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2023

Pakistan commission accepts ex-PM Sharif’s nomination for February poll

Pakistan commission accepts ex-PM Sharif’s nomination for February poll 150 150 admin

ISLAMABAD (Reuters) – Pakistan’s election commission on Thursday accepted former Prime Minister Nawaz Sharif’s nomination for the 2024 elections, weeks after a court overturned two graft convictions, ARY News reported.

But Sharif still needs the removal of a life ban on holding any public office to qualify to stand, so it was not immediately clear how his nomination was accepted. A hearing on that ban will be held in January.

Sharif was banned from running in elections by the Supreme Court in 2017 which declared him dishonest for not disclosing income from a company owned by his son.

More recently, a court overturned two convictions for graft.

Sharif, who arrived back home in October from four years of self-imposed exile in London, is bidding for a fourth premiership in the Feb. 8 elections.

Sharif’s biggest challenge will be to wrest back his support base from his main rival, former cricket hero Imran Khan, who, despite being in jail for graft, remains popular following his ouster from the premiership in 2022.

Khan, 71, is disqualified from the election because of the graft conviction, which he has appealed. Khan filed nomination papers for the election on Friday.

(Reporting by Kanjyik Ghosh; editing by Sudipto Ganguly and Nick Macfie)

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Social Security beneficiaries could see these big changes in 2024

Social Security beneficiaries could see these big changes in 2024 150 150 admin

Some big changes are in store for Social Security in 2024, including a top benefit approaching $5,000 a month, and higher taxes for some.
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Biggest two-month rally in decades rescues beaten-up bond markets

Biggest two-month rally in decades rescues beaten-up bond markets 150 150 admin

By Harry Robertson

LONDON (Reuters) – A huge two-month rally in bond prices, powered by expectations that central banks will soon be cutting interest rates, has rescued fixed income markets from an almost unheard-of third straight year of declines.

The U.S. 10-year Treasury yield, the benchmark for borrowing costs globally, has dropped 50 basis points (bps) in December after falling 53 bps in November. Its two-month fall is the biggest since 2008, when the Federal Reserve was slashing rates during the global financial crisis.

ICE BofA’s global broad bond market index, which includes government and corporate debt, has rallied roughly 7% over the last two months — its strongest eight-week period on record, according to LSEG data which goes back to 1997.

The sharp drop in yields, which move inversely to prices, has eased pressure on companies and households as well as housing markets and governments that in October faced the steepest borrowing costs in more than a decade.

It has also been a balm for highly indebted countries such as Italy, where bond yields are poised for their biggest monthly fall since 2013.

HAWKS TURN DOVISH

Central bankers abruptly changed their tone on inflation in December, fuelling investors’ rate-cut bets. That followed a blockbuster November, when data showed U.S. and European inflation falling much faster than expected.

“We were surprised by the strength of this rally,” said Oliver Eichmann, head of European fixed income at asset manager DWS.

The Fed’s Christopher Waller and the European Central Bank’s Isabel Schnabel, both previously renowned monetary policy hawks, softened their language in December and acknowledged – in Schnabel’s words – a “remarkable” fall in inflation.

The Fed triggered fresh market euphoria when it used its December meeting to say that rate hikes were over. Fed Chair Jerome Powell notably declined to push back against market bets on deep cuts next year, although the Fed’s “dot plot” envisaged three 25 bp cuts in 2024, compared to the more than 150 bps priced in by markets.

“That was a surprise,” said Jamie Niven, bond portfolio manager at asset manager Candriam. “And it does leave you with the question, what are they seeing that maybe the market isn’t?”

The riskier parts of the bond market, increasingly attractive as investors bet on rate cuts next year, have rallied the most.

Italy’s benchmark 10-year bond yield is on track to fall more than 75 bps in December, its biggest monthly drop since the euro zone debt crisis in 2013.

Meanwhile, the spread of junk bond yields over benchmark risk-free rates in the United States and Europe has fallen to its lowest level since the second quarter of 2022.

The two-month jump in bond prices has saved the market from the ignominy of a third year in the red, something not seen in 40 years or more, after two down years driven by inflation and rate hikes.

Bond indexes were in negative territory in October as U.S. growth and inflation kept surprising economists, bolstering the case for higher rates for longer.

The ICE BofA broad bond market index is now heading for an annual gain of around 5%.

Not all investors are convinced their luck will hold.

“It’s gone too far,” said DWS’s Eichmann. He expects more “push-back” from central bankers in the new year and fewer rate cuts than priced in by markets.

(Reporting by Harry Robertson; editing by Dhara Ranasinghe and Christina Fincher)

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Trump ballot ban appealed to US Supreme Court by Colorado Republican Party

Trump ballot ban appealed to US Supreme Court by Colorado Republican Party 150 150 admin

DENVER (AP) — The Colorado Republican Party on Wednesday appealed that state’s supreme court decision that found former President Donald Trump is ineligible for the presidency, the potential first step to a showdown at the nation’s highest court over the meaning of a 155-year-old constitutional provision that bans from office those who “engaged in insurrection.”

The first impact of the appeal is to extend the stay of the 4-3 ruling from Colorado’s highest court, which put its decision on pause until Jan. 4, the day before the state’s primary ballots are due at the printer, or until an appeal to the U.S. Supreme Court is finished. Trump himself has said he still plans to appeal the ruling to the nation’s highest court as well.

The U.S. Supreme Court has never ruled on Section 3 of the 14th Amendment, which was added after the Civil War to prevent former Confederates from returning to government. It says that anyone who swore an oath to “support” the constitution and then “engaged in insurrection” against it cannot hold government office.

The Colorado high court ruled that applies to Trump in the wake of his role in the Jan. 6, 2021, attack on the U.S. Capitol, intended to stop the certification of President Joe Biden’s victory in the 2020 presidential election. It was the first time in history that the provision was used to block a presidential contender’s campaign.

“The Colorado Supreme Court has removed the leading Republican candidate from the primary and general ballots, fundamentally changing the course of American democracy,” the party’s attorneys wrote. The filing was posted on the website of a group run by Jay Sekulow, a former attorney for Trump representing the Colorado Republican Party who announced he was filing the appeal Wednesday. Colorado Republican Party chairman Dave Williams also said the appeal was filed Wednesday.

The attorneys added: “Unless the Colorado Supreme Court’s decision is overturned, any voter will have the power to sue to disqualify any political candidate, in Colorado or in any other jurisdiction that follows its lead. This will not only distort the 2024 presidential election but will also mire courts henceforth in political controversies over nebulous accusations of insurrection.”

The U.S. Supreme Court is expected to take the case, either after the Colorado GOP’s appeal or Trump’s own appeal. If Trump ends up off the ballot in Colorado, it would have minimal effect on his campaign because he doesn’t need the state, which he lost by 13 percentage points in 2020, to win the Electoral College in the presidential election. But it could open the door to courts or election officials striking him from the ballot in other must-win states.

Sean Grimsley, an attorney for the plaintiffs seeking to disqualify Trump in Colorado, said on a legal podcast last week that he hopes the nation’s highest court hurries once it accepts the case, as he expects it will. “We obviously are going to ask for an extremely accelerated timeline because of all the reasons I’ve stated, we have a primary coming up on Super Tuesday and we need to know the answer,” Grimsley said.

More than a dozen states, including Colorado, are scheduled to hold primaries March 5 — Super Tuesday.

To date, no other court has sided with those who have filed dozens of lawsuits to disqualify Trump under Section 3, nor has any election official been willing to remove him from the ballot unilaterally without a court order.

The Colorado case was considered the one with the greatest chance of success, however, because it was filed by a Washington D.C.-based liberal group with ample legal resources. All seven of the Colorado high court justices were appointed by Democrats.

However, the unprecedented constitutional questions in the case haven’t split on neatly partisan lines. Several prominent conservative legal theorists are among the most vocal advocates of disqualifying Trump under Section 3. They argue the plain meaning of the constitutional language bars him from running again, just as clearly as if he didn’t meet the document’s minimum age of 35 for the presidency.

The half-dozen plaintiffs in the Colorado case are all Republican or unaffiliated voters.

Trump has been scathing about the cases, calling them “election interference.” He continued that on Wednesday as he cheered a ruling earlier that day by the Michigan Supreme Court leaving him on the ballot, at least for the primary, in that state.

“The Colorado people have embarrassed our nation with what they did,” Trump said on Sean Hannity’s radio show.

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KEYWORD NOTICE – Depardieu row exposes divide in France over thinking on sexism

KEYWORD NOTICE – Depardieu row exposes divide in France over thinking on sexism 150 150 admin

By Richard Lough

PARIS (Reuters) – An open letter penned by dozens of actresses and other artists in defense of Gerard Depardieu, the cinema giant accused of sexual harassment, has laid bare divisions in France over the #Metoo reckoning with sexism.

Actresses Nathalie Baye and Carole Bouquet – a former partner of Depardieu – as well as singer and former first lady Carla Bruni were among the more than 50 household cultural figures who called Depardieu the victim of a public “lynching”.

Entitled ‘Don’t Cancel Gerard Depardieu’, the letter published this week in conservative daily Le Figaro alleged Depardieu had been the recipient of a “torrent of hatred”.

“We can no longer remain silent in the face of the lynching that has descended upon him,” the letter’s authors wrote.

“Gerard Depardieu is probably the greatest of all actors. When you attack Gerard Depardieu like this, it is art you are attacking.”

Depardieu, 75, who has starred in scores of French-language movies, rising to prominence in 1974 with “Going Places”, has been at the centre of a growing number of sexual assault allegations in recent years.

In March, 2022, investigative magistrates placed Depardieu under formal investigation in one case on suspicion of rape and sexual assault. Actress Charlotte Arnould, 28, later revealed she was behind those accusations, saying she could not bear remaining silent any longer. Since then, more than 10 women have accused Depardieu of sexual violence.

Depardieu has consistently denied any wrongdoing and through his lawyers previously “firmly rejected” the accusations against him.

“Never, absolutely never, have I abused a woman,” he wrote in an Oct. 2 letter also published in Le Figaro. He has not been convicted of any of the accusations against him.

President Emmanuel Macron rallied to the defense of Depardieu shortly before Christmas, when asked in an interview about his culture minister’s plans to review Depardieu’s Legion d’Honneur medal – France’s highest decoration.

Macron condemned the “manhunt” against Depardieu without expressing sympathy for his alleged victims. “He’s an immense actor, a genius of his art,” Macron said. “He makes France proud.”

GENERATIONAL DIVIDE

The president’s remarks and Monday’s letter drew dismay from feminists and younger actresses who decry an attempt to drown out the voices of victims of sexual violence and undermine the #Metoo movement against sexual harassment in France.

“There’s a generation that still doesn’t understand this societal evolution,” Murielle Reus, vice president of #MeTooMedia which campaigns against sexism and sexual misconduct in the media, said in a radio interview this week.

Critics of the #Metoo campaign in France accuse it of a puritanical fight fuelled by a contempt for men and the art of seduction.

Catherine Deneuve, one of France’s best known actresses, was among 100 French women who in 2018 wrote a newspaper column accusing the #Metoo campaign of going too far.

“We defend a right to pester, which is vital to sexual freedom,” they said.

Earlier this month, public broadcaster France 2 ran a documentary, Depardieu: The Fall of an Ogre, which showed the actor making lewd comments to women during a 2018 trip to North Korea and featured interviews with Arnould and another actress, Helene Darras, who in September filed a lawsuit against Depardieu alleging sexual assault.

Berenice Hamidi, a lecturer at the Lumiere Lyon 2 university said it was unsurprising the global #Metoo movement was born out of the U.S. cinema industry, where she said livelihoods can be precarious and the boundaries of fact and fiction blurred.

“There is a real cultural exception in French cinema, which refuses to consider acts committed by artists as violence and to condemn them,” Hamidi told franceinfo radio.

Depardieu told RTL radio he considered those who wrote this week’s open letter to be “very courageous”.

(Reporting by Richard Lough; Editing by Alexandra Hudson)

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Gaza death toll surpasses 21,000, health ministry says

Gaza death toll surpasses 21,000, health ministry says 150 150 admin

As Israel continues its bombardment of Gaza, the death toll has now surpassed 21,000, according to the Hamas-run Ministry of Health. Ian Lee reports.
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Mom says pregnant Texas teen found dead was "there at the wrong time"

Mom says pregnant Texas teen found dead was "there at the wrong time" 150 150 admin

Savanah Nicole Soto’s family said the pregnant teen was in a “rocky” relationship but was excited about having the baby.
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Futures mixed as year end approaches; rate cuts in focus

Futures mixed as year end approaches; rate cuts in focus 150 150 admin

(Reuters) – U.S. stock index futures were mixed on Thursday, in light trading on the penultimate trading day of 2023, even as benchmark S&P 500 hovers around its all-time high on hopes of early interest rate cuts next year.

Gains in megacap stocks in premarket trading kept the Nasdaq futures higher, while those tied to the S&P 500 remained subdued.

Wall Street managed to eke out some gains on Wednesday as all three indexes oscillated between modest gains and losses throughout the session, but finished higher for the day. All the indexes are on course for monthly, quarterly, and annual gains.

Focus will now be on the S&P 500. A closing above the January record close of 4796.56 would confirm the bellwether index entered a bull market after it hit the bear market closing trough in October 2022.

Traders will be closely monitoring the weekly jobless claims due at 8:30 a.m. ET as it is the last catalyst to influence the direction of markets before the end of 2023.

Optimism around early rate cuts with a possible soft landing for the American economy next year, and the artificial intelligence frenzy powered a rally in U.S. stocks in 2023, but fears of the economy slowing more sharply still persist as the full effect of higher borrowing costs filters through.

“Goldilocks is being counted on to make an appearance next year, with inflation cooling but the US economy staying warm enough, though there is still a risk that the bears return to prowl again,” said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

Money markets have priced in an 86% probability that policymakers will reduce the Fed funds target rate by at least 25 basis points at the conclusion of their March policy meeting, according to CME’s FedWatch tool.

At 6:13 a.m. ET, Dow e-minis were down 49 points, or 0.13%, S&P 500 e-minis were up 0.75 points, or 0.02%, and Nasdaq 100 e-minis were up 37.75 points, or 0.22%.

Among individual stocks, U.S.-listed shares of Chinese companies rose in premarket trading as China’s blue-chip stocks staged their biggest jump in five months on Thursday on strong foreign inflows.

Shares of Alibaba Holdings, PDD Holdings and JD.Com Inc advanced between 1.4% and 3.7%.

(Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Shinjini Ganguli)

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Germany in talks with EU partners on Red Sea maritime mission

Germany in talks with EU partners on Red Sea maritime mission 150 150 admin

BERLIN (Reuters) – Germany and its European Union partners are examining whether they could mount a new maritime mission to protect commercial vessels under threat of attack in the Red Sea, a foreign ministry spokesperson said on Thursday.

“We as the German government are ready for this. It is important that we as the EU are able to act as quickly as possible in view of the ongoing attacks,” the spokesperson said, adding that a decision on the matter had not yet been taken.

The Iran-backed Houthis have attacked or seized a dozen ships with missiles and drones since Nov. 19, trying to inflict an international cost for Israel’s war against Hamas in Gaza, which followed the militants’ deadly Oct. 7 rampage in the south of the country.

The United States has been spearheading a new maritime force, known as Operation Prosperity Guardian, to respond to the attacks by Yemen’s Houthis, but some allies have been reluctant.

Germany is continuing to examine the question of possible participation in the U.S.-led mission, added the spokesperson.

There have also been talks in Brussels about extending an existing EU anti-piracy mission, Atalanta, to protect Red Sea shipping, but no decision has been made, said the spokesperson.

Spanish Prime Minister Pedro Sanchez had said on Wednesday that he was willing to consider the creation of a different mission to tackle the problem, after Spain said it opposes expanding Atalanta and would not join the U.S.-led maritime force.

(Reporting by Miranda Murray, Editing by Rachel More, Alexandra Hudson)

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Herb Kohl, former U.S. senator and ex-owner of the Bucks, dies at 88

Herb Kohl, former U.S. senator and ex-owner of the Bucks, dies at 88 150 150 admin

Kohl was a popular figure in Wisconsin, purchasing the Bucks to keep them from leaving town and spending generously on civic and educational causes throughout the state.
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