Friday, December 6
Survivors share chilling accounts of the Uvalde school shooting as community grapples with loss
Politics

Survivors share chilling accounts of the Uvalde school shooting as community grapples with loss

The devastating tragedy at Robb Elementary School in Uvalde, Texas, has left the community in shock, with harrowing testimonies from survivors shedding light on the events of the fateful day. On Tuesday, an 18-year-old gunman, Salvador Ramos, entered the school and carried out a horrific attack, resulting in the deaths of 19 children and two teachers. As details continue to emerge, two young survivors have shared their accounts of how they managed to survive the massacre. Miah Cerrillo, an 11-year-old student, recounted the terrifying moments when the shooter entered her classroom. Speaking to CNN, she described how Ramos immediately killed a teacher before turning his attention to the students. The chaos unfolded rapidly, and in an attempt to escape the attacker’s notice, Miah covered her...
European industry competitiveness takes center stage in upcoming legislative cycle
Business

European industry competitiveness takes center stage in upcoming legislative cycle

The future of European industry is set to play a pivotal role in shaping the European Union’s (EU) priorities in the coming years. With global powers like the United States and China driving fierce competition, the EU is determined to remain a key player on the international stage. To address this challenge, European Commission President Ursula von der Leyen has tasked former Italian Prime Minister Mario Draghi with conducting a comprehensive analysis of the bloc’s competitiveness. Draghi’s findings highlight critical obstacles, including high energy costs and lagging productivity in the technology sector, which must be addressed to secure Europe’s economic future. In a detailed report shared with ambassadors from member states and leaders in the European Parliament, Draghi emphasized that...
Judge’s ruling opens door for legal betting on congressional elections
Politics

Judge’s ruling opens door for legal betting on congressional elections

For the first time in U.S. history, residents are now legally allowed to bet on the outcome of congressional elections. This unprecedented opportunity emerged on Thursday after a judge ruled in favor of permitting such wagers, a decision that has placed Kalshi, a New York-based startup, at the center of this groundbreaking development. Shortly after the ruling, Kalshi began accepting bets on which political party would gain control of the Senate and House in November’s elections. The company, which offers “prediction contracts” — simple yes-or-no bets on political outcomes — is operating under a temporary allowance, as the legality of such betting remains under scrutiny by regulators. Despite multiple requests for comment, neither Kalshi nor its attorney provided further insight into the s...
ECB reshapes monetary policy with a focus on deposit facility adjustments
Business

ECB reshapes monetary policy with a focus on deposit facility adjustments

September proved to be a pivotal month for the European Central Bank (ECB), as it announced significant updates to its monetary policy framework. On September 18, the ECB made adjustments to two of its three key reference interest rates, signaling a renewed focus on the deposit facility. This move underscores the ECB’s efforts to fine-tune its policies and ensure the effective transmission of monetary decisions across the eurozone economy. The deposit facility, often overlooked outside financial circles, has now taken center stage in the ECB’s strategy. While it may seem technical, this mechanism plays a vital role in shaping the money markets and influencing broader economic conditions. The growing importance of the deposit facility The deposit facility, which allows banks to deposit exce...
Trump alleges political motives behind alleged assassination attempt, blames Biden and Harris
Politics

Trump alleges political motives behind alleged assassination attempt, blames Biden and Harris

Donald Trump, the former president and current Republican presidential candidate, claimed on Monday that recent remarks from President Joe Biden and Vice President Kamala Harris labeling him a threat to democracy had inspired what he described as the latest attempt on his life. Trump, however, provided no evidence to support his assertions. Critics pointed to his own history of provocative statements and calls for legal actions against political opponents as part of the broader context. As the U.S. presidential election approaches, with early voting already underway in some states, the 2024 campaign season has proven to be one of the most turbulent in recent memory. The alleged incident on Sunday in Florida marked a dramatic moment in the race. Trump emerged unscathed and commended the Sec...
Understanding Federal Reserve rate cycles: Lessons for investors
Business

Understanding Federal Reserve rate cycles: Lessons for investors

The Federal Reserve’s (Fed) approach to rate adjustments has consistently challenged market expectations, offering important lessons for investors navigating monetary policy cycles. Historically, the disconnect between market predictions and the Fed’s actual actions has been a recurring theme, often leading to surprises that reshape investment strategies. Analysts caution that the central bank may still be “behind the curve,” implying that its future policy adjustments could be more aggressive or profound than anticipated. Over the decades, investors have often struggled to accurately predict the trajectory of interest rates. Since 1990, there have been six significant rate-cutting cycles, with markets underestimating the magnitude of cuts in four of them: 1990, 2000, 2007, and 2019. Only ...
Retired U.S. military leaders endorse Kamala Harris, warn against Trump’s return
Politics

Retired U.S. military leaders endorse Kamala Harris, warn against Trump’s return

Ten retired senior U.S. military leaders have publicly endorsed Vice President Kamala Harris for the presidency, asserting in a letter released Monday that she is uniquely qualified to serve as commander-in-chief. The group, which includes retired General Larry Ellis and retired Rear Admiral Michael Smith, also issued a stark warning about former President Donald Trump, labeling him a threat to national security and democratic values. The letter highlighted what the signatories described as Trump’s “chaotic approach” to critical defense matters, specifically citing his handling of Afghanistan. They pointed to his 2020 deal with the Taliban, which allowed 5,000 fighters from the group to be released, many of whom returned to the battlefield, as an example of his unpredictable and dangerous ...
Andalusian president seeks stronger ties with China through high-profile trade mission
Business

Andalusian president seeks stronger ties with China through high-profile trade mission

Juanma Moreno, President of the Junta de Andalucía, has embarked on an institutional visit to China, aiming to bolster Andalusia’s presence in key industrial and tourism markets across Asia. Running until September 5, the mission is designed to position the autonomous region as an attractive hub for major Chinese corporations and affluent travelers. This diplomatic endeavor unfolds amid ongoing trade tensions between China and the European Union. Despite these challenges, Andalusia has emerged as a strategic entry point for Chinese businesses, particularly in the renewable energy and automotive sectors. In recent years, the region has successfully attracted 15 Chinese business ventures, bringing an estimated €700 million in investments. Strengthening industrial connections One prominent ex...
Kamala Harris outpaces Donald Trump in fundraising efforts for the upcoming election
Politics

Kamala Harris outpaces Donald Trump in fundraising efforts for the upcoming election

In a significant move ahead of the 2024 U.S. presidential election, Vice President Kamala Harris’ campaign reported an impressive fundraising haul in August, surpassing former President Donald Trump’s fundraising by a considerable margin. Harris, who officially launched her candidacy earlier this year, raised $361 million in just one month, a sum more than double what Trump’s campaign raised during the same period. This record-breaking amount came from nearly three million individual donors, highlighting the widespread support and enthusiasm surrounding her candidacy. In contrast, Trump’s campaign reported raising $130 million in August. Despite the strong figure, it fell far behind Harris’s fundraising total. By the end of the month, Harris’s campaign had accumulated a total of $404 milli...
Berkshire Hathaway reaches new milestone with impressive growth and stability
Business

Berkshire Hathaway reaches new milestone with impressive growth and stability

Berkshire Hathaway, the investment firm led by Warren Buffett, has achieved a remarkable milestone, becoming the first U.S. technology company to surpass a $1 trillion market capitalization. This achievement has drawn attention not only for its scale but also for the way it outperformed major technology players like Apple, Microsoft, Amazon, and Nvidia—until it was overtaken by the Saudi Arabian oil giant, Aramco, in the global markets. Buffett’s conglomerate is on track to achieve a 30% growth for the year, with much of this success driven by strong performances in its core insurance operations and a broader positive outlook on the economy. As the chief investment officer at Check Capital Management, Steve Check, remarked, “Berkshire has done it the slowest but safest way possible.” His f...