Hutson has five assists, defending champ U.S. routs Germany 10-4 at world juniorsTesla Shares Surge in Gaming! The Future of In-Game Investments?REYKJAVIK, Iceland (AP) — Icelanders will elect a new parliament Saturday after disagreements over immigration, energy policy and the economy forced Prime Minister Bjarni Benediktsson to pull the plug on his coalition government and call early elections. This is Iceland’s sixth general election since the 2008 financial crisis devastated the economy of the North Atlantic island nation and ushered in a new era of political instability. Opinion polls suggest the country may be in for another upheaval, with support for the three governing parties plunging. Benediktsson, who was named prime minister in April following the resignation of his predecessor, struggled to hold together the unlikely coalition of his conservative Independence Party with the centrist Progressive Party and the Left-Green Movement. Iceland, a nation of about 400,000 people, is proud of its democratic traditions, describing itself as arguably the world’s oldest parliamentary democracy. The island’s parliament, the Althingi, was founded in 930 by the Norsemen who settled the country. Here’s what to look for in the contest. Voters will choose 63 members of the Althingi in an election that will allocate seats both by regional constituencies and proportional representation. Parties need at least 5% of the vote to win seats in parliament. Eight parties were represented in the outgoing parliament, and 10 parties are contesting this election. Turnout is traditionally high by international standards, with 80% of registered voters casting ballots in the 2021 parliamentary election. A windswept island near the Arctic Circle, Iceland normally holds elections during the warmer months of the year. But on Oct. 13 Benediktsson decided his coalition couldn’t last any longer, and he asked President Halla Tómasdóttir to dissolve the Althingi. “The weakness of this society is that we have no very strong party and we have no very strong leader of any party,’’ said Vilhjálmur Bjarnson, a former member of parliament. “We have no charming person with a vision ... That is very difficult for us.” The splintering of Iceland's political landscape came after the 2008 financial crisis, which prompted years of economic upheaval after its debt-swollen banks collapsed. The crisis led to anger and distrust of the parties that had traditionally traded power back and forth, and prompted the creation of new parties ranging from the environment focused Left-Green Alliance to the Pirate Party, which advocates direct democracy and individual freedoms. “This is one of the consequences of the economic crash,’’ said Eva H. Önnudóttir, a professor of political science at the University of Iceland. “It’s just the changed landscape. Parties, especially the old parties, have maybe kind of been hoping that we would go back to how things were before, but that’s not going to happen.” Like many Western countries, Iceland has been buffeted by the rising cost of living and immigration pressures. Inflation peaked at an annual rate of 10.2% in February 2023, fueled by the fallout from the COVID-19 pandemic and Russia’s invasion of Ukraine. While inflation slowed to 5.1% in October, that is still high compared with neighboring countries. The U.S. inflation rate stood at 2.6% last month, while the European Union’s rate was 2.3%. Iceland is also struggling to accommodate a rising number of asylum-seekers, creating tensions within the small, traditionally homogenous country. The number of immigrants seeking protection in Iceland jumped to more than 4,000 in each of the past three years, compared with a previous average of less than 1,000. Repeated eruptions of a volcano in the southwestern part of the country have displaced thousands of people and strained public finances. One year after the first eruption forced the evacuation of the town of Grindavik, many residents still don’t have secure housing, leading to complaints that the government has been slow to respond. But it also added to a shortage of affordable housing exacerbated by Iceland’s tourism boom. Young people are struggling to get a foot on the housing ladder at a time when short-term vacation rentals have reduced the housing stock available for locals, Önnudóttir said. “The housing issue is becoming a big issue in Iceland,'' she said. —— Kirka reported from London.
Perhaps this is due to an unwillingness to believe that an upset will occur, or perhaps it is an unwillingness to recognise that the political system in the country, and the material outcomes it delivers for the public at large, matter and should matter to all Namibians. Problems of unemployment, social inequality, housing, access to services, foreign policy and beyond, are national problems. As much as some of us wish to be left alone as individuals, the reality is that even if nothing else, our political and legal system bind us all together. Thankfully, however, for the vast majority of Namibians it is a lot more than just the political and legal systems that bind us together. IGNORANCE Despite the efforts of small groups that seek to divide us, to most Namibians it is unconscionable that within our nation, children go to bed without sufficient food or a roof over their heads, that grandmothers don’t have access to basic medical care, that young people graduate without hope of a job, and that wealth and prosperity is a mere dream for so many. However, similarly, most Namibians do not really know how to get in the ring and fight for change. Politics is a no-go for many, as it is painted as unpatriotic to suggest that a certain policy proposal may cause more harm than good, and that being even vaguely critical of the status quo is somehow sacrilegious, as if the status quo is working well and only naysayers and the inherently bearish can find even mild signs of failure. Moreover, a perception (probably reality) exists that criticising the status quo, however well intended, will be treated harshly by the powers that be, and in a heavily regulated economy, those powers are both plentiful, and plenty powerful. And so, while many do see the challenges our country faces – close to 50% unemployment, a third of the population living in shacks, half the population without access to electricity – most keep their head down. It is but a few of us fools that tilt at policy windmills to try and change things for the better. The sane put on their blinkers and play the game, languish in the status quo, or at best quietly start or operate businesses and create jobs – an enormous and thankless challenge in this hyper-overregulated and strangulating business environment. But even if one casts aside the altruism and care for fellow man espoused above (I do not recommend this, but let’s do the thought experiment), a generally underperforming economy with high levels of unemployment, poverty and inequality is not a stable environment. There is an old saying that explains that the people you should fear are those with nothing and everything to lose. With close to 50% of the population unemployed, many for decades, we certainly have a lot of Namibians with nothing to lose. Thus, why anyone is surprised when radical demagogues get support for radical reform promises, however unrealistic, is the real question. LACK OF DIALOGUE A common issue in Namibia is that we lack places of dialogue and engagement. Development is nuanced, and a lack of trust and engagement is all too common. Add to this that dissent is equated to disloyalty or worse, and you have a recipe for failure. So we look for ways, but sometimes inefficient and not always constructive ways, of debating in the public square. I, like many, am guilty of the 280-character social media battles, which massively constrain the ability to discuss nuance. Rent-control debates are a relevant example here. I have disagreed with members of parliament on this on Twitter (I am too old to call it X), as it is an economically illiterate “solution” to a real problem. However, this disagreement can easily be misinterpreted to suggest that one doesn’t see or care about the underlying problem – this couldn’t be further from the truth. High property prices (rental and ownership) are largely driven by supply-side issues, with the main issue being access to serviced land, and addressing this underlying issue will address a large portion of the problem. Another consideration, however, and all roads tend to lead back to this, is unemployment. It doesn’t matter how cheap houses are – if you have no income, they will be unaffordable. Both of these are issues we have been very public about, and recommended real solutions to, for literally decades. The very same applies to my engagements with Job [Amupanda]. While I have no time for his racial lens and outdated political ideology, I appreciate that he shines a light into a number of the county’s darkest areas, areas which need be illuminated in the public and policymaker’s minds. The issues he identifies around housing, corruption, education and inequality, are real issues and need to be addressed. However, where we fundamentally disagree is on the method of resolve – the solutions. In this regard, I can be unequivocal in saying that the solution to these real problems is not an omnipotent government ruled by an autocrat – that model has been tried and has failed, repeatedly. SOLUTION The solution to most of these problems is a highly focused government that provides a small number of specific services well, and a flourishing entrepreneurial sector creating jobs and paying tax. Not state mega-projects, as these have a record of failure the world over. In this regard, government should support all business activity, but purely through provision of public infrastructure, a good business climate and enabling/catalytic measures. Being dependent on one or two sectors, hand-picked by a subset of the (perhaps smart) people in the country, will always be limiting. Hydrogen is a great example of this. The great exception I take with green hydrogen is simply that its proponents have created a distraction by pretending they will create far more jobs than they will. The example I give is this: if a friend tells you they will bring the meat for a braai, you stop thinking about it because someone else has it covered. If they pitch up with no meat, you have a problem. The green hydrogen crowd has promised us meat (jobs), and now pitched up with nothing but yesterday’s salad. Thus, it is far more sensible to have a large number of contributors to the national pot, than to focus on one to two chosen contributors. MULTI-PARTY DEMOCRACY But enough of why our political system matters, and on-to the ‘upset’. Any sensible assessment of Namibia’s socio-economic data makes it clear that Namibia, like most of the region, is headed for a more legitimate multi-party democracy. In South Africa, the ANC has fallen below 50% in the National Assembly, while in Botswana, 58 years of Botswana Democratic Party (BDP) rule have just come to a peaceful end. Our nationally representative polling on Namibia, the only such polling that exists, has repeatedly shown that Swapo will fall well below 50% in the National Assembly election, possibly as low as 35%, and that Netumbo Nandi-Ndaitwah will likely be marginally less popular than the party, meaning a run-off election between the top two candidates is likely. A run-off will be a first for the country, and based on our data, would result in significant changes. Firstly, a large portion of those that voted for candidates that didn’t make it through the first round will shift their vote to Itula (the other front runner). Secondly, so too would a number of first-round Nandi-Ndaitwah supporters, especially if her first-round result is weak. While we can’t be sure why this is, and can only backfill the data, it makes sense to us that a number of voters are, like elsewhere in the world, voting against the status quo. At the same time, a number of those that appear to support the status quo are likely to be more loyal to the powerbase than they are to a party or candidate, and thus a clear change in majority direction will likely result in a significant swing in “powerbase supporters” to Itula. We don’t see much, beyond election interference (which we see as unlikely but not impossible), that can change this at this point, as most voters seem to have made up their minds as to where to place their cross. As a result, the relevant question is not how to avoid or change this outcome (given the socioeconomic issues in the country, it is hard to see why you would want to if not for self-serving reasons alone), but how do we make a new dispensation work and how do we use this change to improve the lives of all Namibians, especially those most left behind. ‘INSURMOUNTABLE CHALLENGE’ Frankly, for a nation with a small population and plentiful resources, to turn things around is not an insurmountable challenge. It does, however, require some unity and interest in the common good. Politicians will need to work across the political aisle with a focus on the nation first, but businesses and the government too will have to improve their working relationship, as will government and the public. In this regard, there’s a long overdue admission needed from the government that every job creator and every taxpayer is a national asset, and their contributions to making Namibia a better place are vital. The business sector needs to raise its head and stop being apologist for all the good we do, but at the same time develop a spine and stop pretending that bad policy isn’t bad, or isn’t our problem, for fear of reprisal. At the same time, we should (obviously) conduct our business ethically, and call out bad actors amongst ourselves, while helping new businesses to establish and thrive. Finally, as hard as it is to hear, some patience is needed from young people who have been left behind for so long. Turning the ship in the right direction can be done and done quickly, but reaching the destination will take a bit of time. However, shortcuts to utopia never actually lead there, and there is a legitimate road to walk to ensure a successful Namibia for all. The key message, however, remains that Namibia has many challenges, and to put one’s head in the sand and hope that others address them, is no solution. Change is coming, and all Namibians should be looking to use this change to better the country. We all have a role to play. – Rowland Brown is the co-founder of Cirrus Capital.
NASHVILLE, Tenn (AP) — Nico Iamaleava threw for 257 yards and four touchdowns rallying No. 7 Tennessee from a 14-point deficit within the first five minutes to rout in-state rival Vanderbilt 36-23 Saturday. “Man, it couldn't have started any worse,” Tennessee coach Josh Heupel told his Vols postgame . “And you know what? Competitive composure ... You just kept coming. That's what elite people, champions do. You just keep coming.” The Volunteers (10-2, 6-2 Southeastern Conference; No. 8 CFP) needed a big victory to impress the College Football Playoff committee enough to earn a home playoff game in December. They beat Vanderbilt (6-6, 3-5) for a sixth straight season leaving the Commodores needing to win their bowl game to post their first winning record since 2013. Better yet, the Vols rebounded from a nightmare start giving up the first 14 points by scoring 29 straight points. They led 24-17 at halftime on Iamaleava's first three TD passes. “Once they took the momentum, we kind of allowed them to have it for the rest of the game," Vanderbilt coach Clark Lea said. "And you got to credit Tennessee. I mean, obviously, they were playing for the playoffs and credit coach Heupel and his team for their winning performance.” Junior Sherrill returned the opening kickoff 100 yards for a touchdown for Vanderbilt to stun a mostly orange crowd. Dylan Sampson fumbled on the Vols’ second play from scrimmage, and Sedrick Alexanader's 4-yard TD run on a 26-yard drive put Vandy up 14-0 quickly. Then Iamaleava got Tennessee going with a 28-yard TD pass to Dont’e Thornton Jr. Tennessee got a break when Max Gilbert's 50-yard field goal bounced off the crossbar and over. Iamaleava found Thornton again on an 86-yard catch-and-run TD, then he tossed an 18-yard TD pass to Miles Kitselman just before halftime. Iamaleava capped the opening drive of the third quarter hitting Mike Matthews with a 14-yard TD pass for a 31-17 lead. The Vols added a safety by Tyre West and another Gilbert field goal. Diego Pavia threw a 31-yard TD pass to Richie Hoskins late with Vandy's 2-point conversion failing for the final margin. Tennessee didn't make a good early impression with yet another slow start. The Vols need to hope for some help to have a chance at moving up a spot or two . The big question is whether the Vols get to host a playoff game in December at Neyland Stadium where they went undefeated this season. Tennessee put together TD drives of 91 and 96 yards in the first half alone. The Vols then beat Vandy at its own game of keepaway after not even managing 10 minutes of possession in the first half. They finished with the edge in that stat outgaining Vandy 538-212. Vanderbilt had some of the best offensive success against Tennessee of any opponent this season. The Commodores had 114 yards rushing and 17 points by halftime against a defense that came in ranked sixth nationally allowing just 98.8 yards a game. The Vols had been fourth in the country giving up just 13.1 points a game having held 10 of 11 opponents under 20 points this season. But Lea said the Commodores ran just 11 plays to Tennessee's 44 after halftime. The Tennessee running back, who set the program record with 22 rushing TDs this season, didn't reach the end zone for the first time this season. Sampson finished with 178 yards rushing to reach 1,485 yards for the season, topping the school mark of 1,464 set by Travis Stephens in 2001. Tennessee waits to hear its spot in the CFP field, while Vanderbilt learns its bowl destination Dec. 8. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football.
Shares of MARA Holdings, Inc. ( NASDAQ:MARA – Get Free Report ) traded up 7.8% during trading on Thursday . The stock traded as high as $27.32 and last traded at $26.92. 87,699,203 shares traded hands during mid-day trading, an increase of 56% from the average session volume of 56,155,012 shares. The stock had previously closed at $24.97. Wall Street Analyst Weigh In MARA has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of MARA in a research note on Wednesday, November 13th. Macquarie lifted their target price on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Barclays started coverage on shares of MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MARA has an average rating of “Hold” and an average target price of $23.33. Get Our Latest Report on MARA MARA Trading Up 1.9 % MARA ( NASDAQ:MARA – Get Free Report ) last released its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. Equities analysts forecast that MARA Holdings, Inc. will post -1.02 EPS for the current fiscal year. Insider Transactions at MARA In other news, Director Jay P. Leupp sold 11,200 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $27.06, for a total transaction of $303,072.00. Following the completion of the transaction, the director now directly owns 142,556 shares of the company’s stock, valued at $3,857,565.36. This trade represents a 7.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here . Insiders sold 146,822 shares of company stock valued at $2,702,877 in the last 90 days. 0.97% of the stock is currently owned by insiders. Institutional Trading of MARA A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of MARA by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after purchasing an additional 378,542 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MARA by 261.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after acquiring an additional 2,340,472 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in MARA by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock worth $43,086,000 after acquiring an additional 217,106 shares during the period. Bank of New York Mellon Corp raised its holdings in MARA by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in MARA by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,391,916 shares of the business services provider’s stock valued at $22,577,000 after acquiring an additional 37,150 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock. MARA Company Profile ( Get Free Report ) MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida. Further Reading Receive News & Ratings for MARA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MARA and related companies with MarketBeat.com's FREE daily email newsletter .
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