Fitch Ratings has upgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’, from ‘RD’ (Restricted Default). Fitch typically does not assign an Outlook to sovereigns with a rating of ‘CCC+’ or below. Fitch has also upgraded the Local-Currency IDR to ‘CCC+’, from ‘CCC-‘, to align with the Long-Term Foreign-Currency IDR, as the risk of another default on local-currency debt has been reduced by the completion of the international sovereign bond restructuring and an improved outlook for macroeconomic indicators. Sri Lanka completed the local-currency portion of its domestic debt optimisation in September 2023, following the exchange of treasury bills and provisional advances held by Central Bank of Sri Lanka’s into new treasury bonds and bills. The upgrade of the Long-Term Foreign-Currency IDR reflects Fitch’s assessment that Sri Lanka has normalised relations with a majority of creditors, after the announcement of final results of the invitation to exchange the outstanding stock of international sovereign bonds with a 98% participation rate. One bond series with non-aggregated collective action clauses did not meet the required 75% level. Without this bond series, the acceptance results imply a restructuring of 96% of total commercial external debt. The debt exchange will convert 11 international sovereign bonds and accumulated past due interest (PDI) into a mix of four macro-linked bonds, one governance-linked bond and one PDI bond. Bondholders can choose the local alternative governed by domestic law, with rupee-denominated bonds and a US dollar bond with step-up coupon payments. Sri Lanka is also restructuring debt to commercial and official creditors. An agreement in principle has been reached with most commercial creditors including international banks for an amount of about USD200 million. Restructuring of debt owed to official creditors is expected to be completed by end-2024. Improved External Finances: Sri Lanka’s foreign-currency debt restructuring offers substantial upfront debt repayment relief, with no foreign-currency bond maturities until 2029. The first amortisation on the macro-linked bonds, which have low coupon rates until 2032, starts from 2029. Governance linked bond amortisation begins in 2034 and the US-dollar step-up bonds start amortisation in 2029. We expect foreign-exchange reserves to reach USD8.7 billion by 2026, also reflecting debt relief over the period. The debt restructuring has reduced the government’s debt service burden and liquidity risks, but general government debt/GDP and the interest/revenue ratio are likely to stay high in the medium term. The restructuring under Fitch’s baseline assumptions lowers general government debt/GDP to about 90% by 2028, while Fitch forecasts the interest/revenue ratio to decline to 42%, still well above the ‘CCC’ median of 16%. This is, however, a large drop from the 67% in 2021, prior to the sovereign default. Sri Lanka has a weak long-term revenue raising record, but the government implemented several major tax measures to boost revenue collection and achieve debt sustainability. Fitch expects general government revenue/GDP to exceed 15% by 2026, from 11% in 2023, broadly in line with IMF programme projections. Downside risks could be substantial if the government fails to raise revenue. Strong Mandate from Election Outcome: Sri Lanka’s September 2024 presidential election was won by a leader of the opposition National People’s Power, which secured over two-thirds majority in the legislature. Fitch expects the new government to support progress on reforms. The new government has said it will continue to implement the 48-month IMF extended fund facility, which began in March 2023. Sri Lanka has made major progress on the programme under the previous government. Sri Lanka’s economy is recovering after a contraction in 2022 and 2023. In seasonally adjusted terms, real GDP growth in 3Q24 recovered to 5.2%, after contracting by 7.4% in 2022 and 2.2% in 2023. This was driven by an 11.1% pick-up in industrial growth, while services grew by about 2.8%. We expect growth to recover to 4.1% in 2024 and average 3.6% over 2025-2026. The Central Bank’s policy measures have largely reversed a rise in inflation, which peaked in September 2022 at 67.2% (seasonally adjusted). Inflation continues to decline, falling to -2.1% yoy in November 2024. The central bank has eased monetary policy significantly, reducing the standing deposit facility rate by a cumulative 800 bp since June 2023. Fitch expects further easing over 2025-2026, in line with its expectation that underlying inflationary pressure will remain muted and the central bank will meet its medium-term inflation target of 5.0%. Economic reforms implemented since the crisis period have improved headline macroeconomic metrics, reduced systemic risks and support banks’ operating flexibility. Asset quality stress has peaked and declining credit costs are driving higher profitability. Pressure on foreign- and local-currency funding and liquidity has eased on better external flows and banks’ efforts to preserve liquidity. Fitch expects banks to regain access to foreign-currency wholesale funding, following the restoration of the sovereign’s creditworthiness. Sri Lanka has an ESG Relevance Score of ‘5’ for Political Stability and Rights as well as for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. These scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in Fitch’s proprietary Sovereign Rating Model (SRM). Sri Lanka has a medium WBGI ranking in the 38th percentile, reflecting a recent record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption. Factors that could, Individually or collectively, lead to negative rating action/downgrade -Public Finances: An increase in government debt/GDP, potentially reflecting an inability to further raise revenue, resulting in wider budget deficits. – External Finances: Inability to rebuild foreign-exchange reserves that weakens debt repayment capacity.By DAVID A. LIEB Artificial intelligence. Abortion. Guns. Marijuana. Minimum wages. Name a hot topic, and chances are good there’s a new law about it taking effect in 2025 in one state or another. Many of the laws launching in January are a result of legislation passed this year. Others stem from ballot measures approved by voters. Some face legal challenges. Here’s a look at some of the most notable state laws taking effect: Hollywood stars and child influencers California, home to Hollywood and some of the largest technology companies, is seeking to rein in the artificial intelligence industry and put some parameters around social media stars. New laws seek to prevent the use of digital replicas of Hollywood actors and performers without permission and allow the estates of dead performers to sue over unauthorized AI use. Parents who profit from social media posts featuring their children will be required to set aside some earnings for their young influencers. A new law also allows children to sue their parents for failing to do so. Social media limits New social media restrictions in several states face court challenges. Related Articles National Politics | Trump has pressed for voting changes. GOP majorities in Congress will try to make that happen National Politics | Exhausted by political news? TV ratings and new poll say you’re not alone National Politics | Trump vows to pursue executions after Biden commutes most of federal death row National Politics | Elon Musk’s preschool is the next step in his anti-woke education dreams National Politics | Trump’s picks for top health jobs not just team of rivals but ‘team of opponents’ A Florida law bans children under 14 from having social media accounts and requires parental consent for ages 14 and 15. But enforcement is being delayed because of a lawsuit filed by two associations for online companies, with a hearing scheduled for late February. A new Tennessee law also requires parental consent for minors to open accounts on social media. NetChoice, an industry group for online businesses, is challenging the law. Another new state law requires porn websites to verify that visitors are at least 18 years old. But the Free Speech Coalition, a trade association for the adult entertainment industry, has filed a challenge. Several new California measures aimed at combating political deepfakes are also being challenged, including one requiring large social media platforms to remove deceptive content related to elections and another allowing any individual to sue for damages over the use of AI to create fabricated images or videos in political ads . School rules on gender In a first nationally, California will start enforcing a law prohibiting school districts from adopting policies that require staff to notify parents if their children change their gender identification . The law was a priority for Democratic lawmakers who wanted to halt such policies passed by several districts. Abortion coverage Many states have passed laws limiting or protecting abortion rights since the U.S. Supreme Court overturned a nationwide right to the procedure in 2022. One of the latest is the Democratic-led state of Delaware. A law there will require the state employee health plan and Medicaid plans for lower-income residents to cover abortions with no deductible , copayments or other cost-sharing requirements. Gun control A new Minnesota law prohibits guns with “binary triggers” that allow for more rapid fire, causing a weapon to fire one round when the trigger is pulled and another when it is released. In Delaware, a law adds colleges and universities to a list of school zones where guns are prohibited, with exceptions for those working in their official capacity such as law officers and commissioned security guards. Medical marijuana Kentucky is becoming the latest state to let people use marijuana for medical purposes . To apply for a state medical cannabis card, people must get written certification from a medical provider of a qualifying condition, such as cancer, multiple sclerosis, chronic pain, epilepsy, chronic nausea or post-traumatic stress disorder. Nearly four-fifths of U.S. states have now legalized medical marijuana. Minimum wages Minimum wage workers in more than 20 states are due to receive raises in January. The highest minimum wages will be in Washington, California and Connecticut, all of which will top $16 an hour after modest increases. The largest increases are scheduled in Delaware, where the minimum wage will rise by $1.75 to $15 an hour, and in Nebraska, where a ballot measure approved by voters in 2022 will add $1.50 to the current minimum of $12 an hour. Twenty other states still follow the federal minimum wage of $7.25 an hour. Safer traveling In Oregon, using drugs on public transit will be considered a misdemeanor crime of interfering with public transportation. While the measure worked its way through the legislature, multiple transportation officials said drug use on buses and trains, and at transit stops and stations, was making passengers and drivers feel less safe. In Missouri, law enforcement officers have spent the past 16 months issuing warnings to motorists that handheld cellphone use is illegal. Starting with the new year, penalties will kick in: a $150 fine for the first violation, progressing to $500 for third and subsequent offenses and up to 15 years imprisonment if a driver using a cellphone cause an injury or death. But police must notice a primary violation, such as speeding or weaving across lanes, to cite motorists for violating the cellphone law. Montana is the only state that hasn’t banned texting while driving , according to the National Conference of State Legislatures. Tax breaks Tenants in Arizona will no longer have to pay tax on their monthly rent , thanks to the repeal of a law that had allowed cities and towns to impose such taxes. While a victory for renters, the new law is a financial loss for governments. An analysis by Arizona’s nonpartisan Joint Legislative Budget Committee estimated that $230 million would be lost in municipal tax revenue during the first full fiscal year of implementation. Meanwhile Alabama will offer tax credits to businesses that help employees with child care costs. Kansas is eliminating its 2% sales tax on groceries. It also is cutting individual income taxes by dropping the top tax rate, increasing a credit for child care expenses and exempting all Social Security income from taxes, among other things. Taxpayers are expected to save about $320 million a year going forward. Voting rights An Oklahoma law expands voting privileges to people who have been convicted of felonies but had their sentences discharged or commuted, including commutations for crimes that have been reclassified from felonies to misdemeanors. Former state Sen. George Young, an Oklahoma City Democrat, carried the bill in the Senate. “I think it’s very important that people who have gone through trials and tribulations in their life, that we have a system that brings them back and allows them to participate as contributing citizens,” Young said. Associated Press writers Trân Nguyễn in Sacramento, California; Kate Payne in Tallahassee, Florida; Jonathan Mattise in Nashville, Tennessee; Randall Chase in Dover, Delaware; Steve Karnowski in Minneapolis; Bruce Schreiner in Frankfort, Kentucky; Claire Rush in Portland, Oregon; Summer Ballentine in Jefferson City, Missouri; Gabriel Sandoval in Phoenix; Kim Chandler in Montgomery, Alabama; John Hanna in Topeka, Kansas; and Sean Murphy in Oklahoma City contributed.

New disability ministers will ‘champion’ inclusion and accessibility – minister

Relive your childhood summer holidays at these 10 retro Victorian stays

Mavericks star Luka Doncic to be re-evaluated after one month with left calf strainJohnson's 25 lead FGCU past Florida Tech 79-62

AP Business SummaryBrief at 6:36 p.m. ESTAn Italian renewable energy giant and Japan's largest oil and gas company are plugging into Australia's clean energy resources under the banner of a new company. Potentia Energy will be launched at the Sydney Opera House on Monday as an Australian renewable energy firm co-owned by Rome-headquartered Enel Green Power and INPEX. With rights in place for a development pipeline of over seven gigawatts across the country, Potentia is most focused on developing and acquiring assets in NSW, Queensland and Western Australia, chief executive Werther Esposito told AAP. The company is not deterred by the risk of political change, with opinion polls favouring the coalition ahead of the 2025 federal election. "The energy transition will go ahead in any case. There could be an acceleration or slowing down in the process," Mr Esposito said. "Renewables represent, from a technical and economic perspective, the solution for climate change," he said. "I don't think any government could deny that today wind and solar are cheaper than other technologies, and are faster in reaching the phase of deployment and construction and then supply of renewable energy." NSW had suffered some planning delays that had hit investment but there had been a "strong improvement" in the past 12 to 18 months, he said. The company also has a stake in Queensland, particularly in the north's Copperstring area, where the recently elected LNP government has pledged to stick by a massive transmission project begun under Labor. Enel won the bidding in 2024 to develop renewable energy to power a vanadium mining and processing project, which is one of a number of giant resources projects intended to be connected to the $9 billion Copperstring transmission line from Townsville to Mt Isa. WA offered a "huge opportunity" for the deployment of wind farms and battery energy storage systems, Mr Esposito said. With a decades-long footprint in Australia's north and west, INPEX is Japan's largest fossil fuel exploration and production company. Under pressure to reduce its global contribution to climate change, INPEX is already developing the production of liquid hydrogen and ammonia. "They elected Australia as the market to start diversification of the energy mix and huge investment in renewables," Mr Esposito said. "Of course in this regard, Australia is the place to be," he said. Enel and INPEX joined forces in a share purchase agreement in 2023, with the renewables business operating plants comprising 310 megawatts of solar capacity across South Australia and Victoria and a 75MW wind farm in Western Australia. A 93MW solar farm is under commissioning in Victoria and financial close was recently announced for a hybrid 98MW solar and 20MW battery project in NSW. But with international firms lining up to exploit clean energy resources, Australians living alongside projects are demanding a share of future profits through community funds, power bill rebates and other benefits. "The energy transition should be just. To be just it means that you need to support the communities and involve the communities in a proper way," Mr Esposito said. He said Enel was proud of its legacy in providing support to areas facing a changing landscape and the impact of new infrastructure, including community funds, a focus on local hiring and providing training to support new jobs. "It's an approach that is, for us, absolutely a pillar of our strategy," he said. "We are still facing some regulatory ambiguity in what a social licence means, and we are trying to be a leader in the industry in helping and supporting all the key stakeholders in determining and defining what it is."

Freedom is the ability to make choices without encroaching on another person’s rights. It also relates to the power to earn and to live in any way you choose. Individuals who feel free and empowered have more control over their lives, resulting in higher levels of productivity. The advantages of freedom are massive and can lead to a greater sense of wellbeing, a higher GDP per capita and a happier society. Freedoms can be categorized in various ways: the most obvious are freedom of speech, freedom to join political parties, trade unions or clubs and the right to protest. These are essential to society and allow individuals to express their opinions, ideas, values and beliefs freely. Another form of freedom involves the personal freedom to live where you want to, work in any job you choose and pursue any hobby or passion that you desire. This personal freedom can help build self-esteem, allowing individuals to grow and become who they want to be. It can also result in higher levels of personal wealth and a happier and healthier lifestyle. One of the most significant benefits of freedom is that it allows individuals to express themselves and create new ideas that can address societal issues. Freedom of expression can help with scientific and technological breakthroughs, and it can also help to reduce poverty and inequality within a society. The concept of freedom also relates to the ability to live in a country that respects human rights and does not violate the dignity of its citizens. This can include a range of activities, from being able to vote in elections to traveling freely around the world. The right to travel can also provide people with the opportunity to experience different cultures and learn about other countries. There are many different images of freedom, but perhaps the most powerful is that of a freed slave or prisoner. It is this image that has been used most often to illustrate the value of freedom and it is this which we will use as our main illustration. Using the app, you can block distracting apps and websites and set them to be active for a specified period of time. This will allow you to focus and improve your productivity and screen time habits. Freedom users report gaining an average of 2.5 hours of productive time each day. They are more fulfilled, happier with their work and family life and have a healthier relationship with their technology. This tool is ideal for writers, software developers, learners of all kinds and entrepreneurs who need to be able to focus when they are working. It is also useful for people who struggle with procrastination or who are easily distracted by social media, shopping websites and games. It is easy to setup and easy to use. You can get started for free with 7 free Start Now sessions and then upgrade to a Premium account at any time to access all their features.World number one Luke Humphries retained his Players Championship Finals title with an 11-7 victory over teenager Luke Littler in Minehead. Littler, who won the Grand Slam of Darts last week, hit checkouts of 170, 164 and 136 as he threatened to overturn an early deficit, but Humphries held his nerve to win the last three legs. “I’m really, really proud of that one to be honest,” Humphries told Sky Sports. FOR THE SECOND TIME 🏆🏆 Luke Humphries retains his 2024 Ladbrokes Players Championship Finals title, beating Luke Littler 11-7 in the final. pic.twitter.com/QUhxvSbGeu — PDC Darts (@OfficialPDC) November 24, 2024 “I didn’t feel myself this week playing-wise, I felt like I was a dart behind in a lot of the scenarios but there’s something that Luke does to you. He really drives me, makes me want to be a better player and I enjoy playing him. “He let me in really early in that first session to go 4-1 up, I never looked back and I’m proud that I didn’t take my foot off the gas. These big games are what I live for. “Luke is a special talent and he was right – I said to him I’ve got to get these (titles) early before he wins them all. “I’d love to be up here and hitting 105 averages like Luke is all the time but he’s a different calibre, he’s probably the best player in the world right now but there’s something about me that never gives up. “This is a great way to go into the worlds.” HUMPHRIES GOES BACK-TO-BACK! 🏆 Luke Humphries retains his Players Championship Finals title! Cool Hand puts on an absolute clinic to defeat Luke Littler 11-7 in an epic final! 📺 https://t.co/AmuG0PMn18 #PCF2024 | Final pic.twitter.com/nZDWPUVjWE — PDC Darts (@OfficialPDC) November 24, 2024 Littler, who lost the world championship final to Humphries last year, said: “It was tough, missed a few doubles and if you don’t take chances early on, it’s a lot to come back. “I hit the 170 and the 164 but just didn’t have enough in the end. “It’s been a good past two weeks. I just can’t wait to go home, chill out, obviously practice at home for the worlds. That’s it now, leading up to the big one.”

Bashar al-Assad’s quarter century in power PARIS: AFP looks back at almost a quarter century of rule by Syrian President Bashar al-Assad since he was propelled to power following the death of his father Hafez in 2000. 2000: takes over from father On July 17, 2000, Assad becomes Syria ́s new head of state, after the death of his father, aged 69, who ruled Syria with an iron grip for 30 years. He won a referendum with more than 97 percent of the vote at which he was the only candidate. On June 10, 2000, the day of Hafez ́s death, parliament had amended the constitution to lower the minimum age required to become president -- a tailor-made change for Bashar who was born in 1965. 2000: ‘Damascus Spring’ In September that year, 100 intellectuals call for the lifting of martial law, in place since 1963, more freedom and political pluralism. This becomes known as the “Damascus Spring”. An ensuing period of apparent openness is short-lived. Assad ́s government cracks down on dissent and arrests 10 opponents in July 2001. 2005: withdrawal from Lebanon In February 2005, former Lebanese prime minister Rafik Hariri is assassinated in a massive Beirut bombing. Major Western powers and Lebanese opposition blame Syria, which has a strong military presence in Lebanon, and call for the withdrawal of its troops. Damascus denies responsibility.In April, the last of tens of thousands of Syrian troops leave Lebanon, ending 29 years of military and political domination. 2005: ‘Damascus Declaration’ In October 2005, opposition parties unite to launch a joint “Damascus Declaration” calling for radical and democratic change, and criticising “a totalitarian-style and sectarian regime”. 2011: rebellion leads to war In March 2011, in the turmoil of the Arab Spring that sees people rise up against autocratic rulers, protests break out in Syria calling for civil liberties and the release of political prisoners. In 2012, the regime uses heavy weapons against the rebels, including airstrikes. It will be accused on numerous occasions of using chemical weapons, charges it denies. Assad clings on to power with massive military backing from Russia and Iran and Tehran-backed Lebanese militant group Hezbollah, managing to win back most of the territory his regime lost. A truce is declared in March 2020 after an accord between Russia and Turkey, but the country is dogged by bombardments and sporadic jihadist attacks. The war has killed more than 500,000 people, displaced half the country ́s pre-war population and makes Assad a global pariah. 2021: fourth term On May 26, 2021, Assad is re-elected as expected for a fourth term, with 95.1 percent of the vote. 2023: Return to the Arab diplomatic scene Syria had been expelled in 2011 in response to its crackdown on the popular uprising. 2023: international arrest warrant In November 2023, France issues an international arrest warrant for Assad, suspected of complicity in crimes against humanity for chemical attacks in 2013 in Syria blamed on his regime.Folgueiras has 27 in Robert Morris' 90-77 win against Saint FrancisProtecting and projecting national interest

Navy beats Oklahoma, 21-20, in Armed Forces Bowl on 2-point conversion stopIs Enron back? If it's a joke, some former employees aren't laughing

How to watch San Francisco 49ers vs. Miami Dolphins: TV channel, streaming infoHOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001. If its return is comedic, some former employees who lost everything in Enron’s collapse aren’t laughing. “It’s a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?” said former Enron employee Diana Peters, who represented workers in the company’s bankruptcy proceedings. Here’s what to know about the history of Enron and the purported effort to bring it back. Once the nation’s seventh-largest company, Enron filed for bankruptcy protection on Dec. 2, 2001, after years of accounting tricks could no longer hide billions of dollars in debt or make failing ventures appear profitable. The energy company's collapse put more than 5,000 people out of work and wiped out more than $2 billion in employee pensions. Its aftershocks were felt throughout the energy sector. Twenty-four Enron executives , including former CEO Jeffrey Skilling , were convicted for their roles in the fraud. Enron founder Ken Lay’s convictions were vacated after he died of heart disease following his 2006 trial. On Monday — the 23rd anniversary of the bankruptcy filing — a company representing itself as Enron announced in a news release it was relaunching as a “company dedicated to solving the global energy crisis.” It also posted a video on social media, advertised on at least one Houston billboard and a took out a full-page ad in the Houston Chronicle In the minute-long video full of generic corporate jargon, the company talks about “growth” and “rebirth.” It ends with the words, “We’re back. Can we talk?” In an email, company spokesperson Will Chabot said the new Enron was not doing any interviews yet, but "We’ll have more to share soon.” Signs point to the comeback being a joke. In the “terms of use and conditions of sale” on the company's website, it says “the information on the website about Enron is First Amendment protected parody, represents performance art, and is for entertainment purposes only.” Documents filed with the U.S. Patent and Trademark Office show College Company, an Arkansas-based LLC, owns the Enron trademark. The co-founder of College Company is Connor Gaydos, who helped create a joke conspiracy theory claiming all birds are actually government surveillance drones. Peters said she and some other former employees are upset and think the relaunch was “in poor taste.” “If it’s a joke, it’s rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees,” Peters said. Peters, 74, said she is still working in information technology because “I lost everything in Enron, and so my Social Security doesn’t always take care of things I need done.” “Enron’s downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron’s legacy was the employees in the trenches. Leave Enron buried,” she said. But Sherron Watkins, Enron’s former vice president of corporate development and the main whistleblower who helped uncover the scandal, said she didn’t have a problem with the joke because comedy “usually helps us focus on an uncomfortable historical event that we’d rather ignore.” “I think we use prior scandals to try to teach new generations what can go wrong with big companies,” said Watkins, who still speaks at colleges and conferences about the Enron scandal. This story was corrected to fix the spelling of Ken Lay’s first name, which had been misspelled “Key.” Follow Juan A. Lozano on X at https://x.com/juanlozano70In a letter to the Prime Minister, shadow foreign secretary Dame Priti Patel and shadow justice secretary Robert Jenrick claimed the decision by the International Criminal Court (ICC) had “no proper basis in international law”. They said the UK’s refusal to explicitly say whether or not the Israeli premier would be detained if he arrived in the country “opens the farcical spectre of your Government trying to sanction the arrest” of an ally to Britain. Criticising the ICC warrant, the shadow ministers said: “It is hard to escape the conclusion this is an activist decision, motivated by politics and not the law.” They argued the court was established to pursue cases in instances where countries do not have robust and independent judiciaries, which could not be said of Israel. “The UK Government’s response to the decision has been nonsensical,” they said. “On Friday, the Home Secretary refused to say whether Mr Netanyahu would be detained if he travelled to the UK. “This opens the farcical spectre of your Government trying to sanction the arrest on UK soil of the leader of an ally of the UK, while you continue a diplomatic charm offensive with the Chinese Communist Party leader Xi Jinping. “It falls to you to clarify the Government’s position – now. The Government must make clear that it does not support an arrest warrant being issued which has no proper basis in international law.” Downing Street on Friday indicated that Mr Netanyahu could face arrest if he entered the UK, refusing to comment on “hypotheticals” but saying Britain would always follow its “legal obligations”. The International Criminal Court Act 2001 states that a Secretary of State must, on receipt of a request for arrest from the ICC, “transmit the request and the documents accompanying it to an appropriate judicial officer”. Asked whether the UK would comply with requirements under the Act, Sir Keir’s spokesman said: “Yes, the Government would fulfil its obligations under the Act and indeed its legal obligations.” The ICC has issued a warrant for Mr Netanyahu and his former defence minister Yoav Gallant over alleged war crimes in Gaza. Number 10 previously said the domestic process linked to ICC arrest warrants has never been used to date by the UK because no-one wanted by the international court had visited the country. It added that Israel remained a “key partner across a range of areas”. The Prime Minister’s official spokesman said: “It is important that we have a dialogue with Israel at all levels to reach the ceasefire that we all want to see, to bring an end to the violence, to protect civilians and ensure the release of hostages.” The ICC also issued a warrant for Mohammed Deif, head of Hamas’s armed wing, over the October 7 2023 attacks that triggered Israel’s offensive in Gaza. A domestic court process would be required before Mr Netanyahu faced arrest if he set foot in the UK. The ICC said there are “reasonable grounds to believe” Mr Netanyahu and Mr Gallant were responsible for “the war crime of starvation as a method of warfare, and the crimes against humanity of murder, persecution and other inhumane acts”. The court’s pre-trial chamber also found “reasonable grounds to believe that Mr Netanyahu and Mr Gallant each bear criminal responsibility as civilian superiors for the war crime of intentionally directing an attack against the civilian population”. The impact of the warrants is likely to be limited since Israel and its major ally, the US, are not members of the ICC.

Dec 27 (Reuters) - Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week that was driven by expectations around a traditionally strong period for markets. The Dow Jones Industrial Average (.DJI) , opens new tab fell 0.82%, the S&P 500 (.SPX) , opens new tab was down 1.24% and the Nasdaq Composite (.IXIC) , opens new tab briefly fell more than 2% and was down 1.80%. Ten of the 11 major S&P sectors, including information technology (.SPLRCT) , opens new tab and consumer discretionary (.SPLRCD) , opens new tab fell the most, down about 2% and 1.9%, after powering most of the broader market's gains in 2024. COMMENTS: "I’ve heard anecdotes that pension funds are rebalancing ahead of year-end, selling stocks and buying bonds. Unfortunately, I can’t verify that, but it would explain the sudden sell-off on no news. And of course, if large funds are selling stocks en masse, the megacap tech stocks would bear the brunt because of their heavy weighting in major indices." "If nothing else, today is a reminder that just because a 'Santa Claus' rally is a statistical likelihood, it is far from guaranteed." “We’ve seen an attempt at a buy-the-dips rally smacked back, which seems to confirm that this is some selling or rebalancing underway by a big investor.” JAY WOODS, CHIEF GLOBAL STRATEGIST, FREEDOM CAPITAL MARKETS, NEW YORK "What people are doing is they're raising some cash. They're taking some profits right now as we go into the end of the year and getting ready for an opportunity if it presents itself in the beginning of next year. Tech, which has had a tremendous run, is starting to pull back. I think this is the beginning of a healthy correction that will get focused over the next four to eight weeks as we switch administrations." “Any kind of selling pressure sort of spirals a little bit out of control when you have a thinly traded market. And I think the selling pressure is really just people looking for direction.” “It’s not a lot of institutions. I think a lot of non-professionals are looking seeing the market’s direction and they just go with the flow. There’s concerns that maybe the first part of this year can involve some repositioning and reallocation of funds and those that are trading today and next week are probably just trying to get a little bit ahead of that.” “There’s uncertainty about the direction of interest rates and inflation, and the fact of all this is sort of coming together at one time. What is the Federal Reserve going to do in the first part of next year?” “And then there’s a new administration coming in with new policies and (there are uncertainties as to) what those policies will actually be, which policies will actually be implemented. There's a lot of talk about new and many changes, but what's really going to happen?” “And because of the big run that you've had in 2024, portfolios are not exactly positioned correctly for 2025 and I think a lot of people are expecting a lot of changes in the early part of the year.” “You're seeing some of that today and that will lead to more selling pressure because people just want to capture the gains before they go on into 2025.” PETER TUZ, PRESIDENT, CHASE INVESTMENT COUNSEL, CHARLOTTESVILLE, VIRGINIA “This is end of year stuff going on people have had a pretty good year, and it’s typical year-end selling pressure caused by people taking profits, not a lot of buyers out there and not a lot of volume.“ “(There’s) no reason to jump in and buy these things at these valuations, and tax planning is on peoples’ minds this week and will be on Monday and Tuesday. I don't attribute it to, you know, any changing outlook in anything right now.” “The Santa Claus rally is one of those historic statistics that bears watching, but because of the change in administration and the potential change in policy you're probably seeing more action now than you would ordinarily. There's the potential for a lot of disruption in 2025.” BRYCE DOTY, SENIOR PORTFOLIO MANAGER, SIT FIXED INCOME ADVISORS, MINNEAPOLIS "Today the market has really been reacting to the implications of taxes coming up. Tax positioning is overwhelming the other factors. But the more the Fed looks out of touch (with economic realities), the worse it is for equities...Tax trading will continue for the rest of the year." Sign up here. Compiled by the Global Finance & Markets Breaking News team Our Standards: The Thomson Reuters Trust Principles. , opens new tab

Syrian rebels advance close to Hama city, piling pressure on Assad and his alliesWhen you're looking for a deal online, it can be hard to figure out what retailers are reliable and trustworthy. Although a handful of names are well-known and generally well-respected, new retailers are popping up all the time. Many of those retailers have deals that are hard to pass up. At the same time, shady business practices abound, and it's hard to know who to trust. You might wonder whether Temu is safe to order from , whether Shein is using your app data for more than shopping recommendations, or whether Alibaba is actually a real, reliable retailer, or just a big scam. While things can go wrong when you order from any website — even the industry giants — there might be a reason so many people are suspicious of Alibaba. Plus, some details don't necessarily add up, like Alibaba's "excellent" rating on Trustpilot amid complaints (many of them on Trustpilot, in fact) about fake products, bad sellers, and late or nonexistent refunds. Like Temu, which has a shady side , Alibaba also has some controversies that suggest that not everything is as it seems. Here's everything to know about the shady side of Alibaba, and why you might not want to order from the retailer. [Featured image by Mfn via Wikimedia Commons | Cropped and scaled | CC BY-SA 4.0 ] Sure, Alibaba is a real shopping platform, and yes, things can go wrong sometimes. However, behind the scenes, Alibaba was also accused of monopolistic practices, and it apparently didn't have a viable defense for the charges. Investors in the U.S. filed a lawsuit against Alibaba that alleged the e-commerce company violated some laws relating to unfair competition and monopolies. Part of the lawsuit centered on reportedly misleading statements from Alibaba, which according to the investors was tied to market losses. Eventually, Alibaba agreed to pay $433.5 million following the class-action lawsuit, which the plaintiffs' lawyers stated was "exceptional." It turned out the investors were said to have lost around $10 billion, but they accepted the settlement from Alibaba for far less than that amount. Based on the way Reuters described the case, it sounds as though the investors settled rather than pursue a drawn-out court case, but they also forfeited billions of dollars. What's interesting about this case is that it involved shareholders and not the public. Although monopolizing the industry might help the shareholders make more money, their objection was apparently about a combination of finances and the reputation of Alibaba. Is it safe to purchase from Alibaba? Technically, yes, but the retailer itself has cautionary words for shoppers . In an interesting approach to search engine optimization, Alibaba writes about its own brand in the third person, asking whether it's safe to buy things through the e-commerce company. In answering its own question, Alibaba notes that there are problematic sellers on every platform but that on the whole Alibaba is safe. Alibaba's blog post suggests that consumers check out the history of any seller they plan to buy from. It also states that product quality can vary, so shoppers should be wary of matching product descriptions to images and specifications and request samples before ordering. Further, Alibaba suggests that payment security is not a concern because secure payment methods (like Alibaba's payment platform Alipay) give consumers protection services and avenues for pursuing refunds and disputes. Alibaba also implores shoppers to report counterfeit and other potentially copyrighted products. Of course, consumers may also be wary of sharing their data with the Alibaba app. After all, many apps steal more data than users are aware of, and cybersecurity is an important part of the online shopping experience, no matter where you buy from. Alibaba's prices are generally very low, which is part of the reason it's so successful. At the same time, Alibaba isn't a single vendor. Rather, it's a marketplace, almost like Amazon, where almost any business can begin selling products. That's where one of the problems with Alibaba lies because there doesn't seem to be much (or any) oversight of sellers on the platform. Consumers generally report receiving low-quality products, as evidenced by countless Trustpilot reviews, but the products they complain about run the gamut from toilets to UTVs to smart rings. Plenty of people write reviews in all-caps saying that Alibaba is a scam, and the general theme seems to be that despite an apparent money-back guarantee, Alibaba may refuse to give customers their money back. There might be inherent risk in purchasing from Alibaba the same way there's risk in purchasing from sites like Temu simply because there are too many sellers for the hosting website to sort through. At the same time, it doesn't seem as if Alibaba is focused on weeding out problematic sellers, especially because it asks customers to do that work for them by way of reporting faulty goods or poor policies. In addition to Trustpilot reviews alleging that many products on Alibaba are low quality, there's also the issue of knockoffs and counterfeit goods. Many shoppers have reported receiving counterfeit goods, specifically misrepresented name-brand products. Alibaba was also sued for allowing allegedly fake Squishmallows. Kelly Toys Holdings, which manufactures Squishmallows, sued Alibaba in 2023 over the issue. The lawsuit alleged that around 90 e-commerce companies had listings that advertised inauthentic Squishmallows but that Alibaba did not take action to stop the sales. Alibaba requested to have the case dismissed, but a court determined that it could proceed. It appears the case is still in progress as of 2024, and the court itself stated that the claims were "plausible." The lawsuit was also not the first relating to the sale of Squishmallows, but it's unclear how those were resolved; Kelly Toys Holdings noted that prior requests to remove the products were not honored. While there are some ways you can determine whether you're on a scam website , it's hard to tell which sellers might be scammers. For now, however, it's safe to assume that any Squishmallows for sale on Alibaba are fakes. Along with innumerable complaints about poor-quality products, consumers have also made various claims about Alibaba's refund process. Consumer complaints to the Better Business Bureau had the recurring theme of customers not receiving refunds for faulty or returned products (or failed deliveries). Trustpilot was similar, with many one-star reviews claiming that the consumer had ordered products that never showed up, went to the wrong place, or arrived damaged. In many of these scenarios, the customers claimed they didn't get their money back at all, despite Alibaba's claims of consumer production via its payment processing protocol. Various commenters on Trustpilot also brought up the fact that when they made purchases on the retail giant's website, they paid certain fees. Then, when they returned the item because it was not in good condition or didn't meet their expectations, they didn't get all of their money back. In direct contrast with Alibaba's money-back policy, Trustpilot and BBB consumer comments show a worrying trend where people don't get their money back, even when an item arrives broken. Alibaba's policy even states that you can request a refund even if it doesn't meet the "agreed terms," though it's unclear whether that means the seller's terms or Alibaba's overall terms. Either way, consumer experiences don't tend to reflect that money-back promise. As mentioned, TrustPilot reviews sum up a range of issues with Alibaba, and there are plenty of horror stories about shopping on the platform. Despite Alibaba's (the parent company's) 4.3-star average on Trustpilot, around 11% of the reviews are one-star, while under 1% are two-star, and about 2% are three-star. Alibaba.com also has poor reviews on Trustpilot, rated "bad." The most recent reviews complain of products not arriving (despite assurances from sellers that they were being tracked and in transit), thousands of dollars of product arriving faulty but an incomplete refund being generated, and Alibaba refusing refunds despite clear photo and video evidence of damaged-on-arrival products. Mercari has similar red flags and a similar business model, with countless sellers sharing the same platform. Unfortunately for Alibaba, its sellers contribute to the brand's overall reputation, and things are not looking good. Things are similar on BBB, where Alibaba Group has a 1.15-star rating, with around 40 monthly complaints closed. Customers complained to BBB about generic responses to refund requests from Alibaba, suggesting that the company uses a script or perhaps an AI chatbot to address consumer complaints. Although Alibaba has a history of addressing complaints on the BBB website, many remain open and, apparently, unanswered. Trade Assurance is a consumer protection with Alibaba, and the e-commerce company claims that consumer purchases enjoy protection from payment to delivery. However, the policy doesn't apply to shoppers in every country, nor does it apply to every seller. The trade assurance program apparently doesn't apply to retailers that don't have a "Trade Assurance" badge, although the details don't seem very transparent. There's also the fact that the trade assurance does not seem to apply to all purchases, as the information page on Alibaba's website seems to be targeted toward businesses rather than individuals shopping for cheap clothes and goods online. The trade assurance also claims to offer after-sales protections, yet the reviews on Trustpilot and the BBB do, in part, contradict that statement. On the other hand, the 79% of Trustpilot reviews that gave the company five stars seemed thrilled with their purchases, although the dozen or so that I skimmed through did not mention a specific product in their glowing review of the site and its sellers. Alibaba's website also flagged my multiple visits to its policy pages, requiring me to solve a CAPTCHA-type puzzle before I could keep reading. While that on its own isn't necessarily problematic, it doesn't make the retailer seem any more friendly to prospective or existing shoppers. Beyond customer reviews, online forums like Reddit, and the couple of court cases in which Alibaba is involved, it's hard to find anywhere that it has addressed criticism of its online shopping platform. In fact, Harvard Business Review published a piece by Ming Zeng (former manager and current chairperson) that called Alibaba an "innovative digital giant," praised its business practices, and neglected to mention any of the negative customer feedback that can be found online in a quick Google search. This juxtaposition is one of the things that makes Alibaba seem shady. From addressing consumer skepticism over its legitimacy to having one of its figureheads promote it in HBR (did someone from the corporation have to sign off on that article?), Alibaba seems to want to make a good impression. On the other hand, not addressing complaints on review sites and, apparently, not following its own policies go against that goal. Plus, the HBR piece focuses solely on the company's "innovative" processes and how it handles all its inventory and customer processes on a massive scale. What it doesn't address is the customer experience or any feedback the company has received. Like other "fast" online companies such as Temu, Shein, and more, it seems that Alibaba might be more focused on its bottom line (and perhaps defending itself in court) than it is about ensuring that consumers have a positive experience. In the U.S., it's remarkably common for brands to grow to global fame with their founders as the recognizable face of the company. From Amazon and Facebook to Apple and Microsoft, we know who the bigwigs are and what they do. While the public might not love their local billionaires, they do appreciate their business offerings, and these people are generally accepted if not beloved, public figures. In contrast, Alibaba's co-founder does not have a good relationship with the public or the company's country of origin. Jack Ma, who founded Alibaba, criticized regulators and the Chinese financial system. That led to him losing money — the loss was said to be more than half of his wealth — disappearing from public view, and according to some perspectives, putting Alibaba in jeopardy. If Ma lost $4.1 billion in a single year, as CNN reported he did, how much did Alibaba lose or stand to lose? With the founder of the company being under fire from his government, it doesn't seem like that's a great public relations move for Alibaba, and it makes the company seem even shadier. It's not inherently suspicious for a company to own more than one type of business. Given the claims of monopolistic activities on the part of Alibaba, it may be worth taking a closer look at the conglomerate. Alibaba owns various companies — from cloud computing to healthcare to media entities — thus it's easier to understand why the parent company was sued for supporting a monopoly. It would make sense if Alibaba used its own proprietary technology and products to run its various businesses, interlinking them and, potentially, creating even more wealth. Yet, it's hard to know whether to trust articles in the South China Morning Post about the company, given that Alibaba Group also owns it, and the same applies when it comes to utilizing other subsidiaries of Alibaba's parent company. Of course, if the real question is whether it's safe to order from Alibaba, despite its potentially shady dealings, the answer is it depends — so shop at your own risk.