Paradise News

Tag: General News

  • Logan Couture has setback in rehab from injury

    SAN JOSE – San Jose Sharks captain Logan Couture has had a setback in his rehabilitation from a lower-body injury, further muddying the timeline for when he could possibly return to the team’s lineup.

    Couture skated last Friday and also on Monday in his first two times on the ice since the Sharks began their training camp began on Sept. 21. He came out of Friday’s on-ice workout OK but was given days off on both Tuesday and Wednesday, with Sharks coach David Quinn revealing that Couture “had a little bit of a setback” and remains week-to-week.

    Couture, who had already been ruled out for the Sharks’ season-opening game on Thursday at home against the Vegas Golden Knights, will undergo more tests and continue to be evaluated. He will be off his skates for at least a few more days, Quinn said.

    Couture has played in every Sharks’ season-opener since 2010, and Quinn said the centerman was eager to return from his injury.

    “There always is, especially with someone like him with his makeup. He’s dying to get back out here,” Quinn said. “To see him around here, it’s killing him. But he’s not going to get out there until we’re 100% sure he’s ready to go.”

    Asked, though, if Couture came back too soon this time, Quinn said, “Obviously from a medical standpoint, you’re trying things, ‘this might work, and let’s see how it feels, let him skate.’ And it just didn’t work out.”

    Couture’s present timeline for a potential return remains unclear. At the very least, the setback jeopardizes his chances of playing this month when the Sharks play nine times in the first 18 days of their season.

    Couture’s chance of reaching the 1,000-game milestone this season is also in question. Couture, drafted ninth overall by the Sharks in 2007, has played in 923 NHL games since he broke into the league in 2009.

    Reaching that milestone, though, is likely not on Couture’s mind right now.

    “He’s frustrated,” Quinn said of Couture. “But this is part of being a pro athlete. The unfortunate part of being a pro athlete.”

    Source

  • Oil Assets Divestments Will Boost Production, Employment For Nigeria- Wabote

    The Nigerian oil and gas industry is poised for a boost in crude oil production, employment creation, and capital injection with the planned divestment of some assets by select international oil and gas companies and concomitant acquisition by Nigerian operating companies, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote said on Wednesday.
     

    The Executive Secretary painted this picture while delivering the keynote address on Divestments in oil and gas: the challenges, the opportunities, and the implications to the industry in Nigeria at the 2023 Petroleum and Natural Gas Senior Staff Association (PENGASSAN) Energy and Labour Summit in Abuja.
     

    Quoting the AfricaReport magazine, he stated that about 26 oil mining licenses have been divested or acquired by oil and gas companies in the Niger Delta Basin area of Nigeria in the past decade.

    Some of the divestments currently on the cards include the plan by Shell and ExxonMobil to sell oil and gas assets worth billions of dollars, in addition to Eni’s announcement in September of an agreement with Oando PLC for the sale of NAOC interests in six onshore blocks and Okpai gas power plant in, Delta State.

     
    He emphasized that divestments of oil assets are not necessarily negative, rather they present an avenue for the local capacities and capabilities that have been developed through local content implementation to be brought to bear in the upstream sector.
     

    Wabote outlined several opportunities that would accrue from divestments, such as the injection of new capital, the rejuvenation of divested assets, and an increase in crude oil production through the investment in technologies by the acquiring firms.

    Other direct benefits are the creation of direct and indirect employment opportunities by the indigenous companies and their service providers.

    He reiterated that the divestments confirm that Nigerians and indigenous companies have come of age and have acquired the technical, managerial, and financial capabilities to play in the “big league.”

    He added that “the involvement of our financial institutions on the transactions represents means of efficient capital deployment and capacity building on loans syndication on an international scale. This is also applicable to legal services, insurance, government relations, employee relations, community liaison, and others.”
     

    Aside from the opportunities, the NCDMB boss equally highlighted challenges encountered in the divestment exercises.

    These revolved around the time required to get necessary regulatory approvals as well as the substantial interests from various groups covering political, legal, communities, and labour.

    Among other challenges are the potential for the disruption of oil and gas production, job losses, as well as “access to latest technology especially if the new investors lack the technical expertise or have no support from original equipment manufacturers.”

    There are also issues around how “to manage legacy issues or liabilities related to the environment, communities, and other social commitments and pressure on new investors to recoup investments on time to offset loans and address other financial requirements.”

    The NCDMB boss assured that the Board would continue to partner with industry stakeholders to institute regulations that would ensure that the increasing footprints and stakes of indigenous oil and gas production companies would not lead to a reduction in Nigerian content compliance.

    He promised that the Board would continue to partner with PENGASSAN to shape a future where Nigeria’s energy industry not only survives but thrives in the face of change.

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  • Fact Check: Joe Biden said he would not build “another foot of wall” as president. Did he keep his word?

    Construction on approximately 20 miles of border barriers along the U.S.-Mexico border will begin soon in Texas, the Biden administration announced Oct. 5.

    It’s a notable departure from a key promise Biden made as a 2020 presidential candidate, when he criticized former President Donald Trump’s policies and dismissed a border wall as expensive and ineffective. 

    “There will not be another foot of wall constructed in my administration,” he said in an Aug. 5, 2020, interview.

    Following the announcement this month, Biden said his administration’s hands are tied; he said it must use funds Congress appropriated in 2019 to build barriers along the U.S. southern border. 

    Biden, his communications team and his Homeland Security secretary defended the decision to resume construction. 

    “I was told that I had no choice,” Biden told reporters Oct. 6. “That if Congress passes legislation to build something — whether it’s an aircraft carrier, a wall, or provide for a tax cut — I can’t say, ‘I don’t like it. I’m not going to do it,’ if this hadn’t been vetoed, if it’s the law.” 

    That has not insulated him from criticism from fellow Democrats — nor does it mesh with the explanation from the Department of Homeland Security. 

    Homeland Security Secretary Alejandro Mayorkas said the construction is in response to an uptick in the number of immigrants trying to illegally cross into the U.S. through the Rio Grande Valley.

    “There is presently an acute and immediate need to construct physical barriers and roads in the vicinity of the border of the United States in order to prevent unlawful entries into the United States,” Mayorkas said in an Oct. 5 notice about waiving laws to expedite the border wall construction.

    At PolitiFact we have a Flip-O-Meter to measure politicians’ consistency on issues. The rating is not making a value judgment about a politician who changes positions on an issue. 

    We evaluated Biden’s stance throughout the years on building additional border barriers along the southern border. The evidence shows his change in position is a Full Flop, our definition for a complete change.

    What Biden said in the 2020 presidential campaign

    Biden vowed in campaign materials to stop border wall construction. 

    “Building a wall from sea-to-shining-sea is not a serious policy solution — it’s a waste of money, and it diverts critical resources away from the real threats,” his campaign website read.

    In his immigration plan, Biden promised to end a national emergency that Trump had declared in 2019; the emergency allowed Trump to access Defense Department funding for southwest border fencing. 

    Biden’s plan said, “Building a wall does nothing to address security challenges while costing taxpayers billions of dollars.”

    In 2023, Biden continues to say a border wall is ineffective. But he says he has no choice.

    Biden’s actions to stop border wall construction 

    On his first day in office, Jan. 20, 2021, Biden fulfilled his promise to end Trump’s national emergency, filing a proclamation to terminate it and pause all border wall construction. 

    “It shall be the policy of my Administration that no more American taxpayer dollars be diverted to construct a border wall,” Biden said. “I am also directing a careful review of all resources appropriated or redirected to construct a southern border wall.” He directed his cabinet to redirect funding and repurpose existing contracts. 

    In June 2021, the White House published a fact sheet about its plans to:

    • Cancel all border wall construction projects that used Defense Department funding;

    • End expansions of the border wall “as permitted by law;” 

    • Address “safety and environmental issues resulting from border wall construction under the previous Administration.”

    The Defense Department returned around $2 billion to 66 military projects that had been paused to fund border wall construction, according to the fact sheet. 

    The White House noted that “although most of the funds used for the border wall were diverted from other purposes, Congress provided DHS with some funding for border barrier projects,” and the Department of Homeland Security “is legally required to use the funds consistent with their appropriated purpose.”

    Wall construction linked to congressional spending

    The congressional funding referenced by the White House was secured by Trump in 2019 — nearly $1.4 billion to build border barrier systems along the southwest border. 

    Biden called on Congress in 2021 and 2023 to cancel its 2019 appropriation. He said in 2021 he would seek no additional funding for border wall construction.

    “Unless and until Congress acts on the request, the Administration will continue to use the funds responsibly for their appropriated purpose, as required by law,” the June 2021 fact sheet read.

    In December 2021, DHS said it would begin repair projects along the southern border such as closing barrier gaps, stabilizing eroding areas and cleaning work sites. At the time, DHS again asked Congress to reappropriate the 2019 funding. Social media claims in spring 2022 said Biden was resuming work on the border wall, but we rated those False because it was repair work, not construction. 

    The 2019 appropriation ends at the end of fiscal year 2024, which began Oct. 1. The administration would violate the Budget and Impoundment Control Act if it failed to use the funding, said Gabe Murphy, a policy analyst with Taxpayers for Common Sense.

    The administration “is legally required to use the funding and it must be for the purpose Congress intended,” Murphy said.

    In a June 2021 legal decision, the Government Accountability Office said Biden’s initial pause on border wall construction did not violate the law. 

    However, Murphy said any further delays “would pretty clearly be intentional disregard for following the appropriations statute as Congress drafted and the president signed.”

    In a June 2023 press release, DHS authorized U.S. Customs and Border Protection to begin building around 20 miles of 18-foot border barriers in the Rio Grande Valley Sector, a southeast Texas area spanning more than 34,000 square miles, “as mandated by” the 2019 appropriations bill. Besides building physical barriers, DHS said it would add detection technology, lighting and access roads.

    DHS said it has $190 million remaining from the nearly $1.4 billion appropriated, and continued calling for Congress to “cancel or reappropriate remaining border barrier funding.”

    Despite his other comments about a border wall deterring migrants, Mayorkas, the Homeland Security secretary, also said the announcement to resume construction did not signal a position change. 

    “There is no new Administration policy with respect to border walls. From day one, this Administration has made clear that a border wall is not the answer. That remains our position and our position has never wavered,” Mayorkas said Oct. 5.  

    Our ruling

    As a presidential candidate, Biden said, “There will not be another foot of wall constructed in my administration.” 

    On Oct. 5, his administration said construction on the wall will resume after Biden failed to persuade Congress to repurpose appropriated funding. Biden says his hands are tied, and experts agree that the administration must follow the rule of law.

    But the 2019 congressional appropriation was already in place when Biden made his 2020 promise not to build any more border wall. He made the vow knowing the limitations that existed. And his statement about the wall was unequivocal.

    These actions and statements are a complete change in position. We rate it a Full Flop.

    RELATED: How we determine Flip-O-Meter ratings



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  • NBA GM survey gives Warriors slim title odds, shows Steph Curry love

    Top NBA executives still view Steph Curry as the league’s biggest threat, but don’t believe the Warriors are a true championship contender.

    In the NBA’s anonymous GM survey released on Tuesday, a poll of 30 executives chose the Boston Celtics and reigning champion Denver Nuggets as the teams most likely to win a championship with the new-look Milwaukee Bucks as third most likely, followed by the Phoenix Suns and Los Angeles Clippers.

    “I don’t care. It makes no difference,” coach Steve Kerr told reporters on Tuesday. “It never did anything for me when people picked us. It doesn’t do anything for me when they don’t. It’s just interesting stuff for fans to read. Nothing helpful or harmful to us. It’s definitely not any bulletin board material. We’re not posting that on the locker-room wall, ‘No GMs picked us to win the title. How does that make you feel, fellas?’ I don’t think anybody cares.”

    The poll has Golden State finishing fourth in the Western Conference with an 11% chance to win it behind the Nuggets, Suns and Los Angeles Lakers. Polled last season after the Warriors’ 2022 NBA title, the GMs had them at 48% chance to win the Western Conference.

    Curry got plenty of love in the poll.

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  • INTERVIEW: Economic Hardship Affecting Bedroom Performance Of Married Men – Abuja Judge Reveals 3 Main Causes Of Divorce

    Honourable Abdulrahman Ibrahim is the judge of the Grade One Area Court, Bwari, Abuja.

    The court has jurisdiction over civil and criminal cases within the area.

    In this interview with THE WHISTLER at his chambers, Honorable Ibrahim reveals some of the root causes of divorce in marriages and how people can protect their marriages from divorce. Excerpts:

    What Are The Common Reasons For Divorce Matters In Abuja Courts?

    Thank you very much for this question. From the experience I have as a Grade One Area Court Judge here in Bwari, these are the reasons marriages are broken irretrievably:

    Economic Difficulties: You can see a situation whereby a husband cannot cater for the responsibilities of his family and if the wife does not have an understanding or has been complaining or trying to tolerate it but it (the economic crisis) has reached a certain level, she has to get out of the marriage. Economic difficulty is among the reasons why marriages usually break.

    Lack Of Intimacy: Cohabitation means for a husband to have (intimate) affairs with his wife. With the economic dilemma Nigerians are facing now, men are spiritually discouraged from performing well on their wives because of economic hardships or difficulties.

    Some women don’t take it lightly, if it is in terms of cohabitation, such a woman is ready to get out of the marriage. We do have many cases here in court because of lack of cohabitation; maybe, he (the husband) cannot satisfy her (the wife) or she (the wife), to some extent, is not okay with him (the husband) and would want to go where she will get enough.

    Disagreements About Children: Sometimes, maybe, the wife will have an interest in one of her children studying somewhere while the husband will have a different opinion (about the child’s education); from there, they will have issues which will escalate to a certain level to the point that either of them will come and file a case (divorce/custody application), that based of the case (circumstances), they want to get out of the marriage.

    Even though this is a rare case, we have this kind of case but we do control and tell them to go for settlement and go back to their matrimonial home.

    These are at least, the three reasons marriages are broken. We do have other reasons but these are the major ones I can talk about now.

    What Do You Recommend As a Resolve/Settlement Mechanism Against Divorce In Marriages?

    I recommend that before people get into marriage, they should know their partners, and know the person they are going for as a partner in marriage.

    Because marriage is a long way to go. So, one has to get a person (partner) who understands him or her and who will manage such a person at any given time.

    If we have the best choices in marriages, there is a high tendency for a marriage to be a successful one but if one does not have the right partner, the marriage may not stay long.

    Choosing a (right) partner is also a mechanism for reducing divorce.

    Secondly, I recommend that the wives also have something to be doing in this economic difficulty Nigerians are facing.

    Economic issues are even the major reason why marriages are broken now. You will find a situation where a woman wakes up in the morning and finds out that her husband has run away and she will not know where he is or where he will be found.

    We have many cases in which the husband runs away and the wife cannot reach him on the phone, and she is left with children (to cater for). In our own experience, we observe that it (such development) is part of the economic hardships.

    I recommend that the wives be doing business or working too, so that husband and wife can have two hands trying to manage the family so that each of them can contribute to managing the family.

    Thirdly, I recommend that if you do not have a strong business or a good job, don’t go for marriage, because you end up causing trouble to another person or expose your children to danger.

    Please, let people get ready before going into marriage.

    If people have become couples already, please they should tolerate one another, help one another and unite themselves so that the family could be one house. Tolerance, patience, overlooking, and many more.

    Fourthly, let the woman (wife) stop hearing some side talks from bad friends; it also causes some marriages to be broken.

    Don’t say what Mr A did for his wife, your husband must do it for you too because it may be that your husband is not up to Mr A. Mr A may be earning more than your husband

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  • Fact Check: Donald Trump’s off-base claims about electric car ‘mandates’ and markets

    Is the end near for U.S. automakers? Former President Donald Trump recently told an audience of nonunion autoworkers near Detroit that electric cars are poised to doom their industry.

    “Under Biden’s mandate, the entire car industry will be packed up and shipped to China,” Trump said during a Sept. 27 speech at an auto parts factory in Clinton Township, Michigan.

    Two days later, speaking to a convention of California Republicans, Trump sounded a similar warning.

    “California has imposed the most ridiculous car regulations anywhere in the world, with mandates to move to all electric cars,” he said. “You (will) lose all your jobs, because they’re all going to be made in China and other countries.”

    We contacted the Trump campaign for comment, but didn’t hear back.

    Because Trump’s statement was a prediction, we can’t fact-check it. However, the underlying facts weaken Trump’s comment at the Michigan plant. 

    Although the traditional U.S. auto sector faces challenges from the industry’s shift to electric vehicles, including from China, there is no “Biden mandate” for electric vehicles to fully supplant gasoline-powered vehicles. Biden has offered significant aid to the U.S. auto sector to keep it competitive in the new EV marketplace.

    The U.S. auto industry’s challenges in the EV era are real

    American automakers were late to join the electric car push and now lag some overseas competitors, including China, said Chris Harto, a senior policy analyst for Consumer Reports who tracks the car industry. 

    U.S. companies such as Tesla and Rivian — two nonunion automakers that began as EV companies — have made strides in the expanding EV sector. (Tesla was the top EV seller in the U.S. in 2022.) But even they face supply chain challenges. 

    Data from the International Energy Agency, a Paris-based intergovernmental organization, shows China produces about three-quarters of all lithium-ion batteries. The U.S., by contrast, has just 7% of battery production capacity.

    China also holds 70% and 85%, respectively, of production capacity for two key electric-vehicle battery parts: cathodes and anodes.

    “(China) had the strategic vision to look ahead and see the future potential of EVs and made important investments while the rest of the automotive industry was asleep at the wheel,” Harto said. 

    The Inflation Reduction Act, signed by Biden in August 2022, offers tax incentives for U.S. production of lithium-ion batteries and for the supply chain to produce them.

    The U.S. also signed a memorandum of understanding in early 2023 to help build an electric vehicle battery supply chain in Congo and Zambia, countries with rich supplies of cobalt and other key minerals. This would keep these materials from being exported to China for processing, as happens now.

    This should help, Harto said. “The build-out of the supply chains needed for future EV production volumes are just beginning, and … (the Biden) administration’s policies are targeted at ensuring as much of that supply chain gets built domestically or within friendly nations.”

    However, establishing a supply chain that’s genuinely competitive with China’s could take years, Tu Le, the managing director of Sino Auto Insights, a business consulting company that specializes in transportation, told German news outlet Deutsche Welle.


    The inside of a 2024 Chevrolet Equinox EV 3LT is shown Aug. 30, 2022, in Warren, Mich. (AP)
     

    There is no “Biden mandate”

    Despite the U.S. sector’s challenges, Trump is wrong to say there is a “Biden mandate” to replace gasoline-powered cars with EVs.

    The Biden administration has set a goal — not a mandate — to have electric vehicles comprise half of all new vehicle sales by 2030.

    Separately, California has instituted an escalating scale for the percentage of new zero-emission cars and light trucks that must be sold on car lots  — 35% by 2026, 68% by 2030 and 100% by 2035. But this wasn’t something Biden did, and California’s action does not ban existing gasoline-powered cars. 

    Also, the Environmental Protection Agency proposed new emissions standards to cut 10 billion tons of carbon dioxide, a greenhouse gas that scientists say drives climate change. The EPA projects that because of the standards, EVs could account for 67% of new light-duty vehicle sales and 46% of new medium-duty vehicle sales by 2032.

    Sam Fiorani, an analyst with consulting company AutoForecast Solutions, said the EPA’s policies focus on emissions and are agnostic about technologies. So, although these policies would likely boost electrified vehicles, they wouldn’t ban gasoline-fueled powertrains. 


    Chargers are seen Jan. 3, 2023, near parking stalls for electric vehicles outside the Cockeysville Public Library in Cockeysville, Md. (AP)
     

    Biden has advanced policies to help U.S. automakers shift to EVs

    The Inflation Reduction Act, a Biden policy agenda cornerstone, included tax credits up to $7,500 to encourage people to buy EVs. Another key Biden agenda item, the bipartisan infrastructure law, includes $7.5 billion in EV charging investments; $7 billion for EV battery components, critical minerals and materials; and $10 billion for other “clean transportation” initiatives.

    In August, the Energy Department announced a $15.5 billion loan and funding package to help existing car manufacturing plants retool for electric vehicles. And in June, the Energy Department said it would lend $9.2 billion to Ford Motor Co. and a supply partner to build three electric vehicle battery factories in Kentucky and Tennessee.

    “If the (Biden) administration does not incentivize an electric transition, it means the U.S. will cede EV leadership to China,” said Tod Rutherford, a professor in Syracuse University’s Geography and the Environment Department and a car industry specialist. “The Europeans are very alarmed by this and especially the German manufacturers are scrambling to catch up. In other words, there is not only an environmental issue here but an economic one.”

    Amid these incentives and assistance packages, U.S. automakers have reiterated their desire to move toward EVs.

    A 2021 Reuters analysis showed carmakers planned to spend an estimated $515 billion over five to 10 years to develop and build new battery-powered vehicles. That’s up from $300 billion three years earlier. Reuters found that U.S. automakers General Motors Co. and Ford Motor Co. expected to spend nearly $60 billion on EVs through 2025.

    Stellantis, Chrysler’s parent company, said it will invest $35.5 billion on EVs and their technologies through 2025, NBC News reported. And an analysis of press releases, company earnings reports and public resources by electric-car market tracker Atlas Public Policy showed an estimated $210 billion is expected to be invested in U.S. electric-car making by 2030. 

    The White House estimates that carmakers have invested $85 billion in manufacturing  electric vehicles, batteries and chargers in the United States during Biden’s administration.

    In all, Trump’s assertion that the car industry will be leaving the United States is “substanceless,” said Jeremy J. Michalek, a Carnegie Mellon University engineering and public policy professor who directs the school’s Vehicle Electrification Group.

    Powertrain system production will shift from gasoline engines toward electric motors and batteries, he said. But most other materials and components needed to make a car won’t and may be supplied by a variety of nations. 

    “There are likely to be complex effects of this shift, but all automobiles are already produced with a mix of systems and components produced across a global supply chain, so this really isn’t new,” he said. 

     



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  • Ozempic for weight loss is disrupting companies’ business model – Paradise Post

    Leslie Patton | (TNS) Bloomberg News

    As sales of appetite-suppressing drugs such as Ozempic and Mounjaro skyrocket, corporate America is grappling with the question: How does a less-hungry, less-impulse-prone consumer affect my business model?

    Companies from Walmart Inc. to Conagra Brands Inc. are weighing how much to factor the diabetes drugs known as GLP-1s, increasingly being used for weight loss, into their strategies. Moves they make now could reverberate for years to come, so the pressure’s high to get it right.

    “Companies will overreact. The smart money will take action, but act slowly,” said Gary Stibel, chief executive officer of New England Consulting Group, which advises consumer and health care companies.

    John Furner, CEO of Walmart’s U.S. operations, recently said the retailer is seeing a “slight pullback in the overall basket” of food purchases as a result of the drugs, but added it’s too early to draw definitive conclusions. Conagra CEO Sean Connolly told investors recently that his company’s scientists are looking at the data, and the maker of Slim Jim and Swiss Miss could offer smaller portions in the coming years if that’s the way preferences evolve.

    Companies are intensifying their scrutiny of the drugs amid a growing sense in the scientific community that the treatments represent a real breakthrough. Scientists have studied the GLP-1 hormone for more than three decades, but the newer, more potent drugs such as Wegovy and Mounjaro have opened the door for new discoveries and potential use beyond obesity and diabetes.

    ‘Brand-new territory’

    “We’re still learning what else it might be good for,” said Daniel Drucker, a co-discoverer of the GLP-1 hormone who works as a professor of medicine at the University of Toronto. “This is brand-new territory.”

    In the business world, most executives are still taking a cautious approach.

    Adnan Durrani, CEO of Saffron Road, which makes frozen meals, chicken wraps and crunchy-chickpea packaged snacks, said snack companies “are talking about making smaller pack sizes and things like that, and that’s kind of nutty thinking because it’s just too early to know how much it’s going to impact consumer behavior.”

    He recalled the olestra fad of the 1990s, when the fat substitute rapidly invaded the food aisle before being discarded due to its unpleasant side effects.

    Bill Chidley, co-founder of brand consultant ChangeUp, cited the “whipsaw effect” that such trends can create, recalling SnackWell’s fat-free and low-fat cookies, which have now disappeared from the market. “Now, all of sudden you’ve got a product that is totally out of position,” he said. “The world flipped over.”

    Atkins Diet

    The Atkins Diet, which restricts intake of carbohydrates and gained popularity in the early 2000s, is also instructive. It fueled a whole category of products, including low-carb ketchup, ice cream and soft drinks. American Italian Pasta Co., which at the time was the largest U.S. pasta maker, and Krispy Kreme were pummeled by the diet, while Interstate Bakeries Corp., which was then the maker of Twinkies, cited the trend when it filed for bankruptcy in 2004.

    But by 2005, companies including General Mills Inc. were reversing course as the diet’s popularity faded amid a lack of evidence it achieves durable weight loss.

    “We’ve lived through what I think turned out to be a fad that we predicted would be a fad,” Richard Rosenfield, then an executive at California Pizza Kitchen, said in 2005. “It never seemed to affect our business. We did great through that craze.”

    Nonetheless, remnants of the Atkins Diet still linger: Chipotle Mexican Grill Inc. has burrito bowls for the carb-conscious that are now labeled as Keto and Paleo friendly. Starbucks Corp. sells high-protein boxes with cheese and eggs.

    The experience could prove instructional today as analysts recalibrate their projections based on the expected impact from the drugs, which have long been used to treat diabetes but are increasingly being taken for obesity and weight loss. Walmart, for example, may want to think twice before it dramatically shrinks its grocery section.

    Even so, recent findings are eye-opening. A survey of GLP-1 users by Jefferies showed that more than 40% of respondents said they were eating out less. A similar percentage reported ordering less when they did. About 70% said they’re eating less overall, and roughly the same amount reported “increased awareness of nutritional benefits for foods.”

    Based on the results, Jefferies analysts say packaged-food companies including Campbell Soup Co., Hershey Co. and Post Holdings Inc. could be adversely affected. But the picture isn’t so clear, with the analysts also pointing out that about 60% of respondents intend to stop using GLP-1s once they reach their target weight.

    “So the question remains if the new eating habits will continue once the drug usage fades,” they wrote.

    Usage patterns

    The usage patterns are another unknown. Patients often regain weight once they’ve stopped taking the drugs and experts say they may need to be on the medications for the rest of their lives to keep weight off permanently.

    Bank of America analysts also projected risks in snacking and beverages, given the GLP-1s lower appetites and also appear to reduce the impulse to drink.

    It isn’t just the obvious food-related categories that could be disrupted. Weight loss from GLP-1s could drive wardrobe revamps, according to Bank of America, particularly among the affluent who can budget for these medications, which currently cost more than $1,000 a month. Plus-size retailers such as Torrid Holdings Inc. could see sales decline, while Lululemon Athletica Inc. and Hoka sneaker parent Deckers Outdoor Corp. could benefit from healthier lifestyles.

    Jessica Ramírez, an analyst at Jane Hali & Associates, said the pandemic provides a recent potential case study, noting that after COVID restrictions eased, many consumers gained a lot of weight, while others shed it. “They had to replenish their wardrobe,” Ramírez said, noting that apparel companies didn’t have an issue adjusting their offerings.

    Companies now face the daunting task of weighing the evolving data to determine the right strategy.

    “We always go through these cycles of a new miracle drug, a new miracle food ingredient,” said Saffron Road’s Durrani. “It’s really early days.”

    ———

    (With assistance from Madison Muller, Jeannette Neumann, Tiffany Kary and Tonya Garcia.)

    ___

    ©2023 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

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  • ‘We Can’t Win War On Corruption Alone – EFCC Tells Nigerians

    The Economic and Financial Crimes Commission, EFCC, has said it cannot win the war against corruption alone, but through the collective efforts of every Nigerian.

    The Commission stated this on Tuesday, when it received Post-Graduate Auditing and Forensic Management Students of Nile University at the Commission’s Headquarters in Jabi, Abuja.

    Represented by the Acting Director, Public Affairs Department, Wilson Uwujaren, the Acting EFCC Chairman, Abdukarim Chukkol, said, “Fighting corruption is not for EFCC alone, because no matter what we do on our own, we can’t win this war without the buying in of the people, and young people like you.

    “You have a role to play in this exercise. One of our former Chairmen said that one of the most important stakeholders that we have in fighting corruption are the citizens, and you are all citizens, as you have a great role to play in this fight.”

    The Acting EFCC boss further highlights that corruption is one of the problems that is affecting the progress of Nigeria.

    “…there is nowhere you look at in our society today that you can’t find evidence of corruption. Our nation is highly blessed in terms of resources, materials resources, but despite the potentials that we have as a nation, we have not been able to make progress because of corruption,” he said.

    Meanwhile, the Head of Media & Publicity Unit of the EFCC, ACE1 Dele Oyewale, stressed the need for new Ideas in driving the anti-corruption fight.

    He specifically called for new insights through digital applications, creative resistance to corruption and musical engagements of youths and other Nigerians to shun all shades of corruption.

    Oyewale said, “We need fresh thinking to tackle corrupt practices. As youths, digital interventions, creative resistance to graft and musical re-orientation are important.

    “The task of fighting economic and financial crimes is a task for everyone, because we are all suffering the effects of corruption across the country, we should also be involved in fighting it”.

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  • Fact Check: No evidence to support claim about cocaine in Justin Trudeau’s plane

    It’s a salacious claim worthy of a subplot in a fictional tv show: A head of state touches down in India on a cocaine-filled airplane.

    But social media posts sharing this allegation about Canada Prime Minister Justin Trudeau failed to tell the whole story of where this allegation came from and why it lacks credibility.

    “Busted: Trudeau’s plane filled with cocaine, psychedelic drugs!? Diplomat outs scumbag Canadian PM,” read a Sept. 27 Facebook post.  The caption of another Facebook post that day said there were “reports of cocaine found” on Trudeau’s plane.   

    These posts were flagged as part of Meta’s efforts to combat false news and misinformation on its News Feed. (Read more about our partnership with Meta, which owns Facebook and Instagram.) 

    Trudeau flew to India in September to attend the G20 summit. But we found no evidence to support the claim he did so on a plane filled with cocaine. There were no announcements of government investigations and Trudeau’s office dismissed the claim in a statement.

    “This (is) absolutely false and a troubling example of how disinformation can make its way into media reporting,” Trudeau’s team said, according to the Toronto Sun.

    The claim got its start when India’s former ambassador to Sudan, Deepak Vohra, appeared on the Indian TV show Zee News Sept. 21. Vohra told journalist Deepak Chaurasia that there was a “credible rumor” that Trudeau’s plane was “full of cocaine” when he arrived in New Delhi for the G20 summit.

    “When Justin Trudeau came to India for the G20 this month, his plane was full of cocaine. He did not come out of his room for two days,” Vohra said, offering no evidence to support the claim.

    NewsMobile, an Indian fact-checking site and signatory of the International Fact-Checking Network, reported that senior Indian government officials said the claim was false. 

    Vohra’s description of the plane came amid high-profile tension between Canada and India. On Sept. 18, Trudeau accused India of being involved in June’s fatal shooting of Hardeep Singh Nijjar, a Canadian citizen, on Canadian soil, The New York Times reported. Officials in India called the allegation “absurd.” 

    Canada expelled a senior Indian diplomat, sparking a retaliatory move from India, which expelled a senior Canadian diplomat. India also issued travel warnings and stopped issuing visas for Canadians, according to The Independent.

    The Toronto Star newspaper reported that Trudeau has been the target of disinformation since he claimed India was involved in the killing, and the newspaper specifically cited the cocaine story as an example.

    With no evidence to back this claim, we rate the statement that Trudeau’s plane was filled with cocaine when he landed in India for the G20 summit False.

     



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  • San Jose Sharks feel improved even without Erik Karlsson, Timo Meier

    SAN JOSE – The San Jose Sharks were in the early stages of practice — exercising an up-tempo drill — when a sloppy entry by one forward across the blue line resulted in an easy turnover for the opposing defenseman.

    Right then, Sharks coach David Quinn halted the drill. Using some choice language, Quinn raised his voice and reminded his team that poor puck management was one of the Sharks’ biggest issues last season.

    “It’s not going to happen this year,” Quinn told his team Tuesday. “We have to work with a purpose.”

    Fixing those types of mistakes will be crucial for the Sharks if they have any hope of improving upon their 22-44-16 record from last season. This is not a team that figures to light up the scoreboard now that Erik Karlsson and Timo Meier are no longer wearing teal, so playing smart, detailed hockey will be necessary if they want to remain competitive on a nightly basis.

    “Will we win games 6-5? Probably not,” Sharks winger Mike Hoffman said. “But there are guys in here that can put the puck in the net and make plays. We have an opportunity to prove some people wrong.”

    Here are five ways the Sharks can be better than expected.

    TEAM SAVE PERCENTAGE

    The most obvious way for the Sharks to have an improved record this season is to stop the puck a few more times. San Jose had the worst save percentage in the NHL in 2022-23, as James Reimer, Kaapo Kahkonen, Aaron Dell, and Eetu Makiniemi combined for an unsightly mark of .881, a drop from .900 the season before.

    Of the 52 goalies that played in at least 25 games last season, Reimer and Kahkonen, per moneypuck.com, ranked 45th and 50th, respectively, in goals saved above expected per 60 minutes.

    “I always judge a bad goal by the reaction on the bench, and we all can feel it,” Quinn said recently. “There are some that you think maybe (the goalie) could have had, and you can live with those. It’s the ones where you go, ‘he should have had that.’ When everybody on the bench feels it, that can be demoralizing, and it happens to every team.”

    Quinn liked what he saw from Kahkonen and Mackenzie Blackwood in training camp. Going from .881 to .900 save percentage won’t solve all of the Sharks’ issues, far from it. But it would keep them in more games and put them closer to the league average. Of the top 16 teams in save percentage last season, 12 made the playoffs.

    5-ON-5 GOALS AGAINST

    Goaltending plays a role in this as well, but so does managing the puck and staying above the puck. The Sharks allowed 220 5-on-5 goals against last season, third-most In the NHL ahead of only Columbus (231) and Anaheim (225).

    Limiting turnovers can go a long way in cutting down this number, and doing this will allow the Sharks to be in a proper defensive zone structure more often. Managing game situations properly and making smart, simple plays with the puck in close games can make a difference.

    That theme was drilled home by the Sharks coaching staff all training camp. Will the players buy in?

    “Teams around the league are just so tight. They’re not going to give you free goals,” Sharks defenseman Matt Benning said. “So if we can limit those unnecessary turnovers that lead into sustained time in our zone, which maybe leads to an icing, then that leads to a goal against, those are the sorts of things that (build) momentum.

    “If we can be on the other side of those and manage the puck really well and force turnovers from other teams, that gives us momentum.”

    San Jose Sharks' Kevin Labanc (62) scores a goal and celebrates with San Jose Sharks' Logan Couture (39) during the first period at the SAP Center in San Jose, Calif., on Sunday, March 18, 2023. (Shae Hammond/Bay Area News Group)
    San Jose Sharks’ Kevin Labanc (62) scores a goal and celebrates with San Jose Sharks’ Logan Couture (39) during the first period at the SAP Center in San Jose, Calif., on Sunday, March 18, 2023. (Shae Hammond/Bay Area News Group)

    CREATING MORE POWER PLAYS

    The Sharks will use five forwards on their first power play unit, at least to start the season. It might be fun to watch at times, but how often will fans get to see it?

    The Sharks were 25th in the league with a power-play percentage of 18.4 last season. Almost as big an issue was that they only had 223 power play opportunities, the third-lowest number in the NHL. In 15 games last season, the Sharks had one power play or less.

    “I think moving your feet, getting to the net, and not standing around,” winger Luke Kunin said when asked how the Sharks can draw more penalties. “When you’re moving your feet, there’s maybe more chances for (defenders) to hook you and pull you down and get interference calls.

    “When you’re drawing penalties, it’s usually guys moving their feet, working hard, getting off the walls, and getting in the middle of the ice.”

    MORE PUSHBACK

    The Sharks might not collect a ton of points this season but at least they can leave opponents feeling like they’ve been in a tough game.

    Quinn and general manager Mike Grier want a team that plays with a bit more of an edge, particularly at home, where they were a dismal 8-21-11 last season. Scrums, it seemed, were as rare as home victories.

    Grier was a hard-nosed player during his 14-year career and at the very least, wants his team to show it won’t back down from a battle.

    “You need a little bit of pushback, you need a little bit of jam, you need a little bit of an in-your-face kind of attitude,” Sharks defenseman Kyle Burroughs said. “Guys have been brought in who enjoy playing like that, and I think that we can push the envelope a little bit more and be a hard team to play against.

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