Showing posts with label rally. Show all posts
Showing posts with label rally. Show all posts

Literary figures hold rally for Salman Rushdie in New York

More than a dozen acclaimed writers address a crowd at New York Public Library to express solidarity with the controversial author, a week after the stabbing attack on him.

The turnout
The turnout "shows people are not afraid," says writer and historian Amanda Foreman. (AFP)

Prominent literary figures have gathered in Manhattan for a reading of Salman Rushdie's works, in solidarity with the controversial author seriously wounded in a stabbing attack in New York.

More than a dozen acclaimed writers, including friends and colleagues of Rushdie, spoke on Friday at the steps of the New York Public Library for the event, which organisers said the novelist had been invited to watch from the hospital.

In Rushdie's honour, the American literary journalist Gay Talese, sporting his signature fedora hat and three-piece suit, read an excerpt from "The Golden House" novel, while Irish writer Colum McCann read from the 1992 New Yorker essay "Out of Kansas."

AM Homes –– the American author whose own works including "The End of Alice" novel have triggered controversy over the years –– read from Rushdie's piece "On Censorship," which was drawn from a lecture he gave in 2012.

"No writer ever really wants to talk about censorship," she read. "Writers want to talk about creation, and censorship is anti-creation, negative energy, uncreation, the bringing into being of non-being."

Hari Kunzru, the British novelist and journalist, read the opening of that book.

"Salman once wrote that the role of the writer is to name the unnameable, to point at frauds, to take sides, start arguments, shape the world, and stop it from going to sleep," Kunzru said. "That's why we're here."

'People are not afraid'

Writer and historian Amanda Foreman said the turnout "shows people are not afraid."

"No matter what, we and they, we are all willing to stand up for what we are believing," she told the AFP news agency.

Among the attendees was Raymond Lotta, an author and spokesperson for the Harlem shop Revolution Books, who told AFP the stabbing of Rushdie was "an attack on critical thinking, on dissent, on creativity."

Rushdie, who was born in India in 1947 to a family originating in Kashmir, moved to New York two decades ago and became a US citizen in 2016.

He spent years under police protection after Iran's late Supreme Leader Ruhollah Khomeini called for Rushdie's killing a year after the publication of his novel "The Satanic Verses" in 1988, which negatively portrayed Islam and the Prophet Muhammad.

Iran's government has long since distanced itself from Khomeini's decree, but anti-Rushdie sentiment lingered. Iran denied any link with Rushdie's attacker but blamed the writer himself for "insulting" Islam in his book.

Suspect pleads not guilty

In an interview given to Germany's Stern magazine days before last Friday's attack, Rushdie described how his life had resumed a degree of normality following his relocation from Britain.

One week ago Rushdie was about to be interviewed as part of a lecture series in upstate New York when a man stormed the stage and stabbed the 75-year-old writer repeatedly in the neck and abdomen.

Rushdie's suspected assailant, 24-year-old Hadi Matar from New Jersey, was wrestled to the ground by staff and audience members before being taken into police custody.

Matar answered to a grand jury indictment on Thursday, pleading not guilty to attempted murder and assault charges.

Source: AFP


Source https://www.globalcourant.com/literary-figures-hold-rally-for-salman-rushdie-in-new-york/?feed_id=13191&_unique_id=63000f5c92d32

Thousands rally in Brazil in 'defence of democracy'

Demonstrators march in several cities to demand fair elections in October amid fears President Jair Bolsonaro would not accept the outcome if he loses the presidential vote.

Thousands hold up banners denouncing Bolsonaro and proclaiming:
Thousands hold up banners denouncing Bolsonaro and proclaiming: "Respect the vote, respect the people." (AFP)

Thousands of Brazilians have taken to the streets in a symbolic "defence of democracy" march after President Jair Bolsonaro's sustained attacks on democratic institutions just weeks ahead of elections.

Thursday's demonstrations in several cities were sparked by fears that the far-right leader, currently lagging behind in opinion polls, would not accept the outcome of October's vote given his repeated attempts to cast doubt on Brazil's electoral system.

"After 200 years of independence in Brazil, we should be thinking about our future... but we are focused on preventing a regression," University of Sao Paulo rector Carlos Gilberto Junior told a gathering of hundreds of academics, businessmen, trade union leaders and civil society members.

Outside the campus, thousands held up banners denouncing Bolsonaro and proclaiming: "Respect the vote, respect the people."

Some were dressed as electronic voting machines, which Bolsonaro claims, makes rigging the elections easier.

At the university gathering, a video was shown of Brazilian artists reading out a petition "in defence of the democratic state of law."

The petition has garnered more than 900,000 signatures since being posted online weeks ago.

Demonstrations were also held in Rio de Janeiro, Brasilia and Recife.

Voters in Brazil cast their ballots electronically at voting stations. But Bolsonaro has long argued for a paper printout to be made of each vote cast, suggesting the absence of a paper trail enables cheating.

He has not provided evidence of fraud, and the Superior Electoral Court insists the system is fair and transparent.

Violence feared if 'Brazil's Trump' loses

Last month, Bolsonaro repeated his claims at a meeting with foreign ambassadors, prompting the US embassy to later declare that Brazil's electoral system was a "model for the world."

His repeated attacks have led analysts to fear Bolsonaro may refuse to accept defeat like his former American counterpart Donald Trump, whose supporters stormed the US Capitol building after he lost the 2020 election to Joe Biden.

Several Brazilian business associations have also published open letters of concern, including the Brazilian Federation of Banks (Febraban) and the Federation of Industries of the State of Sao Paulo (Fiesp).

This is seen as a setback for Bolsonaro, who drew much support from the business sector in his 2018 election.

According to the latest opinion poll by the Datafolha Institute, published on July 28, Bolsonaro lags 18 points behind former leftist president Luiz Inacio Lula da Silva, who is the favourite to win the election.

Source: AFP


Source https://www.globalcourant.com/thousands-rally-in-brazil-in-defence-of-democracy/?feed_id=9698&_unique_id=62f58b6a33aa2

Dow futures are flat after Wednesday's market rally

Dow futures were flat in overnight trading on Wednesday after all the major averages posted sharp gains on the back of a better-than-expected July inflation report.

Futures tied to the Dow Jones added 0.02% or 6 points, while S&P 500 futures and Nasdaq 100 futures inched 0.07% and 0.13% lower, respectively.

Disney added 6.7% in late trading after posting stronger-than-anticipated subscriber numbers and topping earning estimates on the top and bottom lines. Shares of Sonos slumped more than 19% after missing analysts' expectations.

Wednesday's regular trading session saw all the major indexes rally, with the Dow Jones Industrial Average jumping 535.10 points, or 1.63%, to close at 33,309.51. The S&P 500 added 2.13% to 4,210.24 and hit its highest level since early May, while the Nasdaq Composite gained 2.89% to 12,854.80, its highest close since late April.

The moves came after the headline consumer price index for July came in at 8.5%, slightly cooler than the 8.7% expected by analysts surveyed by Dow Jones, and raised questions as to whether inflation has hit its peak and the Federal Reserve will need to hike rates as aggressively as anticipated when it meets next month.

Beaten-up tech shares that have borne the brunt of this year's selloff drove Wednesday's market rally as shares of Meta Platforms and Netflix jumped 5.8% and 6.2%, respectively. Battered chip names such as Nvidia and Advanced Micro Devices jumped nearly 6% and 4%, respectively.

"For today, we're rallying, and I think it's really because inflation has been such an overhang for investors and for the market," Lindsey Bell, Ally Invest's chief markets and money strategist told CNBC's "Closing Bell" on Wednesday. "And I think what investors are thinking today is maybe the peak really has been put in the past."

Earnings season continues Thursday with reports from Rivian, Warby Parker, Poshmark and more. July producer price index data is also slated for Thursday.


Source https://www.globalcourant.com/dow-futures-are-flat-after-wednesdays-market-rally/?feed_id=9236&_unique_id=62f43b8cb1350

US stocks rally, dollar retreats as Fed hikes interest rates

Analysts said the central bank's move met market expectations and they took heart in Powell's statements that implied the central bank could undertake smaller interest rate hikes later in 2022 after two straight super-sized increases.

All three major US indices enjoyed solid gains, with the S&P 500 finishing up 2.6 percent.
All three major US indices enjoyed solid gains, with the S&P 500 finishing up 2.6 percent. (AP)

Wall Street stocks rallied and the dollar retreated as the Federal Reserve again proceeded with a large interest rate hike, maintaining its forceful stance to combat inflation.

The US central bank carried out the second straight 75 basis point increase on Wednesday, and the fourth rate hike this year, moving aggressively to cool the strongest surge in inflation in more than four decades without derailing the world's largest economy.

But equities pushed even higher during Fed Chair Jerome Powell's news conference, where he described the US economy as slowing but not in recession.

Analysts said the central bank's move met market expectations and they took heart in Powell's statements that implied the central bank could undertake smaller interest rate hikes later in 2022 after two straight super-sized increases.

Wall Street "is contemplating less aggressive monetary policy at least on the Fed Funds rate as we move from the third quarter into the fourth quarter," said Art Hogan, chief market strategist at B Riley Wealth Management.

All three major US indices enjoyed solid gains, with the S&P 500 finishing up 2.6 percent.

The dollar also pulled back against the euro and other currencies in a sign the Fed's stance was seen as less hawkish than expected.

READ MORE: US Fed announces biggest interest rate hike in nearly three decades

[embed]https://www.youtube.com/watch?v=7pe5kXoYHOU[/embed]

'Markets signal of economic strength'

GDP in the first quarter contracted 1.6 percent. Two quarters of negative growth are generally considered a sign the economy is in recession, although that is not the official criteria.

Powell noted the Fed's mandate is to promote price stability and full employment, not to make declarations about recessions — but added he did not consider current conditions consistent with such a categorization.

A recession is "a broad-based decline across many industries that is sustained for more than a couple months," Powell told reporters.

"What we have right now doesn't seem like that. The real reason is that the labor market is just sending such a strong signal of economic strength that it makes you really question the GDP data."

In Europe, shares in London rose 0.6 percent, Paris climbed 0.8 percent and Frankfurt added 0.5 percent.

READ MORE: Eurozone business activity contracts as price rises bite

[embed]https://www.youtube.com/watch?v=hgNKELdX1iU[/embed]

Source: AFP


Source https://www.globalcourant.com/us-stocks-rally-dollar-retreats-as-fed-hikes-interest-rates/?feed_id=3086&_unique_id=62e1d35093387