Advertisements



Biden, Harris, AOC, Zuckerberg, and Freeman permanently banned from Russia, but Trump is not on the list

Russia's updated list of sanctions is a response to US support for Ukraine and the sanctions imposed on Russia following Putin's invasion. Russia targeted American politicians, business leaders and actors in its updated sanctions list.Getty Images Russia issues new list of sanctions targeting US citizens including a ban on entering the country. President Joe Biden and Vice-President Kamala Harris are among those on the list. Rep. Alexandria Ocasio-Cortez and Facebook's Mark Zuckerberg are also targeted by the new sanctions. Russia has drawn a new list of sanctions permanently banning 963 Americans from entering the country, including President Joe Biden and Vice-President Kamala Harris. On Saturday, the Russian foreign ministry released the updated list of sanctions targeting a number of individuals in response to US support for Ukraine and the sanctions imposed on Russia following Putin's invasion.Biden administration members, Republications, tech executives, journalists, regular US citizens, actor Morgan Freeman and even lawmakers who have died are among those named on the list.In a news release, the foreign ministry said: "Russia does not seek confrontation and is open to honest, mutually respectful dialogue, separating the American people, who are always respected by us, from the US authorities, who incite Russophobia, and those who serve them," adding "it is these people who are included in the Russian 'black list'."Insider contacted the White House for comment.While the list includes many members of Congress, including House Speaker Nancy Pelosi, Senate majority leader Charles Schumer, and House minority leader Kevin McCarthy, Donald Trump was not mentioned. However, the former Secretary of State, Mike Pompeo, was included. The updated list of sanctioned individuals from Russia comes at the time when the Senate passed a new aid package measure of $40 billion, providing Ukraine with new military and humanitarian assistance. Democrat Rep. Alexandria Ocasio-Cortez of New York is listed as a sanctioned individual, alongside Ilhan Omar, and Ayanna Pressley. Rep. Lori Trahan, who also appears on the list, tweeted on Saturday: "If Vladimir Putin thinks permanently banning me from Russia is going to change my support for Ukraine, I've got bad news for him. It's not. The United States stands with Ukraine."Meta's CEO, Mark Zuckerberg, and Microsoft's president, Brad Smith, were also added to the list.Other individuals include journalists David Ignatius of The Washington Post, George Stephanopoulos of ABC News, Susan Glasser of The New Yorker, Bret Stephens of The New York Times and Bianna Golodryga of CNN. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 22nd, 2022

Trump Marks Return To Social Media With Infamous Phrase

Trump Marks Return To Social Media With Infamous Phrase Authored by Gabrielle Stephenson via The Epoch Times (emphasis ours), Former President Donald Trump has posted on his Truth Social account signaling his return to social media. An image of former President Donald Trump next to a phone screen that is displaying the Truth Social app in Washington, on Feb. 21, 2022. (Stefani Reynolds/AFP via Getty Images) “I’M BACK! #COVFEFE,” Trump wrote on the platform, which he founded and is owned by Trump Media & Technology Group. In the same post, he also shared a photo of himself appearing to use a phone while standing in front of his Mar-a-Lago Club in Palm Beach, Florida. Screengrab of the first @realDonaldTrump post on TRUTH Social. (The Epoch Times) It comes after Trump said in February that people should “get ready” and your favorite president will see you soon!” The hashtag “covfefe” refers to a mysterious term Trump first posted in May 2017 on Twitter that said, “Despite the negative press covfefe.” It received over 122,000 shares and 155,000 likes before being deleted. Trump never corrected the spelling of “covfefe” nor explained what the term meant, and even wrote the next day, “Who can figure out the true meaning of “covfefe” ??? Enjoy!” The mysterious term remains open to interpretation. Trump’s first Truth Social post comes after Twitter announced on April 25 that its board accepted Elon Musk’s offer to purchase the company and make it private in an offer valued at about $44 billion. The former president told Fox News on Monday he would not come back to Twitter and would stay on his own Truth Social platform going forward. The company’s CEO is former Rep. Devin Nunes (R-Calif.). Truth Social was launched on President’s Day Feb. 21, 2022, on Apple’s App Store. After over a million users spent weeks on a waitlist, the app switched to Rumble’s cloud services on April 22 in a move the company said would enable it to “scale significantly.” Days later, on April 26, the Truth Social app rose to No. 1 on the Apple App Store downloads list. An Android app for Truth Social is “coming soon” to the Google Play Store, according to the company. A person checks the app store on a smartphone for “Truth Social”—owned by Trump Media & Technology Group—with its website on a computer screen in the background, in Los Angeles, Oct. 20, 2021. (Chris Delmas/AFP via Getty Images) Twitter banned Trump’s account, as well as his campaign’s account, while he was still president in 2021, two days after the Jan. 6, 2021, breach of the U.S. Capitol building. Twitter said it permanently banned Trump’s account “due to the risk of further incitement of violence,” citing two posts he made in the aftermath of Jan. 6. The two posts did not allude to or directly call for any violence, but Twitter said that they were “highly likely to encourage and inspire people to replicate the criminal acts that took place at the U.S. Capitol on January 6, 2021.” Trump had called for peace at the U.S. Capitol on Jan. 6, and told Capitol protesters to leave the area. Facebook also banned Trump later. The company put the ban effective for two years after its independent court ruled that having an “indefinite” suspension from the platform was not permissible. Tyler Durden Fri, 04/29/2022 - 11:55.....»»

Category: dealsSource: nytApr 29th, 2022

What Elon Musk’s Purchase of Twitter Could Mean for Donald Trump’s Account

Hours after Elon Musk bought Twitter, conservative Fox News host Tucker Carlson returned to the platform following a suspension for “hateful conduct” in tweets insisting a transgender senior Administration official was a man. When Twitter reopened Carlson’s account on Monday, the host published a simple tweet: “We’re back.” With Musk calling for more “free speech”… Hours after Elon Musk bought Twitter, conservative Fox News host Tucker Carlson returned to the platform following a suspension for “hateful conduct” in tweets insisting a transgender senior Administration official was a man. When Twitter reopened Carlson’s account on Monday, the host published a simple tweet: “We’re back.” With Musk calling for more “free speech” on Twitter, the next question is, how long before Twitter unlocks Donald Trump’s account as well? Twitter permanently suspended Trump two days after the Jan. 6, 2021 assault on the Capitol building over concerns that Trump’s tweets to his 88 million followers risked “further incitement of violence.” Trump had repeatedly praised his supporters who stormed the Capitol building and peddled lies that the 2020 election had been stolen and Vice President Mike Pence had the power to reverse the legitimate results. At the time, Trump was also suspended from YouTube and Facebook. [time-brightcove not-tgx=”true”] When Trump was banned from Twitter, he resorted to putting out email press releases and trying to launch his own social media platform. Coinciding with his ouster from the Oval Office, Trump largely lost his unique ability to manipulate the news cycle with a single tweet. If Trump is allowed back on Twitter under Musk’s ownership, it would reactivate one of the most powerful accounts the platform has ever hosted. He’d have more ability to dominate the news again, mobilize his followers and detractors alike, and exert significant influence over the midterms and 2024 presidential election—whether or not he runs himself. For his part, Trump told Fox News he didn’t want to get back on Twitter and instead he would be putting out messages on his beleaguered social media platform, TRUTH Social. “I am not going on Twitter, I am going to stay on TRUTH,” Trump told Fox News after Twitter took Musk’s $44 billion leveraged buyout offer to take Twitter private. But Trump may not stick to that promise given the challenges TRUTH Social has had building an audience—and given the power he once wielded on Twitter. Read More: Why Elon Musk’s Plans to ‘Fix’ Twitter Will Be Harder to Implement Than He Thinks As President, Trump used his Twitter account to stoke division, spread misinformation, insult rivals, inform his own government of policy decisions he’d made, pressure prosecutors to punish his political enemies, and berate judges who ruled against his allies. No single person has had as much impact on a social media platform as when Trump was on Twitter, says Leysia Palen, an information science professor at the University of Colorado Boulder. Palen has worked with a team of researchers to study how Trump used Twitter and track the way his tweets would reverberate and touch nearly every way information was consumed on the Internet. Whenever Trump tweeted, he would “thrash” the online discussion around whatever topic he was weighing into, Palen says, because of his large number of followers and the frequency with which he was tweeting. When Trump tweets, “it makes the information world we are leaning on even more unreliable, even more erratic,” Palen says. A Trump Twitter effect could potentially also be seen in upcoming elections, experts say. Unlike other platforms, Twitter gave Trump access to a large part of his base at “any moment, any time, day or night,” says Kathleen Hall Jamieson, director of the Annenberg Public Policy Center at the University of Pennsylvania. If Twitter decides to restore Trump’s full account and his list of followers, Trump would have immediate access to large numbers of people who have already identified themselves as interested in him. That’s very valuable political communications real estate, Jamieson says. “If he wants to intervene on behalf of a candidate he has now endorsed in the midterm elections, being able to reach that number of people with messages supporting those candidates is a way of essentially getting free advertising time to reach people who are more likely to vote as a result of getting a signal from Donald Trump,” Jamieson says. Returning to Twitter could help Trump reconnect with his base, but others argue there could also be a backlash: Trump could further mobilize those who disagree with him. Trump being on Twitter may be a “a gift” for President Joe Biden, “because when Donald Trump tweets, he’s saying things that alienate a lot of people,” says Lauren Wright, a political scientist at Princeton University. Wright says going back on Twitter would give Trump another megaphone, but given how well known he already is, it may bring him only a marginal benefit and could spark more blowback. “He’s continued to say these things that the majority of the American public don’t agree with, so that may not be good for his political support,” she says. Since being kicked off Twitter, Trump’s turned to press releases and rallies to get his message out. He’s blasted investigators looking into his financial dealings and promoted the candidacies of politicians who are willing to parrot his lies about voter fraud costing him the election. He’s also used his presidential title to promote his properties and applauded himself for a hole-in-one on the golf course. Those could be more signs of what may come if Trump decides to tweet again......»»

Category: topSource: timeApr 26th, 2022

Trump"s "TRUTH Social" SPAC Is Now Up Over 400% On The Day

Trump's "TRUTH Social" SPAC Is Now Up Over 400% On The Day Update (1300ET): DWAC just topped $50, meaning it is up over 400% on the day... So far, DWAC has been halted 6 times... How long before Senator Warren demands this be removed from the exchange and that SPACs be immediately banned? Dear CNBC, it won't crush your ratings if you cover this at some point pic.twitter.com/l9IeVDlTaz — zerohedge (@zerohedge) October 21, 2021 *  *  * President Trump is taking advantage of the waning SPAC craze to finally launch the media company that he and members of his circle have been hinting about and teasing since his time in the Oval Office. But fortunately for Fox News, it's not a TV station: it's a social media platform called "TRUTH social". The platform will be owned by Trump Media & Technology Group, a new company which will soon hit the public markets via a merger with the special purpose acquisition company Digital World Acquisition Corp. (ticker: DWAC). The statement announcing the deal said the company could be worth up to $1.7 billion.  A firm that revived the EF Hutton brand, known for television commercials in the 1970s and ’80s touting its sage advice, is acting as the sole financial and capital-markets adviser to DWAC. EF Hutton gained renown with television commercials that featured the tag line, “When EF Hutton talks, people listen.” The firm was embroiled in a bogus-deposit scandal in the mid-’80s that precipitated its eventual sale. The SPAC is now trading up over 150%.. Over 236 million shares have traded hands as of 12:02 p.m. New York time, nearly 10x Digital World’s float, compared to an average full-day volume of 178,000 shares a day since the SPAC went public on Sep. 30 Speaking on his reasoning in launching the network, Trump - who remains banned from Facebook, Instagram and Twitter - said "I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech." He added that presently, "we live in a world where the Taliban has a huge presence on Twitter, yet your favorite American president has been silenced. This is unacceptable." Trump added that the platform is being "founded with a mission to give a voice to all." TMTG is initially valued at $875MM, but according to the statement, but the business and its managers could earn an additional $825MM "earnout" depending on the company's performance. The new combined company will start off with the $293MM from DWAC’s cash in trust that was raised during its initial SPAC offering. Read the full statement below: President Trump sued FB Mark Zuckerberg and Twitter CEO Jack Dorsey after their companies permanently banned President Trump from using them after the events of Jan. 6. Back in March, sources close to Trump said he would be returning to social media with his own platform. While Twitter and Facebook have so far stood by their prohibition on Trump, Twitter CEO Dorsey was recently forced to admit that Twitter "may have crossed a line by blocking a New York Post investigation last year that revealed the potentially corrupt business dealings of Hunter Biden, the son of presidential rival (and now President) Joe Biden. Twitter even went so far as to bar users from sharing the story in direct messages while the mainstream press simply believed the Biden camp's initial claims that a laptop supposedly belonging to Hunter with thousands of incriminating videos, texts and images - revealing everything from shady business deals with CCP-tied Chinese businessmen to smoking crack naked with women who may or may not be prostitutes. Unsurprisingly, Twitter's Dorsey has already tried to delegitimize Trump's new platform by mocking some of the promotional materials on his own platform (where Trump isn't even allowed to speak). i guess @jack is taken pic.twitter.com/Ktz4ODsdpX — jack⚡️ (@jack) October 21, 2021 To be sure, TRUTH Social is not Trump's first foray into independent social media. Back in May, Trump launched a platform sort of resembling Twitter called ‘From the Desk of Donald Trump’. Although RT described it as "effectively just a personal blog which was supposed to allow users to re-post Trump’s musings onto other mainstream platforms." Former Trump spokesman Jason Miller also recently launched "GETTR", a twitter-like social network meant to be the latest in a long line of conservative competitors to Twitter, including Gab and others. But he told Business Insider last night, in a statement that followed the initial launch of Trump's new project, that he and Trump were "unable to agree" on GETTR. But, despite being "for free speech", as Jonathan Turley notes, deep in the Terms of Service is some interesting restrictions: The “Terms of Service” also include a prohibition on the “excessive use of capital letters.” That rule seems a tad odd given the name of the site, which is fifty percent caps: “TRUTH Social.”  Then there is President Trump’s own signature use of all caps writing. However, the loss of all caps communications is hardly a major blow against free speech. What is far more concerning is this specific term for service: PROHIBITED ACTIVITIES You may not access or use the Site for any purpose other than that for which we make the Site available. The Site may not be used in connection with any commercial endeavors except those that are specifically endorsed or approved by us. As a user of the Site, you agree not to: ....disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site. While companies like Twitter have embraced biased and extensive censorship platforms, they do not (directly) censor criticism of their sites. Per the statement, TRUTH Social will launch in beta form later this month with the first users being allowed access off a wait list. The company intends to expand the platform to all users early next year. Tyler Durden Thu, 10/21/2021 - 13:36.....»»

Category: blogSource: zerohedgeOct 21st, 2021

Trump"s "TRUTH Social" SPAC Is Now Up Almost 300% On The Day

Trump's "TRUTH Social" SPAC Is Now Up Almost 300% On The Day Update (1300ET): DWAC just topped $37, meaning it is up almost 300% on the day... So far, DWAC has been halted 5 times... How long before Senator Warren demands this be removed from the exchange and that SPACs be immediately banned? *  *  * President Trump is taking advantage of the waning SPAC craze to finally launch the media company that he and members of his circle have been hinting about and teasing since his time in the Oval Office. But fortunately for Fox News, it's not a TV station: it's a social media platform called "TRUTH social". The platform will be owned by Trump Media & Technology Group, a new company which will soon hit the public markets via a merger with the special purpose acquisition company Digital World Acquisition Corp. (ticker: DWAC). The statement announcing the deal said the company could be worth up to $1.7 billion.  A firm that revived the EF Hutton brand, known for television commercials in the 1970s and ’80s touting its sage advice, is acting as the sole financial and capital-markets adviser to DWAC. EF Hutton gained renown with television commercials that featured the tag line, “When EF Hutton talks, people listen.” The firm was embroiled in a bogus-deposit scandal in the mid-’80s that precipitated its eventual sale. The SPAC is now trading up over 150%.. Over 236 million shares have traded hands as of 12:02 p.m. New York time, nearly 10x Digital World’s float, compared to an average full-day volume of 178,000 shares a day since the SPAC went public on Sep. 30 Speaking on his reasoning in launching the network, Trump - who remains banned from Facebook, Instagram and Twitter - said "I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech." He added that presently, "we live in a world where the Taliban has a huge presence on Twitter, yet your favorite American president has been silenced. This is unacceptable." Trump added that the platform is being "founded with a mission to give a voice to all." TMTG is initially valued at $875MM, but according to the statement, but the business and its managers could earn an additional $825MM "earnout" depending on the company's performance. The new combined company will start off with the $293MM from DWAC’s cash in trust that was raised during its initial SPAC offering. Read the full statement below: President Trump sued FB Mark Zuckerberg and Twitter CEO Jack Dorsey after their companies permanently banned President Trump from using them after the events of Jan. 6. Back in March, sources close to Trump said he would be returning to social media with his own platform. While Twitter and Facebook have so far stood by their prohibition on Trump, Twitter CEO Dorsey was recently forced to admit that Twitter "may have crossed a line by blocking a New York Post investigation last year that revealed the potentially corrupt business dealings of Hunter Biden, the son of presidential rival (and now President) Joe Biden. Twitter even went so far as to bar users from sharing the story in direct messages while the mainstream press simply believed the Biden camp's initial claims that a laptop supposedly belonging to Hunter with thousands of incriminating videos, texts and images - revealing everything from shady business deals with CCP-tied Chinese businessmen to smoking crack naked with women who may or may not be prostitutes. Unsurprisingly, Twitter's Dorsey has already tried to delegitimize Trump's new platform by mocking some of the promotional materials on his own platform (where Trump isn't even allowed to speak). i guess @jack is taken pic.twitter.com/Ktz4ODsdpX — jack⚡️ (@jack) October 21, 2021 To be sure, TRUTH Social is not Trump's first foray into independent social media. Back in May, Trump launched a platform sort of resembling Twitter called ‘From the Desk of Donald Trump’. Although RT described it as "effectively just a personal blog which was supposed to allow users to re-post Trump’s musings onto other mainstream platforms." Former Trump spokesman Jason Miller also recently launched "GETTR", a twitter-like social network meant to be the latest in a long line of conservative competitors to Twitter, including Gab and others. But he told Business Insider last night, in a statement that followed the initial launch of Trump's new project, that he and Trump were "unable to agree" on GETTR. But, despite being "for free speech", as Jonathan Turley notes, deep in the Terms of Service is some interesting restrictions: The “Terms of Service” also include a prohibition on the “excessive use of capital letters.” That rule seems a tad odd given the name of the site, which is fifty percent caps: “TRUTH Social.”  Then there is President Trump’s own signature use of all caps writing. However, the loss of all caps communications is hardly a major blow against free speech. What is far more concerning is this specific term for service: PROHIBITED ACTIVITIES You may not access or use the Site for any purpose other than that for which we make the Site available. The Site may not be used in connection with any commercial endeavors except those that are specifically endorsed or approved by us. As a user of the Site, you agree not to: ....disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site. While companies like Twitter have embraced biased and extensive censorship platforms, they do not (directly) censor criticism of their sites. Per the statement, TRUTH Social will launch in beta form later this month with the first users being allowed access off a wait list. The company intends to expand the platform to all users early next year. Tyler Durden Thu, 10/21/2021 - 13:06.....»»

Category: blogSource: zerohedgeOct 21st, 2021

Trump"s "TRUTH Social" SPAC Doubles Shortly After Start Of Trading

Trump's "TRUTH Social" SPAC Doubles Shortly After Start Of Trading President Trump is taking advantage of the waning SPAC craze to finally launch the media company that he and members of his circle have been hinting about and teasing since his time in the Oval Office. But fortunately for Fox News, it's not a TV station: it's a social media platform called "TRUTH social". The platform will be owned by Trump Media & Technology Group, a new company which will soon hit the public markets via a merger with the special purpose acquisition company Digital World Acquisition Corp. (ticker: DWAC). The statement announcing the deal said the company could be worth up to $1.7 billion.  The SPAC is now trading up around 100%.. Speaking on his reasoning in launching the network, Trump - who remains banned from Facebook, Instagram and Twitter - said "I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech." He added that presently, "we live in a world where the Taliban has a huge presence on Twitter, yet your favorite American president has been silenced. This is unacceptable." Trump added that the platform is being "founded with a mission to give a voice to all." TMTG is initially valued at $875MM, but according to the statement, but the business and its managers could earn an additional $825MM "earnout" depending on the company's performance. The new combined company will start off with the $293MM from DWAC’s cash in trust that was raised during its initial SPAC offering. Read the full statement below: President Trump sued FB Mark Zuckerberg and Twitter CEO Jack Dorsey after their companies permanently banned President Trump from using them after the events of Jan. 6. Back in March, sources close to Trump said he would be returning to social media with his own platform. While Twitter and Facebook have so far stood by their prohibition on Trump, Twitter CEO Dorsey was recently forced to admit that Twitter "may have crossed a line by blocking a New York Post investigation last year that revealed the potentially corrupt business dealings of Hunter Biden, the son of presidential rival (and now President) Joe Biden. Twitter even went so far as to bar users from sharing the story in direct messages while the mainstream press simply believed the Biden camp's initial claims that a laptop supposedly belonging to Hunter with thousands of incriminating videos, texts and images - revealing everything from shady business deals with CCP-tied Chinese businessmen to smoking crack naked with women who may or may not be prostitutes. Unsurprisingly, Twitter's Dorsey has already tried to delegitimize Trump's new platform by mocking some of the promotional materials on his own platform (where Trump isn't even allowed to speak). i guess @jack is taken pic.twitter.com/Ktz4ODsdpX — jack⚡️ (@jack) October 21, 2021 To be sure, TRUTH Social is not Trump's first foray into independent social media. Back in May, Trump launched a platform sort of resembling Twitter called ‘From the Desk of Donald Trump’. Although RT described it as "effectively just a personal blog which was supposed to allow users to re-post Trump’s musings onto other mainstream platforms." Former Trump spokesman Jason Miller also recently launched "GETTR", a twitter-like social network meant to be the latest in a long line of conservative competitors to Twitter, including Gab and others. But he told Business Insider last night, in a statement that followed the initial launch of Trump's new project, that he and Trump were "unable to agree" on GETTR. But, despite being "for free speech", as Jonathan Turley notes, deep in the Terms of Service is some interesting restrictions: The “Terms of Service” also include a prohibition on the “excessive use of capital letters.” That rule seems a tad odd given the name of the site, which is fifty percent caps: “TRUTH Social.”  Then there is President Trump’s own signature use of all caps writing. However, the loss of all caps communications is hardly a major blow against free speech. What is far more concerning is this specific term for service: PROHIBITED ACTIVITIES You may not access or use the Site for any purpose other than that for which we make the Site available. The Site may not be used in connection with any commercial endeavors except those that are specifically endorsed or approved by us. As a user of the Site, you agree not to: ....disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site. While companies like Twitter have embraced biased and extensive censorship platforms, they do not (directly) censor criticism of their sites. Per the statement, TRUTH Social will launch in beta form later this month with the first users being allowed access off a wait list. The company intends to expand the platform to all users early next year. Tyler Durden Thu, 10/21/2021 - 10:52.....»»

Category: blogSource: zerohedgeOct 21st, 2021

Why The West Can"t Ban Bitcoin The Way China Did

Why The West Can't Ban Bitcoin The Way China Did Authored by Mark Jeftovic via BombThrower.com, Only a complete “dictatorship of the proletariat” can kill Bitcoin Evergrande is being called China’s “Lehman moment” and overnight the PBC closed the loop on their clampdown on crypto with a total ban on virtual currency transactions. For those paying attention, however, China isn’t just moving against crypto, they’ve been bringing their entire technology sector to heel. They also stated that it is time to redistribute wealth from the top tier of the nations wealth holders to the rest of the peasant class. This isn’t a return to their Communist roots as much as it is a move of self-preservation against rising internal powers. In the words of my friend Charles Hugh Smith via some correspondence we’ve been having this week “Xi has set out to crush the Network State”. I said in my earlier Network State Primer about the coming tension between Nation States and Network States: the former will go down swinging. The power structures of the nation states won’t go gently into the dustbin of history. They will go down swinging, over a transitional era that may span decades or longer, similar to the centuries long tensions between monarchs and the Papacy that shaped the transition from the Middle Ages into the Renaissance. China has decided to make their last stand of the Nation State, now. Here at this moment in time. They will not bail out Evergrande, they will allow their side of the Everything Bubble to pop, and they will use the economic crash to make a final sweep of consolidation of their power. They will make sure their Big Tech knows who is in charge and that it is not them. Over here in the West, recent regulatory jabs at crypto seem almost enfeebled by comparison. The SEC forcing Coinbase to cancel a program they hadn’t launched yet (so it makes no difference to their bottom line), while bickering with the CFTA over who gets to regulate crypto. The subtext to all this is we shall now see, and be forced to choose, a path forward in the digital networked age: Behind door #1 we keep the nation state format of centralized, top down control and escalating interference into both the economic and private lives of its subjects. Behind door #2 is the coming tension between nation states, network states and crypto-claves that I outlined previously. Neither path will produce a serene and stable gilded age. They will both be chaotic and volatile, Fourth Turning style transitions. The former in the course of implementing then maintaining a totalitarian dictatorship by force. The latter in the interplay and jockeying between three disparate organizational dynamics, each with it’s own centre of gravity (power), source of wealth and interdependencies with the others. China may be able to make option #1 work there, at least for awhile, but would a China style technocratic dictatorship actually fly and sustain in the West? At first glance one may think so. The zeitgeist today seems to be one clamouring for authoritarianism and collectivism. But upon deeper examination this may only be the vocal minority of academia, media pundits and Social Justice Inc. The majority of the population may just be keeping silent out of pragmatism and sheer exhaustion from the never-ending elitist sanctimony and cultural Marxism. But the pushback against COVID authoritarianism, now made acute by forced vaccinations and the ongoing threats of never-ending lockdowns may finally be getting hints of non-compliance through to policy-makers in the West. Australia has officially abandoned their Zero Covid policy and vaccine passport mandates are incurring revolts and in some places are abandoned. What would it take for Western governments to ban crypto, reign in ascendant tech platforms and more permanently abrogate all property rights? Western governments would have to go “Full China” My worry under lockdowns was that Western governments pined for China-style autocracy. And let’s call it for what it is: for a couple years since all this started, they certainly tried it. To varying degrees they continue to cling to the hope that they can remain relevant in a 21st century world using technocratic methods developed out of 20th century industrialism. Most policy makers are still trapped in a mindset learned from an era of assembly lines and cubicles. They think the only difference is it’s now digitized. But the more I started thinking about this the more I realized how unlikely this is in the realms of erstwhile liberal democracies. For one thing, decentralized crypto currencies have already changed the game  in the West in a way where there is no going back. It is estimated that by 2024, there will one billion Bitcoin HODLers, and that makes them a real constituancy. Another reason is that we are at least nominally democracies, with elections. That means our societal fabric has a particular architecture very different from China’s. While elections have become largely ceremonial ratifications of homogenous policy tracks, contested between insular factions within political monocultures, they at least show the overlords where the boundaries of their powers are. Take for example the recent Canadian election, where Justin Trudeau’s gambit to secure a majority failed and he’s stuck with another minority government. The rising right-wing PPC party won no seats, and yet, secured 5% of the popular vote, up from 1.62% in 2019, the year that party formed. They blew out the Green Party at 2.6% and who has been around for 35 years. Their performance caused much pearl clutching from the MSM and there will be more going forward, especially should the incumbent government continue with its post-national, woke, collectivist aspirations. The Chinese peoples have never been free. There’s never been a liberty inspired revolution there, only a cultural (Marxist) one. People in China have no constitutionally guaranteed rights, they aren’t even citizens. They’re subjects. They will take it, at least for now, because they’ve always taken it. As Charles put it in his emails to me, their history is replete with “one bloody purge after another, of someone consolidating power and then unleashing a Cultural Revolution to eliminate rivals, etc. If crashing China’s bubble is the nuclear option, Xi is quite confident he can push the pain level to 11 and most will accept it, those who don’t will enjoy treatment as an honorary Uyghur.” That’s not the case here in the West where there have been at least two revolutions fuelled directly out of an impulse for liberty: The French and the American. Even though the former went off the rails a lot quicker than the latter did, it still happened and it is a stark reminder of where things go when wealth inequality gets so out of whack and the elites become so detached from reality (Charles thinks this is where things are headed in the US, he may not be wrong). For cryptos to be hit with a China-style ban, in their entirety here in the West, governments would have to go Full China, complete with total control over every aspect of every citizen’s life (China just set limits on how much time you’re allowed to spend on Tik Tok, they have social credit systems which meter your alcohol consumption, the list goes on and is getting longer). How long would that last here in the West? Either the citizenry would move straight into the final hyper-normalization phase seen in the Soviet Union before it collapsed (paraphrasing: “They pretend to govern us and we pretend to obey”), or, the pitchforks and torches come out almost immediately. Countries break up. Secessionists abound. At least a few people face some Mussolini moments if not full on Storming of the Bastille and a French Revolution style purging of perceived elites. It would get ugly. I’m not saying this is what would happen if Western governments banned crypto, I’m saying it could happen in response to the kind of dictatorship that would have to be imposed in order to ban crypto. That also doesn’t mean that cryptos can’t go “risk off” (to use Charles’ description) for awhile, even in lieu of a ban. Especially if China allows the economic chips to fall as they may and that ripples across the global economy (perhaps China is unleashing yet another global contagion…. on purpose). The way I see it, the tension in liberal democracies between nation states and network states will be played out through their respective monetary systems. The nation state’s fiat money will be digitized into CBDCs, which will be specifically constructed to preclude wealth formation or savings and almost certainly be the rails of Westernized social credit systems, The network state stable coins (like Facebook’s Diem), which may endeavour to extend the lifespan of fiat currencies and fuse with CBDCs And crypto currencies founded on hard money principles that catalyzed the entire decentralized revolution. These will exist out of default because in the absence of total dictatorship and owing to the demands of optionality, capital pools will have to go here (among other places) out of self-preservation. *  *  * I cover this dynamic extensively in The Crypto Capitalist Letter, a long with a tactical focus on publicly traded crypto stocks. Get the overall investment / macro thesis free when you subscribe to the Bombthrower mailing list, or try the premium service for a month with our fully refundable trial offer. Tyler Durden Fri, 09/24/2021 - 16:40.....»»

Category: blogSource: zerohedgeSep 24th, 2021

Roe v. Wade"s fall is a "turning point" for Chief Justice John Roberts" control over the Supreme Court, court watchers say

The chief justice's power is waning as his five fellow conservatives move the court quickly to the right. Members of the Supreme Court pose for a group photo on April 23, 2021. Chief Justice John Roberts sits in the center.Erin Schaff-Pool/Getty Image The Supreme Court overturned Roe v. Wade. Chief Justice John Roberts sought a middle-ground. The major ruling shows Roberts' influence is waning, court watchers said. "What you're really seeing is that he's no longer the center of the court," one expert said. The Supreme Court's conservative wing eradicated the constitutional right to abortion — and Chief Justice John Roberts could not stop them. Roberts, who favors incremental rather than sweeping changes to the law, sought to weaken Roe v. Wade, the 1973 landmark ruling that legalized abortion nationwide. But the other five conservative justices charged full steam ahead without him, overturning 50 years of precedent and handing abortion decision-making to the states. Political pundits and legal scholars insisted last Friday's ruling, for the case Dobbs v. Jackson Women's Health Organization, revealed that Roberts has lost control over the nation's highest court. Yet Roberts had lost much of his leverage after the court expanded its conservative tilt in 2020, when Justice Amy Coney Barrett replaced the late liberal Justice Ruth Bader Ginsburg.The chief justice, eclipsed by the majority, was powerless as his fellow conservatives overturned Roe, driving the court quickly to the right, court watchers told Insider. Roe's fall presents the most glaring instance yet of the court's conservatives sidestepping Roberts to shape the law on their terms. "We may be at a real turning point in terms of his leadership, in terms of the court as an institution," Carl Tobias, a law professor at the University of Richmond, said.As chief justice, Roberts has tried to persuade members of the court to avoid such polarizing decisions to protect its reputation. Though his desired outcomes were never guaranteed given the court's current strong-willed majority, court watchers said."Bottom line is: he's still the commander of the ship, but the ship has very active people who have their own strong opinions and who outnumber him," Mark Kende, a constitutional law professor at Drake University, told Insider.Court watchers widely believe that Roberts, who has sat on the bench for 17 years, pursued the narrow ruling as part of his longtime goal of defending the Supreme Court's legitimacy. His efforts fell short, and the court's reputation is expected to plunge with Roe's reversal, a reality that's bound to upset the chief justice."What you're really seeing is that he's no longer the center of the court," Sherry Colb, a professor at Cornell Law School, told Insider. "He doesn't like what's happening."Roberts' waning influence Before the Supreme Court's decision, Roberts was reportedly advocating for a middle-ground approach to the monumental case: uphold a Mississippi law in question that banned abortion after 15 weeks of pregnancy and do nothing else. That position would have whittled Roe down, eliminating its roughly 24-week viability standard, but stopped short of completely throwing out federal abortion rights. Roberts needed one justice to join him to prevent the court from overruling Roe, along with a subsequent 1992 abortion decision, Planned Parenthood v. Casey."This is typical of the chief justice," Richard Pierce, a George Washington University law professor, told Insider. "What he is about, more than anything else, is trying to protect the reputation of the court and the culture of the court as a group of people who reason with one another."Roberts could not force any member of the court to rule a certain way. He could only lure them to his side. Yet the rest of the conservative bloc – Justices Samuel Alito, Clarence Thomas, Neil Gorsuch, Brett Kavanaugh and Barrett – bested the chief justice, leaving him on his own."The Court's decision to overrule Roe and Casey is a serious jolt to the legal system—regardless of how you view those cases," Roberts wrote in a concurring opinion. "A narrower decision rejecting the misguided viability line would be markedly less unsettling, and nothing more is needed to decide this case."Supreme Court Chief Justice John Roberts.Julia Nikhinson-Pool/Getty ImagesThe chief justice's colleagues went on to dismiss his thinking and his preference to observe judicial restraint."The concurrence's most fundamental defect is its failure to offer any principled basis for its approach," Alito wrote in the majority opinion. "In sum, the concurrence's quest for a middle way would only put off the day when we would be forced to confront the question we now decide," he continued. "The turmoil wrought by Roe and Casey would be prolonged. It is far better—for this Court and the country—to face up to the real issue without further delay."Just two years ago, Roberts was more likely to hold some sway over the court. He held the pivotal swing vote, maneuvering a series of high-profile decisions on Obamacare, abortion, and other important issues. At the time, Roberts earned a spot on Time Magazine's 100 most influential people list, where retired Justice Anthony Kennedy fondly credited the chief justice's role that "strengthened the court and the rule of law."This was before Barrett joined the bench, creating five conservative votes that could form a majority without Roberts. His swing vote was relinquished."He's moved from being a necessary vote for the conservative bloc to being basically not necessary," I. Glenn Cohen, a professor at Harvard Law School, told Insider. "He's no longer needed for the conservative justices to have their way."The Supreme Court's public standingTo be sure, Roberts, a George W. Bush appointee, is not an abortion-rights supporter. The chief justice aired out his grievances with Roe last Friday. Despite his opposition to the majority's reversal of the landmark ruling, Roberts gave a nod to their "thoughtful and thorough" opinion. "I agree with the Court that the viability line established by Roe and Casey should be discarded," Roberts wrote in his concurring opinion. "That line never made any sense."Roberts' strategy, if it had been adopted, would have substantially eroded Roe's protections and allowed states to restrict abortion. What would have likely been preserved was Roe's core tenet that women do have a constitutional right to get an abortion. Had Roberts had his way, abortion rights would have been chipped away over time, rather than all at once, according to court watchers. The chief justice's "more measured course," as he put it, was mostly a display of his effort to protect the court's independence, they said.Abortion rights activists rally outside the US Supreme Court after the overturning of Roe v. Wade on June 30, 2022.NICHOLAS KAMM/AFP via Getty Images"He's not in favor of Roe. He's not in favor of abortion rights. But he does want the court to at least be perceived as legitimate," Radhika Rao, a professor at the University of California Hastings College of Law, told Insider. "Now the veil of legitimacy has been removed and the country is seeing the court as a partisan, political institution."By upending the status quo, the court's conservatives have undermined Roberts' aim to insulate the institution from partisan politics, Rao added.The Supreme Court's approval ratings reached historic lows even before last Friday's decision dropped. The ruling has ignited a political firestorm in the US that's anticipated to make the court more unpopular. Though Roberts tried to separate himself from the historic move, it will ultimately fall under his legacy, along with the blowback that comes with it, as periods of Supreme Court history are normally labeled under the chief justice's name. "This is the Roberts court, and I'm sure he feels that he wants to leave the court stronger, not weaker, at the end of his tenure," said Keith Werhan, a constitutional law professor at Tulane University. "I suspect that this troubles him greatly."This blockbuster term has ended, but significant questions – including ones dealing with abortion – may soon make their way before the nation's highest court again, continuing to test the chief justice's leadership. "I don't have the sense that he ever gives up," Tobias said. "I just don't think that's in his DNA."Read the original article on Business Insider.....»»

Category: topSource: businessinsider21 hr. 16 min. ago

How to delete a Discord server or transfer ownership to another server member

You can delete a server you own on Discord using the desktop or mobile app. You can also transfer it to another member instead of deleting it. It should only take a minute to delete your Discord server.picture alliance/Getty Images You can delete a Discord server by accessing the "Server Settings" page. You can also transfer ownership to another server member if you don't want the server anymore – you don't need to delete it. Once you delete a server on Discord, it's gone for good and cannot be recovered. If you want to delete a Discord server that you own or created, you're in luck: The process is extremely simple, and can often be completed in less than a minute. If you've enabled two-factor authentication, you'll need to know your six-digit discord delete server auth code in order to get it done. You can find this by opening the Authy or Google Authenticator app on your mobile device.However,  once you delete a server, it's permanently gone, and you won't be able to recover it — so it might be worth trying to transfer ownership to another server member instead. With that in mind, here's how to delete a Discord server or transfer ownership. How to delete a Discord server through the desktop app1. Open Discord on your Mac or PC and go on the server you want to delete.2. Click the down-arrow icon, located in the top-left corner of the screen.Start by expanding the down-arrow in the top-left corner.Stefan Ionescu3. Select Server Settings from the dropdown menu.Open your server's settings page.Stefan Ionescu4. Once the Server Overview opens, click Delete Server located in the bottom left corner of the side menu.Select the "Delete Server" option.Stefan IonescuQuick tip: You can also get to the Server Overview page on Discord by right-clicking the server name on the left side menu and selecting Server Settings > Overview.5. A pop-up will appear. Enter the server name's name exactly (it'll be written at the top of the pop-up) or your six-digit authentication code, if you have two-factor authentication enabled.6. Click Delete Server.How to transfer ownership of a Discord server If you don't want the server anymore, but don't want to delete it, you can also transfer ownership of it to another member on that server.To do this:1. Open your server settings again, but select Members in the left sidebar instead of Delete Server.Choose "Members" on the left side menu of the "Server Settings."Stefan IonescuQuick tip: You can also get to the server members area on Discord by right-clicking the server name on the left side menu and selecting Server Settings > Members.2. This will give you a list of every server member. Hover over the name of the person that you want to give ownership to and click the three vertical dots that appear on the right.3. Select Transfer Ownership.Transfer ownership to another member on the server.Stefan IonescuHow to delete a Discord server through the mobile app1. Open Discord on your iPhone or Android device and navigate to the server you want to delete.2. Swipe right to open the side menu, and tap the server's name at the top of the screen.3. In the pop-up that appears, tap Settings (gear icon) on the right.Go to the server's settings on the Discord mobile app.Stefan Ionescu4. Tap Overview.Tap "Overview."Stefan Ionescu5. At the bottom of the Overview page, select Delete Server.Tap "Delete Server."Stefan Ionescu6. You'll be asked if you really want to delete the server. Tap Yes to confirm that you want to delete it. If you have two-factor authentication enabled, you'll need to enter the auth code found in your Authy or Google Authenticator app.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 30th, 2022

N.C. legislators pass pro-hemp bill, awaiting Gov. Cooper"s approval

Just 48 hours before hemp products were set to be illegal, North Carolina legislators have approved a bill that permanently removes hemp from the state’s list of controlled substances......»»

Category: topSource: bizjournalsJun 30th, 2022

Sen. Marco Rubio supported banning almost all abortions in a newly uncovered 2010 questionnaire

Facing reelection in November, many Republicans such as Rubio haven't made promises about the types of abortion bans they'd work to nationalize. Republican Sen. Marco Rubio of Florida is running for reelection in Florida.Graeme Jennings/Pool via AP Marco Rubio has never shied away from calling himself "pro-life." But as he seeks reelection he hasn't said which abortion ban a GOP-majority Senate should pursue.  Republicans have new openings on abortion restrictions now that Roe v. Wade is history. Like many Senate Republicans, Sen. Marco Rubio of Florida says he's "pro-life" but has avoided calling for a national abortion ban in the wake of the Supreme Court's opinion overturning Roe v. Wade.Rubio, who is up for reelection in November, instead has championed his forthcoming bill that he says is "truly pro-life" because it would expand federal support during pregnancy and parenthood. But in a 2010 questionnaire, then-first-time US Senate candidate Rubio was far more explicit about the types of abortion restrictions he'd support.He backed a constitutional amendment to ban abortions unless a pregnancy is life-threatening, and said he'd support a bill to give spouses the right to be notified and intervene before an abortion.The questionnaire, from the National Pro-Life Alliance, asked whether Rubio would support 10 of their priorities. He replied "yes" to all of them.The questionnaire sheds some light into how Rubio views abortion, though his Senate record and public comments add more to the story.With the midterms less than five months away, Democrats are pressuring Senate Republicans to explain where precisely they stand on abortion. They hope the contrast on the issue will help them make inroads in places like Florida as they seek to expand their razor-thin majority. Now that the Supreme Court has overturned Roe, the 1973 decision that guaranteed a national right to abortion, the legality of abortion falls to state legislatures unless Congress overrides them with a national abortion guarantee or ban. Many Senate Republicans have avoided saying which ban, if any, they'll support.Twelve years after Rubio filled out the National Pro-Life Alliance questionnaire, he has followed through on some pledges.He cosponsored legislation to permanently prevent federal funds from paying for most abortions. Another bill he cosponsored would obligate doctors to give abortion pills to patients only in person, and not via telehealth video meetings or through the mail.Rubio hasn't made any comments that show he would no longer support the measures in the questionnaire, but also hasn't followed through on all the pledges from the form. For instance, while he agreed to support the Life at Conception Act, Rubio hasn't cosponsored the bill. ButRubio, who is Catholic, has said he believes life begins at conception. Rubio also has cosponsored bills not on the questionnaire. They included a bill that would ban abortion nationally after 20 weeks, and levy criminal penalties on doctors who don't comply, as well as legislation that would obligate doctors to get consent from parents for minors who travel across state lines for abortions. GOP senators haven't announced a national anti-abortion planRubio agreed with overturning Roe and has consistently opposed abortion. But he sidestepped a question from Insider in May asking which national abortion laws a Republican-controlled Senate should support. Speaking on Fox News' Sean Hannity Friday, Rubio stressed that now state legislatures could decide "whether they want to allow abortion, prohibit it, and how they want to regulate it." In Florida, a law is expected to take effect July 1 that will make abortions illegal after 15 weeks, with no exceptions for rape, incest, or human trafficking. It's not clear yet whether a Senate Republican majority would seek an all-out ban or a more incremental approach on abortion. The conservative House Republican Study Committee has endorsed a six-week ban while other House Republicans are eyeing a national 15-week ban, CNN reported. Senate Minority Leader Mitch McConnell said in May that a national abortion ban was "possible" but pledged he wouldn't do it through abolishing the filibuster, meaning lowering the voting threshold to pass major legislation to 51 votes. Still, coalescing behind legislation would tee up a bill for a future GOP president.The National Pro-Life Alliance didn't answer questions from Insider about which abortion restrictions it wanted candidates to support after Roe. Rep. Val Demings of Florida speaks before the introduction of then Vice Presidential nominee Sen. Kamala Harris during an early voting mobilization event at the Central Florida Fairgrounds on October 19, 2020 in Orlando, Florida. President Donald Trump won Florida in the 2016 presidential election.Photo by Octavio Jones/Getty ImagesDemocrats lean in on abortion rights In contrast to Republicans, most congressional Democrats unified behind the Women's Health Protection Act, which would make abortion legal in all states and undo most restrictions. Rubio opposed the bill in May, calling it "radical and outrageous" because it allows for undefined "health" exemptions to abortions late in a pregnancy.Rep. Val Demings of Florida, the frontrunner to be Rubio's Democratic opponent in November, voted for the bill. She also voted for a spending bill that eliminated the Hyde Amendment, a rider that blocks the federal government from paying for most abortions. Demings called for eliminating the filibuster in a USA Today column last year. When she was asked about the Supreme Court in a 2020 PBS interview she said it was"incumbent upon us to use every tool within our authority to right a wrong."But Demings didn't sign onto a House bill last year to increase the number of Supreme Court justices from nine to 12. On Tuesday, her campaign told Insider she doesn't support a court expansion. Demings also told reporters last month that she supports abortion until viability and afterward only "when it threatens the health of the woman, the mother." The Demings campaign is also going on offense on abortion. A new website accuses Rubio of having a "Radical Agenda for Women" and posted his National Pro-Life Alliance questionnaire. Her campaign has accused Rubio of opposing legal abortion even in cases of rape or incest. Asked about this in a 2015 CNN interview, Rubio said he personally believed "you do not correct one tragedy with a second tragedy."It's not yet clear whether abortion rights will be the lighting-rod issue that Democrats hope will help them keep or gain seats in November. They still have to contend with Biden's sagging approval ratings, and voters are struggling with high costs of everyday needs, from food to gas.Rubio focused on a "pro-family" approachMost Republicans did unite on an abortion bills under then-President Donald Trump, voting on a bill that dealt with botched, late-pregnancy abortions and another that would have nationally banned abortions after 20 weeks.The bills failed but Rubio voted for both while Demings voted against both. It's possible Republicans could resurface these bills or go further under pressure from anti-abortion advocates. Last week, Rubio introduced a framework for his forthcoming legislation, the Providing for Life Act. The document includes bills he has introduced before and doesn't address nationalizing abortion restrictions. Among other provisions, the bill would increase the child tax credit he pushed to double in 2017 and extend it to cover the time during pregnancy. It also would make the adoption tax credit fully refundable, require biological fathers to pay at least half of pregnancy-related medical costs, and takes from legislation he introduced in 2018 that would allow new parents to withdraw early from their Social Security in order to help fund paid leave. "Our work is far from over," Rubio wrote in the Washington Examiner on the Roe decision. "We can and must do more for unborn children and their mothers. What we need is a pro-life plan for post-Roe America."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 29th, 2022

Truth Social"s refusal to use Amazon servers added to tech troubles and huge waiting list at launch, report says

A dearth of tech talent willing to work on the "conservative-friendly" alternative to Twitter and refusal to use Amazon added to launch problems. Donald Trump and his social media app Truth Social on a smartphone.Brandon Bell/Christoph Dernbach/Getty Images Truth Social's tech troubles were compounded by its refusal to use Amazon servers, Reuters reported. Trump Media said it was "founded to fight" companies like Amazon that have a "woke ideology". The app's launch was beset by limited functionality and sent thousands of new users to a waitlist. Truth Social's decision not to use Amazon servers was partly to blame for its rocky development and chaotic launch, a Reuters investigation has revealed.The social media platform launched by Donald Trump's media group used Amazon Web Services early in its development, but then abandoned them for ideological reasons, a source told the news agency.Trump Media & Technology Group declared in an SEC filing in May that had been "founded to fight" tech companies with a "woke ideology" such as Amazon, which had banned the conservative app Parler among others.However, the decision to stop using Amazon servers made Truth Social's February launch even more shambolic, according to Reuters.Trump Media was already struggling to recruit software engineers before it stopped using Amazon servers, which many app developers are most familiar with. The company's dearth of tech talent for developing its "conservative-friendly" alternative to Twitter caused havoc in the months leading up to its launch, Reuters reported.Despite working brutal hours, the app's release was still beset by problems including a lengthy waiting list and limited functionality.Even once the initial problems had been overcome, its original content and user engagement continued to lag significantly behind rivals such as Gettr and Parler.Trump Media CEO Devin Nunes said on the eve of the launch that he expected the app to be fully operational by March, but its direct messaging functionality is still not available to users.The company did not respond to Insider's request for comment. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 29th, 2022

ArcelorMittal (MT) Signs MoU With RWE for Energy Supply

ArcelorMittal (MT) and RWE will work together to develop, build and operate offshore wind farms and hydrogen facilities to supply renewable energy. ArcelorMittal MT recently signed a memorandum of understanding with the energy company, RWE. The companies will work together to develop, build and operate offshore wind farms and hydrogen facilities to supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany.ArcelorMittal Germany needs renewable energy on a large scale to decarbonize its production sites in Bremen, Hamburg, Eisenhuttenstadt and Duisburg as planned.RWE and ArcelorMittal are exploring options for combined participation in tenders for offshore wind farm sites in the North Sea. The amendment of the "Wind Energy at Sea Act" (WindSeeG) currently under way is key for success, as it will permanently shape the cost structure in the German offshore wind sector.The companies will work together on developing green hydrogen by collectively looking for areas where electrolysis plants can be built to supply the steel production sites in Bremen and Eisenhuttenstadt.RWE and ArcelorMittal plan to conclude long-term purchase agreements for wind power and green hydrogen. With RWE’s expertise in offshore wind farms and electrolyzers and ArcelorMittal as a guaranteed buyer of green electricity and hydrogen, the two companies would have opportunities for a viable partnership arrangement.Shares of ArcelorMittal have declined 22.3% in the past year compared with the 19.4% decline of the industry.Image Source: Zacks Investment ResearchThe company, in its last earnings call, said that it now envisions global apparent steel consumption to decline slightly by up to 1% in 2022, compared with the previous guidance of an increase up to 1%. The longer-term fundamental outlook for steel is positive. China is also focusing on decarbonization and removing VAT rebates on steel exports. Actions taken by governments to protect against the threats of unfair trade are also encouraging.ArcelorMittal Price and Consensus  ArcelorMittal price-consensus-chart | ArcelorMittal Quote Zacks Rank & Key PicksArcelorMittal currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. ATI, Cabot Corporation CBT and Nutrien Ltd. NTR.Allegheny has a projected earnings growth rate of 1,076.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 40.4% upward in the past 60 days.Allegheny’s earnings beat the Zacks Consensus Estimate in the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 15% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Cabot, currently carrying a Zacks Rank #2, has an expected earnings growth rate of 22.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 6% upward in the past 60 days.Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 16.7% over a year.Nutrien has a projected earnings growth rate of 174.6% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 30.7% upward in the past 60 days.Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 41.1% in a year. The company flaunts a Zacks Rank #1. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT): Free Stock Analysis Report Allegheny Technologies Incorporated (ATI): Free Stock Analysis Report Cabot Corporation (CBT): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 28th, 2022

Russian Gold Faces Import Ban By The U.S. And G7 Nations

Russian gold will have its way into the U.S. and G7 markets blocked after the Office of Foreign Assets Control (OFAC) of the Department of the Treasury banned imports of all gold coming from the Eurasian giant. The move has already been implemented by the U.K, Canada, and Japan. Russian Gold Ban Prior to this […] Russian gold will have its way into the U.S. and G7 markets blocked after the Office of Foreign Assets Control (OFAC) of the Department of the Treasury banned imports of all gold coming from the Eurasian giant. The move has already been implemented by the U.K, Canada, and Japan. Russian Gold Ban Prior to this new ban, certain gold-related transactions involving the Russian Federation were already punishable, and OFAC has warned Americans to be vigilant for attempts to circumvent regulations through gold-related transactions. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Simultaneously, the Treasury Financial Crimes Enforcement Network (FinCEN) has issued a joint alert with the Bureau of Industry and Security of the U.S. Department of Commerce to monitor that Russia and Belarus do not evade the export controls contemplated in the sanctions. "Financial institutions and the private sector continue to play a key role in disrupting Russia's efforts to acquire critical goods and technology to support its war efforts," the Treasury Department said. U.S. President Joe Biden has announced that countries participating in the G7 summit in Germany will impose a ban on imports of Russian gold. Russian Gold Stance "Together, the G7 will announce the ban on the import of Russian gold, a major export that generates tens of billions of dollars for Russia," Biden said on his Twitter account. As Western sanctions against Russia have vanished gold from European and U.S. markets, the G7 is committed to stopping trade between Russia and the world's two major trading hubs, London and New York. As London plays a major role in gold trading globally, an additional statement by the British Government said, “the measure will have a global reach and a huge impact on Russia's ability to raise funds.” The move is a formalization of the decrease in gold shipments between Russia and London, with levels achieving near zero. In March, according to a report, the London Bullion Market Association, which sets the standards for this market, removed Russian gold companies from the accreditation list. Updated on Jun 28, 2022, 2:26 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJun 28th, 2022

White Rock Management is taking a sustainable approach to crypto mining in its US expansion as the sector faces increased scrutiny from regulators

White Rock Management, a Swiss company, plans to expand its clean energy crypto-mining operations to the US and Canada. BI GraphicsFrom left to right: White Rock's Andy Long, CEO; Serhiy Tron, founder; and Alex Lyashok, GM North America.White Rock Management New York issued a two-year moratorium on certain crypto-mining permits that could set a precedent. Crypto miners who use sustainable energy sources could have an advantage if other states follow. White Rock Management's sustainable mining is helping it expand into other countries like the US. This article is part of Rise of the Crypto Economy, a series that explores how crypto is reshaping and driving innovation in the global economy. When New York's State Legislature passed a bill in June putting a two-year moratorium on issuing certain new crypto-mining permits, it was an attempt, in part, to curb the use of fossil-fuel plants. But the crypto-mining industry, which lobbied hard against the bill, saw it as a potential precedent that other states, and maybe even the federal government, might follow.Supporters of the bill wanted to see miners banned from using the city's power grid as the state executes climate-change themed initiatives that rely on electricity.White Rock Management is a crypto miner that uses sustainable techniques, like hydro electricity, which are immune to such moratoriums. But that hasn't stopped its CEO Andy Long from voicing his concerns over the regulation."When government starts to decide what you can and can't do with a piece of hardware, it's the thin end of the wedge. It's too close to the state deciding what private enterprise can do," Long told Insider.White Rock, which is based in Switzerland, mines 712 petahashes, or 0.7 exahashes, per second and owns just under 1% of the network. It plans to expand its bitcoin-mining operations to other countries, including the US, to diversify its mining locations and push its network share to 1.5% by 2024. Long, who was a miner nine years before joining White Rock in 2021, knows how critical regulations can be to business. He recalled being offered "very cheap power" in Iran a few years back. He turned down the offer and months later it proved to be a wise decision when sanctions were announced against Iran, a measure that would have disrupted plans. "You don't want to have all your eggs in one basket. It's good to be globally diversified," Long said.In White Rock's eyes, the US is an attractive country overall when examining infrastructure and regulation. It's also keen on positioning itself for the mergers and acquisitions it believes will soon follow the recent market selloff. "There are 29 listed miners between the US and Canada. And then you have privately-held entities like ourselves. I think there's going to be quite a lot of activity of companies merging and acquiring each other. So we want to have a presence in North America to be part of that picture," Long said.White Rock is keeping an eye on how states like New York handle the crypto-mining industry. If New York's governor signs the moratorium, it wouldn't stop White Rock from entering the Empire state because the corporate miner mainly uses clean energy sources, Long said. White Rock's operations include 19 hydro-electric stations on a river in Sweden that generate 4,300 megawatts, of which White Rock uses more than 50 megawatts. The miner aims to have a similar setup in the States, if possible. Northern New York is on its radar, but the state doesn't offer enough hydroelectric options to keep it top of White Rock's list of viable locations for its hardware. So the company is focusing more on the middle of the country.White Rock secured a location in Texas, a state that already houses one of the largest crypto mines in the world, and is in "advanced talks" to secure more locations in other states, including Wyoming.The miner is still looking for prime locations. For White Rock, Long said those are states "more inclined to let private enterprise take personal responsibility for what they're doing; and states where there's infrastructure to basically secure the bitcoin network." In June, Bitzero, a bitcoin-miner backed by investor and Shark Tank personality Kevin O'Leary, announced it was setting up its operations in North Dakota. The company is looking into other ways to source energy in case hydro electricity isn't always possible like solar, wind, and nuclear. But it has to be consistent and predictable for machines that run non-stop.Flare gas, a byproduct of oil patches which one the US's largest bitcoin miners, North Dakota-based Crusoe Energy uses to run its operations, is an option. But Long said flare gas has yet to be fully efficient. So White Rock will keep an eye on the legislation surrounding it.  "We've seen some states actually legislate to restrict flaring. And we think that's a good thing because there's better ways of doing that," Long said. "But that's getting into direct emissions. It's not saying what you do with the power. That's what I don't like about the New York legislation."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 28th, 2022

GOP Sen. Chuck Grassley says "it"s no big deal" that Putin has banned him from Russia: "I wear it as a badge of honor"

First lady Jill Biden and the Bidens' daughter, Ashley, were also sanctioned by Russia. The Kremlin said the moves were in retaliation for US sanctions. Sen. Chuck Grassley, a Republican from IowaTom Williams-Pool/Getty Images Chuck Grassley on Tuesday brushed aside the fact that Russia has sanctioned him.  The Iowa Republican said it was "no big deal." He called it a "shame" that so many Ukrainians and Russians are "needlessly dying." Sen. Chuck Grassley on Tuesday brushed off the fallout from Russia's latest round of sanctions against US lawmakers and officials, which included the Iowa Republican.Grassley, via his Twitter account, said he was fine with President Vladimir Putin banning him from Russia, a nation he has visited four times."Ive been to Russia 4 times while in the Senate I dont hv plans to go again so Putin sanctioning me is no big deal I wear it as a badge of honor," Grassley wrote on Twitter. The real tragedy is the humanitarian crisis brought on by Russia's unprovoked war, Grassley added."Obviously it's a humantarian shame all the Ukrainians & Russians needlessly dying bc of Putin's unjustified war," he wrote.On Tuesday, the Kremlin continued to slap sanctions on lawmakers and other Americans in retaliation for the US's support of Ukraine after Moscow's invasion. First lady Jill Biden and Ashley Biden, the first couple's daughter, were also on the latest list. The Russian Foreign Ministry said the move was in response to the US's own sanctions.At 88 years old, Grassley is the most senior Senate Republican and has served in Congress for nearly half a century. He is known for his tweets, which showcase his love of Dairy Queen, his odd abbreviations, and, most infamously, the apparent death of a deer.President Joe Biden is in Madrid to meet with other NATO leaders as the alliance seeks to renew its support for Ukraine.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 28th, 2022

The company buying Trump"s Truth Social warned the deal could collapse because it"s been subpoenaed by a federal grand jury

The proposed acquisition of Trump Media and Technology Group is already under investigation by the SEC. Donald Trump (left) and a phone displaying his social media app, Truth Social.Brandon Bell/Getty Images/Christoph Dernbach/picture alliance via Getty Images The SPAC trying to buy the firm behind Truth Social has received subpoenas from a grand jury, an SEC filing shows. The subpoenas indicate federal prosecutors may be considering a criminal investigation. The merger of Digital Wold and TMTG is already the subject of an SEC investigation. The SPAC that is attempting to acquire the company behind Donald Trump's social media app Truth Social said in a Securities and Exchange Commission filing Monday the acquisition is the subject of a new investigation by a grand jury.Digital World Acquisition Corp warned in its filing that it has been sent a number subpoenas, which have the potential to delay or even kill the merger it is pursuing with Trump Media and Technology Group, especially since the deal is already under investigation by the SEC.The filing said a member of Digital World's board of directors received subpoenas from a grand jury based in the Southern District of New York on June 16.The grand jury also sent subpoenas to the company on June 24, according to the SEC filing.Digital World's Monday filing said the subpoenas issued by the grand jury contained "substantially similar requests" to ones previously made by the SEC.The subpoenas signal federal prosecutors could be exploring the possibility of a criminal investigation into the acquisition.United States Attorney for the Southern District of New York Damian Williams declined to comment when contacted by The New York Times about the filing.Williams' office did not immediately respond when contacted by Insider outside of usual US working hours.Digital World Acquisition Corp and TMTG did not immediately respond when contacted by Insider outside of usual US working hours.Scrutiny by investigators isn't the only threat facing Digital World. The company warned in a May filing that Trump's previous failed business ventures — including the Trump Taj Mahal casino, Trump University, and Trump Vodka — mean TMTG could be vulnerable to bankruptcy.Truth Social closely resembles Twitter, and was launched on Apple's App Store in February. While Trump was initially fairly quiet on the app, he has started to use it more frequently in recent months.Trump's Twitter account was permanently suspended in January 2021 after he posted a video addressing the rioters at the January 6 storming of the Capitol building.In the video, Trump told rioters: "Go home. We love you. You're very special," and reiterated baseless claims the election had been fraudulent.Twitter said it had banned him "due to the risk of further incitement of violence."Read the original article on Business Insider.....»»

Category: worldSource: nytJun 28th, 2022

What To Expect In A Post-Roe World

What To Expect In A Post-Roe World Authored by Jonathan Turley, Below is my Hill column on what to expect in a post-Roe world. That world is already taking shape with states crafting their laws reflecting the values of their citizens from Colorado passing a law protecting the right to abortion up to the moment of birth to Louisiana banning all abortions except in limited circumstances. The fact is that most Americans are in the middle in this debate with more nuanced views than many political leaders. In the months to come, we will see if that view will prevail in the majority of states. Here is the column: In their historic ruling in Dobbs v. Jackson Women’s Health Organization, six Supreme Court justices noted that the nation was grappling with this deeply divisive issue in 1973 but that “Roe abruptly ended that political process.” The court has now declared that the future of abortion will rest with 330 million Americans rather than nine justices. As this matter returns to the states, it is striking to consider what has changed legally and socially in the past 50 years. The comparison may hold some interesting surprises for politicians who are now declaring, as did President Biden, that “this fall, Roe is on the ballot.” How little has changed If one looks solely at the alignment of states, surprisingly little has changed. In 1973, 30 states banned abortion at any stage of a pregnancy, with some exceptions for the health of the mother. In the Dobbs litigation of 2022, 26 states asked the court to overturn Roe and its successor, Casey. Thus, we remain deeply divided. Roughly 16 states are poised or expected to make abortion illegal immediately under so-called trigger laws. South Dakota, Louisiana and Kentucky have immediate prohibitions that will come into effect. Missouri claimed to be the first to declare all abortion as unlawful except for medical emergencies. Twenty-seven states have protections for abortion that are expected to continue. States like Colorado, New Jersey, Oregon and Delaware actually protected abortion without any limit on the stage of a pregnancy — guaranteeing the right up to just before time of birth. Internationally, only seven countries allow abortion after the 20th week. While many countries have decriminalized abortion, most are closer to Mississippi than Michigan in limiting abortion to the first or second trimester. How much has changed While Dobbs is a major reversal of a long-standing precedent, much has changed legally since 1973. After Roe, the Supreme Court continued to expand protections over lifestyles and intimate relations. In the parade of horribles that followed Friday’s release of the Dobbs ruling, politicians and pundits warned that the decision could undo cases protecting contraception, same-sex marriage and other rights. House Speaker Nancy Pelosi (D-Calif.), Vice President Harris and other Democrats continue to claim that the court was taking the country back to the last century. The image of criminalized homosexuality, marriage bans and contraception limits is unnerving — but also untrue. In the Dobbs decision, the court’s majority expressly, repeatedly rejects the application of this holding to these other rights. Indeed, it is relatively rare to see the court go to this extent to proactively close off the use of a new case in future cases. The court said that “intimate sexual relations, contraception, and marriage” are not impacted by its holding because “abortion is fundamentally different, as both Roe and Casey acknowledged.” It noted that abortion is unique in dealing with “what those decisions called ‘fetal life’ and what the law now before us describes as an ‘unborn human being.’” The court repeatedly stressed that those claiming the country will be put into a legal Wayback Machine are simply using the opinion “to stoke unfounded fear that our decision will imperil those other rights.” It could not be more clear, as the court said, that “rights regarding contraception and same-sex relationships are inherently different from the right to abortion because the latter (as we have stressed) uniquely involves what Roe and Casey termed ‘potential life.’” The court and Justice Brett Kavanaugh’s concurrence repeat, almost mantra-like: “Nothing in this opinion should be understood to cast doubt on precedents that do not concern abortion.” Only Justice Clarence Thomas suggested that these other cases should be examined, yet even he stressed this opinion expressly rejects that application. Putting aside the legal changes, there are major technological changes since 1973 that will impact the post-Roe world. Roughly 60 percent of abortions today are carried out at home, not in clinics, using pills with mifepristone and misoprostol to abort a pregnancy. In 2021, the Food and Drug Administration permanently removed the in-person requirement for these prescriptions and allowed women to access the drugs via telehealth appointments and online pharmacies. It will be difficult for states to interfere with such prescriptions, particularly if the federal government protects such access. How we have changed The greatest change may be us. As this issue returns to the states for citizens to decide, we are a different country than we were in 1973. Great strides have been made in the advancement of women and a wider acceptance of people making decisions about their own lives and values. While we remain divided on abortion, the public seems far more moderate and unified than the leaders of either party. While some Democrats are voicing absolute views of abortion, and some Republicans are calling for total bans, most Americans hold a more nuanced view. In 1975, polling showed 54 percent supported abortion under some circumstances, with 21 percent saying it should be entirely legal; 22 percent said it should be illegal. According to recent polling by the Pew Research Center, only 8 percent of adults say abortion should be illegal without exception, while just 19 percent say abortion should be legal in all cases, without exception. Yet, polls also show that 65 percent of Americans would make most abortions illegal in the second trimester, and 80 percent would make most abortions illegal in the third trimester. These polls suggest that the majority of Americans will continue to live in states protecting abortion while citizens would support limits like the one in Mississippi. In Virginia, Gov. Glenn Youngkin (R) announced an effort to limit abortions to Mississippi’s 15-week standard but expressed a willingness to compromise on that cutoff date. In other words, there may be room for compromise as states work out their own approaches to abortion. Of course, none of the political or legal realities will likely penetrate the rage and rhetoric following the decision. Indeed, there is a tendency toward Roe revisionism. Roe supporters ignore that Roe’s constitutional rationale was always controversial, including among some liberals. Justice Ruth Bader Ginsburg, for example, called the ruling “heavy-handed judicial activism” and felt the decision went too far. The original Roe actually died years ago when it was gutted by Casey in 1992 in its logic and tests. It was later the subject of 5-4 decisions that created a confusing muddle of what constituted “undue burdens.” Such revisionism is a natural part of grieving. In Shakespeare’s “Richard III,”the Queen Mother was asked how to deal with the hate of loss. She responds: “Think that thy babes were sweeter than they were; And he that slew them fouler than he is.” The same is true of Roe revisionism. Roe is now presented as inviolate and beyond question in its constitutional footing, while the opinion that slew it is presented as threatening every right secured since 1973. Our post-Roe world will not be written by Congress with the proposed federalization of Roe or another 50 years of conflicting court decisions. Instead, it will rest with citizens in 50 different states in coming years. The process just might surprise us. Tyler Durden Mon, 06/27/2022 - 21:15.....»»

Category: blogSource: zerohedgeJun 27th, 2022

Demand and Pricing Actions Aid Packaging Corp (PKG) Stock

Packaging Corp (PKG) benefits from solid demand for packaging products and price-increase actions across its segments. Packaging Corporation of America PKG is benefiting from escalating demand for packaging stemming from the booming e-commerce activities and higher requirements for meat, fruit and vegetables, processed food, beverages, medicine and other consumer products. Focus on buyouts and price-increase actions will also continue to drive growth.Strong Packaging Demand for Essential ProductsDemand in the Packaging segment, which accounts for 91% of the company’s revenues, continues to be strong. Packaging products are essential for distributing food, beverage and pharmaceutical products that will continue to support its Packaging segment’s revenues. Apart from this, Packaging Corp will continue to benefit from the e-commerce boom that has increased demand for boxes.Focus on Expanding Mill CapacityPackaging Corp completed the planned maintenance outage at the Jackson mill during the third quarter of 2021. The mill restarted the number 1 machine and began producing uncoated freesheet grades. This machine will help address customers’ strong demand for box plants and maintain targeted inventory levels. The mill’s number 3 machine produces linerboard to meet strong packaging demand and maintain appropriate inventory levels in the packaging segment. In February 2021, the company announced discontinuing the production of uncoated freesheet (UFS) paper grades on the machine and plans to permanently convert the machine to produce linerboard in a phased approach over the next three years. This move will provide much-needed internal linerboard supply and enable the company to optimize and enhance current mill capacity and box plant operations.Strategic AcquisitionsIn December 2021, Packaging Corp acquired all of the assets of Advanced Packaging Corporation in a cash-free transaction. The deal supports Packaging Corp’s focus on enhancing its containerboard portfolio through organic box volume growth and strategic box plant acquisitions. The company’s containerboard integration is anticipated to increase by almost 80,000 tons. This will bolster mill capacity and box plant operations. The deal is expected to be accretive to earnings this year.Upbeat OutlookPackaging Corp projects earnings per share to be around $2.83 in second-quarter 2022, which indicates year-over-year growth of 30%. Its Packaging segment will benefit from the ongoing strength in demand. The company expects price hikes across both segments will offset the impact of cost inflation. The Zacks Consensus Estimate for the second quarter earnings stands at $2.87, which suggests an increase of 32% year over year.The Zacks Consensus Estimate for the company’s current-year earnings is pegged at $11.66, indicating year-over-year growth of 24.2%.Price PerformancePackaging Corp’s stock has gained 5.4% in the past six months against the industry’s decline of 2.8%.Image Source: Zacks Investment ResearchZacks Rank & Other Stocks to ConsiderPackaging Corp currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Some other top-ranked stocks in the Industrial Products sector are Graphic Packaging Holding Company GPK, Myers Industries MYE and Titan International TWI, each flaunting a Zacks Rank #1 at present.Graphic Packaging has an estimated earnings growth rate of 86.8% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 7.6%.Graphic Packaging pulled off a trailing four-quarter earnings surprise of 7.2%, on average. The company’s shares have appreciated 8% in the past six months.Myers Industries has an expected earnings growth rate of 67% for 2022. The Zacks Consensus Estimate for the current year’s earnings has moved up 27% in the past 60 days.MYE has a trailing four-quarter earnings surprise of 20.1%, on average. Myers Industries’ shares have increased 25% over the last six months.Titan International has an estimated earnings growth rate of 112% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 55%.Titan International pulled off a trailing four-quarter earnings surprise of 56.4%, on average. The company’s shares have soared 46.7% in six months’ time. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Packaging Corporation of America (PKG): Free Stock Analysis Report Graphic Packaging Holding Company (GPK): Free Stock Analysis Report Titan International, Inc. (TWI): Free Stock Analysis Report Myers Industries, Inc. (MYE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 27th, 2022

Yelp (YELP) Embraces Remote Work Culture, Closes 3 U.S Offices

Yelp (YELP) closes offices located in Chicago, Washington and New York and accelerates its fully remote working policy. Yelp Inc. YELP recently announced that the company would completely exit three of its existing United States-based offices effective from Jul 29. Yelp will shut its offices in Chicago, Washington and New York on the grounds of the fact that these offices remain “most consistently underutilized.”The online business search, review and recommendation service provider intends to take a step toward a fully remote work environment through this move. Yelp currently has offices across six U.S cities which are located in San Francisco, New York City, Chicago, Washington, Phoenix, and Scottsdale. The company also has offices outside the United States in Toronto, London, Dublin and Hamburg City. All of these offices will, however, remain open.Yelp's CEO, Stopppleman, mentioned that the future of work at Yelp is remote. He pointed out that remote working, on one side, aids employees reduce their costs of living in expensive cities while, on the other side, preventing companies from losing their workspaces.Technically, a remote work setup supports work from anywhere approach, which offers employees an immense amount of flexibility. With this availability, employees can work anytime from anywhere, be it at home or a restaurant. Recently, many top-notch companies have adapted to this environment.Yelp Inc. Price and Consensus Yelp Inc. price-consensus-chart | Yelp Inc. QuoteIn 2021, one of the big five American technology giants, Meta Platforms META, allowed its employees to opt to work from home on a permanent basis. Before that, in 2020, the Australian software company, Atlassian TEAM, began allowing its employees to work from home or anywhere else permanently.While Meta is allowing workers whose jobs can be performed remotely to adapt to its remote work policy, Atlassian has stated that even when COVID-19 restrictions loosen, employees are no more required to visit offices.Zacks Rank & A Key PickYelp, Meta and Atlassian currently carry a Zacks Rank #3 (Hold). Shares of YELP, META and TEAM have plunged 25.1%, 52.2% and 22%, respectively, in the past year.A better-ranked stock from the broader Computer and Technology sector is Axcelis Technologies ACLS flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Axcelis’ second-quarter 2022 earnings has been revised upward by 3 cents to 99 cents per share over the past 60 days. For 2022, earnings estimates have moved 41 cents north to $4.40 per share in the past 60 days.Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 23.5%. Shares of ACLS have climbed 43.3% in the past year. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report Yelp Inc. (YELP): Free Stock Analysis Report Atlassian Corporation PLC (TEAM): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 27th, 2022

Meta Platforms (META) Develops 3 New AI Models for Metaverse

Meta Platforms (META) announces that the company's AI researchers and audio specialists from the Reality labs team have built three new AI models. Meta Platforms META recently announced that the company’s AI researchers and audio specialists from the Reality labs team built three new AI models — Visual-Acoustic Matching, Visually-Informed Dereverberation and VisualVoice.Meta’s research team built these new models, which will specifically focus on audio-visual perception, in collaboration with researchers from the University of Texas at Austin.The newly designed AI models, currently available for developers, will help Meta build the Metaverse as a more refined immersive reality space by making the sound more realistic in mixed and virtual reality experiences.The AI models create a unique experience for the users in the Metaverse. For instance, the visual acoustic matchmaking model called AViTAR is self-supervised and matches audio to match the space of a target image. One of the future utilities of this model is quite distinctive, like reliving past memories.When one puts on a pair of AR glasses and sees an object, they will have the option of replaying the memory associated with that object. The newly launched AI models are capable of achieving such audacious feats.AI is at the heart of the fourth industrial revolution, and Meta is investing heavily to build its AI, which can support the growth of both of its business segments —  Family of Apps and the building of Metaverse.Meta Platforms, Inc. Price and Consensus Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. QuoteMeta Investing In AI to Drive Long-Term Top LineMeta’s revenue growth was driven exponentially by the e-commerce boom during the pandemic. However, that was momentum growth and is finally slowing down. Meta’s share price has been significantly impacted by the Russia-Ukraine war, which can be described as a black swan event.While war has historically impacted businesses and the economy globally before but the sanctions imposed by the United States, the G7 and the EU upon Russia have been unprecedented in scale and scope.The sheer number of sanctions triggered by this situation makes the global geopolitical situation extremely complicated and makes it difficult to predict how this will impact businesses globally.Meta, whose services have been banned in Russia, is losing a significant portion of its ad revenues from that region. This kind of negative global geopolitical situation and inflation, which the war has aggravated, has hurt the company's stock price.Shares of Meta have tumbled 49.8% in the year-to-date period compared with the Zacks Internet – Software industry decline of 48.6%.The situation is not expected to get better in the near term as negative sentiments are clearly reflected by traders shorting shares of every major tech stock in the NASDAQ composite, including Meta’s social media peer Twitter TWTR and tech giants Alphabet GOOGL and Apple AAPL.Twitter shares have fallen 8.4% compared with the Zacks Internet Software industry’s decline of 48.6%.Alphabet shares have lost 19% in the year-to-date period compared with the Zacks Internet – Services industry’s decline of 21.6%.Apple’s shares have fallen 20% in the year-to-date period compared with the Zacks Computer - Mini computers industry’s decline of 19.7%.Although Meta’s short-term revenue growth looks bleak, the company is confident about its long-term growth. Meta is investing heavily in developing AI, which will drive revenue growth across ad business and the Metaverse.Reels are the newest trend right now, and the feeds are increasingly being recommended by AI. This will enable Meta to evolve its ad systems to do more with less data, thus minimizing its privacy policy issues substantially.Further, as Meta is banking its future on building the Metaverse, investment in AI is expected to bring lofty ROI for the company and separate its services from competitors. This will impact shareholders' growth positively and makes it a lucrative stock to retain in your portfolio.Meta currently carries Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Twitter, Inc. (TWTR): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 27th, 2022