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Expert Warns Against Using Extension Cords for High-Power Appliances to Prevent Fire Hazards

Expert Warns Against Using Extension Cords for High-Power Appliances to Prevent Fire Hazards

A recent advisory highlights the dangers of using extension cords with high-power appliances, emphasizing the risk of fire hazards. According to Paul Martinez, owner of Electrified NYC, devices such as space heaters, air fryers, microwaves, and refrigerators should not be plugged into extension cords due to their high wattage and constant operation. These appliances can draw significant power, potentially leading to overheating and fires if not connected directly to a wall outlet. The advisory also warns against 'daisy chaining' extension cords, which can cause circuits to overheat. The Consumer Product Safety Commission has reported that portable space heaters alone were involved in 1,700 fires annually between 2017 and 2019. Martinez stresses that extension cords should only be used for electronics, not appliances, to avoid these risks.
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Argentina's railway privatization dreams face long haul ahead

Argentina's railway privatization dreams face long haul ahead

By Lucila Sigal BUENOS AIRES, Dec 8 (Reuters) - Argentina, a major global food supplier, plans to supercharge its grain and mining exports with privatization and an ambitious modernization of its aging railway network, which industry leaders say will halve freight costs from regions far from ports.
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Globalization and Trade Wars: Challenges and Implications for Economic Models

Globalization and Trade Wars: Challenges and Implications for Economic Models

The article discusses the complexities of globalization and trade wars, focusing on the economic models that underpin these phenomena. Michael Pettis, an economist, highlights the challenges faced by countries like China, where high investment rates do not necessarily translate into proportional GDP growth. This discrepancy is attributed to nonproductive investments that inflate GDP figures without corresponding economic value. The discussion extends to the impact of tariffs and trade policies, suggesting that blanket tariffs might be more effective than sectoral ones. The article also examines the historical context of countries like Japan and Brazil, drawing parallels to current economic conditions in China.
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Morning Bid: Futures try for a Fed fait accompli

Morning Bid: Futures try for a Fed fait accompli

A look at the day ahead in European and global markets from Wayne Cole. Well, Fed decision week is finally upon us and it's shaping up to be one of the most vexed meetings in recent memory. Of 108 analysts polled by Reuters only 19 tipped a hold with the rest for an easing on Wednesday. 
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Nebius Group N.V. Faces Volatility Amid AI Infrastructure Deals and Valuation Concerns

Nebius Group N.V. Faces Volatility Amid AI Infrastructure Deals and Valuation Concerns

Nebius Group N.V. Faces Volatility Amid AI Infrastructure Deals and Valuation Concerns
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Fed could find itself in a bind as it sets the stage for Powell's successor

Fed could find itself in a bind as it sets the stage for Powell's successor

By Howard Schneider WASHINGTON, Dec 8 (Reuters) - The U.S.
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Tom Hicks, Former Owner of Dallas Stars and Texas Rangers, Passes Away at 79

Tom Hicks, Former Owner of Dallas Stars and Texas Rangers, Passes Away at 79

Tom Hicks, a prominent Dallas businessman and former owner of the Dallas Stars and Texas Rangers, has died at the age of 79. Hicks, who was also involved in the ownership of an English Premier League soccer team, passed away peacefully in Dallas surrounded by family. During his tenure as owner of the Dallas Stars from 1995 to 2011, the team achieved significant success, including winning the Stanley Cup in 1999. Hicks also owned the Texas Rangers from 1998 to 2010, leading them to multiple division titles and a World Series appearance. Beyond sports, Hicks was influential in the private equity sector, co-founding Hicks & Haas and later Hicks, Muse, Tate & Furst, which became a major private equity platform. He also served on the University of Texas's board of regents, contributing to the establishment of UTIMCO, the largest public university endowment in the U.S.
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Economist Calls for Broader Healthcare Solutions Beyond ACA Subsidies

Economist Calls for Broader Healthcare Solutions Beyond ACA Subsidies

In a recent discussion on NPR, Professor Craig Garthwaite from Northwestern University, co-author of a paper by the Aspen Economic Strategy Group, emphasized the need for broader solutions in the healthcare debate. The paper, titled 'Coverage isn't Care: An Abundance Agenda for Medicaid,' argues that the current focus on subsidies within the Affordable Care Act (ACA) debate is insufficient. Garthwaite suggests that more comprehensive reforms are necessary to enhance the efficiency and affordability of healthcare on a larger scale.
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Covid-19 Support Programs in the UK Result in £10.9 Billion Fraud and Error, Report Reveals

Covid-19 Support Programs in the UK Result in £10.9 Billion Fraud and Error, Report Reveals

A report is set to reveal that Covid-19 support programs in the UK resulted in nearly £11 billion in fraud and error. The Covid Counter Fraud Commissioner, Tom Hayhoe, will present his findings to Members of Parliament, highlighting how fraudsters exploited the rapid rollout of financial support schemes during the pandemic. These programs, initiated by the previous Conservative government, included furlough wage subsidies, 'bounce-back' loans, and the Eat Out to Help Out initiative. While these measures were credited with supporting the economy during lockdowns, the lack of anti-fraud controls and eligibility checks led to significant financial losses. The report underscores the high level of fraud risk accepted during the rushed implementation of these schemes.
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Greece and Spain Introduce Digital Nomad Visas, Easing Relocation for Remote Workers

Greece and Spain Introduce Digital Nomad Visas, Easing Relocation for Remote Workers

Greece and Spain have introduced digital nomad visas to attract remote workers, offering new opportunities for Americans seeking to live and work abroad. Greece provides two options: a one-year digital nomad visa, which must be applied for from the applicant's home country, and a two-year digital nomad residence permit, which can be obtained once in Greece. Applicants need to demonstrate a monthly income of at least €3,500, have health insurance, and show proof of accommodation. Spain, on the other hand, launched its digital nomad visa in 2023, allowing freelancers, self-employed individuals, and remote employees to apply for a one-year visa from the U.S. or a three-year permit from within Spain. The process in Spain is reportedly faster when applying from within the country. These initiatives are part of a broader trend in Europe to facilitate the relocation of remote workers by simplifying visa processes.
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Nomura joins global brokerages in forecasting Fed rate cut this week

Nomura joins global brokerages in forecasting Fed rate cut this week

Dec 8 (Reuters) - Nomura expects the U.S. Federal Reserve will deliver an interest rate cut at this week's policy meeting, joining global peers in reversing their earlier expectations of the central bank holding rates amid dovish signals.
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European CEOs Favor U.S. Investment Over Europe Amid Economic Concerns

European CEOs Favor U.S. Investment Over Europe Amid Economic Concerns

European CEOs Favor U.S. Investment Over Europe Amid Economic Concerns