Archive

January 23, 2025

Browsing

South Sudanese authorities have suspended access to social media platforms for a minimum of 30 days after videos depicting the alleged killings of South Sudanese nationals in Sudan’s El Gezira state triggered riots and deadly revenge attacks.

The block was to be implemented at midnight on Wednesday, Napoleon Adok, director general of the National Communications Authority, wrote in a letter dated Wednesday to internet service providers.

“This is culminating from the recent upheaval in Sudan, that has exposed the South Sudanese population to unprecedented levels of extreme violence through social media posts,” Adok wrote in the letter seen by Reuters.

Customers of mobile operators MTN South Sudan and Zain would not be able to access Facebook, TikTok and other platforms for a maximum period of 90 days, the companies said in statements issued on Wednesday.

A Reuters reporter in Juba was unable to access Facebook or TikTok. At least 16 Sudanese nationals were killed last week when riots erupted in South Sudan’s capital Juba and elsewhere in the country.

Youths in several cities looted and vandalized shops owned by Sudanese nationals and burned several homes, police said, in retaliation for what they believed was the involvement of Sudan’s military and allied groups in the killings in El Gezira.

The Sudanese army has condemned what it called “individual violations” in El Gezira.

“The effect is a bit huge because as an artist, I depend so much on social media,” said Isaac Anthony Lumori, also known as Mc Lumoex, a popular South Sudanese musician and founder of a comedy show.

“My message to the government is to seek an amicable way of solving this issue, especially engaging the government of Sudan to make sure that (their) army does not misbehave to the extent of taking human life,” he told Reuters.

This post appeared first on cnn.com

The British navy said Wednesday that it is ramping up measures to protect its waters from secret Russian operations after identifying a Russian spy vessel in UK waters for the second time in weeks.

The Russian spy ship, called Yantar, sailed through the English Channel this week, according to the Ministry of Defence (MoD). As it sailed through the Channel, it was flanked by HMS Somerset, the ministry said.

The Yantar had first entered British waters in November and “loitered” over critical undersea infrastructure, it said, adding that after receiving a warning from a British submarine, it left the UK for the Mediterranean but has since returned.

The episode comes amid heightened concerns of Russian sabotage in international waters amid Russia’s war in Ukraine and a string of other incidents in the Baltic Sea.

British Defence Secretary John Healey said the UK was strengthening its protection of cables and other offshore infrastructure in the Baltic Sea, providing maritime patrol and surveillance aircraft to aid NATO’s efforts.

“My message to President Putin is clear. We know what you are doing, and we will not shy away from robust action to protect Britain,” Healey said Wednesday.

It will deploy an advanced AI system, known as Nordic Warden, for the same purpose, Healey said. This was announced by the British government following damage to the Estlink2 undersea cable between Estonia and Finland in December.

“Alongside our Joint Expeditionary Force and NATO allies, we are strengthening our response to ensure that Russian ships and aircraft cannot operate in secrecy near UK or NATO territory.

“We will continue to call out the malign activity that Putin directs, cracking down on the Russian shadow fleet to prevent funding for his illegal invasion of Ukraine.”

Kremlin spokesperson Dmitry Peskov declined to comment on the UK’s statement during a briefing with journalists on Thursday. Asked about the claim that Yantar sailed through the English Channel this week, Peskov said he was “not really familiar with the subject” without elaborating further.

This post appeared first on cnn.com

“I would prefer to stay out of politics,” Elon Musk told his followers in 2021, on the platform then known as Twitter. Plenty has changed since then.

Musk now owns the social media giant, renamed X and repurposed as his personal soapbox. He has welcomed back far-right agitators banned under previous ownership. Musk spent a quarter-billion dollars to help reelect Donald Trump as United States president, and stood a few feet away as Trump took the oath of office on Monday.

Now, with that task complete, the world’s richest man appears to have a new goal: upend Europe, one government at a time.

The mogul has cast himself as kingmaker in the populist wave that is submerging multiple centrist European leaders. “From MAGA to MEGA: Make Europe Great Again!” he posted on Saturday, reveling in the unease he is bringing to the continent.

Several European Union leaders have accused him of interfering in their affairs and promoting dangerous figures; Musk has waged a brutal and personal online campaign against Britain’s government, rallied for a far-right activist there to be released from prison, and endorsed a far-right party in Germany with a staunchly nationalist platform and a string of scandals relating to some of its members’ views on the Nazi era.

At the same time, a torrent of misinformation on Musk’s platform – plenty of it born from anger over high levels of migration – has unnerved Europe’s governments. Some in Britain blame it for contributing to a wave of far-right riots last summer.

But X’s reach, Musk’s extreme wealth and his role as an efficiency adviser to Trump make him a difficult problem to deal with. Political figures in Europe are grappling with two questions: Why does Musk care about us, and what can we do about it?

Neither is easy to answer. “The Europeans are stuck,” said Bill Echikson, senior fellow in tech policy at the Center for European Policy Analysis (CEPA) think tank, and a former European communications head for Google.

Leaders on the continent “certainly are worried,” he said. “They certainly blame disinformation and trolling and automated bots for causing problems with European elections and fostering the rise of their extremes.

“(But) they don’t have any plan. They don’t really know how to respond yet.”

‘An effort to cancel him’

Musk’s politics have evolved at supersonic speed since the SpaceX and Tesla mogul conducted a hostile takeover of Twitter in 2022. “For Twitter to deserve public trust, it must be politically neutral,” he insisted then. He described politics as a “sadness generator” and wrote: “Politics is war and truth is the first casualty.”

Today, Musk is on the front lines. The platform’s owner enjoys levels of disruptive influence around the world that few unelected figures have ever held, without facing the scrutiny of voters. He hails and shares the views of radical figures, and has backed fiercely anti-establishment populists around Europe. It’s not yet clear how much sway he will have on Trump’s foreign policy – and that’s precisely why, for now, European governments are so uncertain about how to tackle his interventions.

But his comments chime with a wider, interventionist tone towards Europe coming from the new administration, and could set up Musk for a role as an interlocutor. Trump and Musk have already forged close ties with figures whose politics at least partially overlap, like Italian Prime Minister Giorgia Meloni, an immigration hardliner who attended the inauguration in a break with precedent.

Some of those who have previously advanced Trump’s interests in Europe now see Musk as an unfettered, even less polished version of the president; an agitator whose style and ambition has come to mirror Trump’s. As with Trump, opinion polls suggest Musk is unpopular across Europe.

“It’s interesting to see the similarities between he and (Trump); their ability to try to drive public opinion, especially, unfortunately by disseminating disinformation. Creating a lot of chaos, being disruptors,” Nelson said.

That chaos intensified after Musk made a gesture with his right arm on stage during a post-inauguration rally, which to some in Europe bore uncomfortable similarities to the Nazi or Roman salute used by fascist leaders in Germany and Italy. Musk has presented the reaction as a misinterpretation, writing on X that “the ‘everyone is Hitler’ attack is sooo tired.”

Italian and German outlets heavily covered the backlash, with Italian daily Corriere Della Sera dubbing it a “RoMusk salute,” and German chancellor Olaf Scholz – a frequent target of Musk’s barbs – telling a panel at the World Economic Forum in Davos, Switzerland: “Everyone is free to express their opinion in Germany and Europe, including billionaires… but we do not accept support for far-right positions.” Musk responded on X: “Shame on Oaf Schitz!”

There is disagreement about why, exactly, Musk is targeting Europe.

It could be personal. “When Elon took over Twitter there was a concerted effort to shame companies out of advertising on his platform, to alienate him, to cancel him,” said Trevor Traina, Trump’s previous ambassador to Austria, where a far-right party is on the cusp of power. “So Elon has had a taste of the same bitter medicine that Donald Trump and others have been force-fed, and I think what we see today is his response.”

Or it could be financial; a more time-tested story that pits the innovator against the regulators. “I think his purpose is always thinking about his own business interests,” Nelson said.

Musk has railed against red tape surrounding the tech sector in Europe; he runs a huge Tesla factory in Germany, a country where he has focused much attention, and is planning a contentious expansion of that site.

Can Europe fight back?

When it comes to Europe’s politics, Musk has his favorites. He writes often about Reform UK, the populist British party, and Germany’s far-right Alternative for Germany (AfD). But he doesn’t post about Marine Le Pen, the French antagonist to Emmanuel Macron’s government, nor does he seem interested in Austria.

British and German politics are supple terrain; the mainstream parties in both countries are uniquely unpopular, tainted either by inflation-struck or scandal-ridden stints in power, or viewed by much of the public as unimaginative, unambitious or technocratic. Germany will hold an election next month in which the AfD could place second. Just last year, the AfD became the first far-right party to win a state election in Germany since the Nazi era.

And they have something else in common: Each country has failed to adequately grapple with public anger over immigration, which is threatening to become the continent’s defining political dynamic.

Still, Musk will need to build lasting alliances to have serious influence. He has already publicly fallen out with Nigel Farage, the Reform leader, who refused to back his support for jailed far-right figurehead Tommy Robinson. Reform is still hoping for a massive financial donation from Musk, but the feud has dampened the party’s optimism.

He will also face regulatory landmines. A fine, possibly reaching 6% of X’s global annual turnover, is looming once the EU completes an investigation into whether X broke rules put in place by the sweeping Digital Services Act, which regulates how the tech industry handles misinformation and illegal content on social media, as well as illegal goods and services on online marketplaces.

In Britain, Musk has been asked to testify to the parliamentary Science, Innovation and Technology Committee about his company’s algorithm, after it was blamed for promoting misinformation about a tragic stabbing of children last summer that resulted in rioters clashing with police and setting hotels housing asylum seekers on fire.

For now, Musk’s proximity to Trump might shield him from such scrutiny. “I don’t expect (Europe) to do too much; they don’t want to ignite a war with Donald Trump,” Echikson said.

But the more entangled the tech mogul becomes in Europe’s affairs, the more strained that approach becomes. “If he is, as it looks like he is, entering politics,” Onwurah said, “then as part of that, you have to listen as well as talk.”

This post appeared first on cnn.com

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.