The recently proposed BRICS investment platform utilizing digital assets is poised to significantly alter the global financial landscape as it has the potential to challenge the dominance of Western financial systems, according to Professor Victoria Panova, an international relations expert at HSE University in Russia. The professor stressed the platform’s goal of empowering nations to make sovereign decisions regarding investment, leveraging new technologies to direct resources where they're most needed. She cited the substantial growth in intra-BRICS foreign direct investment (FDI), increasing from $1.1 trillion in 2011 to $3.7 trillion in 2021, as evidence of this potential. Panova also highlighted the difficulties faced by countries like Egypt and Ethiopia due to restrictive conditions imposed by the IMF, arguing that the BRICS investment platform, with its access to potentially $100 billion, can offer alternative financing free from political interference and better tailored to the needs of recipient nations. Prof. Panova emphasized that the BRICS investment platform serves as a crucial safeguard against the "restrictive, punitive, unilateral, and illegal," financial measures employed by Western nations. She proposed several avenues for African nations to cooperate with BRICS to further reduce their dependence on Western financial systems. This includes collaborative development of cross-border payment systems, the establishment of networks of corresponding banks and exchanges utilizing national currencies, and the exploration of a joint BRICS-Africa clearing and settlement system .
Nebraska will be trying to preserve its perfect in-state record when it hosts South Dakota on Wednesday night in a nonconference game in Lincoln, Neb. The Cornhuskers (4-1) are 3-0 at home and also won Friday at then-No. 14 Creighton, beating their in-state rivals on the road for the second straight time. But the last time they did that, in 2022, they followed that win with a 16-point loss at Indiana to open Big Ten Conference play. "Believe me, we've addressed a lot of things," Nebraska coach Fred Hoiberg said. "A lot of people are saying some really positive things. You've got to find a way to put that behind you. I've liked how our team has responded and come back to work after that great win at Creighton." Brice Williams leads the Cornhuskers with 18.2 points per game and was one of five players in double figures against Creighton. Juwan Gary topped the list with 16. South Dakota (6-2) comes to town off a 112-50 home win Monday night over Randall, the third non-Division I school it has beat. The Coyotes' last game against a D1 opponent was Friday at Southern Indiana, resulting in a 92-83 loss. This will be South Dakota's second nonconference game against a Big Ten opponent, after a 96-77 loss at Iowa on Nov. 12. In December, the Coyotes also visit Santa Clara, hovering near the top 100 in KenPom adjusted efficiency, before jumping into Big Sky play. "The schedule is very good and that should help us," third-year South Dakota coach Eric Peterson said before the season. "We have some good nonconference games that should help prepare us for the end of the season." Nebraska has held four of its opponents to 67 or fewer points, with Saint Mary's the only one to top that number in the Cornhuskers' lone loss. Opponents are shooting 38.1 percent this season. South Dakota shot below 40 percent in its two previous games before shooting 62 percent against Randall. Isaac Bruns, who scored 20 to lead South Dakota in the Randall game, paces the Coyotes with 12.9 points per game. --Field Level MediaNebraska will be trying to preserve its perfect in-state record when it hosts South Dakota on Wednesday night in a nonconference game in Lincoln, Neb. The Cornhuskers (4-1) are 3-0 at home and also won Friday at then-No. 14 Creighton, beating their in-state rivals on the road for the second straight time. But the last time they did that, in 2022, they followed that win with a 16-point loss at Indiana to open Big Ten Conference play. "Believe me, we've addressed a lot of things," Nebraska coach Fred Hoiberg said. "A lot of people are saying some really positive things. You've got to find a way to put that behind you. I've liked how our team has responded and come back to work after that great win at Creighton." Brice Williams leads the Cornhuskers with 18.2 points per game and was one of five players in double figures against Creighton. Juwan Gary topped the list with 16. South Dakota (6-2) comes to town off a 112-50 home win Monday night over Randall, the third non-Division I school it has beat. The Coyotes' last game against a D1 opponent was Friday at Southern Indiana, resulting in a 92-83 loss. This will be South Dakota's second nonconference game against a Big Ten opponent, after a 96-77 loss at Iowa on Nov. 12. In December, the Coyotes also visit Santa Clara, hovering near the top 100 in KenPom adjusted efficiency, before jumping into Big Sky play. "The schedule is very good and that should help us," third-year South Dakota coach Eric Peterson said before the season. "We have some good nonconference games that should help prepare us for the end of the season." Nebraska has held four of its opponents to 67 or fewer points, with Saint Mary's the only one to top that number in the Cornhuskers' lone loss. Opponents are shooting 38.1 percent this season. South Dakota shot below 40 percent in its two previous games before shooting 62 percent against Randall. Isaac Bruns, who scored 20 to lead South Dakota in the Randall game, paces the Coyotes with 12.9 points per game. --Field Level Media
A months-long fight against a proposed plastics recycling facility on the W.R. Grace and Co. Columbia campus continues as residents gathered Tuesday to share information and tips for the next steps in advocacy.
Hugh Grant Has Always Played the VillainKIB awarded “Excellence in FinTech Innovation & Digital Leadership in Kuwait for 2024” by the World Union of Arab Bankers
Raiders coach Antonio Pierce doesn’t care about draft position amid struggles: ‘None of that s**t matters’A former employee has accused Lurie Children’s Hospital of firing her because she reported alleged problems in its pharmacy to state regulators. Christina Christner, who worked as a pharmacy technician at the hospital from August 2023 until April 2024, filed complaints with management and regulators alleging unsanitary practices with medication, according to her lawsuit. She was fired a week after state investigators visited the hospital, the lawsuit states. “It was horrible; it was terrible,” Christner said Tuesday about her time working at Lurie. “Their concern was not about the patients. Their concern was saving money and doing what they’ve always done, and not being current with new regulations, technology.” In the suit, Christner accused the hospital of reusing single-use vials of medications up to four days after they were first used — past their 12-hour expiration. She also alleged pharmacy technicians reused gloves while compounding medication for patients, reused single-use fluid bags and used rubbing alcohol to clean surfaces instead of sterile alcohol, according to court documents. Lurie Children’s Hospital, in a statement to the Sun-Times on Tuesday, denied the allegations. “Lurie Children’s consistently prioritizes safe, high-quality care to the patients and communities we serve and fosters an ethical workplace for our employees,” a spokesperson said. The lawsuit, filed in Cook County Circuit Court, seeks backpay with interest, future lost earnings and unspecified damages. Christner said she started voicing concerns as soon as she arrived at Lurie. She made a series of formal complaints in late November and early December 2023. The suit states she met with managers twice, where Christner said they turned the focus to her behavior and claimed she was targeting certain employees by filing the complaints. In February, inspectors from The Joint Commission — which accredits health care organizations — made a surprise visit to Lurie where they gave management a list of issues to fix. Christner alleges management claimed they were going to fight the conclusions. “And it was at that point, I thought, ‘I’m just going to go ahead and report them,’ because that is not the attitude you should have,” Christner said. She reported the hospital to the Illinois Department of Financial and Professional Regulation. David Fish, a lawyer representing Christner, said they hope to get justice for Christner and improve conditions at Lurie. “Employees who work at hospitals, particularly hospitals that deal with babies, should not be put in a position where they have to make a decision about whether to speak up about something they think is unsafe or risk losing their jobs,” Fish said.South Korean President Yoon Suk Yeol is facing impeachment by parliament after a series of shocking moves that saw him briefly declare martial law in the country for the first time in nearly 50 years. Philadelphia news 24/7: Watch NBC10 free wherever you are South Korea's main opposition party, the Democratic Party, along with others, submitted the articles of impeachment on Wednesday, responding to what the DPK leader called an "unconstitutional and illegal declaration of martial law." A motion for impeachment was reported to the National Assembly's plenary session Thursday in a parliamentary procedure that sets the stage for a full-house vote this week, according to local news . The DPK has a majority of control of the parliament, and along with members of other smaller opposition parties, it makes up 192 out of 300 seats . Thus, the coalition may only need eight outside votes to reach the two-thirds majority it would need to impeach the controversial leader. If Yoon's impeachment is passed by parliament it moves to South Korea's Constitutional Court, which must then rule on whether to confirm or reject the impeachment. The leader of Yoon's ruling People Power Party said Thursday that he plans to unite his party to block the motion to impeach. In emails sent to NBC News, Yoon's office has maintained that his call for martial law was constitutional. However, the office confirmed that his chief of staff and all senior presidential secretaries had already tendered their resignation. Defense Minister Kim Yong-hyun also reportedly stepped down Thursday. Yoon plunged South Korea into six hours of turmoil from Tuesday night when he made a surprise declaration of martial law through a late-night TV address, mobilizing the country's military forces. In an address on the country's YTN news channel, he said he was making the move "to protect the constitutional order," accusing opposition parties of sympathizing with North Korea and controlling parliament. Following Yoon's announcement, a martial law proclamation stated that all political activities, including protests, strikes and the operations of the National Assembly, were prohibited. All media was also declared under Martial Law Command, with the country's striking doctors ordered to return to work within 48 hours. Yoon's address was met with immediate nationwide backlash from lawmakers, citizens and unions. Meanwhile, defiant members of parliament raced to the National Assembly building for delegation. With 190 of its 300 members present, Parliament quickly passed a resolution demanding that Yoon lift the martial law as protests erupted outside the building. Amid the mounting pressure, early on Wednesday, Yoon made yet another national television appearance where he walked back the martial law declaration. "I have accepted the decision made by the National Assembly to dissolve and lift the martial law," he said, though he urged the National Assembly to cease "repeated acts of impeachment, legislative manipulation and budgetary sabotage that paralyze the nation's functions." — NBC's Stella Kim and Jennifer Jett contributed to this report
If U.S. president-elect lives up to his word and imposes a 25 per cent tariff on all imports from Canada, it would have a catastrophic impact on both sides of the border, throw an already-sputtering Canadian economy into a recession, and put the long-term future of the auto industry in this country into question, economists and trade experts say. The two countries’ economies are so intertwined — particularly in the manufacturing and energy sectors — that hitting Canada would also have a heavy impact on the U.S., argued Pedro Antunes, chief economist at the Conference Board of Canada. “This will be devastating for the Canadian economy, and devastating for the U.S. economy as well,” said Antunes. While manufacturers aren’t likely to shut down Canadian production or shift plants to the U.S. immediately, in the longer-term, they’ll likely be taking a hard look at whether they want to risk access to American consumers. “We’re going to see a deterioration of our attractiveness as an investment destination, because a lot of it is based on our access to the American economy,” said Antunes. “I think this could shut down the automotive industry in Canada.” The first impact American consumers would be likely to face is increased prices at the gas pump — particularly in the Midwest, where Canadian crude oil keeps refineries going at full-tilt, said Antunes. “There’d be an almost immediate impact on gasoline prices in the U.S., because they import a lot of Canadian crude. And we know how sensitive consumers in Canada and U.S. are to gasoline prices,” said Antunes. If the tariffs are 25 per cent across the board on all Canadian imports, the Canadian economy would shrink by 2.6 per cent, University of Calgary economist Trevor Tombe estimated. “And that’s just the straight impact of the tariffs, without any of the knock-on effects, or uncertainty, so it’s almost surely an underestimate,” said Tombe. “That’s basically a recession. The typical retraction is about three per cent in a recession.” Earlier this year, Tombe had prepared a tariff impact paper for the Canadian Chamber of Commerce, based on 10 per cent tariffs. After updating the numbers hastily following Trump’s Monday evening announcement on his Truth Social site, he found the potential impact to be even more grim. That 2.6 per cent drop in economic output translates into an annual loss of $78 billion for the Canadian economy, Tombe estimated. Tombe added that the tariffs would cause significant job losses, particularly in the hardest-hit sectors. “No question, there will be job losses. The tariff will result in reduced output in these heavily affected sectors, and with less production, they’re naturally going to lay off workers,” said Tombe. The U.S. market accounted for roughly 75 per cent of Canadian exports, a BMO report from economist Robert Kavcic found, making up about a quarter of Canada’s GDP. Canada sent $173 billion to the U.S. in energy exports alone last year, Kavcic’s report found, and tariffs would mean an immediate impact of higher oil and consumer gas prices in the U.S. The higher prices on goods from Canada flowing into the U.S. could depress demand for them, which could drag down an already shaky Canadian economy, Kavcic added. For the manufacturing sector, the impact of a full 25 per cent tariff would be devastating, warned Dennis Darby, CEO of Canadian Manufacturers and Exporters. While it might not happen in exactly the form Trump has threatened, Darby said Canada can’t afford to take the sabre-rattling lightly. “When the incoming president says he’s going to do that on Day 1, you have to take that as credible,” said Darby. In the auto sector, supply chains are so intertwined across the border that it’s hard to believe Trump would implement tariffs across the board, argued Flavio Volpe, CEO of the Automotive Parts Manufacturers’ Association. “It would be like taking a sledgehammer to his own foot,” said Volpe, who estimated that roughly half of the parts going into Canadian-made cars are sourced from U.S. producers. “We’re so integrated in the automotive industry. So there’s no way to separate the American interests from the Canadian interests here,” said Volpe. While acknowledging that Trump isn’t immune from cutting off his nose to spite his face, his first term in office shows at least some glimmer of hope for rational economic action — at least eventually, Volpe added. “He did put a national security tariff on aluminum from Quebec that U.S. defence interests need. So for a while, he taxed his own military to make a point. But I’ll remind everybody that that was also a short-term point. And that we have leverage,” said Volpe. That leverage, says Volpe, comes from desperately needed Canadian critical minerals and energy resources such as oil and gas. Both of those, said Volpe, would help the U.S. loosen its trade ties with China. “You need independence from the Chinese sphere. And that comes from the resources we have in this country,” said Volpe. “We’ll be inside the tent by the time it’s all said and done, if we put in our best efforts to demonstrate that their best interests extend to this side of the border.” Laura Dawson, executive director of the Future Borders Coalition, doesn’t expect the tariffs to hit across the board. “I feel pretty confident that Canada can negotiate its way out of many of these tariffs because, for example, the U.S. imposing a tariff on Canadian oil and gas will have an immediate effect on U.S. consumers,” Dawson said. “What we know from Trump 1.0 is he does what he says. If he has a plan, he usually acts on it, but he doesn’t act on it with the magnitude that he could.” The worst case could see tit-for-tat retaliatory tariffs, a stalemate and the same politics that led to the Great Depression, Dawson warned.Heritage Distilling Co. Announces Closing of its Initial Public Offering
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