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UNICEF applauds enactment of new laws in Fiji
Young men swung to the right for Donald Trump after a campaign dominated by masculine appealsIreland vote points to status quo but PM faces support drop
Romania's far-right candidate Calin Georgescu on Saturday urged voters to go to polling stations despite the country's top court having scrapped the presidential elections over alleged irregularities amid claims of Russian interference. The court's shock ruling, coming just before the presidential run-off which had been due Sunday, opens the way for a new electoral process starting from scratch in the EU and NATO member state bordering war-torn Ukraine. The annulment follows a spate of intelligence documents declassified by the presidency this week detailing allegations against Georgescu and Russia, including claims of "massive" social media promotion and cyberattacks. Georgescu -- who unexpectedly topped last month's first round of voting -- called for voters on Sunday "to wait to be welcomed, to wait for democracy to win through their power", said a statement from his team. "Mr. Calin Georgescu believes that voting is an earned right," said the statement. "That is why he believes that Romanians have the right to be in front of the polling stations tomorrow." Georgescu himself would go to a polling station near Bucharest at 0600 GMT, said his team. Earlier Saturday, police raided three houses in Brasov city in central Romania as part of the investigation "in connection with crimes of voter corruption, money laundering, computer forgery". Among the houses searched was that of businessman Bogdan Peschir, a TikTok user who according to the declassified documents allegedly paid $381,000 to those involved in the promotion of Georgescu, Romanian media reported. Peschir has compared his support for Georgescu to the world's richest man Elon Musk's backing of US president-elect Donald Trump. Little-known outsider Georgescu, a 62-year-old former senior civil servant, was favourite to win the second round on Sunday against centrist pro-EU mayor Elena Lasconi, 52, according to several polls. But the constitutional court on Friday unanimously decided to annul the entire electoral process as it was "marred... by multiple irregularities and violations of electoral legislation". President Klaus Iohannis said on Saturday that he had discussed with European Commission chief Ursula von der Leyen, and they agreed on the "need to strengthen the security of social media". The European Commission announced earlier this week that it had stepped up monitoring TikTok after Romania's authorities alleged "preferential treatment" of Georgescu on the platform -- a claim the company has denied. Following the court's decision, the United States said it had faith in Romania's institutions and called for a "peaceful democratic process". Trump's eldest son, Donald Trump Jr., on X branded the vote's cancellation an "attempt at rigging the outcome" and "denying the will of the people". Georgescu called it "a formalised coup d'etat" and said democracy was "under attack". His team on Saturday declined to comment on the raids, saying they "will not comment or provide answers until we have exact data". Georgescu and another far-right party, the AUR, have said they plan to appeal the decision to stop the voting to the High Court of Cassation and Justice. A past admirer of Russian President Vladimir Putin, Georgescu, an EU and NATO sceptic, in recent days had reframed himself as "ultra pro-Trump," vowing to put Romania "on the world map" and cut aid for neighbouring Ukraine. In an interview with US broadcaster Sky News on Saturday, Georgescu said there were no links between him and Russia. Political scientist Costin Ciobanu told AFP that the annulment has "further polarised Romanian society". With trust in institutions and the ruling class already low, the vote's cancellation poses a "major danger that Romanians will think that it doesn't matter how they vote", Ciobanu added. Elsewhere in the EU, Austria annulled presidential elections in 2016 because of procedural irregularities. In Romania, a new government is expected to set another date for the presidential vote. In last weekend's legislative elections, the ruling Social Democrats came top. But far-right parties made big gains, securing an unprecedented third of the ballots on mounting anger over soaring inflation and fears over Russia's war in Ukraine. In a joint appeal on Wednesday, the Social Democrats and three other pro-EU parties -- together making up an absolute majority in parliament -- signed an agreement to form a coalition, promising "stability". bur-jza/jjNOVATO, Calif. , Dec. 11, 2024 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq: HNNA) today reported results for the fiscal year ended September 30, 2024 . "So far in 2024, the U.S. stock market and economy have thrived on a wave of optimism," said Neil Hennessy , Chairman and CEO. "With the presidential election and initial Federal Reserve rate cuts now behind us, investors can return their focus to core fundamentals of the U.S. economy, which appear solid." "Over the course of more than four decades in this business, I have witnessed the economic resilience of the United States through periods of high inflation, rising interest rates, and geopolitical uncertainty. Today, I believe many economic fundamentals are strong. Unemployment is low and stable, corporate earnings and cash flows are robust, and our banking system is both healthy and viable. With positive consumer sentiment, I see spending driving corporate profits, and I believe this will spur the stock market's continued growth through the end of the year and beyond. As always, our focus remains on navigating any economic environment to deliver long-term value for our shareholders," he continued. "In the one-year period ended September 30, 2024 , the Dow Jones Industrial Average returned 28.85% and the S&P 500 ® Index returned 36.35% (on a total return basis). Over the same period, all 17 Hennessy Funds posted positive returns. Over the longer term, 15 of the Hennessy Funds posted positive returns for the three-year period ended September 30, 2024 , and all 16 Hennessy Funds with at least 10 years of operating history posted positive returns for both the 5-year and 10-year periods ended September 30, 2024 ," stated Neil Hennessy . "In 2024, we successfully executed on all three fronts of our long-standing business strategy," said Teresa Nilsen , President and COO. "Over the twelve months ended September 30, 2024 , we purchased assets related to the management of $72 million in mutual funds, we welcomed $549 million in net new assets under management, and we benefited from nearly $1 billion in market appreciation." "The effective execution of our business model drove a 23% increase in our average assets under management over the prior year, creating a strong start to fiscal year 2025 with total assets under management up more than 50% since September 30, 2023 ," she continued. "Our fiscal year results reflect both the strength of our consistent strategy and the dedication of our talented team, whose focused efforts have driven the success of Hennessy Advisors for over 35 years. I am immensely proud of what we've accomplished and excited about the opportunities that lie ahead." Summary Highlights for the Fiscal Year (compared to fiscal year 2023): About Hennessy Advisors, Inc. Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, and sector and specialty funds. Hennessy Advisors, Inc. is committed to providing superior service to shareholders and employing a consistent and disciplined approach to investing based on a buy‐and‐hold philosophy that rejects the idea of market timing. Supplemental Information Nothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Forward-Looking Statements This press release contains "forward-looking statements" for which Hennessy Advisors, Inc. claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. Forward‐looking statements relate to expectations and projections about future events based on currently available information. Forward‐looking statements are not a guarantee of future performance or results and are not necessarily accurate indications of the times at which, or means by which, such performance or results may be achieved. Forward‐looking statements are subject to risks, uncertainties, and assumptions, including those described in the sections entitled "Risk Factors" and elsewhere in the reports that Hennessy Advisors, Inc. files with the Securities and Exchange Commission. Unforeseen developments could cause actual performance or results to differ substantially from those expressed in, or suggested by, the forward‐looking statements. Hennessy Advisors, Inc. management does not assume responsibility for the accuracy or completeness of the forward-looking statements and undertakes no responsibility to update any such statement after the date of this press release to conform to actual results or to changes in expectations. View original content: https://www.prnewswire.com/news-releases/hennessy-advisors-inc-reports-46-increase-in-annual-earnings-per-share-302329179.html SOURCE Hennessy Advisors, Inc.
Technology entrepreneur Elon Musk has caused uproar after backing Germany’s far-right party in a major newspaper ahead of key parliamentary elections in the Western European country, leading to the resignation of the paper’s opinion editor in protest. Germany is to vote in an early election on February 23 after Chancellor Olaf Scholz’s three-party governing coalition collapsed last month in a dispute over how to revitalise the country’s stagnant economy. Mr Musk’s guest opinion piece for Welt am Sonntag – a sister publication of Politico owned by the Axel Springer Group – published in German over the weekend, was the second time this month that he has supported the Alternative for Germany, or AfD. “The Alternative for Germany (AfD) is the last spark of hope for this country,” he wrote in his translated commentary. He went on to say that the far-right party “can lead the country into a future where economic prosperity, cultural integrity and technological innovation are not just wishes, but reality”. The Tesla Motors chief executive also wrote that his investment in Germany gives him the right to comment on the country’s condition. The AfD is polling strongly, but its candidate for the top job, Alice Weidel, has no realistic chance of becoming chancellor because other parties refuse to work with the far-right party. Billionaire Mr Musk, an ally of US President-elect Donald Trump, challenged in his opinion piece the party’s public image. “The portrayal of the AfD as right-wing extremist is clearly false, considering that Alice Weidel, the party’s leader, has a same-sex partner from Sri Lanka! Does that sound like Hitler to you? Please!” Mr Musk’s commentary has led to a debate in German media over the boundaries of free speech, with the paper’s own opinion editor announcing her resignation, pointedly on Mr Musk’s social media platform, X. Eva Marie Kogel wrote: “I always enjoyed leading the opinion section of WELT and WAMS. Today an article by Elon Musk appeared in Welt am Sonntag. I handed in my resignation yesterday after it went to print.” A critical article by the future editor-in-chief of the Welt group, Jan Philipp Burgard, accompanied Mr Musk’s opinion piece. “Musk’s diagnosis is correct, but his therapeutic approach, that only the AfD can save Germany, is fatally wrong,” he wrote. Responding to a request for comment from the German Press Agency, dpa, the current editor-in-chief of the Welt group, Ulf Poschardt, and Mr Burgard – who is due to take over on January 1 – said in a joint statement that the discussion over Mr Musk’s piece was “very insightful. Democracy and journalism thrive on freedom of expression.” “This will continue to determine the compass of the ‘world’ in the future. We will develop ‘Die Welt’ even more decisively as a forum for such debates,” they wrote to dpa.A huge redevelopment of the former ITV Studios building on the South Bank has finally got the go-ahead following a High Court battle. The High Court has ruled in favour of former Housing Secretary Michael Gove’s decision to transform the landmark, where shows such as Good Morning Britain and The Graham Norton Show used to be made before the studios were closed in 2018. Campaign group Save Our Southbank launched a judicial review against the decision and the case reached the High Court in October. The group previously argued the redevelopment, which it labelled the Slab, would be “ugly, overbearing and overly dominant for its prominent position on South Bank”. The High Court ruling now clears the way for developers Mitsubishi Estate London and CO—RE to demolish the 24-storey tower at the site, where Ant & Dec’s Saturday Night Takeaway and The Jonathan Ross Show also used to be made. The 50-year-old landmark was also known as the South Bank Studios and the LWT Tower and when it was finished in 1974 was the most technologically advanced television centre in Europe. The building at 72 Upper Ground will be replaced by a 25-storey office building connected to two buildings of 14 and six storeys, including rehearsal space, gallery and presentation spaces and studios, as well as cafes and restaurants facing the Thames. The proposal first received planning approval from Lambeth Council in March 2022. But it was called in by the Government and a public inquiry opened in December 2022. In a joint statement by Shinichi Kagitomi Chief Executive of Mitsubishi Estate London and Stephen Black, Director at CO—RE: “We welcome Justice Mould’s judgement. “At every stage of the planning process, our transformational plans for 72 Upper Ground have had the backing of senior politicians and independent experts including Lambeth Council and its planning officers, the GLA, DLUHC and the planning inspector. “We are looking forward to delivering an outstanding building that makes a significant positive contribution to the South Bank.” Following the decision, Michael Ball from Save Our South Bank said: “This judgement is a huge disappointment for anyone who loves the river and South Bank. “It supports Michael Gove’s wayward approval of a building about which he had great misgivings and acknowledged would harm a string of buildings of national prominence. “The decision reveals planning protections are flawed and have failed: the site is designated for housing, and could provide over 200 homes, but there is no housing, despite buildings which lend themselves to conversion; the demolition and development will generate huge amounts of carbon, which is completely unnecessary; the Queen’s Walk is not designated for tall buildings but will now get one; and a string of buildings of national prominence will not protected from harm.” “This will be a devastating decision for the community and we are considering our options carefully,” he added.
Hyderabad: Chief minister A Revanth Reddy has disclosed that Rs 22,606 crore out of the Rs 72,816 crore was disbursed into the accounts of ineligible persons through Rythu Bandhu scheme for lands not under cultivation during the the BRS government. Speaking in the Legislative Assembly during a Short Discussion on the support scheme for farmers on Saturday, December 21, citing an estimate he said, Rs 22,600 crore had been credited to the lands that were not under cultivation. He said that many of these funds were given to lands associated with mining leases, national highways, granite crushing units, farmhouses, real estate layouts, industries, hilly mounds, and those converted for commercial purposes. “Does the Opposition want us to continue the same mistakes,” CM Revanth asked. CM Revanth claimed that fake pattadar passbooks were issued for podu lands, with non-tribal individuals cultivating those lands, while 70-80% of the land within a 50 km radius of Hyderabad remained uncultivated. “I would prefer to use that money to provide bonuses for all crops and increase input assistance for farmers in the future. Our goal is to reach the poorest individuals in the last mile,” he said. CM Revanth said the government is ready to take constructive and specific suggestions from the Opposition parties on the implementation of the Rythu Bandhu scheme. “The BRS government used to provide Rs 5,000 per acre per season under the ‘Rythu Bandhu’ scheme. The Congress government has deposited Rs 7,625 crores in farmers’ accounts after it assumed office an year ago,” the chief minister said. Discussing the state’s farm loan waiver of Rs 2 lakh, which benefited 25,35,963 farmers with a total of Rs 20,616.89 crore in loans forgiven, he stated that the waiver was implemented as a top priority. CM Revanth emphasized that had it been delayed by five years, the interest on those loans could have escalated to Rs 50,000 crore. “For them (Opposition), everything is transactional for give and take, but for us farm loan waiver is an emotion. We wanted to save the farmers from that interest which increased multi-fold,” he said. CM Revanth highlighted that during the “one family” rule over 9.5 years, the state accumulated debts totalling Rs 6,40,000 crore. “As of December 7, 2023, the total outstanding loans, including guaranteed and non-guaranteed debts and unpaid bills, amounted to Rs 7,11,911 crore,” he said. CM Revanth noted that these loans were taken at an interest rate of 11.5 percent, while the BRS government had reduced the state’s liability by securing loans with interest rates as low as 5 percent, 25 percent, or 50 percent, with the rest to be paid by the public. He said that the BRS government had not only reported these deflated numbers to the Reserve Bank of India (RBI) but its leaders were now showing the same numbers to misguide the House. CPI secretary and Kothagudem MLA Kunamneni Sambasiva Rao stated that 45 lakh acres of the 1,60,000 acres of cultivable land in Telangana are uncultivated but still receive Rythu Bandhu benefits. He suggested extending Rythu Bharosa assistance to farmers with up to 15 acres of land, as only 7 lakh acres fall under the category of farmers owning more than 15 acres. He also urged the state government to implement the MS Swaminathan Commission’s recommendations on minimum support price (MSP) and extend Rythu Bharosa to tenant farmers by providing them loan eligibility cards. Regarding farmer suicides, he pointed out that NCRB data shows 7,000 farmer suicides in Telangana over the last 10 years, with an average of 640 suicides per year. He also requested the state government to implement the Koneru Ranga Rao Commission’s recommendations for tenant farmers. Sambasiva Rao recalled that government subsidies for horticulture, micro-irrigation, loan interest, and various inputs had been discontinued. In 2009, subsidies for agriculture were Rs 1,19,000 crore, but now they are only Rs 5,000 to Rs 6,000 crore. He compared this to Japan’s 90 percent, the US’s 80 percent, Colombia’s 61 percent, and China’s 37 percent spending on agricultural subsidies, while India spends just 3 percent. State agriculture minister Thummala Nageswara Rao assured that the state government would disburse the Rythu Bharosa amount after Sankranthi and that Rs 1,100 crore has been deposited as a premium for Rythu Bima. He also promised that crop insurance would be implemented before the next kharif season.
Lindsey Vonn competes in a pair of downhills, another step on her comeback trail at the age of 40If you want to get the biggest possible Social Security benefit, you have to wait until age 70, and personal finance experts do often recommend waiting until that age to claim. Several studies suggest that's the age when the average retiree will maximize their lifetime benefit from the program. However, delaying until age 70 comes with serious downsides too, and it doesn't make sense for everyone to wait that long. Here's the unfortunate truth about claiming Social Security at age 70. You're taking a risk As mentioned, studies show the average retiree will collect more in Social Security benefits over their lifetime if they delay until age 70. While they'll forego benefit checks in their sixties, the larger amount they'll receive in their 70s and beyond will eventually catch up and overtake the amount they'd receive from claiming early. But the person waiting to claim at age 70 must live into their 80s before their cumulative benefits overtake what they would have received from the program by claiming earlier. But you're probably not average. You might live longer than average; you might live shorter. There's no way to know for certain, but you can make a good guess. If you have reason to suspect you'll live a shorter-than-average life due to family history, personal health issues, or other reasons, it might be wise to claim benefits earlier rather than waiting. You may leave less for your heirs While you might maximize your lifetime income from Social Security by waiting until age 70, you could end up with less wealth to pass onto your heirs. Unlike your investment accounts and retirement savings, Social Security benefits don't pass on to your next of kin. If you wait to start collecting Social Security until age 70, you may have to draw down your retirement accounts faster in your 60s. That puts a lot of pressure on your accounts to perform well for those few years while you're taking larger withdrawals. A poor sequence of returns could leave your retirement balances substantially lower, if not depleted, by the time the years of good returns show up. At that point, you'll be able to get by with the help of Social Security, but you might not have a whole lot left to give to your loved ones. Again, it all comes down to risk. There are ways to mitigate that risk in your portfolio with smart asset allocation , but it comes at the cost of expected returns. Waiting until age 70 and using appropriate asset allocation in your 60s should lead to higher and more stable overall cash flow during retirement, but it can come with the cost of leaving less for your heirs (on average). You may have other factors to consider A couple can often increase their total expected lifetime benefits if the lower-earning partner claims well before age 70. That's because Social Security offers special benefits for couples. The first one to consider is spousal benefits , which offer the lower-earning spouse the right to receive up to one-half of the amount the higher-earning spouse would receive at their full retirement age. That could be more than what they'd receive based on their own earnings record. But unlike personal benefits, spousal benefits max out at full retirement age , or between 66 and 67. The second one to consider is survivor benefits. These allow a widow or widower to receive the same amount in benefits that their partner was receiving before their passing. Thus, couples need to consider their joint life expectancies when deciding when to claim for the higher-earning spouse. This often tilts the odds even more heavily toward waiting until age 70 for the higher-earning spouse. On the other hand, the lower-earning spouse can claim much earlier, perhaps even at age 62 since their Social Security income will have less of an impact on the couple's joint lifetime benefits. The math gets a lot more complicated when discussing Social Security claiming strategies for couples. It may be worth sitting down with a professional to discuss your options and how they could impact the financial factors you value you most -- whether it's maximizing Social Security, leaving more to your heirs, or making sure your income in retirement remains as stable as possible. Waiting until age 70 isn't always the right answer.Watch the moment Irish Premier Simon Harris was re-elected to the Dáil, securing his position as a Teachta Dála (TD) for Wicklow on the first count. (30 November 2024) The Taoiseach ’s successful re-election was joined by his wife, Caoimhe, his parents, sister Gemma, and his political team at the count centre in Greystones, County Wicklow.