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AP News Summary at 2:27 p.m. EST
“As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It’s an honor for General Motors and Cadillac to join the world’s premier racing series, and we’re committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level.” The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. “We’re excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we’re assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world.’’ Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti’s dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years and F1 initially denied the application despite approval from F1 sanctioning body FIA . The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they’ve already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti’s application was the only one of seven applicants to meet all required criteria to expand F1’s current grid. “General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. “Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024,” F1 said in a statement. “Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. “With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." AP auto racing: https://apnews.com/hub/auto-racingInvestors with a lot of money to spend have taken a bullish stance on Charles Schwab SCHW . And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SCHW, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga 's options scanner spotted 9 uncommon options trades for Charles Schwab. This isn't normal. The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish. Out of all of the special options we uncovered, 5 are puts, for a total amount of $287,314, and 4 are calls, for a total amount of $142,650. Projected Price Targets Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $62.5 to $80.0 for Charles Schwab over the recent three months. Volume & Open Interest Trends Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Charles Schwab's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Charles Schwab's substantial trades, within a strike price spectrum from $62.5 to $80.0 over the preceding 30 days. Charles Schwab Option Volume And Open Interest Over Last 30 Days Largest Options Trades Observed: Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume SCHW PUT SWEEP BULLISH 02/21/25 $1.61 $1.56 $1.56 $70.00 $70.6K 5.6K 1.2K SCHW CALL SWEEP BEARISH 03/21/25 $1.93 $1.84 $1.84 $80.00 $62.0K 2.4K 512 SCHW PUT SWEEP BULLISH 03/21/25 $1.37 $1.33 $1.33 $67.50 $59.0K 1.1K 1.0K SCHW PUT SWEEP BULLISH 03/21/25 $1.39 $1.34 $1.34 $67.50 $55.7K 1.1K 508 SCHW PUT SWEEP BULLISH 02/21/25 $1.55 $1.54 $1.55 $70.00 $55.6K 5.6K 362 About Charles Schwab Charles Schwab operates in brokerage, wealth management, banking, and asset management. It runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website, and it has mobile trading capabilities. It also operates a bank and a proprietary asset-management business and offers services to independent investment advisors. Schwab is among the largest firms in the investment business, with over $9 trillion of client assets at the end of September 2024. Nearly all of its revenue is from the United States. In light of the recent options history for Charles Schwab, it's now appropriate to focus on the company itself. We aim to explore its current performance. Present Market Standing of Charles Schwab With a volume of 1,481,762, the price of SCHW is down -0.18% at $74.17. RSI indicators hint that the underlying stock may be oversold. Next earnings are expected to be released in 23 days. Expert Opinions on Charles Schwab A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $93.2. Turn $1000 into $1270 in just 20 days? 20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access .* An analyst from Wells Fargo persists with their Equal-Weight rating on Charles Schwab, maintaining a target price of $90. * An analyst from Barclays upgraded its action to Overweight with a price target of $95. * An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $94. * An analyst from Jefferies has decided to maintain their Buy rating on Charles Schwab, which currently sits at a price target of $94. * Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Outperform rating for Charles Schwab, targeting a price of $93. Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you want to stay updated on the latest options trades for Charles Schwab, Benzinga Pro gives you real-time options trades alerts. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
One of the interesting facts about Scott Morrison’s period as prime minister is that he managed to squander public approval twice. The second came via a long, protracted slide through most of the pandemic. But in fact his popularity had sunk as low – and much, much faster, at least in Newspoll – just a few months after his 2019 election victory. The main event involved was that summer’s bushfires. His trip to Hawaii is the symbol of that failure, but the actual problems were long and drawn-out. There was the slowness to act and the failure to meet with emergency leaders, the mangled handshakes, “I don’t hold a hose” and the sidestepping of the climate debate. Prime Minister Anthony Albanese and Opposition Leader Peter Dutton are neck and neck in opinion polls. Credit: Alex Ellinghausen The political ramifications of a natural disaster are the least important thing about it. I recount this because it’s always worth keeping in mind, in politics, how quickly things can change. Also: how dominant a crisis can be. Morrison’s disastrous summer, in fact, was only really rescued by the advent of another crisis – the early part of the pandemic, when his numbers soared – before that crisis, too, destroyed him. Recent weeks have seen at least two significant shifts, with another at least possible. For a long time, it seemed as though the Albanese government would get a rate cut – even two – before the election. As I wrote a few weeks back, this had the potential to act as tangible affirmation of its economic strategy , the other elements of which – wage growth, job creation – had been lining up nicely. Last week, Westpac joined NAB in predicting the next rate cut would come on May 20 – three days after the last possible date for the election. The government now has to hope voters’ moods improve without that rate cut. It’s possible. Essential poll last week found a small fall in people who say they’re struggling. There was a small but notable shift in one of the more interesting indicators: whether people believe the country is on the right track. It’s too early to spot a trend, and more people disagree than agree – but the “right direction” figure was (just) the highest it’s been since May 2023 . Illustration by Joe Benke Credit: The second change is the victory of Donald Trump. There are signs – like his retreat from the nomination of Matt Gaetz as attorney-general – that Trump’s term may be as bizarre as his first. One veteran observer suggested to me some time ago that a Trump victory may play into Albanese’s slow-and-steady approach: that in an era of messiness, boredom becomes appealing. At present, though, the opposite is the case. Last week, a Freshwater Strategy poll in the Australian Financial Review found 36 per cent of voters believed Albanese was best placed to deal with Trump – against 47 per cent who favoured Dutton. Finally, we should all hope this is a quiet season for natural disasters. Recent weeks have reminded us, this can’t be taken for granted. There have been bushfires in Queensland, the ABC reporting that amid the smoke last month Mount Isa was briefly “the most polluted city in the world”. There were evacuations in response to fires in Victoria (arson seems to have played a role in several of these). How bushfires might affect the political situation would depend, to a great extent, on the prime minister’s response. This close to a poll, major conclusions drawn would be about him personally. How Albanese handled the question of climate change would be significant. (That same Essential poll found only half of voters believe hotter summers are the result of climate change.) But what would also move into the spotlight would be the continuing climate change splits within the opposition. Here we come to another recent shift, one that is sharpening the political contest. At the beginning of this term, it seemed Peter Dutton wanted to oppose most things: he had not yet learnt the fine art of picking his battles. In recent months, he has avoided fights on some key issues: aged care, disabilities and social media. Even his apparently “bold” foray on nuclear energy, as I’ve argued before , is best understood in this context: wanting to avoid a battle, either within his party or with Labor, over whether climate change action is necessary. Yet Dutton has picked a very specific fight: he will oppose Labor’s bill to bring down international student numbers – even though he has long suggested that’s his aim too. As journalist Bernard Keane observed , this is a mirror of Donald Trump’s successful move to block an immigration bill to keep the problem alive. This is of a piece with Dutton’s earlier decisions to make Labor’s life difficult on immigration detention bills. Dutton has learnt to use the parliament to narrow the political contest to his preferred issues, with immigration top of the list. With that in mind, it will be interesting to see what happens when Labor finally announces its universal childcare policy. Labor is hoping for significant political credit. But what if Dutton simply says he agrees? Meanwhile, there are some fights the nation should be having but isn’t. Bill Shorten, farewelling parliament last week, pointed out “our system still taxes property preferentially and lightly – and income heavily”. Anthony Whealy, chair of the Centre for Public Integrity, pointed out that the government and opposition seem to have reached an agreement, funnily enough, on donations changes that don’t do enough about money in politics while also giving the major parties advantages over independents. As Albanese told Sky News, “we’ve already chosen our slogan as you know, ‘building Australia’s future’.” Dutton seems to have chosen his issues, too. Given how much has changed in the past few weeks, and how much might still change in the months before polling day, both men would be wise to keep their options open. Sean Kelly is author of The Game: A Portrait of Scott Morrison , a regular columnist and a former adviser to Julia Gillard and Kevin Rudd.Nicola Hodson, from Widnes, leads the tech giant in the UK and Ireland The ‘woollyback’ UK boss of tech giant IBM says we shouldn’t be scared of AI – and says Liverpool could become a world technology leader. Widnes native Dr Nicola Hodson, a former Liverpool Harriers runner who got her PhD at the University of Liverpool , is now one of Britain’s tech leaders. As UK & Ireland CEO at IBM, she was back in Liverpool this week for the city region’s first ever AI Summit which saw world leaders in the field debate AI and its future at an event in Boxpark in the Baltic Triangle. Nicola, the event’s keynote speaker, told the crowd that she was originally from Widnes – and smiled: “To all the Scousers in the room, I am officially a woollyback.” Later she spoke to the ECHO about her life and career, and explained why she thought people should embrace AI rather than fearing it. While AI has had a lot of media hype, Nicola says the technology is starting to have a real world impact. She said: “Actually we think it's gone from hype into reality and we've got lots of customers who have got production use cases out there now delivering real business benefits. “One simple example – we worked with University Hospitals, Coventry and Warwickshire. the Health Trust. Like every other trust, they have long outpatients waitlist. And one of the challenges with that is no-shows. “So we did a piece of process mining and AI on the outpatients waitlist – scanning all the letters, understanding them in super quick time. It took 18 hours... and it would have taken humans four years to do. So a massive time saving. “But the big saving is that they've been able to now have 700 more doctor hours a week, which is massive. And if you think about scaling that across the NHS, then, you know, suddenly you've got a 5% to 6% productivity gain on a fairly simple AI use case.” With that hype comes a fear that AI will take jobs. Nicola says she understands the fear, but says people should look again at what has happened in the past. She said: “In every wave of technology, there's been a fear that it's going to take jobs and it so far hasn't. “People said ‘the Internet is going to take all the jobs’ – but what happens is some jobs do disappear, but not many. Most jobs change because they adapt to use the new technology. “And then there are a whole plethora of new jobs – an AI prompt engineer, for example, you wouldn't have known what that was a couple of years ago. So there's potential for growth in jobs and high quality jobs. “And I think if people are fearful, it's worth just remembering that when the Internet came, there was the hype cycle. There was some nervousness, but actually it's changed all our lives for the better.” Why you should try AI for yourself But if people are fearful about technology, Nicola said, they should try it for themselves to see what it can do. “The very best thing you can do is just get on and play with it. Try it out. Get over the fear factor. Just try some simple case use cases. “I'll give an example. One of my sons is at university. He came home with research papers that were really, really difficult. And he said, 'I've been through these and on this one, I just don't even understand what it's actually saying'. So do you think AI will help me? I said, I've no idea. Let's try it.” After trying a couple of standard large language model (LLM) AI systems, they tracked down a science-focused LLM instead. Nicola said: “We put the paper through it and lo and behold, what he got was the short paragraph summarizing the paper in layman's terms with a bit of science. And then when he read the paragraph, he got it, and then he could go and do his homework. “It's not doing the work for him, but it's just getting him over that first step. I didn't know what was possible in that scenario either. So go on and play. It's all there.” Get ready for the jobs of the future Her other suggestion is that people should learn AI skills themselves so they are ready for the AI-powered jobs of the future. She said: “Tech companies like us offer free training so you can skill yourself up. When I'm interviewing people and they've gone out and got skills for themselves, they have a massive head start, right? They're enterprising. They want to learn. They come in and fire on all cylinders. “So we have something called IBM SkillsBuild. We're trying to train 13 million people globally in digital technology. We are looking to train 2 million in AI by the end of 2026. It’s all free. And other tech companies have similar programs. So that's the way I think about fear and overcoming it. “ Nicola went to school in Widnes and then Liverpool — and even ran for Liverpool Harriers. She did her first degree and then her PhD at the University of Liverpool before moving into the nuclear industry with BNFL. Her career took her to companies including consulting giant Ernst & Young (now EY) and Siemens. She joined Microsoft in 2008, spending 14 years there, before joining IBM in 2023. IBM employs several thousand in the UK. It has a key research base at Daresbury in Halton and also has bases at locations including Manchester, London, Hursley near Winchester, Glasgow, Edinburgh and Dublin. Its key business areas include AI and hybrid cloud computing – while it is also carrying out cutting-edge research into quantum computing. Nicola said Liverpool was well-placed to become an AI superpower. She said: “The growth is incredible. The Liverpool City region is supplied with some great tertiary education in all different forms. There's already expertise here. You've got the life sciences hub, you've got excellence in creative design, you've got excellence in engineering, you've got obviously excellence in medical sciences and biomed. So lots of great kernels. “And of course, the city's always been known for its enterprise since way back when. There’s pioneering new tech, and you've got great industry around here.” And Nicola said the AI Summit was a great effort to get things started. She said: “The perfect combo is to get academia, small businesses and ad large businesses working together. And the fact that we've got the city region providing that coordination point bodes really, really well.”
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ISLAMABAD (AP) — Pakistani police arrested thousands of Imran Khan supporters ahead of a rally in the capital to demand the ex-premier’s release from prison, a security officer said Sunday. Khan has been behind bars for more than a year and has over 150 criminal cases against him. But he remains popular and his political party, Pakistan Tehreek-e-Insaf or PTI, says the cases are politically motivated. Shahid Nawaz, a security officer in eastern Punjab province, said police have arrested more than 4,000 Khan supporters. They include five parliamentarians. Pakistan has sealed off Islamabad with shipping containers and shut down major roads and highways connecting the city with PTI strongholds in Punjab and northwestern Khyber Pakhtunkhwa provinces. Tit-for-tat teargas shelling between the police and the PTI was reported on the highway bordering Punjab and Khyber Pakhtunkhwa. Earlier on Sunday, Pakistan suspended mobile and internet services “in areas with security concerns.” The government and Interior Ministry posted the announcement on the social media platform X, which is banned in Pakistan. They did not specify the areas, nor did they say how long the suspension would be in place. “Internet and mobile services will continue to operate as usual in the rest of the country,” the posts said. Meanwhile, telecom company Nayatel sent out emails offering customers “a reliable landline service” as a workaround in the areas suffering suspended cellphone service. Khan's supporters rely heavily on social media to demand his release and use messaging platforms like WhatsApp to share information, including details of events. PTI spokesperson Sheikh Waqas Akram said Khan's wife Bushra Bibi was traveling to Islamabad in a convoy led by the chief minister of Khyber Pakhtunkhwa, Ali Amin Gandapur. “She cannot leave the party workers on their own,” said Akram. There was a festive mood in Peshawar, with PTI members dancing, drumming and holding up pictures of Khan as cars set off for Islamabad. The government is imposing social media platform bans and targeting VPN services , according to internet advocacy group Netblocks. On Sunday, the group said live metrics showed problems with WhatsApp that were affecting media sharing on the app. The U.S. Embassy issued a security alert for Americans in the capital, encouraging them to avoid large gatherings and warning that even “peaceful gatherings can turn violent.” Last month, authorities suspended the cellphone service in Islamabad and Rawalpindi to thwart a pro-Khan rally. The shutdown disrupted communications and affected everyday services such as banking, ride-hailing and food delivery. The latest crackdown comes on the eve of a visit by Belarusian President Alexander Lukashenko . Interior Minister Mohsin Naqvi said authorities have sealed off Islamabad's Red Zone, which houses key government buildings and is the destination for Khan's supporters. “Anyone reaching it will be arrested,” Naqvi told a press conference. He said the security measures were in place to protect residents and property, blaming the PTI for inconveniencing people and businesses. He added that protesters were planning to take the same route as the Belarusian delegation, but that the government had headed off this scenario. Naqvi denied cellphone services were suspended and said only mobile data was affected. Associated Press writers Riaz Khan in Peshawar and Asim Tanveer in Multan contributed to this report.By Mumini AbdulKareem, Ilorin Youths across the country have been advised to explore the opportunities available in the tech ecosystem. This was disclosed at a two-day tech training workshop held in Ilọrin, Kwara State capital, on Saturday. The event was the seventh edition of Kwarabuild Tech Conference and aimed at fostering technological self-reliance and economic empowerment. It attracted over 1,500 youth from the North Central and beyond. Speaking during the event, Managing Director of the Ilorin Innovation Hub, Mr Temi Kolawole, said there are lots of potentials in the tech ecosystem that must be explored by the youth. He advised participants to domesticate the training to tackle local and global challenges through innovative solutions. While reiterating the vast potential in the tech industry, he urged participants to upskill, innovate, and collaborate to solve pressing societal challenges. “No foreigner will come to build Nigeria’s tech ecosystem for us. It is up to us to rise, acquire the skills, and create the future we desire,” Kolawole said. In his remarks, Kwarabuild Co-Founder, Ibraheem Zulkifli, said, “Our goal is to uncover hidden talents among the participants and equip them with the tools to achieve self-dependence”. He called for greater collaboration with the state government and key stakeholders to provide easier access to resources for youths eager to escape poverty and unemployment. Zulkifli added that participants were trained on identifying and solving various technological challenges during the workshop. His partner, Kamaldeen Kehinde, highlighted the significance of the event, which he said spared Kwarans the inconvenience of travelling to Lagos or neighbouring states for similar programs. Commissioner for Business, Innovation, and Technology, Mrs. Damilola Yusuf-Adelodun, reaffirmed the state government commitment to supporting tech startups and entrepreneurs in building a robust tech ecosystem. According to her, the state government has deeply invested in youth development and technological advancement. She emphasised that the Kwarabuild Tech Conference provided startups with an opportunity to network and grow their businesses. Mrs. Yusuf-Adelodun also reiterated her ministry’s commitment to engaging with tech experts, professionals, and entrepreneurs to address key areas such as funding, policy formulation, and innovative programmes. Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You. NEWS UPDATE: Nigerians have been finally approved to earn Dollars from home, acquire premium domains for as low as $1500, profit as much as $22,000 (₦37million+). Click here to start.
Posted by Horseed Staff According to a press release issued by the Ministry of Foreign Affairs, around 10:00 AM local time, the attack targeted three key locations that housed the Somalia’s National Army The Federal Government of Somalia has strongly condemned a surprise attack by Ethiopian forces in Doolow town, Gedo region, describing it as a grave violation of Somalia’s sovereignty and international agreements. According to a press release issued by the Ministry of Foreign Affairs, around 10:00 AM local time, the attack targeted three key locations that housed the Somali National Army, National Intelligence Service (NISA), and police forces; the number of Somali security personnel and civilians killed in the attack has not been made public. The incident comes at a particularly sensitive time, as a high-level Somali delegation led by Minister of State Ali Omar was scheduled to arrive in Addis Ababa the same day to strengthen bilateral ties under the framework of the recent Ankara Declaration. “This is a clear violation of the Ankara Agreement, the African Union Charter, the United Nations regulations, and the practice of good neighborliness,” the Somali foreign ministry stated in a strongly worded press release. The ministry warned that it “will not remain silent about these blatant steps that violate Somalia’s sovereignty.” Somalia’s internal political dynamics are making everything more complicated. The federal government in Mogadishu has been at odds with the Jubaland regional state, which is in charge of Doolow, which is located in the Gedo area. Currently, Jubaland Vice President Mahmoud Adam Sayid resides in the town. The Jubaland regional government, on the other hand, said in a press statement that Jubaland positions in Dolow were severely damaged by an attack by Somali federal forces. They declared that Dolow is still firmly under their hands and said that Jubaland soldiers have effectively repelled the attack.BIG TEN ROUNDUP
