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Charts indicate further downside is ahead for Tesla, auto stocks just as tariff threat emerges Charts indicate further downside is ahead for Tesla, auto stocks just as tariff threat emerges Auto stocks faced a steep sell-off at Monday’s open following the implementation of new tariff policies. Electric and autonomous vehicle companies were hit particularly hard. This newfound struggle for auto stocks could contribute to a broader, long-term trend of underperformance for the industry group, with technical headwinds expected to persist. The Global X Autonomous and Electric Vehicles ETF (DRIV) has been in a sustained downtrend since late 2021, and the chart points to further declines over the intermediate term. After failing to break above long-term trendline resistance, DRIV appears to have downside risk to a long-term support zone closer to $20. The stochastic oscillator is pointing lower with room to oversold territory, and a new MACD ‘sell’ signal increases the possibility of a test of support as geopolitical tensions foster more selling pressure. Tesla (TSLA) is DRIV’s largest holding, accounting for about 5% of its weighting, and it has seen a loss of intermediate-term upside momentum solidified by a breakdown below its 50-day moving average Monday. TSLA reached new all-time highs after we last featured it on December 9 and it has since entered a corrective phase that we expect to continue, ultimately allowing for a more favorable entry point within TSLA’s long-term uptrend. Like DRIV, TSLA has a new MACD ‘sell’ signal and room to oversold levels, suggesting further downside toward support near $350, if not secondary support around $314-$315. With both DRIV and TSLA showing intermediate-term downside potential, the outlook for electric and autonomous vehicles looks tenuous. Key support levels are in play for traditional automakers, as well, with Ford Motor (F) testing previous lows and General Motors (GM) testing its 200-day moving average. Until the technical indicators show improved intermediate-term momentum, we would be managing risk to the downside in auto stocks. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer. Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC (“Fairlead Strategies”) for informational purposes only. This material is for illustration and discussion purposes and not intended to be, nor construed as, financial, legal, tax or investment advice. You should consult appropriate advisors concerning such matters. This material presents information through the date indicated, reflecting the author’s current expectations, and is subject to revision by the author, though the author is under no obligation to do so. This material may contain commentary on broad-based indices, market conditions, different types of securities, and cryptocurrencies, using the discipline of technical analysis, which evaluates the demand and supply based on market pricing. The views expressed herein are solely those of the author. This material should not be construed as a recommendation, or advice or an offer or solicitation with respect to the purchase or ***** of any investment. The information is not intended to provide a basis on which you could make an investment decision on any particular security or its issuer. This document is intended for CNBC Pro subscribers only and is not for distribution to the general public. Certain information has been provided by and/or is based on third party sources and, although such information is believed to be reliable, no representation is made with respect to the accuracy, completeness, or timeliness of such information. 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In addition, any opinions and assumptions expressed herein are made as of the date of this communication and are subject to change and/or withdrawal without notice. Fairlead Strategies or its affiliates may have positions in financial instruments mentioned, may have acquired such positions at prices no longer available, and may have interests different from or adverse to your interests or inconsistent with the advice herein. Any investments made are made under the same terms as nonaffiliated investors and do not constitute a controlling interest. No liability is accepted by Fairlead Strategies, its officers, employees, affiliates, or partners for any losses that may arise from any use of the information contained herein. Any financial instruments mentioned herein are speculative in nature and may involve risk to principal and interest. Any prices or levels shown are either historical or purely indicative. This material does not take into account the particular investment objectives or financial circumstances, objectives or needs of any specific investor, and are not intended as recommendations of particular securities, investment products, or other financial products or strategies to particular clients. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. The material should not be provided to any person in a jurisdiction where its provision or use would be contrary to local laws, rules, or regulations. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies. Source link #Charts #downside #ahead #Tesla #auto #stocks #tariff #threat #emerges Pelican News View the full article at [Hidden Content]

Ontario cancels Starlink contract in latest ********* tariffs protest Ontario cancels Starlink contract in latest ********* tariffs protest Ontario Premier Doug Ford speaks to journalists at a provincial and territorial leaders meeting in Ottawa, Ontario, Canada Jan. 15, 2025. Blair Gable | Reuters The leader of Canada’s most populous province of Ontario said Monday he’s ripping up a contract with Elon Musk’s Starlink internet services in response to U.S. President Donald Trump’s sweeping tariffs on Canada. Ontario Premier Doug Ford, who said he is also banning American companies from provincial contracts, signed a $100-million ********* (U.S. $68 million) with Musk’s company in November to deliver high-speed internet to remote residents in rural and northern Ontario. “We’ll be ripping up the province’s contract with Starlink. Ontario won’t do business with people hellbent on destroying our economy,” Ford said. “President Trump is the only person to be blamed. Maybe Elon Musk can call his buddy? This is one of the ramifications.” Ford said U.S.-based businesses will lose out on “tens of billions of dollars” in new revenues as a result of Ontario’s response. Elon Musk attends the America First Policy Institute gala at Mar-A-Lago in Palm Beach, Florida, Nov. 14, 2024. Carlos Barria | Reuters “We just aren’t going to be using American companies,” Ford said. “And no matter if we are building a hospital, if we’re building anything, if we’re building a dog house I want to make sure we are using Ontario steel, ********* products, ********* wood, Ontario wood, anything. “I don’t care if it’s a toothpick. We need to purchase from Canada and Ontario.” Ontario and other provinces already planned to remove American liquor brands from government store shelves. The Liquor Control Board of Ontario sells nearly $1 billion worth of American wine, beer, spirits and seltzers every year, Ford pointed. “Canada didn’t start this fight with the U.S., but you better believe we’re ready to win it,” said Ford, who called an election for his province last week. Ford said he wants a four year mandate that outlasts Trump’s term. “He wants to come after us?” he asked. “I’ve yet to hear one American citizen say Canada is the problem.” Canada and Mexico ordered retaliatory tariffs on American goods in response to sweeping tariffs imposed by Trump. Ford also encouraged businesses to put the ********* flag on products so Canadians know what to buy. “This is a tax on American citizens. That’s what Donald Trump is doing to his own people,” said Ford, who described Musk as part of the Trump team “that wants to destroy families incomes, destroy businesses. He want to take food off the table of hard working people and I’m not going to tolerate it.” Trump responded Sunday, criticizing Canada’s trade surplus with the United States and contending that without that surplus, “Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada — AND NO TARIFFS!” Source link #Ontario #cancels #Starlink #contract #latest #********* #tariffs #protest Pelican News View the full article at [Hidden Content]

Is a recession inevitable? Why tariffs pose worst ‘trade shock’ since 1930s – National Is a recession inevitable? Why tariffs pose worst ‘trade shock’ since 1930s – National U.S. President Donald Trump’s tariffs on Canada, and Canada’s retaliatory measures, could be the most “significant trade shock” that Canada has suffered in nearly 100 years, economists say. So does that mean a recession is inevitable? A Royal Bank of Canada report on Sunday compared the trade shocks from Trump’s tariffs to the ones caused by the Smoot-Hawley tariffs of the 1930s. The Tariff Act of 1930, which created what’s known as the Smoot-Hawley tariffs, was an American law that raised U.S. tariffs on a sweeping range of products being exported to the United States. The tariffs were widely believed to have worsened the recession during the Great Depression. “This shock far surpasses the 2018 tariffs in magnitude, diminishing the value of that ******* as a helpful guide for the economic impact ahead,” RBC chief economist Frances Donald and assistant chief economist Nathan Janzen said in a new report. Story continues below advertisement “For context, in 2018, the U.S. average import tariff rose from 1.5% to roughly 3%. Under the new policy, the U.S. average tariff rate [rose] to nearly 11%, the highest average ratio since the 1940s.” Could Canada avoid a recession? Economists generally define a recession as two consecutive quarters of an economy contracting. The RBC report said Canada could avoid a full-blown recession if the tariffs are in place for no more than a few weeks. “Tariffs removed within a matter of weeks are likely to create a temporary stall for Canada. However, if they extend over a matter of months (e.g. 3-6 months), Canada’s recessionary risks increase rapidly,” the report said. 1:54 Potential tarrif impacts on food prices Tu Nguyen, economist at RSM Canada, said sustained U.S. tariffs and a response from Canada could likely see the ********* economy contract by two per cent – a sharp contrast to the projected 1.8 per cent growth rate for 2025. Story continues below advertisement She said Canada could head into a recession, including job losses and inflation. “[Tariffs and counter-tariffs] would also lift inflation from the current two per cent to a 2.7 per cent headline number, as some of the increased costs from tariffs are passed onto ********* consumers,” she said. The RBC report said sustained tariffs would mean Canada could take up to three years to recover from the effects of a recession. Get daily National news Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day. “If sustained, our initial analysis suggests that tariffs of this size (based on many assumptions) could wipe out ********* growth for up to three years, with the largest impacts in the first and second years,” the report said. The RBC report concurred with the Bank of Canada’s findings that a 25 per cent tariff applied across the board would reduce ********* GDP by 3.4 to 4.2 per cent. ********* manufacturing to take a hit Nguyen said Canada will likely see lower demand for “all goods and services like new cars, dining out and entertainment.” Trending Now Canada’s retaliatory tariffs: Here’s the list of targeted items Support, silence and confusion: Republicans respond to Trump’s trade war Story continues below advertisement The auto sector in the U.S., Canada and Mexico will be particularly hard hit, she said, losing out to competitors in Europe and Asia. “The scenario in which economic damage is minimized is one in which a trade agreement is negotiated, putting an end to tariffs. The longer tariffs and retaliation continued, the more fractured and uncompetitive the three countries’ economies became — and the more economic pains consumers would feel from higher prices, fewer goods available and fewer jobs,” she said. 0:34 ********* sports fans boo U.S. national anthem in response to Trump tariffs According to RBC, Canada’s manufacturing sector accounts for nine per cent of the total GDP and 70 per cent of total trade with the U.S. “Canada’s manufacturing sector is most exposed, but the knock-on effects will also matter in many other indirectly exposed industries,” the report said. The industry that could be hit the hardest is the auto manufacturing sector and in addition to job losses and slower economic growth, Canadians could face higher prices. Story continues below advertisement “Prices of perishable goods such as fruits and vegetables are likely to jump as early as this coming week, given that they cannot be stockpiled in advance. Although the price of goods like appliances and cars would take longer to increase, they will inevitably rise,” Nguyen said. The RBC report said the American economy, too, would feel the pain of Trump’s new policy. American manufacturing businesses are likely to slow down and American consumers are likely to feel the burden on their pocketbooks. “While the U.S. economy is starting from a relative place of strength (and is far less reliant on trade), it will face a shock large enough to adjust most forecasts downward on growth and upwards on inflation. Additional retaliatory policies from Canada and/or Mexico will likely exacerbate these impacts,” the report added. Are you changing your spending habits, either to buy ********* or try to save more in case of hard economic times ahead? Email us at *****@*****.tld about how your spending is changing because of the tariffs, and we may be in touch for future stories. More on Canada More videos &copy 2025 Global News, a division of Corus Entertainment Inc. Source link #recession #inevitable #tariffs #pose #worst #trade #shock #1930s #National Pelican News View the full article at [Hidden Content]

AP Explains: “Stakes are high” ahead of Israeli PM’s meeting with Trump – The Associated Press AP Explains: “Stakes are high” ahead of Israeli PM’s meeting with Trump – The Associated Press AP Explains: “Stakes are high” ahead of Israeli PM’s meeting with Trump The Associated PressUpdates: Israel’s Netanyahu in US as more medical evacuees leave Gaza Al Jazeera EnglishNetanyahu blows past ceasefire talks deadline to confer with Trump CNNNetanyahu’s office shares schedule of meetings with top US officials in Washington The Times of Israel Source link #Explains #Stakes #high #ahead #Israeli #PMs #meeting #Trump #Press Pelican News View the full article at [Hidden Content]

South Africa’s President Fires Back at Trump’s False Claim of Land Seizures South Africa’s President Fires Back at Trump’s False Claim of Land Seizures South Africa’s president fired back at President Trump on Monday after the American leader accused the South African government of “confiscating land” and “doing some terrible things, horrible things.” President Cyril Ramaphosa of South Africa said in a statement that his country had not seized land. Rather, he said that a law he recently signed on land expropriation struck a careful balance between using land for public good and protecting private property rights. “We look forward to engaging with the Trump administration over our land reform policy and issues of bilateral interest,” Mr. Ramaphosa said. During his first term as president, Mr. Trump claimed that land seizures from white South Africans were rife, a false narrative pushed by some right-wing groups in South Africa. Mr. Trump said on Sunday in posts on Truth Social and comments to reporters that the United States would cut off aid to South Africa pending an investigation into the country. But Mr. Ramaphosa said that other than a program to battle H.I.V. and AIDS, South Africa receives no funding from the United States. The issue of land has been a contentious one in South Africa for generations. In 1913, the colonial government passed a law confining ****** South Africans to just 7 percent of the country’s territory, essentially dispossessing many ****** people from their land. Although the ****** population would make slight gains in land ownership in subsequent decades, that uneven distribution remained largely in place. Since the end of apartheid in 1994, the government has made efforts to redistribute some land to ****** people. But white South Africans, who comprise about 7 percent of the population, continue to dominate land ownership. White-owned farms occupy about half of South Africa’s surface area. Still, those facts have done little to stop some on the far-right in South Africa from promoting the false narrative that white South Africans have been widely dispossessed of their land and have even been victims of genocide. Elon Musk, who was born in South Africa and is a close adviser of Mr. Trump, has pushed some of those conspiracy theories. In the post-apartheid era, the ******-led government in South Africa mostly purchased land from willing white sellers, rather than taking it without compensation. The law that Mr. Ramaphosa signed does allow for land to be taken without compensation, but analysts say there are many checks and balances in place to prevent abuse. The most likely application, analysts say, will be to take land that is not in use. Many of the country’s most staunch land redistribution activists argue that the law does not go far enough. Ronald Lamola, South Africa’s foreign minister, likened the law to eminent domain in the United States, saying in a statement that “our expropriation act is not exceptional.” Source link #South #Africas #President #Fires #Trumps #False #Claim #Land #Seizures Pelican News View the full article at [Hidden Content]

How Costs for Online Sales After Trump’s Trade Move How Costs for Online Sales After Trump’s Trade Move President Trump’s decision to impose hefty tariffs on Canada, Mexico and China included a little-noticed but significant change to how online purchases will be taxed when they enter the United States. One provision of Mr. Trump’s executive order will increase costs for more than 80 percent of U.S. e-commerce imports. The decision could shift the landscape for online sales from ******** vendors like Shein and Temu that have swiftly expanded their market share by sending cheap goods into the United States. The president’s order erased a workaround that many companies have taken advantage of in recent years, particularly since Mr. Trump imposed tariffs on ******** products in his first term. The provision, known as the de minimis exception, allowed certain products that were sent directly to consumers from online platforms to come into the United States without facing tariffs, a huge tax advantage. This obscure provision of trade law underpins major business models. Shein, Temu and many sellers on Amazon have used the de minimis exemption to bypass tariffs. The exemption allows packages to be shipped from other countries without paying tariffs, as long as the shipments do not exceed $800 per recipient per day. But critics say the de minimis measure has also helped fuel an American drug crisis. Importers who use de minimis do not have to provide as much information to U.S. Customs and Border Protection as they do with other packages, for ease of processing. That means drugs and the precursors used to make them could be more easily shipped into the United States without the government catching them. De minimis stems from a century-old trade law that was originally intended for shipments that would be too trivial to merit the attention of customs. But the use of this provision has exploded in popularity. A report released last week by the Congressional Research Service found that ******** exports of low-value packages soared to $66 billion in 2023 from $5.3 billion in 2018. While Mr. Trump’s executive order applies to China, Canada and Mexico, China is by far the biggest source for such packages. The country is responsible for about two-thirds of them, sending more than all other countries combined, according to federal statistics. The carve out has given an advantage to ******** companies like Shein and Temu, which ship millions of low-value packages directly to consumers’ doorsteps each year. That ability to bypass tariffs has helped Shein and Temu to offer cheap prices, boosting their popularity. According to the Congressional Research Service, the two companies together hold about 17 percent of the discount e-commerce market in the United States for fast fashion, toys and other consumer goods. That has angered traditional retailers, which typically bring big bulk shipments to their warehouses that they must pay tariffs for. Retailers like Walmart and Amazon had been facing pressure to shift more toward Temu and Shein’s model of shipping directly to consumers from China, which would have meant they were creating fewer jobs in U.S. distribution centers. Express delivery companies like FedEx and UPS that fly many of the packages across the Pacific from China have also spoken out in favor of preserving the de minimis exception. But the Trump administration is focused on targeting de minimis for another reason: its apparent ties to the fentanyl trade. A White House official said in a call with a reporter on Saturday that the provision was causing the United States to lose a tremendous amount of tariff revenue and also impeding the efforts of customs officials to catch fentanyl shipments arriving in packages. A group of law enforcement, trade and drug prevention groups sent a letter to Mr. Trump last month asking him to end the trade exception, saying it was “flooding the United States with fentanyl, fentanyl precursors, pill presses and other illicit goods from China and other countries.” The issue has percolated for years, but efforts to limit or end the provision have recently gained momentum. Lawmakers have been considering legislation to the de minimis rule and the Biden administration proposed changes last year that would narrow the exception when it came to China, but they have not yet taken effect. Congressional proposals to change de minimis would have preserved an exemption for international travelers who bring up to $800 worth of overseas purchases into the United States in their luggage, allowing them to avoid making customs declarations and paying duties at American airports and other points of entry to the United States. By contrast, Mr. Trump’s executive orders made no mention of preserving the de minimis exemption for people entering the United States. Depending on how customs officials handle it, that could complicate entry to the United States starting on Tuesday for people traveling from Canada, Mexico or China. Timothy C. Brightbill, a lawyer at Wiley Rein, said the change made by the Trump administration would “have broad impacts on many businesses and industries.” He said a variety of importing industries had “abused” de minimis provisions, and eliminating the loophole would be consistent with the president’s goal of addressing fentanyl shipments. China’s Ministry of Commerce had no response on Monday to questions about Mr. Trump’s decision. Shein and Temu, also did not respond to a request for comment. A ******** embassy spokesperson said that China firmly opposed the imposition of tariffs, and that there is no winner in a trade war. Congress raised the de minimis exemption in 2016 to $800 from $200 in response to complaints from American customs officials that they were already struggling then to examine all the packages coming in. With the increase in the exemption, the number of low-value packages sent to the United States each year has soared. Since many Americans purchase such packages, the change will also come with an economic cost. Research has found that eliminating the de minimis exception entirely would result in costs of $11 billion to $13 billion for American consumers and disproportionately hurt poorer and ********* households. Amit Khandelwal, an economist at Yale University who is an author of a study on the trade provision, said his research found that lower-income Americans spent a disproportionate amount on de minimis shipments and imports from China compared with wealthier consumers. “Lower-income individuals will be hurt more,” he said. “Domestic retailers, domestic producers, they obviously would benefit from taxing those imports, but there is a cost.” Ending the de minimis exception will result in one other interesting change: The official figures for U.S. trade with China, and the U.S. trade deficit, will immediately rise. De minimis shipments do not appear in the typical trade data that is released by the census. The change will mean that perhaps as much as $100 billion of trade will no longer be missing from official statistics, said Brad W. Setser, an economist at the Council on Foreign Relations. “It brings shadow trade back out of the shadows.” Source link #Costs #Online #Sales #Trumps #Trade #Move Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

All Saints school Sheffield stabbing victim, 15, dies as teenager arrested All Saints school Sheffield stabbing victim, 15, dies as teenager arrested Tim Dale, Simon Thake and Chloe Aslett BBC News, Yorkshire BBC The area has been sealed off as police begin investigations A 15-year-old boy has died after being stabbed at a school in Sheffield, police have said. He was injured at All Saints Catholic High School, in Granville Road in the city, at about 12:17 GMT. Police and paramedics were called but the teenager died a short time later. A 15-year-old boy has been arrested on suspicion of ******* and remains in police custody, South Yorkshire Police said. Assistant Chief Constable Lindsey Butterfield told a press conference the force was working “at pace to build a full picture of what had happened and how this tragedy unfolded”. “We urge you to be mindful that there are loved ones at the centre of this,” she added. Watch: Police confirm details of Sheffield stabbing A large police presence remained at the school and in the immediate area. All Saints head teacher Sean Pender had sent a message to parents on 29 January about a lockdown at the site. In it, he said the action was due to “threatening behaviour between a small number of students”. ACC Butterfield was asked during the news conference about the reports but the officer said she could not share any information relating to it. She concluded the press conference by urging people to avoid speculation and the sharing of content online “which could be distressing to them [the family] and detrimental to our investigation”. The school closed and sent pupils home after the incident The school was last inspected by Ofsted in October 2023 and was rated as Good overall, with inspectors saying the school had a “strong ethos of warmth and respect”. A number of parents had arrived at the school to collect their children earlier. One told the BBC they were keen to get their youngster home after hearing a variety of rumours about what had happened, adding the “kids were getting panicked”. According to the local newspaper The Star, the school’s head teacher sent a message to parents today. He said it was with “shock and sorrow” that he had to tell people a pupil had been fatally stabbed. He also said the school would be closed on Tuesday. Amaan Ahmed, who manages the Castle Asian Community Trust near the school, said the area was no stranger to knife crime. The organisation works with young people to help them stay away from knives. He feared the boy’s death would leave parents wondering if they should send their children back to school. “If it can happen in a public place like a school, people will be worried about going to the park I think too,” he added. Police remain at the scene to “reassure parents and residents” Louise Haigh, the MP for Sheffield Heeley, said the news was “horrific” and her thoughts were with all affected. “A criminal investigation will now obviously take place but serious questions will have to be answered about how this could have happened and I will be working with the school, the police and the council to make sure they are,” she added. Education Secretary Bridget Phillipson said she was “devastated” by the boy’s death, while in an emotional statement education minister Catherine McKinnell told the Commons: “My heart goes out to his family, friends and the entire school community at this very distressing time.” South Yorkshire Mayor Oliver Coppard said he had spoken with Lauren Poultney, the county’s chief constable, and offered her his full support. “This morning a teenage boy went to school like thousands of others across South Yorkshire but won’t come home; a young man who was a member of our community, with his whole life ahead of him,” he said. Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North or tell us a story you think we should be covering here. Source link #Saints #school #Sheffield #stabbing #victim #dies #teenager #arrested Pelican News View the full article at [Hidden Content]

Kingdom Come: Deliverance 2 (PS5) Review – CGMagazine Kingdom Come: Deliverance 2 (PS5) Review – CGMagazine Kingdom Come: Deliverance 2 had a lot of promise, with its gripping story and beautiful landscapes, at least until the technical issues started showing up and completely ruined the experience. Source link #Kingdom #Deliverance #PS5 #Review #CGMagazine Pelican News View the full article at [Hidden Content]

Timothy John Goosen: Drunk driver who drove on wrong side of road causing fiery ****** avoids immediate prison Timothy John Goosen: Drunk driver who drove on wrong side of road causing fiery ****** avoids immediate prison A Palmdale man was spared jail after drink-driving and veering on to the wrong side of the road, causing a fiery ****** that saw his leg partially amputated at the scene and another man’s spine fractured. Source link #Timothy #John #Goosen #Drunk #driver #drove #wrong #side #road #causing #fiery #****** #avoids #prison Pelican News View the full article at [Hidden Content]

People ****** to leave Santorini as earthquakes continue People ****** to leave Santorini as earthquakes continue STORY: :: Long lines form at Santorini’s ferry ports as earthquakes shake the Greek island :: February 3, 2025 :: Santorini, Greece :: Tzanis Lignos “For three days now there have been earthquakes all the time, every five minutes, it is continuous, they don’t stop at all, the entire island is traumatized. We have been looking for tickets for three days now we could not find any for the ferries or the airplanes, they didn’t exist. Last night when we tried to book a ticket the last one was gone, there was nothing, planes were all booked. They put on some extra flights but the tickets are really expensive, they have reached 300-350 euros per person. You can’t find seats. Luckily we found (boat) tickets for me, my wife and the children.” Tremors have been recorded between the volcanic islands of Santorini and Amorgos in the Aegean Sea since Friday (January 31), forcing authorities to close schools in Santorini and the nearby islands of Ios, Amorgos and Anafi. Quakes, some with a magnitude above 4, rattled Santorini every few minutes on Monday as people were advised to stay out of indoor spaces and small ports. Disaster response units were deployed on the ground as a precaution. Experts have said that the seismic activity on the island, some of whose most populated areas are perched on steep cliffs, will continue for weeks. Local officials said permanent residents were not particularly worried as they have been used to quakes but some who were on the island for work were moving out. Source link #People #****** #leave #Santorini #earthquakes #continue Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Netanyahu’s office shares schedule of meetings with top US officials in Washington – The Times of Israel Netanyahu’s office shares schedule of meetings with top US officials in Washington – The Times of Israel Netanyahu’s office shares schedule of meetings with top US officials in Washington The Times of IsraelNetanyahu blows past ceasefire talks deadline to confer with Trump CNNNetanyahu flies to US to discuss ‘victory over ******’ with Trump Al Jazeera EnglishAs Netanyahu and Trump to meet, Ron Dermer has to find ‘the formula of the century’ The Times of Israel Source link #Netanyahus #office #shares #schedule #meetings #top #officials #Washington #Times #Israel Pelican News View the full article at [Hidden Content]

Bill Gates on wealth, influence and technology Bill Gates on wealth, influence and technology The Microsoft founder gives his verdict on the alliance between Trump and Musk. Source link #Bill #Gates #wealth #influence #technology Pelican News View the full article at [Hidden Content]

Under Defeat (PS5) review – CGMagazine Under Defeat (PS5) review – CGMagazine bfrye26|5m ago|Review|0| ▼ Info Add Alt Source Under Defeat (2025) is a remaster of the expertly crafted 2005 vertical shooter, offering tight gameplay, striking art, infectious music, and shmup-friendly extras that make its high difficulty rewarding and replayable. PS5 Under Defeat cgmagonline.com Read Full Story >> [Hidden Content] cgmagonline.com Source link #Defeat #PS5 #review #CGMagazine Pelican News View the full article at [Hidden Content]

Bulk-billing clinics pocket $2m tax rebate as NSW battles to keep hospitals running Bulk-billing clinics pocket $2m tax rebate as NSW battles to keep hospitals running Bulk-billing GPs have walked away with more than $2m in payroll tax rebates in just three months as part of one state government’s initiative to reduce the strain on emergency services. The NSW government established an ongoing payroll tax rebate for clinics employing contractor GPs which meet bulk-billing thresholds in last year’s state budget. Under the initiative, clinics which achieve 80 per cent bulk-billed appointments in metropolitan Sydney and 70 per cent in other areas of the state are eligible for the payroll tax rebate. Between September 4 and December 31, 2024 – the first three months of the program – clinics claimed a rebate on more than $41m of GP wages, resulting in a $2.2m rebate. Finance Minister Courtney Houssos said the $189 program was the first time a NSW government had “made a strategic investment to support bulk-billing rates”. Camera IconBulk-billing GPs in NSW have walked away with more $2m in payroll tax rebates in just three months. NCA NewsWire / Martin Ollman Credit: News Corp Australia “By relieving cost pressures on GP clinics, they can keep bulk-billed appointments available and accessible to patients,” Ms Houssos said. “This is an important step as we roll out the Bulk-Billing Support Initiative and shows the government is delivering important cost-of-living relief to families and households. “It’s encouraging to see clinics begin to take up the Bulk-Billing Support Initiative. “As we progress through the year we expect to see more clinics claiming the rebate and the benefits flowing to patients and their families.” The program is designed to reduce strain on emergency departments statewide, with a one per cent drop in bulk-billing equating to about 3000 more presentations at hospitals. Health Minister Ryan Park said the lack of access and availability of bulk-billing GPs was taking an enormous toll on the state’s hospitals. Camera IconHealth Minister Ryan Park said the lack of access of bulk-billing GPs was taking a toll on the state’s hospitals. NewsWire / John Appleyard Credit: News Corp Australia “This initiative is critical to alleviating pressure on our emergency departments.” Marginally more of the rebate was claimed by metropolitan clinics, at 55 per cent of the total rebate, while the remaining 45 per cent were regional clinics. A further $104m in historical payroll tax liabilities, accrued under the previous Liberal-Nationals government, were also waived by the Minns government. The government said industry bodies had warned that without tax forgiveness, some clinics would close and half would pass a $20 on to patients. Source link #Bulkbilling #clinics #pocket #tax #rebate #NSW #battles #hospitals #running Pelican News View the full article at [Hidden Content]

Nvidia Shares Fall as CEO Huang Sells $14M in Stock Daily Nvidia Shares Fall as CEO Huang Sells $14M in Stock Daily Nvidia (NVDA, Financial) stock experienced a 3% decrease on Monday morning trading after the reports revealed that the CEO of Nvidia, Jensen Huang, ‘s substantial stock disposal worth approximately $14 million per day. The public questions why Huang would choose to sell his shares when Nvidia’s stock price dramatically increased while his net worth reached $92 billion. The pre-programmed 10b5-1 sales plan run by Huang to prevent insider trading has stimulated regulatory questions because of the stock price decline that followed the purchase. The repetitive stock sales made by Huang, according to corporate governance experts, create uncertainties about the company’s long-term stability because observers wonder if he believes Nvidia will lose its clear path to future success. The amount of stock Huang sold increased substantially when he sold $323 million worth of shares in July. Other investors believe that planned minimal sales should not disrupt Nvidia’s market position and that they help minimize market volatility. The company faces ongoing pressure for increased transparency in governance procedures because experts predict that unclear plans about succession may damage investor faith in future company performance. This article first appeared on GuruFocus. Source link #Nvidia #Shares #Fall #CEO #Huang #Sells #14M #Stock #Daily Pelican News View the full article at [Hidden Content]

Japan tightens chipmaking export controls amid US-China tech tensions Japan tightens chipmaking export controls amid US-China tech tensions Japan is tightening restrictions on the export of advanced processors, cryocoolers for quantum computers, and lithography machines to prevent their usage in military applications. The new policy is set to be enacted in May, and from then on, companies will have to obtain export licenses before selling their high-tech products overseas, reports The Japan Times. In addition, the Japanese government added 42 ******** companies to its blacklist. China has criticized the move, warning of potential trade disruptions. The new rules include controls on cryogenic cooling systems essential for quantum computing and processors that could be used in guided missile systems. Japanese officials stress that these measures prevent military use rather than target specific countries. These restrictions follow concerns from the U.S. over re-exports of high-performance Nvidia GPUs for AI to China, even though the report does not explicitly state that Japan will ban re-exports of Nvidia GPUs to other countries. In addition to tightening technology exports, Japan has expanded its list of foreign organizations subject to trade restrictions. The Ministry of Economy, Trade and Industry has added 42 entities worldwide, raising the number of ******** companies, research institutions, and other organizations under Japanese export control to around 110. The updated list will be enforced starting February 5. Beijing has vehemently opposed these measures, arguing that they could disrupt international supply chains and hinder business activities. The Ministry of Commerce in China urged Japan to ensure that economic relations between the two nations are not negatively affected. In recent months, China has been making diplomatic efforts to strengthen ties with U.S. allies, including Japan. Foreign Minister Wang Yi extended an informal invitation to Japanese Prime Minister Shigeru Ishiba to attend the opening of the Asian Winter Games in Harbin in early February. However, Japanese officials consider the trip unlikely due to scheduling conflicts. Ishiba is expected to meet with U.S. President Donald Trump on February 7, which takes priority over any visit to China. Meanwhile, diplomatic talks between the two countries have continued as Foreign Minister Takeshi Iwaya met Wang Yi and Premier Li Qiang in Beijing late last year. Both sides agreed to promote tourism and maintain open channels for security discussions. Despite increasing trade restrictions, Japanese companies have benefited from strong demand for chipmaking equipment from ******** firms, and sales of such tools reached record highs last year. However, the long-term impact of these new controls on Japan’s technology sector remains uncertain as businesses assess the potential loss of a key market. Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox. Source link #Japan #tightens #chipmaking #export #controls #USChina #tech #tensions Pelican News View the full article at [Hidden Content]

The weirdly whimsical PBJ – The Musical hits the App Store on March 26 The weirdly whimsical PBJ – The Musical hits the App Store on March 26 Who hasn’t sat up at night, pondering what it would be like to play a musical mobile game about peanut butter and jelly, performed in faux Shakespearean verse and animated in the style of Terry Gilliam’s Monty Python shorts? Well, wonder no more: The absurdist PBJ – The Musical (first previewed at Day of the Devs ’24) heads to the App Store on March 26. Kamibox’s PBJ – The Musical is a collaboration between studio founder Philipp Stollenmayer and English musician and comedian Lorraine Bowen, famous for the delightfully whimsical “The Crumble Song.” “When I saw Lorraine performing on Britain’s Got Talent in 2015, getting the Golden Buzzer from David Walliams, I knew I wanted to make something with her,” Stollenmayer said. “The quirkiness of her songs totally resonated with the vibe of my games,” which include Sometimes You Die and the thematically similar Bacon – The Game. Kamibox PBJ – The Musical borrows elements of Shakespeare’s Romeo and Juliet, blending it with musical theatre (performed mostly by children!) and animated paper landscapes from actual cutouts. (When he isn’t designing deceptively zany games, Stollenmayer is also a papercraft artist.) Peanut Boy, hailing from a ****** and white post-war America, steps in for Romeo, while Strawberry Girl, from a colorful and sweet world that raves of royalty, tackles the game’s equivalent of Juliet. You control characters through simple taps and drags as you push and pull cutout figures through the diorama. The developer says that, unlike the Bard’s version, this is no tragic play culminating in dual suicides. (Or, at least, not the kind to be sad about.) Kamibox says the game’s happy ending involves — surprise! — the creation of the beloved peanut butter and jelly sandwich, which a modern-day Shakespeare may have called “The brightest heaven of invention” as he packed little Susanna’s lunchbox. You can catch a snippet of the zany PBJ – The Musical in the trailer below. It arrives for iPhone and iPad on March 26 for $4. You can preorder it now in the App Store. To view this content, you’ll need to update your privacy settings. Please click here and view the “Content and social-media partners” setting to do so. If you buy something through a link in this article, we may earn commission. Source link #weirdly #whimsical #PBJ #Musical #hits #App #Store #March Pelican News View the full article at [Hidden Content]

Vanguard cuts fees for nearly 100 funds, including ETFs with billions in assets Vanguard cuts fees for nearly 100 funds, including ETFs with billions in assets Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Asset management giant Vanguard announced broad fee cuts for many mutual funds and ETFs on Monday, reinforcing its standing as one of the cheapest options for investors. The move reduces fees on 87 different funds, and 168 total share classes of those funds. The average fee cut is 20% per share class. Vanguard said this is its biggest fee cut ever and will save investors about $350 million this year, based on current asset levels. “We’re proud to build on Vanguard’s legacy of lowering the costs of investing—which we have done more than 2,000 times since our founding—by announcing our largest ever set of expense ratio reductions. Lower costs enable investors to keep more of their returns, and those savings compound over time,” Vanguard CEO Salim Ramji said in a press release. The list of cuts includes actively managed and index-based products, with many of the funds representing billions of dollars. Stocks, bonds and commodities products are all included in the reductions. Some of the funds on the Vanguard list include: Fund fees for mutual funds and ETFs are assessed as an annual percentage of total assets under management for the share class. The fee cuts to VEGBX and some other actively managed bond funds is notable because active fixed income is emerging as a growth area for the exchange traded fund industry. The booming popularity of ETFs, which can be purchased more easily than many mutual funds, is often cited as a key factor in driving down management fees for stock funds in recent decades. Vanguard said its actively managed fixed income funds and ETFs have a weighted average expense ratio of 0.10% versus an industry average of 0.53%. Vanguard has long been a leader in lowering fees among asset managers, a tradition dating back to its founder Jack Bogle. Monday’s announcement is a sign that the trend could continue under Ramji, who took over as CEO in 2024 and previously worked at rival BlackRock. The fee cuts come less than a month after Vanguard agreed to pay more than $100 million to settle charges from the Securities and Exchange Commission related to disclosures around some of its retirement products. Source link #Vanguard #cuts #fees #funds #including #ETFs #billions #assets Pelican News View the full article at [Hidden Content]

The Aura Walk Trend Makes Marvel Rivals Lobby Chaotic but in an Extremely Non-violent Way The Aura Walk Trend Makes Marvel Rivals Lobby Chaotic but in an Extremely Non-violent Way It’s been nearly two months since the release of Marvel Rivals, and the title continues to pull big numbers as gamers venture into its first proper reason. Alongside two new characters and two more to drop, the season introduced new modes, features, and other incredible stuff. Marvel Rivals is making waves in the gaming industry. (Image via NetEase Games) Since Marvel Rivals is one of the most popular games in the market right now, fans are constantly sharing gameplay strategies, speculation, and hilarious moments on various social media channels. However, one player decided to take things to the next level and do the aura walk meme in the hero-shooter. Gamers recreate the aura walk meme in Marvel Rivals If you’re unaware of the whole “aura walk” thing, it’s one of the most popular memes out there where people take a walk with a boosted sense of power and add dramatic visuals or music. What’s so funny about this? Well, it displays dominance in a comedic way that still feels supernatural. We’ve seen tons of gaming communities recreate this meme, and it has now found its way into Marvel Rivals as well. One gamer on the hero shooter’s official subreddit shared a clip of them performing the aura walk in their match and asserting dominance on the enemy team. What’s really funny is that all players in the Redditor’s lobby ended up doing the aura walk and marched right up till the end of the map. It’s great to see that such memes can unite gamers in matches that are filled with chaos. Comment byu/NAVEGANTE_PRIME from discussion inmarvelrivals Comment byu/NAVEGANTE_PRIME from discussion inmarvelrivals Comment byu/NAVEGANTE_PRIME from discussion inmarvelrivals Comment byu/NAVEGANTE_PRIME from discussion inmarvelrivals Comment byu/NAVEGANTE_PRIME from discussion inmarvelrivals The only problem is that aura walk can only be performed by console players. Let’s hope NetEase can give us the option to “toggle walk” on the PC version so everyone can hop onto this trend. It’s time for announcer packs in Marvel Rivals Gambit in a still from Deadpool 3 | Marvel Studios We’ve already seen tons of popular games, such as Mortal Kombat, bringing announcer packs. Despite their popularity, NetEase still hasn’t experimented with the idea, and that’s quite shocking, considering there are thousands of Marvel characters that can be integrated with this feature. Over on Reddit, gamers are begging NetEase to bring announcer packs to Marvel Rivals. However, there’s one character in particular they want to hear the voice of, and that’s Channing Tatum’s Gambit from Deadpool & Wolverine. Tatum’s take on Gambit finally made it to the big screens after years of rumors. However, the most memorable aspect of his appearance was the performance of the Gambit’s thick Cajun accent. It’s a running gag and has now become a meme in itself. It’s unlikely that this Gambit announcer pack will ever make its way into Marvel Rivals, but the character, alongside some other X-Men, is surely coming to the game, according to the latest leaks. With that said, have you tried asserting dominance with the aura walk in Marvel Rivals? Let us know in the comments below. Source link #Aura #Walk #Trend #Marvel #Rivals #Lobby #Chaotic #Extremely #Nonviolent Pelican News View the full article at [Hidden Content]

UN monitors asteroid with a tiny chance of hitting Earth – BBC.com UN monitors asteroid with a tiny chance of hitting Earth – BBC.com UN monitors asteroid with a tiny chance of hitting Earth BBC.comESA actively monitoring near-Earth asteroid 2024 YR4 European Space AgencyAstrophysicist Reveals The Key Facts About The Asteroid That May Hit Earth ScienceAlertCould This Large Asteroid Hit Earth In 2032? The Weather Channel Source link #monitors #asteroid #tiny #chance #hitting #Earth #BBC.com Pelican News View the full article at [Hidden Content]

Global reaction to pub’s Nottingham Forest free beer ‘own goal’ Global reaction to pub’s Nottingham Forest free beer ‘own goal’ Greig Watson & Navtej Johal BBC News, Nottingham BBC Beccy Webster said many of the worldwide messages were “to see if we were still in business” A pub landlady has said there has been a global response to the story of her offering a free pint every time Nottingham Forest scored – only for them to win 7-0. Beccy Webster, who runs the Gedling Inn in Nottinghamshire, admitted Nottingham Forest’s victory over Brighton on Saturday led to her giving away nearly 300 pints at a cost of up to £1,500. She said she had messages from as far afield as Australia, the US, Brazil and Poland – as well as numerous media interviews – “mostly seeing if we were still in business”. She added: “It’s been overwhelming – but it’s been lovely to have something good come from what looks like a loss.” Pubgoers enjoy free pints during 7-0 win The venue in Main Street had only publicised the offer 45 minutes before the match got under way. Ms Webster expected the Reds to score “two or three” and had been upstairs feeding her baby when the goals started to go in. She said: “It was as I was coming down the stairs the third went in and I began to wonder if I had made a mistake.” But she decided to stick by the deal despite her partner suggesting they call it off. “I said we had to carry it through and stick to our word and we have to back Forest all the way,” Ms Webster added. Gedling Inn A suggestion to cancel the offer at half-time was rejected by the landlady She said she didn’t think about how much it was costing as “everyone was having such a good time”. “I haven’t added up the total because I’m still in shock,” Ms Webster joked. “But I would say over £1,000, maybe close to £1,500, but I’m hoping to get some help from the brewery. “It would be nice if [club owner] Evangelos Marinakis could cover the bill – but actually if he came to visit we would give him a free pint, he is doing such a great job.” With Nottingham Forest having such a good season and sitting third in the Premier League, Ms Webster said they had to make decision on how to mark upcoming games. She added: “We will definitely do offers and deals for future matches but I’m not sure it will be free pints for goals. “Maybe, maybe not, watch this space.” Forest’s 7-0 victory over Brighton came just a week after The Reds fell to a 5-0 defeat away at Bournemouth. Source link #Global #reaction #pubs #Nottingham #Forest #free #beer #goal Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

******** algorithm claimed to boost Nvidia GPU performance by up to 800X for advanced science applications ******** algorithm claimed to boost Nvidia GPU performance by up to 800X for advanced science applications Researchers from Shenzhen MSU-BIT University, a collaboration between Lomonosov Moscow State University and the Beijing Institute of Technology, have reportedly developed a new computational algorithm that can significantly enhance the efficiency of peridynamics (***), a non-local theory used to model fractures and material damage. The new method increases performance by up to 800 times, dramatically improving the speed of large-scale material simulations. Peridynamics is widely used to predict material failure in aerospace, civil engineering, and military applications. However, traditional *** simulations require significant computational resources, making large-scale studies slow and impractical. Associate Professor Yang Yang and her team tackled this problem by leveraging Nvidia’s CUDA technology to optimize algorithm design and memory management. Their ***-General framework achieved up to 800x speed gains on an Nvidia RTX 4070 compared to traditional serial programs and 100x faster performance than OpenMP-based parallel programs. In large-scale simulations with millions of particles, it completed 4,000 iterative steps in five minutes. For high-scale 2D uniaxial tensile problems, it processed 69.85 million iterations in under two minutes using single precision. The enhanced computational efficiency means researchers can now conduct simulations on consumer-grade GPUs instead of relying on costly, high-performance computing clusters. This has broad implications for industries that require detailed material analysis, including: Aerospace and Defense: Improved modeling of material stress and failure in aircraft structures. Engineering and Manufacturing: More efficient testing of materials for construction and industrial applications. Military Research: Faster development of impact-resistant materials for defense systems. The ability to achieve high-performance simulations on widely available GPUs also reduces reliance on restricted foreign technology. Given ongoing trade restrictions and sanctions, this breakthrough allows China and Russia to potentially advance research without depending on high-end computing hardware from Western countries. This development also marks a significant step in computational mechanics, enabling faster and more accessible simulations for material science, engineering, and defense applications. The study was notably published in the ******** Journal of Computational Mechanics on January 8, 2025, and the research team believes that this optimization could extend beyond peridynamics, improving GPU performance for other scientific computations. Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox. Source link #******** #algorithm #claimed #boost #Nvidia #GPU #performance #800X #advanced #science #applications Pelican News View the full article at [Hidden Content]

Too early to discuss four-way Ukraine talks: Russia Too early to discuss four-way Ukraine talks: Russia The Kremlin says it is too early to discuss a potential four-way peace talks format proposed by Ukrainian President Volodymyr Zelenskiy and has restated its concerns about his electoral mandate. Zelenskiy told the Associated Press news agency in an interview published on Saturday that he favoured four-way talks between the United States, Ukraine, Russia and the European Union and said it would be “very dangerous” for the US and Russia to hold talks about ending the war in his country that did not involve Ukraine. His comments followed remarks by US President Donald Trump suggesting the US and Russia had already been in touch about Ukraine. Trump did not provide details, and Russian Deputy Foreign Minister Sergei Ryabkov was cited by the Interfax news agency on January 27 as saying that direct contacts between Russia and Trump’s administration were not yet underway. Asked on Monday about Zelenskiy’s thoughts on the format of future talks, Kremlin spokesman Dmitry Peskov told reporters: “So far, no one has discussed in any serious way a possible combination of participants in the negotiations.” “So far, we are proceeding from the assumption that the Ukrainian president does not have the right to hold such talks,” he said. Russia has long said the fact that Zelenskiy was not re-elected last year when his five-year term expired – due to martial law being in force – means he would not have the legal authority to sign a peace deal. Ukraine rejects that stance as a disingenuous ploy designed to complicate negotiations. Peskov said it was also difficult to discuss the possible format of any talks when a 2022 decree signed by Zelenskiy remains in force banning talks with Russia for as long as President Vladimir Putin is in charge. Russia says the decree must be revoked. “Discussing the possible composition of participants (of peace talks) while the decree remains in force is probably getting ahead of ourselves,” Peskov said. When asked about the issue on Monday, Peskov said contacts were “apparently” planned but that there was nothing new to say on the matter for now. Two Russian sources with knowledge of the discussions have told Reuters that Saudi Arabia and the United Arab Emirates are seen by Russia as possible venues for a summit between Trump and Putin. Meanwhile, Ukrainian army chief Oleksandr Syrskyi condemned a spate of violent attacks on draft officers, rallying in defence of a call-up effort that has fuelled anger among some Ukrainians and struggled to generate sufficient frontline manpower. The incidents, including the fatal shooting of a draft officer and explosions at two draft offices in three days, pile pressure on an already-troubled campaign to draft civilians despite faltering enthusiasm for service. The setback comes as Ukraine is trying to project strength ahead of a potential negotiating process, with Trump pushing for a swift end to the war while Russian troops continue to capture more territory in the east. General Syrskyi, who has complained of manpower shortages at the front, denounced what he said were “shameful acts of violence,” demanding investigations and punishment for incidents that killed two people and wounded seven more. “The common goal of defending Ukraine is impossible without the entire nation’s support of the army and respect for military personnel,” he wrote on the Telegram messaging app. The police arrested two suspects after a draft officer was shot dead on Friday at a petrol station in the central region of Poltava. Prosecutors said one of the suspects had shot the officer, allowing a second man who had been mobilised and was in the officer’s charge to escape. Source link #early #discuss #fourway #Ukraine #talks #Russia Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

US consumer bureau won’t defend Biden-era rules in court after chief was fired US consumer bureau won’t defend Biden-era rules in court after chief was fired By Jonathan Stempel (Reuters) – The U.S. Consumer Financial Protection Bureau is refusing to defend Biden administration-era rules in court after its director was fired by President Donald Trump. In “emergency” notices filed on Monday with the 5th U.S. Circuit Court of Appeals in New Orleans, hours before appeals in two cases were scheduled to be heard, the agency’s lawyers said they have “been instructed not to make any appearances in litigation except to seek a pause in proceedings.” One case concerned a CFPB appeal from a Texas federal judge’s ruling that the agency in March 2022 unlawfully expanded its authority by deciding to examine banks and financial services companies for possible discrimination. In the other case, banking industry groups have been appealing a judge’s ruling that the CFPB could enforce a March 2023 rule requiring lenders to gather demographic data on small business borrowers. At a scheduled hearing of the discrimination case, a CFPB lawyer said a pause was needed “to allow the new leadership to evaluate litigation.” The court said both sides should confer to determine whether oral arguments are still needed. “It would be helpful if you could do it pretty quickly,” Circuit Judge Edith Jones said, “but I realize we don’t know whether that’s practical or not.” Former CFPB director Rohit Chopra announced his departure on Saturday, though his term was not scheduled to end until October 2026. He had drawn much opposition from Wall Street over his forceful approach to enforcing consumer protection laws. The Trump administration is expected to curtail the agency, and perhaps roll back some recent rules. U.S. Treasury Secretary Scott Bessent has been named acting CFPB director, the agency said on Monday. (Reporting by Jonathan Stempel in New York; Editing by Aurora Ellis) Source link #consumer #bureau #wont #defend #Bidenera #rules #court #chief #fired Pelican News View the full article at [Hidden Content]

If Canada, Mexico & China retaliate, these big U.S. exporters could be hurt If Canada, Mexico & China retaliate, these big U.S. exporters could be hurt Retaliatory tariffs from the U.S.’s major trading partners may be set to hurt some stocks more than others. Stocks briefly reeled Monday from the threat of President Donald Trump’s newly imposed tariffs. On Saturday, Trump levied a 25% tariff on goods imported from Canada and Mexico, 10% on ********* oil and 10% on ******** imports. The administration later suspended the tariffs on ******** imports for one month on Monday after President Claudia Sheinbaum agreed to send 10,000 troops to the U.S. border. exports Global stocks plummeted upon the news, with the S & P 500 losing as much as 1.9% at one point before recovering to less than half that by midday. Japan’s Nikkei 225 index shed 2.7% overnight, while Europe’s Stoxx 600 index was down more than 1%. Both Canada and Mexico promised they would respond with retaliatory tariffs of their own, while China pledged to enact “necessary countermeasures” and file a lawsuit with the World Trade Organization. To try and model the possible effects of a trade war, Goldman Sachs identified U.S. that could be most vulnerable to retaliatory tariffs from the U.S.’s major trading partners. The table below shows 10 companies in the Russell 1000 Index that each derive 10% or more of their revenue in Canada, based on their latest 10-K filings. American petroleum company Ovintiv , briefly down 3% on Monday before recovering, is disproportionately exposed to the ********* market. But UBS analyst Josh Silverstein believes that any tariff risks might ultimately be mitigated. “Exposed ********* and U.S. energy stocks have already reflected some concern around tariffs. However, we expect some volatility as the 10% [oil tariff on Canada] is lower than a potential 25% tariff,” he wrote in a Sunday note. “While weaker pricing could negatively impact cash flow, they should all benefit from the weaker CAD currency as it lowers costs,” he said, referring to the ********* dollar. Similarly, the table below shows Russell 1000 companies with at least 10% revenue exposure to Mexico. Automotive supplier Borgwarner was one exporter that could be particularly hard hit by any ******** retaliatory tariffs, if they’re eventually imposed. Borgwarner dropped as much as 6.1% Monday before recovering to less than half that, marked down alongside other automakers and suppliers. The industry largely relies on a chain of manufacturing operations across North America and could potentially be forced to disrupt current supply chains in the event of disruptive tariffs. Similarly, auto parts retailer Autozone dropped 1.1% Monday before reversing course to gain 1.8%. “Auto parts retailers have an estimated ~10% of sales exposure to Mexico, primarily in remanufactured parts,” wrote Wedbush analyst Seth Basham. He added that Autozone could be a “relative winner” from these headlines, “with extra kicker from any on-shoring benefiting its industrial segment.” Goldman also modeled S & P 500 companies with more than 25% of explicit revenue exposure to Greater China. Approximately 39% of Nvidia ‘s revenue could be affected by higher tariffs on China. Shares of the dominant maker of AI semiconductors were last trading down 3.3%. However, in a Monday note Bernstein analyst Stacy Rasgon said that the Jensen Huang-led stock could be safe from a tariff war. “Overall we continue to see little direct impact to our space or coverage from potential tariff increases on Mexico, Canada, and China; rather indirect effects, as well as escalation remain the larger potential worry as overall semiconductor imports (from all countries) might be large enough to be affected by more broad-based actions should the new administration feel so inclined (as it seems they might be),” he wrote. Source link #Canada #Mexico #China #retaliate #big #U.S #exporters #hurt Pelican News View the full article at [Hidden Content]