Good afternoon ladies and gentlemen and welcome to this non-farm payrolls webinar with me Michael Huston and my colleague in Toronto Colin Szynski on Friday the 7th of August 2015 and the most important U.S. jobs data since the last one If I can be so glib the reason this this particular report I think is it is So important is I think as a result of comments made by Fed policymaker Lockhart now while I'm talking I'm going to be talking I'm going to be showing you the various disclaimers that We have to display for compliance purposes So you can just sort of you know absorb them as you wish while I flick through them But ultimately there to protect us protect our keep our compliance team happy Also protect you guys as well So basically the reason this jobs jobs jobs data is so important is because of comment made earlier this week by Dennis Lockhart the FOMC voting member and he basically said that The bar remained very very high for him or for the Fed to not raise rates In the September meeting now obviously that set the cat amongst the pigeons given how The U.S. jobs data has been in recent months. It hasn't been particularly bad, but it hasn't been particularly great either the unemployment rate is of five point three percent and It is it's probably it's probably at a multi. It's probably at a multi-year low The concerns I have and I think probably they're not shared Quite quite by as many people as probably there should be is the lack of inflation Be that as it may mr. Lockhart was directly contradicted Well, not so much directly contradicted but certainly mr. Powell who's a permanent member that permanent voting member of the FOMC and there's 10 of them Was slightly more circumspect When questioned about the whether or not we can expect a rate hike in September and it's not really Surprising when you actually look at the unemployment data and then you look at the the inflation data and let's not forget here The Fed has a dual mandate. Yes, they are or do seem very very keen to pull the trigger on a rate rise But if there's a cautionary tale in any of this look at what the Bank of England did yesterday Look at what the Bank of Japan did did overnight Pricing pressures, I think more than anything could well keep the Fed on hold You need a majority of six voting members to vote for a rate hike in September And at the moment mr. Lockhart is the only one who suggested that the bar remains very high for him not to vote for one So the big question is is mr. Lockhart? Is the equivalent to the UK's mr. McCafferty? You know if he's gonna be an outlier Ultimately if he is then we're not going to see a September rate rise So I think with respect to what we're expecting for these numbers Let's have a quick look at the Bloomberg terminal because it's not just about US jobs It's also about Canada jobs So and in that context we're going to have a look at the Canadian dollar in particular because I think We could get a significant move in that today on the basis of not only the non-farm payroll states in the US But also the Canadian jobs numbers as well And I will hand you over to Colin to explain what he's expecting for the Canadian jobs numbers and what may prompt a strengthening of the Canadian dollar Thanks very much Michael. So in Canada We had an overall decline of about 6,000 jobs last month The street is looking for an increase of 5,000 this month And I'm calling for an increase of 10,000 this month in in Canada where we saw last month was we had a full-time employment increase of about 65,000 and that was offset by a part-time decrease of about 72,000 or 71,000 So I think we'll see a little bit of a retrenchment in that it's July There is a lot more part-time work in the summertime So I think we'll see part-time rebound and I think we'll see full-time retrench a bit because when we do get these Really big increases in full-time jobs. They tend to come back off a little bit the next month This isn't unusual and the other thing is we've got now got a substantially lower Canadian dollar I think it's too early for the rate cuts to have taken effect but the the lower dollar certainly should start to help the Canadian economy and mitigate some of the impact of the oil price crash on the on the oil patch and So even though we're still seeing weakness in the energy sector I think we'll start to see some of the other Regions and other parts of the economy pick up the slacks and I am looking for moderate increase in the in the Canadian jobs This month the as Michael noted the loonies gotten extremely oversold against a number of currencies here And and it does look like it's getting pretty washed out at at this point in time And and a lot of that's come from the the decrease in crude oil So Michael is bringing up right now the pound pound cad in particular as one Let's look at this chart and Colin can explain it and we pointed it out to him But yesterday obviously we saw the Bank of England Rather surprisingly be slightly more dovish and that was the reaction a bearish engulfing Yeah, it's a big turnaround there. Could you bring up the RSI on this Michael? I can indeed You carry on talking. What side of our side would you want? Just a traditional be fine. How many events 10 10 fine Is what we're going to show is this which is this is the same as what we're seeing with the US dollar Which is that the CAD weakness anything against the CAD? Where the cad's the the counter currency is getting really overbought here. So as we had one two three four five at least Moves up into overbought territory over the last of the while and now we're getting this negative divergence here And it's rolled back under 70 So these are all Indications that this moves gotten overdone that the Canadian dollar has gotten really oversold and and probably at this point People are going to be more likely to be looking for a reason to start a correction and to move back the other way And it's not just the spelling Canada chart that is sort of bearing There is a danger of a reversal We're also seeing it on the dollar CAD known though not to the same extent but ultimately here We've got what could potentially be a hanging man on The top side at 132 the key support. I think really sits at 130 60, which is around about 20 points below where we are now So we're at a quite a key level I think in in this regard And I think if you get a strong Canada number on a week US dollar number, then you can see dollar CAD drop very very quickly Yes, but I 130 yes And also wanted to know cat could be active right through the morning at 10 a.m. Eastern three o'clock in London is also the Canadian IV purchasing managers report And that's a fairly more volatile reading But at the same time it could also have an influence on the on Canadian dollar trading through the day So it looks like today's probably going to be an active one for the loonie on on so for several reasons Okay, so that we've quickly covered that the dollar cad identified the key levels and Now what we're going to we're going to look at the actual US numbers and the expectations of what we're looking for now You may recall last month average earnings and these this is probably one of the more important numbers the average earnings numbers actually drops back quite sharply and The Fed has been worried about wage growth Janet Yellen articulated it in April that She was concerned about the weak nature of wage growth. It was the April of June It was one of them. It was one of them. I think it was June actually She expressed concern about it And we saw the annual rate drop from 2.3 percent to 2 and we saw the and we saw the monthly rate Drops a zero percent So keep an eye on that because I think if you get a strong average earnings number that is going to be dollar positive If we get a strong payrolls number that's going to be dollar positive But anything below 250 is probably going to be a little bit woolly So you may not get much of a reaction if say for example non farms coming at 240 or 245 It'll still be fairly positive Given the fact the dollar has weakened thus far this morning. You look at euro dollar. It's at 109 40 So if you get a strong payrolls number, you can get a move back to around 108 50 if you get a weak payrolls number So that's anything below. I would suggest 210 205 Then you could see euro dollar pop up to 109 80 But I don't think it will be strong enough to push it through 110 So again, you know, it really depends on the strength or weakness of the number anything below 200,000 Non-farm payrolls say 190 195 you could certainly see your dollar go up to 110 Quite quickly the unemployment rate is probably not as important. You need to put it Into the context of the participation rate and the participation rate is actually very important in that regard Because it's at a 35 year low at sixty two point six So if the unemployment rate drops and the participation rate drops It's not as bullish as you might think that it is It just means that the more people dropped out of the workforce and therefore that means the unemployment rate is artificially Low I think really the the key rate for me is the use six unemployment rate Which I don't think is displayed here, but basically you drop out of the unemployment numbers If you've been out of work for more than two years So you're not actually classified as unemployed even though you're not working and that's why I think the u.s. Unemployment rate is probably not a particularly accurate Barometer of the health of the u.s. Economy and that's really what you guys need to bear in mind if you compare it to the UK economy Where the the participation rate is above 70% it is slightly different. So really is about not only the non-farm payrolls number How far away is from 200,000 and how you know whether it's near 250 and 200 But also it's about the average hourly earnings if we get a neutral report then basically we can probably all go down the pub Or maybe I shouldn't say that Maybe I shouldn't say that out loud, but let's look at some other key areas with respect to the the currencies To start off with them will then we'll look at when then we'll look at the major indices now for cable We can see the box range that we're in here That pretty much Gives you the type of range that we're looking at the moment. We're looking around about 154 60 on the downside 156 80 on the top side If we get a breakout on the cable what I would like to see is a move through 157 And on the downside with respect to the cable I'd really want to see a move through 154 and a half But even if we do break through that we've got solid support just below 154 with the convergence of the 100 and 200-day moving averages So certainly bear that in mind as well looking at euro dollar. It's a similar sort of story I've already articulated a little bit of it in the preamble just now Big big support between 108 20 and these lows in the middle of July and the lows of this week Which is around about 108 40 50 on the top side It's finding it a little very very difficult to get through 110 Obviously, you've got these two moving averages here as well the 50 and the 100-day Which are likely to act as a bit of a cap as well and obviously we've got these declining highs But overall the oscillator is not really telling me anything So it's very very difficult to establish with any degree of certainty what the direction is for euro dollar at this moment in time Dolly ends slightly more interesting We broke a key resistance level Earlier this week at 124 75 80 But we haven't really managed to really kick on away from it 125 is acting as a bit of a barrier in the short term The bigger level is around about 125 80 So again if we get a number in excess of 240 or 250 on non-farm payrolls expect Dolly in to shoot higher If we get a weak number then again expect us to drift lower, but not by too much It's interesting. They're also Michael and that when you're getting a bit of a negative divergence in the stochastics So you had a higher high in July look at the July and August highs higher high in August lower high on the stochastics And you're also and now you're moving up into this kind of resistance band between 125 125 85 there and if you did you if you of course if you hit that 125 85 and failed Then you have a big double top. Yeah, you do and above the bottom of the double top is a bit around about 120 and a half So yeah, which is the which is the July lows So that's quite significant. Well, let's have a quick blast through the major indices This is important in the context the US small caps because the US small cap is sitting on a very important trend line, but also it's broken below its 200 day moving average Which for me is actually? Probably probably significant. It suggests there's a little bit of weakness Underlying that so again, what will cause the US small caps to continue to decline? The S&P 500 is looking a little bit weak, but ultimately if we look at the S&P 500 It's still in a broad range, but we do appear to be also finding Sorry of support again, I've gone and brought out the wrong chart. That's me not paying attention. There we go So again, we're right on the 200 day moving average on the S&P as well Now we have broken below it in the past But you can see the amount of volatility that we hear the market is extremely undecided here You got long negative candle long positive candles in long negative candles That speaks to me to a market that really can't make up its mind Ultimately the bottom of the range is at 2040 top of the range is around about 21 15 21 20 maybe slightly above that with that bang in the middle of it I don't really have a strong view one way or the other on that and because of that I think it would take a pretty extreme reading in non-farm payrolls to really kick it one way or the other out of this range You might get a short swing, but a smaller swing Maybe ten points or something but but anything beyond that to really move it You'd need a really big reading like above 250 or below 150 kind of thing to to really move this market Otherwise, it's probably likely to continue. It's it's ongoing chopping us here And the dollar is looking a little bit weak. I think there's obviously been a leak Maybe there's been a whisper number of a weak number So it's just gone up to 109 60 So it's either someone's got a whiff of a weak number or someone is spoofing the market higher and trying to take out a few Stop so this could be quite interesting to digest over the course of The next few minutes now there is one other chart that I need to have a quick look at Put see 100 finding a few offers around about 67 50 67 60 I'm struggling to see where what's what's going to drive that market higher Just remember what we were saying about commodity prices ladies and gentlemen They continue to remain weak and that for me. I think it's going to be the key Factor over the next month or so given the fact that the Reuter CRB is at its lowest level since 2003 So is the Bloomberg commodity index oil prices are down 25% since the May highs We really need to factor all of these things in so, you know, are we getting a bad number? We don't know faff ex-market seem to think that we might let's see 215 pretty much right down the middle 215 right down the middle 0.2 on average earnings 5.3 unemployment rate. Let's look at and it was 6k so Minus 17.3 Canada yeah, so as I figured a bit of a retrenchment Yeah on the full time and and that was offset by the 24 increase in the part time So yeah, we're just kind of we had some extreme readings last month And this is just kind of retrenching that a little bit not it not a big surprise there and overall overall positive numbers So 6k declined last month for Canada 6k increased this month. It's pretty much running flat so really on that really on a Based on that basis. It's a bit mew Yeah, there's not really much to say Canada's slightly weaker dollars slightly stronger you can see from there But ultimately I don't think there's really much in that to suggest that we're going to get a significant move Higher or lower certainly if you look at that there, we've got a very long lower shadow We may get a little bit of a move back into this this candle here But ultimately and I'll be surprised if we see a move back much above Back to 132, I don't think we'll see that do you know maybe we may get close to a bit probably not where's the time We've broken above these series of highs here. So we are getting a little bit of dollar strength Certainly Dolly Dolly end appears to reflect that it's going to 125. Let's see how it reacts above 125 or near 125 That's been the high ladies and gents on Dolly end for the past few sessions Is it are we going to get a few are we going to get a few stops triggered as we go through 125 here? We are here. This was the previous peak this week Might be worth a little small short position. I actually I shouldn't say that should I Not allowed to say that But certainly if you look at that chart there double top there You know and you've got the previous highs just below 126, you know, maybe it'll want to have a go at it but Yeah Looking at dollar card again, certainly certainly testing the weaker side. Let's look at the pound against the dollar It's the 154 60 level. I'm particularly interested here on the cable We go back a little bit further Any questions guys ladies gents just fire them over if you want us to look at something in particular I've drawn a line through these lows here, but ultimately what I'm interested in here is That number there and it's around about 154 60 154 65 There we go. Let's extend that across these lows here See, yeah, so I mean that part from those twin lows there in the week beginning the 13th of July We haven't really been below 154 60 so Certainly certainly on that basis. I don't really think there's anything too much To get excited about with respect to these numbers Colin I think we're going to test the ISO. We're going to test the boundaries of the ranges But ultimately I think as we head into the weekend these ranges should remain intact. I agree these numbers are pretty much They're not that they're not far enough off of off of expectations to to really move anything So it looks like we'll probably be will be now sitting back and waiting for the next I guess waiting for the next day to report Really why not on this one because this probably doesn't really tip the balance for either side really at this point It's just middle of the road and things just keep on tracking. Yeah, so overall. Well, I think it's positive for September It certainly doesn't take September off the table. No, definitely not. It's definitely not But I think in the context of pricing The labor market's fine for the Fed for me. It's about inflation or the lack of it now and If you if you look at what's happening in commodity markets, I'm I will look at the DAX sir I've just been asked about the DAX the Germany 30 will look at that in a minute With respect to prices for me I think you just you just can't ignore the fact that every single central bank this year has cut rates There hasn't been one single central bank that has cut rates But in the last 18 months every central bank that has raised rates has had to cut them again Bank in New Zealand Bank of Canada, that's the Bank of Canada cut rates in the last raised rates in the last 18 Did it know there is rates about five years ago, but that's the back now I come back. You know, I know I'm thinking of the RBNZ. Aren't I? Yes, I think they're the ones who did that. Yeah, they did. Yeah, see that's an old age catching up with me Colin That's why I've got you as a backstop. Okay, so let's look at the Germany 30 the DAX I Mean the the direction of travel there We've we we finally broke out of this downward channel But ultimately what we haven't done is really taken out these highs from May All we've always really done is we've slowed the pace of the decline off the highs and for me I think if you're looking for what we I think what we really need to see here with the DAX or the Germany 30 is a move towards Move through 11,800. Otherwise, what I think we're going to see is a slow drift back down I think as with a lot of the other indices we're in a range We're at the top of that range. We've just come off the back of seven successive daily rises and now we're looking to consolidate a little bit at these highs maybe drift back down to around about 11,000 400 11,000 500 but ultimately I think We've topped out in the short to medium term and we'll probably come back and test This little line that I'm going to draw in from here like that Which also happens to nicely coincide with with this line that I've drawn in through here So what we've got here going on is a little bit of a sideways consolidation on the Germany 30 The oscillator is starting to roll over a little bit and I think as we head into the end of the week We started the week down here, and I think as we drift into the weekend We'll probably drift down back to around about 11,500. We've made some good gains this week there's not really I think any indication that we're going to get a Significant move either way now, and if anything we'll probably drift in we'll probably drift a little bit lower into the close Stirling Canada is on the move Let's have a quick look at that Colin because that was something that we were looking at before before we before we came in So obviously this is a daily daily chart here We're getting a little bit of a It's still pretty coming off. Yeah, we're still coming off But I was still coming off what I would look for for this I think if I'm looking to get short of that I'd sell it into a move around about 204 204 20 perhaps With a stop loss above that why 204 20? I think it's just simply because retest of that previous loader Yeah, and it was also just around about the peaks here So what you've got is a congestion point. We call this a congestion point where highs and lows sort of tend to coalesce and come together and You may get a little bit of selling interest in that corridor there between 203 90 and 204 20 the oscillators still the RSI is starting to push higher a little bit. So You know the moment we get an oversold bounce here But you might get an unsold barely a big run at the highs But I don't think what I don't think what will happen is I'll be surprised if we break back above 204 for any significant lengths of time And when you're looking at something at the RSI by the way We do have something where it's getting oversold and then and then it starts to pop if if the RSI then starts to fail around 50 That's confirmation that you've gone into it into a Into a downtrend when you're in this rising trend the last couple of weeks You'd push up into overbought territory keep going But you had your RSI was getting consistently bouncing up off of 40 if you've got a trend change then what you'd start seeing is the RSI running into resistance 50 60 and And then pushing into oversold that's indicative of more indicative of a downtrend And we're just starting to see that that tipping point possibly come in with the last that where RSI had dropped from 60 to 30 Like they did earlier this week Yeah, absolutely Pretty pretty sound pretty sound that may So let's have a quick look at Apple because I think there's been an awful lot of talk this week that You know Apple was starting to drag and the broader US market lower I did I did a bit of video earlier this week about Apple and the potential for a little bit of a decline So let's have a quick look at that What we've got here obviously Apple's not open at the moment But we we've seen a little bit of a break lower We've seen a break below the 200 day moving average. Why is that significant? Well, because it's the first time we've been below the 200 day moving average since 2013. We did briefly break below it Here around about here, but that also happened at the same time as the 50 day crossed above the 200 day moving average Which is a golden cross Now golden cross tends to be fairly bullish So in this case even though we dropped below the 200 day moving average because the 50 crossed above the 200 That those those two indicators counteracted each other So you probably wouldn't have gone short on that break because of the contradiction between the two indicators What we've got here is the 50 day moving average is starting to roll over Towards the 200 day the 200 day has been breached Now what we have got here, which is a little bit of a which is a little bit of hope is we've got a counter attack line Counter attack line is whereby you get a strong down move on the one hand And then the the following days candle comes back and retest opens lower comes back and retests and closes above the Open sorry closes above the close of the previous candle so it counterattacks the move More or less completely what we need to see now happen with respect to this apple move is where it's a hold above The lower candle here from yesterday's price action, which we can establish Is round about $114 give or take and for it to move back to around about 119 yeah, you'd really wanted to fill in that gap. Yeah at the top of your circle there Yeah, there is a there is a bit of a gap there. So we need to fill that in We'll see where we open today Certainly if I'm looking at the s&p right now. It's slightly lower So there is a concern that we may drift back down ultimately. I don't think we've seen the bottom in apple I think we could come back to this line down here And that's the trend line that I've drawn in from the lows Go to the one week chart of 2013 okay, we've also we we will potentially also going to be closing below the 55 sorry the 50 week moving average so 50 week moving average Potentially quite negative, but when you look where the 200 week moving average, there's still plenty more Downside in this without without just coming out of the overall uptrend And yeah, that for me is probably more important than anything else. It's not just about The correction itself. It's does it actually undermine the overall uptrend and in this context for me It doesn't and when you actually look at the fundamentals of Apple which you can do here with our morning-style research Capability, let me just quickly get that working We can see that the quantitative fair value estimate for Apple is $125 an ounce According to the metrics. It is undervalued certainly it's undervalued relative to its peers But I think there's an awful lot of people who are disappointed with the Apple watch me included I Think it's a bit of a waste of money. It's certainly not something I can get enthusiastic about and I like Apple products I've got an iPad Beeping away next to me You probably could hear it in the background while I was talking with all the news alerts coming out But you know if I compare look at Apple I look at that stock and I think I actually quite like that stock I think it's fairly valued But then if I go and look at something say for example like Netflix Which Colin you covered believable is this is just parabolic. I mean, this is just totally totally parabolic since the beginning of the year we've gone from 35 40 45 dollars to $130 but it's blown through the tile you had a rising channel and you've just ripped through the top of that And it's gotten the way ahead of itself and now look at the quantity of fair value here 99.8 but more importantly than that look at the Ford PA right here 555.6 Current price earnings is 278.5 And even people oh man Oh go on Colin you go ahead even for people that think okay fine Well, Netflix is eating everybody's lunch and it's growing like crazy I did a blog overnight that show that looked at the prey of the PE to earnings growth where you say okay The your people will pay for growth So your PE should be equivalent to your your growth rate And so power would be one and most of the media sector trades between about point five and two Netflix is P PE to growth ratio is 14. It's insane. That's like bubble levels That's that's tech tech bubble kind of kind of valuations on on Netflix to the point that even if it does Deliver on the growth that that people think is out there. It's still ridiculously overpriced relative to that So it's it's quite vulnerable here any kind of a hiccup out of Netflix and that thing could be in that could be in trouble And you look at the and you look at the price earnings and the four PE for Apple Which basically, you know is a cash. It's a cash cow 13.3 11.5 if any stock is undervalued it's this one Netflix is a bubble about to explode Wouldn't touch it with a barge pole. That's not recommendation by the way Well, maybe it is I don't know But it's you know, you but then again, you know, it's like you get to the top of something And then it doesn't take much just a little breath to kind of push it over once it went to reach of that kind of Exhaustion it wouldn't take much to send that back the other way a little little puff of wind and then suddenly Go on yeah, so that's a quick quick. Let's have a quick look at commodities Let's have a look at crude oil because that for me is also quite important And we can see that here that we're approaching a key support level on WTI around about $44 a barrel But ultimately we still can go all the way back to the March lows at $42 a barrel And certainly if you're looking at the supply and demand dynamics of crude oil There's this this Iran nuclear deal and everything else I think it's perfectly feasible that we can go all the way back there you look at crude oil You look at the direction of travel. We may get a bounce back to $49 or $50 a barrel, but I I serious I sincerely believe that crude oil stays at these sorts of levels and Commodity prices stay at these sorts of levels It's going to be very very difficult to make the argument for a fair hike in September Doesn't say that it won't be difficult to make the argument for it in December But I think it's more than likely We'll get it in we'll get it in December if we get it at all I'm certain to think that the Fed might hint in September and and increasingly I'm pretty sure they're going to do the sneak through one in December like they did with tapering a couple of years back Yeah, I think I think you could well be I think you could be right there Colin most definitely And you're right about the inflation I mean it's still struggling here it wouldn't once we took out the the 61% Retracement it pretty much suggested you were looking at a full round trip and and the way that's been trending since sure It looks like it wants to be doing a full round trip when what'll be interesting is once it gets back into the That 42 area where it bottomed out before and you get close to that 40 round number is Is will it will then start to find support or do you do you breach that the 08 low was around 35? but even going back a lot of the OPEC ministers and stuff like that over the course of the last year or so have Have talked about that kind of 40 level being being a big one. Yeah, I think I think you're right I mean this 40 levels the round number. They're always they're always a nice round numbers and they're always, you know, very very Susceptible to aggregation of buy-and-sell orders in and around those sorts of areas Brent crude is just as important if we look at that here Worked it off the 2010 lows we can see from here. Look at where it was in May It's around about sixty seven sixty eight dollars a barrel Look where it is now below fifty dollars a barrel and it's finding itself very very comfortable below fifty dollars a barrel Which means that we could potentially come all the way back to 45 having broken below the March lows Which had initially acted as a little bit of support We're now back below it and we now look as if we're probably going to head towards forty forty forty eight dollars Forty-seven forty six and forty five over the course of the next few sessions. Yes We are oversold, but the momentum is with the price and when the momentum is with the price You stay with the momentum trade and and and the direction of the trend very dangerous to pick the bottom Well as we look at the WTI chair it could just stay oversold for quite a while Brent isn't Isn't quite as far along on the being oversold as WTI isn't that just continued to trend lower Yeah, exactly. You can see it here. We hit bottom there on the on the slope stochastic there And we just carried on going down, you know, we stay below 20% the whole time If we get back above 20% we could see a short squeeze, but at the moment the momentum is negative We can see that here and the likelihood is it's likely to remain so now we could get a stabilization around here Which could make push this back up into slightly more positive territory, but at the moment the momentum does appear to be favoring Favoring the dollar over the oil price. You look at copper. It's a similar sort of story again very oversold multi-year lows and You know the only thing that I can think would probably turn that around is The Chinese data that we've got coming out next week. So So there I mean that's basically something we could cause a commodity price rally next week It's a Chinese data, which is out in the middle of the week. I think Wednesday morning So it might be worth keeping an eye on that next week Unless anyone has any other questions on the chat then Colin and I will wrap this Wrap this webinar up. I hope you've enjoyed Hope you've enjoyed the session ladies and gents. We'll post it online in the next 12 hours. Otherwise We'll see you again This time next month for the next most important US payrolls report You then the next one will be it will be a little bit closer to the meetings So I think even if you do get a inline readings like you do this time We'll probably see a bigger a bigger reaction plus we've got the the for the Fed There's the Jackson Hall meeting at the end of this month as well Which is right around the same just before the nine-farm payrolls report I think it's one other thing ladies and gents We will be doing a preview to the FOMC meeting on the day of the Statement and the press conference. So tune in for that because we might have a little bit more color to add to the canvas with respect to that there are details of it on our education webpage cmcmarkers.co.uk and Click on the education section to sign up for that because I think that could be fairly interesting And then you know, so we will do it four hours before the announcement Yes in the end this month our annuals to beat is on the 20th correct. I think so. I can't remember without it. It'll be on the it'll be on the website But no the the September one will be a preview to the FOMC. So you really need to tune in for that Otherwise ladies and gents, thanks very much for listening and have a great weekend fantastic everyone. Thanks for joining us


We had multiple opportunities to win that game. We didn't You know the drive the second to last offense drive, right? That was the one that we moved the ball a little bit And then we had the third down call right the one they picked up. Yeah, so They picked that up and then we punted we just got to do a better job Since we had plenty of chances to go pick the ball. We didn't and you got to give Washington credit They may plays and they had to Quarterback extended plays he threw them up there and her guys came down with them when Last play it's more of a protection thing. So can we we believe in the guys are out there? There's a couple things we have a multiple packages. It's not one play it's situational and We feel pretty good about Kyle going up playing big-boy ball and Hayden and And red and those things get packaged and there's something there that we wanted for OZ and Mike if we had gotten a look We didn't so that was the thought Michael Well, you trust them. It's a lot of it is about ball security You know CP does a lot of things for us and then it was Mike or Goldman So you know go guys you trust right there in four minutes. So again We didn't get off the blocks and so they back us up and you got to evaluate whether or not and obviously hindsight is 2020 Sure, you pick it up screen whatever So yeah, I'll go back and look at it. What should I done different it's all fair But we trust Mike Davis Michael. I mean, that's that's why he's in there. It's about ball security It's about making the right decisions making the right reads that one's pretty obvious Yeah, you know that it's a great question Patterson had a good game. He was very effective in multiple roles for us And we you know CP is a good football player, but you know, it's hard to say right now You lose the game like that, you know to find the bright spots there. There's always bright spots, you know, I just Tomorrow you go through the film things we got to work on and we got to get a lot of things fixed in our Yeah, we got to make the plays they throw you the ball you got to come down with them I mean, I mean the history of the NFL you drop For sure interceptions. Sadly, you've seen a lot of the other outcome on it. You know, we get them down there You know credit to credit to Washington they extended the plays like the one he found in the running back late And that was a play extension got leaked out We don't make the play they do they get the touchdown to go ahead Same the one with the one to McLaren. I mean, I think he was thrown into the Into the windows there and all came down and they came up with the play. So that was the difference late I don't know if it's missed tackles. I mean, maybe it's missed opportunities to really affect the quarterback You know, we gave him probably too much time. Oh, we dress Coleman So, you know, we wanted to see Wayne get it and we had multiple packages for CP So we took an extra running back in the game try to get some more carries out of it Again, I'd have to evaluate tomorrow. But, you know, it's part of the as we look at our roster week to week What do we think the matchups are? You know, you don't want to overuse some guys in certain spots when they can help you somewhere else So it all goes into it. Well, you got to give them credit. They made the plays. I don't think it was anything great schematically You know, their biggest plays came a lot of times on play extensions. So we got to go look at the film See where the breakdowns were obviously we need to No plaster, you know, the ball the quarterback gets out We knew he went to run and he could extend it and then you got to give credit to them but we got to do a better job of you know with our rush plans and You know, I just had to go back and look at the film see but but they did they get him credit They made the plays they extended them.  Obviously he didn't come back in the game So, you know Tomorrow, you know, we'll get we'll get him him and Eric evaluated and give you more there. What's that? I'm sorry Yeah, just a look. No, there's multiple things.  So Get out to go back and look at the film Michael In that moment going through our head was get the first down I don't know. It's just one it And that situation just got to get the first down It hurts it does it really hurts, but um, we got a short week. We've got a lot of London We got to put this on how behind us and I'll just make sure we keep it rolling Um, I think it was right perfectly. I haven't seen the film yet But um, they give them their credit they won a game anytime you lose a game like that, you know It hurts it really stains, but uh, I Felt like our defense can play offense kind of play and uh, I feel like this team is made great strides from the first game so, I mean at the end of the day we lost but I Think we're just gonna start it. I don't think it fell apart. It was just four minute situation and uh We just didn't get it done. Um, you know, we have self-inflicted wounds Uh, we got to get better on handling penalties hurting ourselves. Um, that's the main thing and uh And just you know, give them credit, you know, they won a game The last play it was a Hail Mary my role Getting in zone Oh, no Hail Mary.  I thought our guys got down there. They did a great job of getting in position And uh, you know, that's just part of the part of the game. Sometimes it doesn't bounce your way But there's a lot of other things throughout that game that could have put us in position to not be there Yeah, that's you know, if we want to be the kind of football team We want to be and type of offense we'd like to be I think You know, you get in those situations You want to be able to move the football burn clock and get some first downs and in that football game We didn't do it. Uh, that part's disappointing and we've got to improve there Well, you know, that's that's part of of being a professional and uh, you know You've got to get back to work tomorrow Have the mindset to improve make the corrections uh from today's game And you know apply those towards getting better next week in practice and finding a way to go to london and get the job done And uh, it's a long haul. There's no doubt about that Um, but the improvement, you know needs to happen and we have to have the right mindset I think for the most part that's been good all year sometimes in these type of games. It can be difficult to Um, you know get in there with the right energy and and those kind of things and you know That's on us as players to to make sure that that we go in uh tomorrow with the with the right frame of mind I think we got to make plays, you know, I think, um, You know when your numbers called whether it be in the run or pass game and we've got to execute and we've got to go out there and and and get the job done as players and so um, I think there's opportunities to do that and uh, you know, we've got to do better as players Can can you speak up, please? I thought he did a good job I mean, I thought he did a good job today The one on me I'll take it It's jumbled mess out there when you're playing right and you get hit hard. I mean it felt like I did it for sure, you know, I think You know, I really think it's You're exactly right. It's the small things that add up over time, you know, that that end up costing you and so Uh, and that's kind of what I alluded to, you know earlier To one of the previous questions is you have to go in with the right mindset that Okay, there are plays to be made out there. We can all do a better job and um You know, you can't start pointing the fingers in other directions when we watch this film tomorrow You got to take an honest evaluation of of yourself What you can do better within the scheme And try and improve and and make sure that, you know, we're doing everything Wednesday Thursday Friday You know to correct those things and doing it with the right energy and attitude and You know, I do think it's difficult sometimes after losses is the easy thing to do is to say, oh man, you know, I just feel bad well, you know The really good pros that I've been around are the ones that, you know, take a look at it and and You know are honest with themselves and uh, you know, I think we need to all be that way tomorrow I have to see it, you know It It's hard to explain I don't see a lot of those things when we're playing right? There's a lot of of traffic and stuff flying in front of your face and so, you know, you'd have to Watch the film and take a look at it. I know he makes a lot of plays too and and does some great things for us so Not to take a look at on the film, but I don't really see those things on the field. So I can't really answer He's he's been great for us the first four weeks. I think he's played, you know, extremely well Um You know made plays for us in the run game made plays for us in the past game Um In the return game, he's done a great job. So I think You know, he he he impacts the game in so many different ways. I'm I'm really glad that that we have him I love playing with him. I think You know, he's a bit of a throwback in terms of football player He's just tough. He does a lot of different things and he goes out there and competes really well and um, You know, I've certainly been impressed with him. I've always, you know, I admired him from afar But now playing with him and you know, seeing what he does every day and how he works I think he does a great job. I don't not concerned. I just think that you know, haven't been around long enough You want to get in front of things, you know, and and and you want to be proactive as opposed to being reactive and I think that You know from from a leadership position and a veteran guy in the locker room That's that's what I want to be proactive, you know and let those guys know tomorrow We got to get to work. We got to fix the things that You know, we can fix and and be better next week. We got 13 games to go and so a lot can happen during that time I think the effort's been great. I think the attention to detail is something we can improve at I think for me, it's always making a list of, you know, as I go through the game the things we did well The things I did well and then taking a look at, you know, the things I didn't do well and putting a plan together for Wednesday, Thursday and Friday of You know, maybe I need to get my drops in in better position My hips have better position at the top of drops Maybe I need to be a little bit more patient in my progressions right not move on too fast I try and make notes like that every week and then go to the practice field and work on it And I really don't know any other way to do it other than that Not really.  You get the call that's coming in, you trust the guys that are on the field We got a lot of good players, you know, he's, he's not the only good player we have We have a lot of good players and so We got a lot of good backs too. I think Mike Davis does a great job for us I love our guys and I trust all of our guys when they're in there that, you know, when their number's called They're gonna make plays and for the most part, you know, guys did today We just got to clean some things up and do things a little bit better Yeah Yeah, I think that's, you know, one of those things you talk about You know, whether it's on the third to last drive Or the second to last drive or any of those, you know Where you come away with it a little bit different when the, when the result isn't what you want You know, you play that back in your head and But you got to be able to move on, you got to be able to flush it out of your system and You know, I think the best teams, you know, and certainly the best teams I've been On are the ones that good or bad, you know, are able to do that and so Um, that's kind of what I'm talking about with some of our young guys You got to have that mindset to be able to, you know, honestly evaluate it and then move on But certainly tonight all of us feel that way We'd like to have made a player too that that would have changed the outcome Thank you


Amhara ethnic people of Ethiopia, origin, current location, language, music, dance, and ten interesting facts. The Amhara peoples' enduring legacy, linguistic contributions, and cultural traditions continue to play a pivotal role in Ethiopia's vibrant mosaic of diversity. The Amhara ethnic group, one of Ethiopia's largest and most prominent communities, boasts a rich history deeply intertwined with the country's cultural tapestry. Being in the highlands of what is now Ethiopia, the Amhara people have played a significant role in shaping the nation's history. They have been associated with ancient civilizations, such as the Aksumite Empire, which thrived in the region. Today, the Amhara people primarily reside in the Amhara region of Ethiopia, along with Addis Ababa, the capital city. Their historical significance is echoed in their language, Amharic, which is the official language of Ethiopia and widely spoken across the country. Amhara music and dance are vibrant expressions of their cultural identity. Melodic tunes and rhythmic dances often celebrate communal gatherings, religious festivals, and rites of passage. Traditional instruments like the kraar, lyre, and mesinko, stringed instrument, are used to create captivating melodies. Here are 10 interesting facts about the Amhara ethnic group. 10. Historical Legacy The Amhara are credited with preserving ancient Ethiopian manuscripts and literature, contributing to the country's rich historical legacy. 9. Religious Diversity The Amhara practice various religions, including Ethiopian Orthodox Christianity and Islam. 8. Unique Script Amharic is written in the Jeya's script, which is one of the world's oldest writing systems still in use. 7. Coffee Culture Coffee holds immense cultural significance for the Amhara, with the traditional coffee ceremony being an integral part of social gatherings. 6. Traditional Heritage The Amhara's architectural feats include the famous Rockune churches of Lalabela, a UNESCO World Heritage Site. 5. Empress Zuditu Empress Zuditu, one of Ethiopia's few female rulers, belonged to the Amhara royal lineage. 4. Cultural Attire Traditional Amhara clothing often includes white robes and shawls, reflecting a sense of purity and identity. 3. Historic Sites Gondar, an ancient city in Amhara, is renowned for its impressive castles and palaces, showcasing the region's historical significance. 2. Culinary Delights Amhara cuisine features injera, a type of sourdough flatbread, and various stews, offering a unique culinary experience. 1. Land of Legends Amhara folklore is rich with legends, fables, and stories that have been passed down through generations shaping their cultural identity.


Three reasons why narcissists destroy their relationships, you try to take steps forward, you try to progress your relationship with the narcissist, but they always pushed back, they always found a way to sabotage it, because they don't want a relationship. They don't want commitment, they don't want to give themselves, they don't want to invest anything into you, and they don't want to restrict their freedom of action, they just want the right situation that works for them, which means that it has to be unequal and unfair, and there has to be a lack of commitment, where they're not responsible for anything, where they're not restrained or controlled, where they're not accountable for their actions, but they pretend to want a relationship, they give you the illusion, they love bomb you, they future fake, they lie about their past, they tell you that they were mistreated by their ex, they will tell you whatever they think you want to hear, whatever they think will close the sale, they will sell you a dream, but that doesn't mean they're really about it, so here are three reasons why they destroy their own relationships, one, fear of vulnerability, they don't want a relationship, they don't want commitment, they don't want to be bound to a certain course, they don't want to dedicate themselves to anything, because they're afraid of being vulnerable, they're afraid of rejection and abandonment, but to fully give yourself to someone and experience true love and intimacy, you have to be vulnerable, but they're afraid of being vulnerable because they fear being hurt, they may act tough on the outside, but they're actually very weak and afraid, they just know how to conceal their fragility to protect themselves, because being vulnerable increases the risk of danger, failure and loss, it increases the risk of them being disappointed, so they avoid being communicative and confiding, they avoid being available and accessible, they give you a false character, but they are detached from that character, which is how they're able to discard you so easily, they can give you the silent treatment, they can ghost you, because you were never involved with them, you were dealing with a fictitious character, which they use to protect themselves, which they use to trick you, which they use to have power over you, because that reduced the risk of them being hurt, too, shiny object syndrome, they have shiny object syndrome, they're constantly distracted by an ongoing belief that there is something new worth pursuing, that there is something better, they're always looking for the bigger better deal, they're always looking for their next shiny new toy, they have these insatiable desires that can never be fulfilled, so they fear making the wrong choice, they fear settling for something that is less than what they could have, because they're very arrogant and entitled, they have an exaggerated sense of their own abilities and importance, they believe that they are inherently deserving of privileges and special treatment, so they feel that they should have the best, they may have you, but they're always thinking about what could be better, because they know you can't be the best, they know there must be something better than you, but that could be true for anyone, the problem is that the narcissist cannot find satisfaction in one person, normal people can find satisfaction in the person that they've been developing and building with, but the narcissist will never appreciate you, because of their delusional entitlement and all of these fantasies they have in their heads, which they imagine as future possibilities, they think they can have more than what you're giving them, so why should they settle for you and miss out on what they could get somewhere else, which is why they don't like the idea of being committed, they don't want to be confined to one person, which is why the closer you get, the more they will start behaving badly, because they feel uncomfortable, three, restriction of freedom, they see a relationship as a restriction of their freedom, they see it as imprisonment and captivity, they see it as though they're stuck with you, and because they have a compulsive desire for excitement and adventure, and they like things that are new and interesting, and things that are different and diverse, they can't just give themselves to one person, even if you do love and care for them, because that would interfere with their desires and needs, which are more important to them than a relationship, they see commitment as an act of depriving themselves of something pleasant and enjoyable, which is not something that they want to do, they want to be able to go out and meet other people without being required to justify their actions, they don't want to surrender their ability to do that, they don't want to follow rules or conditions, they don't want to be honest, they may tell you that they do, they may tell you that they can be loyal, but they're not going to do that, they're not going to give up their freedom, they don't want to be responsible for anything, they fear being morally bound to behave correctly, they fear being accountable or to blame for something, they see it as a burden, they see it as a duty and responsibility that is hard to bear, to turn people down who have given them attention, to not flew it back, because that's something they like to do even if there was someone, and if they like it, they don't see anything wrong with it, if someone is complimenting them, they see it as though that person is doing something nice for them, because they're not considering you, they're prioritizing what they want and desire, they fear having to support their commitment to you against opposition, they don't like anything that restricts them, they want to be able to do whatever they want whatever they want, so when you try to take steps forward, when you try to progress your relationship with them, they will push back, they will behave badly, to make you feel like you're not moving forward with them, because they don't want to move forward, and they want you to feel like they're better for you when you let them do what they want, so that you won't expect anything greater from them, because they don't want to be responsible, it interferes with their fun, it interferes with their freedom, they lack morals, and they hate authority, they don't want to follow a structure, they see it as though they're being controlled, which is why they fear commitment, but they will tell you that they're committed to you, they will tell you they agree with your ideas of loyalty and devotion, but that's only in how it pertains to you, they don't want you to flirt with someone else, but they will, they're not going to refuse something that makes them feel good, it's always a double standard with a narcissist, but they can be very convincing, and they will do it behind your back, if they're preventing the relationship from moving forward, if it always feels like it's one step forward and two steps back, that's a good sign they're flirting with other people, that's a good sign they're cheating on you, but they will lie, they will tell you what you want to hear, so that you will continue to provide them with the benefits and conveniences that they're getting from you, but you're just wasting your time, you're just delaying the inevitable, thank you for watching, I hope this video wears in it with you, please like, comment, share and subscribe, if you would like to donate, my PayPal link is in the video description, coaching inquiries, you can email me at coaching.naks if I ever took a UK, thank you for watching and I'll talk to you soon.


Calls have gone out for action to fight climate change after Monday's DIA report by a UN science panel. An activist Greta Thunberg says she plans to go to this year's global climate conference in Glasgow, Scotland after all. The major UN conference will test countries' ambition to limit global warming. And a landmark scientific report on Monday warned it was dangerously close to escalating beyond the limits countries agreed on. The fact that 2021 is currently projected to be the year with the second highest annual emission rise ever. That's not something that if you read like newspapers today it seems like people are doing something, countries are presenting net zero targets like decades into the future and we are taking action. That's not really the case that if you look at the reality. So we need to, that's what we need to be talking about. Of course also talking about the people who are suffering from the consequences today. But the only way that we can prevent these symptoms from happening is to actually go to the root cause. That's what to do. It doesn't say you have to do this and then you have to do this. It doesn't provide us with such solutions or tell us that you need to do this. And that's up for us. We are the ones who need to take the decisions and we are the ones who need to be brave and ask the difficult questions to ourselves. Like what do we value? Are we ready to take action to ensure future and present living conditions? So I hope that this can be a wake up call and that it really gives perspective and that it once again can be a reminder that the climate crisis has not gone away. It's only escalating and it's only growing more intense by the hour. And joining us live from Boston in the United States of America is Rachel Kites. She's the Dean of the Fletcher School of Tufts University. Thank you very much for joining us Rachel. It's nice to be here. Thank you for the invitation. Great. It's very interesting that you know what's happening around us is very serious but unfortunately a lot of people do not necessarily understand or even agree that there's anything like climate change. How do you deal with people not knowing or embracing or understanding what climate change really is? Well it's a good point. For 40 years now the science has been warning us that this is happening. It's going to happen sooner. It's coming faster than we predict and here we have with this report after 40 years unequivocal consensus amongst thousands and thousands of scientists pulling together all kinds of different ways of assessing the science that we are causing this problem, that if we stop emitting harmful carbon pollution into the atmosphere we can actually slow and stop warming. That's something that they haven't said before and therefore we need to do something about it. So I think with fires and droughts the impacts that's having on food, the impact that's having on people moving having to be forcibly displaced around the world that more and more and more we can see we're living right in the middle of it now. You talk to any farmer in any village in any country in the world they'll tell you that the climate is changing and so now we need the political leadership to act in response to the science. Well I mean it's clear that in Nigeria we're really backwards when it comes to you know dealing with climate change and like I said for a lot of people they still feel that it's an act of God or you know the flooding is you know a sort of force of nature of sorts but then I was just saying to someone earlier today we still are not recycling as much as we should, we're still not clearing our energies, we're not we're emitting all kinds of harmful substances into the atmosphere and so what how much education is out there for countries that are not like the US or the UK, I mean even the UK still struggling with some emissions but countries like Nigeria and the rest of the world who do not have the kind of information that everybody else has what form of education is out there for people to embrace this because it's becoming more realistic than we used to think of it. Well here's one way to think about it for anybody watching who thinks that maybe this is just you know God and outside of our control is that we've always had droughts, we've always had floods, we've always had extreme weather events but the human impact is that we're now having them more frequently and when they come they are more intense so the heat is getting hotter, the rains are getting more intense in shorter periods of time and that is us the science is saying that's us that's human beings that's humanity so we're making the climate which has always varied much much more dangerous and that's the education that I think is needed together with well so then what can we do and the scientific report doesn't tell us what to do but it clearly points to the things that we know already one we have to just cut emissions two especially in the next decade cut methane well for Nigeria methane emissions out of the gas infrastructure that the country has anything that can limit that will make the world a safer place we need to protect nature we need nature to take carbon dioxide out of the atmosphere so every time we destroy a forest it makes that less likely so we need to stop deforestation now these are things that we've known that we need to do we now just need to do them urgently. Interesting there is I mean you mentioned something that's really interesting which is deforestation it's a big problem here most of the farmers seem to you know do some form of bush boiling before they start planting season which has also resulted to wildfires but let's come back to the issue of us realizing that we all have a role to play in dealing with the issues in Nigeria where we started having our flash floods and the rains are here it's rainy season and so the flooding is everywhere of course the water levels are going to also go up for the United States and other countries there seems to be a climate agreement of sorts I do not know how many African countries are signatories to that agreement. So every country agreed to the Paris climate agreement in 2015 including every African country and then the United States stepped out of the agreement and stepped back in again with a change in administrations from President Obama to Trump and then to Biden so every country is in every country needs to file a report with the UN every few years saying how it's going to act for its own economy for its own people to take more ambitious action and the Nigerian government has filed its report with the UN this summer. I think this vote we should be very clear the burden of responsibility is on the highly polluting countries so the first order of business is that the United States the European Union China Japan the industrialized the G20 countries that they really have to come with much more ambitious plans to cut their emissions and to provide financing to help other countries cut their emissions and move on to a greener pathway but every African country signed and in fact Africa has constantly African countries have constantly pushed countries to be more ambitious and when we all meet in November at the next climate talks it will be Africa's voice which will be important because there needs to be financial flows into the economies of Africa so that they can grow greener we have to be able to help African farmers adapt to this warmer and more intense weather environment that we have and we have to find lots of exciting jobs for the young Africans that have a future ahead of them a future ahead of them new technologies that use less fuel the renewable energy possibilities that the African continent has so this isn't necessarily doom and gloom there's huge opportunity there and Africa has to demand that other countries take their responsibilities and act quickly. One last question as much as you know we appreciate the fact that there are green cars this green energy um alternative sources of energy we're beginning to um you know have access to them in Nigeria we're beginning to look at those alternatives but they're very expensive for the average person and don't forget that the the lowest person in Nigeria leaves below a dollar per day so if we're incorporating this green energy you know protecting our biodiversity keeping on tapped rains forests the way they are people still need to use kerosene for their stoves because that's what they can afford there are people who need to turn on their generators because we do not have 24 hours power in Nigeria um so do you see this going away anytime soon because it's very difficult to um try to talk that kind of person out of using those things because they cannot afford other alternative sources of energy. No absolutely so every Nigerian should be able to access clean affordable and reliable energy just like every other African like everybody else all around the world and we can't today we have about 700 million people around the world that don't have access to that kind that kind of energy and so uh the good news is that renewable energy uh is actually cheaper than fossil fuel energy in most places in the world and what we have to do is put a policy environment in place which means that the investment flows into greener energy rather than into uh into polluting energy and the secretary general of the united nations called today for an end to fossil fuel subsidies that are harmful you can take those subsidies and apply them to people so that people have cash in their hands so that they can buy the clean affordable energy that they want including alternatives to kerosene for cooking um and so these are we call it a transition because you can't just stop one way of creating energy one day and start another the next day this is a transition weaning ourselves off uh fossil fuels weaning ourselves off the emissions that come from fossil fuels and exploiting the the wind the solar the geothermal the hydropower and then putting carbon capture on any remaining gas infrastructure this is the way that Africa can can grow and all of the evidence is that it could grow very green and very fast and very cheaply but it's going to take political leaders to grasp that opportunity and demand that investment flow into into the continent in order to pack them up well uh Rachel Kite is the dean of Fletcher School at Tufts University in Boston thank you so much for speaking with us we appreciate it thank you hello hope you enjoyed the news please do subscribe to our youtube channel and don't forget to hit the notification button so you get notified about fresh news updates


It means to me that I get to be the person that every student, every staff member can come to if they want to see a change or if they even have an idea of what we could do for the future. I feel like there's a large group of our community in Jamesville and Boyd area that just doesn't really know what we all have to offer. So for me, my biggest goal with this is getting out into the community, making the community come here and see what we have and just understand that this is like a little gold mine and we have it and it's not been tapped yet. To me, that's really what the ambassador is, is showing everyone the gold mine we have here.


Russia may transfer fighter jets and air defense equipment to Iran. Russia is considering providing Iran with modern fighter jets and air defense equipment to protect it from Israeli and U.S. attacks. Military cooperation between Moscow and Tehran has reached a new level, reports The Washington Post. According to the data, Iran has opened a new dangerous chapter in its relations with Russia by agreeing to supply thousands of combat drones and missiles in 2022 to help Moscow in its war against Ukraine. The expanded ties helped cement deals between Moscow and Tehran, including Russia's promise to provide its ally with modern fighter jets and air defense technology that could help Tehran bolster its defenses against any future Israeli or U.S. airstrike. It is unclear how many systems have been delivered and deployed, but the Russian technology could turn Iran into a much more formidable adversary with enhanced capabilities to shoot down aircraft and missiles, officials and experts say. The arms deals, some of the details of which have not been previously disclosed, are part of a broader cooperation that includes joint production of military drones in Russia, sharing of jamming technology and real-time assessments of weapons deployed against NATO and in Ukraine, intelligence officials and arms experts said. According to them, this cooperation brings significant benefits to both countries, while elevating Iran's status from a junior ally to a strategic partner. Intelligence officials said that Russia is pushing forward with secretly concluded deals to supply Iran with Su-35, one of Russia's most powerful fighter bombers. On the defense side, Iran has long been asking Russia for the latest anti-aircraft missile batteries to protect its nuclear and military facilities from a possible U.S. or Israeli attack. In 2007, Tehran signed a deal to buy the Russian S-300 anti-aircraft system, but Moscow postponed the delivery of the weapon due to pressure from the United States and European States. The voluntary ban ended in 2016 and Iranian S-300s became operational in 2019. Since then, Iran has sought to acquire the more powerful Russian S-400 system, although it is not publicly known whether Moscow has taken steps to supply S-400 batteries. Some S-400 variants are equipped with radars capable of countering stealth technologies used by modern military aircraft. According to intelligence officials, Moscow also benefits from this cooperation. In addition to the thousands of drones purchased from Iran late last year, Russia agreed to buy about $2 billion worth of additional military goods, including anti-drone defense systems which have become a top priority for Russian generals in Ukraine. Iranian media has released footage of drones and missiles being launched during an unprecedented attack on Israel on Sunday. Iran carried out largest drone attack on Israel in its military history, firing hundreds of drones and missiles against Israel in a retaliatory attack that came as a response to an Israeli raid on the Iranian consulate building in Syria two weeks ago. Shells also flew from pro-Iranian forces bases in Lebanon, Iraq and Syria. The Israeli military claimed the strikes caused only minor damage to Israeli territory. The missiles and drones were intercepted by the US and UK. Iran's Islamic Revolutionary Guard Corps, IRGC, confirmed the attack, saying that it had achieved its objectives. The Israeli Defense Forces said 99% of the Iranian salvo consisting of over 300 killer drones, ballistic missiles and cruise missiles were intercepted and pledged to retaliate for the attack. Iran's attack on Sunday was condemned by Western countries and raised concerns over major escalation in the region.


That is a very good question actually. We know to popularize the Postal Financial Services market and in tandem with what it is growing world over, it was very important for us to have the inputs and the market conditions and requirements of the member countries as all the member countries of UPU are not member of Postal Payment Services Agreement. So to have their requirements on board, to promote them to become members of the Postal Payment Services Agreement, then join the Postal Payment Services User Groups, it's a post transfer brand and all and to provide them different kind of solutions beyond the Postal Payment because there is a lot of challenge of FinTech companies. So the UPU has to offer that kind of a solution to meet their requirements. So we have to bring on all those members with their inputs to us and frame them in proposals and put the solutions which look for the future of their financial services needs. So this was our biggest challenge and task to bring on them with us. We were actually to be honest looking for some more outputs in terms of the resolution proposals for future work that was if I conclude from the point of view that from budgetary support, it was not approved. Otherwise both the general nature proposals for amending the Postal Payment Services Agreement so that it can become really a universal nature of agreement and the DOs and the countries who are dealing with Postal Financial Services need not sign so much of bilateral agreements. They can have a standard universally applicable remuneration system, the trademark and also they can fulfill the universal requirements of anti-money laundering and countering the terrorist activities. So those funding to be curtailed and in compliance with the provisions for interoperability. So all these proposals have been approved. Second proposal approved is to set up a knowledge center in UPU that is going to definitely be contributing towards helping to developing countries especially financial services are more popular there. So for their purpose to share best practices, knowledge sharing, do the data analysis, collect information though we have to enter into partnerships now in absence of the budgetary provisions. So that funding the UPU and the member countries to work on whether we have from the World Bank or IMF or other UN bodies as well as the NGOs working in the financial inclusion and also member countries. So with that funding we can have this kind of knowledge center working and in second part we also approved a number of amendments to the postal payment services agreement. So that is I think I am almost 80 to 90% satisfied with the outcomes. If we have one agreement as I said which can be agile, flexible and scalable across the different continents and requirements of different countries we are going to have that for the transitional phase for next two years and during this period in accordance with the resolution we are adopted on the future of legal system that will enable us to go further deep to revise the postal payment services so that we can also include wider sector players which are at present also contributing a lot but the DOs how to go to them on one to one on bilateral basis. So having them interconnected with the UPU system will ensure a universal kind of a system where they are at par with the other DOs almost. So and having a expertise center pool of experts everybody who don't know what are new fintechs and what compliances we have to make and all. So now this kind of a setup which is advisory center can help them along and the countries who are leading in this area can also help them. So I think futuristically I think if we discard last three years or four years where we have the geopolitical challenges and some corridors not working in future by expanding and diversifying and innovating the financial services with the help of the approved proposals yesterday I see a bright future for postal financial services.


It's a peaceful Sunday outside Sigma Kappa. The streets are especially busy at the start of the school year. Undergraduates from all walks of life rushing to houses like this. Inside, conversation is brewing. For many students who rush to these doors during recruitment, it's about finding community. Others find that these doors may not be open for everyone. Studying senior Jacqueline Bueno is starting a conversation about diversity and inclusion. The former VP of community development at SK spoke at the West Coast Conference for the Association of Fraternal Leadership and Values. It hosts over 40 institutions and five Greek councils. It was just about enabling change for leaders in the community to really go to these workshops and have the tools to address topics such as racism, to sexual assault. And my role specifically at the conference was I gave a one-hour presentation on what equity should look like in Greek life. She says audience members expressed similar efforts on their local campuses. So how can Greek life at Cal be more equitable? If we're choosing not to talk about it and not to take a stance on the fact that these issues are problematic, then we're reinforcing these notions of racism, sexism, homophobia. For Bueno, workshops and dialogue are only the beginning. As a sociology major, she also hopes to use data for some perspective. Just having discussions once you have that data as well and seeing how, as members, we can really take a strong stance against the issues we face and go from there. At a larger level, some opposition towards the Greek system calls for its total closure. Her message to them? I definitely want to say that I think that the anger and frustration they have is valid. I think that historically our communities have not been the most productive or successful in addressing these issues. But I also think that if we want to change things and have them be better, we also have to be part of the solution. Reporting for Cal TV News, I'm Thomas Manglania.