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Tonga tsunami: Anxious wait for news after Tonga cut off

BBC News - World - Mon, 01/17/2022 - 17:55
Two days on, the scale of the damage is unclear, with communications extremely limited.

Can China maintain its ‘zero-COVID’ strategy?

Al Jazeera - Mon, 01/17/2022 - 17:54
Small outbreaks continue to trigger lockdowns and travel restrictions for 1.4 billion Chinese people.

Investor Bill Ackman says the Federal Reserve needs a 'shock and awe' rate hike in order to restore its credibility with markets.

Businessinsider - Mon, 01/17/2022 - 17:47
Bill Ackman is a billionaire investor and hedge fund manager.
  • Investor Bill Ackman said the Federal Reserve should deliver a bigger rate hike to restore its credibility with markets.
  • Ackman said the Fed is losing the battle against inflation, which is at its highest in 40 years.
  • Markets show investors expect at least 4 rate hikes in 2022.

Billionaire hedge fund manager Bill Ackman said the Federal Reserve needs to deliver a big interest rate hike to restore its credibility and "shock and awe" the market.

In a series of tweets on January 15, Ackman said, "The @federalreserve could work to restore its credibility with an initial 50 bps surprise move to shock and awe the market, which would demonstrate its resolve on inflation."

Ackman said the Fed was losing the battle against inflation, which has risen to its highest in almost 40 years, as the economy has reopened and created shortages of raw materials and even available workers. 

Ackman said the central bank was behind the curve and added that there would be "painful economic consequences for the most vulnerable," He questioned whether three or four interest-rate rises this year would be enough. 

Financial markets reflect an expectation that the Federal Reserve will raise interest rates four times this year, according to CME Group's FedWatch tool, starting with a 25 basis-point increase in March. 

Major banks such as Goldman Sachs and Deutsche Bank expect four rate hikes this year. JPMorgan CEO Jamie Dimon said that the Fed may raise interest rates as many as seven times this year. 

Inflation is at a 40-year high, with the consumer price index (CPI) up 7% in December 2021 from the previous year. This was the largest 12-month rise since 1982. 

The Fed has not raised interest rates by more than 25 bps at a time since 2000. 

The Fed slashed its main interest rates, the federal funds rate, to a record low target range of between 0% and 0.25% in the spring of 2020 during the onset of the Covid pandemic. 

Ackman said the Fed's larger-than-expected 50 bps hike could prevent the need for more aggressive action in the future. 

"A 50 bp initial move would have the reflexive effect of reducing inflation expectations, which would moderate the need for more aggressive and economically painful steps in the future," he tweeted. 

Fed Chairman Jerome Powell said last week that it would take higher interest ratesand tighter monetary policy to rein in consumer inflation and the economy was strong enough to withstand both. 

Read the original article on Business Insider

Texas synagogue siege: Teens held in UK as Briton named as hostage-taker

BBC News - World - Mon, 01/17/2022 - 17:36
Briton Malik Faisal Akram died in the standoff with police after taking four hostages.

Bitcoin could tumble below $30,000 this year as the crypto bubble pops, Invesco says

Businessinsider - Mon, 01/17/2022 - 17:35
Bitcoin slumped Wednesday and into Thursday.
  • Bitcoin could fall below $30,000 in 2022 as air leaves the crypto bubble, Invesco said in its "improbable but possible" forecasts.
  • Invesco strategist Paul Jackson said the marketing around bitcoin reminds him of the run-up to the 1929 crash.
  • If bitcoin follows the trend of other manias, then a rocky couple of years lie ahead, he predicted.

Bitcoin could tumble below $30,000 this year as the air comes out of the crypto bubble, according to Invesco's list of "improbable but possible" outcomes for 2022.

"The mass marketing of bitcoin reminds us of the activity of stockbrokers in the run-up to the 1929 crash," Paul Jackson, the US investment company's global head of asset allocation, said in a note Monday.

"We think it is not too much of a stretch to imagine bitcoin falling below $30,000 this year," Jackson said, adding he believes there's at least a 30% chance of it happening.

Bitcoin soared in 2021 from around $33,000 at the start of the year to as high as $69,000 in November, before falling to end the year at roughly $46,000. The world's first and biggest cryptocurrency has since slumped further to trade at around $42,319 as of Monday, according to prices on the Bitstamp exchange.

Jackson said bitcoin could be seen as a financial mania, meaning steep losses could soon be on their way.

Read more: 2022 bitcoin price outlook: Here are the price targets set by top analysts from Goldman Sachs, JPMorgan, and other leading Wall Street banks so far this year

"A loss of 45% is experienced in the 12 months after the peak of a typical financial mania," he wrote.

If bitcoin follows that pattern, its price will fall to between $34,000 and $37,000 by October. But Jackson said a steeper drop is possible, and the digital asset could slip below $30,000.

But that scenario is far from certain, the Invesco strategist cautioned. "Last year, we spoke of bitcoin falling below $10,000, but instead it reached a peak of around $68,000," he noted.

Yet there are growing signs that investors are worried about the outlook for bitcoin and cryptocurrencies.

Investment bank UBS published a note last week looking at whether the space might be headed for a new "crypto winter" – a period when prices fall sharply and fail to recover for more than a year.

Interest rate hikes from the Federal Reserve in 2022 could well dent the appeal of cryptocurrencies such as bitcoin in the eyes of many investors, according to the UBS analysts, led by James Malcolm.

They also said there's also a growing realization among crypto investors that bitcoin is not "better money," because it's highly volatile and its limited supply makes it inflexible.

Read the original article on Business Insider

Turkey defies European deadline to release Osman Kavala from jail

Al Jazeera - Mon, 01/17/2022 - 17:27
Council of Europe reportedly called for the jailed businessman and philanthropist to be released by February 2.

UK to task military with stopping migrant boat crossings: Reports

Al Jazeera - Mon, 01/17/2022 - 17:26
Critics slam PM Boris Johnson for 'inhumane' reported plan to put the navy in charge of English Channel operations.

Yellen: US economy has ‘never worked fairly for Black Americans’

Al Jazeera - Mon, 01/17/2022 - 17:22
Secretary of the US Treasury highlights the racial wealth gap in MLK day speech.

Romney says he never got a call from the White House asking him to support a voting-rights bill

Businessinsider - Mon, 01/17/2022 - 17:22
Sen. Mitt Romney of Utah.
  • Sen. Romney criticised Biden for not creating more bipartisan support for a voting-rights bill. 
  • He said he "never got a call" seeking his support in building a consensus. 
  • Romney said he was working with a bipartisan group to pass a narrower bill. 

Republican Sen. Mitt Romney of Utah said he "never got a call from the White House" seeking his support to help broker a bipartisan voting-rights bill. 

Speaking on NBC's "Meet the Press" Sunday morning, Romney was critical of President Joe Biden as he approaches his first year in office, saying that he should done more to build bipartisanship. 

—Senator Mitt Romney (@SenatorRomney) January 16, 2022

"Things are not going well. And the president needs to stop and reset and say what is it he's trying to accomplish? And if it's to try and transform America, he is not going to unite us," said Romney, who was the Republican Party's presidential candidate in 2012.

"Bringing us together means finding a way to work on a bipartisan basis. He had one success, the infrastructure bill, and that was done by Republicans and Democrats in the Senate working together. Build on that kind of success."

Host Chuck Todd asked Romney whether he'd be willing to work with the White House on reforming voting. 

"Sadly, this election reform bill that the president has been pushing, I never got a call on that from the White House," said Romney.

"There was no negotiation bringing Republicans and Democrats together to try and come up with something that would meet bipartisan interest. Sure, we can work together on almost every issue where there's common ground."

Romney said he was already involved in an attempt by a group of 12 Republican and Democratic senators to rally bipartisan support around a more modest voting-rights act, known as the Electoral Reform Act. 

The act stops short of the sweeping measures to protect elections sought by Biden, who says that Republican-controlled state legislatures are seeking to undermine elections by limiting opportunities to vote. 

The Electoral Reform Act instead makes changes to the way elections are certified by Congress. Biden's certification as president on Jan. 6 2021 was a target the Trump supporters who stormed the US Capitol.

Romney went on to criticise the more expansive measures championed by Biden, which he said amounted to a "federalized takeover" of elections, which he said had been delegated by the Founding Fathers to be conducted by states to avoid an autocrat seizing control of them. 

He also said in the interview that Biden had been elected to "stop the crazy" and reintroduce stability into US politics after the tumultuous years of the Trump administration, not to conduct sweeping reforms. 

Though a staunch critic of Trump and one of the Senate's leading GOP moderates, Romney voted against both of the voting-rights bills that Democrats have sought to pass in 2021, helping defeat them in the Senate as they failed to obtain a filibuster-proof 60 vote majority.

Read the original article on Business Insider

Rusland sender endnu en bøde efter Google

Computerworld: Seneste om teknologi - Mon, 01/17/2022 - 17:17
Endnu en dag og endnu en bøde fra Rusland til Google, for ikke at fjerne indhold fra sin søgemaskine, som er ulovligt at tilgå efter russiske standarder.
Categories: IT

‘Deltacron’: Should we worry about new COVID-19 variants merging?

Al Jazeera - Mon, 01/17/2022 - 17:13
Experts say two variants can cross over to form a recombinant version of both variants but this has not happened yet.

LIVE Danmark er allerede videre, men nu gælder det Nordmakedonien

DR Sporten - Mon, 01/17/2022 - 17:00
Følg Danmarks kamp ved håndbold-EM mod Nordmakedonien her.
Categories: Sport

Palestinian family protests East Jerusalem home displacement

Al Jazeera - Mon, 01/17/2022 - 16:55
Israeli forces surround Mahmoud Salhiyeh's house in an attempt to force his family out of their Sheikh Jarrah home.

How Netflix, Disney+, and other streaming services are changing the global TV industry

Businessinsider - Mon, 01/17/2022 - 16:47
"Squid Game."

Netflix has showcased the power of global TV with hits like "Money Heist" and "Squid Game," and other entertainment companies have been following its lead in expanding their streaming services internationally.

Disney's platforms including Disney+, Hulu, and Star are now in six continents. WarnerMedia's HBO Max has landed in Latin America and Europe, with Asia next on the horizon. And NBCUniversal, ViacomCBS, and Discovery are bringing their services in more parts of the world. 

But, the approach isn't one-size-fits-all. 

Netflix spent years forging ties with local creators around the world before it landed hits like the South Korean show "Squid Game" and the French heist series "Lupin."

Read more about why Netflix's robust international TV strategy is far ahead of rivals.

HBO Max, which expanded into Latin America and Europe last year, is also leaning into local-language programming, and ramping up development of non-scripted programming in places like Europe.

Read more about HBO Max's European expansion.

But Disney, on the other hand, leaned on sports to propel its streaming service Disney+ in places including India. Amazon is also investing heavily in local content in India ,where it's been growing its Prime shipping business. 

Content is king, as they say. But it's not the only differentiator for global streamers. 

In the Middle East, local streamer StarzPlay grew market share by tailoring its payments strategy for consumers who don't have credit card. Its payments strategy includes partnerships with 26 regional telecoms; monthly, weekly, and daily subscription plans that vary by country; and options like micro-charges.

Read more about how StarzPlay's payment strategy helped it gain market share in the Middle East and North Africa

As competition intensifies, companies from Netflix and StarzPlay will need to get more creative in how they leverage partnerships to grow the overall audience for streaming TV worldwide. 

Here's a list of our recent coverage of how streaming is upending the global TV industry: 

Streaming's impact on global TV:

On filmmaking:

On corporate strategies:

On organizational structures:

On leadership:

On M&A: 

On industry growth:

On ad-supported video: 

On work:

On salaries:

Read the original article on Business Insider

Palestinian killed by Israeli army after alleged stabbing attack

Al Jazeera - Mon, 01/17/2022 - 16:41
A Palestinian tried to stab an Israeli soldier at the Gush Etzion junction and has been shot dead by him, army says.