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( MENAFN - IANS) Amritsar, Dec 30 (IANS) Samyukt Kisan Morcha chief Sarwan Singh Pandher on Monday urged the Punjab government not to "misuse" its power against the farmers and instead support them in their fight pushing their demands. Farmers in Punjab staged a statewide shutdown, 'Punjab Bandh,' on Monday, significantly impacting road and rail traffic between 7:00 a.m. and 4:00 p.m. The bandh, organised by Samyukt Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha, is part of ongoing protests at Shambhu and Khanauri border points since February 13. The farmers were stopped by security forces during their march to Delhi, prompting a push for their longstanding demands, including a legal guarantee for Minimum Support Price (MSP) for crops. Speaking with IANS, Sarwan Singh Pandher emphasised the strong support for the bandh, stating, "Three crore Punjabis have joined this protest, and around 95-97 per cent of the traffic across Punjab is halted. At Golden Gate, langar was organised from 5:00 a.m. to support the cause. Reports indicate roadblocks at multiple locations in Amritsar." Highlighting their demands, Pandher said, "The MSP guarantee is essential for the country's economy and the health of its farmers. Our demands also include loan waivers, 200 days of work under NREGA, daily wages of Rs 700 for labourers, and implementation of the Fifth Schedule of the Constitution." "This is not just about farmers; it's about shopkeepers facing losses due to online businesses, privatisation of education and healthcare, and other issues," he added. Pandher criticised the Punjab government, urging it to support the farmers instead of misusing police forces, referencing past incidents like the Behbal Kalan firing. "The Punjab government should not misuse the police. Punjab government should stand with the farmers," he said. "Unless farmers and labourers nationwide unite, the government will not fulfil our demands. Punjabis are united today, putting immense pressure on the Modi government," he added. Prominent farmer leader Jagjit Singh Dallewal, 67, has been on a fast-unto-death at the Khanauri border since November 26 to push for the fulfilment of these demands. The bandh has caused significant disruptions to transportation and public services. The bus services across Punjab have been suspended. The Punjab Road Transport Corporation (PRTC) halted operations between 10 a.m. and 2 p.m., with private bus operators suspending services statewide from 7:00 a.m. to 4:00 p.m. in support of the bandh. Government and private institutions across the state remained closed during the bandh hours while emergency services continued to operate. Several groups, including traders, transporters, employee unions, toll plaza workers, ex-servicemen, sarpanches, teachers' unions, and social organisations, extended their support to the farmers' cause. Protest organisers clarified that emergency situations, such as medical emergencies, weddings, or funerals, would not be hindered. Provisions were also made for individuals travelling to airports for jobs or services. MENAFN29122024000231011071ID1109040155 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.How world leaders are reacting to Jimmy Carter's death

Matt Duchene and Jamie Benn lead the Stars past the Blackhawks 5-1ATLANTA (AP) — Jimmy Carter, the peanut farmer who tried to restore virtue to the White House after the Watergate scandal and Vietnam War, then rebounded from a landslide defeat to become a global advocate of human rights and democracy, has died. He was 100 years old . The Carter Center said the 39th president died Sunday afternoon, roughly 22 months after entering hospice care , at his home in Plains, Georgia, where he and his wife, Rosalynn, who died in November 2023, lived most of their lives. The center said he died peacefully, surrounded by his family. President Joe Biden mourned Carter’s death, saying the world lost an “extraordinary leader, statesman and humanitarian” and he also lost a dear friend. Biden cited Carter’s work to eradicate disease, forge peace, advance civil and human rights, promote free and fair elections and house the homeless as an example for others. Biden spoke later Sunday evening about Carter, calling it a “sad day” but one that “brings back an incredible amount of good memories." “I’ve been hanging out with Jimmy Carter for over 50 years,” Biden said in his remarks. He recalled the former president being a comfort to him and his wife Jill when their son Beau died in 2015 of cancer. The president remarked how cancer was a common bond between their families, with Carter himself having cancer later in his life. “Jimmy knew the ravages of the disease too well,” said Biden. The president has ordered a state funeral for Carter in Washington. A moderate Democrat, Carter ran for president in 1976 as a little-known Georgia governor with a broad grin, effusive Baptist faith and technocratic plans for efficient government. His promise to never deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter said. Carter’s victory over Republican Gerald Ford, whose fortunes fell after pardoning Nixon, came amid Cold War pressures, turbulent oil markets and social upheaval over race, women’s rights and America’s role in the world. His achievements included brokering Mideast peace by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at Camp David for 13 days in 1978. But his coalition splintered under double-digit inflation and the 444-day hostage crisis in Iran. His negotiations ultimately brought all the hostages home alive, but in a final insult, Iran didn’t release them until the inauguration of Ronald Reagan, who had trounced him in the 1980 election. Humbled and back home in Georgia, Carter said his faith demanded he keep doing whatever he could, for as long as he could, to try to make a difference. He and Rosalynn co-founded The Carter Center in 1982 and spent the next 40 years traveling the world as peacemakers, human rights advocates and champions of democracy and public health. Awarded the Nobel Peace Prize in 2002, Carter helped ease nuclear tensions in North and South Korea, avert a U.S. invasion of Haiti and negotiate cease-fires in Bosnia and Sudan. By 2022, the center had monitored at least 113 elections around the world. Carter was determined to eradicate guinea worm infections as one of many health initiatives. Swinging hammers into their 90s, the Carters built homes with Habitat for Humanity. The common observation that he was better as an ex-president rankled Carter. His allies were pleased he lived long enough to see biographers and historians revisit his presidency and declare it more impactful than many understood at the time. Propelled in 1976 by voters in Iowa and then across the South, Carter ran a no-frills campaign. Americans were captivated by the earnest engineer, and while an election-year Playboy interview drew snickers when he said he “had looked on many women with lust. I’ve committed adultery in my heart many times,” voters weary of political cynicism found it endearing. The first family set an informal tone in the White House, carrying their own luggage, trying to silence the Marine Band’s traditional “Hail to the Chief" and enrolling daughter Amy in public schools. Carter was lampooned for wearing a cardigan and urging Americans to turn down their thermostats. But Carter set the stage for an economic revival and sharply reduced America's dependence on foreign oil by deregulating the energy industry along with airlines, trains and trucking. He established the departments of Energy and Education, appointed record numbers of women and nonwhites to federal posts, preserved millions of acres of Alaskan wilderness and pardoned most Vietnam draft evaders. Emphasizing human rights , he ended most support for military dictators and took on bribery by multinational corporations by signing the Foreign Corrupt Practices Act. He persuaded the Senate to ratify the Panama Canal treaties and normalized relations with China, an outgrowth of Nixon’s outreach to Beijing. But crippling turns in foreign affairs took their toll. When OPEC hiked crude prices, making drivers line up for gasoline as inflation spiked to 11%, Carter tried to encourage Americans to overcome “a crisis of confidence.” Many voters lost confidence in Carter instead after the infamous address that media dubbed his “malaise" speech, even though he never used that word. After Carter reluctantly agreed to admit the exiled Shah of Iran to the U.S. for medical treatment, the American Embassy in Tehran was overrun in 1979. Negotiations to quickly free the hostages broke down, and then eight Americans died when a top-secret military rescue attempt failed. Carter also had to reverse course on the SALT II nuclear arms treaty after the Soviets invaded Afghanistan in 1979. Though historians would later credit Carter's diplomatic efforts for hastening the end of the Cold war, Republicans labeled his soft power weak. Reagan’s “make America great again” appeals resonated, and he beat Carter in all but six states. Born Oct. 1, 1924, James Earl Carter Jr. married fellow Plains native Rosalynn Smith in 1946, the year he graduated from the Naval Academy. He brought his young family back to Plains after his father died, abandoning his Navy career, and they soon turned their ambitions to politics . Carter reached the state Senate in 1962. After rural white and Black voters elected him governor in 1970, he drew national attention by declaring that “the time for racial discrimination is over.” Carter published more than 30 books and remained influential as his center turned its democracy advocacy onto U.S. politics, monitoring an audit of Georgia’s 2020 presidential election results. After a 2015 cancer diagnosis, Carter said he felt “perfectly at ease with whatever comes.” “I’ve had a wonderful life,” he said. “I’ve had thousands of friends, I’ve had an exciting, adventurous and gratifying existence.” Sanz is a former Associated Press reporter.

Educational gains are slow but steady locally, says the San Diego Unified School District . The state released its updated 2024 California Schools Dashboard Thursday, enabling the public to check color-coded gauges and other visual cues to augment its annual data about districts and schools and how they perform. The online database was originally launched during the 2016-2017 school year by the California Department of Education . San Diego’s largest district — and the second largest school district in California after Los Angeles Unified — shows upward trends from its 2023 results, such as a slowing rate of chronic absenteeism, more students prepared for careers and higher education, and a steady rate of suspensions. On the other hand, there has been a slight decrease in graduation rates, which the state says is due to tightening the use of graduation waivers since their requirements were first loosened in 2020-2021, at the height of the COVID-19 pandemic. However, not all school districts have tightened their requirements for using gradation waivers. “We are committed to ensuring all of our students have the tools they need to sucessfully enter the workforce and secure a degree,” said Fabi Bagula, interim superintendent for the San Diego Unified School District, in a statement. We have launched our year-end campaign. Our goal: Raise $50,000 by Dec. 31. Help us get there. Times of San Diego is devoted to producing timely, comprehensive news about San Diego County. Your donation helps keep our work free-to-read, funds reporters who cover local issues and allows us to write stories that hold public officials accountable. Join the growing list of donors investing in our community's long-term future. “We hold ourselves as educators to high standards. Some of the indicators are very encouraging, others show we need to keep improving. We are not satisfied with maintaining the status quo or decline in any performance area.” The dashboard’s design has also not changed much, which may disappoint some. In September, the Center for Reinventing Public Education — based at Arizona State University — issued a state-by-state report on school system transparency in test scores in math, social studies, reading and science, as well as absenteeism, graduation rates and English learner progress. California’s dashboard received a “D.” “I have a Ph.D. in education policy and I can barely navigate these sites,” Morgan Polikoff, a USC professor who worked on the report, told CalMatters at the time. “How do we expect a typical parent to access this information and make sense of it?” To learn more about the 2024 California Schools Dashboard, click here . Get Our Free Daily Email Newsletter Get the latest local and California news from Times of San Diego delivered to your inbox at 8 a.m. daily. Sign up for our free email newsletter and be fully informed of the most important developments.Rico Carty, who won the 1970 NL batting title with the Atlanta Braves, dies at 85

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CNN panelist's embarrassing takedown after praising Biden's Middle East 'accomplishments' By EMMA RICHTER FOR DAILYMAIL.COM Published: 22:54, 29 December 2024 | Updated: 22:56, 29 December 2024 e-mail View comments A panelist was embarrassingly taken down by CNN pundit Scott Jennings after she praised President Joe Biden for his 'accomplishments' in the Middle East. Karen Finney, a US political consultant and Hillary Clinton's former spokesperson during her 2016 campaign, told Jennings that those 'accomplishments' will 'also stand the test of time.' As she said this, Jennings, who has become known for his dissonance from the network's progressive stance, quickly shot her down and corrected her statements. In reference to Biden, Finney said: 'I think he still, look, he showed up for the job. He got the work done. 'I think some of the accomplishments also, in the Middle East and foreign policy will also stand the test of time,' she added. 'You think the Middle East is in better shape today than when he took office?' Jennings asked Finney as he smirked toward the camera. 'Well, I think he got our hostages home. I think that's a big deal. I think it's important..' Finney said as Jennings cut her off and looked at her in awe. 'I'm sorry, which hostages?', he questioned. Finney then said Biden 'has gotten a number of people home,' as she stumbled on her words. Karen Finney, a US political consultant, was quickly shot down by CNN pundit Scott Jennings after she hailed President Biden has 'accomplishments' in the Middle East Jennings corrected Finney as she said that Biden has 'gotten a number of people home' from the war, as he butted in and said that 100 people are still trapped in Gaza 'There's still 100 people over there,' Jennings said, referring to the hostages still trapped in Gaza as the Israeli-Palestinian war continues more than a year later. In an effort to save herself, Finney told Jennings: 'Well, there were more than that,' just before he makes it clear that some of the hostages are Americans. Jennings quickly changed the subject and looked away from Finney as he discussed his predictions for Biden after he's booted from the White House in a couple weeks by President-elect Donald Trump. 'Look, I think he's gonna leave office in disgrace. The Hunter Biden pardon was disgraceful. 'He's going to be remembered largely for inflation and for the disastrous Afghanistan pullout,' Jennings noted, adding that the 'massive cover-up' reportedly made by Biden's administration has led him to a 'diminished presidency.' Jennings also highlighted his rage with the 'massive cover-up' that reportedly went on by Biden's family and administration 'But as we continue to learn about the massive cover-up that went on, not about his health, but about this mental acuity, to cover that up - the efforts that were undertaken by the White House staff, by his [Biden's] family - not in the last couple of months, but for all four years, I think it's gonna be a really ugly chapter. 'It's a diminished presidency because of it,' Jennings said, adding that 'we don't know the full extent' of what Biden's team did to 'try and hide what they've been doing over in the west wing.' A recent bombshell report by The Wall Street Journal revealed that the White House tried to hide from the public Biden's rapidly diminishing mental condition for his entire presidency. Biden's team hired a vocal coach, put other officials into roles usually occupied by the president, scrapped meetings on his 'bad days', and kept him at arm's length from his own Cabinet members, the outlet reported. The explosive investigation has exposed an extensive, deliberate and years-long cover-up that also saw the administration gaslighting those who dared to claim Biden's abilities had deteriorated since he was Barack Obama's vice president. Despite the efforts of 'eager beaver hand-holders', Biden's decline became increasingly obvious, especially after Special Counsel Robert Hur last year released a report depicting a forgetful and frail then-81 year old. Hur decided not to charge Biden for keeping classified documents in his Delaware garage because he 'would likely present himself to a jury' as a 'sympathetic, well-meaning, elderly man with a poor memory.' Among the many struggles Biden has faced as president, inflation and the Middle East conflict reflect Jimmy Carter's time in the White House. President-elect Donald Trump has often compared the Democratic presidents, and has even labeled them two of the worst. 'Jimmy Carter's happy because he's had a brilliant presidency compared to Biden,' Trump joked on the campaign trail in April. Carter only served one term due to losing his 1980 reelection bid to Republican President Ronald Reagan. The former president died on Sunday, at the age of 100. Biden dropped his reelection bid in July after a disastrous June debate performance with his successor, Vice President Kamala Harris, losing to Trump in the general election last month. As Biden nears the end of his term, his poll numbers are closing in on Carter's as well. Biden's approval rating stands at 37 percent but is trending downward, so he's likely to leave with the same - or worse - numbers than Carter. What's more, is that a couple weeks ago, the Dow Jones Industrial Average fell 267 points or .6 percent down for the ninth straight day in a row - something that hasn't happened since February 1978, when 100-year-old President Carter was in office, CNN reported using FactSet data. CNN Joe Biden Share or comment on this article: CNN panelist's embarrassing takedown after praising Biden's Middle East 'accomplishments' e-mail Add commentChicago Bears CB Jaylon Johnson turns the page on untimely fall to focus on rare meeting with Justin Jefferson

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SEOUL – South Korean law enforcement officials on Monday requested a court warrant to detain impeached President Yoon Suk Yeol as they investigate whether his short-lived martial law decree on Dec. 3 amounted to rebellion. The Corruption Investigation Office for High-Ranking Officials, which is leading a joint investigation with police and military authorities into the power grab that lasted only a few hours, confirmed it requested the warrant from the Seoul Western District Court. They plan to question Yoon on charges of abuse of authority and orchestrating a rebellion. Recommended Videos Yoon has dodged several requests by the joint investigation team and public prosecutors to appear for questioning and has also blocked searches of his offices. It’s not clear whether the court will grant the warrant or whether Yoon can be compelled to appear for questioning. Under the country’s laws, locations potentially linked to military secrets cannot be seized or searched without the consent of the person in charge, and it’s unlikely that Yoon will voluntarily leave his residence if he faces detainment. Yoon’s presidential powers were suspended after the National Assembly voted to impeach him on Dec. 14 over his imposition of martial law that lasted only hours but has triggered weeks of political turmoil, halted high-level diplomacy and rattled financial markets. Yoon’s fate now lies with the Constitutional Court, which has begun deliberations on whether to uphold the impeachment and formally remove Yoon from office or reinstate him. Yoon has defended the martial law decree as a necessary act of governance, describing it as a warning against the liberal opposition Democratic Party, which has been bogging down his agenda with its majority in the parliament. Parliament voted last week to also impeach Prime Minister Han Duck-soo, who had assumed the role of acting president after Yoon’s powers were suspended, over his reluctance to fill three Constitutional Court vacancies ahead of the court’s review of Yoon’s case. The country’s new interim leader is Deputy Prime Minister Choi Sang-mok, who is also finance minister.

5 ways to tell if you’re on track for retirement — and 5 things to do if you need to catch up, according to expertsBig Cypress Acquisition (OTCMKTS:BCYP) & Passage Bio (NASDAQ:PASG) Head to Head SurveyBy Bill Hughes For the Observer-Reporter newsroom@observer-reporter.com Throughout his athletic and professional career, Scott Nedrow has received many accolades. However, the 1973 Ringgold graduate and 1978 Pitt graduate recently received word that he will be recognized with an honor that he ranks up there with any previous award. Recently, the University of Pittsburgh Varsity Letter Club announced its 2025 Awardees of Distinction, and Nedrow will be recognized when the recipients are honored Friday, Jan. 10 at the 63rd Anniversary Letters Club Award Dinner. Nedrow, a member of the men’s basketball team at Pitt (1973-74 to 1977-78), will be one of six inductees. “It is a tremendous honor, and if you look at the list of people who have been selected, to be a part of this group, it is a very big honor to top off a lot of things in my life,” he said. “It is an indication of the family I was blessed with, the teammates I played with and the coaches I had that were all very special.” To be nominated, a former Pitt student-athlete had to have been a letterman and it has to be at least 25 years after they graduated or their playing days ended. Nedrow explained the process. “It is done by committee, and this was the fourth year I was nominated,” he said. “There are a lot of very worthy candidates up for selection and it’s a big deal.” How was Nedrow notified? “Sam Clancy, the Director of the Varsity Letter Club and my former teammate, called me and gave me the news on Nov. 20th.” Nedrow originally made a name for himself as a standout basketball player at Ringgold. During his senior year, the team won Ringgold’s first WPIAL championship on a loaded team that saw all five starters, and the sixth man, go on to play Division I sports in college. The Rams finished 29-2 and lost in the PIAA semifinals to General Braddock, a team they beat twice during the season. The other starters on the team were Ulice Payne (Marquette, basketball), Mel Boyd (Pitt, track & field), Mike Brantley (Indiana State), and future NFL Hall of Famer Joe Montana (Notre Dame, football). Donnie Miller, the sixth man, went on to play football at Delaware. “It was an incredible group of young men,” Nedrow said. “We still keep in touch.” Nedrow spoke about what it was like growing up in the Mon Valley and how it helped shape him. “Around here, it is a different breed, the type of work ethic and competitiveness,” he said. “And you don’t forget where you came from.” Nedrow appreciated the lessons his parents taught him. “The fact of the matter is, my father was my toughest coach and my whole family was athletic,” he said. “My mother put the emphasis on the academic side and instilled how it was just as important as the athletics.” During his freshman year, Nedrow was a member of the Pitt team that reached the NCAA Elite Eight. After redshirting his sophomore year, Nedrow became a starter and was the second-leading scorer in 1976 and the third-leading scorer in 1977. He was elected co-captain of the 1978 team. In his senior year, Nedrow was given the Blue Gold Award given to the Outstanding Student-Athlete and was nominated for the prestigious Rhodes Scholarship to study at Oxford University in London. Later that year, he was contacted by the Seattle Seahawks for a tryout in the NFL. Upon graduation from Pitt, Nedrow received his Masters in Business Administration from Emory University in Atlanta, majoring in Finance and Accounting. His professional career took him to the financial world where he worked on Wall Street, including a three-year assignment in the Far East. Nedrow has returned home to the Mon Valley, where he started a small consulting firm and began training kids in basketball from youth ages through college-aged athletes. He is currently on the Mid Mon Valley Transit Authority Board of Directors and previously served in the same position with Valley1st Federal Credit Union. He is also active with the churches he attends. “My faith is important,” he said. Another passion Nedrow has had since his youth is golf and has transitioned to teaching the game more at this point than he teaches basketball. “I am more focused on golf,” Nedrow said. “Golf coaching is where I can make more of an impact as it is a complicated and mental individual sport.” Nedrow is currently the assistant golf coach at Charleroi High School. Coaching and working with athletes brings things full circle for Nedrow, who had many others help him along his journey. “Giving back to others, as others had given to me, is a big part of my spirit,” he said. “Through college, it was a blessing to have many mentors, and to play with many great athletes and for notable coaches.” Nedrow was inducted into the Mid Mon Valley All Sports Hall of Fame in 2017 and the Pittsburgh Basketball Club Legends Hall of Fame in 2018. The other 2025 Awardees of Distinction include Edwin Klein (tennis), Darelle Porter (men’s basketball), Peri Jude Radecic (track and field and cross country), Jennifer Rumbaugh (women’s swimming), and Beth Tasi (women’s basketball). Also being recognized will be two current student-athletes in Chinaza Ndee (volleyball) and Artie Rowell (football) as recipients of the Pitt Varsity Letter Club Rising Star Award. This is the second year for the Rising Star distinction, and it celebrates Forever Panthers within 10 years of their final competition who have distinguished themselves in careers or their community. The Jan. 10th dinner will take place at the Courtyard Pittsburgh University Center, and the honorees will also be recognized at Pitt’s basketball game against Louisville the next day.

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Scanlan: Time for legislators to protect womenBy Anna Helhoski, NerdWallet The battle to get here was certainly an uphill one, but people are generally feeling better about the economy and their finances than they once did. On top of that, the economy has been easing into an ideal, Goldilocks-like position — not running too hot or cooling too quickly. Throughout 2024, consumer sentiment data showed people were fairly positive about the economy and their own finances, even if there’s remaining frustration over elevated prices compared to four years ago. Looking ahead, households are feeling more optimistic about their personal finances in the next year, as the share of those expecting to be in a better financial situation a year from now hit its highest level since February 2020. Combine positive personal vibes with a strong economic picture and it looks like 2024 wasn’t so bad for consumers, after all. But that doesn’t mean there weren’t bumps in the road or potential roadblocks ahead. To cap off the year, NerdWallet writers reflect on the top trends in personal finance and the economy this year — and what they think might be ahead in 2025. Elizabeth Renter, NerdWallet’s economist What happened: In 2024, U.S. consumers have proven resilient following a period of high inflation and ongoing high interest rates. Wage growth has been strong, owing in part to rising productivity. This has driven robust spending throughout the year, which has kept the economy growing at a healthy pace. The labor market has remained steady, though cooler than 2023, and price growth continues to moderate towards the Federal Reserve’s 2% inflation goal. What’s ahead: Barring significant changes to economic policy and significant shocks, the U.S. economy is expected to grow at a moderate rate in the coming year. Inflation will continue to moderate and the labor market will remain relatively healthy, all due in part to continued slow and deliberate rate cuts from the Fed. However, there are risks to this path. Higher tariffs and tighter immigration policies are likely, but the extent of these changes are yet unclear. The potential policy scenarios are many, and the economic outcomes complex. Increased tariffs are generally inflationary, and stricter immigration policies could impact the labor supply and economic growth. Consumers and small business owners with their eyes to the new year should focus on the things within their control. Margarette Burnette, consumer banking and savings writer What happened: High-yield savings accounts and certificates of deposit offered elevated rates in 2024, rewarding savers with strong returns. Following the Federal Reserve rate cuts in the second half of the year, high-yield accounts had modest rate decreases, but they continued to outperform traditional savings accounts and CDs. What’s ahead: We’re watching for further Federal Reserve rate cuts, which could lead to more decreases in savings rates. Sara Rathner, credit cards writer What happened: Credit card debt levels hit record highs, with consumers turning to credit cards to pay for necessities. While the economy is doing well, many individuals have struggled to make ends meet, as incomes haven’t kept up with certain costs. What’s ahead: We may see some policy and regulation changes with the incoming administration that could affect folks when it comes to credit cards, debt and consumer protections. Ryan Brady, small business writer What happened : New businesses continued to blossom in 2024 as business applications remained well above pre-pandemic levels. Confidence in the future state of the U.S. economy also spiked after the presidential election, but that optimism was tempered by concerns over rising costs and labor quality. What’s ahead: All eyes are on the incoming administration as small-business owners brace for turbulence resulting from potential tariffs, tax policy changes and dismantled government regulations. We’re also watching the possibility of interest rate cuts in 2025 and small-business owners’ growing reliance on new technologies, such as AI. Holden Lewis, mortgages writer What happened: Home buyers struggled with elevated mortgage rates, rising house prices and a shortage of homes for sale. On top of that, a new rule required buyers to negotiate their agents’ commissions. What’s ahead: The Federal Reserve is expected to cut short-term interest rates, but mortgage rates might not necessarily fall by a similar amount. Buyers will probably have more properties to choose from, and the greater supply should keep prices from rising a lot. Interest rates on home equity loans and lines of credit should fall, making it less expensive to borrow to fix up homes — either to sell, or to make the home more comfortable and efficient. Sam Taube, investing writer What happened: The stock market had a great year. The S&P 500 is up more than 25% due to falling interest rates, fading recession fears, AI hype, and the possibility of lighter taxes and regulations under the new administration. Cryptocurrency also saw big gains in 2024; the price of Bitcoin crossed the $100,000 mark for the first time in December. What’s ahead: A lot depends on how fast the Fed reduces rates in 2025. Another key unknown is Trump’s second term. Regulatory rollbacks, such as those he has proposed for the banking industry, could juice stock prices — but they also could create systemic risks in the economy. His proposed tariffs could also hurt economic growth (and therefore stock prices). Finally, it remains to be seen whether trendy AI stocks, such as NVIDIA, can continue their momentum into next year. It’s the same story with crypto: How long will this bull market last? Caitlin Constantine, assistant assigning editor, insurance What happened: Many people saw their home and auto insurance premiums skyrocket in 2024. In some states, homeowners are finding it harder to even find policies in the first place. Meanwhile, life insurance rates have started to decrease post-pandemic. We also saw more insurers offering online-only policies that don’t require a medical exam. What’s ahead: Auto and home insurance costs will likely continue to rise, although auto premiums may not rise as dramatically as they have over the past few years. And if you’re in the market for life insurance, expect to see competitive life insurance quotes and more customizable policies. Eliza Haverstock, student loans writer What happened: Borrowers received historic student loan relief, but lawsuits derailed an income-driven repayment plan used by 8 million whose payments are indefinitely paused. Uncertainty will carry into 2025 as a result of the presidential administration change. What’s ahead: Trump has pledged to overhaul higher education and rein in student loan relief. The fate of the SAVE repayment plan, student loan forgiveness options, FAFSA processing and more remain in the balance. Meghan Coyle, assistant assigning editor, travel What happened: People are willing to pay more for big and small luxuries while traveling, and airlines and hotels are taking note. Many airlines raised checked bag fees early in 2024, credit card issuers and airlines invested in renovated airport lounges, and major hotel companies continued to add luxury properties and brands to their loyalty programs. What’s ahead: Southwest will say goodbye to its open seating policy and introduce new extra-legroom seats, a major departure for the airline. Alaska Airlines and Hawaiian Airlines will unveil a unified loyalty program in 2025. Spirit Airlines may attempt to merge with another airline again after its 2024 bankruptcy filing and two failed mergers under President Biden’s administration. Travelers will find that they’ll have to pay a premium to enjoy most of the upgrades airlines and hotels are making. Laura McMullen, assistant assigning editor, personal finance What happened: This year, dynamic pricing expanded beyond concerts and travel to online retailers and even fast-food restaurants. This practice of prices changing based on real-time supply and demand received plenty of backlash from consumers and prompted the Federal Trade Commission to investigate how companies use consumers’ data to set prices. What’s ahead: Beyond an expansion of dynamic pricing — perhaps with added oversight — expect subscription models to become more prevalent and demand for sustainable products to grow. Shannon Bradley, autos writer What happened: New-car prices held steady in 2024 but remained high after a few years of sharp increases — the average new car now sells for about $48,000, and for the first time ever the price gap between new and used cars surpassed $20,000 (average used-car prices are now slightly more than $25,000). Overall, the car market returned to being in the buyer’s favor, as new-car inventories reached pre-pandemic levels, manufacturer incentives began making a comeback and auto loan interest rates started to decline. What’s ahead: The future of the car market is uncertain and depends on policies implemented by the incoming administration. Questions surround the impact of possible tariffs on car prices, whether auto loan rates will continue to drop, and if federal tax credits will still be available for electric vehicle buyers. Jackie Veling, personal loans writer What happened: Buy now, pay later continued to be a popular payment choice for U.S. shoppers, even while facing headwinds, like an interpretive ruling from the CFPB (which determined BNPL should be regulated the same as credit cards) and Apple’s discontinuation of its popular Apple Pay Later product. Large players like Affirm, Klarna and Afterpay continued to offer interest-free, pay-in-four plans at most major retailers, along with long-term plans for larger purchases. What’s ahead: Though more regulation had been widely anticipated in 2025, the change in administration suggests the CFPB will play a less active role in regulating BNPL products. For this reason, and its continued strength in the market, BNPL will likely keep growing. Taryn Phaneuf, news writer What happened: Easing inflation was a bright spot in 2024. In June, the consumer price index fell below 3% for the first time in three years. Consumers saw prices level off or decline for many goods, including for groceries, gas and new and used vehicles. But prices haven’t fallen far enough or broadly enough to relieve the pinch many households feel. What’s ahead: The new and higher tariffs proposed by the Trump administration could reignite inflation on a wide range of goods. Taryn Phaneuf, news writer What happened: Rent prices remain high, but annual rent inflation slowed significantly compared to recent years, staying around 3.5% for much of 2024, according to Zillow, a real estate website that tracks rents. A wave of newly constructed rental units on the market seems to be helping ease competition among renters and forcing landlords to offer better incentives for signing a lease. What’s ahead: If it continues, a softening rental market could work in renters’ favor. But construction is one of several industries that could see a shortage of workers if the Trump administration follows through on its promise to deport undocumented immigrants. A shortage of workers would mean fewer houses and apartments could be built. Anna Helhoski, news writer What happened: After a contentious presidential campaign, former President Donald Trump declared victory over Vice President Kamala Harris. While on the campaign trail, Trump promised to lower inflation, cut taxes, enact tariffs, weaken the power of the Federal Reserve, deport undocumented immigrants and more. Many economists have said Trump’s proposals, if enacted, would likely be inflationary. In Congress, Republicans earned enough seats to control both houses. What’s ahead: It’s unclear which campaign promises Trump will fulfill on his own and with the support of the new Congress. He has promised a slew of “day one” actions that could lead to higher prices, including across-the-board tariffs and mass deportations. Most recently, Trump pledged to enact 20% tariffs on Canada and Mexico, as well as an additional 10% tariff on China. He has also promised to extend or make permanent the 2017 Tax Cuts and Jobs Act; many of its provisions expire by the end of 2025. Anna Helhoski, news writer What happened: Fiscal year 2023-2024’s funding saga finally came to an end in March, then six months later, the battle to fund the fiscal year 2024-2025 began. The Biden Administration waged its own war against junk fees . Antitrust enforcers pushed back against tech giants like Amazon, Apple, Google, and Meta; prevented the Kroger-Albertsons merger; nixed the Jet Blue-Spirit Airlines merger; and moved to ban noncompete agreements. The Supreme Court rejected a challenge to the constitutionality of the Consumer Financial Protection Bureau, as well as a challenge to abortion pill access. SCOTUS also overruled its landmark Chevron case, which means every federal regulatory agency’s power to set and enforce its own rules are now weaker. What’s ahead: The election’s red sweep means the GOP will control the executive and legislative branches of government. They’ll face the threat of at least one more potential government shutdown; a debt ceiling drama comeback; and the beginning of the debate over extending or making permanent provisions of the expiring 2017 Tax Cuts and Jobs Act. More From NerdWallet Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article What Trended in Personal Finance in 2024? originally appeared on NerdWallet .

Jimmy Carter, 39th US president, Nobel winner, dies at 100Daily Post Nigeria Muhammad Nami: VAT attribution and derivation: A personal appeal to all parties Home News Politics Metro Entertainment Sport Opinion Muhammad Nami: VAT attribution and derivation: A personal appeal to all parties Published on November 25, 2024 By Daily Post Staff I have read a ton of views on the proposed Nigeria Tax Administration and other tax reform bills. On one hand, some stakeholders decry the bills as being a contrast to the current administration’s championing for local government autonomy. Some, like the National Economic Council (NEC), last month recommended the withdrawal of the bills, stating that there were too many controversies surrounding it. They called for more inclusion in the stakeholder consultation process. The Northern Governors Forum (NGF) in similar fashion rejected the new derivation-based model for Value Added Tax (VAT) distribution in the bills. On the other hand, some wholly support the bills and believe that their benefits are transformational and necessary. Each stakeholder and commentator holds their view in light of information that is available to them. And that is valid and fair. But before I go into the lengthy details of my thoughts on this matter, let me share the definition of the two subjects that are crucial to this conversation: attribution and derivation. The principle of derivation in revenue sharing ensures that revenues from taxes are distributed to the region or jurisdiction where they were generated. For example, if a company generates revenue through sales in a particular state, a portion of the taxes or royalties from that economic activity is returned to the state. The principle of attribution, on the other hand, involves allocating tax revenues based on predefined criteria, such as population size, geographical size, need, national interest, expenditure responsibilities, etc., rather than the location of a tax-generating entity. Thus, revenues are collected nationally and are distributed to states according to agreed-upon formulas. MY VIEW “The present controversy is based on the VAT sharing formula proposed in Section 77 of the Nigeria Tax Administration Bill. I have come to appreciate that the myriad of criticisms against this well-intended bill may be a result of the lack of clarity or understanding of Section 22 (12) of the Bill, which provides for Attribution of VAT Revenue, requiring companies to file their returns on the basis of derivation by location (place of consumption). “This provision, from my understanding, was included to cure an existing problem with our current VAT administration. As it stands today, in the existing system, VAT returns by companies are not filed on the basis of the place of consumption but reported based on the head office locations of these companies. This means that a whopping 20% of VAT returns are distributed back to states where these head offices are located—whether consumption took place there or not; it explains why Lagos, FCT and Rivers always take the largest chunk of VAT under the current regime. “The proposed amendments of the Nigeria Tax Administration Bill offer a different position that emphasises fairness and more equitable distribution of VAT returns. It proposes that VAT will now be reported based on the place of consumption, which will ensure that most of the amounts currently reported for Lagos, FCT and Rivers states will now be reported by where the consumption takes place. “The new rule will ensure that places where consumption took place get 60% of the amounts reported for them. For instance, if consumption happens in Niger State, the state would receive 60% of the VAT generated from its jurisdiction, while the balance would be put in a VAT sharing pool, which it (Niger State) would further benefit from. “In my view, this will result in a more favourable outcome for most states when compared to the current regime that favours Lagos, Rivers and FCT. It will more or less redistribute most of the present allocation received by those 3 states. My appeal to NEC, NGF and NEF as well as other stakeholders, is thus: A. We must not make the misjudgment of throwing away the baby with the bathing water. B. Let us carefully look at the benefits of these reforms and weigh the impact on our tax and fiscal space versus the proposed amendments’ ‘perceived shortfalls’. C. There is no single problem on earth that is without a solution. In this light, we should think out of the box and suggest workable solutions to address or fix these perceived shortfalls, or we will be condemned to having our cap in hand at the doorsteps of the World Bank and IMF Headquarters more frequently than ever. D. On a personal note and based on my little experience as a tax accountant, consultant and administrator, I would suggest to all stakeholders, particularly the National Assembly, to go ahead and consider the bill, pass it to law, and have Mr. President sign same, but provided the proposed amendments to the VAT law will be implemented in phases bearing in mind the following: 1. FIRS is currently undergoing its own reforms; the FIRS Establishment Act has been re-presented to the NASS and is receiving their attention simultaneously. For FIRS to be able to function as envisaged by the proposed changes or amendments to the FIRS Act, then it must first fix the roof over its head to ensure that if any storm arises tomorrow, revenue administration officials and our money entrusted in their hands would be safe. 2. ⁠FIRS must also fix the issue of fiscalisation within the next three to five years from now. The need for fiscalisation is one of the key amendments proposed in the Nigeria Tax Administration Bill before the NASS. Fiscalisation is the process of using technology, like cash registers or POS systems, to ensure businesses comply with tax laws by automatically recording and reporting their sales to tax authorities. It is an expensive project and will not only require political will at the centre but also at the sub-national level. To achieve it, the FG, FIRS and FAAC must be ready to jointly fund this project. It is important because it will bring about transparency and accountability as well as address the issue of subjectivity, which is mainly the fear of the members of NEC, particularly the NGF. I must emphasize that Fiscalisation cannot happen without data. This brings me to my third point. 3. ⁠The FIRS HQ project should be completed and equipped as a world-class edifice while ensuring that the entire floor historically conceived as the “National Revenue Data Centre” becomes a reality. 4. ⁠Item 2 above (i.e., fiscalisation) will not only address the issue of transparency and accountability; it will also curtail the influence and excesses of vested interests, particularly the tax accountants who are accomplices in the whole of this VAT issue. If the amendment is passed into law and its implementation is not delayed, say by 3 to 5 years, the fear of the stakeholders would be justified because tax accountants are likely to be subjective (or used to being subjective) in the course of filing VAT returns (i.e., VAT attribution) in favour of the states of their choice or those of the choices of some of the political class. As a tax accountant of your company, you know where your customers are located if not all, especially the major ones. But when asked to file their companies’ monthly VAT returns based on the location of their customers, for instance, sentiments come into play. And even with the proposal in Section 77 of the Tax Administration Bill, the subjectivity is likely to continue. Though it was an administrative initiative at FIRS in 2020, I recall that we redesigned the VAT Form 002 that required companies to file their VAT returns based on attribution. Only a few companies (less than 10) complied with our directives nationwide (i.e., file VAT returns based on the location of their customers.) Fiscalisation will help our revenue administrators in many ways including boosting their capacity to generate more revenue for the Federation. It has the capacity to address or track transactions or sales of goods from a customer in one state to the other, particularly cashless transactions. It will also create room for the implementation of a system for immediate tax refunds. 5. Phasing the implementation of the two key controversial but necessary amendments to the VAT law would also assist the states to go back home, sit and weigh the level of financial inclusion in their respective states and address them accordingly. Recent reports on financial inclusion reveal that while you may have an estimated population of 10 million people in a given state for example, less than 2 million of that population would be financially inclusive. In some states, more than 70% of the population do not have a BVN not to talk of a bank account. So as a state governor, your argument that huge consumption is taking place in your state but the current ‘headquarters effect’ is affecting your share of monthly VAT revenue can only be addressed when your resident population are financially inclusive. It goes without saying that your problem would be compounded in the near future if buying and selling of goods continues to happen in your state using cash. Buying and selling of goods and services in this fashion will also affect your ability to improve on your state’s IGR. 6. ⁠The process of input-output mechanism in VAT input claim is another key issue that has been of keen interest to me, and equally needs to be emphasised here. The intended amendments and fiscalisation of Nigeria’s business environment will also help in addressing sharp practices or the abilities of businesses to manipulate the input claim in the course of filing their monthly VAT returns. This is because under the current regime, if an item is purchased in Lagos and taken to Kano for example, the Kano company will not be able to claim the input VAT if the Lagos company fails to correctly disclose the location of its output VAT. With fiscalisation the input claim of the Kano company will simply expose the Lagos company. In my view, the following four (4) factors will drive compliance with the proposed tax reform bills, and this will mean more revenue to share to the states: 1. Attribution is now clearly provided in the law. It is no longer an administrative decision or at the discretion of the FIRS or tax accountants working for or representing VAT agents nationwide. 2. There is now a strong political will to drive tax reforms, this means that tax laws will not only be passed but will be well enforced going forward in Nigeria. 3. Technology deployment for VAT invoicing and fiscalisation is clearly provided in the new bills, with the attendant administrative processes that are ongoing to implement same. It will no longer be at the discretion of companies to determine who bought what—technology will. 4. The processes and challenges in Input-Output mechanism in VAT input claims will now be addressed using technology. Finally, the many benefits of these bills are excellent. It behoves us to give the NASS our support to pass them into law. But I hold that we should do so on the following conditions: A. That the implementation of the Tax Administration Bill should be phased. B. That the implementation (i.e., the effective date) of the proposed amendments to Section 77 of the Tax Administration Bill should be delayed for at least three to five years to enable all parties to plan and invest in technology and the relevant infrastructure. C. FIRS should administratively prepare the minds of all stakeholders, particularly the VAT agents, lawyers and tax accountants, on the need to honestly file VAT returns based on attribution as a first step, because Section 26 of the FIRS Establishment Act (as it is today) is adequate enough for them to call for VAT returns based on attribution from all VAT agents in Nigeria. D. The current sharing formula should be used in distributing revenue accruable from VAT to all parties, and all parties within the next three to five years (that the amendment is expected to take effect) would have played their part so that there would be equity, transparency and accountability as intended by the proposed amendments to the VAT law. Muhammad Nami, a tax accountant and consultant, is the immediate past Executive Chairman of the Federal Inland Revenue Service (FIRS) and Joint Tax Board. He was also the President of the Commonwealth Association of Tax Administrators (CATA). Related Topics: Muhammad Nami Phyna VAT Don't Miss Aviation safety: Are airlines regulating the regulators? You may like Phyna disowns family, drops surname Arabinrin Aderonke: Tax Reform Bill: VAT as a consumption tax DNA test should be made compulsory after birth – Phyna Why VAT proposal is generating controversy – Oyedele, Tax Committee Chair Hardship: Nigerian govt removes VAT on cooking gas, CNG, diesel VeryDarkMan invites Phyna to a date amidst legal battle with Falanas Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media Ltd