Tag Archives: tread

Colorado middle-schooler kicked out of class for ‘Don’t tread on me’ patch that teacher claims originated with slavery – New York Post

  1. Colorado middle-schooler kicked out of class for ‘Don’t tread on me’ patch that teacher claims originated with slavery New York Post
  2. 12-year-old boy booted from class over Gadsden flag patch on backpack: ‘Origins with slavery’ Fox News
  3. What is ‘Gadsden flag’? Colorado school removes child from class for carrying it Hindustan Times
  4. Opinion: Told to remove ‘Don’t Tread on Me’ patch, this Colorado kid took a stand Deseret News
  5. Democrat Colorado governor calls Gadsden flag ‘proud symbol’ of American Revolution in response to viral video Fox News
  6. View Full Coverage on Google News

Read original article here

The Most Disappointing Gadgets of 2021

Screenshot: Amazon

Though it wasn’t technically available to buy in 2021, Amazon revealed its tiny, privacy-abolishing robot Astro this year, so it still counts. More or less an Alexa on wheels with cute eyebrows, Astro presented us with an answer to a question we didn’t remember asking: “What if Wall-E were real, evil, and knew how to beatbox?”

Priced at a cool $1,500—$1,000 for members of Amazon’s Day 1 editions program—Astro is billed and advertised as a domestic assistant. And like any good assistant, Astro gets to work on day one by getting to know you, your house, and your family. The robot begins by “enrolling” the faces and voices of any member of your household who might conceivably give it a command, and then sets out to loosely map the terrain of your home so that it can scoot around without falling down a set of stairs.

Astro also comes fully equipped with what’s known as “Sentry” mode, which enables it to patrol your house for people or events that it doesn’t recognize. Have you seen this episode of Black Mirror before? If not, that’s OK: It’s happening right now, in real time.

For privacy-minded consumers, Amazon touts the fact that Astro is “designed to protect your privacy,” noting that the robot’s microphones, cameras, and sensors can be manually disabled, and that boundary zones can be set so that Astro knows where it’s not allowed to roam. But the reality is that Astro is just another creepy addition to our digital panopticon—an ever-watching, ever-roaming surveillance device that’s designed to memorize and analyze as much of your personal data as possible.

Read original article here

‘Baywatch’ alum Donna D’Errico says she still doesn’t know how to swim: ‘I can’t even tread water’

Donna D’Errico was ready to make a splash for her “Baywatch” audition — except the actress didn’t get one important memo.

“The only thing I had to do was pass a swim test,” the actress told Fox News. “Except I couldn’t swim. I had a serious water phobia. I couldn’t even tread water. The [‘Baywatch’ swim coach] asked me, ‘You could swim right?’ I said, ‘Of course!’ I lied.”

The star recalled how her test took place at the YMCA pool located at California’s Pacific Palisades. The starlet said she was determined to become one of the show’s coveted lifeguards. D’Errico, however, had no idea how she was going to convince an entire crew that she could take a dip — or three — with ease.

“You get to be part of the most-watched show in the world,” said the 53-year-old. “It was the opportunity of a lifetime. And here I am, knowing full well, that I cannot swim. It was all supposed to be basic stuff, nothing technical. But all I kept thinking was, ‘What the heck am I supposed to do?’ I still showed up at 5 a.m. I was told, ‘Get in the pool, do a couple of laps to warm up.’ Here I am holding onto the edge like a terrified child. And he’s like, ‘Donna, what are you doing?’ Go do a couple of laps. It’s freezing in there.’ I couldn’t let go. I was going to sink. And finally, he’s like, ‘Donna, get out of the pool. You can’t swim.’”

LILY JAMES STUNS IN ICONIC RED ‘BAYWATCH’ SWIMSUIT AS PAMELA ANDERSON FOR TV SERIES

Donna D’Errico starred as Donna Marco in ‘Baywatch’.
(Getty Images)

“My initial reaction was, ‘Are you going to tell the producers?'” D’Errico chuckled. “And he’s like, ‘Well, yeah, of course, I’m going to tell them that you can’t swim. This is a show about lifeguards!’ I was so upset because I didn’t want to miss out. So I took swimming lessons with their main guy five times a week at five o’clock in the morning on that pool. I made that drive every morning. And I had a little boy at the time. They gave me fins, which made it easier to swim and tread water.”

Weeks later, D’Errico was given another swim test — and she failed again. She took more lessons and barely passed the following exam. But that didn’t matter — she made it. And D’Errico went on to star in the series as Donna Marco from 1996 until 1998.

“To this day, I still can’t swim,” she admitted. “I’m terrified of water. I can’t even tread water. There’s one scene, and I think it’s the only one, where my character was in the water to do a rescue. And I’m pretty sure I nearly drowned trying to do it. I’m supposed to rescue a boy and you can see my lips saying the f-word trying to swim in this pool. It’s one thing when you have your fins, but it’s another when you don’t have them. You can’t really swim and you’re terrified. I’m pretty sure they never made me do another rescue again. But if you look up that one episode, I’m pretty sure you can see my mouth say the f-word!”

Despite her aquatic mishap, D’Errico insisted she loved being a part of the show and quickly bonded with her castmates.

CLICK HERE TO SIGN UP FOR THE ENTERTAINMENT NEWSLETTER

Donna D’Errico (r) alongside ‘Baywatch’ castmate Traci Bingham.
(Photo by Fiona Hanson – PA Images/PA Images via Getty Images)

“When I first started, I was really nervous because everyone was a gigantic celebrity and there’s me, brand new and shy,” she said. “Even I would think to myself, ‘How did I land this show?’ But I remember one time, I was in my trailer and I had to use the restroom. I was in my swimsuit, and when you’re wearing a one-piece bathing suit, you have to pull the whole thing down. I lifted the toilet seat up, and there’s this massive, foot-long lizard. It was huge. I just flew out of there screaming. I busted that trailer door open, and there’s David Hasselhoff and a couple of crew members laughing hysterically. Luckily I pulled up my swimsuit in time! They were just cracking up. But that set the tone.”

D’Errico noted how Hasselhoff, now 69, was determined to make sure everyone felt welcomed on set.

“He was just a practical jokester,” she said. “He was very lighthearted and was eager to break the ice. That was his way of letting me know to loosen up. And you know, I had a good laugh afterward. It was a very fun, relaxing atmosphere. He was always making people laugh. And I look back on those memories very fondly because everyone was so welcoming. Even when we had to film a tense scene, he would do or say something afterward to get everyone laughing and smiling again. I was always grateful.”

Following her time on “Baywatch,” D’Errico said she was typecast in Hollywood. However, she continued to make her mark as an actress by taking on roles that were completely different from Marco.

CLICK HERE TO GET THE FOX NEWS APP

The Girls Of ‘Baywatch’, circa 1996. From L-R: Traci Bingham, Donna D’Errico, Yasmine Bleeth, Gena Lee Nolin And Nancy Valen.
(Photo By Getty Images)

“I just did ‘Survive the Game’ with Bruce Willis and I was really happy to be cast in a role where I’m sort of the antagonist,” she explained. “I’ve been training with firearms and firearm handling for a very long time. So I was comfortable in that role. And my character Carly is ex-military. I chose to do all my stunts. I trained with the stunt coordinator and the whole stunt team so I could do my fight scenes. That was really cool. It’s not a pretty role. I chose to wear no makeup and have my hair back. Carly’s a tough girl, and it was fun.”

“We just completed Sean Patrick Flanery’s ‘Frank and Penelope,’ which is going to be out next year, and I’m super excited about that,” she shared. “I’m probably more excited about this film and the character than I have been about anything in a really long time. We shot it 12 miles from the Mexican border where it’s hot and desolate. So as a cast, we relied on each other, and it shows on screen. I’m really excited for people to see it.”

‘BAYWATCH’ STAR PAMELA ANDERSON SAYS VEGANS MAKE BETTER LOVERS: ‘I’M FAIRLY CONFIDENT IN THAT STATEMENT’

Donna Donna D’Errico filming a scene for ‘Frank and Penelope’, Sean Patrick Flanery’s directorial debut film.
(Photo courtesy of Tiiu Loigu)

D’Errico is eager for what the future holds for her. But she doesn’t mind looking back at her “Baywatch” past.

“That was pretty life-changing,” she said.

Read original article here

Stock Futures Tread Water After Selloff; Oil Rally Builds

U.S. stock futures paused, a day after a selloff among some of America’s biggest technology firms dragged down broader indexes, while investors also contended with surging energy prices.

Futures tied to the S&P 500 were flat Tuesday, while tech-heavy Nasdaq-100 futures edged up 0.2%, suggesting indexes could recover some of the prior day’s losses. Blue-chip Dow Jones Industrial Average Futures rose 0.1%.

Behind a big chunk of the recent declines: losses for some of America’s biggest tech firms. Major tech stocks are especially sensitive to changes in bond yields, which affect the values that investors ascribe to far-off future profits. 

Those falls took a breather early Tuesday.

Facebook

shares were up 1.3% in premarket trading, a day after an outage shut down its social media and messaging platforms. Facebook whistleblower Frances Haugen is set to testify before Congress on Tuesday.

Beverage maker

PepsiCo

‘s quarterly earnings are due to be reported ahead of the opening bell.

In Asia, stock markets tracked Monday’s losses on Wall Street. In Tokyo, the Nikkei 225 dropped 2.2%, with SoftBank Group, the tech-investing powerhouse that is one of the index’s biggest constituents, shedding 3.8%.

Concerns about China’s property companies, fanned in recent weeks by strains at

China Evergrande Group,

were rekindled by smaller rival Fantasia Group Holdings, which said late Monday it had failed to repay some maturing dollar bonds. Fantasia’s stock was halted from trading, while the Lippo Select HK & Mainland Property index fell more than 3%.

Evergrande, China’s most indebted property developer, has kept markets on edge and sparked protests at home as it struggles to survive.

Elsewhere in the region, South Korea’s Kospi Composite fell 1.9%, while the S&P/ASX 200 in Australia retreated 0.4%. Hong Kong’s Hang Seng Index retraced early losses to gain 0.4%. Mainland Chinese markets were closed for a holiday.

The pan-continental Stoxx Europe 600 rose 0.2%, led by banks, utilities and media companies. 

Investors have confronted a raft of concerns including supply-chain snarls, a seven-year high in oil prices, and expectations that the Federal Reserve will begin to scale back stimulus to fight inflation. The declines have capped an almost uninterrupted rally for U.S. indexes that began in March last year. Investors are settling in for a more challenging period ahead. 

“The equity markets today are worrying more about inflation, the possibility that we’re going to then see higher rates, and the fact that that does undermine the very lofty levels that they have been trading at,” said Rob Carnell, head of research for Asia-Pacific at ING.

The yield on the benchmark 10-Year U.S. Treasury note rose to 1.484% Tuesday, from 1.481% Monday. Yields move inversely to prices.

Meantime, surging energy prices threaten to further weigh on companies just as the earnings outlook is dimming. West Texas Intermediate, the U.S. oil benchmark, rose 0.5% to $78.06 a barrel, its highest level since 2014. Brent crude, the international benchmark rose 0.5% to $81.69 a barrel, its highest level since 2018.

Investors took a very bullish stance into the end of the third quarter, and that probably exacerbated the pullback, said Sean Darby, global equity strategist at Jefferies.  

“Positioning was way too aggressive, and we are probably not going to be in a period of decent macro releases either,” said Mr. Darby. “So I’m not too sure what the market is going to grab onto as a beacon of optimism in the short term.”.

Data on the U.S. trade deficit is due to be released at 8:30 a.m. ET. Economists expect the trade gap widened slightly in August after preliminary data showed exports hit record levels as the global economic recovery gathered pace and imports of consumer goods also rose. 

Also in focus is a survey of service sector purchasing managers that is due at 10 a.m. ET. The Institute for Supply Management’s survey is expected to show activity grew at a slower pace last month than in August amid consumer concerns about the Delta variant of Covid-19.

Concerns about Chinese property companies have been fanned by financial strains at Evergrande.



Photo:

Getty Images/Getty Images

Write to Quentin Webb at quentin.webb@wsj.com and Will Horner at william.horner@wsj.com

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Read original article here

Robinhood Hits College Campuses, Where Credit Card Companies Fear to Tread

Robinhood, the free stock-trading app with 21 million active users and counting, is about to hit the road for a college coffeehouse tour to drum up new customers.

Now where have we heard this one before? Ah, yes, the credit card industry.

The campus antics that the card companies got up to two decades ago were so egregious that they helped lead to a 2009 federal law that made it harder for anyone under 21 to get their products in the first place.

There are some important differences. Credit card issuers can put marks on your record that can keep you from qualifying for an apartment or other services years later. Robinhood is handing out a mere $15 to give each student a taste of investing.

But here’s what they have in common: Both products are habit-forming, and if you get in over your head, the ramifications can be costly.

So let us begin with a history lesson.

First-year college students are a highly desirable pool of prospective customers. They replenish themselves by the millions each year, and most start school with no strong affinity for any particular peddler. And they’re fish in a barrel for the right pitch: A generation ago, card issuers and their marketing firms started turning up on campus with offers of free food or college logo merch to people who completed an application.

“Truly, you had kids signing up for exactly the wrong reason,” said Odysseas Papadimitriou, a former Capital One employee who became intimately familiar with how to work with customers with little credit. “They had no clue how the products worked.”

MBNA, which Bank of America eventually acquired, took things a step further. It cut deals with the schools or their alumni chapters — worth up to seven figures a year — in return for names, addresses and phone numbers so the company could pitch students directly.

Enterprising student journalists and others raised alarm bells, noting that the schools were leading their lambs to the slaughter. Inevitably, politicians and consumer advocacy groups took notice. U.S. PIRG, a consumer group that began on campuses, started showing up for a countercampaign. One of its visuals aped Visa’s logo: Feesa, with a tagline that read “Free gifts now. Huge fees later.”

Then, in 2009, Congress passed the federal credit card act. Among its many provisions was one that kept most people under 21 from getting a credit card without a co-signer.

Is Robinhood destined for a similar fate? It could happen, especially if the markets take a dive and large numbers of customers experience unexpected losses.

Like credit cards back in the day, Robinhood’s service is easy to get and easy to use. (Robinhood’s original gamelike interface was especially appealing to younger investors; students who pry themselves away from the screen long enough to attend class will no doubt be discussing its design prowess in business schools for decades to come.) And as with credit cards — another saturated industry where it’s expensive to swipe customers from competitors — much depends on finding inexperienced people who want to sample your offering.

This is not necessarily a bad thing. If you use credit responsibly early on — and plenty of people do — you start a permanent record that can lead to high credit scores. Similarly, stock market exposure is necessary for most people to retire comfortably, and the earlier you start investing prudently, the better off you are.

But an avalanche of studies over the decades has shown that individuals who trade too often end up with less money than if they had simply left their investments alone. We lock in losses because we’re fearful and grasp too much for winners because of our greed.

Less trading poses a problem for Robinhood. Like some other brokerage firms, it makes money from something called “payment for order flow.” Third parties pay Robinhood for the privilege of executing its customers’ trades, since those parties can themselves make money through clever market maneuvers. You can’t make money from order flow without orders, though.

And there is already evidence that many younger Robinhood investors are getting burned, as my colleague Nathaniel Popper reported last year. Robinhood settled a lawsuit brought by the family of one college student who killed himself believing he had incurred over $700,000 of losses. The frenzied trading in GameStop drew in yet more novices.

Caution flags and other guidance could help, and some of Robinhood’s educational materials are pretty good. They reiterate that necessary point that holding on to investments for a long time can earn you piles of compound interest.

Nevertheless, the company doesn’t offer individual retirement accounts, which can help turn small investments into big nest eggs. Roth I.R.A.s come with tax benefits that are of particular use to college-age, lower-income savers.

In July, Robinhood’s chief executive, Vlad Tenev, said it might add such offerings. A company representative had no additional information to add about any decision or timeline.

Still, there is reason to be skeptical of Robinhood. It recently paid about $70 million in restitution plus a fine — the biggest in the history of the Financial Industry Regulatory Authority — to settle charges of misleading millions of customers and letting others trade investments that were not appropriate for them. And late last year, it paid $65 million to settle Securities and Exchange Commission charges that it had misled users about its use of payment for order flow.

In both cases, the company neither admitted nor denied the charges and findings.

“Investing early is important to building wealth long term, but research shows that the vast majority of young adults have never invested in the stock market,” the company said in a statement. “We want to help educate and empower all investors, including college students, about investing.”

According to Robinhood’s own survey data, its customers are already more racially diverse than those of more established brokerage firms like Fidelity and Charles Schwab. Kudos for that.

But Robinhood has gotten a lot of mileage out of portraying itself as the champion of newer investors and its boast of “democratizing” finance. It has even panned critics who question whether it has the best interests of beginners at heart.

“It’s pretty elitist to suggest that participation in the markets by small investors is gambling, while participation by the wealthy is investing,” the company said in a statement when I raised this issue.

That’s pretty rich, given that no serious person is suggesting that people with low balances are all gamblers. Hopefully, the Robinhood employees and investors who cashed in on the company’s $31 billion initial public stock offering in July won’t turn out to be the elitist types.

Robinhood said its campus tour would be heading to community colleges and historically Black colleges and universities, although it did not name them. Perhaps the teenagers who do trade aggressively at those institutions will somehow achieve above-average results over the long haul.

No doubt some Robinhood investors have come out ahead so far. In a rising stock market, plenty of people do — which made this as good a time as any for Fidelity to introduce a plan of its own to get its adult customers to open accounts for their teenage children.

I was curious whether Robinhood’s coffee shop tour would include the same kinds of financial arrangements with schools as the credit card companies had made, paying for student data. A company statement said that it was not compensating schools for “this specific” partnership. The company declined my suggestion to make a pledge that it would not do so in future partnerships, either.

So let’s assume that these kinds of campus pitches aren’t going away, and that Robinhood remains a central player for a while.

If your future holds an experiment with any trading app, think about it as you might if you were or are a new driver.

Most people don’t learn to drive in a high-performance vehicle. In addition, they often take a weekslong course and learn to be defensive. “I learned to drive in a slow car,” said Ed Mierzwinski, who helped lead the U.S. PIRG credit card countercampaign.

Beginners also usually learn lessons from mistakes. Smaller investment losses can be a very good thing, as I noted in a column last year.

Mr. Papadimitriou, who started the credit and personal finance website WalletHub after his Capital One stint, found himself $20,000 in the hole after losing big on complex bets on Priceline’s stock during a tech stock meltdown two decades ago. Today, he said, he is much more conservative.

If history is any guide, today’s gunslingers will shoot themselves in the foot, lick their wounds and creep back into the market via buying and holding a few basic index or exchange-traded funds.

Until then, however, there will be a fresh crop of teenagers each year, graduating from high schools that taught them little or nothing about personal finance — unleashed from any sort of parental monitoring.

Robinhood would like to buy those students a latte. Good luck to them.

Read original article here

Afghanistan Aid Workers Tread a Tricky Path Under Taliban Rule

Even as American and NATO forces and almost the entire Western diplomatic corps packed up and fled the Afghan capital last month as the Taliban seized control, a handful of international aid directors made a decision: They were staying put.

They are now the most visible representatives of the decades-long Western development mission in Afghanistan, and along with United Nations humanitarian agencies, are the people on the ground negotiating with the Taliban on working conditions for thousands of Afghan employees.

Seven out of eight of the directors who stayed to lead their organizations’ aid efforts in Afghanistan are women.

“There aren’t a lot of us here,” said one of them. “There’s a lot of uncertainty.” She, like others, asked not to be named while relations with the Taliban remain so tentative.

For the past 20 years, military and diplomatic forces from all over the world took over central Kabul, filling a green zone beside the presidential palace with embassies, military bases and residences. But long before they came, nongovernmental development organizations were working to alleviate poverty and help develop essential health and educational services in Afghanistan.

Most of them were careful to distance themselves from the U.S.-led military operations after they began in 2001. They already had experience working with the Taliban, when it ruled the country in the late 1990s and as it gained control of rural districts in recent months and years.

Now, at a time when Afghanistan’s aid needs are more desperate than ever, the aid organizations’ diplomatic skills are being put to the test as perhaps never before.

One of the world’s poorest countries, Afghanistan was already in serious need before the Taliban takeover, with 3.5 million people internally displaced and 18 million people dependent on humanitarian assistance in a country of about 38 million. But aid groups worry about being too quick to embrace an organization like the Taliban with a history of brutality.

“We need to engage, because this is a very important time to engage and try to influence,” said Filippo Grandi, the head of the United Nations refugee agency. “But I think we need to reserve a bit our judgment.”

With some aid groups having as many as 1,500 local staff members employed around the country in critical fields such as health, education and agriculture, the larger organizations say they never contemplated packing up or closing down. Instead, they were left to watch as thousands who had worked in the government or with foreign organizations rushed to the Kabul airport to catch evacuation flights.

“It’s like going through the stages of grief,” one country director said of the takeover by the Taliban on Aug. 15. “When they entered Kabul, I didn’t sleep or eat anything for three days. I was numb. I was on the line with everybody, with staff around the clock.”

After some militants occupied her office, she recalled, she had to manage a tense confrontation as another group dispatched by the Taliban commissioner for foreign assistance wrested it back. Then came the ordeal of evacuating her international staff members through the chaos at the airport.

Some of the organization’s Afghan staff members chose to leave, too, but the vast majority have stayed, in large part because there is no longer a way out.

“I think the point that I accepted I wasn’t going to get out, was the point where I could sleep again,” the country director said. “My staff need me. I think I’ll be fine.”

The most immediate concerns have been to prevent looting of their offices and storehouses and to protect local staff members. The Taliban have asked humanitarian organizations to keep working and assured them that they would provide security, even handing out a phone number to call if armed men pay a visit.

Yet Taliban members have taken over the compound of at least one nonprofit organization and looted equipment and vehicles from others, several aid directors said. And fighters from the powerful Haqqani network have taken over the large campus of the American University of Afghanistan, a proud flagship of American investment in higher education for Afghans.

Besides the danger of so many armed groups, and the threat of the ISIS-K group, which claimed responsibility for a devastating suicide bombing at the airport, there is the growing problem of hunger. Last week, a top U.N. humanitarian official in Afghanistan warned that the organization’s supply of food aid was dwindling and would run out by the end of the month.

And buying food has become difficult for many, impossible for some.

Salaries across the government, including in the health and education sectors, have been halted, a result of a decision by the World Bank and the International Monetary Fund to freeze funding after the government of President Ashraf Ghani collapsed and the Taliban took over. The Central Bank’s assets were also frozen, leading banks to close and limit access to cash. For day laborers, there is no work to be had.

Outside the capital, the attitudes of Afghanistan’s new rulers vary. That has left aid organizations able to resume their usual activities in only four of the country’s 34 provinces.

In some places, everything has been suspended, from schools and health clinics to public offices and businesses. In at least six provinces, women have not been allowed to resume work, according to one of the country directors tracking the situation countrywide.

In some areas, the Taliban have visited nonprofit organizations demanding lists of staff members and assets, information on the organization’s budget and procurement contracts. They also announced that they were imposing restrictions on recruitment. Those actions are at odds with the reassurances offered by the Taliban leadership, and raise concerns about tougher controls ahead.

“They desperately need somebody to do something for the Afghan people,” Mr. Grandi, the U.N. refugee chief, said in an interview at his headquarters in Geneva, adding, “We can help a lot the people, and we must at this point.”

But he warned that humanitarian aid was not going to be enough to stave off a disaster, and urged Western governments to think fast about how to work with the Taliban to restart the larger-scale development aid that was funded through the World Bank and provided health, education and other basic services such as clean drinking water.

“They have to think through the development piece, the institutional piece, the World Bank, the I.M.F. piece quite quickly,” he said. “If you don’t do that, the risk of displacement is big.”

Already, Mr. Grandi said, he has heard the “most extraordinary concern” from European governments fearful of a repeat of 2015, when more than one million Syrian refugees entered Europe.

Further fighting might cause some Afghans to flee their country, he said. So would the imposition of a radical Taliban regime, he added. But a collapse of services and the economy, he warned, could cause a mass of movement of people from Afghanistan.

Nonprofit organizations working out a relationship with the new Taliban rulers say there need to be firm conditions.

Restrictions on women working would not only be an infringement of their rights, but would also have widespread repercussions for how aid is delivered, one country director said. Only women can enter people’s homes and assess needs reliably, and without them, development aid would be administered unfairly, she said.

“It is very important nongovernment organizations have a united front,” she said.

Read original article here

Afghanistan Aid Workers Tread a Tricky Path Under Taliban Rule

Even as American and NATO forces and almost the entire Western diplomatic corps packed up and fled the Afghan capital last month as the Taliban seized control, a handful of international aid directors made a decision: They were staying put.

They are now the most visible representatives of the decades-long Western development mission in Afghanistan, and along with United Nations humanitarian agencies, are the people on the ground negotiating with the Taliban on working conditions for thousands of Afghan employees.

Seven out of eight of the directors who stayed to lead their organizations’ aid efforts in Afghanistan are women.

“There aren’t a lot of us here,” said one of them. “There’s a lot of uncertainty.” She, like others, asked not to be named while relations with the Taliban remain so tentative.

For the past 20 years, military and diplomatic forces from all over the world took over central Kabul, filling a green zone beside the presidential palace with embassies, military bases and residences. But long before they came, nongovernmental development organizations were working to alleviate poverty and help develop essential health and educational services in Afghanistan.

Most of them were careful to distance themselves from the U.S.-led military operations after they began in 2001. They already had experience working with the Taliban, when it ruled the country in the late 1990s and as it gained control of rural districts in recent months and years.

Now, at a time when Afghanistan’s aid needs are more desperate than ever, the aid organizations’ diplomatic skills are being put to the test as perhaps never before.

One of the world’s poorest countries, Afghanistan was already in serious need before the Taliban takeover, with 3.5 million people internally displaced and 18 million people dependent on humanitarian assistance in a country of about 38 million. But aid groups worry about being too quick to embrace an organization like the Taliban with a history of brutality.

“We need to engage, because this is a very important time to engage and try to influence,” said Filippo Grandi, the head of the United Nations refugee agency. “But I think we need to reserve a bit our judgment.”

With some aid groups having as many as 1,500 local staff members employed around the country in critical fields such as health, education and agriculture, the larger organizations say they never contemplated packing up or closing down. Instead, they were left to watch as thousands who had worked in the government or with foreign organizations rushed to the Kabul airport to catch evacuation flights.

“It’s like going through the stages of grief,” one country director said of the takeover by the Taliban on Aug. 15. “When they entered Kabul, I didn’t sleep or eat anything for three days. I was numb. I was on the line with everybody, with staff around the clock.”

After some militants occupied her office, she recalled, she had to manage a tense confrontation as another group dispatched by the Taliban commissioner for foreign assistance wrested it back. Then came the ordeal of evacuating her international staff members through the chaos at the airport.

Some of the organization’s Afghan staff members chose to leave, too, but the vast majority have stayed, in large part because there is no longer a way out.

“I think the point that I accepted I wasn’t going to get out, was the point where I could sleep again,” the country director said. “My staff need me. I think I’ll be fine.”

The most immediate concerns have been to prevent looting of their offices and storehouses and to protect local staff members. The Taliban have asked humanitarian organizations to keep working and assured them that they would provide security, even handing out a phone number to call if armed men pay a visit.

Yet Taliban members have taken over the compound of at least one nonprofit organization and looted equipment and vehicles from others, several aid directors said. And fighters from the powerful Haqqani network have taken over the large campus of the American University of Afghanistan, a proud flagship of American investment in higher education for Afghans.

Besides the danger of so many armed groups, and the threat of the ISIS-K group, which claimed responsibility for a devastating suicide bombing at the airport, there is the growing problem of hunger. Last week, a top U.N. humanitarian official in Afghanistan warned that the organization’s supply of food aid was dwindling and would run out by the end of the month.

And buying food has become difficult for many, impossible for some.

Salaries across the government, including in the health and education sectors, have been halted, a result of a decision by the World Bank and the International Monetary Fund to freeze funding after the government of President Ashraf Ghani collapsed and the Taliban took over. The Central Bank’s assets were also frozen, leading banks to close and limit access to cash. For day laborers, there is no work to be had.

Outside the capital, the attitudes of Afghanistan’s new rulers vary. That has left aid organizations able to resume their usual activities in only four of the country’s 34 provinces.

In some places, everything has been suspended, from schools and health clinics to public offices and businesses. In at least six provinces, women have not been allowed to resume work, according to one of the country directors tracking the situation countrywide.

In some areas, the Taliban have visited nonprofit organizations demanding lists of staff members and assets, information on the organization’s budget and procurement contracts. They also announced that they were imposing restrictions on recruitment. Those actions are at odds with the reassurances offered by the Taliban leadership, and raise concerns about tougher controls ahead.

.

“They desperately need somebody to do something for the Afghan people,” Mr. Grandi, the U.N. refugee chief, said in an interview at his headquarters in Geneva, adding, “We can help a lot the people, and we must at this point.”

But he warned that humanitarian aid was not going to be enough to stave off a disaster, and urged Western governments to think fast about how to work with the Taliban to restart the larger-scale development aid that was funded through the World Bank and provided health, education and other basic services such as clean drinking water.

“They have to think through the development piece, the institutional piece, the World Bank, the I.M.F. piece quite quickly,” he said. “If you don’t do that, the risk of displacement is big.”

Already, Mr. Grandi said, he has heard the “most extraordinary concern” from European governments fearful of a repeat of 2015, when more than one million Syrian refugees entered Europe.

Further fighting might cause some Afghans to flee their country, he said. So would the imposition of a radical Taliban regime, he added. But a collapse of services and the economy, he warned, could cause a mass of movement of people from Afghanistan.

Nonprofit organizations working out a relationship with the new Taliban rulers say there need to be firm conditions.

Restrictions on women working would not only be an infringement of their rights, but would also have widespread repercussions for how aid is delivered, one country director said. Only women can enter people’s homes and assess needs reliably, and without them, development aid would be administered unfairly, she said.

“It is very important nongovernment organizations have a united front,” she said.

Read original article here

Stocks tread water as gold, oil declines spook sentiment By Reuters

2/2

© Reuters. FILE PHOTO: People are reflected on an electric board showing Nikkei index and its graph outside a brokerage at a business district in Tokyo, Japan, June 21, 2021. REUTERS/Kim Kyung-Hoon

2/2

By Matt Scuffham

NEW YORK (Reuters) – Global shares treaded water on Monday as sharp falls in gold and oil prices and concerns over the spread of the coronavirus Delta variant dented sentiment.

U.S. stock indexes were mixed.

The fell 66.11 points, or 0.19%, to 35,142.4, the lost 0.36 points, or 0.01%, to 4,436.16 and the added 39.65 points, or 0.27%, to 14,875.41.

“With the Delta variant spreading, money managers who were over-invested in the re-opening trade continue to unwind that trade because it’s not working right now,” said Dennis Dick, a trader at Bright Trading LLC.

In Europe, gains in healthcare, utilities and technology stocks outweighed declines triggered by a fall in commodity prices earlier on Monday.

The pan-European index rose 0.2% to a closing high of 470.68 points.

MSCI’s gauge of stocks across the globe gained 0.05%.

Oil prices fell as much as 4%, extending last week’s steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.

oil futures settled at $66.48 per barrel, down $1.80 or 2.6%. ended at $69.04, down $1.66 or 2.4%.

“The selloff in commodities is driving growth concerns as some investors are turning cautious,” said Ed Moya, senior market analyst at OANDA.

Gold slumped to a more than four-month low, as strong U.S. jobs data bolstered expectations for an early tapering of the Federal Reserve’s economic support measures.

dropped 2.0% to $1,727.97 an ounce. U.S. settled 2.1% down at $1,726.50.

hit a three-month high, and broke through the $46,000 barrier, as gold fell.

“Money managers are seeing that as an alternative to gold,” said Dick.

Bitcoin last rose 5.99% to $46,486.77.

The strong jobs data also saw U.S. Treasury yields rise.

Benchmark 10-year notes last fell 9/32 in price to yield 1.3187%, from 1.288% late on Friday.

Holidays in Tokyo and Singapore made for thin trading conditions, adding to the volatility. Yet after an initial fall, MSCI’s broadest index of Asia-Pacific shares outside Japan recovered to be up 0.1%.

Chinese trade data out over the weekend undershot forecasts, while figures out Monday showed inflation slowed to 1% in July, offering no barrier to more policy stimulus.

The U.S. Senate came closer to passing a $1 trillion infrastructure package, though it still has to go through the House.

Investors were still assessing whether Friday’s strong U.S. payrolls report would take the Federal Reserve a step nearer to winding back its stimulus.

“What we’re seeing is a little bit of early profit-taking on the back of fear that tapering will come in earlier in September,” said Sebastien Galy, senior macro strategist at Nordea Asset Management. “But as you can see, it has little impact because the effect of a better economy far outweighs the substitution effect of higher interest rates.”

LONGER TAPER

However, the pace of tapering was still up in the air and would decide when an actual rate increase comes, he said. The Fed is buying $120 billion of assets a month, so a $20 billion taper would end the programme in six months while a $10 billion tapering approach would take a year.

The spread of the Delta variant could argue for a longer taper, with U.S. cases back to levels seen in last winter’s surge with more than 66,000 people hospitalised.

Figures for July CPI due this week are also expected to confirm inflation has peaked, with prices for second-hand vehicles finally easing back after huge gains.

Four Fed officials are speaking this week, who will no doubt offer enough grist for markets looking for clues on the timing of tapering.

In the meantime, stocks have been mostly underpinned by a robust U.S. earnings season. BofA analysts noted S&P 500 companies were tracking a 15% beat on second-quarter earnings with 90% having reported.

“However, companies with earnings beats have seen muted reactions on their stock price the day following earnings releases, and misses have been penalized,” they wrote in a note.

“Guidance is stronger than average but consensus estimates for two-year growth suggest a slowdown amid macro concerns.”

The rose 0.051%, with the euro down 0.14% to $1.1744.



Read original article here

Global stocks tread water as gold slides and oil takes a spill

By Ritvik Carvalho and Wayne Cole

LONDON (Reuters) – Global shares treaded water on Monday as sharp falls in gold and oil prices briefly spooked sentiment, while the dollar reached four-month highs on the euro after an upbeat U.S. jobs report lifted bond yields.

European shares were mixed in early trading, as a fall in commodity prices weighed on Britain’s blue-chip index, while other regional indexes stayed near recent highs with earnings season winding down.

The FTSE Eurofirst 300 index was trading flat, Britain’s FTSE 100 index dipped 0.3% and Germany’s DAX 30 fell 0.3%.

MSCI’s All Country World Index, which tracks shares across 49 countries was flat on the day.

Markets were shaken early by a sudden dive in gold as a break of $1,750 triggered stop loss sales to take it as low as $1,684 an ounce. It was last down 1% at $1,745.

Brent also sank 2% on concerns the spread of the Delta variant of the coronavirus would temper travel demand.

Holidays in Tokyo and Singapore made for thin trading conditions, adding to the volatility. Yet after an initial fall, MSCI’s broadest index of Asia-Pacific shares outside Japan recovered to be up 0.1%.

They were helped by China’s blue chips index which added 1.3%. Japan’s Nikkei was shut but futures were trading a modest 20 points below Friday’s close.

Nasdaq futures slipped 0.1% and S&P 500 futures 0.2%.

Chinese trade data out over the weekend undershot forecasts, while figures out Monday showed inflation slowed to 1% in July offering no barrier to more policy stimulus.

The U.S. Senate came closer to passing a $1 trillion infrastructure package, though it still has to go through the House.

Investors were still assessing whether Friday’s strong U.S. payrolls report would take the Federal Reserve a step nearer to winding back its stimulus.

“What we’re seeing is a little bit of early profit-taking on the back of fear that tapering will come in earlier in September. But as you can see, it has little impact because the effect of a better economy far outweighs the substitution effect of higher interest rates,” said Sebastien Galy, senior macro strategist at Nordea Asset Management.

However, the pace of tapering was still up in the air and would decide when an actual rate increase came, he said. The Fed is buying $120 billion of assets a month, so a $20 billion taper would end the programme in six months whilst a $10 billion tapering approach would take a year.

The spread of the Delta variant could argue for a longer taper with U.S. cases back to levels seen in last winter’s surge with more than 66,000 people hospitalised.

Figures for July CPI due this week are also expected to confirm inflation has peaked, with prices for second-hand vehicles finally easing back after huge gains.

There are four Fed officials speaking this week who will no doubt offer enough grist for markets looking for clues on the timing of tapering.

In the meantime, stocks have been mostly underpinned by a robust U.S. earnings season. BofA analysts noted S&P 500 companies were tracking a 15% beat on second quarter earnings with 90% having reported.

“However, companies with earnings beats have seen muted reactions on their stock price the day following earnings releases, and misses have been penalized,” they wrote in a note.

“Guidance is stronger than average but consensus estimates for two-year growth suggest a slowdown amid macro concerns.”

Financials firmed on Friday as a steeper yield curve is seen benefiting bank earnings, while also penalising the tech sector where valuations are sky high.

Yields on U.S. 10-year notes were up at 1.29% in the wake of the jobs report, having hit their lowest since February last week at 1.177%.

That jump gave the dollar a broad lift and knocked the euro back to $1.1760, and briefly to its lowest since April at $1.1740. The dollar likewise climbed to 110.22 yen and away from last week’s trough of 108.71.

That took the U.S. currency index up to 92.882 and nearer to the July peak of 93.194.

Oil prices eased further after suffering their largest weekly drop in four months amid worries coronavirus travel restrictions would threaten bullish expectations for demand. [O/R]

Brent fell $1.29 to $69.41 a barrel, while U.S. crude lost $1.34 to $66.94.

(Reporting by Ritvik Carvalho; additional reporting by Wayne Cole in Sydney; editing by Robert Birsel)

Read original article here