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Trudeau set to make 2nd appearance at foreign interference inquiry – National

16Oct

By Aditi PawarNo Comments

Politics

Trudeau set to make 2nd appearance at foreign interference inquiry – National

By Jim Bronskill The Canadian Press Posted October 16, 2024 7:51 am Updated October 16, 2024 8:27 am 1 min read Descrease article font size Increase article font size Prime Minister Justin Trudeau is slated to testify Wednesday as a federal inquiry into foreign interference finishes the latest phase of its work. The commission of inquiry is looking at the ability of institutions to detect and fend off the attempts of hostile states to meddle in Canadian affairs.Over the last several weeks it has heard from seni...

This senior living stock is a buy with more than 30% upside, Jefferies says

16Oct

By Aditi PawarNo Comments

Business

This senior living stock is a buy with more than 30% upside, Jefferies says

The senior housing industry is approaching its "golden age" and Bookdale Senior Living should benefit, according to Jefferies. Analyst Brian Tanquilut initiated coverage of Brookdale Senior Living with a buy rating, saying that the sector should benefit from better occupancy as baby boomers "age into the sweet spot." "The combination of positive demographic trends, improved operations, and financial engineering ... should all translate to improved earnings performance that's not yet baked into the stock," he wrote. Along with the upgrade, Tanquilut established an $8 price target, reflecting 32% upside from Tuesday's close. The stock is up more than 4% this year. BKD YTD mountain Shares since the start of 2024 The firm expects Brookdale to experience heightened demand that should help accel...

Meta must face US state lawsuits over teen social media addiction

16Oct

By No Comments

World News

Meta must face US state lawsuits over teen social media addiction

By Brendan Pierson, Reuters Meta boss Mark Zuckerberg. Photo: AFP Facebook parent company Meta must face lawsuits by US states accusing it of fueling mental health problems among teens by making its Facebook and Instagram platforms addictive, a federal judge in California ruled on Tuesday. Oakland-based US District Judge Yvonne Gonzalez Rogers rejected Meta's bid to toss the claims made by the states in two separate lawsuits filed last year, one involving more than 30 states including California and New York and the other brought by Florida. Rogers put some limits on the states' claims, agreeing with Meta that a federal law known as Section 230 regulating online platforms partly shielded the company. However, she found that the states had put forward enough detail about allegedly mis...

Weekly mortgage demand tanks 17%, after interest rates hit the highest level since August

16Oct

By Aditi PawarNo Comments

Business

Weekly mortgage demand tanks 17%, after interest rates hit the highest level since August

A sign is posted in front of a home for sale on August 07, 2024 in San Rafael, California.Justin Sullivan | Getty ImagesMortgage interest rates rose last week for the third straight week, hitting the highest level since August. That caused demand from both current homeowners and potential homebuyers to take a big step back. Total mortgage application volume fell 17% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.52% from 6.36%, with points increasing to 0.65 from 0.62 (including the origination fee) for loans with a 20% down payment.Refinance demand, which is most sensitive to weekly rate mo...

Australia’s planned social media ban raises teen isolation fears

16Oct

By No Comments

World News

Australia’s planned social media ban raises teen isolation fears

By Byron Kaye and Cordelia Hsu, Reuters So far, no country has rolled out an age-based ban targeting internet platforms. Photo: RNZ Pacific/ Koroi Hawkins Analysis - For Tereza Hussein, a 14-year-old refugee who lives in Darwin, Australia's planned social media ban would mean losing a direct line to the most important person to her: a grandmother she has never physically met. "It's the only way I've ever connected to my grandma before, over socials," said Hussein, who was born in the Democratic Republic of Congo but lived in a refugee camp in Malawi before settling in Australia when she was nine. "It's going to have a very big change in my life because it's going to be hard for me to talk to the people that I've left behind," she said. While Hussein rarely posts on social media, she ...

Citi upgrades Cisco Systems, cites AI tailwinds

16Oct

By Aditi PawarNo Comments

Business

Citi upgrades Cisco Systems, cites AI tailwinds

Don't overlook the artificial intelligence potential of Cisco Systems , Citi said. Analyst Atif Malik upgraded shares of the networking company to buy from neutral, citing a shrinking valuation gap relative to peers and a growing AI ethernet total addressable market poised to hit $10 billion by 2025. "While AI is currently a small piece of the biz (~2% of revs), we see the potential for a stronger contribution," he wrote. "With more AI coming, we are incrementally more constructive on the group and expect continued investor rotation out of semis/hardware into networking equipment to benefit group valuation." Shares added 1.7% before the bell and looked poised to build on their 7% year-to-date gain. Malik lifted the firm's price target to $62 from $52 a share, reflecting about 15% upside fr...

SkyCity Adelaide could be liable for up to A$25.3m after High Court ruling

16Oct

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World News

SkyCity Adelaide could be liable for up to A$25.3m after High Court ruling

Photo: 123RF / Andrey Moisseyev The High Court of Australia has ruled against SkyCity Adelaide in a disagreement over the tax treatment of customer loyalty points used in its gaming machines. The decision on the long-running dispute with the Treasurer of South Australia means the points were gaming revenue and subject to a casino duty of about $14 million (A$13.1m as of 30 June), plus interest to be determined by a single judge of the Supreme Court of South Australia at a later date. "This is a long running matter involving highly technical tax issues regarding the calculation of casino duty," SkyCity chief executive Jason Walbridge said. The penalty could leave SkyCity Adelaide with a tax bill of as much as A$25.3m as of 30 September, with A$10.3 million already provided for in its 2024...

UAE can guarantee the ‘safety and the security’ of chips, G42 CEO says

16Oct

By Aditi PawarNo Comments

Business

UAE can guarantee the ‘safety and the security’ of chips, G42 CEO says

The CEO of the United Arab Emirates’ premier AI firm stressed that the Gulf country is a reliable partner to the U.S. when it comes to keeping sensitive technology safe, as Washington reportedly mulls curbs on chip sales to certain countries — particularly those in the Middle East.The UAE has shown it can “guarantee the safety and the security” of chips “if and when they are being deployed and used here,” Peng Xiao, CEO of UAE AI firm G42, told CNBC at a conference in Dubai on Tuesday.His comments come as the administration of President Joe Biden continues to weigh limits on chip sales from Nvidia and AMD to the Middle East, according to Bloomberg, over fears that American technology and intellectual property could end up in the hands of China.“I cannot read the mind of the U.S. policymake...

Ambivalent Australia awaits King Charles on first big overseas tour since cancer diagnosis

16Oct

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World News

Ambivalent Australia awaits King Charles on first big overseas tour since cancer diagnosis

King Charles Photo: Samir Hussein/WireImage Visit revives debate over whether a British royal should be Australia's head of state King is only British monarch who has spent time living in Australia Pro-republic campaigners promoting 'farewell to monarchy tour' King Charles, the only British monarch who has spent time living in Australia, arrives on Friday for his inaugural visit to an overseas realm as sovereign, his first major foreign trip since being diagnosed with cancer. The first visit by a reigning monarch in 13 years has revived debate in Australia over whether a British royal should be head of state, although polling shows Australians remain ambivalent about becoming a republic. Concern for King Charles's health has seen the republican movement's founder, "Schindler's Lis...

Hong Kong announces measures to address housing affordability crisis

16Oct

By Aditi PawarNo Comments

Business

Hong Kong announces measures to address housing affordability crisis

Hong Kong Chief Executive John Lee Ka-chiu delivers his annual policy address at the Legislative Council on October 16, 2024 in Hong Kong, China.China News Service | China News Service | Getty ImagesHong Kong chief executive John Lee announced moves aimed at addressing the city's housing affordability crisis, calling it "an issue of great public concern" in an annual policy address on Wednesday. One keynote policy announced in his speech will look to provide an easier path to subsidized housing for citizens under the age of 40 amid mounting concerns about their ability to get a foothold in the city's crowded housing market.Under the plan, the Hong Kong Housing Authority will allocate an extra ballot number to applicants aged below 40 — a move that will increase their chances of being selec...