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Entertainment

Watch Normani Shock Jordan Chiles With a Video Message

Jordan Chiles is really living his dream. Just a few weeks after winning the silver medal at the Tokyo Olympics, the 20-year-old gymnast received a warm video message from Normani. At an appearance Access dailyJordan reflected on her stormy life since the Summer Games and mentioned a recent Instagram comment she received from the pop superstar. That then prompted the hosts to pull up the surprise video.

“I’m really trying to keep my composure because I’m actually a superfan and I’m really proud of your trip. Congratulations on winning the silver in Tokyo. I see you girls. Keep up the good work,” said Normani. “Keep working hard, keep emitting black girl magic because you make me very, very proud. I live through you because I used to be a gymnast, but sister, I knew I wouldn’t go to the Olympics. “Jordan held back tears and said,” I wasn’t expecting that at all. ” Check out the sweet surprise at 2:51 in the video above.

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World News

With a Ban on Navalny’s Group, Putin Sends a Message to Biden

MOSCOW – A court on Wednesday ruled the political movement of Aleksei A. Navalny as extremist, a notable broadside from President Vladimir V. Putin, who also sent a message to President Biden ahead of their meeting next week: Russian internal affairs are not up Discussion.

The judicial decision – almost certainly with the blessing of the Kremlin – seemed to push the resistance against Putin further underground after years of efforts by the Russian government to suppress dissenting opinions entered a new, more aggressive phase for several months. Under the law, Mr Navalny’s organizers, donors or even social media supporters could now face criminal prosecution and face jail terms.

The ruling increases the commitment of the Geneva summit to Mr Biden, who has promised to defend himself against Mr Putin’s violation of international norms. But the Russian President has said that while he is ready to discuss cyberspace and geopolitics with Mr Biden, he will not have talks about how he governs his country. The question is how much Mr Biden accepts these demands.

“The views on our political system can be different,” Putin told the heads of international news agencies last week. “Please give us the right to organize this part of our life.”

The June 16 Geneva meeting will come after months in which Mr Putin has dismantled much of what remains of Russian political pluralism – and made it clear that he would ignore Western criticism.

Mr Navalny was arrested in January after returning to Moscow after recovering from poisoning carried out by Russian agents last year, according to Western officials. Since then, thousands of Russians have been arrested during protests; opposition leaders have been imprisoned or forced into exile; Online media were branded as “foreign agents”; and Twitter and other social networks have come under pressure from the government.

“The state has decided to fight all independent organizations with total bombing,” said Nawalny’s anti-corruption foundation – one of the groups declared extremist on Wednesday – in a Twitter post anticipating the verdict.

The Kremlin denies having played any role in the campaign against Navalny and his movement and insists that Russia’s judiciary is independent. However, analysts and lawyers largely see the courts as subordinate to the Kremlin and the security services, especially in politically sensitive cases.

Mr Putin has already signaled that he will reject any criticism of the Kremlin’s handling of the Navalny case by claiming that the United States has no power to teach others. At Russia’s annual economic conference in St. Petersburg last week, Putin repeatedly referred to the January arrests of Capitol rioters in Washington when challenged over repression in Russia or its ally Belarus.

“Look at the sad events in the United States where people refused to accept the election results and stormed Congress,” Putin said. “Why are you only interested in our non-systemic opposition?”

The “non-systemic opposition” is the Russian term for factions that are not represented in parliament and that openly demand Putin’s impeachment. For years they were tolerated, even if they were closely monitored and often persecuted. The court’s ruling on Wednesday signaled that this era of tolerance is coming to an end.

Prosecutors harassed Navalny and other opposition activists, mostly on pretexts such as violating rules for public gatherings, laws unrelated to their political activities, or, more recently, anti-gathering regulations designed to limit the spread of the coronavirus.

Behind the scenes, according to Western governments and human rights groups, the Kremlin had gone further: murdering or expelling journalists, dissidents and leaders of the political opposition in exile. Mr Navalny only barely survived an attack with a chemical weapon last summer. In 2015, another opposition leader and former First Deputy Prime Minister of Russia, Boris Y. Nemtsov, was shot dead with a pistol. But officials denied any role in these actions.

The dissolution of Mr Navalny’s nationwide network marked a new phase in the fight against dissent through a formal, legal process to dissolve opposition organizations despite the country’s 1993 Constitution guaranteeing freedom of expression.

The Kremlin’s campaign against the opposition increased after Navalny returned from Germany in January, where he received medical treatment after the neurotoxin attack. Police arrested Mr. Navalny at the airport and a court sentenced him to two and a half years in prison for violating parole on conviction in a case of embezzlement alleged by a human rights organization to be politically motivated.

In power since 1999, either as Prime Minister or President, Mr Putin has gradually tightened the screws on dissent and opposition. In a long twilight of post-Soviet democracy during his rule, elections took place, the internet remained largely free, and opposition was tolerated to a limited extent. His system has been called “gentle authoritarianism”.

But prosecutors this spring demanded that the court outlaw Mr Navalny’s move by using a term that compares its members to terrorists without bothering to publicly argue that the nonprofits were, in fact, seditious organizations . The evidence was classified and the case was held behind closed doors in a Moscow courtroom.

A lawyer representing the organizations, Ivan Pavlov, who had access to the evidence but was not empowered to disclose it, said after a preliminary hearing that it was not convincing and that he would publish as much as the law allows . Within a few days, police arrested Mr. Pavlov on charges of divulging secret evidence in another unrelated case, in what looked like a warning to avoid an aggressive defense of Mr. Navalny’s organization. He faces up to three years in prison.

According to Russian legal experts, the anti-extremism law offers a lot of scope for comprehensive action against the opposition in the coming days or months, but it remains unclear how it will be enforced.

According to the law, the organizers of the group face prison sentences of up to 10 years for continuing their activities. Anyone who donates money can be punished with up to eight years in prison. Public comments such as social media posts in favor of Mr Navalny’s groups could also be prosecuted in support of extremists.

The case was directed against three non-profit groups, Navalny headquarters, the Anti-Corruption Fund and the Civil Rights Defense Fund. In a preliminary ruling last month, the court ordered the activities of some of these groups to be suspended.

Pending the final verdict, Mr. Navalny’s staff disbanded one of the groups, Navalny’s headquarters, which operated its network of 40 political offices, before the court had a chance to designate it as an extremist group. Mr Navalny’s staff said they hoped some offices would continue to operate as independent, local political organizations.

“Unfortunately, we have to be honest: it is impossible to work in these conditions,” said an adviser to Mr Navalny, Leonid Volkov, in a YouTube video, warning that continuing the operation would prosecute supporters of the opposition leader. “We are officially dissolving the network of Navalny offices.”

When they announced the case in April, prosecutors argued that Mr Navalny’s groups were in fact riotous organizations disguised as a political movement. In a press release, the prosecutor said that “under the guise of liberal slogans, these organizations are busy creating conditions for the destabilization of the social and socio-political situation”.

Since he is forbidden from founding a political party, Mr Navalny has worked for various non-governmental organizations instead. Despite relentless pressure from the Russian authorities, these groups have for years insisted on promoting an anti-corruption campaign that frustrated and embarrassed Mr Putin, and have often used social media to great effect.

Mr Navalny’s movement was the most prominent in Russia, openly calling for Mr Putin’s ousting through elections, and its supporters say the Kremlin is determined to crush those efforts before they can bear fruit.

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Business

Sanctions on Russian Debt Are Known as a ‘First Salvo’ That Sends a Message

Biden’s administration on Thursday prevented American banks from buying newly issued Russian government bonds, signaling the use of a key weapon in Washington’s intensified conflict with Moscow and threatening Russia’s access to international finance.

The debt limit was part of new measures against Russia, primarily including sanctions against dozens of companies and individuals, as well as the expulsion of 10 diplomats from the Russian embassy in Washington. The moves are aimed at taking advantage of the weak Russian economy to pressure Moscow to ease its campaign to disrupt US political life and threaten Ukraine. The restrictions on debt purchases that apply to bonds issued by the Russian government after June 14 could increase the cost of borrowing in the Russian economy and limit investment and economic growth.

This threat remains tiny for the time being. According to the Russian Central Bank, Russian public debt held outside the country is around $ 41 billion – a relative amount in the world economy. By comparison, the US Treasury Department spent a total of US $ 274 billion in national debt in the first three months of this year alone.

The Russian government sells most of its debt domestically and finances much of its operations by selling energy. According to Oxford Economics in London, American investors hold only 7 percent of Russia’s ruble-denominated national debt.

As a symbolic step, experts say, the measures outlined by the Biden government signal its willingness to take a step-by-step approach that could lead to tougher measures, such as tightening Russia’s access to capital markets if Moscow does not moderate its activities.

“This step may not and should not be considered the final step in the process,” said Adnan Mazarei, a former International Monetary Fund official and now a senior fellow at the Peterson Institute for International Economics in Washington. “The day of arbitrary sanctions policy may be over. It will be a process that is much more subject to calibration. “

By marginally threatening Russia’s access to global markets, the Biden administration appears to be implementing a strategy similar to the United States’ strategy of isolating Iran. Successive American governments have attempted to pressure Iran to forego nuclear capacity development and to withdraw from supporting the Middle East insurgents by curtailing their links to the global financial system.

In business today

Updated

April 15, 2021, 6:56 p.m. ET

But Russia would be a far more difficult isolating power.

The United States and its allies in Europe are generally aligned in their objectives with Iran, although European business interests seek access to the potentially huge Iranian market. In contrast, Russia is an important supplier of energy to all of Western Europe. Russia is on the doorstep of the region and allows the European heads of state and government – especially Germany – to reject major conflicts.

Restricting Russia’s access to international bond markets amounts to “nibbling on the edges,” said Simon Miles, a Russia expert at Duke University. A major hit would threaten the Russian natural gas market in Western Europe.

Previous sanctions have denied Russia access to certain types of food and technology. The latest package targets Russia’s basic economic health as a pressure point.

“The signs are that the Biden government wants to make it hurt a little more,” said James Nixey, director of the Russia-Eurasia program at Chatham House, a research facility in London. “This is just a first volley.”

The United States ultimately separated Iran from the global financial system, which Washington could do since the American dollar is the world’s reserve currency, the medium of exchange for transactions around the world. Every bank around the world doing business for Iran risked being cut off from the international payments network and denied access to dollars.

Russia has very limited borrowing from abroad as it has greatly reduced its deficits following the sanctions imposed following the annexation of Crimea in 2014.

“We have seen a period of austerity and austerity since that sanctions shock,” said Elina Ribakova, deputy chief economist at the Institute of International Finance, a trade association that represents international banks. “You have prepared.”

Thursday’s Russian Debt Ordinance only applies to American financial institutions, but it could prompt multinational corporations outside the U.S. to recalculate the risks of transactions with the Russian government.

“It’ll get you noticed if you want,” said Mr. Nixey. “Every company that plays a significant role in Russia listens to this very, very carefully, wondering if it’s a good idea, if it’s a good idea in terms of reputation or political risk, if it’s theirs Business of the same volume as it is supposed to continue. “

Andrew E. Kramer contributed to reporting from Moscow.

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World News

North Korea’s Message to Biden: ‘Chorus From Inflicting a Stink’

SEOUL – North Korea issued its first warning shot against the Biden government on Tuesday, denouncing Washington for conducting joint military exercises with South Korea and for causing “a stink” on the Korean peninsula.

North Korea released its statement hours before Secretary of State Antony J. Blinken and Secretary of Defense Lloyd J. Austin III began meeting officials in Japan ahead of a trip to South Korea later this week. The visits were intended to strengthen alliances in the region, where the threat of North Korean nuclear weapons and the growing influence of China were seen as major foreign policy challenges.

The statement was the first official comment on the North Korean Biden government.

“We are taking this opportunity to warn the new US administration that is trying hard to give off a powdery smell in our country,” said Kim Yo-jong, sister of North Korean leader Kim Jong-un, in a statement from the North Korean state Media on Tuesday. “If it wants to sleep in peace for the next four years, it should be better not to cause a smell the first step.”

Ms. Kim’s statement was the first indication that North Korea has plans to sway the new administration’s policies by increasing the prospect of renewed tension on the peninsula, analysts said.

“Kim Yo-jong’s statement was a press release to the United States and South Korea,” said Yang Moo-jin, a professor at the University of North Korean Studies in Seoul. “As senior officials meet in Seoul this week to discuss their North Korea policy, the North warns them to choose wisely between dialogue and confrontation.”

Ms. Kim, who serves as her brother’s spokesperson on North Korea’s relations with Seoul and Washington, devoted most of her statement to criticizing Seoul for pushing ahead with the month’s annual military exercises with the United States, despite her brother’s warnings.

Mr. Blinken and Mr. Austin were due to fly to South Korea on Wednesday to meet with President Moon Jae-in and other senior South Korean leaders. Dealing with North Korea’s growing nuclear and missile threats is high on the agenda. During a meeting with officials in Tokyo, Blinken said the United States would work with allies to achieve a free and open Indo-Pacific region, and that “one element of that is the denuclearization of North Korea.”

The Biden administration has announced that it will undertake a comprehensive review of American policy towards North Korea. Since the collapse of talks with former President Donald J. Trump in 2019, Mr Kim has said there is no point in continuing negotiations unless Washington first offered terms his country could accept. This includes the lifting of sanctions and the ending of US military exercises in the Korean peninsula in exchange for steps towards denuclearization.

The Biden government has tried to reach North Korea through multiple channels for the past few weeks, but Pyongyang has not responded, according to the White House. Analysts said the silence was part of the north’s printing tactics.

“The allies have little time to coordinate their approaches to deterrence, sanctions and engagement,” said Leif-Eric Easley, professor of international studies at Ewha Womans University in Seoul.

In her statement, Ms. Kim accused South Korea of ​​opting for “March War” and “March Crisis” instead of “March Warmth” by launching joint military exercises that the North has labeled as rehearsals for the invasion.

Under Mr. Trump, Washington and Seoul suspended or scaled back joint military exercises to support diplomacy with Mr. Kim. After three meetings, Mr Trump’s talks with Mr Kim collapsed with no agreement on how to end North Korea’s growing nuclear and missile capabilities.

Still, the United States and South Korea have significantly reduced the scope of this year’s spring military exercise and run it as a computer simulation with little troop movement. South Korea said the exercise had been minimized this year due to the pandemic and a desire to keep the diplomatic dynamic with North Korea alive. She urged the North to become “more flexible” and not create tension, as has often happened in response to the annual exercises.

On Tuesday, Ms. Kim called South Korea’s diplomatic aspirations “ridiculous, cheeky and stupid”. She warned that North-South Korean relations would continue to deteriorate as Seoul crossed a “red line”.

“War exercises and hostilities can never go hand in hand with dialogue and cooperation,” she said. “They will bring a biting wind in the spring days of March that is not expected by everyone.”

She did not elaborate on what the “biting wind” would mean. However, she indicated that North Korea could potentially abolish its Committee for the Peaceful Reunification of the Country, saying that the ruling Labor Party organization, which focuses on dialogue with the South, “has no reason to exist”. She also warned that North Korea might consider denouncing a joint North-South Korean military agreement that Mr. Kim and Mr. Moon signed in 2018 during a short-lived rapprochement.

North Korea blew up an inter-Korean liaison office last year, ending the entire official dialogue with Seoul. Speaking at the Congress in January, Mr. Kim warned that the return of inter-Korean relations to a “point of peace and prosperity” would depend on South Korea’s conduct. North Korea has accused Seoul of failing to convince the United States to make concessions for Pyongyang or to improve inter-Korean economic relations, regardless of Washington’s wishes.

After his meetings with Mr. Trump failed to lift the sanctions, Mr. Kim vowed to continue advancing his country’s nuclear capabilities. At the convention, he said North Korea would build new solid fuel ICBMs and make its nuclear warheads lighter and more precise.

Analysts have been watching North Korea closely for the past week to see if it would provoke Washington by conducting missile or other weapons tests before Mr Blinken and Mr Austin arrive in Asia.

So far this has not happened.

“Kim Jong-un’s top priority right now is home. It is focused on business and improving people’s lives,” said Yang, a professor at the University of North Korean Studies in Seoul.

The North Korean economy was devastated by the pandemic. And Mr Kim, who has admitted his economic policy has failed, said he had focused on building a “self-contained” economy in the face of international sanctions.

But even if North Korea didn’t greet Mr. Blinken and Mr. Austin with a missile test, Ms. Kim’s testimony signaled that the country expects the Biden administration to act lightly. North Korea is likely to build up tensions soon for leverage, said Shin Beom-chul, an analyst at the Korea Research Institute for National Strategy in Seoul.

“They will launch short-range conventional missiles first and will likely consider launching an ICBM,” Shin said. “You are pressuring the Biden administration to make concessions while it reviews US policy towards North Korea.”

Lara Jakes contributed to coverage from Tokyo.

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Business

The Mayor’s Home Was Bombed. The Message: Hold Our City Nuclear-Free.

SUTTSU, Japan – It seemed easy money. The Japanese government conducted a study of potential spent fuel storage locations – a review of old geological maps and research into local plate tectonics. It called on the localities to volunteer. Participation would not oblige them to anything.

Haruo Kataoka, the mayor of a troubled fishing village on the north island of Hokkaido, raised his hand. His city of Suttsu could use the money. What could go wrong?

The answer, he learned quickly, was a lot. A resident threw a fire bomb on his house. Others threatened to remember the city council. A former prime minister traveled six hours from Tokyo to denounce the plan. The city, which spends much of the year in a snow-covered silence, was surrounded by a media storm.

There are few places on earth that want to host a nuclear waste dump. Only Finland and Sweden have committed to permanent repositories for the dregs of their nuclear energy programs. However, the excitement in Suttsu speaks to the deep concern that persists 10 years after a huge earthquake and tsunami in Japan that caused the collapse of three nuclear reactors in Fukushima Prefecture, the world’s worst nuclear disaster since Chernobyl.

The black mark on Japan’s nuclear industry has profound implications for the country’s ability to power the world’s third largest economy while meeting its commitments to tackle climate change. Of the more than 50 Japanese nuclear reactors, all of which were shut down following the March 11, 2011 disaster, only nine have restarted and the problem remains politically toxic.

With Japan’s share of nuclear power falling from roughly a third of total output to single-digit levels, the void has been partially filled by coal and natural gas, complicating the promise that the country was climate neutral by 2050 at the end of last year.

Even before the Fukushima disaster, which resulted in three explosions and a radiation release that forced the evacuation of 150,000 people, ambivalence about nuclear energy was deeply ingrained in Japan. The country is ravaged by hundreds of thousands who were killed by the atomic bombings on Hiroshima and Nagasaki at the end of World War II.

Still, most Japanese had resigned themselves to nuclear energy and viewed it as an inevitable part of the energy mix for a resource-poor country that has to import around 90 percent of the materials used to generate electricity.

After the nuclear disaster, public opinion swung decisively in the other direction. In addition to a renewed fear, there was a new distrust of both the nuclear industry, which had built reactors that could be overwhelmed by a natural disaster, and the government, which had allowed it to do so.

A parliamentary commission found that the meltdown was due to a lack of control and collusion between the government, the plant owner and regulators.

“The utilities, the government, and we nuclear experts kept saying, ‘Don’t worry, there won’t be a major accident,” said Tatsujiro Suzuki, director of the Research Center for the Abolition of Nuclear Weapons at Nagasaki University. Now, “people think that the industry is not trustworthy and the government that is driving the industry is not trustworthy. “

The Japanese government, which has increased safety standards for nuclear power plants, plans to bring more reactors back into operation. But Fukushima’s legacy is now tainting all discussions about nuclear power, even how to deal with waste created long before the disaster.

“Every normal person in town thinks about it,” said Toshihiko Yoshino, 61, the owner of a fish shop and oyster hut in Suttsu, who has become the face of opposition to the mayor.

“Because this kind of tragedy happened, we shouldn’t have nuclear waste here,” Yoshino said in an interview in his restaurant, where large picture windows look out over the snow-capped mountains above Suttsu Bay.

Politics surrounding garbage shows for now that if it is not buried under suttsu, it will find its way to a similar place: a city worn down by the collapse of local industry and the constant wear and tear of its population through migration and Age.

The central government has tried to motivate local governments to volunteer for examination by offering a payment of around $ 18 million for the first step, a literature search. Those who enter the second phase – a geological study – will receive an additional $ 64.4 million.

Only one other city in the whole country, the neighboring Kamoenai – already next to a nuclear power plant – volunteered with Suttsu.

One thing that Fukushima made clear, said Hirokazu Miyazaki, a professor of anthropology at Northwestern University who studied how communities were compensated after the disaster, is the need to find a just way to meet the social and economic costs Distribute nuclear power.

The problem is symbolized both by the partially uninhabitable cities of Fukushima and by a fight over the government’s plan to release one million tons of treated radioactive water from the site into the ocean.

The government says it would make small publications for over 30 years without harming human health. Fukushima fishermen say the plan will ruin their long road to recovery.

“We have this potentially dangerous technology and we are still relying on it. We need to have a long-term view of nuclear waste and decommissioning so we can better think about a much more democratic way to deal with the costs involved,” Miyazaki-san said in an interview.

Critics of nuclear energy in Japan often cite decades of failure to find a solution to the waste problem as an argument against restarting the country’s existing reactors, let alone building new ones.

In November, former Prime Minister Junichiro Koizumi brought his anti-nuclear campaign to Suttsu at the invitation of local activists. At the city’s gym, he said that after visiting Finland’s underground landfill – a facility similar to that proposed by the Japanese government – he decided that Japan’s active geology would make it impossible to find a working site.

Japanese reactors have produced more than 18,000 tons of spent fuel in the last half century. A small portion of it was converted to glass through a process known as vitrification and encased in huge metal canisters.

Nearly 2,500 of the giant radioactive tubes are in temporary facilities in Aomori and Ibaraki Prefectures, waiting to be lowered 1,000 feet below the surface into vast underground vaults. There they would spend thousands of years reducing their toxic burden.

It will take decades, if at all, to select a location and get the project started in earnest. The Japanese organization for the disposal of nuclear waste, known as NUMO and represented by a cartoon mole carefully sticking its snout out of a hole, is responsible for finding a final resting place.

Long before he accepted NUMO’s offer to conduct a study in his city, Mr. Kataoka, the mayor of Suttsu, had taken an entrepreneurial stance on government subsidies.

Suttsu has a population of just under 2,900, spread thinly along the rocky edge of a deep Cerulean Bay, where fishing boats forage for mackerel and octopus. Starting in 1999, Mr. Kataoka supported an initiative to install a stand for towering wind turbines along the coast with government-supported loans.

Many in town initially opposed it, he said during an interview in his office, but the project has delivered nice returns. The city used the profits from the sale of electricity to pay off debts. City residents have free access to a heated pool, golf course, and modest ski slope with a tow. In addition to an elegant community center, there is a free day-care center for the few residents with children.

The facilities are not uncommon for the small town of Japan. Many places have tried to prevent its decline by spending large sums on white elephant projects. In Suttsu the effect was limited. The city is shrinking, and in early March snow lay on the eaves of newly built but closed shops along the main street.

Mr. Kataoka nominated Suttsu out of a sense of responsibility to the nation for the NUMO program. The subsidies, he admitted, are a nice bonus. But many in Suttsu question the intentions of Mr. Kataoka and the government. The city, they argue, doesn’t need the money. And they wonder why he made the decision without public consultation.

At a city council meeting on Monday, residents expressed concern that once the trial began, it would quickly pick up and become unstoppable.

The plan has severely divided the city. Reporters have come and flaunted the discord at the national level. A sign in the hotel at the port makes it clear that the staff does not accept interviews.

In October, an angry resident threw a Molotov cocktail at Mr. Kataoka’s house. It broke a window, but he smothered it with no further damage. The perpetrator was arrested and is now out on bail. He apologized, said Mr. Kataoka.

The mayor remains confused by the aggressive response. Mr. Katatoka insists that the literature research is not an fait accompli and that citizens will have the final say.

In October he will run for a sixth term. He wants voters to support his proposal, but whatever the outcome, he hopes the city can move forward together.

Losing the election would be a bad one, he said, but “the saddest part of it all was losing the city’s trust.”

Motoko Rich contributed to coverage from Tokyo.

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Business

GameStop’s Inventory Rises, Spurred on By Reddit Message Board

Millions of amateur stock traders collectively take on some of Wall Street’s most discerning investors. They have piled up in deals with companies that other investors had written off and brought stock prices to stratospheric levels.

The main focus is on GameStop, the troubled video game retailer. The stock is up 1,700 percent this month, including Wednesday’s 135 percent gain. AMC Entertainment rose 300 percent on Wednesday and BlackBerry rose more than 275 percent this month.

Soaring stocks have broken away from the factors that traditionally help determine a company’s value to investors – such as growth potential or earnings. But the traders that pile up likely don’t think about these basics.

Instead, they’re part of a frenzy that apparently sprang up on a Reddit message board, WallStreetBets, a community known for disrespectful market discussions, and messaging platforms like Discord. (One comment from WallStreetBets read, “Put your LIFTOFF diapers on.”) Both Tesla’s Elon Musk and billionaire tech investor Chamath Palihapitiya have encouraged the crowd on Twitter.

Encouraged by the message boards, these traders are rushing to buy options contracts that will benefit from a surge in the stock price. And that trading can create a feedback loop that drives up underlying stock prices as brokerage firms selling the options have to buy stocks as a hedge.

As more traders purchase options, brokers have to buy more stocks, which is driving the staggering surge in the company’s stock prices. GameStop started the year at $ 19 and ended trading at nearly $ 348 on Wednesday.

Another reason stocks are rising so fast is because, until recently, they have been heavily targeted by large investors who bet that stocks would fall by taking short positions. As stocks rise, shorters must also buy the stock to reduce their losses, and this triggers what is known as a short squeeze – a sudden surge in the value of the stock.

Gabe Plotkin, the hedge fund trader whose Melvin Capital short-sold GameStop, confirmed to CNBC on Wednesday that he left his position after he launched a $ 2.75 billion bailout from Citadel and former boss Steve Cohen in the had taken a short time. Mr. Plotkin’s other short bets seem to be suffering, possibly because they are being targeted by dealers – Melvin and Mr. Plotkin are often denounced on message boards.

Jen Psaki, White House press secretary, said Wednesday that the Biden administration’s economic team is “monitoring” the situation related to volatile trading in some stocks.

Officials from the Securities and Exchange Commission and elsewhere closely monitor internet chat rooms for signs of possible market manipulation, when there is only so much they can do without clear evidence of fraud. When a large group of traders simply chooses to simultaneously buy options on a stock outdoors, it can be difficult to prove wrongdoing.

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Politics

Charlottesville Impressed Biden to Run. Now It Has a Message for Him.

“We can band together and stop the screaming and lower the temperature,” Biden said. “Because without unity there is no peace – only bitterness and anger.”

In interviews this week, Charlottesville activists, religious leaders and civil rights groups who survived the events of 2017 urged Mr. Biden and the Democratic Party to go beyond unity as the ultimate political goal and prioritize a sense of justice that the historically excluded. When Mr Biden called Mrs Bro on the day he entered the 2019 presidential race, she urged him on his political commitments to correct racial inequalities. She declined to support him and focused more on supporting the anti-racism movement than on any individual candidate.

Local leaders say this is the legacy of the Summer of Hate as the white supremacist actions and violence of 2017 in Charlottesville are well known. When the election of Mr. Trump and the violence that followed pierced the myth of a racial America, especially among white liberals, these leaders committed themselves to the long arc of protecting democracy from white supremacy and misinformation.

“We were the canary in the coal mine,” said Jalane Schmidt, an activist and professor who teaches at the University of Virginia and who participated in activism in 2017. Comparing the current political moment with the aftermath of the civil war, she formulated the decision to join Mr Biden’s government either as a commitment to profound changes similar to reconstruction or as part of the compromise that brought it to an end.

“We have a big political party that is too big and supports undemocratic practices, the suppression of voters and the indulgence of these conspiracy theories,” said Dr. Schmidt, referring to Republicans. “So healing? Unit? You can’t do that with people who don’t adhere to basic democratic principles. “

Rev. Phil Woodson, the associate pastor of the First Methodist United Church, who was among the counter-protesters who stood up to the mob in 2017, said: “As much as Charlottesville may have been the impetus for his presidential campaign, Joe Biden did not do it in Charlottesville. “

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Business

As Trump Reels, Fox Information Has a Message for Viewers: Stick With Us

Tucker Carlson, its president, his cable network at a crossroads, started his show Thursday night and asked a question that has been repeated for weeks among anchors and producers at Fox News: “What will life be like for us on January 21st? ”

“Who’s got your concerns in mind? Who wakes up in the middle of the night worried about your family? “Mr. Carlson asked his flock, admitting that Mr. Trump would be gone in two weeks,” and we can’t help it. “

“The rest of us – and that is the key – will still be here,” he continued. “We have nowhere to go.”

The impending end of the Trump presidency has presented the hugely popular, hugely profitable Fox News – the crown jewel of Rupert Murdoch’s American empire – with a challenge whose right-wing stars have tied more closely to Mr. Trump than any other mainstream pundit over the last four years.

Prime-time hosts such as Mr. Carlson and Sean Hannity spoke grimly about possible election fraud and irregularities. But privately, high-profile figures on the network admitted that it was difficult to pull the needle between the president’s false (and potentially defamatory) fraud claims and the demands of an audience that is growing, given the discrepancies between Mr. Trump’s lies and coverage of Fox Confused was news that Joseph R. Biden Jr. was elected President on November 7th.

Fox News executives are unimpressed by the lamentations of liberal critics, but the migration of conservative viewers to frayier pro-Trump outlets like Newsmax has been more worrying. The prospect of Trump TV, a competing media company run by the president himself, also loomed.

Now, after the violence in the Capitol and Mr. Trump’s increasing isolation within his own party, Fox News is finding a way forward: Sympathize with the complaints of a Trump-loving audience who have finally acknowledged that their bleachers have fallen. Become a secure MAGA room.

“Tens of millions of Americans don’t stand a chance. You are about to be crushed by the ascendant left, ”claimed Mr. Carlson. “These people need a defense attorney. You need a defense attorney. “It wasn’t hard to deduce who he had in mind.

Expecting a U-turn from Fox News – or an apology as some liberals may dream – has not studied its history or that of its owner, Mr Murdoch, whose ability to adapt to political change is only matched by his reluctance to face Kowtow to critics.

With the Democrats coming to power in Washington, Fox News pundits are kicking out the old hits. In his Friday program, which aired shortly after Twitter announced that it had banned the president from his platform, Hannity promised more broadly to “expose the breathtaking hypocrisy of the Democrats and the media mob”. He attacked well-known Fox News bad guys like the Clintons, Obamas, Madonna and comedian Kathy Griffin. It could have been a repeat from 2014. (Mr. Hannity had actually pre-recorded his 9pm show a few hours earlier.)

Taking advantage of the news that Twitter had closed Mr. Trump’s account, Mr. Carlson, who was live on Friday, warned viewers that “America’s civil liberties are imminent” and portrayed liberals as hell-bent on silencing conservative views bring to. But he only uttered the word “Trump” twice over the entire hour.

It took a moment for the Fox News hosts to recalibrate after the week’s shocking and violent events.

Several network stars, notably host Laura Ingraham and political analyst Brit Hume, spread an unsubstantiated theory that left activists – not Trump supporters – were responsible for the violence in the Capitol. (Ms. Ingraham later tweeted a debunking of the theory.) A guest on Mr. Carlson’s Wednesday show made the same unsubstantiated claim about the infiltration of Antifa without the host pushing it back. And news anchor Martha MacCallum initially compared the siege at the heart of American democracy to a minor graffiti incident in the home of a Republican senator.

The transition of the president

Updated

Jan. 8, 2021, 10:32 p.m. ET

There were cracks in the firmament on Thursday amid a spate of resignations at the White House and a growing chorus of Republicans declaring it was time for Mr. Trump to leave. “Raising a Trump flag and removing the American flag is not patriotic – it was one of the worst things I’ve ever seen,” said Brian Kilmeade on Fox & Friends. The false rumors of Antifa involvement were recalled and the hosts criticized the violence in Washington.

Still, no prime-time Fox News star has blamed Mr. Trump for his role in sparking the riot at the Capitol. And instead of counting on years of support from Mr. Trump and giving consolation to his supporters, the network’s commentators have simply turned and found new ways to achieve old goals. In the Fox News universe, Mr. Biden is now a socialist ready to change the American way of life. And many hosts have drawn a direct correspondence between the storming of the Capitol by an anti-democratic mob and the Black Lives Matters protests in support of racial justice that summer.

As repugnant as such rhetoric may be to liberals, it is part of a formula that Fox News, which remains the profit engine of Mr. Murdoch’s Fox Corporation, has seldom failed.

The network’s ratings fell after Election Day and it has fallen heavily in ratings to CNN since the Capitol uprising. But in 2020, Fox News was the third busiest network in the country on weekday prime-time. It wasn’t just cable news; It was all television. Only CBS and NBC ranked higher.

Fox News’ biggest stars, meanwhile, remain in place. Ms. Ingraham announced a new multi-year contract in December, and Mr. Carlson and Mr. Hannity also have long-term contracts, according to someone who knows the ins and outs of the network. With all the hype surrounding Newsmax, ratings have dropped from their highs after the election.

And if Mr Murdoch ever feels the need to distance himself more formally from Mr Trump, he has other platforms on which to do so. In November another Murdoch organ, the New York Post, announced Mr Biden’s victory on a cheery front page. After the Capitol riots this week, Murdoch’s own Wall Street Journal called for Mr. Trump to resign.

Mr. Murdoch and his son Lachlan, who is the chief executive officer of Fox Corporation, had no comment, a representative said.

Trump TV, which could have been a significant challenge for Fox News in 2021, now appears to be less of a threat. Industry experts say the reputational damage Mr Trump has sustained as a result of the riots – and his abandonment by allies and donors – has seriously affected his ability to start a viable competitor of Fox News.

“This was not positive news,” said Christopher Ruddy, a confidante of Mr. Trump and CEO of Newsmax.

Starting a new network requires approval from cable dealers like Charter Communications and Comcast (which Mr. Trump happily referred to as “Concast”), companies that may be under heavy public pressure not to partner with Mr. Trump after his presidency.

Even digital news outlets, like the websites of former Fox News stars Bill O’Reilly and Glenn Beck, need help from mainstream tech companies that may be resisting an association with the Trump brand.

“The outlook is now severely limited,” said Christopher Balfe, a conservative media advisor who developed digital platforms for stars like Beck and Megyn Kelly. “You have a real distribution problem. And now that Facebook and Twitter have taken action, they have opened the door to a more comprehensive de-platform. “

Referring to a traditional television station, Mr Balfe said cable operators “weren’t interested before November 6th and they certainly won’t be interested in taking anything from him after January 6th”.

Still, some television veterans say Mr. Trump’s millions of supporters could keep a media broadcast going regardless of corporate concerns.

“There will always be a company willing to make money hosting their service,” said Jonathan Klein, former president of CNN.

Mr. Klein pointed out that Comcast and other cable retailers run Newsmax and One America News “despite the fictions they committed”. Regrettably, he added that the violent events at the Capitol could even serve as a launch pad for a niche media show aimed at audiences who want to hear more from Mr. Trump.

“He might have seen it as his biggest kickoff event,” said Klein.

Categories
Politics

Pence Will Be Vaccinated on Dwell TV, Including to Administration’s Combined Virus Message

WASHINGTON — At 8 a.m. on Friday, Vice President Mike Pence will roll up his sleeve to receive the coronavirus vaccine, a televised symbol of reassurance for vaccine skeptics worried about its dangers. President-elect Joseph R. Biden Jr. is scheduled to receive his injection on camera next week.

Notably absent from any planned public proceedings is President Trump, who has said relatively little about the vaccine that may be seen as a singular achievement and has made it clear that he is not scheduled to take it himself.

The vaccine may provide a ray of hope at a time when the surging coronavirus is regularly killing around 3,000 Americans a day. But the message on the virus from the Trump administration’s highest officials remains muddled and often contradictory as they continue to toggle between facing reality and trying to dictate an alternate one.

Mr. Pence, who will receive his first vaccine shot and encourage Americans to follow suit almost six months to the day after he published an op-ed in The Wall Street Journal titled “There Isn’t a Coronavirus ‘Second Wave,’” hosted a holiday party at his residence this week where guests mingled in an outdoor tent and posed for pictures without masks, according to attendees.

Secretary of State Mike Pompeo was forced into quarantine after being exposed to someone who had tested positive for the coronavirus after hosting a string of large, indoor holiday parties at the State Department and attending a private party Saturday to watch the annual Army-Navy football game. Only one unofficial adviser in the president’s circle has performed a public mea culpa for his earlier disregard of public health guidelines: Chris Christie, the former New Jersey governor, who on Wednesday released a television ad urging Americans who do not wear a mask to learn from his own harrowing medical experience and wear one.

The president, who recovered from his own bout with the virus after being treated with experimental drugs at Walter Reed National Military Medical Center, is described by aides and allies as preoccupied with the election results he still refuses to accept, and has shown no interest in participating in any kind of public health message.

Even in private conversations, they said, Mr. Trump rarely even brings up the vaccine that the White House press secretary, Kayleigh McEnany, described this week as a “medical miracle” that the president, “as the innovator,” deserved credit for.

Instead, Mr. Trump has been focused on his efforts to overturn the election results and consumed by his anger at Senator Mitch McConnell, the majority leader, who this week finally congratulated Mr. Biden on his victory and said that “the Electoral College has spoken.” And he remains frustrated that the vaccine was not available before Election Day, people who have spoken to him said.

But the president is also aware that a large part of his political base is made up of supporters who refuse to wear masks and so-called anti-vaxxers suspicious of the Covid-19 vaccine. After months of positioning himself in opposition to public health experts, people familiar with his thinking said, Mr. Trump feels on some level as if he does not want to be seen as caving in the end to the advice of the same people he has disparaged.

Some supporters with large online followings have even criticized him in recent days for promoting the vaccine at all. “You know, Trump, probably 80 percent of your base does not want that vaccine,” DeAnna Lorraine, a QAnon conspiracy theorist with a large following on Infowars, said on her program last week. “I don’t care who takes it. I don’t care if Jesus takes it. I’m not taking the vaccine.”

As Mr. Trump hesitates, lawmakers and Supreme Court justices are expected to begin receiving vaccines in the coming days, though the doses will be limited. Dr. Brian P. Monahan, the Capitol physician, wrote to lawmakers on Thursday that he had been notified by the National Security Council that his office would receive a “specific number” of doses to “provide for continuity-of-government operations.” He told lawmakers they could begin scheduling appointments to be vaccinated and suggested eventually some “continuity-essential staff members” could also receive doses.

“My recommendation to you is absolutely unequivocal: There is no reason why you should defer receiving this vaccine,” Dr. Monahan wrote. “The benefit far exceeds any small risk.”

Covid-19 Vaccines ›

Answers to Your Vaccine Questions

With distribution of a coronavirus vaccine beginning in the U.S., here are answers to some questions you may be wondering about:

    • If I live in the U.S., when can I get the vaccine? While the exact order of vaccine recipients may vary by state, most will likely put medical workers and residents of long-term care facilities first. If you want to understand how this decision is getting made, this article will help.
    • When can I return to normal life after being vaccinated? Life will return to normal only when society as a whole gains enough protection against the coronavirus. Once countries authorize a vaccine, they’ll only be able to vaccinate a few percent of their citizens at most in the first couple months. The unvaccinated majority will still remain vulnerable to getting infected. A growing number of coronavirus vaccines are showing robust protection against becoming sick. But it’s also possible for people to spread the virus without even knowing they’re infected because they experience only mild symptoms or none at all. Scientists don’t yet know if the vaccines also block the transmission of the coronavirus. So for the time being, even vaccinated people will need to wear masks, avoid indoor crowds, and so on. Once enough people get vaccinated, it will become very difficult for the coronavirus to find vulnerable people to infect. Depending on how quickly we as a society achieve that goal, life might start approaching something like normal by the fall 2021.
    • If I’ve been vaccinated, do I still need to wear a mask? Yes, but not forever. Here’s why. The coronavirus vaccines are injected deep into the muscles and stimulate the immune system to produce antibodies. This appears to be enough protection to keep the vaccinated person from getting ill. But what’s not clear is whether it’s possible for the virus to bloom in the nose — and be sneezed or breathed out to infect others — even as antibodies elsewhere in the body have mobilized to prevent the vaccinated person from getting sick. The vaccine clinical trials were designed to determine whether vaccinated people are protected from illness — not to find out whether they could still spread the coronavirus. Based on studies of flu vaccine and even patients infected with Covid-19, researchers have reason to be hopeful that vaccinated people won’t spread the virus, but more research is needed. In the meantime, everyone — even vaccinated people — will need to think of themselves as possible silent spreaders and keep wearing a mask. Read more here.
    • Will it hurt? What are the side effects? The Pfizer and BioNTech vaccine is delivered as a shot in the arm, like other typical vaccines. The injection into your arm won’t feel different than any other vaccine, but the rate of short-lived side effects does appear higher than a flu shot. Tens of thousands of people have already received the vaccines, and none of them have reported any serious health problems. The side effects, which can resemble the symptoms of Covid-19, last about a day and appear more likely after the second dose. Early reports from vaccine trials suggest some people might need to take a day off from work because they feel lousy after receiving the second dose. In the Pfizer study, about half developed fatigue. Other side effects occurred in at least 25 to 33 percent of patients, sometimes more, including headaches, chills and muscle pain. While these experiences aren’t pleasant, they are a good sign that your own immune system is mounting a potent response to the vaccine that will provide long-lasting immunity.
    • Will mRNA vaccines change my genes? No. The vaccines from Moderna and Pfizer use a genetic molecule to prime the immune system. That molecule, known as mRNA, is eventually destroyed by the body. The mRNA is packaged in an oily bubble that can fuse to a cell, allowing the molecule to slip in. The cell uses the mRNA to make proteins from the coronavirus, which can stimulate the immune system. At any moment, each of our cells may contain hundreds of thousands of mRNA molecules, which they produce in order to make proteins of their own. Once those proteins are made, our cells then shred the mRNA with special enzymes. The mRNA molecules our cells make can only survive a matter of minutes. The mRNA in vaccines is engineered to withstand the cell’s enzymes a bit longer, so that the cells can make extra virus proteins and prompt a stronger immune response. But the mRNA can only last for a few days at most before they are destroyed.

Dr. Monahan began notifying lawmakers who were eligible for vaccines, and Mr. McConnell and Speaker Nancy Pelosi indicated they would be among the first vaccinated.

Public health officials said they were pleased that the vice president was going to be vaccinated in public, along with Surgeon General Jerome Adams, despite the president’s own lack of interest in sending a similar public health message.

“It’s the right thing to do,” said Dr. Vinay Gupta, an assistant professor of pulmonary and critical care medicine at the University of Washington. “The question is why don’t they do it together, six feet apart? It would be really powerful for the president, who has gotten exceptional treatment, to say that even in spite of getting the best care, it’s important that I get this vaccine.”

Mr. Trump’s decision, so far, to not get vaccinated, Dr. Gupta said, risked undermining any confidence that Mr. Pence might instill among skeptics who take their cues from the president alone.

“The fact that he is not getting it makes one wonder if he’s worried,” Dr. Gupta said. He also said the muddled messages from the administration — hailing the vaccine while hosting holiday parties — risked “giving false reassurances to the American people that the vaccine is here and vigilance is no longer required.”

White House officials have said Mr. Trump does not need to get vaccinated because he still has the protective effects of the monoclonal antibody cocktail that was used to treat him for the virus in October. But Dr. Gupta said that was a misinterpretation of the results and that there was “no scientific reason not to get vaccinated.”

The first lady, Melania Trump, who tested positive for the virus in October and credited her recovery to a regimen of “vitamins and healthy food,” also has no plans to receive the vaccine in public. A spokeswoman, Stephanie Grisham, declined to say whether Mrs. Trump would get vaccinated.

Mr. Trump said on Sunday that he would delay a plan for senior White House staff members to receive the coronavirus vaccine in the coming days, hours after The New York Times reported that the administration was planning to rapidly distribute the vaccine to its staff.

“I am not scheduled to take the vaccine,” Mr. Trump added, “but look forward to doing so at the appropriate time.”

But many White House officials are eager to receive the vaccine, even as the president has made it clear he wants them to wait.

Doctors from Walter Reed this week set up vaccine stations inside the Indian Treaty Room in the Eisenhower Executive Office Building. There, they began vaccinating staff considered critical to the functioning of government: That included Secret Service members, some medical staff and some other support staff who work near Mr. Trump.

But Mr. Trump made it clear he does not like the optics of West Wing aides receiving the vaccine, and the White House declined to detail who exactly was receiving it. The number of doses they had received, an official said, was classified.

“His priority is frontline workers, those in long-term care facilities, and he wants to make sure that the vulnerable get access first,” Ms. McEnany said this week. When it came to staff working in the West Wing, she added, “it will be a very limited group of people who have access to it, initially.”

Mr. Pence declined to get the vaccine on the first day it was available to him, despite pressure from aides who wanted him to do so quickly, publicly — and before Mr. Biden held his own public event. Mr. Pence, people familiar with his thinking said, was concerned about the optics of jumping the line, when he wanted the administration to receive credit for the distribution of an effective vaccine to frontline medical workers without any distractions.

Instead, Mr. Pence chose to delay his own vaccination until Friday, when his office has asked all of the television networks to carry him live.

Lara Jakes and Nicholas Fandos contributed reporting.