Categories
US

Who was al Qaeda leader Ayman al-Zawahiri?

Zawahiri, 71, was a key architect behind multiple assaults on the US, and was “deeply involved” in the planning of the September 11, 2001 terror attacks, Biden said.

“People around the world no longer need to fear the vicious and determined killer. The United States continues to demonstrate our resolve and our capacity to defend the American people against those who seek to do us harm,” Biden said from the Blue Room Balcony of the White House.

Here’s what you need to know about Zawahiri and the US’ strike against him.

Born in 1951, Zawahiri grew up in an upper-class neighborhood in Cairo, Egypt, the son of a prominent physician and grandson of renowned scholars.

His grandfather, Rabia’a ​​al-Zawahiri, was an imam at al-Azhar University in Cairo. His great-uncle of him, Abdel Rahman Azzam, was the first secretary of the Arab League.

Zawahiri was imprisoned for his involvement in the 1981 assassination of Egyptian President Anwar Sadat.

“We want to speak to the whole world. Who are we? Who are we?” he said in a jailhouse interview.

By that time, Zawahiri, a young doctor, was already a committed terrorist who conspired to overthrow the Egyptian government for years and sought to replace it with fundamentalist Islamic rule. He proudly endorsed Sadat’s assassination after the Egyptian leader made peace with Israel.

What was his relationship with Osama bin Laden?

Zawahiri left Egypt in 1985 and made his way to Peshawar, Pakistan, where he worked as a surgeon treating the fighters who were engaged with Soviet troops in Afghanistan.

That is where Zawahiri met bin Laden, a prominent Mujahedeen leader and who also had left behind a privileged upbringing to join the fight in Afghanistan. The two became close, linked by their common bond as “Afghan Arabs.”

After reuniting in Afghanistan, bin Laden and Zawahiri appeared together in early 1998 announcing the formation of the World Islamic Front for the Jihad Against the Jews and the Crusaders — formally merging the Egyptian Islamic Jihad and al Qaeda.

At one point, I acted as bin Laden’s personal physician.

“We are working with brother bin Laden,” he said in announcing the merger of his terror group in May 1998. “We know him since more than 10 years now. We fought with him here in Afghanistan.”

Osama bin Laden sits with Ayman al-Zawahiri on November 10, 2001.

Together, the two terror leaders signed a fatwa, or declaration: “The judgment to kill and fight Americans and their allies, whether civilians or military, is an obligation for every Muslim.”

What role did Zawahiri play in al Qaeda’s attacks against the US?

The attacks against the US and its facilities began shortly after bin Laden and Zawahiri’s fatwa, with the suicide bombings of US embassies in Kenya and Tanzania that killed more than 200 people and wounded more than 5,000 others.

Then, there was the attack on the USS Cole in Yemen in October 2000, when suicide bombers on a dinghy detonated their boat, killing 17 American sailors and wounding 39 others.

The culmination of Zawahiri’s terror plotting came on September 11, 2001, when nearly 3,000 people were killed in the attacks on the twin towers of the World Trade Center and Pentagon. A fourth hijacked airliner, headed for Washington, crashed in a Pennsylvania field after passengers fought back.

Before and after the September 11 attacks, Zawahiri appeared on numerous video and audiotapes calling for attacks against Western targets and urging Muslims to support his cause.

Some Egyptians traced Zawahiri’s anger toward the United States to what many Afghan Arabs felt was the CIA’s betrayal to support their cause after the Soviets left Afghanistan and the country slipped into tribal anarchy.

Others date Zawahiri’s wrath to 1998, when US officials pushed for the extradition of a number of Egyptian Islamic Jihad members from Albania to stand trial in Egypt for terrorism.

Zawahiri’s brother, Mohammad, told CNN in 2012, “Before you call me and my brother terrorists, let’s define its meaning. If it means those who are bloodthirsty merciless killers, then this is not what we are about,” he said.

“We only try to regain some of our rights that have been hijacked by Western powers throughout history.”

When did Zawahiri start leading al Qaeda?

Zawahiri became al Qaeda’s leader after US forces killed bin Laden in 2011.

He was constantly on the move once the US-led invasion of Afghanistan began after the September 11 attacks. At one point, he narrowly escaped a US onslaught in the rugged, mountainous Tora Bora region of Afghanistan, an attack that left his wife and children dead.

Zawahiri “was not a charismatic leader in the mold of bin Laden,” CNN National Security Analyst Peter Bergen said Monday. “He didn’t prove to be a very competent leader of al-Qaeda. But the reason I think that he was killed in Afghanistan over the weekend was he was beginning to take a lot more risks.”

“According to the United Nations, he’d released kind of an unprecedented number of videos. Every time you record a video, there’s the chain of custody of that video, getting it out there, somebody maybe taking the video,” Bergen continued.

“So he was becoming more prominent. And, I think, it seems to me that may well have been the reason that he was detected.”

In a briefing by a United Nations panel of experts last week it was noted that Zawahiri’s apparent increased comfort and ability to communicate has coincided with the Taliban’s takeover of Afghanistan and the consolidation of power of key al-Qaeda allies within their de-facto administration.

The last known public address by Zawahiri was an audio message released on July 13 by the media arm of al Qaeda.

How did the US kill Zawahiri?

The US undertook “a precision counterterrorism operation” in Afghanistan targeting Zawahiri, who was sheltering in a safehouse in Kabul, a senior administration told reporters Monday.

According to the official, “a precise tailored airstrike” using two hellfire missiles was conducted at 9:48 pm ET on Saturday, July 30 — 6:18 am Kabul time — via unmanned air strike and was authorized by Biden following weeks of meetings with his Cabinet and key advisers.

No American personnel were on the ground in Kabul at the time of the strike.

CNN’s Kevin Liptak, Kylie Atwood, Natasha Bertrand and Donald Judd contributed to this report.

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Categories
Technology

Voodoo Lab expands their Pedal Power line with the X8

Words by Mixdown Staff

Eight isolated outputs with audiophile-quality power

Voodoo Lab has expanded their Pedal Power range with the X8 which boasts eight galvanically isolated 9V DC outputs with a hybrid DC design providing audiophile-quality power.

What you need to know:

  • Voodoo Lab has expanded their Pedal Power range with the X8.
  • It boasts eight galvanically isolated 9V DC outputs.
  • Each output delivers up to 500mA of current to supply power-hungry modern DSP effects.

Read all the latest product news here.

Each output delivers up to 500mA of current to supply power-hungry modern DSP effects, while the low-profile, super-light Pedal Power X8 is a perfect fit for small to medium-sized travel boards.

No voltage converters are required with the Pedal Power X8 being operable at any input voltage from 100-240AC, making power supply a hassle-free cause wherever you find yourself.

You can also power 18V pedals by combining outputs with an optional voltage doubler cable or adapter.

In addition to serving as a stand-alone power supply, X8 can also power from X-LINK expansion ports, adding eight isolated outputs to a Pedal Power 3 Series power supply.

“From vintage battery-operated stompboxes to modern high current DSP effects, Pedal Power X8 delivers the best power in the business to ensure pedals always sound and perform their best,” Voodoo Lab said.

Head to Voodoo Lab for more information. For local inquiries, reach out to EGM Distribution.

Categories
Entertainment

Andrew Forrest’s daughter Sophia shares PDA anniversary video with partner Zara Zoe months after engagement

Sophia Forrest has celebrated her fourth anniversary with her partner Zoe Zara by sharing a cute montage of videos on her Instagram.

Forrest, who is the daughter of mining magnate Andrew ‘Twiggy’ Forrest and Nicola Forrest, wrote a heartwarming caption along with the video.

“Happy anniversary darling, the last four years have been a transformation,” she began her post.

“Some fun memories after you said yes and made me the happiest little bean in all the land.”

The video shows the couple enjoying what appears to be the beautiful outback in the State’s north west.

The clip begins with the pair horseriding before they stop alongside a dry river with a campfire, where her dad can be seen wearing a sleeveless blue tank and white pants. The video then transitions from land to sea, where the couple, along with Nicola, enjoy a day out on the ocean.

Sophia Forrest and Zara Zoe
Camera IconSophia Forrest and Zara Zoe Credit: Instagram

In another part of the video, clips from a glamorous dinner can be seen with a card that reads, “congratulations on your engagement.”

The video comes just months after the couple announced their engagement via social media.

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Categories
Sports

Nathan Cleary speak tackle ban; Penrith Panthers, suspension, five games, six weeks, NRL 360, Paul Kent, match review committee

Origin coaches Billy Slater and Brad Fittler have come under fire for suggesting Nathan Cleary be handed a lighter suspension due to his character and standing in the game.

Cleary accepted a five-week ban following his send off for an ugly lifting tackle on Eels star Dylan Brown over the weekend.

Slater, however, couldn’t fathom Cleary being rubbed out for an extended period of time.

Clearly accepts five game ban | 00:45

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“Do we need to be wiping our best players out of the competition for a quarter of the season for one mistake that they make?” Slater said on Channel Nine’s Billy’s Breakdown.

It was a sentiment echoed by Phil Gould.

“I don’t think we need good players out of the game for six weeks to remind them that that’s not what you do,” he said on 100% Footy.

“That’s just an error of judgement. I know this Penrith tackling technique very well, he’s probably thinking his other two players would support that player a little better than they did. They pulled away from it and he found himself in an awkward position.

“Does Nathan Cleary need six weeks away from the game to learn his lesson that’s the wrong tackle to make? He knew it six seconds after he did it that it was wrong.

“They probably want to send a message to the rest of the competition, they want it to look like the star players don’t get special treatment.”

St George forward Aaron Woods, however, was enraged by the stance.

“Freddy and Billy Slater were coming out and saying ‘he’s a good bloke and we don’t want to be missing these good players before semi-finals’,” Woods said on triple m

“That’s bull crap if you ask me.

“He had a prior charge already on Billy Walters earlier on in the year.

“He would have got four weeks, but he had that and that’s an extra week.

“Freddy came out and said that Liam Martin helped it a bit – no he didn’t. He pulled off the tackle and you see Cleary re-grip and get a hand in between the leg.

“That’s the difference between the one with Karl Lawton at the start of the year…(that tackle) was fully momentum, he got around the waist with both hands and it was just a driving tackle and luckily (Cameron) Murray twisted and landed in a really good position.

“Dylan Brown was still on the ground, you could see how hurt he was and he (Cleary) had all the intent. Just because he comes out on Instagram and says ‘I’m sorry and it was totally out of character’ – that’s what happens on a rugby league field.

“Things can go one way or the other and it obviously had no malice, but that’s just part of the game.

Clearly MARCHED in 18th minute! | 00:45

Woods said Cleary was far from a clean skin

“It’s a joke – remember he got in trouble for the TikTok? People forget about that as well. I got 10 in the bin the other week and was like ‘mate you shouldn’t have done that’ but everyone else was like ‘sucked in’.

“If Jared Waerea-Hargreaves does the spear tackle, we’d give him life in this game.

“It just frustrates me, just because they are the players they like – call a spade a spade.”

The NRL360 panel also took aim at those suggesting Clearly be afforded special treatment.

“I heard Billy Slater talking after the game saying how Nathan doesn’t need five weeks on the sideline to realize he’s made a mistake, but you have to put him out,” Paul Kent said on Monday night.

“You just have to do that.”

“What do you mean he doesn’t need five weeks out to learn?,” Braith Anasta questioned.

“Because Nathan’s smart enough to correct it and he knows he made a blue,” Kent replied.

“But why was he saying, why was Billy Slater saying that,” Anasta hit back.

“He wasn’t agreeing with the five week penalty, he was thinking one or two weeks could have been enough,” Kent answered.

“Because it’s Nathan Cleary?” Anasta asked.

“Because it’s Nathan Cleary yes,” Kent said.

The Panthers will now play the remainder of the regular season with Jarome Luai out with a knee injury and Cleary hit with a five match suspension.

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Categories
Australia

Destructive winds, thunderstorms forecast as cold front bears down on Victoria

Strong winds and thunderstorms bringing heavy rainfall to Victoria have prompted multiple weather warnings as a cold front bears down on the state.

The front is forecast to enter the state’s west later this evening and continue traveling east through Wednesday, bringing showers, thunderstorms and powerful north-westerly winds.

The State Emergency Service (SES) said the weather system “could be the most significant cold front of the winter” and urged residents to prepare early and remain wary of the risk falling trees posed.

Watch and Act alerts warning residents to prepare and take shelter indoors have been issued for areas including Central Highlands, Dandenong and the Great Dividing Range, as well as the Grampians in the state’s west.

Severe weather warnings of destructive winds have been issued for the Central, South West and North Central districts, and for parts of the East Gippsland, North East, West, South Gippsland and Wimmera districts.

The Bureau of Meteorology has forecast winds averaging 65 kilometers per hour, with likes of up to 100 kph in some elevated areas.

Winds described as “locally destructive” reaching up to 130 kph are predicted over Alpine peaks from early Wednesday morning.

Possible flooding in state’s north-east

Senior meteorologist Kevin Parkin said the wind was of most concern.

“When we talk about wind likes 90 to 100 kph, that’s capable of breaking branches off trees and also capable of pushing over weakened trees as well,” he said.

He said the peak of the tastes was expected to move through Melbourne between midnight and 4am.

“For many people through central parts, when you wake up on Wednesday morning, be wary of widespread vegetation that may have been stripped from trees across roads,” Mr Parkin said.

“From sunrise onwards, the risk really is in the eastern part of the state and it will continue there for much of the day.”

There are concerns heavy rain could cause flooding in some north-east Victorian catchments.

Mr Parkin said it was going to be a “windy week” and severe weather warnings would likely continue cropping up until a change forecast to move into the state from the south this weekend.

SES chief officer of operations, Tim Wiebusch, urged Victorians to tune into messages from emergency services over the next 24 hours to 48 hours.

He said motorists on the road tonight should be extra vigilant about the risk of debris such as fallen trees, branches and powerlines.

“We can’t stress enough that if you do come across floodwaters, do not attempt to drive through floodwaters,” he said.

“It may be the last decision you make.”

Mr Wiebusch said people should prepare for localized power and internet outages and secure loose items around their homes, such as outdoor furniture and trampolines.

Meanwhile WorkSafe issued a reminder for managers to ensure workplaces are prepared for the wild weather.

“Strong winds can turn unsecured objects into dangerous projectiles, including partly completed structures, roof sheets, scaffold plans, temporary fencing, and unsecured tools,” health and safety executive director Narelle Beer said.

“Loose objects must be removed or suitably secured so that they don’t blow away and become a danger to workers and the general public.”

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Categories
US

More rain, more bodies in flooded Kentucky mountain towns

LOUISVILLE, Ky. (AP) — Another round of rainstorms hit flooded Kentucky mountain communities Monday as more bodies emerged from the sodden landscape, and the governor warned that high winds could bring another threat — falling trees and utility poles.

Gov. Andy Beshear said the death toll rose to 37 while hundreds of people remained unaccounted for five days after one of the nation’s poorest regions was swamped by nearly a foot of rain. The water poured down hillsides and into valleys and hollows, engulfing entire towns. Mudslides marooned some people on steep slopes.

Beshear suggested many of the unaccounted for would be located when cellphone service resumes.

“When cell service gets back up, we do see a whole lot of people finding people they love and care about, so looking forward to those stories,” he said.

Radar indicated that up to 4 more inches (10.2 centimeters) of rain fell Sunday, and the National Weather Service warned that slow-moving showers and thunderstorms could provoke more flash flooding through Tuesday morning.

“If things weren’t hard enough on the people of this region, they’re getting rain right now,” Beshear said Monday at the Capitol in Frankfort. “Just as concerning is high winds — think about how saturated the ground has been.” The wind “could knock over poles, it could knock over trees. So people need to be careful.”

An approaching heat wave means “it’s even going to get tougher when the rain stops,” the governor said. “We need to make sure people are ultimately stable by that point.”

Chris Campbell, president of Letcher Funeral Home in Whitesburg, said he’s begun handling burial arrangements for people who died.

“These people, we know most of them. We’re a small community,” he said of the town about 110 miles (177 kilometers) southeast of Lexington. “It affects everyone.”

His funeral home recently buried a 67-year-old woman who had a heart attack while trying to escape her home as the water rose. Campbell knew her boyfriend of her well, he said.

On Monday, he met with the family of a husband and wife in their 70s, people he also knew personally. He said it’s hard to explain the magnitude of the loss.

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“I don’t know how to explain it or what to say, to be completely honest,” he said. “I just can’t imagine what they’re going through. I don’t think there really are words for it.”

Campbell said his 90-year-old grandmother lost the entire home where she’s lived since 1958. She managed to escape to a neighbor’s house with only some photos. Everything else is gone, he said.

More than 12,000 utility customers remained without power. At least 300 people were staying in shelters.

The floods were unleashed last week when 8 to 10 1/2 inches (20 to 27 centimeters) of rain fell in just 48 hours in parts of eastern Kentucky, southern West Virginia and western Virginia.

The disaster was the latest in a string of catastrophic deluges that have pounded parts of the US this summer, including St. Louis. Scientists warn that climate change is making such events more common.

Meanwhile, nighttime curfews were declared in response to reports of looting in two of the devastated communities — Breathitt County and the nearby city of Hindman in Knott County.

Breathitt County declared a countywide curfew from 10 pm to 6 am The only exceptions were for emergency vehicles, first responders, and people traveling for work.

“I hate to have to impose a curfew, but looting will absolutely not be tolerated. Our friends and neighbors have lost so much. We cannot stand by and allow them to lose what they have left,” County Attorney Brendon Miller said in a Facebook post.

Breathitt County Sheriff John Hollan said the curfew decision came after 18 reports of looting. He said people were stealing from private property where homes were damaged. No arrest have been made.

Hindman Mayor Tracy Neice also announced a sunset-to-sunrise curfew because of looting, television station WYMT reported. Both curfews will remain in place until further notice, officials said.

Last week’s flooding extended to parts of West Virginia and Virginia. President Joe Biden declared a federal disaster to direct relief money to flooded counties, and the Federal Emergency Management Agency was helping. Another relief effort came from the University of Kentucky’s men’s basketball team, which planned an open practice Tuesday at Rupp Arena and a charity telethon.

Coach John Calipari said players approached him about the idea.

“The team and I are looking forward to doing what we can,” Calipari said.

___

Associated Press writers Dylan Lovan in Louisville, Kentucky; Gary B. Graves in Lexington, Kentucky; Mike Pesoli airborne with the National Guard; Leah Willingham in Charleston, West Virginia; and Julie Walker in New York City contributed to this report.

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Categories
Technology

NVIDIA RTX 4070 Ti to Be as Fast as the RTX 3090 Ti with 7,680 Cores, 48MB L2 Cache, and 12GB GDDR6X Memory [Report]

NVIDIA will be offering some serious gaming firepower with its upcoming RTX 40 series graphics cards. Codenamed Ada Lovelace, these GPUs will be the first to crack the 100 TFLOPs barrier, thanks to a brand new microarchitecture and process node. The top end AD102 die is set to feature a core count of 18,432 alongside 96MB of L2 cache and a 384-bit bus. The memory buffer will vary from 24GB to 48GB depending on the SKU. The TGP may exceed 600W+ when fully enabled (RTX 4090/4090 Ti).

GPU GA102 AD102 RTX 4090 AD103 RTX4080 AD104 RTX4070
Arch Ampere Ada Lovelace Ada Lovelace Ada Lovelace
Process Sam 8nm LPP TSMC 5nm TSMC 5nm TSMC 5nm
CPG 7 12 eleven 7 7 5 5
TPC 42 72 64 42 40 30 28
SMS 84 144 128 84 80 60 56
shaders 10,752 18,432 16,384 10,752 10,240 7,680 7,168
PT 37.6 ~100 TFLOPs? 90 TFLOPs? ~50 TFLOPs 47 TFLOPs? ~35 TFLOPs 33 TFLOPs?
Memory 24GB GDDR6X 24GB GDDR6X 16GB GDDR6X 10GB GDDR6
L2 Cache 6MB 96MB 72MB 64MB 48MB
Bus Width 384-bit 384-bit 256-bit 160-bit
TGP 350W 600W 450W 450W 420W 300W 300W
Launch Sep 2020 September 22? September 22? September 22?

Moving down the stack, we have the AD103 and AD104 which will power the RTX 4080 and 4070/4070 Ti, respectively. The former will feature 10,240 shaders alongside 16GB of GDDR6X memory across a 256-bit bus and ~60MB of L2 cache. It will have a TGP of 400W+. It should have a single-precision performance rating of 50-60 TFLOPs, roughly half as much as the RTX 4090.

Finally, we have the AD104 core which will form the backbone of the more mainstream RTX 4070 and 4070 Ti. The former will leverage a partially disabled die with 7,169 cores and a 160-bit bus paired with 10GB of GDDR6 memory and 40-44MB of L2 cache. The Ti will feature the fully enabled implementation of the AD103 die with 7,680 shaders, 48MB of L2 cache, and 12GB of GDDR6X memory.

According to Kopite7kimi, the RTX 4070 Ti will be as fast as the RTX 3090 Ti, the fastest GPU on the planet right now. It’ll have a TGP of 400W and enable top-notch 4K gaming, maybe even with ray-tracing enabled. It’s worth remembering that the RTX 4090/4090 Ti will be twice as fast as (if not more) the RTX 3090/3090 Ti with several-fold higher ray-tracing performance. The RTX 4080 should be ahead of the RTX 3080 by at least 60-70%.

the RTX 4090 is set to launch next month with the RTX 4080/4070 landing either during the holiday season or in the first quarter of 2023.

Categories
Sports

finals predictions, Carlton Blues fixture, run home, loss to Adelaide Crows was insipid says Mark Robinsion

Carlton’s “insidious” display against Adelaide on the weekend suggested it had “pop-up problems everywhere”, according to AFL 360 co-host Mark Robinson, ahead of a fight to remain in the top eight.

But Brownlow Medalist Gerard Healy believes there’s been an overreaction to the loss, claiming some Blues fans “want to death-march their team to ninth spot on the ladder”.

Carlton suffered a shock 29-point loss to the Crows on Saturday night, leaving Michael Voss’ side vulnerable inside the top eight with three tricky home and away matches left. The Blues need one more win to guarantee them a finals spot, but games against top-four sides Brisbane, Melbourne and Collingwood will make it no easy task.

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“It was really insipid. Most Carlton people would say that,” Robinson told Fox Footy’s AFL 360 when analyzing the Blues’ performance against Adelaide

“Adelaide, fantastic performance… But this mob (the Blues) let themselves down badly and they let themselves down in a couple of areas.

“They’ve got pop-up problems everywhere. I describe it like a water park where the water keeps on popping up … it’s like Vossy’s saying: ‘We’ve got a problem there, problem there, problem there.’

Crows surprise Blues at Adelaide Oval | 01:31

“They had problems on the weekend in defence, they had problems turning it over, they’ve got two players getting 40 (disposals) and only one having impact, the forward line’s struggling – Harry (McKay) is not marking the ball, the smalls aren’t kicking goals – and now we’re saying Jack Silvagni didn’t play and it had a psychological impact on the club. Well if it did, how fragile is the team if Jack’s not playing? That’s just crap.

“They had their chance and they blew it badly.”

Co-host Gerard Whateley said it was “a significant misstep” by the Blues.

“If you missed the eight from 8-3, it would be bitterly disappointing for all the work that’s gone into it,” Whateley told AFL 360.

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“I think we accept they’re a futures stock who there might’ve been a moment for now and that’s going to play a major role in thwarting the capacity to do that. But don’t be missing your spot from here.

“I don’t know whether they can take care of their business before then, but you have a sneaking glance at Carlton and Collingwood on that last Sunday of home and away football and if the Blues are scratching for it at that stage to book themselves a place … maybe they’re good enough to do it before then, but they’ll have an angry Lions to deal with (this weekend).”

Robinson added: “Part of building your future is playing a final at the MCG in front of 80,000. Even if you get beaten, it’s getting out there and building up and running out there and the expectation’s rally high and the pressure is hot – that’s part of the building. You can’t do that sitting on your ass after Round (23) when you were 8-3 at the half.”

Harry McKay of the Blues. Picture: Sarah ReedSource: Getty Images

Speaking on 3AW’s sports day on Monday night, Healy said he’d noticed a lot of negative feedback from Blues fans after the loss – feedback that didn’t truly reflect where the Blues were at.

“Yes, it was a horrible loss on the weekend, but the negative reaction to it for mine at this stage has been over the top,” he said on Sportsday.

“It seems Blues fans, or many of them, want to death-march their team to ninth spot on the ladder, despite being so good for most of the year and doing so with a lot of injuries.

“I reckon the team is entitled to a mulligan – and they got it on the weekend – and a bit more belief from those who have already written them off.

“It’s been a tough journey over the last 10 years for the Blues fans and they’re getting used to disappointment too much. But I wouldn’t be writing them off just at the present time.”

Healy said Carlton’s best footy was still at the top-end of the competition. He said the returns of George Hewett and Jack Silvagni, as well as a form lift from Harry McKay, should help turn things around.

“So much to think about for Michael Voss, but at this stage it’s still glass three-quarters full for me for the Blues, not the totally empty schooner or pot that too many Carlton fans appear to be drinking from this weekend,” Healy said .

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Categories
Australia

Interest rates: RBA raises cash rate by 50 basis points to 1.85 per cent

For the fourth consecutive month the Reserve Bank of Australia (RBA) has hiked interest rates as inflation runs rampant.

At 2.30pm during the RBA’s monthly meeting, it increased Australia’s interest rate by 50 basis points, or by 0.5 per cent.

The decision brought the cash rate from 1.35 per cent to 1.85 per cent, largely in line with economist’s predictions.

This marks the first time the RBA has lifted the rates for four months in a row since the introduction of the two to three per cent inflation target in 1990.

This follows last week’s increase in annual inflation, which hit 6.1 per cent, which was its highest level in 21 years since 2001.

Tuesday’s rate rise means those paying off the average home loan of $500,000 will need to cough up an extra $140 a month.

And the August hike isn’t expected to be the last, with economists forecasting that interest rates could peak up to two per cent by the end of the year.

As soon as news of the interest rate rise broke, Treasurer Jim Chalmers weighed in and acknowledged it was a tough time for Australian borrowers, saying the announcement would “sting”.

“It’s another difficult day for Australian homeowners with a mortgage,” he said.

“The independent ReserveBank has just announced its decision to increase interest rates by another 0.5 per cent, bringing the cash rate to 1.85 per cent.

“Australians knew this was coming, but it won’t make it any easier for them to handle.

This cycle of interest rate rises began before the election in response to inflationary pressures that began accelerating at the beginning of this year.

“Average homeowners with a $330,000 outstanding balance will have to find about $90 a month more for repayments as a consequence of this decision today, on top of around $220 extra in repayments since early May.

“For Australians with a $500,000 mortgage, it’s about an extra $140 a month, in addition to the extra $335 they’ve had to find since early May.

“As I said, Mr Speaker, this decision doesn’t come as a surprise. It’s not a shock to anybody, but it will still sting.

“Families will now have to make more hard decisions about how to balance the household budget in the face of other pressures like higher grocery prices and higher power prices and the costs of other essentials.”

‘Misleading’: Calls for bank boss to resign

Ahead of the interest rate rise, there were growing calls for the RBA’s board and its governor, Philip Lowe, to resign after a series of missteps.

Chief among them was the promise that interest rates wouldn’t rise until 2024 which one top economist said was “misleading” for borrowers.

Critics also pointed out that the rapid rate rises could inadvertently lead to a recession while at the same time inflation is running rampant.

Warren Hogan, chief economist at both ANZ and Credit Suisse, told The Daily Telegraph that the RBA was guilty of some “pretty bad errors” in recent months.

The RBA lowered the cash rate to 0.1 per cent at the end of 2020 amid the Covid-19 pandemic – the lowest it had ever been – and throughout the pandemic said they didn’t plan on raising the cash rates until 2024.

When it lifted the cash rate for the first time in May and then every month since, Mr Hogan said it was “misleading people, basically”.

He also said Australia’s central bank had taken on risky strategies including spending lots on insurance and sinking funds into a bonds program which had not paid off.

Mr Hogan, who was also the former principal adviser to federal treasury, said: “It’s unforgivable. I think they should resign – the whole board.”

Mr Lowe “should have the character to stand down,” Mr Hogan added.

RELATED: Find out how much the rate rise will cost you

Mr Lowe said the cash rate would remain at its record low of 0.1 per cent until at least 2024, but the rapid rise in inflation this year – caused in part by Russia’s war in Ukraine and supply chain issues on home soil – prompted the monthly hikes .

It comes as Australia’s cost of living crisis is worsening, making borrowers even more cash-strapped than usual.

In the last quarter, transport costs rose 13.1 per cent as the price of fuel rose to record levels for the fourth quarter in a row.

Meanwhile, grocery shopping is also causing hip pocket pain, with Australians outraged to find lettuce heads selling for $10 a pop and capsicums marked at $15 for a kilo.

Interest rates in Australia reached an all time high of 17.5 per cent in January 1990. Since then, they have averaged 3.93 per cent.

Before this year, the last time the RBA hiked up rates was in 2010. It has only been going down ever since.

As a result, more than one million home borrowers have never experienced an increase in mortgage rates, because they bought a home after 2010.

The official cash rate has been at a record low of 0.1 per cent since November 2020 in response to the Covid-19 pandemic until May 2022.

– with NCA NewsWire

Read related topics:Reserve Bank

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US

Evacuations ordered for Elmo Fire

UPDATE 9:55 pm August 1, 2022

“The fire has turned and is running hard.”

That’s what Lake County Sheriff Don Bell told MTN News Monday afternoon after the Elmo Fire took off near Dayton.

The fire, which started Friday evening and has burned thousands of acres north of Highway 28 between Elmo and Hot Springs, forced dozens more to evacuate Monday, destroyed one structure, and shut down a portion of Highway 93.

The evacuation notices include the Lake Mary Ronan corridor and Chief Cliff Estates near Black Lake Road. That area was in the most danger, according to Bell.

“The houses in the fire line, where the fire is running, those folks are all evacuated,” he said.

Emergency shelters for evacuations have been established at Polson High School and Somers Middle School. You can call 800-272-6668 to request their services.

But it’s not just evacuations. The smoke from the fast-moving Elmo Fire forced officials to close the section of Highway 93 between Elmo and Dayton. Bell was urging drivers to use Highway 35 on the eastern side of Flathead Lake instead.

With winds driving the fire, Northern Rockies Team 7 public information officer, Sara Rouse, says conditions changed rapidly Monday.

“This afternoon we had some winds come out of the west pushing the fire east and northeast from what we saw yesterday, and along with those winds we were unable to have our aircraft up at that time so it just sort of created this perfect culmination for some pretty active fire.”

Fire crews are attacking the fire’s edge, Rouse said, utilizing aircraft as the number of personnel working the fire continues to grow.

“Yesterday evening we had 293 people,” she said. “Again, there are more resources rolling in throughout the day so that number will climb up tomorrow morning.”

On Monday night, a lightning holdover in the Mission Mountains started a new fire.

CT Camel with CSKT Division of Fire told MTN the Red Horn Fire is high in the Missions. While the fire is visible from St. Ignatius, it’s about an acre in size and not threatening any structures.

Camel, however, had a message for the public.

“We want people to be safe out there and make sure they’re safe with their outdoors and recreating,” he said. “We’re in very high fire danger. Very close to extreme. We’d like people to be careful.”

UPDATE 6:13 pm August 1, 2022

The Montana Department of Transportation reports Highway 93 is closed from Elmo to Dayton due to fire activity in the area.

It’s unknown how long the road closure will be in place.

Sheriff Don Bell tells MTN News contributor Maritsa Georgiou the fire is within 200 feet of Highway 93.

The Red Cross set up a shelter at Polson High School, 1712 2nd St. West.

Services are free.

People also can request Red Cross services by calling 800-272-6668.

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UPDATE: 4:52 pm – August 1, 2022
At approximately 2 PM, Northern Rockies Incident Management Team 7 recommended the evacuation of the Lake Mary Ronan corridor to Lake County Sheriff’s Office.

The Team is working with the Montana Department of Transportation on the use of pilot cars on Highway 93 between Elmo to Rollins due to poor visibility.

The fire has turned and is running hard, according to Lake County Sheriff Don Bell.

Elmo Fire Monday

Sean Wells

fire elmo

The new evacuations Monday afternoon include the Lake Mary Ronan area – about 30 to 40 homes.

Sheriff Bell tells MTN News Chief Cliff Estates is the most in danger – about eight homes in the area have been evacuated.

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UPDATE: 4:45 pm – August 1, 2022

Lake County Sheriff Don Bell confirms they have Lake Mary Ronan Road closed and are doing more evacuation to the NE of the fire.

Residents in this area are strongly encouraged to evacuate.

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UPDATE: 4:15 pm – August 1, 2022

Lake County Sheriff Don Bell tells MTN News contributor Maritsa Georgiou that he is currently going door to door evacuating in Chief Cliff Estates.

He says the Elmo fire switched direction and is now burning very fast to the east.

The Montana Department of Transportation reports travelers can expect intermittent blockage until further notice between mile marker 77 and mile marker 81 on US Highway 93 near Dayton.

fire elmo

Rodney Sharkey

fire elmo

MDT says no parking is allowed along the highway for fire viewing. The roadway needs to remain open for emergency vehicles.

Stay with KPAX for updates on this developing story.
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ELMO- Evacuations have been ordered for areas near the Elmo wildfire Monday afternoon.

Evacuations have been ordered for Black Lake Road to US Highway 93.

The Elmo fire blew up Monday afternoon moving to the east.

The Elmo Fire has grown to nearly 13,000 acres as it burns in the Elmo area. It sparked late Friday night.

Officials say the cause of the fire is under investigation.

This is a developing story. Stay with KPAX for updates.