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14th November 2022 |
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United States. Democrats retained control of the U.S. Senate on Saturday. The party's successful bid to prevent Republicans from retaking the chamber was secured after Sen. Catherine Cortez Masto was victorious in the race for Nevada's Senate seat. Keeping control of the Senate allows Democrats to reject legislation passed by the House and to continue managing committees responsible for overseeing and investigating the Biden administration.
Cryptocurrency. Changpeng Zhao, chief executive of dominant cryptocurrency exchange Binance, has called for new but stable and clear regulations for the industry in light of recent developments and participants “cutting corners”. “We’re in a new industry, we’ve seen in the past week, things go crazy in the industry,” Zhao told a gathering of G20 leaders at the summit in Bali. “We do need some regulations, we do need to do this properly, we do need to do this in a stable way.”
Afghanistan. The Taliban has banned Afghan women from amusement parks, continuing its assault on women's rights. The Islamist group justified the ban on the grounds that Islamic laws were not being followed in the parks. Until recently, gender segregation rules allowed women to visit parks on Sundays, Mondays, and Tuesdays, while men could visit on other days. Under the Taliban, teenage girls have been banned from attending school across Afghanistan. Many Afghan women have not been allowed to return to the jobs they held before the Taliban takeover.
1914 Ottoman Empire declares a Holy War
In Constantinople, capital of the Ottoman Empire, the religious leader Sheikh-ul-Islam declares an Islamic holy war on behalf of the Ottoman government, urging his Muslim followers to take up arms against Britain, France, Russia, Serbia and Montenegro in World War I.
NIGERIA
ASUU vs FG: Another trouble brewing?
The Story
The last has not been seen of the rift between the federal government and the Academic Staff Union of Universities (ASUU).
What is it now?
The Federal Government has implemented a "no-work, no-pay" policy for lecturers in the country, and the union plans to hold a one-day nationwide protest rally in response. All lecturers who are members of the union will be required to abstain from lectures on that day as part of the protest, which will be coordinated at the branch levels of the union on public university campuses around the country.
What's the protest meant to achieve?
The union's latest move is in response to the recent payment of the October salaries of universities's academic staff, which was not a full month payment. The protest's objective is to register ASUU's refusal to be treated like "casual workers", the union said. "We are protesting. Branches will choose their own dates, the government needs to understand that we are not casual workers", a member of ASUU's National Executive Council said, according to the Punch.
A letter from the chair of the University of Lagos (UNILAG) branch of ASUU, Dr. Dele Ashir, confirming the planned protest, stated that the branch would demonstrate on Tuesday, November 15, 2022. Addressed to “all stakeholders", the letter noted that the special protest rally against the casualization of intellectualism in Nigeria will hold at the Julius Berger auditorium in the school. SOURCE
ASIA
Away From Here
The Story
Thousands of Sudanese islamist demonstrators are protesting against the UN.
What's the protest about?
The protesters expressed opposition to efforts by the UN to mediate between the country's military junta and civilian leaders who have been at loggerheads since last year's coup that was led by general Abdel Fattah al-Burhan. The second time in two weeks, thousands of Sudanese Islamists on Saturday marched on the capital, Khartoum, against what they tagged as "interference" in the country’s affairs. "Any compromise will bring this country into a real crisis and we, the youth of Sudan, do not want these parties and their agreements", one of the demonstrators said.
What do they want?
A democratically elected government. "If a government is supposed to emerge, it should be the result of elections", the demonstrators said. Expressing anger over a proposal by the Sudanese Bar Association for a transitional constitution, which would ban activities by the National Congress Party, the protesters vowed to remain on the streets to protect their country. "We will take to the streets, to the squares, every day, in every city, in every corner to protect this country, to preserve its unity and its security. No to (foreign) agents!", one of them said.
Meanwhile, both the military and civilian leaders have accused each other of being behind the protests. "The army does not belong to any party", the army chief said last week while warning the islamists against daring the military. Before that, the civilian leaders had accused the military of collusion with the islamists. SOURCE
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FINANCE
FTX Not Gonna Make It
The Story
Building wealth may be an extremely difficult endeavor, but losing it can happen almost effortlessly. Sam Bankman-Fried, previously celebrated CEO of crypto exchange FTX and crypto trading firm Alameda Research, is a prime example of how wealth can easily be gone with the wind.
What's his story?
Once described as the “next Warren Buffett,” and touted as crypto’s savior, there is, perhaps, no better confirmation of the risky volatility of crypto, than Bankman-Fried, who lost everything - his $16b fortune and his crypto companies - in the space of just a week. It all happened quickly: On November 2, Coindesk stated that FTX and Alameda Research were intertwined and exceedingly risky. Online rumors that FTX was bankrupt grew, and a wave of withdrawals followed. In response, Bankman-Fried tweeted that everything was great and that a rival was just spreading false information. A few days later, Bankman-Fried declared that rival cryptocurrency exchange Binance will buy FTX. But the deal quickly collapsed, in part due to impending federal probes into FTX.
Was a crime committed?
Confirming the suspicion of trouble, Bankman-Fried told investors on Wednesday night that FTX would fail if it does not access more capital. The following day, he declared Alameda Research would cease trading in order to raise funds for FTX. The same day, the Wall Street Journal revealed the origin of FTX's troubles - FTX was using customer funds to place its own risky wagers. Even for an industry known for its volatility and immense risk, Bankman-Fried's story, and that of FTX, are a shock even unto shock itself. Sadly, when disasters such as this happen, the casualties are usually far-flung.
Far-reaching impact
The industry's reaction was instant. The price of Bitcoin has reached a two-year low. The native token for FTX (FTT) has declined by more than 97% from its peak. Beyond the crypto burst, Bankman-Fried's misfortune will be felt elsewhere. To justify its $32b valuation of the exchange, venture capital firm Sequoia Capital claimed that FTX might have surpassed banking behemoths like Wells Fargo or Bank of America. But when it all came crashing, even the investor was not spared. Counting its loss, Sequoia has writen its $214m investment in FTX down to zero. Admitting grave error, Bankman-Fried tweeted, “I f***ed up, and should have done better”. SOURCE
LIFE EXPERIENCES
Your Best Negotiating Trick?
Quora Question: What is your best negotiating trick?
Asim Qureshi
My best negotiation trick, which I’ve frequently used, is called anchoring.
It’s best highlighted by an example…
Ok, I want to buy something, and a fair price is $2,000, the offer price is $2,400. I’ll go in and make a semi-joke that I want to buy it for $300 (not a typo), and mention that figure repeatedly, with a big smile to keep it friendly. Suddenly even $1,600 suddenly seems reasonable because it’s being compared to with the joke $300. And I’ll offer $1,400, and at least go for $1,600.
Had I not done this $2,400 would be in everyone’s mind, and even $2,000 would have seemed like a low offer.
One more example - if you’re on $5k per month, tell your boss, as a joke, that you should be on $20k for all the work you do - mention it a few times, with a smile every time. Now, ask for a $1k pay rise - sounds like peanuts.
Sometimes the joke may not be appropriate, in which case you still need to make sure whatever figures are mentioned suit your goal. So if you want to haggle for that $40,000 car, at least have the courage to start with $32,000 with a serious face. It just makes the seller struggle to get anywhere near $40,000. If you start with $38,000 you’ve already lost half the battle.
$200,000 bribe: Policeman promoted, gets N1m
Forfeited funds: Apologise and withdraw from presidential race, PDP tells Tinubu
Buga crooner Kizz Daniel will perform at Qatar 2022 World Cup
‘Man United betrayed me’ — Ronaldo slams Ten Hag in explosive interview
Nigerian pastor attends Trump daughter’s wedding, blesses couple
‘Black Panther: Wakanda Forever’ notches record opening for November
Zelenskyy accuses Russia of war crimes in Ukraine’s Kherson
Explosion in the heart of Turkey’s Istanbul kills six, injures 81
Yellen announces new US sanctions on Russian military networks
Biden and Xi to hold first in-person meeting amid strained ties
LEARNING OPPORTUNITY
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Most ridiculous wildlife photos of the year. The Guardian
Mapping the world's real estate bubbles. VC
Explainer: What happens to your airtime when you call. Freshly Pressed
Every African nation's greatest World Cup star. Goal
BIOGRAPHY
Dante Alighieri
Dante Alighieri often referred to simply as Dante (c. 1265 – 14 September 1321), was an Italian poet, writer and philosopher. His Divine Comedy, originally called Comedìa (modern Italian: Commedia) and later christened Divina by Giovanni Boccaccio, is widely considered one of the most important poems of the Middle Ages and the greatest literary work in the Italian language.
Dante is known for establishing the use of the vernacular in literature at a time when most poetry was written in Latin, which was accessible only to the most educated readers. His De vulgari eloquentia (On Eloquence in the Vernacular) was one of the first scholarly defenses of the vernacular. His use of the Florentine dialect for works such as The New Life (1295) and Divine Comedy helped establish the modern-day standardized Italian language. His work set a precedent that important Italian writers such as Petrarch and Boccaccio would later follow.
Dante was instrumental in establishing the literature of Italy. His depictions of Hell, Purgatory and Heaven provided inspiration for the larger body of Western art and literature. He is cited as an influence on such English writers as Geoffrey Chaucer, John Milton and Alfred Tennyson, among many others.
In addition, the first use of the interlocking three-line rhyme scheme, or the terza rima, is attributed to him. He is described as the "father" of the Italian language, and in Italy he is often referred to as il Sommo Poeta ("the Supreme Poet"). Dante, Petrarch, and Boccaccio are also called the tre corone ("three crowns") of Italian literature.
FEATURE
Time Out With Yohanna
Yohanna, an ardent reader of Freshly Pressed jumped on this random question-and-answer session with us. A young entrepreneur from Fadan Kamantan in Southern Kaduna. You can catch him on Facebook talking about his quirks and creativity
What's the best advice you've ever received? And from whom? “If you'll be a sweeper, sweep so well that when you leave everyone will know there was once a sweeper here cause everything worth doing is worth doing well.” It came from a father figure.
What do you think is the silliest song but you like singing it anyway? “Face Me, I Face You" by Sunny Nneji
TRIVIA
Correct These English Grammar Errors
These are basic grammar mistakes that almost everyone misses. Let's see how well you do.
- Which word means: unaware or ignorant? Oblivious or Obvious
- What is the past tense of the word “lie” as in “lie down”? Lay, Lied, or laid.
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