Zelensky says White House clash was 'regrettable' – BBC.com
Zelensky says White House clash was 'regrettable' – BBC.com
Zelensky says White House clash was ‘regrettable’ BBC.comZelensky Offers Terms to Stop Fighting, Assuring U.S. That Ukraine Wants Peace The New York TimesZelensky Offers Partial Ceasefire With Russia To Restart Peace Talks, Calls Spat With Trump ‘Regrettable’ The Times of IndiaZelenskyy says Ukraine ‘ready’ for peace negotiations, calls Trump meeting ‘regrettable’ Fox NewsZelensky describes Oval Office meeting as ‘regrettable,’ says he is ready to negotiate peace CNN
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Grand Theft Auto 5’s Enhanced edition is now available for PC
Grand Theft Auto 5’s Enhanced edition is now available for PC
Rockstar has released an updated version of Grand Theft Auto 5 for PC.
This new version of the game, which the studio calls GTA 5 Enhanced, introduces features previously only available on Xbox Series X/S and PS5, plus modern PC enhancements including ambient occlusion and global illumination.
Players who currently own GTA 5 on PC can upgrade to the new version for free, while anyone buying the game on PC for the first time will get the Enhanced edition along with the original Legacy version.
The latter will also remain available to existing owners, meaning anyone whose PC doesn’t meet the minimum system requirements of the upgrade can still play.
PC players on the Legacy and Enhanced versions will be separated, meaning those who want to play with friends will need to be playing the same edition.
The PC upgrade includes a number of GTA Online features previously exclusive to next-gen consoles, including additional vehicles and upgrades at Hao’s Special Works, a Career Progress feature, a refreshed Landing Page, and Ambient Animals encounters.
For the first time on PC, players can now also purchase GTA+, GTA Online’s premium subscription offering.
“PC players on the newly upgraded version running with the recommended specifications can enjoy ray tracing features only available on PC, such as ambient occlusion and global illumination — plus ray traced shadows and reflections that first debuted on the PS5 and Xbox Series X/S versions,” Rockstar said.
“There is also support for AMD FSR and NVIDIA DLSS (with Frame Generation support planned for both at a future date), and DualSense controller support with adaptive triggers.
“Plus, faster loading times using SSD and DirectStorage on supported devices and configurations, enhanced support for higher resolutions, higher aspect ratios, and higher framerates, as well as enhanced audio with support for Dolby Atmos and improved fidelity of speech, cinematics, and music.”
Rockstar is currently gearing up to launch Grand Theft Auto 6 for PS5 and Xbox Series X/S. Last month, its parent company Take-Two said that GTA 6 is still on track to release in the fall of 2025.
On Monday, Rockstar announced the acquisition of long-time development partner Video Games Deluxe. The Sydney-based studio, which will be renamed Rockstar Australia, was founded by Brendan McNamara, who previously directed The Getaway for Sony before establishing LA Noire studio Team Bondi.
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Zelensky (Almost) Says Sorry
Zelensky (Almost) Says Sorry
Ukrainian President ready to work under Trump’s leadership after “regrettable” showdown.
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CFPB drops Zelle lawsuit in latest reversal under Trump administration
CFPB drops Zelle lawsuit in latest reversal under Trump administration
The Consumer Financial Protection Bureau has its lawsuit over peer-to-peer payment system Zelle, the latest in a of dismissals from this department under President Donald Trump’s administration. The agency had only just announced the suit — filed against Zelle’s operating entity Early Warning Services and partner banks JPMorgan Chase, Bank of America and Wells Fargo – . According to the initial action, the CFPB said that customers of the three banks had lost more than $870 million during the seven years Zelle has been active.
The CFPB made several moves to on the financial products offered by tech companies under its previous director, Rohit Chopra. However, the agency is now overseen by Acting Director Russell Vought, who ordered the CFPB to all “supervision and examination activity” last month. While employees of the bureau have to try to keep the CFPB alive, there have been from government leadership about the agency’s status.
Since taking office, Trump and ally Elon Musk have taken sweeping actions to control and close federal government departments. Agencies that have historically Musk’s business activities have been among those with reduced powers, as have federal operations for , and .
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Israel's security agency admits failures over October 7
Israel's security agency admits failures over October 7
Calls are growing in Israel for a national inquiry into the government’s failures on October 7, 2023, when ****** killed 1200 people and took 250 hostages.
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Zelenskiy instructs defence minister to secure precise information on US military assistance
Zelenskiy instructs defence minister to secure precise information on US military assistance
(Reuters) – Ukrainian President Volodymyr Zelenskiy said on Tuesday he had instructed his defence minister and other officials to secure precise information on military supplies after the United States announced it was pausing assistance.
“I have instructed Ukraine’s minister of defence, intelligence chief and diplomats to contact their counterparts in the United States and obtain official information,” Zelenskiy said in his nightly video address. “People should not be left to guess.”
He said maintaining a “normal, partnership relationship with America is crucial for truly ending the war. None of us wants an endless war.”
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Zelenskiy said Ukraine sought “constructive cooperation and true partnership” with Washington and again expressed regret over the acrimonious exchanges during his meeting last week in the Oval Office in Washington.
“What happened at the White House, instead of our planned negotiations, was regrettable,” he said. “But we must find the strength to move forward, respect one another – as we have always respected America.”
Zelenskiy also noted that Russia more than three years into the war had not altered its positions on Ukraine.
“They will demand a reduction of our army, they will want a legal renunciation of our territories and also a significant political deformation of the Ukrainian constitution,” he said.
“In reality as long as we in Ukraine all stand together and strong, as long as we are here, no one will succeed in this. Our peace will be a dignified one.”
(Reporting by Ron Popeski; Editing by Chris Reese and Sandra Maler)
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Canada, Mexico tariffs create ‘ripple effects’ on consumer prices
Canada, Mexico tariffs create ‘ripple effects’ on consumer prices
Port Newark Container Terminal on March 3, 2025 in Newark, New Jersey.
Kena Betancur/View Press | Getty Images News | Getty Images
Tariffs on Canada and Mexico took effect Tuesday — and they’re bound to raise prices for consumers, sometimes in unexpected ways, according to economists.
Tariffs are a tax on foreign imports, paid by the United States entity importing a particular good.
President Trump on Tuesday imposed a 25% tariff on Canada and Mexico, the two largest trading partners of the United States. Trump set a lower 10% tariff on ********* energy.
Businesses typically pass along some of the additional cost of tariffs to consumers, economists said.
Certain products like fruits and vegetables from Mexico and oil from Canada — which are among their major exports to the U.S. — will get more expensive as a result, economists said.
But there are also far-reaching impacts across supply chains that aren’t as clear-cut, they said.
“Tariffs create ripple effects that move through complex supply chains in ways that aren’t always obvious,” Travis Tokar, professor of supply chain management at Texas Christian University, wrote in an e-mail.
Such dynamics make it challenging to predict precise product and price impacts, Tokar said.
For example, take a fast-food chicken sandwich. While none of its ingredients may come directly from Canada or Mexico, the aluminum foil used in its packaging might — driving up costs that could be passed on to consumers, Tokar said.
Nearly everything consumers buy is transported by trucks fueled by refined oil products — meaning the impact of tariffs on ********* crude oil “could be much broader than it appears at first glance,” Tokar said.
The U.S. sources almost half of its foreign fuel from Canada, according to the Peterson Institute for International Economics.
“Costs eventually have to go through the supply chain” to the end consumer, said Mary Lovely, a senior fellow at the Peterson Institute for International Economics.
How much tariffs may cost the typical person
The U.S. traded $1.6 trillion of goods with Canada and Mexico in 2024, accounting for more than 30% of total U.S. trade, according to Census Bureau data as of December.
Tariffs on Canada and Mexico are expected to cost the average American household $930 in 2026, according to a January analysis by the Urban-Brookings Tax Policy Center.
More from Personal Finance:Who benefits from Trump tax cuts?Americans are suffering from ‘sticker shock’How the U.S. has used tariffs throughout history
The levies would cost the typical household $1,200 a year after also accounting for tariffs on China, according to a PIIE analysis. (The analysis only considered a 10% tariff on ******** imports that Trump imposed in February; he put another 10% tariff in place Tuesday.)
That PIIE assessment of consumer impact is “conservative,” said Lovely.
For one, it doesn’t factor how domestic manufacturers would likely respond to less foreign competition, she said.
“These tariffs will increase the price of imported goods,” and domestic producers would likely raise their prices to “match” those of their foreign counterparts, said Alexander Field, an economics professor at Santa Clara University.
‘Hugely disruptive’ for auto sector
Consumer impact will also depend on the particular industry and company.
Economists expect the automobile industry to be the most impacted sector, since automakers have extensive supply chains built up across North America.
A new car that’s assembled in Alabama, for example, may seem unaffected by the tariffs — but many of those car parts may come from Mexico or Canada, Tokar said.
Major automakers like Ford, General Motors and Stellantis may “face higher production costs due to the reliance on cross-border supply chains for parts and vehicles,” according to a Bank of America Global Research note on Monday.
All told, Canada and Mexico tariffs could add almost $6,000 to the cost of a car, according to an estimate from investment bank Benchmark Co. in February. That dynamic is expected to drive up car insurance premiums.
“This will be hugely disruptive for the auto industry,” said Douglas Irwin, an economics professor at Dartmouth College and author of “Clashing over Commerce: A History of U.S. Trade Policy.”
Fresh produce could see swift price hikes
President Donald Trump signs an executive order in the Oval Office on Feb. 25, 2025. Trump directed the Commerce Department to open an investigation into potential tariffs for copper imports.
Alex Wong | Getty Images News | Getty Images
Brian Cornell, the CEO of Target, said Mexico tariffs could force the company to raise prices on fruits and vegetables — including strawberries, avocados and bananas — within a few days.
Food prices overall would rise nearly 2% in the short term, according to a Yale budget Lab analysis of Canada, Mexico and China tariffs. Fresh produce prices would rise almost 3%.
Construction materials are also a big export from Canada — including more than 40% of U.S. imports of wood products, according to PIIE.
“If you’re doing a renovation this summer, you’re kind of out of luck,” Lovely said.
Big corporations may be in a position to absorb some of the tariff cost, instead of passing on everything to consumers, Lovely said. But agricultural producers may not be in a position to do that, for example, since there are often “very low margins across the supply chain,” she said.
Even businesses that absorb some of the cost — to avoid immediate sticker shock for consumers — means they have less profit to invest in new equipment, hire workers or develop new products, which creates an “economic drag that is less visible but still significant,” Tokar said.
Retaliation also has an effect
Consumers would also be impacted by foreign retaliation on U.S. trade — something to which officials in Mexico, Canada and China have already committed.
“You don’t put these kinds of tariffs in place without expecting retaliation, and that’s happening right now,” said Field.
********* Prime Minister Justin Trudeau on Tuesday announced a 25% levy on C$30 billion worth of U.S. imports, effective immediately. Tariffs on another C$125 billion in U.S. goods will take effect in 21 days, he said.
Trump responded to the measures Tuesday by vowing additional tariffs on Canada.
Ontario will impose a 25% tax on electricity it exports to 1.5 million homes in Minnesota, Michigan and New York in retaliation to Trump’s tariffs, Doug Ford, the province’s leader, told The Wall Street Journal.
China also announced retaliatory tariffs of up to 15% targeted at U.S. agriculture. U.S. corn will face a 15% levy, while soybeans will be hit with a 10% duty, for example. ******** President Claudia Sheinbaum plans to announce retaliatory measures on Sunday.
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Best stocks to own during a trade war, according to Evercore ISI
Best stocks to own during a trade war, according to Evercore ISI
Low volatility stocks such as Apple and AbbVie could emerge as winners in a trade war, according to Evercore ISI. Weeks of simmering trade tensions have erupted into a global trade war as President Donald Trump ‘s tariffs on key trade partners Canada and Mexico took effect on Tuesday, leading to retaliatory measures and fears about economic stagnation. The S & P 500 , Nasdaq Composite and Dow Jones Industrial Average are down about 2% week to date as a result. Low volatility stocks outperformed in February trading as signs of the trade war emerged and uncertainty weighed on markets, Evercore found. These stocks also outperformed during similar trade tensions and tariff uncertainties in 2018, during Trump’s first presidential term. “Defense remains the best offense,” senior managing director Julian Emanuel wrote in a Monday note to clients. “With Trade War 2.0 moving to the next act with more tariffs scheduled to come into force starting 3/4, EVR ISI Strategy sees the battle as having been joined, with low volatility leading defensive factor performance in the weeks and months ahead.” He listed a slew of “trade war heroes.” These names are Russell 3000 stocks that are in the top quintile for low volatility and buybacks. Take a look at the stocks: A slew of health-care giants — including AbbVie , Centene , Humana , DaVita and UnitedHealth Group — could perform well during this trade war, according to Evercore. Health-care stocks are generally considered a defensive hedge in an investment portfolio, as they tend to hold up better than more growth-oriented sectors during an economic slowdown. These stocks mentioned by Evercore have varying performances in 2025, but year to date, the health-care sector is up 8% — making it the top S & P 500 in the *******, per FactSet data. AbbVie is one name that’s having a strong 2025, up 17%. The company posted fourth-quarter results that topped Wall Street’s estimates in late January, and it recently entered the high-flying obesity space. DaVita’s shares are down nearly 4% this year, but the kidney health company could be poised for a breakout. A recent chart analysis suggests that DaVita could see strong long-term performance compared to the S & P 500. Apple also made the cut as a strong defensive pick. The tech giant has seen shares drop 4.7% this year. Ben Reitzes, head of technology research at Melius Research, said earlier this week that Apple has become the safe-haven play of the “Magnificent Seven” since the DeepSeek emergence, as more use of artificial intelligence could lead to a new upgrade cycle for iPhones. Other stocks that could give investors a measure of safety during this trade war are defense stocks Booz Allen Hamilton and Lockheed Martin . Booz Allen is off nearly 16% in 2025, while Lockheed is down more than 6%. These two stocks have suffered this year on concerns that the U.S. could significantly cut defense spending. However, defense contractors are considered to be less tied to the broader market’s performance and therefore more reliable during periods of volatility, as they are more dependent on government budgets and war-related activities rather than the state of the economy.
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Sources: Eagles make Barkley NFL's top-paid RB – ESPN
Sources: Eagles make Barkley NFL's top-paid RB – ESPN
Sources: Eagles make Barkley NFL’s top-paid RB ESPNEagles reportedly make Saquon Barkley highest-paid RB in NFL history with $41.2M extension Yahoo SportsPhiladelphia Eagles reward Saquon Barkley with $41.2M extension, ESPN sources say 6ABC PhiladelphiaEagles reward Saquon Barkley for incredible 2024 season NBC Sports Philadelphia
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#Sources #Eagles #Barkley #NFL039s #toppaid #ESPN
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******* police charge man with ******* over car attack
******* police charge man with ******* over car attack
******* police have charged a man with double ******* after he was suspected of driving a car at speed into pedestrians in the southwestern city of Mannheim, killing two people and leaving 11 injured.
The Mannheim public prosecutor’s office said in a statement that the 40-year-old ******* citizen was also being charged with five counts of attempted ******* alongside grievous bodily harm and 11 counts of actual boldly harm.
“Items seized from the man, in his vehicle and in his home, such as a gun, written documents and digital data carriers, are currently being forensically examined and analysed,” the statement said.
An 83-year-old woman and a 54-year-old man were killed in Monday’s incident.
Prosecutors have said the suspect displays evidence of a psychological disorder.
He was transferred from hospital to police custody on Tuesday.
Media reports said he received treatment after shooting himself in the mouth with a blank round as he was arrested.
Investigators searched his flat in the nearby city of Ludwigshafen late on Monday and seized a number of items, the DPA news agency has learnt.
The car involved is registered to him.
Investigators were hoping that interrogation would provide information about the motive for the incident that occurred on Monday, which police called a targeted attack.
Handwritten notes have been discovered on the car’s dashboard containing mathematical formulas for speed and braking distance.
In 2010, the Mannheim public prosecutor’s office brought a case against the man for the unauthorised carrying of a blank-firing gun.
He was fined by a district court.
The attack took place at the busy Paradeplatz square in central Mannheim, a city of approximately 320,000 people that lies about 80km south of Frankfurt.
Witnesses reported seeing a car speeding down a major shopping thoroughfare before striking pedestrians.
During a church service on Tuesday, the victims were remembered.
“We are startled and at the same time petrified,” said the deputy dean of the Protestant church, Anne Ressel.
“The life of the city, the joy of Carnival, has been replaced by horror within minutes.”
Mannheim mayor Christian Specht thanked a taxi driver of Pakistani origin who stopped the fleeing driver.
“He behaved so courageously, drove after the perpetrator and ultimately blocked his vehicle to prevent further damage,” he said.
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Stock Market Today: Dow Jones Remains Lower, Nasdaq Trims Losses As Tariffs Kick In; Nvidia Reverses Higher (Live Coverage)
Stock Market Today: Dow Jones Remains Lower, Nasdaq Trims Losses As Tariffs Kick In; Nvidia Reverses Higher (Live Coverage)
The Dow Jones Industrial Average remained lower as President Donald Trump’s tariff tactics rattled investors, but indexes were well off session lows in afternoon trading. Meanwhile, Nvidia (NVDA) reversed higher, while Palantir Technologies (PLTR) and Tesla (TSLA) remained in negative territory on the stock market today. As planned, 25% tariffs on Canada and Mexico imports took effect at midnight. Also,…
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Goldman Sachs rolls out suite of downside protection ETFs as market volatility picks up
Goldman Sachs rolls out suite of downside protection ETFs as market volatility picks up
s Goldman Sachs Asset Management has thrown its hat into the ring of increasingly popular buffer exchange-traded funds, just as the stock market is showing some signs of fragility. On Tuesday, the firm announced the launch of the Goldman Sachs U.S. Large Cap Buffer 3 ETF (GBXC). That follows two similar funds that launched in recent months. Each fund resets on a quarterly basis, meaning investors now have a fresh version to choose from every month. Buffer funds fall into a category called defined outcome products that has attracted billions of dollars from investors in recent years. Buffer funds use derivatives, often in the form of equity-linked notes, to trade off some potential upside in the market for downside protection. There is a wide variety of buffer funds on the market, with various levels of protection and upside participation. In the case of the new Goldman funds, they will protect against losses from 5% to 15% in the market, represented by the underlying SPDR Portfolio S & P 500 ETF (SPLG) . In exchange, the funds have upside caps of between 5% and 7%. Brendan McCarthy, global head of ETF distribution at Goldman Sachs Asset Management, said the firm believes that the 5% to 15% range is the “sweet spot.” “The feedback we were getting from clients was, I’m in the marketplace. I can live with down a few percent. That’s kind of like what I expect. It gets painful when I’m talking down 5 to down 15,” McCarthy said. Two key differences with the Goldman funds from other buffer funds is that most of the competitors reset annually instead of quarterly, and the Goldman funds have an additional floor built in. In addition to the 5%-15% protection band, the funds have an extra buffer that kicks in when the market is down roughly 25%, limiting total possible losses in each outcome ******* to approximately 15%. How the funds work Buffer funds are designed to be bought on or very near to the reset date and held throughout the entire *******. The price of the fund can fall by more than the buffer zone indicates during the interim *******, based on how options pricing changes over time. “You could show a loss in your position, but as long as you hold on to it to the next reset, then you’ll get the published parameters,” said Stuart Chaussee, a registered investment advisor based in Beverly Hills, California, who regularly uses buffer ETFs from multiple fund issuers. While the funds are designed for each outcome *******, their impacts can compound over time if investors hold them through multiple resets. For example, if the market falls sharply one quarter but rallies the next, the rally in a buffer fund would come from a higher starting place. “These are meant to basically kind of help you to sink less deeply to help you recover faster,” said Oliver Bunn, portfolio manager and global head of the quantitative investment strategies alternatives team within Goldman Sachs Asset Management. Of course, the same is true in the opposite case. The performance of a buffer fund would suffer over time if the market was steadily climbing and exceeding the upside cap. Some of the biggest other players in the buffer fund space are Innovator, First Trust and Allianz. The new Goldman Sachs funds have a 0.50% fee, which is cheaper than many of the largest buffer funds already on the market. Market environment ETF launches are typically a monthslong process, and timing them to certain market periods is difficult. Still, the Goldman funds could be coming at just the right time for early adoption. On Monday, the S & P 500 fell 1.76%, its worst session since December. The index is now 4.84% below its record highs. .SPX YTD mountain The S & P 500 is off to a rough start in 2025. Chaussee said clients often come to him asking about buffer funds when volatility picks up. “With all the uncertainty that we have now and the fact that stocks are trading at lofty multiples, that’s when you may well have some protection on,” Chaussee said.
Goldman Sachs and Morgan Stanley seen at the New York Stock Exchange on Feb. 13, 2025.
Danielle DeVries | CNBC
Goldman Sachs Asset Management has thrown its hat into the ring of increasingly popular buffer exchange-traded funds, just as the stock market is showing some signs of fragility.
On Tuesday, the firm announced the launch of the Goldman Sachs U.S. Large Cap Buffer 3 ETF (GBXC). That follows two similar funds that launched in recent months. Each fund resets on a quarterly basis, meaning investors now have a fresh version to choose from every month.
GSAM Buffer ETFsFund Ticker Launch Month GS U.S. Large Cap Buffer 1 ETFGBXAJanuaryGS U.S. Large Cap Buffer 2 ETFGBXBFebruaryGS U.S. Large Cap Buffer 3 ETFGBXCMarch
Source: Goldman Sachs Asset Management
Buffer funds fall into a category called defined outcome products that has attracted billions of dollars from investors in recent years. Buffer funds use derivatives, often in the form of equity-linked notes, to trade off some potential upside in the market for downside protection.
There is a wide variety of buffer funds on the market, with various levels of protection and upside participation. In the case of the new Goldman funds, they will protect against losses from 5% to 15% in the market, represented by the underlying SPDR Portfolio S&P 500 ETF (SPLG). In exchange, the funds have upside caps of between 5% and 7%.
Brendan McCarthy, global head of ETF distribution at Goldman Sachs Asset Management, said the firm believes that the 5% to 15% range is the “sweet spot.”
“The feedback we were getting from clients was, I’m in the marketplace. I can live with down a few percent. That’s kind of like what I expect. It gets painful when I’m talking down 5 to down 15,” McCarthy said.
Two key differences with the Goldman funds from other buffer funds is that most of the competitors reset annually instead of quarterly, and the Goldman funds have an additional floor built in. In addition to the 5%-15% protection band, the funds have an extra buffer that kicks in when the market is down roughly 25%, limiting total possible losses in each outcome ******* to approximately 15%.
How the funds work
Buffer funds are designed to be bought on or very near to the reset date and held throughout the entire *******. The price of the fund can fall by more than the buffer zone indicates during the interim *******, based on how options pricing changes over time.
“You could show a loss in your position, but as long as you hold on to it to the next reset, then you’ll get the published parameters,” said Stuart Chaussee, a registered investment advisor based in Beverly Hills, California, who regularly uses buffer ETFs from multiple fund issuers.
While the funds are designed for each outcome *******, their impacts can compound over time if investors hold them through multiple resets. For example, if the market falls sharply one quarter but rallies the next, the rally in a buffer fund would come from a higher starting place.
“These are meant to basically kind of help you to sink less deeply to help you recover faster,” said Oliver Bunn, portfolio manager and global head of the quantitative investment strategies alternatives team within Goldman Sachs Asset Management.
Of course, the same is true in the opposite case. The performance of a buffer fund would suffer over time if the market was steadily climbing and exceeding the upside cap.
Some of the biggest other players in the buffer fund space are Innovator, First Trust and Allianz. The new Goldman Sachs funds have a 0.50% fee, which is cheaper than many of the largest buffer funds already on the market.
Market environment
ETF launches are typically a monthslong process, and timing them to certain market periods is difficult. Still, the Goldman funds could be coming at just the right time for early adoption.
On Monday, the S&P 500 fell 1.76%, its worst session since December. The index is now 4.84% below its record highs.
Stock Chart IconStock chart icon
The S&P 500 is off to a rough start in 2025.
Chaussee said clients often come to him asking about buffer funds when volatility picks up.
“With all the uncertainty that we have now and the fact that stocks are trading at lofty multiples, that’s when you may well have some protection on,” Chaussee said.
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C.D.C. Sends ‘Disease Detectives’ to Texas for Measles Outbreak – The New York Times
C.D.C. Sends ‘Disease Detectives’ to Texas for Measles Outbreak – The New York Times
C.D.C. Sends ‘Disease Detectives’ to Texas for Measles Outbreak The New York TimesMeasles Outbreak Continues to Spread in West Texas The New York TimesTexas measles outbreak 2025: 159 cases confirmed since late January FOX 4 News Dallas-Fort WorthROBERT F. KENNEDY JR.: Measles outbreak is call to action for all of us Fox NewsCDC says it’s on the ground in Texas as measles outbreak grows to 159 cases CNN
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Tropical Cyclone Alfred’s impact to be felt from Wednesday as ‘destructive core’ approaches Queensland coast
Tropical Cyclone Alfred’s impact to be felt from Wednesday as ‘destructive core’ approaches Queensland coast
Tropical Cyclone Alfred’s impact is expected to be felt from Wednesday as the system’s “destructive core” bears down on the Queensland coast.
The category two cyclone was about 465km east of Brisbane and 430km east of the Gold Coast as of Wednesday morning, moving west at 11km/h.
It is expected to make landfall between the Sunshine Coast and the Gold Coast late Thursday or early Friday, with the Bureau of Meteorology forecasting the cyclone will maintain its category two intensity as it approaches the coast.
The Bureau of Meteorology declared a warning zone between Double Island Point in Queensland to Grafton in NSW, which includes Brisbane, the Gold Coast, the Sunshine Coast, Byron Bay and Ballina but not including Grafton.
A watch zone was also issued for Sandy Cape to Double Island Point in Queensland, including K’Gari.
Camera IconThe affects from Cyclone Alfred are tipped to be felt as the ‘destructive core’ approaches the coast. Bureau of Meteorology. Credit: Supplied
Gales with damaging wind gusts of up to 120km/h are expected to hit from Wednesday, with warnings issued for communities between Double Island Point in Queensland and Grafton in NSW.
Residents between Double Island Point and Sandy Cape could be affected on Thursday if the cyclone moves further north.
Destructive wind gusts of up to 155km/h may develop from Thursday afternoon along coastal and island areas “as Alfred’s destructive core approaches and crosses the coast”, the Bureau alert stated.
Camera IconCyclone Alfred is tipped to make landfall on Thursday or Friday. Windy.com Credit: Supplied
A dangerous storm tide may also occur along the coastal foreshore, while abnormally high tides are likely to continue in low lying coastal areas between Sandy Gape and Grafton, particularly during high tides on Wednesday night, and Thursday and Friday morning and night.
Coastal erosion is likely for open beaches in those areas, the Bureau warned, while heavy to locally intense rainfall with the potential to lead to dangerous and life-threatening flash flooding could occur near and south of the cyclone’s centre on Thursday.
Brisbane Lord Mayor Adrian Schrinner said nearly 20,000 properties across Brisbane could be affected by storm surge or flooding according to new modelling.
Brisbane City Council buses are set to cease from last service on Wednesday, The Courier Mail reported, while Queensland Rail Trains are tipped to stop once either winds reach 90km/h or the cyclone is 200km or 10 hours away from hitting land.
‘Prepare for the worst’: Minns
NSW Premier Chris Minns earlier urged people to listen to emergency communications and not to put themselves or volunteer rescue workers at risk by not driving through floodwaters.
“We hope for the best, but we prepare for the worst,” Mr Minns said on Today.
Just days on from the three year anniversary of the Lismore floods Mr Minns said this cyclone warning “brings back all the worst horrors of 2022”.
Events cancelled, postponed due to ‘seriously ****** weather’
Several events have been cancelled or postponed as the cyclone nears, including two AFL opening round matches.
Brisbane’s Thursday game against Geelong at the Gabba was postponed along with Gold Coast’s match against Essendon at People First Stadium on Saturday, the AFL said in a statement, following communication with the state government, Bureau of Meteorology and Stadiums Queensland.
AFL chief executive officer Andrew Dillon said he didn’t want the games to “be a distraction” to cyclone preparations.
An alternate schedule will be announced as soon as possible, the AFL said.
Punk rock band Greenday announced their Wednesday night Gold Coast show was cancelled due to the cyclone, with it “not possible to reschedule” due to the band’s international touring schedule.
“With Cyclone Alfred bringing some seriously ****** weather, it’s just not possible to go ahead safely,” the band said in a statement posted on social media.
“We know this is a huge disappointment, and we’re just as bummed as you are. Stay safe out there!”
Refunds will be processed within 14-21 days, Live Nation wrote in a post to Facebook
More to come …
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Is the S&P 500 Road to 6400-6500 in Jeopardy?
Is the S&P 500 Road to 6400-6500 in Jeopardy?
Using the Elliott Wave Principle (EWP), we have been successfully tracking the most likely path forward for the (SPX) over several months. Although there are many ways to navigate the markets and to each their own, we find the EWP to be the most reliable and accurate. Namely, already in November last year,:
“Ending Diagonals (EDs) are tricky because all their waves (i-ii-iii-iv-v) comprise three waves: 3-3-3-3-3 = abc-abc-abc-abc-abc. Besides, W-iii typically targets the 123.60% extension of W-i, measured from W-ii. The W-iv then tends to correct back to the 61.80% extension, after which the last W-v targets the 161.80% extension. In this case, we are looking at W-iii to reach at least SPX6060, W-iv should bottom around SPX5725, and W-v can reach at least SPX6260.”
(Red) W-iii topped December 6 at $6099, and (red) W-iv may have bottomed out on January 13 at SPX5773, while (red) W-v only reached $6147 on February 19. See Figure 1 below. The former two waves reached their ideal Fibonacci-based target zones (green squares) for an ED, whereas the latter fell well short of it (blue target zone).
Therefore, our unfortunately wholly missed the mark. It shows one cannot be always right, and after such a long streak of being on point, a miss is to be expected at some stage.
Figure 1. Alternate Elliott Wave Principle count for the SP500
However, we were humble enough to recognize that:
“We must keep our Bullish stance until proven otherwise. What would that be? A break below the 3rd (orange) warning level -The February 3 low- at $6003 for starters, but ultimately, the January 13 low at $5773 remains the Bull-Bear line in the sand. Our preferred EW count is wrong if the market moves below these levels.”
As such, the break below $6003 already warned us and our premium members ahead of time of worse things to come. That said, let’s go back to the current price action. Although price is the final arbiter, and the markets do not owe us anything, i.e., they do not have to reach ideal target zones, such a big miss is uncommon and troubling for this potential wave count.
As such, the index is more likely to complete an irregular expanded flat in EWP terms: W>c>b>a. See Figure 2 below. Besides, the index came within 5p of the ideal 61.80% extension of red W-i, measured from red W-ii, at today’s low, which is as close to the perfect target as possible for a 4th wave in an ED, and coincidentally coincides with the (red) 200-day simple moving average.
Figure 2. Preferred Elliott Wave Principle count for the SP500
If the index can hold today’s low, especially the (orange) $5650 level, we can look forward to ideally the (red) 161.80% Fib-extension at $6260.
Lastly, sentiment has become highly bearish even though the index made an all-time high less than two weeks ago and has only lost ~6.8% top-to-bottom. Meanwhile, seasonality is turning bullish. See Figure 3 below.
Last week’s AAII’s bearish sentiment, expectations that stock prices will fall over the next six months, was 60.6%, which is unusually high and is above its historical average of 31.0% for the 13th time in 15 weeks. It was last higher on September 29, 2022, (60.8%) and was the seventh-highest reading in the survey’s history!
CNN’s Fear and Greed Index has been below 25, which is extreme fear territory, for over a week now. However, the average seasonality during the post-US election years shows that the SP500 tends to bottom out around late February.
Figure 3. Sentiment and Seasonality
Although these conditions are not trade triggers, and seasonality is only an average, it aligns with our “irregular expanded flat” W-iv EWP count.
Thus, our Elliott Wave analysis provides specific levels to watch. How the market reacts to those combined with the structure of that reaction will tell us how to adjust if needed: all we can do is anticipate, monitor, and adjust if necessary. Our preferred EW count went off track, but as we stated last, “we’re simply monitoring its progress to see if it aligns with the market’s price action. If yes, stay long and keep monitoring. If not, adjust and take appropriate trading action.”
Over the last weeks, we monitored the index, found it started to diverge from our preferred EWP count, and adjusted accordingly. As such, we must also lower the ideal upside target from $6400-6500 to $6260. Thus, now the Bulls have a last chance to reach that level. However, once reached, a much larger correction can start, if not an outright multi-year Bear market.
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Trump lawyer Alina Habba questions fired veterans’ fitness
Trump lawyer Alina Habba questions fired veterans’ fitness
(L-R) Attorney Alina Habba speaks as US former President and Republican presidential candidate Donald Trump looks on during a press conference at Trump Tower in New York City on September 6, 2024.
Charly Triballeau | AFP | Getty Images
President Donald Trump’s top lawyer Alina Habba on Tuesday questioned whether some military veterans fired from federal government jobs as part of an ongoing workforce reduction are capable of working or willing to do so.
“You know, we care about veterans tremendously,” Habba told reporters at the White House.
“But at the same time, we have taxpayer dollars, we have a fiscal responsibility to use taxpayer dollars to pay people that actually work,” said Habba, who holds the title of Trump’s counselor.
“We’re going to care for them in the right way, but perhaps they’re not fit to have a job at this moment, or not willing to come to work,” she said.
“And we can’t, you know, I wouldn’t take money from you and pay somebody and say sorry, you know … they’re not going to come to work,” Habba said. “It’s just not acceptable.”
The Trump administration is engaged in a wide-ranging effort to cut the number of federal workers. How that is being done, and the personal stories of individuals such as veterans and others affected by the cuts, has led to blowback among the public.
Habba spoke hours before Trump was set to address a joint session of Congress.
Senate Democrats, in a press release Tuesday, said their guests for that speech would “include veterans indiscriminately fired as part of the Trump Administration’s mass terminations of federal government employees.”
********* Leader Chuck Schumer, D-N.Y., for example, has invited as his guest Alissa Ellman, a disabled, toxic-exposed Army veteran who was illegally and indiscriminately fired from her job at the Buffalo VA during VA Secretary [Doug] Collins’ mass terminations of VA employees and veterans,” the release said.
Veterans make up around 30% of the total federal workforce, according to a report by the Office of Personnel Management.
As of September 2021, nearly 640,000 veterans were employed in that workforce. Of that tally, 53% were disabled,
The chair of the National Republican Congressional Committee has advised GOP lawmakers to stop holding in-person town halls on the heels of several events that featured attendees strongly criticizing members of Congress.
Read more CNBC politics coverage
At an event Saturday in his home state of Kansas, Republican Sen. Roger Marshall left early after being grilled by some attendees about federal job cuts and other issues.
One attendee, Chuck Nunn, identified himself as a conservative Democrat, who told Marshall he supported the Trump administration’s efforts to reduce fraud and waste in government spending.
“But I think the way we are going about it is so wrong because there are unintended consequences,” Nunn said, according to High Plains Public Radio.
“I support the veterans. But what you’re doing right now, what the government is doing right now, as far as cutting out those jobs, a huge percent of those people, and I know that you care about the veterans, are veterans,” Nunn said.
“And that is a damn shame,” Nunn said. “That is a damn shame.”
Marshall left the town hall after Nunn’s statement.
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Exclusive-US and Ukraine prepare to sign minerals deal on Tuesday, sources say
Exclusive-US and Ukraine prepare to sign minerals deal on Tuesday, sources say
By Erin Banco, Gram Slattery and Andrea Shalal
NEW YORK (Reuters) – U.S. President Donald Trump’s administration and Ukraine plan to sign the much-debated minerals deal following a disastrous Oval Office meeting Friday in which Ukrainian President Volodymyr Zelenskiy was dismissed from the building, four people familiar with the situation said on Tuesday.
President Donald Trump has told his advisers that he wants to announce the agreement in his address to Congress Tuesday evening, three of the sources said, cautioning that the deal had yet to be signed and the situation could change.
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The White House did not immediately respond to a request for comment.
Ukraine’s presidential administration in Kyiv and the Ukrainian embassy in Washington did not immediately respond to requests for comment.
The deal was put on hold on Friday after a contentious Oval Office meeting between Trump and Ukrainian President Volodymyr Zelenskiy that resulted in the Ukrainian leader’s swift departure from the White House. Zelenskiy had traveled to Washington to sign the deal.
In that meeting, Trump and Vice President JD Vance berated Zelenskiy, telling him he should thank the U.S. for its support rather than asking for additional aid in front of the U.S. media.
“You’re gambling with World War III,” Trump said.
U.S. officials have in recent days spoken to officials in Kyiv about signing the minerals deal despite Friday’s blow-up, and urged Zelenskiy’s advisers to convince the Ukrainian president to apologize openly to Trump, according to one of the people familiar with the matter.
On Tuesday, Zelenskiy posted on X that Ukraine was ready to sign the deal and calling the Oval Office meeting “regrettable.”
“Our meeting in Washington, at the White House on Friday, did not go the way it was supposed to be,” Zelenskiy said in his post. “Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer.”
It was unclear if the deal has changed. The deal that was to be signed last week included no explicit security guarantees for Ukraine but gave the U.S. access to revenues from Ukraine’s natural resources. It also envisaged the Ukrainian government contributing 50% of future monetization of any state-owned natural resources to a U.S.-Ukraine managed reconstruction investment fund.
On Monday, Trump signaled that his administration remained open to signing the deal, telling reporters in a gaggle that Ukraine “should be more appreciative.”
“This country has stuck with them through thick and thin,” Trump said. “We’ve given them much more than Europe, and Europe should have given more than us.”
(Reporting by Erin Banco, Gram Slattery and Andrea Shalal; Additional reporting by Yuliia Dysa in Kyiv; Editing by Don Durfee and David Gregorio)
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Tech stocks down 7% since Trump’s inauguration as tariffs begin
Tech stocks down 7% since Trump’s inauguration as tariffs begin
CEO of Meta and Facebook Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, Google CEO Sundar Pichai, and Tesla and SpaceX CEO Elon Musk attend the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. president in the U.S. Capitol Rotunda in Washington, Jan. 20, 2025.
Saul Loeb | Via Reuters
Technology stocks have slumped more than 7% since President Donald Trump took office in January, with new tariffs setting off a trade war and adding fuel to the risk-off sentiment on Wall Street.
Economists warned the tariff spat could spike inflation and send shockwaves worldwide, prompting investors to dump winning stocks and mitigate risk.
The fears have battered technology stocks that led the market in the wake of Trump’s presidential victory. The S&P 500 technology sector fell 1% on Tuesday, building on a 3.5% loss from the previous session. It’s down 7.7% since Trump’s inauguration.
Tariffs may spike manufacturing costs for leading technology companies such as Apple and Nvidia that assemble and manufacture products outside the U.S.
Nvidia, the leading artificial intelligence chipmaker, fell nearly 9% on Monday in response to the tariffs and has plummeted 16% since Trump took office. Shares continued to added about 1% Tuesday.
The company makes most of its chips in Taiwan but manufactures some more complex systems in other regions. Nvidia said it plans to produce some chips at Taiwan Semiconductor Manufacturing’s planned facilities in the U.S. Trump announced Monday that the company will be investing an additional $100 billion toward building five new fabrication facilities in Arizona, bringing TSMC’s total investment in the U.S. to $165 billion.
Semiconductor stocks have also underperformed, with the VanEck Semiconductor ETF down nearly 13% since the inauguration. Advanced Micro Devices has shed 18%, while Broadcom and Marvell Technology have tanked more than 20% and 29%, respectively.
Elon Musk-backed Tesla has lost more than third of its value since the inauguration. Alphabet has dropped about 13%, while Microsoft and Amazon are down at least 10% each. Apple is up 3%.
Trump smashed hopes of a potential last-minute deal Monday, clearing the way for 25% duties on Canada and Mexico to go into effect. He said there was “no room left” to discuss alternatives after weeks of negotiations. He also put an additional 10% tariff on ******** goods.
All three countries responded to the new levies. Canada said it would implement retaliatory tariffs as soon as Tuesday, and Mexico said it is preparing to announce a plan Sunday. China has punched back with a tariff of up to 15% on some U.S. goods.
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BlackRock Will Buy Panama Canal Ports from CK Hutchison – The New York Times
BlackRock Will Buy Panama Canal Ports from CK Hutchison – The New York Times
BlackRock Will Buy Panama Canal Ports from CK Hutchison The New York TimesUS firm agrees to buy Panama Canal ports at center of Trump fury CNNBlackRock buying two Panama Canal ports amid Trump’s China threats AxiosAfter Trump threats, Hong Kong firm to sell stake in Panama Canal ports The Washington PostBlackRock inks $23B deal for Panama Canal ports Fox Business
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Final Fantasy and SaGa series veteran Kazuyuki Shindo leaves Square Enix after 27 years
Final Fantasy and SaGa series veteran Kazuyuki Shindo leaves Square Enix after 27 years
Profchaos18h ago
True it’s an improvement but they did have to work with what they had and that was a ultra janky port of a mobile game thrown together by like 4 people per game.
Seriously in the old version after completing vice city I saw Grove St employees were listed and there was only 4 people in it there’s ******* teams out there working on homebrew games.
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Stranded Nasa astronauts on what they’ll miss when they return to Earth
Stranded Nasa astronauts on what they’ll miss when they return to Earth
The Nasa astronauts on board the International Space Station have shared their thoughts on what they’ll miss when they finally return to Earth.
Suni Williams and Butch Wilmore were originally slated to be on the ISS for eight days but eight months later, they’re still up there.
Williams said she will miss “everything” about her time in Space.
More on space exploration
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All the news from Samsung, Nothing, Lenovo, Xiaomi and more
All the news from Samsung, Nothing, Lenovo, Xiaomi and more
Mobile World Congress is taking place in Barcelona this week, offering manufacturers an opportunity to show off new gear without needing to hold their own splashy event. So far, we’ve learned about some new laptops and phones, as well as upcoming AI updates to Android and an internet connectivity announcement from Meta.
Here’s a look at everything announced at Mobile World Congress that caught our eye. We’ll update this story throughout the week.
Lenovo
Sam Rutherford for Engadget
Among the *******-name manufacturers, Lenovo has arguably had the busiest MWC so far. The company has revealed a whole bunch of laptops, including upgraded ThinkPads and several intriguing concept models.
The ThinkPad T14s 2-in-1 has a design that’s more aligned with the convertible format of the Yoga lineup than a typical ThinkPad. The 14-inch machine can be equipped with a 400-nit WUXGA touch display. Other ThinkPads are getting spec upgrades, while Lenovo claims the new ThinkPad X13 Gen 6 has “one of the lightest ThinkPad designs ever.” The company has a fresh slate of laptops with generative AI capabilities as well.
Some of Lenovo’s concepts have certainly caught our attention. It’s a bummer that the company doesn’t currently plan to turn the Yoga Solar PC Concept into a commercial device. Thanks to the solar cells on the casing, the laptop can soak up enough energy from the sun in 20 minutes to play an hour of videos. As little as 0.3 watts of light is enough to juice up the battery. While solar-powered laptops aren’t exactly new, the Yoga Solar PC feels polished. Here’s hoping Lenovo does more with the notion in the future.
Sam Rutherford for Engadget
In addition, Lenovo showed off some conceptual display accessories for a ThinkBook laptop. There’s an eight-inch screen that attaches to the side magnetically to help you, for instance, keep up with notifications and widgets. The Magic Bay Dual Display Concept adds a 13.3-inch panel to either side of the main display. There’s also a slim second display that’s designed to sit above your laptop screen and provide quick access to things like the time, weather, notifications, a focus mode timer, an AI assistant and notifications.
Sam Rutherford for Engadget
On top of all of that, Lenovo offered a look at a new prototype laptop with a flexible display. Building on the tech the company used in the ThinkBook Plus Gen 6 Rollable, the ThinkBook codename Flip AI PC Proof of concept (to give its full name) has a fold-out screen. This allows Lenovo to double the panel’s size from 13 inches to 18.1 inches. The ThinkBook Rollable’s display, on the other hand, can extend to 16.7 inches. Again, Lenovo doesn’t currently plan to release a commercial version of this fold-out laptop, but it’s an interesting idea.
Samsung
Photo by Mat Smith for Engadget.
The main MWC news from Samsung this year is the company’s latest midrange and budget phones. The Galaxy A56 has a larger screen than its predecessor at 6.7 inches, but it’s thinner too at 7.44mm vs. 8.2mm. There’s now a small bump where the volume and power buttons are — a tweak that we feel makes the A56 easier to handle.
Samsung has switched up the camera array in the A56. On the front, there’s a lower-res 12MP lens. On the other side, you’ll find an upgraded 12MP ultrawide, 50MP main sensor and a 5MP macro lens. The A56 has a bunch of AI-powered camera and image editing features, such as enhanced subject detection in portrait mode and an object eraser.
Pre-orders are open in the *** for the Galaxy A56, which costs $499/£499. It will hit the *** on March 19, but folks in the US will have to wait until “later this year” for it.
Samsung also revealed the Galaxy A36 5G and Galaxy A26 5G. Both devices have a 120Hz, 6.7-inch display with brightness of up to 1,200 nits. They also share an IP67 rating and 5,000mAh battery with the A56.
However, the base models of each only have 6GB of RAM (compared with the A56’s 12GB). In addition, the A36 has the Snapdragon 6 Gen 3 processor instead of the Exynos 1580 that the A56 boasts, while the A26 has a Exynos 1380 chipset.
Xiaomi
Sam Rutherford for Engadget
Unfortunately, Xiaomi doesn’t have plans to bring a handset it showed off at MWC to the US. That’s a real pity, because no other companies are selling phones quite like the Xiaomi 15 Ultra in the country these days.
Xiaomi teamed up with Leica to make a smartphone that leans heavily into photography. The camera array includes a 1-inch 50-megapixel Sony main sensor, an f/2.2 50MP ultrawide cam, a 50MP midrange lens with a 70mm focal length and a 200MP periscope array with a 100mm focal length — that equates to a 4.7x optical zoom. Some preset Leica filters help to tie the two brands’ knowhow together.
That’s not all that might be interesting to mobile snappers. Xiaomi’s separate Photography kit includes an add-on camera grip with a physical shutter button, an adjustable dial and dedicated video button. You’ll have the option to attach a standard 67mm filter adapter to a case as well — in other words, some of the equipment you might use on a dedicated camera is compatible with the Ultra 15 as part of this setup.
Moreover, the Ultra 15 has a 6.7-inch AMOLED display with 120Hz refresh rate and up to 3,200 nits of brightness to help you get a good look at your captures. Plus, unlike some other ******** phones (like Huawei’s), Xiaomi supports Google services in HyperOS 2, which is an Android skin. The Ultra 15 starts at about €1,499 (around $1,572).
Android
Speaking of Android, Google announced two new AI-powered features for the operating system at MWC. The Live Video function, which Google first previewed at I/O 2024, allows you to share what your phone’s camera sees with Gemini so you can ask the chatbot questions about the footage.
The new screensharing function works in a similar way. You can ask Gemini questions about whatever’s on your phone or tablet’s display.
If they work as well as advertised, these features could be a boon for accessibility. Google will first offer them to Gemini Advanced subscribers starting later this month. Those with a $20 per month Google One AI Premium membership, which is included with some Verizon plans, have access to Gemini Advanced.
Nothing
Image by Mat Smith for Engadget
Samsung wasn’t the only smartphone maker of note to show off two new mid-range devices at MWC. Nothing debuted its Phone 3a Pro and Phone 3a at the event — even though it has yet to unleash the Phone 3.
The 3a Pro has a beefier camera module (quite literally as the device is about 10 grams heavier than the 3a). It contains a 50MP telephoto sensor with a 3x optical zoom; a 50MP primary sensor with f/1.88 lens and dual-pixel phase detection auto-focus (PDAF); and an ultrawide 8MP sensor with a 120-degree field of view. The handset has a telemacro mode too. As for the 3a, that boasts a main 50MP camera with single-pixel PDAF, but the other two sensors are the same as on the 3a Pro.
The cameras are the main difference between the two phones, which both have a 6.77-inch AMOLED LTPS display with a 120Hz refresh rate and up to 1,300 nits of brightness. The phones have a 5,000mAh battery with support for 50W fast charging, and they run on a Snapdragon 7s Gen 3 chipset.
The devices have Nothing’s multipurpose Essential Key, a physical button that can take screenshots and help you record voice notes. The phones also have some generative AI features, such as the ability to transcribe said voice notes and describe what’s in screenshots and photos.
As usual, Nothing is initially offering these devices in the US through a beta program. Phone 3a pre-orders are open now and the $379 handset ships on March 11. That’s the date when pre-orders for the Phone 3a Pro go live. The $459 phone can be in your hands on March 25.
There was more news out of MWC beyond new gear and OS updates. Meta and the Internet Society announced a partnership to bolster affordable internet connectivity around the globe. They’re jointly putting $30 million into the initiative over the next five years.
A major aim of the project is to help build out infrastructure in areas where commercial providers have yet to do so. The Connectivity Co-Funding Initiative will also back training programs, community-centered solutions for underserved areas and locally owned networks. The Internet Society is hoping to find more partners to help with the project.
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AbbVie is the newest potential weight loss drug player
AbbVie is the newest potential weight loss drug player
A sign stands outside an Abbvie facility in Cambridge, Massachusetts.
Brian Snyder | Reuters
A version of this article first appeared in CNBC’s Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.
The booming weight loss drug market has gained a new potential competitor.
AbbVie said on Monday that it will pay up to $2.2 billion to develop Danish drugmaker Gubra’s experimental obesity drug, marking its late foray into the segment.
Under the terms of the deal, the pharmaceutical giant will pay Gubra $350 million upfront. AbbVie will also pay up to nearly $1.9 billion if the drug meets certain development and sales milestones.
Gubra, which provides pre-clinical contract research and peptide-based drug discovery services, will be eligible to receive certain royalties on global net sales of the drug, called GUB014295. Shares OF Gubra closed 15% higher on Monday after the licensing agreement was announced.
Here’s what’s important to know about the medicine: It is an injection that mimics amylin, a different gut hormone than the existing obesity drugs on the market target.
Amylin activates signals to the brain that suppress appetite and reduce food intake, according to AbbVie. The hormone also slows so-called gastric emptying, or the process by which the contents of the stomach are moved into the small intestine.
Novo Nordisk‘s blockbuster obesity treatment Wegovy mimics a hormone called GLP-1 to tamp down appetite and regulate blood sugar, while Eli Lilly‘s own drug Zepbound targets both GLP-1 and another hormone called GIP.
A few companies, including Novo Nordisk, Zealand Pharma, AstraZeneca and Structure Therapeutics, are developing products that target amylin. Some of those drugs are further along in development than Gubra’s medicine, such as Zealand’s petrelintide, but it is still too early to know which one is most effective for weight loss.
Some drugmakers believe that targeting amylin could reduce the gastrointestinal side effects typically seen with treatments that target GLP-1, and may lead to less muscle loss than existing drugs. But those effects have to be proven in clinical trials.
In a research note Monday, BMO analyst Evan Seigerman said “all-in we’re positive on the deal” for AbbVie. He said the company’s entrance into the obesity market could “come with synergies” to other areas of its business, such as inflammation and aesthetics.
For example, researchers are studying the inflammatory benefits of obesity drugs for conditions such as a serious form of liver disease, cardiovascular outcomes and Alzheimer’s, among others, Seigerman wrote.
“We see an opportunity for AbbVie to leverage their expertise in this space to better understand these potential benefits,” he added.
An obesity drug could also complement AbbVie’s aesthetics business, which offers Botox, other facial injectables, skin care and body contouring, among other products, according to Seigerman.
Notably, the deal comes as AbbVie looks for its next top-selling drug following the patent expiration for its mega blockbuster autoimmune medicine Humira.
“Our partnership with Gubra marks our entry into the obesity field, offering a compelling opportunity based on the potential to address patient needs while also fostering long-term growth for our company,” AbbVie CEO Robert Michael, who took over just over six months ago, said in a statement on Monday.
The deal, however, could be a “potential negative” for Structure Therapeutics, Seigerman said.
That biotech company is still looking for potential partnerships with large pharmaceutical companies to further develop and commercialize its experimental GLP-1 and amylin products.
Feel free to send any tips, suggestions, story ideas and data to Annika at *****@*****.tld.
Latest in health-care tech: AI takes center stage at HIMSS conference gets underway in Vegas
Attendees at HIMSS in Orlando, Florida 2024.
Courtesy of HIMSS
This is Ashley, reporting live from Las Vegas, Nevada!
I’m here on the ground at the 2025 HIMSS Global Health Conference and Exhibition, where health care and technology leaders are touting their latest and greatest innovations. The exhibition floor opens up today, but there’s already been a flurry of announcements, primarily around – yes, you guessed it – artificial intelligence.
Here’s everything you need to know so far:
Microsoft on Monday announced a new health-care AI assistant called Dragon Copilot that builds on its existing dictation and ambient listening solutions. It’s the company’s latest push to stand out within the fiercely competitive AI scribing market, which has grown immensely in recent years. Read CNBC’s coverage here.
Amazon on Monday said it’s bringing Amazon One to NYU Langone Health, which means patients will be able to check in for appointments by simply scanning their palm. The service will help NYU Langone speed up the sign-in process and alleviate administrative workloads. Read CNBC’s coverage here.
Google on Monday announced new generative AI capabilities in its platform Vertex AI Search for health care, which allows developers to train, tune and deploy different AI models and applications. The company said Gemini 2.0 is now available as one of the models in the offering, and a new feature called Visual Q&A will allow doctors to search diagrams, tables and charts.
Salesforce on Friday said it will launch Agentforce for Health, a suite of pre-built actions and skills that will allow providers, payers and others to easily build AI agents. Agentforce for Health specializes in public health, clinical skills and patient access and services. It comes after Salesforce announced Agentforce, an AI agent service, more broadly in September.
Wolters Kluwer Health announced this week that the company is integrating its medical database UpToDate with Suki’s AI scribing tool and the health-care agent service in Microsoft Copilot Studio. Ideally, this will make it easier for doctors who use these platforms to pull up trusted medical resources more quickly and easily.
GE HealthCare on Tuesday announced a new portfolio of cloud imaging software solutions called Genesis. The portfolio includes four different offerings that will help providers manage and store large quantities of medical images more easily, the company said.
There’s still plenty more to come this week (assuming I don’t get completely lost in The Venetian), so make sure you’re keeping up with CNBC’s coverage. I’ll have more on the big themes and takeaways I hear about over the next few days.
Feel free to send any tips, suggestions, story ideas and data to Ashley at *****@*****.tld.
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How to rebuild Gaza? Egypt gets backing for counterproposal to Trump plan – National
How to rebuild Gaza? Egypt gets backing for counterproposal to Trump plan – National
Arab leaders on Tuesday endorsed Egypt’s postwar plan for the Gaza Strip that would allow its roughly 2 million Palestinians to remain, in a counterproposal to U.S. President Donald Trump’s plan to depopulate the territory and redevelop it as a beach destination.
It was unclear if Israel or the United States would accept the Egyptian plan, whose endorsement by Arab leaders amounted to a widespread rejection of Trump’s proposal. The vote was announced by Egyptian President Abdel Fattah el-Sissi.
Tuesday’s summit in Cairo included the emir of Qatar, the vice president of the United Arab Emirates and the foreign minister of Saudi Arabia — countries whose support is crucial for any postwar plan. U.N. Secretary-General António Guterres also attended.
Addressing the summit, el-Sissi said that the plan “preserves the right of ************ people in rebuilding their nation and guarantees their existence on their land.”
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Israel has embraced what it says is an alternative U.S. proposal for the ceasefire itself and the release of hostages taken in ******’ attack on southern Israel on Oct. 7, 2023, which triggered the war. Israel has blocked the entry of food, fuel, medicine and other supplies to Gaza to try to get ****** to accept the new proposal and has warned of additional consequences, raising fears of a return to fighting.
3:37
Israel cuts off Gaza aid, pressures ****** to accept new ceasefire proposal
The suspension of aid drew widespread criticism, with human rights groups saying that it violated Israel’s obligations as an occupying power under international law.
The new plan would require ****** to release half its remaining hostages — the militant group’s main bargaining chip — in exchange for a ceasefire extension and a promise to negotiate a lasting truce. Israel made no mention of releasing more ************ prisoners — a key component of the first phase.
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Egypt’s $53 billion plan foresees rebuilding Gaza by 2030 without removing its population. The first phase calls for starting the removal of unexploded ordnance and clearing the more than 50 million tons of rubble left by Israel’s bombardment and military offensives.
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A final communique said Egypt will host an international conference in cooperation with the United Nations for Gaza’s reconstruction. A World Bank-overseen trust fund will be established to receive pledges to implement the early recovery and reconstruction plan, it said.
According to a 112-page draft of the plan obtained by The Associated Press, hundreds of thousands of temporary housing units would be set up where Gaza’s population could live while reconstruction takes place. The rubble would be recycled, with some of it used as infill to create expanded lands on Gaza’s Mediterranean coast.
In the following years, the plan envisages completely reshaping the strip, building “sustainable, green and walkable” housing and urban areas, with renewable energy. It renovates agricultural lands and creates industrial zones and large park areas.
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It also calls for the opening of an airport, a fishing port and a commercial port. The Oslo peace accords in the 1990s called for the opening of an airport and a commercial port in Gaza, but the projects withered as the peace process collapsed.
Under the plan, ****** would cede power to an interim administration of political independents until a reformed ************ Authority can assume control. ************ President Mahmoud Abbas, head of the Western-backed authority and an opponent of ******, was attending the summit.
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Israel has ruled out any role for the ************ Authority in Gaza and, along with the United States, has demanded ******’ disarmament. ******, which doesn’t accept Israel’s existence, has said it’s willing to cede power in Gaza to other Palestinians, but won’t give up its arms until there is a ************ state.
Speaking at the summit, el-Sissi said there is a need for a parallel path for peace to achieve a “comprehensive, just and lasting settlement” to the ************ cause.
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“There will be no true peace without the establishment of the ************ state,” the Egyptian leader said. “It’s time to adopt the launching of a serious and effective political path that leads to a permanent and lasting solution to the ************ cause according to the resolutions of international legitimacy.”
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Israel has vowed to maintain open-ended security control over both territories, which it captured in the 1967 ******** war and which Palestinians want for their future state. Israel’s government and most of its political class are opposed to ************ statehood.
Trump shocked the region last month when he suggested Gaza’s roughly 2 million Palestinians be resettled in other countries. He said the United States would take ownership of the territory and redevelop it into a Middle Eastern “Riviera.”
Israeli Prime Minister Benjamin Netanyahu embraced the proposal, which was roundly rejected by Palestinians, Arab countries and human rights experts, who said it would likely violate international law.
Riccardo Fabiani, North Africa director at the International Crisis Group, a Brussels-based think tank, said Egypt was “trying to present a credible alternative focused on reconstruction and an indirect consultation mechanism for ****** that could reassure Israel and the US.”
Children from Gaza head to Jordan for treatment
Trump has suggested that Egypt and Jordan, two close American allies, could take in large numbers of ************ refugees from Gaza. Both countries have adamantly rejected any such plan.
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Meeting with Trump at the White House last month, King Abdullah II of Jordan offered to take in around 2,000 children for medical treatment. The first group of around 30 children left Gaza for Jordan on Tuesday, according to Nasser Hospital in the southern Gaza city of Khan Younis. The children are being accompanied by up to two family members.
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Jordan said that the children are amputees and will return to Gaza when their treatment is complete. The kingdom has also set up field hospitals in Gaza and delivered aid by air and land.
The war began with ******’ Oct. 7 attack on Israel, in which ************ militants killed about 1,200 people, mostly civilians, and took 251 people hostage. ******-led militants are still holding 59 hostages, 35 of whom are believed to be dead.
Most of the rest were released in ceasefire agreements. Israel has rescued eight living hostages and recovered the remains of dozens more.
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Israel’s 15-month offensive killed more than 48,000 Palestinians, according to Gaza’s Health Ministry. It doesn’t say how many were fighters, but the ministry says women and children made up more than half the dead. Israel says it killed over 17,000 militants, without providing evidence.
The offensive destroyed large areas of Gaza, including much of its health system and other infrastructure. At its height, the war displaced about 90% of the population, mostly within the territory, where hundreds of thousands packed into squalid tent camps and schools repurposed as shelters.
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