Treasurer Jim Chalmers (Image: AAP/Mick Tsikas) It’s hard to work out the logic of Labor’s new mandate to the Future Fund. Is it pointless rhetoric, or an intervention in what should be an independent body dedicated to covering the cost of the government’s own superannuation obligations? Shorn of its language about “elevating its status as an enduring national asset and making the fund an ongoing feature of Australia’s economy” (somehow it was neither of these until now), the announcement from Treasurer Jim Chalmers and Finance Minister Katy Gallagher promises an “investment mandate [that] will require the fund to consider Australia’s national priorities in its investment decisions, where possible, appropriate and consistent with strong returns”. Those priorities are housing, the transition to renewable energy and “delivering improved infrastructure located in Australia including economic resilience and security infrastructure”. Yes, that’s almost certainly the stench of AUKUS emanating from that last phrase. Not merely does Labor want to blow $400 billion on entirely unnecessary subs that may well never be delivered, it wants the Future Fund to help pay for it. Except the government is at pains to insist it’s not using a new statement of expectations to force the Future Fund to do anything. Merely that the Future Fund — now chaired by Labor’s Greg Combet, an echo of a more talented Labor frontbench from an earlier generation — need, while continuing to prioritise returns, to be “cognisant of these national priorities”. “Cognisant”. This is fine: Risk of economic shocks aside, Australia has no need to worry about Trump, Labor says Read More The obvious question is, if the Future Fund saw the best opportunity for returns in the residential property market, or energy infrastructure, or building a new submarine base for nuclear vessels, it would invest in these things — so why does it need a mandate to “be cognisant” of such areas? What will the Future Fund do differently now than before? Engage in a box-ticking exercise to check that it had run the ruler over every security infrastructure or housing deal before deciding to invest elsewhere? What’s the point? If the Coalition were in office and the Future Fund was being directed to be “cognisant” of investing in fossil fuels, would Labor be talking about how it was “not an especially controversial change”? The rich irony is that Chalmers is telling the Future Fund to be “cognisant” of renewable energy projects while Labor is encouraging, and helping to fund, investment in fossil fuel projects. It’s committed to half a billion dollars for geological surveying that it will hand fossil fuel companies for free . It’s investing $1.5 billion to help build a gas export facility at Middle Arm in Darwin , with the help of some Labor mates. Fossil fuel companies get to dictate how much petroleum resource rent tax they pay (a reason why the Future Fund is currently $294 billion when Norway’s sovereign wealth fund, built on North Sea gas and oil revenues, is worth US$1.7 trillion). This isn’t the first time Labor has tried to interfere — while insisting it isn’t interfering — with a key independent institution. It also used a statement of expectations to nobble the Productivity Commission (PC) this time last year — demanding the PC “take account of the government’s productivity agenda”, including “getting to net zero and becoming a renewable energy superpower”. The PC had already flagged concerns about Labor’s manufacturing subsidies and protectionism in its Future Made In Australia policy, but Chalmers’ statement seemed a warning shot for the PC not to dare criticise key parts of Labor’s policies. Chalmers also directed the PC to consult with government departments more — thus giving economically illiterate departments like Foreign Affairs and Trade a great role in shaping PC work — and to keep the secretary of Treasury in the loop about its activities. Governments don’t issue these diktats randomly or merely for window dressing. The whole purpose of statements of expectations — a mechanism developed by the Howard government to bring agencies under greater political control — is to signal to senior bureaucrats, including the heads of independent institutions, how politicians expect them to carry out their roles. Chalmers’ new statement for the Future Fund is a set of indicators about where he wants the Future Fund to invest — whether it makes financial sense or not. Have something to say about this article? Write to us at letters@crikey.com.au . Please include your full name to be considered for publication in Crikey’s Your Say . We reserve the right to edit for length and clarity.Botafogo won the Copa Libertadores for the first time in their history with a 3-1 victory over fellow Brazilians Atletico Mineiro on Saturday. Botafogo played almost the entire match with ten men after Gregore was sent off in the first minute but they showed impressive spirit and resilience to secure victory at River Plate's Monumental Stadium in Buenos Aires. Midfielder Gregore was shown a red card after a wild, high challenge on Fauto Vera, forcing Botafogo to adjust their game plan, but Atletico failed to press home their numerical advantage. Veteran forward Hulk had an effort from outside the box saved by John but the team from Belo Horizonte created little pressure. Sensing the game might not be the rearguard action they might have expected, Botafogo began to show more attacking intent and they were rewarded in the 35th minute. Marlon Freitas's shot from the edge of the box ricocheted around a crowded box before the ball fell to Luiz Henrique, who fired home from close range. To their credit, Botafogo didn't retreat to defend their slim advantage and they were able to double their lead in the 44th minute. Atletico defender Guilherme Arana attempted to shepherd the ball back to goalkeeper Everson but Luiz Henrique snuck between the pair and went down under challenge from the keeper. After a VAR review, a penalty was awarded and Alex Telles confidently smashed home the spot kick to give Botafogo an unlikely 2-0 lead at the break. Atletico, who won the Libertadores in 2013, made a triple substitution at the interval and it paid off swiftly with Eduardo Vargas heading in from a corner. Inevitably, there was late pressure from Atletico, but Botafogo made sure of the victory when Junior Santos finished off a counter-attack deep in stoppage time. With the win, Botafogo earns the final of 32 places in next year's FIFA Club World Cup to be held in the United States. sev/js
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BAKU, Nov 25 — Rich countries’ promise of US$300 billion a year in climate finance brought fury at talks in Baku from poor nations that found it too paltry, but it also shows a shift in global political realities. The two-week marathon COP29 climate conference opened days after the decisive victory in the US presidential election of Donald Trump, a sceptic both of climate change and foreign aid. In the new year, Germany, Canada and Australia all hold elections in which conservatives less supportive of green policies stand chances of victory. Britain is an exception, with the new Labour government putting climate high back on the agenda, but in much of the West, concerns about inflation and budgetary shocks from Russia’s invasion of Ukraine have dented enthusiasm for aggressive climate measures. At COP29, Germany and the European Union maintained their roles championing climate but also advocated a noticeably practical approach on how much money historical polluters should give poorer countries. “We live in a time of truly challenging geopolitics, and we should simply not have the illusion” otherwise, European climate commissioner Wopke Hoekstra told bleary-eyed delegates at COP29’s pre-dawn closing session Sunday, as activists in the back loudly coughed to drown him out. But he vowed leadership by Europe, hailing COP29 as “the start of a new era for climate finance”. German Foreign Minister Annalena Baerbock, a Green party member and longtime climate advocate, called for flexibility on ways to provide funding. Europe should “live up to its responsibilities, but in a way that it doesn’t make promises it can’t keep”, she said. Avinash Persaud, special advisor on climate change to the president of the Inter-American Development Bank, called the final deal “the boundary between what is politically achievable today in developed countries and what would make a difference in developing countries”. Activists say that climate funding is a duty, not choice, for wealthy nations whose decades of greenhouse gas emissions most contributed to the crisis that most hits the poorest. This year is again set to be the hottest on record on the planet. Just since COP29, deadly storms have battered the Philippines and Honduras, and Ecuador declared a national emergency due to drought and forest fires. ‘Creative accounting’? Wealthy historic emitters’ promise of US$300 billion a year by 2035 is a step up from an expiring commitment of US$100 billion annually, but all sides acknowledge it is not enough. The COP29 agreement cites the need for US$1.3 trillion per year, meaning a whopping US$1 trillion a year needs to come from elsewhere. Even within the US$300 billion commitment, some activists see too much wiggle room. “It is, to some extent, almost an empty promise,” said Mariana Paoli, the global advocacy lead at London-based development group Christian Aid. She described the target as “creative accounting”, saying there was not enough clarity on how much money would come from public funds and in grants rather than loans. She acknowledged the politics of the moment but said that wealthy nations had options such as taxation on fossil fuel companies. “There is a backlash because there is no political will,” she said. Role for multinational banks In one closely scrutinised part of the Baku deal, countries will be able to count climate finance through international financial institutions toward the US$300 billion goal. The text states that it is “voluntary” — potentially opening the way to include China, which is the world’s largest emitter but refuses to have requirements like long-developed countries. In a joint statement at COP29, multilateral development banks led by the Washington-based World Bank Group but also including the Beijing-based Asian Infrastructure Investment Bank — which has long faced US criticism — expected that they together can provide US$120 billion annually in climate financing and mobilise another US$65 billion from the private sector by 2030. Melanie Robinson, director of the global climate program at the World Resources Institute, said there were good reasons to rely on multinational development banks, including how much capital they can leverage and their tools to advance green policies. “They are the most effective way to turn each dollar of finance into impact on the ground,” she said. She agreed that the US$300 billion was insufficient but added, “It’s a down payment on what we need.” Beyond the debate on dollar figures, she pointed to an initiative within the G20 by Brazil, which holds COP30 next year, to reform financial institutions so as to incorporate debtor nations as well as climate concerns. “There is really a much bigger opportunity for us — which is shifting the whole financial system,” she said. — AFPIllegal immigration is a global issue that affects economies, social cohesion, and national security. Countries worldwide, including the United States and many European nations, face increasing pressure from undocumented migrants, sparking debates on balancing humanitarian responsibility with national security. India faces immigration challenges, both domestically and in terms of emigration to western nations. A recent report showed that nearly 9,00,000 undocumented Indians were caught in the U.S., with half of them being from Gujarat. As a rising global power, India has an opportunity to lead efforts for regulated migration, reduce illegal routes, and promote international cooperation. Illegal immigration affects all regions. In the U.S., (now President-elect) Donald Trump’s hardline approach (in his first tenure), which included calls for mass deportations, has generated significant debate. Large-scale deportations are estimated to cost the U.S., $315 billion, with long-term expenses reaching nearly $968 billion over a decade. Beyond the financial impact, this approach risks losing skilled labour, reducing tax revenues, and separating families. These challenges highlight the need for coordinated action to address the root causes of illegal immigration worldwide. India’s domestic experience India has its own challenges. Some of the northeastern States such as Assam and West Bengal have seen considerable migration from neighbouring countries such as Bangladesh and Myanmar. This influx has raised concerns about employment, social stability, and cultural preservation. In response, India has introduced measures such as the National Register of Citizens (NRC) and the Citizenship (Amendment) Act (CAA). While these initiatives have sparked controversy, they underline India’s efforts to balance national security with humanitarian obligations. India’s experience shows the importance of fair and effective solutions. India-U.S. collaboration India and the U.S. could benefit significantly from a coordinated approach to immigration policy. By sharing best practices and intelligence, both countries can better address security concerns, streamline legal migration, and reduce incentives for illegal immigration. Cooperation could enhance security and foster economic stability and family unity. Some potential areas of cooperation between India and the U.S. include, first, enhanced border security. By jointly working to secure borders, using technology and intelligence sharing, both nations could more effectively prevent illegal crossings. The second area is streamlined migration processes. Simplifying and expediting legal migration channels would reduce wait times and incentivise lawful immigration, making it easier for migrants to follow legal pathways. The third area would be economic development initiatives. Programmes that promote economic growth in high-migration regions could address root causes, providing stability and opportunity locally. The fourth is in humanitarian assistance. Joint efforts to provide aid and support to migrants and refugees would promote safety and dignity, reducing the need to pursue illegal channels. India could also take a proactive role in supporting the voluntary return of undocumented Indian migrants. Partnerships with U.S. immigration agencies could enable an agreed-upon repatriation process, with the Indian government covering part of the expenses to help returning citizens reintegrate into society. This initiative would offer a humane, organised solution, allowing India to address illegal immigration with compassion and responsibility. Efforts to curb illegal immigration may also help strengthen India’s relationship with the U.S. President-elect, who is viewed as a transactional leader and may be inclined to reciprocate with favourable policies or support in other areas. This collaboration could thus bring mutual benefits in multiple spheres of bilateral interest. Western countries should consider their approach to unauthorised migration from stable democracies such as India. Allowing unauthorised migration from democracies disrupts the sovereignty and governance in these countries. To respect human rights, western nations should prioritise legal migration channels and support democratic governments rather than enabling illegal migration. India’s role at the United Nations India’s influence at the United Nations positions it to advocate global solutions to illegal immigration. India can propose resolutions that emphasise border security, fair treatment of migrants, and efficient repatriation processes. Leading efforts to create internationally agreed protocols, India can play a central role in fostering a migration system that is both secure and humane. By collaborating with nations that frequently receive Indian migrants, such as the U.S. and European countries, India can establish clear, lawful migration pathways and work towards combating human trafficking and illegal immigration networks. Illegal immigration is a complex global issue that requires coordinated, multilateral action. India, as a rising global power, is well-positioned to lead by promoting regulated migration, supporting the return of undocumented migrants, and encouraging international cooperation. Working with partners such as the U.S., India can create a more humane, effective immigration system, setting an example for addressing one of the world’s most pressing challenges with compassion, cooperation, and shared responsibility. This partnership also has the potential to benefit India in its relationship with the U.S., as a transactional approach could see both sides reaping rewards for mutual efforts. Americai V. Narayanan, a Green Card holder returnee from the United States, is a member of the Indian National Congress and a political and economic analyst. He has been a long-standing advocate for global cooperation on humanitarian and development issues Published - November 24, 2024 04:10 am IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit illegal immigrants / national security / economy (general) / social issue / USA / European Union / India / Gujarat / migration / immigration / US PRESIDENTIAL POLLS / labour / taxes and duties / family / Assam / West Bengal / Bangladesh / Myanmar / National Register of Citizens / Citizenship Amendment Act / technology (general) / espionage and intelligence / laws / refugee / democracy / government / United Nations / human traffickingTROY, Ala. (AP) — Damien Taylor rushed for 169 yards and three touchdowns, Matthew Caldwell threw for a touchdown and ran for another, and Troy scored 21 points in less than two minutes in the fourth quarter to beat Southern Miss 52-20 on Saturday. Taylor went straight up the middle from 56-yards out to give Troy a 24-8 lead midway through the third quarter. He added a 35-yard scoring run for a 38-20 lead with 5:50 left in the fourth. On the ensuing possession, Ian Conerly-Goodly intercepted a deflected pass and returned it 31 yards for a 25-point lead. Southern Miss quarterback Tate Rodemaker was intercepted again and LJ Green returned it 49 yards to the Golden Eagles' 16-yard line. Jordan Lovett capitalized on the short field by running it in from the 5. Taylor reached the 1,000-yard mark on the season for Troy (4-8, 3-5 Sun Belt Conference). Caldwell was 14 of 26 for 187 yards and he carried it seven times for 30 yards. Rodemaker threw for 234 yards with two touchdowns and two interceptions for Southern Miss (1-11, 0-8). Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
Lions CBs Terrion Arnold, Ennis Rakestraw Jr. out vs. ColtsLENS, France (AP) — Pierre-Emile Højbjerg scored after VAR came to the rescue for Marseille to beat Lens 3-1 in the French league on Saturday. The Denmark midfielder struck in the 89th minute with a free kick awarded when Rémy Labeau-Lascary had what would have been a late equalizer ruled out for a foul by Angelo Fulgini in the buildup. The decision prompted a chorus of whistles from the home fans, who were further riled to see former Lens player Elye Wahi go on for the visitors. Valentin Rongier fired Marseille ahead early in the second half, set up by Neal Maupay, who had been played into the danger area by a good ball from Mason Greenwood. Brazilian forward Luis Henrique made it 2-0 on a counterattack in the 57th. Fulgini pulled one back from close range in the 80th after M’Bala Nzola had two efforts blocked on the line, and Labeau-Lascary thought he’d equalized in the 86th, only for Fulgini’s shove to prove decisive at the other end. The win helped Marseille consolidate third place after its third successive win away from home. Roberto De Zerbi’s team has failed to win any of its last three home games. Following a serious illness, former Lens president Gervais Martel kicked the ball in a symbolic gesture ahead of the actual kickoff. The 70-year-old was visibly moved by the reception he received from fans who displayed a giant banner thanking him for his leadership, and from players who lined up with his name on their jerseys. Benjamin Bouchouari's strike from distance after a botched clearance was enough for Saint-Etienne to beat last-place Montpellier 1-0 at home. It was the visitors' ninth defeat from 12 games, and sixth consecutive on the road. Lyon visited Reims later Saturday. AP soccer: https://apnews.com/hub/soccerMONTGOMERY, Ala. (AP) — Brandon Gilliam made field goals of 42, 29 and 30 yards and Alabama State beat Prairie View A&M 9-6 on Saturday to secure a third straight winning season under coach Eddie Robinson. The last time Alabama State had three straight winnings seasons was under coach Reggie Barlow, who had five consecutive from 2010-15. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
SANTA CLARA, Calif. (AP) — San Francisco 49ers star running back Christian McCaffrey will not need surgery on his injured right knee but he will miss the rest of the regular season. Coach Kyle Shanahan said Monday that McCaffrey will be out at least six weeks after injuring his posterior cruciate ligament in a loss to the Buffalo Bills on Sunday night . McCaffrey will be placed on injured reserve for the second time this season after previously missing the first eight games with Achilles tendinitis. “I just feel for him,” Shanahan said. “It was a real frustrating year for him. He worked his ass off to get back to this point and I think he was really feeling good and about to take off and just had that real unfortunate injury last night. I know he’s as crushed as anyone, but he’ll get through this. He’s a hell of a player, a hell of a person and an unbelievable 49er. He’ll be back stronger than ever next year to help us.” San Francisco (5-7) sits alone in last place in the NFC West standings, two wins behind division-leading Seattle, and in jeopardy of missing the playoffs a year after losing to Kansas City in the Super Bowl. The 49ers also lost McCaffrey's backup to an injury with Jordan Mason also set to go on injured reserve after suffering a high ankle sprain in the game against the Bills. It has been a frustrating season for McCaffrey, who won the 2023 AP Offensive Player of the Year then signed a lucrative contract extension in the offseason. McCaffrey injured his Achilles tendon early in training camp and missed the first eight games of the season. He rushed for just 149 yards on 43 carries in his first three games back as he struggled to get back to form. He looked much better early Sunday night with seven carries for 53 yards, including a 19-yarder that was his longest of the season. He appeared to hurt his knee on an 18-yard run in the second quarter. He then went down immediately on his next carry on a sweep to the left on a snow-slicked field for a 5-yard loss. Mason had played well as McCaffrey's replacement, rushing for 789 yards and averaging 5.2 yards per carry this season. San Francisco will now turn to rookie Isaac Guerendo and promote Patrick Taylor from the practice squad. Shanahan said the team will also look to add another running back to the mix. In other injury news from the game, defensive lineman Kevin Givens tore his pectoral muscle and will be out for the rest of the season. Shanahan said cornerback Deommodore Lenoir should be back at practice Wednesday after missing the game with a knee injury and that stars Nick Bosa (hip, oblique) and Trent Williams (ankle) will be evaluated as the week goes on. Bosa and Williams have both missed the last two games. Williams has also been dealing with family tragedy as his wife announced on Instagram that she gave birth to stillborn Trenton O’Brien Williams Jr. on Nov. 24. Sondra Williams also wrote that she was initially pregnant with twins and lost the other child earlier in the pregnancy. Shanahan said Williams spent time with his family last week but is trying to get back to play. “He was there at the hospital with her and got to meet him and say bye,” Shanahan said. “Then he had to cremate him on Friday. So he’s been dealing with that and he’s working through it. We’re all just trying to be there for him through it all.” NOTES: OL Aaron Banks and DT Jordan Elliott remain in the concussion protocol. ... LB Demetrius Flannigan-Fowles (knee) is day to day. ... LB Dre Greenlaw will get more work this week after his practice window was opened last week for the first time since he tore his Achilles in the Super Bowl. ... S Talanoa Hufanga (wrist) will have his IR practice window opened this week. AP NFL: https://apnews.com/hub/nfl
Stop interfering with independent institutions, treasurerPat Sajak's 'Rugrats' Cameo Is as Disturbing as It Is Nostalgic
Ohio State head coach Ryan Day has come under fire for his passive stance on the sidelines during a postgame brawl between his players and Michigan on Saturday. The Buckeyes were handed their fourth consecutive loss by the Wolverines, courtesy of Dominic Zvada's 21-yard field goal in the final quarter, resulting in a tight 13-10 victory for Michigan . Post-match, the Wolverines attempted to stake their flag at the center of Ohio Stadium , prompting a forceful response from Ohio State. Dave Portnoy weighs in on Michigan vs. Ohio State brawl as cops use pepper spray Michigan vs Ohio State ends in chaos as players brawl and police intervene Coaches from both sides rushed to defuse the situation as punches flew and helmets littered the turf, with the Franklin County Sheriff's Office stepping in. Despite Day's apparent reluctance to intervene, his leadership has been called into question for not attempting to usher his players back to the locker room. However, despite the unsightly scenes, Day stood by his players in his postgame press conference, stating: "I don't know all the details, but I know these guys were looking to put a flag on our field, and we're not going to let that happen." Reflecting on the defeat, he added: "Not easy to accept... have to take the ownership. I'm the one who makes the final decisions." The unexpected loss has put a dent in Ohio State's chances at the Big Ten Championship game and receiving a first-round College Football Playoff bye, while also increasing the pressure on Day. Since Day took over as head coach in 2019, the Buckeyes have an impressive 66-10 record, but their performance in crucial games continues to be a concern. DON'T MISS: Georgia sparks debate with escape vs Georgia Tech ahead of College Playoff Colts cult hero Andrew Luck confirms football return after retiring aged 29 Matt Rhule expecting up to 50 Nebraska players to enter transfer portal Ohio State's record stands at 2-4 in bowl games and 1-3 in the College Football Playoffs, but the lack of a victory against Michigan since 2019 is unacceptable to some fans. Another defeat in the rivalry, coupled with Day's reluctance to shield his players on Saturday, has left some fans seething. "Ryan Day, your whole team is in the midst of a brawl, and you're on the sideline asking 'what happened?' Huh!? Get your butt on the field and command your players go to the locker room," one fan wrote on X. "That requires leadership skills. Apparently, you've been absent for the past three years. He doesn't possess any," another fan harshly responded. "Ryan Day being caught on camera observing his team fight after a game while other adults - including armed law enforcement officers - try to intervene is about as fitting as it gets," added another. Michigan running back Kalel Mullings, who scored the only touchdown on Saturday, criticized Ohio State for not showing fight during the game and only acting up once the match was over. "For such a great game, it's disappointing to see stuff like that post-game. It's just bad for the sport, bad for college football," Mullings commented on FOX. "But at the end of the day, some people, they've got to learn how to lose. You can't be fighting and stuff just because you lost the game. All that fighting, we had 60 minutes, we had four quarters to do all that fighting. Now, people want to talk and fight. That's wrong. It's just bad for the game. Classless, in my opinion. People got to be better."
N. ILLINOIS (2-4) Butler 2-10 0-2 5, Dent 0-8 0-0 0, Jones 7-15 0-0 16, Muhammad 0-3 0-0 0, Munden 0-4 2-2 2, Gooden 1-4 8-8 10, McPherson 2-6 2-3 6, Sotirov 4-12 0-0 11, Nicholls 1-5 0-0 2, Durosinmi 0-0 0-0 0, Mott 0-0 0-0 0. Totals 17-67 12-15 52. DEPAUL (6-0) D'Amico 1-3 0-0 2, Skogman 2-5 3-4 7, Blocker 8-13 2-2 21, Enright 5-6 0-0 13, Rivera 2-7 1-2 5, Traynor 3-4 1-1 7, Benson 3-5 2-4 8, Gunn 4-9 0-0 11, Meyer 5-10 0-0 14, Thomas 2-3 2-2 7, Riddle 1-1 0-0 3, Pierre-Justin 0-0 0-0 0. Totals 36-66 11-15 98. Halftime_DePaul 51-15. 3-Point Goals_N. Illinois 6-29 (Sotirov 3-9, Jones 2-6, Butler 1-6, Gooden 0-1, Muhammad 0-1, Munden 0-1, Dent 0-5), DePaul 15-29 (Meyer 4-5, Enright 3-3, Blocker 3-5, Gunn 3-6, Riddle 1-1, Thomas 1-2, D'Amico 0-1, Skogman 0-1, Traynor 0-1, Rivera 0-4). Rebounds_N. Illinois 25 (Dent, Jones 6), DePaul 54 (Skogman 11). Assists_N. Illinois 12 (Dent 4), DePaul 22 (Enright 4). Total Fouls_N. Illinois 12, DePaul 14.Pete Hegseth who is the US President- elect Donald Trump's nominee for Secretary of Defense, is eventually facing serious allegations from his mother, Penelope Hegseth following the release of an email from the year 2018. According to Daily Beast, in the email, she accused him of mistreating women for years and expressed deep disappointment in his character. Daily Beast reported that she stated, ‘On behalf of all the women (and I know it’s many) you have abused in some way, I say... get some help and take an honest look at yourself’. Penelope Hegseth severely criticized his treatment of his second wife named Samantha during their contentious divorce while labeling his actions as ‘despicable and abusive’. Also Read : NYT Connections hints and answer for November 30 (#538): Today's puzzle breakdown Following the email's publication by The New York Times, Penelope Hegseth recanted her statements while claiming that they were made in anger and did not reflect her son's true character, asserted Daily Beast. She also described him as a good father and husband and expressed regret over the email's release. Pete Hegseth has also faced a rape allegation from the year 2017, which he eventually denies while asserting that the encounter was consensual and that he paid a settlement to avoid jeopardizing his career at Fox News, noted Daily Beast. The resurfacing of these allegations comes as scrutiny intensifies ahead of his Senate confirmation hearings. 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Pete Hegseth who is the US President- elect Donald Trump's nominee for Secretary of Defense, is eventually facing serious allegations from his mother, Penelope Hegseth following the release of an email from the year 2018. What was the reaction of Penelope Hegseth following the publication of the email? Following the email's publication, Penelope Hegseth recanted her statements while claiming that they were made in anger and did not reflect her son's true character. (You can now subscribe to our Economic Times WhatsApp channel )
NEW YORK , Nov. 25, 2024 /PRNewswire/ --The global travel market size is estimated to grow by USD 5.50 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 18.52% during the forecast period. Growing popularity of experiential travel is driving market growth, with a trend towards increasing international tourist footfall. However, threat from growing terrorism poses a challenge. Key market players include Accor S.A., American Express Global Business Travel GBT, Balkan Holidays Ltd., BCD Travel Services BV, Booking Holdings Inc., Carlson Inc., Corporate Travel Management Ltd., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group Ltd., G Adventures, JPMorgan Chase and Co., JTB Corp., MakeMyTrip Ltd., Marriott International Inc., Omega World Travel Inc., PT Global Digital Niaga, Traveloka, The Scott Travel Group Ltd., Travel Leaders Group Holdings LLC, World Travel Holdings, and World Travel Inc., Airbnb, Inc., Hilton Worldwide, InterContinental Hotels Group (IHG), Hyatt Hotels Corporation, Carnival Corporation, Royal Caribbean Group. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Market Driver Inbound tourism has experienced significant growth worldwide, leading to an increase in the number of tourists and demand for travel activities. Business travel, both international and domestic, is a significant contributor to this trend. The presence of numerous multinational corporations drives corporate visits, boosting the travel industry. Online travel platforms cater to the rising demand for travel activities from an increasing number of international tourists, primarily from North America , Europe , and the Pacific region. Government initiatives, such as improved connectivity through new airports, further fuel tourism growth. Overall, these factors are expected to expand the global travel market during the forecast period. The travel industry is experiencing significant shifts driven by trends such as the growing middle class population, heightened security and health concerns, and the increasing role of foreign tour operators and online platforms. Digital transformation is at the forefront, with tourists relying on online resources for trip planning, booking flight tickets and hotels, and even renting cars. Economic stability and leisure activities continue to be key motivators for vacations and holiday packages. The pandemic has created an acquisition opportunity for online travel agents, with promotional activities and new year holidays driving bookings. Mobile apps and holiday packages for international cities cater to elite travelers seeking new experiences in unexplored destinations. The luxury travel market remains strong, with a focus on security and personalized services. Overall, the online travel market is thriving, offering tourists convenience, affordability, and access to a world of new opportunities. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Terrorist activities have grown globally since 2016, with the primary goal being to instill fear and alter people's behavior. An example is the bombing on January 1, 2023 , at a Kabul checkpoint near the commercial airport, resulting in injuries and fatalities. This incident directly affects industries like hotels and travel, as border clearances experience delays and stricter inspections. Furthermore, heightened security around oil and gas pipelines and electricity transmission lines leads to increased costs. Travel insurance and reinsurance also become more expensive. Consequently, the rise in terrorist activities may impede the expansion of the global travel market during the forecast period. The travel market faces various challenges in both the tourism sector and beyond. Micro trips are popular, but providing personalized services, reliable transport, and professional interaction remains crucial for customer satisfaction. Political stability is essential for business growth, especially for customized tours and private tours. Technological advancements, such as the adoption of IoT, impact airlines, cruise liners, hotels, and resorts. Natural disasters and stringent immigration policies pose risks. Business, sports, and cultural events drive domestic and overseas travel. Governmental support and infrastructural development are vital for addressing challenges like public transportation and accommodation facilities. Rapid globalization and the interconnected world increase competition, requiring technical integration and online booking platforms. Social media networks and influencer marketing influence travel decisions. Country revenue depends on addressing challenges like political instability, natural disasters, and stringent immigration policies. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This travel market report extensively covers market segmentation by 1.1 Transportation 1.2 Hotel 1.3 Travel activities 2.1 Leisure 2.2 Business 3.1 APAC 3.2 Europe 3.3 North America 3.4 South America 3.5 Middle East and Africa 1.1 Transportation- The Travel Market is a thriving industry that connects service providers with customers seeking unique travel experiences. It offers various opportunities for businesses to expand their reach and increase sales. By utilizing effective marketing strategies and providing exceptional customer service, companies can attract and retain customers. The Travel Market also encourages innovation and collaboration, allowing businesses to offer competitive prices and diverse offerings. Overall, it is a dynamic and profitable sector that continues to grow and evolve. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The online travel market has experienced significant shifts in the wake of the pandemic, with a growth in domestic tourism and an increase in bookings for New Year holidays. Mobile apps have become essential tools for travelers, allowing them to easily compare holiday packages, book flights, hotels, car rentals, and more. The adoption of IoT technology in the tourism sector offers new experiences and personalized services, creating opportunities for innovation. However, political instability, natural disasters, and stringent immigration policies pose challenges. The acquisition of smaller players in the online travel market presents opportunities for growth, particularly in the luxury travel market catering to elite travelers. Unexplored destinations and micro trips are also gaining popularity as travelers seek new experiences. Business and sports travel are expected to rebound as restrictions ease. Despite these trends, the tourism sector continues to face uncertainty and must adapt to changing consumer preferences and external factors. Market Research Overview The online travel market has seen a significant growth during the pandemic as people look for acquisition opportunities in the tourism sector. Domestic tourism has become a popular choice for travelers, leading to an increase in bookings for new year holidays. Mobile apps and online travel agents offer convenience for holiday packages, car rentals, and international city explorations. The luxury travel market caters to elite travelers seeking new experiences in unexplored destinations. Micro trips and personalized services are also in demand, as is reliable transport and professional interaction. Political stability, customized tours, and private tours are essential for some travelers, while others prioritize baby boomers, Gen X, and millennials' preferences. Technological advancements, such as the adoption of IoT, have transformed the industry, with online booking platforms, travel websites, and rapid globalization playing key roles. However, challenges such as political instability, natural disasters, and stringent immigration policies persist. Business, sports, and leisure activities continue to drive travel, with economic stability and infrastructure development crucial for the tourist industry's digital transformation. Online resources, flight tickets, hotels, and trip planning remain essential, with health and security concerns also influencing travel decisions. Foreign tour operators and online platforms cater to various tourist destinations, while influencer marketing, travel blogs, and user-generated content shape travel trends. Country revenue depends on public transportation, accommodation facilities, and the middle class population's growing demand for travel. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Sector Transportation Hotel Travel Activities Type Leisure Business Booking Type Mode of Travel Geography APAC Europe North America South America Middle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE TechnavioHuge Australian crocodile made famous by cameo role in Crocodile Dundee diesPHILADELPHIA (AP) — The Philadelphia Phillies have no plans to pitch prized prospect Andrew Painter in spring training games as he recovers from Tommy John surgery. The 21-year-old Painter hurt his elbow during spring training in 2023 and had surgery that July 25 with Los Angeles Dodgers head team physician Dr. Neal ElAttrache. Painter was the 13th overall pick in the 2021 amateur draft and signed for a $3.9 million bonus. “He'll throw but not plan on pitching” in games, Phillies president of baseball operations Dave Dombrowski said Monday. “We're going to push the innings back.” Dombrowski said Painter will build up at some point in the minor leagues and could make his major league debut at some point in the summer. Painter made six starts and allowed four runs in the Arizona Fall League. He struck out 18 batters in 15 2/3 innings after he sat out each of the last two seasons. Painter sprinted through Philadelphia’s system in 2022, going 6-2 with a 1.48 ERA in 26 appearances spread across two Class A teams and Double-A Reading. ___ AP MLB: https://apnews.com/hub/MLB The Associated Press