Brighton 3-2 Liverpool: Mohamed Salah waits for Premier League record
Brighton 3-2 Liverpool: Mohamed Salah waits for Premier League record
Salah, who captained Liverpool for the first time in the loss at Brighton, is certain to equal one record by the end of the season – with the Golden Boot heading his way once more.
The 32-year-old leads the goal rankings with 28 this season, five ahead of Newcastle’s Alexander Isak with just one match to play.
So barring anything ridiculous in the final game of the campaign, Salah will win the Premier League Golden Boot for a fourth time, equalling Henry’s record for Arsenal.
He will also have an eye on winning the European Golden Shoe, an award given to the leading league scorer in Europe.
Sporting’s Swedish striker Viktor Gyokeres currently tops those standings with 39 goals but, with the Portuguese league season now over, all he can do is watch and wait.
Salah needs two goals in the final game of the campaign against Palace to overtake him, while Real Madrid’s Kylian Mbappe is just one goal away from Gyokeres, also with one match remaining.
While Salah (28 goals) and Mbappe (29 goals) are way short of the former Coventry striker’s tally, they can go past his points total thanks to the Golden Shoe’s scoring system.
It’s not decided simply by which player scores the most goals; the award uses a points-based system that considers the strength of the league in which a player competes.
Created in the 1967-68 season, the Golden Shoe was previously awarded to the top scorer in any European league.
However, in 1997 the rules were changed to use a ranking format that favours players in the higher profile leagues.
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Residents in parts of NSW warned to evacuate as heavy rains cause flash flooding
Residents in parts of NSW warned to evacuate as heavy rains cause flash flooding
Residents in parts of NSW have been told to evacuate immediately amid heavy rains and flash flooding, with the SES warning it may be too late for people to be rescued if they wait.
An emergency warning was issued late on Monday for parts of Paterson and Dungog, as well as the Ferndale Caravan Park, advising people to evacuate before 11.30pm due to dangerous flooding.
Camera IconWild weather has lashed the Central Coast and the Hunter Valley causing flash flooding and prompting hundreds of calls for help to the SES. Weatherzone Credit: Supplied
The Paterson River at Gostwyck Bridge is currently at 10.40m and rising, well above the minor flood level of 9.19m.
The Bureau of Meteorology warned it may reach around 13.5m on Tuesday morning, with major flooding nearing the flood level recorded in March, 2021.
The Williams River at Dungog is also expected to exceed major flood levels by early Tuesday morning, possibly nearing 9m.
Camera IconVarious ‘watch and act’ alerts remain in place for various areas along the coast between Chittaway Point and Glenreagh. NSW SES Credit: Supplied
Early on Tuesday morning, further evacuation notices were also issued for parts of Bulahdelah and the Gloucester Caravan Park, warning residents “must evacuate” to escape rising floodwaters before 6am.
“You should evacuate to stay with family, friends, or alternate accommodation in areas unaffected by flooding,” the alert said.
“If you remain in the area, you may become trapped without power, water, and other essential services.
“It may be too dangerous for NSW SES to rescue you, and buildings may not be able to withstand the impact of flood water.”
Camera IconRoads remain closed after heavy rain with flooding and damaging winds continued on Tuesday. NewsWire/Tertius Pickard Credit: News Corp Australia
The SES has also advised people in Port Macquarie, Taree, Kempsey, Barrington Tops, Winham and Yarrowtich to stay indoors, while ‘watch and act’ alerts remain in place for areas along the coast between Chittaway Point and Glenreagh.
Authorities warned that six-hourly rainfall totals between 60mm and 100mm are likely to continue, with a whopping 166mm recorded at Taree Airport and 97mm recorded at Mount Barrington in the six hours to 3.30am on Tuesday.
As well as rain and flash flooding, the Bureau has also issued marine wind warnings for various locations on the NSW coast, including the Hunter Coast, Byron Coast, Coffs Coast and Macquarie Coast.
Camera IconHeavy showers hit the east coast on Monday as parts of NSW experienced major flooding. NewsWire/Tertius Pickard Credit: News Corp Australia
The wild weather is due to a coastal trough positioned offshore from the southern Mid North Coast, which is forecast to slowly track northwards into Tuesday, bringing further heavy rainfall and damaging winds to the Hunter Region.
With further moderate to heavy rainfall forecast for the next few dates, residents have been told to remain vigilant.
Five public schools were declared non-operational, including Dungog High School, Dungog Public School, Glen William Public School, Mount Pleasant Public School and Narara Valley High School.
Camera IconWith further moderate to heavy rainfall forecast for the next few dates, residents have been told to remain vigilant. Windy Credit: Supplied
Limited buses are replacing trains on the Hunter Line trains between Newcastle Interchange, Scone and Dungog in both directions due to flooding at Sandgate.
For life threatening emergencies, call 000 (triple zero) immediately.
If you require rescue, assistance to evacuate or other emergency help, ring NSW SES on 132 500.
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The GOP wants work requirements for Medicaid. Here’s what those rules do (and don’t) accomplish.
The GOP wants work requirements for Medicaid. Here’s what those rules do (and don’t) accomplish.
As they work to pass a “big beautiful bill” filled with tax cuts and spending reductions, Republicans in Congress are proposing adding work requirements to Medicaid, the $618 billion program that provides healthcare to more than 70 million low-income Americans.
“When so many Americans who are truly in need rely on Medicaid for life-saving services, Washington can’t afford to undermine the program further by subsidizing capable adults who choose not to work,” GOP Rep. Brett Guthrie, chairman of the House Committee on Energy and Commerce wrote in an op-ed last week. “That’s why our bill would implement sensible work requirements.”
As the name implies, work requirements are rules that force people to work in order to receive a government benefit. They have been in use for decades as part of other programs, most notably cash ******** assistance, but have never been used nationally for Medicaid. Only one state, Georgia, currently has work requirements for Medicaid. Arkansas had them briefly at the end of the last decade, but the policy was struck down by the courts.
The GOP’s draft proposal would establish a nationwide “community engagement requirement” that would mandate Medicaid recipients to work, volunteer, or attend school for at least 80 hours per month to maintain their benefits. It includes many exceptions that would allow pregnant women, new mothers, anyone under 19 and members of certain other groups to keep their coverage without working.
The goal
Work requirements have been a popular solution to concerns about “freeloading” in government programs since at least the 1980s. Supporters see them as a crucial step toward putting people on a path to supporting themselves and as a tool to weed out those who aren’t willing to put in the effort to improve their circumstances.
In the 1990s, then-President Bill Clinton signed a bill establishing nationwide work requirements for cash ******** as part of what he called “a crusade to transform our system of ******** into a system of work; to transform a system of dependence into a system of independence.”
That logic is still convincing to most Americans today. Well over half of respondents (62%) said they support work requirements for Medicaid in a poll taken earlier this year by the healthcare research group KFF.
Despite how common this perception is, the overwhelming share of evidence we have from the real world suggests that work requirements don’t make people more self-sufficient and create barriers that cause even those who do work to lose benefits they are eligible for.
The reality
Study after study over the decades has found that work requirements — whether they’re for Medicaid, food assistance or cash ******** — don’t have a meaningful effect on employment. A recent government report that looked at the effects of work requirements on Temporary Assistance for Needy Families, the program more commonly known as ********, found that after nearly three decades, the policy had “little effect on employment” but had “substantially reduced the number of people receiving the benefits they provide.”
A different study on work requirements for food assistance, commonly known as food stamps, found similar results: Employment rates weren’t affected, but hundreds of thousands of people lost access to support they relied on to eat.
Medicaid work requirements haven’t been tried at a wide scale, but research into the more limited attempts suggest that results are similar. Arkansas imposed its own “community engagement” rules in 2018. The policy was only in place for 10 months, but in that span 18,000 people in the state lost health coverage and the rules “did not increase employment,” one study found. Georgia’s Medicaid work requirement system, which has been in place since 2023, has been plagued by low enrollment, technical glitches and ballooning administrative costs.
Two years ago, the non-partisan Congressional Budget Office released an estimate of the impact that nationwide work requirements for Medicaid would have. It found that the policy would cause 1.5 million Americans to lose their healthcare coverage and would have “negligible effect on employment status or hours worked.”
Why work requirements don’t work
One of the main reasons that work requirements don’t increase employment is because most people who get government benefits are already working or are unable to work. About 92% of Medicaid recipients under the age of 65 are either employed or unable to work because of disability, illness, caregiving responsibilities or school obligations, according to KFF.
A donut chart showing the employment status of Medicaid recipients, with 92% either working or unable to work because of their circumstances.
There is also research showing that adding extra paperwork steps — like requiring people to certify with the government that they are in fact working — can create bureaucratic pitfalls that cause even those who have satisfied all of the new criteria to lose their benefits.
“Work requirements impose administrative barriers and red tape that lead to coverage losses among both people who are working as well as people the policies purport to exempt,” Gideon Lukens and Elizabeth Zhang of the Center on Policy and Budget Priorities wrote earlier this year.
Many critics of work requirements say the policy is built on the false belief that people who are struggling to get by are in that position because of laziness or some other personal shortcoming.
“More stringent work requirements implemented in the past have largely failed to boost work in significant ways because these requirements do not attack the core problems of weak macroeconomic conditions, the volatile nature of low-wage work, and other barriers to work,” Hilary Wething of the Economic Policy Institute wrote in January.
Will the work requirements become law?
Republicans are attempting to combine a laundry list of legislative priorities into a single, massive spending bill that they hope to pass before Memorial Day. With narrow majorities in both houses of Congress and zero reason to expect they will get any Democratic votes, they have very little room for error. Any part of the bill could be changed or scrapped altogether if the party can’t unify behind it.
Medicaid work requirements have been a point of disagreement in negotiations within the party, but so far there has not been vocal opposition to imposing them. In fact, the main critique has come from hardline conservatives who want them to go into effect sooner than they would in the initial proposal.
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Wall Street’s rebound puts pressure on earnings to justify high stock prices
Wall Street’s rebound puts pressure on earnings to justify high stock prices
The stock market rally that followed the U.S.-China agreement to temporarily reduce tariffs appears to have run out of steam , and investors may now find themselves uneasy with where prices sit. Adam Parker, founder of Trivariate Research, said in a note to clients Sunday that the “upside-downside ratio for the S & P 500 is not particularly attractive,” with the outlook for earnings looking particularly shaky. “The 20-year median Q3 year-over-year earnings growth is 4.7%. The growth in 2024 was 7.2% (higher than the long-term average) and yet estimates for 2025Q3 call for 7%. This is an above normal expectation for growth, against a more challenging than average comparison, six months lagged from the first major tariff implementation in nearly a century,” Parker said. “Does this holistically make sense? We don’t think so,” he added. .SPX YTD mountain The S & P 500 has rebounded sharply from its April lows. The S & P 500 currently has a forward price-to-earnings ratio of about 21.6, according to FactSet, which is roughly where the market was trading in late 2024 before President Donald Trump’s tariff rollout. “Investors have quickly gone from a glass-half-empty view on stocks to a glass-half-full view, which has significantly closed opportunity gaps that formed in early April,” Anthony Saglimbene, Ameriprise chief market strategist, said in a note to clients Monday. The U.S. economy has surprised to the upside quite often since the Covid-19 pandemic, and continued growth could help put a floor under the market. Michael Grant, co-chief investment officer at Calamos Investments, told CNBC that he thinks many economists are too pessimistic about the economy and that a recession is unlikely this year. “What the market is interpreting is a broadening of stimulus across the economy, of which this whole tariff plan is just a part,” Grant said. — CNBC’s Michael Bloom contributed reporting.
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Trump to personally appeal to lawmakers as major sticking points remain unresolved on his ‘one big, beautiful’ agenda bill – CNN
Trump to personally appeal to lawmakers as major sticking points remain unresolved on his ‘one big, beautiful’ agenda bill – CNN
Trump to personally appeal to lawmakers as major sticking points remain unresolved on his ‘one big, beautiful’ agenda bill CNNInside the Republican Factions Dueling Over Trump’s Tax Bill The New York TimesPackers sign WR Matthew Golden Green Bay PackersRepublicans tweak megabill’s SNAP, Medicaid provisions PoliticoMedicaid, SNAP, tax cuts: What’s in the Trump bill lawmakers aim to pass this week USA Today
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Kevin de Bruyne: Manchester City midfielder ‘second-best’ passer after Messi
Kevin de Bruyne: Manchester City midfielder ‘second-best’ passer after Messi
Pep Guardiola says Manchester City midfielder Kevin de Bruyne is the “second-best” passer he has worked with – after Argentine great Lionel Messi.
Guardiola holds the departing Belgian in high esteem, ahead of the likes of other pass-masters he has managed such as Andres Iniesta and Xavi at Barcelona, and former City midfielder David Silva.
De Bruyne announced last month he will leave City after 10 years when his contract expires at the end of the season, with his final home game against Bournemouth on Tuesday (kick-off 20:00 BST).
Guardiola said it would be “difficult to find” another player who passed the ball like De Bruyne and hailed him as “one of the best three” he has ever seen, before swiftly changing his mind.
“One is Messi,” said Guardiola. “And the other two, let me think about it…OK, let me put Kevin second.”
He added: “Messi is the best I have ever seen because Messi has done it really, really close to the box but Kevin is there. It’s just the stats, the goals, the assists, that he provides to the team in the final third and the talent.
“That is unique, that is why he has been one of the best players this club has had in the whole history. These are big, big words because he has been a special player.”
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SWFL: South Bunbury break through for second win of women’s season with 17-point victory over Eaton
SWFL: South Bunbury break through for second win of women’s season with 17-point victory over Eaton
South Bunbury’s women’s side broke through for their second win of the South West Football League season at Hands Oval on Sunday, defeating Eaton by 17 points.
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The Supreme Court Has Officially Had Enough Of Donald Trump’s Excuses
The Supreme Court Has Officially Had Enough Of Donald Trump’s Excuses
Early Friday evening, the Supreme Court issued a pointed decision in the case of a group of Venezuelan detainees who previously faced the imminent risk of being sent to a notorious prison in El Salvador by the Trump administration. In addition to rejecting the administration’s choice to give these detainees only 24 hours notice of their removal, the decision answered a question indirectly posed in the case. Is the highest court in the nation sick of the Trump administration’s *********?
The answer, the decision states rather definitively, is yes — at least in immigration cases involving removals under the Alien Enemies Act.
In an eight-page unsigned decision, with only Justices Samuel Alito and Clarence Thomas dissenting, the court firmly rejected how the administration has been using the Alien Enemies Act to quickly remove Venezuelan and Salvadoran immigrants with little to no due process while also effectively calling the administration liars, in so many words.
The decision comes in the case of A.A.R.P. v. Trump (the plaintiff is a Venezuelan man, not the senior citizen interest group) where a group of Venezuelan immigrants detained at the Bluebonnet Detention Facility in Anson, Texas, filed an emergency application to the Supreme Court to block their imminent removal after lower courts refused them April 18. The court responded with an extraordinarily rare late-night decision halting their removal at 12:52 a.m. April 19 and took up the case for further review.
Friday’s decision, as part of the court’s further review, states that the government misrepresented the facts on the ground at Bluebonnet at the time. The justices “understood” that the administration asserted “the right to remove the detainees as soon as midnight central time on April 19,” according to the decision. But also saw that, in a district court hearing April 18, the administration “guaranteed that no putative class members would be removed that day.”
Venezuelan immigrants detained at the Bluebonnet Detention Center in Anson, Texas, form an S.O.S. in the courtyard. Brandon Bell via Getty Images
This, however, was false. “Evidence now in the record (although not all before us on April 18) suggests that the Government had in fact taken steps on the afternoon of April 18 toward removing detainees under the AEA — including transporting them from their detention facility to an airport and later returning them to the facility,” the decision states.
Then the decision notes that had the court not intervened, the administration could claim no power to return them from the CECOT prison in El Salvador and no court could force them to do so, as it has done in the case of wrongly removed detainee Kilmar Abrego Garcia.
“Had the detainees been removed from the United States to the custody of a foreign sovereign on April 19, the Government may have argued, as it has previously argued, that no U. S. court had jurisdiction to order relief,” the decision states.
This is an incredibly pointed rebuke of the administration’s failure to obey a Supreme Court order to “facilitate” Abrego Garcia’s “release from custody in El Salvador and to ensure that his case is handled as it would have been had he not been improperly sent to El Salvador.”
Later, the decision again notes the administration’s position on not returning Abrego Garcia when it declares that the administration’s choice to offer notice of removal “roughly 24 hours before removal, devoid of information about how to exercise due process rights to contest that removal, surely does not pass muster.” The court previously ruled in the case of J.G.G. v. Trump that the government must provide notice of removal to allow detainees to contest their detention through writs of habeas corpus.
The threat of removal for the men who brought the case “are accordingly particularly weighty,” since the administration “has represented elsewhere that it is unable to provide for the return of an individual deported in error to a prison in El Salvador, where it is alleged that detainees face indefinite detention.”
Here the court says that the administration’s efforts to deny due process to detained immigrants by offering only rudimentary notice of removal is undermined by their efforts to completely eliminate the possibility of due process by shipping them off to a foreign prison. The court’s assertion that they face “indefinite detention” further drives home the point that this is no ordinary prison, as no one detained at CECOT has seen a day in court and the only prisoner ever known to have stepped outside of it is Abrego Garcia when he met with Sen. Chris Van Hollen (D-Md.).
Clearly, the court doesn’t think highly of the administration’s scheme to evade due process, reject the power of courts to compel the return of detainees sent overseas and prevent detainees from contesting their detention through habeas corpus.
Kilmar Abrego Garcia, left, is the only person known to see the outside of El Salvador’s CECOT prison when he met Sen. Chris Van Hollen (D-Md.). via Associated Press
And yet, that’s not the end of the court’s rejection of the administration’s actions under the Alien Enemies Act. The court also rejected the ruse the administration has been using to try to stop courts from designating all detainees subject to the Alien Enemies Act as a class of people facing a similar predicament when an individual or group of individuals brings a case.
To avoid this class certification, which could lead to protection from removal for all men detained in a judicial district, the administration has been claiming that it will not subject the individual detainees who bring a suit to removal proceedings while their case moves forward. This, they argue, means that the petitioners and the rest of the detainees no longer face a similar threat of removal and are, therefore, not in a class together.
“[W]e reject the proposition that a class-action defendant may defeat class treatment, if it is otherwise proper, by promising as a matter of grace to treat named plaintiffs differently,” the decision states. “And we are skeptical of the self-defeating notion that the right to the notice necessary to ‘actually seek habeas relief,’ must itself be vindicated through individual habeas petitions, somehow by plaintiffs who have not received notice.”
All of these rebukes and rejections show that the court is sick and tired of the games the administration is playing to evade the law and the Constitution.
That point is driven home by the effect of the court’s decision, which requires the administration to provide real notice of removal exceeding 24 hours and prevents the removal of anyone under the Alien Enemies Act until the Fifth Circuit Court of Appeals, which covers the Bluebonnet Detention Facility, and the Supreme Court rules on exactly how much time must be given.
While only applying to the Fifth Circuit, this order will prevent any further removals under the Alien Enemies Act anywhere in the country as the court has made it plain that it does not trust the administration to do so without breaking the law.
What the court did not do in this case is rule on whether the administration rightly invoked the Alien Enemies Act, which is to remove “alien enemies” in the event of an “invasion” or “predatory incursion.” That question is still moving through the lower courts, where three judges have rejected the administration’s use of the law while one has upheld it.
That issue will surely make its way to the Supreme Court this year. Based on the court’s decision on Friday, the administration is burning through any goodwill for the court to treat its arguments as operating in any normal fashion.
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Bitcoin retreats after hitting four-month high above $107,000: CNBC Crypto World
Bitcoin retreats after hitting four-month high above $107,000: CNBC Crypto World
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On today’s episode of CNBC Crypto World, Bitcoin falls after hitting a four-month high above $107,000. And, the Trump family’s World Liberty Financial crypto project pushes back on Sen. Richard Blumenthal’s concerns of potential conflicts of interest or violations of the law tied to the President’s crypto ventures, including World Liberty. Plus, Nathan Allman, founder and CEO of Ondo Finance, discusses a new partnership with JP Morgan’s blockchain unit from Consensus 2025.
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Fred Warner, 49ers agree to three-year extension – NBC Sports
Fred Warner, 49ers agree to three-year extension – NBC Sports
Fred Warner, 49ers agree to three-year extension NBC SportsSources: 49ers make Warner NFL’s top-paid LB ESPNNiners, LB Fred Warner agree to terms on three-year, $63 million contract extension NFL.comReport: 49ers, Fred Warner very close to finalizing a contract extension NBC SportsSources: Warner, 49ers close to finalizing multi-year extension NBC Sports Bay Area & California
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Trump's man in London backs AUKUS partnership
Trump's man in London backs AUKUS partnership
The new US ambassador to Britain says AUKUS, the trilateral security pact between Australia, Britain and the US, is “vital to the world”.
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What to know about Netflix’s downgrade & ‘Sesame Street’ addition
What to know about Netflix’s downgrade & ‘Sesame Street’ addition
00:00 Speaker A
Netflix stock, meanwhile, closed flat on Monday, climbing back from earlier session losses after JP Morgan analyst downgraded that stock to neutral from overweight.
00:09 Speaker A
Ali, what can you tell us?
00:12 Ali
Yes, so, when we think about why this happened, a big reason is because of valuation, right? We’ve seen this stock hit record after record. Shares are up about 30% since the start of the year. Since October 2022, we’ve actually seen shares surge nearly 400%, far outpacing the S&P 500 at around 60% over that same time *******. And so far this year, Netflix has been viewed as this defensive name within Big Tech, right? There’s been broader concerns about the regulatory environment, about higher prices, the uncertainty with tariffs, um and also the potential that the advertising landscape will slow down. So, uh, Netflix has been this safe haven throughout that. But recently we’ve seen, um, more, uh, tensions with US and China relations ease significantly. That’s lifted the sector overall. So, JP Morgan arguing that this could prompt investors to rotate into names that have been more beaten down. So, think of meta, Amazon. Those are some companies that could potentially benefit from this rotation. Also, coming into second quarter, the Q2, uh, time frame, the summer months, usually a softer time ******* for Netflix.
01:43 Speaker A
Not many potential catalysts, maybe?
01:46 Ali
Exactly. So, catalysts are a little bit more quiet right now. So, this is really more a near-term call. Over the long term, JP Morgan is very bullish on Netflix. Clearly this is a company that is an outperformer. We have a lot of strong content coming down the pipeline with Squid Game, with Wednesday, with Stranger Things. Uh, ads continuing to do very well. The ad tier has a lot of momentum. So, all of that could prove that this downgrade is a little too cautious. But I think, uh, Doug Anmuth, who’s an analyst here, he just wants to err on that side because the risk reward is a bit more balanced here considering you have share price that is well over 1,000 bucks now. So, potentially, maybe some bumps in the road in the near term, but overall
02:41 Speaker A
Tomorrow is Sesame Street by the way, for those of you.
02:45 Ali
Yes, Sesame Street. We talked about content, right? I mean, Sesame Street. I haven’t seen a ton of analyst reaction to Sesame Street in particular. However, in our news room, there’s been a lot of talk from our producers about how excited they are for this and this is clearly a push for Netflix to embrace more family-friendly content.
03:12 Speaker A
How can you not be excited? Look at that. Come on.
03:15 Ali
Yeah, we we love this. Cookie Monster, right? That’s who I guess.
03:22 Speaker A
I tell you though, they they got a lot of work in the
03:28 Ali
Like Oscar the Grouch, which one is it? Which one is it? I don’t I don’t have any children. Don’t talk to me.
03:33 Speaker A
And I I honestly as the parent here, I should be able to tell you, but I got to tell you, my six-year-old, Netflix has a lot of work to do. She’s all YouTube all the time.
03:42 Ali
YouTube and YouTube is one of the biggest competitors for all of these streaming giants. YouTube is a huge competitor if you think about kids’ content in particular. Disney Plus obviously, uh, probably the winner there, but also Paramount with Nickelodeon. Sesame Street has been on Max, which will soon be rebranded once again to HBO Max, uh, since 2016. So losing out some of that core content there, but Max is rebranding more towards adult content, towards more of the, uh, family content, not as much kid content. So this is just another opportunity for Netflix to take advantage of.
04:35 Speaker A
My kid probably watches a little, it’s a little too much YouTube on the iPad, but
04:40 Ali
Yeah, you know what, I don’t think she’s only kid out there that’s watching YouTube though, so.
04:43 Speaker A
No, not at all, not at all. Ali, thank you, appreciate it.
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JPMorgan CEO Jamie Dimon says the bank will let clients buy bitcoin
JPMorgan CEO Jamie Dimon says the bank will let clients buy bitcoin
JPMorgan Chase CEO Jamie Dimon delivers a speech during the Global Markets Conference, ahead of the Choose France summit, in Paris on May 15, 2025.
Michel Euler | Afp | Getty Images
JPMorgan Chase is finally allowing clients to buy bitcoin. But CEO Jamie Dimon is still a skeptic.
“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients.”
The decision marks a notable step for the largest U.S. bank, particularly due to Dimon’s history of criticizing the digital currency and the crypto market broadly, and is the latest sign of bitcoin’s entry into mainstream investing. Since August, Morgan Stanley has allowed its financial advisors to pitch some spot bitcoin exchange-traded funds to qualifying clients.
Dimon made it clear that his personal view of bitcoin remains unchanged, highlighting issues such as money laundering and the lack of clarity surrounding ownership, along with “the sex trafficking, the terrorism.”
“I don’t think you should smoke, but I defend your right to smoke,” Dimon said. “I defend your right to buy bitcoin.”
The bank is looking at offering clients access to bitcoin ETFs, according to a person briefed on its plans. Until now, the company has limited its crypto exposure primarily to futures-based products, not direct ownership of bitcoin.
When crypto valuations were soaring in 2021, Dimon dismissed bitcoin as “worthless.” He told lawmakers during a Senate hearing in late 2023 that he has “always been deeply opposed to crypto, bitcoin, etc.,” and that, “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance.” He said at the hearing that, “If I was the government, I’d close it down.”
At the 2024 World Economic Forum in Davos, Switzerland, Dimon said, “Bitcoin does nothing. I call it the **** rock.” He added that, “This is the last time I’m talking about this with CNBC, so help me God.”
Read more about tech and crypto from CNBC Pro
Morgan Stanley CEO Ted Pick told CNBC at this year’s event in Davos that the investment bank is exploring ways to deepen its involvement in cryptocurrency markets, navigating the regulatory landscape under the pro-crypto administration of President Donald Trump.
Since Trump took office in January, the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have rescinded their anti-crypto guidance, with the Federal Reserve partially following suit. A notice issued by the Fed in January 2023 continues to restrict banks from certain crypto-related activities. While banks can now custody crypto, thanks to the repeal of an accounting rule called SAB 121, they still face certain limitations on working directly with digital asset firms.
WATCH: Dimon says his tenure is ‘up to the board’
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CBS News President to Depart Amid Network’s Tensions With Trump – The New York Times
CBS News President to Depart Amid Network’s Tensions With Trump – The New York Times
CBS News President to Depart Amid Network’s Tensions With Trump The New York TimesCBS News president steps down amid company’s legal standoff with Trump administration USA TodayParamount ousts CBS News CEO Wendy McMahon amid divide with leadership CNBCCBS News chief steps down amid Trump tension NBC NewsCBS News CEO unexpectedly steps down: ‘It’s become clear that the company and I do not agree on the path forward’ New York Post
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Injustice 3 might be in the works at NetherRealm
Injustice 3 might be in the works at NetherRealm
NetherRealm Studios may very well be working on the next Injustice game, likely titled Injustice 3. This comes after Warner Bros. revealed plans to focus on its big tentpole IPs, alongside live service, as well as a Mortal Kombat 1 Definitive Edition that includes all post-launch content.
MultiverSusie, a Multiversus leaker prior to the game’s eventual shuttering said in a post on social media how it was an injustice for the game to be shuttered… twice. Additionally, in a more light-hearted jokey way, we’re sure, it was also an injustice for them to no longer have any leaks before tacking on a second post simply reading “3.”
It’s worth pointing out, it seems Mortal Kombat 1 is on its last leg only 20 months after release, leaving many fans unhappy as NetherRealm’s Ed Boon promised long-term support. Combine that with the very real struggles WB Games is feeling even a year on after Suicide Squad: Kill the Justice League failed and that back in 2017, Injustice 2 actually sold well and was received well, the company might be eyeing an easy — to it — W by returning to a winning formula.
Of course, this is just a rumor, as neither WB Games or NetherRealm have made any sort of official comment about continuing the DC-centered fighter.
Gabriel Stanford-Reisinger Editor-in-Chief
Gabe has been a gamer since he was young, playing games like Pajama Sam, Freddi Fish, Guitar Hero, and whatever looked cool on GameFly. Ever since 2018, he’s been infatuated with the inner workings of the gaming and entertainment industries, covering a wide range of topics from video games to TV and film. Starting as a contributor for PSX Extreme, he’s worked his way up to its Managing Editor. Using what’s he learned over the years, he founded Smash Jump to remind everyone to smash jump.
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Tomic heads trio of Aussie qualifying hopefuls in Paris
Tomic heads trio of Aussie qualifying hopefuls in Paris
Australia’s 15-strong band of hopefuls in French Open qualifying has been trimmed by a third after the first day at Roland Garros.
Bernard Tomic led three players into the second round, but five lost with seven still to enter the fray.
Jason Kubler and Maddison Inglis also won in Paris as they seek to join the 14 Aussies already guaranteed a place in the main draws. Qualifiers need to win three matches to secure their places.
Tomic, who has not competed in a grand slam main draw match since the 2021 *********** Open, beat Hong Kong’s Coleman Wong 7-6 (7-2) 6-3.
Kubler, who has battled back to 210 in the rankings after missing most of 2024 with injury, scrapped his way past Spain’s Alejandro Moro Canas 6-4 3-6 6-2 and Inglis took little more than an hour to dispense with Iryna Shymanovich 6-1 6-1.
However, two men and three women went out on Monday.
Local wildcard Mathys Erhard beat James Mccabe 6-1 6-1; Alex Bolt lost 4-6 6-4 7-5 to Pablo Llamas Ruiz; Arina Rodionova suffered a 6-2 6-2 defeat to Czech teenager Tereza Valentova; Taylah Preston went down to American veteran Varvara Lepchenko, who at 38 is twice her age, 6-4 7-5 and Priscilla Hon was narrowly beaten by Croatia’s Jana Fett 6-2 4-6 7-6 (12-10) in a draining two hours 45 minutes.
Playing their opening round matches on Tuesday will be Lizette Cabrera, Talia Gibson, Storm Hunter, Astra Sharma, Daria Saville, Li Tu and Omar Jasika.
Among other matches in qualifying former world No.4 and 2019 US Open winner Bianca Andreescu of Canada beat China’s Xinxin Yao 6-0 6-0.
Elsewhere, Daria Kasatkina’s preparation for Paris were upset when she lost 6-1 6-3 to former US Open champ Emma Raducanu in the first round in Strasbourg.
The world No.17, who had won her three previous matches against the British wildcard, saved three match points before succumbing.
But Ajla Tomljanovic gained an encouraging win in Morocco, beating fifth-seed Viktoriya Tomova 7-5 4-6 6-3.
AUSTRALIANS ALREADY IN THE FRENCH OPEN MAIN DRAW:
Men: Alex de Minaur (seed), Alexei Popyrin (seed), Jordan Thompson, Aleksandar Vukic, Rinky Hijikata, Adam Walton, Chris O’Connell, James Duckworth, Tristan Scholkate (wildcard).
Women: Daria Kasatkina (seed), Kim Birrell, Olivia Gadecki, Maya Joint, Ajla Tomljanovic, Destanee Aiava (wildcard).
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What Is NV Link Fusion? New AI Tech Allows Seamless Fusion With Non-NVIDIA Hardware
What Is NV Link Fusion? New AI Tech Allows Seamless Fusion With Non-NVIDIA Hardware
Nvidia has been releasing state-of-the-art GPU technology that goes beyond gaming. In recent times, the company has been focused on making technical breakthroughs in AI and dominating the market with all the new features it is developing.
One such feature, the NV Link Fusion, was unveiled at Computex 2025. Does it have anything to do with gaming? Not really. It’s more of a server geeky thing, but it could be interesting for gaming if Nvidia chooses to let competitors into the ecosystem.
So, the RTX 5000 series didn’t receive a new gaming feature called NV Link Fusion?
Don’t think Nvidia is only a GPU manufacturer that cares about gaming and studio work. Rather, most of its business is based on server computing and selling chips that support those businesses. To step up and make its mark in the market, Nvidia brought a new concept.
Nvidia Link Fusion is what Nvidia is calling this technology. This feature will allow Nvidia to integrate itself with custom chip makers. Don’t think Nvidia has brought in Broadcom, AMD, or Intel into the list. It’s all about supporting their largest customers who are into cloud computing, including Google, Amazon, and Microsoft.
Explaining what it means to Nvidia for bringing this tech requires some analytical knowledge. Ray Wang would be a good reference, as he is a well-known semiconductor analyst who recently shared a few words on it.
If widely adopted, NVLink Fusion could broaden NVIDIA’s industry footprint by fostering deeper collaboration with custom CPU developers and ASIC designers in building the AI infrastructure of the future.
In layman’s terms, it is Nvidia’s way of seeking business beyond AI and curbing the businesses of other emerging architectures. This leap can help them stay in the AI business in the long run before anyone else comes up with better solutions.
Cut the boring talks, does it have anything to do with gaming?
To be fair, gaming has been sidelined by Nvidia for quite some time now. If people haven’t noticed, the most recent 5000 series GPUs are almost similar in performance compared to the last generation. The only thing that gives it an edge is AI features, which aren’t as impressive.
Furthermore, Nvidia has been dominating the GPU market for quite some time now. AMD still struggles to catch up, which is causing Nvidia not to care and do whatever it pleases. This is why competition is required in every industry as companies push each other.
The NV Link Fusion can be used in gaming, though—handheld gaming, to be precise. In terms of portable gaming, there are two widely known chip makers: Qualcomm and AMD. Now, AMD is Nvidia’s nemesis; they won’t want to partner up to secure the business.
If you aren’t aware, AMD has been making custom gaming chips for Xbox and PlayStation. There are already speculations that the next Xbox console may be using an ARM-based processor, which Qualcomm uses. If Nvidia makes this move in the gaming market, it could hamper AMD’s gaming business a lot.
With NV Link Fusion, it’s more like an open letter to Qualcomm for proceeding to make handheld consoles. Since Qualcomm can use Nvidia hardware to boost its performance capabilities. As a result, hindering AMD’s business as a result.
Do you think Nvidia has plans to curb AMD’s presence in console console-making business? Should Nvidia be a ******* person and shake hands with other brands to make the gaming community better? Let us know in the comments below.
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Republicans Are Rejoicing as They Gut a Bill That Benefits Red States
Republicans Are Rejoicing as They Gut a Bill That Benefits Red States
Republicans have described the “big, beautiful” megabill they’re currently attempting to pass as a way to end “Green New Deal–style waste” and “limit government spending to what actually helps Americans,” according to Brett Guthrie, the House Energy and Commerce Committee chair. The House’s Ways and Means Committee put its plans to ax the Inflation Reduction Act’s climate and energy programs under the heading “Working Families Over Elites.” The class warfare–style language is familiar. Over the last several years, the right has reliably leveraged its faux populism against Biden’s climate and energy measures: Tax cuts for the rich are “pro-growth, pro-family, and pro-America,” while the Inflation Reduction Act, or IRA, is “corporate ******** for progressive special interests.”
They’re lying about the content of their megabill, and they’re plain wrong that climate and energy spending benefits only the wealthy. The most bizarre thing about the GOP’s war on alleged climate elites getting rich off the IRA, however, is that the main beneficiaries of Joe Biden’s trademark legislative achievement have actually been Republicans. Nearly three-quarters of investments spurred on by that bill have flowed to states that voted to make Trump president; two-thirds of those funds have come in the form of private-sector investments incentivized by the Inflation Reduction Act’s tax breaks for zero-carbon energy, advanced manufacturing, and more. This week, as House Republicans decide how quickly and thoroughly to dismantle the so-called “green new scam,” the results will signal how committed GOP politicians are to snatching from their own constituents.
Top Republicans seem to have wagered that talking points about ending “handouts to Democrats’ climate activist cronies,” as Guthrie put it, could unite the caucus—and, importantly, inspire them to pass the bill quickly. Repealing the IRA—a rallying cry within the GOP—would serve as cover for huge and deeply unpopular cuts to Medicaid and other programs. Some Republicans have said they want to preserve IRA funds that have helped court billions of dollars’ worth of investments to their district. Others have argued that those cuts should go much further.
On Friday, the House Budget Committee voted against advancing the party’s tax-and-spend proposal. Republican hard-liners were demanding that even steeper cuts be made across the board before they were ready to vote for it, cuts that included a fuller, more immediate rollback of the Inflation Reduction Act. Late Sunday night, that bloc eventually relented, voting “present” so that the package could move forward. Still, the group signaled that they’d continue fighting to extract more concessions. It’s not clear exactly what those lawmakers got out of this weekend’s deal or what else they’ll demand, but Republicans appear poised to deal an even more critical hit to IRA incentives than those they’d proposed last week.
The original package would eliminate most of the Inflation Reduction Act’s $7,500 tax credit to purchase certain electric vehicles at the end of this year and phase out incentives for wind, solar, nuclear, and geothermal power years ahead of schedule. A preliminary analysis from the Rhodium Group projects that the Working Families Over Elites proposal could raise household energy costs by as much as 7 percent in 2035. Repealing the Inflation Reduction Act also stands to put at risk $388 billion worth of investments in Republican-controlled House districts, as investors wary of Trump’s tariff chaos, a potential recession, and the prospective end of IRA tax incentives continue to walk away from previously announced projects. Republicans have tried to suggest otherwise, but much of the $880 billion in cuts the Energy and Commerce Committee hopes to extract would come out of Medicaid. As of last week, the Congressional Budget Office estimated that the GOP’s proposed Medicaid cuts would ***** $625 billion out of that program.
The overarching aim of the bill is to extend the tax cuts Republicans passed in 2017, which expire this year and inordinately benefit the wealthy. They’d also like to expand those cuts, create new ones, and fund a host of other GOP priorities. Among those is $150 billion of new defense spending, including tens of billions of dollars for military contractors like SpaceX, which is run by the richest man on earth. In order to offset the cost of doing all that, the GOP wants to kick more than 10 million poor and disabled people off Medicaid and leave 7.6 million people uninsured, adding work requirements and making it easier for states to cancel coverage. Republican changes to the Supplemental Nutrition Assistance Program—including the addition of work requirements—could kick millions of people off that program as well, making it much more difficult for them to eat.
Despite some Republicans’ objections to entirely dismantling the IRA, it’s not clear that it would be a red line for any of them in negotiations. In other words, it’s likely that so-called moderates who are ostensibly pro-IRA would be willing to sacrifice the law in order to ward off steeper cuts to Medicaid or win a larger state and local tax deduction.
It remains to be seen what’s been axed already and what will be on the chopping block this week. Chip Roy—a key holdout on the Budget Committee—wrote on social media that the bill will now “move Medicaid work requirements forward” and reduce “the availability of future subsidies under the green new scam.” He’s also complained specifically that his district has experienced a wave of investment as a result of the IRA. The package presented last week, he ranted, would have failed to stop the “devastatingly bad projects being implemented in my district” and even cause a “race to construction” as developers attempt to scoop up IRA funds before they expire.
Roy’s approach speaks to a broader derangement within the Republican Party. Decades of industry funding for climate denial have congealed into a GOP whose members don’t just hate anything called climate policy but actively oppose any green-tinted private-sector investment in their districts. That’s a problem for the planet, and, increasingly, for Republicans, as they struggle to manage a coalition that’s become unmoored from reality and the material interests of its donors and constituents. Whatever big, beautiful budget they eventually produce will be a disaster. And while attacks on the “green new scam” target Democrats, a decision to go even more nuclear against the IRA stands to hurt their own voters much more.
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Sources: 49ers make Warner NFL's top-paid LB – ESPN
Sources: 49ers make Warner NFL's top-paid LB – ESPN
Sources: 49ers make Warner NFL’s top-paid LB ESPNNiners, LB Fred Warner agree to terms on three-year, $63 million contract extension NFL.comReport: 49ers, Fred Warner very close to finalizing a contract extension NBC Sports49ers make All-Pro Fred Warner the NFL’s highest-paid linebacker The Mercury News49ers, Fred Warner agree to $63 million extension: Four-time All-Pro pick becomes NFL’s highest-paid LB CBS Sports
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Russia and Ukraine to ‘immediately’ start ceasefire talks, says Trump
Russia and Ukraine to ‘immediately’ start ceasefire talks, says Trump
US President Donald Trump says Russia and Ukraine will “immediately” start negotiating towards a ceasefire and an end to the war after a two-hour phone call with Russian counterpart Vladimir Putin.
Trump, who described the conversation as having gone “very well”, also said conditions for peace would need to be negotiated between the two parties.
Putin said he was ready to work with Ukraine on a “memorandum on a possible future peace agreement”, but did not address demands from the US and European countries for an unconditional 30-day ceasefire.
Trump also spoke with Ukrainian President Volodymyr Zelensky, who said “this is a defining moment”, and urged the US not to distance itself from talks.
After his one-on-one call with Trump, Zelensky reaffirmed Ukraine’s desire for a “full and unconditional ceasefire”, and warned if Moscow is not ready, “there must be stronger sanctions”.
Speaking earlier before Trump’s conversation with Putin, Zelensky said he had asked that any decisions about Ukraine were not made without his country, calling them “matters of principles” for Ukraine.
He added he did not have any details on a “memorandum” but said once they have received anything from the Russians, they will “be able to formulate their vision accordingly”.
Writing on his Truth Social page after the call, Trump said: “Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War,” adding he had informed Zelensky of this in a second call, which also included other world leaders.
He added: “The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of.”
Zelensky said the negotiation process “must involve both American and European representatives at the appropriate level”.
“It is crucial for all of us that the United States does not distance itself from the talks and the pursuit of peace, because the only one who benefits from that is Putin,” he explained.
The US president has repeatedly vowed to end the war and has grown increasingly frustrated that it is ongoing months into his second term.
Meanwhile, Putin – who described the call with Trump, which he took from a music school on a visit to the city of Sochi, as “frank, informative and constructive” – also spoke of the potential for a ceasefire.
“We have agreed with the US president that Russia will offer and is ready to work with Ukraine on a memorandum on a possible future peace agreement,” he said.
This, he added would define “a number of positions” including “principles of the settlement and a timeline for concluding a possible peace agreement…including a possible ceasefire for a certain ******* of time, should relevant agreements be reached”.
Yury Ushakov, an aide to the Russian president, said a ceasefire timeframe was not “discussed… although Trump, of course, emphasises his interest in reaching one or another agreement as soon as possible”.
Zelensky held a second call with Trump after the US president spoke to Putin, which also included President of the European Commission Ursula von der Leyen, and the leaders of France, Italy, Germany and Finland.
“I want to thank President Trump for his tireless efforts to bring a ceasefire to Ukraine,” von der Leyen said, adding: “It’s important that the US stays engaged.”
Italian Prime Minister Giorgia Meloni said Pope Leo’s offer to host potential peace talks was a gesture welcomed by the US and the other leaders in the call, and “judged positively”.
Earlier this month, the new Pope offered the ******** as a venue for possible peace talks after Putin turned down Zelensky’s offer to meet face-to-face in Turkey for negotiations.
Kyiv has previously said Putin’s comments saying he desires peace are hollow.
“Putin wants war,” Andriy Yermak, a top aide to the Ukrainian president, said after Russia on Sunday launched what Ukraine said was its biggest drone attack since the full-scale invasion began in 2022.
Ukraine says at least 10 people have been killed in Russian strikes in recent days – including nine people in an attack on a civilian minibus in north-eastern Ukraine. Russia says it has also intercepted Ukrainian drones.
The strike on the bus happened just hours after Russia and Ukraine held their first face-to-face talks in more than three years. A prisoner swap was agreed but there was no commitment to a ceasefire.
Trump had offered to attend the talks in Turkey if Putin would also be there, but the Russian president declined to go.
Russia has declared ceasefires before – but only temporary ones. It declared one for 8-11 May – which coincided with victory celebrations to mark the end of World War Two – but Kyiv would not sign up to it, saying Putin could not be trusted and that an immediate 30-day ceasefire was needed.
The Kremlin announced a similar, 30-hour truce over Easter, but while both sides reported a dip in fighting, they accused each other of hundreds of violations.
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This Interactive Lilo & Stitch Plush Can Speak And Make Facial Expressions
This Interactive Lilo & Stitch Plush Can Speak And Make Facial Expressions
The live-action version of Disney’s Lilo & Stitch hits theaters on Friday, May 23, and early reviews are calling it an emotional reimagining of the iconic 2002 film. Like most Disney films, this one is accompanied by heaps of merchandise and collectibles–but the Interactive Stitch Plush is one of the most adorable. Featuring a bunch of interactive elements and a charming design, it’s a fun way to bring the little blue extraterrestrial into your home.
$40
The Stitch Interactive Plush stands 14 inches tall and is packed with over 50 sounds and phrases inspired by the film. These will trigger when you perform actions like rubbing his head or wiggling him around–and his LED eyes will change expressions based on his reaction. It’s also made from ultra-soft materials, making the Interactive Plush a unique and adorable companion for any young fan of Lilo & Stitch.
To get a glimpse of all its interactive elements, check out this short video highlighting its coolest features.
Looking for a more standard plush without the extra interactive elements? The Disney Stitch Plush is available for $20. It also stands 14 inches tall and is made from ultra-soft materials, and it’s a great alternative to the $40 plush above.
A bunch of other Lilo & Stitch merchandise is also available, including Lego figures of Stitch and Angel featuring articulated joints and accessories, and the Lego Lilo & Stitch Beach House playset that includes minifigures for Lilo, Stitch, Nani, David, and Mr. Bubbles. There’s also a hilarious Bop It: Lilo & Stitch Edition, which has you twisting and bopping Stitch’s arm, hands, and head. It’s not new, but it’s currently on ***** for $14.88 (was $27). Check the list below for even more Lilo and Stitch collectibles, or browse the entire Disney Lilo and Stitch collection at Walmart.
More Lilo & Stitch Collectibles
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Man shot dead in home at Condell Park, Sydney
Man shot dead in home at Condell Park, Sydney
A man has been killed in a shooting in Sydney’s southwest overnight.
Police were called to a home on Dalton St in Condell Park about 10.30pm on Monday, after reports a man had been shot.
The man, aged in his 20s, was found by police with a gunshot wound.
Camera IconA man has died after being shot in Sydney’s southwest. Google Maps Credit: Supplied
Paramedics treated the man at the scene but he could not be revived and was declared dead.
“A crime scene has been established, which will be examined by specialist forensic police,” a NSW Police statement read.
Friends and family were at the scene being held back by police as they combed through the scene, Today reports.
Police were called to Blackford St in Fairfield East a short time later, after reports a car had been torched.
The car was “well alight” by the time emergency crews arrived.
The flames were soon extinguished but the car was destroyed.
“There were no reports of injuries, and the fire is being treated as suspicious,” a police statement read.
Police are investigating whether the two incidents are linked.
Anyone with information, dashcam or CCTV footage is urged to contact Crime Stoppers on 1800 333 000.
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Fortnite’s Darth Jar Jar Skin Requires You To Grind Before You Can Buy It
Fortnite’s Darth Jar Jar Skin Requires You To Grind Before You Can Buy It
Fortnite is in the middle of a Star Wars season, which has boasted a rapidly growing roster of heroes and villains from the sci-fi classic. However, one of the newest outfits is notably weird even by Fortnite standards: You can now play as Darth Jar Jar, but you’ll need to grind a lot of XP to be able to buy the skin.
In a recent blog post, developer Epic Games announced a number of accessories for evil Jar Jar that are now available to purchase. These include a wrap, a pickaxe, a back bling, and the full outfit. However, these specific items are locked behind XP benchmarks, which players can earn in any Fortnite mode. To unlock the ability to buy all of the items, you’ll need to amass 1,280,000 XP. Depending on how committed to grinding out XP you are and the modes you play, this will likely take at least several hours of gameplay to earn.
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In addition, once you hit these XP benchmarks, you’ll still have to shell out V-Bucks. In total, the Darth Jar Jar item set costs 3,200 V-Bucks (roughly $26); if you just want the outfit, that costs 1,500 V-Bucks (roughly $13).
You can play as either normal or evil Jar Jar Binks.
This isn’t the first time that Fortnite has locked item purchases behind XP gates, but it’s pretty rare in the history of the game. Epic’s decision to implement benchmarks like this during the Star Wars event has sparked frustration among many fans.
Fortnite’s Star Wars season has brought with it many other changes and additions. Among these is an AI Darth Vader that you can activate and have follow you around. Most notably, it is powered by a chatbot that will respond to whatever you ask of it in a generated facsimile of the voice of the late James Earl Jones.
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Putin Dumps Cold Water Over Trump’s Celebration of Their Phone Call
Putin Dumps Cold Water Over Trump’s Celebration of Their Phone Call
After getting off the phone with one another, President Trump told the world that Russian President Vladimir Putin would “immediately” start negotiating a ceasefire with Ukraine. Putin told a completely different story.
“The U.S. president expressed his position regarding a cessation of hostilities and a ceasefire, and also acknowledged that Russia likewise favors a peaceful settlement of the Ukrainian crisis. We simply need to identify the most effective paths toward peace,” Putin said after the meeting, refusing to publicly commit to a ceasefire.
“We agreed with the U.S. president that Russia will propose and is ready to work with the Ukrainian side on a memorandum concerning a possible future peace treaty. This would outline several provisions, including a framework for resolution, the timeline for potentially concluding a peace agreement, and other relevant details, such as the possibility of a temporary ceasefire if corresponding agreements are reached.”
“At the same time, I want to emphasize that, overall, Russia’s position is clear,” Putin said after the call. “Our main objective is to eliminate the root causes of this crisis.”
From Trump’s angle, this looks like a kumbaya moment attached to a lavish deal.
“There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth. Its potential is UNLIMITED,” Trump wrote on Truth Social after the call. “Likewise, Ukraine can be a great beneficiary on Trade, in the process of rebuilding its Country. Negotiations between Russia and Ukraine will begin immediately.”
X screenshot of Donald Trump sharing his statement on Truth Social: ust completed my two hour call with President Vladimir Putin of Russia. I believe it went very well. Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War. The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of. The tone and spirit of the conversation were excellent. If it wasn’t, I would say so now, rather than later. Russia wants to do largescale TRADE with the United States when this catastrophic “bloodbath” is over, and I agree. There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth. Its potential is UNLIMITED. Likewise, Ukraine can be a great beneficiary on Trade, in the process of rebuilding its Country. Negotiations between Russia and Ukraine will begin immediately. I have so informed President Volodymyr Zelenskyy, of Ukraine, Ursula von der Leyen, President of the European Commission, President Emmanuel Macron, of France, Prime Minister Giorgia Meloni, of Italy, Chancellor Friedrich Merz, of Germany, and President Alexander Stubb, of Finland, during a call with me, immediately after the call with President Putin. The ********, as represented by the Pope, has stated that it would be very interested in hosting the negotiations. Let the process begin!
Trump has given the Kremlin a financial out, allowing them to back Ukraine farther into a corner with no commitment to any sort of deal—or even negotiations for a deal—and no accountability. And while these ceasefire talks fall flat, the Kremlin launched its largest drone attack on Ukraine to date, killing 11 people over the weekend.
Putin’s statement does not instill confidence in a Russian ceasefire. So much for ending the war on day one.
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GOP bill could add trillions to the U.S. deficit, some experts say. Here’s what to know.
GOP bill could add trillions to the U.S. deficit, some experts say. Here’s what to know.
The Republican-backed tax and spending bill that’s now moving forward in the House is getting a reality check from Wall Street. That’s because the proposed tax breaks are projected to far outstrip any savings in the bill, potentially leading to mounting U.S. debt and a worsening fiscal outlook, according to economists and policy experts.
If the bill moves forward without significant changes, the U.S. would likely find its debt levels spiraling higher in order to finance the tax cuts, according to several analyses. Over the next decade, the GOP bill could cost the U.S. $3.8 trillion, according to a report earlier this month by the Joint Committee on Taxation that examined the impact of the the tax measures versus spending cuts.
Those risks are rattling Wall Street. Moody’s Ratings on Friday downgraded the nation’s debt, citing the potential for the new bill to add $4 trillion to the federal primary deficit, which excludes interest payments, over the next decade.
The bill also faces detractors within the Republican party, with the House Freedom Caucus saying in a social media post on Sunday that the bill “fails to actually honor our promise to significantly correct the spending trajectory of the federal government and lead our nation towards a balanced budget.”
The concern, according to both Wall Street economists and policy experts, is that adding billions in debt to the U.S. ledger could eventually squeeze federal spending because the nation would likely face higher interest payments. That, in turn, could make it more difficult to fund programs like Social Security, which is already facing a financial drawdown as baby boomers hit retirement age, or to invest in initiatives like infrastructure that can spur economic growth.
“It’s time for policymakers to hit pause, go back to the drawing board and put forward a plan that actually takes steps toward putting our nation on a sustainable fiscal trajectory,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a public policy think tank, in an email.
She added, “Our federal interest payments are skyrocketing, already surpassing what we spend annually on defense or Medicare.”
The Trump administration said it disagreed both with the Moody’s analysis and forecasts that the legislation could widen the nation’s deficit, which is the gap between federal spending and revenue.
“This bill does not add to the deficit,” White House spokeswoman Karoline Leavitt said Monday in a press conference. “In fact, according to the Council of Economic Advisers, there’s $1.6 trillion worth of savings in this bill — that’s the largest saving for any legislation that has ever passed Capitol Hill in our nation’s history.”
Savings versus spending
At the heart of the proposed GOP bill is President Trump’s vow to renew his 2017 Tax Cuts and Jobs Act, which introduced lower tax brackets for many Americans. Because those provisions are set to expire at the end of 2025, about 6 in 10 filers would face a tax increase in 2026 without an extension of the law, according to an analysis from the nonpartisan Tax Foundation.
The Council of Economic Advisers, a White House agency that advises the president on economic issues, said in a May study that the new bill would “avert a $4 trillion tax hike” by extending the TCJA’s provisions.
Renewing the law’s cuts alone would cost $2.2 trillion over the next decade, estimates Joint Committee on Taxation, which assesses the impact of policy for Congress. The GOP bill also includes other new tax breaks that would add to the bill’s long-term costs, the group’s analysis found.
For instance, the bill’s proposal to provide taxpayers with a more generous standard deduction would result in $1.3 trillion in lost revenue over the next decade, the Joint Committee found. Eliminating taxes on workers’ overtime pay and tips, as well as giving a ******* deduction to senior citizens, would cost an additional $234 billion over the same *******, its analysis finds.
The bill does include spending cuts, but they aren’t large enough to offset the tax breaks, several recent analyses conclude. The nonpartisan Bipartisan Policy Center estimatedin a May 14 analysis that the tax cuts would cost $7.7 trillion over the next decade, while the spending cuts would offset $3.9 trillion over the same *******. The result is a gap of $3.8 trillion, it said.
That’s the arithmetic that prompted Moody’s to cut its rating on U.S. debt, from its top rating of Aaa to Aa1. In its assessment, the credit rating agency noted that the U.S. deficit has spiraled higher as previous administrations and Congress have “failed to agree on measures to reverse the trend.”
“Over the next decade, we expect larger deficits as entitlement spending rises while government revenue remains broadly flat,” Moody’s said on Friday when it became the third major rating agency to cut the nation’s credit rating. “In turn, persistent, large fiscal deficits will drive the government’s debt and interest burden higher.”
It added, “The U.S.’ fiscal performance is likely to deteriorate relative to its own past and compared to other highly rated sovereigns.”
The Trump administration says that the proposed tax bill will spur economic growth by lowering taxes on consumers and businesses. In an interview on Monday with Fox Business, National Economic Council director Kevin Hassett said the economy is “going to continue to take off once those policies are actually in place, once we actually have the tax cuts passed.”
Who wins and loses
The GOP tax bill remains in flux and is likely to change as it winds through the House.
House Speaker Mike Johnson acknowledged there are still details to “iron out” as conservative Republicans seek to quickly enact work requirements for able-bodied participants in Medicaid. Those rules would take effect in 2029 under the bill passed last week by the Ways and Means Committee. Some House Republicans also want to more quickly end tax breaks for green energy projects being used nationwide.
If the bill passes the House this week, it would then move to the Senate, where Republicans are also eyeing changes.
Democrats have decried the cuts Republicans are proposing to Medicaid and food stamps to offset the costs of the tax breaks, pointing out that the reductions in social safety net programs comes as many wealthy taxpayers would get a big tax break.
“This spending bill is terrible, and I think the American people know that,” Rep. Jim Clyburn, a Democrat from South Carolina, told CNN’s “State of the Union″ on Sunday. “There is nothing wrong with us bringing the government in balance. But there is a problem when that balance comes on the back of working men and women. And that’s what is happening here.”
The lowest-income Americans would end up paying more under the proposed GOP bill, according to a May 19 analysis from the Penn Wharton Budget Model, a University of Pennsylvania group that studies the fiscal impact of public policies. Even including savings from tax cuts, the bottom 20%, who earn up to $17,000 per year, would take a $1,035 hit in 2026 after the reductions in Medicaid and other programs are factored in.
“[H]ouseholds most affected by the cuts to Medicaid and SNAP — those in the bottom income quintile — experience the largest losses under this bill, averaging $28,000 in lifetime value for the working-age population,” the Penn Wharton Budget model calculated. “In contrast, working-age households in the top income quintile generally benefit from lower taxes, gaining an average of $30,000.”
Aimee Picchi
Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
The Associated Press
contributed to this report.
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