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Stronger privacy protections will be put in place to protect the identities of Australians online when a world-first teen social media plan is legislated, as the Coalition works to soothe backbench worries about over-regulation of the internet. Peter Dutton is determined to work with Labor this week to secure passage of the bill banning children under 16 from social media sites, but a growing number of backbenchers including former LNP ministers Keith Pitt and Matt Canavan and MP Garth Hamilton have been expressing concerns about handing over identifying documents to tech giants. In parliament on Monday, Communications Minister Michelle Rowland said she welcomed opposition MPs’ assessment of the bill and Labor sources said they were open to good faith amendments from Coalition communications spokesman David Coleman, who first floated the ban in an interview with this masthead in April and who has been working closely with Labor in recent weeks. Labor has played down the prospect of a digital ID but Coalition MPs were told in a joint party room meeting that amendments would be made to the bill to explicitly rule out the use of a digital ID and documents such as passports. Several Coalition MPs in the Canberra party room meeting, speaking anonymously to disclose confidential discussions, confirmed the Coalition had been working on stronger privacy protections with Labor. MPs including leading moderate Bridget Archer, shadow assistant minister Paul Scarr and Canavan expressed concern in the meeting about rushing the bill. This masthead revealed earlier on Monday that a growing number of Coalition MPs were uneasy with Dutton’s intention to go along with Labor’s bill, which many experts, the Greens and teals have described as rushed. MPs were only given three hours to scrutinise the bill in a condensed inquiry on Monday. Experts who appeared at the inquiry were mixed in their views on the extent of social disharmony and mental ill health caused by teens’ use of social media. Leaders of mental health group Headspace said being online affected how teens felt about themselves but the communities they found on digital platforms were also invaluable. Loading Clinical psychologist Danielle Einstein, whose research is in the intersection between technology use and mental health, said the few studies used by social media advocates were flawed, outdated and being used to make disingenuous claims. She added that schools were becoming more hostile places as teens took the easier option of making connections online and shunning real-world interactions. “I don’t think the evidence actually shows benefit [of a social media ban] when you look really carefully,” she said. LNP senator Matt Canavan asked a representative for Meta and other social platforms, DIGI’s Sunita Bose, whether Australians could get around the laws by using a VPN to make it appear they were in another country. Bose said this was “certainly” a risk. “I reckon my 10-year-old could figure it out,” Canavan said. “It’s great we are rushing this.” Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter . Save Log in , register or subscribe to save articles for later. License this article Social media Anthony Albanese Peter Dutton ALP Liberal Party Matthew Canavan Keith Pitt Paul Sakkal is federal political correspondent for The Age and Sydney Morning Herald who previously covered Victorian politics and has won two Walkley awards. Connect via Twitter . Most Viewed in Politics LoadingLil Wayne, GloRilla, Camila Cabello to perform at College Football National Championship
Advertisement Thanks to tax cuts made during the first Trump administration, Americans can give or hand down about $13 million in assets without paying federal estate tax. Only 0.2% of taxpayers have to worry about this tax, and they hire top-notch accountants and lawyers to pay as little as possible. "This is a wealthy person's playground problem," Robert Strauss, partner at the law firm Weinstock Manion, told Business Insider. Advertisement Some of these tax avoidance techniques might be eyebrow-raising, yet they are perfectly legal. For instance, taxpayers can put homes and country homes in trusts that last decades and any appreciation in the property's value doesn't count toward their taxable estate. Life insurance, probably the least sexy area of financial planning, can be used to save tens of millions of dollars in taxes if bought from issuers in the Cayman Islands and Bermuda. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. That exemption is due to expire at the end of 2025, but it looks likely that it will be extended given the Republican Party's total control of Washington. Here are 12 little-known techniques that the richest taxpayers use to pay less to Uncle Sam: Using trusts to give away homes and country houses Qualified personal residence trusts , better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. The homeowner puts the primary residence or vacation home in the trust and retains ownership for however many years they choose. When the trust ends, the property is transferred out of the taxable estate. The estate only has to pay gift tax on the value of the property when the trust was formed even if the home has appreciated by millions in value. Advertisement QPRTs have become more popular in the past year as interest rate hikes confer another tax benefit. It seems too good to be true, but there are a few strings attached. Passing wealth to future generations with trusts that last up to 1,000 years From the Wrigley family behind the titular chewing gum brand to Jeff Bezos' mother, an Amazon investor, some of America's wealthiest use generation-skipping trusts to avoid paying wealth transfer taxes and provide for future heirs. These so-called dynasty trusts allow taxpayers to pass along wealth to generations that haven't even been born yet and only be subject to the 40% generation-skipping tax once. Many states have eased trust limits to get the business of the wealthy, with Florida and Wyoming allowing dynasty trusts to last as long as 1,000 years, which spans about 40 generations. Advertisement The heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. These trusts even protect assets from future creditors and shield them in the event of a divorce. iStock; BI Giving to charity via trusts that also yield income Charitable remainder trusts (CRTs) allow moneyed Americans to have their cake and eat it too. Plenty of affluent taxpayers deduct charitable donations from their taxable income, but the ultra-rich can parlay their philanthropy into guaranteed income for life. Advertisement Taxpayers put assets in the trust, collect annual payments for as long as they live, and get a partial tax break. Only 10% of what remains in the CRT has to go to a designated charity to pass muster with the IRS. These trusts can be funded with a wide range of assets, from yachts to property to closely held businesses, making them particularly useful for entrepreneurs looking to cash out and do good. Related stories Holding life insurance policies via trusts to save on taxes and protect heirs from lawsuits Rich founders with illiquid assets can take out life insurance policies to cover their estate taxes. They get the most bang for their buck if they put the life insurance policy inside a trust rather than owning it directly. The irrevocable life insurance trust (ILIT) collects the death benefit, pays the tax bill, and distributes whatever is left according to the insured individual's wishes. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. Advertisement There are other perks. If the insured wants to make sure that their heirs are protected from creditors or divorcing spouses, they can use ILITs to be doubly safe. While the law varies by state, trusts and life insurance both have strong legal protections. Using charitable trusts that give the remainder to heirs Also known as the Jackie O trust since it was used by the late First Lady, a charitable lead trust or CLT makes annual payments to a charity or multiple. Whatever is left when the trust expires goes to a remainder beneficiary picked by the grantor, typically their children. If the assets within the trusts appreciate faster than an interest rate set by the IRS at the time of funding, the beneficiary can even end up with a bigger inheritance. CLTs can also be used to discreetly transfer wealth while being publicly philanthropic. Advertisement "I've seen lawyers use these to plan for mistresses, to plan for children that perhaps the spouse doesn't know about," lawyer Edward Renn told Business Insider. Getty; BI Taking loans to pay estate taxes Unlike QPRTs and CRTs, this technique is highly scrutinized by the IRS and comes with a lot of hoops to jump through. Families that are asset-rich but cash-poor and facing an estate tax bill can either rush to sell those assets to make the nine-month deadline or take a loan. Advertisement The estate can make an upfront deduction on the interest of these Graegin loans , named after a 1988 Tax Court case. Further, if illiquid assets make up at least 35% of the estate's value, families can defer estate tax for as long as 14 years, paying in installments with interest, and effectively taking a loan from the government. Graegin loans are prime targets for auditors and have led to years-long legal battles, but the savings can be worth it for rich families. Buying offshore life insurance policies Private-placement life insurance , or PPLI, can be used to pass on assets from stocks to yachts to heirs without incurring any estate tax. Advertisement In short, an attorney sets up a trust for a wealthy client. The trust owns the life-insurance policy that's created offshore. The assets in the trust are treated as premiums, and if structured correctly, the benefit and assets in the policy are bequeathed free of estate tax. It's only relevant to the ultra-wealthy, often requiring $5 million in upfront premiums as well as a small army of professionals to set up and administer, including trust and estate attorneys, asset managers, custodians, and tax advisors. Related stories Transferring depressed assets during a market slump The down market has one silver lining for high-net-worth individuals. It is an optimal time to create new trusts as people can transfer depressed assets, whether they are stocks or bitcoin, at a lower tax basis. Advertisement The long-favored grantor-retained annuity trusts (GRATs) can confer big tax savings during recessions. These trusts pay a fixed annuity during the trust term, which is usually two years, and any appreciation of the assets' value is not subject to estate tax. GRATs have picked up in popularity in the past year as the Federal Reserve has raised interest rates, which eat into the returns on these trusts. ivanastar/Getty, akurtz/Getty, DNY59/Getty, Tyler Le/BI Stashing assets in trusts for a spouse The wealthy can save on taxes by putting their riches in trusts before the Trump tax cuts expire, but some don't feel ready to give their fortunes to their kids yet. Advertisement Luckily, there is a compromise. Using a spousal lifetime-access trust , also known as a "SLAT," married taxpayers can stash their fortunes in trusts that pay distributions to their spouses rather than giving assets to their kids. The beneficiary spouse can use this cash flow to fund the couple's lifestyle. After this spouse dies, the trust passes to new beneficiaries, typically the couple's children. Buyer beware: divorce can mean losing those dollars forever. But millions in potential tax savings can be worth the gamble. Using trusts that pay cash to spouses but keep the assets for the kids When the wealthy remarry, they often have to balance the needs of their new spouse and their kids from a prior marriage. Trusts can be used to take care of the spouses, but the adult kids want their piece of the pie. Advertisement There is a way to make everyone happy. With a qualified terminable interest property trust , also known as a "QTIP," married taxpayers can put their fortunes in trusts that pay distributions such as stock dividends to their spouses. The income-producing assets, however, are untouched, and when the beneficiary spouse dies, everything in the trust is transferred to new beneficiaries, who are typically the adult children of the spouse who funds the trust. The main benefit of QTIPs is peace of mind. If the beneficiary spouse remarries, they still get the cash, but they can't gift the assets to their new partner. Getty Images; Jenny Chang-Rodriguez/BI Transferring business assets to family-limited partnerships at big discounts Sam Walton, the founder of Walmart, used a family limited partnership or "FLP" to save his kids and wife from paying any estate taxes on multibillion-dollar family fortune. Advertisement With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. As a general partner, the original individual can name their children as limited partners and give them interest in the partnership. The kids get cash distributions from revenue generated by the trust but do not have control over the actual assets. This control is appealing to parents who want to hold the purse strings. Another sweetener: You can claim a discount on the assets transferred to the FLP and use even less of your estate-tax exemption. Though the IRS scrutinizes these discounts, they can be worth the gamble. The right lawyer can justify a discount of 45% or higher for less liquid assets, such as privately held businesses. Giving stock to parents and inheriting it back when they die Wealthy founders who built their businesses from the ground up face hefty capital gains taxes when they cash out. Instead of selling the shares outright, they can save on taxes by gifting their stock to their parents and waiting to sell the stock until they inherit it after their parents' death. These "upstream transfers" take advantage of a tax loophole for inherited assets that boosts the cost basis to its fair market value at the time of inheritance. Advertisement This tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. They can stash the assets in a trust that benefits their parents until their passing and then their children. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million. Lawyers warn that upstream planning comes with risks. Individuals can lose their assets for good if their parents decide to share the wealth with a new spouse or other children.
RECAP: Asian equities rose yesterday, with technology stocks in the region rebounding from a selloff that had been prompted by concerns over the revenue outlook for Nvidia Corp. Thai shares little changed from a week earlier, as investors fretted about Donald Trump's tariff policies and awaited news of more domestic economic stimulus. The SET Index moved in a range of 1,435.78 and 1,471.48 points this week before closing yesterday at 1,446.30, up 0.3% from the previous week, with daily turnover averaging 42.93 billion baht. Brokers were net buyers of 2.39 billion baht, followed by foreign investors at 1.02 billion baht. Retail investors were net sellers of 2.9 billion baht and institutions 511.16 million. NEWSMAKERS: Gold had its best week in a year, gaining 5% on safe-haven demand amid escalation in the Russia-Ukraine war. Spot gold hit $2,687 an ounce after reports that Russia had launched an intercontinental ballistic missile on Ukraine. Russian President Vladimir Putin has signed a decree approving the use of tactical nuclear weapons following Ukraine's use of US long-range missiles to strike deep into Russian territory. Japanese Prime Minister Shigeru Ishiba has announced a ¥22-trillion ($142 billion) stimulus package covering wage increases, cash handouts to low-income households, semiconductor and AI investment support and energy subsidies. The International Monetary Fund warns that retaliatory tariffs between the US and China would undermine Asia's economic opportunities, hurting export-dependent countries, eroding supply chain efficiency and driving up US inflation. The parent of the Chinese e-commerce platform Temu, PDD Holdings, said sales growth slowed amid intensified competition and consumer caution in its home market. Revenue in the quarter to Sept 30 was 99.4 billion yuan ($13.7 billion), up 44% from a year earlier. Apple Inc has offered to raise its investment in Indonesia tenfold to $100 million within two years in exchange for lifting a ban on sales of the iPhone 16. Nvidia's third-quarter results exceeded market expectations, with total revenue up 94% year-on-year, driven by 112% growth in data centre business. However, concerns about overheating in a new AI chip could delay data centre launches. Thailand is entering a prime period for investment, Prime Minister Paetongtarn Shinawatra told the Forbes Global CEO Conference. She announced five stimulus measures for the short and long term, focusing on real estate, infrastructure, agricultural sector upgrades, tourism promotion and private investment support to address economic restructuring. Household non-performing loans (NPLs) rose 14% year-on-year to 1.2 trillion baht in the third quarter, while there are growing concerns over the bad debt of small businesses, which rose 20%, according to the National Credit Bureau. Thailand's economy grew in the third quarter by 3%, driven by non-agricultural production, services and accelerated government investment, said the National Economic and Social Development Council. But it has revised down its full-year forecast to 2.6% from 2.5% and projects just 2.8% growth in 2025. Risks include Donald Trump's economic policies and high household and business debt levels. The University of the Thai Chamber of Commerce estimates that 60% US tariffs on Chinese goods, if they materialise, would cause economic damage of 160 billion baht to Thailand. Exports would drop 1.5% and GDP growth would be 0.9 percentage points lower than projections. A Board of Investment team has visited Shanghai to attract investment amid Chinese company concerns over US election results. They met with battery and electronics companies to promote Thailand as a production base. In the first nine months, Chinese investment applications in Thailand reached 114 billion baht. Tourism and Sports Minister Sorawong Thienthong has asked the Tourism Authority of Thailand to finalise details of the "We Travel Together" promotion with the Ministry of Finance. It is expected to be ready for the next off-peak (March-June) tourist season. The Thai National Shippers Council says rapid baht depreciation benefits exports and recommends foreign-exchange risk hedging. It sees an appropriate baht value at 34-35 to the US dollar. New appointees to the tripartite national wage committee are awaiting cabinet approval, say Government House sources. The committee is expected to meet in December as the government continues its push to raise the minimum wage to 400 baht a day nationwide, from the current range of 330 to 370 baht. The economic stimulus board has approved in principle a proposal under which banks would suspend interest payments for three years for qualified debtors. The Bank of Thailand reportedly will consider halving banks' Financial Institutions Development Fund contributions to 0.23% to free up funds for them to cover an interest moratorium. The Ministry of Finance expects phase 2 of the 10,000-baht handout to 4 million people aged 60 and above to start in December. Phase 3, covering 14 million people and costing 140 billion baht, is expected to start in April. The Ministry of Finance is ready to convert all the debt it is owed by Thai Airways International to equity, asking the cabinet to allow it to maintain a stake of at least 40%. THAI is expected to exit rehabilitation soon and resume trading on the SET in May 2025. The Association of Investment Management Companies says 16 member firms are ready to offer 42 Thai Environmental, Social and Governance (ThaiESG) funds, with at least five new funds targeting investment of at least 25 billion baht this year. The real estate sector is preparing to benefit from the Trump effect, with condominiums worth 30 billion baht awaiting transfer. The industry is also monitoring Chinese and Taiwanese companies aggressively buying land in Chon Buri and Rayong, building factories outside industrial zones with a boom in warehouses, offices and residences. Thai condominium unit sales to Myanmar nationals in the first nine months of 2024 tripled from a year ago, making them the second-largest group of foreign buyers after those from China. Shares of Delta Electronics (Thailand) plunged almost 20% early Wednesday after the SET imposed market surveillance measures on the bourse's largest stock in terms of market capitalisation, citing unusual trading patterns. COMING UP: On Monday, South Korea announces consumer confidence and Singapore announces October inflation. Tuesday brings US consumer confidence and new home sales, and a Reserve Bank of New Zealand rate decision. On Wednesday, the US will report revised third-quarter GDP and updated personal consumption expenditure. On Thursday Germany and Japan will report inflation, and Japan will update industrial production. Locally, Bangkok Insurance will discuss its 9-month results on Monday, and Thai Airways will hold a briefing on its rehabilitation plan on Wednesday. The SET will discuss its 2025-27 business plan on Thursday. STOCKS TO WATCH: InnovestX Securities recommends stocks expected to benefit from new stimulus, the second phase of the 10,000-baht handout, Easy e-Receipt and other factors. They include Commerce plays CPALL, CPAXT, CRC, HMPRO and TNP. Beneficiaries of a strong dollar and a weak baht are CPF and DELTA, and tourism plays AWC, AOT and MINT. Stocks expected to outperform and report strong Q4 earnings include GULF, OSP, CBG, AMATA, AU and TIDLOR. Finally, look for stocks with high dividend yields and expected to be targets of the Vayupak Fund and tax-deductible funds, notably BBL, ADVANC and HMPRO. Asia Plus Securities sees rising Russia-Ukraine tension pushing up oil prices. The first resistance, at $76 a barrel, is positive for local oil and refinery stocks including IRPC, BCP, PTTEP, PTT and PTTGC. TECHNICAL VIEW: Trinity Securities sees support at 1,420 points and resistance at 1,470. Asia Plus Securities sees support at 1,435 and resistance at 1,467.
China's recent unveiling of its prototype of a 6-ton tiltrotor unmanned aerial vehicle is stirring up debate over its potential use in combat. The drone, the Lanying R6000, is purportedly intended for nonmilitary uses, but concept drawings that displayed Chinese military logos on the wings and body of the aircraft sparked worries that it may be used for military transportation, surveillance, reconnaissance or attacks. Tiltrotor aircraft such as the Lanying R6000 combine the flying speed of airplanes with the takeoff and landing maneuverability of helicopters, providing them with the advantages of both systems. The new drone, displayed at the Zhuhai air show in November, has a cruising speed of 550 kilometers per hour, a range of up to 4,000 kilometers, a maximum take-off weight of 6,100 kilograms and a maximum payload of 2,000 kilograms according to the website of United Aircraft, a Shenzhen-based company. The business was born in 2014 after the Chinese government began efforts to integrate civil companies into defense technology development. In 2023, United Aircraft received funding from state-backed investment firms totaling nearly $276 million. The company website describes the R6000 drone as a "car in the sky," that can seat up to 12 people with additional applications that include "urban air traffic, logistics transportation, emergency rescue" and others. But some observers say printed designs of the drone with military markings suggest that the company is looking toward military applications of the Lanying system. The drone could serve to increase the efficiency of military logistics and transportation in the event of conflict in the Taiwan Strait, with its long range and rapid deployment capabilities, military analysts tell VOA. The drone does not need a runway "making it particularly suitable for special terrains such as mountainous areas and islands," stated the United Aircraft website's product description. Hong Kong-based Asia Times reported in October , "China's UR6000 may perform rapid resupply missions to support airfield seizure operations during a potential invasion of Taiwan." Yao Cheng, a former lieutenant colonel staff officer of the Chinese Navy Command who is now based in Los Angeles, told VOA that the Lanying R6000's advantages lie in its fast speed, unmanned operation and strong emergency response capabilities. These advantages, he confirmed, would be useful if a conflict were to break out over Taiwan. "If there is fighting in the Taiwan Strait, because its speed is 550 [kilometers per hour], it can deliver the materials to the battlefield in about half an hour," Yao said. Taiwan is located 180 kilometers from China. With a range of 4,000 kilometers, the Lanying R6000 could make more than 10 round trips from China to Taiwan before refueling. Yao said the drone's wide range covers the Western Pacific, giving it the ability to reach locations throughout the South China Sea and U.S. military bases in Japan and South Korea. Given the trend of warfare toward unmanned and intelligent warfare, Yao expects the Lanying R6000 to become an important force in military transportation. However, Su Tzu-yun director of the Institute of National Defense Strategy and Resources at the Taipei-based National Defense Security Research Institute, told VOA that the Lanying R6000 has more value in commercial transportation than in the military. The drone has low stealth capabilities given that helicopters and other similar aircraft that make use of tiltrotors tend to be noisy and produce radar signatures, Su said, making the drone an easy target for air defense missiles. The size of the Chinese army's helicopter force, coupled with the limitations of Lanying system's stealth capabilities, makes it unrealistic for the drone to be considered as an ideal option in high-risk military operations, Su said. He added that China possesses close to 1,000 helicopters, including the Z-20, China's version of the American Black Hawk helicopter. This number still trails behind that of the U.S., which has around 5,500 helicopter units. Su said the drone could still play a limited role in the Chinese Navy. With its compact size and high speed, it is suitable for carrier-based tasks, such as rapid anti-submarine patrols or replenishment missions. The Luying R6000 model could also develop into technology that is more appropriate and valuable for military use in the future, Su added. VOA Mandarin and Katherine Michaelson contributed to this report.
Democrat Bob Casey concedes to Republican David McCormick in Pennsylvania Senate contestNEW ORLEANS (AP) — Saints quarterback Derek Carr was willing to risk his health to improve New Orleans’ chances of playing meaningful football in mid-December. Now the Saints, who’ve remained mathematically alive in the playoff race by winning three of four, might have to play without Carr again — and it didn’t go well the last time. Saints interim coach Darren Rizzi declined on Monday to rule out Carr for any of New Orleans' final four games because of his injured non-throwing hand or his concussion . Both injuries occurred when he tried to leap for a first down and crashed hard to the turf during the fourth quarter of New Orleans' 14-11 victory over the reeling New York Giants on Sunday. “We’re not going to rule him out just yet,” Rizzi said. “We have to see in the next day or two what the healing process is like and see if he can function. “The good news it’s not his throwing hand,” Rizzi said. “The bad news is we’re obviously dealing with an injury here that we have to kind of play it by ear.” Rizzi noted that Carr must clear the concussion protocol first. After that, he said, the Saints can see how well Carr can operate with his hand injury. “It's been done before,” Rizzi said when asked about the prospect of an NFL QB playing with an injured non-throwing hand. “It appears at moment that it's non-surgical, which is a big aspect of it. ... That's why we're going to discuss the options.” Last season, Los Angeles Chargers QB Justin Herbert played with a fractured finger on his non-throwing hand . Buffalo Bills QB Josh Allen has played part of this season with an injured non-throwing hand . If Carr can't play, his replacement will be either second-year pro Jake Haener or rookie Spencer Rattler. Rattler started three games earlier this season when Carr had an oblique injury — all losses by New Orleans, which was in the midst of a seven-game skid. “We've just got to surround whomever it is and pick him up and get him rolling with the rest of us,” guard Lucas Patrick said. “It's just another step of adversity in this long season that we’ve had.” New Orleans' interior defensive line is coming off one of its better games. Defensive tackles Bryan Bresee and Khalen Saunders accounted for both New Orleans' sacks in New York. The Saints also held the Giants to 112 yards rushing — a lower opponent rushing total than in seven other games this season. The Saints' 92 yards rushing offensively was their fourth-lowest total all season and the lowest in any of their victories. Running back Kendre Miller's future is looking a bit brighter now. He has played in just three games this season because of hamstring injuries and his lack of readiness was criticized by since-fired coach Dennis Allen earlier this season. Miller also has yet to rush for more than 36 yards in a game. But against the Giants, he earned praise for the speed, strength and elusiveness he was able to show on a couple of clutch runs, including an 8-yard run for his first and only touchdown this season. Patrick said Miller deserved credit on his scoring run for staying upright and continuing to push forward — with the help of some teammates — after he was met at the 5-yard line by a Giants defender. Patrick said if Miller didn't give the extra effort and stay on his feet, his teammates would not have had the chance to help push him across the goal line. “Kendre's definitely a bright, young runner and he's exciting to block for,” Patrick said. Blake Grupe was 0 for 2 on field goal attempts, although both were from beyond 50 yards and one was blocked. Those were Grupe's first two failures from beyond 50 yards this season. In addition to Carr, reserve linebacker D’Marco Jackson left Sunday's game with an ankle injury. 0 — The number of games the Saints have won when Carr does not play. They've gone 5-5 in his starts this season. The Saints are back home Sunday against Washington in what could be ex-New Orleans cornerback Marshon Lattimore's first game with the Commanders. The game also marks the return to Louisiana of quarterback Jayden Daniels, who won the Heisman Troply last year at LSU. AP NFL: https://apnews.com/hub/nfl
Trump's candidate picks include some firsts, but diversity down from BidenNew York City Mayor Eric Adams on Wednesday appointed Jessica Tisch as commissioner of the New York City Police Department, the second woman to lead the department in 179 years. Tisch is a 12-year NYPD veteran and current commissioner of the Department of Sanitation (DSNY), according to a press release. She will assume the role on Monday, Nov. 25, succeeding Interim Commissioner Thomas Donlon. “As one of the most successful managers in our administration, I am confident that Commissioner Tisch will effectively lead the greatest police department in the world and continue to deliver the safety and peace of mind New Yorkers deserve,” Adams said. Tisch’s career in public service spans over a decade with the NYPD, where she spearheaded technological advancements and modernization efforts. During her tenure at DSNY, she led the city’s “Trash Revolution,” containerizing 70% of New Yorkers’ daily 44 million pounds of trash. “For 12 years, I cherished the special privilege of serving alongside the brave women and men of the New York City Police Department,” Tisch said. “It is now my distinct honor to advance Mayor Adams’ vision of fighting crime and disorder, keeping our great city safe and vibrant, and protecting all New Yorkers.” Tisch, who follows Keechant Sewell as the second female NYPD commissioner, emphasized a commitment to safety, counterterrorizm and public trust in policing. She aims to build on technological innovations, improve training and continue fostering confidence in the NYPD’s role in the city. Adams also thanked Interim Commissioner Donlon for his service over the past two months and expressed enthusiasm for his transition to a new role.
GQ Australia has celebrated the 16th GQ Men of the Year Awards in association with Defender. Fifteen awards were presented at a black-tie event at White Bay Power Station ahead of the special GQ Men of the Year collector’s edition being published in The Australian on Friday December 13. The GQ Men of the Year Awards in association with Defender recognise and celebrate extraordinary individuals who have achieved success and continually raise the bar in their chosen field. Supporting partners of the 2024 GQ Men of the Year Awards include Belvedere Vodka, Jean Paul Gaultier fragrance, Michael Hill, and W Sydney. Some of Australia’s biggest stars walked the GQ red carpet in Sydney last night, including GQ Man of the Year Sam Worthington , recipient of the GQ Sporting Icon award Eddie Betts , GQ Designer of the Year Jeremy Hershan , GQ Actor of the Year Felix Mallard , Social Force Sam Elsom , Sportsperson of the Year Emma McKeon , International Musician of the Year Orville Peck and International Actor of the Year Cooper Koch plus the public voted award for Breakthrough Sportsperson of the Year Noemie Fox and International Sensation Gabbriette. GQ Australia Editor-in-Chief Jake Millar said: “The GQ MOTY awards in association with Defender are always a really fun night out, though what I enjoy most is the opportunity it provides to showcase the sheer breadth of talent we have both here and around the world. “Comedic duo Melanie Bracewell and Tim McDonald hosted the awards, as we recognised talent from across the worlds of sport, art, entertainment, fashion, music and more – a collection of outstanding individuals who have defined 2024. “I’m thrilled to have Sam Worthington as this year’s GQ Man of the Year. He is not simply the most successful Aussie actor of all time, thanks to his starring role in the Avatar films, but he is also among our most prolific, appearing in nearly 70 features over the course of his career. This year alone he has released seven films, a remarkable output that demonstrates the range of his talent. “He joins a collection of some of our favourite figures, from American actor Cooper Koch, to swimming superstar Emma McKeon, icon Eddie Betts, musician Nick Ward, designer Jeremy Hershan and actors Felix Mallard and Sam Corlett. They have all not only had a big year, but together they also represent the values at the heart of GQ today. “A big congratulations to all of our winners, and huge thanks to our presenting partner Defender, as well as supporting partners Belvedere Vodka, Jean Paul Gaultier fragrance, Michael Hill, and W Sydney.”OWINGS MILLS, Md. (AP) — In some sports, playing three games in 11 days would be considered a lull in the schedule. Football is different — although this type of stretch is becoming more common in the NFL. “I just kind of put myself in a basketball perspective. Those guys play back to back, so I guess there’s a little merit behind us quote-unquote complaining about it, but they are playing 82 games,” Baltimore Ravens safety Kyle Hamilton said. “MLB players are playing 162 games, and we have 17, and we’re trying to fight them to go to 18 right now. I think it’s good in a sense that we’ll see who is most prepared down the stretch, and it’s really challenging for teams — everybody that’s involved.” The Ravens are one of the five teams that are about to go through a three-game, 11-day stretch. The Ravens, Chiefs, Steelers and Texans are playing Sunday, the following Saturday and then the Wednesday after that on Christmas. Chicago has a game this coming Monday night, then plays the following Sunday before a Thursday game on Dec. 26. Before this season, 21 teams in the Super Bowl era had played three games in 11 days, according to Sportradar. In 2024 there are nine stretches like that on the schedule. In addition to the five teams above, four others have already gone through a three-game, 11-day period. The Jets, Seahawks, Saints and Cowboys all had Monday-Sunday-Thursday runs like the Bears are about to face. The Jets and Cowboys managed to go 2-1 during those stretches, but the Seahawks and Saints went 0-3. “Try to win the first one, rest, try to get your body back how it should be,” Baltimore quarterback Lamar Jackson said. “If it’s not 100 percent, try to get it close as possible — just get ready to play football. That’s all.” For Baltimore, the easiest game of the three is in theory the first. As of Thursday afternoon, the Ravens were favored by 16 points at the New York Giants this weekend, according to BetMGM Sportsbook — but Baltimore has already lost to last-place teams like the Raiders and Browns this season. So the Ravens need to be careful not to overlook the lowly Giants. After the trip to New Jersey, Baltimore returns home to face Pittsburgh in a game that figures to be vital to the Ravens’ AFC North title hopes. Then there’s a road game against AFC South-leading Houston on Christmas. “The big picture is, ‘All hands on deck.’ We’re focused toward playing our best game so far on Sunday,” coach John Harbaugh said. “We’re going to need to do that, and that’s what we’re training and preparing to do. We have a plan for the three-game stretch, and that plan starts with Sunday.” The Ravens played on Christmas last year too, but that was on a Monday, so it wasn’t that big a change in the schedule. If there’s one factor in Baltimore’s favor this season, it’s that the Ravens had their open date last week — immediately before their rugged three-game stretch. But that meant Baltimore was among the last teams to have a week off. And the Ravens started earlier than almost anyone else, having been part of the NFL’s opening game against Kansas City. “We reported to camp earlier than everybody else for that Thursday night game, and I think KC had their bye a little while ago,” Hamilton said. “I guess we had the longest stretch, continuous, of anybody else. It’s just going to be that much better at the end of it all, when we do what we need to do, and we can look back on that and say, ‘We did that, and we came out and won these three games.’” ___ AP NFL:Here’s a Free Way to Tip Your Amazon Delivery Drivers
Manchester City back to winning ways as they cruise past Nottingham Forest

Stronger privacy protections will be put in place to protect the identities of Australians online when a world-first teen social media plan is legislated, as the Coalition works to soothe backbench worries about over-regulation of the internet. Peter Dutton is determined to work with Labor this week to secure passage of the bill banning children under 16 from social media sites, but a growing number of backbenchers including former LNP ministers Keith Pitt and Matt Canavan and MP Garth Hamilton have been expressing concerns about handing over identifying documents to tech giants. In parliament on Monday, Communications Minister Michelle Rowland said she welcomed opposition MPs’ assessment of the bill and Labor sources said they were open to good faith amendments from Coalition communications spokesman David Coleman, who first floated the ban in an interview with this masthead in April and who has been working closely with Labor in recent weeks. Labor has played down the prospect of a digital ID but Coalition MPs were told in a joint party room meeting that amendments would be made to the bill to explicitly rule out the use of a digital ID and documents such as passports. Several Coalition MPs in the Canberra party room meeting, speaking anonymously to disclose confidential discussions, confirmed the Coalition had been working on stronger privacy protections with Labor. MPs including leading moderate Bridget Archer, shadow assistant minister Paul Scarr and Canavan expressed concern in the meeting about rushing the bill. This masthead revealed earlier on Monday that a growing number of Coalition MPs were uneasy with Dutton’s intention to go along with Labor’s bill, which many experts, the Greens and teals have described as rushed. MPs were only given three hours to scrutinise the bill in a condensed inquiry on Monday. Experts who appeared at the inquiry were mixed in their views on the extent of social disharmony and mental ill health caused by teens’ use of social media. Leaders of mental health group Headspace said being online affected how teens felt about themselves but the communities they found on digital platforms were also invaluable. Loading Clinical psychologist Danielle Einstein, whose research is in the intersection between technology use and mental health, said the few studies used by social media advocates were flawed, outdated and being used to make disingenuous claims. She added that schools were becoming more hostile places as teens took the easier option of making connections online and shunning real-world interactions. “I don’t think the evidence actually shows benefit [of a social media ban] when you look really carefully,” she said. LNP senator Matt Canavan asked a representative for Meta and other social platforms, DIGI’s Sunita Bose, whether Australians could get around the laws by using a VPN to make it appear they were in another country. Bose said this was “certainly” a risk. “I reckon my 10-year-old could figure it out,” Canavan said. “It’s great we are rushing this.” Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter . Save Log in , register or subscribe to save articles for later. License this article Social media Anthony Albanese Peter Dutton ALP Liberal Party Matthew Canavan Keith Pitt Paul Sakkal is federal political correspondent for The Age and Sydney Morning Herald who previously covered Victorian politics and has won two Walkley awards. Connect via Twitter . Most Viewed in Politics LoadingLil Wayne, GloRilla, Camila Cabello to perform at College Football National Championship
Advertisement Thanks to tax cuts made during the first Trump administration, Americans can give or hand down about $13 million in assets without paying federal estate tax. Only 0.2% of taxpayers have to worry about this tax, and they hire top-notch accountants and lawyers to pay as little as possible. "This is a wealthy person's playground problem," Robert Strauss, partner at the law firm Weinstock Manion, told Business Insider. Advertisement Some of these tax avoidance techniques might be eyebrow-raising, yet they are perfectly legal. For instance, taxpayers can put homes and country homes in trusts that last decades and any appreciation in the property's value doesn't count toward their taxable estate. Life insurance, probably the least sexy area of financial planning, can be used to save tens of millions of dollars in taxes if bought from issuers in the Cayman Islands and Bermuda. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. That exemption is due to expire at the end of 2025, but it looks likely that it will be extended given the Republican Party's total control of Washington. Here are 12 little-known techniques that the richest taxpayers use to pay less to Uncle Sam: Using trusts to give away homes and country houses Qualified personal residence trusts , better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. The homeowner puts the primary residence or vacation home in the trust and retains ownership for however many years they choose. When the trust ends, the property is transferred out of the taxable estate. The estate only has to pay gift tax on the value of the property when the trust was formed even if the home has appreciated by millions in value. Advertisement QPRTs have become more popular in the past year as interest rate hikes confer another tax benefit. It seems too good to be true, but there are a few strings attached. Passing wealth to future generations with trusts that last up to 1,000 years From the Wrigley family behind the titular chewing gum brand to Jeff Bezos' mother, an Amazon investor, some of America's wealthiest use generation-skipping trusts to avoid paying wealth transfer taxes and provide for future heirs. These so-called dynasty trusts allow taxpayers to pass along wealth to generations that haven't even been born yet and only be subject to the 40% generation-skipping tax once. Many states have eased trust limits to get the business of the wealthy, with Florida and Wyoming allowing dynasty trusts to last as long as 1,000 years, which spans about 40 generations. Advertisement The heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. These trusts even protect assets from future creditors and shield them in the event of a divorce. iStock; BI Giving to charity via trusts that also yield income Charitable remainder trusts (CRTs) allow moneyed Americans to have their cake and eat it too. Plenty of affluent taxpayers deduct charitable donations from their taxable income, but the ultra-rich can parlay their philanthropy into guaranteed income for life. Advertisement Taxpayers put assets in the trust, collect annual payments for as long as they live, and get a partial tax break. Only 10% of what remains in the CRT has to go to a designated charity to pass muster with the IRS. These trusts can be funded with a wide range of assets, from yachts to property to closely held businesses, making them particularly useful for entrepreneurs looking to cash out and do good. Related stories Holding life insurance policies via trusts to save on taxes and protect heirs from lawsuits Rich founders with illiquid assets can take out life insurance policies to cover their estate taxes. They get the most bang for their buck if they put the life insurance policy inside a trust rather than owning it directly. The irrevocable life insurance trust (ILIT) collects the death benefit, pays the tax bill, and distributes whatever is left according to the insured individual's wishes. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. Advertisement There are other perks. If the insured wants to make sure that their heirs are protected from creditors or divorcing spouses, they can use ILITs to be doubly safe. While the law varies by state, trusts and life insurance both have strong legal protections. Using charitable trusts that give the remainder to heirs Also known as the Jackie O trust since it was used by the late First Lady, a charitable lead trust or CLT makes annual payments to a charity or multiple. Whatever is left when the trust expires goes to a remainder beneficiary picked by the grantor, typically their children. If the assets within the trusts appreciate faster than an interest rate set by the IRS at the time of funding, the beneficiary can even end up with a bigger inheritance. CLTs can also be used to discreetly transfer wealth while being publicly philanthropic. Advertisement "I've seen lawyers use these to plan for mistresses, to plan for children that perhaps the spouse doesn't know about," lawyer Edward Renn told Business Insider. Getty; BI Taking loans to pay estate taxes Unlike QPRTs and CRTs, this technique is highly scrutinized by the IRS and comes with a lot of hoops to jump through. Families that are asset-rich but cash-poor and facing an estate tax bill can either rush to sell those assets to make the nine-month deadline or take a loan. Advertisement The estate can make an upfront deduction on the interest of these Graegin loans , named after a 1988 Tax Court case. Further, if illiquid assets make up at least 35% of the estate's value, families can defer estate tax for as long as 14 years, paying in installments with interest, and effectively taking a loan from the government. Graegin loans are prime targets for auditors and have led to years-long legal battles, but the savings can be worth it for rich families. Buying offshore life insurance policies Private-placement life insurance , or PPLI, can be used to pass on assets from stocks to yachts to heirs without incurring any estate tax. Advertisement In short, an attorney sets up a trust for a wealthy client. The trust owns the life-insurance policy that's created offshore. The assets in the trust are treated as premiums, and if structured correctly, the benefit and assets in the policy are bequeathed free of estate tax. It's only relevant to the ultra-wealthy, often requiring $5 million in upfront premiums as well as a small army of professionals to set up and administer, including trust and estate attorneys, asset managers, custodians, and tax advisors. Related stories Transferring depressed assets during a market slump The down market has one silver lining for high-net-worth individuals. It is an optimal time to create new trusts as people can transfer depressed assets, whether they are stocks or bitcoin, at a lower tax basis. Advertisement The long-favored grantor-retained annuity trusts (GRATs) can confer big tax savings during recessions. These trusts pay a fixed annuity during the trust term, which is usually two years, and any appreciation of the assets' value is not subject to estate tax. GRATs have picked up in popularity in the past year as the Federal Reserve has raised interest rates, which eat into the returns on these trusts. ivanastar/Getty, akurtz/Getty, DNY59/Getty, Tyler Le/BI Stashing assets in trusts for a spouse The wealthy can save on taxes by putting their riches in trusts before the Trump tax cuts expire, but some don't feel ready to give their fortunes to their kids yet. Advertisement Luckily, there is a compromise. Using a spousal lifetime-access trust , also known as a "SLAT," married taxpayers can stash their fortunes in trusts that pay distributions to their spouses rather than giving assets to their kids. The beneficiary spouse can use this cash flow to fund the couple's lifestyle. After this spouse dies, the trust passes to new beneficiaries, typically the couple's children. Buyer beware: divorce can mean losing those dollars forever. But millions in potential tax savings can be worth the gamble. Using trusts that pay cash to spouses but keep the assets for the kids When the wealthy remarry, they often have to balance the needs of their new spouse and their kids from a prior marriage. Trusts can be used to take care of the spouses, but the adult kids want their piece of the pie. Advertisement There is a way to make everyone happy. With a qualified terminable interest property trust , also known as a "QTIP," married taxpayers can put their fortunes in trusts that pay distributions such as stock dividends to their spouses. The income-producing assets, however, are untouched, and when the beneficiary spouse dies, everything in the trust is transferred to new beneficiaries, who are typically the adult children of the spouse who funds the trust. The main benefit of QTIPs is peace of mind. If the beneficiary spouse remarries, they still get the cash, but they can't gift the assets to their new partner. Getty Images; Jenny Chang-Rodriguez/BI Transferring business assets to family-limited partnerships at big discounts Sam Walton, the founder of Walmart, used a family limited partnership or "FLP" to save his kids and wife from paying any estate taxes on multibillion-dollar family fortune. Advertisement With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. As a general partner, the original individual can name their children as limited partners and give them interest in the partnership. The kids get cash distributions from revenue generated by the trust but do not have control over the actual assets. This control is appealing to parents who want to hold the purse strings. Another sweetener: You can claim a discount on the assets transferred to the FLP and use even less of your estate-tax exemption. Though the IRS scrutinizes these discounts, they can be worth the gamble. The right lawyer can justify a discount of 45% or higher for less liquid assets, such as privately held businesses. Giving stock to parents and inheriting it back when they die Wealthy founders who built their businesses from the ground up face hefty capital gains taxes when they cash out. Instead of selling the shares outright, they can save on taxes by gifting their stock to their parents and waiting to sell the stock until they inherit it after their parents' death. These "upstream transfers" take advantage of a tax loophole for inherited assets that boosts the cost basis to its fair market value at the time of inheritance. Advertisement This tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. They can stash the assets in a trust that benefits their parents until their passing and then their children. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million. Lawyers warn that upstream planning comes with risks. Individuals can lose their assets for good if their parents decide to share the wealth with a new spouse or other children.
RECAP: Asian equities rose yesterday, with technology stocks in the region rebounding from a selloff that had been prompted by concerns over the revenue outlook for Nvidia Corp. Thai shares little changed from a week earlier, as investors fretted about Donald Trump's tariff policies and awaited news of more domestic economic stimulus. The SET Index moved in a range of 1,435.78 and 1,471.48 points this week before closing yesterday at 1,446.30, up 0.3% from the previous week, with daily turnover averaging 42.93 billion baht. Brokers were net buyers of 2.39 billion baht, followed by foreign investors at 1.02 billion baht. Retail investors were net sellers of 2.9 billion baht and institutions 511.16 million. NEWSMAKERS: Gold had its best week in a year, gaining 5% on safe-haven demand amid escalation in the Russia-Ukraine war. Spot gold hit $2,687 an ounce after reports that Russia had launched an intercontinental ballistic missile on Ukraine. Russian President Vladimir Putin has signed a decree approving the use of tactical nuclear weapons following Ukraine's use of US long-range missiles to strike deep into Russian territory. Japanese Prime Minister Shigeru Ishiba has announced a ¥22-trillion ($142 billion) stimulus package covering wage increases, cash handouts to low-income households, semiconductor and AI investment support and energy subsidies. The International Monetary Fund warns that retaliatory tariffs between the US and China would undermine Asia's economic opportunities, hurting export-dependent countries, eroding supply chain efficiency and driving up US inflation. The parent of the Chinese e-commerce platform Temu, PDD Holdings, said sales growth slowed amid intensified competition and consumer caution in its home market. Revenue in the quarter to Sept 30 was 99.4 billion yuan ($13.7 billion), up 44% from a year earlier. Apple Inc has offered to raise its investment in Indonesia tenfold to $100 million within two years in exchange for lifting a ban on sales of the iPhone 16. Nvidia's third-quarter results exceeded market expectations, with total revenue up 94% year-on-year, driven by 112% growth in data centre business. However, concerns about overheating in a new AI chip could delay data centre launches. Thailand is entering a prime period for investment, Prime Minister Paetongtarn Shinawatra told the Forbes Global CEO Conference. She announced five stimulus measures for the short and long term, focusing on real estate, infrastructure, agricultural sector upgrades, tourism promotion and private investment support to address economic restructuring. Household non-performing loans (NPLs) rose 14% year-on-year to 1.2 trillion baht in the third quarter, while there are growing concerns over the bad debt of small businesses, which rose 20%, according to the National Credit Bureau. Thailand's economy grew in the third quarter by 3%, driven by non-agricultural production, services and accelerated government investment, said the National Economic and Social Development Council. But it has revised down its full-year forecast to 2.6% from 2.5% and projects just 2.8% growth in 2025. Risks include Donald Trump's economic policies and high household and business debt levels. The University of the Thai Chamber of Commerce estimates that 60% US tariffs on Chinese goods, if they materialise, would cause economic damage of 160 billion baht to Thailand. Exports would drop 1.5% and GDP growth would be 0.9 percentage points lower than projections. A Board of Investment team has visited Shanghai to attract investment amid Chinese company concerns over US election results. They met with battery and electronics companies to promote Thailand as a production base. In the first nine months, Chinese investment applications in Thailand reached 114 billion baht. Tourism and Sports Minister Sorawong Thienthong has asked the Tourism Authority of Thailand to finalise details of the "We Travel Together" promotion with the Ministry of Finance. It is expected to be ready for the next off-peak (March-June) tourist season. The Thai National Shippers Council says rapid baht depreciation benefits exports and recommends foreign-exchange risk hedging. It sees an appropriate baht value at 34-35 to the US dollar. New appointees to the tripartite national wage committee are awaiting cabinet approval, say Government House sources. The committee is expected to meet in December as the government continues its push to raise the minimum wage to 400 baht a day nationwide, from the current range of 330 to 370 baht. The economic stimulus board has approved in principle a proposal under which banks would suspend interest payments for three years for qualified debtors. The Bank of Thailand reportedly will consider halving banks' Financial Institutions Development Fund contributions to 0.23% to free up funds for them to cover an interest moratorium. The Ministry of Finance expects phase 2 of the 10,000-baht handout to 4 million people aged 60 and above to start in December. Phase 3, covering 14 million people and costing 140 billion baht, is expected to start in April. The Ministry of Finance is ready to convert all the debt it is owed by Thai Airways International to equity, asking the cabinet to allow it to maintain a stake of at least 40%. THAI is expected to exit rehabilitation soon and resume trading on the SET in May 2025. The Association of Investment Management Companies says 16 member firms are ready to offer 42 Thai Environmental, Social and Governance (ThaiESG) funds, with at least five new funds targeting investment of at least 25 billion baht this year. The real estate sector is preparing to benefit from the Trump effect, with condominiums worth 30 billion baht awaiting transfer. The industry is also monitoring Chinese and Taiwanese companies aggressively buying land in Chon Buri and Rayong, building factories outside industrial zones with a boom in warehouses, offices and residences. Thai condominium unit sales to Myanmar nationals in the first nine months of 2024 tripled from a year ago, making them the second-largest group of foreign buyers after those from China. Shares of Delta Electronics (Thailand) plunged almost 20% early Wednesday after the SET imposed market surveillance measures on the bourse's largest stock in terms of market capitalisation, citing unusual trading patterns. COMING UP: On Monday, South Korea announces consumer confidence and Singapore announces October inflation. Tuesday brings US consumer confidence and new home sales, and a Reserve Bank of New Zealand rate decision. On Wednesday, the US will report revised third-quarter GDP and updated personal consumption expenditure. On Thursday Germany and Japan will report inflation, and Japan will update industrial production. Locally, Bangkok Insurance will discuss its 9-month results on Monday, and Thai Airways will hold a briefing on its rehabilitation plan on Wednesday. The SET will discuss its 2025-27 business plan on Thursday. STOCKS TO WATCH: InnovestX Securities recommends stocks expected to benefit from new stimulus, the second phase of the 10,000-baht handout, Easy e-Receipt and other factors. They include Commerce plays CPALL, CPAXT, CRC, HMPRO and TNP. Beneficiaries of a strong dollar and a weak baht are CPF and DELTA, and tourism plays AWC, AOT and MINT. Stocks expected to outperform and report strong Q4 earnings include GULF, OSP, CBG, AMATA, AU and TIDLOR. Finally, look for stocks with high dividend yields and expected to be targets of the Vayupak Fund and tax-deductible funds, notably BBL, ADVANC and HMPRO. Asia Plus Securities sees rising Russia-Ukraine tension pushing up oil prices. The first resistance, at $76 a barrel, is positive for local oil and refinery stocks including IRPC, BCP, PTTEP, PTT and PTTGC. TECHNICAL VIEW: Trinity Securities sees support at 1,420 points and resistance at 1,470. Asia Plus Securities sees support at 1,435 and resistance at 1,467.
China's recent unveiling of its prototype of a 6-ton tiltrotor unmanned aerial vehicle is stirring up debate over its potential use in combat. The drone, the Lanying R6000, is purportedly intended for nonmilitary uses, but concept drawings that displayed Chinese military logos on the wings and body of the aircraft sparked worries that it may be used for military transportation, surveillance, reconnaissance or attacks. Tiltrotor aircraft such as the Lanying R6000 combine the flying speed of airplanes with the takeoff and landing maneuverability of helicopters, providing them with the advantages of both systems. The new drone, displayed at the Zhuhai air show in November, has a cruising speed of 550 kilometers per hour, a range of up to 4,000 kilometers, a maximum take-off weight of 6,100 kilograms and a maximum payload of 2,000 kilograms according to the website of United Aircraft, a Shenzhen-based company. The business was born in 2014 after the Chinese government began efforts to integrate civil companies into defense technology development. In 2023, United Aircraft received funding from state-backed investment firms totaling nearly $276 million. The company website describes the R6000 drone as a "car in the sky," that can seat up to 12 people with additional applications that include "urban air traffic, logistics transportation, emergency rescue" and others. But some observers say printed designs of the drone with military markings suggest that the company is looking toward military applications of the Lanying system. The drone could serve to increase the efficiency of military logistics and transportation in the event of conflict in the Taiwan Strait, with its long range and rapid deployment capabilities, military analysts tell VOA. The drone does not need a runway "making it particularly suitable for special terrains such as mountainous areas and islands," stated the United Aircraft website's product description. Hong Kong-based Asia Times reported in October , "China's UR6000 may perform rapid resupply missions to support airfield seizure operations during a potential invasion of Taiwan." Yao Cheng, a former lieutenant colonel staff officer of the Chinese Navy Command who is now based in Los Angeles, told VOA that the Lanying R6000's advantages lie in its fast speed, unmanned operation and strong emergency response capabilities. These advantages, he confirmed, would be useful if a conflict were to break out over Taiwan. "If there is fighting in the Taiwan Strait, because its speed is 550 [kilometers per hour], it can deliver the materials to the battlefield in about half an hour," Yao said. Taiwan is located 180 kilometers from China. With a range of 4,000 kilometers, the Lanying R6000 could make more than 10 round trips from China to Taiwan before refueling. Yao said the drone's wide range covers the Western Pacific, giving it the ability to reach locations throughout the South China Sea and U.S. military bases in Japan and South Korea. Given the trend of warfare toward unmanned and intelligent warfare, Yao expects the Lanying R6000 to become an important force in military transportation. However, Su Tzu-yun director of the Institute of National Defense Strategy and Resources at the Taipei-based National Defense Security Research Institute, told VOA that the Lanying R6000 has more value in commercial transportation than in the military. The drone has low stealth capabilities given that helicopters and other similar aircraft that make use of tiltrotors tend to be noisy and produce radar signatures, Su said, making the drone an easy target for air defense missiles. The size of the Chinese army's helicopter force, coupled with the limitations of Lanying system's stealth capabilities, makes it unrealistic for the drone to be considered as an ideal option in high-risk military operations, Su said. He added that China possesses close to 1,000 helicopters, including the Z-20, China's version of the American Black Hawk helicopter. This number still trails behind that of the U.S., which has around 5,500 helicopter units. Su said the drone could still play a limited role in the Chinese Navy. With its compact size and high speed, it is suitable for carrier-based tasks, such as rapid anti-submarine patrols or replenishment missions. The Luying R6000 model could also develop into technology that is more appropriate and valuable for military use in the future, Su added. VOA Mandarin and Katherine Michaelson contributed to this report.
Democrat Bob Casey concedes to Republican David McCormick in Pennsylvania Senate contestNEW ORLEANS (AP) — Saints quarterback Derek Carr was willing to risk his health to improve New Orleans’ chances of playing meaningful football in mid-December. Now the Saints, who’ve remained mathematically alive in the playoff race by winning three of four, might have to play without Carr again — and it didn’t go well the last time. Saints interim coach Darren Rizzi declined on Monday to rule out Carr for any of New Orleans' final four games because of his injured non-throwing hand or his concussion . Both injuries occurred when he tried to leap for a first down and crashed hard to the turf during the fourth quarter of New Orleans' 14-11 victory over the reeling New York Giants on Sunday. “We’re not going to rule him out just yet,” Rizzi said. “We have to see in the next day or two what the healing process is like and see if he can function. “The good news it’s not his throwing hand,” Rizzi said. “The bad news is we’re obviously dealing with an injury here that we have to kind of play it by ear.” Rizzi noted that Carr must clear the concussion protocol first. After that, he said, the Saints can see how well Carr can operate with his hand injury. “It's been done before,” Rizzi said when asked about the prospect of an NFL QB playing with an injured non-throwing hand. “It appears at moment that it's non-surgical, which is a big aspect of it. ... That's why we're going to discuss the options.” Last season, Los Angeles Chargers QB Justin Herbert played with a fractured finger on his non-throwing hand . Buffalo Bills QB Josh Allen has played part of this season with an injured non-throwing hand . If Carr can't play, his replacement will be either second-year pro Jake Haener or rookie Spencer Rattler. Rattler started three games earlier this season when Carr had an oblique injury — all losses by New Orleans, which was in the midst of a seven-game skid. “We've just got to surround whomever it is and pick him up and get him rolling with the rest of us,” guard Lucas Patrick said. “It's just another step of adversity in this long season that we’ve had.” New Orleans' interior defensive line is coming off one of its better games. Defensive tackles Bryan Bresee and Khalen Saunders accounted for both New Orleans' sacks in New York. The Saints also held the Giants to 112 yards rushing — a lower opponent rushing total than in seven other games this season. The Saints' 92 yards rushing offensively was their fourth-lowest total all season and the lowest in any of their victories. Running back Kendre Miller's future is looking a bit brighter now. He has played in just three games this season because of hamstring injuries and his lack of readiness was criticized by since-fired coach Dennis Allen earlier this season. Miller also has yet to rush for more than 36 yards in a game. But against the Giants, he earned praise for the speed, strength and elusiveness he was able to show on a couple of clutch runs, including an 8-yard run for his first and only touchdown this season. Patrick said Miller deserved credit on his scoring run for staying upright and continuing to push forward — with the help of some teammates — after he was met at the 5-yard line by a Giants defender. Patrick said if Miller didn't give the extra effort and stay on his feet, his teammates would not have had the chance to help push him across the goal line. “Kendre's definitely a bright, young runner and he's exciting to block for,” Patrick said. Blake Grupe was 0 for 2 on field goal attempts, although both were from beyond 50 yards and one was blocked. Those were Grupe's first two failures from beyond 50 yards this season. In addition to Carr, reserve linebacker D’Marco Jackson left Sunday's game with an ankle injury. 0 — The number of games the Saints have won when Carr does not play. They've gone 5-5 in his starts this season. The Saints are back home Sunday against Washington in what could be ex-New Orleans cornerback Marshon Lattimore's first game with the Commanders. The game also marks the return to Louisiana of quarterback Jayden Daniels, who won the Heisman Troply last year at LSU. AP NFL: https://apnews.com/hub/nfl
Trump's candidate picks include some firsts, but diversity down from BidenNew York City Mayor Eric Adams on Wednesday appointed Jessica Tisch as commissioner of the New York City Police Department, the second woman to lead the department in 179 years. Tisch is a 12-year NYPD veteran and current commissioner of the Department of Sanitation (DSNY), according to a press release. She will assume the role on Monday, Nov. 25, succeeding Interim Commissioner Thomas Donlon. “As one of the most successful managers in our administration, I am confident that Commissioner Tisch will effectively lead the greatest police department in the world and continue to deliver the safety and peace of mind New Yorkers deserve,” Adams said. Tisch’s career in public service spans over a decade with the NYPD, where she spearheaded technological advancements and modernization efforts. During her tenure at DSNY, she led the city’s “Trash Revolution,” containerizing 70% of New Yorkers’ daily 44 million pounds of trash. “For 12 years, I cherished the special privilege of serving alongside the brave women and men of the New York City Police Department,” Tisch said. “It is now my distinct honor to advance Mayor Adams’ vision of fighting crime and disorder, keeping our great city safe and vibrant, and protecting all New Yorkers.” Tisch, who follows Keechant Sewell as the second female NYPD commissioner, emphasized a commitment to safety, counterterrorizm and public trust in policing. She aims to build on technological innovations, improve training and continue fostering confidence in the NYPD’s role in the city. Adams also thanked Interim Commissioner Donlon for his service over the past two months and expressed enthusiasm for his transition to a new role.
GQ Australia has celebrated the 16th GQ Men of the Year Awards in association with Defender. Fifteen awards were presented at a black-tie event at White Bay Power Station ahead of the special GQ Men of the Year collector’s edition being published in The Australian on Friday December 13. The GQ Men of the Year Awards in association with Defender recognise and celebrate extraordinary individuals who have achieved success and continually raise the bar in their chosen field. Supporting partners of the 2024 GQ Men of the Year Awards include Belvedere Vodka, Jean Paul Gaultier fragrance, Michael Hill, and W Sydney. Some of Australia’s biggest stars walked the GQ red carpet in Sydney last night, including GQ Man of the Year Sam Worthington , recipient of the GQ Sporting Icon award Eddie Betts , GQ Designer of the Year Jeremy Hershan , GQ Actor of the Year Felix Mallard , Social Force Sam Elsom , Sportsperson of the Year Emma McKeon , International Musician of the Year Orville Peck and International Actor of the Year Cooper Koch plus the public voted award for Breakthrough Sportsperson of the Year Noemie Fox and International Sensation Gabbriette. GQ Australia Editor-in-Chief Jake Millar said: “The GQ MOTY awards in association with Defender are always a really fun night out, though what I enjoy most is the opportunity it provides to showcase the sheer breadth of talent we have both here and around the world. “Comedic duo Melanie Bracewell and Tim McDonald hosted the awards, as we recognised talent from across the worlds of sport, art, entertainment, fashion, music and more – a collection of outstanding individuals who have defined 2024. “I’m thrilled to have Sam Worthington as this year’s GQ Man of the Year. He is not simply the most successful Aussie actor of all time, thanks to his starring role in the Avatar films, but he is also among our most prolific, appearing in nearly 70 features over the course of his career. This year alone he has released seven films, a remarkable output that demonstrates the range of his talent. “He joins a collection of some of our favourite figures, from American actor Cooper Koch, to swimming superstar Emma McKeon, icon Eddie Betts, musician Nick Ward, designer Jeremy Hershan and actors Felix Mallard and Sam Corlett. They have all not only had a big year, but together they also represent the values at the heart of GQ today. “A big congratulations to all of our winners, and huge thanks to our presenting partner Defender, as well as supporting partners Belvedere Vodka, Jean Paul Gaultier fragrance, Michael Hill, and W Sydney.”OWINGS MILLS, Md. (AP) — In some sports, playing three games in 11 days would be considered a lull in the schedule. Football is different — although this type of stretch is becoming more common in the NFL. “I just kind of put myself in a basketball perspective. Those guys play back to back, so I guess there’s a little merit behind us quote-unquote complaining about it, but they are playing 82 games,” Baltimore Ravens safety Kyle Hamilton said. “MLB players are playing 162 games, and we have 17, and we’re trying to fight them to go to 18 right now. I think it’s good in a sense that we’ll see who is most prepared down the stretch, and it’s really challenging for teams — everybody that’s involved.” The Ravens are one of the five teams that are about to go through a three-game, 11-day stretch. The Ravens, Chiefs, Steelers and Texans are playing Sunday, the following Saturday and then the Wednesday after that on Christmas. Chicago has a game this coming Monday night, then plays the following Sunday before a Thursday game on Dec. 26. Before this season, 21 teams in the Super Bowl era had played three games in 11 days, according to Sportradar. In 2024 there are nine stretches like that on the schedule. In addition to the five teams above, four others have already gone through a three-game, 11-day period. The Jets, Seahawks, Saints and Cowboys all had Monday-Sunday-Thursday runs like the Bears are about to face. The Jets and Cowboys managed to go 2-1 during those stretches, but the Seahawks and Saints went 0-3. “Try to win the first one, rest, try to get your body back how it should be,” Baltimore quarterback Lamar Jackson said. “If it’s not 100 percent, try to get it close as possible — just get ready to play football. That’s all.” For Baltimore, the easiest game of the three is in theory the first. As of Thursday afternoon, the Ravens were favored by 16 points at the New York Giants this weekend, according to BetMGM Sportsbook — but Baltimore has already lost to last-place teams like the Raiders and Browns this season. So the Ravens need to be careful not to overlook the lowly Giants. After the trip to New Jersey, Baltimore returns home to face Pittsburgh in a game that figures to be vital to the Ravens’ AFC North title hopes. Then there’s a road game against AFC South-leading Houston on Christmas. “The big picture is, ‘All hands on deck.’ We’re focused toward playing our best game so far on Sunday,” coach John Harbaugh said. “We’re going to need to do that, and that’s what we’re training and preparing to do. We have a plan for the three-game stretch, and that plan starts with Sunday.” The Ravens played on Christmas last year too, but that was on a Monday, so it wasn’t that big a change in the schedule. If there’s one factor in Baltimore’s favor this season, it’s that the Ravens had their open date last week — immediately before their rugged three-game stretch. But that meant Baltimore was among the last teams to have a week off. And the Ravens started earlier than almost anyone else, having been part of the NFL’s opening game against Kansas City. “We reported to camp earlier than everybody else for that Thursday night game, and I think KC had their bye a little while ago,” Hamilton said. “I guess we had the longest stretch, continuous, of anybody else. It’s just going to be that much better at the end of it all, when we do what we need to do, and we can look back on that and say, ‘We did that, and we came out and won these three games.’” ___ AP NFL:Here’s a Free Way to Tip Your Amazon Delivery Drivers
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