Stock Markets

Gaza ceasefire plan for hostage release awaits Hamas response

Published

11 months ago

January 31, 2024

Gaza ceasefire plan for hostage release awaits Hamas response

© Reuters. Dahlia Cooper hangs a picture of her father-in-law Amiram Cooper, who was kidnapped on the deadly October 7 attack by Palestinian Islamist group Hamas, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Tel Aviv, Israel,

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By Jonathan Landay, Maya Gebeily, Andrew Mills and Nidal al-Mughrabi

WASHINGTON/BEIRUT/DOHA (Reuters) – Hamas is studying a three-phase Gaza ceasefire plan that would secure the release of most Israeli hostages but does not yet commit Israel to end its war with the Palestinian militant group, according to sources with knowledge of the proposal.

The viability of the plan formulated by U.S., Israeli and Egyptian spy chiefs and Qatar’s prime minister hinges on whether or not Hamas, which rules the enclave, will agree to the first phase without agreeing to a permanent end to the war – thus far a core demand of the group.

“We don’t know and we cannot predict what Hamas’ response will be,” Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s prime minister, said on Monday.

Hamas told Reuters in a statement on Tuesday the proposal would involve three stages, including the release of hostages held by the group and Palestinian prisoners held in Israel. The statement corroborated some details of the framework provided to Reuters by two sources briefed on the proposal.

Men, children, the elderly and wounded would be released in the first stage, the statement said, and the plan had been sent to Gaza to obtain the opinion of Hamas leaders there. “After that, the Hamas leadership will meet to discuss the paper and express its final opinion on it,” the statement said.

More than 100 Israeli hostages are still held, following the release of a similar number in an earlier truce in November that involved the release of scores of Palestinian prisoners.

Versions of the phased ceasefire framework have been under discussion since late December, but Israel did not sign onto the concept until David Barnea, the Mossad chief, met his U.S. and Egyptian counterparts and Sheikh Mohammed in Paris on Sunday.

Egyptian sources said Qatar, Egypt and Jordan would guarantee that Hamas adheres to any agreement, while the U.S. and France would do the same on the Israeli side. Reuters was unable to establish what assurances the guarantors would be able to offer.

Israeli officials did not immediately respond to Reuters request for comment.

Hamas chief Ismail Haniyeh, who says the group is open to all ideas that will lead to an end to Israel’s Gaza offensive, announced on Tuesday he would visit Cairo to discuss the plan.

WOMEN, CHILDREN, THE ELDERLY

Its first phase would consist of a pause in fighting and the release of elderly, civilian women and children hostages, said a source briefed on the Paris talks and a second source with in-depth knowledge of the talks and their results. Major deliveries of food and medicine to Gaza, facing a ruinous humanitarian crisis, would resume, according to both sources.

The sources differed on how long the first stage ceasefire would last, but two of them said it would be set for at least a month.

The second phase would see the releases of female Israeli soldiers, and another increase in aid deliveries and restoration of utility services to Gaza, and the third phase would see the release of the bodies of deceased Israeli troops in exchange for Palestinian prisoners freed, the two sources said.

The Hamas statement said the second phase would also involve the release of male military recruits.

“Military operations on both sides will stop during the three stages,” it said. The number of Palestinian prisoners to be released is to be left to the negotiation process “at every stage, with the Israeli side preparing to release those with high sentences,” the Hamas statement said.

Both sources said that although Israel has not committed to a permanent ceasefire, the ultimate aim of this phased approach is a fourth phase in which the war would end and Hamas would release male IDF soldiers held captive in exchange for Israel’s release of additional Palestinian prisoners held in jail.

“There is a consensus on the concept of the framework, but critical details of each phase still need to be worked out,” said an official briefed on the negotiations.

If Hamas does agree to the framework proposal it could still take days or weeks to settle logistical details of the ceasefire and the release of hostages and prisoners, the official said.

During the talks preceding the truce in November, the indirect chain of communication between Hamas leaders based in the group’s Gaza tunnels and Israeli officials broke several times because of power outages amid intense fighting, a source briefed on those talks said at that time.

The current behind-the-scenes discussions are proceeding in tandem with a public standoff in which both sides in the conflict appear to want to pressure the other by issuing statements ruling out various potential concessions.

On Tuesday, Prime Minister Benjamin Netanyahu said Israel would not quit Gaza or free thousands of Palestinian prisoners, while Hamas ally Islamic Jihad said it would not engage in any understandings on hostages without ensuring a comprehensive ceasefire and withdrawal of Israeli forces from Gaza.

A far-right partner in Netanyahu’s coalition, Itamar Ben-Gvir, threatened on Tuesday to quit the government over any attempt to enter a “reckless” deal with Hamas on the hostages.

‘WHAT REALLY MATTERS’

It was not immediately clear whether such public positioning reflected developments in the backroom discussions.

The framework agreed in Paris is based on elements of an initial proposal made by Israel and a counterproposal made by Hamas, Sheikh Mohammed said at Washington’s Atlantic Council think tank on Monday.

“We tried to blend things together to come up with some sort of reasonable ground that brings everybody together,” he said.

The source with in-depth knowledge of the proposal said it could still be amended.

“The number of days or hostage calculations can change, but with this approach it allows for a sort of win-win shaped by what really matters to the two sides,” the source said.

Significant gaps remain, almost four months after Hamas fighters killed 1,200 people and took 253 others hostage on Oct. 7 in a bloody rampage through southern Israel towns.

Israel has responded by bombarding the narrow, densely populated Gaza Strip, killing more than 26,000 Palestinians and turning the enclave into a wasteland of rubble.

The source with in-depth knowledge of the talks said the discussions in Paris were “productive,” but that the deal could only move forward if both Hamas and Israel received robust guarantees from its backers.

By leaving the issue of male hostages from the Israeli Defense Forces to the end, the source said, Hamas could be made to feel it retained some leverage over the Israeli military.

Stock Markets

14 lessons from 2024 to remember in 2025: BofA

Published

24 hours ago

December 22, 2024

Investing.com — In a recent note, Bank of America outlined 14 key lessons from 2024 that investors should keep in mind as they head into 2025, warning that market momentum and stretched valuations could face headwinds in the year ahead.

While this year resembled the steady gains of 1996-97, rather than the bubble peaks of 1998-99, risks are mounting—from geopolitical tensions and rising debt to market fragility highlighted by the VIX.

BofA points to opportunities in Europe, China, and Japan but cautions that volatility, trade disputes, and macroeconomic uncertainty will shape the next leg of the market cycle.

Below are the 14 lessons that BofA highlighted.

1. 2024 was a strong year for markets, but it might only be the beginning.

2. The market’s performance in 2024 looked more like the steady gains of 1996-97 than the bubble peaks of 1998-99.

3. In a bubble environment, market leadership can persist for longer than investors can afford to stay underweight.

4. However, the combination of strong momentum and high valuations is already too stretched to avoid a potential bust.

5. The has shown that markets remain fragile, and a major shock may be overdue.

6. August 2024 suggests buying market dips and locking in volatility spikes; using smarter strategies like skewed delta positioning may be key for 2025.

7. Rising debt levels and persistent inflation mean bond vigilantes remain the most visible macroeconomic tail risk.

8. Market fragility, faster reactions, and elevated valuations suggest a repeat of the calm volatility seen in 2017 is unlikely.

9. A Trump election victory has reignited concerns around tariffs, with European companies favored by dollar strength potentially becoming the next trade targets.

10. European equities remain cheap and unloved—investors should be cautious about being caught short, as fewer crowded trades mean less volatility pain.

11. China’s outperformance over Japan in 2024 could continue if U.S. interest rates decline.

12. VIX options data indicates that positioning risks in the market have not gone away.

13. Eurozone bank dividends have outperformed the for much of the past year; investors may need to hedge against a different outcome in 2025.

14. The risk of sharp movements in the Japanese yen, driven by volatility, could cause instability for the in 2025.

Stock Markets

Class Action Lawsuit Reminder WOLF: Kessler Topaz Meltzer & Check, LLP Reminds Wolfspeed, Inc. (WOLF) Investors – A Securities Fraud Class Action Lawsuit Has Been Filed

Published

24 hours ago

December 22, 2024

RADNOR, PA. – (NewMediaWire) – December 21, 2024 – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Wolfspeed (NYSE:), Inc. (Wolfspeed) (NYSE: WOLF) on behalf of those who purchased or otherwise acquired Wolfspeed securities between August 16, 2023, and November 6, 2024, inclusive (the Class Period). The lead plaintiff deadline is January 17, 2025.

CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:

If you suffered Wolfspeed losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/wolfspeed-inc?utm_source=PR&utm_medium=link&utm_campaign=wolf&mktm=r

You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com .

DEFENDANTS ALLEGED MISCONDUCT:

The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Wolfspeeds optimistic claims of potential growth of its Mohawk Valley fabrication facility and general demand for Wolfspeeds 200mm wafers in the electronic vehicle market fell short of reality; and (2) Wolfspeed had overstated demand for its key product and placed undue reliance on purported design wins while the Mohawk Valley facilitys growth had begun to taper before recognizing the $100 million revenue per quarter allegedly achievable with only 20% utilization of the fabrication, let alone the promised $2 billion revenue purportedly achievable by the facility.

Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtu.be/zMLfnSRjg2Y

THE LEAD PLAINTIFF PROCESS:

Wolfspeed investors may, no later than January 17, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Wolfspeed investors who have suffered significant losses to contact the firm directly to acquire more information.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaints in this action were not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com .

CONTACT:

Kessler Topaz Meltzer & Check, LLP

Jonathan Naji, Esq.

(484) 270-1453

280 King of Prussia Road

Radnor, PA 19087

info@ktmc.com

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

View the original release on www.newmediawire.com

Stock Markets

Starbucks workers’ union strikes across US as talks hit impasse

Published

24 hours ago

December 22, 2024

By Savyata Mishra, Gursimran Mehar and Renee Hickman

(Reuters) -Some members of the Starbucks (NASDAQ:) workers’ union that represents more than 10,000 baristas walked off their jobs in multiple U.S. cities on Friday, citing unresolved issues over wages, staffing and schedules.

The five-day strike, which began on Friday and closed Starbucks cafes in Los Angeles, Chicago and Seattle, will expand to Columbus (WA:), Denver, and Pittsburgh through Saturday, the union said in a statement.

This is the latest in a series of labor actions that have picked up pace across service industries following a period when workers at manufacturers in the automotive, aerospace and rail industries won substantial concessions from employers.

At Starbucks, the Workers United union, which represents employees at 525 stores across the U.S., said late on Thursday that walkouts would escalate daily, and could reach “hundreds of stores” nationwide by Christmas Eve.

“It’s estimated that 10 stores out of 10,000 company-operated stores did not open today,” Starbucks said, adding that there was no significant impact to store operations on Friday.

Around 20 people joined a picket line at a Starbucks location on Chicago’s north side, buffeted by snow and wind, but cheering in response to the honking horns of passing cars.

A few confused customers tried to walk into the closed store before strikers began chanting, but union member Shep Searl said the reaction had been mostly positive.

Searl said 100% of the unionized workers at the Starbucks location in Chicago’s Edgewater neighborhood were participating in the strike, and according to the workers, they have been subject to numerous unfair labor practices including write-ups, “captive-audience” meetings and firings.

The union member said they made about $21 an hour and added, “that would have been a great wage in 2013”.

It is an inadequate wage, the baristas said, given inflation and the high cost of living in a large city, especially since they rarely get 40-hour work weeks.

WORKERS SNUB OFFER

Negotiations between the company and Workers United began in April, based on an established framework agreed upon in February, which could also help resolve numerous pending legal disputes.

The company said on Thursday it has held more than nine bargaining sessions with the union since April, and reached more than 30 agreements on “hundreds of topics”, including economic issues.

The Seattle-headquartered firm said it is ready to continue negotiations, claiming the union delegates prematurely ended the bargaining session this week.

The union, however, said in a Facebook (NASDAQ:) post on Friday that Starbucks had yet to present a serious economic proposal with less than two weeks remaining until the year-end contract deadline.

The workers’ group also snubbed an offer of no immediate wage hike and a guarantee of a 1.5% increase in future years.

“Workers United proposals call for an immediate increase in the minimum wage of hourly partners by 64%, and by 77% over the life of a three-year contract. This is not sustainable,” Starbucks said on Friday.

In response to Starbucks’ statement on the proposals, Michelle Eisen, a Starbucks barista and bargaining delegate, said, “Starbucks’ characterization of our proposals is misleading and they know it. We are ready to finalize a framework that includes new investments in baristas in the first year of contracts”.

Separately, the baristas’ union said on Friday that it filed a new labor practice charge against the coffee house, alleging Starbucks “refused to bargain and engaged in bad faith bargaining” over economic issues.

Hundreds of complaints have been filed with the National Labor Relations Board (NLRB), accusing Starbucks of unlawful labor practices such as firing union supporters and closing stores during labor campaigns. Starbucks has denied wrongdoing and said it respects the right of workers to choose whether to unionize.

WORKING ON A TURNAROUND

Last month, the NLRB said that Starbucks broke the law by telling workers at its flagship Seattle cafe that they would lose benefits if they joined a union.

“It’s (the strike) taking place during one of the busiest times of the year for Starbucks, which could magnify its impact while bringing unwanted public scrutiny into the company’s labor practices,” Emarketer analyst Rachel Wolff said.

The coffee chain is working on a turnaround under its newly appointed top boss, Brian Niccol, who aims to restore “coffee house culture” by overhauling cafes and simplifying its menu among other measures.

“Given how much Starbucks is already struggling to win over customers, it can ill afford any negative publicity – or impact to sales – that the strike could bring,” Wolff said.

The Starbucks workers’ strike comes in the same week as Amazon.com (NASDAQ:) workers at seven U.S. facilities walking off the job on Thursday, during the holiday shopping rush.

There were 33 work stoppages in 2023, the most since 2000, though far lower than in past decades, data from the U.S. Bureau of Labor Statistics showed.