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Police say suspect in UnitedHealthcare CEO killing wasn't a client of the insurerAround three e-libraries have been established in the Gurugram, Manesar, and Bhondsi police lines at a total cost of ₹ 1.5 crore, aimed at enhancing the educational and professional development of police personnel and their families, said police officials. Shatrujeet Kapur, Haryana’s director general of police (DGP), inaugurated the libraries on Saturday, which were developed under the supervision of Vikas Kumar Arora, Gurugram commissioner of police. “These libraries are a step towards ensuring the personal and professional growth of our personnel and their loved ones. In today’s world, digital literacy is essential, and this library offers the tools and resources necessary to excel,” DGP Kapur said. The libraries, exclusively open to police personnel and their families, will feature facilities, including foreign language learning centres offering Spanish, French, Japanese, and English through online instructors, smart boards, and e-book readers with access to around 15 million e-books, officials said. Each library can accommodate 50 users at a time and will operate from 8am to midnight, officials said. The initiative, funded through the corporate social responsibility (CSR) arm of Elan Group, aims to empower families of police personnel. Akash Kapur, Director of Elan Group, said: “This library symbolises our vision of empowering law enforcement and their families with resources that open doors to growth and success.” Meanwhile, DGP Kapur noted that similar libraries have been established in 18 police lines across Haryana, with seven more under construction. “These libraries are equipped with resources catering to competitive exams, higher education, and literature, making them accessible and beneficial for police families,” he added.Premium portfolios to serve neat margin gains for liquor companies
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( MENAFN - IANS) Seoul, Dec 13 (IANS) South Korean tech giant Samsung Electronics said on Friday it will launch an "extended reality" (XR) headset jointly developed with Alphabet's google and Qualcomm in global markets next year. The extended reality headset is part of wearable devices to be powered by the new version of Google's Android software -- called Android XR -- developed in tandem with Samsung. "The XR headset product will arrive in global markets sometime next year. No further details are available about the product for now," a company spokesperson said over the phone, reports Yonhap news agency. Extended Reality is a blanket term that refers to a range of virtual-, augmented- and mixed-reality technologies. The new headset, code-named Project Moohan, taken from the Korean word for "infinity," will have Google's Gemini chatbot built into its core, allowing users to control their apps with conversational commands and physical gestures. The Samsung headset is equipped with Qualcomm's XR2 Gen 2 chip for mixed-reality devices. Shahram Izadi, Google's vice president of XR, said Android XR has been developed as an open and integrated platform for headsets and smart glasses with screens embedded in their lenses. Google's smart glasses, built on Android XR, are also set to be launched, though the exact timeframe has yet to be decided. Google's new operating system and the Samsung-built headset are expected to challenge Apple's Vision Pro headset and Meta Platforms' smart glasses and virtual reality headsets. Meanwhile, Samsung Chairman Lee Jae-yong expressed his commitment to joining the international community's efforts for safe, innovative and inclusive artificial intelligence (AI) technology at a global summit, the company said. "Beyond impacting industrial innovation and economic growth, AI is fundamentally changing the way we live, work and interact with the world," Lee said in a video conference during the leaders' session of the AI Seoul Summit the previous day, according to Samsung. -IANS na/ MENAFN12122024000231011071ID1108988682 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Kings’ slumbering offense needs a jolt against SeattleHow often have we heard the age-old investing motto, ‘If you want to earn higher returns, you must take higher risk’? Probably a lot. However, there is clear evidence that this theory is wrong. You can earn high returns by taking low risk — the exact opposite of what is commonly believed. To understand why the high-risk high-return theory is wrong, we need to take a small detour to its origin. In 1964, William Sharpe developed the Capital Asset Pricing Model (CAPM), building on the earlier work done by Harry Markowitz. As per CAPM, the expected return from a stock is dependent on its beta, where beta measures the stock’s sensitivity to the overall stock market. CAPM proposed that the return from a stock is dependent on one factor alone – its beta. Higher the beta — higher the sensitivity or volatility of the stock — higher will be its expected return. This model provided the perfect foundation for the high-risk high-return idea. It predicted that high beta stocks, which are risky due to their higher volatility, will earn higher returns. The advent of CAPM led to an outburst of research confirming its findings. But there were also occasional studies which presented counterviews. One of the earliest studies to doubt the findings of CAPM was published in 1972 by Robert Haugen and James Heins. This study concluded that there was actually very little evidence that investing in risky stocks is rewarded with higher return. Such studies, which contradicted CAPM, were mostly ignored. However, a seminal paper by Eugene Fama and Kenneth French, published in 1992, dealt a fatal blow to CAPM. In this paper, the authors introduced the Fama-French Three Factor Model, which dethroned beta as the only factor that explains stock returns and added two more factors — the value factor and the size factor. The 1992 paper by Fama-French opened the floodgates for research on what other factors influenced stock returns. In the quest for uncovering new factors, researchers noticed a surprising paradox — low-volatility stocks were exhibiting superior return performance, the exact opposite of what we would expect. The most comprehensive evidence on the low-volatility paradox has been compiled by Pim van Vliet, Head of Conservative Equities at Robeco Quantitative Investments, and a global authority on low-volatility investing. Going all the way back to 1929, Pim compiled a low-volatility portfolio and a high-volatility portfolio. The difference in returns between the two portfolios is astonishing. An amount of $100 invested in 1929 in the low-volatility portfolio grew close to $10 million by the end of 2023. A similar amount invested in the high-volatility portfolio grew to only about $33,000. The difference is staggering. Low volatility delivered a CAGR of 10 per cent, while high volatility barely delivered a 6.5 per cent CAGR. Other researchers have observed the low-volatility paradox in different geographies and different asset classes. A prominent study, “Betting Against Beta”, published in 2011, found this effect in “18 of 19 international equity markets, in Treasury markets, for corporate bonds sorted by maturity and by rating, and in futures markets.” We have evidence of low-volatility paradox in India as well. For our purpose, I have selected two indices — Nifty 100 Low Volatility 30 and Nifty High Beta 50. The Low Vol 30 index selects 30 stocks from the Nifty 100 universe displaying the lowest volatility, while the Beta 50 index selects 50 stocks from the Nifty 100 universe with the highest beta. These indices provide a very good head-to-head competition between low-risk and high-risk investing. The gap between Low Vol 30 and Beta 50 is, again, astonishing. Low Vol 30 delivered 17 per cent CAGR over close to a 20-year period, beating Beta 50’s 6.3 per cent CAGR. There are several reasons why, despite the evidence, low-volatility investing remains obscure. The most important reason has to do with investor behaviour. Paul Samelson, who inspired John Bogle to create index funds, had remarked, “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” Low-volatility investing is like watching paint dry or watching grass grow — not an easy thing to do. Imagine holding on to a bunch of boring stocks that don’t move much on a daily basis, while your friends could be investing in volatile stocks that promises to be the next big thing. Research suggests that most investors view their investments as a lottery. We invest not to benefit from the slow grind of long-term compounding, but to earn outsized returns in the short term. You must have heard of the hare and tortoise story in your childhood. Unfortunately, as investors, we behave more like the hare rather than the tortoise. Low-volatility investing is for the tortoises amongst us – and yes, as data show, they do win the race! The writer is a SEBI Registered Investment Adviser (RIA) and Co-founder of www.samasthiti.in Comments
Dana Hull | (TNS) Bloomberg News Jared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. Related Articles National Politics | Biden will decide on US Steel acquisition after influential panel fails to reach consensus National Politics | Biden vetoes once-bipartisan effort to add 66 federal judgeships, citing ‘hurried’ House action National Politics | An analyst looks ahead to how the US economy might fare under Trump National Politics | Trump again calls to buy Greenland after eyeing Canada and the Panama Canal National Politics | House Ethics Committee accuses Gaetz of ‘regularly’ paying for sex, including with 17-year-old girl But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “childcare deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot (46,000-square-meter) facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the last five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Political Moves Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it also had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s cross hairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of five. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Tuition Costs Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said that “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.” With assistance from Sophie Alexander and Kara Carlson. ©2024 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency, LLC.
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BETHLEHEM, West Bank (AP) — Bethlehem marked another somber Christmas Eve on Tuesday in the traditional birthplace of Jesus under the shadow of war in Gaza . The excitement and cheer that typically descends on the West Bank during Christmas week were nowhere to be found. The festive lights and giant tree that normally decorate Manger Square were missing, as were the throngs of foreign tourists that usually fill the square. Palestinian scouts marched silently through the streets, a departure from their usual raucous brass marching band. Security forces arranged barriers near the Church of the Nativity, built atop the spot where Jesus is believed to have been born. The cancellation of Christmas festivities is a severe blow to the town's economy. Tourism accounts for an estimated 70% of Bethlehem’s income — almost all from the Christmas season. Salman said unemployment is hovering around 50% — higher than the 30% unemployment across the rest of the West Bank, according to the Palestinian Finance Ministry. Latin Patriarch Pierbattista Pizzaballa, the top Roman Catholic cleric in the Holy Land, noted the shuttered shops and empty streets and expressed hope that next year would be better. “This has to be the last Christmas that is so sad,” he told hundreds of people gathered in Manger Square, where normally tens of thousands would congregate. Pizzaballa held a special pre-Christmas Mass in the Church of the Holy Family in Gaza City. Several Palestinian Christians told the Associated Press that they have been displaced in the church since the war began in October of last year with barely enough food and water. “We hope by next year at the same day we’d be able to celebrate Christmas at our homes and go to Bethlehem,” said Najla Tarazi, a displaced woman. “We hope to celebrate in Jerusalem ... and for the war to end. This is the most important thing for us and the most important demand we have these days because the situation is really hard. We don’t feel happy.” Bethlehem is an important center in the history of Christianity, but Christians make up only a small percentage of the roughly 14 million people spread across the Holy Land. There are about 182,000 in Israel, 50,000 in the West Bank and Jerusalem and 1,300 in Gaza, according to the U.S. State Department. The number of visitors to the town plunged from a pre-COVID high of around 2 million per year in 2019 to fewer than 100,000 in 2024, said Jiries Qumsiyeh, the spokesperson for the Palestinian Tourism Ministry. After nightfall, the golden walls of the Church of the Nativity were illuminated as a few dozen people quietly milled about. A young boy stood holding a pile of balloons for sale, but gave up because there were no customers to buy them. The war in Gaza has deterred tourists and has prompted a surge of violence in the West Bank , with more than 800 Palestinians killed by Israeli fire and dozens of Israelis killed in militant attacks. Palestinian officials do not provide a breakdown of how many of the deceased are civilians and how many are fighters. Since the deadly Oct. 7, 2023, Hamas attack that sparked the war , access to and from Bethlehem and other towns in the West Bank has been difficult, with long lines of motorists waiting to pass through Israeli military checkpoints. The restrictions have prevented some 150,000 Palestinians from leaving the territory to work in Israel, causing the economy there to contract by 25%. In the Oct. 7 assault on southern Israel, Hamas-led militants killed about 1,200 people, most of them civilians, and took more than 250 Israeli hostages. Israeli officials believe that around 100 hostages remain in captivity in the Gaza Strip. Elsewhere, Christmas celebrations were also subdued. Syrians protest after Christmas tree burned Scores of Syrian Christians protested Tuesday in Damascus, demanding protection after the burning of a Christmas tree in Hama the day before. Videos and images shared on social media showed the large, decorated tree burning at a roundabout in Suqalabiyah, a town in the Hama countryside. It remains unclear who was responsible for setting the tree on fire. In a video that circulated on social media, a representative of Syria’s new leadership, Hay’at Tahrir al-Sham, could be seen visiting the site and addressing the community. He said: “This act was committed by people who are not Syrian, and they will be punished beyond your expectations.” Germans mourn after Christmas market attack German celebrations were darkened by a car attack on a Christmas market on Friday that left five people dead and 200 people injured. President Frank-Walter Steinmeier rewrote his annual recorded Christmas Day speech to address the attack. He plans to acknowledge that “there is grief, pain, horror and incomprehension over what took place in Magdeburg,” while urging Germans to “stand together,” according to an early copy of the speech. Heavy snow hits the Balkans A snowstorm in the Balkans stranded drivers and downed power lines, but some saw the beauty in it. “I’m actually glad its falling, especially because of Christmas,” said Mirsad Jasarevic in Zenica, Bosnia. “We did not have snow for Christmas for 17 years here, and now is the time for wonderful white Christmas.” Planes grounded in the United States American Airlines briefly grounded flights across the U.S. on Tuesday due to a technical problem just as the Christmas travel season kicked into overdrive. Winter weather threatened more potential problems for those planning to fly or drive. Meanwhile, the flight-tracking site FlightAware reported that 1,447 flights entering or leaving the U.S., or serving domestic destinations, were delayed Tuesday, with 28 flights canceled. Spanish ministries bring seafarers holiday cheer In the port of Barcelona, Spain, volunteers from the faith-based ministry Stella Maris visited seven ships docked there on Christmas Eve to deliver Nativity scenes and the local specialty of turrón (nougat candy) to seafarers. The volunteers met seafarers from India, the Philippines, Turkey and elsewhere, said Ricard Rodríguez-Martos, a Catholic deacon and former merchant marine captain who leads Stella Maris in this major Mediterranean harbor. Associated Press writers Wafaa Shurafa in Deir al Balah, Gaza Strip, Melanie Lidman in Tel Aviv, Hannah Schoenbaum in Salt Lake City and Giovanna Dell’Orto in Minneapolis contributed to this report.
The Washington Capitals visit the Tampa Bay Lightning on Wednesday, November 27 after Lars Eller scored two goals in the Capitals' 4-1 win against the Florida Panthers. The game is scheduled to start at 7:30 p.m. ET and will be broadcast on TNT. Fans looking to watch this NHL game can do so for free by using DirecTV Stream , which offers a free trial or with SlingTV , which doesn’t offer a free trial but has promotional offers available. Max has plans starting at just $9.99/month and includes movies, original series and more. Wednesday’s game is the second time these teams square off this season. The Lightning won the last matchup 3-0. Jake Guentzel scored two goals in the win. Tampa Bay has a 7-2-1 record at home and an 11-7-2 record overall. The Lightning have gone 11-3-1 when scoring at least three goals. Washington is 14-6-1 overall and 7-2-0 in road games. The Capitals have gone 5-2-0 when they serve fewer penalty minutes than their opponent. Who: Washington Capitals vs. Tampa Bay Lightning When : Wednesday, November 27 at 7:30 p.m. ET Where : Tampa, FL Stream : Sling ; DirecTV Stream ; MAX Betting: Check out our MA sports betting guide , where you can learn basic terminology, definitions and how to read odds for those interested in learning how to bet in Massachusetts. DirecTV Stream is an internet TV service that offers your favorite entertainment, news and sports channels, as well as local TV stations and regional sports networks . DirecTV Stream can be purchased for $79.98/month for your first two months when you sign up for the ENTERTAINMENT package and add DIRECTV Sports Pack. Here’s what you can watch on Sling TV, with plans starting at $40 : Baseball (MLB), Basketball (NBA, NCAAB), Combat Sports (Boxing, UFC, MMA), Football (NCAAF, NFL), Golf, Hockey, Motorsports, Olympics, Soccer, Tennis and Wrestling. MAX offers a wide variety of content from Warner Bros. Discovery, including movies, shows, documentaries, and live sports. Plans start at $9.99 a month. The Associated Press contributed to this article.Qatar's Ministryof Foreign Affairs has issued a joint statement prepared incollaboration with Russia, Iran, Turkey, and five Arab nationsaddressing the ongoing crisis in Syria, reports. The statement was shared on the ministry's official account onthe social media platform "X". In the document, the participating parties affirmed theircommitment to resolving the Syrian crisis solely through politicalmeans.
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