Business
Elon Musk Visits Destroyed Kibbutz and Meets Netanyahu in Wake of Antisemitic Post
Elon Musk visited Israel on Monday, meeting with leaders and touring through a kibbutz destroyed by Hamas last month in an attempt to quell criticism over his support for an anti-Semitic remark on his social media platform, X.
Israeli Prime Minister Benjamin Netanyahu drove Musk to Kfar Azza, one of the kibbutzim targeted on October 7. Abigail Edan, a four-year-old American dual citizen kidnapped by the militant group that day and released the next day, lived on the kibbutz.
Musk agreed with Netanyahu in a live online conversation on X on Monday that Israel must eliminate Hamas.
“Those who intend to murder must be stopped. The propaganda must then cease,” Musk stated. “They’re just training people to be murderers.”
He also stated that Gaza must be “prosperous.”
“If (all) that happens, I think it will be a good future,” he said. “I’d love to help.”
Musk also met behind closed doors with Israeli President Isaac Herzog.
According to a readout from the meeting, Herzog pushed Musk to combat internet antisemitism.
“Unfortunately, we are inundated with antisemitism, which is hatred of Jews,” Herzog said in a statement. “I think we need to fight this together, because the platforms you lead, unfortunately, have a large reservoir of hatred, hatred of Jews, antisemitism.”
According to an earlier statement from the president’s office, representatives from the families of Hamas hostage families attended the meeting to express “the horrors of the Hamas terror attack, as well as the ongoing pain and uncertainty for those held captive.”
According to the Israeli government press office, Israeli officials recounted what had happened to Musk during the visit to the damaged kibbutz.
“The prime minister and Musk then proceeded to the Edan family home, where Musk heard about the family story of four-year-old Abigail Edan, whose parents were murdered and who was kidnapped to Gaza and released yesterday from Hamas captivity,” the office of the prime minister said.
The billionaire’s trip to Israel comes less than a week after he agreed with the notion that Jewish communities incite “hatred against Whites,” prompting a condemnation from the White House and a significant departure of advertisers from X, the platform formerly known as Twitter.
One user accused Jewish groups earlier this month in an X post of “pushing the exact kind of dialectical hatred against whites that they claim to want people to stop using against them.” The message allegedly alluded to “hordes of minorities” invading Western countries, a common antisemitic conspiracy theory.
Musk responded, “You have said the actual truth.”
Online hate organizations have promoted the antisemitic conspiracy idea that Jews intend to import illegal minority populations into Western countries to diminish the White majority in such countries.
Musk then stated in subsequent posts that he does not believe hatred of White people extends “to all Jewish communities.”
However, he claimed that the Anti-Defamation League (ADL), a global anti-antisemitism group, “unjustly attacks the majority of the West, despite the majority of the West supporting the Jewish people and Israel.” This is because, according to their own beliefs, they cannot attack the minority groups that constitute their major threat.”
The remarks, which coincide with an increase in hate crimes against Jews and Muslims in the United States, attracted rapid condemnation from human rights organizations and politicians.
Musk has also disputed racist accusations, writing on X last week that any assertions that he is antisemitic are “far from the truth.”
The problem is becoming too tough for X to ignore. The controversy has quickly developed into a serious business nightmare for the corporation, with at least a dozen large brands suspending advertising spending as of last Wednesday. Disney, IBM, Fox Sports, and even the European Commission are among them.
Elon Musk visited Israel on Monday, meeting with leaders and touring through a kibbutz destroyed by Hamas last month
Even before the present upheaval, X had been chastised for the abundance of antisemitic content on their network. Organizations like as the Anti-Defamation League (ADL) and the Center for Countering Digital Hate had documented a spike in hate speech on X in the previous year, which Musk either criticized or disputed.
Musk vowed to sue the ADL for defamation in September, alleging that the group’s reports had damaged advertising sales on X.
More recently, the organization has observed a significant spike in antisemitic posts on X, notably after the beginning of the Israel-Hamas war in early October.
X has responded to similar charges made by the progressive media watchdog Media Matters, which highlighted antisemitic and pro-Nazi content on X in a previous analysis.
In response, X has sued Media Matters, claiming that the organization overstated the likelihood of adverts running alongside extremist content on the platform. It has also asked its advertising partners to assist in defending what it refers to as “freedom of speech.”
Musk’s visit to Israel coincides with a cessation of hostilities with Hamas. In the first three days of a truce, Hamas released 58 captives, mostly women and children, in exchange for the release of 117 Palestinian prisoners and has stated that it intends to extend the truce.
Herzog spoke to CNN’s Wolf Blitzer on Sunday about the bittersweet sensation of seeing freed prisoners reunited with their families.
“It’s something that gives us happiness, but of course, happiness with a lot of sorrow in it because there are at least 200 hostages still held out there,” Herzog told CNN’s Wolf Blitzer.
Herzog said the truce may be prolonged, citing the initial agreement that a day of ceasefire would be added for every ten hostages released, but that it was up to Hamas to liberate more prisoners.
SOURCE – (CNN)
Business
Trudeau Accelerates Bond Selloff Over Mass Spending Fears
Prime Minister Justin Trudeau has accelerated bond selloffs, citing fears of a larger deficit over his GST giveaway. Investors were concerned he was returning to his free-spending strategy as an election loom.
On Thursday, Trudeau unveiled a C$6.3 billion ($4.5 billion) tax relief and rebate program. It includes a two-month moratorium on federal sales tax on various commodities such as Christmas trees, wine, toys, and books and a C$250 check for almost 19 million Canadians, or over half of the population.
The declaration looked to mark the end of a brief period of fiscal restraint, as Finance Minister Chrystia Freeland committed to contain budget deficits to prevent stoking inflationary pressures.
Now that inflation has returned to the Bank of Canada’s 2% target, policymakers have reduced the benchmark interest rate by 125 basis points since June.
Trudeau’s Liberal government sees an opportunity to dig deeper into the public purse, but some analysts believe investors are keeping a careful eye on the country’s debt.
Bonds continued to fall on Thursday following the announcement, as the 10-year benchmark yield rose 7 basis points to 3.457%. After retail data showed a rise in consumer spending on Friday, it increased by up to 3.488%.
As the Trudeau government considers additional fiscal spending, concerns about Canada’s financial situation persist.
Budget Shortfall
Freeland has yet to publish final spending and income figures for the fiscal year that ended in October. Parliamentary Budget Officer Yves Giroux predicts a deficit of C$46.8 billion, much exceeding Freeland’s self-imposed aim of a C$40 billion shortfall.
Despite promises to reduce deficits, the Trudeau government continues to increase expenditure. This year’s budget includes a new capital gains tax inclusion rate to balance the cost of new housing and social initiatives.
This sparked anger from investors and entrepreneurs but allowed Freeland to present a consistent deficit despite significant spending.
The recent declaration indicates that Trudeau’s government no longer feels restrained in its capacity to use economic stimulus to restore favor.
Pierre Poilievre’s Conservatives have led most surveys by roughly 20 points for over a year. They have pounded the prime minister on affordability and promised to reduce taxes, especially income taxes. An election is expected in late October 2025.
The sales tax break will run from December 14 to February 15. The left-wing New Democratic Party intends to support it but has stated that it will continue to advocate for its permanent implementation and expansion to include additional items.
Let the Bankers Worry
Following Trudeau’s announcement, traders in overnight swap markets reduced their bets that the Bank of Canada will drop interest rates by 50 basis points for the second time in December, lowering the odds to fewer than 25% by the end of Thursday. As of late Friday morning, the odds were less than 17%.
The announcement also encouraged several experts to improve their short-term projections for Canada’s GDP. Analysts at the Bank of Montreal predict that the country’s GDP will increase at a 2.5% annualized rate in the first three months of 2025, up from 1.7%.
Speaking to reporters on Friday, Trudeau praised his government’s approach to program expenditure, claiming it fosters optimism and possibilities for families and the middle class.
“We’re focusing on Canadians. “Let the bankers worry about the economy,” Trudeau stated.
Related:
Canada’s Budgetary Watchdog Warns Over Trudeau’s Spending
Business
Forced Sale Google Chrome Could Fetch $20 Billion
Antitrust officials in the US could force the sale of Google’s Chrome browser for up to $20 billion, demonstrating the tremendous worth of the world’s most popular web browser.
Bloomberg Intelligence attributes Chrome’s projected worth to its more than 3 billion monthly active users. The US Department of Justice is preparing to request a federal judge order the browser’s separation from Google’s parent company, Alphabet.
Chrome’s worth comes from its overwhelming 61% market share and its crucial role in Google’s advertising ecosystem. User data enables businesses to better target adverts, and the browser also acts as an important distribution mechanism for Google’s AI technologies.
Industry analysts think it may be difficult to find a suitable buyer. While tech behemoths like Amazon could finance the purchase, they would likely face regulatory scrutiny.
AI businesses, such as OpenAI, may emerge as more viable contenders. They could potentially leverage Chrome to broaden their reach and develop an advertising business.
“It’s not directly monetizable,” one analyst told Bloomberg. “It functions as a gateway to other things. It’s unclear how you would assess that in terms of pure revenue generation.”
Google opposes prospective sales, claiming that they will hamper innovation. The firm does not break out Chrome’s revenue individually in its financial filings, even though the browser’s user data plays an important part in the company’s principal revenue stream, advertising.
The DOJ’s suggestion follows Judge Amit Mehta’s August decision that Google had illegally monopolized the search industry. The judge will consider the recommended remedies at a two-week hearing in April 2024, with a final judgment due in August 2025.
Related News:
Appeals Court Delays Order For Google To Open Its App Store In Antitrust Case
Appeals Court Delays Order For Google To Open Its App Store In Antitrust Case
Business
Bitcoin Has Set a New Record And Is Approaching $100,000.
(VOR News) – Bitcoin broke beyond the $98,000 mark for the first time on Thursday as investors awaited Donald Trump’s second term as president. All of this happened during the day. As such, cryptocurrency has reached a significant turning point.
According to Coin Metrics, the top cryptocurrency was trading at $97,541.61 during the most recent trading session. Merchants provided this information. This suggests a price gain of more than three percent during the previous trading session.
When the period began, Bitcoin peaked at $98,367.00.
During the premarket trading session, MicroStrategy, a platform that facilitates cryptocurrency foreign exchange trading and serves as a bitcoin proxy, saw a 13% gain. Coinbase, on the other hand, had a 2% rise during that period. Furthermore, all of these increases occurred simultaneously.
The market value of Mara Holdings increased by 9%, which helped raise the valuation of mining companies overall. This was among the factors that led to the total rise.
Because of the widespread belief that President Trump will usher in a new era of prosperity for cryptocurrencies, one marked by more favorable laws and the possible creation of a national strategic bitcoin reserve, the price of Bitcoin has been rising steadily this month.
The most recent change brought about by the increase was the consequence of higher financing rates and more open interest in the futures market during Asian trading hours. The rise was the catalyst for this change. This action was prompted by the ensuing rush.
Throughout its lifespan, this legislation was the catalyst for this change for a variety of reasons. At the same time, spot market premiums decreased, according to CryptoQuant statistics. All of this happened at the same time.
Furthermore, a number of short liquidations have been sparked by the recent spikes in Bitcoin’s price, which has caused the price to rise overnight. As a result, the price has gone up much more. As a result, the total number of short liquidations has increased.
According to CoinGlass, these liquidations have effectively produced more than $88 million in capital during the last 24 hours.
Rob Ginsberg, an analyst at Wolfe Research, noted in a study released on Wednesday that “historically, following previous movements of this magnitude, Bitcoin has either entered a consolidation phase or disregarded the overbought condition as investors accumulate.” This phrase relates to the fact that this particular move has happened before.
Ginsberg stated this in reference to the evolution of Bitcoin over time.
Ginsberg’s answer makes reference to Bitcoin’s propensity to go through a period of consolidation. The comment also made reference to this.
He said, “Considering we are emerging from an extended consolidation phase and the price has reached a new high, it suggests that the pursuit is underway.”
The crucial psychological milestone of $100,000 is expected to be reached in the upcoming weeks, and this breakthrough could happen as early as Thursday. It seems likely that this level will be reached. There is a chance that this new development will take place.
This task will be carried out against the backdrop of this historical era. In addition, if Trump were to win a second term, federal budget deficits would increase, inflation would likely increase, and the dollar’s position in international affairs would change.
The administration that Trump would run during his presidency would be responsible for these consequences. All of these characteristics would positively impact the value of Bitcoin as a currency if they were taken into account in the order that they are presented.
The price of bitcoin had risen by more than 130% by the beginning of 2024.
SOUREC: CNBC
SEE ALSO:
PayPal’s Technical Challenges Are Affecting Thousands Of Customers Globally.
NVIDIA’s Earnings: The Leader In AI Chips Demonstrates Relentless Growth.
-
Politics2 weeks ago
Trudeau Orders Facebook to Block Australian Presser Video
-
Business4 weeks ago
Canada CBC News CEO Catherine Tait Recalled to Parliamentary Committee
-
Celebrity4 weeks ago
Shaun White’s Proposal To Nina Dobrev Was Romantic Gold
-
Tech4 weeks ago
Apple Launches The IPhone Into The AI Era With Free Software Update
-
News3 weeks ago
Pro-Khalistanis Sikhs Attack Hindu Temple in Brampton
-
Food4 weeks ago
Starbucks Is Making A Popular Add-On Free Of Charge