Driver arrested on suspicion of DUI after fatal pile-up ****** on I-805
Driver arrested on suspicion of DUI after fatal pile-up ****** on I-805
Video above: This FOX 5/KUSI video from May 3, 2025, shows the scene of a multi-vehicle ****** on San Diego’s 805 freeway.
SAN DIEGO (FOX 5/KUSI) — A San Diego man was ultimately arrested on Saturday following a multi-vehicle ****** on Interstate 805 that left one person dead and several others injured, authorities said. The incident forced a full closure of the southbound freeway, gridlocking traffic for hours.
The pile-up collision occurred around 8:50 a.m., just north of 43rd Street. According to California Highway Patrol, 27-year-old Markus Eugene Turner was driving a ****** Honda sedan when, for reasons still under investigation, he collided with a silver Toyota sedan that was stopped on the right shoulder of the freeway.
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The ****** triggered a chain reaction, with Turner’s vehicle also striking a blue Honda sedan and a white Toyota sedan. A nearby silver Nissan SUV was also damaged by flying glass debris, CHP explained in a press release on Monday.
The scene of a major ****** on I-805 southbound on Saturday, May 3, 2025.(KSWB)
Turner, along with two passengers in his vehicle and the driver of the blue Honda sedan, was transported to a local hospital—their injuries ranged from minor to major. Meanwhile, the driver of the silver Toyota sedan sustained fatal injuries and was pronounced dead at the scene of the ******, CHP confirmed.
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Once medically cleared, authorities said Turner was arrested on suspicion of driving under the influence. He was booked into the San Diego County Jail on multiple charges.
The identity of the deceased individual has not yet been released.
CHP investigators are continuing to examine the cause and sequence of the multi-vehicle ******. Anyone who may have witnessed the incident is encouraged to contact the CHP San Diego Area office at 858-293-6000.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to FOX 5 San Diego & KUSI News.
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Press conference on the next EU long-term budget: outcome of Plenary’s vote | News
Press conference on the next EU long-term budget: outcome of Plenary’s vote | News
After MEPs vote on the report detailing Parliament’s priorities for the next long-term EU budget (MFF), Roberta Metsola, EP President, Siegfried Mureșan (EPP, RO) and Carla Tavares (S&D, PT), co-rapporteurs will hold a press conference and answer questions from journalists.
When: 14:00 – 14:30, Wednesday, 7 May, 2025
Where: Strasbourg, Daphne Caruana Galizia press conference room (WEISS N -1/201) and remotely via Interactio
Journalists online wishing to take part and ask questions, please connect via Interactio.
You can also follow the press conference online via webstreaming.
Background
The Parliament votes on the report on the future of the EU’s long-term budget, the Multiannual Financial Framework (MFF) on Wednesday. This report will outline Parliament’s position on the priorities, structure, and resources of the post-2027 EU budget.
Information for the media – Use Interactio to ask questions remotely
Interactio is only supported on iPads (with the Safari browser) and Mac/Windows (with the Google Chrome browser).
When connecting, enter your name and the media you are representing in the first name / last name fields.
For better sound quality, use headphones and a microphone. Interpretation is only possible for questions asked on video.
Journalists who have never used Interactio before are asked to connect 30 minutes before the start of the press conference to perform a connection test. IT assistance can be provided if necessary.
When connected, open the chat window (upper right corner) to be able to see the service messages.
For more details, check the connection guidelines and recommendations for remote speakers.
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El Salvador president orders arrest of bus company heads for defying free ride policy – NPR
El Salvador president orders arrest of bus company heads for defying free ride policy – NPR
El Salvador president orders arrest of bus company heads for defying free ride policy NPRView Full Coverage on Google News
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Agentic AI could yield creative futures if it augments human workers
Agentic AI could yield creative futures if it augments human workers
Anyone who has been held in a customer service phone loop trying to resolve issues relating to products, services, accounts and so on will know the feeling – customer service can be a frustrating, time-consuming experience.
It feels like technology has not helped that much, so when Gartner trumpeted the prospects of agentic artificial intelligence (AI) last year, claiming it was a top tech trend for 2025, it felt a little hollow, something of a ‘here we go again’ moment. Was this a technology that would not only enable automated decision making, but would also form the bedrock on which more coherent and capable agents (AI or human) can operate?
Gartner refers to agentic AI as “a goal-driven digital workforce that autonomously makes plans and takes actions”. It sees it as “an extension of the workforce that doesn’t need vacations or other benefits”.
AI agents sit on top of this, beneficiaries of improved automated infrastructures and frameworks, managing and coordinating operational data. That’s the theory, at least, and recently Gartner doubled down, claiming that “by 2029, agentic AI will autonomously resolve 80% of common customer service issues without human intervention, leading to a 30% reduction in operational costs”.
This is echoed by GlobalData in its Automation 2.0: The rise of intelligent AI agents report, which calls agentic AI “a transformative force redefining the boundaries of automation”.
[Agentic AI’s] ability to adapt in real time positions it as a cornerstone of digital transformation, particularly in sectors demanding dynamic decision-making
Kiran Raj, GlobalData
Kiran Raj, head of disruptive tech at GlobalData, says agentic AI has the potential to reduce administrative burdens in healthcare, streamline financial transactions, or optimise energy systems. “Its ability to adapt in real time positions it as a cornerstone of digital transformation, particularly in sectors demanding dynamic decision-making.”
These are big predictions. The problem is that when it comes to AI, we’ve had a lot of big predictions over the past 24 months. It can get a little weary fighting through the superlatives and references to “efficiency” and “seamless automation”.
While the idea of AI agents autonomously handling complex tasks is appealing, the reality is that adoption is slow. It’s a landscape still dominated by experimentation rather than scaled implementation.
That hasn’t stopped Nvidia CEO Jensen Huang from weighing in. During his keynote at the Nvidia GTC event recently, Huang described agentic AI as “the next wave” of intelligent systems, ones that can reason, plan and act with far greater autonomy than today’s predictive models. These agents, he suggested, will not just respond, they will actually do things.
Secret Escapes soups up chatbot with GenAI for better CX
Eirik Pettersen, chief technology officer (CTO) at travel company Secret Escapes, is one of the few *** executives already putting that claim to the test. Secret Escapes was an early adopter of Salesforce’s Agentforce technology, an autonomous AI agent platform designed to be an always-on support for employees and customers across a range of departments – including, of course, customer support.
“As soon as we switched over to the GenAI version [of our chatbot], negative customer comments dropped off completely,” says Pettersen.
When you are fielding disgruntled communications from customers unhappy with the tool that is supposed to help them solve their problems, you can see why Pettersen believes that Agentforce is “a step change in experience”.
It’s the kind of operational change that Forrester highlights in its latest research, describing agentic AI as “a paradigm shift in how enterprises scale, compete and create value.”
In its report, Agentic AI is rising and will reforge businesses that embrace it, Forrester argues that early adopters that align their investments with business goals will unlock growth, efficiency (there’s that word again), and entirely new revenue streams. But success depends on more than enthusiasm.
As soon as we switched over to the GenAI version [of our chatbot], negative customer comments dropped off completely
Eirik Pettersen, Secret Escapes
“Agentic AI isn’t just another technological evolution,” says Leslie Joseph, principal analyst at Forrester. “Organisations must rethink their operating models, invest in resilient AI foundations, and rally teams and workforces around a shared vision. The time to act is now – companies that wait risk obsolescence.”
Unlike traditional automation tools or standalone large language models (LLMs), agentic AI is defined by its autonomy and adaptability. As the Forrester report says: “It can plan strategically, reason through complex scenarios, collaborate between different components and leverage external tools to achieve objectives with remarkable autonomy.”
Forrester outlines a phased evolution where complex-flow agentic AI, which is already in use today, handles multistep tasks based on contextual goals. This is the entry point. Forrester goes on to suggest that multi-flow agentic AI will be next, enabling systems to collaborate and negotiate in real time across departments. Finally, there will be any-flow agentic AI, where swarms of agents act independently across enterprise ecosystems.
A reality check on autonomy
Not every organisation is ready to hand over the keys to an AI workforce, though. At Secret Escapes, Pettersen is still balancing experimentation with control.
“One of the main goals of our project was to reduce escalation to live agents,” says Pettersen. As a business that outsources its customer support (and pays human agents by the hour), this reasoning is understandably embedded within cost management. Escalating calls to humans can be expensive.
“We’ve seen around a 5% improvement, but we’re now learning to relax some of our guardrails and let the system do more. We’ve shackled our AI a bit too tightly,” Pettersen admits. “It hasn’t really had free rein yet.”
One of the main goals of our project was to reduce escalation to live agents. We’ve seen around a 5% improvement, but we’re now learning to relax some of our guardrails and let the system do more. We’ve shackled our AI a bit too tightly. It hasn’t really had free rein yet
Eirik Pettersen, Secret Escapes
What’s equally important, he says, is the empowerment of his non-technical teams. “Our head of customer service has been the one building the prompts. What’s music to my ears as a CTO is where people can improve the solution without having to use my engineers or my capacity.”
Pettersen highlights five early use cases, ranging from managing baggage queries and occupancy rules to processing cancellations and special requests, all of which can vary dramatically in format and language across airlines and hotels. Trying to model this manually was brittle and complex. But the flexibility of agentic AI offers a more human-like approach to resolving nuance at scale, he says.
Secret Escapes is not alone here. GlobalData cites a number of companies now experimenting with or scaling agentic systems. BT is using ServiceNow’s Now platform to try to cut resolution times to under a minute and reduce paperwork by 55%, while OpenTable has deployed Salesforce Agentforce and Service Cloud “to shave minutes off support calls while freeing staff to handle complex issues”.
These examples highlight agentic AI’s flexibility across sectors, from customer support to supply chain orchestration and marketing optimisation. But, as DeepMind CEO Demis Hassabis recently warned, while the signs are promising, companies have to be wary of compounding errors in AI. It is far from error-proof, which means that if agentic AI is to achieve what it sets out to achieve, organisations have to revisit the raw data and data processes that fuel their AI.
From experimentation to reinvention
The idea of moving from task automation to business model transformation is exactly what consultants like Publicis Sapient are now urging clients to explore.
“Agentic AI will become the way AI is delivered,” says Simon James, head of data and AI at Publicis Sapient. “An evolution from replicating legacy processes to reimagining ones that can be improved upon by generative AI.”
He sees the term agentic fading over time, as it becomes embedded within everyday enterprise AI. But for now, businesses must make some tough calls.
“What companies need to decide is the level of autonomy they’re comfortable delegating to agents and what role human oversight should play,” he says.
Rather than betting on general-purpose super-agents, James notes that successful implementations are more modest in scope. “We’ve seen the definition of agentic gravitate toward a more deterministic model, breaking a process into small chunks, where each block is an agent with limited, discrete functions. It’s more practical, more transparent, and easier to manage,” he says.
What companies need to decide is the level of autonomy they’re comfortable delegating to agents and what role human oversight should play
Simon James, Publicis Sapient
But is it worth the cost? As agentic AI adoption increases, so too do the questions around cost, not just in terms of implementation, but in operational overhead.
“Businesses need to be mindful of the increase in cloud consumption costs driven by AI applications,” says James. “Any AI-focused programme should be self-funding, and proportionate to the opportunity and evidence of results.”
This aligns with Forrester’s view that agentic AI should not be treated as just another tech layer. It’s not about automation for automation’s sake, it’s about rethinking what’s possible.
“The winners of the AI age will not merely be the fastest adopters,” says the firm’s report. “They’ll be those who redesign their business models to harness agentic AI as a strategic differentiator.”
The momentum is also reflected in the investment landscape. According to GlobalData, agentic AI attracted $1.8bn in venture capital funding across 69 deals in 2024 alone. Notable raises include $220m for Paris-based startup H and $97.2m for New York’s Emergence AI, signalling confidence in this emerging infrastructure layer.
But we have seen AI investment spikes before, and the individual investment sums are not earth-shattering – at least, not yet. Perhaps the real indicator of agentic AI’s potential success lies in the reasoning applied by corporations in adopting agentic AI.
As Ethan Mollick, one of the authors of The cybernetic teammate: A field experiment on generative AI reshaping teamwork and expertise, recently wrote: “Companies that focus solely on efficiency gains from AI will not only find workers unwilling to share their AI discoveries for fear of making themselves redundant, but will also miss the opportunity to think ******* about the future of work.”
The point is that if organisations see agentic AI as purely a way of saving money, then they will undermine the true value of agentic AI in supplementing, or even enhancing, existing employee capabilities and productivity. This may be a harder sell to a financial director looking at head count, but it could well be the reality, at least for the next five years.
Perhaps the true test of agentic AI won’t be the tech itself but whether companies use it to reinvent or simply reinforce old habits.
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Visa applications for some nationalities could be restricted
Visa applications for some nationalities could be restricted
Visa applications from nationalities thought most likely to overstay and claim asylum in the *** could be restricted under a new government crackdown.
Under Home Office plans, first reported in the Times, people from countries such as Pakistan, Nigeria and Sri Lanka may find it more difficult to come to the *** to work and study.
Ministers believe there is a particular problem with those who come to the *** legally on work or study visas and then lodge a claim for asylum – which if granted, would allow them to stay in the country permanently.
A Home Office spokesperson said: “Our upcoming Immigration White Paper will set out a comprehensive plan to restore order to our broken immigration system.”
It is not clear which nationalities are most likely to overstay their visas as the Home Office has not published statistics on exit checks for people on visas since 2020, due to a review into the accuracy of the figures.
Many exits from the *** can go unrecorded, meaning those without a departure record were not necessarily still in the country.
Prof Jonathan Portes, a senior fellow at the academic think tank *** in a Changing Europe, said the impact that restricting visas would have on the number of asylum applications was “likely to be quite small”.
“I think the impact here is not designed primarily to be about numbers overall, it’s designed to be about reducing asylum claims which are perceived to be abusive,” he told BBC Radio 4’s Today programme.
“When you have someone who comes here ostensibly as a student and then switches quickly to the asylum route… that is an abuse of the system – the government is trying to reduce that.”
Since becoming prime minister last year, Sir Keir Starmer has promised to reduce both ******** and legal migration – but has previously declined to offer a net migration target, saying an “arbitrary cap” has had no impact in the past.
Labour’s plans to reduce migration include making it a criminal offence to endanger the lives of others at sea, to target small boat crossings, and cutting demand for overseas hires by developing training plans for sectors that are currently reliant on migrant workers.
Sir Keir has criticised the previous Conservative government, saying it failed to deliver lower net migration numbers “by design, not accident”.
Net migration – the number of people coming to the ***, minus the number leaving – hit a record 906,000 in the year to June 2023, and then fell to 728,000 in the year to June 2024.
New rules introduced by former Prime Minister Rishi Sunak in a bid to reduce migration levels appear to have contributed to the fall.
The previous Conservative government increased the minimum salary for skilled overseas workers wanting to come to the *** from £26,200 to £38,700 and banned care workers from bringing family dependants to the ***.
Labour was already under pressure to make changes to the immigration system – but that pressure may have grown after Reform ***’s successes in last week’s local elections.
Reform won 677 of around 1,600 seats contested on Thursday across a clutch of mainly Tory-held councils last contested in 2021.
In its general election manifesto, Reform said it would implement a freeze on non-essential immigration. Those with certain skills – for example in healthcare – would still be allowed to come to the ***.
Reacting to the results last week, Sir Keir said he shared the “sharp edge of fury” felt by voters leaning away from the major parties, arguing that it would spur him on to “go further and faster” in delivering Labour’s promised changes to immigration and public services.
Plans to tackle overstaying were already being worked on before the local elections.
Full details of government’s plans are due to be published in a new immigration white paper later in May.
A Home Office spokesperson said: “To tackle abuse by foreign nationals who arrive on work and study visas and go on to claim asylum, we are building intelligence on the profile of these individuals to identify them earlier and faster.
“We keep the visa system under constant review and will where we detect trends, which may undermine our immigration rules, we will not hesitate to take action.
“Under our plan for change, our upcoming Immigration White Paper will set out a comprehensive plan to restore order to our broken immigration system.”
Additional reporting by Alex Boyd.
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Art on the Move brings Ronald Courtney Institute from the whimsical world of Jessee Lee Johns to Porongurup
Art on the Move brings Ronald Courtney Institute from the whimsical world of Jessee Lee Johns to Porongurup
A visit to the Ronald Courtney Institute in Porongurup means entering the surreal world of artist Jessee Lee Johns.
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Jon Voight partially reveals Trump’s roadmap to ‘make Hollywood great again’
Jon Voight partially reveals Trump’s roadmap to ‘make Hollywood great again’
Further light has been shed on Donald Trump’s desire to impose tariffs on foreign-made films, with Jon Voight reportedly providing the president with a partial roadmap to aid the Hollywood film industry.
On Sunday (4 May) Trump took to social media to brand foreign film production a “National Security threat”.
Posting on his own site, Truth Social, the US president wrote: “The Movie Industry in America is DYING a very fast death. Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the USA, are being devastated.
“This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda! Therefore, I am authorising the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100 per cent Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.
“WE WANT MOVIES MADE IN AMERICA, AGAIN!”
Jon Voight and Donald Trump outside the Oval Office in January 2020 (Getty Images)
Details about the controversial plan have been scarce following Trump’s rant, but Deadline has now reported that a team comprised of Voight, special adviser Steven Paul, and SP Media Group/Atlas Comics president Scott Karol has submitted a proposal to Trump at his Mar-A-Lago resort, detailing how film production in the US can be boosted.
Their idea is said to involve federal tax incentives, tax code changes, co-production treaties with other countries, as well as infrastructure subsidies for cinema owners, film and television production companies and post-production companies. The trio’s plan also includes notes on job training, and “tariffs in certain limited circumstances”.
In a video released on X/Twitter, Voight, who was named as one of Trump’s “special ambassadors” to Hollywood, claimed: “Our industry recently has suffered greatly over these past few years, and many Americans have lost jobs to productions that have gone overseas.”
Highlighting the seriousness of the situation, Voight added that “people have lost their homes” and “can’t feed their families”.
“The president loves the entertainment business and this country, and he will help us make Hollywood great again,” said Voight, who won an Oscar in 1979 for his performance in Coming Home.
In addition to Voight’s comments, Deadline reports that Paul said: “The American film industry, and Hollywood, is a beacon for teaching the American Dream to the world and is an engine for job growth and career opportunity. It’s essential that we preserve America’s leadership in film and television production.”
Karol echoed these thoughts, stating: “We’ve spent months meeting with top leaders across the film and television industry, and there is broad agreement that runaway production has become a serious issue that needs to be addressed now. This plan is about levelling the playing field so that producing right here in America is not only a competitive option but the first choice.”
On Sunday, the White House appeared to play down the severity of the tariffs, with spokesperson Kush Desai telling the Hollywood Reporter: “Although no final decisions on foreign film tariffs have been made, the administration is exploring all options to deliver on president Trump’s directive to safeguard our country’s national and economic security while Making Hollywood Great Again.”
At the time of writing no meetings between Trump and studio producers have been scheduled. One source told Deadline: “We don’t even know when this is supposed to happen – it was sprung on us this morning when Trump made the announcement.”
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Trump news at a glance: immigrants offered money to leave US and White House walks back film tariff plan – The Guardian
Trump news at a glance: immigrants offered money to leave US and White House walks back film tariff plan – The Guardian
Trump news at a glance: immigrants offered money to leave US and White House walks back film tariff plan The GuardianTrump administration to pay $1,000 to undocumented immigrants who self-deport NBC NewsUS offers $1,000 stipend to encourage migrants to self-deport ReutersDHS offers $1,000 and a plane ticket to migrants who deport themselves USA TodayU.S. offers migrants free airline tickets and $1,000 stipend if they self-deport CBS News
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Banks, health stocks sink ASX 200
Banks, health stocks sink ASX 200
The ASX 200 closed marginally lower during Tuesday’s trading as the major banks and healthcare drag the market down.
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‘Cocoa boys’ flock to ********* farmlands, drawn by high prices
‘Cocoa boys’ flock to ********* farmlands, drawn by high prices
By Ben Ezeamalu
IKOM, Nigeria (Reuters) – Growing up in Nigeria’s cocoa farming area of Ikom in the southeast, Anyoghe Akwa did not see much of a future, so instead he decided to move away, study civil engineering and carve out a career in the construction industry.
That was until 2023, when he heard that cocoa prices were surging and farmers back home in Ikom were making a fortune.
“We saw 20-year-olds who never attended university generating a lot of money from cocoa farming, while those of us who were aspiring for a PhD were struggling,” said Akwa, 47, who had enrolled in a doctorate programme.
“So we started to come back and opened our own farms.”
Akwa is one of a cohort of new entrants to the sector, mostly men and nicknamed “cocoa boys”, who have switched to farming or other jobs to cash in on the cocoa price surge.
The Cocoa Farmers Association of Nigeria, which represents smallholder farmers, saw its membership increase by more than 10,000 in 2023-2024.
In Ikom, located in Cross River State on the border with Cameroon, most farmlands are owned by the community. Under an ancestral custom, a person with family roots in the community can present a bottle of wine, an offering of food and a modest sum of around 5,000 naira ($3) to receive a plot of land.
Akwa had inherited some farmland from his father and added some more through community allocation so he could plant more cacao trees, whose seeds are processed into cocoa and chocolate.
“Last year, I harvested four bags. I sold the first bag for 800,000 naira ($500), and the others between 1 million and 1.2 million naira per bag. It was a lot of money,” he said, noting that ***** of just one bag matched his annual salary as a civil engineer.
At the top price, Akwa was selling cocoa for 20 times its value in 2022, when the price of one 64-kg bag of beans was 60,000 naira, according to local growers.
NIGERIA’S COST OF LIVING CRISIS
A drop in output from Ivory Coast and Ghana, the world’s top two cocoa exporters which together account for 50% of global production, drove prices up from $2,200-$2,500 per metric ton in 2022 to nearly $11,000 in December 2024, according to the International Cocoa Organization, an inter-governmental body.
The price surge coincided with Nigeria’s worst economic crisis in over three decades, with record numbers of people being plunged into poverty.
Those producing cocoa were largely protected, and even helped by a devaluation of the naira that made exports more competitive.
Growers are not the only beneficiaries. The cocoa business also involves factors, or middlemen between farmers and licensed buying agents, who warehouse the beans and sell on to exporters.
Ndubuisi Nwachukwu, 48, made the leap from banker to LBA in 2022, inspired by a business mentor. His timing turned out to be ideal.
“The income I’ve made these few years as an LBA, if you add up all the salary I earned as a banker, it is not up to it,” he said.
In Ikom and other cocoa-producing areas, the newly-affluent “cocoa boys” are shaking up local economies and driving up housing costs.
“You can consider me to be a cocoa boy, because when you (talk about) cocoa now, people see you to be a ‘big boy’,” said Mark Bassey, 41, who left a low-paying job as a medical laboratory scientist to become a grower in his ancestral home.
As a boy, Bassey followed his mother to the cocoa plantation, so the skills were familiar to him. Like Akwa, he had wanted something different and had studied science at university, but he found it impossible to make a good wage.
“I know that I will still go back into my profession because of my love for it, but for now I want to focus on farming,” said Bassey, who says he has quadrupled his income.
SMUGGLING AND HEDGING
Nigeria is the world’s fourth-largest cocoa producer, according to the ICCO, but its output of 315,000 metric tons was far behind its West African rivals Ivory Coast and Ghana, at 2,241,000 and 654,000 respectively.
The influx of new farmers, coupled with new cocoa strains that bear fruit within 18 months and government efforts to boost the sector by handing out free seedlings, should be driving up output, but this is not reflected in official statistics.
“Putting all these things together, by now we believe that Nigeria’s cocoa production level would have doubled,” said Rasheed Adedeji, director of research and strategy at the Cocoa Research Institute of Nigeria.
One reason is that a significant proportion of ********* cocoa beans, around 200,000 tons a year, are smuggled out of the country, he said.
The CRIN says it has received over half a million requests for new cocoa seedlings so far this year, enough to cover 400,000 hectares of farmland, triple the demand seen in the same ******* last year.
Still, some of the new growers are hedging their bets. Akwa shuttles between his farm and various construction sites where he still directs teams of workers and foremen.
“I don’t sleep because I have to keep calling them to see if they have done this or that,” he said. But if prices hold, he sees a long-term future in cocoa. “With what I’m seeing, it’s possible that I would switch to cocoa farming full-time.”
(Reporting by Ben Ezeamalu; Editing by Estelle Shirbon and Ros Russell)
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Thunder-Nuggets: 5 takeaways from Denver's Game 1 stunner – NBA
Thunder-Nuggets: 5 takeaways from Denver's Game 1 stunner – NBA
Thunder-Nuggets: 5 takeaways from Denver’s Game 1 stunner NBANuggets grab G1 in OKC on 2nd Gordon winner ESPNNBA Playoffs Live Blog NBAThe Denver Nuggets Are Thin, Flawed, and Dangerous The RingerThunder vs. Nuggets: Key matchups, schedule and prediction for epic battle featuring MVP finalists Yahoo Sports
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Buffett’s Exit Marks a New Era, but Berkshire Hathaway is Still a Long-Term Buy
Buffett’s Exit Marks a New Era, but Berkshire Hathaway is Still a Long-Term Buy
The headline news from Berkshire Hathaway’s (NYSE:) (NYSE:) annual meeting was the announcement that Warren Buffett, the longtime chairman and CEO, was stepping down as CEO at the end of the year.
While many expressed shock upon hearing the news, the change at the top has been in the works since 2021 when vice chairman Greg Abel was named the eventual successor. And just last quarter in February, Buffett said; “At 94, it won’t be long before Greg Abel replaces me as CEO and will be writing the annual letters.”
So, this was probably one of the worst-kept surprises out there and shouldn’t have been a huge shock to anyone. Then again, the stock price was trending lower, down about 5% on Monday.
The good news is that Buffett is sticking around, as he will remain chairman of the board. But the reality is, as far as transitions go, this one should be fairly seamless as Abel has worked at Buffett’s side for 26 years.
However, there were other factors that caused the stock price to plummet on Monday, particularly the lackluster first-quarter earnings.
Operating Earnings Drop
Berkshire Hathaway had a difficult first quarter, as net earnings dropped 64% to $4.6 billion, from $12.7 billion the same quarter a year ago.
But investors should be less concerned about this result, because the net earnings must factor in the returns for the company’s $268 billion portfolio. The portfolio lost $5 billion in the quarter because it was a bad quarter for stocks, with all of the major indexes down. But these are unrealized losses, not real losses, as the stocks are still in the portfolio.
The number that investors should be more concerned about is the operating earnings, which are the earnings of the several dozen businesses that Berkshire Hathaway outright owns. One of its biggest businesses is insurance, as it owns several insurance companies.
Operating earnings in Q1 fell 14% to $9.6 billion, from $11.2 billion. The decline in earnings stem, almost entirely, from a $1.3 billion drop in insurance underwriting earnings to $1.3 billion.
Specifically, the decrease is due to a $1.1 billion loss due to the Southern California wildfires that ravaged the region in Q1. This is in comparison to no major catastrophic events in the first quarter of 2024.
In terms of revenue, Berkshire’s businesses generated $89.7 billion, down 3% year-over-year. Insurance revenue fell 1% to $77.7 billion.
Buying Opportunity?
Monday’s selloff may be a buying opportunity for investors.
While leadership upheaval, particularly of this magnitude, often sows trepidation among investors, they should not expect much to change when Abel takes over next year. This is especially true with Buffett still on board as chairman during the transition.
Plus, the catastrophic losses in Q1 due to the wildfires are not a typical occurrence, certainly not to that extent.
Berkshire stock is up 14% YTD, and over the past 10 years, it has averaged a return of about the same per year. Because of the diversified assets that Berkshire owns, the stock is typically built to weather tough times and usually beats the market when stocks in the broader markets are down.
This might be an opportunity for investors to add some shares of the conglomerate and hold them for the long term.
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Xanadu triggers Mongolian copper-gold ***** vote as JV deal stalls
Xanadu triggers Mongolian copper-gold ***** vote as JV deal stalls
In a dramatic turn that could reshape the ownership trajectory of one of Mongolia’s biggest copper-gold plays, Xanadu Mines has allowed its exclusivity agreement with ******** mining heavyweight and joint venture partner Zijin Mining Group to lapse after failing to seal a control transaction deal.
The move ends a tense wait since April when Zijin tabled a non-binding proposal that Xanadu’s board judged superior to exercising its existing 25 per cent put option with Zijin.
After weeks of wrangling, Zijin has been unable to make a decision on such a tight timeline and has been pulled up short of signing on the dotted line.
Notably, Zijin has elected to not withdraw its original offer.
With the clock ticking and no firm commitment from its joint venture partner, Xanadu’s independent board committee has reactivated its backup plan by triggering shareholder approval for a put option.
An extraordinary general meeting has been scheduled for June 4, where investors will vote on whether to sell the remaining 25 per cent stake in its flagship Kharmagtai project to Zijin.
If green-lit, the deal would cement Xanadu’s exit from future cash obligations for the world-class project, turning Kharmagtai into a long-term, zero-capex asset within the company’s portfolio.
If the put option vote fails and a better deal doesn’t show its face, the company will move onto plan B, chasing alternate funding sources to carry it forward as a 50 per cent partner with Zijin until the final investment decision is made.
While we had expected a more rapid process, given Zijin’s now extensive experience in Mongolia, we will continue to work with our JV partner towards a funding outcome required to progress the Kharmagtai project. We will now also recommence discussions with third parties who have expressed interest in Kharmagtai.
The Kharmagtai project, held in a 50:50 partnership with Zijin, is a globally significant copper-gold resource.
The project packs some serious punch, with a mammoth 730-million-tonnes locked in as reserves, including 1.6Mt copper and 4M ounces gold. The real kicker is a 100Mt high-grade core grading 0.8 per cent copper equivalent, which could be just the tonic for Xanadu as a juicy early-stage cash generator to catapult the project into global producer status.
A recent feasibility study pegged Kharmagtai’s net present value at a hefty US$930M (A$1.44B) on a US$890M (A$1.3B) capex, generating an eye-watering US$293M (A$455M) annual EBITDA. With output tipped to hit 80,000t copper and 170,000 ounces of gold a year – at a modest cost of 70 cents per pound copper – the mine is set to pay off in four years and pump cash for nearly three decades.
Xanadu’s decision to allow its exclusivity deal with Zijin to elapse has opened the door to third-party suitors, reigniting competition for a stake in one of Asia’s most promising development-stage deposits.
In the meantime, the company says the independent board committee will continue to chat with Zijin about a possible extension of the put option exercise *******. However, Xanadu says there is no certainty a deal will emerge.
With the countdown to the June 4 vote underway, Xanadu is back in the driver’s seat, fielding fresh interest, weighing its strategic options and keeping all its cards on the table.
Whether it’s a full exit, joint venture or alternate funding, one thing is clear from Zijin’s ongoing interest: Kharmagtai appears to be a world-class resource and potentially a hotly contested prize, leaving Xanadu primed to play it for maximum value.
Is your ASX-listed company doing something interesting? Contact: *****@*****.tld
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American tourist climbs over fence at Colosseum, impales himself on spike
American tourist climbs over fence at Colosseum, impales himself on spike
An American tourist’s visit to the Colosseum in Rome took a turn for the terrifying after the man impaled himself on a fence and was left dangling and screaming in pain, while other visitors looked on in horror, according to Italian news outlets.
The gruesome incident took place around 5 p.m. Friday, when the 47-year-old American attempted to climb over a fence in Piazza del Colosseo, presumably to get a closer look at the historic Roman amphitheater, according to reporting by Il Messaggero.
The man fell and was skewered by the sharp metal bars of the fence. He began screaming and bleeding profusely until he became unconscious, the newspaper reported.
An ambulance rushed to the scene, and medics found that the man had suffered a severe injury in his lower back that was preventing him from moving. They administered a sedative before carefully detaching him and applying a tight bandage to the wound.
It took around 20 minutes to detach and stabilize the tourist, according to Il Messaggero. He was then taken to a local hospital in critical condition. He underwent emergency surgery and received 80 stitches to close the wound.
“It was terrible,” a tourist told the newspaper in Italian. “I saw that man impaled on a railing and he couldn’t free himself.”
The man’s identity has not been released, but he is reported to also be a resident of Taiwan, according to Il Messaggero. The man was unable to speak for several hours but was questioned by Italian law enforcement on Sunday, the outlet reported.
Although this may have been the bloodiest incident involving American tourists at the historic monument, it is far from the first.
In 2015, two California women, ages 21 and 25, were arrested on suspicion of carving the letters “J” and “N” into a brick wall inside the Colosseum and then posing for selfies in front of their handiwork. They were charged with aggravated damage to a building of historical interest.
In 2021, two American men, ages 24 and 25, were fined approximately $900 each for breaking into the Colosseum before dawn to drink beers inside.
The Colosseum dates back to 72 A.D. and was the largest amphitheater in the Roman Empire, a place where thousands gathered to watch gladiators fight. Today it is a UNESCO World Heritage Site and visited by millions of tourists a year.
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This story originally appeared in Los Angeles Times.
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"Less Generals More GIs": Hegseth orders Pentagon to cut number of top generals by 20% – Axios
"Less Generals More GIs": Hegseth orders Pentagon to cut number of top generals by 20% – Axios
“Less Generals More GIs”: Hegseth orders Pentagon to cut number of top generals by 20% AxiosUS Defense Secretary Hegseth to slash senior-most ranks of military ReutersHegseth orders Pentagon to cut number of senior generals by 20% CNNDefense Secretary’s First 100 Days of Delivering on Promises U.S. Department of Defense (.gov)SecDef wields axe to brass, HQs, formations to fashion leaner Army Defense News
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Pregnant Rihanna Debuts Baby Bump at Met Gala 2025 in Custom Marc Jacobs Look – WWD
Pregnant Rihanna Debuts Baby Bump at Met Gala 2025 in Custom Marc Jacobs Look – WWD
Pregnant Rihanna Debuts Baby Bump at Met Gala 2025 in Custom Marc Jacobs Look WWDPregnant Rihanna Debuts Baby Bump on 2025 Met Gala Red Carpet Almost an Hour After It Ended — and It’s So Worth the Wait People.comRihanna reveals third pregnancy at the Met Gala CNNRihanna fashions another epic pregnancy reveal — this time at the Met Gala YahooRihanna Arrives at the Met Gala, Appearing to Confirm A Third Pregnancy The New York Times
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****** says ‘no point’ to talks as Israel plans expanded Gaza offensive
****** says ‘no point’ to talks as Israel plans expanded Gaza offensive
A senior ****** official has said there is “no point” in further talks on a new Gaza ceasefire and hostage release deal after Israel said it would expand its ground offensive and occupy Gaza indefinitely.
Bassem Naim told the BBC the ************ armed group would not engage with new proposals while Israel continued what he called its “starvation war”.
Israel says its objective is the return of hostages still held by ****** and its “dismantling and decisive defeat”.
Israeli officials said on Monday the plans involved displacing the majority of Gaza’s 2.1 million population, seizing all of the territory, and taking control of humanitarian aid after a two-month blockade.
They had said the offensive would not begin until after US President Donald Trump’s visit to the region next week, giving ****** what they called a “window of opportunity” to agree to a deal.
Britain, France and the UN have criticised Israel’s new plans.
UN Secretary General António Guterres expressed alarm and warned it would “inevitably lead to countless more civilians killed and the further destruction of Gaza”.
UN agencies and their partners have also condemned Israel’s proposal to deliver aid through private companies at military hubs, saying it would be a breach of basic humanitarian principles and that they would not co-operate.
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Macquarie Conference: CEOs call on Albanese Government to use win to address productivity crisis
Macquarie Conference: CEOs call on Albanese Government to use win to address productivity crisis
Australia’s top companies are calling for a renewed focus on reform, with Labor now holding an expanded mandate and likely facing a third term.
Top of mind is restoring Australia’s productivity, which fell by 1.2 per cent last year and is at fifty-year lows.
Opening the Macquarie Australia Conference, the Bank’s chief executive Shemara Wikramanayake said the country had shown enormous resilience throughout recent and longer-term turmoil, thanks to its strong institutions, rule of law, and liquid and transparent capital markets. But the price of such luck, she warned, was “complacency” rather than a driver for change.
Ms Wikramanayake said that with a clear majority, government and business needed to start thinking about the “big structural shifts” caused by the unwinding of the global world order.
Wesfarmers chief executive Rob Scott echoed Ms Wikramanayake’s concerns and said Australia “will not be a prosperous nation and the economy will not continue to grow unless business grows.”
“Business provides six out of seven jobs in Australia. High levels of government spending, stimulus and handouts will only keep us going for so long. (There’s) never been a more important time for reform.”
The call to action comes as Macquarie’s chief economist Ric Deverell warned that despite relative calm in equity markets following Donald Trump’s sweeping tariff program, the world faced a “seismic” shift in global trade.
“What we’re seeing now is actually an historic shock,” he said.
“This is just an enormous trading relationship. These are the two biggest economies in the world. They are mutually complementary. If this level of tariff persists for any ******* of time, trade between these two countries will grind to a halt.”
Camera IconHeath Sharp, chief executive of Reliance Worldwide, addresses the Macquarie Australia Conference. Credit: supplied/supplied
Tariffs were top of mind for CEOs at the conference, many of whom are navigating fracturing supply chains.
Heath Sharp, chief executive of ASX-listed plumbing supply company Reliance Worldwide, which exported $120 million worth of product from ******** factories to the US last year, said the firm was looking to completely remove ******** manufacturers from its supply chain.
Entire teams had been repurposed to manage the imposition of tariffs across thousands of products.
“We’ve shifted essentially all of our resources to dealing with this across all regions, not just in the Americas. This is a global issue for us, and it’s all hands on deck,” he said.
Mr Sharp said the company was already feeling the impact on sales from the uncertainty caused by Mr Trump’s policies.
“There are definitely decisions being made or not being made right now. Build out, you know, add another bathroom, build out the basement, buy a new home, sell your home. So that’s been deferred in some cases,” he said.
Camera IconHeath Sharp, chief executive of Reliance Worldwide, addresses the Macquarie Australia Conference. Credit: supplied/supplied
On the other side of the trade war, China was expected to hold out more effectively, according to SGH chief executive Ryan Stokes.
SGH, which supplies equipment to the infrastructure and resources sectors through its Coates and Westrac businesses, was focused on maintaining cost controls in response to client activity. But Mr Stokes remained bullish on China’s resources demand.
“We’re confident in the outlook for China’s economy. They have a pretty substantial domestic economy with the ability to stimulate growth, so they can navigate through trade-related issues,” he said.
“We think that’s going to be strong for iron ore, strong for coal, strong for gas, strong for those primary resources, critical minerals, and gold.”
Mr Stokes said he was also confident that a commitment to increased defence spending, homebuilding, and ‘nation-building’ infrastructure projects would be positive for SGH, but warned the government needed to focus on productivity “so we can afford to have this wage inflation.”
“We’ve got to look at how we get more productive, how we adopt the right technologies that ultimately can drive better growth through the economy, which the private sector is going to have to do,” he said.
While most CEOs were focused on long-term reform, Ingham’s chief executive Andrew Reeves provided a stark reminder of the cost-of-living issue that dominated the election.
One of the largest poultry suppliers in the country, Ingham’s had seen customers downgrade from free-range chicken to cheaper alternatives, turning away from higher-margin products like pre-sliced or marinated cuts.
The company, which recently negotiated a three-year wage deal with four per cent annual increases, said it was investing in automation to reduce labour intensity. Mr Reeves agreed that boosting worker productivity should be a priority of the next Labor term.
“One of the things that would be really helpful is around productivity, labour laws, labour mobility, labour flexibility, those sorts of issues,” Mr Reeves said.
Craig Scroggie, CEO of data centre operator NextDC, with a market capitalisation of $8.7 billion, said the productivity conversation would rapidly evolve in the age of artificial intelligence.
The long-time evangelist for the technology was riding high after shares surged 8 per cent on Tuesday, following a series of major new deals that grew customer numbers by 30 per cent in the first quarter.
Mr Scroggie said AI was the most significant development in his 30 years working in technology, and that Australia had a front-row seat to become a leading adopter and provider, especially given the breakdown in relations between the US and China.
That would be possible, he said, if Australia settled on a comprehensive energy policy that considered all options, including nuclear.
“Now that the election is over, I hope we’ll be able to focus on a solid long-term energy strategy that will allow us to get multiple Net-Zero baseload technologies in place over the course of the next decade or two, rather than one political cycle. I think you’ve got to take a science-based approach, rather than an ideology-based approach,” he said.
Get the AI settings right, and the productivity question could take care of itself.
“Our thinking on how we measure productivity has to continue to evolve,” Mr Scroggie said.
“Using artificial intelligence to improve productivity is probably one of the greatest opportunities that we’ve had in our lifetime, to be able to do more, to have more knowledge, to produce more. The real opportunity is to enhance the workforce we have today, make them more productive and be capable of solving problems we’ve never solved historically.”
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Are new Marvel Rivals buffs and nerfs working? Here's what stats reveal
Are new Marvel Rivals buffs and nerfs working? Here's what stats reveal
NetEase released several Marvel Rivals buffs and nerfs earlier this week, and this is how they’ve affected the game so far.
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Beloved Grocery Chain Announces Plans to Open 800 New Stores
Beloved Grocery Chain Announces Plans to Open 800 New Stores
With so many stories out there about stores closing their doors, it’s refreshing to see that some are expanding and have big plans to grow over the next few years. Such is the case with one longtime grocery store chain, which is sharing its plans to grow and open hundreds of new stores over the next several years.
******* discount grocery chain Aldi is has announced its plans to grow in 2025 and beyond. In February, the chain announced that it would open 225 new stores in 2025, and that’s not all. The 2025 openings are part of a five-year growth schedule to add 800 stores by the end of 2028.
As for the growth in 2025, the 225 stores that Aldi is opening this year will mark “the most stores Aldi will open in one year in its nearly 50-year U.S. history.” The stores will open using a “combination of organic growth and converting select Winn-Dixie and Harveys Supermarket stores to the Aldi format,” according to a release.
According to Aldi, the chain opened roughly 120 stores in 2024, giving it 2,400 total stores in the U.S. and making Aldi the third-largest grocery chain in the U.S. by store count.
In addition to opening stores in its usual markets, Aldi announced on April 24 that it had opened its first two stores in the Las Vegas area this year to help “deepen its presence in the Western U.S.” Also also called itself the “the fastest-growing grocer in the U.S.” and said it would open its third Las Vegas store in May and a fourth by the end of 2025.
“Shoppers shouldn’t have to compromise on quality to save money, and at ALDI, they don’t have to,” Jason Hart, CEO of Aldi, said. “We’ve built our reputation on delivering real value without cutting corners. “With 25% of U.S. households and counting trusting our products and low prices, we’re growing rapidly from coast-to-coast.”
Related: Walmart Announces Important Change for Customers
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Vertex misses quarterly results on weaker-than-expected demand for cystic fibrosis drug, ET HealthWorld
Vertex misses quarterly results on weaker-than-expected demand for cystic fibrosis drug, ET HealthWorld
Bengaluru:: Vertex Pharmaceuticals missed Wall Street estimates for quarterly results on Monday, due to lower-than-expected sales of its cystic fibrosis (CF) drug Trikafta.
However, the drugmaker raised the lower end of its revenue forecast as it looks to its acute pain drug, Journavx, and newer CF drugs to drive growth beyond its established line of treatments.
In December, the U.S. Food and Drug Administration approved Vertex’s next-generation treatment, Alyftrek. This once-daily treatment for a rare and progressive genetic disease further strengthens Vertex’s market dominance in CF treatments.
CF is an inherited disorder resulting from the absence of a specific protein, which disrupts the movement of salt and water in and out of cells in various organs.
In the first quarter ended March 31, sales of the company’s older CF treatment, Trikafta, rose 2% to $2.53 billion but missed analysts’ average expectation of $2.58 billion, according to LSEG data.
Vertex has activated more than 65 authorized treatment centers globally and 90 patients have begun cell collection for its gene therapy Casgevy, which treats a rare blood disorder that requires regular blood transfusions.
Vertex, sees 2025 revenue between $11.85 billion and $12 billion, compared to the previously projected range of $11.75 billion to $12 billion.
Total quarterly revenue rose 2.7% to $2.77 billion, missing analysts’ estimates of $2.85 billion.
On an adjusted basis, the company reported a profit of $4.06 per share for the quarter, compared with analysts’ expectations of a profit of $4.32.
(Reporting by Sriparna Roy and Christy Santhosh in Bengaluru; Editing by Mohammed Safi Shamsi)
Published On May 6, 2025 at 11:52 AM IST
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Fortnite leak shows more rare skins returning soon
Fortnite leak shows more rare skins returning soon
According to the latest Fortnite leak, Epic Games will bring back more rare skins during the Star Wars season.
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Nikola Jokic, Nuggets Stun NBA Fans, Steal Game 1 Win vs. Thunder After Gordon GW Shot – Bleacher Report
Nikola Jokic, Nuggets Stun NBA Fans, Steal Game 1 Win vs. Thunder After Gordon GW Shot – Bleacher Report
Nikola Jokic, Nuggets Stun NBA Fans, Steal Game 1 Win vs. Thunder After Gordon GW Shot Bleacher ReportNuggets grab G1 in OKC on 2nd Gordon winner ESPNThe Denver Nuggets Are Thin, Flawed, and Dangerous The RingerThunder vs. Nuggets: Key matchups, schedule and prediction for epic battle featuring MVP finalists Yahoo SportsNBA playoffs takeaways: Nuggets top Thunder in final seconds, Knicks down Celtics in OT The New York Times
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Fortnite shop to receive a major update, leak shows
Fortnite shop to receive a major update, leak shows
According to a new leak, the Fortnite shop will go through another big update very soon.
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Multiple explosions rock Port Sudan as RSF target key city
Multiple explosions rock Port Sudan as RSF target key city
Explosions have been heard in the Sudanese city of Port Sudan as a paramilitary force targeted the de-facto capital of the country’s military-led government for the third consecutive day.
Thick ****** smoke could be seen at dawn on the skyline of the previously safe city where thousands of people fleeing the two-year civil war have sought refuge.
Flights have been cancelled after drones hit the only functioning international airport and a hotel near the current presidential palace, reports say.
“I see a huge cloud and fire going like all around the city… and I heard also now that they were like two more loud bangs. It looks quite apocalyptic,” a journalist, Cristina Karrer, told the BBC.
One drone targeted the civilian section of the Port Sudan airport and another one hit the main army base in the centre of the city, witnesses told AFP news agency.
A third drone struck “a fuel depot near the southern port,” in the densely populated city centre, where UN officials, diplomats, aid agencies and the Sudan’s army have relocated from the capital Khartoum, AFP reported.
A major hotel located close to the residence of army chief Gen Abdel Fattah al-Burhan was also hit in the attack, the witness said.
The military has blamed the paramilitary Rapid Support Forces (RSF) for the drone attacks which started on Sunday. The RSF is yet to comment on the attacks.
Prior to the attacks on Sunday, Port Sudan had avoided bombardment and was regarded as one of the safest places in the war-ravaged nation.
The paramilitary group has increasingly relied on drones to reclaim its lost territories, including Khartoum which was taken back by the army in March.
The two years of fighting between the army and the RSF has killed thousands, forced millions from their homes and created the world’s world’s worst humanitarian crisis.
Both the army and RSF have been accused of war crimes.
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