Pelican Press

*** economy ekes out 0.1% growth in the fourth quarter, beating expectations *** economy ekes out 0.1% growth in the fourth quarter, beating expectations Restaurants and pubs on James Street in London, ***, on Friday, Dec. 13, 2024. Bloomberg | Bloomberg | Getty Images The U.K. economy grew by 0.1% in the fourth quarter, beating expectations, according to a preliminary estimate from the U.K.’s Office for National Statistics (ONS) on Thursday. Economists polled by Reuters had expected the country’s GDP to contract by 0.1% on the previous three months. The British economy had recorded zero growth in the third quarter and has seen lackluster monthly GDP data since then, with a 0.1% contraction in October and a 0.1% expansion in November. Sluggish growth and a recent drop in inflation prompted the Bank of England last week to make its first interest rate cut of the year, bringing its benchmark rate down to 4.5%. The central bank signaled further rate trims were coming as inflationary pressures wane, but noted that higher global energy costs and regulated price changes are expected to push up headline inflation to 3.7% in the third quarter of 2025, “even as underlying domestic inflationary pressures are expected to wane further.” The BOE expected the inflation rate to fall back to its 2% target by 2027. The central bank also halved the U.K.’s economic growth forecast from 1.5% to 0.75% this year. Poor economic performance will stack additional pressure on U.K. Chancellor Rachel Reeves, whose fiscal plans, announced last fall, have been criticized for increasing the tax burden on British businesses. Critics say the plans, which increase the amount that employers pay out in National Insurance (NI) contributions — a tax on earnings — as well as a hike to the national minimum wage, could harm investment, jobs and growth. Chancellor Reeves defended the “Autumn Budget,” saying its £40 billion of tax rises were needed to fund public spending and that she is prioritizing economic growth. 2025 growth downgraded Economists had widely expected the British economy to end the year on a low note and have also downgraded their growth forecasts for 2025. “Higher taxes for businesses, a lingering drag from the previous interest rate hikes and softer overseas demand explain why we have revised down our *** GDP growth forecasts, from 1.3% to 0.5% for 2025 and from 1.6% to 1.5% for 2026,” Paul Dales, chief U.K. economist at Capital Economics, said in a note this week. City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Sanjay *****, senior economist at Deutsche Bank, concurred, saying that near-term downgrades to the U.K.’s 2025 growth outlook were “inevitable.” “Bar any major revisions, the negative carry over effect from [the fourth quarter of 2024] will automatically drag on our 2025 growth forecast of 1.25%. How much of a downgrade could we be looking at? Roughly 0.25 percentage points – at minimum,” he said in a research note this week. “There’s more bad news too. Survey data to start the year have also yet to show any bounce back. Downside risks to our first quarter of 2025 GDP growth forecast (of 0.3% quarter-on-quarter growth) are rising with the latest PMI data pointing to only a modest rebound to start the year. The threat of a trade war looks stronger too,” ***** said. “To be sure, trade uncertainty will remain for some time,” he added. Threat of tariffs U.S. President Donald Trump threatened to impose tariffs on goods from the European Union and U.K. but has signalled that Britain, with whom the U.S. has a more balanced trade relationship, could strike a deal to avoid levies. The U.K. is certainly hopeful that it can avoid Trump’s tariff wrath, with Reeves telling CNBC last month that the U.K. is “not part of the problem” when it comes to “persistent” trade deficits that the president wants to tackle. U.S. President Donald Trump inspected an honour guard during a welcome ceremony at Buckingham Palace in central London on June 3, 2019, on the first day of their three-day State Visit to the U.K. Mandel Ngan | Afp | Getty Images Last week, the Bank of England stated that any potential U.S. tariffs on Britain “could be inflationary or disinflationary for the U.K. depending on other countries’ trade policies and the relative strength of different transmission channels.” “Most of these channels would act to lower U.K. economic activity. However, some channels are likely to reduce U.K. inflation while others might push up on it,” the central bank said. Lower U.S. demand for U.K. exports would be disinflationary, for example, but supply chain disruptions due to missing components could lead to short-term price spikes, the BOE noted. Source link #economy #ekes #growth #fourth #quarter #beating #expectations Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Multi-billion dollar merger talks between Honda and Nissan collapse – BBC.com Multi-billion dollar merger talks between Honda and Nissan collapse – BBC.com Multi-billion dollar merger talks between Honda and Nissan collapse BBC.comHonda and Nissan Scrap $50 Billion Merger Plan The New York TimesKyodo News Digest: Feb. 13, 2025 Kyodo News PlusJapanese automakers Honda, Nissan and Mitsubishi drop their talks on a business integration The HillNissan and Honda boards vote to end merger talks, sources say Reuters Source link #Multibillion #dollar #merger #talks #Honda #Nissan #collapse #BBC.com Pelican News View the full article at [Hidden Content]

*** economy unexpectedly grows in final months of 2024 *** economy unexpectedly grows in final months of 2024 The economy expanded by 0.1% between October and December, official figures suggest. Source link #economy #unexpectedly #grows #final #months Pelican News View the full article at [Hidden Content]

How much is the NHS going to cost us? How much is the NHS going to cost us? Ben Chu BBC Verify policy and analysis correspondent Getty Images The amount of money the *** spends on health, predominantly on the NHS, has been rising for decades. And as the *** population ages and people demand access to new medicines and treatments, there is every likelihood that the national bill will continue to grow. So how much could the NHS ultimately end up costing the nation? And is it possible to get better value for the money we collectively spend? BBC Verify has examined some of the key numbers. How much do we spend on health? Shortly after the NHS was founded, in 1949-50, total *** health spending was around £17bn in today’s money. By 2023–24 it had grown to £226bn. Health spending per person in 2022-23 was around £3,300 in England and Scotland, £3,600 in Wales and £3,500 in Northern Ireland. In the Autumn Budget last year, Chancellor Rachel Reeves announced an additional £26bn a year for the English health budget by 2025-26, which will automatically increase the resources available to the devolved nations. As a share of the overall economy – or GDP – spending on health has massively increased over the past 70 years. In 1949-50, health spending was only 3.6% of GDP. In 2023-24, it had more than doubled to 8.1% of GDP, after peaking at more than 10% in the Covid pandemic. Health spending jumped in the pandemic due to the costs of vaccinations and the “test and trace” programme. Around 80% of total health spending is funded by the government in the ***, mainly going to the NHS. The other 20% comes through private insurance schemes or out-of-pocket costs. That means health spending as a share of total government spending has also considerably increased. In the middle of the 1950s, health accounted for around £1 in every £8 the government spent. Today it’s roughly £1 in every £3. How does that compare to other countries? Despite that surge in health spending in recent decades, the *** is by no means an outlier among rich countries. In 2022, using comparable data on public health spending, the *** was spending around 9.3% of GDP. That was higher than Canada (7.9%) and Italy (6.8%) as well as the EU average, but less than Germany (10.9%) and France (10.2%). The US was the real outlier, spending 14.1% of GDP on health, largely because America has a private insurance system with few of the cost controls of other nations. And those countries have, like the ***, seen health spending rise considerably in recent decades, driven up by growing demand for new medical treatments and ageing populations. What’s going to happen to NHS spending in future? Last year, the Office for Budget Responsibility (OBR), the government’s official forecaster, said there was every likelihood there would be continued upward pressure on *** public health spending, citing those same factors: an ageing population and more demand for new medicines and treatments. It also cites rising ill health among the population as one of the contributors to rising spending, albeit not the dominant one. The amount of health spending on an individual rises dramatically as they grow older. Average annual spending per person on those aged 45 is around £2,000. For those aged 85 it is £13,000 a year. The OBR projects that the proportion of the population aged 65 and over will rise from around one in five today to one in four by 2070. As people’s incomes grow, research suggests they are typically willing to spend more of those incomes on healthcare, which in the *** is done mainly through the taxpayer-funded NHS. In its central forecast, the OBR projected *** public healthcare spending will rise by around 3% every year, after adjusting for inflation. This would be broadly in line with average growth over recent decades, although the rate has fluctuated under different governments. The OBR estimates this trend would add up to roughly an extra 1% of GDP going on public health spending every decade going forward. That would take public health spending from around 8% of GDP in 2024-25, up to 14.5% of GDP by 2073-74, equivalent to around £180bn in today’s money. However, this would also depend on the long term growth rate of the economy. The OBR assumes public health spending will grow roughly twice as fast as the overall economy. If that path of spending transpired, it would also likely mean health spending accounting for an even larger share of total government public service spending. How do we get better value for money from health spending? Many politicians argue it’s important for the NHS to deliver higher levels of productivity, in other words, to spend money more efficiently in order to keep the national bill under control. Productivity growth in the NHS has long lagged behind productivity growth in the rest of the *** economy. Last year, the OBR looked at what would happen if NHS productivity grew faster than currently expected in the coming decades. This, the OBR said, could curb the overall rise in public health spending. It might rise only to 11% of GDP by 2074, rather than to 14.5%. The recent indications of productivity growth in the NHS, however, are unclear. The latest estimates from the Office for National Statistics are that in the second half of 2024 NHS measured “inputs” – mainly in the form of more doctors and nurses hired – were 32% higher than they were before the pandemic in 2019. But measured “outputs” – things like operations completed and patients discharged – were only up by 7%. This meant that *** public sector health productivity was still around 19% lower than it was five years previously – and showing no signs of sustained growth. However, measuring productivity in the public services is far from simple and the ONS has stressed that these statistics are still only “in development”. Other estimates from NHS England and the Institute for Fiscal Studies – the independent economic research institute – point to an improvement in productivity in hospitals in England more recently, suggesting a corner might have been turned in the delivery of health services after the shock of the pandemic. But regardless of the statistical discrepancy, most experts agree that improving productivity in the health sector in the medium and long term is an important objective. And the extent to which it is delivered will play a key part in determining how much the NHS ends up costing the nation in the coming years. Source link #NHS #cost Pelican News View the full article at [Hidden Content]

Discovery, high-grade hits grow more legs for Ora Banda mine in WA Discovery, high-grade hits grow more legs for Ora Banda mine in WA Ora Banda Mining has made a new gold discovery – along with another set of blockbuster results from deep drilling at its Riverina mine in Western Australia. The results will also extend the deposit’s mine life. The company’s depth extension drilling program has continued to intersect high-grade gold for more than 300 metres below its current mine plan, further extending the life of mine at its ever-refining Davyhurst operation. Adding to Ora Banda’s excitement, a potential greenfields discovery at its Little Gem prospect, 2.5 kilometres south of Riverina, delivered highly encouraging first-pass results. A 4.6m hit at a juicy 7.6 grams per tonne (g/t), 5.3m at 3.3g/t and 4.4m at 3.4g/t gold were all returned from the same hole at around 250m downhole, suggesting a new multi-lode potential standalone discovery. The results stirred Ora Banda’s board into action to sign off on a major funding boost for 2025 of $45 million resource expansion investment that set out $16m for exploration and resource drilling and a $29m to fast-track mine expansion. The additional $45m on exploration and resource drilling this year will boost the total spend for 2025 to $41m. The $29m in capital expenditure to support growth at Riverina and Sand King will include $10m for camp expansions, $10m for mine development and $9m for ancillary projects. The depth of the latest drilling program at Riverina reveals just how vast the system is becoming. A high-grade shoot about 600m below the current workings returned exceptional grades including a 2.9m hit at a bonanza 36.0g/t gold, a thicker 7.8m section running 9.7g/t and 4m at an impressive 14.2g/t. The drilling campaign is only 50 per cent complete and has already extended the project’s known gold mineralisation to more than 1km in depth – a big tick for the company as it continues its production mission to deliver 150,000 ounces of gold this financial year. The significant results flowing from deeper drilling at Riverina Underground are nothing short of remarkable and point to a future step change for the business as we can now see through to a multi-year expansion in mine life. While Riverina continues to set records and the company’s Davyhurst mill churns out more tonnes than ever, Ora Banda’s Little Gem prospect could also soon shape up as a potential standalone deposit in its own right. Ora Banda believes its results from Little Gem confirm what management has long suspected – that the Riverina gold system extends well beyond its current boundaries. Importantly, the host rocks for the multiple lodes intersected in hole one have been identified as the metasediment units that form part of the hanging wall sequence in the Riverina Underground. This indicates the main lode hosting the high-grade Riverina lode sits immediately west of the current hole and is yet to be intersected. Ora Banda has drilled four additional holes at Little Gem, with assays still pending. The company is also planning to run further step-out drilling to define the full extent of its potential new discovery. Ora Banda is well on its way to achieving its target of 150,000 ounces of gold for the year, with a pipeline of high-grade ore sources now taking over as feed ore into its 1.2 million tonne per annum Davyhurst mill. With record gold prices at $4,630 per ounce and expected record production for Davyhurst this quarter, the discovery of yet more gold and an extended mine life for Ora Banda only adds to the company’s continued ascendancy. The nearly multi-billion-dollar company now looks primed to crack the $1 per share mark for the first time in its rollercoaster history. Is your ASX-listed company doing something interesting? Contact: *****@*****.tld Source link #Discovery #highgrade #hits #grow #legs #Ora #Banda Pelican News View the full article at [Hidden Content]

Death Stranding 2 Missed the PlayStation’s State of Play but Secures a Showcase at SXSW 2025 Two Years After Being Announced Death Stranding 2 Missed the PlayStation’s State of Play but Secures a Showcase at SXSW 2025 Two Years After Being Announced Coming out of PlayStation’s latest State of Play on February 13, the biggest question we’re asking is, where was Hideo Kojima’s Death Stranding 2: On the Beach? Well, Kojima Productions has already given us an answer. The studio announced that Death Stranding 2 will be the focus of a Special Panel at SXSW 2025, taking place on March 9 in Austin, Texas. What is Kojima cooking up this time? | Image Credit: Kojima Productions And if you thought it’d just be something minor after reading that, fear not because Hideo Kojima himself will be attending the event. So at the very least, we can expect new and in-depth details of the upcoming sequel. Who knows, a release date might be in the cards too. We’re getting new Death Stranding 2 info in March And we can probably expect a release date too. | Image Credit: Kojima Productions The absence of Death Stranding 2 from the February 12 State of Play event was unexpected because the game is one of Sony’s biggest exclusives for 2025. While we did get announcements for games like Days Gone Remastered, Metal Gear Solid Delta: Snake Eater, and Borderlands 4, Kojima’s latest project was nowhere to be seen. Now we know why. Official Announcement! PlayStation® Presents DEATH STRANDING 2: ON THE BEACH Special Panel Hideo Kojima will take the stage at SXSW 2025 in Austin, Texas, to reveal the latest updates on DEATH STRANDING 2: ON THE BEACH! Details here [Hidden Content] March 9… pic.twitter.com/i1vsQwoyVq — KOJIMA PRODUCTIONS (Eng) (@KojiPro2015_EN) February 11, 2025 Kojima Productions has confirmed that the game will take center stage at SXSW 2025 on March 9. It’s likely that the studio has planned a more in-depth presentation rather than a brief trailer drop. We can probably expect to see Kojima and the studio dive deeper into the game’s story, mechanics, and world-building. In Death Stranding 2: On the Beach, Norman Reedus returns as Sam Porter Bridges. He is joined by returning characters like Fragile (Léa Seydoux) and Higgs (Troy Baker), as well as newcomers like Elle Fanning, Shioli Kutsuna, and legendary filmmaker George Miller as Drawbridge Captain Tarman. And in true Kojima fashion, we don’t know a whole lot about the upcoming sequel. So.. State of Play is over and none of these games were showcased Death Stranding 2 God of War: Greek Saga Remaster Resident Evil IX Ghost of Yōtei Parasite Eve: Remake Thanks “insiders” Don’t forget to flush your credibility pic.twitter.com/RvFerFpbbg — Rino (@RinoTheBouncer) February 12, 2025 We’ll see the game follows Sam’s journey with the new organization, Drawbridge, as they navigate a world facing new existential threats. he recent Korean age rating suggests mature themes, including violence, strong language, and substance use, further hinting at a darker narrative. As long as it’s not delayed, we’re ready for anything There have been no signs of a delay so let’s hope it isn’t. | Image Credit: Kojima Productions Although details about what will be shown remain unclear, fans are hoping for a definitive release date and an extended gameplay demonstration. The game has already received an age rating so it’s likely nearing completion. If Kojima Productions is preparing for a late 2025 launch, SXSW could be the perfect platform to confirm the date, alongside a possible gameplay showcase. Death Stranding came out in 2019 and was a divisive game, to say the least. But with time, it gained a dedicated following which is why we now have this highly anticipated sequel. We enjoyed the first game’s take on traversal mechanics, its haunting atmosphere, and its unique multiplayer integration, which allowed players to indirectly support one another in rebuilding a fractured world. Despite its absence from the State of Play, Death Stranding 2 remains one of PlayStation’s biggest exclusives for 2025. The game was first announced at The Game Awards 2022, with a follow-up reveal at State of Play in January 2024. The upcoming SXSW panel will likely provide the deepest look at the game yet. Source link #Death #Stranding #Missed #PlayStations #State #Play #Secures #Showcase #SXSW #Years #Announced Pelican News View the full article at [Hidden Content]

Bitcoin Miners Enter “Capitulation” Phase, Sparking Speculation of Price Reversal Below $100K Bitcoin Miners Enter “Capitulation” Phase, Sparking Speculation of Price Reversal Below $100K Bitcoin Miners Enter “Capitulation” Phase, Sparking Speculation of Price Reversal Below $100K Bitcoin’s market is showing signs of a potential price shift as miners enter a phase of “capitulation.” This phase is identified by the hash ribbon indicator, which tracks the 30-day and 60-day moving averages of Bitcoin’s hashrate. When the 30-day moving average dips below the 60-day average, it signals that mining Bitcoin has become financially unsustainable, with the cost of mining surpassing the value of Bitcoin itself. This situation, known as miner capitulation, is a rare occurrence but often precedes a significant price reversal. On Feb. 10, 2025, Bitcoin analytics account Bitcoindata21 highlighted a potential turning point for Bitcoin, citing the hash ribbon’s triggering of a capitulation signal. This event is considered a local bottom indicator, often leading to upward price action. The last time such a signal appeared was in October 2024, when Bitcoin’s price surged from $73,800 to $108,000 in just two months. Historically, miner capitulation events have preceded periods of strong price rallies for Bitcoin. The hash ribbon indicator is considered a reliable tool for predicting market reversals. When the 30-day moving average of hashrate crosses above the 60-day moving average, it marks the end of the capitulation phase, signaling that a potential price recovery is underway. This shift in the hash ribbon’s data suggests that the worst of the miner capitulation phase could be over, with analysts anticipating a possible upward trend in Bitcoin’s price. Darkfost, a CryptoQuant contributor, affirmed the reliability of the hash ribbon, stating that it has only failed once, during the market shock caused by COVID-19. He emphasized that every time the indicator has flashed, Bitcoin has experienced a rally. The hash ribbon, according to Darkfost, has consistently highlighted optimal points for entering the market, both for short-term positioning and long-term accumulation. Charles Edwards, founder of Capriole Investments, also noted a recent trend among miners to increase their Bitcoin holdings. This indicates that miners are expecting Bitcoin’s price to rise in the future. Edwards pointed out that while the current capitulation phase has only just begun, the hash ribbon’s eventual buy signal could signal a shift in market sentiment. He acknowledged that much can happen before a buy signal is confirmed, but the current data suggests that we may be entering a “window of opportunity” for Bitcoin. With the hash ribbon indicating miner capitulation, Bitcoin’s market is under close scrutiny. The pattern of price rebounds following such capitulation events has analysts cautiously optimistic about the potential for a new bullish phase. However, as always, Bitcoin’s market is volatile, and the coming weeks will determine whether the predicted price surge materializes. Source link #Bitcoin #Miners #Enter #Capitulation #Phase #Sparking #Speculation #Price #Reversal #100K Pelican News View the full article at [Hidden Content]

Europe left reeling by Trump over Ukraine peace talks with Russia – Financial Times Europe left reeling by Trump over Ukraine peace talks with Russia – Financial Times Europe left reeling by Trump over Ukraine peace talks with Russia Financial TimesUS relations with Europe will never be the same after Trump’s call with Putin CNNNo lasting peace in Ukraine without European role in talks, leaders say after Trump-Putin call The GuardianTrump’s Ukraine Plans Mean a $3 Trillion Bill for European Allies Bloomberg Source link #Europe #left #reeling #Trump #Ukraine #peace #talks #Russia #Financial #Times Pelican News View the full article at [Hidden Content]

Multi-billion dollar merger talks between Honda and Nissan collapse Multi-billion dollar merger talks between Honda and Nissan collapse Merger talks between Honda and Nissan have collapsed after the firms failed to agree on a multi-billion dollar tie-up deal. The Japanese car makers aimed to combine their businesses to fight back against competition from rival firms, especially in China. Speaking in December, Honda’s chief executive Toshihiro Mibe said a deal with Nissan would combat “the rise of ******** power”. Joining forces would have created a new motor industry giant alongside Toyota, Volkswagen, General Motors and Ford. It would also have provided Nissan, which for a while was Japan’s second largest car company, with crucial relief following years of slowing sales and turmoil involving its top executives. In November, Nissan suprised shareholders with plans to lay off thousands of workers to tackle a drop in sales in China and the US. The growing electric car market has been increasingly dominated by ******** manufacturers, such as BYD. This increased competition has left many of the world’s leading car makers struggling to compete. In March last year, months before they announced the merger plans the two Japanese car makers had agreed to explore a strategic partnership for electric vehicles (EVs). “The talks started because we believe that we must build up capabilities to fight them, including the current emerging forces, by 2030. Otherwise we will be beaten”, said Mr Mibe at the time. Meanwhile, the Taiwanese technology giant, Foxconn, has emerged as a possible investor in Nissan. “If cooperation requires it (purchasing Nissan shares), we will consider it,” Foxconn ‘chairman Young Liu told reporters on Wednesday. Source link #Multibillion #dollar #merger #talks #Honda #Nissan #collapse Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Sony earnings Q3 2025 Sony earnings Q3 2025 Sony PlayStation games are displayed at a Best Buy store on December 17, 2024 in San Rafael, California. Justin Sullivan | Getty Images Sony on Thursday posted an operating profit beat for its December quarter after a jump in gaming revenues. The company’s consolidated operating profit hit 469.3 billion yen ($3.05 billion), versus 404.21 billion yen expected. The December quarter is a key ******* for Sony, covering the holiday shopping season which is often a lucrative time for consumer electronics firms. In the previous quarter, Sony raised its sales guidance for the 2025 fiscal year, revising its forecast for revenue up slightly to 12.7 trillion yen from 12.6 trillion yen previously. All eyes will be on Sony’s gaming hardware business. In its fiscal second quarter, the firm said it sold 3.8 million units of its PlayStation 5 console, down 22% year-over-year. Sony launched the PlayStation 5 Pro last year, an upgraded version of its PS5 machine which has been out since November 2020. Rival Nintendo reported weaker-than-expected results in its fiscal third quarter and slashed its forecast for the Switch console. The Japanese gaming giant last month teased a successor to the Switch dubbed Switch 2. It has yet to announce a price or release date but said more details will be revealed on April 2. Source link #Sony #earnings Pelican News View the full article at [Hidden Content]

Hundreds of foreigners freed from Myanmar’s scam centres Hundreds of foreigners freed from Myanmar’s scam centres Jonathan Head South East Asia Correspondent Thai News Pix More than 250 people from 20 nationalities who had been working in telecom fraud centres in Myanmar’s Karen State have been released by an ethnic armed group and brought to Thailand. They were received by the Thai army, and are being assessed to find out if they were victims of human trafficking. Last week Thai Prime Minister Paetongtarn Shinawatra met ******** leader Xi Jinping and promised to shut down the scam centres which have proliferated along the Thai-Myanmar border. Her government has stopped access to power and fuel from the Thai side of the border, and toughened up banking and visa rules to try to prevent scam operators from using Thailand as a transit country for moving workers and cash. Some opposition MPs in Thailand have been pushing for this kind of action for the past two years. Foreign workers are typically lured to these scam centres by offers of good salaries, or in some cases tricked into thinking they will be doing different work in Thailand, not Myanmar. The scammers look for workers with skills in the languages of those who are targeted for cyber-fraud, usually English and ********. They are pressed into conducting online criminal activity, ranging from love scams known as “pig butchering” and crypto fraud, to money laundering and ******** gambling. Some are willing to do the work, but others are forced to stay, with release only possible if their families pay large ransoms. Some of those who have escaped have described being tortured. Thai News Pix The released foreign workers were handed over by the Democratic Karen Benevolent Army, DKBA, one of several armed factions which control territory inside Karen State. These armed groups have been accused of allowing the scam compounds to operate under their protection, and of tolerating the widespread abuse of trafficking victims who are forced to work in the compounds. The Myanmar government has been unable to extend its control over much of Karen State since independence in 1948. Thai News Pix The scammers look for workers with skills in the languages of those who are targeted for cyber-fraud, usually English and ******** On Tuesday, Thailand’s Department of Special Investigation, which is similar to the US FBI, requested arrest warrants for three commanders of another armed group known as the Karen National Army. The warrants included Saw Chit Thu, the Karen warlord who struck a deal in 2017 with a ******** company to build Shwe Kokko, a new city believed to be largely funded by scams. The BBC visited Shwe Kokko at the invitation of Yatai, the company which built the city. Yatai says there are no more scams in Shwe Kokko. It has put up huge billboards all over town proclaiming, in ********, Burmese and English, that forced labour is not allowed, and that “online businesses” should leave. But we were told by local people that the scam business was still running, and interviewed a worker who had been employed in one. Like the DKBA, Saw Chit Thu broke away from the main Karen insurgent group, the KNU, in 1994, and allied himself to the Myanmar military. Under pressure from Thailand and China, both Saw Chit Thu and the DKBA have said they are expelling the scam businesses from their territories. The DKBA commander contacted a Thai member of parliament on Tuesday to arrange the handover of the 260 workers. They included 221 men and 39 women, from Ethiopia, Kenya, the Philippines, Malaysia, Pakistan, China, Indonesia, Taiwan, Nepal, Uganda, Laos, Burundi, Brazil, Bangladesh, Nigeria, Tanzania, Sir Lanka, India, Ghana and Cambodia. Source link #Hundreds #foreigners #freed #Myanmars #scam #centres Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Wingspan has announced a new Asia expansion that will launch this summer Wingspan has announced a new Asia expansion that will launch this summer The Asia expansion will release later this year New birds, bonus cards, and backgrounds inspired by the region Try out the new Duet Mode as well The world of Wingspan is expanding once again, this time bringing the birds of Asia to your digital sanctuary. Wingspan: Asia Expansion introduces new species, gameplay mechanics, and a fresh two-player experience designed to add even more variety to your mindfulness sessions. Wingspan: Asia Expansion is set across the landscapes of the East, offering a collection of new bird and bonus cards, stunning backgrounds, and beautifully illustrated player portraits inspired by the region. Alongside these additions, you’ll also have the chance to explore the brand-new Duet Mode. The Duet Mode features a special Duet Map, where you’ll compete for habitat spaces using tokens while working toward unique end-of-round goals. This format challenges you to approach each session differently, making every round feel fresh. If you prefer playing solo, the expansion includes two new bonus cards designed for Automa, bringing additional depth to individual sessions. Whether you’re competing against others or perfecting your approach alone, there’s plenty to explore with the birds of Asia. In addition, you can expect to see a new set of birds, each with its own distinct powers and characteristics. These additions bring fresh opportunities to refine your approach and discover species from across Asia – perfect if you’re an avid birdwatcher. The expansion also features 13 bonus cards, adding another layer of strategy as you build your sanctuary. With these new options, you’ll find more ways to adapt your playstyle and experiment with different approaches. Before you go on, here’s a list of the best digital board games to play on iOS! If that wasn’t enough, four new backgrounds transform your screen into a window to the East, while eight new player portraits reflect elements of local Asian cultures. Finally, you can complete the experience with four new music tracks composed by Pawel Górniak. Embark on this relaxing journey with your favourite birds by downloading Wingspan on your preferred link below. Source link #Wingspan #announced #Asia #expansion #launch #summer Pelican News View the full article at [Hidden Content]

Jealous woman jailed for hammer attack on young mother Jealous woman jailed for hammer attack on young mother A woman will spend more than nine years in jail after jealousy-motivated attacks on two other women, one of whom was left needing around-the-clock care. Source link #Jealous #woman #jailed #hammer #attack #young #mother Pelican News View the full article at [Hidden Content]

Verizon Communications (NYSE:VZ) shareholders have endured a 7.2% loss from investing in the stock five years ago Verizon Communications (NYSE:VZ) shareholders have endured a 7.2% loss from investing in the stock five years ago Ideally, your overall portfolio should beat the market average. But in any portfolio, there will be mixed results between individual stocks. So we wouldn’t blame long term Verizon Communications Inc. (NYSE:VZ) shareholders for doubting their decision to hold, with the stock down 30% over a half decade. Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they’ve been consistent with returns. See our latest analysis for Verizon Communications In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company’s share price and its earnings per share (EPS). Looking back five years, both Verizon Communications’ share price and EPS declined; the latter at a rate of 2.2% per year. Readers should note that the share price has fallen faster than the EPS, at a rate of 7% per year, over the *******. This implies that the market is more cautious about the business these days. The low P/E ratio of 9.74 further reflects this reticence. You can see below how EPS has changed over time (discover the exact values by clicking on the image). NYSE:VZ Earnings Per Share Growth February 12th 2025 We know that Verizon Communications has improved its bottom line lately, but is it going to grow revenue? Check if analysts think Verizon Communications will grow revenue in the future. It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Verizon Communications, it has a TSR of -7.2% for the last 5 years. That exceeds its share price return that we previously mentioned. And there’s no prize for guessing that the dividend payments largely explain the divergence! Verizon Communications provided a TSR of 7.7% over the last twelve months. But that return falls short of the market. But at least that’s still a gain! Over five years the TSR has been a reduction of 1.4% per year, over five years. It could well be that the business is stabilizing. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should be aware of the 2 warning signs we’ve spotted with Verizon Communications . Story Continues But note: Verizon Communications may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Source link #Verizon #Communications #NYSEVZ #shareholders #endured #loss #investing #stock #years Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Commerzbank earnings Q4 2024 Commerzbank earnings Q4 2024 The logo of ******* bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty Images Germany’s second-largest lender Commerzbank on Thursday announced it will eliminate 3,900 full-time positions by 2028, largely in its native Germany, as it unveiled a spate of new strategic targets. The job cuts will be accompanied by increases in staffing in “selected areas” such as in international locations, resulting in a broadly constant global headcount of 36,700, the bank said in its strategic update. The lender anticipates around 700 million euros ($730.7 million) of before-tax restructuring costs in 2025, targeting a net result of 2.4 billion euros after these charges for the year. It plans a payout ratio of more than 100% over the 2025-2028 *******, after the deduction of restructuring costs and Additional Tier 1 (AT 1) bond coupons. Revenue in 2024 came in at 11.1 billion euros, compared with 10.461 billion euros in 2023. Commerzbank had disclosed its “record” annual performance two weeks before the scheduled release of its financial results, in a bid to fall in step with ******* legal requirements when a company’s capital return significantly exceeds the expectations of capital markets. At the time, it said net profit hiked by 20% to a forecast-beating 2.68 billion euros ($2.78 billion) in 2024, outlining plans to repurchase 400 million euros of shares and boost its dividend payout to 0.65 euros per share, compared with 0.35 euros per share in the previous year. UniCredit stake Commerzbank has been advocating its case to stand alone since last year’s surprise build of a stake by UniCredit fueled market talk that Italy’s second-largest lender could be on the hunt for a cross-border takeover. UniCredit currently holds a direct 9.5% stake and a 18.5% stake via derivatives in Commerzbank. The ******* government has opposed the prospect of such a cross-border consolidation, with Finance Minister Jörg Kukies slamming UniCredit’s “very aggressive, very opaque” bid in a CNBC interview in January. Split between the ******* overture and a takeover offer for Italian lender Banco BPM, UniCredit CEO Andrea Orcel has kept his cards close to chest over his company’s ultimate intentions regarding Commerzbank. Speaking to CNBC this week after UniCredit reported a fourth-quarter profit beat and guided a slowdown in 2025 revenues, Orcel stressed that Commerzbank remains an investment — but also that he is “quite optimistic of being able to convince everybody, not only on the premises of how we got to this investment, but also that a combination between the two banks has massive value to be created, not only for the two banks and the stakeholders, but also for Germany and for Europe.” This breaking news story is being updated. Source link #Commerzbank #earnings Pelican News View the full article at [Hidden Content]

Trump elected chair of the Kennedy Center by newly constituted board – CNN Trump elected chair of the Kennedy Center by newly constituted board – CNN Trump elected chair of the Kennedy Center by newly constituted board CNNHear what Trump said to new Kennedy Center board in audio obtained by Jake Tapper CNNTrump elected chairman of Kennedy Center; former leaders ousted or resigning WUSA9.comWhy Trump’s Takeover of the Kennedy Center Will Reverberate in Hollywood and Beyond TIME Source link #Trump #elected #chair #Kennedy #Center #newly #constituted #board #CNN Pelican News View the full article at [Hidden Content]

Why the BBC is spending a day in hospital at Royal Free London NHS trust Why the BBC is spending a day in hospital at Royal Free London NHS trust Hugh Pym and Chloe Hayward BBC News BBC Scarcely a day goes by without the NHS being in the news – even more so during the winter. Today, new numbers from NHS England will reveal how the system coped during the peak of winter pressures. We will learn how many patients were stuck on trolleys or chairs in A&E for more than 12 hours, waiting for a hospital bed. There will be stats on the number of people waiting for more than two months to start ******* treatment and more on the nearly 7.5 million waiting for planned treatment. But finding out what this really means for patients and staff is not always easy, as access to busy hospitals is hard to come by. That’s why BBC News has decided to cover the latest updates on how the NHS in England is performing at one hospital trust – the Royal Free London NHS Foundation Trust. From early in the day, until late evening, we will talk live to staff and watch the flow of patients from arrival to discharge. We will monitor the situation in the emergency department, see the ******* care, and hear about complex surgery and high-end research. Difficulties discharging patients who are medically fit because of social and community care issues will be all too clear. Across TV, radio and online outlets we will follow the activity through the day and shine a light on corners of a busy hospital that are rarely seen. Getty Images An ambulance departs from the Royal Free Hospital The trust covers the health treatment needs of a significant chunk of north London. Its main centre – the Royal Free Hospital itself – is a major teaching and research hospital dating back nearly 200 years. It is the second biggest provider of ******* services in the ***. The trust also includes Chase Farm hospital, which focusses on planned surgery – such as orthopaedics and ear, nose and throat. Also in the group is Barnet hospital with a busy emergency department and North Middlesex which runs community and hospital services. The trust spans a wide urban geographical area in both economically challenged and wealthier neighbourhoods. It could be seen as a microcosm of the wider NHS -though London hospitals work closely together and are better resourced than some others. Trust leaders know what to expect when TV crews and reporters spend time on site and press officers are available to accompany broadcast teams. It is where the Hospital documentary series is filmed. Senior management say they are opening their doors to be transparent and to reassure local communities they are striving for the best possible standard of care. They want people to know they are always busy and to understand how there might be alternatives to going to hospital. Staff, we are told, appreciate media coverage of their daily challenges and frustrations. A snapshot hospital life BBC News will retain editorial control and aim to show things as they are: the shortcomings as well as positives. The trust has already allowed us to see a wide range of activity, but there is no free reign to visit everywhere. We have had access to the emergency department, though this was limited at times when staff were under more strain. Care was taken to ensure no member of staff or patient who did not want to be filmed would be shown. Patients were asked by the hospital PR team and BBC reporters whether they were happy to be on camera and give interviews. Written consent was sought by the trust. On recent visits we have heard from staff who are highly committed to their work, though sometimes frustrated at the pressures and resources available. We have witnessed complex operations and seen state-of-the-art diagnostic equipment. We have seen the constant stream of patients coming into the hospital and the struggle to find beds – hospitals, in effect, a safety net for care shortcomings elsewhere. A day in a hospital is a snapshot of the lives of those who work there, as well as patients who depend on the services offered when they are at their most vulnerable. Source link #BBC #spending #day #hospital #Royal #Free #London #NHS #trust Pelican News View the full article at [Hidden Content]

Ita Buttrose tried to expedite ABC host's dismissal Ita Buttrose tried to expedite ABC host's dismissal Ita Buttrose asked if a casual ABC radio host who shared a post on the Israel-Gaza war could be kicked off air despite a decision to keep her for all shifts. Source link #Ita #Buttrose #expedite #ABC #host039s #dismissal Pelican News View the full article at [Hidden Content]

Only Neil Druckmann Can Change HBO’s Mind With Pedro Pascal’s The Last of Us Franchise Only Neil Druckmann Can Change HBO’s Mind With Pedro Pascal’s The Last of Us Franchise HBO’s highly anticipated video game adaptation of The Last of Us has taken an interesting turn; it is being speculated that HBO will continue with the series for a total of 4 seasons, which seems to be a pill a little too hard to digest, especially considering HBO’s track record. Season 2 of The Last of Us will be released in April. Image Credit: HBO The Last of Us season 2 is on the verge of being released in April 2025. The first season was released in 2023. If the analogy mentioned above is true, then it is fair to believe that the next two seasons will at least take 5 more years to finish by the time we might get a third addition to the game, and HBO would not want to let that opportunity slip away. Neil Druckmann needs to play the creator card to extend the series The Last of Us part 3 might soon become a reality. Image Credit: Naughty Dog Neil Druckmann, the mastermind behind the game and the showrunner of the HBO series, is the only man with the potential to change HBO’s mind since he is the only one with any idea of what The Last of Us can be expanded into. His creative drive and persuasive skills might be the key factors involved in making HBO believe that 4 seasons are not enough to encapsulate the vastness of the game’s universe and that it deserves more for it to feel complete and fulfilled. The Last of Us Show is likely to be done after 4 seasons according to HBO “We don’t have a complete or final plan, but I think it’s looking like four seasons. I wouldn’t want to confirm that, but it’s looking like this season and then two more seasons after this and we’re done.” pic.twitter.com/Mc6Ge6P6Wd — DomTheBomb (@DomTheBombYT) February 12, 2025 This to me is super unlikely unless: 1. The Last of Us Part 3 isn’t coming out 2. The Last of Us Part 3 won’t be adapted 3. The Last of Us Part 3 is being covered in only one season [Hidden Content] — DomTheBomb (@DomTheBombYT) February 12, 2025 I honestly don’t believe this because HBO will likely do Part 2 in 3 Seasons and I assume they would do another couple once The Last of Us Part 3 releases! pic.twitter.com/pruj4nCPi4 — DomTheBomb (@DomTheBombYT) February 12, 2025 The first season of The Last of Us got a pretty great response from the audience and helped widen the scope of the game by enabling it to reach beyond gaming consoles and PCs. The universality of the story resonated with many people, including non-gamers as well, which is a great feat for any creator. However, any announcements regarding The Last of Us Part 3 are non-existent. Druckmann has only vaguely once mentioned that he has many ideas for part 3, but there has been no further development on it. Under these circumstances, there is a slight chance that there might just only be 4 seasons. There is a lot to cover in The Last of Us universe There are a lot of things left unexplored in The Last of Us universe. Image Credit: Naughty Dog The universe of The Last of Us is extremely vast, with a lot of subplots, characters, events, and history. If one wishes to, they can juice a lot of things out of it, and Druckmann might convince HBO to do so if part 3 is not happening. The story of Tommy or the fireflies could be explored to the fullest, or Joel’s backstory and life before the apocalypse. There are just a lot of things that could be covered in the future seasons. However, nothing has been officially announced as of now, and these are just speculations. We might get a clearer picture once season 2 of the show is out in April. What do you think about it? Let us know in the comments below. Source link #Neil #Druckmann #Change #HBOs #Mind #Pedro #Pascals #Franchise Pelican News View the full article at [Hidden Content]

Louisiana hotel surveillance shows Super Bowl reporter with ‘Bourbon Street ********’ just before death Louisiana hotel surveillance shows Super Bowl reporter with ‘Bourbon Street ********’ just before death The so-called “Bourbon Street ********” suspect arrested in connection with a Super Bowl reporter’s Feb. 5 death can be seen in a new security camera photo from the Kenner, Louisiana, hotel where the reporter died just before authorities found him. Adan Manzano, a 27-year-old Telemundo reporter based in Kansas City, Missouri, traveled to New Orleans on assignment to cover Super Bowl LIX. He was found dead on Feb. 5, the same day security footage from the Comfort Suites hotel in Kenner allegedly showed Danette Colbert entering Manzano’s room and Colbert leaving by herself later on, according to Telemundo 39. Colbert, 45, whom Kenner police described as a “career criminal,” is facing four counts of being a fugitive, two counts of a traffic violation, one count of “purse snatching,” one count of aggravated device fraud, one count of ******** transfer of funds, one count of bank fraud, one count of computer fraud and one count of robbery. More charges may be filed once a medical examiner completes Manzano’s autopsy. ‘Bourbon Street ********’ Arrested In Connection With Super Bowl Reporter’s Death Linked To Las Vegas Drugging Telemundo reporter Adan Manzano is seen entering the Comfort Suites hotel with theft suspect Danette Colbert just before his death. Kenner police said Monday that Manzano may have been drugged, and other people have come forward with similar stories about “suspicious deaths under similar circumstances” that authorities are working to investigate, according to FOX 4 Kansas City. Read On The Fox News App On Friday, Kenner Police Department Chief Keith Conley told reporters during a press conference that detectives found one of Manzano’s credit cards was missing while processing his hotel room. Young Telemundo Reporter Adan Manzano Dies In New Orleans Super Bowl Assignment “It was the same credit card that was used to check into the hotel, as well as a cellphone that was missing,” Conley said. Authorities said they also obtained video surveillance footage from security cameras at the hotel and noticed Manzano arriving at his hotel room around 4:35 a.m. on Feb. 5. Colbert can be seen leaving and re-entering his room “a short time later.” Then around 6 a.m., she leaves and does not return, according to Conley. Medical Examiner Reverses Suicide Ruling For Teacher Found Dead With 20 Stab Wounds Detectives reportedly obtained a search warrant allowing them to track the credit card’s location, at which point they were led to Colbert. Danette Colbert, 45, whom Kenner police described as a “career criminal,” is facing four counts of being a fugitive, two counts of a traffic violation, one count of “purse snatching,” one count of aggravated device fraud, one count of ******** transfer of funds, one count of bank fraud, one count of computer fraud and one count of robbery. Authorities said they executed a search warrant at Colbert’s address after identifying her as a potential suspect and located a stolen firearm that did not appear to be related to Manzano’s death, as well as narcotics. Conley said the suspect “plays a confidence game.” Follow The Fox True Crime Team On X “She’s definitely a career criminal. All her crimes are against … persons, such as access device frauds, simple robberies, thefts, things of that nature,” he told reporters. He added that there are three separate criminal cases “in which she’s got access to their personal information and their credit cards in that manner, and there’s several others on her rap sheet.” Telemundo 39 remembered Manzano as “a true professional and a rising star, who exemplified excellence in his work” in a statement. “We will deeply miss Adan and his passion for sports, and the contributions he made to the local community,” the statement reads. Manzano’s wife, Ashleigh Boyd, died in a car ****** last year in Kansas. Original article source: Louisiana hotel surveillance shows Super Bowl reporter with ‘Bourbon Street ********’ just before death Source link #Louisiana #hotel #surveillance #shows #Super #Bowl #reporter #Bourbon #Street #******** #death Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Trump, Modi meeting: Tariffs, trade and visas to dominate talks – BBC.com Trump, Modi meeting: Tariffs, trade and visas to dominate talks – BBC.com Trump, Modi meeting: Tariffs, trade and visas to dominate talks BBC.comIndia’s Modi brings a tariff ‘gift’ to Trump talks ReutersTulsi Gabbard: From suspicious to US establishment to auspicious for Modi dispensation The Times of IndiaWhat Modi and India Can Offer Trump on Trade The New York TimesLive: PM Modi Meets US Intel Chief Tulsi Gabbard, To Hold Presser With Trump After Talks NDTV Source link #Trump #Modi #meeting #Tariffs #trade #visas #dominate #talks #BBC.com Pelican News View the full article at [Hidden Content]

Champions League: Celtic take ******* lessons to avert ‘absolute thumping’ Champions League: Celtic take ******* lessons to avert ‘absolute thumping’ Rodgers’ pre-match wish was for the tie to still be “alive” when his side arrive in Bavaria next week. That will be the case, but it could have been even better. Maeda rounded Manuel Neuer and had a sight at an open goal – albeit from a very acute angle – while Reo Hatate had a long-range hit diverted, and Alistair Johnston’s late strike was saved by the experienced keeper. According to Rodgers, the ******* giants “were happy” for the final whistle. “Celtic made opportunities and Bayern need to keep that in mind,” former Scotland international Pat Nevin said on BBC 5 Live. “They won’t give up and football is strange sometimes. Anything could happen.” On Monday afternoon, no-one thought Maeda would play. By minute 78 of this game, few thought Celtic had any semblance of a chance. And yet here we are. “We hung in against a really top side and gave them problems,” Rodgers added. “We go over next week, we’ll play at a great stadium, great pitch, and we’ve showed we can play. We have to have that aggressive mindset. “We’re still right in the tie. It’s only a one-goal difference. It’s a big challenge, we know that but it’s still a possibility.” Source link #Champions #League #Celtic #******* #lessons #avert #absolute #thumping Pelican News View the full article at [Hidden Content]

Group 'drunk, rowdy' before teen allegedly murdered Group 'drunk, rowdy' before teen allegedly murdered A witness has told a trial the group accused of murdering Cassius Turvey was “a little bit drunk” and armed themselves with weapons before the incident. Source link #Group #039drunk #rowdy039 #teen #allegedly #murdered Pelican News View the full article at [Hidden Content]

Bosses are fed up with remote work for 4 main reasons. Some of them are undeniable Bosses are fed up with remote work for 4 main reasons. Some of them are undeniable The golden age of remote work seems to be ending. The Trump administration is seeking to end remote work for federal employees, with Trump saying, “Nobody’s going to work from home, they’re going to be going out, they’re gonna play tennis, they’re gonna play golf. They’re gonna do a lot of things—they’re not working.” And Fortune 500 companies from JPMorgan to Amazon have called their employees back into office five days a week (much to their chagrin). The economic blogger Kevin Drum, formerly of Mother Jones, has taken note of the increasing anti-remote literature and is making a bold prediction about the future of remote work: There is none. Work is not going to look much different than it’s ever looked. That’s because the remote work revolution just isn’t going to materialize. “Companies that put up with [remote work] for a long time are finally getting sick and tired of [it],” Drum wrote. The reason for that is fairly straightforward: Working from outside the office “simply isn’t as productive as office work, no matter what remote workers say. Too much evidence has piled up to credibly deny this any longer.” He pointed to return-to-office pushes at tech companies where most jobs could be remote, particularly Salesforce, Google, and Meta. Then he highlighted four key pieces of evidence, although asterisks abounded. Still, Drum is worth listening to on this matter: Along with figures like Brad DeLong and Ta-Nehisi Coates, he thrived in the Wild West days of blogging, and at Mother Jones and independently he displayed an aptitude for paying attention to what the data says about major economic subjects and cutting out the noise. For his part, Drum expects most of the private sector to go back to work in the physical sense. “There was remote work before the pandemic, and there will be a little more after the pandemic,” he wrote. “But it’s going to be measured in a small handful of percentage points, not as a revolution in work.” Most remote workers insist they won’t be going back to their sad desk lunches, and many companies are still promising they won’t take attendance ever again, but maybe they should listen to Drum’s warning. Here’s why the tide is turning against remote work (rightly or wrongly). No. 1: Remote work is bad for new hires and junior employees This one is not nearly as controversial as it sounds. Especially when you’re new on the job, being physically present can be an enormous leg up; even the supposedly anti-office Gen Z workers acknowledge the overwhelming truth of this. “We know empirically that [new Salesforce employees] do better if they’re in the office, meeting people, being onboarded, being trained,” CEO Marc Benioff said. “If they are at home and not going through that process, we don’t think they’re as successful.” That could also hurt companies. A survey from Paychex found that 80% of new hires will quit a job if they had a poor onboarding experience, which is much more likely to be the case if they’re welcomed aboard from a distance. Nearly one-third of employees told Paychex they found their onboarding experience confusing. That figure jumped to 36% for remote workers, who were most likely to feel undertrained, disoriented, and devalued after onboarding, compared to their in-person counterparts. As a onetime entry-level product manager, Drum wrote, “I can’t even imagine what it would have been like trying to learn what I needed to know if everyone I had to work with was available only via Zoom or phone or Slack. It’s one thing for existing teams to continue working well from home; it’s quite another to get a new member of a team up and running.” It’s a shame, because proximity bias poses an enduring threat to career advancement. As a result, staying home as an entry-level worker means you’ll be swimming against the current. No. 2: Workers admit that remote work (sometimes) causes more problems than in-person work When executed incorrectly, hybrid work plans can create discordant, unproductive teamwork. That’s especially true when teams don’t make an effort to align their in-office days. Also, remote work has its fair share of downsides. Drum linked back to McKinsey research that found that remote workers are much more likely to report mental and physical health issues and hostile work environments. That’s not the worst of it: 60% of bosses admitted that if they had to make job cuts, they’d come for their remote workers first. Usually, Stanford economics professor and remote work expert Nick Bloom has told Fortune, companies mess up these kinds of plans because they fundamentally misunderstand why people want to work in-person or remotely in the first place. The disaster scenario, which too many companies end up in, is when everyone must come in two days per week or so, with no further clarity. “Then they come in and realize their team is all at home, which defeats the purpose,” Bloom said. “They didn’t come in to use the Ping-Pong table, and there’s no point in coming in just to shout at Zoom all day.” Plus, Bloom, who advocates for organized hybrid arrangements, agrees with pro-office zealot Benioff that newer workers need the office most. No. 3: Remote workers put in 3.5 hours less per day of work compared to in-person workers Sure, it’s true that remote workers squeeze in errands, exercise, and laundry between 9 and 5, but just how much? A working paper submitted to the National Bureau of Economic Research found that remote workers worldwide save 72 minutes a day on average just from avoiding their commute, and that on average, of that time saved, 40% goes to extra work. Drum is unconvinced about the effects in America—and so is the federal government’s own dataset. For his part, Drum sees a 3.5-hour decline in hours worked, and he got the figure from an October 2022 report by Liberty Street Economics, an arm of the Federal Reserve Bank of New York. Researchers David Dam, Davide Melcangi, Laura Pilossoph, and Aidan Toner-Rodgers made calculations based on the American Time Use Survey, a nationally representative survey by the Bureau of Labor Statistics that measures both the amount of time people spend on various activities and where the activities occur. In a damning chart, they found that remote workers “decreased time spent working” and instead increased their time spent on “leisure and sleeping.” The chart clearly showed an increase roughly between three and four hours in time spent on things that are, well, not work. However, not all research points to this trend. An Atlassian study last year found that 1 in 3 Fortune 500 bosses whose companies mandate some amount of in-person work say that the rule hasn’t impacted productivity at all. And 99% of the chief executives Atlassian surveyed said they believe that distributed work is the way of the future. No. 4: Productivity plummets on days when everyone is working remotely (anecdotally) In March 2023, Drum wrote a post highlighting what the CEO of an HR tech firm told the Wall Street Journal: On days his team is working remotely, new subscriber counts plummet 30%. But that’s just one anecdote; even Drum himself says the stat is amazing—“if [the CEO] isn’t exaggerating.” A piece of hard data in Drum’s favor here is the shocking decline in productivity across five straight quarters, unprecedented in the postwar era. EY-Parthenon’s chief economist Gregory Daco told Fortune that he’s heard similar stories from clients across sectors of “reduced productivity because of the new work environment.” Daco added that remote work is only one piece of the puzzle here. “The difficulty is that there is no magic productivity wand.” Other experts are more skeptical. “What I suspect is if you took out all the time at work talking about the Super Bowl, politics, your weekend, etc., working from home would involve more actual working minutes [than working in an office],” Bloom, the remote work evangelist, told Fortune’s Tristan Bove. Workers themselves certainly beg to differ on this point. According to a Pew Research survey, pro-remote workers (especially parents and caregivers) have a better work-life balance and are more productive and focused. According to an October 2022 survey of white-collar workers from Slack’s think tank, Future Forum, those with full schedule flexibility showed 29% higher productivity scores than employees with no flexibility at all, and remote and hybrid workers reported 4% higher productivity than their fully in-office counterparts. The Pew survey respondents acknowledged that not being in the office could be hurting their opportunities for advancement, mentoring, and making connections, but they believe they’re more productive. But the tide is turning for many reasons, and whether workers believe they’re more productive remotely or actually are, they may not have much of a choice in the matter. Correction: This article has been updated to clarify that the research indicating remote workers spend less time working relates to hours per day, not per week. A version of this story originally published on Fortune.com on June 14, 2023. This story was originally featured on Fortune.com Source link #Bosses #fed #remote #work #main #reasons #undeniable Pelican News View the full article at [Hidden Content]

Trade, tariffs and visas to dominate Trump-Modi talks – BBC.com Trade, tariffs and visas to dominate Trump-Modi talks – BBC.com Trade, tariffs and visas to dominate Trump-Modi talks BBC.comPM Modi Meets US Intel Chief Tulsi Gabbard. Here’s What They Discussed NDTVIndia’s Modi brings a tariff ‘gift’ to Trump talks ReutersWhat Modi and India Can Offer Trump on Trade The New York TimesPM Modi welcomed by Indian diaspora in US, meets Tulsi Gabbard: Top developments The Times of India Source link #Trade #tariffs #visas #dominate #TrumpModi #talks #BBC.com Pelican News View the full article at [Hidden Content]