LONDON: Is China a friend or foe to Europe? For some European countries, China is one of the largest trade partners and investors. There could be a positive, symbiotic connection, but sometimes Beijing appears to undermine those relationships. In the UK, details emerged in mid-December of an alleged Chinese spy who had developed close relations with, among others, Prince Andrew . The case of Yang Tengbo , also known as Chris Yang, highlights the challenges that countries looking to build closer ties to China face. Concerns over espionage, unfair trading practices and cyberattacks all appear to be the price of access to China’s substantial market and investment opportunities. The question countries such as the UK face is whether the costs are worth the benefits. WHO IS YANG TENGBO? Yang Tengbo is a 50-year-old Chinese businessman who has been a key figure in Sino-UK industrial relations for years. He serves as the executive chairman of the UK-Chinese Business Association and was a member of the 48 Group Club, another Sino-UK business association. He first arrived in the UK in 2002 and by 2013 had gained indefinite leave to remain. Through his various firms, which aim to provide advice to facilitate interactions between Chinese and UK entities, and his association positions he developed a range of close relations with high-level political figures in the UK. His relationship with Prince Andrew was so close as to be invited to the royal’s 60th birthday party and warrant the Duke of York’s senior advisor, Dominic Hampshire, to tell Yang that "outside of his closest internal confidants, you sit at the top of a tree that many, many people would like to be on". Through this connection, Yang joined visits to St James’ Palace and Windsor Castle, and has been photographed alongside David Cameron, Theresa May and her husband in Downing Street. Yang’s level of access alarmed UK security forces. In 2021, he was stopped at the border and his digital devices were taken. The data from those devices led UK security services to believe that Yang was linked to the United Front Work Department, a Chinese government agency that utilises overseas Chinese citizens to gain influence and spy on individuals and organisations overseas. In 2023, Yang’s residency rights were cancelled and he was banned from the UK. AWKWARD TIMING While there are significant questions over Yang’s level of influence and any nefarious activity, it is far from the only incident of espionage or malign operations by China against the UK. In May, the UK accused Chinese hackers of accessing 270,000 payroll records of the UK armed forces. In January 2022, MI5 issued a security alert about an alleged Chinese agent, Christine Ching Kui Lee , who was alleged to be attempting to gain influence with UK parliamentarians on behalf of the Chinese government. These influence and espionage operations are not confined to the UK. Countries throughout Europe, North America and Asia have all attributed similar operations to some form of Chinese official backing. But the Yang case comes at a particularly awkward time for the UK’s new Labour government. Under Prime Minister Keir Starmer, the government is eager to foster growth at all costs, deepening trade relations with as many countries as possible, including the United States, European Union members, India and China. The latest revelations about Chinese influence operations at the top of UK society is therefore embarrassing for the government as it attempts to smooth over its often bumpy relationship with Beijing. The difficulties London faces in its relations with Beijing were highlighted by Starmer’s response to a question about Yang. Rather than openly criticise Beijing, Starmer chose instead to suggest that it was “better to engage” with China and that he was “pleased with the engagement and the progress that we’ve made”. FRIEND OR FOE? The problem for many countries, especially those in Europe struggling with tepid economic growth and facing the prospect of a hostile trade relationship with the US under Donald Trump, is that China is too big a market to ignore. However, the price of doing business with China is often to downplay the influence operations, espionage, dumping and other malign activities that Beijing seems reluctant to dispense with. From China’s perspective, the goal of such operations is to learn more about and gain more influence over countries in the West that are seen as competitors or rivals. London is a particularly good target, not only as a major economy and global power, but a close ally to the United States, major contributor to the North Atlantic Treaty Organization (NATO) and significant defence power in its own right. The UK now must decide whether to paper over these unsightly activities by China for the sake of economic ties, or to make its position known to China. A key moment will be whether the government allows a new Chinese embassy to be built on the site of the former Royal Mint, the maker of UK coins, in east London, despite objections from local authorities. If approved, it would be China’s largest embassy in Europe and more than a third larger than the US’ own new embassy in south London. The number of diplomatic staff would give a huge boost to potential Chinese influence and espionage operations in the UK. It remains to be seen if that is a price the Starmer government is willing to pay. Christian Le Miere is a foreign policy adviser and the founder and CEO of Arcipel, a strategic advisory firm based in London.Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes officeNvidia 's ( NVDA 3.08% ) stock has been a huge winner each of the past two years. After surging over 238% in 2023, the stock has soared approximately 164% this year, as of this writing. Those are two huge back-to-back year gains that have propelled the company to become one of the largest in the world. The question is, can the stock hit the market with a three-peat of outsized gains in 2025? Interestingly, the stock has been able to generate returns of 30% or more for three straight years on four previous occasions and returns of 50% or greater for three straight years twice. It has never had four years in a row of 30% or more returns, but it did have one stretch where its stock rose by 25% or more for five straight years from 2013 to 2017. Let's look at why I think Nvidia can turn in another year of strong performance in 2025. Insane demand for AI chips Any investment in Nvidia centers around spending on artificial intelligence (AI) infrastructure. The graphics processing units (GPUs) that it designs have become the backbone of the AI infrastructure buildout, as GPUs can perform many calculations at the same time, making them ideal for use in training large language models (LLMs) and running AI inference . Meanwhile, as AI models become more sophisticated, they need exponentially more computing power, and thus GPUs, to advance. For example, both Amazon 's Llama 4 LLM and xAI's Grok 3 model were trained on 10 times as many GPUs as their predecessors trained on. Demand for GPUs is being driven by large hyperscale (companies with massive data centers) tech companies (such as Microsoft , Alphabet , Amazon, and Meta Platforms ) as well as well-funded AI start-ups like OpenAI and Elon-Musk backed xAI. Currently, these companies are all racing to create the best and most powerful AI models, leading to what Nvidia has called "insane" demand for its newest-generation Blackwell GPUs. However, growth is not expected to stop, with Nvidia's largest customers, by and large, indicating that they plan to spend more on building out data centers to help power their AI ambitions. Nvidia customers such as Meta Platforms and Alphabet have said the biggest risk with AI infrastructure is underinvesting, as they look to capitalize on what they see as a generational opportunity. Oracle , meanwhile, has said it expects strong AI infrastructure growth to continue over the next five to 10 years. A wide moat Nvidia isn't the only company that makes GPUs, but it has been able to create a wide moat in large part due its CUDA software platform. GPUs were originally developed to speed up graphics rendering (hence the name) in applications like video games. However, as Nvidia looked to expand the use case for these chips, it created a free software program that allowed developers to program its chips for other tasks. While it took time, this led to CUDA becoming the standard on which developers learned to program GPUs for various tasks, creating the wide moat it has today. Meanwhile, it was arguably the use of its GPUs in cryptocurrency mining that really helped set the groundwork for Nvidia's current AI success today, as it demonstrated the power of its GPUs in high-performance computing. Nvidia has not sat still following its initial CUDA development and in the years since it has built domain-specific microservices and libraries on top of Cuda, called CUDA X, to better optimize it for AI. Meanwhile, the company has also sped up its development cycle for its GPUs to once a year in order to remain at the forefront of GPU technology. The company's biggest challenge at the moment appears to be coming from custom AI chips, such as those Broadcom helps develop for customers. These are custom chips designed for very specific tasks, and thus they can be more efficient. However, it also takes time to design and manufacture custom chips, and like most custom things, they are more expensive. In a world racing for AI, Nvidia's chips are more accessible and cheaper and have an array of AI-specific microservices and libraries through CUDA X. As such, while custom AI chips will likely continue to take some share, Nvidia still looks like it will remain the king of AI chips for the foreseeable future. Inexpensive valuation The final reason why I think Nvidia is poised for another year of outperformance in 2025 is its valuation. Despite its huge gains over the past two years, the stock only trades a forward price-to-earnings (P/E) ratio of about 30 based on 2025 analyst estimates, and a price/earnings-to-growth ( PEG ) ratio of approximately 0.95. A PEG ratio under 1 is typically viewed as undervalued, but growth stocks will often have PEG ratios well above 1. Data by YCharts. For a company that just saw its revenue grow by 94% year over year last quarter and which is projected to see 50% revenue growth in 2025, that's an attractive valuation. With AI looking to be still in its early innings and the company having a wide moat, the stock looks like a buy heading into 2025.
World number one Luke Humphries continued his bid for back-to-back World Championship titles after easing through to the last 16. While there was high drama in Alexandra Palace on the first day back after the Christmas break, where Damon Heta threw a nine-dart finish, Humphries enjoyed a serene evening. He beat Nick Kenny 4-0 to set up a mouth-watering fourth-round meeting with two-time champion Peter Wright. Kenny was unable to produce the form that saw him beat Raymond van Barneveld in the previous round and Humphries did not need to be anywhere near his best. “It was one of those games I didn’t want to take for granted,” he said. “I expected a tough game and I wasn’t firing, I felt there is so much more to give, I felt there was more to come out of me. “I didn’t want to give anyone an inch because they can take a mile. “I’m not going to give up this world title without a fight, I wasn’t at my best but when someone pushes me I know I can come up with the goods.” Earlier in the day Heta set the tournament alight on its resumption with a stunning nine-dart finish before bowing out. The Australian , seeded ninth, achieved darting perfection in the second set of his match with Luke Woodhouse to earn a cool £60,000 payday. However, his joy was short-lived as Woodhouse won a thrilling battle 4-3, having trailed 3-1. Heta was millimetres away from throwing a nine-darter in the previous round when he missed the double 12, but he made no mistake this time in the first match after the Christmas break. Heta’s feat was the second time a nine-darter has been thrown in the 2025 tournament and the 16th of all time at the World Championship, following Christian Kist’s effort before Christmas. As well as landing the Australian a hefty payday, it also saw a lucky fan in Ally Pally win a £60,000, with £60,000 also being donated to Prostate Cancer UK. There were several other titanic battles, none better than Gerwyn Price’s sudden-death leg victory over Joe Cullen. Price looked like he was going to have an easy night when he coasted into a 3-0 lead, but Cullen hit back to send it to a decider, which went all the way. Cullen landed a ‘Big Fish’ 170 checkout to send the tie to a sudden-death leg on his throw but Price hit some big numbers to steal victory. “That was tough, I just wanted to get over the winning line,” he said during his on-stage interview. “He kept coming back, the crowd were way behind him. “I thought I was going to lose, but I kept in there right to the end and got the win. “He played some good darts at the right times. I put myself in that position, I got myself out of it and I’m still in.” Seventh seed Jonny Clayton also battled to victory after squandering a 3-0 lead against Daryl Gurney. Gurney then had six darts to send the decider to a tiebreaker but lost his nerve and Clayton stole a 4-3 win. Stephen Bunting and Peter Wright, who was suffering from a chest infection, enjoyed much more safe passages with routine wins over Madars Razma and Jermaine Wattimena respectively.Biden signs defense bill despite objections to ban on transgender health care for military childrenThe government has promoted Deputy Inspectors General (DIGs) of Nepal Police, Durga Singh and Bharat Bahadur Bohara, to the rank of Additional Inspectors General (AIG). Singh will oversee the Human Resources Development Department, while Bohara will lead the Province Coordination Department at Police Headquarters, Kathmandu. Minister for Communications and Information Technology, Prithvi Subba Gurung, disclosed the decisions during a press briefing. The Cabinet also resolved to designate Nepal Rastra Bank as the regulatory body for loans related to public vehicle purchases and the Social Security Fund, the Transport Management Department for business vehicle acquisitions, and the Securities Board of Nepal for investment companies. Additionally, the agreement between Nepal and India governing passenger traffic has been extended until November 24 next year, along with the protocol provisions. The Cabinet approved the use of national forest land in various districts, including Sankhuwasabha, Udayapur, Dolakha, Dailekh, Kalikot, and Jumla, for constructing transmission line towers. In another decision, the government amended regulations concerning pedestrian trails within Shivapuri National Park. The Mulkharka to Chisapani trail, via Jhule, will be extended by 3.5 kilometers. The revised implementation details of the Office of the Prime Minister and Council of Ministers (OPMCM) were endorsed. The government also decided to table the Nepal Aviation Service Authority Bill, 2081 in the federal parliament and approved the upgrade of Pokhariya Hospital, Parsa, to a 50-bed facility under Madhes Province Hospital. Furthermore, the Cabinet granted permission to table amendments to the Civil Aviation Authority of Nepal Act, 2081 and authorized the Ministry of Education, Science and Technology to present the sixth annual report of the Medical Education Commission before the Federal Parliament's Education, Health, and Information Technology Committee. The study report on securities market operations will be forwarded to the Ministry of Finance for further action. Land acquisition approvals were also granted, including: Kalaiya Sub-Metropolis, Bara: Four dhurs of land; Budhanilkantha Municipality, Kathmandu: Over four ropanis; Barpak Sulikot Rural Municipality, Gorkha: More than four ropanis; Punarbas Municipality, Kanchanpur: 15 katthas; Ekdara Rural Municipality, Mahottari: Over 11 katthas. These decisions aim to facilitate infrastructure development, governance, and regulatory oversight across various sectors.
Mama Meals Provides Over $7,400 Worth of Postpartum Meals to New Moms in North CarolinaThe heartfelt present Kate Middleton gave the Queen for her FIRST Christmas at Sandringham - and it was inspired by her own grandmother By ALESIA FIDDLER Published: 11:37, 22 December 2024 | Updated: 11:50, 22 December 2024 e-mail View comments What does one buy the Queen for Christmas ? That is is exactly the question Kate faced on her first festive visit. The Princess of Wales spent Christmas at Sandringham with Prince William and his family for the first time in 2011 - after getting married eight months before. Every year the royals gather at the Norfolk residence to celebrate the festive period and attend a service at St Mary Magdalene Church. Like many newlyweds, Kate had the challenge of choosing gifts for her new in-laws, including the late Queen Elizabeth II. The princess settled on a thoughtful present inspired by her own grandparents. Speaking on an ITV documentary to mark the late Queen's 90th birthday in 2016, Kate revealed her homemade offering. The princess said: 'I can remember being at Sandringham, for the first time, at Christmas. And I was worried what to give the Queen as her Christmas present. I was thinking, "Gosh, what should I give her?"' Kate and the late Queen Elizabeth II smiling during a visit to Nottingham in 2012 Kate leaving St Mary Magdalene Church with Camilla during Christmas at Sandringham in 2011 William and his wife on Christmas Day back in 2011. The couple had married in April that year Kate decided to use her grandmother's chutney recipe and make the Queen a homemade jar. She continued: 'I thought, "I'll make her something", Which could have gone horribly wrong. But I decided to make my granny's recipe of chutney.' The late monarch seemed to appreciate the gift, as Kate revealed how the next day it was on the dining table. Kate added: 'I was slightly worried about it, but I noticed the next day that it was on the table. 'I think such a simple gesture went such a long way for me and I've noticed since she's done that on lots of occasions and I think it just shows her thoughtfulness, really, and her care in looking after everybody.' Kate's first Christmas at Sandringham was a special occasion. The Daily Mail reported at the time how her attendance to the traditional service in Sandringham helped to attract a record 3,000 well-wishers. One fan, Alison Croose, who waited outside to catch a glimpse of the princess, said: 'I have not seen crowds like this since back into the Diana days. 'It reminded me of the Diana years – when she introduced Prince William to the crowds when he was about seven or eight. It was touching. Diana used to have her hand on his back. 'Now you see William with his hand on Kate's back. It was really nice.' Kate decided to use her grandmother's chutney recipe and make the Queen a homemade jar (stock Image) Harry and Kate together on Christmas Day in 2011 The Royal Family attending a Christmas church service in Sandringham in 2017 Given the Royal Family's heritage, Kate may have participated in their German festive tradition of opening gifts on Christmas Eve, too. The presents are often small and light-hearted offerings rather than flamboyant and expensive. Each gift is labelled and laid out on a table. Prince Harry recalled a Christmas Eve in his book, Spare, and described how, 'By custom, at the start of the night, each of us located our place, stood before our mound of presents.' Queen Elizabeth went on to develop a close relationship with Kate . The Daily Mail's editor-at-large Richard Kay revealed how the pair shared a special 'grandmotherly bond'. Mr Kay said i n Channel 5's, Kate & The Queen: A Special Relationship programme : 'The queen grew to trust Kate. I don't think she really trusted anyone on first impression, we're all performing the same show, the show is supporting the Queen. 'But with Kate and the Queen it grew deeper than that, there was a real grandmotherly affection between the two'. However, 2011 wasn't the first time Kate was invited to spend Christmas at Sandringham. The Mail on Sunday reported back in 2006 how she had received an invitation but declined and spent the festive period in Scotland with her family instead. Kate's friends said at the time that she only intended to join the royal Christmas gathering after marrying William. The year before, Kate spent Boxing Day with the Royal Family. She stayed in a quiet cottage on Wolferton Marshes with William at the royal estate. Queen Elizabeth II and Kate attending the annual summer exhibition at Buckingham Palace in July 2011 Kate and the late Queen viewing the princess's display at the Chelsea Flower Show in 2019 The late Queen and Kate during a visit to King's College London in 2019 Former royal chef, Darren McGrady, previously told the Daily Mirror how Sandringham is more of a 'home from home' compared to other royal residences for the family. He explained: 'Unlike Windsor Castle and Buckingham Palace, which belongs to the State, Sandringham is owned by the royals so it's a real home from home, and somewhere to really relax.' The late Queen usually stayed from December to February, until after the anniversary of her father's death on February 6. Last year, King Charles stayed over the festive period before relocating to Balmoral in January. 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WASHINGTON (AP) — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.Needham initiates coverage on On Holding with buy rating
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What to Do If You Haven't Received Your Tax RefundAmtrak trains between New York and Philadelphia were temporarily suspended for hours Sunday morning due to downed overhead wires blocking the tracks. The delays and cancellations come just days before the Christmas, Hanukkah and Kwanzaa holidays on Amtrak's busiest train route. Amtrak temporarily suspended all train service between New York and Philadelphia Sunday morning due to downed overhead power wires that were blocking the tracks. > 24/7 San Diego news stream: Watch NBC 7 free wherever you are The delays and cancellations come at one of the busiest travel periods of the year, just days before the Christmas, Hanukkah and Kwanzaa holidays and as the region faces freezing temperatures. The travel suspension first occurred around 7 a.m. ET, with estimates of resumption only around noon. As of 1:30 p.m., Amtrak said they had restored two of the four tracks for service through the impacted route, with trains running at reduced speeds and delays averaging an hour. At least three trains were canceled, according to Amtrak's X updates . The Northeast Corridor is Amtrak's most-traveled route, spanning a trail of major East Coast cities from Boston to Washington, D.C. "We are doing our best to move trains in time table order in hopes of minimizing delays," Amtrak said in a statement . Money Report Donald Trump says Vladimir Putin wants a meeting as soon as possible about the war with Ukraine What Google's quantum computing breakthrough Willow means for the future of bitcoin and other cryptos Amtrak will waive additional charges for customers who change their reservation, and most customers were accommodated on other trains, according to a spokesperson. The downed wires also impacted some NJ Transit trains, according to an alert . The region is also facing the coldest temperatures for this time of year in two years, according to the National Weather Service . Also on CNBC What a government shutdown could mean for air travel From Nike to Intel, CEO departures at U.S. companies hit a record this year Tesla reverses losses to turn higher in a volatile week for the EV stock
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By BASSEM MROUE and ZEINA KARAM BEIRUT (AP) — Syrian Prime Minister Mohammed Ghazi Jalali said early Sunday that the government is ready to “extend its hand” to the opposition and hand over its functions to a transitional government. “I am in my house and I have not left, and this is because of my belonging to this country,” Jalili said in a video statement. He said he would go to his office to continue work in the morning and called on Syrian citizens not to deface public property. He did not address reports that President Bashar Assad had left the country. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. BEIRUT (AP) — The head of a Syrian opposition war monitor said early Sunday that President Bashar Assad left the country for an undisclosed location, fleeing ahead of insurgents who said they had entered Damascus after a stunning advance across the country. The events suggested that the end of Assad’s regime could be imminent after his bloody 14-year struggle to hold onto control as his country fragmented. Rami Abdurrahman of the Syrian Observatory for Human Rights told The Associated Press that Assad took a flight Sunday from Damascus. State television in Iran, Assad’s main backer in the years of war in Syria, reported that Assad had left the capital. It cited Qatar’s Al Jazeera news network for the information and did not elaborate. There was no immediate statement from the Syrian government. An Associated Press journalist in Damascus reported seeing groups of armed residents along the road in the outskirts of the capital and hearing sounds of gunshots. The city’s main police headquarters appeared to be abandoned, its door left ajar with no officers outside. Another AP journalist shot footage of an abandoned army checkpoint where uniforms were discarded on the ground under a poster of Assad’s face. Residents of the capital reported hearing gunfire and explosions. Footage broadcast on opposition-linked media showed a tank in one of the capital’s central squares while a small group of people gathered in celebration. Calls of “God is great” rang out from mosques. It was the first time opposition forces had reached Damascus since 2018, when Syrian troops recaptured areas on the outskirts of the capital following a yearslong siege. The pro-government Sham FM radio reported that the Damascus airport had been evacuated and all flights halted. The insurgents also announced they had entered the notorious Saydnaya military prison north of the capital and “liberated” their prisoners there. The night before, opposition forces took the central city of Homs, Syria’s third largest, as government forces abandoned it. The city stands at an important intersection between Damascus, the capital, and Syria’s coastal provinces of Latakia and Tartus — the Syrian leader’s base of support and home to a Russian strategic naval base. The government denied rumors that Assad had fled the country. Sham FM reported that government forces took positions outside Homs without elaborating. Rami Abdurrahman who heads the Britain-based Syrian Observatory for Human Rights, said Syrian troops and members of different security agencies withdrew from the city, adding that rebels entered parts of it. The insurgency announced later Saturday that it had taken over Homs. The rebels had already seized the cities of Aleppo and Hama , as well as large parts of the south, in a lightning offensive that began Nov. 27. Analysts said rebel control of Homs would be a game-changer. The rebels’ moves into Damascus came after the Syrian army withdrew from much of southern part of the country, leaving more areas, including several provincial capitals, under the control of opposition fighters. The fall of Damascus would leave government forces in control of only two of 14 provincial capitals: Latakia and Tartus. The advances in the past week were by far the largest in recent years by opposition factions, led by a group that has its origins in al-Qaida and is considered a terrorist organization by the U.S. and the United Nations. In their push to overthrow Assad’s government, the insurgents, led by the Hayat Tahrir al-Sham group, or HTS, have met little resistance from the Syrian army. The rapid rebel gains, coupled with the lack of support from Assad’s erstwhile allies, posed the most serious threat to his rule since the start of the war. The U.N.’s special envoy for Syria, Geir Pedersen, called Saturday for urgent talks in Geneva to ensure an “orderly political transition.” Speaking to reporters at the annual Doha Forum in Qatar, he said the situation in Syria was changing by the minute. Russian Foreign Minister Sergey Lavrov, whose country is Assad’s chief international backer, said he feels “sorry for the Syrian people.” In Damascus, people rushed to stock up on supplies. Thousands went to Syria’s border with Lebanon, trying to leave the country. Lebanese border officials closed the main Masnaa border crossing late Saturday, leaving many stuck waiting. Many shops in the capital were shuttered, a resident told The Associated Press, and those still open ran out of staples such as sugar. Some were selling items at three times the normal price. The U.N. said it was moving noncritical staff outside the country as a precaution. Assad’s status Syria’s state media denied social media rumors that Assad left the country, saying he was performing his duties in Damascus. He has had little, if any, help from his allies. Russia is busy with its war in Ukraine . Lebanon’s Hezbollah, which at one point sent thousands of fighters to shore up Assad’s forces, has been weakened by a yearlong conflict with Israel. Iran has seen its proxies across the region degraded by regular Israeli airstrikes. U.S. President-elect Donald Trump on Saturday posted on social media that the United States should avoid engaging militarily in Syria . Separately, President Joe Biden’s national security adviser said the Biden administration had no intention of intervening there. Pedersen said a date for talks in Geneva on the implementation of a U.N. resolution, adopted in 2015 and calling for a Syrian-led political process, would be announced later. The resolution calls for the establishment of a transitional governing body, followed by the drafting of a new constitution and ending with U.N.-supervised elections. Later Saturday, foreign ministers and senior diplomats from eight key countries, including Saudi Arabia, Russia, Egypt, Turkey and Iran, along with Pederson, gathered on the sidelines of the Doha Summit to discuss the situation in Syria. In a statement, the participants affirmed their support for a political solution to the Syrian crisis “that would lead to the end of military activity and protect civilians.” They also agreed on the importance of strengthening international efforts to increase aid to the Syrian people. The insurgents’ march Rami Abdurrahman, who heads the Britain-based Syrian Observatory for Human Rights, an opposition war monitor, said insurgents were in the Damascus suburbs of Maadamiyah, Jaramana and Daraya. Opposition fighters were marching toward the Damascus suburb of Harasta, he added. A commander with the insurgents, Hassan Abdul-Ghani, posted on the Telegram messaging app that opposition forces had begun the “final stage” of their offensive by encircling Damascus. HTS controls much of northwest Syria and in 2017 set up a “salvation government” to run day-to-day affairs in the region. In recent years, HTS leader Abu Mohammed al-Golani has sought to remake the group’s image, cutting ties with al-Qaida, ditching hard-line officials and vowing to embrace pluralism and religious tolerance. The shock offensive began Nov. 27, during which gunmen captured the northern city of Aleppo, Syria’s largest, and the central city of Hama , the country’s fourth-largest city. Opposition activists said Saturday that a day earlier, insurgents entered Palmyra, which is home to invaluable archaeological sites had been in government hands since being taken from the Islamic State group in 2017. To the south, Syrian troops left much of the province of Quneitra, including the main Baath City, activists said. Syrian Observatory said government troops have withdrawn from much of the two southern provinces. The Syrian army said in a statement that it carried out redeployment and repositioning in Sweida and Daraa after its checkpoints came under attack by “terrorists.” The army said it was setting up a “strong and coherent defensive and security belt in the area,” apparently to defend Damascus from the south. The Syrian government has referred to opposition gunmen as terrorists since conflict broke out in March 2011. Diplomacy in Doha The foreign ministers of Iran, Russia and Turkey, meeting in Qatar, called for an end to the hostilities. Turkey is a main backer of the rebels. Qatar’s top diplomat, Sheikh Mohammed bin Abdulrahman Al Thani, criticized Assad for failing to take advantage of the lull in fighting in recent years to address the country’s underlying problems. “Assad didn’t seize this opportunity to start engaging and restoring his relationship with his people,” he said. Sheikh Mohammed said he was surprised by how quickly the rebels have advanced and said there is a real threat to Syria’s “territorial integrity.” He said the war could “damage and destroy what is left if there is no sense of urgency” to start a political process. ____ Karam reported from London. Associated Press writers Albert Aji in Damascus, Syria; Abby Sewell in Beirut; Qassim Abdul-Zahra in Baghdad; Josef Federman and Victoria Eastwood in Doha, Qatar; and Ellen Knickmeyer in Washington contributed to this report.
Something unusual happened when a journalist in New York called a toll-free 1-800 number last week. The reason for the call wasn't to reach a particular product helpline, but because she wanted to find out about something entirely new. Sitting at her desk, perhaps somewhat anxious, she typed out the number on her phone - 1-800-242-8478. After an initial disclaimer, the phone rang. A woman promptly answered the phone. The conversation began with a cheerful 'Hi!', and what happened next, left her fascinated. The woman who answered the phone seemed to be able to talk about absolutely anything - from giving the recipe for chocolate-chip cookies to an insightful account of the American Civil War. 1-800-242-8478 was indeed 1-800-ChatGPT. WILL IT BE A GAME CHANGER? Ten days ago, OpenAI, the creators of ChatGPT, introduced a voice service in the United States, especially for those who do not have the App or aren't tech-savvy. The tech firm believes this could help them get the answers they need over a regular phone call - speaking with someone who sounds like a pleasant and helpful 'human being', except, she's an AI chatbot. There are a few limitation though - while the number in itself is toll-free, the service is free only for 15 minutes per number, per month, and is currently available only in the US. For the rest of the world, OpenAI said it has launched a text service directly on WhatsApp. The number is the same - 1-800-ChatGPT. OpenAI's chief product officer Kevin Weil said that these new features were a project that the team worked up only in the last few weeks. The company believes that these two new features are very important to expand the reach of AI and introduce it to even those without access to high-speed internet. Interestingly though, OpenAI isn't the first company to introduce a voice feature over a phone call. Google had done something similar 17 years ago. Google's GOOG-411 or 'voice local search' feature was launched back in 2007. It provided a speech-recognition-based business directory search. However, it was mysteriously shut down in 2010 and Google never declared why. THE CONCERNS Though solutions being just a call away makes life simpler, many have raised valid concerns. 'Will my calls be recorded?', 'Will my voice and speech be used as a sample to train AI?', 'Can my voice be replicated in case of a data leak?', 'Can such technology manipulate human emotions?', 'Can people get emotionally attached to AI?', 'Will it lead to people seeking companionship with an AI?', 'Will people get too dependent on a human-sounding chatbot?', 'What impact will it have on those who are lonely?' - Several such though-provoking questions were asked by users online. According to a CNN report, when it questioned whether users agree for OpenAI to record or store their voice while using the feature, OpenAI told them to refer to a copy of their 'privacy policy' and 'Terms of Use' manual. "Before users begin speaking to ChatGPT over the phone, they must agree to OpenAI's Terms of Use and privacy policy by clicking on a button to 'proceed' with the call" they were informed. A disclaimer is also read out to all users informing them that OpenAI may "review the data for safety purposes". FROM NON-PROFIT TO FOR-PROFIT On Friday, OpenAI officially declared plans to lay out an entirely new corporate structure - one that will likely end its control by a non-profit. OpenAI was founded as a non-profit organisation in 2015. It later switched to a "capped" for-profit enterprise, which allowed the tech firm a limited level of money making. Now it says that the ceiling limit will be removed. In a blog post, OpenAI said it plans to restructure as a 'for-profit PBC' or Public Benefit Corporation. This would "requires the company to balance shareholder interests, stakeholder interests, and a public benefit interest in its decision making." "It will enable us to raise the necessary capital with conventional terms like others in this space," OpenAI added. However, OpenAI's restructuring efforts will likely face obstacles, with Elon Musk reportedly asking a US court to stop OpenAI from converting into a for-profit enterprise.
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( ), a titan in the automotive parts industry, has seen a mix of ups and downs lately, but its story is far from over. As of writing, the stock is hovering around $62.64, a modest gain of 0.43% on the day, though still down significantly from its 52-week high of $79.98 set earlier this year. This puts Magna stock at an interesting crossroads. So, what can investors expect? Recent performance Magna stock has been weighed down by broader market uncertainty and industry challenges. Yet, it remains a giant with all the tools needed to stage a strong comeback. In its third-quarter earnings, Magna stock announced sales of $10.3 billion, a 4% year-over-year decline that admittedly raised some eyebrows. The company’s adjusted earnings per share of $1.28 fell short of analyst expectations of $1.40, and Magna lowered its full-year sales guidance slightly, now expecting revenue between $42.2 billion and $43.2 billion. The tempered outlook reflects ongoing headwinds like slowing vehicle production in certain markets and higher input costs. Yet, beneath the surface, Magna’s resilience shines through. Historically, Magna stock has been a powerhouse. Over the past five years, it remained a fixture on the Fortune Global 500 list, an accolade that speaks volumes about its global scale and influence. As one of the largest automotive suppliers in the world, Magna stock has its hands in nearly every corner of the car manufacturing process. From body exteriors to advanced driver-assistance systems. The company’s partnerships with major automakers solidified its position as an industry linchpin. Yes, the stock has struggled in recent months. Yet Magna stock has weathered storms before, and its track record suggests it knows how to navigate challenging terrain. What to watch Looking ahead, the future holds significant promise for Magna stock. The automotive industry is in the middle of a revolution driven by , advanced driver-assistance systems, and autonomous driving technologies. Magna stock has been investing heavily in cutting-edge technology, positioning itself as a leader in the future of mobility. Recent moves, like its acquisition of Veoneer’s Active Safety division, underscore this commitment. By strengthening its portfolio in safety and autonomous technologies, Magna stock aligns itself with where the industry is headed, not where it’s been. Financially, Magna stock is a fortress. With a market capitalization of around $17.9 billion at writing and a trailing price-to-earnings ratio of 11.69, the stock looks relatively undervalued compared to broader market benchmarks. What makes Magna stock particularly attractive to investors, though, is its dividend. The company currently offers a forward annual dividend yield of 4.27% at writing. This is not only generous but also sustainable, with a payout ratio hovering around 50%. For income-focused investors, Magna’s combination of reliable dividends and long-term potential makes it a particularly enticing option. While short-term volatility might scare some off, those with a long-term perspective can appreciate Magna stock’s solid financial footing. Plus, it has the ability to generate consistent cash flow even during challenging periods. Bottom line While recent earnings hiccups might cause some investors to feel hesitant, it’s important to view Magna stock in the context of the broader market and industry trends. The automotive sector as a whole has faced headwinds, including supply chain disruptions and rising costs. Yet those challenges are temporary. The underlying demand for vehicles, particularly electric and connected cars, is only growing. Magna stock’s ability to innovate and adapt puts it in a prime position to benefit from this demand as automakers increasingly rely on its expertise and technology. The next few years could see Magna emerge as an even bigger player in the global automotive supply chain. Ultimately, Magna International represents a blend of stability and future growth. Magna stock is an attractive pick for investors looking to ride the wave of automotive innovation while securing reliable income through dividends. Yes, the stock has had a rough patch, but its long-term prospects remain as strong as ever. In a world where the automotive industry is reinventing itself, Magna stock isn’t just keeping up. It’s leading the way. If you’re looking for a company with solid fundamentals, innovative leadership, and a clear vision for the future, buying Magna stock might just be the easiest decision you’ll make this year.
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