Former US President Jimmy Carter has died, aged 100
WASHINGTON (Reuters) - Cuts in funding for the Internal Revenue Service, long eyed by Republicans in Congress, would increase the federal deficit by $140 billion over a decade, slow service and reduce complex audits of big companies, Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo told reporters that the IRS faced a $20 billion drop in funding over the next decade unless Congress acted as part of its next government funding measure to address a budgetary anomaly included in the September continuing resolution. The IRS would have to slow its modernization drive and reduce enforcement while call wait times would surge unless Congress fixed the budget issue, he said. And the challenges would get worse if Republicans made good on their vow to target IRS funding. Cutting IRS funding would mean the end or a big slowdown in enforcement initiatives targeting wealthy individuals, large corporations or complex partnerships, he said, citing two initiatives that have recovered $1.3 billion so far. Less funds for technology, artificial intelligence and machine learning would limit big-ticket enforcement efforts, while audits of middle-class taxpayers would likely increase because they were easier to carry out with less technology. U.S. President-elect Donald Trump previously backed efforts to replace 1960s-era IRS equipment, and the current strategic plan largely mirrored one drafted by his previous IRS commissioner, Adeyemo said. But Trump vowed during this campaign to rescind all unspent funds from the Inflation Reduction Act, including billions of dollars earmarked for increased enforcement by the IRS. He said IRS enforcement funds would run out sometime in fiscal year 2025, and funds for improving services would run out the following year, unless the funding was restored. (Reporting by Andrea Shalal; Editing by Mark Porter)Wall Street's Year-End Rollercoaster: A Liquidity Lesson
Former US President Jimmy Carter has died, aged 100
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Penn State seeks to stay perfect, takes on Fordham( MENAFN - GetNews) Phoenix, AZ - A deck serves as a great addition to any property, and it provides homeowners and their guests with places to spend time, socialize, and enjoy each other's company. However, a dirty deck can be a cause of frustration rather than satisfaction. Not only can an unwashed deck prove to be visually unappealing, but it can suffer damage as a result of its condition, too. Fortunately, with deck pressure washing, property owners can restore these structures and avoid the risk of deterioration. Happy Guy Power Wash outlines the benefits of deck cleaning below. The Value of Deck Maintenance All exterior services build up dirt and debris over time. This is a natural consequence of being outdoors, and it cannot be avoided completely even with the use of screens or fences. Because of this, it is prudent to pressure wash a deck on an annual basis. This will quickly improve the appearance of the deck, as when dirt and debris are removed, the true vibrant colors of the deck will be able to shine. Furthermore, annual deck cleaning helps decks last longer, too. For example, consider a deck that is covered with moss. As this rapidly reproducing growth spreads across the deck, its roots will dig into the deck's boards, exacerbating moisture-related damage. Even dirt and mud can aid in the erosion of the deck, giving Phoenix property owners yet another reason to consider deck pressure washing. Advanced Deck Cleaning Techniques When property owners schedule an appointment with a professional deck cleaning company-such as Happy Guy Power Wash-they will enjoy the benefits of various advanced deck cleaning techniques. For example, Happy Guy Power Washing uses a versatile pressure washing pump with adjustable water pressure settings. This allows the company to provide the best possible clean regardless of the material the deck is made of. To illustrate this point further, wooden decks cannot withstand as much water pressure as concrete decks. A professional company like Happy Guy Power Washing can simply turn a dial to accommodate factors such as this. Another advanced technique the company uses is chemical treatment. When stains seemingly refuse to wash away, and organic debris such as moss puts up a fight, specialized treatment chemicals can be used to resolve the problem. Substances like zinc powders are effective at killing moss, for instance. Chemical treatment is a safe process that does not harm the deck or the environment. Other Structures Happy Guy Power Wash Cleans The principles that are used during deck cleaning projects are easily applied to similar structures. In particular, a wooden front porch is not all that different from a wooden deck; because of this, they can both be cleaned using pressurized water and treatment chemicals. Continuing this trend are gazebos, pergolas, canopies, patio covers, and other outdoor structures. Happy Guy Power Wash is always happy to clean any of these for a reasonable price based on the overall size of the structure. About Happy Guy Power Wash Happy Guy Power Washing was founded by a Phoenix, AZ local with the main objective of keeping the community a clean and beautiful place. With a fully trained team and a sense of pride in securing customer satisfaction, the company tackles residential and commercial pressure washing projects, ensuring no surface debris is left behind. For more information about Happy Guy Power Washing, visit their website or call (480) 717-1388. MENAFN27122024003238003268ID1109036015 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.HJ Shipbuilding & Construction Develops 88,000m3 Eco-Friendly Ammonia Carrier
10 tips from experts to help you change your relationship with money in 2025My dear 2024, Letter writing may be a lost art in this digital age, yet there are moments when the weight of reflection demands the intimacy of a letter. So, dear 2024, consider this a heartfelt note from a Nigerian seeking to encapsulate the whirlwind of emotions, events, and transformations that have unfolded over the past twelve months. As I pen down these words, I do so with the awareness that you are not an ordinary year. Your arrival brought hope, but as the days rolled, that hope was replaced with hardship, struggle, perseverance and lessons. In this letter, as tricky as it may be, I will attempt to recount the key events that shaped you – the milestones that defined not only my life but the collective experience of a nation grappling with economic hardship, political uncertainty, and social upheaval. Nigeria stands at a crossroads, and you will be remembered as a year that tested our spirit and resolve. This is not just a recollection of facts but a narrative of survival in a land where, at times, the future seemed uncertain. You were, indeed harsh, but we, the Nigerian people, have shown remarkable resilience and perseverance. Despite the economic hardships you brought, with inflation, unemployment, and rising living costs affecting all, we have stood strong. Your visitation of economic hardships worsened by 34-40% inflation rate and supply chain disruptions, an embarrassing unemployment rate of 40%, and rising living costs affected both the high and the low. Almost all households felt your pinch. Nigeria›s food inflation rate rose to close to 40% by mid-year, pushing millions into poverty. National Bureau of Statistics reports indicated that over 71 million Nigerians faced food insecurity by the third quarter. The exchange rate rose by over 60%. Yet, amid these challenges, the Nigerian people showed remarkable resilience and perseverance. To put it into context, essential commodities such as rice, maize, and garri doubled in price within months. The petrol price fluctuated between ₦700 to ₦1200 per litre, severely impacting transportation and logistics. Even sachet water, popularly called ‹pure water›, became a luxury for many, reflecting the depth of economic strain. You made our economic thinkers and planners look clueless. Thank God we, the people, showed understanding with them. You brought needless political contentions –the Rivers crisis, contentious elections in Edo and Ondo states, the Kano Emir drama, the Old-New-Old national anthem, and “Endbadgovernance”demonstrations. An attempt to reform our tax system highlighted our stubborn ethnic fault lines. You were not short of drama, both relevant and irrelevant. The reinstatement of the old national anthem left citizens divided, as critics viewed it as distracting from pressing governance issues. However, amid these contentions, the Nigerian people stood united, showing remarkable solidarity. Despite the divisive nature of some of these events, we have remained a united front. Poverty and hunger became our companions, resulting in three deadly stampedes during palliative distributions in Oyo, Anambra, and the Federal Capital Territory (FCT), leaving no fewer than 60 people dead. Unemployment among the youth reached over 45%, with many university graduates resorting to menial jobs or leaving the country in search of greener pastures, contributing to the ongoing ‹Japa› wave. At the global scene, you delivered historic elections and global unrest. People in more than 60 countries— representing almost 50 per cent of the world’s population—went to the polls during the year. Voters in Mexico and the United Kingdom picked new leaders, while a former U.S. president was invited by voters back to the White House. In Nigeria, voter turnout in local elections dipped to a record low of 28%, reflecting growing disillusionment with governance. This disinterest was amplified by widespread insecurity, with over 1,500 reported cases of abduction and banditry disrupting daily life. Villages in Zamfara, Kaduna, and Borno faced relentless attacks, forcing thousands into internally displaced persons (IDP) camps. “Lakurawa” gained a strong foothold in parts of North-West states. Some strange things happened that we did not foresee. Greece extended adoption rights to same-sex couples, and Thailand legalised same-sex marriage, becoming the first country in Southeast Asia to do so. You gave LGBTQ+ rights activists something to celebrate. This felt strange in this part of the world, where same-sex relations remain criminalised, and social acceptance lags far behind. In Nigeria, lawmakers intensified efforts to uphold conservative values, with proposed bills aimed at further restricting LGBTQ+ rights. The disparity in cultural values highlighted the widening gap between regions of the world, reflecting the complex layers of societal evolution. You saw the world in turmoil, and the Russian vs Ukraine war continued unabated. This war brought about lots of military posturing, leading some to fear nuclear conflict between Russia and NATO. The conflict between Israel, Hamas, and Iran ramped up to greater heights. The Middle East is in commotion, with the war extending to Lebanon and Israel vowing not to stop until it wipes Hamas and Hezbollah out. Iran has shown its willingness to confront Israel, framing itself as the watchdog of the Middle East against Israel’s aggression. You also witnessed the collapse of the Assad regime in Syria, raising fears of extremist groups seizing power. Reports from the UN suggested that over 300,000 Syrian refugees fled to neighbouring countries by year-end, adding to the growing refugee crisis. But amid it all, you allowed some of my compatriots to think and look at things differently, to learn that hard work does not kill and bad governance is for a season. Despite the odds, small businesses grew by 7% in sectors like agriculture and technology, offering a glimmer of hope. Despite the increase in tariffs and persistent collapse of the national grid, there has been a marginal improvement in power output in homes and factories. The healthcare sector witnessed significant transformation in the past few months of 2024 because of incisive, superlative reforms and programmes. So far, 53,000 health workers have been re-trained—an impressive number—to deliver integrated, high-quality services. The Maternal and Newborn Mortality Reduction Initiative, which offers free caesarean sections to all eligible Nigerian women meeting the criteria, and the Nigeria Climate Change and Health Vulnerability and Adaptation (V&A) Assessment Report were launched. These initiatives represent a step forward in our healthcare system, offering hope for the future. Your successor, 2025, is shaping up to be quite the mixed bag — it’s like the year is expecting a baby, but no one knows if it’ll be a bundle of joy or a handful of trouble. Nigeria is trying really hard to stop putting all its eggs in the oil basket. There’s a lot of noise about agriculture, tech, and manufacturing stepping up. With this African Continental Free Trade Agreement (AfCFTA) getting more action, we might see Nigeria flexing as West Africa’s trade big brother. But let’s be honest — oil and gas aren’t going anywhere anytime soon. The Dangote Refinery finally kicking into gear might help us cut down on those expensive imported petroleum products. If it plays out right, that could mean fewer trade deficits and more jobs, which we desperately need. But you know how it is with oil — prices are like Lagos traffic, unpredictable and everywhere. Plus, the world’s moving towards greener energy, so we’ve got to figure out how to keep the money flowing long-term. Now, on the money front, I won’t sugarcoat it. Inflation and the exchange rate will probably keep dancing around, and not in a fun way. The Central Bank will try to keep things under control, but they’ll need serious foreign investment and more non-oil exports to make it work. The tech space is looking exciting, though. With all these young, sharp minds and everyone glued to their phones, Lagos and Abuja are becoming mini–Silicon Valley — fintech, e-commerce, aggrotech, you name it. Politically, Nigerians are still out here demanding real change. Anti-corruption will stay a hot topic — we’re all tired of the same old stories. There’s also this growing pressure for electoral reforms and better public services. Civil society is getting louder, and I’m here for it. But security? Whew. That’s going to be a big one. Between insurgency in the Northeast, banditry up North, and secessionist noise in the Southeast, the government has its hands full. It will take more than military action — they must dig into why these issues keep popping up. On top of that, some states are pushing harder for more control over their resources and policies. The whole decentralisation and restructuring debate might heat up. Meanwhile, you can bet politicians are already gearing up for 2027. Alliances will shift — it’s like watching chess, but with higher stakes. Look, Nigeria has its share of problems—inequality, environmental issues, governance struggles. But the potential? It’s huge. We’ve got the people and the energy, and if we can channel it right, the sky’s the limit. Here’s hoping 2025 is more of a blessing than a headache. As I look ahead to 2025, I do so with cautious optimism. While the road ahead remains uncertain, I am reminded that even in the darkest of times, resilience shines through. So, to everything we have passed through, thank you, 2024, for setting us free. 2025, if you’re reading, please be more liberal to us as a nation and as a people. May our leaders listen more and apply more wisdom. May 2025 usher in real hope, stability, and progress for Nigeria and the world. Wishing Nigerians a happy, peaceful, and prosperous new year
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NEW YORK (AP) — With the end of 2024 around the corner, you might be reflecting on financial goals for 2025. Whether you’re of your parents’ house or pay off student loan debt, financial resolutions can help you stay motivated, said Courtney Alev, consumer advocate for Credit Karma. “Entering a new year doesn’t erase all our financial challenges from the prior year,” Alev said. “But it can really help to bring a fresh-start mentality to how you’re managing your finances.” If you’re planning to make financial resolutions for the new year, experts recommend that you start by evaluating the state of your finances in 2024. Then, set specific goals and make sure they’re attainable for your lifestyle. Here are some tips from experts: Change your relationship with money Think about how you currently deal with — what’s good, what’s bad, and what can improve. “Let this be the year you change your relationship with money,” said Ashley Lapato, personal finance educator for YNAB, a budgeting app. If you feel like money is a chore, that there’s shame surrounding the topic of money, or like you were born being “bad at money,” it’s time to change that mentality, Lapato said. To adjust your approach, Lapato recommends viewing money goals as an opportunity to imagine your desired lifestyle in the future. She recommends asking questions like, “What do my 30s look like? What do my 40s look like?” and using money as a means to get there. Liz Young Thomas, head of SoFi Investment Strategy, added that it’s key you forgive yourself for past mistakes in order to move into the new year with motivation. Know your “why” When setting your financial resolutions for 2025, it’s important to establish the “why” of each, said Matt Watson, CEO of Origin, a financial tracking app. “If you can attach the financial goal to a bigger life goal, it’s much more motivating and more likely you’ll continue on that path,” Watson said. Whether you’re saving to buy a house, pay off debt or take a summer vacation, being clear about the goal can keep you motivated. Watson also recommends using a tool to help you keep track of your finances, such as an app, spreadsheet, or website. Budget, budget, budget “After three years of inflation, your pay increases are likely still playing catch up to your monthly expenses, leaving you wondering where all the money is going,” said Greg McBride, chief financial analyst at Bankrate. “Make that monthly budget for 2025 and resolve to track your spending against it throughout the year.” McBride said that you may need to make adjustments during the year as certain expenses increase, which would require cutting back in other areas. “Calibrate your spending with your income, and any month you spend less than budgeted, transfer the difference into your savings account, ideally a high-yield savings account,” he said. Pay down outstanding debt “Interest rates aren’t likely to come down very fast, so you’re still going to have to put in the hard work of paying down debt, especially high-cost credit card debt, and do so with urgency,” McBride said. Start by taking stock of how much debt you have now relative to the beginning of the year. Hopefully you’ve made steady progress on paying it down, but, if you’ve gone in the other direction, McBride encourages making a game plan. That includes looking into 0% balance transfer offers. Take control of your credit card interest rate “You have more power over credit card interest rates than you think you do,” said Matt Schulz, chief credit analyst at LendingTree. “Wielding that power is one of the best moves you can make in 2025.” A 0% balance transfer is “a good weapon” in the fight against high card APRs, or annual percentage rates, he said. A low-interest personal loan is an option as well. You may simply be able to pick up the phone and ask for a lower interest rate. LendingTree found that a majority of people who did that in 2024 were successful, and the average reduction was more than 6 points. Set realistic, practical goals When planning for your financial resolutions, it’s important to consider how you’re going to make your goals sustainable for your lifestyle, said Credit Karma’s Alev. “It really is a marathon, not a sprint,” Alev said. Alev recommends setting realistic, practical goals to make it easier to stick with them. For example, instead of planning to save thousands of dollars by the end of the year, start by saving $20 a paycheck. Even when your plans are achievable, there are times you’ll get derailed. Maybe it’s an unexpected or an extraordinary life event. When these situations happen, Alev recommends trying not to feel defeated and working to get back on track without feeling guilty. Don’t bury your head in the sand “You can’t manage what you can’t see, so set a New Year’s resolution to check your credit score monthly in 2025,” said Rikard Bandebo, chief economist at VantageScore. “Be sure to pay more than the minimum on your credit accounts, as that’s one of the best ways to boost your credit score.” Bandebo also advises student loan borrowers to make all payments on time, as servicers will begin to report late payments starting in January, and missed payments will affect borrowers’ credit scores. Automate savings, where possible Automated changes, like increasing workplace 401(k) plan contributions, setting up direct deposits from paychecks into dedicated savings accounts, and arranging for monthly transfers into an IRA and/or 529 college savings accounts all add up quickly, McBride said. Slow down Your financial goals can encompass more than just managing your money better — they can also be about keeping your money safe from . A golden rule to protect yourself from is to “slow down,” said Johan Gerber, executive vice president of security solutions at Mastercard. “You have to slow down and talk to other people if you’re not sure (whether or not) it’s scam,” said Gerber, who recommends building an accountability system with family to keep yourself and your loved ones secure. Scammers use urgency to make people fall for their tricks, so taking your time to make any financial decision can keep you from losing money. Focus on financial wellness Your don’t always have to be rooted in a — they can also be about well-being. Finances are deeply connected with our mental health, and, to take care of our money, we also need to take care of ourselves. “I think that now more than any other year, your financial wellness should be a resolution,” said Alejandra Rojas, personal finance expert and founder of The Money Mindset Hub, a mentoring platform for women entrepreneurs. “Your mental health with money should be a resolution.” To focus on your financial wellness, you can set one or two goals focusing on your relationship with money. For example, you could find ways to address and resolve financial trauma, or you could set a goal to talk more openly with loved ones about money, Rojas said. —— The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
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With tariffs threats, Donald Trump makes a good point on Canada’s complacencyCongress Working Committee on Friday paid glowing tributes to former prime minister Manmohan Singh , hailing him as "a true statesman, whose life and work have profoundly shaped the destiny of India." ET Year-end Special Reads Two sectors that rose on India's business horizon in 2024 2025 outlook: Is it time for cautious optimism or rekindling animal spirits? 2024: Govt moves ahead with simultaneous polls plan; India holds largest democratic exercise Singh's body will be brought to Congress headquarters at 24, Akbar Road at 8 am on Saturday, AICC announced. This honour was controversially denied to former prime minister PV Narasimha Rao when he died in Delhi during the UPA era in 2004 and whose funeral was conducted in Hyderabad. Singh was a "towering figure in India's political and economic landscape, whose contributions transformed the country and earned him respect worldwide", CWC resolution said. "As the finance minister in the early 1990s, Singh was the architect of India's economic liberalisation . With unmatched foresight, he initiated a series of reforms that not only saved the nation from a balance-of-payments crisis but also opened the doors to global markets. Through his policies of deregulation, privatisation and the encouragement of foreign investment, he laid the foundation for India's rapid economic growth . Under his stewardship, India emerged as one of the world's fastest-growing economies, a testament to his brilliance and vision," said the resolution passed by the top-most Congress body. It further said as the prime minister, Singh led the country with a sense of calm determination and exceptional wisdom. "His tenure was marked by sustained economic growth, global recognition, and social progress. He steered the nation through the challenges of the global financial crisis in 2008 with strategic measures that shielded India from its worst effects. His leadership saw remarkable initiatives like MGNREGA, Right to Education, the historic Indo-US Civil Nuclear Deal , National Food Security Act, Land Acquisition Act... He also championed the Right to Information (RTI) Act to enhance transparency, the Forest Rights Act to empower tribal communities, and contributed to achieving the highest GDP growth rate during his tenure. Singh's dedication to inclusive growth , international diplomacy, and economic modernisation strengthened India's position in the global arena," it said. The resolution also listed Singh's achievements as an academician, economist and in various offices such the UN and RBI, and recollected his personal qualities. "Despite holding the highest offices in the land, he always remained grounded, treating everyone with respect and kindness. His demeanour was calm, composed, and always guided by a deep sense of integrity. He was not only admired for his intellect and accomplishments but also for his unassuming nature," it said. 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