Forum Della Magia Thu, 24 Nov 2022 05:56:01 +0000 en-US hourly 1 Forum Della Magia 32 32 President Gbajabiamila warns against cynicism – Thu, 24 Nov 2022 05:56:01 +0000

The Speaker of the House of Representatives, Representative Femi Gbajabiamila, has warned against condemnation or skepticism of the Student Loans Bank proposal by the Student Loans Bill which was passed by the National Assembly on the grounds that previous attempts have failed.

It was then that key stakeholders in the higher education sector expressed their support for the repayment of the student loan.

The scheme is for tertiary students in Nigeria, as proposed in the Student Loans Bill passed by the Nigerian Senate on Tuesday.

The bill, sponsored by Gbajabiamila, had already been passed by the Green Chambers in 2019.

Gbajabiamila, who spoke on Wednesday, the second day of the national higher education summit organized by his office, noted that the future of the large youth in the country should be of concern to all given the current situation. current state of higher education in the country.

According to him, the cynicism against the bill goes against offering solutions to the funding challenges faced by Nigerian students in public tertiary institutions who will see their dreams and aspirations truncated due to the lack of access to higher education.

Gbajabiamila’s position follows the assertion by the president of the Union of Academic Staff of Universities, Professor Emmanuel Osodeke, that the union will not support the proposed student loan bank as proposed by the bill on student loans. student loans, sponsored by the president because the previous attempt failed.

The President said that all well-meaning Nigerians should focus on how to do the law once signed into law by the President to ensure that the purpose it was meant to serve would not be defeated.

Gbajabiamila said: “It is time for us to start thinking outside the box.

“It is time for us to start looking at international best practices.

“Nigeria is not isolated from the rest of the world.

“We borrow ideas from the rest of the world, just as they can also borrow from Nigeria.

“And then we adapt these ideas to the particularities of our country.

“At the end of the day, we get more or less the same result.

“As they say, there’s more than one way to skin a cat.

“There are many ways to get to the final destination.

“And I believe that is what the student loans bill is all about.

“I don’t want us to leave here with a cynical approach or a defeatist attitude.

“This something happened a long time ago, under a totally different regime, not in a democratic framework, and so if it happened many years ago, there is a good chance that nine times out of 10, it happens again.

“I don’t subscribe to that school of thought.

“I believe you are learning from the past.

“If something fails before, you look at the reasons why it failed and then you try to perfect those reasons to get a better result.

“That’s the whole story.

“That’s democracy.”

According to Gbajabiamila, the bill addresses issues of accountability, transparency and other administrative bottlenecks that might negate the essence of the initiative.

Bill provides two-year moratorium after completion of mandatory National Youth Service Corps before reimbursement begins

According to him, as provided for in the bill, the beneficiary must also have as a guarantor a civil servant with at least 12 years of service or a lawyer with at least 10 years of experience.

In addition, the sponsor of the bill said that another provision built into it to ensure transparency and accountability is that the loan, once approved, is paid directly to the university and not in cash to the beneficiary. to prevent it from being used for purposes it was not intended for.

The application must be processed within 30 days of submission to avoid being compromised, Gbajabiamila noted, while adding that beneficiaries who have been convicted by the court or those for whom a previous default has been established against them would not be eligible for the loan.

Summit panelists hailed the President’s initiative which would ensure that access to higher education is made available to every Nigerian child.

Following the presentation of a paper titled: “Considering Practical Options for a National Student Education Loan System”, by Dr. Abari, panelists expressed optimism that the loan program is capable to address the funding challenges facing Nigerian public tertiary institutions.

In his presentation, Abari noted that many countries have already adopted student loan programs. adding: “Targeted at disadvantaged groups, subsidized loan programs can lead to better access of the poor to university education, thus contributing to greater social equity.

“And loans offered on favorable terms for studies in particular fields can lead to loosening the bottlenecks of skilled labor that hinder national and social development.”

While urging Nigeria to follow global best practices, Abari noted that the loan scheme has become necessary, saying, “A student loan scheme is the solution to the annual ASUU strikes.

“The introduction of tuition fees is unavoidable due to rising infrastructure maintenance costs.

“Perhaps they could consider increasing tuition as the federal government needs to establish a student loan program for students who cannot afford the new tuition.

“Nigeria’s education system needs repositioning, which should reestablish Nigeria as the true giant of Africa.”

The panelist included Professor Oluwatoyin Ogundipe, former Vice-Chancellor of the University of Lagos; Professor Conrad Omonhinmin of Covenant University; Oluwole Adeosun, President, Chartered Institute of Stockbrokers; and Dr. Idowu Chiazor, Center Director, Brightpath International Academy.

Panelists and others applauded the bill.

They said the growing size of the Nigerian population has made it more difficult to fully fund higher education, while an education loan bank provides the solution to the challenge of denying Nigerian children access to education. higher education due to lack of resources.

Adeosun said that for this to work and not follow the path of previous experience, there must be a change of direction, widespread awareness, the loan must be given to deserving students, full program supervision, a rate carefully designed interest rate, an efficient collection mechanism to minimize default by beneficiaries, in addition to a stable management team of professionals.

Professor Ogundipe said a database of students in the country is the first step in its creation, while recommending that beneficiaries should have guarantors with pensionable employment or retirement benefits.

Prof Omohinmi and Dr Chiazor stressed the need to ensure that when it goes live, it will not be hijacked by people who have no connection to the program.

They also said that ways to productively engage beneficiaries after graduation to eliminate the problem of involuntary default must be put in place.

Blockchain Technology Innovation Forum Held in Chengdu Wed, 23 Nov 2022 07:09:51 +0000 Copyright 2022 PR Newswire. All rights reserved

CHENGDU, China, November 23, 2022 /PRNewswire/ — A forum focused on innovation and development of blockchain technology was held in Chengduthe capital of from southwest China Sichuan province, the 21 November.

The Blockchain Technology Innovation and Development Forum, sponsored by the Chengdu Municipal Government, was a key part of the 2022 Chengdu Global Innovation and Entrepreneurship Expo and the second International Innovative Application Expo of the Blockchain. It has attracted academics, expertsacademics and industry practitioners to share their ideas and latest practices on the future development of blockchain technology.

Jiang Changjun, academician of the Chinese Academy of Engineering, said the construction of new infrastructure and artificial intelligence infrastructure should be accelerated to promote the development of digital economy.

Li Jie, director of the blockchain research center at Shanghai Jiao Tong University, believes that blockchain has caused a credit revolution. He said the combination of big data and blockchain technology will enable the high-quality development of the digital economy.

Zhang Xiaosong, a professor at the University of Electronic Science and Technology of China, said blockchain technology will deepen the integration of digital technology and the real economy. It will play an increasingly important role in reducing the cost of the real economy, improving the efficiency of industrial chain coordination, and building an honest industrial environment.

The Blockchain Branch of the China Institute of Electronics, with five partners, signed a cooperation agreement to jointly build a technical personnel training base focusing on blockchain technology in Chengdu. This will allow Chengdu to stimulate the construction of a comprehensive national pilot city for blockchain innovation and application.

A technical standard named Blockchain, smart contract, formal design and verification method (T/CIE130-2022)proposed by the Blockchain Branch of China Institute of Electronics and developed by Beihang University, was also released at the forum.

Hu Kaiprofessor at Beihang University, said the establishment of the standard aims to make the process of designing and verifying smart contracts based on blockchain technology more standardized, convenient and operational.

Statistics show that by the end of 2021, the number of blockchain-related businesses in China had exceeded 121,000, of whom nearly 8,000 were based in the ChengduChongqing Region. That is why a technical requirements guide for the blockchain industry for this region has been published.

Additionally, to help lay a solid foundation for blockchain security, the Blockchain Security and Application Alliance was created at the forum.

Chengdu Municipal Government

Raising taxes on used cars is a slap in the face for taxpayers Tue, 22 Nov 2022 18:34:48 +0000

You remember your first car.

Maybe at sixteen you spent a summer flipping burgers and mowing lawns to save every penny you could for your first drummer. Maybe it was held together with duct tape and chewing gum, but you probably loved this car.

This fall, the BC government made it more expensive for people to buy used cars.

Instead of paying provincial sales tax on the actual price of a used car at a private sale, people will now be at the mercy of ICBC bureaucrats and their black book of car prices to determine the rate of tax they pay. This tax hike is going to cost people looking for a used wheelset $30 million one year increasing DVT.

Instead of recording what people spent on their used cars and taxing them, the provincial government calls these people liars and charges them whatever PST it deems appropriate.

Imagine a young family with baby number three on the way. The Prius worked well when mom and dad had two kids, but with the new baby due any day and a golden retriever to insert, it’s time to start looking for something bigger.

The cost of gas and groceries is at an all-time high and the interest on their home’s mortgage has suddenly spiked this fall, so the family can only afford a used van .

After shopping, a friend reaches out and offers the family a great deal on their old van. It is a little dull with 250,000 km on the odometer. The family is delighted. For $5,000, they get a great deal on the vehicle they need for their growing family.

Until last month, that meant the family had to pay 12% on the selling price of the used vehicle. That 12% tax bill. 100 is $600. That’s the cost of about a month’s worth of groceries for the family.

The Canadian Black Book is intended for general assessments of vehicle value. It cannot take into account the realities on the ground or the offers offered. So, to the family’s surprise, ICBC bureaucrats slap them with a tax bill for the medium value of their vehicle instead.

If the Black Book lists the average value of their vehicles at $12,000, the family would end up paying $1,440 in PST. That’s more than double the tax.

The provincial government claims these tax changes are meant to crack down on tax cheats, but in reality, they are a cash grab that will hurt people looking to save money on a used vehicle. If the government suspects someone of cheating the system, it can already launch an investigation. It is ridiculous to assume that everyone who buys a used car in the province is committing fraud until proven guilty.

This tax is a punishment for those who can least afford it – people who buy used items to save money.

To challenge ICBC bureaucrats’ assessment, family with van would have to pay private fee additional $350 for an appreciation. Even if the family wins their challenge, they end up paying hundreds of dollars that are needed for diapers, food and gas to get the kids to school.

People who buy used goods do so because they want to save money. With about 20 percent of Canadian families are skipping meals, why is the province cracking down on people who can’t afford to put food on their table?

Carson Binda is the British Columbia Director for the Canadian Taxpayers Federation.


Stock market tumbles on renewed economic worries ahead of holiday shopping; Disney stock soars Mon, 21 Nov 2022 19:55:00 +0000

The stock market fell on Monday as investors feared the state of the economy and rising Covid-19 infections in China could spread and thwart this week’s key holiday shopping season. Dow Jones component waltz disney (DIS) soared after launching CEO Bob Chapek and replacing him with former chairman and CEO Bob Iger.


The S&P 500 lost 0.4% while the Nasdaq fell 1.1%. The Dow Jones Industrial Average was flat. The Russell 2000 Small Cap Index fell 0.8%.

Volume on the NYSE and Nasdaq was higher from the same time on Friday. It’s a shortened holiday week, so expect volume to contract as people head out to see family and friends.

Crude oil lost 0.5% to $79.66 a barrel after plunging as much as 6% in morning trading. The futures contract recovered when Saudi Arabia denied a report that OPEC would increase production by 500,000 barrels.

Economic concerns continue to weigh on the stock market

The SPDR Energy Select Sector ETF (XLE) fell 1.4% and the S&P Consumer Discretionary Sector ETF (XLY) fell 1.6%, making them the biggest movers among the S&P 11 sectors.

The yield on 10-year Treasury bills remained unchanged at 3.82%. Bitcoin fell 3.7% to $15,646.

The odds of a 50 basis point hike at the December Fed meeting stand at 80.6% while 19.4% are looking for a 75 basis point hike, according to the CME FedWatch Tool.

“Investors should follow Fed guidance as rates will remain high for a longer period,” wrote John Kerschner, head of US securitized products and portfolio manager at Janus Henderson, in an article published over the weekend. “The Fed reiterated its hawkish stance as markets return to accommodative monetary policy.”

Chinese stocks tumbled as rising illnesses and four Covid-19 deaths sapped hopes the Asian nation will abandon its ‘zero Covid’ policy. Some investors fear that the number of Covid cases around the world will increase this winter.

Disney Stock rallies with Chapek Boot

Walt Disney rebounded 5.8% on Monday on news that former Chairman and CEO Bob Iger would take over as CEO, effective immediately. Bob Chapek replaced Iger in February 2020 but struggled during his tenure.

The theme park and media giant reported worse-than-expected fourth-quarter fiscal losses across streaming services Disney+, Hulu and ESPN Now, losing twice as much money as it did a year ago. Disney stock remains 40% off its 52-week high.

netflix (NFLX) fell 1.1% in light volume, reacting to news from Disney. Netflix stock is finding support at its 21-day exponential moving average.

Retailers are expected to release their results on Tuesday include best buy (ABY), Nordström (JWN), dollar tree (DLTR) and Dick Sporting Goods (DKS).

Fertilizer stocks soared as lithium carbonate, the key ingredient in electric vehicle batteries, neared record highs. Based in Chile Sociedad Quimica y Minera (SQM) led the way with a 10% gain. SQM topped third-quarter earnings estimates late last Wednesday, while announcing a production expansion.

SQM is in a cup with handle with a buy point of 112.45.

Stock market today: Tesla, Smucker’s, Domino’s

You’re here (TSLA) fell more than 6% in the current stock market as investors feared CEO Elon Musk’s Twitter troubles could spread like a contagion to electric vehicle sales. The stock fell to its lowest level in two years and is now down more than 58% since the all-time high of 414, recorded on November 4, 2021.

J. M. Smucker (SJM) gained 1.8% after posting a beating from the high and low numbers in the third quarter of 2023. The company also increased its full-year 2023 EPS and net sales growth. The stock is in the 5% buy zone of a handle cup base, with a buy point of 145.

Dominos Pizza (DPZ) rose 1.8% after announcing it would employ 800 Chevy Bolt electric vehicles in its delivery fleet. The first 100 are expected to arrive in November, with the remaining 700 in the coming months. The company cites reduced maintenance costs, savings on gas expenses and advanced safety features as benefits of adding electric vehicles.

General Motors (GM), which makes the Chevy Bolt, fell 0.7%.

Dell Technologies (DELL) fell 3.5% and ZoomTechnologies (ZM) lost 1.6%, ahead of the third quarter earnings release expected after the close.

ETF Innovator IBD 50 (FFTY) loses 1.5%, weighed down by oil stocks earth stone energy (ESTE) and Diamondback Energy (CROC).

Follow Michael Molinski on Twitter @IMmolinski


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7 Supercharged Growth Stocks Billionaires Can’t Stop Buying Mon, 21 Nov 2022 10:21:00 +0000

Amid a flurry of earnings reports and economic data announcements, you may have missed one of the most important data releases of the entire quarter on November 14th. case Form 13F with the Securities and Exchange Commission.

A 13F offers an under-the-hood look at what some of the world’s smartest fund managers held in their portfolios at the end of last quarter — in this case, as of September 30, 2022. Even though this portfolio snapshot is more six weeks, it can still provide insight into stocks and/or trends that pique the interest of top fund managers.

Image source: Getty Images.

Despite being crushed by the 2022 bear market, growth stocks remained a popular buy for billionaire fund managers during the third quarter. What follows are seven supercharged growth stocks billionaires can’t stop buying.

1. Philippe Laffont: PayPal Holdings

The first is billionaire Philippe Laffont of Coatue Management, who oversaw the purchase of 3.47 million shares of stock-fintech PayPal Credits (PYPL -0.84%) during the third trimester. This nearly quadrupled Coatue’s stake in PayPal for just three months.

Although fintech companies have been hurt by soaring inflation and a weakening US economy, PayPal has shown incredible resilience. Total payment volume, excluding currency movements, continued to grow by a low double-digit percentage.

Perhaps most importantly, active account engagement continues to climb. On a 12-month basis, active accounts averaged 40.1 transactions at the end of 2020 and 50.1 transactions in the quarter ending September 2022. Since PayPal is primarily a transaction-driven model, this bodes well for its sales and profit growth.

Additionally, CEO Dan Schulman is tightening the company’s belt amid growing economic uncertainty and doing what he can to boost shareholder value. PayPal is targeting $1.3 billion in annual savings in 2023 and recently authorized a $15 billion share buyback program.

2. Israel Englander: intuitive surgery

For billionaire Israel Englander of Millennium Management, developer of robotic-assisted surgical systems Intuitive surgery (ISRG 0.51%) was a stock he kept buying in the third quarter. Englander’s fund picked up 567,169 shares, which increased its position by 97% in just three months.

One reason for Englander’s optimism likely has to do with Intuitive Surgical’s dominance of the industry. The company had installed 7,364 of its da Vinci systems in hospitals and surgical centers around the world by the end of September, far more than any of its competitors. Additionally, the $0.5 to $2.5 million price tag for these systems makes it unlikely that its customers will ever switch to a competitor.

Intuitive Surgical also benefits from its working model designed with razors and blades. In its early days, the company generated most of its revenue from the sale of its expensive da Vinci systems. However, these are complex systems to build, and therefore produce mediocre margins. Over time, the sale of instruments with each procedure and the maintenance of its systems became the main sources of revenue for the company, at a considerably higher margin.

3. Paul Singer: Pinterest

Billionaire activist-investor Paul Singer of Elliott Investment Management was a busy bee during the third quarter, with a notable purchase of 10 million shares of social media stock pinterest (PINS -0.57%). That tripled the Singer fund’s stake from the second sequential quarter.

Although growing recession fears have weighed on social media stocks this year, Pinterest has outperformed its peers. The company’s monthly active user (MAU) count has increased sequentially over the past two quarters.

More importantly, Pinterest had no trouble monetizing its 445 million MAUs. Average revenue per user jumped 11% globally in the last quarter, with particularly strong growth in international markets outside of Europe.

But As I’ve already said, the best aspect of Pinterest is its operating model. Since users willingly share what matters to them, changes to data-tracking apps make little difference to Pinterest. It can still deliver critical data to advertisers on a silver platter.

4. Jim Simons: Airbnb

As for billionaire Jim Simons of Renaissance Technologies, his eyes were entirely on the accommodation and stay market. Airbnb (ABNB -1.54%). Simons added more than 1.67 million Airbnb shares in the last quarter, pushing Airbnb to become Renaissance’s third-largest holding by market value.

What makes Airbnb such an exciting investment is that it is disrupting the heavy hospitality and travel industries. The number of hosts in Airbnb’s online marketplace continues to grow, and the company has about 400 million nights and experiences booked this year. Best of all, long-term stays (reservations of at least 28 days) are Airbnb’s fastest growing categorywith the rise of remote working in the wake of the pandemic, providing the company with an expanding revenue channel.

Airbnb’s Experiences segment is also starting to get its feet wet. In addition to partnering with local experts to lead travelers on adventures, I would say this division has the opportunity to further infiltrate the $8 trillion global travel industry via transportation and restoration.

A person holding a credit card above a portable point of sale device.

Image source: Getty Images.

5. Ole Andreas Halvorsen: Visa

Billionaire fund manager Ole Andreas Halvorsen of Viking Global Investors ‘charged’ in Q3 with big payment processor buy Visa (V -0.09%). Viking added 2.79 million shares of the payments giant in the quarter ended September, increasing its stake 109% from the second quarter.

Although Visa is cyclical and therefore not immune to economic downturns, it has a few tricks up its sleeve. For example, it accounts for more than half of the credit card network’s purchase volume in the United States – the world’s largest consumer market – and was the only US payment processor to significantly increase its share after the Great Recession. There is also a sustainable opportunity for Visa to expand internationally.

Additionally, Visa’s management team wisely keeps the company focused on payment processing and stays away from lending. When recessions inevitably come, lenders almost always face loan losses. Since Visa does not lend, it is not required to set aside capital to cover loan losses. Translation: he bounces back faster than the others financial stocks.

6. Chase Coleman: Snowflake

Billionaire Chase Coleman of Tiger Global Management has been a big buyer of supercharged growth stocks for years. That didn’t change in the third quarter, with Coleman overseeing the purchase of 471,324 shares of a cloud data warehousing company. Snowflake (SNOW -1.01%). This brought Tiger Global’s stake north of 2.6 million shares.

Coleman’s optimism is likely tied to Snowflake’s sustainable competitive advantages and a higher growth rate. Regarding the former, Snowflake’s infrastructure is built on top of the most popular cloud infrastructure services. This makes data sharing transparent for enterprise customers.

Additionally, Snowflake eschews subscriptions in favor of charging its customers based on the amount of data they store and the Snowflake compute credits used. It’s a transparent pricing system that its customers clearly appreciate.

When it comes to growth, Snowflake is unmatched in the cloud space. Even in a difficult economic environment, the company increased sales by 83% in the quarter ended Julywith its remaining performance obligations (i.e. backlog) up 78% to $2.7 billion.

7. Jeff Yass: Amazon

Last but not least, billionaire Jeff Yass of Susquehanna International repeatedly clicked the “buy now” button on e-commerce player Amazon (AMZN -0.75%). Yass’ fund added nearly 9.6 million shares, which increased its stake in Amazon by 63% to about 24.8 million shares.

Although Amazon is best known for its dominant online marketplace – Amazon accounted for nearly $0.40 for every dollar in online retail sales in 2022 – retail sales aren’t generating much profit or cash flow. operation for the company. It’s rather Amazon’s Auxiliary Operations that generate the bulk of its cash flow.

For example, the company had signed up over 200 million people for a Prime subscription, as of April 2021, and that number has almost certainly grown since then. Amazon Web Services (AWS) is also the world’s leading provider of cloud infrastructure, with an estimated 31% share of cloud services spending in the second quarter, according to Canalys. AWS, subscription services and even advertising services can combine to potentially triple Amazon’s operating cash flow by mid-decade.

This new book invites white women to question the role they play in white supremacy Sat, 19 Nov 2022 21:40:22 +0000

To the world, Regina Jackson and Saira Rao may seem like an unlikely pair. The two are co-founders of Race2Dinner, a two-hour experience where they meet at a table with white women for radically honest conversations about race and racism. The two are also the authors of the New York Times bestselling book White women: everything you already know about your own racism and how to do better, which was released earlier this month. Jackson and Rao sat down to unbox their new book and why they decided to write it and discussed their upcoming documentary Deconstruct Karena film where “nice white women attend the craziest dinner party of their lives”.

Janice Gassam Asare: Saira, Regina, why did you decide to write this book? I know a lot of people are wondering because there is a lot of similar content that has been posted. Why did you feel this book was necessary?

Regina Jackson: Saira ran for Congress in 2018 against a longtime incumbent. I worked on her campaign and she lost. But his whole platform was anti-racist. And every time she spoke, white women lined up to talk to Saira. And what they meant was, ‘Not me. I am not racist.’ I had an old white friend who told me: “I’m done with Saira”. She hates white people. But, if you can take her to lunch with me, I’d really appreciate that. I went to Saira and said, “So-and-so wants to go to lunch.” Saira says, “I don’t do that anymore.” She said, “I spent all my time, my money because these white women don’t want to pay anything. And she said, “And they still won’t vote for me.” She said, “If your white friend wants to have a dinner party and you do it with me, and she invites her white friends, we can do it.” We did a few and that was our Race2Dinner.

Saira Rao: What we saw at that first dinner party just outside the door was an all-white woman…the Broadway musical, crying, rolling her eyes, arms crossed, just the whole thing…why we decided to write this book is that I think the feedback we’re getting is that it’s unlike anything that actually exists because it’s very straightforward. It’s the anti-tone police. All these women have come to tone us down with the police, and we’re like, ‘No, thank you. It will not work. There is no grip. There is no tiptoe walking. We are not saying anything radical. We just say it in a way they may never have been told before. The most shocking thing is not what we say. The most shocking thing is that Penguin Random House released it. This is what is surprising. And there was a window where our white agent got to have her own wake up call and realize how desperately white women needed this book. She targeted 10 white female editors who she thought could do it. She sent them a very targeted pitch and it sold out in 36 hours.

In the same way: What has become a worrying trend is white people creating content, books, making millions from those books, talking about things they have no lived experience with.

jackson: Exactly. We just talked about it.

In the same way: Can you tell us a bit more, Regina?

jackson: Where do they get their information? They need to reach out to black and brown and indigenous people to find out what it is like to live as an oppressed person in this society. But, nevertheless, they can all become experts at DEI. And the reason DEI is tiptoeing around white women’s feelings… white women’s feelings.

Rao:I think another thing that really can’t be overlooked is Regina and I consciously subverted the divide and conquer white supremacy. There is a black woman with the model minority woman. A black woman with the South Asian woman. We are supposed to hate each other. I’m supposed to be anti-black against Regina. And Regina is supposed to be xenophobic towards me. And we’re like, ‘No, that’s not happening.’ And I think that’s an incredibly radical act. And the fact that we are joined. In the book, I talk explicitly about my institutional anti-blackness. In the film, I explicitly talk about my own institutional anti-blackness. Let’s all broadcast… where we all sit down in the power system and get the job done.

In the same way: Seeing an interracial solidarity that you both have formed can inspire others to truly consider their internalized oppression [and] anti-darkness. What was the [book] reception so far? Congratulations on doing the New York Times list of bestsellers.

jackson: On a personal level, we get great reviews from people like you. Black and brown women, and even white women because we have white women in our tribe who do the work, who take the books. We had a woman who put little posters of Whole Foods on the magazine rack. These are women who are ready to do the work. They see it. They see themselves in the book. Those who have seen the film see themselves in the film. They know we’re talking radical honesty.

Rao: I would say the biggest shock is, aside from Penguin publishing it, the next biggest shock is the reception, who have been the usual suspects…they haven’t even read the book. They just see the title and run away. People who have actually picked up the book and read the book, mostly black, brown and white, love it. It blew us away. I have a white woman I did a podcast with last week who is a proven white feminist. And she said, ‘I saw the book and I got mad. I started reading it and got mad. And then I had a conversation with myself in the mirror that it was time for me to do this. And she said, “It had been about 40 pages before I realized that was the most transformative thing I had ever read in my life. And this is a love letter to humanity. It’s not mean. It’s not violent. It’s filled with hope and love.

In the same way: What do you both want readers to take away from this book?

jackson: I want readers to remember that we are all wronged by white supremacy, including white women and their children. Who are the majority of mass shooters? They are young white men. Who are the majority of children who are killed in their class? Young white children. They are hurt as much as we are hurt. And if we can’t end white supremacy, we’re killing the earth. Capitalists are killing the earth for money…we all need to get on board, save our planet, save ourselves, save our children, save humanity.

Rao: When I am asked this question, I say it out loud and each time, I say to myself: ‘It’s so sad for them and for us.’ But it’s up to white people to racialize themselves. Very intentionally, the book is titled white women. The title of the book is a radical act because we are black and brown. It’s a good day. We know what they call it in camera. But, these are just people. They are only women. They are only men. And if you are the default, everyone else is by definition. We are altered by definition. Once you start racializing yourself, my Indian co-worker, my kid’s black friend, my kid’s white friend, my white co-worker, my white neighbour… you have to force yourself to see where you are in the power structure. And once you’ve done that, you better start dismantling that pretty quickly, or you’re knowingly oppressing others.

In the same way: How do you think the Forbes can readers amplify the book and amplify this message? I know that recently, a few months ago, Saira, you got banned from social media. I have a feeling this often happens to truth tellers. How do you think more people can get that message across and can support both you and the book?

jackson: I know we are building a movement. If we continue to tell the truth, that is our number one value. Radical honesty. We’re not going to lie. And we’re certainly not going to tiptoe with white feelings. Let’s just call a thing a thing. If you see people getting hurt, talk about it. Use your voice and let’s keep building this movement.

Rao: And I would add to that that companies need to stop pretending that they are outside the ecosystem of politics and culture. In a country based on capitalism, business is the epicenter of our culture. By design, it’s not polite to talk politics at dinner. You can’t talk about politics at work. Then it means you just don’t talk about it. There is no significant change if you don’t talk about it at home or at work. That’s basically what’s happening. Start having those conversations. I would say eject DEI. In my mind, DEI is lipstick on a pig. These are white women ticking boxes. Start having anti-whiteness work… anti-racism work. Have it in your business. Hire black, indigenous and brown women to lead this and be supported and not be tokens and not be ghosted, demoted and fired in low voice campaigns against them. Hire people who really have the power to change. The reality is…if you’re not hiring black, indigenous, and brown women to run these departments, you don’t want change. You want status. You want lipstick on a pig. This is what you want.

This interview has been lightly edited for clarity and brevity.

In search of stock market incentives for decarbonization Fri, 18 Nov 2022 22:29:23 +0000

The carrot and the action: in search of stock market incentives for decarbonization


Laurent Millischer; Tatyana Evdokimova; Oscar Fernandez

Publication date:

November 18, 2022

Electronic access:

Free download. Use the free Adobe Acrobat Reader software to view this PDF file

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Financial markets can support the transition to a low-carbon economy by redirecting funds from high-emissive investments to clean investments. We investigate whether European stock markets incorporate carbon prices into company valuations and to what extent they discriminate against companies with different carbon intensities. Using a new dataset of stock prices and carbon intensities of 338 listed European companies between 2013 and 2021, we find a statistically significant relationship between weekly changes in carbon prices and stock returns. Fundamentally, this relationship depends on the carbon intensity of companies: the higher the carbon costs a company faces, the worse its stock performance during periods of rising carbon prices. Emissions covered by free allowances, however, do not affect this relationship, illustrating how carbon pricing and disclosure are necessary for financial markets to promote climate change mitigation. The relationship we identify can incentivize companies to decarbonize. We argue for more ambitious carbon pricing policies, as this would strengthen the stock market incentive channel while entailing only limited risk to the financial stability of stocks.

Google Wallet arrives on the scene of the Fintech sector in Vietnam Fri, 18 Nov 2022 10:30:38 +0000

Google has announced that its Google Wallet mobile application will now be available in Vietnam.

The announcement sees Google Wallet join a long line of fintech apps all vying for a piece of Vietnam US$14 billion fintech market.

And it’s not just in payments that fintech solutions are taking off. A range of mobile apps targeting stock trading and investing, as well as money lending, have all come online in recent years.

Fintech is undeniably booming in Vietnam and the momentum with which it is propelling itself, for a relatively nascent industry, shows few signs of slowing down.

Vietnam’s fintech industry in numbers

A Robocash Analysis in May this year, found that the market is expected to reach US$18 billion by 2024. This represents huge demand for fintech services in the booming Southeast Asian nation.

Along with this discovery, Robocash also reported that of the venture capital invested in Vietnam, 93%, in 2021, was directed to digital payments.

He also found that between 2016 and 2021, fintech companies in Vietnam skyrocketed. In five years, the number of operators has increased by 84.5%.

There has, however, been a marked drop in the number of entrants to the market, from 11 per year to just two. This could be a sign that the market may be reaching peak saturation. However, it could also be a sign that big industry players have firmed up their understanding of what Vietnamese fintech users want and need. New entrants, as such, will need to be savvy operators with a good understanding of how Vietnam’s fintech sector works.

What is driving the growth of the fintech sector in Vietnam?

Vietnam is a huge growth market for fintech. More than 75 percent of the population has access to the Internet and this should increase to 82% by 2025 i.e. almost 7 million additional people.

On top of that, Vietnam has a relatively young and tech-savvy population. According to the Ministry of Communication, 73.5% of People in Vietnam currently use smartphones. He estimates that number will climb to just over 82% by the end of 2022.

Moreover, a digital transformation of the Vietnamese economy is high on the government’s agenda. The National Digital Transformation Program launched last year, sets out key digital banking goals to be achieved by 2025. These include:

  • 50% of banking operations will be entirely online,
  • 50% of the population has a digital checking account, and
  • 70% of customer transactions must be conducted through digital channels.

That said, despite the adoption of digital banking, few regulations have been developed to manage the fintech sector.

Fintech regulations in Vietnam

Vietnam’s approach to the proliferation of fintech and digital assets has been consistent and cautious. So to speak, there are very few regulations specific to fintech. There are, however, a number of regulations in other sectors that may be relevant to fintech operators.

For instance, Decree 101/2012/NĐ-CPissued in 2012 and covering non-cash payments can be applied to fintech payment providers although he does not specifically mention them.

Developing a fintech sandbox

To take advantage of the opportunities presented by fintech, the government is taking steps to create a fintech sandbox.

This sandbox would be a test credit organizations and financial institutions to develop new technologies, regulators to assess the risks and benefits of fintech for the consumer, to reduce the risks that consumers face when using fintech products and to determine which authorities regulators will be responsible for regulating the sector.

It would look like sandboxes in other Southeast Asian countries like Singapore, Thailand or Malaysia.

That said, while a draft executive order outlining a possible fintech sandbox program has been circulated, it may still be some time before it is approved.

The status of cryptocurrencies and digital assets

Cryptocurrencies, for all intents and purposes, are not legal in Vietnam.

The State Bank of Vietnam (SBV) has been very clear about this, in a official dispatch in 2017 indicating that:

“Virtual currency in general, and Bitcoin and Litecoin in particular, are not currencies and are not legal means of payment under the provisions of Vietnamese law. The issuance, supply and use of virtual currency in general and of Bitcoin, Litecoin in particular… as currency or means of payment are prohibited.

The letter goes on to point out that using cryptocurrencies as an offer may constitute an “administrative violation” and perpetrators may be fined.

Loan between individuals

Peer-to-peer lending is also, for the most part, unregulated. Although it has been suggested that this could be considered credit activities in which case a license may be required from the SBV.

Notably, in the aforementioned draft decree for a sandbox mechanism, a provision is made to explore peer-to-peer lending services.

Foreign investment in fintech in Vietnam

Although there are significant restrictions on foreign direct investment in financial institutions and credit organizations in Vietnam, there are none specific to fintech. That is as long as fintech functions are not covered by other laws.

To be clear, an application like Google Wallet only acts as an intermediary between a financial institution or a credit agency. It does not actually provide credit.

In light of this, foreign investment has been pouring into the sector in recent years – this could also be part of the reason why Vietnam’s fintech sector has grown so rapidly.

The future of the fintech sector in Vietnam

Despite increased competitiveness in Vietnam’s fintech sector, Google Wallet shows that there is still room for new entrants.

Although there is a lack of regulation, with a government keen to digitally transform the economy, any regulation that develops in Vietnam is likely to be favorable to the sector.

Moreover, as the population of young, tech-savvy Vietnamese continues to grow and smartphone penetration proliferates even further, the fintech sector is also expected to continue to thrive.

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Dezan Shira & Associates providing business intelligence, due diligence, legal, tax and advisory services throughout Vietnam and the Asian region. We have offices in Hanoi and Ho Chi Minh City, as well as throughout China, Southeast Asia, India and Russia. For assistance with investing in Vietnam, please contact us at or visit us at

DHS monitored ‘social media reactions’ to Roe, collected legally protected speeches, bulletin shows Thu, 17 Nov 2022 00:16:24 +0000

The Department of Homeland Security has been monitoring “social media reactions” and “thoughts” related to the Supreme Court’s decision that overturned Roe v. Wade, according to a DHS bulletin obtained by Yahoo News. That alarmed current and former DHS officials and civil liberties advocates, who said the agency appears to have collected speech protected by the First Amendment.

The June 26, 2022 document released days after the Roe decision was produced by the department’s Office of Intelligence and Analysis and provides updates on what each part of the office is doing in the wake of the SCOTUS decision. “[The Office of Intelligence and Analysis] will continue to monitor this event for any additional information, social media reactions, thoughts and possible threats of violence in response to this event,” he said.

A DHS official said the agency is authorized to collect online postings that would normally be considered protected speech if it determines there is a greater potential threat to national security.

This comes as the department faces scrutiny from Congress for its social media monitoring activities, including how it tracks and collects what it determines to be misinformation or misinformation.

Pro-choice activists demonstrate May 3 outside the United States Supreme Court in Washington, D.C., in response to the leaked Supreme Court draft decision seeking to overturn Roe v. Wade. (Alex Wong/Getty Images)

On Tuesday, Secretary Alejandro Mayorkas stressed in his testimony before Congress that the work his department does adheres to privacy guidelines and First Amendment protections.

Tracking reactions and thoughts on social media following Roe’s reversal was done in June, during Mayorkas’ tenure.

The bulletin also comes as the US Senate released a report on the DHS and FBI response to domestic terrorism that strongly criticizes DHS’s social media monitoring programs.

The report was released Wednesday by the head of the Senate Homeland Security and Governmental Affairs Committee, which is holding a hearing Thursday at which Mayorkas will testify alongside FBI Director Chris Wray.

It calls on DHS and other agencies to “clarify and improve federal agency guidance on the use of social media while respecting the constitutional rights of individuals,” and also references a conversation between DHS officials and the Committee Chairman, Senator Gary Peters, D-Michigan

Alejandro Mayorkas testifies, with a nameplate in front of him saying: Hon.  Mayorkas.

Department of Homeland Security Secretary Alejandro Mayorkas testifies before a House Homeland Security Committee hearing on “Global Threats to the Homeland” on Capitol Hill on Tuesday. (Reuters/Michael A. McCoy)

According to the Senate report, DHS told the committee chair that it had “expanded its assessment of online activity as part of efforts to assess and prevent acts of violence, so as to ensure protection solid foundation of Americans’ privacy, civil rights and civil liberties”. .”

But monitoring social media thoughts and reactions appear to contradict DHS claims.

The report also calls on agencies to develop guidelines that “must comply with federal law protections and constitutional limitations, including the First, Fourth, and Fourteenth Amendments, and agencies must be transparent about the data they use regarding social media”.

Civil liberties advocates said they were alarmed to learn that the DHS Office of Intelligence and Analysis was monitoring free speech.

“It is alarming that I&A intends to monitor ‘social media reactions’ to the release of the Supreme Court’s opinion quashing Roe v. Wade,” said Rachel Levinson-Waldman, deputy director of the Freedom and National Security program at the Brennan Center. for Justice, which reviewed the bulletin for Yahoo News.

“The document does not disclose which social networks I&A intends to monitor, what reactions it seeks, or what types of social media posts would warrant inclusion in a follow-up situation report,” she said. “Even if some threats float in the sea of ​​social media, searching for ‘reactions’ to the decision will inevitably produce a volume of sensitive information that will overwhelm the small amount of relevant data, while jeopardizing Americans’ rights to privacy. freedom of expression and freedom of association and the risk of delegitimizing political discourse.

The logo of the Department of Homeland Security, with a crest atop an eagle with outstretched wings holding an olive branch and eight arrows.

The Department of Homeland Security logo at the ICE Cyber ​​Crimes Center expanded facility in Fairfax, Va. (Paul J. Richards/AFP via Getty Images)

Levinson-Waldman added that “with DHS’s nationwide audience of tens of thousands of law enforcement officers, it’s unclear who will receive this report from the U.S. intelligence community and how local agencies are supposed to use reactions to current events to monitor their citizens.

“If this exercise of authority is warranted by I&A’s oversight guidelines, it’s just further evidence that the guidelines allow for far too intrusive data collection and that DHS has strayed from its intended mission.”

The former head of DHS’s Office of Intelligence and Analysis told Yahoo News that it’s critical that those doing this work know the difference between protected speech and a potential threat.

“Efforts to prevent acts of targeted violence benefit significantly when law enforcement or security officials assess the content of online forums of violent extremists or other threat actors,” John said. Cohen, former acting DHS undersecretary for intelligence and analysis. “The challenge is that analysts must distinguish between protected speech and threat-related activity.”

The DHS Inspector General’s Office released several reports this year detailing issues with how the department collects open-source information, including social media posts.

Abortion rights supporters protest, carrying placards saying, for example, abortion is health, and

Abortion rights supporters demonstrate June 25 outside the United States Supreme Court the day after the ruling in the abortion case Dobbs v. Women’s Health Organization which overturned Roe v. Wade. (Reuters/Elizabeth Frantz)

On July 6, the Inspector General released a report titled “The Office of Intelligence and Analysis Needs to Improve Its Open Source Intelligence Reporting.”

“Even after their initial training, the collectors we spoke with weren’t sure if, in their day-to-day operations, they adhered to privacy protections and freedom of expression,” he says.

The report called on the department to improve training for analysts who collect this type of information, including social media posts. Mayorkas accepted this recommendation, the report noted.

In response to questions about DHS’s monitoring of social media reactions and thoughts, a DHS spokesperson emailed a statement to Yahoo News:

“The Department of Homeland Security’s Office of Intelligence and Analysis (I&A) is authorized by statute and executive order to assess publicly available information in support of its authorized missions and in accordance with oversight guidelines of the Department of Homeland Security. attorney general-approved information that safeguards privacy, civil rights, and civil liberties,” the statement said, noting that “I&A routinely shares information with federal, state, and local law enforcement partners. laws to prevent, protect or better respond to targeted violence and terrorism”.

Asked about the Senate report released Wednesday, a DHS spokesperson told Yahoo News in an email that “countering domestic violent extremism is a top priority for the Department of Homeland Security (DHS). DHS is committed to a community-based approach to preventing terrorism and targeted violence, and does so in a way that protects privacy, civil rights and civil liberties, and complies with all applicable laws.”

Yahoo News reporter Caitlin Dickson contributed to this report.

Bitcoin, Ethereum and Stocks Rebound as Inflation Shows Signs of Reversing Tue, 15 Nov 2022 19:03:56 +0000

Bitcoin and Ethereum surged with stocks on Tuesday on positive news from the United States regarding inflation.

At the time of writing, the largest cryptocurrency by market capitalization was up 3.4% in 24 hours, trading for $17,014, according to CoinGecko.

The coin is still down more than 17% last week after the broader crypto market took a beating following news of the high-profile collapse of digital asset exchange FTX.

Meanwhile, Ethereum, the second largest cryptocurrency, jumped 2.6% in 24 hours, priced at $1,269. The cryptocurrency that powers the smart contract platform and blockchain was hit harder than Bitcoin last week, dropping nearly 20% in seven days.

Much of the crypto market, including top digital assets by market capitalization, was in the green today.

The small rally comes as U.S. stocks were supported by new data from the Labor Department’s Producer Price Index report on Tuesday, showing a decline in the cost of goods excluding food and energy. According to experts, this could mean that inflation is finally under control.

Quantum Economics CEO Mati Greenspan said Decrypt that “the inflation data seems to be turning, which is really positive for asset prices”.

This year, the cryptocurrency market has mostly followed the US stock market; with inflation at its 40-year high in the United States, the Federal Reserve pursued an aggressive policy of raising interest rates.

This caused investors to get shot at risky assets, like tech stocks and Bitcoin, and hold on to greenbacks. The US dollar has appreciated this year, but today he lost ground to other currencies on new data from the Labor Department.

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