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Sen. Menendez will reportedly resign on Aug. 20 None - Sen. Bob Menendez, D-N.J., will reportedly resign from Congress on Aug. 20 after being convicted on federal corruption charges. NBC News’ Tom Winter reports on what’s next for the Senate seat in New Jersey.July 23, 2024
Watch live: Harris holds campaign rally in Wisconsin None - Harris holds campaign rally in Wisconsin as she earns delegate support Watch live coverage as Vice President Kamala Harris holds a campaign rally in Wisconsin. Harris is continuing to grow her 2024 campaign as Democratic delegates pledge their support.July 23, 2024
US home sales fell in June to slowest pace since December None - Sales of previously occupied U.S. homes fell in June for the fourth straight month as elevated mortgage rates and record-high prices kept many would-be homebuyers on the sidelines LOS ANGELES -- The nation's housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday. Existing home sales were also down 5.4% compared with June of last year. The latest sales came in below the 3.99 million annual pace economists were expecting, according to FactSet. Despite the pullback in sales, home prices climbed compared with a year earlier for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high with records going back to 1999. Home prices rose even as sales slowed and the supply of properties on the market climbed to its highest level since May 2020. “Right now we’re seeing increased inventory, but we’re not seeing increased sales yet,” said Lawrence Yun, the NAR’s chief economist. All told, there were about 1.32 million unsold homes at the end of last month, an increase of 3.1% from May and up 23% from June last year, NAR said. That translates to a 4.1-month supply at the current sales pace. Traditionally, a 4- to 5-month supply is considered a balanced market between buyers and sellers. While still below pre-pandemic levels, the recent increase in homes for sale suggests that, despite record-high home prices, the housing market may be tipping in favor of homebuyers. “The latest data is implying that maybe we’re seeing a slow shift away from what had been a sellers’ market and slowly moving into a buyers’ market,” Yun said. For now, sellers are still benefiting from a tight housing market inventory. Homebuyers snapped up homes last month typically within just 22 days after the properties hit the market. That's up from 18 days in June last year. And 29% of those properties sold for more than their original list price, which typically means sellers received offers from multiple home shoppers. The U.S. housing market has been mired in a slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. Existing home sales sank to a nearly 30-year low last year as the average rate on a 30-year mortgage surged to a 23-year high of 7.79%, according to mortgage buyer Freddie Mac. The average rate has mostly hovered around 7% this year — more than double what it was just three years ago —- as stronger-than-expected reports on the economy and inflation have forced the Federal Reserve to keep its short-term rate at the highest level in more than 20 years. One reason home sales have kept declining this year even as the inventory of properties on the market has increased is that many Americans may be holding out for mortgage rates to come down. Mortgage rates are influenced by several factors, including how the bond market reacts to the central bank’s interest rate policy decisions. That can move the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans. Recent signs of cooling inflation have raised expectations that the Federal Reserve will cut its benchmark rate in September. If bond yields decline in anticipation of a Fed rate cut, that could lead mortgage rates to ease. Most economists expect the average rate on a 30-year home loan to remain above 6% this year. “Maybe people are waiting for interest rates to be lower before getting back into the market,” Yun said. Lower mortgage rates could also help spur more homeowners to sell. Many who bought or refinanced a home more than three years ago are reluctant to sell now because they don’t want to give up their fixed-rate mortgages below 3% or 4% — a trend real estate experts refer to as the “lock-in” effect. First-time homebuyers who don’t have any home equity to put toward their down payment continue to have a tough time getting into the housing market. They accounted for 29% of all homes sold last month, which is down from 31% in May, but up from 27% in June last year. They’ve accounted for 40% of sales historically. Homebuyers who can afford to sidestep mortgage rates and pay all cash for a home accounted for 28% of sales last month, up from 26% in June last year. And about 16% of homes sold last month were bought by individual investors or homeowners looking to buy a second home, down from 18% a year earlier, NAR said.
Google makes abrupt U-turn by dropping plan to remove ad-tracking cookies on Chrome browser None - Google is dropping plans to eliminate cookies from its Chrome web browser, making a sudden U-turn on four years of work to phase out the technology that tracks users for ad purposes LONDON -- Google is dropping plans to eliminate cookies from its Chrome web browser, making a sudden U-turn on four years of work to phase out a technology that helps businesses tracks users online. The company had been working on retiring third-party cookies, which are snippets of code that log user information, as part of an effort to overhaul user privacy options on Chrome. But the proposal, also known as Privacy Sandbox, had instilled fears in the online advertising industry that any replacement technology would leave even less room for online ad rivals. In a blog post on Monday, Google said it decided to abandon the plan after considering the impact of the changes on publishers, advertisers and “everyone involved in online advertising.” The U.K.'s primary competition regulator, which has been involved in oversight of the Privacy Sandbox project, said Google will, instead, give users the option to block or allow third-party cookies on the browser. Google will “introduce a new experience in Chrome that lets people make an informed choice that applies across their web browsing, and they’d be able to adjust that choice at any time,” Anthony Chavez, vice president of Privacy Sandbox, said in the post. “We’re discussing this new path with regulators, and will engage with the industry as we roll this out.” Advertisers use cookies to target ads to web users but privacy campaigners say they can be used to track users across the internet. Google first proposed scrapping cookies in 2020, but the deadline for finishing the work had slipped a few times. Chrome is the world’s dominant web browser, and many others like Microsoft’s Edge are based on the company's Chromium technology.
As hurricane season begins, here's how small businesses can prepare in advance of a storm None - The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July NEW YORK -- The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July, surprising many business owners accustomed to seeing big storms arrive later in the summer. With the National Oceanic and Atmospheric Administration predicting an above-average storm season this year, small businesses need to be prepared. Small businesses in Texas had to not only deal with physical damage from Beryl but also a dayslong power outage. For some, the lack of electricity meant the loss of some or all of their inventory. There are steps small businesses should take to make sure they’re ready for storms and insured for storm damage. Well before a hurricane is announced, check and double check your insurance policy. Many policies don't include flood insurance, which must be purchased separately. Read your policy closely and identify any added protections you might need. Make sure your business data is regularly backed up and can be accessed off site, should an emergency arise. Have an emergency communication plan in place and be sure your staffers know how to reach you in case of an emergency — as well as vice versa. Photograph or record as many assets as you can. That makes it easier to assess any damage that occurs after the storm. Once a hurricane is imminent, secure any outdoor equipment you may have, board up windows if necessary, and know your evacuation plan should an official evacuation order be implemented. After a hurricane, if your business is in a federally declared disaster area, aid may be available from the Small Business Administration. Details can be found at: www.sba.gov/funding-programs/disaster-assistance. More information about hurricane preparedness can be found at ready.gov.
Your flight was canceled by the technology outage. What do you do next? None - Thousands of flights have been canceled after a worldwide internet outage hit many leading airlines, forcing passengers to scramble to save their vacations and other trips Your flight was canceled by the technology outage. What do you do next? Air travelers became the face of the widespread technology outage Friday as they posted pictures on social media of crowds of people stranded at airports in Europe and the United States. In the U.S., American Airlines, Delta Air Lines, United Airlines, Spirit Airlines and Allegiant Air had all their flights grounded for varying lengths of time. Airlines said the outage affected many systems, including those used to check in passengers, calculate aircraft weight and communicate with crews in the air. United, American and Delta issued waivers to let customers change travel plans. By early evening on the East Coast, nearly 2,800 U.S. flights had been canceled and almost 10,000 others delayed, according to tracking platform FlightAware. Worldwide, about 4,400 flights were canceled. Delta and its regional affiliates had canceled 1,300 flights, or more than one-fourth of their schedule, according to aviation-data firm Cirium. United and United Express canceled more than 550 flights, 13% of their schedule, and American Airlines’ network canceled more than 450 flights, 8% of its schedule. The outage, which began overnight, was blamed on a software update that cybersecurity firm CrowdStrike sent to Microsoft computers of its corporate customers, including many airlines. CrowdStrike said it identified the problem and was fixing it, but the damage had been done: Hundreds of thousands of travelers were stranded. “This is going to have ripple effects for probably a few days at least,” said Jesse Neugarten, the founder and CEO of travel-search site Dollar Flight Club. That’s because many flights are sold out or have just a few empty seats during the peak summer vacation season, which leaves airlines with less room to accommodate passengers from canceled flights. The Transportation Security Administration screened nearly 2.96 million travelers at U.S. airports on Thursday, the third-biggest day in TSA’s history, and Fridays are usually busier than Thursdays. Here are suggestions for people experiencing flight problems. Airlines should rebook passengers automatically, but that could take much longer as carriers recover from the outage, so passengers will have to take more initiative. And be more creative. “People who are already at the airport usually go up to the help desk, but there’s a line of 500 people. It’s going to take all day,” Neugarten said. He suggested calling the airline and using an international help-desk number, if there is one, to reach an agent more quickly. Another tactic is to post a few words to the airline on the social platform X. Many airlines have staffers who will help rebook passengers who contact the carrier through social media. Use your airline’s app — it may have more-current information about flight status than delays and cancellations displayed in the airport terminal. In the U.S., Southwest and Alaska Airlines said they were not affected by the outage. However, since it’s summer vacation season, those airlines have a limited number of available seats left. Neugarten suggested checking nearby airports for available flights, which might require changing airlines. Long delays and some cancellations could drag into Saturday and Sunday. Check the flight status on your airline’s app or website frequently. Some airlines are telling passengers to arrive as much as three hours before their scheduled departure times. Many experienced travelers scoff at such warnings; this might be a good time to take them seriously. The TSA app lets travelers look up the estimated wait time at their airport. U.S. Transportation Secretary Pete Buttigieg said the Federal Aviation Administration’s systems, including air traffic control, were not affected by the outage. TSA said its screening of passengers was not affected either. Passengers whose flights are canceled are entitled to a full refund in the form of payment they used to buy the ticket. That’s true even if the ticket was sold as non-refundable. A refund may be acceptable to travelers who no longer want to make the trip, but many people just want another way to reach their destination, and buying a last-minute replacement ticket could cost more than the refund will cover. Airports in Amsterdam, Berlin and Zurich had particularly high numbers of canceled flights. When airlines in Europe are responsible for a cancellation or delay, travelers are entitled to compensation under a regulation known as EU261, but that rule has an exception for disruptions caused by “extraordinary circumstances” beyond the airline’s control. There is no similar provision for compensation under U.S. law, and airlines set their own policies for reimbursing stranded travelers for things like hotels and meals. However, the Transportation Department appears to be taking the view that the cancellations and delays were within the airlines’ control, and it is pressuring carriers to cover passengers’ costs. “We have reminded the airlines of their responsibilities to take care of passengers if they experience major delays,” Buttigieg said. Trade group Airlines for America said carriers hit by the outage were offering rebooking, vouchers, refunds and other help “during this regrettable situation outside of the airlines’ control.” The Transportation Department fined Southwest $35 million last year as part of a $140 million settlement to resolve an investigation into nearly 17,000 canceled flights in December 2022. The department maintains a “dashboard” showing what each airline promises to cover during travel disruptions.
Coca-Cola raises full-year sales guidance after stronger-than-expected second quarter None - Coca-Cola is raising its full-year sales guidance after a stronger-than-expected second quarter boosted by continued price increases. The Atlanta beverage giant said Tuesday it now expects organic sales to grow between 9% and 10% this year, up from 8% to 9% previously. One standout was Coca-Cola Zero Sugar, which saw a 20% jump in global volume sales. Revenue rose 3% to $12.4 billion for the April-June period. That was higher than Wall Street anticipated. Analysts polled by FactSet were expecting revenue of $11.8 billion. Coke, which hiked prices 13% in the first quarter, raised them 9% in the April-June period. The company said that was partly due to hyperinflation in some markets, including Argentina and Nigeria. Coke has raised prices every quarter since the end of 2020. Coca-Cola Chairman and CEO James Quincey defended the price hikes. In North America, where Coke's prices rose 11%, about half of the increase was due to sales of more expensive beverages like Topo Chico mineral water and Fairlife milk, Quincey said. The other half was due to straight price hikes. “We still have input costs that are going up, typically the agricultural ones rather than the metal or commodity-based ones, but in the end, our strategy remains," Quincey said. "Yes, there’ll be cost inflation. Yes, we’ll look to put it through.” But price increases appear to be hurting demand at home, where North American unit case volume sales fell 1%. Coke saw lower North American demand for water, sports drinks, sparkling sodas, coffee, tea and its trademark Coca-Cola beverages. Quincey said the company saw some softness in away-from-home demand at places like restaurants and movie theaters. That's been a trend since the second half of last year, he said. “Really, it’s been kind of a slow softening rather than anything major and abrupt," he said. Consumer demand overall has been resilient, the CEO added, but “there's a piece of the lower-income consumers who are either going out slightly less or when they do go out, they're looking for greater value through combo meals.” Quincey said Coke is working with restaurant partners to ensure beverages are included in their combos. For example, McDonald's launched a $5 meal deal in late June that includes a small Coke beverage or other drink. In the Asia Pacific region, where Coke lowered prices 3%, unit case volume sales rose 3%. Unit case volumes were up 5% in Latin America and flat in Europe, the Middle East and Africa. Coca-Cola's net income fell 5% to $2.4 billion, or 56 cents per share. Adjusted for one-time items, including currency fluctuations, Coke earned 84 cents per share. That also beat Wall Street’s forecast of 81 cents. Shares of The Coca-Cola Co. rose less than 1% in morning trading. Coke's results were a contrast with rival PepsiCo, which tightened its full-year organic revenue guidance earlier this month after posting weaker-than-expected revenue in the second quarter. But unlike Coke, PepsiCo sells snack foods like Frito-Lay chips. Demand for those products has begun to fall after several years of price increases.
Internet is still down in Bangladesh despite apparent calm following deadly protests None - Bangladesh is still without internet for a fifth day and the government declared a public holiday Monday, as authorities maintained tight control despite apparent calm following a court order that scaled back a controversial system for allocating gover... DHAKA, Bangladesh -- Bangladesh remained without internet for a fifth day and the government declared a public holiday Monday, as authorities maintained tight control despite apparent calm following a court order that scaled back a controversial system for allocating government jobs that sparked violent protests. This comes after a curfew with a shoot-on-sight order was installed days earlier and military personnel could be seen patrolling the capital and other areas. The South Asian country witnessed clashes between the police and mainly student protesters demanding an end to a quota that reserved 30% of government jobs for relatives of veterans who fought in Bangladesh’s war of independence in 1971. The violence has killed more than a hundred people, according to at least four local newspapers. Authorities have not so far shared official figures for deaths. There was no immediate violence reported on Monday morning after the Supreme Court ordered, the day before, the veterans’ quota to be cut to 5%. Thus, 93% of civil service jobs will be merit-based while the remaining 2% reserved for members of ethnic minorities as well as transgender and disabled people. On Sunday night, some student protesters urged the government to restore internet services. Hasnat Abdullah, a coordinator of the Anti-Discrimination Student Movement, told the Associated Press that they were withdrawing their calls for a complete shutdown, which they attempted to impose last week. “But we are issuing an ultimatum for 48 hours to stop the digital crackdown and restore internet connectivity,” he said, adding that security officials deployed at various universities should be withdrawn, student dormitories reopened and steps taken so students can return to their campuses safely. Abdullah also said they wanted the government to end the curfew and ensure the country was back to normal within two days. Students have also demanded some university officials to step down after failing to protect campuses. Sarjis Alam, another coordinator of the Anti-Discrimination Student Movement, said that they would continue with their protests if all their demands weren't met. “We cannot step back from our movement like a coward,” he added. Another key organizer of the student protests, Nahid Islam, told reporters that the internet shutdown had disrupted their ability to communicate and alleged that authorities were trying to create divisions among protesters. “I am mentally traumatized ... our unity is being destroyed,” he said. The US Embassy in the capital Dhaka described Sunday the situation as “extremely volatile” and “unpredictable,” adding that guns, tear gas and other weapons have been used in the vicinity of the embassy. They said the Bangladeshi army had been deployed and urged Americans to be vigilant, avoid large crowds and reconsider travel plans. The protests have posed the most serious challenge to Bangladesh’s government since Prime Minister Sheikh Hasina won a fourth consecutive term in January elections that the main opposition groups boycotted. Universities have been closed, the internet has been shut off and the government has ordered people to stay at home. Protesters had argued the quota system was discriminatory and benefited supporters of Hasina, whose Awami League party led the independence movement, and wanted it replaced by a merit-based system. Hasina has defended the quota system, saying that veterans deserve the highest respect regardless of political affiliation. The main opposition Bangladesh Nationalist Party has backed the protests, vowing to organize its own demonstrations as many of its supporters joined the student-led protests. The Awami League and the BNP have often accused each other of fueling political chaos and violence, most recently ahead of the country’s national election, which was marred by a crackdown on several opposition figures.
Meta takes down thousands of Facebook, Instagram accounts running sextortion scams from Nigeria None - Meta said Wednesday that it has taken down about 63,000 Instagram accounts in Nigeria running sexual extortion scams and has removed thousands of Facebook groups and pages that were trying to organize, recruit and train new scammers. Sexual extortion, or sextortion, involves persuading a person to send explicit photos online and then threatening to make the images public unless the victim pays money or engages in sexual favors. Recent high-profile cases include two Nigerian brothers who pleaded guilty to sexually extorting teen boys and young men in Michigan, including one who took his own life, and a Virginia sheriff’s deputy who sexually extorted and kidnapped a 15-year-old girl. There has been a marked rise in sextortion cases in recent years, fueled in part by a loosely organized group called the Yahoo Boys, operating mainly out of Nigeria, Meta said. It added that it applied its “dangerous organizations and individuals” policy to remove Facebook accounts and groups run by the group. “Because they’re driven by money, they’re targeting can be indiscriminate," said Antigone Davis, Meta's global head of safety. “So in other words, think of this as a little bit of a scattershot approach: get out there and send many, many, requests out to individuals and see who may who may respond.” In January, the FBI warned of a “huge increase” in sextortion cases targeting children. The targeted victims are primarily boys between the ages of 14 to 17, but the FBI said any child can become a victim. Meta said its investigation found that the majority of the scammers' attempts did not succeed and mostly targeted adult men in the U.S., but added that it did see “some” try to target minors, which Meta says it reported to the National Center for Missing and Exploited Children. The removed accounts included a “coordinated network” of about 2,500 accounts linked to a group of about 20 people who were running them, Meta said. In April, Meta announced it was deploying new tools in Instagram to protect young people and combat sexual extortion, including a feature that will automatically blur nudity in direct messages. Meta is still testing out the features as part of its campaign to fight sexual scams and other forms of “image abuse,” and to make it tougher for criminals to contact teens. Davis said users should look out for messages from people with “highly stylized" photos, people who are “exceptionally good looking” or have never sent you a message before. “That should give you pause,” she said. Users should also take a pause if somebody sends an image first — scammers often use this tactic to try to gain trust and bait unsuspecting people into sending them back a photo of themselves. “This is one of the one of these areas where if you have any sort of suspicion, I would urge caution,” she said.
Thousands of homeowners could face foreclosure over "zombie" mortgages. Here's what to know None - Thousands of homeowners could face foreclosure over "zombie" mortgages. Here's what to know Potentially tens of thousands of homeowners are suddenly facing possible foreclosure, after making mortgage payments on time for years. Many "zombie" mortgages date back to the 2008 financial crisis. Consumer advocates warn a new wave of "zombies" could be on the horizon, this time from the home equity lines of credit taken out during the pandemic.
'How far away was Oswald from Kennedy': Trump shooter searched for JFK assassination None - 'How far away was Oswald from Kennedy': Trump shooter searched for JFK assassination According to testimony by FBI Director Christopher Wray, the gunman who attempted to assassinate former President Donald Trump searched for information about the JFK assassination, at one point Googling, "how far away was Oswald from Kennedy."July 24, 2024
A plane with 19 people on board slips off the runway and crashes at Nepal airport None - A plane has crashed just after taking off from Nepal’s capital, killing 18 people and injuring a pilot who was the lone survivor A plane with 19 people on board slips off the runway and crashes at Nepal airport KATHMANDU, Nepal -- A plane crashed Wednesday just after taking off from Nepal’s capital, killing 18 people and injuring a pilot who was the lone survivor. All the people aboard the Saurya Airlines flight including the co-pilot were Nepali except for one passenger, who was a Yemeni national, the Civil Aviation Authority of Nepal said. Authorities have pulled all 18 bodies from the wreckage, police official Basanta Rajauri said. The Bombardier CRJ 200 plane was heading to Nepal's second-most populous city of Pokhara for maintenance work and most of the passengers aboard were either mechanics or airline employees, airport officials said. They were speaking on condition of anonymity because they were not authorized to speak to reporters. The pilot has injuries to his eyes but his life is not in any danger, said a doctor at Kathmandu Medical College Hospital, where the pilot is being treated. The doctor spoke on condition of anonymity because she was not authorized to speak to reporters. The plane took off from the Kathmandu airport at 11:11 a.m. local time and turned right but crashed moments later in the eastern section of the airport, the Civil Aviation Authority said in a statement. “I came out and saw a plane had crashed and there was huge smoke and fire coming out," said Ram Kumar Khatri Chetri, who own a car parts store barely 100 meters (330 feet) from the crash site. "There was chaos and confusion.” “It was just horrible and there was no way that anyone could just go near the plane and help out when there was so much fire and even explosions,” he said. It is the monsoon rain season in Kathmandu but was not raining at the time of the crash. Visibility was low across the capital, however. The Kathmandu airport, the main airport serving Nepal, is inside a valley surrounded by mountains that make takeoffs and landings challenging for pilots. The airport is right next to the city, and is surrounded by houses and neighborhoods. The bodies have been taken to the T.U. Teaching Hospital in Kathmandu for autopsy. The airline manifest showed there were two pilots and 17 passengers on board. Grieving relatives gathered at the hospital forensics department to collect the bodies of their loved ones, though they are not likely to be released for a day or two. The co-pilot Sasant Katuwal had been flying only for the past three years after completing training in France, his uncle Dhyan Bahadur Khadka said at the hospital. He had just received a visa to go to Germany for further training and was excited about that, Khadka said. Khadka said his nephew had a bright future in aviation. “His parents are grieving the loss of their only child," Khadka said. “He was unmarried. He was not just tall and handsome, but he was well behaved,” Tribhuvan International Airport, the main airport in Nepal for international and domestic flights, was closed for hours as emergency crew and investigators began their work. Saurya Airlines operates the Bombardier CRJ 200 on domestic routes. In 2019, a Bangladeshi airliner crashed at Tribhuvan airport, killing 51 people while 20 on board survived. An investigation confirmed the plane was misaligned with the runway and its pilot was disoriented and tried to land in “sheer desperation” when the plane crashed. In 2015, a Turkish Airlines jet landing in dense fog skidded off a slippery runway at the airport. The plane was carrying 238 people but there were no serious injuries.
Farmers in Africa say their soil is dying and chemical fertilizers are in part to blame None - Farmers in Africa are blaming chemical fertilizers for increasingly acidic soils that have led to production decline Farmers in Africa say their soil is dying and chemical fertilizers are in part to blame NAIROBI, Kenya -- When Benson Wanjala started farming in his western Kenya village two and a half decades ago, his 10-acre farm could produce a bountiful harvest of 200 bags of maize. That has dwindled to 30. He says his once fertile soil has become a nearly lifeless field that no longer earns him a living. Like many other farmers, he blames acidifying fertilizers pushed in Kenya and other African countries in recent years. He said he started using the fertilizers to boost his yield and it worked — until it didn't. Kenya's government first introduced a fertilizer subsidy in 2008, making chemical fertilizers more accessible for smaller-scale farmers. About 63% of arable land in Kenya is now acidic, according to the agriculture ministry, which has been recording a decline in production of staples such as maize and leading exports of horticulture and tea. The production of maize declined by 4% to 44 million tons in 2022, according to the Food and Agriculture Organization, which didn't say why. The agriculture ministry didn't respond to questions, especially after a scandal over fake fertilizer in April. The fertilizer was found to be quarry dirt in misleadingly labelled bags that were distributed to farmers through a national subsidy program. President William Ruto said about 7,000 farmers bought the fake fertilizer and would be compensated with the correct product. Problems with soil health are growing as the African continent struggles to feed itself. Africa has 65% of the world’s remaining uncultivated arable land but has spent about $60 billion annually to import food, according to the African Development Bank. The spending is estimated to jump to $110 billion by 2025 due to increased demand and changing consumption habits. In May, Kenya hosted an Africa-wide soil health summit to discuss declining production, climate change and other issues that have increased food security concerns. Agriculture is a key part of the economy in Kenya, making up more than a quarter of the GDP. At the summit, Stephen Muchiri, executive director of the Eastern Africa Farmers Federation, advocated for a return to traditional farming practices to replenish lifeless soils, including planting a variety of crops and doing as little as possible to disturb the land. “Inorganic fertilizers were never meant to be the foundation of crop production," he said, later adding that because of "commercially inclined farming, our soils are now poor, acidic, and low in biomass resources, and without life!” He said farmers should rotate crops on their land and source compost material from livestock such as goats: “There must be some kind of transition and adaptation for our soils to revert back to fertility." Experts say soil acidity causes land degradation by decreasing the availability of plant and essential nutrients, making soil more vulnerable to structure decline and erosion. The program coordinator for the Alliance for Food Sovereignty in Africa, Bridget Mugambe, advised the phasing out of chemical fertilizers. “Soil health goes beyond the quick fixes provided by chemical fertilizers. In fact, chemical fertilizers have extensively damaged our soils in Africa. We need to think of our soils in a more holistic way," she said. The soil health summit by the African Union — which in 2006 recommended that members use more chemical fertilizers — adopted a 10-year plan that calls for increased investment to produce both organic and chemical fertilizers locally and triple their use for increased production. During the summit, AU commissioner for agriculture Josefa Leonel Correia Sacko asserted that the continent was “losing over $4 billion worth of soil nutrients each year." Kenya heavily relies on imported fertilizer due to low local production. The main supplier is the European Union, followed by Saudi Arabia and Russia. The Alliance for a Green Revolution in Africa's Kenya manager, John Macharia, said Kenya's recent fertilizer scandal should not discourage farmers. “It’s still imperative that we are able to work with the government to actually ensure that we have the right fertilizers coming to our stores,” Macharia said. He recommended both chemical and organic ones as long as they address the specific issue in the soil, and said soil analysis would guide farmers. Declining soil quality is a food security concern across Africa. In Zimbabwe, once a regional breadbasket, about 70% of soils are acidic, according to the government. The government in the past introduced chemical fertilizers in an attempt to strengthen soils, but wrong usage caused a decline in organic matter. “Before the introduction of mineral fertilizers, our forefathers had the knowledge and understanding that if you add organic manure, the soil becomes fertile, and crops perform better," said Wonder Ngezimana, a crop science associate professor at Zimbabwe’s Marondera University of Agricultural Sciences and Technology. “That has been a traditional norm in Zimbabwe and elsewhere in Africa where people scavenge for any kind of organic matter to add to the soil.” That includes animal manure, grass, leaves and twigs, crop residue, ash and compost. But many farmers in Zimbabwe no longer have cattle because of recent drought, Ngezimana said: “Farmers are struggling to maintain soil health because they can’t generate enough quantities of organic matter.” AGRA recommended that farmers test their soil's acidity and apply lime to reverse high acidity. But farmers say both are limited and costly. Soil testing services are available in government agricultural agencies, public universities and private organizations at prices ranging from $20 to $40. Wanjala, the farmer, said he cannot even find the money cattle for manure, and barely for seeds. “I cannot afford more expenses,” he said. ___ Farai Mutsaka in Harare, Zimbabwe contributed to this report. ___ For more on Africa and development: https://apnews.com/hub/africa-pulse ___ The Associated Press receives financial support for global health and development coverage in Africa from the Bill & Melinda Gates Foundation Trust. The AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
Under President Milei, the worst economic crisis in decades puts Argentine ingenuity to the test None - The political establishment’s failure to fix decades of crisis in Argentina explains the tide of popular rage that vaulted the irascible Javier Milei, a self-declared “anarcho-capitalist,” to the presidency Under President Milei, the worst economic crisis in decades puts Argentine ingenuity to the test BUENOS AIRES, Argentina -- In the crush of anti-government protests paralyzing downtown Buenos Aires in the last months, some Argentines saw a traffic-induced headache. Others saw a reaction to President Javier Milei's brutal austerity measures. Alejandra, a street vendor, saw people with nowhere to urinate. Plazas provided no privacy and cafes insisted on pricey purchases to use the toilet. With little more than a tent and a bucket, Alejandra started a small business that has surged alongside Argentina’s angry rallies and sky-high inflation rate. She charges whatever people are willing to pay. “I haven't had a job for a year, it's now my sole income,” said Alejandra, who declined to give her last name for fear of reprisals from neighbors. Every four or five patrons, she puts on gloves and empties her bucket into the trash. The political establishment’s failure to fix decades of crisis in Argentina explains the tide of popular rage that vaulted the irascible Javier Milei, a self-declared “anarcho-capitalist," to the presidency. But it also explains the emergence of a unique society that runs on grit, ingenuity and opportunism — perhaps now more than ever as Argentina undergoes its worst economic crisis since its catastrophic foreign-debt default of 2001. “It's the famous resilience of Argentines," said Gustavo González, a sociologist at University of Buenos Aires. “It's the result of more than three generations that have grappled with adverse circumstances, great uncertainty and abrupt changes.” The libertarian leader warned that things would get worse before they got better. To reverse the decades of reckless spending that brought Argentina infamy for defaulting on its debts, Milei scrapped hundreds of price controls. He slashed subsidies for electricity, fuel and transportation, causing prices to skyrocket in a country that already had one of the world's highest inflation rates. He laid off over 70,000 public sector workers, cut pensions by 30% and froze infrastructure projects, pushing the country deeper into recession. Supermarket sales fell 10% last month. The International Monetary Fund lowered its 2024 growth outlook for Argentina, projecting a 3.5% contraction. Poverty now afflicts a staggering 57% of Argentina’s 47 million people, and annual inflation surpasses 270% — a level unseen in a generation. “Argentina is at a turning point,” Milei said in his Independence Day speech on July 9. “Breaking points in the history of a nation are not moments of peace and tranquility but moments of difficulty and conflict.” Well-heeled Argentines have responded by stashing stacks of $100 bills in safe-deposit boxes and resorting to cryptocurrency to avoid their country's chronically depreciating pesos. Middle-class families — whose energy bills shot up last month by 155% — have pared down comforts they once took for granted: No more eating out. No more travel. No more private school. Public hospitals say they're overwhelmed. In a country where barbecued beef, or asado, is not only a national dish but a social ritual, meat consumption has dropped to the lowest level ever recorded, according to the Rosario Board of Trade. The crisis has hit the poor hardest. “They cannot hedge," said Eduardo Levy Yeyati, an economist at Torcuato Di Tella University in Buenos Aires. “They cannot save, they cannot travel. They are stuck here and are most affected by inflation and the fiscal adjustment.” In the last five months, the official unemployment rate jumped two points to 7.7%, a figure that appears far lower than it really is, experts say, because Argentina's underground economy accounts for some half of its gross domestic product. Rising joblessness and poverty have forced even more Argentines into the informal workforce. “Those who cannot find a job must invent one,” said Eduardo Donza, a poverty researcher at the Catholic University of Argentina. For 34-year-old Armando Fernández, a broom has become a tool of survival. Last month Fernández trekked hundreds of kilometers south by foot from his impoverished hometown in Santa Fe province, seeking work in Buenos Aires. Now he sweeps the capital’s sidewalks for whatever pesos that shop owners toss his way. As Milei takes his chainsaw to the state’s anti-poverty programs, the poorest Argentines don’t have the coping mechanisms they once did. “Politicians talk a lot but do nothing," Fernández said, scarfing down chicken stew provided by Solidarity Network, a charity born out of Argentina's successive crises. “I survive thanks to these soup kitchens, these people who offer me a bit of food.” Seven days a week at nightfall, hundreds of people line up for free meals in the capital’s downtown square outside the presidential palace, which Solidarity Network turns into an open-air dining hall. “We are serving more and more people every night,” said 31-year-old volunteer Pilar Cristiansen. “There are more and more people who cannot afford to buy food." In line on a recent evening were homeless men like Fernández, but also newcomers — a chef whose work had dried up, a bank employee who was recently laid off, an electrician whose salary had lost the bulk of its value. Argentina's downward spiral has long been visible in the southern suburbs ringing Buenos Aires. Streets are unpaved. Sewer lines don't reach. The walls of Noelia López's home are covered in haphazard patches of concrete. From an attic spangled with laundry lines, López and her 21-year-old son Patricio run the only laundromat in their urban slum. By dawn their floor is shaking with the rumble of washing machines as they sort coats and quilts for some dozen neighbors a day. What started as an impromptu income boost during the pandemic has become their livelihood. “There is no greater thing than being able to recognize that this country is just like this,” López’s said of Argentina's volatility. “Now we have to bite the bullet once again.” Growing up destitute as the daughter of Paraguayan immigrants in Buenos Aires, Maybel Delvalle was determined that her own children avoid the same fate. She soon found herself a single mom with two hungry toddlers and realized that selling empanadas wouldn’t cover her bills. Today the 25-year-old is a successful content creator on the platform OnlyFans, where she sells sexual fantasies to subscribers around the world and promotes her bootstraps story to legions of like-minded women. Her monthly income of $6,000 would be unthinkable for any Argentine doctor, lawyer or professor. The work wasn't easy. Few had heard of the platform in 2020 when Delvalle stumbled across it. She had to teach herself how to stay anonymous and safe while posting explicit content, convert her dollar income to pesos at a favorable exchange rate and speak enough English to act as a "virtual girlfriend” to U.S.-based subscribers. Once she got her windfall, she became Argentina's premier OnlyFans teacher. Delvalle is scrambling to keep pace with demand for her classes. “It’s been amazing,” she said of the past seven months since Milei took office. Some 5,000 female students, 4,000 of them from Argentina, have enrolled in her trainings as they try to claw their way out of their country’s deepening poverty. “There won't be a miracle to get us through this," she said. “You have to trust yourself more than anybody else." ___ Associated Press writer Natacha Pisarenko contributed to this report.
Japan protests against Russia's entry ban on 13 mostly business leaders over sanctions None - Japan’s government says it has protested against Russia’s announcement that it is permanently banning 13 Japanese citizens, mostly business leaders of prominent companies including Toyota Motor Corp., in retaliation for Tokyo’s sanctions over the Russi... Japan protests against Russia's entry ban on 13 mostly business leaders over sanctions TOKYO -- Japan's government said Wednesday it has protested against Russia's announcement that it is permanently banning 13 Japanese citizens, mostly business leaders of prominent companies including Toyota Motor Corp., in retaliation for Tokyo's sanctions over the Russian invasion of Ukraine. Chief Cabinet Secretary Yoshimasa Hayashi said the ban “limits Japanese companies’ legitimate activities (in Russia), and is absolutely not acceptable.” Hayashi said his government has lodged a protest against Russia over the entry ban. Hayashi was commenting on an announcement by Russia's Foreign Ministry on Tuesday that it was permanently banning 13 Japanese people, including Toyota Chair Akio Toyoda and Rakuten Group Inc. CEO Hiroshi Mikitani, as well as Japan International Cooperation Agency President Akihiko Tanaka, from entering Russia. No reasons were given for the selection of the people subject to the entry ban. Japan has been closely cooperating with the Group of Seven industrialized nations to impose sanctions on Russia over its war on Ukraine because of growing concern about the conflict’s impact in Asia, where China has been increasingly expanding its military presence and threatening to use force to exert its control over self-governed Taiwan. Japan has already faced a series of reprisals from Russia, including the suspension of bilateral talks on a peace treaty with Tokyo that included negotiations over disputed islands. Moscow has also announced entry bans on hundreds of Japanese lawmakers including Prime Minister Fumio Kishida and some of his predecessors.
Biofuel Bentleys are coming for Britain's green king None - What do you do when you travel in a chauffeur-driven Bentley but want to be known as the green king LONDON -- What do you do when you travel in a chauffeur-driven Bentley but want to be known as the green king? King Charles III plans to resolve this quandary by converting two state Bentleys to run on biofuel. That will give him time to go electric, Buckingham Palace said Wednesday as it released the royal accounts for the financial year ended March 31. The king also installed solar panels at Windsor Castle and increased the use of sustainable aviation fuel for royal flights. “Small steps, but part of a much wider plan to make a significant impact on our carbon emissions in the years ahead,’’ Michael Stevens, keeper of the privy purse, told reporters in London. The report on the sovereign grant, the mechanism used to fund royal spending, showed that Charles spent 89.1 million pounds ($114.9 million) last year, including 30.4 million pounds on the refurbishment of Buckingham Palace, a 10-year project scheduled to be completed in 2027. Charles undertook 464 official engagements last year, even though he stepped away from public-facing duties for several weeks after he was diagnosed with an undisclosed form of cancer, the palace said. Queen Camilla made 201 appearances, including 103 with the king. To help speed them on their way, the royal household will take delivery of two new helicopters in the coming year to replace aging aircraft. A separate report from the Crown Estate, an independent business that manages assets held by the sovereign during his lifetime, also showed for the first time the scale of the financial windfall the royal family will receive from Britain’s growing green energy market. The Crown Estate said profits rose to 1.1 billion pounds last year, driven by income from six offshore windfarms. That will boost public funding for the royals by 52% to 132 million pounds in 2025-26 because the sovereign grant is based on a percentage of the income generated by the Crown Estate two years previously. An estimated 60 million pounds from the 2025-26 grant will go toward the restoration of Buckingham Palace. But the windfarms will also spin off benefits for people around Britain after Charles asked that the bulk of the windfall be used for “the wider public good.” As a result of that request, the share of Crown Estate profits dedicated to the sovereign grant will drop to 12% in 2025-26 from the current 25%, leaving an additional 143 million pounds for public spending. ___ Find more of AP’s coverage at https://apnews.com/hub/royalty
Visa's fiscal third-quarter profits rise 9% as payments become increasingly digital None - Payment processing giant Visa Inc. said its fiscal third-quarter profits rose 9% on an adjusted basis as it benefits from consumers and businesses moving their payments from cash to credit and debit cards NEW YORK -- Payment processing giant Visa Inc. said Tuesday that its fiscal third-quarter profits rose 9% on an adjusted basis, as it benefits from consumers and businesses moving their payments from cash to credit and debit cards. The San Francisco-based company said it earned $4.87 billion, or $2.40 a share, compared to a profit of $4.16 billion, or $2.00 a share, in the same period a year earlier. Excluding one-time items, Visa earned $2.42 a share, which was in line with what analysts had expected, according to FactSet. Visa processed $3.325 trillion in transactions on its network during the quarter, up 7.4% from a year earlier. Much of the payments growth came from Europe and Latin America, but U.S. payments grew by 5.1%, which is faster than U.S. economic growth. Visa earns a fee from every transaction processed on its network. That fee varies from industry to industry, and whether it's done with a credit or debit card, but generally it is somewhere between 1% to 4%. Since the pandemic, more consumers globally have been shopping online for goods and services, which has translated into more revenue for Visa in the form of fees. Even traditionally cash-heavy businesses like bars, barbers and coffee shops have started accepting credit or debit cards as a form of payment. But while the world continues to move toward digital payments, the pace of adoption may be slowing slightly. Visa reported that credit and debit card payment volumes growth slowed from 8% to 7%. That may be partially due to the size of Visa's market getting too big to grow as quickly as it once did, but it also could be because there are fewer new industries for Visa to switch over to digital.
Republicans are 'defending the indefensible': Harris campaign uses Trump's word against him in ad None - Republicans are 'defending the indefensible': Harris campaign uses Trump's word against him in ad Vice President Harris released her first campaign video today. Meanwhile, former President Trump attacked Harris at a rally. Former staffer for Rep. Hakeem Jeffries Michael Hardaway, NBC News senior political editor Mark Murray and chief strategist for Mitt Romney's 2012 campaign Stuart Stevens join Chris Jansing to discuss.July 25, 2024
'Jesus did not have children': JD Vance ripped for 'ridiculous' 'childless cat ladies' comment None - JD Vance is facing growing backlash over his 2021 remark about "childless cat ladies." Washington Post senior critic-at-large Robin Givhan and former Rep. Tim Ryan join Chris Jansing to share their thoughts on his comments, saying it shows Vance and Trump want to "control women."July 25, 2024
Beshear: No matter what happens with veepstakes, I'll work to elect Harris None - ‘We don’t want to go back’: Women voters fear a Trump-Vance America