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Trump’s Apple threat would put every iPhone on Earth at risk – Yahoo Finance
Posted: January 18, 2020 at 10:29 am
President Trump is ratcheting up the pressure on Apple (AAPL) to unlock two iPhones used by the suspect in a shooting at the Pensacola Naval Air Station in December.
On Wednesday, Trump tweeted, "We are helping Apple all of the time on TRADE and so many other issues, and yet they refuse to unlock phones used by killers, drug dealers and other violent criminal elements."
The issue, however, is far more complicated than Apple simply unlocking the suspected shooter's iPhones. Thats because creating a so-called "backdoor" for a single iPhone instantly opens every other iPhone on Earth to the risk of attack. And even though Apple relies on Trump's tariff exceptions, the company is unlikely to change its mind.
While Apple has refused to unlock the phones used by accused Pensacola shooter Mohammed Alshamrani, the company has said it has given the government access to Alshamrani's iCloud account, and other documentation.
Why not unlock the iPhones then?Because every iPhone runs on Apple's iOS software. And if Apple were to attempt to unlock the phones used by Alshamrani, the company would have to purposely break iOS, creating a way to access all data stored on the devices.
But since the iPhones used by Alshamrani are, more or less, the same as those owned by you or me, any exploit Apple creates to unlock his phones, would work just as well on our phones.
"It's similar to, you know, why don't we just make it so that every single combination lock in the world that's made, the police have a combination they can input to get themselves into any lock," explained Justin Cappos, professor of computer science and engineering at the NYU Tandon School of Engineering.
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"And why don't they have that? Because as soon as criminals figure out how to use that, then you're in trouble."
That's where the idea of some kind of "backdoor" falls flat. There isn't a single method that law enforcement can use to access all iPhones, or any devices for that matter, that will stay secret for long.
"Many people in the security community have expressed serious concerns about introducing a backdoor, as it is very difficult to monitor its use and contain the effects of any leaks e.g., someone leaking access to the backdoor," explained Petros Efstathopoulos, global head of research, NortonLifeLock Research Group.
In the world of cybersecurity criminals, hackers, and other malicious actors are constantly probing every piece of software they can find for weaknesses they can exploit to access your data, or take over your device.
Companies like Apple are, at the same time, continuously working to patch any potential flaws they find in their software to harden their defenses. The iPhone is especially secure, because Apple tightly controls its software compared to say Android, macOS, or Windows devices.
But because flesh and blood humans craft the operating systems we use, they are bound to introduce errors. Hackers then create viruses and malware, etc. that can exploit those errors to crack into your computer or other device.
And no matter how hard tech companies work to keep their devices and software safe, they'll always be one step behind the bad guys.
Purposely introducing a weakness into Apple's iOS, then, would make it all the easier for hackers to break open any iPhone they want.
"Apple is being very smart to say we don't want our phones to be hackable," Cappos said. "We don't want our phones to be weak. We want to protect someone who blogs about what's happening in Hong Kong. We want to protect anyone who uses our phone to have the right to privacy."
There's also the question of how foreign governments could abuse iPhone access, Cappos said.
"If you really, really trust your government in the United States and whoever is in power, you may be okay with law enforcement having a way to do this. But how do you handle situations when the Chinese government is asking for this? How do you handle situations when the Iranian government is asking to use this backdoor?"
Trusting the U.S. government's ability to keep the keys to every iPhone on Earth safe isn't a wise move either if past is precedent.
Take for instance, the National Security Agency's EternalBlue Windows exploit. The tool, developed by the NSA, was used to gain access to and take remote control of Windows PCs.
But EternalBlue became public in 2017 when a group calling itself the Shadow Brokers stole it from the agency, and released it to the world. From there, it was used to create the WannaCry virus and a slew of other pieces of malware, which continue to wreak havoc across the globe.
Importantly, EternalBlue was a tool the NSA developed by taking advantage of a then-unknown weakness in Windows. Now imagine what would happen if Apple purposely created a weakness in iOS, and you begin to understand why it could be such a dangerous move.
Every hacker would instantly begin poking at the operating system in an effort to access that weakness and attack as many iPhones as possible.
"As demonstrated by many cases in the past, if confidential information such [as] instructions or code allowing access to the backdoor mechanism is leaked, then everyone using that particular phone brand may be attacked," explained Efstathopoulos.
"This has obvious legal implications as well as practical implications on peoples lives, including physical safety."
What's more, the government has already proven it can break into iPhones without Apple's help. After the company refused a court order to give the Department of Justice a means to unlock the iPhone used by one of the San Bernardino shooters in 2016, the FBI announced it was able to break into the phone using a third-party tool.
Apple has made significant security improvements to iOS since then, which likely killed the avenue of attack used by that tool, but if the government was able to use a third party before, it stands to reason that it could do so again.
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Curt Schilling doesn’t deserve to be in the baseball Hall of Fame – Yahoo Sports
Posted: at 10:29 am
Baseball Hall of Fame voters have had their morality tested in recent years. The same writers who wrote lovingly about the home-run surge in the 90s now have to grapple with the idea of voting suspected steroid users like Barry Bonds and Roger Clemens into the Hall of Fame. Or, in Manny Ramirezs case, voters have to decide whether multiple positive tests should keep out one of the best hitters of his era.
But of all those players, none deserves more scrutiny than Curt Schilling. On a ballot filled with suspected and confirmed steroid users, Schilling is the most controversial player up for induction.
The baseball case for Schillings induction is easy. Over 20 seasons, Schilling was one of the most accomplished pitchers in baseball. He was a six-time All-Star, three-time World Series winner and arguably the best postseason pitcher of his era. By Jay Jaffes JAWS metric, Schilling did enough on the field to warrant a spot in the National Baseball Hall of Fame.
Despite all that, Schilling is the least deserving of the candidates to be seriously considered for the honor. The 53-year-old has spent the last few years rapidly disqualifying himself from the conversation by spreading hateful speech and dangerous rhetoric.
And yet, Schilling still finds himself trending in the right direction. As of Friday, Schilling has appeared on 79 percent of 2020 ballots, according to Ryan Thibodauxs fantastic Baseball Hall of Fame ballot tracker. While Schillings percentage will decline once private ballots get released, this is the best chance Schilling has at being inducted into the Hall.
His induction would be an egregious mistake. A vote for Schilling is confirmation that none of the abhorrent language hes pushed since his retirement matters. Schilling isnt held accountable for spreading hate speech or dangerous views. Instead, he gets rewarded with the largest possible platform and the most prestigious title in baseball. Its a slap in the face to the marginalized groups Schilling has targeted over the past couple years. It tells those communities baseball doesnt care about them, and turns those fans away from the game. A vote for Schilling confirms that baseball will not only accept, but reward horrible, hateful people.
While Schilling had been outspoken about his political beliefs during his playing career, he began to veer in a far more extreme direction once he retired and started working for ESPN. Schilling was suspended by the network in August 2015 after tweeting out a graphic that compared Muslims to Nazis. He was fired by ESPN in April 2016 after sharing a transphobic meme on his Facebook page. Schilling had been warned by ESPN multiple times that his conduct on social media violated the networks policy.
Months later, Schilling shared another tweet in which he applauded a shirt advocating for journalists to be hung. The following year, Schilling then working for Breitbart interviewed congressional candidate and white nationalist Paul Nehlen. Schilling agreed with and endorsed some of Nehlens opinions during the interview, which Breitbart quickly deleted in an effort to distance itself from Nehlen.
For a brief moment, it looked as though Schillings comments would doom him. Months after Schilling endorsed the journalists tweet, he lost support in his quest for the Hall of Fame. Schilling received 45 percent of the vote in 2017, a sign that there would be consequences for his words.
That was short-lived. Schilling saw his voting percentage rise to 51.2 percent in 2018 and 60.8 percent in 2019. Those increases came after Schillings podcast with Nehlen. The Hall of Fame voters were willing to punish Schilling when they felt slighted, but managed to look the away when others were attacked. Even more voters have taken that approach this time around.
Those who continue to cast votes for Schilling justify that vote in a couple ways. They argue that men with histories of questionable off-the-field behavior are already in the Hall of Fame, ignoring the fact that they dont have to keep that trend alive. They argue that they cant punish players for what they did off the field despite invoking the character clause to keep out suspected steroid users. But when more serious issues come into play, voters suddenly forget they can invoke the character clause. You only see voters use it when discussing Bonds alleged steroid use, not his multiple domestic-violence accusations. The character clause only gets used when voters find it convenient.
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The voters who use those justifications to support Schilling are only doing so to rationalize a bad decision. If they can find a loophole that allows them to conveniently ignore all the awful things Schilling has said, they dont have to grapple with the consequences of making him a Hall of Famer.
That line of thinking is, of course, deeply flawed. Voters cannot simply put Schilling in the Hall of Fame and then ignore everything that happens once hes there. Getting into the Hall of Fame is the highest honor a baseball player can achieve. Upon induction, that player is celebrated by thousands, gives an inspirational speech about his life and is forever immortalized in Cooperstown. It tells fans Schilling is a player deserving of adoration.
On the off chance Schilling doesnt make it this year, hes set up to eventually receive the honor. Players approaching the final years of eligibility usually gain votes in a last-ditch effort to get them in before they fall off the ballot.Schilling is in his eighth year of eligibility. Candidates remain on the ballot for 10 years before they lose eligibility.
Schilling doesnt deserve that push. It would ignore all the vitriol and hate hes pushed the past couple years. It taints the Hall of Fame, making it a worse, less inclusive place.
Voters can continue to rationalize their vote by telling themselves nothing Schilling has done away from the field matters, but they know thats not true. The hatred Schilling has spread matters more than anything he ever accomplished on a baseball field.
Every vote that pushes Schilling close to induction is complicit in both normalizing and rewarding his reprehensible behavior.
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A.J. Styles on 2016 WWE debut: ‘It couldn’t have been any better’ – Yahoo Sports
Posted: at 10:29 am
When it comes to professional wrestling, surprises truly unexpected, jaw-dropping events are hard to come by. Over the past 25 years, fans of the medium can most likely count on one hand the moments where they were genuinely left in shock and awe by what transpired in front of them.
The major exception to that notion comes every January as WWE holds arguably its second-biggest pay-per-view of the year, the Royal Rumble.
Beginning in 1988, the event was built around an over-the-top-rope battle royale between 30 men (Female performers have sporadically appeared in the Rumble and, starting in 2018, received their own version of the match).
For more than three decades, the matchs structure has remained mostly unchanged.
The match starts with two entrants and at regularly timed intervals, another participant enters the ring. There is no limit to the number of participants in the ring at once and the only way to be eliminated is to be tossed over the top rope and having both feet touch the ground this rule results in some of the most fun moments in the matchs history, just ask Kofi Kingston.
Simply put, at some point every year the match becomes controlled chaos, with the winner earning a championship opportunity at that years WrestleMania.
The beauty of the Royal Rumble is that WWE purposely leaves some of the matchs participants unnamed. The air of unpredictability has resulted in several shocking moments, mostly in the form of injured stars making their triumphant return, a la John Cena in 2008 and Edge in 2010.
In January 2016 however, the Royal Rumble match featured a much different type of surprise, the third participant in the match wasnt a superstar returning from injury nor was he a talent that was working with the then-developmental NXT brand.
The entrant was A.J. Styles.
You have to think about it all, Styles told Yahoo Sports. Not only is it one of the biggest pay-per-views in WWE, its WWE in general. It was my first time under contract, working for a company that is easily the biggest in the world. Was I a little nervous? Oh yeah. Was anybody going to remember A.J. Styles? I had worked at this little place in Orlando, I was in Japan a lot, so I was a little nervous because I didnt know what to expect.
To hardcore wrestling fans, Styles coming to WWE was viewed as a near impossibility. At 38 years old, Styles was a well-known and respected veteran of the industry. Its rare someone with the stature and reputation Styles had garnered doesnt find him or herself in WWE at some juncture in their career, but to that point the Georgia native had worked primarily with competitors TNA and New Japan Pro Wrestling.
Styless celebrated run with NJPW had just ended earlier that month and, while it was known he was leaving the promotion, booking pre wrestlings hottest free agent into the Royal Rumble match needed to be something that was pulled off perfectly and covertly.
In retrospect, having Styles enter in one of the earliest possible positions made absolute sense. Fans who knew him would instantly become more engaged in the match, and those who were unfamiliar with his work were able to get a close-up look before the ring became too crowded.
I was in a position that gave me the opportunity to really shine, Styles recalled. When I walked out for the Royal Rumble, there was only one man in the ring. I went No. 3 and the spotlight was on me. The fans had no idea whose music was playing and then when they figured out who it was, it was even more exciting because they had no idea what would happen and they had no idea that AJ Styles was coming to WWE.
Styles was also able to get his own anxiousness out of the way early.
It couldnt have been any better. Once I step into the ring, those jitters and that nervousness goes away, that doesnt exist anymore. Walking down the aisle, yes, youre still feeling it.
Despite this being Styless first match with WWE in his career, there was little to no learning curve for the veteran star when it came to the technical aspect of the job. Traditionally, professional wrestlers will call the match while in the ring. This process entails one of the athletes essentially choreographing the match in real time. The participants will always know the outcome and will discuss major spots, but its on them to figure out how to get there.
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In the Royal Rumble, where there can be more than a dozen people in the ring at once, this is a near impossibility.
The way the match plays out is a little of both [forms of planning], Styles said. I had an idea of what was going to happen and what we were going to do, but once you get into that match, there are so many guys in there, you dont know who you are going to face when youre in there. Its unexpected. I had been in the business for 16, 17 years at that point so I was comfortable, all things considered.
Styles would last nearly 29 minutes in his first Royal Rumble, good for the 4th longest time in the hour-long match. It was his introduction to WWE and, while he didnt earn the spot in the main event of WrestleMania that April, Styles quickly skyrocketed to stardom in Vince McMahons company.
The three Royal Rumble events since his debut, Styles has either been WWE champion or challenged for the top title in the company, meaning he hasnt taken part in the pay-per-views signature match. This year, nearly four years to the day since his surprising debut, Styles gets another shot at winning the iconic match.
A.J. Styles is seen during an episode of "Monday Night Raw" on January 13, 2020. (Photo courtesy of WWE)
For me, even right now as we speak, Im excited because Ive only done one in my career in WWE, Styles said. I think it would be cool to be in it again because of the stature of the pay-per-view. We know WrestleMania is the biggest one, but which one comes second? I dont know. I find that more people think that the Royal Rumble is second. Its a big deal.
Royal Rumble takes place on January 26 at Minute Maid Park in Houston and can be seen on the WWE Network starting at 7pm ET.
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Baby dies after eating dishwashing powder while mum went on partying spree – Yahoo News Australia
Posted: at 10:29 am
An evil mother has confessed to murdering her three year old daughter by leaving her home alone while she went on a week-long partying spree.
Maria Plenkina, 21, tragically deserted her infant daughter Kristina who was so hungry she tried to eat washingpowder, a Russian court has heard.
The girl was found naked having starved to death in a cold room in a rubbish-strewn apartment having eaten the small amount of food - yoghurt, chicken and sausages - her mother had left her.
Before leaving for her party week coinciding with Valentines Day last year, Plenkina turned off the water in the flat.
The girl's body was found by her grandmother Irina Plenkina, 47, whohad cometo wish her a happy third birthday.
The mother - branded evil by neighbours - now faces from eight to 20 years in jail for the cruel murder of her child.
Maria Plyonkina with baby Kristina. Source: Australscope
A criminal investigation into murder with extreme cruelty proved that Plenkina locked her daughter in the flat from 13 February and only returned on 20 February last year.
Psychiatrists found that she was sane and fully aware of her actions, the court was told.
The mother stayed with friend Anastasia Kurpina who said Plenkina lied to her that Kristina was being cared for by a friend.
Anastasia told investigators that she paid for her friends daily visits to nightclubs and cafes, buying her alcohol.
Not long before her week-long spree, Plenkina had split with her boyfriend.
Confessing to murder but saying she did not intend to kill her, Maria said she had left food for her child but gave contradictory accounts and could not say much many sausages.
Sobbing as she appeared in court, she said: I never wanted her to die.
A committee spokeswoman said: The girl's mother said that she deliberately closed the door of the apartment and left the house.
She was having a good time with friends and was on a spree.
Maria Plyonkina is facing 20 years in jail. Source: Australscope
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The childs distraught grandmother said she could have cared for the child if only she knew her daughter was leaving.
She lied to me that everything was fine, she said. She lied to everyone.
I never thought that Maria could do such a thing
If only I had had spotted something was wrong, I would have taken the girl to me.
There was never any sign of previous abuse, the grandmother claimed.
She has shown the highest class of professional acting - if you deceive everyone to such an extent.
I completely did not know my daughter,it turns out.
- Australscope
Do you have a story tip? Email:newsroomau@yahoonews.com.
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Damn straight the NBA needs him: Why Zion Williamsons debut is so important – Yahoo Sports
Posted: at 10:29 am
NEW YORK Its a rim-shaking sight, watching a sweat-soaked Zion Williamson throw down windmill dunk after windmill dunk some three hours before the New Orleans Pelicans are scheduled to face the Knicks on Friday.
Aside from arena workers and team personnel who assist Williamson in his workouts, hardly anyone sees him put in the extra preparation, the final steps before the Next Big Thing plays in his first NBA game, which is expected to be Jan. 22 in New Orleans against the San Antonio Spurs.
Hes half-man, half-Loch Ness Monster.
So many NBA stars and bankable commodities are on the sidelines and sporting their latest trendy wardrobe choices an unexpected development from an injury-filled season.
But Williamsons absence has arguably been the biggest, and the league needs him to step off the sidelines and onto the floor.
And fast.
Television ratings are sagging to start the season, and the reasons are hard to pinpoint. It could be the confusing China situation, one the NBA fumbled in the preseason. It could be cyclical. It could be general fatigue from a nearly year-round season.
But theres no denying that Williamson is a big piece of the NBAs present and future.
I think so. The league does need him, Pelicans coach Alvin Gentry told Yahoo Sports. Because he's a great personality, a great feel for the game. And he's a different kind of player. Kind of like Luka [Doncic], basically. They bring an element to the game you don't see in other guys.
Williamson, like Doncic, is a new face of Jordan Brand, a potential magnetic star for the shoe company to relaunch for the next generation. Hes the cornerstone for basketball in New Orleans, the biggest piece Pelicans vice president of basketball operations David Griffin hopes to build around for the next decade.
Pelicans forward Zion Williamson will make his NBA debut on Jan. 22. (Photo by Jevone Moore/Icon Sportswire via Getty Images)
For all of his dynamite dunks and backyard bully plays that hes displayed while making his way to the national consciousness, the first thing that pops up on an internet search after Zion Williamson is the word injury.
A strong start to the preseason was halted by surgery on his right knee (meniscus) in October, and the Pelicans have been cautious with the timeline surrounding his potential return, preferring to look at the big picture.
He wants to play. In those situations, you have to protect a guy from himself, Gentry told Yahoo Sports. This has been his lifelong goal. We understand what it is, but I told him we have your best interests at hand. We're not gonna do anything [thats a] risk, put you in harms way. We gotta be patient enough to understand that.
Its not what the NBA expected for Zions rookie year. The league has to prepare for a post-LeBron world, and Williamson is expected to be a lead attraction.
According to a league official who requested anonymity, in 22 of the first 35 national TV games (ESPN, ABC, TNT), at least one star was missing from the game (63 percent). Kevin Durant, Stephen Curry, Kyrie Irving, Paul George, Kawhi Leonard and Klay Thompson count as stars.
So does Zion Williamson.
The total has risen some, but as of Thursday its at 50 percent still a whopping number of games missing stars.
The Pelicans games were put on almost exclusively because of him, the official told Yahoo Sports. So his absence hurt us big time because they were on [national TV] so much early, and it hurt the spotlight on those games.
A front-office executive involved with the NBA for three decades echoed those sentiments.
Ive never seen so much attention put from the league onto a player so early, he said. Damn straight the NBA needs him.
While hes still a raw talent with plenty of room to grow, Zion is a box-office commodity.
Hes not a max player [yet], but hes a max entertainer, an Eastern Conference executive told Yahoo Sports.
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As big as he is on the basketball side, with the season tickets theyve sold, their marketing, their grassroots marketing, hes bigger on the business side. He changes the perception of the franchise. Between drafting him and hiring David Griffin, theyve changed their perception. Theyre a national franchise now, businesses will be attracted to them.
Gentry has been party to this before. He coached Grant Hill during the height of his popularity first as an assistant under Doug Collins in Detroit and later as the Pistons head coach. Hill was tabbed as the Next Jordan and even led the NBA in All-Star voting the year Jordans Bulls won 72 games in 1996.
Hill had his own sneaker line with Fila, and endorsements with McDonalds and Sprite, among others. Like Williamson, he came from Duke, possessing a national pedigree and a game to match.
But Gentry said thats where the comparisons end.
Its a much higher degree [now], Gentry told Yahoo Sports. From shootaround, we get off the bus, theres people. We get back on the bus to go to the game, and there's hundreds of people there who just wanna get a glimpse of him, just wanna see him.
Without a hint of arrogance or overstatement, Gentry says the attention around Williamson exceeds the other players other than LeBron James.
Hill suffered a severe ankle injury six years into his career that robbed him of his prime, turning him into one of the biggest what-ifs in NBA history.
With the benefit of hindsight and knowing Williamson wouldnt touch the floor halfway through his rookie year, the executives reached by Yahoo Sports had mixed feelings on the thought of taking Williamson No. 1 all over again.
I wouldnt have taken him No. 1 even back then, a Western Conference general manager said. I wouldve taken Ja [Morant] or traded back to pick up as many picks as I could.
Id definitely still take him first, wouldnt you? an Eastern Conference executive responded.
Yeah, when you consider everything he brings, Im still picking him first, another Eastern Conference general manager said, pointing out theres no other sure-fire superstar to be had.
Between the right knee sprain he suffered at Duke last year when his shoe gave out and the injury from this preseason, the fears about his health havent been quelled.
Hes definitely unique. Unique talent, special kid. Matchup problem, the Western Conference GM told Yahoo Sports. Biggest thing is health. Three hundred pounds of health and torque. What makes him unique is athleticism, not necessarily skill.
Its easy to see Williamsons popularity across NBA arenas. He routinely stops to sign autographs and pose for photos on his way to the locker room.
Gentry feels his player is built for the attention, the pressure and the anticipation.
Its good for our game, he said. What it says is the league is in really good shape. LeBron is an older player, he's still the best player in the league, I think, and still has all the attention. Ja Morant, I think people are starting to feel that way about him, Luka and guys like that.
And guys like Zion.
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Consumers are starting to feel streaming fatigue, analyst says – Yahoo Finance
Posted: at 10:29 am
As yet another streaming service enters the heavily saturated space, one Wall Street analyst says consumers might be starting to feel streaming fatigue.
I think you are starting to see some [streaming] fatigue. But I think it also comes down to numbers, Wedbush analyst Dan Ives said on Yahoo Finances On The Move.
NBC unveiled details on its upcoming streaming service Peacock Thursday. The service is expected to launch in July and will have one completely free ad-supported version and two paid tiers of Peacock Premium. The cheaper plan will cost $4.99 per month and will feature advertisements, while the $9.99 version will be ad free.
By offering a completely free ad-supported version, Peacock is attempting to stand out from a crowded field. This tiered structure is really the right way for them to go. I mean, I think they have the content, they have the distribution, Ives argued.
A peacock is pictured outside NBC headquarters at Rockefeller Center in the Manhattan borough of New York City, New York, U.S., January 16, 2020. REUTERS/Carlo Allegri
However, thats not the only way Comcast-owned NBCs Peacock is planning to differentiate itself. The advertising model is also unique. Peacock is going to limit the amount of ad time to five minutes per hour watched. Ives noted that the strategy might be a smart move for NBC.
They need to ensure that consumers go on to the platform attracted to it, and then ultimately over time, they can increase that advertising per hour. I think that's a smart move, sort of balancing act in terms of what you want to see. But I think over time, you could see more ads as they have more content.
Ives estimated that the average household in the U.S. is spending about $35 per month on streaming services, and he believes the capacity will max out at $55 per month. For $55 per month, consumers can subscribe to the lowest tier Netflix (NFLX) and Hulu subscriptions, HBO Now, Showtime, Disney+ and Apple TV+. Those six subscriptions would total $53.
Definitely fatigue out there, but if you look right now, especially with the HBO coming in the spring, there's going to be some winners and losers. But as of right now, we think Peacock's a winner in terms of the way that strategically they've launched it, Ives said.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter:@heidi_chung.
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Israel’s F-35I Adir Is Taking America’s Stealth Fighter To A Whole Other Level – Yahoo News
Posted: at 10:29 am
Key point:Over time, Israel will likely acquire additional F-35s, as it intends for the type to replace its fleet of over 320 F-16s
On May 22, Israeli Air Force commander Amikam Norkin announced that its F-35I stealth fighters had flown on two combat missions on different fronts, showing as proof a photograph of an F-35 overflying Beirut. While details on those missions have not been releasedapparently, they were not deployed in a massive Israeli air attack on Iranian forces in Syria that took place on May 9this nonetheless apparently confirmed the first combat operations undertaken by any variant of the controversial stealth jet, which is currently entering service with the militaries of ten countries after undergoing over two decades of development.
In fact, Israels F-35I Adiror Mighty Oneswill be the only F-35 variant to enter service heavily tailored to a foreign countrys specifications. There had been plans for a Canadian CF-35, with a different refueling probe and drogue-parachute to allow landing on short Arctic air strips, but Ottawa dropped out of the F-35 program.
It has become a common practice to create custom variants of fourth-generation jet fighters such as the Su-30, F-15 and F-16 for export clients, made to order with local avionics, weapons and upgrades that suit a particular air forces doctrine and strategic priorities. Today, Israel operates heavily upgraded F-15I Raam (Thunder) and two-seater F-16I Sufa fighters. Furthermore, Israel in particular hasnt hesitated to modify aircraft it has already received fit its needs: for example, in 1981 it rigged its then-new F-15A Eagle air superiority fighters to drop bombs, and used these first-ever strike Eagles to destroy the Iraqi Osirak nuclear reactor.
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Why traders playing oil like its 2010 are ‘getting their heads handed to them’ – Yahoo Finance
Posted: at 10:29 am
Crude oil traders who bet on a major price surge after U.S.-Iran tensions flared last week ended up losing big as those tensions subsided.
Dan Dicker, a veteran energy trader and found of The Energy Word, tells Yahoo Finance that the prevalence of algorithmic trading today has made it that much more challenging for human traders.
Brent crude prices (BZ=F) posted a weekly decline of 5% Friday, settling at $64.98 per barrel and below levels from before the U.S. airstrike that took out Iranian general Qassem Soleimani on Jan. 3. Domestic West Texas intermediate (CL=F) posted a weekly decline of more than 6% to $59.04 a barrel, representing the largest weekly drop since July.
The declines more than reversed momentary spikes in both Brent and WTI crude prices last week, when concerns that Iran might retaliate with a hit to Middle East oil infrastructure sent investors scrambling to price in a supply risk premium.
But that quick reversal in price action may have been premature, according to Dicker.
I think that traders ultimately may get bit in the backside because theres such passivity to geopolitical risk, Dicker told Yahoo Finances The Final Round. I was biting my fingernails maybe a lot of people were that, you know, in fact, if there were casualties from the reprisal strike from the Iranians that Trump might, you know, puff his chest out and toss a bomb at Tehran and wed be in the middle of, you know, a sector-wide war that involved more than just the U.S. and Iran.
Instead, President Donald Trump announced Wednesday that he would be retaliating against Iran with sanctions, rather than escalating a military confrontation. The apparent easing of tensions with Iran sent oil prices down immediately.
Just because, you know, a president comes out, you know, the next morning and says, Im not going to take a retaliatory move quite yet I mean, all of a sudden oil drops $3.50, Dicker said. That, to me, is a tremendous change over the way that oil markets used to react to news like this even as much as five years ago and 10 years ago.
A key reason, Dicker said, boils down to who is and is no longer actually facilitating oil trades. Up until recently, there were a lot more humans that were in the pipeline in terms of who was moving the markets, who was putting bets down, who was playing far out on the curve and who wasnt, he said.
But that dynamic has changed, and so too has oil price action in response to geopolitical shocks.
Now were swamped by machines, and theyre momentum searchers. And ultimately, you know, when something comes out, no matter what the price is whether its considered to be bullish news or bearish news there seems to be a pile-on factor, Dicker said.
Instead of humans playing the market, there really are machines playing the market, he added. And yes, weve all had to become used to that, because those traders who have been playing the game as if it were, you know, 2010 or 2000 or 1995 have gotten their heads handed to them.
An Iranian flag flies at Iranian oil tanker Adrian Darya 1, before being named as Grace 1, as it sits anchored after the Supreme Court of the British territory lifted its detention order, in the Strait of Gibraltar, Spain, August 18, 2019. REUTERS/Jon Nazca
Were all kind of forced into this very kind of passive kind of idea about oil prices being unmovable by geopolitics, Dicker said.
That said, many economists have pointed out that this weeks earlier oil price spikes were also capped due to the perception that a Middle East supply shock would do less to hamper overall supply, given an existing supply glut and surging domestic production.
A similar phenomenon took place last September, when Brent crude oil prices spiked 15% but then quickly receded after a drone strike the U.S. blamed on Iran hit Saudi oil infrastructure and temporarily took out about 5% of global daily oil production.
Now, if something would actually come out that would actually really put some supply at risk, youd see markets spike in a way that youd never see them spike before, Dicker said.
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The machines are so far behind the curve when it comes to this that when some real momentum of real supply issues come up, youre going to see them spike prices not, you know, $10 or $7, but more like $25 or $30. And that would happen in only several days. Thats what youre really looking at, Dicker said.
Emily McCormick is a reporter for Yahoo Finance.Follow her on Twitter: @emily_mcck
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Trump should ‘absolutely’ get credit for changing the China conversation: analyst – Yahoo Finance
Posted: at 10:29 am
The signing of a phase one trade deal with China is unlikely to end the fight over many of Beijings trade abuses, but one prominent D.C. analyst says the deal is the culmination of a changing attitude towards Americas largest trading partner.
One of the things that Trump does absolutely get credit for is that the conversation with China has completely changed, Ed Mills, Washington policy analyst at Raymond James, tells Yahoo Finances The First Trade.
Before President Donald Trump took office, Mills said, you couldn't confront China, you couldn't have some of the conversations, or else there would be real consequences.
Now, though, China has largely gotten the message that the American people view China differently today than they did before President Trump got into office, Mills told Alexis Christoforous and Brian Sozzi.
U.S. President Donald Trump speaks during a meeting with China's Vice Premier Liu He in the Oval Office at the White House after two days of trade negotiations in Washington, U.S., October 11, 2019. REUTERS/Yuri Gripas
It hasnt been an easy ride for the world economy. Trade worries have driven down expectations for growth, with the World Bank cutting its most recent global growth forecasts. And a Federal Reserve analysis found the tariffs caused more harm than benefits to the manufacturing sector.
Theres also the unfinished business that remains for a promised phase two deal. So far, China has not been open to resolving the biggest Trump administration complaints, including industrial subsidies and intellectual property theft.
What China has been saying since the beginning here is they've always kind of mentioned this as a 40-40-20 problem, Mills said. There's about 40% of this that we could do today. 40% that can be done in five years. About 20% that is off limits. Some of the things that Trump wanted to spend the time on, and what he spent the last two years on, are things in that 20% bucket.
There'll be some movement here on the intellectual property side of this, but probably once again, about the bare minimum it would have taken for both sides to sit down and sign something, Mills said.
But dont expect the trade war to go away no matter who wins the White House in November.
There has been a lot of volatility, and there's been certain consequences, especially among farmers and with agriculture, Mills said. It would be incumbent on anyone who wins in 2020 to continue this fight, because a lot of the issues he's raised have resonated in a bipartisan way with the American people.
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Rand Paul Slams the Bidens over Alleged Corruption: It Smells to High Heaven – Yahoo News
Posted: at 10:29 am
Senator Rand Paul (R., Ky.) said Thursday that Joe and Hunter Bidens activity in Ukraine goes to the heart of the matter surrounding the upcoming impeachment trial in the Senate, and argued that GOP senators must be willing to call President Trumps preferred witnesses, or all hell is going to break lose.
Appearing on Hannity, Paul stated that he believed the alleged corruption perpetrated by Hunter Biden in his role on the board of a Ukrainian gas company Burisma while his father was overseeing official U.S. relations with Kyiv needed to be explored.
If the president is being accused of withholding foreign aid, and his argument is, Well, we were studying corruption, and we wanted to know about corruption in Ukraine, and I think the Bidens are as corrupt as the day is long, Paul argued. No young man who is the son of a politician gets $50,000 a month who has no experience, working for a Ukrainian oligarch. You know, for goodness sakes it smells to high heaven. It smells like corruption.
Paul pointed to bias in the media as the reason why the issue has not been more thoroughly explored. In its Friday release of an interview with Joe Biden, The New York Times editorial board opened by saying There is no indication that you or your son did anything wrong or were part of any corruption in Ukraine.
Every day on the mainstream media, they say, Oh, theres no there there. This has been investigated. There is no corruption. I think the American people dont buy it, Paul told Hannity. Heres the thing: Fair is fair. If theyre going to put the president through this, theyre going to have to have witnesses on both sides.
The Kentucky Republican, who earlier this week threatened fellow Republican senators with consequences if they did not bring forward Trump-favored witnesses, reiterated his point Thursday night, saying his fear is that if people play games with the witnesses . . . I think all hell is going to break lose.
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If it turns out and the Republican base sees that this only looks like Democrat witnesses and no presidential witnesses, I guarantee that the Republican base will punish those people who set up that kind of scenario, Paul stated.
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