Category: Focus

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Who is the ‘Abdul’ Trump mentioned from the Taliban?

Former President Trump during Tuesday night’s debate recounted a threat he made to “Abdul … the head of the Taliban” as he and Vice President Harris engaged about the Biden administration’s handling of the deadly withdrawal from Afghanistan in 2021.

Trump’s story came from when he was president, and he said the threat came because of the deaths of U.S. soldiers.

“I got involved. And Abdul is the head of the Taliban. He is still the head of the Taliban,” Trump said. “And I told Abdul, ‘Don’t do it anymore. You do it anymore, you’re going to have problems.’ And he said, ‘Why do you send me a picture of my house?’ I said, ‘You’re going to have to figure that out, Abdul.’ And for 18 months we had nobody killed.”

It’s not clear who Trump was referring to.

Hibatullah Akhundzada is the Taliban’s leader, having been in charge since 2016.

Trump has talked about an “Abdul” before in discussing the Taliban. Trump in the past has said that then-Secretary of State Mike Pompeo negotiated with “Abdul,” which could be a reference to top Taliban policy leader Abdul Ghani Baradar.

Baradar met with Pompeo in Qatar in 2020 and was among the group’s negotiators with the Trump administration over the withdrawal of U.S. troops from Afghanistan.

Trump previously discussed his “rough call” with “the leader of the Taliban, Abdul,” during an interview with Fox News personality Sean Hannity in 2022.

“I said, ‘Don’t do it,’” Trump told Hannity. “It was strong. And he understood it.”

After Hannity hinted at Trump’s threat of repercussions on the call, the former president replied: “We had a strong phone call. Let’s put it that way.”

Rep. Wesley Hunt (R-Texas) also told a similar version of the story this summer during an appearance on former ESPN host Sage Steele’s podcast.

“President Trump looked at the Taliban leader and said this ‘If you harm a hair on a single American, I’m going to kill you,’” Hunt said, noting the use of a satellite photo of the “leader of the Taliban’s home” in the threat.

Video of Hunt’s recounting of his “favorite” Trump story went viral, and Fox News host Greg Gutfeld, who is in direct contact with the former president and whose show Trump watches, named the video as the “Gutfeld!” video of the day July 3.

“Whatever you think about Trump, he knew how to motivate people, right?” Gutfeld said after airing the video of Hunt’s retelling.

Gutfeld, comedian Joe Machi, Fox News contributor George “Tyrus” Murdoch and others on the show went on to regale the story of Trump’s “jaw-dropping” show of “masculinity.”

The Trump administration did not include the alleged threat to the Taliban leader in its official communications about the deal the then-president struck in 2020 to bring troops out of Afghanistan. Taliban spokesperson Zabihullah Mujahid hasn’t responded to Trump’s story on his official X social media feed.

The Associated Press has reported there was no year-and-a-half stretch during Trump’s presidency without combat deaths among U.S. service members.

There was an 18-month span in the final months of Trump’s term that stretched into the Biden administration before the Afghanistan withdrawal where no U.S. soldiers were killed.

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Hedge funds flock to Japan as market heats up

HONG KONG (Reuters) – Amidst a generally subdued $400 billion hedge fund sector in Asia, Japan has distinguished itself by attracting new fund launches while other regions experience closures. This trend indicates that the significant market volatility in August has not hindered the revival of Japanese capital markets.

Since 2023, hedge fund closures have outnumbered new launches across Asia, primarily due to the struggling Chinese stock market.

Contrastingly, Japan-focused funds have seen a net increase of over 10 during the same period, according to data from Preqin. Additionally, at least five more Japan-focused funds are either launching or preparing to debut in the third and fourth quarters of the year. These funds encompass a range of strategies, from equity long-short to quantitative approaches, as reported by fund managers or individuals familiar with their plans.

Both domestic and international launches are gaining traction and are being well received by investors.
They highlight a renewed confidence in Japan, long neglected by hedge funds and a wide range of other investors, recently shaken by the biggest single-day stock market drop since 1987. This suggests that Japan’s financial markets are revitalizing after decades on the sidelines for many major investors.

“Japan is finally changing in a positive way, with inflation and wage growth,” said Soichi Utsumi, founder of Shinka Capital Management, which is launching a Japan equity long-short fund.

“I’ve never seen such significant trends in my entire professional career,” added Utsumi, who was previously a partner at hedge fund Asia Research & Capital Management Limited.

In July, Japanese equity markets reached all-time highs, driven by a surge in foreign interest and a push for corporate governance reforms. Interest rates have entered positive territory and are rising for the first time in recent memory, coinciding with economic growth.
Utsumi stated that his fund will concentrate on governance changes and opportunities arising from increasing interest rates, and advisors report that these themes are gaining traction with investors.

“We’ve observed a growing interest in Japan-focused managers,” said Jon Caplis, CEO of hedge fund research firm PivotalPath.

JAPANESE MARKET TURBULENCE

The resurgence of Japanese markets was abruptly halted in early August when a rate hike by the Bank of Japan, coupled with weakening U.S. economic data, led to a sudden appreciation of the yen and a subsequent stock market decline.

Despite these fluctuations, hedge funds remain undeterred by the Japanese market’s volatility.

Hong Kong’s $700 million ActusRayPartners is preparing to launch a new Japan strategy later this month, aiming to raise $100 million by year-end.

The quant fund viewed the market selloff positively, interpreting it as a reversal of a crowded short position on the yen.

Additional encouragement comes from the fact that interest rates have been raised twice this year.
As interest rates are projected to rise further, “this inevitably introduces some market volatility, making it difficult for ‘zombie companies’ to survive, which benefits the long-short strategy,” remarked Tetsuo Ochi, CIO at MCP Group. MCP Group is a $2.5 billion alternative investment firm that predominantly assists Japanese institutions in making global investments.

In August, MCP Group launched a rare Japan-focused fund of hedge funds, attracting a 10 billion yen ($70 million) investment from Japanese insurer Dai-ichi Life, according to MCP.

Dai-ichi Life’s investment is intended to support emerging managers and contribute to revitalizing Japan as an asset management hub, the insurer noted in a separate statement.

Additionally, two other new Japan-focused funds have been introduced: the multi-manager platform Penglai Peak Offshore Fund and OQ Funds Management’s new Japan strategy. Bloomberg previously reported on the latter, citing the fund’s manager. Lighthouse Investment Partners, the owner of Penglai Peak, did not respond to requests for comment.
A recent Preqin survey conducted in August revealed that an increasing number of global investors intend to decrease hedge fund allocations in their portfolios, citing returns that have fallen behind certain benchmarks.

In contrast, Japan’s long-short equity funds have shown a strong performance, achieving positive returns in 70% of quarters over the past five years up to the second quarter of 2024, as reported by With Intelligence.

($1 = 143.6000 yen)

(Reporting by Summer Zhen; Editing by Tom Westbrook and Shri Navaratnam)

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Morgan Stanley cuts oil forecast again as concerns deepen

Morgan Stanley has again revised its Brent crude price forecasts downward, citing mounting demand challenges and abundant supply. According to a note from analysts led by Martijn Rats, the global benchmark is now expected to average $75 a barrel in the fourth quarter. This is a decrease from an earlier projection of $80 for the same period, which had already been reduced from a prior forecast of $85 just last month. Forecasts for most of the coming year have also been slightly adjusted downward.

Recently, Brent crude prices have plummeted to their lowest levels since late 2021. This decline is attributed to persistent concerns over weakening demand from China and indications of a potential slowdown in the US economy. Concurrently, ample output has led OPEC+ to postpone plans to ease its production curbs.
“The recent trajectory of oil prices bears similarities to previous periods marked by significant demand weakness,” Rats and his colleagues noted in their report dated Sept. 9. They observed that time spreads—price comparisons along the futures curve—suggested the potential for “recession-like inventory builds.” However, they emphasized that it was too early to adopt this scenario as the bank’s base case.

Morgan Stanley’s reassessment of the oil market outlook has been echoed by other leading financial institutions. Last month, Goldman Sachs Group Inc. downgraded its forecast, and more recently, Citigroup Inc. indicated that the market appeared oversupplied, predicting that prices could average $60 a barrel in 2025 unless OPEC+ implements deeper production cuts.

Brent crude, which plummeted almost 10% last week, traded near $72 a barrel on Monday. Major commodity trader Trafigura Group, speaking at an industry conference in Singapore, forecasted that prices are likely to decline into the $60s in the near future.

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From paragliding, kayaking to scuba diving: 5 top adrenaline-surging adventure sports and where to try them in India

The mundane humdrum of life is all about the steadfast flow of ceaseless familiarity and monotony. Buried beneath the cycle of the regular, daily routine, is the enthused urge to feel the thunder in the rib cage and break away from all the slow pace of life. While travel is a moment of unwinding for others, for some it’s time to live and get high on adrenaline. For those yearning to escape the confines of boredom and embrace the thrill of the unknown, try these adventure sports:

Paragliding


It’s an extreme aerial adventure sport where you soar through the sky and enjoy the sprawling vistas and skylines, where everything from above looks like a part of a miniature world. The adrenaline rush is addictive when you witness the beautiful views. Bir Billing, located in Himachal Pradesh is one of the best places to try paragliding in India. Here, the lush greenery of the forest at the foothills of the Himalayas offers otherworldly views, as the cerulean sky meets the verdant sea beneath and converges to enthrall you. Paragliding at Bir Billing will become one of your most cherished core memories for a long time.
Bungee Jumping

Bungee Jumping


Take the trust fall to the extreme level and go Bungee Jumping. With only a cord securing you, the freefall is refreshing and adrenaline-fueled. Be in sync with gravity and scream your worries and anxieties as you plunge. Located near Mohan Chatti Village in Rishikesh, you’ll find India’s highest bungee jumping spot at a thrilling 83 m.

xplore the underwater world and glide alongside marine creatures. Be prepared to be awed by the coral structures and all the wonders of underwater life. It truly feels surreal, almost like being on another planet. With scuba gear, you’ll be able to comfortably breathe and observe the marine life up close. Andaman and Nicobar Islands’ Havelock Island is perfect for adventure-seekers, offering a wide range of marine species and vibrant coral formations.

Sky Diving

Sky diving has a maddening thrill of freefall from 10,00 feet in the air, and falling straight towards Earth, a moment of true adrenaline. Your body feels light and your stomach tumbles as you pierce through the winds. There’s something extremely lion-hearted about this adventure sport. Aamby Valley in Maharashtra is one of the best locations for skydiving. The bird’s eye view of Lonavala is simply mesmerising.

Kayaking


A water-based adventure sport, Kayaking is fun and involves a small, narrow and enclosed boat with a double-bladder paddle. It’s a relatively relaxing sport as you decide the intensity by choosing the water current you want to ride on. Rishikesh Ganges is ideal for Kayaking, both for beginners and pros. Ganges has gentle streams as well as thundered currents. River Kayaking is an unmissable activity in Rishikesh.

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“Black Monkey King” fire, each version of the Monkey King to compete, Stephen Chow miserably surpassed

More than just an everyday pastime, games can become a cultural masterpiece, affecting the emotions and memories of a generation. For example, the recent “Black Monkey” game not only leads the integration of technology and entertainment, but also embedded a profound cultural reinterpretation, so that we have a new image of the traditional “Monkey King”.

First of all, the Monkey King in the game is no longer the traditional image we are familiar with, but a rich multi-dimensional modern hero. The detail of the picture is one thing, but what is more attractive is the endless character description and story direction. He is no longer just a pronoun of fierce and funny, and his more diverse and complex temperament makes him closer to the hero of modern understanding.

Technological upgrades are a plus. With the most cutting-edge graphics rendering, physics engine power, combat and visual impact will undoubtedly push the player experience to a new level. A dramatic swing of the magic wand in your imagination, delivered to your every nerve through real physical feedback.

In addition to technical aspects, interpersonal communication is also a success factor. For example, through multi-person collaborative tasks to enhance the tacit understanding between teams, sharing hardships and fighting together gives a sense of participation and achievement. The social nature of the game is cleverly amplified, reinforcing the sense of community among the player community.

We may wish to compare, for example, Stephen Chow’s version of the Monkey King brings people the resonance of joy and sorrow, while Liu Xiao Ling’s version carries a kind of orthodox texture of the original, each has its own distinctive characteristics to move people’s hearts. Today’s “Black Monkey”, in a new mode to combine modern technology and traditional charm, to construct an unprecedented Oriental hero map, for modern players to spread a different scene.

The blessing of access to AI undoubtedly makes the creative team easy. From map design to character behavior, with the help of efficient intelligence, the development cycle is greatly shortened and the imagination is infinitely enlarged. What makes this game so different from ordinary games is that it pushes the boundaries of art with the boundaries of technology.

All in all, through the new interpretation of classic characters, combined with the most cutting-edge technology, “Black Monkey” shows us a new look of an ancient cultural symbol into the modern world. Let the player not only feel free in the game, but also feel satisfied and inspired at the emotional and intellectual level. This may be the real reason why the popularity of Black Goku continues unabated, and it is also the fundamental reason why it can become a temporary choice.

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China Travel:Spectacular Qiantang River tidal bore wows visitors

The Qiantang River tidal bore in Zhejiang Province has always amazed visitors with its awe-inspiring scenes. Known for the world’s largest tidal bore, the Qiantang River offers a variety of tidal types that can be observed from different vantage points. As the tides surge with a thunderous roar, they create a magnificent natural spectacle that draws countless visitors every year.

The best time to witness the Qiantang River tides is during the eighth month of the traditional Chinese calendar, with the most dramatic display typically occurring on the eighteenth day of the month, which falls on September 20 this year.

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Bugs, mold and mildew found in Boar’s Head plant linked to deadly listeria outbreak

U.S. Department of Agriculture inspectors turned up dozens of violations at a Boar’s Head plant in Virginia now linked to a nationwide recall of deli meats, according to new records released by the department, including mold, mildew and insects repeatedly found throughout the site.

Last month, Boar’s Head recalled all of the deli meats made at its plant in Jarratt, Virginia, after a listeria outbreak was blamed on products distributed from the site.

The outbreak has grown to 57 hospitalizations in 18 states linked to recalled products from the plant. At least nine deaths have now been reported, including two in South Carolina and one each in Illinois, New Jersey, Virginia, Florida, Tennessee, New Mexico and New York.

“This is the largest listeriosis outbreak since the 2011 outbreak linked to cantaloupe,” the Centers for Disease Control and Prevention said Wednesday.

Samples from unopened products distributed from the Boar’s Head plant were found by authorities in multiple states to be contaminated with the bacteria Listeria monocytogenes. Genetic sequencing linked the bacteria from the products to the strain driving the outbreak.

People are urged to double check their fridges for the recalled meats and to clean any surfaces that might have touched them.

“Consumers who were unaware of the recall may have eaten recalled products. People may also have a prolonged course of illness,” a spokesperson for South Carolina’s health department said in a statement following the new deaths.

Records released by the USDA’s Food Safety and Inspection Service to CBS News through a Freedom of Information Act request tally 69 records of “noncompliances” flagged by the agency over the past year at the Jarratt plant.

It’s unclear whether Boar’s Head will face any penalties by the USDA for the repeat issues. Reports published by the agency so far show no “enforcement actions” taken against the company in the past year. A USDA spokesperson did not immediately respond to a request for comment.

In a statement, a Boar’s Head spokesperson said the company deeply regrets the impact of the recall, and said that said food safety is their “absolute priority.”

“As a USDA-inspected food producer, the agency has inspectors in our Jarratt, Virginia plant every day and if at any time inspectors identify something that needs to be addressed, our team does so immediately, as was the case with each and every issue raised by USDA in this report,” company spokesperson Elizabeth Ward said.

All operations have been suspended at the Jarratt plant, Ward said, and the company is working to disinfect the plant and retrain employees. No product will be released from the plant “until it meets the highest quality and safety standards.”

“During this time, we have partnered with the industry’s leading global food safety experts to conduct a rigorous investigation to get to the bottom of the events leading to this recall,” said Ward.

Beyond issues like paperwork lapses and leftover meat on equipment, the records show inspectors faulted Boar’s Head several times for mold or mildew building up around the company’s facilities in Jarratt.

In July, federal inspectors found what looked to be mold and mildew around the hand washing sinks for the workers tasked with meats that are supposed to be ready to eat.

Mold was also found building up outside of steel vats used by the plant, previous records show, as well as in holding coolers between the site’s smokehouses.

“A black mold like substance was seen throughout the room at the wall/concrete junction. As well as some caulking around brick/metal,” they wrote in January, saying some spots were “as large as a quarter.”

Other locations were found to have a number of issues with leaking or pooling water, including a puddle found to have “a green algal growth” inside and condensation that was found to be “dripping over product being held.”

After inspectors flagged one of the leaks to the company, workers tried to mop up the leaks.

“The employee wiped a third time, and the leaks returned within 10 seconds,” inspectors wrote after one condensation issue was raised on July 27, near fans that looked to be blowing the liquid onto uncovered deli meats.

Beyond water, USDA faulted the company for leaks of other substances. In February, an inspector found “ample amounts of blood in puddles on the floor” and a “rancid smell” throughout a cooler used at the plant.

A number of records also flag sightings of insects in and around deli meats at the plant, including one instance that prompted the agency to tag more than 980 pounds of ham in a smokehouse hallway to be “retained” for an investigation.

In June, another record flagged concerns over flies going in and out of “vats of pickle” left by Boar’s Head in a room.

“Small flying gnat like insects were observed crawling on the walls and flying around the room. The rooms walls had heavy meat buildup,” they wrote.

Other parts of the facility were also found to have bugs, including what looked to be “ants traveling down the wall,” as well as a beetle and a cockroach.

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Nvidia’s forecast dampens AI enthusiasm in other tech stocks

If Nvidia’s late-day dip on Wednesday continues into Thursday, it would fall significantly short of the 11% price swing anticipated by the options market, as per data from options analytics firm ORATS.

The company’s recent performance, driven by surging demand for its AI chips, has consistently exceeded consensus analyst estimates for several quarters. This trend has led investors to expect increasingly higher margins by which Nvidia would surpass forecasts.

However, Nvidia’s subdued forecasts overshadowed its strong second-quarter revenue and adjusted earnings, as well as the announcement of a $50 billion share buyback.

“They beat expectations, but this was one of those instances where the bar was set incredibly high. I don’t think any number could have satisfied investors,” said JJ Kinahan, CEO of IG North America and president of online broker Tastytrade.
The tepid reaction to Nvidia’s earnings report may influence market sentiment as we approach a historically volatile period. According to CFRA data, the S&P 500 has declined an average of 0.8% in September since World War II, marking it as the worst-performing month.

Investors are also closely monitoring next week’s U.S. employment report for indications of whether the labor market weakness, which unsettled stocks in early August, has improved.

Optimism surrounding AI technology, partly driven by Nvidia’s significant growth, has been a key driver of gains on Wall Street over the past year.

However, confidence in this rally has faltered recently, following an earnings season where investors penalized tech companies whose results did not meet high expectations.
Investors are increasingly worried about the rising expenditures by Microsoft, Alphabet, and other key players vying for dominance in the burgeoning AI technology sector. The stocks of Microsoft and Alphabet have remained depressed since their reports last month.

Nvidia has projected revenue of $32.5 billion, with a margin of error of 2%, for its fiscal third quarter, surpassing analysts’ average estimate of $31.8 billion, as per LSEG data. This revenue forecast suggests an 80% increase compared to the same quarter last year.

The company, based in Santa Clara, California, anticipates an adjusted gross margin of 75%, with a possible variance of 50 basis points, for the third quarter. Analysts, on average, predict a gross margin of 75.5%, according to LSEG data.

Nvidia’s stock declined by 2.1% during Wednesday’s trading session, prior to the report. However, it remains up approximately 150% for 2024, positioning it as the leading performer in Wall Street’s AI sector surge.
Nvidia’s stock was trading at a price-to-earnings ratio of 36 ahead of its quarterly report, which is relatively low compared to its five-year average of 41. In contrast, the S&P 500 is trading at 21 times expected earnings, higher than its five-year average of 18.

(Reported by Noel Randewich in San Francisco; Additional reporting by Saqib Ahmed in New York; Edited by Ira Iosebashvili and Lisa Shumaker)

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