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The first time Brazilian biologist Fernanda Abra saw a Groves’ titi monkey, one of the most 25 endangered primates in the world, it was positioned right next to a road.

“It was totally exposed to road mortality,” recalls Abra.

Although figures vary wildly, by some estimates, 475 million vertebrate animals are killed by vehicles every year in the South American country, which is home to the world’s fourth biggest road network, and the Amazon rainforest.

It’s a problem that Abra, who is a postdoctoral fellow at the Smithsonian’s Center for Conservation and Sustainability, Conservation Biology Institute, has been trying to solve by building bridges at the canopy level, so tree-dwelling species can safely traverse roadways.

Working with local partners including the indigenous Waimiri-Atroari people, who hold important knowledge about the wildlife in their territory in the Brazilian states of Amazonas and Roraima, Abra’s Reconecta Project has built more than 30 canopy crossings on the BR-174, a 3,300-kilometer (2,000-mile) highway slicing through the Amazon. In 2024, she was among the winners of the Whitley Fund for Nature Award, which celebrates grassroots conservationists, for her efforts.

Abra hopes the structures can help turn things around for some of Brazil’s vulnerable and endangered species, like the Groves’ titi, the Schneider’s marmoset, and the Guiana Spider Monkey.

Each bridge is fitted with cameras to monitor the animals using it, and those that approach it but turn away, so the structure can be redesigned to convince critters to cross.

“Every time I see the video of the monkey using my canopy bridge, it’s wonderful because we are avoiding the situation of road mortality,” says Abra.

Reconnecting fragments of forest that have been cut apart by human-built infrastructure can have other benefits, like giving animals access to more food resources and potential mates.

“Connecting the population, we can make it stronger and allow it to grow,” says Abra.

That could be crucial as Brazil builds more roads. In 2023, Brazil’s president Luiz Inácio Lula da Silva announced plans to spend almost $200 billion on infrastructure, including new highways.

Similar approaches are being put into use across the world. In California, an overpass is under construction above the 10-lane 101 Freeway, that will provide safe passage for animals like mountain lions, coyotes and bobcats.

Abra also has plans for growth. The Reconecta Project is now expanding in Alta Floresta, a city in the west-central state of Mato Grosso, where she’s engaging officials from various government departments and representatives from non-profits and universities, she says. The canopy bridges will be supplemented with measures like speed bumps to slow down traffic and wildlife crossing signs to alert motorists.

She hopes to eventually expand to other areas in Brazil. “What amazes me about Brazil is the richness that we have, the wonderful biodiversity we have here,” says Abra, “and I will do everything that I can as a person, as a professional, as a conservationist and researcher to protect this rich biodiversity.”

This post appeared first on cnn.com

Israel’s Hostages and Missing Families Forum said Wednesday that it had received the “heart-shattering news” that Shiri Bibas and her two young children, Ariel and Kfir, are among the four dead hostages expected to be released from Gaza on Thursday.

The body of Oded Lifshitz is also expected to be released on the same day, in what will be the first handover of dead hostages since the ceasefire deal with Hamas went into effect in January.

“This news cuts like a knife through our hearts, the families’ hearts and the hearts of people all over the world,” the forum said in a statement. “It is with great sadness that we received the news of the return of Shiri, Kfir and Ariel Bibas, along with Oded Lifshitz, who were kidnapped alive and will return deceased for eternal rest in Israel.”

But the announcement of the names was overshadowed by the Bibas family’s anger at the Israeli Prime Minister’s Office, which they said had released the names without their approval.

The forum later released a statement at the request of the Bibas family asking the public not to “eulogize our loved ones until there is a confirmation after final identification.”

“This is a serious mistake in the conduct of the IDF liaison officers towards the Bibas family, which resulted from an unfortunate human error,” the source said.

Ahead of tomorrow’s releases, Israel’s Prime Minister Benjamin Netanyahu said that “my own heart is torn,” in a video address posted online Wednesday evening.

“Tomorrow will be a very difficult day for the state of Israel. A wrenching day, a day of grief. We are bringing home four of our beloved hostages, deceased,” he said.

Netanyahu added: “We are grieving, we are in pain, but we are also determined to ensure that such a thing never happens again.”

The Bibas children, Kfir and Ariel, were just nine months and four years old, respectively, when they were kidnapped in October 2023. Their family has become one of the most recognizable victims of the October 7 terror attacks.

Lifshitz was 83 years old when he and his wife Yocheved were kidnapped from their home in kibbutz Nir Oz on October 7, 2023. Yocheved was one of two hostages released by Hamas later that month, while Oded remained in captivity.

The forum said in a statement Wednesday that “along with the heavy sorrow, their return for burial creates certainty for their loved ones and closes the agonizing circle of uncertainty that has lasted for 502 days.”

“There are another 69 abductees being held captive by Hamas, for whom there is still no release date,” the forum said, adding that decision-makers should “expedite” the negotiations.

Lifshitz’s family said in a statement that “these are not easy times for us, after we were informed that our beloved Oded is on the list of the hostages who will return to Israel tomorrow, after being kidnapped alive from his home in Kibbutz Nir Oz.”

“For 502 days we hoped and prayed for a different ending, but until we receive absolute certainty, our journey will not end, and even after that we will continue to fight until the last hostage is returned,” the statement added.

This post appeared first on cnn.com

US President Donald Trump’s push to end the war in Ukraine appears poised to hand key concessions to Russia, leaving Kyiv and its European supporters on the sidelines as they face the prospect of a peace deal made over their heads.

But they aren’t the only major players grappling with the fallout of Trump’s pivot to Russia that has upended years of US foreign policy in a burst of rapid-fire diplomacy.

In Beijing, too, the breakneck turn of events is seen to be raising questions about how the US peace drive will impact Chinese leader Xi Jinping’s carefully wrought partnership with Russian President Vladimir Putin – and China’s precarious relations with the Trump administration.

Just weeks ago, China appeared set for a key role in Trump’s Ukraine peace efforts. The US leader had repeatedly suggested he could work with Xi, using China’s economic sway over Russia to help end the conflict – important leverage for Beijing as it aims to avert a trade war with the world’s largest economy.

That would have aligned with Beijing’s longstanding efforts to present itself as a neutral party and voice of the Global South that is ready to broker peace in the grinding conflict – even as NATO accused it of supplying Moscow’s defense industry with dual-use goods. China defends its “normal trade.”

Now, Beijing finds itself neither involved in the negotiations as a Russian ally nor a voice of global gravitas – so far, at least, left on the outside of the swift developments that observers say have surprised Chinese officials – and sent them scrambling to find an upside.

A ‘reverse Nixon’?

The stakes are high for Xi, who for years has assiduously cultivated both a personal bond with his “old friend” Putin and his country’s relations with Russia – seeing his northern neighbor as a pivotal partner in a larger power struggle with the West.

The Chinese leader took a calculated risk as Russian tanks rolled over the Ukrainian border three years ago. His choice not to condemn that invasion and have his country serve as Putin’s lifeline – lapping up Russian oil and supplying Moscow with key goods – lost Beijing the trust of Europe and galvanized American allies in Asia to work more closely with NATO.

Chinese officials in recent days have voiced approval of the “agreement” between the US and Russia to start peace talks.

“China supports all efforts conducive to peace talks,” top diplomat Wang Yi said at a meeting of the United Nations Security Council Tuesday, the same day top Russian and US officials met in Saudi Arabia to lay the groundwork for negotiations on ending the fighting in Ukraine.

But comments from American officials in recent days are likely to have drawn attention from Beijing to potential underlying US objectives as it works with Russia.

Top US diplomat Marco Rubio named the possibility for future “geopolitical and economic cooperation” between Washington and Moscow as among four key points discussed in Riyadh.

Days earlier, the Trump administration’s Russia-Ukraine envoy Keith Kellogg told a panel discussion in Munich that the US hoped “to force” Putin into actions he was “uncomfortable with,” which could include disrupting Russia’s alliances with Iran, North Korea – and China.

Observers are skeptical that Washington could shatter the Russia-China relationship, given their deep alignment against the US-led order and Moscow’s entrenched economic dependence on Beijing.

But any worries that may be playing out in China about whether Trump – a leader who’s repeatedly professed his admiration for both Putin and Xi – could unwind their bond is likely underscored by the echoes of past mistrust between the neighbors.

Bitter territorial disputes along their lengthy shared border erupted in conflict between Soviet Russia and a young People’s Republic of China in 1969 and were only largely resolved in the 1990s.

Then there’s the diplomatic coup engineered by President Richard Nixon and his adviser Henry Kissinger, who exploited a split between the Communist-ruled neighbors to establish relations with Beijing and swing the Cold War balance of power in the US’ favor.

Though that history is unlikely to be repeated, observers say even a hint of a new shift in allegiances is a boon for Washington’s goals.

“Even if it’s just 30% of a ‘reverse Nixon’ … that’s going to sow the seeds of doubt,” said Yun Sun, director of the China Program at the Stimson Center think tank in Washington.

“That’s going to make Xi Jinping question the strategic alignment that (he spent) the past 12 years to build with Russia – ‘maybe it’s not that dependable, maybe it’s not so solid.’”

If a day comes that China decides to invade Taiwan then, “the Chinese will have to look at their back and wonder – what is Russia going to do?” she added, referring to the self-ruling democratic island Beijing claims. “And for the United States, that’s deterrence.”

A place at the table?

But others say Beijing may have greater confidence in its ties with Moscow.

“Chinese and Russian relations are in a league of their own, they have a strong basis and strong institutional connections in the past decades,” said Yu Bin, a senior fellow at the Russian Studies Center of the East China Normal University in Shanghai.

Yu pointed to the two countries’ efforts to push for multilateralism and build out their own international organizations like BRICS and the Shanghai Cooperation Organization, as well as the need to maintain their own border stability. “I don’t think either side would let that go because Trump is there for four years,” he said.

Instead, China is worried “that once Russia and the US patch up their differences and achieve some degree of peace in Ukraine, that would free the Trump administration to turn its focus to China,” Yu said.

US Secretary of Defense Pete Hegseth signaled as much last week, when he told European counterparts the US can’t focus primarily on security on their continent when it must prioritize “deterring war with China.”

Had Trump been unable to engage Putin directly, Beijing may have tried to ease some frictions with the US by working with Washington on bringing the Russian leader to the table – but now it’s unclear whether China will take any role in future Ukraine peace negotiations.

However, observers say that if an accord is reached, Beijing could send peacekeeping forces to Ukraine via the United Nations and would be keen to play a role in the country’s reconstruction.

For now, Chinese officials have used a flurry of diplomacy in recent days to try and win back love lost with Europe – calling in public statements for “all relevant parties and stakeholders involved in the Ukraine crisis” to “engage in the peace talks process,” in a nod to Europe’s right to a seat at the table.

At the same time, they’ve also looked to play up their potential to take a role, while implying that Trump’s apparent turn to Putin proves Beijing’s stance was correct all along.

Meanwhile, Ukraine, has raised the prospect that it could try and recruit China as its own ally.

Ukrainian President Volodymyr Zelensky, who has received little attention from Beijing since the start of the war, suggested as much following a Saturday meeting between top Chinese diplomat Wang and Ukrainian officials in Germany.

“It is important for us to engage China to help put pressure on Putin to end the war. We are seeing, I think, for the first time, China’s interest,” Zelensky told a news conference Tuesday. “This is mostly due to the fact that all the processes are now accelerating.”

As to who should be at the negotiating table, the Ukrainian leader added it should be countries “ready to take responsibility for guaranteeing security, providing assistance, stopping Putin, and investing in Ukraine’s recovery.”

This post appeared first on cnn.com

Hamas on Thursday handed over the bodies of four Israeli hostages held in Gaza — the first time the group has released deceased captives since October 7, 2023.

They include the bodies of Shiri Bibas, who was aged 32 when she and her sons Ariel, 4, and Kfir, 9 months, were abducted from their home in Kibbutz Nir Oz, southern Israel by Hamas-led militants more than 16 months ago.

The two boys have become the most recognizable victims of the October 7 terror attacks, and the first return of hostage bodies marks a hugely emotional and somber moment for Israel.

The fourth body is that of Oded Lifshitz, who was 83 years old when he and his wife, Yocheved Lifshitz, were kidnapped from Kibbutz Nir Oz. Yocheved was released by Hamas on October 24, 2023.

Ahead of the handover, Hamas militants placed four black caskets on a stage in Khan Younis, behind which was a propaganda backdrop with slogans in Arabic, Hebrew and English.

A representative of the Red Cross was seen signing documents on the stage, before the caskets were carried into waiting Red Cross vehicles. White screens were set up to block the caskets from view as they were placed in the vehicles, with hundreds of militants and bystanders gathered at the site.

Hamas claimed in November 2023 that the Bibas children and their mother were killed in an Israeli airstrike, but did not produce any evidence. Israel has never confirmed their deaths.

The children’s father, Yarden Bibas, was released by Hamas earlier this month after 484 days of captivity. He was one of the 19 Israeli hostages freed alive under the January 2025 ceasefire deal.

The bodies will be taken to the Abu Kabir Institute of Forensic Medicine in Tel Aviv for forensic examination.

The Israeli military had previously retrieved the bodies of multiple hostages in Gaza.

This is a developing story. More to come …

This post appeared first on cnn.com

Super Micro Computer, Inc. (SMCI) stock surged over 50% after reporting earnings last week. The top and bottom line results weren’t stellar. The guidance, however, was enough to fuel a buying frenzy, driving the stock’s rally to a 110% gain this month. But is it sustainable?  Once SMCI pulls back, does it have the technical strength and fundamental conditions to make it a favorable trade?

SMCI set its revenue guidance to $40 billion by 2026, an ambitious target. Many analysts are skeptical, with several maintaining their “underweight” rating. Investors, on the other hand, are jumping in regardless, betting on increased AI infrastructure spending, particularly among giants like Meta (META), Amazon (AMZN), Alphabet (GOOGL), and Microsoft (MSFT).

With bulls and bears divided, what do the technicals say? What entry points and targets might the price action give us, if any? 

Let’s get started. Below is a weekly chart detailing SMCI’s two-year price action.

FIGURE 1. WEEKLY CHART OF SMCI STOCK.  The stock saw an impressive rise followed by an equally strong fall. Can it sustain its recovery? Chart source: StockCharts.com. For educational purposes.

From May 2023 to March 2024, SMCI saw a jaw-dropping rally of 1,167% from around $10 a share to $120. But then, it all came to a screeching halt as financial and regulatory concerns — specifically allegations of accounting and transaction irregularities — sent the stock into a prolonged tailspin. Over nearly a year of selling pressure, SMCI plummeted, finally hitting rock bottom at $23 in November.

Since then, SMCI has been attempting to recover, twice testing and finally breaking above resistance at the $50 range (see the highlighted yellow range). Interestingly, despite its year-long plunge, it still outperformed its broader industry, represented by the Dow Jones US Computer Hardware Index ($DJUSCR), by $297%.

So, what does the situation look like up close, and might there be an entry point? Let’s now shift over to a daily chart.

FIGURE 2. DAILY CHART OF SMCI STOCK. The trend is shifting, so it’s important to watch the key levels and momentum shift via the full stochastic oscillator. Chart source: StockCharts.com. For educational purposes.

First, note how the StockCharts Technical Rank (SCTR) score jumped well above the bullish 70-line. The shift from extreme technical weakness to technical strength potentially foreshadows a bullish shift in the trend. But it depends on how price responds to a few key levels.

The price looks a bit overextended. While runaway gaps tend not to get filled immediately within a week after the move, there’s still the likelihood that a pullback may occur in the next few sessions. The Stochastic Oscillator is well above 80, signaling a potentially overbought condition, although both lines (%K and %D) have been known to occasionally hover in either extreme (above 80 and below 20) for a prolonged period. 

About the stochastic oscillator, note how it signaled the (overbought) limit of each major swing high during the downtrend. If SMCI’s trend shifts upward, you will use the oscillator to anticipate potential swing lows throughout the uptrend. 

Concerning the trend, look at the ZigZag line highlighting the stock’s major swing points. For the bullish reversal to evolve into a full-fledged uptrend, it should remain above the most recent swing low point (see blue dotted line) near $25.  Before that, however, SMCI may rebound at the recently breached resistance level (yellow line). If it drops below this level, the next potential support is around $37.50 (blue line), which has acted as both support and resistance from last September to this February.

At the Close

If you’re considering a position in SMCI, here are your next steps:

  1. Add SMCI to your ChartLists.
  2. Monitor price action if SMCI pulls back, paying close attention to how it reacts to the key levels mentioned above.

A bounce off support could indicate a favorable entry point. However, if the price falls below $25, the bullish outlook becomes uncertain. A drop below $17.50 would invalidate the bullish thesis entirely.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

South Korea’s impeached President Yoon Suk Yeol appeared in a Seoul court on Thursday for his first trial hearing on charges of insurrection in the country’s first criminal prosecution of an incumbent leader.

Last month prosecutors indicted Yoon after accusing him of leading an insurrection with his short-lived imposition of martial law on December 3.

A justice ministry motorcade took Yoon from the Seoul Detention Center, where he is being held, to the court, outside which were parked lines of police buses to ensure security.

Prosecutors called for swift proceedings considering the gravity of the case, but Yoon’s lawyers said they needed more time to review records.

Yoon had “no intention to paralyse the country,” one of his lawyers told the court, adding that his martial law declaration aimed to tell the public of the “legislative dictatorship of the huge opposition party.”

If convicted, Yoon could face years in prison for his martial law decree, which shocked the country and sought to ban political and parliamentary activity and control the media.

The move unleashed political upheaval in Asia’s fourth-largest economy and a top US ally, with the prime minister also impeached and suspended from power, while top military officials were indicted for their part in the matter.

The court also heard a bid by Yoon’s lawyers to cancel his detention, saying the matter had been investigated in an illegal manner, and that there was no risk of Yoon trying to destroy evidence.

It was unclear when the court would rule on the detention, but a judge set the next hearing of the criminal case for March 24.

After the criminal case, Yoon also attended on Thursday afternoon a parallel impeachment trial by the Constitutional Court that has entered its final phase.

Witnesses testifying to the court included Prime Minister Han Duck-soo, who has also been impeached and awaits the court’s decision on his fate.

“I am deeply burdened by the despair that each and every one of our people felt due to such extreme politics that took place before, during and after emergency martial law,” Han said.

“All procedures dealing with the emergency martial law must be carried out fairly and reasonably … so that there is no further spark of national division.”

The Constitutional Court is reviewing parliament’s impeachment of Yoon on December 14 and will decide whether to remove him from office permanently or reinstate him.

Yoon and his lawyers have argued that he never intended to fully impose martial law but had only meant the measures as a warning to break a political deadlock.

If Yoon is removed, a new presidential election must be held within 60 days.

This post appeared first on cnn.com

I was taught that the most bullish thing the market can do is go up. And while the major equity averages are yet again at or near all-time highs, there are three macro technical signals that I’ve found to be very common at major market tops.

And while the prevalence of these signals does not guarantee a top will occur in February 2025, it tells me that until these conditions change, further upside could be limited from here.


The Magnificent 7 have transformed into the Meager 7. So which sectors or stocks might take the lead in 2025? Join me in our upcoming FREE webcast on Wednesday 2/26 at 1:00pm ET as we explore sector rotation trends, analyze growth vs. value dynamics, and spotlight stocks gaining momentum in Q1. Can’t make it live? No worries! Just register and I’ll send you the replay as soon as it’s ready. Sign up for Finding Value: The Great Rotation of 2025 today!


Let’s go through these signs of the bear, review recent examples, and discuss what we would need to see to reconfirm a new bull phase for stocks.

Bearish Momentum Divergences Suggest Bull Exhaustion

Our first common feature of bull market tops is a surplus of bearish momentum divergences. When prices move higher on stronger momentum, the uptrend is in good shape. But when prices push higher on weaker momentum readings, that suggests a dangerous situation where selling pressure is not yet being reflected in stock prices.

While I could share my chart of the S&P 500, or perhaps Alphabet (GOOGL) which featured a bearish momentum divergence going into its recent high, I’ll go with the daily chart of Synchrony Financial (SYF). Here we can see a clear pattern of higher highs in price from November 2024 through February 2025. But note how the RSI is sloping lower during this period.

When previous leadership names start to flash a pattern of weaker momentum, that illustrates how distribution is occurring which pushes an indicator like RSI lower even though the prices remain in an uptrend. And while this does not necessarily mean a top is in place, it tells me that the current uptrend phase should be brought into question.

Breadth Indicators Have Not Confirmed Recent Highs

Healthy bull markets are marked by improvement in market breadth indicators, as more and more stocks participate in the upside. In recent months, to the contrary, we have seen breadth indicators trending downward while the major averages are making new all-time highs.

Out of the breadth indicators I track on my Market Misbehavior LIVE ChartList, one of my favorites is the simple advance-decline line. And whether we’re looking at the S&P 500 members, the entire New York Stock Exchange, or even mid-caps or small caps, all of these advance-decline lines have been sloping down since November.

To be clear, a breakout in these cumulative advance-decline lines would display a very different picture, representing a broad advance and stronger breadth conditions. But until and unless the A-D lines can propel above their Q4 2024 highs, this remains a market with meager breadth readings.

Dow Theory Non-Confirmation Suggests Limited Upside

Finally, we have an updated version of Charles Dow’s original work comparing different market indexes, a strategy now known as “Dow Theory”. While Dow used the Dow Industrials and Dow Railroads, and though we could use the Dow Industrials and Dow Transports, I prefer to use an equal-weighted S&P 500 versus the equal-weighted Nasdaq 100.

The idea is that if both indexes are making new highs, then the bull market is confirmed. If one is breaking out while the other is now, this represents a “bearish non-confirmation” and suggests limited upside unless that divergence is negated.

The equal-weighted Nasdaq 100 did make a new high in February, pushing above its early December peak. The equal-weighted S&P 500, however, is still well below its own top from late November. Similar to the advance-decline analysis above, if both ETFs finally confirm new highs, then that would suggest further upside for the major equity averages. But for now, this non-confirmation has me questioning the sustainability of the current uptrend phase.

To be clear, my Market Trend Model is still bullish on all time frames, confirming that the primary trend remains positive for the S&P 500. The only way to anticipate a potential top is to look for similar conditions experienced in previous major tops. Based on the charts shared today, we may be nearing the exhaustion point of the current bull market phase.

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Argentine President Javier Milei is facing withering criticism, including some calls for impeachment, after promoting a new cryptocurrency on his social media account.

In a since-deleted post from his personal account on X on Feb. 14, Milei shared a link to a site where users could purchase a cryptocurrency called $LIBRA, a coin attached to a new initiative called Project Libertad, whose website indicates funds from the coin launch were designed to support Argentine businesses. 

In his post, Milei indicated the coin and the project would help the country’s economy and small businesses. 

Soon after launching, the coin’s price rose from about $0.22 to more than $5. Yet within an hour of the launch, buyers began to notice sales from early purchasers, and the price tanked some 70%.  

According to crypto analytics firm LookOnChain, eight digital wallets linked to early trading of the coin cashed out a total of $107 million, while data reported by crypto news site ICOBench showed some 60 individual traders each lost more than $500,000, while 24 traders lost at least $1 million.     

Today, LIBRA coin is worth about $0.30 according to CoinMarketCap.com.

The timeline of events has led to accusations on social media that the coin’s developers, or those with early awareness of the project, executed a “rug pull” on later buyers, to whom they knew they could sell at a higher price. 

Representatives for the project did not respond to a request for comment.

The situation has drawn some parallels with President Donald Trump’s promotion of a cryptocurrency just prior to taking office; that coin, TRUMP, has fallen in value by some 80% to about $16 from its immediate post-launch high of nearly $78. 

However, while early backers of TRUMP coin also saw large windfalls, the project was more transparent about its ownership structure.   

In a post on X, Hayden Davis, an American, denied accusations of wrongdoing in launching LIBRA and accused Milei himself of reneging on the project. 

“It is crucial to recognize that memecoin investments are driven by trust and endorsement,” Davis wrote. “When Milei and his team deleted their posts, investors who had purchased the token based on their trust in his endorsement felt betrayed. This led to a wave of panic selling, further exacerbating the situation. The sudden loss of confidence had a catastrophic impact on the token’s market stability.”

Davis did not respond to a request for additional comment. 

On Saturday, Milei’s official account posted a lengthy description of what had occurred, stating that Milei himself has since invoked Argentina’s anti-corruption investigator to look into the matter, including the president’s own involvement.

In a television interview Monday, Milei admitted he had likely erred in promoting the coin.

“I’m a techno-optimist . . . and this was proposed to me as an instrument to help fund Argentine projects,” he said according to the Financial Times. “It’s true that in trying to help out those Argentines, I took a slap in the face.”  

His office said that while he had met twice with representatives of the project, he was never involved in its development.

“The most interesting lesson is that . . . I need to put up more filters, it can’t be so easy for people to reach me,” Milei said in the interview. 

While some analysts say getting enough votes to pass impeachment articles may be unlikely, Milei’s opposition is already pouncing on the incident, with one coalition calling it “a scandal without precedent” and another group for the creation of an independent commission, according to The New York Times.

Milei was the first foreign leader to meet Trump after the November election, and has developed what some have called a “bromance” with Elon Musk. Milei pioneered a new government agency, the Ministry of Deregulation and State Transformation, last year that has parallels with the Department of Government Efficiency Musk has spearheaded.   

Milei took office in December 2023 promising to tackle his country’s longtime inflation woes. Although some progress has been made, the country’s poverty rate has also increased.

This post appeared first on NBC NEWS

KFC is leaving Kentucky.

The fried chicken chain’s U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday.

About 100 KFC U.S. employees will be required to relocate over the next six months.

The relocation is part of Yum’s broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California. KFC and Pizza Hut’s global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill’s teams are located in Irvine.

Additionally, Yum’s U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based.

But Yum isn’t entirely abandoning Kentucky. The company and the KFC Foundation plan to maintain corporate offices in Louisville. Plus, KFC still plans to build a new flagship restaurant in its former hometown.

Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce. With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.

In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta. It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.

This post appeared first on NBC NEWS

Sentiment among the nation’s single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly.

The National Association of Home Builders’ Housing Market Index (HMI) dropped a sharp 5 points from January to a reading of 42. Anything below 50 is considered negative sentiment. Last February, the index stood at 48.

“While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,” said NAHB Chairman Carl Harris, a home builder from Wichita, Kansas.

Of the index’s three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46. That last component hit its lowest level since December 2023.

Builders are already facing elevated mortgage rates. The average rate on the 30-year fixed was over 7% for January and February after earlier being in the 6% range. Home prices are also higher than they were a year ago, weakening affordability further.

While President Donald Trump’s tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs.

“With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,” said NAHB chief economist Robert Dietz.

Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies. Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.

The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market. Several homebuilders have noted the pullback in buyer demand in recent earnings reports.

“Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,” said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.

The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024. Other sales incentives also fell.

This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.

When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking. Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.

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