Trump is the most pro-stock market president in history, Wharton’s Jeremy Siegel
Trump is the most pro-stock market president in history, Wharton’s Jeremy Siegel
The stock market could enjoy a ******* boost from President-elect Donald Trump than any previous administration thanks to his pro-business policies, according to Jeremy Siegel, finance professor at the Wharton School of the University of Pennsylvania.
“President-elect Trump is the most pro-stock market president we have had in our history,” Siegel said on CNBC’s “Squawk Box” Monday. “He measured his success in his first term by how well the stock market did. You know, it seems to me very unlikely he’s going to implement policies that are going to be bad for the stock market.”
The market already reached new heights in reaction to Trump’s election win as investors bet that his promises of tax cuts and deregulation will propel growth and benefit risk assets.
The S&P 500 soared 4.66% last week for its best week since November 2023, trading above 6,000 for the first time ever. The blue-chip Dow Jones Industrial Average also climbed above a new milestone of 44,000 post election.
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S&P 500
Investments seen as the biggest beneficiaries under a Trump presidency exploded during the week.
Tesla, whose CEO Elon Musk is a prominent backer of Trump, saw shares skyrocket 29% to return to a $1 trillion market cap. Bank stocks such as JPMorgan Chase and Wells Fargo also had big rallies. Bitcoin continued to hit record highs as traders see ******* regulations under Trump.
Siegel believes that Trump’s corporate tax cuts from his first term in 2017 are mostly likely to be extended.
“I think the extension of his 2017 tax cuts, looks pretty much like a slam dunk, but the expansion to all his other tax cuts is certainly going to be much more difficult,” Siegel said.
Still, the president-elect’s trade policy, including his vow to slap steep tariffs on trading partners, could hurt growth and inflame inflationary pressures at a time when the Federal Reserve has spent more than two years raising interest rates to bring down price increases.
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Trump begins to fill Cabinet positions as he prepares for a second term
Trump begins to fill Cabinet positions as he prepares for a second term
Trump begins to fill Cabinet positions as he prepares for a second term – CBS News
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President-elect Trump is beginning to fill his top spots in his administration. On Truth Social, Trump announced former ICE director Tom Homan will be his “border czar.” He has also nominated New York Rep. Elise Stefanik to serve as ambassador to the ******* Nations, a source confirmed to CBS News. Former U.N. Ambassador Nikki Haley and former Secretary of State Mike Pompeo will not be serving in the administration, according to Trump.
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Champions Trophy 2025: India will not travel to Pakistan, says PCB
Champions Trophy 2025: India will not travel to Pakistan, says PCB
One possible solution would be for a ‘hybrid’ staging of the tournament, with India playing its matches outside of Pakistan, possibly in the ******* ***** Emirates. A similar model was employed when Pakistan staged last year’s Asia Cup.
However, this throws up the possibility of uncertainty over where knockout matches would be played if India progress to the semi-finals.
And, on Friday, chairman Mohsin Naqvi said the PCB is not prepared to accept a hybrid solution.
Pakistan travelled to India to play in the 2016 T20 World Cup and 2023 50-over World Cup.
Last month, any suggestion that the tournament could take place without India was dismissed by England and Wales Cricket Board chief executive Richard Gould.
“If you play the Champions Trophy without India or Pakistan, the broadcast rights aren’t there, and we need to protect them,” he said.
“There are a variety of different options available if those circumstances come along. This is a big moment for Pakistan, and hopefully we can have the fullest possible competition in Pakistan. If that’s not possible, we know there are options available.”
Pakistan did not host any international cricket between 2009 and 2015 after gunmen attacked the Sri Lanka team 15 years ago.
Former England assistant coach Paul Farbrace was part of the Sri Lanka staff and told BBC Sport Pakistan “deserves to host international cricket”.
“I completely understand that historical events have muddied the water between the two countries, but the BCCI has to realise this is a ******* picture than whether or not they want to go to Pakistan,” he added.
“In terms of sport, this is a fantastic opportunity for India to show it wants cricket to flourish, rather than saying ‘no, we don’t fancy going to Pakistan’. Every one of the big nations need to travel to all of the other countries in order to grow the game and in that respect, India has too much clout.”
Additional reporting by Henry Moeran
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The full version of “Astral Tracks” is coming to PC via Steam on November 21st, 2024
The full version of “Astral Tracks” is coming to PC via Steam on November 21st, 2024
“The Heidleberg-based (Germany) indie games developer LAB132 are today very glad and thrilled to announce that their competitive sci-fi speedrunning 3D platformer “ASTRAL TRACKS“, is coming to PC via Steam on November 16th, 2023, with a release date for console platforms to be announced at a later date.” – Jonas Ek, TGG.
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Mitochondria Divide Roles for Energy and Molecular Synthesis Under Low-Nutrient Conditions, Reveals New Study
Mitochondria Divide Roles for Energy and Molecular Synthesis Under Low-Nutrient Conditions, Reveals New Study
Researchers have uncovered a “division of labour” among mitochondria, with subpopulations within cells specialising in different roles when nutrients are scarce. Led by Dr. Craig Thompson, a cell biologist from Memorial Sloan Kettering ******* Center, the team observed that certain mitochondria in nutrient-deprived cells focus on producing energy, while others shift towards synthesising molecules necessary for cellular repair and protein production. This newfound specialisation could have an important role to play in how cells respond to injury and adapt to low-nutrient conditions.
Mitochondria: Beyond Energy Production
The study was published in Nature. Mitochondria are traditionally known for producing adenosine triphosphate (ATP), the molecule that powers most cellular processes. However, they are also involved in creating amino acids, essential for building proteins and other vital molecules. In resource-limited environments, such as when blood supply is reduced due to an injury, mitochondria may face constraints in simultaneously supporting energy production and molecular synthesis. Dr. Thompson’s research team sought to understand how cells might prioritise these functions under such conditions.
Mitochondrial Adaptation in Mouse Cells
The researchers cultured mouse cells under conditions forcing them to depend solely on mitochondrial ATP production, limiting alternative energy sources. Unexpectedly, the mitochondria continued to produce amino acids, suggesting a specialised adaptation mechanism. A key enzyme called P5CS was identified as instrumental in this process. Found in only certain mitochondria, P5CS enabled amino acid synthesis by clustering in specific organelles. Genetic modification that prevented this clustering blocked amino acid production, revealing P5CS’s essential role in the division of labour.
Implications for ******* Research and Healing
The study’s findings may offer insights into how nutrient-deprived ******* cells sustain growth, as some human pancreatic ******* cells also displayed specialised mitochondria with P5CS clusters. Dr. Samantha Lewis, a mitochondrial biologist at the University of California, Berkeley, commented on the study, noting that it offers a model for examining mitochondrial diversity. Dr Martin Picard, a mitochondrial psychobiologist at Columbia University, highlighted the need for further research to assess the importance of this specialisation in living organisms, as this study was conducted in cultured cells.
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TSMC to Suspend Production of Advanced AI Chips for China From November 11: Report
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Bitcoin’s Breakout Rally: Is It Poised to Outshine Gold Under Trump’s Presidency?
Bitcoin’s Breakout Rally: Is It Poised to Outshine Gold Under Trump’s Presidency?
Review
In our last analysis on September 22nd, we suggested that and the entire crypto sector might need a bit more time. Indeed, Bitcoin briefly slipped below the psychological mark of $60,000 on October 10th, only to ****** up significantly the next day. This final bear trap marked the definitive trend reversal, which had already begun with the ****** low of $49,130 on August 5th.
At the latest with Donald Trump’s election victory, it’s clear that the breakout rally for Bitcoin has begun. A new all-time high of $79,780 has already been recorded. The strong resistance zone between $72,000 and $76,000 has thus been breached. Above $80,000, the real fireworks should begin, rapidly propelling Bitcoin prices towards the psychological magnet of $100,000.
Overall, the seasonal pattern has worked wonderfully again this year, providing patient investors with good entry points between $50,000 and $54,000 during the summer months as expected.
Technical Analysis for Bitcoin in US-Dollar
Weekly Chart: Breakout from the three-year Cup-and-Handle pattern
Bitcoin in USD, weekly chart as of November 10th, 2024. Source: Tradingview
Since the ****** low on August 5th at $49,130, Bitcoin has risen by an impressive 60.92% over the last fourteen weeks. The all-time high of $73,794 from March 14th was surpassed last week without much resistance. Thus, Bitcoin has overcome the bears’ major resistance zone.
However, the rise has cost strength, resulting in a slightly overbought weekly stochastic. It would therefore be important now for the bulls to maintain buying pressure and leave the slanted resistance zone behind. Within the superordinate upward trend channel, there is still room up to about $82,000 in the every short-term.
In summary, the weekly chart is bullish. The upper weekly Bollinger Band ($74,741) is currently being bent upwards. The price target from the handle is around $100,000 and could possibly be reached even by the end of the year. Beyond that, the second price target from the cup of the cup-and-handle formation awaits at about $130,000.
Daily Chart: Small Bull Trap Before the **********??
Bitcoin in USD, daily chart as of November 10th, 2024. Source: Tradingview
On the daily chart, Bitcoin has also surpassed all known resistances, and the breakout has gained further momentum in recent days. However, it might need a short breather similar to December 2020, when the breakout was already in full swing, but all weak hands were shaken out with a small bull trap of about -11.8% just before the price **********. Analogously, a pullback/dip to around $72,000 to a maximum of $68,000 could still be conceivable at present. We don’t see Bitcoin falling much lower than that. Rather, such a potential shake-out could represent the very last buying opportunity before the run to $100,000+x.
Overall, the daily chart is bullish, but also overbought. Should the bulls run out of steam in the short term, a small pullback (dip) towards $72,000 to 68,000 would not be surprising. However, we don’t see Bitcoin falling below $68,000 or below the rapidly rising 50-day line ($66,837). Every pullback is a buying opportunity.
Bitcoin Sentiment – Euphoric Mood
Crypto ***** & Greed Index, as of November 9th, 2024. Source: Bitcoin Magazine Pro.
The “Crypto ***** & Greed Index” currently stands at 75 out of 100 points, indicating a very optimistic or even euphoric sentiment among investors. In fact, such a high value in the “greed” area suggests a potential short-term overheating of the market. Therefore, a quick cold shower might be needed before the rally can continue.
CMC Crypto ***** & Greed Index as of November 9th, 2024. Source: Coinmarketcap.
The “CMC Crypto ***** & Greed Index” from CoinMarketCap comes to a similar conclusion.
Overall, the sentiment is significantly overheated or euphoric after the strong rally of the last few days or the last three months. For the further rally towards $100,000 and higher to stand on a solid foundation, a small bull trap or a pullback towards USD 68,000 to 72,000 would be exactly the right recipe to create enough skepticism among market participants again.
Bitcoin Seasonality – Positive Seasonality Until Year-End
Bitcoin Seasonality as of November 9th, 2024. Source: Seasonax
Bitcoin has also followed the seasonal patterns exemplarily this year. Since the new all-time high in March, prices corrected and reached an important low point just below $50,000 in early August as expected. After a tough bottoming phase in August and September, the trend finally turned upward in mid-October. Until the end of the year, the seasonal pattern supports price development and suggests further increases.
In summary, the seasonal component is bullish for Bitcoin until the end of the year.
Sound Money: Bitcoin vs. Gold, Bitcoin – The Breakout Rally Has Begun
Bitcoin/Gold-ratio, daily chart as of November 10th, 2024. Source: Tradingview
At prices of around $79,400 for one Bitcoin and about $2,684 for one troy ounce of , you currently have to pay about 28.6 ounces of gold for one Bitcoin. Conversely, one troy ounce of gold currently costs about 0.034 Bitcoin.
With a double bottom on August 5th and September 6th in the area around 21.5, the Bitcoin/Gold-ratio has found the end of its correction after almost six months. Consequently, Bitcoin has clearly outperformed the strong gold price in the last two months. However, it’s still a good way off from the year’s highs in the area around 34. As the gold price has probably entered a multi-week breather, a rise in the ratio to at least 32 would be very realistic.
In sum, the Bitcoin/Gold-ratio provides a buy signal for Bitcoin against gold. Nevertheless, it is still advisable to own both gold and Bitcoin, as opposites complement each other. In our dualistic world, characterized by yin and yang, body and mind, up and down, warm and cold, etc., we are bound to the natural attraction of opposites. In this sense, gold and Bitcoin can be viewed as such a power couple. With the physical scarcity of gold and the digital scarcity of Bitcoin, you have a complementary unit of hard assets that will serve as true stores of value in the 21st century. It is advisable to have both in your portfolio!
Macro (BCBA:) Update – Trump, the “Bitcoin President”
While the melt-up in US stock markets has further accelerated due to Donald Trump’s election, in Germany, the ******* Chancellor without a majority is struggling to set a date for new elections. Although the misery of the “traffic light coalition” is finally over, a new start for Germany is (still) not in sight. At the same time, the EU, the ******* federal government, and especially the ******* mainstream media have once again completely misjudged the situation and thus the election outcome in the USA. In the run-up, they supported only the US Democratic camp far too one-sidedly. Particularly in Germany, Kamala Harris was made out to be much stronger than she actually was.
Accordingly, ********* stock markets are finding it difficult to follow the strong lead from the USA. Instead, mass layoffs and corporate bankruptcies in the automotive industry and its suppliers dominate ******* headlines. Other large corporations such as BASF, SAP, Thyssenkrupp, Covestro, Evonik, and Miele have also announced large-scale job cuts. This points to an industry-wide economic crisis! The ******* labor market faces enormous challenges, which will sooner or later lead to further escapades at the printing press.
Fittingly, the cash-strapped Free State of Saxony threw around 50,000 confiscated Bitcoins onto the market in the summer at an average selling price of EUR 52,944 per Bitcoin (currently EUR 70,860) for a total revenue of EUR 2.64 billion. Just a few weeks later, Donald Trump promised a national US Bitcoin reserve in the event of his election victory.
Trump, the “Bitcoin President”
In contrast to Harris and Biden, Donald Trump positioned himself as the “Bitcoin President” and crypto-friendly candidate during the 2024 campaign, leading to a positive mood in the crypto community and an increase in the Bitcoin price.
Here are the main reasons why Trump is perceived as the “Bitcoin President”:
Crypto-friendly rhetoric: Trump announced that he wanted to “make America the world capital for crypto and Bitcoin” and promised to be “the pro-innovation and pro-Bitcoin president that America needs”.
Regulatory easing: Trump promised deregulation and more business-friendly guidelines for the crypto industry.
Personnel changes: He promised to dismiss SEC chief Gary Gensler, who is considered crypto-critical, and replace him with a more crypto-friendly person.
National Bitcoin Reserve: Trump announced the creation of a strategic national Bitcoin reserve, similar to existing reserves for gold and oil.
Promotion of Bitcoin mining: Trump plans to expand energy production to promote Bitcoin mining in the USA.
Crypto advisory board: Trump promised to install a Bitcoin and crypto advisory board in the White House to develop clear regulatory guidelines.
Additionally, during his campaign, Trump promised to pardon Ross Ulbricht, the founder of the online platform “Silk Road”. Ulbricht’s case has attracted a lot of attention in libertarian and crypto-friendly circles in recent years. Trump had courted these groups during the campaign.
All these factors have led to Trump being perceived as the “Bitcoin President” and the crypto community having high expectations for his presidency. Bitcoin rose significantly to a new all-time high of over $77,000 after Trump’s election victory, which was interpreted as a reaction to his crypto-friendly stance. However, it ******** to be seen how many of his promises will actually be implemented and what long-term effects they will have on the crypto market. Trump’s economic policy, which aims at deregulation and tax cuts, could in any case stimulate US economic growth and thus reduce the attractiveness of crisis currencies such as gold.
US Debt Crisis Looms: Trump’s Fiscal Policy May Accelerate America’s Path to Bankruptcy
However, the escalating debt problems of the Western world, and especially America, remain a central issue that Mr. Trump will not be able to solve either. An expansive fiscal policy, as expected under Trump, is likely to drive US national debt and inflation even higher. In the first three weeks of October alone, US national debt rose by another USD 473 billion. Converted, every ********* is now USD 103,700 in debt. This is unsustainable. America is on the fast track to bankruptcy.
Both gold and Bitcoin should benefit from this, as the combination of high national debt and potential inflation creates an environment in which alternative assets are increasingly gaining importance as a store of value.
Bitcoin Poised to Outshine Gold as ETFs Fuel Institutional Investment Surge
Net assets iShares Bitcoin ETF vs. iShares Gold ETF (NYSE:), as of November 8th, 2024. Source: Bitcoin Archive
In the short- to midterm, however, we suspect a regime change. After the strongly rising gold price has overshadowed all other asset classes in recent months, Bitcoin is likely to take the helm again. Thanks to Bitcoin ETFs, large capital from institutional investors can flow into Bitcoin at any time. This distinguishes the current Bitcoin cycle from previous ones. After just ten months, Blackrock’s iShares Bitcoin Trust (NASDAQ:), with $33.2 trillion in assets under management, is already larger than Blackrock’s iShares Gold Trust (NYSE:). This trend is likely to intensify.
Conclusion: Bitcoin – The Breakout Rally Has Begun
After the US election and the meteoric rise to a new all-time high of $77,780, Bitcoin seems to have run a bit hot in the very short term. The technical indicators at least urge a bit of caution, while sentiment has reached the realm of extreme greed. A tactical pullback to around $68,000 to $72,000 could not only represent a healthy market correction but also offer a final chance for latecomers before Bitcoin potentially advances into previously unexplored price territory.
In the big picture, the breakout from the three-year cup-and-handle pattern signals fundamental strength that extends far beyond short-term price fluctuations. Our next price targets of $100,000 and $130,000 could be reached by spring 2025.
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Young Aussie workers miss out on $10k at retirement because of old law
Young Aussie workers miss out on $10k at retirement because of old law
An old law is costing *********** workers about $10,000 in superannuation by the time they retire, according to a peak body.
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Nintendo will show off ‘Donkey Kong Country’ theme park expansion at live event today
Nintendo will show off ‘Donkey Kong Country’ theme park expansion at live event today
Nintendo is set to show off the Donkey Kong Country expansion of its Super Nintendo World theme park today (Monday, November 11) at 5PM ET, the company revealed in a post on X. That means the new Universal Studios Japan area might finally open soon, after being delayed from the previously announced launch window of Spring 2024.
The new park attraction featuring Mario’s barrel-throwing nemesis was first revealed in 2021. The centerpiece is a ride called Mine Cart Madness, named after the best level in the 1994 SNES game Donkey Kong Country. After being blasted out of a barrel cannon, you’ll take a mine cart ride through the jungle that includes a “leap across a collapsed track” as Nintendo showed in a render earlier this year.
The direct livestream appears to be focused on Donkey Kong world alone, and Nintendo specifically pointed out that “no game information will be featured” — so don’t expect any news on the next-gen Switch 2 console either.
Donkey Kong Country will expand the park size by up to 70 percent, Nintendo said when it was announced. Current attractions at the Japan park are the Mario Kart: Kuppa’s Challenge rollercoaster and Yoshi Adventure. Nintendo recently announced that it would open a Super Nintendo World attraction at Universal Studios Orlando on May 22nd, 2025 with the same attractions as the park in Osaka.
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Instagram just fixed its worst habit, and I couldn’t be happier
Instagram just fixed its worst habit, and I couldn’t be happier
Instagram will no longer refresh when the app is opened
The change was confirmed in an Instagram story by Instagram head Adam Mosseri
This solves a frustrating long-term issue with the app
Instagram has finally fixed its most annoying issue after years of frustration for its billions-strong user base.
Instagram head Adam Mosseri confirmed (via Instagram Stories, naturally), that the app will no longer refresh the feed as soon as you open it up, and instead show you a feed that doesn’t disappear after new content loads.
The previous system displayed cached or previously loaded content in the feed while new images and videos loaded in, and then refreshed the feed to show the new stuff. This was apparently good for engagement but highly frustrating for users, who’d start watching a video or reading a post, only to have it disappear into the digital ether, never to be seen again.
As it turns out, the previous behavior was entirely intentional, despite how frustrating it could be to experience.
Mosseri confirmed the intentional nature of the so-called “rug pull”, as well as the coming change to the app’s behavior, in an ask-me-anything (AMA) conducted via Instagram Stories.
This will be a welcome change for many, especially as Instagram continues to increase its focus on longer, denser forms of user-generated content.
In August, we reported that Instagram had started to allow slideshows of up to 20 images, doubling the previous cap of 10. And earlier this year, Instagram increased the maximum length of a Reel – the app’s answer to TikTok-style vertical short-form videos – to 3 minutes.
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Along with the fixed refresh behavior, these changes suggest Instagram could be placing renewed emphasis on meaningful engagement, rather than gauging success by screen-time alone.
However, this is a fairly broad speculation, and it could be the case that screen time, and therefore advertising revenue, simply increases with this way of doing things.
For the latest news, be sure to check out our dedicated Instagram coverage, as well as our phones coverage for the latest on other essential apps.
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3 Factors Why Bitcoin Rally Can Continue After Week Kicks Off With New ATH
3 Factors Why Bitcoin Rally Can Continue After Week Kicks Off With New ATH
(BTC) surged to unprecedented heights on Monday (NASDAQ:), reaching $82,228.41 at the time of writing (5:20 AM EST) and marking a 3.6% increase as bullish momentum continues to drive the world’s largest cryptocurrency to new records.
Trading across nearly 12,000 active markets with a 24-hour volume exceeding $78 billion, Bitcoin’s market capitalization has swelled to $1.6 trillion, rivaling some of the biggest companies in the world and signaling robust market participation and growing institutional interest. In this article, we take a quick look at three factors that have propelled the rally and why it is likely to continue.
Trump Victory Sparks Crypto Optimism
Donald Trump’s recent presidential election victory has emerged as a significant catalyst for Bitcoin’s rally, with his campaign promises to transform America into the “crypto capital of the planet” energizing investor sentiment.
Trump’s pledges include establishing a national Bitcoin reserve and appointing crypto-friendly regulators, sparking renewed confidence in the digital asset’s regulatory future. Market participants anticipate a more favorable regulatory environment under Trump’s administration, contributing to the current bullish momentum.
Rate Cuts Drive Alternative Asset Demand
The November decision to cut by 25 basis points has provided additional fuel for Bitcoin’s ascent. Similar rate cuts across major economic regions, including the EU and China, have prompted investors to seek alternative assets as inflation hedges.
This coordinated monetary easing has increased cash flow into cryptocurrency markets, with Bitcoin emerging as a primary beneficiary of the shifting investment landscape. However, the rising tide has also helped push several other asset classes.
Institutional Investment Powers Market Momentum
Finally, the rise of cryptocurrency has been further propelled by growing institutional participation, particularly following the SEC’s approval of Bitcoin spot ETFs earlier this year. These investment vehicles have provided a regulated pathway for institutional investors to gain Bitcoin exposure, leading to increased demand and market participation.
The futures market reflects this optimism, with $2.8 billion in contracts ******** on Bitcoin reaching $90,000.
***
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
This article was originally published on The Tokenist. Check out The Tokenist’s free newsletter, Five Minute Finance, for weekly analysis of the biggest trends in finance and technology.
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Houthis claim ‘Palestine 2’ missile hit ******** military base
Houthis claim ‘Palestine 2’ missile hit ******** military base
Houthi rebels claim to have hit an ******** military base with a ballistic missile in the wake of US strikes against its strongholds.
The Iran-backed militia announced a “hypersonic ballistic missile”, known as the Palestine 2, was used in the strike on the Nahal Sorek military base in central *******, between Jerusalem and Tel Aviv.
“The hit was accurate, and led to a ***** ignition in the vicinity of the targeted site,” they added.
The ******* Defence Forces (IDF) said it had intercepted a ballistic missile fired from Yemen before it entered ******** airspace.
Firefighters were battling blazes in west Jerusalem that the military said was sparked by debris from the intercepted missile.
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Credit: X/ @Bashareport
It marked the second missile ******* claimed by the Houthis in recent days after the group claimed to have targeted Nevatim air base in southern ******* on Nov 8 with a ballistic missile. ******* said the projectile was successfully intercepted.
It follows US air strikes over the weekend on Houthi-controlled areas of Yemen, including the capital, Sana’a.
Houthi media claimed the *** was also involved in the attacks, but there has been no official confirmation.
The Pentagon told the AFP news agency that advanced weapons storage facilities had been targeted in the raids.
The ****** strikes, which started in January, are part of an ongoing effort to quash the group which since November has launched a blockade on global shipping in the Red Sea and Gulf of Aden.
The Houthis say the attacks are in solidarity with ****** in Gaza and Hezbollah in Lebanon, both Iranian ******* proxies. Hezbollah launched attacks on ******* on Oct 8, in solidarity with ******, sparking a wider conflict around *******’s borders.
Since November, dozens of international seamen have been taken ********, ships sunk and taken captive, and four men ******* as the Houthis try to force a ceasefire in Gaza and the war sparked by ******’s Oct 7 massacre.
The Houthis have launched multiple direct attacks against *******, including one in July which narrowly missed the US embassy on the Tel Aviv beachfront, hitting a nearby residential building, ******** one.
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FromSoftware Parent Company Confirms 20 Upcoming Console Games
FromSoftware Parent Company Confirms 20 Upcoming Console Games
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November 11, 2024
FromSoftware’s parent company, Kadokawa Corporation, recently confirmed that they have 26 games actively in development.
According to a report by GameWatch (via Automaton), Kadokawa Corporation confirmed these games during their latest earnings report. Out of the 26 titles, 20 are being developed for consoles, and the other six are being created for mobile. FromSoftware, Spike Chunsoft, Gotcha Gotcha Games, Acquire, VIC GAME STUDIOS, and more will develop these games. Acquire from the Tenchu series was acquired by Kadokawa in December 2023.
FromSoftware has several anticipated games on the horizon. Popular franchises like Armored Core and Dark Souls already have multiple instalments, so fans can expect new entries in these series. Additionally, FromSoftware may develop new sequels for titles like Sekiro: Shadows **** Twice and Elden Ring. Moreover, there is a possibility of receiving remasters or remakes of some of their classic games.
In other news, FromSoftware recently increased their base salaries by 11.8% and offered more to new graduates. Also, I learned how Elden Ring’s Shadow of the Erdtree DLC saved the Kadokawa corporation from cyberattack losses. What are your thoughts on FromSoftware, the parent company confirming 20 console games? Let us know in the comments or our new community forum!
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Fibertime broadens fibre access across South *******’s underserved communities
Fibertime broadens fibre access across South *******’s underserved communities
With currently less than 85% of South Africans having access to high-speed broadband, leaving many reliant on costly mobile plans that are up to 70 times more expensive per gigabit than fibre, local unlimited pay-as-you-go broadband internet provider Fibertime is to deploy a fibre service to rapidly expand broadband access to underserved regions of South *******.
Part of the Isizwe group holding company, the Stellenbosch-based firm currently has an active network presence in the Western and Eastern Cape, having launched a proof-of-concept fibre network in the Kayamandi township in November 2022, initially connecting 880 homes.
The service, called the Kayamandi Fibre Project, was regarded as a radically new way of deploying fibre to the home, offering free installation and router, no debit order, and vouchers available in increments of R5 for 24 hours of 100mbps uncapped internet. As it built out, the company said it has now landed on the Kayamandi Connected service, where almost all homes and shacks are connected to superfast, uncapped, affordable pay-as-you-go fibre.
In this latest iteration of the company’s services, Fibertime will connect its next 1.5 million customers initially covering Cape Town, Johannesburg, Gqeberha, Mangaung and Stellenbosch, with plans to rapidly expand into additional countries and communities.
Through the new fibre service, Fibertime said it can unlock a new wave of affordable, reliable, pay-as-you-go broadband, empowering local communities with increased access to education, employment and business opportunities. The deployment will look to create a semi-mobile network in underserved areas, allowing users to access high-speed broadband services from anywhere in the community, not just their homes or businesses.
Nokia’s technologies are seen as key to enabling Fibertime’s flagship product to be made available at R5 a day for uncapped, unthrottled internet. As part of the agreement with Nokia, the operator will be using Lightspan FX optical line terminals (OLTs) and Wi-Fi 6-enabled optical network terminals (ONTs). Fibertime will deploy 500,000 Wi-Fi 6-enabled ONTs over the next 36 months, prioritising homes in underserved areas. Fibertime will also use Nokia’s ONT Easystart to automate and simplify the ONT activation process, helping to streamline deployments.
Fibertime is also working on an advanced network upgrade powered by the Altiplano platform to further drive automation and scale. Nokia and Fibertime are also working on new R&D projects to develop technologies that enhance connectivity and enable operations in *******’s most remote areas.
Fibertime founder Alan Knott-Craig said: “With Nokia’s support, we’re confident in our ability to reach 1.5 million homes within the next five years. We’re unlocking a massive, untapped market of 13 million homes in South ******* that are ready for affordable, quality internet.
“That market will need approximately R60 billion of investment over the coming decade and will generate reliable returns for investors,” he said. “The market opportunity is akin to that presented to mobile operators when they expanded into prepaid markets. Together with Nokia, we can bridge the digital divide, accelerate growth, and create lasting social and economic impact across South *******.”
“Nokia’s fibre solution is uniquely positioned to help Fibertime reach millions of underserved customers needing high-speed broadband for essential services like online education and telehealth,” added Sandy Motley, president of fixed networks at Nokia.
“Our scalable OLT portfolio provides flexible coverage for both densely populated and rural areas. Paired with our Wi-Fi 6-enabled ONTs, we enable fast, automated onboarding. Together, these solutions allow Fibertime to speed up deployments and provide the capacity to bring thousands of customers online at once.”
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Silicon Valley’s General Catalyst makes first investment into Saudi Arabia
Silicon Valley’s General Catalyst makes first investment into Saudi Arabia
Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million.
General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap, Stripe and AirBnb. Lean Technologies’ fundraising round also saw participation from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, among others, bringing the Riyadh-based firm’s total funding to over $100 million to date, according to a Sunday statement from the company.
For three of those investors — General Catalyst, Stanley Druckenmiller and Bain Capital — this investment is their first in the kingdom.
What this signifies, Lean Technologies CEO and co-founder Hisham Al-Falih told CNBC, is that “this is a huge vote of confidence for their view of the growth trajectory that Saudi is on and the potential that it has over the next decade.”
The kingdom is pushing ahead with Vision 2030, its initiative to diversify its economy away from oil and create new jobs and industries for the overwhelmingly young Saudi workforce. Now more than ever, the kingdom wants foreign capital and direct investment coming into Saudi Arabia rather than flowing out of it, allowing for local employment, knowledge transfer and training, and the development of a variety of sectors.
Fintech plays a major role in this evolution, Al-Falih stressed.
“We are just getting started. I feel like there’s so much more investment that needs to go into deepening our tech stack, to expanding our payment solutions, to expanding our data services, to deepening our partnerships with banks in the region and with the support and enablement of the central banks in the region as well,” Al-Falih said. “If you look at the region’s growth over the last three to five years, it’s been phenomenal, but there is still so much more room for growth.”
Riyadh, Saudi Arabia.
Xavierarnau | E+ | Getty Images
Revenue from the fintech industry in the Middle East and North ******* amounted to $1.5 billion in 2022, and could grow to be between $3.5 billion and $4.5 billion by 2025, according to a report by McKinsey & Company. Fintech revenues in the region are less than 1% of banking revenues, Al-Falih said citing the report, compared to 4 to 5% in more mature markets like the U.S. and U.K.
“We are almost an order of magnitude away from where we could be in terms of the fintech revenue and its participation to the economy,” the Lean Technologies CEO said. “And that gives us the wind behind our sales and the motivation to keep building those tools and the picks and shovels, if you will, to enable those bold innovators to achieve their dreams.”
Lean Technologies specializes in providing the financial infrastructure that allows secure data-sharing between bank accounts and applications. Regulated by Abu Dhabi Global Markets in the ******* ***** Emirates, Lean works to facilitate A2A (account-to-account) payments, meaning funds transferred directly between two bank accounts rather than via intermediaries like payment processors or credit card networks.
The company works with major local clients like Emirati state telecoms firm e& and ride-hailing super app company Careem, with over $2 billion in total processed volumes, according to its press release issued Sunday.
In Saudi Arabia, Lean’s “launch of its data solutions under the Saudi Central Bank’s regulatory sandbox has impacted clients across various industries, including insurance, lending, and marketplaces, verifying nearly 1 million bank accounts,” the release said.
As of September of this year, Saudi Arabia’s fintech startups have raised over $1.84 billion in venture capital investments since 2018, according to Monsha’a, the kingdom’s General Authority for Small and Medium Enterprises. KPMG in September reported that in 2023 alone, Saudi fintechs attracted $791 million — a 231% leap from the previous year.
The number of active fintech startups in the country since the launch of its “Fintech Saudi” initiative in 2018 has reached 216 and they employ a more than 6,500 people, Monsha’a said. The Kingdom aims to establish 525 new companies in the fintech sector by 2030.
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***** the Spotlight review [SideQuesting]
***** the Spotlight review [SideQuesting]
A fantastic nostalgia-fueled horror game with an atmosphere, plot, and characters that are gripping and worthy of a trek
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iQOO Neo 10 Series Launch Confirmed; May Get Snapdragon 8 Gen 3, MediaTek Dimensity 9400 SoCs
iQOO Neo 10 Series Launch Confirmed; May Get Snapdragon 8 Gen 3, MediaTek Dimensity 9400 SoCs
iQOO Neo 10 series will be unveiled in China soon. Details about the upcoming lineup have been circulating in the rumour mill over the past few weeks, and now a senior company executive has confirmed its imminent launch, though the exact date ******** unannounced. The series is expected to include a base iQOO Neo 10 and an iQOO Neo 10 Pro. The lineup will succeed the iQOO Neo 9 and iQOO Neo 9 Pro, which were introduced in China in December 2023. iQOO is also set to unveil the iQOO 13 next month in India.
iQOO Neo 10 Series Launch
The iQOO Neo 10 series was officially confirmed in a Weibo post by iQOO Neo Product Manager. Apart from the moniker, no other details were revealed.
A recent ***** suggested that the iQOO Neo 10 series may arrive in China in November. Since we are almost mid-way through the month, we could see the launch take place towards the end. A formal launch date announcement will likely come soon.
The ***** added that the base iQOO Neo 10 could get a Snapdragon 8 Gen 3 SoC, while the Pro variant may come with a MediaTek Dimensity 9400 chipset. The phones are expected to support 100W wired fast charging. They may get 6,000mAh batteries and 1.5K flat display with narrow bezels.
Other rumours have claimed that the iQOO Neo 10 series handsets could get metal middle frame, which are considerable upgrades over the plastic frame on the iQOO Neo 9 series.
The base iQOO Neo 9 carries a Snapdragon 8 Gen 2 SoC, while the iQOO Neo 9 Pro has a MediaTek Dimensity 9300 chipset. The handsets are backed by 5,160mAh batteries each with support for 20W wired fast charging. The phones have 6.78-inch AMOLED displays and 50-megapixel dual rear camera units.
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Monday’s biggest analyst calls on Wall Street
Monday’s biggest analyst calls on Wall Street
Here are Monday’s biggest calls on Wall Street: UBS downgrades Vale to neutral from buy UBS said in its downgrade of Vale that it’s concerned about “iron ore fundamentals” for the metals and mining company. “However, we remain concerned about iron ore fundamentals medium-term (note) & see downside to the spot price; in our opinion, China steel exports are vulnerable to global restrictions & unlikely to be fully offset by stimulus.” Wedbush upgrades Pinterest to outperform from neutral Wedbush said the company is executing well. “We are upgrading shares of Pinterest to Outperform from Neutral. We think the company is executing well against its user engagement and monetization strategies and ******** on pace to deliver growth and profits in line with its multi-year guidance framework.” Piper Sandler names Nvidia a top pick The firm said Nvidia is a new top pick. “With this preview, we are making NVDA our top large-cap pick given the company’s dominant positioning in AI accelerators and the upcoming launch of the Blackwell architecture.” Bernstein reiterates Burlington as a top pick The firm said Burlington is an “off price underdog.” “BURL is our top pick both into the quarter and medium-term, as the Off-price Underdog shows continued steady performance.” Citi reiterates Apple as a top pick The firm said it’s sticking with its buy rating even as the stock is highly exposed to China. “China is the main manufacturing location for Apple with more than 90% manufacturing in China, in our estimates.” JPMorgan upgrades Valley National to overweight from neutral The firm said the regional bank is doing well at reducing its commercial real estate concentration. “We are upgrading VLY shares from Neutral to Overweight.” Morgan Stanley reiterates Dell as overweight Morgan Stanley raised its price target on Dell to $154 per share from $136. “While our 3Q24 CIO Survey showed that DELL is the best-positioned hardware vendor to capture traditional enterprise spend over the next 3 years, our recent AI server checks show that DELL’s AI infrastructure momentum is building even faster.” Wolfe upgrades Warner Bros Discovery to peer perform from underperform Wolfe said the risk/reward now looks more balanced. “We’ve downgraded WBD twice since July ’23 anticipating accelerating ad sales problems and the NBA loss, but DC change + distributor openness to DTC bundles create positive optionality w/ values above today’s price. Risk/reward looks balanced. Upgrade to Peer Perform.” Morgan Stanley reiterates Nvidia as overweight The firm raised its price target on Nvidia to $160 per share from $150. “The current environment is completely supply constrained on Blackwell, and also partly on H200; we expect another very good quarter, but we think the ******* upward revisions happen later in the year.” Deutsche Bank upgrades Cboe to buy from hold Deutsche Bank said it’s bullish on the exchange trading company. “Our upgrade is driven by our revised view that CBOE will maintain healthy revenue growth in at least 2025, supported by our belief that equity markets may remain volatile over the intermediate term post the US election results, at least episodically, driving greater use of index & volatility options & futures products.” JPMorgan upgrades Cisco to overweight from neutral “The firm said it sees “enterprise networking demand” for Cisco. “We are upgrading Cisco from Neutral to Overweight despite the strong run in the shares since reporting F4Q24 (Jul-end) earnings in the middle of August, driven by our expectation of further headroom for upside in the medium term…” JPMorgan upgrades Orion to overweight from neutral The firm said the architectural company is undervalued. “We upgrade Orion to Overweight with December 2025 price target of $21 and 34% appreciation potential, reflecting a 6x multiple of EBITDA, and downgrade Cabot to Underweight with a $105 price target reflecting a 7.5x multiple of EBITDA and 9% depreciation potential.” Wedbush reiterates Tesla as outperform The firm said Tesla ******** well positioned. “We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years.” Raymond James downgrades Bloomin’ Brands to market perform from outperform Raymond James downgraded the owner of brands like Outback due to lower visibility. “We are lowering our rating on BLMN to Market Perform from Outperform as 1) near-term visibility (and 4Q guide) was worse than we anticipated and 2) proceeds/accretion on the *****/ franchising of its Brazil segment also came in below our expectations.” Bank of America upgrades Tanger to buy from neutral The firm said in its upgrade of Tanger that it’s bullish on the real estate investment trust operator of malls. “Our more bullish view reflects management’s leasing accomplishments YTD which have exceeded our expectations.”
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Europe marks Armistice Day with two-minute silence
Europe marks Armistice Day with two-minute silence
Armistice Day has been marked with two minutes silence across the *** and in Europe.
Prime Minister Sir Keir Starmer joined an event in Paris, while Sophie, the Duchess of Edinburgh led the ceremony at the National Memorial Arboretum in Staffordshire.
Sir Keir and the French president ***** a wreath at the Tomb of the Unknown Soldier at the Arc de Triomphe in the French capital.
Across the ***, the traditional two-minute silence at 11:00 on 11 November was observed. It marks the time and date when the World War One armistice came into effect.
While the Armistice Day tradition began as a way of commemorating those ******* in World War One, it is now used to remember all the people ******* in wars since then.
As well as the event in Staffordshire, events taking place across the *** included Bristol, Cambridge, Nottingham, Liverpool, and Dover.
An event was also held at Westminster, attended by Speaker Sir Lindsay Hoyle.
In Wales, Carmarthenshire council said it would illuminate County Hall on Armistice Day evening to “reflect and remember the sacrifices of our armed forces, and all those whose lives have been lost in conflict and acts of *******”.
Over the weekend, Remembrance Sunday events were held across the ***.
King Charles led the nation in two minutes of silence in remembrance of men and women who lost their lives serving in the two world wars or other conflicts.
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The best travel gifts for 2024
The best travel gifts for 2024
I have been looking for this backpack my entire life. I’ve bought packs from Timbuk2, Bellroy, The North Face, Fjallraven, Patagonia, Osprey and more, all in search of something I thought didn’t exist: A lightweight daypack that stands on its own, has a reasonable amount of pockets and is comfortable to wear all day. On a recent trip to Chicago, when I found myself on a cross-city trek without a pack, I dipped into REI and settled on the Topo Designs Light Pack. I’ve been continually impressed since.
Some bags load up on ergonomics and end up weighing two pounds empty, but this one is super light yet has just the right amount of padding. The two expandable bottle slots on either side hold water and travel cups securely and there are just enough pockets inside to keep smaller bits organized. There’s even a laptop pocket for computers up to 15 inches. The 15-liter capacity is perfect for day trips in the destination city, fitting a couple of hoodies, snacks and even some impulse buys from pastry shops. It stands upright when you set it down instead of tipping forward like a sleepy toddler, something that other bags do that drives me ****. The padding lends structure and both the 400D (medium-heavy) nylon and the uncluttered design make it look polished, something I appreciate on day seven of a seven-day trip. — A.S.
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How can I help a friend who is relentlessly negative about life?
How can I help a friend who is relentlessly negative about life?
“Offering emotional support should, of course, be central to any good relationship”
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After one of my recent book talks, an audience member described a friend who was having a hard time. Every conversation turned to the stress the friend was experiencing at work or the marital problems she was facing at home. “I want to be there for her,” my new acquaintance told me. “But I don’t seem to be helping.”
Offering emotional support should, of course, be central to any good relationship – and until recently, I thought that patient listening was the best help that someone…
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Bitget Crypto Wallet and Foresight Ventures Invest $20 Million in Telegram Mini Apps
Bitget Crypto Wallet and Foresight Ventures Invest $20 Million in Telegram Mini Apps
Telegram’s Mini Apps initiative has secured substantial funding to advance its integration of Web3 technologies into the messaging platform. Bitget Wallet and Foresight Ventures have committed $20 million (roughly Rs. 168 crore) to drive the growth of Telegram’s Mini Apps, as reported by CoinTelegraph on Monday, November 11. As of July 2024, Telegram reported that 500 million of its 950 million global users engaged with Mini Apps each month.
The funding is intended to support the expansion of the Telegram Mini Apps ecosystem, enabling it to develop a strategic roadmap for growth and to continue offering Web3 games with crypto and NFT features to its global user base for enhanced in-app entertainment.
As per CoinTelegraph, Bitget Wallet has offered to let Web3 app makers use its own developer’s kit to make more games and services that integrate Web3 into Telegram’s interface. The developer kit is called OmniConnect and it was launched in September this year.
Web3 developers will also have opportunities to collaborate with existing Mini Apps to expand their game offerings under established brands. Launched in 2023, Telegram’s Mini Apps allow developers to build in-app applications using languages like HTML and JavaScript, making these apps accessible through Telegram’s app store.
Telegram reportedly informed CoinTelegraph that offering this in-app development feature was a natural progression, driven by developers’ demand for creating more sophisticated applications. These developers leverage the Telegram-affiliated TON blockchain to design and launch Web3 apps and games.
“TON Blockchain is the obvious choice to integrate when you consider the scale of some of these applications. Notcoin quickly gained 40 million users, while Hamster Kombat has around 300 million players,” the report quoted Alena Shmalko, ecosystem lead of the TON Foundation as saying.
The Web3 engine of TON gives Telegram’s platform a competitive advantage, opening up new monetisation opportunities for creators, and empowering users with genuine ownership of their digital assets.”
Dogs, Hamster Kombat, and Notcoin have recently emerged as some of the most popular names on Telegram Mini Apps, quickly gaining traction among Telegram users.
For Bitget, this investment in Telegram’s Web3 unit could serve as a strategy to encourage more developers to utilise its developer tools. The platform claimed that it had over 12 million monthly active users in September. The same month, Bitget and Foresight Ventures had announced an investment of $30 million into TON blockchain.
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As COP29 starts, what is Canada’s role in climate finance negotiations? – National
As COP29 starts, what is Canada’s role in climate finance negotiations? – National
This year’s international climate talks are expected to be headlined by fraught negotiations over how Canada and other wealthy countries, who have contributed a disproportionate share of planet-warming emissions, should financially compensate other nations in their ****** to tackle climate change.
Many pressing questions for negotiators are on the table: How much should those wealthy countries pay? Which countries will have to contribute? And how should the money be provided?
The answers may determine just how much money developing countries could receive for everything from renewable energy projects to wetlands conservation.
******** to achieve a new goal at the ******* Nation’s annual climate talks may undercut confidence in major international agreements and strike a ***** against efforts to limit global warming, observers say.
“It’s pretty high stakes,” said Bill Hare, CEO of Climate Analytics, a Berlin-based climate think tank.
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Here’s what you need to know about the climate finance negotiations – and Canada’s role in them – as the 29th annual ******* Nations climate conference, or COP29, kicks off in Azerbaijan’s capital, Baku.
4:12
As countries feud over fossil fuels, what are the takeaways from COP28?
The UN climate talks have recognized that wealthy and historically high-emitting countries have a greater responsibility to solve the problem of climate change.
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To put it in perspective, Canada and 22 other high-income countries – among them, the ******* States, Japan, Australia and Western ********* nations – are responsible for about half of estimated global emissions since the mid-19th century, despite making up about 12 per cent of the population. On a per-capita basis, Canada is among the most polluting countries.
Canada and those 22 other wealthy countries agreed in 2009 to mobilize $100 billion annually by 2020 to support other countries to mitigate their emissions and protect their citizens from the worst impacts of climate change. That funding has come from both public and private finance, such as government loans and grants or private sector investments in emerging green technology sectors.
1:58
2024 will be hottest year on record: EU climate agency
For Canada, that’s led to contributions as varied as $225,000 for solar plants in Samoa to $240 million in grants for the world’s largest dedicated international climate fund. The Green Climate Fund has backed projects to expand Jamaica’s electric bus fleet and build one of the world’s largest solar energy projects in Egypt.
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Yet, the international $100-billion goal was only met for the first time in 2022, two years late. In some cases, developing countries often struggled to access those funds, said Soomin Han, climate finance policy analyst at Climate Action Network Canada.
“That really led to… broken trust between global north and south,” said Han.
Against that backdrop, negotiating a new ambitious and fair international climate finance deal is a “moral imperative,” she said.
Why is climate finance set to dominate these talks?
Countries agreed to come up with a new collective goal by 2025 to replace the $100-billion mark. With that deadline looming, negotiators are expected to hammer out the details of the new pledge at COP29.
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It coincides with another deadline next year for countries to release their updated climate plans – outlining how they plan to cut emissions by 2035 in an effort to limit global warming to 1.5 degrees, as set out in the deal reached in Paris at COP21.
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Setting a realistic climate finance goal will be key to making those plans a reality, said Catherine McKenna, Canada’s former environment minister.
“Emissions needs to go down at scale, money needs to go from fossil fuels to clean (energy) at scale, and then you have to think about people,” said McKenna.
“And you can’t do any of those three things without finance.”
How much does Canada owe?
Under the existing goal, Canada in 2021 doubled its international climate finance pledge to $5.3 billion over five years. A coalition of ********* aid groups has pushed the government to at least triple that number, to $15.9 billion, for the next five-year ******* ending in 2031.
Naomi Johnson, co-chair of the ********* Coalition on Climate Change and Development, or C4D, or called it a “down payment.”
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“That would have to be a lot more going forward in order to achieve climate goals and reach our commitments globally,” said Johnson.
It would represent just a fraction of the larger goal set to be negotiated at the talks. Several independent assessments say developing countries may need upwards of $1 trillion to meet their climate goals.
1:52
Canada not on track to reach climate goals as COP28 kicks off
******* Nations Trade and Development, a UN institution which has proposed an annual goal of $1.46 trillion by 2030, suggested it would be roughly on par with what wealthy countries spend on their military budgets and less than their combined fossil fuel subsidies.
Canada, along with other wealthy countries, has not tabled a dollar-figure proposal.
Minister of Environment and Climate Change Steven Guilbeault suggested it may not be a single amount, reflecting layers of public and private sector financing, along with multilateral commitments from institutions such as the World Bank.
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Yet, a possible roadblock to figuring out how much wealthy countries owe, some observers say, may be who needs to pay.
“The new climate finance pledge is going to be really, really messy negotiations,” said Catherine Abreu, director of the International Climate Politics Hub and a leading ********* climate policy adviser.
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The current list of 23 contributor countries is more than 30 years old. Wealthier countries, including Canada, are now suggesting that China and some Gulf states, for example, should be required to contribute to the new climate finance goal since their emissions have increased significantly as their economies have grown.
Yet, there’s concern that some wealthy countries may wield those arguments in a bad ****** effort to shirk their responsibilities after years of coming up short on their own climate finance goals, said Abreu.
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“Canada is also going to have to be able to play a constructive role of kind of bridging these divides,” she said.
What is Canada’s role in climate finance talks?
Guilbeault says Canada has played a central role for years in international climate finance talks.
“I think people see Canada as a reliable partner and bridge builder in these negotiations to help countries find solutions for these difficult discussions, and I certainly will be happy to try and play that role again in Baku this year,” he said in a recent interview.
Alongside Germany, Canada was asked to lead the charge on getting wealthy countries to meet the previous $100-billion goal.
2:00
Canada’s new plan to cut 75% in methane emissions
More recently, Canada and Switzerland were the first countries to put forward specific eligibility criteria to expand the contributor base to include new countries. Canada’s proposal would see Russia, Saudi Arabia and China added to the list.
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Canada has already shown leadership in navigating this “complex issue” said Han, the climate finance policy analyst with Climate Action Network Canada. Now, Canada must ensure negotiations over who pays don’t derail the adoption of a new goal.
“It needs to step up to build consensus between developed countries,” Han said.
Where should the money go and how should it be delivered?
Johnson, the C4D co-chair, suggested how countries deliver the new climate finance goal may be more important than the dollar figure. The coalition, along with developing countries, has been pushing for a greater share of climate finance to come in the form of government grants, rather than loans that can drive developing countries further into debt.
An analysis by the International Institute for Environment and Development found small island developing nations and the group of least developed countries spent about US$59 billion repaying debts in 2022, compared with $28 billion they received in climate finance. Of that US$28 billion, about half was provided as loans, the analysis suggested.
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Johnson said it was “horrendous” that Canada was one of the largest providers of loans in its climate finance commitments.
Guilbeault said Canada was making progress and aiming for an even split between loans and grants in climate finance commitments, still short of the 60-40 loan-favoured split advocated for by the coalition.
“My hope is that we can get to 50-50 in the near future,” he said.
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Observers have also pushed countries to better divide up money for projects that help countries reduce emissions and those that help them adapt to climate change impacts.
Complicating those discussions is the question of whether the goal should also include money to help pay for the losses and damages developing countries are already facing from climate change.
While last year’s talks kick-started a loss and damage fund, developing countries have expressed concerns that if it’s not included under the new goal, it may go underfunded.
Canada, an early supporter of that fund with a $16 million pledge, wants to keep it separate over concerns it could bog down negotiations.
The negotiations are set to tackle several other big issues, including how to transparently track the money and how to divide contributions between the public and private sector.
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As COP29 starts, what is Canada’s role in climate finance negotiations? – National
As COP29 starts, what is Canada’s role in climate finance negotiations? – National
This year’s international climate talks are expected to be headlined by fraught negotiations over how Canada and other wealthy countries, who have contributed a disproportionate share of planet-warming emissions, should financially compensate other nations in their ****** to tackle climate change.
Many pressing questions for negotiators are on the table: How much should those wealthy countries pay? Which countries will have to contribute? And how should the money be provided?
The answers may determine just how much money developing countries could receive for everything from renewable energy projects to wetlands conservation.
******** to achieve a new goal at the ******* Nation’s annual climate talks may undercut confidence in major international agreements and strike a ***** against efforts to limit global warming, observers say.
“It’s pretty high stakes,” said Bill Hare, CEO of Climate Analytics, a Berlin-based climate think tank.
Story continues below advertisement
Here’s what you need to know about the climate finance negotiations – and Canada’s role in them – as the 29th annual ******* Nations climate conference, or COP29, kicks off in Azerbaijan’s capital, Baku.
4:12
As countries feud over fossil fuels, what are the takeaways from COP28?
The UN climate talks have recognized that wealthy and historically high-emitting countries have a greater responsibility to solve the problem of climate change.
Story continues below advertisement
To put it in perspective, Canada and 22 other high-income countries – among them, the ******* States, Japan, Australia and Western ********* nations – are responsible for about half of estimated global emissions since the mid-19th century, despite making up about 12 per cent of the population. On a per-capita basis, Canada is among the most polluting countries.
Canada and those 22 other wealthy countries agreed in 2009 to mobilize $100 billion annually by 2020 to support other countries to mitigate their emissions and protect their citizens from the worst impacts of climate change. That funding has come from both public and private finance, such as government loans and grants or private sector investments in emerging green technology sectors.
1:58
2024 will be hottest year on record: EU climate agency
For Canada, that’s led to contributions as varied as $225,000 for solar plants in Samoa to $240 million in grants for the world’s largest dedicated international climate fund. The Green Climate Fund has backed projects to expand Jamaica’s electric bus fleet and build one of the world’s largest solar energy projects in Egypt.
Story continues below advertisement
Yet, the international $100-billion goal was only met for the first time in 2022, two years late. In some cases, developing countries often struggled to access those funds, said Soomin Han, climate finance policy analyst at Climate Action Network Canada.
“That really led to… broken trust between global north and south,” said Han.
Against that backdrop, negotiating a new ambitious and fair international climate finance deal is a “moral imperative,” she said.
Why is climate finance set to dominate these talks?
Countries agreed to come up with a new collective goal by 2025 to replace the $100-billion mark. With that deadline looming, negotiators are expected to hammer out the details of the new pledge at COP29.
Get daily National news
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It coincides with another deadline next year for countries to release their updated climate plans – outlining how they plan to cut emissions by 2035 in an effort to limit global warming to 1.5 degrees, as set out in the deal reached in Paris at COP21.
Story continues below advertisement
Setting a realistic climate finance goal will be key to making those plans a reality, said Catherine McKenna, Canada’s former environment minister.
“Emissions needs to go down at scale, money needs to go from fossil fuels to clean (energy) at scale, and then you have to think about people,” said McKenna.
“And you can’t do any of those three things without finance.”
How much does Canada owe?
Under the existing goal, Canada in 2021 doubled its international climate finance pledge to $5.3 billion over five years. A coalition of ********* aid groups has pushed the government to at least triple that number, to $15.9 billion, for the next five-year ******* ending in 2031.
Naomi Johnson, co-chair of the ********* Coalition on Climate Change and Development, or C4D, or called it a “down payment.”
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“That would have to be a lot more going forward in order to achieve climate goals and reach our commitments globally,” said Johnson.
It would represent just a fraction of the larger goal set to be negotiated at the talks. Several independent assessments say developing countries may need upwards of $1 trillion to meet their climate goals.
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******* Nations Trade and Development, a UN institution which has proposed an annual goal of $1.46 trillion by 2030, suggested it would be roughly on par with what wealthy countries spend on their military budgets and less than their combined fossil fuel subsidies.
Canada, along with other wealthy countries, has not tabled a dollar-figure proposal.
Minister of Environment and Climate Change Steven Guilbeault suggested it may not be a single amount, reflecting layers of public and private sector financing, along with multilateral commitments from institutions such as the World Bank.
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Yet, a possible roadblock to figuring out how much wealthy countries owe, some observers say, may be who needs to pay.
“The new climate finance pledge is going to be really, really messy negotiations,” said Catherine Abreu, director of the International Climate Politics Hub and a leading ********* climate policy adviser.
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The current list of 23 contributor countries is more than 30 years old. Wealthier countries, including Canada, are now suggesting that China and some Gulf states, for example, should be required to contribute to the new climate finance goal since their emissions have increased significantly as their economies have grown.
Yet, there’s concern that some wealthy countries may wield those arguments in a bad ****** effort to shirk their responsibilities after years of coming up short on their own climate finance goals, said Abreu.
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“Canada is also going to have to be able to play a constructive role of kind of bridging these divides,” she said.
What is Canada’s role in climate finance talks?
Guilbeault says Canada has played a central role for years in international climate finance talks.
“I think people see Canada as a reliable partner and bridge builder in these negotiations to help countries find solutions for these difficult discussions, and I certainly will be happy to try and play that role again in Baku this year,” he said in a recent interview.
Alongside Germany, Canada was asked to lead the charge on getting wealthy countries to meet the previous $100-billion goal.
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More recently, Canada and Switzerland were the first countries to put forward specific eligibility criteria to expand the contributor base to include new countries. Canada’s proposal would see Russia, Saudi Arabia and China added to the list.
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Canada has already shown leadership in navigating this “complex issue” said Han, the climate finance policy analyst with Climate Action Network Canada. Now, Canada must ensure negotiations over who pays don’t derail the adoption of a new goal.
“It needs to step up to build consensus between developed countries,” Han said.
Where should the money go and how should it be delivered?
Johnson, the C4D co-chair, suggested how countries deliver the new climate finance goal may be more important than the dollar figure. The coalition, along with developing countries, has been pushing for a greater share of climate finance to come in the form of government grants, rather than loans that can drive developing countries further into debt.
An analysis by the International Institute for Environment and Development found small island developing nations and the group of least developed countries spent about US$59 billion repaying debts in 2022, compared with $28 billion they received in climate finance. Of that US$28 billion, about half was provided as loans, the analysis suggested.
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Johnson said it was “horrendous” that Canada was one of the largest providers of loans in its climate finance commitments.
Guilbeault said Canada was making progress and aiming for an even split between loans and grants in climate finance commitments, still short of the 60-40 loan-favoured split advocated for by the coalition.
“My hope is that we can get to 50-50 in the near future,” he said.
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Observers have also pushed countries to better divide up money for projects that help countries reduce emissions and those that help them adapt to climate change impacts.
Complicating those discussions is the question of whether the goal should also include money to help pay for the losses and damages developing countries are already facing from climate change.
While last year’s talks kick-started a loss and damage fund, developing countries have expressed concerns that if it’s not included under the new goal, it may go underfunded.
Canada, an early supporter of that fund with a $16 million pledge, wants to keep it separate over concerns it could bog down negotiations.
The negotiations are set to tackle several other big issues, including how to transparently track the money and how to divide contributions between the public and private sector.
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Pelican News
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Yakuza creator Nagoshi says the era of game size being most important is coming to an end
Yakuza creator Nagoshi says the era of game size being most important is coming to an end
Yakuza / Like a Dragon creator Toshihiro Nagoshi says he feels games will soon no longer be judged on how big they are.
In an interview with Famitsu, Nagoshi explained that his new studio’s debut game will be an action-adventure game, but stressed that he doesn’t think game size is as important as it used to be.
“I want to make a game that is fun to play, but isn’t too much of a hassle,” Nagoshi said (via machine translation).
“Even though there aren’t many completely original games now, if you include overseas games there are so many titles out there that it’s impossible to play them all.
“Looking at the situation, I think that the number of console games in the lives of ordinary game fans may be a little excessive. There are still many titles being released, but I feel that the era of games where the volume is the selling point is coming to an end.”
The Yakuza / Like a Dragon series is known for packing lots of content into its worlds.
Nagoshi founded a new studio three years ago, but has yet to announce its debut game. After sharing his views on larger games, he told Famitsu that he was currently in the process of trying to make the world map smaller in his current project.
“We should be entering the mass production phase for the assets soon, so it’s about time to decide on the final volume estimate, but I’m still thinking about whether it’s really good enough,” he explained. ” Of course we have the map, but the current version is so large that it’s almost too large.
“This time, while researching existing games, we started by making a fairly large map with roads and highways. Now we are gradually shrinking it down and exploring the best balance for the game.”
When Famitsu’s reporter suggested that a large map is nice to have, but its content has to be dense, Nagoshi agreed.
“That’s the point,” he replied. “You could fill it in with some element to create a sense of density, but it’s not modern to have similar experiences repeated over and over again.
“I think that in order to properly connect the scale of the map with the fun of playing, it is important to design the world view and explain what the player, as the protagonist, is doing in this world. The role of the drama is to support that. I feel like the time to decide what the right size is to balance everything is coming up soon.”
In Nagoshi Studio’s first Western interview last year, Nagoshi told VGC that he would not let down fans of his previous games and would ensure they would be happy with his new studio’s debut game.
“Obviously, we’re not going to create something exactly the same, but I do understand there are expectations from people based more on me as a creator and my personality, so people want to see my tastes and my personality in my new games,” Nagoshi told us via a translator.
“Obviously, I will not betray my fans in that sense – I will create something with my personality and make a dramatic game, stuff like that – and my taste and personality will be reflected in the game. I can’t tell you exactly what genre it’ll be or what the game is going to be like, but I will not betray my fans.”
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#Yakuza #creator #Nagoshi #era #game #size #important #coming
Pelican News
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In satire Rumours, diplomatic communiques collide with the end times
In satire Rumours, diplomatic communiques collide with the end times
A stellar cast play leaders of G7 countries facing an existential crisis in Rumours, a smart film about communication, diplomatic nonsense and not coping, says Simon Ings
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#satire #Rumours #diplomatic #communiques #collide #times
Pelican News
View the full article at [Hidden Content]
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