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2025-01-20
Wall Street stocks were little changed on Thursday while Asian equities rose in thin Boxing Day trade, extending their "Santa Claus Rally" with several bourses still shut for the holiday. Japan's Nikkei index closed up 1.1 percent, boosted by comments from the Bank of Japan governor and share price gains for top-selling automaker Toyota. China's plans for massive bond issuances in 2025 also bolstered investor sentiment. "Even though many in the region are still shaking off a bit of a holiday hangover, with several markets closed for Boxing Day, Asian stocks opened higher, riding a favorable wave from China's financial bond juggernaut," said Stephen Innes from SPI Asset Management. In New York, major indices veered in and out of positive territory in a sleepy post-Christmas session. The broad-based S&P 500 finished down less than 0.1 percent. Large technology companies that have led the market in much of 2024 mostly took a breather. These included Netflix, Tesla and Amazon, all of which declined. "What's interesting today is that we're seeing small stocks bounce back a little bit," said Steve Sosnick of Interactive Brokers, noting that the Russell 2000 index put on 0.9 percent. Holiday consumer data showed a 3.8-percent increase in US retail spending from November 1 to December 24, according to a Mastercard SpendingPulse review of a key period for retailers. London Stockton, an analyst at Ned Davis Research, noted that the "Santa Claus rally could still be alive, with strong seasonality into the end of the year." Stock markets have traditionally fared well in the last five trading days of the year and the first two in the new year, a trend known as the "Santa Claus rally." Among a number of possible reasons advanced by experts include the festive holiday mood and purchasing ahead of the end of the tax year. Innes said remarks from Bank of Japan governor Kazuo Ueda in which he refrained from signaling a potential interest rate hike next month also "influenced bullish regional sentiments." Japanese market heavyweight Toyota ended nearly six percent higher after reports in the Nikkei business daily said it aimed to double its return on equity -- a key measure of a company's financial performance. New York - Dow: UP 0.1 percent at 43,325.80 (close) New York - S&P 500: DOWN less than 0.1 percent at 6,037.59 (close) New York - Nasdaq: DOWN 0.1 percent at 20,020.36 (close) Tokyo - Nikkei 225: UP 1.1 percent at 39,568.06 points (close) Hang Seng: UP 1.1 percent at 20,098.29 points (Tuesday close) Shanghai - Composite: UP 0.1 percent at 3,398.08 points (close) Euro/dollar: UP at $1.0424 from $1.0414 on Tuesday Pound/dollar: DOWN at $1.2526 from $1.2538 Dollar/yen: UP at 158.00 yen from 157.06 yen Euro/pound: UP at 83.19 pence from 83.05 pence West Texas Intermediate: DOWN 0.7 percent at $69.62 per barrel Brent North Sea Crude: DOWN 0.4 percent at $73.26 per barrel bur-jmb/ahaChoice Hotels' chief human resources officer sells $1.99m in stockwild casino app download

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The Kaduna State Government has built 62 new secondary schools, comprising 39 junior and 23 senior secondary schools, across the three senatorial districts in the last 18 months since the present administration under Senator Uba Sani took over the mantle of leadership in the state. This was disclosed by the Principal Private Secretary (PPS) to the state governor, Professor Ayuba Bello, during an interactive session with the media at the Nigeria Union of Journalists (NUJ) secretariat on Thursday. He said approval has been given for the construction of an additional 50 secondary schools across the state. These new schools are expected to enrol over 100,000 students upon completion, further solidifying Kaduna State’s commitment to providing inclusive and accessible education for all. Also, 2,000 qualified teachers have been recruited and are awaiting deployment to these newly completed schools. In addition, according to the PPS, the government has constructed 2,326 new classrooms, renovated 707 classrooms, supplied 30,742 two-seater pupil’s furniture, provided 3,704 teachers’ furniture, and constructed 918 VIP cubicle toilets and 51 hand pump boreholes in schools across the state. He also said, “Significantly, the administration is building three vocational and technological skills acquisition cities to equip youths with the requisite skills to enable them to take up jobs in industries and other businesses. The Skills Cities will graduate at least 12,000 youths annually. “In addition, the government is remodelling the Panteka Market in Kaduna to become a major centre for skills acquisition, engaging over 38,000 artisans. “A comprehensive infrastructure upgrade is being carried out to make it an international centre for skills acquisition and job creation. Besides, the Kaduna State Government is collaborating with the National Board for Technical Education (NBTE) to provide Nigerian Skills Qualifications Framework (NSQF) certification for graduates of the Skills Cities and Panteka Market.” On the health sector, Prof. Bello remarked that “Governor Uba Sani is carrying out a surgical operation in the healthcare sector because he wants to deliver a top-notch healthcare system that addresses the needs of the people. “The administration is working day and night to complete the ultra-modern Specialist Hospital at Millennium City, Kaduna. On Wednesday, 27th November 2024, the Governor commissioned the remodelled, upgraded, and fully equipped Dabo Lere Memorial Hospital, Kaduna. “He has embarked on the remodelling, equipping, and upgrading of 13 general hospitals in the three senatorial zones of the state. This includes General Hospital Gwantu, General Hospital Rigasa, and General Hospital Maigana in Sanga, Igabi, and Soba local governments, respectively, as some of the hospitals that have been remodelled, equipped, and upgraded. “Others are Patrick Ibrahim Yakowa, Kafanchan, in Jemaá local government; General Hospital Giwa, in Giwa local government; and Ikara General Hospital, located at Ikara local government. The rest are General Hospital Sabon Tasha, Chikun LGA; General Hospital Saminaka, Lere LGA; and General Hospital Kachia, Kachia LGA.” He also said, “Agriculture is at the centre of Kaduna State’s development agenda. In the last 18 months, Kaduna State has become a beacon of hope for smallholder farmers, an engine of economic growth, and a model of agricultural excellence. “Under the remarkable palliative programme Sustainable Livelihoods through Social Interventions and Economic Empowerment, the Get Back to the Farm initiative has breathed new life into the agricultural sector. “The government has distributed vital inputs—high-quality seeds, fertilisers, agrochemicals, and farming equipment—to 41,693 smallholder farmers and cooperatives across all 23 LGAs. This initiative is a game-changer for our farmers, restoring their livelihoods and driving increased productivity across the state. “Significantly, the Uba Sani administration undertook the largest free fertiliser distribution in Kaduna State’s history, with the distribution of 500 trucks of fertiliser, from which 240,000 bags were given out free to 120,000 smallholder farmers. “The government has also invested heavily in both mechanisation and micro-mechanisation of the agricultural sector. Indeed, the last time the state invested in mechanisation through the procurement of tractors was in 2010, but this government has procured 12 heavy-duty tractors that can handle large-scale commercial farming and complex and difficult farming operations.” READ MORE FROM: NIGERIAN TRIBUNE

Conservative group lists 'woke radical leftists' it wants fired from DOJ under Pam BondiJohn Healey said that the Government’s “interest” in Hayat Tahrir al-Sham (HTS), is “that they live up to their promises to protect” rights, when he spoke to reporters after a Cobra meeting on Thursday. HTS is banned in the UK because of its past association with al Qaida, the terrorist organisation once led by Osama bin Laden. But its leader, Abu Mohammed al-Golani, cut ties with al Qaida years ago and has sought to present his group as a more moderate and inclusive organisation, leading some to suggest the group should no longer be proscribed. When asked whether the Government was considering the status of the group, Mr Healey said: “Proscription is not a matter for now. “It doesn’t stop us talking to all the parties, and our interest in HTS is that they live up to their promises to protect the rights of all individuals and all groups, to respect international law and to prevent Syria becoming a base for a fresh terrorist threat.” Mr Healey said that Thursday’s meeting was “about making sure we have, as a Government, a laser focus on the role that we can play with allies to see a stable, peaceful transition. “So that the Syrians get the government they need for the future, and the region can see the stability in the future that it also needs.” Cobra meetings are called when ministers or officials need to respond to urgent matters. Following the toppling of the Bashar Assad regime over the weekend, the UK has paused decisions on asylum applications from Syria. Thousands of Syrians have been granted asylum in the UK but, earlier this week, the Home Office said decisions on applications would be paused while events unfold in Damascus. When asked how long the system would be paused for, and whether the move was fair, Mr Healey said on Thursday: “This is early days. “It’s a measure in response to rapidly changing developments, and the most important thing for us now is that the UK plays and will continue to play a full role with allies to see a stable, peaceful, orderly transition and that requires a political process. “It requires dialogue at the heart of it, and today’s ministerial meeting, the Cobra meeting, was about making sure that we do just that.” Earlier on Thursday, G7 leaders said that they “stand with the people of Syria” and “denounce terrorism and violent extremism in all its forms”. In a statement, Sir Keir Starmer and his counterparts said: “The G7 will work with and fully support a future Syrian government that abides by those standards and results from that process.” It went on: “After decades of atrocities committed by the Assad regime, we stand with the people of Syria. We denounce terrorism and violent extremism in all its forms. “We are hopeful that anyone seeking a role in governing Syria will demonstrate a commitment to the rights of all Syrians, prevent the collapse of state institutions, work on the recovery and rehabilitation of the country, and ensure the conditions for safe and dignified voluntary return to Syria of all those who were forced to flee the country.”2024 was a chaotic year, as always. Each year does seem to be adding a touch more chaos than the last recently. Strangely enough, it was nothing in the chaotic present that gripped my mind and imagination as much as one weird and brutal incident from the past: the death of filmmaker Pier Paolo Pasolini. The basic situation is this: on November 2 1975, Pasolini was on a beach in Ostia where he was savagely beaten and run over several times by a car. The situation has seen renewed interest as time and technology have allowed it, and as Pasolini's cinematic profile has only grown in the past five decades, culminating in an excellent FT investigation this year that really sought to place all the cards on the table. It is obvious the killer(s) had motive, a specific intent behind murdering one of Italy’s most groundbreaking filmmakers. Who he was is certainly the crux of all this. His homosexuality was a long-pinned motive, hate assumed as the primary driver behind such a vicious murder. His testicles were crushed by a metal bar, an obvious symbol of this kind of motivation. And Italy was certainly no safe haven for those openly gay in 1975. But the full story and context behind his murder are not as cut and dry as a manic bigoted attack. The political dimension of his death has long been underplayed, going almost unconsidered in official investigations. Pasolini was a Marxist in the post-remnants of fascist Italy. He is known as a filmmaker across the world, but at home he was just as likely to be seen as an author, poet, and philosopher, and was widely read at the time as a columnist (back when such things had a significantly wider influence). Read more: Jean-Luc Godard: the 20th century giant that changed film forever Pasolini’s international profile was also rising, with the shock arthouse release of his film Salò, or the 120 Days of Sodom making its way around in the same year of his death. The ‘most shocking’ accolades it receives tend to undervalue the film’s vision of how cruel and soul-eroding the effects of fascism are on its spiritual level. Fascists tend to not like to be seen as what they are, it reveals who they are too much. But there is also a more direct threat, such as in that year when Pasolini accused the leaders of the Christian Democrats of being in the pockets of the Mafia and helping to cover up neofascist bombings during the tumultuous Years of Lead. These are risky things to say out loud. This introduces the central question mainly looming over his death: was this a political assassination? The quest to answer this properly and officially has been long-winded, seen steps of progress and many more roadblocks, been ignored then reignited. It still waits to be answered, with hope that returning to DNA in the present day can tie up any loose knots. It is most assumed outside the legal system that it was indeed a political assassination, that a 17-year-old named Giuseppe Pelosi, along with several others, killed him on behalf of a Mafia cabal with major links to neofascism, that had found some measure of power and influence in Italy’s political system and underworld. This makes the most sense, particularly given the context. Pasolini was a loud thinker, unapologetically. 20th-century Italy had seen communism as the second alternative to the status quo. By 1975, fascists would have again likely pictured communist influence as a threat to their next political ascendency. With links in a political structure and the means to an end accessed through the underworld, they could get rid of him easily and obfuscate what they were trying to do. Read more: ‘This feels like an experiment to see how long I last in the film industry’ But there are holes everywhere in the story. The way Pasolini was murdered did not indicate a one-man job. Others have confessed, only to recant their confessions. And how far does the trail go down considering the scope and breadth of forces likely involved in the murder? It could reveal something about Italy's relationship with power at that time, something that wasn’t quite understood. I’m not looking to solve this myself, it’s way outside my investigative talents, but there is something fascinating in this death. Something particularly haunting, not lifelike. It is cliché to say that the director’s murder scene is not unlike something in his films, an example of art manifesting itself into our own strange, cruel reality. It’s a sharp inversion of film attempting to be the reflector rather than the reflected. The supposed killer could even masquerade as one of his broody young male protagonists. The attention to detail is palpable. As haunting, tragic, and weirdly cinematic as Pasolini’s murder is, there is a lesson in his death, and it seems to favour much of how he himself viewed the world. That fascism – as a concept, a philosophy, a mode of politics – is soul-destroying, a conduit towards a facsimile of society. Hopefully one day there will be justice for Pasolini’s murder, but that won’t stop his tragic death from still meaning something important and necessary.

The average rate on a 30-year mortgage in the U.S. eased for the third week in a row, a welcome trend for prospective homebuyers during what's typically a less competitive time of the year for the housing market. The rate dropped to 6.6% from 6.69% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.95%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also eased this week. The average rate fell to 5.84% from 5.96% last week. A year ago, it averaged 6.38%, Freddie Mac said. The average rate on a 30-year mortgage is now at its lowest level since Oct. 24, when it was at 6.54%. “The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks," said Sam Khater, Freddie Mac’s chief economist. "While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds.” Elevated mortgage rates and rising home prices have kept homeownership out of reach of many would-be homebuyers. U.S. home sales are on track for their worst year since 1995. Mortgage rates are influenced by several factors, including the moves in the yield on U.S. 10-year Treasury bonds, which lenders use as a guide to price home loans. The yield, which was below 3.7% as recently as September, has mostly hovered around 4.2% this month. It was at 4.3% at midday Thursday. The recent decline in rates follows a mostly upward climb since the average rate on a 30-year mortgage slid to a two-year low of 6.08% in late September after the Federal Reserve cut its main interest rate from a two-decade high. While the central bank doesn’t set mortgage rates, its actions and the trajectory of inflation influence the moves in the 10-year Treasury yield. Many economists and traders on Wall Street expect that the Fed will cut its main interest rate again at its policy meeting next week. Home shoppers and homeowners seeking to refinance their existing mortgage to a lower rate are taking advantage of the recent pullback in home-loan borrowing costs. Mortgage applications rose 5.4% last week from a week earlier, the fifth straight increase, according to the Mortgage Bankers Association. Refinance loan applications climbed 27%. “Purchase applications have increased on an annual basis every week except for one over the past three months, a positive sign for the mortgage market to close out this year,” said MBA CEO Bob Broeksmit. With home prices near all-time highs and still rising nationally, albeit more slowly, many prospective homebuyers are likely holding out for mortgage rates to ease further in coming months. But there may not be much relief, given that many housing economists predict the average rate on a 30-year mortgage will remain above 6% next year.

Netflix Stock: Buy, Sell, or Hold?There was no sitting room, and barely any standing room, at TinyBrickOven on Thursday, a day after the South Baltimore pizza shop had originally been slated to close. The post-Christmas full house was anticipated after the small Light Street pizza shop got a publicity boost and a $60,000 commitment on Monday from Barstool Sports founder Dave Portnoy. Jeff Taylor, owner of Westminster-based catering business Staglio Pizza, was in to assist TinyBrickOven owner William Fagg as the team made pies for customers. “His pies are amazing, his attitude’s amazing,” Fagg said of his pizza-tossing friend. Fagg received the five-figure influx of cash after telling Portnoy that he would need roughly $60,000 to stay in business for the next year. Portnoy, a part-time pizza influencer reviewing the Federal Hill shop, replied that it was “done” before offering Fagg a handshake during his “one-bite” critique posted Monday. Fagg has been seeking a liquor license for years after opening up the small New York-style pizza shop in 2019. While cooking pizzas during Thursday’s lunch rush, he said getting a license to serve beer and wine would mean “that we’d be on an even playing field” with competitors in South Baltimore. Chief among the competition is Cross Street Market, which is located next door, and includes a pizza shop that can serve beer with its slices. Fagg said that he has nothing against the market or Pizza di Joey, but thinks that there should be room for his small business to compete. Fagg, a Navy veteran, said that his pizzeria obtaining such a liquor permit hinges on not just the Baltimore City Board of Liquor License Commissioners, but also the state legislature. The Maryland General Assembly would need to pass legislation adjusting certain alcohol control rules before he can be granted an application, he said. As he cooked pizzas on Thursday, Fagg noted that couldn’t completely wrap his head around the specifics of what the state legislation would entail. Federal Hill, already densely packed with noisy bars as well as residential buildings, is a notoriously difficult place to secure a license, and TinyBrickOven is located in a central area close to the main drag. The pizzeria’s website urges supporters to contact Maryland Senate President Bill Ferguson and Baltimore Del. Luke Clippinger, who did not return requests for comment on Thursday, about passing legislation needed to grant Fagg a beer and wine license. Fagg said he’s also pitched legislation that would create a “locals-only” liquor permit for small businesses to serve locally made beer and wine. The $60,000 cash infusion from Portnoy should help the shop stay open for at least a year and get its license, Fagg said. His restaurant, previously on the brink of closing, is now eyeing its own commercial space . Fagg’s restaurant is known for its involvement in the surrounding community, often running fundraisers for people in need. During the holiday season, the restaurant runs a “Pay-It-Forward Program” where donations help provide hot pizzas to struggling families and people experiencing homelessness. The local pizza shop’s booster, Dave Portnoy, is most widely known for the sports and pop culture media brand he founded, Barstool Sports. Starting as a weekly print publication in 2003, Barstool has grown into a national digital media empire churning out sports and pop culture content. Portnoy, who serves as Barstool’s president, has branded himself through a blunt, pizza- and sports-loving persona as “El Presidente.” He has a history of pushing back against critics who have accused him of making racist and misogynistic comments . Portnoy recently lost a defamation lawsuit against Insider.com after the outlet published two reports citing women who accused Portnoy of sexual misconduct. On top of being a major promoter of online sports betting, Portnoy, 47, is considered to be one of the pizza world’s biggest influencers . His “one bite” pizza reviews, uploaded nearly every weekday , have enough reach to either rescue a struggling pizza shops or kill business for good when he renders his score on a 0 to 10 scale, including decimals. His verdict after taking multiple bites of a TinyBrickOven pie outside the Baltimore shop this week was a 7.9, praising the pizza’s “nice undercarriage” and Fagg’s “upbeat” spirit. “There’s no way this place should be going out of business,” Portnoy said. “Cost me 60 dimes right there, but whatever,” Portnoy said as he left the shop, using an expletive while commenting that he’s a “nice” person. Have a news tip? Contact Dan Belson at dbelson@baltsun.com , on X as @DanBelson_ or on Signal as @danbels.62.

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