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Yemeni Officials Confirm US and British Strikes Against Houthis

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Yemeni Officials Confirm US and British Strikes Against Houthis

(VORNews) – In response to the movement’s attacks on ships in the Red Sea, Britain and the United States launched strikes on Houthi military targets in Yemen.

A dramatic regional expansion of the Israel-Hamas conflict resulted from the strikes.

Witnesses in Yemen confirmed explosions throughout the country to Reuters late on Thursday, prompting President Joe Biden to caution that he would not hesitate to take further action if necessary.

“This targeted strike sends a clear message that the United States and our partners will not tolerate attacks on our personnel or allow hostile actors to impede freedom of navigation,” Biden said.

The British Ministry of Defence stated in a statement that “early indications are that the Houthis’ ability to threaten merchant shipping has been dealt a blow.”

Iran, which backs the Houthis, has vehemently condemned the assault. A Houthi representative stated that there was no justification for the strikes and that the organization would continue to target ships moving towards Israel.

Russia said that it has sought an immediate meeting of the United Nations Security Council to address the military attacks. The Houthis claim their strikes on Red Sea commercial lines are in favor of the Palestinians and Hamas, the Islamist party that administers Gaza.

U.S. Defense Secretary Lloyd Austin, who is in the hospital due to surgical problems, said in a statement that the attacks targeted Houthi assets like drones, ballistic and cruise missiles, coastal radar, and air surveillance.

A Houthi spokesperson acknowledged “raids” in the capital Sanaa, the cities of Saada and Dhamar, and the Hodeidah governorate, labeling them “American-Zionist-British aggression.”

Witnesses told Reuters that the strikes targeted a military camp near Sanaa airport, a military site near Taiz airport, a Houthi naval station in Hodeidah, and military locations in Hajjah province.

Yemen Houthis Fears of Escalation

Yemeni Officials Confirm US and British Strikes Against Houthis

The United States stated that Australia, Bahrain, Canada, and the Netherlands backed the operation and that the strikes were part of an international effort to restore free trade on a critical route between Europe and Asia that contributes to roughly 15% of global maritime traffic.

However, the attacks, the first on Yemeni soil since 2016, were irrefutable evidence of Washington’s attempt to limit the impact of the Israel-Hamas conflict in the Middle East since it erupted in October. Although Washington said there was no purpose to increase tensions, the Houthis have pledged to strike against any attack.

“The concern is that this could escalate,” said Andreas Krieg of King’s College in London, warning of the possibility that Saudi Arabia and the United Arab Emirates will be sucked into the conflict. Saudi Arabia issued a statement calling for moderation and “avoiding escalation” following the attacks.

The US also accused Iran of playing an operational role in the Houthi strikes in the Red Sea, supplying military assets and information to carry them out. “We believe that they have certainly been involved in every phase of this,” a senior US official told reporters. Aircraft, ships, and submarines carried out the strikes.

A separate US official stated that more than a dozen targets were attacked and that the attacks were designed to undermine the Houthis’ military capabilities rather than be just symbolic. “We were going after very specific capability in very specific locations with precision munitions,” a US military officer explained.

The Houthis, who control the majority of Yemen, disregarded UN and other international appeals to cease their missile and drone strikes on Red Sea commercial lanes, as well as warnings from the US about the repercussions if they did not do so.

The Houthi strikes have affected international business, forcing ships to take the lengthy way around South Africa to avoid being hit. The rise in delivery costs is fueling worries that it may spark a new round of global inflation.

Following Hamas’ attack on Israel on October 7, in which 1,200 people were murdered and 240 were kidnapped, Israel launched a military offensive in Gaza, killing over 23,000 Palestinians.

MISSILES THAT ARE ANTI-SHIP BALLISTIC

Yemeni Officials Confirm US and British Strikes Against Houthis

The United States military said that the Houthis launched an anti-ship ballistic missile into international maritime channels in the Gulf of Aden only hours before the United States and Britain launched their operations in Yemen. This came two days after the Houthis launched their biggest offensive yet.

U.S. and British naval forces intercepted and destroyed 21 Houthi missiles and drones on January 9. The United States military used terminology similar to that used when describing attacks in Afghanistan and Iraq by the Taliban or Islamic State; it was a complicated strike.

Biden claimed in his address that American ships were the intended targets of the Jan. 9 attack by the Houthis. Some Democrats under Biden voiced worry that the United States may become involved in another conflict lasting decades, while prominent Republicans in Congress praised the decision.

Restoring deterrence in the Red Sea was the goal of this strike, which was delayed by two months,” stated U.S. Senator Roger Wicker, the leading Republican on the Senate Armed Services Committee.

U.S. officials believed that by taking these and other diplomatic and military measures, they might stop the Houthi attacks without igniting a new conflict. More than twenty nations joined a defense coalition led by the United States in December to protect commercial traffic in the Red Sea, an operation dubbed Operation Prosperity Guardian.

U.S. and British strikes, however, are happening independently of that alliance. “The response of the international community to these reckless attacks has been united and resolute,” stated Biden.

(Phil Stewart and Idrees Ali of the Washington Bureau contributed to the story; Andrew Mills of Doha and Maher Hatem of Dubai also contributed; Jeff Mason, Kanishka Singh, and Eric Beech of the Washington Bureau; Don Durfee, Cynthia Osterman, and Raju Gopalakrishnan of the editing bureau)

Yemeni Officials Confirm US and British Strikes Against Houthis

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Navalny: Body Returned To Mother, Spokeswoman Says

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The body of leading Russian opposition politician Alexei Navalny has been returned to his mother, according to his spokesman.

In a post on X, Kira Yarmysh thanked everyone who asked that the authorities hand over his remains.
“The funeral is yet to take place,” she wrote.

navalny

Navalny: Body Returned To Mother, Spokeswoman Says

Navalny’s mother, Lyudmila, was reportedly told to agree to a “secret” funeral. If she refused, he would be buried in the penal colony where he had died.

She had spent the previous week in the town near the prison where he died, attempting to ascertain the whereabouts of his remains before requesting that they be delivered to her.

After signing a death certificate stating that he died of natural causes, she was allowed three hours to settle on a “secret” burial for her son.

Ms Yarmysh claims his mother was warned that if she did not consent, he would be buried on the grounds of the prison where he had died.

However, Lyudmila appears to have declined to engage with the authorities.

Ms Yarmysh stated that the funeral plans were still unclear.

“We don’t know whether the authorities will interfere with it being carried out in the way the family wants and as Alexei deserves,” she said.

Earlier on Saturday, Yulia Navalnaya, Navalny’s widow, accused Vladimir Putin of holding her late husband’s body “hostage” and demanded its unconditional release.

navalny

Navalny: Body Returned To Mother, Spokeswoman Says

“Give us the body of my husband,” she pleaded in a video message.

“You tortured him living, and now you continue to punish him in death. “You mock the remains of the deceased.”

Ms Navalnaya again accused the Russian president of being responsible for her husband’s death.
The Kremlin has dismissed the charges, calling the Western outrage to the killing “hysterical”.

Navalny died on February 16 in a Russian prison located inside the Arctic Circle.
Details concerning what happened to him are scant. His team has offered security officers €20,000 ($22,000; £17,000) as a prize and aid in fleeing Russia in exchange for information concerning his death in custody.

navalny

Navalny: Body Returned To Mother, Spokeswoman Says

For years, he was the most prominent critic of Russia’s leader.

In August 2020, a team of would-be assassins from the Russian secret services poisoned Navalny with the Novichok nerve agent.

He was airlifted to Germany and recovered before being imprisoned upon his return to Russia in January 2021.

Attempts to commemorate his death have been greeted with a heavy-handed response from Russian authorities, with improvised monuments removed and hundreds jailed.

SOURCE – (BBC)

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In His Annual Letter, Warren Buffett Tells Investors To Ignore Wall Street Pundits

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OMAHA, Nebraska – Warren Buffett credited his longtime partner, the late Charlie Munger, with creating the Berkshire Hathaway conglomerate he is credited with leading, and warned shareholders in his annual letter on Saturday not to listen to Wall Street pundits or financial advisors who advise them to trade frequently.

Buffett said he always writes his letters with knowledgeable, long-term investors in mind, such as his sister Bertie, and attempts to give them what he believes they want to know about Berkshire.

“She is sensible – very sensible – instinctively knowing that pundits should always be ignored,” Buffett wrote about Bertie. “After all, if she could accurately forecast tomorrow’s winners, would she openly share her unique insights, increasing competitive buying? That would be like discovering gold and then throwing out a map to the neighbours indicating its whereabouts.”

Buffett told investors that Berkshire is a safe place to park their money as long as they don’t expect “eye-popping performance” like in the past because there are no attractively priced acquisition targets large enough to make a meaningful difference in the Omaha, Nebraska-based company’s results. However, he stated that Berkshire would be ready to invest $167.6 billion when the casino-like stock market seizes.

Munger, Buffett’s longtime investing partner, died in November at the age of 99, removing one of the key sounding boards Buffett relied on for decades as Berkshire acquired companies such as See’s Candy, Geico Insurance, BNSF Railway and others to reshape the failing textile mill they took over in the 1960s into the massive eclectic conglomerate Berkshire is today.

buffett

In His Annual Letter, Warren Buffett Tells Investors To Ignore Wall Street Pundits

Buffett devoted a portion of last year’s annual letter to Berkshire shareholders to an homage to Munger, but this year’s edition began with even more appreciation for the revered curmudgeon’s services to the company over the years. Buffett stated that “Charlie was the ‘architect’ of the present Berkshire”, who recognised early on that buying excellent enterprises at reasonable rates was preferable.

“Charlie never sought to take credit for his role as creator but instead let me take the bows and receive the accolades,” Buffett said in a statement. “In some ways, his connection with me was like that of an elder brother and a caring father. Even when he knew he was correct, he handed me the reins, and when I made a mistake, he never reminded me of it.”

buffett

In His Annual Letter, Warren Buffett Tells Investors To Ignore Wall Street Pundits

Buffett also discussed how Berkshire’s insurance businesses, such as Geico, excelled last year, but its enormous utilities and BNSF railway underperformed. He also informed shareholders that he has no plans to sell its shares in approximately 30% of Occidental Petroleum and 9% of five significant Japanese trading companies but that he has yet to buy the oil company completely.

Berkshire’s diverse portfolio of operations and the good performance of its investments generated a profit of $37.57 billion, or $26,043 per Class A share, in the fourth quarter. This is more than double Berkshire’s $18.08 billion profit, or $12,355 per Class A share, posted a year ago.

However, Buffett emphasised that investors should mainly overlook such bottom-line figures since the paper worth of its stocks heavily influences them. Instead, he has always encouraged investors to focus on Berkshire’s operating earnings, which exclude investments.

By that metric, Berkshire reported a 28% increase in operating earnings to $8.48 billion, or $5,878.21 per Class A share. This is up from $6.63 billion, or $4,527.06 per Class A share.

buffett

In His Annual Letter, Warren Buffett Tells Investors To Ignore Wall Street Pundits

FactSet Research questioned three analysts, and they expected that Berkshire would report quarterly operating earnings of $5,717,17 per Class A share.

Berkshire’s stock has established several new peaks in recent weeks, reaching $632,820 per Class A share Friday morning as investors eagerly awaited Buffett’s letter. Buffett is admired for his extremely successful track record and the wise advice he has given over the years. His yearly letter is consistently one of the most-read papers in the corporate sector.

Berkshire also repurchased $2.2 billion of its stock in the fourth quarter, bringing the total to $9.2 billion for the year.

SOURCE – (AP)

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Reddit Hasn’t Turned A Profit In Nearly 20 Years, But It Just Filed To Go Public Anyway

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Reddit, the discussion board site noted for its constantly online user base and for sparking much internet debate, filed for its long-awaited initial public offering on Thursday.

This would make Reddit the first social media business to go public since Snapchat in 2017. The offering will include a twist that may allow some of the most ardent of its more than 70 million daily users to purchase shares in the IPO — something generally reserved for institutional investors.

reddit

Reddit Hasn’t Turned A Profit In Nearly 20 Years, But It Just Filed To Go Public Anyway

The company  claimed that top users can buy shares based on their “karma,” a term the network uses to describe its users’ contributions and reputation on the website.

“Our users feel a strong feeling of ownership over the communities they form on Reddit. We want this sense of ownership to translate into real ownership — for our users to be our owners’, co-founder and CEO Steve Huffman wrote in a Thursday filing letter. “Becoming a public company makes this possible.”

The company’s registration comes amid a dip in the overall IPO market, with Wall Street hoping that a blockbuster offering will help revitalise dealmaking.

According to a Securities and Exchange Commission filing, the San Francisco-based company plans to list on the New York Stock Exchange under the “RDDT.” The filing comes nearly three years after Reddit recruited its first CFO, and officials, including co-founder and CEO Steve Huffman, began publicly discussing the potential of an IPO to raise the company’s visibility.

Reddit, which has not been profitable, plans to expand its revenue through advertising, offering more e-commerce options, and licensing its data to other companies to train their artificial intelligence models.

“Our work to make Reddit faster, easier to use, easier to moderate and govern, and simpler to navigate and find relevant communities is driving growth today and will continue to be our focus into the future,” Ms. Huffman said.

The company was sold to media giant Condé Nast in 2006 by its co-founders Alexis Ohanian, who left the company in 2020, and Huffman, who now owns 3.3%. According to the IPO filing, the company’s top shareholders are currently Advance Publications (30.1%), which owns Condé Nast, Tencent (11%) from China, and OpenAI CEO Sam Altman (8.7%).

History of the ‘Front Page of the Internet’
The company, dubbed the “front page of the internet,” is a social media veteran; the firm was founded in 2005, the year college buddies Huffman and Ohanian graduated from the University of Virginia. It was the same year that Facebook became Facebook, YouTube released its first video, and Twitter (now known as X) launched.

Reddit’s 18-year history as an online social hub has witnessed tremendous growth, occasional controversy, and sometimes market-shifting pranks.

The network is well-known for its “subreddits,” which are distinct, user-generated discussion boards where users establish communities around various topics ranging from sports to politics to religion and everything in between. the company  users frequently post anonymously in these areas, debating topics ranging from memes to big news events.

reddit

Reddit Hasn’t Turned A Profit In Nearly 20 Years, But It Just Filed To Go Public Anyway

In 2021, Reddit created widespread market disruption when a community of day traders on the WallStreetBets platform began buying up GameStop shares in an attempt to harm hedge funds that bet against it. Many Redditors who joined the craze late suffered big losses.

Still, the episode highlighted the power of the company communities. Following the WallStreetBets incident, Reddit announced a fresh $250 million investment round, valuing the firm at $6 billion. It also declared plans to grow its workforce and enter overseas markets.

A significant user outcry earlier this year over a proposal to charge some third-party apps millions of dollars in fees to continue using the network brought the company back into the public eye. As a result, hundreds of the platform’s most popular subreddits were offline for weeks. The protest ended after Reddit threatened to expel forum moderators if the blackout continued.

Thursday’s filing provides the most extensive look yet at Reddit’s business, which aims to expand beyond the traditional ad-supported model on which other social networks still rely heavily.

The company  says it had more than 73 million daily active users in the latter three months of 2023, up from 52 million in 2021. In its filing, the company stated that the platform would have over 100,000 active communities by December 2023.

The company’s revenues in 2023 were $804 million, up 21% from $666.7 million in 2022. Reddit recorded a net loss of $90.8 million in 2023, less than the $158.6 million loss it experienced in 2022.

reddit

Reddit Hasn’t Turned A Profit In Nearly 20 Years, But It Just Filed To Go Public Anyway

While the company estimates its total addressable market in advertising to reach $1.4 trillion by 2027, it also stated in the filing’s risk factors statement that it has “a history of net losses and we may not be able to achieve or maintain profitability in the future.”

The company  also announced intentions to increase revenue by selling data to AI startups and focusing on the “user economy.” The filing outlines a future goal to enhance e-commerce on the site and increase user incomes through the Reddit Contributor Programme and Reddit Collectible Avatars Creators Programme. According to the filing, these systems allow users to earn monetary gifts and prizes, from which the corporation may receive a share.

On Thursday, the company also announced an expanded cooperation with Google, which includes access to Reddit data to train Google’s AI models and improve the display of Reddit content across Google platforms.

SOURCE – (CNN)

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