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2025-01-10   

voice of genie in aladdin INDIANAPOLIS — Jahmyr Gibbs rushed for two scores and David Montgomery added a third touchdown run Nov. 24, leading the Detroit Lions to a 24-6 victory at the Indianapolis Colts. Gibbs finished with 21 carries for 90 yards as the Lions (10-1) extended their league-high winning streak to nine straight. Detroit has its been 11-game record since the franchise’s inaugural season in 1934. Jared Goff continued his sensational season, too, completing 26 of 36 throws for 269 yards. The Colts (5-7) lost their second straight home game and for the fourth time in their past five games. Anthony Richardson was 11 [...]Scott Bessent a credible, safe pick for Treasury: experts

Artificial intelligence is radically changing the way we live and work but its insatiable thirst for power is making the world's drive to go carbon free by 2050 even more challenging. Consider this: emissions of greenhous gases - GHGs - related to AI are predicted to soar more than tenfold between now and the end of this decade, from 68 million to 718 million tonnes of carbon dioxide equivalent, according to Accenture. The increase will be driven by the growing number of data centers and computing infrastructure, the global consultant says, adding that the jump ''assumes no significant advances in energy systems, computing technology or algorithms.'' Big Tech is well aware of the growing pressure to use clean energy and cut emissions and is now tapping into nuclear power, despite public fear over the disposal of nuclear waste and the risks of radioactive leaks. Governments, too, are looking at using more nuclear energy, which produces almost no GHG emissions. POWER HUNGRY GenAI tools are being increasingly used the world over, and developers are rolling out more and more computing-hungry visual processing while slashing prices in the battle for market dominance. OpenAI's ChatGPT from the United States had over a million paid business users in September, while ByteDance's Doubao from China saw its daily use jump thirty-threefold to 4 trillion tokens from July to mid-December. But GenAI consumes considerable electricity and thus emits even more CO2. If a user asks an AI large language model to generate a picture 1,000 times, the most inefficient model consumes 11.49 kilo Watts per hour - as much as 950 smartphone charges on average, a study by HuggingFace and Carnegie Mellon University shows. These 1,000 tasks are estimated to generate 1,594 grams of CO2, roughly the equivalent of 6.6 kilometers driven by a petrol-powered car. Data on the cloud also costs energy. A 1-gigabyte video stored in the cloud for a year will consume 65.7 kWh which produces 15.3kg of CO2e, only 11 percent less than the 17.2 kg CO2e generated by a petrol car over 100 km, according to researchers at Loughborough University in the UK. This makes it harder for global tech firms to eliminate their carbon footprint, as they already need to use nearly 1,300MW hours of power to train an LLM like GPT-3, about as much electricity as consumed by 130 homes in the US per year. Data centres and data networks each account for about 1-1.5 percent of global power usage and are responsible for 1 percent of energy-related GHGs, the International Energy Agency says. As tech giants accelerate the applications of AI, the industry is expected to use up to 3.5 percent of the world's electricity by 2030, equivalent to the current consumption of Japan, the world's fifth largest electricity user, says IT consultant Gartner. Notably, the surging demand from AI firms for electricity has delayed the retirement of coal and gas-fired power plants in the US, with the number of those phased out declining 45 percent year-on-year in the first half of the year, data from the US Energy Information Agency shows. China, though, is ahead of the game in this aspect, thanks to a decades-long push for renewable energy. Green power now accounts for over a third of all electricity generated and tech giants like Tencent (0700) have built new data centers in western China where wind and solar energy are abundant. CLEAN INVESTMENTS Nevertheless, to stay committed to their net zero goals, Big Tech is now turning to clean nuclear energy. Google, whose GHG emissions surged by 48 percent during four years to 14.3 million tonnes in 2023, has signed its first nuclear deal with Kairos Power to buy 500MW of clean electricity for its growing data center businesses, following similar moves by Microsoft and Amazon. Facebook-owned Meta is searching for nuclear power providers to acquire an additional 4GW of electricity in the US before 2030. Nuclear power has also got the attention of bankers, with 14 international financial institutions including Goldman Sachs teaming up to support nuclear power construction. Meanwhile, investors are betting on nuclear energy providers, pumping their shares up. In the US, NuScale Power, a small modular reactor or SMR developer, has skyrocketed 520 percent and Oklo, a nuclear startup backed by OpenAI chief executive Sam Altman has jumped 115 percent this year. In Hong Kong, CGN Power (1816), part of the state-owned China General Nuclear Power Group and the world's second-largest nuclear energy firm - has risen about 36 percent this year. But CNNC International (2302), the overseas arm of state-owned China National Nuclear Corporation, the major developer and landlord of nuclear power plants in the mainland, has plunged 23.5 percent this year. BOC International projects electricity will remain a market focus next year, supported by a rare global consensus. But instead of power plants, BOC International is betting on firms that produce uranium - the fuel for nuclear plants - with CGN Mining (1164) its top pick. Though CGN Mining is down 5 percent this year, the bank expects it to hit HK$2.1 apiece, indicating a 28 percent gain from the current price of HK$1.64. Morgan Stanley has a buy rating for CGN Power, citing easing concerns about slower decreases in electricity prices in the short run and raised the target to HK$3.69 apiece, 31 percent higher than its price of HK$2.81. BOC International set its target at HK$3.2 per share. Meanwhile, small modular reactors have gained investments from Google, Amazon and Oracle due to their smaller size and lower electric consumption. But despite NuScale's rally, concerns remain about high generation costs and its wave of layoffs. Some governments are also in nuclear mode, while others won't touch it with a barge pole. China recently completed construction of the world's first commercial SMR and wants to explore elusive nuclear fusion - the holy grail of energy - while Russia, Japan, South Korea and Thailand are also looking at building SMRs. Besides, Japan plans to restart most of its existing reactors to meet surging AI demand, despite regulatory hurdles and public opposition amid the ongoing clean-up of the Fukushima plant, which melted down 13 years ago after being hit by a massive tsunami - the second worst disaster, after Chernobyl in 1986, in nuclear power history. But Germany and Taiwan have banned and phased out nuclear energy. CARBON TRADE In the meantime, AI players have other options on hand. Carbon credits or offsets allow owners to emit a certain amount of CO2 or other GHGs by buying certificates linked to projects that reduce GHG emissions. One such option is direct air capture, in which CO2 in the air is removed by chemical sorbents or filtered and later stored or used. But DAC costs are high, varying from US$600 to US$1,000 per tonne of CO2. PwC expects carbon credits would be further tokenized on the estimated adoption of US$16 trillion worth of assets, while Morgan Stanley believes voluntary carbon offsets will swell 49 times to US$100 billion between 2023 and 2030. But carbon trading is also controversial, with Greenpeace alleging that some offset projects indulge in double-counting amid a lack of standards and regulations. To tackle surging AI emissions, the International Monetary Fund advocates imposing an electricity tax on AI firms of US$0.032 per kWh or US$0.052 including air pollution costs, which could raise as much as US$18 billion a year. The IMF also wants governments to coordinate over carbon prices to avoid AI firms relocating to places with lower standards. Experts say AI can has the potential to mitigate 5-10 percent of all GHG emissions by 2030 as its technology advances, but it's too early to tell if nuclear energy will be the magic bullet that hits the bull's eye between performance and emissions. Still, with the right investment and amid growing AI demand, it just might.

Submitted by QTR's Fringe Finance Those who have been following me for a long time know that the term “animal spirits,” often used to describe the appetite for risk-taking in markets, is on my list of the financial world’s bullshit overused phrases and sayings perpetually invoked to explain to the commonfolk why markets only go up in our rigged, inflation and debt-based monetary policy system. I’ve taken similar exception to terms like “Santa Claus rally,” which we are undoubtedly going to hear no less than a trillion times between now and 2025, as financial commentators and analysts scramble for public relations lipstick to slap on top of a 30x price-to-earnings pig. Because, after all, according to “economists,” central bankers, and equity strategists, we should pay no attention to inflation or the purchasing power of the dollar — only the stock market and spending. The stock market always goes up and it should always have a reason to do so, according to them. By their logic, it’s never overvalued, there are never any bubbles, there is never any malinvestment and there’s nothing to worry about. Stop worrying about subprime housing—“subprime is contained,” Ben Bernanke told me. Stop worrying about inflation—“inflation is transitory,” Janet Yellen told me. Stop worrying about Enron — dozens of magazines in the 90’s said it was the best company on the planet. Elizabeth Holmes was “the next Steve Jobs”. Sam Bankman-Fried was the next Warren Buffett. And so on and so forth we fly into the perpetually euphoric and unprecedented monetary debasement experiment that will yield results that nobody can time or predict. A couple of years ago, the S&P 500 was at 3,000, and analysts set price targets for the next year at 3,500. The year after that, the S&P was at 4,000, and analysts set price targets for the following year at 4,500. The year after that, the market was at 5,000, and analysts set price targets for the next year at 5,500. The number keeps going up, the money printer keeps printing, the wealth inequality gap keeps widening, the market becomes further and further micromanaged by central banks, the ATMs of the country keep spitting out Federal Reserve notes, society continues to function, our US Dollar continues to “lead” the world economically. All the while, the Earth keeps spinning inside our solar system, which is inside a galaxy, which is inside a universe that, according to scientists, continues to expand into nothingness. And then one day you wake up at 3AM, like I did today, and the Shiller PE is a nosebleed 38x. And, with the uncertainty of this unprecedented experiment ahead, it isn’t just equity markets right now that personify the “animal spirits” in the market; it’s cryptocurrencies, which are now collectively worth over $3 trillion. The emerging asset class, still not understood by a majority of people on Earth, has been ground zero for risk-taking over the last couple of years. And if you’re in the mood for risk, why waste time trying to capture a pedestrian 30% in the stock market when Bitcoin feels like it’s doubling every other day? On top of that, there are options, futures, and leverage in all different types of ways to double, triple, quadruple, and 10x that double many times over. For risk-takers, cryptocurrency is like catnip. A lot of the discussion on Bitcoin and the cryptocurrency universe has revolved around when the digital asset, now worth about $1.7 trillion will reach parity with gold, which commands a market cap of about $19 trillion right now. And at the rate things are going, it might not be too much longer before Bitcoin is a $5 trillion asset. We have a new incoming presidential administration that is favorable towards crypto, and the FOMO is palpable right now across the financial industry, with basically everybody except Vanguard capitulating and giving in to either buying Bitcoin, custodying it, trading it, or otherwise figuring out a way to make money off of it. Bitcoin adoption is surging, and this could mean one of two things: it’s either becoming a deeply rooted part of the financial system or we’re in a $3 trillion bubble that could burst. Once a skeptic, I’ve come to embrace Bitcoin, though I remain cautious about the unprecedented risks it carries. Gaining a better understanding of its mechanics and evaluating its risks helped shift my perspective. With Bitcoin nearing a $2 trillion market cap and other cryptocurrencies like Dogecoin holding significant valuations, it’s a good moment to revisit the key risks involved. While bullish takes on crypto are everywhere, I prefer to examine the potential downsides. Years ago, I believed a crypto collapse could trigger a financial crisis. Although I’ve moved away from that view as adoption has grown, the larger Bitcoin gets, the bigger the potential economic shock if things go south. It’s not a prediction, but it’s a risk worth considering. 🔥 BLACK FRIDAY - 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: Get 50% off forever Then there’s the question of what could go wrong. Bitcoin is an unprecedented asset class with unique risks, many of which are still unknown. For example, if Satoshi’s dormant coins suddenly moved, it could trigger a sharp price drop, with significant consequences for a market driven by leverage and speculation. Even if Bitcoin survives long-term, a $1 trillion to $1.5 trillion loss in value could ripple through the economy. As Bitcoin’s market cap grows, so does its systemic risk. I’ve also often raised the question of what comes next after SHA-256 hash functions and whether or not Bitcoin will be safe amidst the jump to quantum computing. The prevailing sentiment has always been that to protect the Bitcoin network, miners and those invested in developing the network will have to stay on the forefront of technological change and encryption capabilities to ensure the network doesn’t lose a beat as the world of microprocessing advances. The ‘bull case’ thoughts about this risk, at least according to Michael Saylor the last time I talked to him, was that if you had the power to crack SHA-256 encryption right now, there would be much bigger potential targets to go after than the Bitcoin network, seeing as how the very same encryption ensures the integrity of almost all major, consequential defense, military, and government computer networks worldwide. Saylor makes a valid point, but as Bitcoin's market cap grows, so does the incentive to hack or compromise its network. With a $1.8 trillion bounty effectively on the line, the temptation for bad actors increases. Fortunately, Bitcoin’s network is built with significant redundancy and safeguards, but the true risks, especially from quantum computing, will only become clear as technology advances. I will continue to watch cryptocurrency very closely, if not for any other reason, then as a gauge for risk-on sentiment starting to falter. When investors move to risk-off strategies, they tend to sell the riskiest assets first—starting with cryptocurrencies, then equities, bonds, and eventually autos and real estate. Since crypto markets are highly leveraged, their movements can serve as a key signal for broader market and economic downturns. There’s a reason the saying “stocks take the stairs up and the elevator down” exists. There’s also a reason for the saying “the bigger they are, the harder they fall.” There’s also a reason market panics often shock and scare market participants: they happen when people least expect them. And all I’m saying today is when euphoria and speculation have hit their peak, when you least expect it, that ‘animal spirits’ can become ‘cannibal spirits’ very quickly. Despite three years of rate hikes, the stock market has remained resilient. This could be due to excess liquidity, strong investor optimism, confidence in Fed policies, or even anticipation of lower taxes and deregulation following Trump’s reelection. Everyone is breathing a sigh of relief right now, me included, as it relates to the economy. As I wrote earlier this month in my article , The Dam Has Burst, The Floodgates Of Liberty Just Opened, it feels like the nation’s soul can breathe a little bit. Many feel relieved, believing the Fed may achieve a "soft landing." Inflation concerns are easing, even though prices remain above the 2% target, and optimism about the stock market persists despite signs of a strained consumer and a fragile economy. A final reminder, as the nation feels awash with liberty — liberty is an ally of freedom. And freedom in markets means that prices go both up and down. QTR’s Disclaimer : Please read my full legal disclaimer on my About page here . This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

“Barbenheimer” was a phenomenon impossible to manufacture. But, more than a year later, that hasn’t stopped people from trying to make “Glicked” — or even “Babyratu” — happen. The counterprogramming of “Barbie” and “Oppenheimer” in July 2023 hit a nerve culturally and had the receipts to back it up. Unlike so many things that begin as memes, it transcended its online beginnings. Instead of an either-or, the two movies ultimately complemented and boosted one another at the box office. This combination of images shows promotional art for "Gladiator II," left, and "Wicked." And ever since, moviegoers, marketers and meme makers have been trying to recreate that moment, searching the movie release schedule for odd mashups and sending candidates off into the social media void. Most attempts have fizzled (sorry, “Saw Patrol” ). This weekend is perhaps the closest approximation yet as the Broadway musical adaptation “Wicked” opens Friday against the chest-thumping sword-and-sandals epic “Gladiator II.” Two big studio releases (Universal and Paramount), with one-name titles, opposite tones and aesthetics and big blockbuster energy — it was already halfway there before the name game began: “Wickiator,” “Wadiator,” “Gladwick” and even the eyebrow raising “Gladicked” have all been suggested. “'Glicked' rolls off the tongue a little bit more,” actor Fred Hechinger said at the New York screening of “Gladiator II” this week. “I think we should all band around ‘Glicked.’ It gets too confusing if you have four or five different names for it.” As with “Barbenheimer," as reductive as it might seem, “Glicked” also has the male/female divide that make the fan art extra silly. One is pink and bright and awash in sparkles, tulle, Broadway bangers and brand tie-ins; The other is all sweat and sand, blood and bulging muscles. Both films topped Fandango’s most anticipated holiday movie survey, where 65% of respondents said that they were interested in the “Glicked” double feature. Theaters big and small are also pulling out the stops with movie-themed tie-ins. B&B Theaters will have Roman guards tearing tickets at some locations and Maximus popcorn tubs. Marcus Theaters is doing Oz photo ops and friendship bracelet-making. Alamo Drafthouse is leaning into the singalong aspect (beware, though, not all theaters are embracing this) and the punny drinks like “Defying Gravi-Tea.” This image released by Universal Pictures shows Cynthia Erivo, left, and Ariana Grande in a scene from the film "Wicked." “Rather than it being in competition, I think they’re in conversation,” “Gladiator II” star Paul Mescal said. “This industry needs a shot in the arm. Those films gave it last year. We hope to do it this year.” And the hope is that audiences will flock to theaters to be part of this moment as well. It's a sorely needed influx of could-be blockbusters into a marketplace that's still at an 11% deficit from last year and down 27.2% from 2019, according to data from Comscore. “Competition is good for the marketplace. It’s good for consumers,” said Michael O'Leary, the president and CEO of the National Association of Theatre Owners. “Having two great movies coming out at the same time is simply a multiplier effect.” “Glicked” is currently tracking for a combined North American debut in the $165 million range, with “Wicked” forecast to earn around $100 million (up from the $80 million estimates a few weeks ago) and “Gladiator II” pegged for the $65 million range. “Barbenheimer” shattered its projections last July. Going into that weekend, “Barbie” had been pegged for $90 million and “Oppenheimer” around $40 million. Ultimately, they brought in a combined $244 million in that first outing, and nearly $2.4 billion by the end of their runs. It’s possible “Glicked” will exceed expectations, too. And it has the advantage of another behemoth coming close behind: “Moana 2,” which opens just five days later on the Wednesday before the Thanksgiving holiday. “Glickedana” triple feature anyone? This image released by Paramount Pictures shows Pedro Pascal, left, and Paul Mescal in a scene from "Gladiator II." “These are 10 important days,” O'Leary said. “It’s going to show the moviegoing audience that there’s a lot of compelling stuff out there for them to see.” There are infinite caveats to the imperfect comparison to “Barbenheimer,” as well. “Wicked” is a “Part One.” Musicals carry their own baggage with moviegoers, even those based on wildly successful productions (ahem, “Cats”). “Gladiator II” got a head start and opened internationally last weekend. In fact, in the U.K. it played alongside “Paddington in Peru,” where that double was pegged “Gladdington.” “Gladiator” reviews, while positive, are a little more divided than the others. And neither directors Ridley Scott nor Jon M. Chu has the built-in box office cache that Christopher Nolan’s name alone carries at the moment. The new films also cost more than “Barbie” ($145 million) and “Oppenheimer” ($100 million). According to reports, “Gladiator II” had a $250 million price tag; “Wicked” reportedly cost $150 million to produce (and that does not include the cost of the second film, due next year). The narrative, though, has shifted away from “who will win the weekend.” Earlier this year, Chu told The Associated Press that he loves that this is a moment where “we can root for all movies all the time.” Close behind are a bevy of Christmas releases with double feature potential, but those feel a little more niche. There’s the remake of “Nosferatu,” the Nicole Kidman kink pic “Babygirl” and the Bob Dylan biopic “A Complete Unknown.” The internet can’t even seem to decide on its angle for that batch of contenders, and none exactly screams blockbuster. Sometimes the joy is just in the game, however. Some are sticking with the one-name mashup (“Babyratu”); others are suggesting that the fact that two of the movies feature real-life exes (Timothée Chalamet and Lily-Rose Depp) is enough reason for a double feature. And getting people talking is half the battle. When in doubt, or lacking a catchy name, there’s always the default: “This is my Barbenheimer.” Associated Press journalist John Carucci and Film Writer Jake Coyle contributed reporting. Last summer, Malibu's iconic blonde faced off against Cillian Murphy and the hydrogen bomb in the unforgettable "Barbenheimer" double feature. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Receive the latest in local entertainment news in your inbox weekly!Global energy executive joins Prometheus Hyperscale to accelerate sustainable data center growth and provide strategic counsel on $10B flagship project in Evanston, Wyoming HOUSTON , Nov. 24, 2024 /PRNewswire/ -- Prometheus Hyperscale, a leading developer of sustainable hyperscale data centres, is delighted to announce the appointment of Bernard Looney as Chairman of the Board of Directors. Mr. Looney, former CEO of BP, brings to the role more than three decades of energy sector expertise – from the frontline to the boardroom. He will provide strategic guidance on the development of the company's growth plans, including its $10B flagship data center in Evanston, Wyoming , which will be among the largest facilities of its kind in the world when completed. The announcement of Mr. Looney's appointment comes as societies and large technology companies grapple with how to power the explosive growth in artificial intelligence (AI). The International Energy Agency (IEA) estimates that by 2026 data centers globally will use over 1,000 terawatt-hours (TWh) annually, around the same as Japan uses today. Against this backdrop of soaring demand and squeezed supply, Prometheus is pioneering new standards in hyperscale data center operations. These approaches include harnessing a variety of energy sources to power its data centers, including renewables, natural gas and possibly nuclear at a later date through our strategic partnership with Oklo. Prometheus aims for its data centers to not impact grid customers. Another key challenge is the enormous amount of power and water used to cool data centers to prevent the servers from overheating. Prometheus Hyperscale uses a unique liquid cooling system that dramatically outperforms traditional air-cooling methods, reducing energy consumption by up to 50%. This system also utilises deep underground water reservoirs and captures the waste heat to reuse or sequester it. It's believed that Prometheus Hyperscale's flagship project will be the first hyperscale data center in the United States to combine liquid heat transfer and heat reuse technologies. Founded by Trenton Thornock , an experienced leader in energy, finance and infrastructure, Prometheus Hyperscale's flagship project in Evanston, Wyoming , promises to be the most advanced sustainable data center in the United States , and one of the largest in the world, when it becomes operational in 2025/26. The 1GW-capacity developed site will cover an area of 640-acres (one square mile), making it approximately three quarters the size of New York's Central Park. Four further sites are currently earmarked across Arizona and Colorado . As Chairman, Mr. Looney will ensure the successful execution of Evanston as well as Prometheus's broader business goals. His appointment comes following the recent announcement that Trevor Neilson , a renowned climate technology entrepreneur and philanthropist, will serve as the company's President. It's estimated that $1 trillion will be invested in the U.S. in data centers in the next five years – with an additional $1 trillion internationally. Trenton Thornock , Founder and CEO of Prometheus Hyperscale commented: "Having Bernard Looney join as Chairman is a tremendous step forward for Prometheus. Bernard's track record and transformative leadership in the energy sector aligns perfectly with our vision for the future of data centers. His insights, as well as his extensive operational and project delivery experience, will be invaluable as we bring our flagship project in Evanston, Wyoming to life and set new benchmarks for sustainable digital infrastructure." Trevor Neilson , President of Prometheus Hyperscale, commented: "Bernard is the perfect person to guide Prometheus as we form partnerships across the energy sector to access low-carbon electrons that will power the future of AI. His extensive industry experience and leadership will be instrumental as Prometheus establishes itself at the forefront of sustainable data center operations." Bernard Looney commented: "I am delighted to join Prometheus Hyperscale at this pivotal moment as the world grapples with the intersection of AI, Energy and Sustainability. Innovative power solutions are desperately needed to ensure that AI is unleashed to tackle some of the biggest global challenges including healthcare, economic growth, and the energy transition. We must work to find solutions that lead to Net Positive AI – where the benefits to our world outweigh any costs. The flagship Evanston project is one such solution and I look forward to lending a helping hand, working alongside Trenton, Trevor, and the entire Prometheus team to help bring this vision to life. I can't imagine a more exciting challenge." Factsheet: Prometheus Hyperscale's Flagship Project in Evanston, Wyoming Prometheus's site in Evanston, Wyoming , aims to redefine sustainable infrastructure in the data center industry, setting a new benchmark for operational excellence and environmental responsibility. Key aspects of the project include: Extensive Land and Power Capacity: The project encompasses a 12,000-acre ranch, including a dedicated 640-acre plot (about 1 square mile) for data center facilities. Prometheus has secured an initial 120 MW of grid power through Rocky Mountain Power, with plans for an additional 120 MW, ensuring robust power availability without curtailment risks. On-Site Renewable and Low-Carbon Power Generation: With an on-site generation goal of over 1 GW, which will make it one of the largest data centers in the world, Prometheus is incorporating a mix of wind, solar and gas power sources. Additionally, the company has a strategic partnership with Oklo focused on next-generation fission-based nuclear power, delivering reliable, sustainable baseload energy to the campus. High-Performance Fiber Connectivity: The Evanston site will connect directly to the Northern transcontinental fiber trunk, offering high-speed, low-latency connections between the East and West Coasts. With agreements for up to 400G of service and plans to scale up to 800G when commercially available, the project is poised to meet the rigorous connectivity needs of AI, cloud, and high-performance computing clients and to be one of the biggest data centers in the world. Cutting-Edge Liquid Cooling Technology: Prometheus's unique liquid cooling systems will be deployed to achieve unparalleled energy efficiency by capturing and reusing waste heat. This innovative solution is specifically engineered for high-performance computing environments and will play a critical role in reducing the carbon footprint of the facility. Strategic Location and Access to Skilled Labor: Located 80 miles from Salt Lake City, Utah , the Evanston site benefits from proximity to a large, skilled workforce, bolstered by a regional Journeyman Lineman program focused on data center operations. This strategic location supports the project's operational and expansion goals while reinforcing Prometheus's commitment to regional economic growth. For more information about Prometheus Hyperscale and its sustainability initiatives, please visit www.prometheushyperscale.com . About Prometheus Hyperscale Prometheus Hyperscale, founded by Trenton Thornock , is revolutionizing data center infrastructure by developing sustainable, energy-efficient hyperscale data centers. Leveraging unique, cutting-edge technology and working alongside strategic partners, Prometheus is building next-generation, liquid-cooled hyperscale data centers powered by cleaner energy. With a focus on innovation, scalability, and environmental stewardship, Prometheus Hyperscale is redefining the data center industry for a sustainable future. View original content to download multimedia: https://www.prnewswire.com/news-releases/bernard-looney-appointed-chairman-of-the-board-of-directors-at-prometheus-hyperscale-302314829.html SOURCE Prometheus Hyperscale

Sinani's 22 lead Campbell over Green Bay 72-66As the world awaits how US President-elect Donald Trump will weaponize trade, it is useful to understand how the US and China have wielded trade sanctions in the past to achieve their foreign and domestic policy goals. The US has often used trade sanctions to deal with issues such as nuclear proliferation, human rights abuses, or geopolitical aggression, and now under Trump, to reduce trade deficit and bring back jobs to the US. The US, for example, has imposed sanctions on Iran to curb its nuclear program and on Russia following its annexation of Crimea. During Trump’s first presidency, he imposed tariffs on $250 billion worth of Chinese goods, targeting sectors like technology, steel, and consumer goods. These measures were designed not only to pressure Beijing on what the US claimed as intellectual property theft, human rights violations, and unfair trade practices but also to incentivize US companies to shift production to the US. Similarly, China has also wielded trade sanctions as an instrument of foreign policy. Since 2010, China has imposed sanctions against 15 countries including Australia, Japan, South Korea, Norway, the Philippines, Mongolia, Canada, Lithuania, and the United States. These sanctions vary in motivation, scope, target, and duration, but their strategies tend to be ambiguous and informal but also proportional, conditional, and ultimately pragmatic. If President Trump has the art of the deal, China has the art of the trade war. Historically, China tended to wield trade sanctions over what it claims as infringements of its core interests — territorial integrity, political stability, economic priorities, and national security. In 2012, for example, Beijing imposed trade sanctions — that lasted four years — on the Philippines after it filed a case against China over the Scarborough Shoal in the South China Sea. When Norway awarded the 2010 Nobel Peace Prize to Chinese dissident Liu Xiaobo, China blocked Norwegian salmon exports for six years. In 2016, China imposed sanctions on Mongolia after the Dalai Lama’s visit, targeting Mongolian mining exports with administrative delays. South Korea experienced a similar response when it deployed the THAAD missile defense system in 2016. China retaliated by restricting tourism, banning Korean cultural products, and increasing inspections on South Korean goods — a move that cost the South Korean economy an estimated $7.5 billion over six years. In 2020, after Australia called for an independent investigation into the origins of COVID-19 and banned Huawei from its 5G rollout, China imposed broad sanctions on Australian coal, barley, beef, and wine estimated at over $20 billion worth of exports. In all of these cases, trade sanctions were eventually eased as a result of policy shifts or changes in political leadership in sanctioned countries. These examples illustrate the range and conditional nature of China’s trade sanctions. Economic pressure is applied strategically, and sanctions are often lifted when target countries adjust policies, offer diplomatic concessions, or prioritize economic cooperation with Beijing. While China’s motivations are predictable — to protect its core interests — its sanctions strategy is often ambiguous and informal. Unlike Western powers, which publicly announce and justify sanctions — even with Trump’s trade deficit reduction project — China often attributes trade disruptions to technical or regulatory issues. When Mongolia hosted the Dalai Lama in 2016, Chinese authorities cited vague “technical delays” to restrict Mongolian mining exports. Similarly, restrictions on Australian and Philippines agricultural goods were framed as regulatory inspections rather than retaliatory measures. Moreover, China often employs informal tools such as administrative delays, increased inspections, and unofficial pressures on businesses. In its 2021 dispute with Lithuania over the establishment of a Taiwanese representative office, China suspended trade flows without formal announcements and pressured multinational firms to sever ties with Lithuanian suppliers. This strategy — highly effective but difficult to contest through legal channels — highlights China’s ability to leverage its vast market informally. Notably, China’s trade sanctions also tend to be tit for tat but proportional, calibrated to maintain pressure while avoiding full-scale economic disruption. For example, during Trump’s first presidency, the 2018 trade war with China showcased a proportional use of tariffs to address perceived trade imbalances. Tariffs were imposed on $250 billion worth of Chinese imports, targeting sectors such as technology, steel, and consumer goods, while China retaliated with tariffs on $110 billion worth of US goods, focusing on agriculture and automobiles, politically sensitive goods in the US. While China’s sanctions strategy tends to be ambiguous, informal, proportional, and conditional, it is ultimately pragmatic. For instance, China has maintained robust trade relations with countries despite ongoing territorial disputes. Bilateral trade with India, for instance, reached $135 billion in 2022 despite continued tensions along the border which have since been settled this year. Trade with the US remains robust despite trade rivalry. Similarly, China remains Vietnam’s largest trading partner, even as both countries vie for contested claims in the South China Sea. The same with the Philippines although China has already warned it is running out of patience. Trade with Taiwan further underscores this dynamic. Despite Beijing’s political stance that Taiwan is a breakaway province, economic ties remain significant. In 2022, Taiwan’s exports to China accounted for 40% of its total exports, dominated by semiconductors vital to China’s technology ambitions. These cases point to the complexities of China’s trade relationships and China’s pragmatic balancing act between strategic competition and economic interdependence. The economic impact of China’s sanctions often depends on the targeted country’s reliance on Chinese markets. Smaller economies, or those with concentrated export dependencies, are more vulnerable. South Korea’s deployment of the THAAD missile defense system in 2016 led to restrictions on tourism, entertainment, and consumer goods, costing South Korea an estimated $7.5 billion over six years. However, countries capable of diversifying their trade relationships can mitigate the effects. Australia’s experience with China illustrates this point. After facing sweeping trade restrictions, Australia redirected coal exports to India and barley to the Middle East, demonstrating that sanctions can sometimes accelerate trade diversification rather than achieving their intended outcome. China’s trade sanctions must be seen within its broader foreign policy strategy, which balances punitive measures with economic incentives. Alongside sanctions, China uses tools such as favorable trade agreements, foreign direct investment (FDI), and development aid to strengthen ties with friendly states and win over rivals. The Belt and Road Initiative (BRI) exemplifies Beijing’s efforts to expand geopolitical influence through economic engagement. China’s vast outbound tourism sector has also emerged as a lever of economic diplomacy, rewarding or penalizing countries based on bilateral ties. While China’s sanctions strategy offers flexibility, it also raises concerns about international trade norms. The World Trade Organization (WTO) provides mechanisms for resolving formal trade disputes, but China’s informal measures often fall outside its regulatory framework. Japan’s 2012 WTO victory against China’s rare earth export restrictions highlighted these limitations. Although China complied with the ruling, the case underscored the challenges of addressing politically motivated trade disruptions through existing global mechanisms. This is not to say that China has completely abandoned the WTO. In fact, it recently filed in the WTO several cases against the US and EU over the imposition of tariffs on Chinese electric vehicles. In short, China’s art of the trade war seems to be a combination of discretion, informality, ambiguity, proportional escalation, conditionality, pragmatism, and reliance on global institutions as it suits its purpose. This strategy allows Beijing to exert economic pressure, provide flexibility while avoiding overt escalation. Its effectiveness will depend on the economic resilience of targeted countries, their ability to diversify trade relationships, and the broader geopolitical context. While sanctions impose costs, they also carry risks for China, including disruptions to its own supply chains and the potential for countries to deepen ties with alternative partners. On my next op-ed, I will speculate on the possible economic impacts if China imposes sweeping trade sanctions on the Philippines and when it might do so. Eduardo Araral is an associate professor at the Lee Kuan Yew School of Public Policy, National University of Singapore. This op-ed is written in his personal capacity.

Society / Mr. Scarborough Goes to Mar-a-Lago MSNBC television anchors Mika Brzezinski, left, and Joe Scarborough, cohosts of the Morning Joe show, take questions from an audience, Wednesday, October 11, 2017, at a forum called "Harvard Students Speak Up: A Town Hall on Politics and Public Service," at the John F. Kennedy School of Government, on the campus of Harvard University, in Cambridge, Mass. (Steven Senne / AP Photo) It's already evident that the battered forces of liberal governance will not be staging a sequel to the self-styled "resistance" movement that greeted Donald Trump's initial elevation to the presidency. But in an additional blow to resistance mythology, one key outlet of anti-Trump punditizing—President Joe Biden's favorite political talk show, MSNBC's Morning Joe—has already prostrated itself to a Trump administration that has yet to take office. Over the weekend, the show's cohosts, green-room power couple Joe Scarborough and Mika Brzezinski, made a pilgrimage to President-elect Trump's Mar-a-Lago compound, replicating the self-abasing ritual adopted by Kevin McCarthy after the January 6 coup attempt at the US Capitol and scores of other notional Never Trumpers on the right. (For grim amusement, check out MSNBC's righteous indignation over the McCarthy episode.) In a typically self-serious statement to their viewers, Scarborough and Brzezinski justified their obsequies before a leader they'd previously dubbed a fascist, on the threadbare rationale that propels all supine political journalism: Opening channels of communication with Trump would give them invaluable access to the upper reaches of state power. In another pet refrain of the high-Beltway hymnal, they pitched their craven capitulation to authoritarian rule as a healing gesture on behalf of a woefully polarized citizenry. "Five years of political warfare has deeply divided Washington and this country," Brezezinski burbled. "We have been as clear as we know how in expressing our... https://www.thenation.com/authors

The rising price of paying the national debt is a risk for Trump's promises on growth and inflation WASHINGTON (AP) — Donald Trump has big plans for the economy. He also has big debt problem that'll be a hurdle to delivering on those plan. Trump has bold ambitions on tax cuts, tariffs and other programs. But high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do. The federal debt stands at roughly $36 trillion, and the spike in inflation after the pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security. 'Wicked' and 'Gladiator' make gravity-defying theater debuts NEW YORK (AP) — “Wicked” and “Gladiator II” have debuted in theaters with a combined $270 million in ticket sales. Their worldwide performance breathed fresh life into global box office results that have struggled lately. Together the films turned the moviegoing weekend into one of the busiest of the year. Jon M. Chu’s lavish big-budget musical “Wicked,” starring Ariana Grande and Cynthia Erivo, debuted with $114 million domestically and $164.2 million globally. Ridley Scott’s “Gladiator II” is a sequel to his 2000 best picture-winning original and launched with $55.5 million in ticket sales. “Moana 2” is being released Wednesday, so it looks like Hollywood might be looking at historic sales over the Thanksgiving holiday. Trump's Republican Party is increasingly winning union voters. It's a shift seen in his labor pick WASHINGTON (AP) — Working-class voters helped Republicans make steady election gains this year and expanded a coalition that increasingly includes rank-and-file union members. It's a political shift spotlighting one of President-elect Donald Trump’s latest Cabinet picks: a GOP congresswoman, who has drawn labor support, to be his labor secretary. Oregon Rep. Lori Chavez-DeRemer narrowly lost her bid for a second term this month, despite strong backing from union members. They're a key part of the Democratic base but are gravitating in the Trump era toward a Republican Party traditionally allied with business interests. Trump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary WASHINGTON (AP) — President-elect Donald Trump launched a blitz of picks for his Cabinet, but he took his time settling on billionaire investor Scott Bessent as his choice for treasury secretary. The Republican not only wanted someone who jibes with him, but an official who can execute his economic vision and look straight out of central casting while doing so. With his Yale University education and pedigree trading for Soros Fund Management before establishing his own funds, Bessent will be tasked with a delicate balancing act. Trump expects him to help reset the global trade order, enable trillions of dollars in tax cuts, ensure inflation stays in check, manage a ballooning national debt and still keep the financial markets confident. Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor WASHINGTON (AP) — President-elect Donald Trump has chosen hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary. Bessent, 62, is founder of hedge fund Key Square Capital Management. He previously had worked on and off for Soros Fund Management since 1991. Trump also said he would nominate Russell Vought, 48, to lead the Office of Management and Budget, a position he held during Trump's first term. And Trump chose Rep. Lori Chavez-DeRemer, an Oregon Republican, as his labor secretary, and Scott Turner, a former football player who worked in Trump’s first administration, as his housing secretary. Afraid of losing the US-Canada trade pact, Mexico alters its laws and removes Chinese parts MEXICO CITY (AP) — Mexico has been taking a bashing for allegedly serving as a conduit for Chinese parts and products into North America. Officials here are terrified that a re-elected Donald Trump or politically struggling Justin Trudeau could simply expel their country from the U.S.-Mexico-Canada free trade agreement. Mexico's ruling Morena party is so afraid its has gone on a campaign to get companies to replace Chinese parts with locally made ones. And its legislators are consciously tweaking the wording of major laws to try to make them compatible with the trade pact's language. Mexico hopes the rules of the trade pact would prevent the U.S. or Canada from simply walking away. Australia withdraws a misinformation bill after critics compare it to censorship CANBERRA, Australia (AP) — Australia’s government has withdrawn a bill that would give a media watchdog power to monitor digital platforms and require them to keep records about misinformation and disinformation on their networks. Communications Minister Michelle Rowland said Sunday that the government was unable to drum up the support needed to pass the legislation. The opposition spokesman, David Coleman, said the bill “betrayed our democracy” and amounted to “censorship laws in Australia.” The bill would have granted the Australian Communications and Media Authority power over digital platforms by approving an enforceable code of conduct or standards for social media companies if self-regulation fell short. He'll be the last meatpacker in the Meatpacking District. Here's how NYC's gritty 'hood got chic NEW YORK (AP) — The last meatpackers in New York's Meatpacking District have agreed to end their leases early and make way for development on their city-owned lot. A third-generation meatpacker says he is ready to retire and he'll be proud to be there when the building closes. The closure date has not been set, but will mark the end of over a century of industrial life in the Meatpacking District. Starting in the 1970s, a new nightlife scene emerged as bars and nightclubs moved in. Today it's a hub for shopping, tourism, and recreation and only echoes of that grit remain. US budget airlines are struggling. Will pursuing premium passengers solve their problems? DALLAS (AP) — Delta and United Airlines have become the most profitable U.S. airlines by targeting premium customers while also winning a significant share of budget travelers. That is squeezing smaller low-fare carriers like Spirit Airlines, which filed for bankruptcy protection on Monday. Some travel industry experts think Spirit’s troubles indicate less-wealthy passengers will have fewer choices and higher prices. Other discount airlines are on better financial footing but also are lagging far behind the full-service airlines when it comes to recovering from the COVID-19 pandemic. Most industry experts think Frontier and other so-called ultra-low-cost carriers will fill the vacuum if Spirit shrinks, and that there's still plenty of competition to prevent prices from spiking. What to know about Scott Bessent, Trump's pick for treasury secretary WASHINGTON (AP) — President-elect Donald Trump has chosen money manager Scott Bessent, an advocate for deficit reduction and deregulation, to serve as his next treasury secretary. Bessent is a past supporter of Democrats who has become an enthusiastic supporter of Trump. He’s an advocate of cutting spending while extending the tax cuts approved by Congress in Trump’s first term. He has said tariffs imposed during a second Trump administration would be directed primarily at China.None

By KEVIN FREKING WASHINGTON (AP) — The Senate won’t hold votes on four of President Joe Biden’s appellate court nominees as part of a deal with Republicans to allow for speedier consideration of other judicial nominations and bring Biden within striking distance of the 234 total judicial confirmations that occurred during President-elect Donald Trump’s first term. Currently, the number of judges confirmed under Biden totals 221. Republicans forced numerous procedural votes this week and late-night sessions as Senate Majority Leader Chuck Schumer, D-N.Y., attempted to move ahead in getting more of Biden’s nominees confirmed before Congress adjourns and Republicans take control of the chamber in January. A Senate Democratic leadership aide said Thursday a time agreement had been reached to allow for consideration of seven district court judges the week following Thanksgiving. Plus, another six district judges would be placed on the Senate executive calendar, making it possible for them to be considered on the Senate floor in December. Excluded from that list were four circuit judge nominations awaiting a floor vote: Adeel Abdullah Mangi of New Jersey, nominated for the Third Circuit Court of Appeals; Karla M. Campbell of Tennessee, nominated for the Sixth Circuit; Julia M. Lipez of Maine, First Circuit; and Ryan Young Park of North Carolina, Fourth Circuit. Mangi would have been the first Muslim American to serve as a federal appellate court judge if he had been confirmed. Mangi received law degrees from Oxford and Harvard. He works in a prestigious law firm and has secured significant legal victories. But his limited volunteer work with two outside groups has imperiled his nomination. He faced opposition from some Democrats as well. The confirmation battles over circuit court judges are generally much harder fights given their role in hearing appeals from district courts and often having the last word on legal matters. Schumer’s office said the four circuit nominees lacked the support to be confirmed, and that they received more than triple the amount of other judges moving forward as part of the agreement. Related Articles National Politics | Republicans rally around Hegseth, Trump’s Pentagon pick, as Gaetz withdraws for attorney general National Politics | Trump has promised again to release the last JFK files. But experts say don’t expect big revelations National Politics | Several of Trump’s Cabinet picks — and Trump himself — have been accused of sexual misconduct National Politics | Airline CEOs and Transportation Secretary Buttigieg fight over regulations even after election National Politics | Biden has become notably quiet after the 2024 election and Democrats’ loss Liberal groups in recent weeks have been pressuring Senate Democrats to do what it takes to get all of Biden’s judicial nominees confirmed before Trump takes office again. And some expressed disappointment with the deal. “Reports that there is a deal that would leave behind critical circuit court nominees are unacceptable. All of these nominees must be confirmed expeditiously before the end of the 118th Congress,” said Lena Zwarensteyn, an advisor at The Leadership Conference on Civil and Human Rights. “When senators return from the holiday break, Leader Schumer and senators must do whatever it takes — for as long as it takes — to confirm every single pending judicial nominee, including all circuit court nominees, to provide an important guardrail for our democracy. No matter what, this must get done,” Zwarensteyn said. Schumer has dedicated much of the Senate schedule to getting Biden’s judicial nominees confirmed. He called it a basic responsibility of the Senate. “We’ll take that responsibility very seriously between now and the end of the year,” Schumer said on the Senate floor.

Longest-lived US president was always happy to speak his mind

China's expanding navy has added to its capability with a new-generation amphibious assault ship that can launch and land fighter jets. The Sichuan, the nation's largest combat ship in the world's largest navy, was launched Friday in a ceremony at the Hudong-Zhonghua shipyard in Shanghai, reports. The ship is built to deliver ground troops for combat and provide air support for them. An electromagnetic catapult lets fighter jets launch directly from the Sichuan's deck, per the state news agency Xinhua, and "arrestor technology" enables the jets land on the deck. The USS Gerald R Ford is the only other warship in service with the catapult technology. That system allows Type 076 ships, of which the Sichuan is the first, to launch larger, heavier aircraft—which can carry more fuel and missiles and have a greater operating range, per . The People's Liberation Navy is more than a decade into its modernization effort, which includes developing a fleet that can operate globally—as can the 11 US nuclear-powered aircraft carriers. China's ongoing maritime disputes include several in the South China sea and a conflict with Japan over the Senkaku Islands. And its navy has become increasingly active around Taiwan. The launch of the Sichuan—which is slated for sea trials before going into active service—also sends a message, said a military analyst and former US Navy captain, per CNN. "It demonstrates China's growing maritime power projection capability at a time when the US Navy's commitment and capability for expeditionary, amphibious, and humanitarian assistance missions has diminished significantly," said Carl Schuster. (More stories.)

Patrick Gathara The arrest warrants for Israel’s Prime Minister Benjamin Netanyahu and former Defence Minister Yoav Gallant, issued by the International Criminal Court (ICC), have brought back not-so-fond memories to many Kenyans. More than a decade ago, then Kenyan President Uhuru Kenyatta and his deputy – current President William Ruto – became the first incumbent heads of state or government to actually face an ICC trial, having been indicted before they got into office. However, while both Kenyatta and Ruto chose to cooperate with the court – at least on the face of it – and attended their trials, thus obviating the need for an arrest warrant, it is unlikely that Netanyahu and Gallant will be taking a trip to The Hague any time soon. Kenyatta and Ruto were accused of being responsible for the violence that followed the country’s disputed 2007 election, in which more than 1,300 people lost their lives. The two had been on opposing sides of the conflict and were alleged to have organised and funded “tribal” militia to carry out killings. To date, only a handful of people have ever been prosecuted for the murders, rapes and mutilation that led to the forcible displacement of 660,000 people, and it was only after the Kenyan state proved unwilling to act that the ICC stepped in. Similarly, when he applied for warrants for the Israeli leaders in May, ICC Prosecutor Karim Khan – who coincidentally headed Ruto’s defence team – also indicated he would be happy to defer prosecution if Israel’s justice system shows any willingness to take action against Netanyahu and Gallant and “engage in independent and impartial judicial processes that do not shield suspects and are not a sham”. The ICC judges have now agreed that there are reasonable grounds to believe the two bear criminal responsibility for the many crimes committed by Israel against the Palestinians during its ongoing genocidal assault on Gaza. With an official death toll of more than 44,000, Gaza has witnessed murders, rapes and displacement on a vast scale, as well as mass starvation, and the deliberate targeting of schools, hospitals and places of worship. Many have complained about the seven-month-long delay in the ICC judges issuing the arrest warrants, but Kenyans had to wait for two years to have the ICC prosecutor send a request for an investigation and then another five months for the court to approve it. It then took another 12 months for the actual indictment of specific individuals – six of them – to be handed down. Thus, by comparison, the Palestine cases have moved much faster. Among the reasons for the delay in the Palestine case were the numerous briefs challenging the court’s jurisdiction and the admissibility of the allegations. There was also a lot of pressure put on the ICC by Israel and its Western friends. There were Israeli attempts to intimidate the court even before the war started last year, with Khan’s predecessor, Fatou Bensouda, facing threats by the Mossad not to launch an investigation into Israel’s war crimes of 2021. Khan now himself faces accusations of sexual misconduct. It is notable that few Western nations came to Kenyatta’s and Ruto’s aid. On the contrary, there was more than a subtle hint given to Kenyans that electing Kenyatta and Ruto would be a bad idea – that “choices have consequences”. I am not saying they should have opposed the duo’s arraignment, but there is more than a whiff of double standards here. It does seem that there is more of an interest in seeing justice done when those in the dock are Africans, and not just anti-Western. That point is driven home when one considers how the indictments of Israeli officials have been framed in the Western press. The Guardian, for example, described it as “the first time a western ally from a modern democracy has been charged with war crimes and crimes against humanity by a global judicial body”. This account comes as a surprise to Kenya, which for well over six decades has considered itself a “Western ally” and which – having held regular elections throughout that time – can be described as something of a “modern democracy”, whatever that means. Unless, of course, these are euphemistic descriptors of more problematic relationships. Kenyans have a name for this sort of thing: the “mtu wetu [our guy] syndrome”. Whenever our politicians find themselves being investigated or – God forbid! – charged with crimes, they try to rally their ethnic kinsmen around the idea that it is the “tribe” being targeted. The mobilisation of an imagined identity is a political tactic that is very effective in scaring off prosecutors and intimidating judges both locally and internationally. “Mtu wetu” is how Kenyatta and Ruto were able to avoid prosecution at home and then instrumentalise their control of the Kenyan state to undermine their cases at the ICC. It is why the ICC found itself accused of “race hunting” – of focusing on prosecuting Black Africans, an allegation that conveniently ignored the fact that most of the situations the court was pursuing had been referred to it by African governments. “Mtu wetu” is why Netanyahu today accuses the court of anti-Semitism, suggesting his prosecution is an attack on all Jews. “Mtu wetu” is why suddenly Germany seems less keen on upholding its obligations under international law, and why US politicians are threatening all and sundry, even those in Canada and Europe who perhaps mistakenly thought they would be always part of the tribe. It is sadly ironic that on the 140th anniversary of the Berlin West Africa Conference – which set the stage for European colonisation of Africa and which subsequently introduced the scourge of tribalism to the continent – that the same irrational and totalising conception of identity is being weaponised in the West to defend people accused of some of the worst categories of crimes imaginable. Courtesy: aljazeera

The piece of technology sits unassumingly on top of the helmet of veteran quarterback Sam Darnold during most practices at TCO Performance Center. ADVERTISEMENT It allows the Vikings to capture footage in real time, providing a peek into the past for the man at the forefront of the future. “It’s super cool,” Darnold said. “It’s a really amazing tool to be able to use.” Though the Vikings are very much keeping the focus on this season with big goals in mind, they also have started laying the foundation for next season with the help of a GoPro camera. “This is the first time I’ve done anything like that,” Darnold said. “It doesn’t really feel like anything when it’s on my helmet.” ADVERTISEMENT That’s arguably the biggest part of its appeal. The fact that the GoPro camera weighs much less than a pound means it doesn’t interfere with anything the Vikings are trying to get done on a daily basis. It exists more or less as an accessory for Darnold at this point, taking video from his perspective whether he’s calling a play in the huddle, making a check at the line of scrimmage or scanning the field after the ball is snapped. That has been extremely useful for rookie quarterback J.J. McCarthy as he continues to work his way through his recovery from a knee injury that ended his rookie campaign before it even got started. The ability to see everything through the eyes of Darnold has helped McCarthy train his brain even if he isn’t able to experience it firsthand. ADVERTISEMENT “The mental reps are of utmost importance,” McCarthy said a couple of months ago. “Just watching film from that perspective is really good.” This is the best option for the Vikings right now. Originally, after selecting McCarthy with the No. 10 pick in the 2024 draft, the Vikings hoped he would be able to get live reps himself this season. ADVERTISEMENT Instead, after McCarthy had surgery to repair a torn meniscus, the Vikings are doing everything in their power to make sure he’s ready for next season. That’s something head coach Kevin O’Connell has stressed whenever McCarthy’s name has been brought up. “We wanted to make sure we’re maximizing every moment for him,” O’Connell said. “We thought, ‘How do we make sure we’re doing the things that we need to do to ensure that he’s in the best possible position when he is healthy?'” The use of a GoPro camera is simply another resource the Vikings have at their disposal. ADVERTISEMENT “We’ve done a lot of different stuff that maybe we don’t do with a 10-year veteran quarterback,” O’Connell said. “Just to make sure that we’re farming an ideal learning environment for him to hit the ground running when he’s healthy.” As soon as the GoPro camera captures the footage from a particular practice, McCarthy can go back and watch it, getting a feel for what life is like in the huddle, at the line of scrimmage and after the ball is snapped. Sometimes the Vikings will even put it on in their war room, where there’s a gigantic screen that takes up an entire wall. That grandiose display is something offensive coordinator Wes Phillips appreciates because it makes it feel like McCarthy is inside the helmet. ADVERTISEMENT “It’s pretty cool to watch in there,” Phillips said. “It gives him a chance to see it a little bit more from that perspective.” Some of the other creative ways the Vikings have kept McCarthy on track include allowing him to be a part of the dialogue that goes on between O’Connell and Darnold during games. He was cleared to travel with the team for the first time last month, for example, so he was in attendance at SoFi Stadium when the Vikings suffered a 30-20 loss to the Los Angeles Rams. Just getting a glimpse of what it feels like in the heat of battle will go a long way for McCarthy as he continues to develop. “I’m really excited about having him with us,” O’Connell said. “Any and all areas we can find to maximize those chances, we’re going to use it.” All the while, McCarthy has also been attending meetings, asking questions to O’Connell, Phillips, quarterback coach Josh McCown, assistant quarterbacks coach Grant Udinski and anybody else he can find in their office at TCO Performance Center. “He’s great about saving some questions he has,” Phillips said. “He’ll do that off to the side, understanding that guys are getting ready for the game.” Though the Vikings would’ve loved for McCarthy to be able to learn everything firsthand as a rookie, they are making the most of their current situation, ensuring their young quarterback of the future is completely prepared heading into next season. “Obviously he wants more than anybody to be there physically,” Phillips said. “He’s doing everything he can to be ready when his time comes.” ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here .

President Anura Kumara Dissanayake, known as AKD, outlined the plans of his Government to rescue the crisis-ridden and slow growing economy in delivering the President’s Address at the opening of the 10th Parliament last week1. In a short speech like this, one cannot give all the micro details of his plan. Hence, by outlining the main policy parameters, he treated his audience to the vision by which his Government is guided in the next five years to deliver prosperity to Sri Lankans. AKD’s forte lies in delivering speeches freely out of his mind instead of reading a prepared text. In his maiden speech at Parliament as the President of the Republic, he spoke for long 55 minutes occasionally looking at the sketch of his speech to pick only the key points. Otherwise, it was a free flow of his mind. In development policy designing and management, there are further steps to be taken by AKD Government. The vision should be converted to a plan, plan broken into projects, projects divided into programs, programs to be represented by implementation units. These units should be given targets with a timeframe. On the other side of implementation, there should be continuous monitoring, progress reviewing, and trouble shooting if there are impediments in the plan implementation. These two machineries should be put in place immediately and they should naturally be under AKD himself to provide the necessary authority and leadership for change management. Without this, the vision will be a talk only devoid of action. James Carville, the political advisor to Bill Clinton is said to have coined in 1992 the phrase, ‘It is the Economy Stupid’, to belittle Clinton’s opposite, George HW Bush, on his ignorance of the ground realities in the ailing US economy2. The underlying connotation was that both the US economy and its chief economic manager were stupid. This soon became the Clinton campaign slogan, and it was successful in denying a second term for the incumbent President. AKD’s chief contender, former President Ranil Wickremesinghe or RW too tried to belittle his two main contenders on a similar ground. RW is reported to have publicly ridiculed AKD as well as Sajith Premadasa that neither one was experienced in running a crisis-hit economy unlike him. In his view, they both had run away from responsibility when the country needed a leader to bring order to the emerging anarchic state. In this context, RW maintained that only he stepped forward to take responsibility and only he had an experienced team to do so3. In the Parliamentary election campaign, RW asked the voters not to send inexperienced people to Parliament and reiterated that only his team has the necessary experience4. The results of both the Presidential and Parliamentary elections showed that RW had failed to convince the voters on this point, like the economy stupid slogan of the Clinton campaign. AKD, in his President’s address, disproved his critics. However, after the Presidential and Parliamentary elections, it is the economy stupid that is going to loom over Sri Lanka making it AKD’s biggest challenge. Like any economic policy program, AKD’s program too has plus as well as minus points. With the unmatched super popularity which AKD has got from the people across the country today, it is natural for his fans to overvalue plus points and gloss over the shortcomings. Such analysis is guided by pure emotional affiliations, and it is injurious to both AKD and the country. The overassessment of his program will not give him an opportunity to correct himself. The country will suffer because of the unintended consequences of his policies. As a result, when, on a later date, the weaknesses are realised, it will be too late to reverse the policies and cut the long-term costs to the economy. Such a fate served on the former President Gotabaya Rajapaksa when he sought to convert the country’s agriculture to organic farming overnight. This daring and obviously destructive attempt was praised by those who were around Gotabaya and, as a result, neither he nor his policy advisors got an opportunity to stop it in time to avoid the long-term damage done to Sri Lanka’s agricultural sector. AKD should not fall into this trap just by listening to people who praise him. Hence, this article will critically review AKD’s policy statement. AKD’s policy vision is based on inclusive development which solicits participation of citizens in all the regions, all ethnicities, all faiths, and all lingual groups. The mandate he has got is from all these diverse parties. But he admitted that there are citizens who have not voted for him, or the candidates fielded by his political alliance. AKD and his Government accept that for a vibrant democracy – a necessity for sustainable development, there should be a multiparty system. It requires the recognition and appreciation of diverse views. This is the foundation of society being promoted under his rule. But for people to participate in development activities, there should also be the observance of the Rule of Law. AKD proudly announced that there should be no one who is above the law and all are under the law. In my view, this rule should be applied to the Executive President as well. A recent example of a President flouting this rule relates to RW who was found guilty by the Supreme Court for violating the Constitution by not holding the local government elections in time5. But RW, instead of observing the Rule of Law, defended his decision not to hold the local government elections implying that he would not obey the Supreme Court’s judgment6. This is a dangerous path for democratic inclusive development. Hence, AKD should not permit anyone to ridicule judicial judgments under his rule. When this precedent is established, it will be observed by future generations as Sri Lanka’s moral and ethical foundation for societal development. It is an essential requirement for inclusive development. Connected to this is his ‘clean Sri Lanka’ program which has gone beyond the environmental aspects of cleaning. It calls for an attitudinal and behavioural change in Sri Lankan people, on one side, and changing the behaviour of Parliamentarians, on the other. In the past, especially during the previous RW regime, Parliament became a place which did not give the best example of behaviour, accountability, and moral ethics to Sri Lankan people. On one occasion, RW speaking in Parliament said that there was no local government election and therefore there was no question of postponing the elections7. When the Supreme Court ordered that the local government elections should be conducted in terms of the prevailing laws, a government party legislator proposed that privileges of Parliament have been breached by an interim order of the Supreme Court8. These are only two glaring instances of immoral and unethical behaviour. These are clear cases of the non-observance of the accountability principle by legislators but there are many more. AKD stressed that Parliament cannot continue to act like this, and it should be brought under the supervision of the public eye. Regarding the behaviour of people, he said that the current ethos and norms should be changed to build a responsible society that appreciates each other. These are what economists call the defects in the institutional structure of the country. They have been branded as destructive institutions and they should necessarily be changed into inclusive institutions if Sri Lanka is to prevent itself from being a failed nation9. AKD also justified, quite correctly, the decision of his Government to go along with the prevailing Extended Fund Facility or EFF from IMF and the associated debt restructuring program. He said that the depth of the economic issue facing Sri Lanka does not leave room for making even the slightest mistake by the Government. It will be fatal to the economic life. Hence, to bring order to the chaos-stricken economy and maintain the trust and confidence of the international community, the Government has decided to be within the parameters set by IMF. He said that the third review of EFF is under way and will be completed by 22 November. This was done as expected10. Debt restructuring with bilateral creditors and commercial creditors, mainly the International Sovereign Bond or ISB holders, will be completed as agreed with them previously by end-December 2024. These are significant achievements with respect to IMF facility contrary to the suspicions of the critics of the AKD Government. However, the external debt restructuring without a significant haircut will leave a massive external sector gap of about $ 17 billion by 2027 as projected by IMF in May 2024 based on the estimated foreign inflows and outflow. It will simply pass the obligation onto the future generations. To avoid another debt crisis and free the future generations of the likely burden falling on them, AKD Government should increase the net foreign inflows in 2025 and beyond through an improvement in the export of goods and services to about $ 45 billion by 2030 as targeted by the Export Development Board11. This is an ambitious target but should necessarily be attained. Proceeding with IMF will help Sri Lanka to tackle the issues in the nominal side of the macroeconomy. That is made up of the inflation, exchange rate, balance of payments, and the government budget. But the development of the real side of the macroeconomy, that is, the production of goods and services, is outside this IMF program. The real sector development will allow Sri Lanka to deliver prosperity to people, improve their living standards, generate employment, and repay external debt by facilitating the earning of foreign exchange through the export of goods and services. For this, a separate plan is necessary. I have presented this case earlier in a separate article12. AKD has recognised this fact. He has proposed to take some immediate measures, known as picking low-hanging fruits, and initiating programs to create a turning point in Sri Lanka’s economy. As low-hanging fruits, he has identified five key areas. They are, information and communication technology or ICT, tourism, use of harbour services, agriculture, and fisheries. These five sectors will help Sri Lanka to increase the incomes of the people, generate employment, and promote consumption which is at a low ebb now. However, given the scale of the foreign funding needed to finance the external financing gap in the immediate future, all these five sectors will not help AKD to generate sufficient foreign exchange income to meet the requirements. They are also medium-term developments rather than quickly pickable fruits. Also, a sector like tourism, though AKD expects to increase the number to 4 million per annum generating a tourism income of $ 8 billion in the next 3-4 years, has two issues to be solved immediately. One is the limited carrying capacity with the available hotel, airport, and transport facilities. These represent investments to be achieved in the medium term rather than immediately. Hence, if Sri Lanka starts investing in these infrastructure facilities immediately, it can attain observable results only after about five years. The second is the low domestic value addition in the tourism sector. To maintain tourists, Sri Lanka should import fuel to power their transportation and electricity generation, vehicles, and above all, foods and beverages. In addition, road and airport expansion also involve foreign exchange expenditure. In these circumstances, the domestic value addition will be only the profits of the hotels, salaries paid to local employees, and purchase of utilities from the domestic market. Hence, out of the $ 8 billion earned as gross income, the net domestic value addition is projected to be about $ 2-3 billion. ICT sector also faces the problem of quick market access and lack of talented personnel. Market access can be achieved through comprehensive economic cooperation agreements with buyer countries on one side, and partnering with seller countries, on the other. In this case, renegotiating the abandoned Economic and Technical Cooperation Agreement or ETCA with India should be done by AKD government as a matter of priority. Partnership with Indian ICT firms will provide quick market access to Sri Lankan ICT developers. However, a caveat in ICT sector is the advancements in artificial intelligence or AI which will take over many of the routine and programming jobs from human workers. Developed countries attempt at resolving this issue by evolving with AI13. Without an AI base, Sri Lanka cannot do this. As a turning point, AKD is planning to rely on the development of a digital economy to improve the efficiency and hence, the productivity, in the economy, and the introduction of new technology to Sri Lanka increase its value addition. These are worthwhile medium-term goals to be pursued by the country to make it a rich country in the long run. However, that alone will not help the country due to the scanty natural resource base in the country. Sri Lanka’s only available resource is the brain power of its people. This sector faces two issues which AKD has not recognised in his plan. One is the fast ageing of the Sri Lanka’s population. According to the projections by Economic and Social Commission for Asia and the Pacific or ESCAP, Sri Lanka is fast ageing with a median age of 33 in 2025 rising to 40 by 205014. This is a fast increase since 1960 when the median age stood at 18. With an ever-rising low number of young people, Sri Lanka is fast losing its demographic dividend. The second is the increased migration of the professionals in the country which has accelerated during the last three years. The loss of trained professionals is an impediment for Sri Lanka to attain a sustained economic growth. AKD should lay foundation for converting this brain drain to a brain gain. Overall, AKD’s policy statement is comprehensive, well-designed, and quickly implementable. He has not gone for a long-term dream like converting Sri Lanka to rich country by 2048 as was done by RW. His dream was limited only to words without action. In contrast, AKD has tried to tackle immediate as well as medium-term issues. This represents a visionary dream. As argued above, this dream should be converted to an action plan which should be monitored continuously to ensure rapid progress and resolve issues. 1An English translation is available at: https://pmd.gov.lk/news/the-full-speech-delivered-by-president-anura-kumara-dissanayake-at-the-inauguration-of-the-first-session-of-the-tenth-parliament/ 2https://politicaldictionary.com/words/its-the-economy-stupid/ 3https://www.dailymirror.lk/opinion/Why-Ranil-is-so-Confident-of-Winning-the-Presidential-Election/172-291758 4https://economynext.com/sri-lankas-former-president-calls-for-experienced-members-to-be-sent-to-parliament-184036/ 5https://timesofindia.indiatimes.com/world/south-asia/sri-lanka-top-court-finds-president-wickremesinghe-guilty-of-unlawful-conduct-over-election-delay/articleshow/112716801.cms 6https://www.instagram.com/colombogazette/reel/C_Fq1EtOqaE/ 7https://citizen.lk/article/watch-there-is-no-election-to-be-postponed-ranil-tells-parliament 8https://ceylontoday.lk/2023/03/08/dolawatte-raises-privileges-issue-over-court-order/ 9This issue has been treated in detail here: https://www.ft.lk/columns/What-can-AKD-and-also-SP-and-RW-learn-from-Economics-Nobel-Laureates-in-2024/4-768187 10https://www.imf.org/en/News/Articles/2024/11/23/pr24435-imf-team-reaches-staff-level-agreement-with-sri-lanka 11https://www.ft.lk/top-story/EDB-targets-45-b-export-revenue-by-2030-amid-economic-overhaul/26-769471#:~:text=EDB%20targets%20%24%2045%20b%20export%20revenue%20by%202030%20amid%20economic%20overhaul,-Thursday%2C%2021%20November&text=Sri%20Lanka%20has%20set%20its,within%20the%20next%20five%20years. 12https://www.ft.lk/columns/AKD-s-top-priority-should-be-to-appease-a-population-boiling-from-within/4-767000 13https://www.youtube.com/watch?v=jIL5pVqFceA 14https://www.population-trends-asiapacific.org/data/LKA

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