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Satellite images have reportedly revealed that Russia has supplied North Korea with over one million barrels of oil since March, violating United Nations sanctions that restrict oil sales to North Korea . These transfers are part of a broader arrangement in which North Korea sends weapons, artillery shells, and even troops to aid Russia’s war in Ukraine, the BBC reports . The oil deliveries, tracked by the UK-based Open Source Centre, are seen as a direct quid pro quo for North Korea’s military support, with the oil serving to fuel Pyongyang’s own operations and provide stability amid ongoing sanctions. According to satellite imagery analyzed by UK-based non-profit research group the Open Source Centre and shared exclusively with the BBC, North Korean oil tankers have made 43 trips to Russia’s Far East, with vessels arriving empty and leaving full. Also Read: Warren Buffett Is Set To Collect $776 Million In Coca-Cola Dividends – But Daughter Says His Wife Buys Him The Soda ‘On Sale’ Despite UN sanctions capping the amount of oil North Korea can receive at 500,000 barrels per year, Russia’s illicit shipments have far exceeded this limit, with experts estimating more than a million barrels have been supplied since March. The BBC added that these transfers not only breach UN sanctions but also involve ships that are themselves under sanction, some of which should have been impounded upon entering Russian waters, citing Go Myong-hyun, a senior research fellow at South Korea’s Institute for National Security Strategy. The situation marks a new level of contempt for international regulations, as Russia has actively circumvented the UN panel responsible for monitoring such violations, disbanding it through its veto at the Security Council in March. Experts worry this cooperation between two autocratic regimes may lead to even more dangerous collaborations, potentially involving military technology transfers that could further destabilize the region, the BBC adds. While the oil deliveries provide crucial fuel for North Korea’s military, which relies on oil for its missile launchers and munitions factories, concerns are growing over the potential for more military technology exchanges, particularly in satellite and ballistic missile advancements. Both the US and South Korea are closely monitoring the evolving ties between Russia and North Korea, with the possibility of these exchanges further threatening global security. Read Next: Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Middle East latest: Syria's forces withdraw from Homs, a key link between the capital and coast
Article content Things got heated between Bill Maher and Neil deGrasse Tyson as the two butted heads over their differing stances on transgender athletes in women’s sports, Scientific American magazine, and the Democrats’ loss in the election. Recommended Videos Maher kicked off Friday’s episode of Real Time with Bill Maher by asking deGrasse Tyson about the recent departure of Scientific American ’ s editor Laura Helmuth, who stepped down after posting a string of attacks on social media about President-elect Donald Trump. “It sure didn’t sound scientific. It didn’t sound like the person I would want to be running Scientific American. It was a rant on Twitter,” Maher said. In part, Helmuth posted: “You know, ‘I apologize to younger voters that my Gen-X is so full of f***ing fascists.” “OK. I’m not for cancelling people on either side, but here’s what I think is the scandal,” the host said. “This is in Scientific American less than a year ago: ‘Inequity between male and female athletes as a result, not of inherent biological differences between the sexes, but of biases in how they are treated in sports.’” Maher ranted: “That’s nuts. And it sure ain’t scientific. And it’s in Scientific American . And that’s why the Democrats lost the election.” Why the Democrats lost the election. pic.twitter.com/wu0K83JgsC Maher was referencing an article published on Nov. 1, 2023, titled “The Theory That Men Evolved to Hunt and Women Evolved to Gather Is Wrong” which explored the biological differences in males and females. Tyson laughed at Maher for linking transgender issues to Vice President Kamala Harris’ loss in the presidential election. “Bill, every 20 minutes on your platform, you come up with another reason why the Democrats lost. You already have the answer. They lost the election,” deGrasse Tyson laughed before Maher interrupted him. The host noted that deGrasse Tyson doesn’t watch his show, so he doesn’t know what Maher says in each episode. “Engage with the idea here,” Maher said. “What I’m asking is Scientific American is saying basically that the reason why a WNBA team can’t beat the Lakers is because of societal bias.” The famed astrophysicist tried to deflect, but Maher continued on the offensive. RECOMMENDED VIDEO “I think a year ago, women still couldn’t beat men in basketball or any other sport, and it wasn’t because of society. You don’t see a problem here?” Maher asked before posing deGrasse Tyson another question: “Why can’t you just say this is not scientific and that Scientific American should do better?” Tyson countered, “Well, does she still have her job?” referring to Helmuth, to which Maher shouted, “Not because of this! I said the scandal is not her tweet... you don’t see a problem here?” Tyson responded: “Long distance swimming, women might actually have the advantage, you look into that.” A baffled Maher replied, “Well, I’m going to file you under ‘part of the problem.’”
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Columbia defeats Merchant Marine 98-49BEIRUT (AP) — Insurgents' stunning march across Syria accelerated Saturday with news that they had reached the suburbs of the capital and that government forces had withdrawn from the central city of Homs. The government was forced to deny rumors that President Bashar Assad had fled the country. The loss of Homs is a potentially crippling blow for Assad. It stands at an important intersection between Damascus and Syria’s coastal provinces of Latakia and Tartus — the Syrian leader’s base of support and home to a Russian strategic naval base. The pro-government Sham FM reported that government forces took positions outside Syria’s third-largest city, without elaborating. Rami Abdurrahman who heads the Britain-based Syrian Observatory for Human Rights, said Syrian troops and members of different security agencies have withdrawn from the city, adding that rebels have entered parts of it. The capture of Homs is a major victory for insurgents, who have already seized the cities of Aleppo and Hama , as well as large parts of the south, in a lightning offensive that began Nov. 27. Analysts said Homs falling into rebel hands would be a game-changer. The rebels' moves around Damascus, reported by the monitor and a rebel commander, came after the Syrian army withdrew from much of southern part of the country, leaving more areas, including several provincial capitals, under the control of opposition fighters. The advances in the past week were among the largest in recent years by opposition factions, led by a group that has its origins in al-Qaida and is considered a terrorist organization by the U.S. and the United Nations. In their push to overthrow Assad's government, the insurgents, led by the Hayat Tahrir al-Sham group, or HTS, have met little resistance from the Syrian army. For the first time in the country's long-running civil war, the government now has control of only three of 14 provincial capitals: Damascus, Latakia and Tartus. The U.N.’s special envoy for Syria, Geir Pedersen, on Saturday called for urgent talks in Geneva to ensure an “orderly political transition.” Speaking to reporters at the annual Doha Forum in Qatar, he said the situation in Syria was changing by the minute. Russian Foreign Minister Sergey Lavrov, whose country is Assad's chief international backer, said he feels “sorry for the Syrian people.” In Damascus, people rushed to stock up on supplies. Thousands went to Syria's border with Lebanon, trying to leave the country. Many shops in the capital were shuttered, a resident told The Associated Press, and those still open ran out of staples such as sugar. Some were selling items at three times the normal price. “The situation is very strange. We are not used to that,” the resident said, insisting on anonymity, fearing retributions. “People are worried whether there will be a battle (in Damascus) or not.” It was the first time that opposition forces reached the outskirts of Damascus since 2018, when Syrian troops recaptured the area following a yearslong siege. The U.N. said it was moving noncritical staff outside the country as a precaution. Assad's status Syria’s state media denied social media rumors that Assad left the country, saying he is performing his duties in Damascus. He has had little, if any, help from his allies. Russia, is busy with its war in Ukraine . Lebanon’s Hezbollah, which at one point sent thousands of fighters to shore up Assad's forces, has been weakened by a yearlong conflict with Israel. Iran has seen its proxies across the region degraded by regular Israeli airstrikes. U.S. President-elect Donald Trump on Saturday posted on social media that that the United States should avoid engaging militarily in Syria. Pedersen said a date for talks in Geneva on the implementation a U.N. resolution, adopted in 2015, and calling for a Syrian-led political process, would be announced later. The resolution calls for the establishment of a transitional governing body, followed by the drafting of a new constitution and ending with U.N.-supervised elections. Later Saturday, foreign ministers and senior diplomats from eight key countries, including Saudi Arabia, Russia, Egypt, Turkey and Iran, along with Pederson, gathered on the sidelines of the Doha Summit to discuss the situation in Syria. No details were immediately available. The insurgents' march Rami Abdurrahman, who heads the Britain-based Syrian Observatory for Human Rights, an opposition war monitor, said insurgents were in the Damascus suburbs of Maadamiyah, Jaramana and Daraya. Opposition fighters were marching toward the Damascus suburb of Harasta, he added. A commander with the insurgents, Hassan Abdul-Ghani, posted on the Telegram messaging app that opposition forces had begun the “final stage” of their offensive by encircling Damascus. HTS controls much of northwest Syria and in 2017 set up a “salvation government” to run day-to-day affairs in the region. In recent years, HTS leader Abu Mohammed al-Golani has sought to remake the group’s image, cutting ties with al-Qaida, ditching hard-line officials and vowing to embrace pluralism and religious tolerance. The shock offensive began Nov. 27, during which gunmen captured the northern city of Aleppo, Syria’s largest, and the central city of Hama , the country’s fourth largest city. Opposition activists said Saturday that a day earlier, insurgents entered Palmyra, which is home to invaluable archaeological sites had been in government hands since being taken from the Islamic State group in 2017. To the south, Syrian troops left much of the province of Quneitra including the main Baath City, activists said. Syrian Observatory said government troops have withdrawn from much of the two southern provinces. The Syrian army said in a statement that it carried out redeployment and repositioning in Sweida and Daraa after its checkpoints came under attack by “terrorists." The army said it was setting up a “strong and coherent defensive and security belt in the area,” apparently to defend Damascus from the south. The Syrian government has referred to opposition gunmen as terrorists since conflict broke out in March 2011. Diplomacy in Doha The foreign ministers of Iran, Russia and Turkey, meeting in Qatar, called for an end to the hostilities. Turkey is a main backer of the rebels. Qatar's top diplomat, Sheikh Mohammed bin Abdulrahman Al Thani, criticized Assad for failing to take advantage of the lull in fighting in recent years to address the country’s underlying problems. “Assad didn’t seize this opportunity to start engaging and restoring his relationship with his people,” he said. Sheikh Mohammed said he was surprised by how quickly the rebels have advanced and said there is a real threat to Syria’s “territorial integrity.” He said the war could “damage and destroy what is left if there is no sense of urgency” to start a political process. ____ Karam reported from London. Associated Press writers Albert Aji in Damascus, Syria and Qassim Abdul-Zahra in Baghdad contributed to this report. Bassem Mroue And Zeina Karam, The Associated Press
The Indian film industry is a powerhouse of talent and creativity, producing some of the world’s most influential and culturally rich movies. This listicle highlights the Top 10 Best Movie Production Houses in India in 2025, which have redefined cinematic experiences with their exceptional storytelling, technical excellence, and blockbuster hits. 1. Yash Raj Films (YRF) Founded: 1970 Headquarters: Mumbai, Maharashtra Founder: Yash Chopra Yash Raj Films (YRF) is one of the most iconic and celebrated movie production houses in India. With a legacy spanning over five decades, YRF has delivered numerous blockbusters that have left an indelible mark on Indian cinema. Known for its grandeur, YRF is synonymous with cinematic excellence, offering movies with compelling storylines and breathtaking visuals. Key Contributions: Blockbusters : Dilwale Dulhania Le Jayenge , War , Pathaan . Genres : Romance, action, and thrillers. Innovation : YRF is credited with pioneering modern marketing strategies and introducing international filmmaking techniques to Indian cinema. 2. Dharma Productions Founded: 1976 Headquarters: Mumbai, Maharashtra Founder: Yash Johar Dharma Productions, under the leadership of Karan Johar, has become a household name for producing glossy, star-studded films with universal appeal. From romantic dramas to high-octane thrillers, Dharma Productions caters to diverse audiences with its content-rich films. Key Contributions: Blockbusters : Kabhi Khushi Kabhie Gham , Brahmāstra: Part One – Shiva , Rocky Aur Rani Ki Prem Kahani . Genres : Family dramas, fantasy, and urban romance. Achievements : Known for setting benchmarks in costume design, cinematography, and music composition. 3. T-Series Films Founded: 1983 Headquarters: Noida, Uttar Pradesh Founder: Gulshan Kumar T-Series is a dominant force in the Indian entertainment industry. Originally a music label, T-Series has evolved into a leading movie production house. Their films often feature chart-topping music, making them a favorite among music and movie lovers. Key Contributions: Blockbusters : Kabir Singh , Bhool Bhulaiyaa 2 , Adipurush . Genres : Romantic dramas and mythological epics. Innovation : T-Series integrates music and movies seamlessly, ensuring a holistic entertainment experience. 4. Eros International Founded: 1977 Headquarters: Mumbai, Maharashtra Founder: Arjan Lulla Eros International is a pioneer in the global distribution of Indian films. Known for producing and co-producing several critically acclaimed movies, Eros has consistently elevated the standards of Indian filmmaking. Key Contributions: Blockbusters : Bajirao Mastani , Tanu Weds Manu Returns , Housefull series. Genres : Historical dramas, comedies, and action. Global Presence : Eros has an extensive distribution network, ensuring Indian cinema reaches international audiences. 5. Balaji Motion Pictures Founded: 1994 Headquarters: Mumbai, Maharashtra Founder: Ekta Kapoor Balaji Motion Pictures is renowned for its unique storytelling and bold content. A subsidiary of Balaji Telefilms, it has successfully ventured into both mainstream and offbeat cinema, catering to various audience tastes. Key Contributions: Blockbusters : The Dirty Picture , Dream Girl , Laila Majnu . Genres : Biopics, thrillers, and slice-of-life dramas. Innovation : Balaji’s fearless approach to unconventional narratives has earned it critical acclaim. 6. Red Chillies Entertainment Founded: 2002 Headquarters: Mumbai, Maharashtra Founder: Shah Rukh Khan and Gauri Khan Founded by Bollywood superstar Shah Rukh Khan, Red Chillies Entertainment is known for producing visually stunning and technically advanced films. The production house excels in creating films that resonate with the masses while pushing creative boundaries. Key Contributions: Blockbusters : Chennai Express , Raees , Jawan . Genres : Action, comedy, and drama. Technical Excellence : Red Chillies is also celebrated for its cutting-edge VFX studio, contributing to its success. 7. Excel Entertainment Founded: 1999 Headquarters: Mumbai, Maharashtra Founders: Farhan Akhtar and Ritesh Sidhwani Excel Entertainment has redefined urban cinema in India. Known for producing contemporary and youth-centric films, it consistently delivers content that appeals to modern audiences. Key Contributions: Blockbusters : Dil Chahta Hai , Zindagi Na Milegi Dobara , Gully Boy . Genres : Youth dramas, musicals, and urban tales. Achievements : Excel is known for its innovative storytelling and trendsetting soundtracks. 8. Phantom Films (Now Revived) Founded: 2011 Headquarters: Mumbai, Maharashtra Founders: Anurag Kashyap, Vikramaditya Motwane, Madhu Mantena, Vikas Bahl Phantom Films made waves with its unique and raw storytelling approach. Revived in 2025, it continues to focus on bringing niche and offbeat stories to the mainstream. Key Contributions: Blockbusters : Queen , Masaan , Udta Punjab . Genres : Indie films, socially relevant dramas, and dark comedies. Innovation : Known for its collaborative approach and giving a platform to emerging talent. 9. Viacom18 Motion Pictures Founded: 2007 Headquarters: Mumbai, Maharashtra Viacom18 Motion Pictures has become synonymous with content-driven cinema. From biographical dramas to riveting thrillers, it is known for producing meaningful and impactful films. Key Contributions: Blockbusters : Queen , Special 26 , Drishyam 2 . Genres : Biopics, thrillers, and experimental films. Achievements : Viacom18 is at the forefront of producing socially relevant cinema with mass appeal. 10. Lyca Productions Founded: 2014 Headquarters: Chennai, Tamil Nadu Lyca Productions has emerged as a major player in the Tamil film industry and beyond. Known for producing big-budget films, it is redefining regional cinema’s landscape. Key Contributions: Blockbusters : 2.0 , Ponniyin Selvan , Indian 2 . Genres : Sci-fi, historical epics, and action thrillers. Innovation : Lyca Productions is synonymous with grandeur and technical brilliance, setting new benchmarks in Indian cinema and in Movie Production Houses. How These Production Houses Are Shaping Indian Cinema in 2025 The movie production houses listed above are not just businesses; they are creative hubs that contribute to the cultural fabric of India. They focus on creating content that resonates with audiences, both nationally and internationally, while exploring new technologies and storytelling formats. Common Traits of Successful Movie Production Houses: Challenges Faced by Indian Movie Production Houses Despite their success, these movie production houses face several challenges: Piracy : A perennial issue affecting revenue. Changing Audience Preferences : Adapting to the OTT boom and evolving viewer demands. Rising Production Costs : Big-budget films come with high risks, especially during economic uncertainties. Future Trends in Indian Movie Production Houses In 2025 and beyond, Indian movie production houses are expected to: Conclusion Indian movie production houses are the backbone of the film industry, continuously raising the bar for cinematic excellence. The Top 10 Best Movie Production Houses in India in 2025 not only define quality entertainment but also inspire future generations of filmmakers. As these giants adapt to changing landscapes, they ensure that Indian cinema remains a global force.Mexico shares higher at close of trade; S&P/BMV IPC up 1.08%
PATRIOTIC Nathan Aspinall set up an England versus Germany clash with Ricardo Pietreczko on Monday. But his third-round clash with Andrew Gilding was briefly interrupted by a punter who downed a JUG of booze! Two-time semi-finalist, 33, reached the Last 16 of the PDC World Darts Championship for the first time in five years with a 4-0 stuffing of Goldfinger that saw him nail 60 per cent of his doubles. The Stockport thrower – who is taking his family on a trip to Hyde Park’s Winter Wonderland on Sunday – said: “I’m in the Last 16 and it’s England v Germany. “It will be great. The German fans love the darts – it will be a nice little divide. “There will be lots of football vibes. I love all that atmosphere and cannot wait. Hopefully we can put in a great show.” Both players stopped throwing during the final leg because the whole crowd were cheering loudly as one bloke drank his alcoholic beverage in one swift go. The Asp joked: “He was chugging a jug. Normally you chug a pint. But this guy had a four-pint jug. “I was just intrigued to see if he could finish it – he did and then he got kicked out. So fair play. “Unbelievable. And then I missed the board, going for the 18.” BEST FREE BET SIGN UP OFFERS FOR UK BOOKMAKER S Reacting on social media to the beer-chugging stoppage, one fan said: "Aspinall knows how to entertain, even during intense moments..." A second said: "The Asp the people’s champion." A third added: "Greatest sport on earth." Another said: "No other sport like it!" Berlin-born Pietreczko knocked out Lincolnshire’s Scott Williams 4-1 – a year after the Englishman’s careless comments about winning “two World Wars and one World Cup” in relation to German fans. Pikachu, 30, said: “There are so many fans with tickets from Germany here and it makes for a great atmosphere. “It was probably about 50-50 and it was very enjoyable to play against Scott with this crowd. “I was very close to beating Luke Humphries last year but I am in the Last 16 now and I look forward to meeting him again in the semi-finals!” Unseeded Ryan Joyce flew the flag for the North East by beating Ryan Searle – who averaged 100.97 – 4-3 in round three. READ MORE on all the build-up to the Ally Pally extravaganza... All the info: News, features and interviews:The world's most climate-imperilled nations stormed out of consultations in protest at the deadlocked UN COP29 conference Saturday, as simmering tensions over a hard-fought finance deal erupted into the open. Diplomats from small island nations threatened by rising seas and impoverished African states angrily filed out of a meeting with summit hosts Azerbaijan over a final deal being thrashed out in a Baku sports stadium. "We've just walked out. We came here to this COP for a fair deal. We feel that we haven't been heard," said Cedric Schuster, the Samoan chairman of the Alliance of Small Island States (AOSIS). An unpublished version of the final text circulating in Baku, and seen by AFP, proposes that rich nations raise to $300 billion a year by 2035 their commitment to poorer countries to fight climate change. COP29 hosts Azerbaijan intended to put a final draft before 198 nations for adoption or rejection on Saturday evening, a full day after the marathon summit officially ended. But, in a statement, AOSIS said it had "removed" itself from the climate finance discussions, demanding an "inclusive" process. "If this cannot be the case, it becomes very difficult for us to continue our involvement here at COP29," it said. Sierra Leone's climate minister Jiwoh Abdulai, whose country is among the world's poorest, said the draft was "effectively a suicide pact for the rest of the world". An earlier offer from rich nations of $250 billion was slammed as offensively low by developing countries, who have demanded much higher sums to build resilience against climate change and cut emissions. UK Energy Secretary Ed Miliband said the revised offer of $300 billion was "a significant scaling up" of the existing pledge by developed nations, which also count the United States, European Union and Japan among their ranks. At sunset, a final text still proved elusive, as harried diplomats ran to-and-fro in the stadium near the Caspian Sea searching for common ground. "Hopefully this is the storm before the calm," said US climate envoy John Podesta in the corridors as somebody shouted "shame" in his direction. Earlier, the EU's climate commissioner Wopke Hoekstra said negotiators were not out of the woods yet. "We're doing everything we can on each of the axes to build bridges and to make this into a success. But it is iffy whether we will succeed," he said. Ali Mohamed, the Kenyan chair of the African Group of Negotiators, told AFP: "No deal is better than a bad deal." South African environment minister Dion George, however, said: "I think being ambitious at this point is not going to be very useful." "What we are not up for is going backwards or standing still," he said. "We might as well just have stayed at home then." The revised offer from rich countries came with conditions in other parts of the broader climate deal under discussion in Azerbaijan. The EU in particular wants an annual review on global efforts to phase out fossil fuels, which are the main drivers of global warming. This has run into opposition from Saudi Arabia, which has sought to water down a landmark pledge to transition away from oil, gas and coal made at COP28 last year. "We will not allow the most vulnerable, especially the small island states, to be ripped off by the new, few rich fossil fuel emitters," said German Foreign Minister Annalena Baerbock. Wealthy nations counter that it is politically unrealistic to expect more in direct government funding. The US earlier this month elected former president Donald Trump, a sceptic of both climate change and foreign assistance, and a number of other Western countries have seen right-wing backlashes against the green agenda. A coalition of more than 300 activist groups accused historic polluters most responsible for climate change of skirting their obligation, and urged developing nations to stand firm. The draft deal posits a larger overall target of $1.3 trillion per year to cope with rising temperatures and disasters, but most would come from private sources. Even $300 billion would be a step up from the $100 billion now provided by wealthy nations under a commitment set to expire. A group of developing countries had demanded at least $500 billion, with some saying that increases were less than met the eye due to inflation. Experts commissioned by the United Nations to assess the needs of developing countries said $250 billion was "too low" and by 2035 rich nations should be providing at least $390 billion. The US and EU have wanted newly wealthy emerging economies like China -- the world's largest emitter -- to chip in. China, which remains classified as a developing nation under the UN framework, provides climate assistance but wants to keep doing so on its own voluntary terms. bur-np-sct/lth/giv
The whiplash-inducing, “Hunger Games”-style race to become Donald Trump’s Treasury secretary made it easy for the media to ignore what has been going on with Janet Yellen — and the absolute mess she’s leaving for her successor. Yellen — who, it was revealed Friday, will be replaced as Treasury secretary in January by hedge fund mogul Scott Bessent — was Joe Biden’s pick to run the office that is essentially the country’s CFO. Indeed, it could be the most important cabinet position in the White House given the importance of the US economy. Americans put Trump in office largely over his handling of the economy during his first term — job growth and wages that kept place with a low inflation rate. Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Yellen gave the country just the opposite. Her boss paid the price politically as the American people paid the price economically. And according to my sources, the American people aren’t done paying the price for Yellen’s mismanagement even if most of the financial media is overlooking the fiscal time bomb she devised — one that could blow up once Trump takes office. Specifically, my sources who follow the bond market say Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt. Yellen has been moving away from long-term debt to finance the shortfalls to shorter-dated securities, essentially rolling over deficits with more and more Treasury bills instead of the normal way of debt issuance through 10- and 30-year debt. That’s according to an analysis by Robbert van Batenburg of the influential Bear Traps Report, who estimates that around 30% of all debt is the short-term variety — aka 2-year and shorter notes — compared to 15% in 2023. Didn’t lock in low rates In an era of low interest rates, Yellen & Co. could have locked in relatively cheap interest payments for years by issuing more 10- and 30-year debt. So why go there? Politics, according to Yellen’s Wall Street critics. Because the Biden administration has taken spending to new and some say unsustainable levels, Yellen needed to engage in a bit of financial chicanery to keep interest rates low and not spook the stock market during an election year, her critics say. If she had financed deficits with 10- and 30-year bonds, that would have caused a rise in interest rates that impact consumers, i.e. mortgages and credit cards. Follow the latest on President-elect Donald Trump’s cabinet selections: Yields on the 10-year bond have remained under 5%, a key level that has coincided with a run-up in stocks. If rates move to 5% and above, it would also probably cause a decline in the stock market because stocks would be competing with higher-yielding super-safe treasuries for investors’ money. She was playing with additional fire because rates on short-dated debt, while low, began to spike in recent years when the Fed raised its base rate to fight inflation. As van Batenburg puts it: “The Treasury now faces a substantial volume of short-term debt maturing annually, which must be refinanced at significantly higher interest rates. Current market rates for short-term debt, while slightly lower than recent peaks, remain elevated compared to historical levels. This mismatch between low-cost historical debt and high-cost replacement debt is driving a substantial increase in the government’s interest expense.” Scary stuff. Average Americans got screwed by inflation and then higher rates that made homeownership less affordable. Rich people luxuriated in gains from higher financial-asset prices. But yields on the 10-year have been inching up to that danger zone of 5%. It could set the stage for a stock market collapse or even worse if the bond market starts to factor in not just higher deficits given Biden’s spending spree, but also the need to issue more long-dated debt because short-term borrowing is more expensive. Thanks, Janet. Gensler’s SEC land mines Speaking of cleaning up messes, SEC Chairman Gary Gensler announced last week he doesn’t plan to stick around until his term ends in 2026. His replacement is still in question as this column goes to press, though sources say long-time securities lawyer and ex-SEC commissioner Paul Atkins has the inside track. While Wall Street’s top cop won’t face the same existential worries being faced by the new Treasury secretary, it won’t be a cakewalk, either. “Cleaning up after Gensler is like avoiding land mines left behind by the retreating Japanese soldiers,” an SEC insider told me. Gensler, during his three-plus years as Biden’s SEC chair, basically defied the agency’s congressional mandate. He turned what’s essentially an investor-protection agency into a climate-activist arm of the Biden administration by trying to impose costly and absurd disclosures on public companies about their carbon footprint, nearly impossible to accurately gauge. His enforcement arm became a de facto regulator of the $3.5 trillion crypto business; instead of setting clear rules for the industry, he brought cases, stifling innovation of all-important blockchain technology in the US and pushing it overseas. Staff morale is at an all-time low due to Gensler’s brusque management style. I can go on, but I don’t want to scare whoever’s taking Gary’s place.
SKOPJE, North Macedonia (AP) — A political party in North Macedonia on Saturday demanded authorities ban social networks whose content incites violence and self-destructive behavior after several young people were seriously injured in connection with the popular “Superman challenge” on TikTok. Health authorities said at least 17 students, ages 10 to 17, were brought to hospitals in the capital Skopje and other towns over the past week with broken bones, contusions and bruises. The children were injured after being thrown into the air by their friends to fly like superheroes and get applause on the internet. The Liberal-Democratic Party, which was part of the left-led coalition that ruled the country from 2016 to earlier in 2024, issued a press statement Saturday strongly condemning “the irresponsible spread of dangerous content on social media, such as the latest TikTok ‘challenge’ known as ‘Superman,’ which has injured six children across (the country) in the past 24 hours.” “The lack of adequate control over the content of social media allows such ‘games’ to reach the most vulnerable users,” the party statement said. It demanded the “immediate introduction of measures to ban content that incites violence and self-destructive behavior, increase surveillance, and sanction platforms that enable dangerous trends.” North Macedonia’s education minister Vesna Janevska said students should focus on education, not TikTok challenges. “The ban on mobile phones in schools will not have an effect. Phones will be available to children in their homes, neighborhoods and other environments,” she said. Psychologists have warned that the desire to be “in” with the trends on social networks, combined with excessive use of mobile phones, is the main reason for the rise in risky behaviors among children. They urged parents and schools to talk with students.
Cathaoirleach of Donegal County Council Niamh Kennedy has praised the heroics efforts of her hometown people after the devastating floods which struck Killybegs overnight. Parts of the town were left submerged under water after a local river overflowed during Storm Bert. At least 16 homes and a number of business on Bridge Street were left under several feet of water. Among the businesses hit was the popular local Bridge Street Community Shop which lost a lot of stock as a result of the rising waters. However, an amazing response from both the emergency services and local volunteers saw an amazing clean-up operation get underway. The Bridge Street Community Shop was one of the premises worst hit. This evening, although battered and bruised, Killybegs has fought back. Councillor Kennedy thanked all those who helped in any way following the freak flooding. She posted “Clean up started after the devastating flooding, sandbags, skips delivered, emptied and delivered again. “Generators and dehumidifiers are in place, people needing accommodation sorted and community welfare assistance for the Bridge Street residents in urgent need will be available tomorrow from 12 to 2pm at Henry Kees office on the corner. “The business community will be assisted as soon as possible. “Thanks so much to our Killybegs and Glencolmcille fire officers and to our coast guard who were here to help all day. “To the roads staff of Donegal county council who delivered the skips, the sandbags, helped with the generators and cleared any debris, to the community who helped each other today THANK YOU.” Director of Emergency Services, Garry Martin, was also at the scene of today’s floods. He praised all those who responded to the call to assist at the scene. The Department of Social Protection has confirmed that the Humanitarian Assistance Scheme will be available to provide support to those living in properties directly affected by Storm Bert.SATURDAY'S BOWL GAMES
‘YOU’RE PART OF THE PROBLEM’: Bill Maher blasts Neil deGrasse Tyson in trans debateNone