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Scottie Scheffler has new putting grip and trails Cameron Young by 3 in BahamasBitcoin catapulted above $100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets. Once it broke $100,000 in Thursday's Asian morning, boosted by U.S. President-elect Trump's nomination of pro-crypto Paul Atkins to run the Securities and Exchange Commission, it was soon at an all-time high of $103,649. It last fetched $98,803, up 0.95% on the day BTC=. The total value of the cryptocurrency market has almost doubled over the year so far to hit a record over $3.8 trillion, according to data provider CoinGecko. By comparison, Apple alone is worth about $3.7 trillion. Bitcoin's march from the libertarian fringe to Wall Street has minted millionaires, a new asset class and popularised the concept of "decentralized finance" in a volatile and often controversial period since its creation 16 years ago. Bitcoin has more than doubled in value this year and is up more than 50% in the four weeks since Donald Trump's sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress. "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!" Trump said on Truth Social, his social media network, on Thursday. "We're witnessing a paradigm shift," said Mike Novogratz, founder and CEO of U.S. crypto firm Galaxy Digital. "Bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream - this momentum is fuelled by institutional adoption, advancements in tokenisation and payments, and a clearer regulatory path." Trump - who once labelled crypto a scam - embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin. "We were trading basically sideways for about seven months, then immediately after Nov. 5, U.S. investors resumed buying hand-over-fist," said Joe McCann, CEO and founder of Asymmetric, a Miami digital assets hedge fund. Bitcoin's proponents cheered Trump's nomination of Atkins to the SEC. A former SEC commissioner, Atkins has been involved in crypto policy as co-chair of the Token Alliance, which works to "develop best practices for digital asset issuances and trading platforms," and the Chamber of Digital Commerce. "Atkins will offer a new perspective, anchored by a deep understanding of the digital asset ecosystem," said Blockchain Association CEO Kristin Smith. "We look forward to working with him ... and ushering in – together – a new wave of American crypto innovation." A slew of crypto companies including Ripple, Kraken and Circle are also jostling for a seat on Trump's promised crypto advisory council. Part of the landscape Bitcoin has proven a survivor through precipitous downturns. Its move into six-figure territory is a remarkable comeback from a dip below $16,000 in 2022 when the industry was reeling from the collapse of the FTX exchange. Founder Sam Bankman-Fried was subsequently jailed. Analysts say the growing embrace of bitcoin by big investors this year has been a driving force behind the record-breaking rally. U.S.-listed bitcoin exchange-traded funds were approved in January and have been a conduit for large-scale buying, with more than $4 billion streaming into these funds since the election. "Roughly 3% of the total supply of bitcoins that will ever exist have been purchased in 2024 by institutional money," said Geoff Kendrick, global head of digital assets research at Standard Chartered. "Digital assets, as an asset class, is becoming normalised," he said. It is already becoming increasingly financialised, with the launch of bitcoin futures BTCc1 in 2017 and a strong debut for options on BlackRock's ETF IBIT.O in November. Crypto-related stocks have soared along with the bitcoin price, with shares in bitcoin miner MARA Holdings MARA.O and exchange operator Coinbase COIN.O each up around 65% in November. Software firm Microstrategy MSTO.O, which has repeatedly raised funds to buy bitcoin and held an aggregate of about 402,100 bitcoins as of Dec. 1, has gained around 540% this year. Trump himself unveiled a new crypto business, World Liberty Financial, in September, although details have been scarce and billionaire Elon Musk, a major Trump ally, is also a proponent of cryptocurrencies. Some say the asset remains a speculative or investment vehicle and not an instrument for payments. On Wednesday, Federal Reserve Chair Jerome Powell likened bitcoin to gold, “only it's virtual, it's digital." "People are not using it as a form of payment, or as a store of value. It's highly volatile, it’s not a competitor for the dollar." While earlier big bitcoin rallies have been followed by significant pullbacks, its wider adoption now may help tamp down volatility, analysts said. "That is not to say that there will not be 30-50% drawdowns over time, but my base case is that the nature of the drawdowns will be less severe than what we saw in the last bear market," Sean Farrell, head of digital asset strategy at Fundstrat Global Advisors, said. "Passive flows into ETFs, a liquid options market, corporate treasury adoption, and nation state adoption will likely play a large role in dampening volatility," Farrell said. 'Who can prohibit it' Cryptocurrencies have been criticised for their massive energy consumption and use in crime around the world, and the underlying technology is far from delivering a revolution in the way money moves around the globe. The U.S. and Britain announced on Wednesday they had disrupted what they described as a global money laundering ring which used cryptocurrency to help rich Russians to evade sanctions and launder cash for drug traffickers. Although calculations vary, the Cambridge University Centre for Alternative Finance estimates bitcoin uses around the same amount of electricity each year as Poland or South Africa. Still, as Russian President Vladimir Putin pointed out at an investment conference on Wednesday: "Who can prohibit it? No one." And its longevity is perhaps testament to a degree of resilience. "As time goes by it's proving itself as part of the financial landscape," said Shane Oliver, chief economist and head of investment strategy at AMP in Sydney. "I find it very hard to value it ... it's anyone's guess. But it does have a momentum aspect to it and at the moment the momentum is up." — Reuters
Opposition Leader Peter Dutton has defended his position on uniting the country under the one flag and gave a decisive answer to whether the Aboriginal flag should remain flying on top of the Sydney Harbour Bridge. Mr Dutton told Sky News Australia's Credlin on Monday night he would continue to deliver press conferences with just the Australian flag behind him if elected as the next prime minister in the upcoming federal election. The Opposition Leader doubled down on his pledge during an appearance on Sunrise on Thursday morning, with host Nat Barr pressing Mr Dutton as to whether he had plans to remove the Aboriginal flag from the iconic bridge. "You're facing criticism after revealing you will refuse to put the Indigenous flag behind you, like Anthony Albanese has. You're going to get rid of it on the Harbour Bridge too according to Jacinta Price," Barr said. Mr Dutton, echoing his previous remarks on the matter, questioned how a country could be united if people identified under three different flags. "No other western democracy does that," he said. "I believe very strongly we should have an enormous amount of respect for the Indigenous and Torres Strait Islander flags, but they are not our national flag. I want practical reconciliation. I want kids in Alice Springs to live in a safe environment." Barr then asked directly if the Aboriginal flag would remain on top of the Sydney Harbour Bridge after it was permanently affixed on July 10, 2022. Mr Dutton said if elected as prime minister, his administration would work with the NSW government. "Obviously the state government has made a decision to put the flag up there, but for us, at a federal level, I'm not going to pretend that our country can be united when we're asking people to identify in different ways," Mr Dutton said. "We have an incredible migrant story in this country. We should be talking more about it. Should be very proud of our Indigenous heritage. But I don't believe that serving under three flags can unite the country." The Opposition Leader then referenced the rampant antisemitism plaguing the country in recent weeks to discuss the "social disharmony" in Australia. Mr Dutton said there was more social tension today "than we have for decades", adding he wanted to "bring the country together" if elected. "We can do that if we unite under one flag," he said. Barr again pressed Mr Dutton on whether the Aboriginal flag would be removed from the bridge before concluding the interview. "I think it's an issue for the New South Wales government," the Opposition Leader said. "My preference would be that we just, frankly, accept we have one national flag and that's the priority, but ultimately it's a decision for the NSW government." In his interview with Sky News host Peta Credlin, Mr Dutton said he would not display the Aboriginal or Torres Strait Islander flags behind him in press conferences as they are not “our national flags”. Anthony Albanese, in his first press conference as Prime Minister, installed both flags next to the Australian one as the three “represent our entire nation”. Mr Albanese said his government “didn’t make a fuss” or “put out a media release” after quietly installing the two additional flags, however, Mr Dutton said he was of the belief Australia was a country “united under one flag”. “We're asking people to identify with different flags, no other country does that, and we are dividing our country unnecessarily,” Mr Dutton told Credlin. “We should have respect for the Indigenous flag and the Torres Strait Islander flag, but they are not our national flags. “I think the Prime Minister sends a very confusing message.”The United States on Saturday announced a new $988 million security assistance package for Ukraine as Washington races to provide aid to Kyiv before President-elect Donald Trump takes office. Trump's November election victory has cast doubt on the future of American aid for Ukraine, providing a limited window for billions of dollars in already authorized assistance to be disbursed before he is sworn in next month. The package features drones, ammunition for precision HIMARS rocket launchers, and equipment and spare parts for artillery systems, tanks and armored vehicles, the Pentagon said in a statement. Trump met in Paris earlier Saturday with Ukrainian President Volodymyr Zelensky, who said any resolution of the war with Russia should be a "just" settlement that includes "strong security guarantees for Ukraine." The meeting was of huge importance to Zelensky, given fears in Kyiv that Trump may urge Ukraine to make concessions to Moscow. The latest aid will be funded via the Ukraine Security Assistance Initiative, under which military equipment is procured from the defense industry or partners rather than drawn from American stocks, meaning it will not immediately arrive on the battlefield. It follows a $725 million package announced on Monday that included a second tranche of landmines as well as anti-air and anti-armor weapons. The outgoing administration of President Joe Biden is working to get as much aid as possible to Ukraine before Trump -- who has repeatedly criticized US assistance for Kyiv and claimed he could secure a ceasefire within hours -- takes over. Trump's comments have triggered fears in Kyiv and Europe about the future of US aid, and Ukraine's ability to withstand Russian attacks in the absence of further American support. "Our job has been to try and put Ukraine in the strongest possible position on the battlefield so that it is in the strongest possible position at the negotiating table," National Security Advisor Jake Sullivan said Saturday. In the closing weeks of Biden's term, the goal is "a massive surge of assistance and to up the economic pressure on Russia," he said. US Defense Secretary Lloyd Austin on Saturday warned that failure to continue opposing Russia's actions would have dire consequences. "We can continue to stand up to the Kremlin. Or we can let (Russian President Vladimir) Putin have his way -- and condemn our children and grandchildren to live in a world of chaos and conflict," said Austin, who like Sullivan was speaking at the Reagan National Defense Forum in California. "This administration has made its choice. And so has a bipartisan coalition in Congress. The next administration must make its own choice." The defense chief also emphasized the importance of US allies and partners in his remarks -- a contrast to Trump's go-it-alone "America first" world view. "Here is the stark military fact: our allies and partners are huge force multipliers," Austin said. "Ultimately, America is weaker when it stands alone. And America is smaller when it stands apart," he said. "There is no such thing as a safe retreat from today's interwoven world." The United States has spearheaded the push for international support for Ukraine, quickly forging a coalition to back Kyiv after Russia launched its full-scale invasion in 2022 and coordinating aid from dozens of countries. Ukraine's international supporters have since then provided tens of billions of dollars in weapons, ammunition, training and other security aid that has been key to helping Kyiv resist Russian forces. wd/mlm/acb
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LA Galaxy win record 6th MLS CupCARSON, Calif. — The LA Galaxy finished 26th in the 29-team Major League Soccer standings just one season ago, and their biggest supporters boycotted certain matches to protest a decade of poor performance. The most successful club in league history seemed light years away from its luminous prime. When the Galaxy raised the MLS Cup again Saturday amid confetti and fireworks, their spectacular transformation was complete. In only one year, a team that was profoundly lost had rediscovered its peerless championship pedigree. "We won this trophy, and it's finally back where it belongs," striker Dejan Joveljic said. Joseph Paintsil and Joveljic scored in the first half, and the Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls. After striking twice in the first 13 minutes of the final, the Galaxy nursed their lead through a scoreless second half to raise their league's biggest trophy for the first time since 2014. MLS' most successful franchise struggled through most of the ensuing years, but everything changed after LA spent smartly in the offseason to build a high-scoring new lineup topped by Paintsil, Joveljic and Gabriel Pec. The Galaxy finished second in the Western Conference and streaked through the postseason with an MLS playoff-record 18 goals in five games to win another crown. "I'm just so proud of this group after the challenges that we (had) and the way they bounced back and competed as a group," Galaxy coach Greg Vanney said. "We spent a lot of energy at the start, but I'm just so proud of these guys. They've cemented themselves as legends in this club." The Galaxy even won this title without perhaps their most important player. Riqui Puig, the playmaking midfielder from Barcelona who ran their offense impressively all season long, tore a ligament in his knee last week in the conference final. Puig watched this game in a suit, but the Catalan catalyst's teammates hadn't forgotten him: After his replacement, Gastón Brugman, set up LA's opening goal with a superb pass in the ninth minute, Paintsil held up Puig's jersey to their roaring fans during the celebration. "I was really waiting for this moment," said Paintsil, who scored his 14th goal of an impressive season. "I'm much more, 10 times faster than them, and Gaston saw the space. ... It was really a good thing. We did it for Riqui, and we did it for our family that came, and our supporters." Just four minutes later, Joveljic sprinted past four New York defenders and chipped home his 21st goal. Brugman was named the MLS Cup MVP after a commanding performance in midfield. The Uruguayan hadn't started a match for the Galaxy since Oct. 5 after an injury-slowed season, playing only as a postseason substitute before the final. "I dreamed of that yesterday, of something I could give to the team," Brugman said of his pass to Paintsil. "Today, it happened." Sean Nealis scored for the seventh-seeded Red Bulls, whose improbable postseason charge ended one win shy of their first Cup championship. With the league's youngest roster, New York fell just short of becoming the lowest-seeded team to win the tournament under first-year German coach Sandro Schwarz. "I love these guys," Schwarz said. "Some guys, they are crying. In the big picture, that's a start. Sometimes when you lose the final, it's tough, but you use this experience to create the next energy, the next intensity." Galaxy goalkeeper John McCarthy made four saves to win his second MLS title in three seasons, but Nealis beat the 2022 MLS Cup MVP in the 28th minute when he volleyed from the penalty area. The second half was lively: Red Bulls captain Emil Forsberg hit the outside of the post in the 72nd minute, while Pec and Galaxy substitute Marco Reus nearly converted chances a few moments later. The ball got loose in the Galaxy's penalty area in the third minute of extra time, but two Red Bulls couldn't finish. After Galaxy owner Phil Anschutz received the MLS Cup that bears his name because of his steady financial support of the league during its shaky years, Galaxy captain Maya Yoshida carried the trophy to his teammates for the celebration. The Galaxy extended their lead over DC United (4) for the most MLS Cup championships in league history. The Red Bulls remain one of three original MLS franchises never to win the title, along with FC Dallas and the New England Revolution. The Galaxy finished 17-0-3 this season at their frequently renamed suburban stadium, where the sellout crowd of 26,812 for the final included several robust cheering sections of Red Bulls supporters hoping to see their New Jersey-based club's breakthrough. But this season was about the Galaxy's rebirth. The club famous for employing global stars from David Beckham and Zlatan Ibrahimovic to Robbie Keane and Javier "Chicharito" Hernández swiftly turned itself into a contender again by acquiring young talents without international fame. The Galaxy signed Pec from Brazil and grabbed Paintsil, a Ghanaian playing in Belgium. The duo combined with Joveljic to form a potent attack with orchestration from Puig, one of MLS' best players. "Losing a guy like Riqui after the performance he put in all season was devastating," McCarthy said. "Even if he wasn't on the field, we did it for him." Get local news delivered to your inbox!
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Angela Rayner to ride roughshod over planning laws in bid to meet new homes target and thwart protests by Nimby neighbours By ANNA MIKHAILOVA Published: 23:32, 7 December 2024 | Updated: 23:53, 7 December 2024 e-mail View comments House-builders will swerve scrutiny by local council planning committees in a government bid to thwart protests by Nimby neighbours and fast-track new homes. Deputy Premier Angela Rayner will on Thursday announce an overhaul of planning rules to let developers ‘skip’ a stage in the process and foil Nimbys, the acronym for ‘Not In My Back Yard’. However, critics fear this means residents will not be able to have their objections represented. Ms Rayner said: ‘Building more homes and infrastructure across the country means unblocking the clogged-up planning system that serves as a chokehold on growth. ‘The government will deliver a sweeping overhaul of the creaking local planning committee system. ‘Streamlining the approvals process by modernising local planning committees means tackling the chronic uncertainty and damaging delays that act as a drag anchor on building the homes that people desperately need.’ Under the scheme, applications that comply with local development criteria for how many homes need to be built will bypass planning committees entirely. Those applications will go straight to planning officers, who will look at technical details including whether they comply with building safety regulations. Deputy Premier Angela Rayner will on Thursday announce an overhaul of planning rules to let developers ‘skip’ a stage in the process and foil Nimbys, the acronym for ‘Not In My Back Yard’ The overhaul of the current rules around planning is a bid to meet the Government's new homes target (Stock Image) Last week Sir Keir Starmer slated ‘blockers and bureaucrats who have stopped the country building, choked off growth and driven prices through the roof’ Planning officers will have an ‘enhanced decision-making role to implement agreed planning policy’. Planning committee councillors, who will still consider more complex developments, will receive mandatory training. Government sources said the change is needed to speed up house-building and meet Labour’s target of creating 1.5 million new homes in five years. Read More EXCLUSIVE NIMBY locals blast 'stupid' plans for 8 newbuilds built on sliver of land behind their gardens In the first three months of this year, fewer than one in five applications were determined within the statutory 13-week period. ‘This move would skip that stage and would fast-track development,’ a government source said. The planning process reforms, which will be put to consultation, are designed to ‘tackle unacceptable delays and unnecessary wasting of time and resources’. The source added that planning committees are ‘councillors acting in a representative capacity’ and can significantly delay the process. Last week Sir Keir Starmer slated ‘blockers and bureaucrats who have stopped the country building, choked off growth and driven prices through the roof’. But Labour-run councils said they were on a ‘collision course’ with the government over the plans. Councillor Yvonne Gagen, leader of West Lancashire Council, called the targets ‘impossible’. Dr Victoria Hills, chief executive of the Royal Town Planning Institute, said: ‘By empowering qualified planners to implement planning policies, councillors will have the time to focus on more significant cases, effectively speeding up the planning process. Angela Rayner Labour Keir Starmer Share or comment on this article: Angela Rayner to ride roughshod over planning laws in bid to meet new homes target and thwart protests by Nimby neighbours e-mail Add comment
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Ohio State AD: Ryan Day ‘absolutely’ back in 2025Even in this banner season for military academy football — complete with winning streaks, national rankings and a conference championship — the biggest goal remains the same. For Army: Beat Navy. For Navy: Beat Army. With the college football landscape changing at a furious rate, the significance of this matchup adds a dose of tradition to mid-December, amid all that talk about the transfer portal and the new expanded playoff. "We've had a good year. You make it a great year by winning this game coming up on Saturday. Frankly, that's just the way it goes around here," Army coach Jeff Monken said. "It's a game and a season really all of its own. We don't apologize for talking about it all the time. We talk about it all the time, and it's 365 days a year." Saturday in Landover, Maryland, is the 125th matchup between Army and Navy, and although these two programs are long removed from their days winning national titles and Heisman Trophies, this is a historic moment in the rivalry. The Black Knights and Midshipmen have combined for 19 wins this season, their highest total ever entering this game. People are also reading... Army (11-1) is ranked 19th in the AP poll after beating Tulane last week to win the American Athletic Conference — the first league title of any kind in the team's 134-year history. Navy (8-3) was ranked as well earlier this season after starting with six straight victories. "I knew we were going to be an improved football team," Navy coach Brian Newberry said. "Didn't know exactly what that was going to look like. I think certainly we've improved in a lot of different areas. I'm excited about the season we've had." Common opponents This was Army's first season in the AAC, putting the Black Knights and Midshipmen in the same league, although their annual matchup is considered a nonconference game. For a while, there was a chance the teams could meet twice, with a conference championship clash coming before the regularly scheduled Army-Navy game, but that didn't happen. Their most prominent common opponent came from outside the league. Notre Dame handed both Navy and Army its first loss, beating the Midshipmen 51-14 and the Black Knights 49-14. Within the AAC, both teams beat Temple, UAB and East Carolina. Army beat Tulane and Rice and Navy lost to those two teams. Army and Navy also each won its nonconference game against Air Force. Trophy time Those victories over Air Force mean this season's Commander-In-Chief's Trophy comes down to the Army-Navy game. It's the first time since 2017 that both teams enter this game with a shot at the trophy. It's also the first time since 2017 that both teams enter the game with bowl bids secured. Navy faces Oklahoma in the Armed Forces Bowl and Army takes on Marshall in the Independence Bowl. Back in Maryland This year's Army-Navy game is at the Washington Commanders' home stadium in Landover. It was also held there in 2011. This is the first time the game has been in Maryland since Baltimore hosted it in 2016. Baltimore is also up next in 2025. Chasing a record Army quarterback Bryson Daily has 29 rushing touchdowns this season, which is tied for the FBS lead with running back Ashton Jeanty, Boise State's Heisman finalist. Only one QB in FBS history has run for more TDs in a season than Daily. That was Navy's Keenan Reynolds, with 31 in 2013. "You come here to play in this game. The biggest stage possible, millions of people watching and a sold-out NFL stadium. It's awesome," Daily said. "None of the games that happened before this matter. We're going into this game like we're 0-0, they're 0-0 because that's just how you have to come into this game." Decisive Navy's closest game this season — win or lose — was a 56-44 win over Memphis. The Midshipmen are the only FBS team that hasn't had a game this season decided by eight points or fewer. AP Sports Writer Stephen Whyno contributed to this report. Be the first to know Get local news delivered to your inbox!