmed that it has extended its Aldi-price match scheme to its local outlets. Tesco CEO Kevin Murphy said: "[The] round of price cuts on more than 200 lines in our Express stores underlines our commitment to offering great value to Tesco customers. "Whether you are picking up coffee and milk for the office or a loaf of bread and a tin of soup on the way home, our Express stores offer both convenience and great value." Advertisement Read More on Supermarkets CRUNCH TIME Supermarket axes Christmas crisps leaving shoppers crying for their return CHECKOUT CHAOS Sainsbury's shoppers left fuming over 'ridiculous' security measures This comes as research from Which? also showed how shopping at a convenience store versus a large supermarket can be incredibly costly. It found that shoppers using local branches could be paying up to 20% more than at larger stores. This decision could cost you a whopping £800 extra on your food costs each year. The research compared the cost of 42 grocery items at convenience chains Morrisons Daily, Sainsbury's Local and Tesco Express against prices at their full-size supermarkets. Advertisement Most read in Money Exclusive HOUSE THAT Inside the Poundland family home with hidden swimming pool that's on sale LET'S DOUGH First look inside new Glasgow bakery popular with Noel Gallagher & Foo Fighters UNHAPPY HOUR Fury as 11 popular beers AXED with brewery accused of 'wiping out heritage' SHUTTERED Bargain megastore in Scots city to shut for good in days It found the biggest price difference was at Morrisons Daily, where shoppers paid 21 per cent more on average. While Sainsbury's and Tesco had less variation in prices, Nectar members could still be paying an average of 14 per cent more at Sainsbury's Local. Supermarket deals It also concluded that Tesco Clubcard holders could be charged 11 per cent more at Tesco Express. For example, despite offering a Clubcard discount, a pack of six Mr Kipling Bakewell Slices had a significant discount in price. Advertisement Costing £2.32 on average at a Tesco Express, it was costing shoppers at a large Tesco just £1.50, a shocking 54 per cent difference. Even basics such as bread were more costly at local stores than main ones. A medium white Hovis loaf cost 12% more at both Sainsbury's Local and Tesco Express. Morrisons Daily was an even worse offender, having a 14% uptick in price. Advertisement How to cut the cost of your grocery shop SAVING on your shop can make a big difference to your wallet. Here are some tips from comparison site Money.co.uk about how you can cut the cost of your shopping bills: Write yourself a list – Only buy items that you need. If it isn’t on your list, don’t put it in the trolley Create a budget – Work out a weekly budget for your food shopping Never shop hungry – you are far more likely to buy more food if your tummy is rumbling Don’t buy pre-chopped veggies or fruit – The extra they’ll charge for chopping can be eye watering Use social media – follow your favourite retailers to find out about the latest deals Be disloyal – You may want to go to different stores to find the best bargains Check the small print – It’s always worth checking the price per kg/lb/litre when comparing offers so you’re making a like for like decision as a bigger box won’t necessarily mean you get more Use your loyalty cards – Don’t be afraid to sign up to them all. They all work slightly differently – work out what bonus suits you better and remember to trade in your points for additional rewards 3 Tesco hopes to compete with Aldi's prices across more of its stores Credit: Getty
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STATE COLLEGE — With 10 days before its College Football Playoff debut, Penn State got active on the transfer portal front on Wednesday. Looking to bolster their defensive line, the Nittany Lions offered Louisiana Tech defensive tackle David Blay out of the transfer portal. A native of Levittown, Blay was recently named First Team All-Conference USA after starting and playing in all 12 games at defensive tackle for the Bulldogs, and was one of only three Bulldogs’ defenders to start in all 12 games this season. The 6-foot-4, 303-pound lineman led La. Tech’s defensive front with 46 tackles, 10.5 tackles for loss, 6.5 sacks and two quarterback hurries, and was best on the team in sacks and tackles for loss. Blay finished third in Conference USA in sacks and tied for third in TFLs. According to Pro Football Focus, Blay was credited with 12 QB pressures this season. According to reports, Penn State isn’t the only Big Ten team after Blay’s services, as Illinois hosted him on a visit Tuesday. With the departure of veteran defensive tackle Hakeem Beamon and the impending graduations of Dvon J-Thomas and Coziah Izzard, going after a player like Blay makes sense for Penn State. “We’re moving, and I’m pushing my staff to be very aggressive there,” Penn State coach James Franklin said Sunday. “Typically, when your season ends and you’re in that time getting ready for a bowl game, you have time to sit down with all of your players and find out what’s going on, who’s coming back, who’s considering going in their transfer portal, who is going in their transfer portal.” Franklin said it’s difficult to come up with a plan without knowing what the roster might look like in a year, but he asked his staff to be aggressive, make some decisions and make some moves.Flagstar Financial: A Unique Buy-The-Dip Opportunity
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Shohei Ohtani ties Michael Jordan with latest AP Male Athlete of the Year win(The Center Square) – President Donald Trump has promised to reduce government waste and employed wealthy businessmen Elon Musk and Vivek Ramaswamy to lead the charge. So far, spending on federal Diversity, Equity and Inclusion policies are prime targets for Musk and Ramaswamy, and a recent report shows just how widespread federal DEI spending has become. The report from Do No Harm shows 500 ways the Biden-Harris administration “infused DEI into the federal government.” Those examples include federal agencies starting dozens of equity training programs, doling out federal contracts and jobs based on race and gender, and teaching Americans more about their country’s racism, both past and present. The DEI explosion took off after Biden issued executive orders on his first day in office as well as another in June of 2021. The first executive order “established that affirmatively advancing equity, civil rights, racial justice, and equal opportunity is the responsibility of the whole of our Government.” The second order established “that it is the policy of my Administration to cultivate a workforce that draws from the full diversity of the Nation.” Biden also issued other executive orders, including around gender and sexuality, to the same effect his first year in office. Those orders gave federal bureaucrats not only permission but actually direct orders to embrace DEI policies across the board. And Do No Harm’s report shows they did, full-throttle, citing 80 “Equity Action Plans” submitted by agencies that promised over 500 taxpayer-funded actions. Some of the actions are seemingly mild, such as the U.S. Social Security Administration tracking more racial data. Other examples of DEI policies, though, made the federal government the nation’s teacher. For example, a blog for the U.S. Treasury Department lectures Americans on racial inequality. More directly, the federal government began implementing training programs for many federal employees that fully embrace racial ideology labeled “woke” by its opponents. For instance, the Federal Energy Regulatory Commission invested in training for employees to consider equity more in its regulatory decisions. “Training will address how equity and environmental justice involves removing barriers underserved communities may face in the context of the Commission’s practices, processes, and policies,” FERC said in its Equity Action Plan. “Training also will address how, consistent with FERC’s mission and statutory duties, the Commission considers the impact of its actions on such communities. More specific trainings geared toward the responsibilities of different program offices and issue areas also may be identified or developed and offered.” Other actions seem to favor some groups over others. Changing the “percentage” of benefits received necessarily requires giving contracts, grants, or other federal resources to certain groups, almost always at the expense of white Americans, even more often white men. For example, the American Battle Monuments Commissions in its Equity Action Plan called for “expanding the percentage of U.S.-based contracted goods and services awarded to minority-owned, women-owned, and service disabled veteran-owned enterprises.” In fact, the ABMC pledged to pay a worker for this sole purpose. In another instance, the Smithsonian Institute pledged to recruit more Black and indigenous interns. “One of the simplest ways to ensure equity and accessibility in internships is to provide a livable stipend and advertise it clearly in promotion materials,” the federal group said in its Equity Action Plan. “Many units include a statement directly in their internship description about their commitment to equity. They also are intentional about making the application process simple and transparent, offering access services for interviews and allowing for multiple formats in place of a required essay.” The Smithsonian Institution , the federal steward of America’s past, also promised to begin promoting a historical framework that emphasizes American racism in the past and today. The federal group pledged to “Address the historical roots and contemporary impacts of race and racism in the United States and globally through interdisciplinary scholarship, creative partnerships, dialogue, education, and engagement.” The Center Square has reported on other examples of DEI policies and grants becoming the norm in recent years as well, though much of this kind of spending began before the Biden-Harris administration took power. Those include: