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Yearly Archives :

2025

The Media Line: Ex-Defense Minister Gallant Resigns, Criticizes Judicial Overhaul and Ultra-Orthodox Exemptions

The Media Line: Ex-Defense Minister Gallant Resigns, Criticizes Judicial Overhaul and Ultra-Orthodox Exemptions 150 150 admin

Ex-Defense Minister Gallant Resigns, Criticizes Judicial Overhaul and Ultra-Orthodox Exemptions

Former Israeli defense minister Yoav Gallant announced his resignation from the Knesset on Wednesday, citing policy disagreements within Prime Minister Benjamin Netanyahu’s Likud party. Gallant will remain a member of the party but said he could not support recent government moves on judicial reform and military enlistment.

In a televised statement, Gallant reflected on his decades of military and political service, taking credit for weakening the military capabilities of Hamas, Hezbollah, and Iran. He also assumed responsibility for Israel’s preparedness ahead of the devastating October 7 Hamas assault, as well as for the ongoing war. “As on the battlefield, so too in public service, there are moments when you have to stop to assess the situation and choose the course of action,” Gallant said. He added that his “journey is not yet complete.”

Gallant sharply criticized the government’s judicial overhaul, calling it a “clear and immediate danger.” He also argued for universal military enlistment, emphasizing that the inclusion of ultra-Orthodox Israelis is a “military necessity.” He accused Netanyahu and Defense Minister Israel Katz of advancing plans to exempt ultra-Orthodox citizens from service, a policy he said he could not support.

The announcement comes after months of tension between Gallant and Netanyahu, including Gallant’s absence on Tuesday during a critical budget vote, which saw Netanyahu leave his hospital bed to participate. In March, Netanyahu fired Gallant after he opposed the judicial overhaul, only to reinstate him amid public protests.

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Australian home prices finally cool as 2024 comes to an end

Australian home prices finally cool as 2024 comes to an end 150 150 admin

SYDNEY (Reuters) – Australia’s home prices marked the first monthly decline in almost two years in December as high mortgage rates stretched affordability and more sellers emerged after a long run of gains.

Figures from property consultant CoreLogic, released on Thursday, showed prices across the nation dipped 0.1% in December from the prior month, while values in the major capitals fell 0.2%.

Sydney prices slipped by 0.6% in December, while Melbourne lost 0.7%. Brisbane, Perth and Adelaide all continued to enjoy monthly gains.

“Growth in housing values has been consistently weakening through the second half of the year, as affordability constraints weighed on buyer demand and advertised supply levels trended higher,” said Tim Lawless, CoreLogic’s research director.

Property values were still up 4.9% for 2024 as a whole, adding about A$38,000 to the median value of a home, which in Sydney now stands at A$1.2 million ($745,680.00).

The government statistician estimates the value of land and housing held by households rose by A$851 billion in the year to September, reaching a notional A$11.3 trillion.

The strength of the market over the past couple of years has surprised policy makers given interest rates had hit 12-year highs of 4.35% late in 2023.

The Reserve Bank of Australia (RBA) recently opened the door to a rate cut as early as February but markets expect only a modest easing to around 3.60% over 2025.

“It will take a lot more than three or four rate cuts to get interest rates back to the pre-pandemic decade average of 2.55%,” noted Lawless.

“So we don’t expect lower rates to be the catalyst for a renewed phase of strong value growth.”

A Reuters poll in November forecast home prices to rise around 5% in both 2025 and 2026, due in part to strong population growth and a lack of new supply.

($1 = 1.6093 Australian dollars)

(Reporting by Wayne Cole; Editing by Sam Holmes)

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What we know about the New Orleans truck attacker

What we know about the New Orleans truck attacker 150 150 admin

CBS News congressional correspondent Scott MacFarlane has the latest details on what we know about the man who hit and killed at least 15 people in a truck attack early Wednesday morning in New Orleans.
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North Carolina’s latest Democratic governor is sworn in

North Carolina’s latest Democratic governor is sworn in 150 150 admin

RALEIGH, N.C. (AP) — North Carolina’s latest Democratic governor was sworn into office on Wednesday, as Josh Stein succeeded Roy Cooper in a top elected position for the second time in eight years.

During a small ceremony inside the old Senate chamber of the 1840 Capitol building, Stein took the oath from Supreme Court Chief Justice Paul Newby. His wife, Anna, family and friends and state officials watched, including Cooper.

“Today I stand before you humbled by this responsibility, grateful for this opportunity and ready to get to work for you, the people of North Carolina,” Stein said in a speech.

By defeating GOP Lt. Gov. Mark Robinson in November by almost 15 percentage points, Stein continued a run of Democrats leading the executive branch in the nation’s ninth-largest state, even as Republicans have recently dominated the General Assembly and appellate courts. Democrats have won eight of the last nine gubernatorial elections since 1992.

Stein had been attorney general for the past eight years, following Cooper in the elected law-enforcement post.

Cooper was barred by the state constitution from seeking a third consecutive gubernatorial term.

Cooper, who delivered opening remarks, said to his successor: “Governor, this will be the best job you have ever had.”

Stein’s powers have already been challenged by Republican lawmakers, who last month overrode a Cooper veto of a wide-ranging measure that erodes the governor’s authority to manage elections, fill appellate court vacancies and pick his own Highway Patrol commander. Cooper and Stein sued recently to block the Highway Patrol and state election board changes.

Stein made no direct references to the legal battles Wednesday. He praised Cooper’s leadership and urged bipartisanship and the rejection of “the politics of division, fear and hate that keep us from finding common ground” to succeed in priorities that he highlighted.

“The time is now to build a safer, stronger North Carolina, where our economy continues to grow and works for more people, where our public schools are excellent and our teachers are well paid, where our neighborhoods are safe and our personal freedoms are protected,” Stein said.

He also said the state must “act with urgency” to help western North Carolina recover from the historic flooding caused by Hurricane Helene in September, particularly with housing, small businesses and infrastructure. Congress last month approved legislation that will bring at least $9 billion more in storm aid to North Carolina.

Stein planned Thursday to announce in Asheville executive orders to support Helene recovery efforts.

Stein, 58, grew up in Charlotte and Chapel Hill, the son of a noted civil rights lawyer. He graduated from Harvard Law School and gained notice as the campaign manager for John Edwards when he was elected to the U.S. Senate in 1998. He also served as a Raleigh-area senator before being elected attorney general for the first time in 2016.

Stein, who is the state’s first Jewish governor, placed his hand for the oath Wednesday on an 1891 edition of the Tanakh, the Hebrew Bible provided by a woman whose ancestors settled in Charlotte and later in Statesville in the 1850s, according to Stein’s office.

Stein and Cooper then participated in the formal transfer of an historic embossing device that creates the state seal — a symbol of the governor’s authority.

Wednesday’s ceremony of close to 100 people was livestreamed. A larger, outdoor inauguration for Stein and other elected members of the Council of State is set for Jan. 11.

Since the state constitution says their terms begin Jan. 1, many council members took formal oaths Wednesday including new Lt. Gov. Rachel Hunt, State Auditor Dave Boliek and Superintendent of Public Instruction Mo Green.

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US Treasury’s sanctions office hacked by Chinese government, Washington Post reports

US Treasury’s sanctions office hacked by Chinese government, Washington Post reports 150 150 admin

WASHINGTON (Reuters) – The U.S. Treasury Department’s sanctions office was hacked by the Chinese government, the Washington Post reported on Wednesday, citing unnamed officials.

The department earlier this week disclosed in a letter to lawmakers that Chinese state-sponsored hackers stole documents in what Treasury called a “major incident.”

(Reporting by Jasper Ward; Editing by Scott Malone)

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Tesla Cybertruck explodes outside Trump Hotel in Las Vegas, killing 1

Tesla Cybertruck explodes outside Trump Hotel in Las Vegas, killing 1 150 150 admin

The explosion outside the Trump International Hotel Las Vegas on New Year’s Day is being investigated as a possible act of terrorism, sources said.
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Experts from U.S. join South Korea plane crash probe

Experts from U.S. join South Korea plane crash probe 150 150 admin

Experts from the National Transportation Safety Board, Federal Aviation Administration and Boeing joined the probe into the South Korea plane crash that killed all but two of the 181 people on board. Ramy Inocencio has the latest.
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Power is restored to nearly all of Puerto Rico after a major blackout

Power is restored to nearly all of Puerto Rico after a major blackout 150 150 admin

BAYAMÓN, Puerto Rico (AP) — Power was restored to nearly all electrical customers across Puerto Rico on Wednesday after a sweeping blackout plunged the U.S. territory into darkness on New Year’s Eve.

By Wednesday afternoon, power was back up for 98% of Puerto Rico’s 1.47 million utility customers, said Luma Energy, the private company overseeing transmission and distribution of power in the archipelago. Lights returned to households as well as to Puerto Rico’s hospitals, water plants and sewage facilities after the massive outage that exposed the persistent electricity problems plaguing the island.

Still, the company warned that customers could still see temporary outages in the coming days. It said full restoration across the island could take up to two days.

“Given the fragile nature of the grid, we will need to manage available generation to customer demand, which will likely require rotating temporary outages,” Juan Saca, president of Luma Energy, said in a statement.

The lights went off in Puerto Rico at 5:30 a.m. on Tuesday, darkening almost the entire archipelago as people prepared to ring in the New Year. Authorities are still investigating the cause of the outage, but Luma Energy said a preliminary review pointed to a failure in an underground electric line in the south of the territory.

Governor-elect Jenniffer González Colón, who is set to take office on Thursday, warned that customers might experience interruptions in the coming days, with power plants not yet operating at maximum capacity.

“These days, I urge you to be moderate with your energy consumption to help reduce load shifting, so that more people can have access to electricity and the system can start up without any major setbacks,” González Colón said on social media platform X.

On the campaign trail, González Colón had promised to appoint an “energy czar” to oversee the operation of the power grid, which has long been fragile and faulty due to years of neglect.

The island’s power grid was ravaged in September 2017 by Hurricane Maria, a Category 4 storm.

Unreliable electricity remains frustratingly common, hindering daily life for Puerto Ricans. In June, over 340,000 customers were left without electricity as people reeled from soaring temperatures. At the peak of Hurricane Ernesto, in August, over half of all utility customers lost power. Tens of thousands of people remained without electricity a week after the storm.

The New Year’s Eve outage came as clients brace for a hike in electricity rates. Last month, Puerto Rico’s Energy Bureau approved an increase of 2.2 cents per kilowatt hour for residential customers from January through March, causing electric bills for the average household to jump by nearly $20, the Energy Bureau says.

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Wall Street ends lower, capping a banner year

Wall Street ends lower, capping a banner year 150 150 admin

By Stephen Culp

NEW YORK (Reuters) -Wall Street lost ground on Tuesday as investors closed the book on a remarkable year for equities, during which the U.S. stock market was powered to record highs by the twin engines of the artificial-intelligence boom and the U.S. Federal Reserve’s first interest rate cuts in three-and-a-half years.

The three major U.S. stock indexes closed in negative territory, ending a languid, low-volume session that contrasted with the tumultuous year that preceded it.

2024 included intensifying geopolitical strife, a U.S. presidential election and shifting speculation regarding the path of Fed policy in the coming year.

“There’s no Santa Claus rally this week, but investors received the gift of gains in 2024,” said Greg Bassuk, chief executive officer at AXS Investments in New York. “2024 was a massive year for equity gains driven by a trifecta of the AI explosion, a slew of Fed interest rate cuts and a robust U.S. economy.”

“It sets the stage for continued strength heading into 2025,” Bassuk added.

For 2024, the Nasdaq surged 28.6%, while the bellwether S&P 500 notched a 23.3% gain, marking the index’s best two-year run since 1997-1998.

The blue-chip Dow posted a 12.9% advance for the year.

Among the 11 major sectors of the S&P 500, communication services, technology and consumer discretionary were 2024’s big percentage gainers, jumping between 29.1% and 38.9% on the year.

Healthcare, real estate and energy were the only sectors that registered single-digit gains, while the materials sector was the sole 2024 decliner, dropping nearly 1.8%.

For the fourth quarter, the Nasdaq jumped 6.2%, while the S&P 500 advanced 2.1%. The Dow eked out a 0.5% gain for the October-December period.

The Dow Jones Industrial Average on Tuesday fell 29.51 points, or 0.07%, to 42,544.22, the S&P 500 lost 25.31 points, or 0.43%, to 5,881.63 and the Nasdaq Composite lost 175.99 points, or 0.90%, to 19,310.79.

Looking ahead to 2025, financial markets are now pricing in about 50 basis points of additional interest rate cuts from the Fed, with investors eying stretched valuations and uncertainties surrounding tax and tariff policies from the administration of President-elect Donald Trump.

“Investors should be cautious regarding the impact of the incoming Trump administration and how that affects certain sectors,” Bassuk said, adding that “the instability driven by geopolitics, specifically the Russia/Ukraine war and continued strife in the Middle East could trigger consternation” in companies and sectors with ties to the affected regions.

Bassuk believes the AI boom still has room to grow.

“Valuations have become lofty amid the stock run up, but because we believe that the growth in AI is set to continue and move beyond hardware to software in a massive way across most sectors,” he added.

Advancing issues outnumbered decliners by a 1.3-to-1 ratio on the NYSE. There were 52 new highs and 125 new lows on the NYSE.

On the Nasdaq, 2,013 stocks rose and 2,336 fell as declining issues outnumbered advancers by a 1.16-to-1 ratio.

The S&P 500 posted 2 new 52-week highs and one new low while the Nasdaq Composite recorded 43 new highs and 71 new lows.

Volume on U.S. exchanges was 14.59 billion shares, compared with the 14.81 billion average for the full session over the last 20 trading days.

(Reporting by Stephen Culp in New YorkAdditional Reporting by Johann M Cherian, Pranav Kashyap and Purvi Agarwal in BengaluruEditing by Matthew Lewis)

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Palestinian Authority suspends broadcast of Qatar’s Al Jazeera TV temporarily

Palestinian Authority suspends broadcast of Qatar’s Al Jazeera TV temporarily 150 150 admin

CAIRO (Reuters) -The Palestinian Authority temporarily halted operations of Qatar’s Al Jazeera television in the territory including its broadcasts, citing the network’s dissemination of “inciting material,” the Palestinian news agency WAFA said on Wednesday.

The culture, interior and communications ministers made the decision jointly because the channel broadcast material that was “deceiving and stirring strife,” WAFA said without providing details on the subject matter.

The order said the decision was temporary but did not specify an end date.

The Palestinian Authority criticised Al Jazeera last week over its coverage of the weeks-long standoff between Palestinian security forces and militant fighters in the Jenin camp in the Israeli-occupied West Bank.

Al Jazeera denounced Wednesday’s decision as “an attempt to discourage it from reporting spiraling events in the occupied territories,” according to a statement.

It called on the Palestinian Authority to rescind the decision and allow its journalists to report freely from the West Bank without intimidation.

The decision was not expected to be implemented in Hamas-run Gaza where the Palestinian Authority does not exercise power.

Fatah, the faction that controls the Palestinian Authority, said the broadcaster was sowing division in “our Arab homeland in general and in Palestine in particular”. It encouraged Palestinians not to cooperate with the network.

The Israeli military in September raided Al Jazeera’s bureau in the West Bank city of Ramallah and ordered it shut.

Israel in May issued an order barring the channel from operating and broadcasting in the country, saying it posed a threat to Israeli security. A court subsequently upheld the ban.

(Reporting by Nidal al-Mughrabi and Ali Sawafta; Writing by Menna Alaa; Editing by Alistair Bell and Cynthia Osterman)

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