WASHINGTON (AP) — The House on Wednesday passed a $895 billion measure that authorizes a 1% increase in defense spending this fiscal year and would give a double-digit pay raise to about half of the enlisted service members in the military. The bill is traditionally strongly bipartisan, but some Democratic lawmakers opposed the inclusion of a ban on transgender medical treatments for children of military members if such treatment could result in sterilization. The bill passed the House by a vote of 281-140 and will next move to the Senate, where lawmakers had sought a bigger boost in defense spending than the current measure allows. Lawmakers are touting the bill's 14.5% pay raise for junior enlisted service members and a 4.5% increase for others as key to improving the quality of life for those serving in the U.S. military. Those serving as junior enlisted personnel are in pay grades that generally track with their first enlistment term. Lawmakers said service member pay has failed to remain competitive with the private sector, forcing many military families to rely on food banks and government assistance programs to put food on the table. The bill also provides significant new resources for child care and housing. “No service member should have to live in squalid conditions and no military family should have to rely on food stamps to feed their children, but that's exactly what many of our service members are experiencing, especially the junior enlisted,” said Rep. Mike Rogers, R-Ala., chairman of the House Armed Services Committee. “This bill goes a long way to fixing that.” The bill sets key Pentagon policy that lawmakers will attempt to fund through a follow-up appropriations bill. The overall spending tracks the numbers established in a 2023 agreement that then-Speaker Kevin McCarthy reached with President Joe Biden to increase the nation’s borrowing authority and avoid a federal default in exchange for spending restraints. Many senators had wanted to increase defense spending some $25 billion above what was called for in that agreement, but those efforts failed. Sen. Roger Wicker, R-Miss., who is expected to serve as the next chairman of the Senate Armed Services Committee, said the overall spending level was a “tremendous loss for our national defense," though he agreed with many provisions within the bill. “We need to make a generational investment to deter the Axis of Aggressors. I will not cease work with my congressional colleagues, the Trump administration, and others until we achieve it,” Wicker said. House Republicans don't want to go above the McCarthy-Biden agreement for defense spending and are looking to go way below it for many non-defense programs. They are also focused on cultural issues. The bill prohibits funding for teaching critical race theory in the military and prohibits TRICARE health plans from covering gender dysphoria treatment for children under 18 if that treatment could result in sterilization. Rep. Adam Smith of Washington state, the ranking Democratic member of the House Armed Services Committee, said minors dealing with gender dysphoria is a "very real problem." He said the treatments available, including puberty blockers and hormone therapy, have proven effective at helping young people dealing with suicidal thoughts, anxiety and depression. “These treatments changed their lives and in many cases saved their lives,” Smith said. “And in this bill, we decided we're going to bar servicemembers' children from having access to that.” Smith said the number of minors in service member families receiving transgender medical care extends into the thousands. He could have supported a study asking medical experts to determine whether such treatments are too often used, but a ban on health insurance coverage went too far. He said Speaker Mike Johnson's office insisted upon the ban and said the provision “taints an otherwise excellent piece of legislation.” Rep. Chip Roy, R-Texas, called the ban a step in the right direction, saying, “I think these questions need to be pulled out of the debate of defense, so we can get back to the business of defending the United States of America without having to deal with social engineering debates.” Smith said he agrees with Roy that lawmakers should be focused on the military and not on cultural conflicts, “and yet, here it is in this bill.” Branden Marty, a Navy veteran who served for 13 years, said the loss of health coverage for transgender medical treatments could prompt some with valuable experience to leave the military, affecting national security because “we already struggle from a recruiting and retention standpoint.” He also said the bill could regularly force service members into difficult choices financially. “It will be tough for a lot of them because of out-of-pocket expenses, especially enlisted members who we know already struggle with food insecurity,” said Marty, the father of a transgender teenager. “They don’t get paid very much, so they’re going to be making a lot of choices on a day-to-day, tactical level.” Rep. Hakeem Jeffries, the House Democratic leader, said his team was not telling Democrats how to vote on the bill. “There's a lot of positive things in the National Defense Authorization Act that were negotiated in a bipartisan way, and there are some troubling provisions in a few areas as well,” Jeffries said. Overall, 81 Democrats ended up voting for the bill and 124 against it. On the Republican side, 200 voted for the bill and 16 against. “It’s disappointing to see 124 of my Democrat colleagues vote against our brave men and women in uniform over policies that have nothing to do with their intended mission,” Johnson said. The defense policy bill also looks to strengthen deterrence against China. It calls for investing $15.6 billion to build military capabilities in the Indo-Pacific region. The Biden administration had requested about $10 billion. On Israel, the bill, among other things, includes an expansion of U.S. joint military exercises with Israel and a prohibition on the Pentagon citing casualty data from Hamas. The defense policy bill is one of the final measures that lawmakers view as a must-pass before making way for a new Congress in January.Eddid Financial Collaborates Again With SOAS For 10Th Anniversary International Bursary To Support Global Education
How nostalgia led to the invention of the first Christmas card
As in 2023, investors were once again captivated by the potential of artificial intelligence (AI) in 2024. But not every stock has benefited. Sure, Nvidia and Broadcom have had great years, but not every AI beneficiary was as fortunate. Why would that be? For one, many traders look at results in the here and now. So, if a company had a near-term slip-up or a slowdown, their stocks were likely punished -- even if AI should provide a long-term tailwind for their business. The following three examples were laggards in 2024, but looking ahead to 2025, they appear to be excellent pickups on the dips . ASML Holdings There would be no AI semiconductors at all without the extreme ultraviolet lithography (EUV) tools provided by ASML Holdings ( ASML -0.65% ) , which has a monopoly on this crucial chipmaking technology. In that light, why would ASML's stock be down about 4% on the year and 35% from all-time highs? The market appears to be honing in on a few short-term concerns. The first is China, where ASML has seen a surge of older and less-sophisticated deep ultraviolet lithography (DUV) sales in recent years, ahead of more stringent restrictions placed on equipment from China this year. Although ASML will continue selling to China, they will no longer be able to sell or service several types of machines, so that pull-in of China sales this year could lead to ASML's China revenue declining next year. In addition, while the AI market is booming, larger, mature chip markets, like smartphones and PCs, have continued to languish for longer than expected in their post-pandemic lull. That recently led some foundries to pull back a bit on their near-term spending plans. However, ASML still projects growth next year, even if it's lower than previously expected. More importantly, at the company's recent investor day, management kept its 2030 revenue and earnings targets intact. Advanced chip production will now require more EUV machines versus DUV machines, and EUV machines are higher-revenue and higher-margin for ASML. Even better, ASML's higher-priced high numerical aperture (NA) EUV machines, which go for about twice the price of the low-NA EUV machines in use today, have just started selling this year. The growth and increasing mix of advanced EUV machines should lead to margin expansion, fueling solid profit growth through this decade at least. With the long-term picture intact and ASML's competitive position nearly assured, long-term investors should buy this dip with both hands. MongoDB Artificial intelligence applications will have to reference lots of data and make sense of it all incredibly quickly, which will put a lot of importance on how that data is stored in a database. MongoDB ( MDB 0.26% ) has a disruptive architecture for databases, called a document architecture, which allows for more intuitive organization of unstructured data than the traditional SQL (structured query language) database, which stores data in a more restrictive row-and-column format. If one thinks about the kinds of data relationships AI agents will have to retrieve and make sense of, MongoDB's document databases look increasingly better. Not only that, AI has recently made it much easier for enterprises to migrate legacy applications from traditional databases to MongoDB. To date, that has been a complex process leading to customer friction. Despite these positives, MongoDB's stock is down 35% year to date and more than 50% below its all-time high. Why would that be? According to management, the uncertain macro environment and companies figuring out what to do with AI have caused a slowdown in MongoDB Atlas usage. Basically, while companies are experimenting and learning about AI's potential, very few "killer app" AI software applications have caught on as of yet. However, as AI improves and companies increasingly figure out how to deploy AI applications, AI app usage should take off. As a majority of MongoDB's revenue comes from its usage-based Atlas database-as-a-service, MongoDB will see the benefit in the building and usage of AI apps. However, we are not quite at that stage. CEO Dev Ittycheria noted on the recent conference call with analysts that while many AI apps don't yet have good product-market fit, some are beginning to, with Ittycheria highlighting one such app built on MongoDB that has grown 10 times over the course of the year. As the AI revolution moves from the infrastructure buildout to software applications, MongoDB should see an acceleration in usage. Trading near a historically low price-to-sales ratio of around 10, MongoDB could see a bounce-back year in 2025. On Semiconductor Most don't equate On Semiconductor ( ON 1.08% ) with AI, as its biggest business is in power chips for the automotive industry . Specifically, onsemi is the current leader in producing chips from silicon carbide (SiC), a material that's somewhat difficult to produce but is much more conductive and heat-resistant than traditional silicon. SiC is thought to be crucial for future electric vehicles (EVs), and given the big slowdown in the EV market, onsemi is down 20% on the year and 40% off its all-time highs. But with the extreme electricity demands of AI data centers and the latest AI chips generating tons of heat, silicon carbide is now making its way into power control systems for AI data centers, too. This year, onsemi unveiled its EliteSiC 650V MOSFET for AI data centers, and management has invested early to get behind this trend. While AI data centers are a small portion of onsemi's revenues today, look for that to get bigger over time. Meanwhile, onsemi doesn't just make power chips; it makes sensors, too, especially for intelligent sensing needed in advanced driver assistance systems (ADAS) for modern cars and trucks. And while 2024 was a down-cycle year for the auto industry overall, onsemi did land several large and important customer wins, including a huge multiyear deal with Volkswagen , the largest automaker in the world by revenue, and deals with Subaru and Denso , the world's second-largest auto systems supplier. At just 16.5 times bottom-of-the-cycle earnings, look for onsemi to outperform when the auto and EV markets recover and the company's chips make their way into more AI applications.
Congressional bicameral team pushes for insurance, pharmaceutical reformTLGY Acquisition Corporation (NASDAQ: TLGY) revealed in an 8-K filing a series of resignations and appointments within its leadership team. Effective immediately, the company received notices of resignation from Mr. Vikas Desai, the Chief Executive Officer (CEO) and a member of the board of directors, Mr. Merrick Friedman, the Chief Finance Officer (CFO), Mr. Donghyun Han, a director of the company, and Mr. Young Cho, a director who resigned as the Chairman of the Nominating and Corporate Governance Committee. The resignations were disclosed to have occurred without any disputes or disagreements with the company’s operations, policies, or practices. As a response to these developments, Mr. Young Cho has been designated as the new CEO, with Mdm. Christina Favilla and Mr. Niraj Javeri appointed as independent directors. The new officers and directors have each entered into an Indemnity Agreement with TLGY Acquisition Corporation, similar to agreements established with other officers and directors during the company’s initial public offering. The newly appointed leaders do not have familial relationships with existing management and have not entered into undisclosed arrangements related to their appointments. Furthermore, following these changes, the company has updated the membership of its standing committees. The audit committee consists of Niraj Javeri (Chairman), Enrique Klix, and Christina Favilla. The compensation committee includes Enrique Klix (Chairman), Niraj Javeri, and Christina Favilla. Lastly, the nominating and corporate governance committee comprises Christina Favilla (Chairman), Enrique Klix, and Niraj Javeri. The company has provided detailed biographical information about the new leadership and committee compositions in a bid to ensure a smooth transition and effective governance moving forward. As per the disclosure, the new appointments aim to enhance the strategic direction and operational efficiency of TLGY Acquisition Corporation. This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TLGY Acquisition’s 8K filing here . About TLGY Acquisition ( Get Free Report ) TLGY Acquisition Corporation does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. It intends to acquire companies in the biopharma or technology enabled business-to-consumer industries worldwide. Read MoreParticipation in the 9th World Oil and Gas Equipment Exhibition WOGE2024
Lara Trump will step down as co-chair of the Republican National Committee as she considers a number of potential options with her father-in-law, President-elect Donald Trump, set to return to the White House. Among those possibilities is replacing Florida Sen. Marco Rubio, whom Trump tapped to be the next secretary of state. If Rubio is confirmed, Florida Gov. Ron DeSantis will choose who takes the seat through the remainder of Rubio’s term, which expires in 2026. “It is something I would seriously consider,” she told The Associated Press in an interview. “If I’m being completely transparent, I don’t know exactly what that would look like. And I certainly want to get all of the information possible if that is something that’s real for me. But yeah, I would 100% consider it.” Elected as RNC co-chair in March, Lara Trump was a key player in the Republicans retaking the White House and control of the Senate while maintaining a narrow House majority. What she does next could shape Republican politics, given her elevated political profile and her ties to the incoming president. The idea of placing a Trump family member in the Senate has been lauded in some Republican circles. Among the people pushing for her to replace Rubio is Maye Musk, mother of Tesla and SpaceX CEO Elon Musk. Get the latest breaking news as it happens. By clicking Sign up, you agree to our privacy policy . “The Senate is an old man’s club. We desperately need a smart, young, outspoken woman who will reveal their secrets,” she posted on X. Lara Trump is 42. Elon Musk, who was with Lara Trump on election night at Trump’s Mar-a-Lago estate in Florida, responded to his mother’s post: “Lara Trump is genuinely great.” Eric and Lara Trump watch the second half of an NFL football game between the Miami Dolphins and the New England Patriots, Sunday, Nov. 24, 2024, in Miami Gardens, Fla. (AP Photo/Wilfredo Lee) Credit: AP/Wilfredo Lee Led by chairman Michael Whatley and Lara Trump, the RNC invested heavily in recruiting roughly 230,000 volunteers and an army of lawyers for what it called its “election integrity” effort, four years after Donald Trump lost his reelection bid to Democrat Joe Biden, citing false or unproven theories about voter fraud. Outside groups such as Turning Point Action and Musk’s America PAC took a greater responsibility for advertising and get-out-the-vote efforts. While Whatley will remain RNC chairman, Lara Trump said she felt she had accomplished her goals in the co-chair role. “With that big win, I kind of feel like my time is up,” she said. “What I intended to do has been done.” Lara Trump praised Musk’s new endeavor, the Department of Government Efficiency, or DOGE, a nongovernmental task force headed by Musk and and fellow entrepreneur Vivek Ramaswamy. They’ve been tapped to fire federal workers, cut programs and slash federal regulations as part of Trump’s “Save America” agenda for his second term. Republican National Committee co-chair Lara Trump speaks at a campaign rally with Republican presidential nominee former President Donald Trump at Van Andel Arena, Nov. 5, 2024, in Grand Rapids, Mich. Credit: AP/Evan Vucci “I really don’t think we’ve seen movement like this in our federal government since our country’s founding in many ways,” she said. “And I think if they are successful in what they plan to do, I think it is going to be transformative to America in a great way.” She said she expects a different presidency this time, beginning with the structure of the administration: While Trump’s daughter Ivanka and son-in-law Jared Kushner served as White House advisers in his last administration, Lara Trump said she doesn’t see any family member taking any position in the White House this time around with her father-in-law. “He really wants to get in there and do a good job for the four years, and that’s all he wants to serve,” she said. “Four years, and he’s out.” Lara Trump also says she expects the Republican Party to be more unified than it has ever been. When she became co-chair in May, the Trump campaign and the RNC merged, with staffers fired and positions restructured. She said the result could spell trouble for GOP lawmakers who do not agree with Trump’s agenda. “The whole party has totally shifted and totally changed,” she said. “I think people are feeling a little more bold in coming out with their political views.”
The Abu Dhabi Grand Prix stole the spotlightthis weekend, with VIP spectators for the final F1 race of the season. ArynaSabalenka and Jannik Sinner were among the most eye-catching, although severalother tennis stars made an appearance, and you'll be able to see them in a new Daily Dose of Social Media . Sabalenka shows her dance moves at Abu DhabiGrand Prix Aryna Sabalenka showcased her dancing talentduring the Abu Dhabi Grand Prix this weekend, grooving to the infectious rhythmof "The Ketchup Song" by Spanish pop sensation Las Ketchup. Dressedin Alpine F1 team gear, the Belarusian tennis star made a big impression withher moves on 8 December. The video amassed over 1.6 million views and drewreactions from her colleagues, including Ons Jabeur and Garbine Muguruza. In an Instagram Reel shared by the Alpine F1team, the 26-year-old tennis player was seen fully suited up in team attire,joyfully dancing to the catchy tune of "The Ketchup Song." After anenergetic performance, she removed her helmet and blew a playful kiss to thecamera, captivating viewers. The caption on the team’s social media read: “Lastrace vibes in Abu Dhabi Good to have you here@arynasabalenka ” Una publicación compartida de BWT Alpine Formula One Team (@alpinef1team) Sinner’s GP moment: Chequered flag duty in AbuDhabi Jannik Sinner was another star present at theAbu Dhabi Grand Prix, taking on a key role in the season’s final race by wavingthe chequered flag. The world No. 1, a well-known F1 fan, has often beenspotted at F1 events, and this time he was a special guest in the Ferrarigarage, reflecting his close friendship with driver Charles Leclerc. The thrilling 2024 season concluded with aspectacular race in Abu Dhabi, featuring a dominant victory. Lando Norrisclaimed the win in the UAE, securing the championship for McLaren, whileSpain’s Carlos Sainz bid farewell to Ferrari with a second-place finish. Norris clocked a time of 1:26:33.291, finishingahead of both Ferrari drivers, Carlos Sainz (+5.832) and Charles Leclerc(+31.928). Lewis Hamilton (+36.486) delivered an impressive comeback to securefourth place, marking his farewell to Mercedes after 13 years with the team. Hisnext stop: Ferrari. Jannik Sinner waving the flag for Lando Norris in Abu Dhabi at the Grand Prix. ️ pic.twitter.com/NfohkCePCk Jannik Sinner and Charles Leclerc ❤️ #AbuDhabiGP pic.twitter.com/M133cvA8MS Jannik Sinner wasn’t the only tennisstar at the event. Later, he met former WTA Finals champion Caroline Garcia ,who was also in attendance at the Grand Prix. The French player shared amessage for Sinner on her Instagram stories, wishing him luck for the upcomingseason: “As unstoppable as Verstappen. Good luck in 2025, Jannik. ” Other tennis stars spotted at theevent included Elena Rybakina , Sorana Cirstea , and Paula Badosa . “Living lifein the fast lane ️✨ Thrills, speed, and the roar of engines – F1, you’ve got my heart! ,” posted the Spanish former IndianWells champion, who also posed with her compatriot Fernando Alonso . She waseven surprised to discover that Grigor Dimitrov was also attending and snappeda photo of him from a distance. Jannik Sinner & Caroline Garcia together at the Abu Dhabi Grand Prix. “As unstoppable as Verstapen. Good luck in 2025 Jannik. ” (via @CaroGarcia ) pic.twitter.com/J050PoEogT “Living life in the fast lane ️✨ Thrills, speed, and the roar of engines – F1, you’ve got my heart! ” pic.twitter.com/c1BLZePI2N Track tour with Elena Rybakina #AbuDhabiGP elena / IG Stories pic.twitter.com/tIc0ppiQmo And Grigor pic.twitter.com/4KRKQWwTSs Simone Biles and Serena Williams share 'Goated conversations' Recently, Simone Biles met with Serena Williams at a Vogue and Female Quotient event aimed at supporting entrepreneurs andinspiring change. Their joint appearance brought a special star power to theevent, held in the Meatpacking District of Manhattan during Art Basel weekend. The two posed for some photos as two of themost outstanding female athletes in history. "Yesterday, I sat with thegoat @simonebiles at an EVENING OF IMPACTFUL CONVERSATION with @audemarspiguet,@vanityfair, @femalequotient, and a house full of women. I love to seeit," posted Serena Williams . Both have frequently expressed mutualadmiration for the careers they've built, and later Biles also shared somephotos with the 23-time Grand Slam champion. "Goated conversations ," Simone Biles posted, whileWilliams replied, "Love! ❤️" Una publicación compartida de Simone Biles (@simonebiles) Una publicación compartida de Serena Williams (@serenawilliams) Dustin Brown turns 40: A Tribute to the eccentric showman Dustin Brown turned 40 years old, and a videoby Tennis TV pays tribute to one of the most eccentric players to have gracedthe ATP Tour. The German/Jamaican is remembered for two huge victories over Rafael Nadal on grass: first when the Spaniard was world No. 1 at the 2014Halle Open, and then when he decisively defeated Nadal at Wimbledon in 2015. Beyond his memorable wins over the 22-timeGrand Slam champion, Brown was one of the greatest showmen on the Tour,regularly showcasing his talent that delighted fans with its flair, even thoughhis highest ranking was just world No. 64. Earlier this season, he announcedhis retirement after 22 years as a professional, due to a recurring lower backinjury. Check out the video below featuring some of Brown's greatesthighlights. Dustin Brown's EPIC highlight reel Join us in wishing @DreddyTennis a very happy 40th birthday pic.twitter.com/pNQ0uhiVuX From Miami to Rome: WTA remembers 2024’s home soilChampions A WTA video reminisced about all the home soilchampions of the season, both in singles and doubles. After the season ended,social media was used to recall moments when a local player lifted the trophyin front of their home crowd. Danielle Collins at the Miami Open, Camila Osorioin Bogotá, and Katie Boulter in Nottingham were some of the standout players in2024 who won titles in their home countries. In doubles, Barbora Krejcikova andKaterina Siniakova in Prague, or the Italians Jasmine Paolini and Sara Erraniin the Rome Open, also stood out. With the 2024 season wrapping up, there arestill a couple of weeks left for players to enjoy the off-season, some onvacation while others are already training with 2025 in mind. The season beginson December 29th with the United Cup in Australia, a joint tournament with maleplayers, featuring 18 teams competing. At the same time, the WTA 500 BrisbaneInternational and the WTA 250 Auckland Open will be held, marking the start ofthe new tennis year. Una publicación compartida de Women’s Tennis Association (@wta) Monfils accepts backflip challenge at UltimateTennis Showdown: Gael Monfils starred in a fun video where heaccepted the challenge from Maxence Bertimon, a 25-year-old French tennisplayer currently ranked world No. 792, who was his batting partner for the dayand has gained attention on social media as a content creator. While theUltimate Tennis Showdown was underway, with Monfils among the participants, hiscompatriot challenged him to perform a backflip. The former world No. 6, known for making bigjumps on court, admitted he wasn’t in top shape to do it perfectly. "Atthe time I would have replied... I have a little girl at home," he saidabout his daughter with former world No. 3 Elina Svitolina . "I haven’tdone it for a long time now. But you see, for me, it’s like that," hementioned before making a large forward jump, though supporting himself withone hand. Nevertheless, he managed to surprise his colleague and social mediafollowers. "I’m not there yet, you see, but it’s a short answer,"Monfils added. Una publicación compartida de UTS Tour (@u.t.s_tour) This article first appeared on TennisUpToDate.com and was syndicated with permission.The loading of power supply to a ship. In continuation of my previous column, this week I turn my focus the the pressing issue of carbon emissions — a cornerstone of sustainability efforts. Ports, as pivotal nodes in global trade and hubs of economic and logistical activity, are significant contributors to greenhouse gas (GHG) emissions, originating from various operational and supply chain activities. Understandably, the three primary categories of port emissions: Scope 1 (direct emissions), Scope 2 (indirect emissions from purchased energy), and Scope 3 (indirect emissions across the value chain). Scope 1 emissions, encompassing all direct greenhouse gas (GHG) emissions from sources owned or controlled by ports, represent a substantial component of their environmental footprint. These emissions arise from fuel combustion in port-owned vehicles, machinery and equipment, including diesel-powered cranes, forklifts, terminal tractors and harbor vessels. The primary challenges in managing Scope 1 emissions stem from heavy reliance on fossil fuels to power port operations and the high emissions generated by port-owned transport fleets. Mitigating these challenges requires the adoption of targeted strategies. One effective approach is fleet electrification, which involves transitioning diesel-powered vehicles and equipment to electric alternatives, such as electric forklifts, cranes, and cargo-handling machinery. This shift not only reduces emissions but also improves operational efficiency. In cases where full electrification is not yet practical, ports can explore cleaner fuel options, such as biodiesel or hydrogen. Additionally, optimizing equipment usage through improved scheduling and regular maintenance can further reduce fuel consumption and emissions. Another impactful measure is the implementation of onshore power supply (OPS) systems, which allow ships to connect to shore power while docked, significantly reducing emissions from auxiliary engines during their stay at port. Scope 2 emissions encompass indirect greenhouse gas (GHG) emissions generated from the production of purchased electricity, heat, or steam used by ports. These emissions are largely driven by electricity consumption for energy-intensive activities such as lighting, cooling and powering electrified systems. The main challenges include reliance on grid electricity, which is often sourced from fossil fuels, and the high energy demands of warehouses, terminals, and administrative buildings. Mitigation strategies for Scope 2 emissions focus on transitioning to renewable energy sources and improving energy efficiency. Ports can install solar panels on rooftops of warehouses and administrative buildings or on unused port land to produce clean, onsite energy. Upgrading to energy-efficient technologies, such as LED lighting, advanced HVAC systems, and smart building solutions, can significantly lower electricity usage. For ports where onsite renewable energy generation is not feasible, sourcing electricity from renewable energy providers ensures a cleaner energy mix. Additionally, integrating smart grid systems allows for real-time energy monitoring and optimization, enhancing efficiency and aligning consumption with sustainable practices. Scope 3 emissions, which include all other indirect emissions throughout the port’s value chain, present unique challenges due to their complexity and the limited control ports have over these activities. These emissions stem from various sources, such as equipment manufacturing, transportation by third-party logistics providers, and the carbon footprint of port users, including shipping companies. The variability and fragmented nature of supply chain emissions data further complicate efforts to manage them effectively. To mitigate Scope 3 emissions, ports can focus on fostering collaboration with stakeholders, including shipping lines, freight forwarders, and suppliers, to promote sustainable practices such as using energy-efficient ships and low-carbon fuels. Offering incentives for compliance can encourage the adoption of these greener measures. Sustainable procurement policies also play a crucial role by prioritizing suppliers with strong sustainability credentials and low-carbon production methods. Additionally, developing port infrastructure to support green shipping initiatives —such as LNG bunkering facilities and electric charging points for ships and vehicles — enables environmentally friendly operations. For emissions that cannot be avoided, ports can invest in verified carbon offset projects, such as reforestation or renewable energy initiatives, ensuring a balanced and comprehensive approach to managing their Scope 3 carbon footprint. An effective decarbonization strategy demands a comprehensive approach that embeds sustainability into the foundation of port operations. This involves setting clear and measurable sustainability targets, implementing transparent emissions reporting systems, encouraging innovation in green technologies and practices, and cultivating robust partnerships with stakeholders. The advantages of pursuing decarbonization extend beyond environmental benefits. They include ensuring regulatory compliance, boosting operational efficiency, strengthening stakeholder trust, and gaining a competitive edge in the industry. Malaysia’s dedication to reducing emissions reflects its alignment with global efforts to address climate change, particularly through its commitment to lowering carbon intensity under the Paris Agreement. This initiative plays a crucial role in safeguarding ecosystems, preserving air quality, and protecting marine life in Sabah and beyond. Globally, governments, including Malaysia, are enforcing stricter environmental regulations targeting ports and the shipping industry. Adopting a proactive stance on carbon management not only ensures regulatory compliance but also helps mitigate the risk of costly penalties. Decarbonizing ports is not merely an environmental responsibility; it is a strategic imperative for long-term success. By embracing renewable energy, optimizing operations, and fostering strong collaborations, ports can position themselves as leaders in environmental stewardship, shaping a sustainable and prosperous future for the global shipping industry.
Powell: Fed's independence from politics is vital to its interest rate decisions WASHINGTON (AP) — Chair Jerome Powell said the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or political outcome. Speaking at the New York Times’ DealBook summit, Powell addressed a question about President-elect Donald Trump’s numerous public criticisms of the Fed and of Powell himself. During the election campaign, Trump had insisted that as president, he should have a “say” in the Fed’s interest rate policies. Despite Trump’s comments, the Fed chair said he was confident of widespread support in Congress for maintaining the central bank’s independence. UnitedHealthcare CEO kept a low public profile. Then he was shot to death in New York NEW YORK (AP) — Brian Thompson led one of the biggest health insurers in the US but was unknown to the millions of people his decisions affected. The fatal shooting of UnitedHealthcare's chief executive on a midtown Manhattan sidewalk early Wednesday swiftly became a mystery that riveted the nation. Police say it was a targeted killing. Thompson was 50. He had run health care giant UnitedHealth Group Inc.'s insurance business since 2021. It provides health coverage for more than 49 million Americans. He had worked at the company for 20 years. The business run by Thompson brought in $281 billion in revenue last year. Thompson's $10.2 million annual compensation package made him one of the company’s highest-paid executives. Trump nominates cryptocurrency advocate Paul Atkins as SEC chair President-elect Donald Trump says he intends to nominate cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission. Atkins is the CEO of Patomak Partners and a former SEC commissioner. Trump calls Atkins a “proven leader for common sense regulations.” In the years since leaving the SEC, Atkins has made the case against too much market regulation. The SEC oversees U.S. securities markets and investments. If confirmed next year by the new Republican-led Senate, Atkins would replace Gary Gensler, who's been leading the U.S. government’s crackdown on the crypto industry. Atkins was widely considered the most conservative SEC member during his tenure and known to have a strong free-market bent. Australia is banning social media for people under 16. Could this work elsewhere — or even there? It is an ambitious social experiment of our moment in history. Experts say it could accomplish something that parents, schools and other governments have attempted with varying degrees of success — keeping kids off social media until they turn 16. Australia’s new law was approved by its Parliament last week. It's an attempt to swim against many tides of modern life — formidable forces like technology, marketing, globalization and, of course, the iron will of a teenager. The ban won’t go into effect for another year. But how will Australia be able to enforce it? That’s not clear, nor will it be easy. White House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaign WASHINGTON (AP) — A top White House official says at least eight U.S. telecom firms and dozens of nations have been impacted by a Chinese hacking campaign. Deputy national security adviser Anne Neuberger offered the new details Wednesday about the breadth of the sprawling Chinese hacking campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans. Neuberger divulged the scope of the hack a day after the FBI and the Cybersecurity and Infrastructure Security Agency issued guidance intended to help root out the hackers and prevent similar cyberespionage in the future. White House officials cautioned that a number of telecommunication firms and countries impacted could still grow. District of Columbia says Amazon secretly stopped fast deliveries to 2 predominantly Black ZIP codes The District of Columbia is alleging in a lawsuit that Amazon secretly stopped providing its fastest delivery service to residents of two predominantly Black neighborhoods in the city. The district says the online retailer still charged residents of two ZIP codes millions of dollars for a service that provides speedy deliveries. The complaint filed on Wednesday in District of Columbia Superior Court revolves around Amazon’s Prime membership service. The lawsuit alleges Amazon in mid-2022 imposed what it called a delivery “exclusion” on the two low-income ZIP codes. An Amazon spokesperson says the company made the change based on concerns about driver safety. The spokesperson says claims that Amazon's business practices are discriminatory are “categorically false.” Biden says 'Africa is the future' as he pledges millions more on the last day of Angola visit LOBITO, Angola (AP) — President Joe Biden has pledged another $600 million for an ambitious multi-country rail project in Africa as one of the final foreign policy moves of his administration. He told African leaders Wednesday that the resource-rich continent of more than 1.4 billion people had been “left behind for much too long. But not anymore. Africa is the future.” Biden used the third and final day of his visit to Angola to showcase the Lobito Corridor railway. The U.S. and allies are investing heavily to refurbish train lines in Zambia, Congo and Angola in a region rich in critical minerals to counter China's influence. The end of an Eras tour approaches, marking a bittersweet moment for Taylor Swift fans NASHVILLE, Tenn. (AP) — The global phenomenon that is Taylor Swift’s Eras Tour is coming to an end after the popstar performed more than 150 shows across five continents over nearly two years. Since launching the tour in 2023, Swift has shattered sales and attendance records. It's even created such an economic boom that the Federal Reserve took note. But for many who attended the concerts, and the millions more who eagerly watched on their screens, the tour also became a beacon of joy. It's become a chance not only to appreciate Swift’s expansive music career, but also celebrate the yearslong journey fans have taken with her. US senators grill officials from 5 airlines over fees for seats and checked bags A U.S. Senate subcommittee is taking aim at airlines and their growing use of fees for things like early boarding and better seats. Members of the Senate Permanent on Investigations say airlines have raised billions of dollars by imposing fees that are getting hard to understand and even harder to avoid paying. The senators and the Biden administration call them “junk fees,” and they say the extra charges are making travel less affordable. Some senators expressed frustration during a hearing on Wednesday hearing when airline executives couldn't explain how they set various fees. Airlines say fees let consumers pay for things they want, like more legroom, and avoid paying for things they don't want. OpenAI's Sam Altman 'not that worried' about rival Elon Musk's influence in the Trump administration OpenAI CEO Sam Altman is locked in a legal dispute with rival Elon Musk. But he says he is not that worried about Musk’s influence in the incoming Trump administration. Altman told a New York Times conference Wednesday that he may turn out to be wrong but he believes strongly that Musk will do the right thing and won't use his political power to hurt competitors. Musk was an early OpenAI investor and board member. He sued the artificial intelligence company earlier this year alleging that it betrayed its founding aims of benefiting the public good rather than pursuing profits.Jammu and Kashmir Chief Minister Omar Abdullah visited his Assembly constituency, Ganderbal, on Saturday to take stock of the situation in the aftermath of snowfall, officials said. Abdullah visited his constituency to assess the situation first-hand and monitor the district administration's efforts to provide relief to people, they added. ET Year-end Special Reads Take That: The gamechanger weapon's India acquired in 2024 10 big-bang policy moves Modi government made in 2024 How governments tried to rein in the social media beast The officials said the chief minister paid an unannounced visit to the district hospital to assess its preparedness in providing healthcare services. He interacted with the hospital staff as well as patients and their attendants, and emphasised the importance of ensuring uninterrupted medical services, the officials said. They said the chief minister also enquired about the heating arrangements at the hospital, and the availability of staff, essential medicines and other facilities. Later, he visited the mini-secretariat complex and took stock of the situation across the Union Territory from the deputy commissioner's office at Ganderbal, the officials said. 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He directed the officers to take swift action to ensure uninterrupted essential services after the snowfall, the officials said. Talking to reporters in Ganderbal, Abdullah said he visited Ganderbal to ensure that people do not face much hardships due to the snow. "I wanted to ensure that the snow-clearance operations on roads were sped up and electricity was restored wherever the lines were snapped. I also wanted to take stock of hospital and essential services," he said. The chief minister said he is monitoring the situation in other districts of the valley as well. "There are places where electricity has been affected due to snowfall and that would be restored by Saturday evening. Efforts are also on to clear the roads that are blocked due to snow," he said. Asked about the restoration of water supply in certain areas, the chief minister said wherever the supply can be restored immediately, it would be done, and wherever it would take time, water tankers would be made available. 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AP News Summary at 9:52 a.m. ESTThis year’s electoral rhetoric exposed the deep fissures in our body politic, leaving many feeling disillusioned and even fractured. In this moment of potential discord, people of faith have a profound opportunity to model a different path forward — one anchored in the timeless principles of civility, justice and a fierce commitment to our nation’s highest ideals. In all their glorious diversity, many religious traditions share a common bedrock: the inherent worth and dignity of every human being, created in the image of the Divine. This sacred truth must be the north star guiding interactions, especially with those we disagree with. Civility isn’t about avoiding the tough conversations or pretending our differences don’t exist. It’s about engaging in those conversations with respect, empathy, and an open heart and mind. It’s about recognizing that our political opponents aren’t our enemies but fellow travelers on this Earth, deserving of our compassion and understanding. But make no mistake, my friends, civility is only the first step. Justice is the backbone of any truly moral society and demands our unwavering commitment. The Hebrew prophets railed against injustice, Jesus lifted the marginalized and Muhammad taught that true belief compels us to desire for others what we want for ourselves. These aren’t dusty relics of the past; they’re a blazing call to action in the present. In a post-election America where many feel their voices have been silenced or their rights threatened, people of faith ought to model righteousness. People of faith are expected to advocate for policies that promote equity, accessibility and the common good. An imperative of major faith expressions is to stand in solidarity with the vulnerable, poor and estranged. Remember that justice isn’t a zero-sum game, where one person’s gain requires another’s loss — and creating a world where all can flourish, as the prophets envisioned. Yet justice, even paired with civility, still needs a shared commitment to the nation’s social contract. A contract, enshrined in our founding documents, is a sacred trust between generations — an agreement to uphold the principles of liberty, democracy and the rule of law. It is the glue that binds us together as one people, “E pluribus unum,” even as we celebrate our differences. In the aftermath of an election, this contract is tested. It is easy to feel tempted to retreat into our respective corners and question the legitimacy of those who disagree with us. However, people of faith are bound by different ethics. Accountable to a higher call and standard. A model committed to upholding the social contract, even when it’s hard. We must engage in the political process with integrity and respect the outcomes even as we continue to advocate for our values. We are reminding ourselves and others that a single election doesn’t define our national identity but our enduring ideals. That is why all are invited to pray. Pray for the grace of civility. Pray for the courage to pursue justice for the vulnerable and champion the marginalized. Pray that we may remain one people united by our shared commitment to liberty, democracy and the rule of law. In the aftermath of this election, let us not be a force for further division but a balm to the nation’s wounds. For in doing so, we may help bring about the beloved community that has always been America’s promise — a community where all can thrive, where justice rolls down like a mighty stream, and where every person, regardless of their beliefs or background, is treated with the dignity and respect they deserve as children of God.