The band Cheat Codes hints at the incredible video they will be making with Bella Thorne as director.
The band Cheat Codes hints at the incredible video they will be making with Bella Thorne as director.
Working from home has been surprisingly successful for global banks during the first year of the coronavirus pandemic but is losing its effectiveness, two prominent industry executives said on Tuesday at a virtual meeting of the World Economic Forum. "It's remarkable it's working as well as it is, but I don't think it's sustainable," said Barclays Chief Executive Jes Staley. For employees to focus, Erodes said: "It takes a lot of inner strength and sustainability (without) the energy that you get from being around other people."
A fan theory about a pivotal scene in the 1994 Disney movie The Lion King is ruining childhoods on TikTok. The dark theory suggests that Scar, the film’s villain, eats his brother Mufasa after killing him. After Simba runs away, it’s never explained what happens to Mufasa’s carcass.
Farmers protesting against new market-friendly agrarian laws on Tuesday stormed India’s historic Red Fort, posing a major challenge to Prime Minister Narendra Modi’s government and potentially threatening the unity of one of India's longest protest movements. The main act in India on Tuesday was supposed to be the Republic Day parade marking the anniversary of the adoption of the country’s constitution on January 26, 1950.The pandemic had forced a shortening of the traditional programme this year but even the truncated ceremonies had enough pomp and splendour to dominate the news.The 72nd Republic Day parade featured the usual colourful displays of India’s diversity capped by a military parade that included, for the first time, a showcasing of India’s Rafale jets, newly bought from France, making a daring debut of “Vertical Charlie” formations over the majestic Rajpath ceremonial boulevard in New Delhi.But a buildup of slow-tech farm tractors rained on the military parade on Tuesday, stealing the thunder of sophisticated fighter jets and dominating news coverage.Tens of thousands of farmers protesting against new market-friendly farm laws broke through police barricades to reach the historic, Mughal-era Red Fort in the heart of the Indian capital in the afternoon, after the official parade had ended.On the ramparts of the 17th century red sand stone fort, where the Mughals, colonial British and independent Indian administrations have raised their flags, some of the protesters hoisted a myriad mix of farm union and religious community banners.After more than two months of demonstrations, farmers on Tuesday answered the call for a Republic Day protest, gathering around 8am local time at border points on the National Highway No. 1 linking the Indian capital to the neighbouring state of Haryana. Chanting slogans, dancing to protest songs, and showered with traditional flower petals, the scenes at capital’s border points looked more like harvest festivals than angry protests.By noon, the live coverage headlines had switched to police firing tear gas as farmers broke through barricades preventing their entry into New Delhi. As the hashtags #KisanTractorRally (Farmers’ Tractor Rally) and #KisanTractorRallyLive trended on Twitter, news footage showed farmers surging past overwhelmed police lines, tearing down roadblocks in some places, as police fired tear gas and conducted baton charges in some places.Police said one protester died after his tractor overturned but farmers said he was shot. Protesters laid the victim’s body, draped in the Indian tricolour flag, on the road for a while and sat around the corpse. Television channels showed several bloodied protesters and at least 86 police officers were injured, according to an official statement.. One of India’s longest-running farmer protest movements reached an alarming peak on Republic Day, exposing Prime Minister Narendra Modi's failure to comprehend the level of opposition to the controversial new agricultural laws and to address the issues that have united powerful, and often competing, voting blocs against his ruling Bharatiya Janata Party (BJP).“Modi has harvested decades of agrarian anger with the farm laws. Today’s events show that the state underestimated the might of the people. The state should have known better,” said Amandeep Sandhu, a writer who documented agricultural practices in India’s Punjab farming heartland in his book, “Panjab: Journeys Through Fault Lines”.Songs, vendors add a fairground flair The farmers crisis was sparked in September 2020, when the government crammed complex legislative changes into three new laws and pushed them through parliament during an opposition walkout. They were passed as Covid-19 rages through India, with the country reporting the world’s second-highest number of cases.The new laws make farmers sell their produce on the open market – including agribusiness corporations and supermarket chains – instead of through state-run institutions that guarantee a minimum price.Modi maintains the “reforms are needed for development", and has warned that, “we cannot build the next century with the laws of the previous century.">> For more: Why Indian farmers are not convinced by Modi’s promised market miracleSince he came to power in 2014, Modi has opted for shock policy announcements with little preparedness that have left the populace scrambling to cope with the fallout – humanitarian and economic – of his populist moves.Early last year, the prime minister sparked a mass exodus on foot of migrant workers from cities to villages across the country when he suddenly announced a lockdown without coordinating emergency services, giving people just four hours to prepare for one of the world’s strictest nationwide confinements.By the end of November, with the lockdown lifted, a reverse human flow saw farmers from the North Indian agricultural heartland streaming toward New Delhi, answering a call to protest the discredited farm reform laws.Over the past two months, the farmers have held a sit-in on the outskirts of New Delhi, setting up outdoor kitchens to feed tens of thousands of protesters making up one of India’s largest sustained protests.The protest camp – complete with vendors plying snacks, thermal underwear, soap, hair oil bottles and other essentials – have had a fairground atmosphere, sparking a rich counter culture of literature and protest songs released by leading Punjabi singers.But the protest has also had a human cost. Camping outdoors in the North Indian winter, through chilly rain has claimed more than 160 lives, according to an independent researcher. Indian media have attributed the deaths to the weather, illness or suicide.Unfazed by these challenges, the farmers of the Punjab and neighbouring states have stuck to their demands, with their protest, garnering support from farmers across the nation and capturing the imagination of Indians opposed to Modi’s Hindu supremacist policies but lacking the mobilisation to confront his government.For months, the protest movement managed to unite farmers and landless agricultural labourers regardless of their caste, class, gender and bridging ideological divides between leftist unions and traditional community organisations.Enter the Supreme Court Caught unprepared by the sheer scale and determination of the protesters, the government has held 10 rounds of talks with farm union representatives, with the issue moving up to the country’s highest court.The farmers are demanding a complete repeal of the new laws, which they fear will remove the scant protection they have enjoyed, leaving them at the mercy of corporate giants without the means to ensure they get fair treatment. Earlier this year, the Indian Supreme Court ruled that the laws should be temporarily halted until a committee of experts, appointed by the court, could consult with government officials and protesting farmers to try to find a solution to the dispute.It failed to break the impasse. Farm union representatives questioned the makeup of the experts committee, noting that all four members were in favour of the agricultural laws and sparking a Supreme Court statement expressing disappointment over the “unnecessary aspersions” cast on the court-appointed panel.The government’s offer to temporarily halt the laws for 18 months was viewed by the farmers as an attempt to “buy time", according to Sandhu. “By pushing the issue by 18 months, the government was trying to buy time to break the protests, and probably buy the protest leaders. It also meant pushing the issue to 2022, closer to the 2024 general elections, which suits the BJP since they can then make election promises, as they did in 2014, and win the election,” he explained.A tale of competing protest trailsIn the lead-up to Tuesday’s planned rally, the Supreme Court last week asked the government to withdraw its plea against the tractor rally on Republic Day and reiterated that it will not pass orders against the protest march.In the absence of a court ruling, the government attempted to block the January 26 rally into the heart of the Indian capital, opting instead for a march to a site in Haryana, well outside the city.As protest leaders and the authorities haggled over march routes, an umbrella group of 32 farmers unions – the Sanyukt Kisan Morcha (SKM) – agreed to the government’s plan on Monday.Another umbrella group – the Kisan Mazdoor Sangharsh Committee (KMSC) – however stuck with the original plan to march peacefully into the heart of the Indian capital.In a statement issued late Tuesday, the SKM condemned the violence on Republic Day, blaming “antisocial elements” as well as the KMSC for the breaking the “rules and routes”.There were no statements about a planned farmers’ march on foot to Parliament on February 1, when the country’s new budget will be presented.'Power creeps up' protester ranksFollowing the Republic Day events, Sandhu worried that “the farmers’ factions are falling into a trap” of breaking the extraordinary unity between diverse groups within the protest movement.“Nobody understood why the decision was made to route the protest by keeping farmers on the outskirts of Delhi. The SKM didn’t spend enough effort to make the people understand. I think the SKM also underestimated the farmers by deciding everyone should follow the route. This is how power creeps up,” he noted.By the end of the day, Twitter posts on the farmers protest had lost some of the morning's sparkle. “Violence in a protest either by protestors against the state, or the state against protestors must be condemned. This is not a neutral position, this is a facet of democracy. Arson is illegal, it’s not a right. Disrespecting national symbols is not symbolic it’s illegal,” tweeted lawyer Sherbir Panag.The #KisanTractorRally hashtag also drew posts from Modi’s supporters calling on the government to react to “terrorists” and “anti-nationalists” who used “tractors as weapons”.Sandhu declined to predict how Tuesday’s events could affect the farmers movement in the immediate future. “It’s clearly too early to say,” he insisted. But he was convinced the chatter on Twitter, including calls for a government crackdown, would not end the crisis. “Twitter talk does not change the reality on the ground for the farmers. They will continue to push for their demands. The support the SKM instituted could get questioned, I think. But the farmers aren’t going anywhere, the government can’t simply wish them away.”
"He's just incredible and treats her like a queen," Mary Fitzgerald said of Keo Motsepe
Joe Biden cited George Floyd’s murder as a ‘turning point’ as he signed a string of executive orders to tackle racial equity. The president said that he was acting on racial injustice and discrimination because “not only it is the right thing to do but we will all be better off for it.” Mr Biden signed executive orders stopping the Department of Justice from renewing contracts with private prisons, and others aimed at ending discriminatory housing practices, respecting sovereignty of tribal governments, and fighting Xenophobia against Asian Americans in the wake of Covid-19.
After increased deal flows helped revenue from Asia to jump by about a third, compensation for Morgan Stanley's investment bankers in the region was raised by 20%, the report said. At Goldman Sachs, it will rise by 15%, the Bloomberg report https://bloom.bg/3sYPBHC added.
(Bloomberg) -- Formidable Asset Management LLC, which gained about 83% last year, said it plans to take a nimble and active approach this year, with the volatility of 2020 showing few signs of slowing down.“Though we are early in the year, the truly bizarre events, both societally and in terms of markets, seem to be continuing in 2021,” the hedge fund’s Chief Executive Officer William Brown and Chief Investment Officer Adam Eagleston wrote in a letter to clients, seen by Bloomberg.Stocks that were “retail favorites” in 2020 could go still higher this year, they said, “buoyed by further fiscal stimulus and gains from prior winnings rolled forward.”The main contributors to the fund’s 2020 performance were its positions in green energy and electric vehicle-related stocks.According to the letter, some of the winners for the fund in 2020 included Nano One Materials Corp., Flux Power Holdings Inc., Maxar Technologies Inc., Workhorse Group Inc. Some 2020 “heartbreakers” included a position in AMC Entertainment Holdings Inc.’s debt and put options on GSX Techedu Inc.Formidable declined to disclose the size of assets under management. Brown, who founded the firm in 2013 in Cincinatti, previously served as managing partner of BBK Capital Partners and as senior vice president at Raymond James. Eagleston was formerly a portfolio manager at Driehaus Capital Management LLC.(Adds firm founded in 2013 in Cincinnati in final paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
HSBC denies taking political stance over China's crackdown in Hong KongBank’s chief executive, Noel Quinn, claims business not in position to question police requests HSBC’s chief executive has ruled out leaving the Hong Kong market. Photograph: Anthony Wallace/AFP/Getty Images
(Bloomberg) -- Fears unleashed by the once-in-a-century pandemic are clinging onto volatility markets even as stocks boom to record highs and Wall Street speculators gorge on every risk.For all the euphoria in markets, the Cboe Volatility Index has stayed elevated in an historic divergence between this gauge of investor fear and rallying equities. The VIX hasn’t closed below 20 since February last year. Its current level of 23 is some six points above the decade average.As Dean Curnutt at Macro Risk Advisors puts it, the VIX is “on an island of its own.” And there are no easy explanations.As the market rotation reduces correlations and increases risk appetite, Wall Street strategists have long expected a spirited drop in the gauge, which uses the options market to measure the 30-day implied volatility of the S&P 500.So here are four theories on why things are not so simple in volatility land.The AftershocksFirst and foremost: Past is prologue. Historically, volatility shocks like the Covid-spurred mayhem in March have taken time to run their course. After all, implied volatility largely reflects what’s recently happened in markets. In the wake of the global financial crisis, it took some 15 months for the measure to normalize.Yet it’s been just 10 months since the stock wipeout that sent the VIX soaring to a record.Given precedent, it could be several months before the fear gauge settles at a more subdued level especially in light of the extended collapse in the global investment and consumption cycle.“The VIX dropped off more quickly than usual but now has entered a slower decline,” said Vance Harwood of Six Figure Investing, a consultancy specializing in volatility. “We are just seeing the normal after-effects of a market crash.”Add delays to vaccine roll-outs, and there are good reasons why it’s a long journey back to a pre-pandemic normal of sorts.Blame TechPerhaps something else is at work too. Hedge fund Man Group, for one, blames the increasingly large weighting of technology in the S&P 500 Index.Tech shares are now approaching a 30% weighting in the U.S. stock benchmark, up from around 20% five years ago, according to Man. Over the past year, investors have piled into these names as part of the stay-at-home trade, leading to sharp sell-offs when sentiment reverses.When a volatile sector comes to dominate the benchmark, “we get more instances of simultaneous increases in equity markets and volatility, notably during the tech bubble of the late 1990s,” strategists at the firm wrote in a note. “Indeed, we see a similar make-up of the S&P 500 today.”No wonder stocks have risen along with implied volatility lately -- bucking the historic norm.In Man’s view, a “gentle rebalancing” of the equity market leaderboard at the expense of the tech sector would spur a fall in the VIX. Otherwise, brace for higher implied volatility for longer.Call FeverThe explosion of call-option buying has also become an undeniable force in markets, with some blaming it for pushing around the underlying stocks. A more direct impact has been to raise the level of equity volatility overall.Spurred by speculative retail fever, the smallest options traders are making record bullish bets, with volumes running 20% higher than last summer, according to Sundial Capital Research. In the latest frenzy, a record 1 million GameStop Corp. call options were purchased on Friday, followed by another 500,000 contracts on Monday.Dealers who have sold these calls may buy index implied volatility to hedge themselves -- adding upward pressure on the VIX.Something like this was at work back in August and September, when stocks and volatility moved in tandem.Read More: Playing With Volatility? Get to Know ‘The Greeks’: QuickTakeSince the VIX is calculated using prices of both puts and calls, when prices rise sharply for the latter, it can push up the index in the same way hedging demand can.In short, demand for both single-name and index calls may be driving the VIX higher in what’s become more an expression of greed than the traditional signal of fear.“There’s been a lot of call buying, not just on the index but on single stocks,” said Michael Purves, a strategist and founder of Tallbacken Capital Advisors. “And that has been one of the reasons why the VIX has been elevated.”Shortage of ShortsImplied volatility moves on options supply and demand, and since last year’s Covid crash a reliable source of the former has gone missing from markets.Prior to March 2020, institutional investors sold options en masse as a way to generate income in a low-yield world to take advantage of the volatility risk premium, or the tendency of traders to demand higher compensation for future uncertainty compared with what actually comes to pass.After many of these players bailed on that trade, there’s less selling pressure. And that means the elevated fear gauge has a lot to do with market technicals and less about the pandemic-driven business cycle.“A lot of short-volatility guys got destroyed in March,” said Purves. “People are still very nervous to sell it.”(Updates with details of options trades under Call Fever.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
She was previously released from jail to home confinement with her mother
Larry Kudlow, the former CNBC host turned Trump economic advisor, has found a new media job after his time at the White House — and it’s not with his former employer. Kudlow, who took on the unenviable job of predicting a quick V-shaped recovery for the nation in the midst of the coronavirus pandemic and […]
Black Voices for Black Justice Fund Announces 19 Awardees in Colorado, Georgia, North Carolina, and D.C. Who Are Working to Advance Racial Justice
The interim chief of the Capitol Police apologized Tuesday for failing to prepare for what became a violent insurrection despite having warnings that white supremacists and far-right groups would target Congress. Yogananda Pittman, in prepared testimony before Congress, said that the Capitol Police “failed to meet its own high standards as well as yours." “We knew that militia groups and white supremacists organizations would be attending,” Pittman wrote.
Balfour Beatty Communities Foundation’s annual academic scholarship program is accepting applications for the 2021/2022 academic year. The program recognizes residents of Balfour Beatty Communities-owned and managed properties who are active in their local community, show academic promise, and demonstrate financial need.
U.S. President Joe Biden spoke to Russian President Vladimir Putin on Tuesday for the first time since taking office and raised concerns about Russian activities including the treatment of jailed Kremlin critic Alexei Navalny, the White House said. White House spokeswoman Jen Psaki announced the phone call between the two leaders at her daily briefing. It came as Biden adjusts U.S. policy in a more robust way toward Russia after his predecessor, Donald Trump refused to take on Putin directly.
Tivoli Lighting introduces its revolutionary Litesphere True RGB+W LED strand light.
Peach & Lily's cult favorite hydrating serum has a massive following that raves about its laundry list of restorative properties.
UK Information Commissioner says information was deleted after her office discovered it
First Command reports career military families who work with a financial coach are out-saving their DIY colleagues.
Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock dividend of $0.10 per share, payable March 1, 2021, to stockholders of record on Feb. 5, 2021, as approved today by the Wells Fargo board of directors. Wells Fargo has approximately 4.1 billion shares outstanding.