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2025-01-23
As it turns out, August 5 was a great day to buy bitcoin when it briefly fell below US$50,000. If you did, and held on for what turned out to be a relatively short white knuckle ride lasting exactly four months, you would have succeeded in doubling your money after bitcoin traded above US$100,000 last week to reach a new all-time high. That seems like an extraordinary outcome – and it is! Never before has the election of a US President delivered such a significant windfall to a group of investors who right now must feel like they have just experienced the trade of their lives. Since Donald Trump’s victory was confirmed one month ago, bitcoin has increased in value by an astonishing 40 percent. And bitcoin is not alone in feeling the love. Excluding stablecoins, which are designed to avoid price swings, the top 20 crypto coins have appreciated even faster, on average, than bitcoin. Dogecoin, a meme coin often promoted by Elon Musk, an ardent Trump fan-turned-adviser, has more than tripled in value since election day. It marks a stunning comeback from 2022-23, when a perfect storm sent cryptocurrencies tumbling from the peaks they had reached during the mania of 2021. Back then the US Federal Reserve was briskly raising interest rates, and in doing so cooling the speculative fever that had gripped markets in the wake of the Covid-19 pandemic. Mismanagement and fraud caused several crypto firms once deemed above board – not least FTX, one of the largest crypto exchanges – to collapse, tainting the entire industry. Financial watchdogs were preparing to pounce and potentially regulate the sector almost out of existence. But then crypto found the perfect champion in Donald Trump, a convert who would not only preach the crypto gospel to his devoted flock in the runup to his eventual re-election but proclaim the word of crypto with messianic zeal few believers could have ever imagined. On any level none of it makes any sense. Why is something whose value can’t be measured worth 40 percent more than it was a month ago? But trying to explain the rise of bitcoin is a bit like trying to explain the existence of God to an atheist. You’re either a believer in cryptocurrencies or you’re not. And right now there will be many investors wishing they could believe, but just can’t bring themselves to convert, although judging by the numbers quite a few already have. Equally, there will be plenty of others, particularly techno loving trend loving Gen Zers, who in recent weeks just couldn’t resist joining the herd. After all, they’re the generation who love nothing more than jumping on board whenever something shiny catches their attention. And for those who did, they have been handsomely rewarded for their risk-taking. It all seems such an easy way to make money, particularly as the meme coin craze once again ignites in the same way NFTs (remember those) did in 2021. But search “is bitcoin in a bubble?” and you’ll find plenty of thought provoking commentary suggesting bitcoin is no different from many other bubbles that have formed previously in financial markets; though what makes this one different is the amount of serious money now backing bitcoin as a result of the emergence of crypto-focused exchange traded funds or ETFs. Recent studies on the determinants of speculative bubbles in the cryptocurrency market have produced varied results. Some researchers have pointed to herd behaviour as the key driver, while others have emphasized the influence of tweets from the likes of Elon Musk, or more recently those of President-elect Donald Trump. Other authors have put forth the argument of volume shocks. The debate surrounding the concept of a speculative bubble often centres on whether bubbles result from rational or irrational behaviour. According to the rationalist perspective, a speculative bubble is defined as an abnormal rise in asset prices not justified by intrinsic factors. This means that asset prices increase beyond their fundamental value due to speculative activity, while continuing to attract new investors until they reach the maximum rational anticipation level before abruptly falling to their fundamental value as a result of a bubble having formed. According to the irrationalist perspective, a speculative bubble occurs when security prices, particularly stocks, rise well above their actual value. This trend continues until there are no more potential buyers. Supply then becomes significantly greater than demand, leading to panic and causing prices to rapidly go into reverse. Investors are frequently driven by herd behaviour, where one buys because they see others buying, assuming the others possess the correct information. Given the significant amount of promotion of cryptocurrencies on social media channels by a range of high profile opinion leaders and so called ‘influencers’, it’s not hard to see why bitcoin has quickly gained the momentum it has, just as we saw a few years ago with the emergence of the GameStop phenomenon. More people jumping on board in turn attracts more people until some begin to start cashing in and so the pendulum eventually tips the other way. But while it is relatively straightforward to be able to value a share, or most other financial investments, valuing bitcoin requires the investor to buy into a belief system for an asset that itself has no underlying value at all. It simply relies on the buyer being willing to pay a higher price than the seller paid it for. That old trading adage “markets can remain irrational longer than you can remain solvent” comes to mind. So could bitcoin double in value again in a years’ time? Who knows? It is just as likely to double in value as it is to halve in value. We have no idea, which indeed is the essence of its appeal to investors who love the thrill of the chase. It’s the ultimate investment for those who revel in the ‘risk-on-steroids’ aspect of bitcoin, and crypto currencies more generally. But as the value of those cryptocurrencies closes in on US$4 trillion globally, a significant correction in the price has much greater implications for global financial stability than was the case just a few years ago. It’s worth considering the global crypto market now equates to one third of the size of the entire US mortgage market and in 2008/09 we saw what happened when less than 10 percent of it went bad. Right now, it’s the believers who are calling the tune, but it may well be the non-believers who also end up paying the price for the current speculative fervour. The NZ sharemarket recorded its second biggest weekly fall for the year with the slipping almost 2 percent, following Auckland Council’s surprise decision to sell off its remaining 9.7 percent shareholding in had investors cashing up to take advantage of the unexpected buying opportunity. As the country’s only major ‘gateway’ airport, the block sale offered investors a rare chance to buy into a high quality infrastructure, with a unique monopoly, that is particularly attractive for long term fund managers. The lightening quick sale, which seemingly attracted little debate amongst Auckland’s cash-strapped councillors compared to the decision to sell the first tranche of its shareholding last year, will return at least $1.31 billion dollars for Auckland Councils Future Fund. Auckland Airport (AIA) shares ended the week up 4.6 percent at $8.12 following the completion of the sale process. Just three weeks ago AIA shares traded as low as $7.21. With its increased liquidity, AIA will now move to the number two spot on the NZX50 index from today with a weighting of 10.1 percent, while market leader , will see its weighting slightly reduced from its current 16.8 percent and will be relegated to the number 3 position with a weighting of around 9.5%. Aside from the Auckland Airport share sale, there was a noticeable weariness amongst investors at the prospect of NZ’s economic rebound potentially taking longer than had previously been expected, according to recent data. ANZ Research said the Half-Year Economic and Fiscal Update, which will be released on December 17, is expected to show a potential delay to achieving a surplus until 2029 at the earliest, following a more pessimistic tone from the Treasury on the economic outlook along with an expected upgrade to bond issuance guidance. Across the Tasman, Australia’s annual GDP increased 0.8 percent, below the estimate of 1.1 percent and behind the 1 percent rise in the 12 months through June. The slowing economy raised hopes that its Reserve Bank might reduce its official cash rate when it meets this week having been at a 13-year high of 4.35 percent since late last year. (THL) shares ended the week down almost 7 percent at $1.91 after announcing part of its business would be restructured. The company said it had combined the roles of chief financial and chief people officer as well as announcing the closure of its Melbourne subassembly plant with the loss of 100 jobs. THL said support office roles in the United States had also been reduced, resulting in savings of more than $500,000 a year, as part of its program of targeting $12m in cost reductions by 2027. THL continues to face difficult trading conditions in the face of a slump in recreational vehicle rentals and sales. In the US, the benchmark index closed at 6,090, yet another record high, after gaining 1 percent for the week following better than expected jobs data on Friday which showed a total of 227,000 new roles were created in November, a sharp rebound from the 12,000 positions reported in October (subsequently revised up to 36,000 in the latest release). The unemployment rate in the US rose 0.1 percent to 4.2 percent. A US appeals court on Friday upheld a law requiring TikTok’s owner ByteDance to sell the platform or face a likely ban next year in the US, dealing a major blow to the Chinese company behind the video app. The law, signed by outgoing President Joe Biden this year, orders TikTok to be banned in the country if the app does not divest from its parent by January 19 2025 — the day before Donald Trump is inaugurated as president. The unanimous ruling from the US Court of Appeals for the District of Columbia Circuit said the law — which centres on a controversial national security issue involving China and received strong bipartisan support in Congress — was constitutional and did not violate First Amendment protections for free speech, as TikTok had claimed. The “government acted solely to protect that freedom from a foreign adversary nation and to limit that adversary’s ability to gather data on people in the United States,” the panel wrote in its decision. TikTok in now left in a precarious position in one of its biggest markets, although the law’s political future is uncertain. On the campaign trail before his re-election, Trump said he opposed the platform’s ban and promised to “save” the app. In an email to staff, TikTok chief executive Shou Zi Chew wrote that the next step would be to “seek an injunction of the ban, pending a review by the US Supreme Court.” The law requires Apple and Google to remove the social media app, which is wildly popular among younger Generation Z users, from their app stores if a divestiture does not take place before the January deadline. It also bans the app from web-hosting services. The reported the Chinese embassy in Washington said the law would have “a serious impact on the online social platform used by half of Americans” and was a “blatant act of commercial robbery”. Before his re-election, Trump said he would not ban TikTok upon his return to the White House, in an attempt to preserve “competition” in a market dominated by Mark Zuckerberg’s Meta, which the president-elect has described as an “enemy of the people”. International Migration & Travel (Oct) – Stats NZLA Galaxy strike early, hold off New York Red Bulls 2-1 to win their record 6th MLS Cup championship CARSON, Calif. (AP) — Joseph Paintsil and Dejan Joveljic scored in the first half, and the LA Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls on Saturday. Greg Beacham, The Associated Press Dec 7, 2024 3:26 PM Dec 7, 2024 3:35 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Los Angeles Galaxy forward Joseph Paintsil celebrates after scoring during the first half of the MLS Cup championship soccer match against the New York Red Bulls, Saturday, Dec. 7, 2024, in Carson, Calif. (AP Photo/Etienne Laurent) CARSON, Calif. (AP) — Joseph Paintsil and Dejan Joveljic scored in the first half, and the LA Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls on Saturday. After striking twice in the first 13 minutes of the final with goals from their star forwards, the Galaxy nursed their lead through a scoreless second half to raise their league’s biggest trophy for the first time since 2014. MLS’ most successful franchise struggled through most of the ensuing decade, even finishing 26th in the 29-team league last year. But the Galaxy turned everything around this season with a high-scoring new lineup that finished second in the Western Conference and then streaked through the playoffs with a whopping 18 goals in five games to win another crown. Sean Nealis scored for the seventh-seeded Red Bulls, whose improbable charge through the playoffs ended one win shy of its first Cup championship. With the league's youngest roster, New York fell just short of becoming the lowest-seeded team to win MLS' playoff tournament under first-year German coach Sandro Schwarz. Galaxy goalkeeper John McCarthy made four saves to win his second MLS title in three seasons. He was the MVP of the 2022 MLS Cup Final for the Galaxy's crosstown rival, Los Angeles FC. The Galaxy won this title without perhaps their most important player. Riqui Puig, the playmaking midfielder from Barcelona who ran their offense impressively all season long, tore a ligament in his knee last week in the Western Conference final. Puig watched the game in a suit, but his teammates hadn't forgotten him: After his replacement, Gastón Brugman, set up LA's opening goal with a superb pass, Paintsil held up Puig's jersey to their fans during the celebration. Paintsil put the Galaxy ahead in the ninth minute when he ran onto that sublime pass from Brugman and pounded home his 14th MLS goal — including four in the playoffs — in the Ghanaian forward's outstanding first season. Just four minutes later, Joveljic sprinted past four New York defenders and chipped home the 21st goal of his outstanding year as the Galaxy's striker. Nealis got New York on the scoreboard in the 28th minute when he volleyed home a ball that got loose in LA's penalty area after a corner. The Galaxy's usually shaky defense gave up another handful of good chances before reaching halftime with a tenuous lead. The second half was lively, but scoreless. Red Bulls captain Emil Forsberg hit the outside of the post in the 72nd minute, while Gabriel Pec and Galaxy substitute Marco Reus nearly converted chances a few moments later. The ball got loose again in the Galaxy's penalty area in the third minute of extra time, but two Red Bulls couldn't finish. The Galaxy bench rushed onto the field and prematurely celebrated a victory in the seventh minute of injury time, only to be herded back off for another 30 seconds of play. The Galaxy finished 17-0-3 this season at their frequently renamed suburban stadium, where the sellout crowd of 26,812 for the final included several robust cheering sections of traveling Red Bulls supporters hoping to see their New Jersey-based club’s breakthrough on MLS’ biggest stage. The Galaxy’s Greg Vanney became the fourth coach to win an MLS title with two clubs. The former Galaxy player also won it all with Toronto in 2017. The club famous for employing global stars from David Beckham and Zlatan Ibrahimovic to Robbie Keane and Javier “Chicharito” Hernández rebuilt itself this season with lesser-known young talents from around the world. The Galaxy signed Pec from Brazil and the Ghanaian Paintsil out of Belgium, and the duo combined with incumbent Serbian striker Joveljic to form a potent attack that could outscore almost any MLS opponent. But the Galaxy also relied heavily on Puig, their Catalan catalyst and one of MLS’ best players. Puig stayed in last week's game after injuring his knee, and he even delivered the decisive pass to Joveljic for the game’s only goal. ___ AP soccer: https://apnews.com/soccer Greg Beacham, The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National Sports Groups launch legal challenge against Alberta's new gender-affirming treatment law Dec 7, 2024 3:21 PM Poeltl, Olynyk, Mitchell return to Toronto Raptors' lineup versus Mavericks Dec 7, 2024 3:20 PM Curl-Salemme, Cava lead Minnesota Frost to 5-3 win over Toronto Sceptres in PWHL Dec 7, 2024 3:17 PM Featured Flyerbest online slots game

MOREHEAD, Ky. (AP) — Isaiah Smith ran for a career-high 205 yards on 31 carries and scored a touchdown and San Diego beat Morehead State 37-14 in a season-ending contest for both teams on Saturday. Grant Sergent threw for 184 yards and two touchdowns for San Diego (8-3, 6-2 Pioneer Football League) which ended the season with a four-game win streak and winners of six of seven. The Toreros finished in sole possession of second place in the PFL behind Drake (7-1), which clinched the league outright with a 49-10 win over Stetson on Saturday. Drake beat San Diego 30-28 on a walk-off field goal on Sept. 28 in Des Moines, Iowa. Bryce Patterson threw for 133 yards and a touchdown and James Louis ran for a touchdown for the Eagles (7-5, 5-3). ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP collegebasketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketballNoneCARSON, Calif. (AP) — Joseph Paintsil and Dejan Joveljic scored in the first half, and the LA Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls on Saturday. After striking twice in the first 13 minutes of the final with goals from their star forwards, the Galaxy nursed their lead through a scoreless second half to raise their league’s biggest trophy for the first time since 2014. MLS’ struggled through most of the ensuing decade, even finishing 26th in the 29-team league last year. But the Galaxy turned everything around this season with a high-scoring new lineup that finished second in the Western Conference and then streaked through the playoffs with a whopping 18 goals in five games to win another crown. Sean Nealis scored for the seventh-seeded Red Bulls, whose improbable charge through the playoffs ended one win shy of its first Cup championship. With the league’s youngest roster, New York fell just short of becoming the lowest-seeded team to win MLS’ playoff tournament under first-year German coach Sandro Schwarz. Galaxy goalkeeper John McCarthy made four saves to win his second MLS title in three seasons. He was the MVP of the 2022 MLS Cup Final for the Galaxy’s crosstown rival, Los Angeles FC. The Galaxy won this title without perhaps their most important player. Riqui Puig, the playmaking midfielder from Barcelona who ran their offence impressively all season long, tore a ligament in his knee last week in the Western Conference final. Puig watched the game in a suit, but his teammates hadn’t forgotten him: After his replacement, Gastón Brugman, set up LA’s opening goal with a superb pass, Paintsil held up Puig’s jersey to their fans during the celebration. Paintsil put the Galaxy ahead in the ninth minute when he ran onto that sublime pass from Brugman and pounded home his 14th MLS goal — including four in the playoffs — in the Ghanaian forward’s outstanding first season. Just four minutes later, Joveljic sprinted past four New York defenders and chipped home the 21st goal of his outstanding year as the Galaxy’s striker. Nealis got New York on the scoreboard in the 28th minute when he volleyed home a ball that got loose in LA’s penalty area after a corner. The Galaxy’s usually shaky defence gave up another handful of good chances before reaching halftime with a tenuous lead. The second half was lively, but scoreless. Red Bulls captain Emil Forsberg hit the outside of the post in the 72nd minute, while Gabriel Pec and Galaxy substitute Marco Reus nearly converted chances a few moments later. The ball got loose again in the Galaxy’s penalty area in the third minute of extra time, but two Red Bulls couldn’t finish. The Galaxy bench rushed onto the field and prematurely celebrated a victory in the seventh minute of injury time, only to be herded back off for another 30 seconds of play. The Galaxy finished 17-0-3 this season at their frequently renamed suburban stadium, where the sellout crowd of 26,812 for the final included several robust cheering sections of travelling Red Bulls supporters hoping to see their New Jersey-based club’s breakthrough on MLS’ biggest stage. The Galaxy’s Greg Vanney became the fourth coach to win an MLS title with two clubs. The former Galaxy player coached Toronto FC to the championship in 2017 and to runner-up finishes in both 2016 and 2019. Vanney’s coaching and technical staff in L.A. was full of former Toronto employees. Dan Calichman, Nick Theslof, former Canadian international Jason Bent, Michael Rabasca and Galaxy academy director Mike Munoz all spent time in Toronto. Jim Liston and Tom Williams, in the Galaxy sports performance department, also worked under Vanney in Toronto, as did midfielder Mark Delgado, who started Saturday, and defender Eriq Zavalaeta, who started on the Galaxy bench. The club famous for employing global stars from David Beckham and Zlatan Ibrahimovic to Robbie Keane and Javier “Chicharito” Hernández rebuilt itself this season with lesser-known young talents from around the world. The Galaxy signed Pec from Brazil and the Ghanaian Paintsil out of Belgium, and the duo combined with incumbent Serbian striker Joveljic to form a potent attack that could outscore almost any MLS opponent. But the Galaxy also relied heavily on Puig, their Catalan catalyst and one of MLS’ best players. Puig stayed in last week’s game after injuring his knee, and he even delivered the decisive pass to Joveljic for the game’s only goal. ___ AP soccer:

Former President Jimmy Carter dies aged 100

Former President Jimmy Carter, who served from 1977 to 1981, has died at age 100. The 39th president of the United States was widely admired for his global humanitarian work. Carter won the Nobel Peace Prize in 2002. He was the son of a peanut farmer from Georgia. Former President Jimmy Carter, who rose from humble beginnings in rural Georgia to the White House and was renowned for his charity work around the globe, has died. Advertisement He was 100 years old and passed peacefully in his Plains, Georgia home, the Atlanta Journal-Constitution reported on Sunday, citing Carter's son, Chip. The Carter Center in February 2023 announced that Carter would enter hospice care to "spend his remaining time at home with his family" following several hospital stays. After almost a year and a half in hospice, Carter's grandson, Jason, said the former president was "coming to the end." Advertisement Carter had previously been treated for brain and liver cancer, was hospitalized after a fall in 2019, and had surgery the same year to relieve a buildup of pressure around his brain. Presidents often fade into the background after they leave the White House, but Carter — the 39th president of the United States — was in many ways a more popular, impactful figure after his single tumultuous term from 1977 to 1981. Carter has often been referred to as the best ex-president in history, a compliment he seemed to embrace . Advertisement He came to be admired for his amiable demeanor and lifelong dedication to public service and humanitarianism. Carter was a US Navy veteran and a Nobel laureate. He was preceded in death by his wife of 77 years, Rosalynn Carter, who died in November 2023 at age 96. He is survived by his four children , 11 grandchildren, and 14 great-grandchildren. Carter with, from left, former President George H.W. Bush, then-President-elect Barack Obama, then-President George W. Bush, and former President Bill Clinton at the White House in 2009. J. Scott Applewhite/AP The peanut farmer who became president Carter, whose full name was James Earl Carter Jr., was born October 1, 1924, in Plains, Georgia. His father was a peanut farmer who'd served in the Georgia state legislature. His mother, Lillian Gordy Carter, served as a nurse, civil- and women's-rights activist, and Peace Corps volunteer in India at the age of 68 in 1966. The Carters were deeply tied to their Baptist faith. Advertisement Carter graduated from the US Naval Academy in Annapolis, Maryland, in 1946. He served in the Navy for seven years before returning to Georgia to take over his family's peanut farm after his father died. In a photograph from September 1966, then-Georgia state Sen. Jimmy Carter hugs his wife, Rosalynn, at his Atlanta campaign headquarters. Horace Cort/Associated Press 'I'll never tell a lie' Carter entered state politics as a Democrat in the early 1960s and in 1970 was elected to the Georgia governorship. In 1974, he announced his candidacy for the Democratic nomination for president. Initially, Carter was pegged as a long shot given his lack of political connections and the fact he was relatively unknown nationally. Advertisement But Carter painted himself as an honest outsider with strong morals at a time when many Americans were disillusioned with Washington over the Watergate scandal, and his campaign gradually gained momentum. He repeatedly told voters, "I'll never tell a lie." Carter's longtime embrace of civil rights was also crucial to his victory. Advertisement After being elected governor, Carter declared during his inaugural address, "I say to you quite frankly that the time for racial discrimination is over." Carter, then Georgia's governor, announcing his Democratic candidacy for the US presidency in Atlanta. AP He carried these sentiments into his presidential campaign and allied himself with key Black members of Congress. Carter received overwhelming support from Black voters, especially in the South, which propelled him to the White House. Carter won the Democratic nomination in July 1976, choosing then-Sen. Walter Mondale of Minnesota as his running mate against President Gerald Ford, the Republican incumbent. Carter defeated Ford in November of that year, winning 50.1% of the popular vote and capturing 297 electoral votes to Ford's 240. Advertisement The Georgian swept the Deep South, the last Democrat to do so on the presidential level, while also carrying important battlegrounds like Ohio and Pennsylvania. The informal president As president, Carter sought to portray himself as a man of the people and make the presidency more accessible. After he was sworn in, Carter and his wife walked to the White House, launching an informal tradition followed by subsequent presidents at their inaugurations. Advertisement He also spoke and dressed in a less formal manner and held frequent press conferences. Carter with his wife, Rosalynn, and their daughter, Amy. The Carters started a tradition by walking the parade route from the Capitol to the White House following his inauguration. Suzanne Vlamis/AP Carter entered office as a popular figure pushing for ambitious programs to address the country's myriad social and economic woes. His administration had a historically large number of women, Black, and Latino members and staff. Though Carter's image as an "outsider" seemed to be advantageous during his campaign, it hurt him with Congress once he was in the White House. He struggled to get lawmakers on board with his bold proposals for reform, and his approval ratings tanked as he struggled to push his proposals through the legislative branch. Advertisement A scandal in the summer of 1977 didn't help matters. At the time, Bert Lance, the director of the Office of Management and Budget, was accused of being involved in dubious financial activities as a Georgia banker. Carter at first defended Lance, whom he saw as a close friend, but ultimately called on him to resign. In 1979, amid an energy crisis and recession, Carter delivered his infamous "crisis in confidence" speech, contending that the nation needed to restore its faith in itself. The speech was well-received at first but was ultimately not a particularly successful selling point. Carter with Queen Elizabeth II and the Duke of Edinburgh at Buckingham Palace. PA Images via Getty Images Carter's biggest accomplishments were in foreign policy Despite the many challenges Carter faced, his presidency wasn't without major accomplishments. Advertisement On the domestic front, his achievements included establishing the Department of Education and the Department of Energy and expanding the national parks system. His actions helped lay the framework for future administrations to tackle America's educational and energy needs. But Carter's biggest accomplishments as president came in the foreign-policy arena. He facilitated the first peace treaty between Israel and Egypt, known as the Camp David Accords. Carter also established full diplomatic relations between the US and China and orchestrated two important treaties between the US and Panama. Advertisement Carter with Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin on the North Lawn of the White House as they finished signing the Camp David Accords. Bob Daugherty/AP Carter also stood up to the Soviet Union on human rights and completed negotiation of the SALT II nuclear-limitation treaty (though the treaty ultimately fell through with the Soviet invasion of Afghanistan). Related stories The Iranian hostage crisis and Carter's downfall Carter's progress in the realm of foreign policy was in many ways overshadowed by the 1979 Iran hostage crisis. Amid a revolution in Iran that saw a pro-US government ousted, a mob of students stormed the US Embassy in Tehran and took the staff members as hostages. The revolutionary Iranian government, led by Ayatollah Ruhollah Khomeini, supported the actions of the students. The US Embassy staff members were ultimately held hostage for hundreds of days. Advertisement The timing of the crisis and Carter's perceived failure to secure the release of the hostages, which included a disastrous military operation that failed to rescue them, was deeply damaging to his image domestically. Combined with an economy in turmoil, the hostage crisis was a large part of the reason Carter lost reelection in a landslide to former Gov. Ronald Reagan of California in 1980. In that race, Carter's support had diminished across the South and in the Midwestern and Northeastern states that boosted his first presidential bid; he earned 49 electoral votes to Reagan's 489. Carter's administration negotiated the release of the hostages during his final days in office, and they were freed the same day as Reagan's inauguration. Advertisement The post-presidency peacemaker Carter spent most of his postpresidential years championing human rights and pushing for peace in various corners of the world. He founded The Carter Center to focus on such issues in 1982 and played an active role with Habitat for Humanity until the end of his life. Jimmy Carter, Rosalynn Carter, and former UN Secretary-General Kofi Annan concluding a visit to a polling center in South Sudan. Pete Muller/AP As a private citizen, Carter worked for peace everywhere from North Korea to Haiti. He received the Nobel Peace Prize in 2002 for what the Norwegian Nobel Committee described as his "decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development." Related stories Staying humble After he left the White House, Carter moved back to Plains, Georgia. Advertisement He's the only US president in the modern era to return to the two-bedroom house he lived in before ascending to the highest office in the land. Carter favored a humble lifestyle. He was known to fly on commercial airliners, unlike other past presidents who preferred private jets, and was filmed walking up and down the aisle to shake the hands of other passengers. —USA TODAY (@USATODAY) June 13, 2017 He also cost US taxpayers far less per year than any other former president, according to the General Services Administration, in large part because he avoided extravagances. Advertisement Carter was a former president longer than anyone else in US history. Staying true to principles In 1954, the chief of police and a Baptist minister in Plains asked Carter to join the local White Citizens' Council, a pro-segregation organization. The peanut farmer said no, and a few days later the men came back to tell Carter he was the only white man in the community who hadn't joined. Carter told them he didn't care. Advertisement The police chief and minister returned a third time and said they would pay the $5 membership fee for Carter if that's what was holding him back. He was also warned that his peanut business would face a boycott if he didn't join. In response, Carter told them : "I've got $5. And I'd flush it down the toilet before I'd give it to you." Throughout Carter's long life, he frequently proved unafraid to stray from the pack, even if it made him at times unpopular.

When the page turns on 2024, it will be time to say goodbye, once and for all, to the amateur athlete in college sports. In theory, the concept held on stubbornly via the quaint and now all-but-dead notion that student-athletes played only for pride, a scholarship and some meal money. In practice, the amateurs have been disappearing for years, washed away by the steady millions, now billions, that have flowed into college athletics, mostly through football and basketball both through legitimate and illicit means. In the coming year, the last vestiges of amateur college sports are expected to officially sputter out — the final step of a journey that has felt inevitable since 2021. That’s when the Supreme Court laid the foundation for paying college players in exchange for promotions — on social media, TV, video games, you name it — featuring their name, image or likeness (NIL). The changes have come in spasms so far, not always well thought out, not always fair and not regulated by any single entity like the NCAA or federal government, but rather by a collection of state laws, along with rules at individual schools and the leagues in which they play. But on April 7, the day final approval is expected for the landmark, $2.8 billion lawsuit settlement that lays the foundation for players to receive money directly from their schools, what was once considered anathema to the entire concept of college sports will become the norm. David Schnase, the NCAA’s vice president for academic and membership affairs, acknowledges that maintaining the unique essence of college sports is a challenge in the shifting landscape. “You can use the word ‘pro,’ you can use the word ‘amateur,’ you can attach whatever moniker you want to it, but those are just labels,” Schnase said. “It’s much less about labels and more about experiences and circumstances. Circumstances are different today than they were last year and they are likely going to be different in the foreseeable future.” Do athletes get rich off these new deals? Few would argue that college athletes should get something back for the billions they help produce in TV and ticket revenue, merchandise sales and the like. But is everyone going to cash in? Are college players really getting rich? Recent headlines suggest top quarterback recruit Bryce Underwood was lured to Michigan thanks to funding from billionaire Oracle founder Larry Ellison, and that a top basketball recruit, A.J. Dybantsa, is heading to BYU — not a hoops powerhouse — for the reported price of $7 million. For every Underwood or Dybantsa, though, there are even more Matthew Slukas and Beau Pribulas. Sluka’s agent says his son agreed to play quarterback at UNLV after a promise of receiving $100,000 and quit three games into the season after the checks never came. Pribula was the backup quarterback at Penn State who abruptly entered the transfer portal earlier this month, choosing the college version of free agency over a chance to play with the Nittany Lions in the College Football Playoff. He’s not the only one hitting the portal in hopes of getting rich before new regulations related to the NCAA settlement take effect. “We’ve got problems in college football,” Penn State coach James Franklin said. The settlement will overhaul the current system. Currently, players receive money via third-party collectives that are booster-funded groups affiliated with individual schools. Coming up fast: the schools paying the athletes directly — the term often used here is “revenue sharing” — with collectives still an option, but not the only one. “It’s going to be more transparent,” said Jeff Kessler, the plaintiffs’ attorney and antitrust veteran who helped shape the settlement. “If anything, having the schools handling all the payments is only going to improve the system.” The NCAA has started collecting data about NIL payments, which date to July 2021. Its first set of numbers, which includes data from more than 140 schools across more than 40 sports in 2024, show a bracing disconnect between have and have-nots. For instance, average earnings for football and men’s and women’s basketball players is nearly $38,000. But the median earning — the middle number among all the data points on the list — is only $1,328, a sign of how much the biggest contracts skew the average. Women make vastly less than men The statistics also show a vast difference in earnings between men and women, an issue that could impact schools’ ability to comply with Title IX. That 1972 law requires schools to provide equal athletic scholarships and financial aid but not necessarily that they spend the same dollar amount on men and women. Heading into 2025, there is no clarity on how this issue will play out. Regardless, the numbers are jarring. The NCAA data set shows the average earnings for women in 16 sports was $8,624, compared with $33,321 for men in 11 sports. Men,’s basketball players averaged $56,000 compared with $11,500 for women. Paying players could cost some, help others The biggest losers from this move toward a professional model could be all the swimmers and wrestlers and field hockey players — the athletes in the so-called non-revenue sports whose programs also happen to serve as the backbone of the U.S. Olympic team. Only a tiny percentage of those athletes are getting rich, and now that universities have to use revenue to pay the most sought-after players in their athletic programs, there could be cuts to the smaller sports. Also, someone’s going to have backfill the revenue that will now go to the players. Well-heeled donors like Ellison are not around for every school, nor have private equity firms started sending money. The average fan will have to pony up, and the last six months have seen dozens — if not hundreds — of athletic directors begging alumni for money and warning them of changes ahead. Already there are schools placing surcharges on tickets or concessions. How will fans respond to a more transactional model of college sports? “I don’t know that fans have this really great love for the idea of 100% pure amateurism,” said Nels Popp, a University of North Carolina sports business professor. “I think what they care about is the colors and the logos and the brand. I don’t know that it matters to them if the players are making a little bit of money or a lot of money. They’ve been making money for the last couple years, and I don’t know that that’s making fans really back off.” Olympics set the stage The last time amateurism came under such assault was in the 1980s, when the Olympics unwound the final remnants of pretending the vast majority of their athletes were anything other than full-time professionals. The transformation was tinged with a note of honesty: The people putting on the show should reap some benefits from it. Even 40 years later, there’s an good argument they remain underpaid. The contours of the same debate are shaping up in college sports. Athletes are pushing for a players’ association that would add more transparency to a business that, even with the changes coming, is still largely dictated by the schools. The NCAA, while acceding to the need to pay the players, wants nothing to do with turning them into actual employees of the schools they play for. It’s an expensive prospect that is winding its way through the legal system via lawsuits and labor hearings that many in college sports are desperate to avoid for fear it will push the entire industry off the financial cliff. Among the few things everyone agrees on is that things aren’t going back to a time when athletes pretended to play for pride while the money moved under tables and through shadows. And that this, in fact, could only be the start, not the end, of the transformation of college sports. “At some point, I think people might have to understand that maybe college athletes don’t go to college anymore,” Popp said. “Or maybe they don’t go to class during the season. There could be more radical changes, and as long as they’re wearing the right logo and the right colors, I’m not sure that fans really care.” Be the first to know Get local news delivered to your inbox!

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Japanese author Haruki Murakami is back with his latest work of fiction... Fiction The Lion Women Of Tehran by Marjan Kamali is published in paperback by Simon & Schuster The Lion Women Of Tehran is a powerful, moving story about freedom and friendship by Iranian-American novelist Marjan Kamali. At a time when political turmoil builds up in Iran, Ellie and Homa – two best friends from different upbringings – are forced into living very different lives. Kamali takes us on a journey of friendship, showing us the beauty of long-lasting ties of sisterhood, and highlights the importance of freedom for women around the world. It’s an emotional journey and one that helps readers realise the power that women hold, and the impact of their lion voice. Trial By Fire by Danielle Steel is published in hardback by Macmillan Trial By Fire by Danielle Steele is a story about loss, love and the courage it takes to move forward after difficult times. Dahlia de Beaumont, born to a French mother and American father, is owner and CEO of the family perfume business. The traumatising loss of her parents and later her young husband result in her focusing her time and energy into her four children and perfume empire. She brings up her children alone and can’t imagine loving another man as she did her husband. During a trip to San Francisco, wildfires erupt in Napa Valley, and she’s compelled to offer aid. Not only will this risk her life and her future but will also create new opportunities to build relationships and cement that which is important in her life. This expansive novel explores themes of loss, love, resilience, personal growth, and the opportunity for a renewed chance at love. It offers an intimate portrayal of loss and healing, which feels deeply personal. The author’s ability to weave love and family into a story of grief is powerful, highlighting how important connections are during challenging times. The City And Its Uncertain Walls by Haruki Murakami, translated by Philip Gabriel, is published in hardback by Harvill Secker Wistful, nostalgic, powerful and poignant – there are so many more ways you could describe Haruki Murakami’s latest novel, The City And Its Uncertain Walls. Based on a novella he wrote many years ago, it tells the story of a young man’s journey into an imaginary city to find the true self of his girlfriend who has gone missing. Inside the city, with its mysterious high walls and other notable quirks, he finds a job in a library as a dream reader, working alongside his girlfriend. But she has no memory of their love story or their previous life together. And so begins a quest, and one which takes you the reader along every step of the way, making you question your own journey and how far you would travel for love. The novel is also an ode to libraries and books, the physical realm of which has dissipated in an age of technology. Non-fiction Cher: The Memoir, Part One by Cher is published in hardback by HarperCollins As autobiographies go, Cher’s is certainly not short on subject matter. So much so that her new release is Cher: The Memoir, Part One, taking the reader up to the early 1980s. Her story is truly remarkable, starting with a family background she describes as like the “opening of a Dickens novel”. The supporting characters read like the stars on Hollywood’s Walk of Fame and non-stop anecdotes include teenage dates with Warren Beatty, Phil Spector brandishing a gun and an encounter with a fish-shaped sex toy in Salvador Dali’s studio. Behind the glamour is her relationship with controlling husband Sonny Bono, who she says helped her become a star but treated her like a servant. Her sense of humour is apparent throughout, although some of her wit is lost in the written word. A fascinating read and insight into a true pop icon, part two can’t come quick enough. Children’s book of the week Tales From Muggleswick Wood by Vicky Cowie, illustrated by Charlie Mackesy, is published in hardback by Bloomsbury Children’s Books East Yorkshire-based writer Vicky Cowie presents a stunningly bound gift edition combining five of her previous short stories, framed within a narrative of a grandmother reading to her grandchildren across a wholesome weekend sleepover at her countryside home. Interconnecting tales Muggleswick Wood, Kevin The Kelpie, The Biggest Blooming Beetle, The Secret Of Snittington Hall and Melvin The Mole are presented as bedtime tales, lovingly told to cousins creating a sweet, fantastical world young readers can dive into; vividly imagining the landscape and characters as easily as you might Kenneth Grahame’s Toad Of Toad Hall. With gorgeous illustrations from Charlie Mackesy – who you might recognise from The Boy, The Mole, The Fox And The Horse – this timeless collective brings to mind Beatrix Potter and A. A. Milne’s most beloved characters, and is a perfect gift for any young reader (aged four to eight years) this Christmas, to be handed down through generations.

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LOS ANGELES — Until he sustained a season-ending knee injury last week in the Western Conference final, Galaxy playmaker Riqui Puig was having a tremendous season. So I heard. I watched Puig play only twice this year, once in the Galaxy's season-opening 1-1 draw with Inter Miami and a second time in his team's Fourth of July defeat to LAFC at the Rose Bowl. Outside of short highlight clips on social media, I never saw the former Barcelona prospect, not even when he assisted on the goal that sent the Galaxy to the MLS Cup final. That wasn't a reflection of my interest. Some of my friends will make fun of me for publicly admitting this, but I like Major League Soccer. I covered the league in my first job out of college and have casually kept up with it since. I take my children to a couple of games a year. My 11-year-old son owns Galaxy and LAFC hats but no Dodgers or Lakers merchandise. When flipping through channels in the past, if presented with the choice of, say, college football or MLS, I usually watched MLS. But not this year. While the MLS Cup final between the Galaxy and New York Red Bulls will be shown on Fox and Fox Deportes, the majority of games are now exclusively behind a paywall, courtesy of the league's broadcasting deal with Apple. MLS Season Pass subscriptions were reasonably priced — $79 for the entire season for Apple TV+ subscribers, $99 for non-subscribers — but I was already paying for DirecTV Stream, Netflix, Amazon Prime, PlayStation Plus and who knows what else. MLS became a casualty in my household, as well as in many others, and the possibility of being out of sight and out of mind should be a concern for a league that is looking to expand its audience. Which isn't to say the league made a mistake. This was a gamble MLS had to take. Now in the second year of a 10-year, $2.5 billion deal with Apple, MLS did what Major League Baseball is talking about doing, which is to centralize its broadcasting rights and sell them to a digital platform. Regional sports networks have been decimated by cord cutting, making traditional economic models unsustainable. The move to Apple not only increased the league's broadcast revenues — previous deals with ESPN, Fox and Univision were worth a combined $90 million annually, according to multiple reports — but also introduced a measure of uniformity in the league. The quality of the broadcasts are better than they were under regional sports networks. Viewers know where to watch games and when, as every one of them is on Season Pass and most of them are scheduled to start at 7:30 p.m. local time either on Wednesday or Saturday. "That's been fueling our growth and driving our fan engagement," MLS Commissioner Don Garber said Friday at his annual state of the league address. Apple and MLS declined to reveal the number of League Pass subscribers, but the league provided polling figures that indicated 94% of viewers offered positive or neutral reviews of League Pass. The average viewing time for a game is about 65 minutes for a 90-minute game, according to Garber. In other words, the League Pass is well-liked — by the people who have it. The challenge now is to increase that audience. The launch of League Pass last year coincided with the arrival of Lionel Messi, which presumably resulted in a wave of subscriptions. But the league can't count on the appearance of the next Messi; there is only one of him. MLS pointed to how its fans watch sports on streaming devices or recorded television than any other U.S. sports league, as well as how 71% of its fans are under the age of 45. The league also pointed to how it effectively drew more viewers to the Apple broadcast of Inter Miami's postseason opener with a livestream of a "Messi Cam' on TikTok, indicating further collaborations with wide-reaching entities could be in its future. Garber mentioned how Season Pass is available in other countries. The commissioner also made note of how Apple places games every week in front of its paywall. "What we have, really, is a communication problem," Garber said. "This is new, and we've got to work with Apple, we've got to work with our clubs and we've got to work with our partners to get more exposure to what we think is a great product." The greatest benefit to the league could be Apple's vested interest in improving the on-field product. MLS insiders said Apple has not only encouraged teams to sign more high-profile players but also pushed the league to switch to a fall-to-spring calendar more commonplace in other parts of the world, reasoning that doing so would simplify the process of buying and selling players. The on-field product is what matters. The on-field product is why MLS continues to face competition for viewers from overseas leagues. The on-field product is why the league hasn't succeeded in converting every soccer fan into a MLS fan. And ultimately, if casual viewers such as myself are to pay to watch the Galaxy or LAFC on a screen of some kind, the on-field product will be why. Get local news delivered to your inbox!UNCASVILLE, Conn. (AP) — Jackie Johnson III led Fordham with 29 points and Joshua Rivera hit the game-winning 3-pointer with eight seconds left as the Rams knocked off Bryant 86-84 on Saturday. Johnson added four steals for the Rams (7-5). Rivera scored 17 points and added five rebounds. Japhet Medor shot 5 for 12 (0 for 3 from 3-point range) and 7 of 8 from the free-throw line to finish with 17 points. The Bulldogs (6-7) were led in scoring by Kvonn Cramer, who finished with 23 points. Bryant also got 21 points, 10 rebounds, eight assists and two steals from Earl Timberlake. Barry Evans had 10 points, nine rebounds and two steals. Medor scored 12 second-half points for Fordham. Up next for Fordham is a matchup Saturday with Albany (NY) at home. Bryant visits Towson on Sunday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Police in Mansfield are investigating after several mailboxes were found damaged early Sunday morning. The Mansfield Police Department said the incident occurred around 1 a.m. Sunday and damaged mailboxes were found along a portion of East Street east of Route 106, including Mill Street, Squire Avenue and Ephraim Drive. Police said footage captured by one of the victims showed a person swinging an object and destroying a mailbox after getting out of a vehicle. "Video from one victim shows a wannabe Juan Soto working on his off-season swing after getting out of and destroying the mailbox," police said in a social media post. The cause of the destroyed mailboxes remains under investigation and police said they encourage anyone with a destroyed mailbox to get in contact with them.

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