US President Joe Biden gave a foreboding farewell address on Wednesday, warning that American democracy is at risk from oligarchs and the spread of misinformation.
During a 20-minute speech from the Oval Office in what were probably his final public remarks as President before Donald Trump is sworn in on Monday, Mr Biden did not seek to highlight his achievements but instead chose to close his single term in office with a sombre warning.
“Today, an oligarchy is taking shape in America, of extreme wealth, power and influence that really threatens our entire democracy, our basic rights, freedoms and a fair shot for everyone to get ahead,” he said.
He said a “dangerous concentration of power” of “ultra-wealthy people” could lead to “dangerous consequences if their abuse of power is left unchecked”. Mr Trump, himself a billionaire, has received widespread support from ultra wealthy and influential Americans, including the world's richest man Elon Musk, and has been accused of planning tax breaks and other benefits for the country's highest earners.
He warned that “Americans are being buried under an avalanche of misinformation [and] disinformation, enabling the abuse of power”.
Mr Biden began his address by discussing the Gaza ceasefire and hostage release deal reached earlier on Wednesday.
“This plan was developed and negotiated by my team, and will be largely implemented by the incoming administration,” he said. “That's why I told my team to keep the incoming administration fully informed because that's how it should be, working together as Americans.”
Domestically, Mr Biden takes pride in passing legislation that favoured working-class Americans, including student debt forgiveness and lowering prescription drug costs.
Most Americans, though, blamed his administration for inflation, particularly the increase in food and housing costs. He praised the passing of several pieces of legislation, including the bipartisan Inflation Reduction Act.
“Together, we've launched a new era of American possibilities, one of the greatest modernisations of infrastructure in our entire history – from new roads, bridges, clean water, portable high speed internet for every American.”
Mr Biden never mentioned Mr Trump by name, but he wished the incoming administration well. “I want America to succeed,” he said.
Before his address, Mr Biden released a letter to the American people touting the accomplishments of his administration over the past four years and urging people to build on that progress.
He said he brought back a nation and an economy that was reeling from a global pandemic, and worked on lowering inflation and increasing wages.
“I ran for president because I believed that the soul of America was at stake,” he wrote. “The very nature of who we are was at stake. And that’s still the case.”
White House press secretary Karine Jean-Pierre said the address was direct message to reflect on the political career that began more than 50 years ago.
“This is an important moment for the President. He has been working on the speech because these are farewell remarks, but he is going to be talking directly to the American people; it is not going to be partisan,” Ms Jean-Pierre said.
“The President has a lot to say, he wants to really touch on the moment that we're in right now. What he wants to do, obviously, is also be positive.”
On Monday, Mr Biden spoke at the State Department, where he gave wide-ranging remarks summarising his administration's efforts abroad. He focused on how he had restored American alliances and global leadership after four years under Mr Trump, and that he would be handing his successor a “very strong hand to play”.
In July, Mr Biden announced he would no longer be seeking a second term amid enormous pressure from his Democratic Party after a disastrous performance during a debate against Mr Trump. Vice President Kamala Harris ran in his place, with only a few months to put together a campaign. It is an effort that normally requires at least a year.
“I think I would have beaten Trump,” Mr Biden said on Friday. “I thought it was important to unify the party and when the party was worried about whether or not I was going to be able to move, even though I thought I could win again, I thought it was better to unify the party.”
His popularity also suffered after the hasty withdrawal from Afghanistan in 2021, which led to the deaths of 13 US troops.
“In my mind, it was time to end the war and bring our troops home, and that’s what we did,” he said on Monday. “And I think history will reflect that.”
Mr Biden has not specified how he would be spending his time after his presidency and 50 years in politics, which he has often called the privilege of his life.
“I'm not going to be out of sight or out of mind,” he said.
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Raha%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Kuwait%2FSaudi%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Tech%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2414%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Soor%20Capital%2C%20eWTP%20Arabia%20Capital%2C%20Aujan%20Enterprises%2C%20Nox%20Management%2C%20Cedar%20Mundi%20Ventures%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20166%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Schedule:
Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
23 Oct, 5th ODI, Sharjah
26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
The%C2%A0specs%20
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Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
What is type-1 diabetes
Type 1 diabetes is a genetic and unavoidable condition, rather than the lifestyle-related type 2 diabetes.
It occurs mostly in people under 40 and a result of the pancreas failing to produce enough insulin to regulate blood sugars.
Too much or too little blood sugar can result in an attack where sufferers lose consciousness in serious cases.
Being overweight or obese increases the chances of developing the more common type 2 diabetes.