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January 2025

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Suicidal tendencies and ’80s battlefield tactics: How North Korean soldiers are operating in Russia’s war on Ukraine

6 Mins Read

Detonating a grenade under the chin rather than being captured. Using a fellow soldier to lure out attack drones. Removing body armor plates and helmets to enable faster attacks on foot. Writing pledges of allegiance to North Korea’s Supreme Leader Kim Jong Un.

These are the brutal and near-suicidal tactics of North Korean soldiers, who have, since November, been deployed to repel Ukraine’s incursion in the southern Russian border region of Kursk.

Up to 12,000 North Korean soldiers have been sent to Russia, according to Western intelligence reports, which say around 4,000 troops have been killed or injured.

Ahead of a likely escalation before any peace talks, Moscow is experiencing manpower shortages and Pyongyang is expected to send reinforcements, according to Ukrainian defense intelligence.

The Ukrainians swiftly open fire and dive back. South Korean lawmakers were told by the country’s intelligence service, who have provided assistance to Kyiv, that the soldier in the video’s last words were: “General Kim Jong Un.”

“They can just brazenly go into battle until they are neutralized,” Pokémon said, adding: “Despite all attempts to call them to surrender, they will continue to fight.”

He added that the North Koreans were unprepared for Ukraine’s battlefield realities, where modern drone combat and archaic trench warfare have led to significant casualties.

While the North Korean soldiers are “all young, trained, hardy fighters,”Pokémon said, they would have not previously faced a UAV (unmanned aerial vehicle) – which have transformed the war in Ukraine – in combat. “They are prepared for the realities of war in 1980 at best,” he said.

Amur, a company commander, said some North Koreans removed their helmets and the heavy protective plates from their body armour, to make them lighter on their feet and enable a faster assault at Ukrainian positions.

“They’re very maneuverable and they run and move very quickly,” he said. “They’re hard to catch, especially with a drone,” Amur added, explaining that they often weave an indirect path towards Ukrainian defenses, as if trained to not run in a straight line.

The North Koreans also leave anti-tank mines on roads as they go, Amur said. “Every shelter, every car they just destroy with anti-tank grenade launchers. They move very fast, (they) literally run,” he said.

“In their backpacks is the minimum of water, small bottles – up to a liter,” Amur said. “There are no additional warm clothes – no hats, no scarves, nothing.”

Amur said the North Koreans appear to have the more modern versions of Russian standard issue equipment, with most in possession of around 10 magazines, 5-10 grenades, machine gun ammunition and mines. The North Korean soldier was carrying an AK-12 assault rifle – the newer model of the standard issue AK-47, Amur said.

Notes, fake military ID found

Earlier this month, Ukraine captured two North Korean soldiers, and released video of the injured men, speaking Korean and receiving treatment, as evidence of Pyongyang’s robust military support for Moscow.

Russian shelling escalated as the soldier was captured, Ukrainian officials said, aimed at stopping the North Korean soldier from being taken alive.

Ukrainian troops have taken DNA samples – saliva swabs and locks of hair – from the dead, which they said showed them to be of East Asian extraction, and provided further evidence of North Korean involvement.

The North Korean soldier seen detonating the grenade in the video carried a fake Russian military ID which identified him as 29-year-old Ment Chat. The document said he joined the Russian army in October and was from the Russian border region of Tuva, near Mongolia.

One sheet of paper is peppered with pledges of allegiance to North Korea’s leader Kim Jong Un and of victory in battle. It is unclear if the notes were meant to emphasize the soldier’s loyalty if killed in battle to protect their surviving families, or if it truly reflects their mindset.

Another note retrieved from the bodies extols North Korea’s prowess in combat and derides their enemy, Ukraine.

“The hammer of death to the unknown and the puppet trash is not far off. We wield the powerful force that makes them tremble in fear. An invincible and certain-to-win battle.”

Another note, from the collection said: “I will demonstrate unparalleled bravery to its fullest. World, watch closely.”

Acts of ‘disloyalty’ recorded

Ukrainian officials who reviewed the papers said the North Korean units consider their involvement in Russia’s war as an opportunity to gain battle experience to assist their leader in any future conflict nearer home.

While North Korea is one of the most militarized societies on earth – with an estimated 1.2 million armed service personnel and mandatory military service from age 17 – its troops have had very limited exposure to the battlefield since the Korean War, where an armistice brought hostilities to a halt in 1953.

Another document, likely written by an officer, recorded acts of disloyalty by North Korean subordinates – a common practice in the totalitarian state, where citizens are encouraged to inform on each other.

One note said a soldier had “engaged in an unimaginably disgraceful act by stealing supplies.” Another note said a different soldier had “failed to uphold the Supreme Commander’s dignity and placed his personal interests above all.”

Other papers contained the radio codes of the North Korean force, but also contained notes on new tactics to counter drone attacks, from which Amur said North Koreans had suffered major losses.

“My unit could take out about 30 enemy soldiers in a day’s work, just by throwing grenades on their heads. They didn’t understand what to do,” he said.

Labelled “How to destroy drones,” the handwritten North Korean note suggested using soldiers as bait.

“When a drone is spotted… at a distance of about 10-12 meters, one out of three people should unconditionally lure it, and the other two should take aim and shoot.

“Another method is, since shells will not fall again in the same crater, take cover in the crater…” it read.

Amur described a ruthless opponent. “They don’t take our prisoners. All of our servicemen we found are shot in the back of the head.”

This post appeared first on cnn.com

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Government workers dismayed by Trump’s return-to-office mandate

9 Mins Read

When the Trump administration announced a return-to-office mandate this week, it stated Americans “deserve the highest-quality service from people who love our country.”

Federal employees like Frank Paulsen say that comment suggests they aren’t hardworking or loyal.

Paulsen, 50, is the vice president of the Local 1641 chapter of the National Federation of Federal Employees, a federal workers union. He works as a nurse at the Department of Veterans Affairs in Spokane, Washington, and has been teleworking three days a week since 2022. His main job involves processing referrals to send patients to community health care partners, something he can do remotely.

Paulsen said he has been a federal employee for 22 years and is a disabled veteran himself. And he doesn’t think anyone he works with isn’t measuring up.

“I do not believe that I would subscribe to that belief at all,” Paulsen said. “My co-workers are very diligent about getting the work done.”

On Monday, Trump signed an executive order mandating all federal agencies order their employees back into the office full time “as soon as practicable” alongside a directive to end remote-work arrangements except as deemed necessary.

Late Wednesday, administration officials released a more detailed directive demanding the termination of all remote-work arrangements, alongside a statement that it’s a “glaring roadblock” to increasing government performance that most federal offices are “virtually abandoned.”

The GOP has long bemoaned the state of the federal bureaucracy. But the Trump administration appears to be making good on promises to overhaul it, in part supported by Elon Musk, Trump’s biggest donor, who is now serving as a semiofficial adviser.

“This is about fairness: it’s not fair that most people have to come to work to build products or provide services while Federal Government employees get to stay home,” Musk wrote on X following the order’s signing.

Though it represents just a sliver of the nation’s overall workforce, the U.S. government is the country’s largest employer, with more than 2 million civilian employees. Some 162,000 workers alone are located in Washington, D.C., according to data from the Office of Personnel Management (OPM), and federal workers make up over 40% of the city’s workforce.

But most federal workers, like Paulsen, actually work in other parts of the country: Only 7.56% of federal employees work in D.C.

Yet whatever their location, many workers like Paulsen are responding to Trump’s RTO order with concern. There are practical worries: Paulsen has questioned whether the office he works in, which the VA leases, has enough seats for everyone employed by his division. Another VA employee, who requested anonymity because she didn’t want her program targeted, echoed space concerns, especially in settings where sensitive medical information is discussed.

Paulsen said he is planning for a return to the office five days a week no matter what.

“The guidance we give our employees is basically, don’t put yourself in a position to get fired,” he said.

Morale has never been lower on one metastatic cancer research team within the VA, an employee there told NBC News. She requested her name not be used because she didn’t want her team to lose funding. Two people on her team are remote workers and the employee said she works from home two days a week, doing administrative tasks and data analysis.

Guidance was changing by the hour on Thursday, she said. With a contract that renews every three years, the employee said she was told by management at one point to start looking for new jobs, then was later alerted by a higher-up that she fell into the VA’s list of exemptions.

Lunch hour at a restaurant in the Capitol Hill neighborhood of Washington, D.C., in 2021.Drew Angerer / Getty Images file

The fate of her remote colleagues and telework options remains unclear, she said. They work with veterans across the country, and the team worried for those whose treatments could be canceled without them.

“It just doesn’t feel good to go into work knowing that you don’t know if you’re going to have a job in a few months,” she said.

A U.S. Department of Agriculture employee who works in Washington, D.C., said he and his colleagues are making backup plans. They all have telework arrangements, and some work remotely — hourslong drives from the nearest federal office. He views the executive order as an attempt to force people to quit. He wanted to remain anonymous because he fears retaliation.

“The feeling is there’s an ax over our heads,” he said.

The Trump administration has said that just 6% of federal employees now work in person. But according to an August report from the Office of Management and Budget, among federal workers eligible for telework — and excluding those who are fully remote — roughly 61% of work hours are now in person.

Among agencies, the Department of Agriculture had the highest percentage of in-person work hours, at 81%; while the Environmental Protection Agency had the lowest, at about 36%.

The Biden administration had already been keeping an eye on return-to-office implementation as the Covid-19 pandemic waned, with regular reports being issued on how much telework was being used by each federal agency.

In December, an OPM survey found 75% of telework-eligible employees had participated in telework in fiscal year 2023, though that was 12 percentage points lower than in fiscal year 2022.

The report said there had been positive results from a hybrid setup.

“Agencies report notable improvements in recruitment and retention, enhanced employee performance and organizational productivity, and considerable cost savings when utilizing telework as an element of their hybrid work environments,” it said.

A GOP-sponsored House Oversight Committee report this week accused the Biden administration of exaggerating in-office attendance, citing “physical and anecdotal evidence,” while accusing it of taking a “pliant” posture toward federal union groups as they sought more generous telework arrangements.

Even as it praised Trump’s desire to improve federal workforce accountability and performance, the Partnership for Public Service, a nonpartisan think tank focused on government effectiveness, said in a statement that the return-to-office order was an example of overreach.

‘While any move toward making the government more responsive to the public should be welcomed, it said, the actions announced in Trump’s workforce-related executive orders put that goal “farther out of reach.”

On a press call with reporters this week, Partnership CEO Max Stier said telework is necessary to attract more qualified employees who already tend to enjoy higher salaries in the private sector.

In a follow-up statement, Stier warned of the dramatic impact the order will have on career civil servants’ personal lives.

“The affected employees are everyday people who have to support themselves and their families, and the abrupt and rushed approach chosen here will have a traumatizing impact on not just them but their colleagues who remain in their roles serving the public, as well,” Stier said.

Social media forums frequented by government workers have also lit up, with many raising questions about how agencies were expected to comply given that many have been downsizing their office space.

Even before the pandemic ushered in widespread work-from-home policies, 2010 legislation cited telework for federal employees as a way to reduce office costs and promote resilience in emergency situations, as long as employees continued to meet performance expectations.

The Wall Street Journal reported the government was looking to sell off many of its commercial real estate holdings. NBC News could not independently confirm the report.

Unions representing federal employees have slammed the new policy, saying it would undermine the government’s effectiveness and make it harder for agencies to recruit top talent.

“Rather than undoing decades of progress in workplace policies that have benefited both employees and their employers, I encourage the Trump administration to rethink its approach and focus on what it can do to make government programs work better for the American people,” Everett Kelley, the president of the American Federation of Government Employees, said in a statement.

The AFGE’s contracts with major government firms, including the Environmental Protection Agency and the Department of Education, establish procedures for telework and remote work in accordance with the 2010 law. The union said the order “doesn’t appear to violate any collective bargaining agreements,” and whether it would file a lawsuit depends on how the policy is implemented.

“If they violate our contracts, we will take appropriate action to uphold our rights,” the AFGE said in a statement.

The NFFE, Paulsen’s union, likewise said the executive orders would “impair critical services” and viewed the termination of remote work arrangements as an attempt to force employees to quit.

“I am worried about this administration violating those contracts with regard to telework,” Randy Erwin, the national president of the NFFE, told NBC News.

One sector that would stand to benefit from the mandate is local business in downtown Washington, D.C.

Gerren Price, the president of the DowntownDC Business Improvement District, which covers an area to the east of the White House, said only about half of the office space within its boundaries is occupied. Price said 27% of that office space is owned and operated by the federal government.

From coffee shops to dry cleaners, local businesses that used to cater to a nine-to-five crowd have closed, Price said.

Leona Agouridis, the president of the Golden Triangle Business Improvement District, which encompasses an area between the White House and Dupont Circle a mile to the north, said the neighborhood hasn’t felt as busy as it did before the pandemic.

“This will go a long way in bringing back vibrancy that we have lost over the last five years,” Agouridis said.

At the Tune Inn, a restaurant and bar that has served D.C.’s Capitol Hill neighborhood since 1947, general manager Stephanie Hulbert is bringing back a federal worker lunch discount, which the establishment had done away with after the pandemic because no one used it. She knows this policy will change many federal workers’ lives, but hopes they can help each other out.

“I really hope that when these workers do come back, they come and support the small businesses that need it in D.C.,” Hulbert said. “Hopefully we’ll be able to get the morale up to where it needs to be.”

This post appeared first on NBC NEWS

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In Stocks

BEWARE! META, TSLA, AMZN, MSFT & AAPL Report Earnings Next Week!

1 Min Read

In this video, Mary Ellen reviews the new uptrend in the S&P 500, and highlights what’s driving it higher. She then shares new pockets of strength that are poised to take off, and what to be on the lookout for ahead of next week’s M7 earnings reports.

This video originally premiered January 24, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

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In World news

Baltic undersea cable likely damaged by external force, Latvia says

4 Mins Read

An undersea fiber optic cable between Latvia and Sweden was damaged on Sunday, likely as a result of external influence, Latvia said, triggering an investigation by local and NATO maritime forces in the Baltic Sea.

“We have determined that there is most likely external damage and that it is significant,” Latvian Prime Minister Evika Silina told reporters following an extraordinary government meeting.

Latvia is coordinating with NATO and the countries of the Baltic Sea region to clarify the circumstances, she said separately in a post on X.

Latvia’s navy earlier on Sunday said it had dispatched a patrol boat to inspect a ship and that two other vessels were also subject to investigation.

Up to several thousand commercial vessels make their way through the Baltic Sea at any given time, and a number of them passed the broken cable on Sunday, data from the MarinTraffic ship tracking service showed.

One such ship, the Malta-flagged bulk carrier Vezhen, was closely followed by a Swedish coast guard vessel on Sunday evening, MarineTraffic data showed, and the two were heading in toward the southern Swedish coastline.

It was not immediately clear if the Vezhen, which passed the fiber optic cable at 0045 GMT on Sunday, was subject to investigation.

A Swedish coastguard spokesperson declined to comment on the Vezhen or the position of coastguard ships.

“We are in a stage where we cannot give any information,” the spokesperson said. “Exactly how we are involved we cannot say.”

Bulgarian shipping company Navigation Maritime Bulgare, which listed the Vezhen among its fleet, did not immediately reply when called and emailed by Reuters outside of office hours.

NATO cooperation

Swedish navy spokesperson Jimmie Adamsson earlier told Reuters it was too soon to say what caused the damage to the cable or whether it was intentional or a technical fault.

“NATO ships and aircrafts are working together with national resources from the Baltic Sea countries to investigate and, if necessary, take action,” the alliance said in a statement on Sunday.

Swedish Prime Minister Ulf Kristersson said his country was cooperating closely with NATO and Latvia.

“Sweden will contribute important capabilities to the ongoing effort to investigate the suspected incident,” Kristersson said on X.

NATO said last week it would deploy frigates, patrol aircraft and naval drones in the Baltic Sea to help protect critical infrastructure and reserved the right to take action against ships suspected of posing a security threat.

The military alliance is taking the action, dubbed “Baltic Sentry”, following a string of incidents in which power cables, telecom links and gas pipelines have been damaged in the wake of Russia’s invasion of Ukraine in February 2022.

Finnish police last month seized a tanker carrying Russian oil and said they suspected the vessel had damaged the Finnish-Estonian Estlink 2 power line and four telecoms cables by dragging its anchor across the seabed.

Finland’s prime minister in a statement said the latest cable damage highlighted the need to increase protection for critical undersea infrastructure in the Baltic Sea.

The cable that broke on Sunday linked the Latvian town of Ventspils with Sweden’s Gotland island, and was damaged in Sweden’s exclusive economic zone, the Latvian navy said.

Communications providers were able to switch to alternative transmission routes, the cable’s operator, Latvian State Radio and Television Centre (LVRTC), said in a statement, adding it was seeking to contract a vessel to begin repairs.

“The exact nature of the damage can only be determined once cable repair work begins,” LVRTC said.

A spokesperson for the operator said the cable, laid at depths of more than 50 metres (164 ft), was damaged on early Sunday but declined to give an exact time of the incident.

Unlike seabed gas pipelines and power cables, which can take many months to repair after damage, fiber optic cables that have suffered damage in the Baltic Sea have generally been restored within weeks.

A Swedish Post and Telecom Authority spokesperson said it was aware of the situation but had no further comment.

This post appeared first on cnn.com

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American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z

2 Mins Read

American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.

Spending on AmEx cards jumped 8% year over year in the fourth quarter after slowing from a 7% growth rate early in the year to 6% during the second and third quarters, according to the firm’s earnings presentation.

While the year-end pickup was seen across all customer segments and geographies, it was especially fueled by millennials and Gen Z users, where transaction volumes jumped 16%, up from 12% in the third quarter.

Older groups were more restrained with their cards. Gen X customers spent 7% more in the fourth quarter, while baby boomers saw billings rise just 4%.

“We had very strong growth from Gen Z and millennials, and that 2 percentage point acceleration gives us a lot of optimism for 2025,” Le Caillec said.

Elevated transaction levels have continued into the first three weeks of this year, he added.

Younger Americans are said to spend more on experiences rather than goods, and that is reflected in the results from AmEx, which along with rival card issuer JPMorgan Chase, dominate the market for high-end credit cards.

Travel and entertainment billings rose 11% in the quarter, compared with 8% for good and services. The boost in travel came from airline spending, which rose 13%, with spending for business class and first class airfares up 19%, according to Le Caillec.

AmEx shares fell more than 2% in midday trading Friday after the company reported earnings and revenue that were roughly in line with analysts’ expectations. Shares of the New York-based company have been on a tear over the past year, hitting a 52-week high on Thursday.

“We are encouraged by accelerating billings growth as we believe it will be a key factor for Amex to meet its aspirational target of at least 10% revenue growth,” William Blair analysts led by Cristopher Kennedy wrote Friday in a research note. “We remain buyers on any pullback.”

This post appeared first on NBC NEWS

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In Stocks

The Best Five Sectors, #4

3 Mins Read

No changes in the top-5

At the end of this week, there were no changes in the ranking of the top-5 sectors.

  1. (1) XLY – Consumer Discretionary
  2. (2) XLF – Financials
  3. (3) XLC – Communication Services
  4. (4) XLI – Industrials
  5. (5) XLE – Energy
  6. (6) XLK – Technology
  7. (7) XLU – Utilities
  8. (11) XLB – Materials
  9. (8) XLRE – Real Estate
  10. (9) XLP – Consumer Staples
  11. (10) XLV – Health Care

In the bottom of the ranking, a few changes are showing up.

Materials rose from #11 to #8. XLRE dropped from #8 to #9. And XLP and XLV both dropped one position to #10 and #11.

As a refresher, this ranking is done based on a combination of RRG metrics on both the daily and the weekly RRGs.

Based on the positions of XLE and XLK on the weekly RRG, it may seem strange that XLE is above XLK. However, looking at the daily RRG, it can be seen that XLE made a huge move into and through leading with a very high RS-ratio and RS-momentum reading, which dragged the sector above XLK.

Consumer Discretionary

XLY has put a new higher low into place which underscores the current strength of this sector. The newly formed low at 218 is now the first support level to watch for XLY.

The first target to the upside is the level of the previous peak around 240. The uptrends in both price and relative strength are still intact.

Financials

The Financials sector now also has a new higher low in place at 47, which should also be seen as the first support level for XLF.

51.6 is the first target and resistance level on the upside. An upward break will unlock more upside for financial stocks.

Communication Services

Out of the top-5 sector charts, XLC is probably the strongest.

This week’s upward break out of the flag-like consolidation pattern must be seen as very strong and the signal for a further rally. Taking out the previous high at 102.40 will be the confirmation.

Industrials

XLI continues its bounce of support and is underway to the upper boundary of its rising channel. Intermediate resistance is expected around 144.

Relative strength remains under pressure but is still stronger than the other sectors and therefore keeping XLI inside the top 5.

Energy

Energy dropped back a bit after its rally in the last few weeks but remains solidly in the middle of its range. Here also relative strength remains under pressure.

Performance

As of the close on 1/24 the top-5 portfolio gained 3.89%, keeping up with SPY which gained 3.99% over the same period.

#StayAlert, and have a great weekend. — Julius

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Elon Musk speaks at Germany’s AfD campaign launch as thousands protest the far-right party

3 Mins Read

American tech billionaire Elon Musk made a surprise address at the campaign launch for Germany’s Alternative for Germany (AfD) party as thousands of people gathered across the country to protest the rise of the far-right party.

Musk, who spoke to the crowd in a live video, was met with huge cheers by the roughly 4,500 AfD supporters gathered inside a hall in the eastern German city of Halle on Saturday.

While speaking with party leader Alice Weidel, AfD’s candidate for chancellor, Musk reiterated his belief that AfD is Germany’s “best hope” in the upcoming general election on February 23.

Germany, Europe’s largest economy, is heading to snap elections in February after Chancellor Olaf Scholz lost a vote of confidence and his governing coalition collapsed after months of instability.

AfD has seen an upswell in support, recently becoming the first far-right party to win a state election in Germany since the Nazi era and performing well in opinion polls for the upcoming election. At the same time, the party has been criticized for its staunch anti-immigrant stance. All of Germany’s mainstream political parties have said they will not work with the AfD.

Musk, a close ally of US President Donald Trump, stressed the importance “that people take pride in Germany and being German,” a sentiment that was met with rapturous cheers at the AfD rally.

The billionaire also addressed the issue of immigration — a key issue in the election — urging Wiedel and her supporters not to lose their national pride in “some kind of multiculturalism that dilutes everything.”

Meanwhile, tens of thousands of Germans protested in Berlin and other cities on Saturday against the far-right party.

In the western German city of Cologne, police estimated a crowd of 40,000 people were demonstrating, according to the Associated Press. About 35,000 protestors gathered at Berlin’s iconic Brandenburg Gate, according to police estimates, where they sang anti-fascist songs, carried banners denouncing AfD, and displayed illuminated letters spelling “hope and resistance,” AP reported.

“Those who fuel racism and attack climate protection are not just campaigning, they are endangering lives,” climate activist Luisa Neubauer told the crowd reported AP.

Musk has become increasingly engaged in the European political landscape. In recent weeks, he has kindled an alliance with AfD party leader Wiedel. Earlier in January, the two discussed Germany’s election, economic, and political issues.

But the involvement of Musk — the world’s richest man and the owner of the social media platform X — has also been met with apprehension among government leaders in Europe.

In the United Kingdom, the prime minister accused Musk of spreading “lies” after the billionaire provoked a social media backlash against the British government. Musk has also pushed for the release of jailed far-right political activist Tommy Robinson and amplified a social media uproar that fueled anti-immigration riots.

The German government has even accused Musk of trying to influence its election over his endorsement of the AfD.

Despite the scrutiny, Musk has continued to voice his support for the populist political movements that have galvanized numerous European elections. He has also drawn parallels between the political climate in Germany and the United States while emphasizing the global impact the approaching election could have.

“I think it could decide the entire fate of Europe, maybe the fate of the world.” he told AfD supporters on Saturday, “that is the significance of this election.”

This post appeared first on cnn.com

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Target rolls back DEI initiatives, the latest big company to retreat

4 Mins Read

Target on Friday said it’s rolling back diversity, equity and inclusion programs — including some that aim to make its workforce and merchandise better reflect its customers.

In a memo sent to its employees, the Minneapolis-based retailer said it will end its three-year DEI goals, stop reports to external diversity-focused groups like the Human Rights Campaign’s Corporate Equality Index and end a program focused on carrying more products from Black- or minority-owned businesses.

The memo was sent to staff Friday and viewed by CNBC. It was written by Kiera Fernandez, chief community impact and equity officer at Target.

“Many years of data, insights, listening and learning have been shaping this next chapter in our strategy,” she said in the memo. “And as a retailer that serves millions of consumers every day, we understand the importance of staying in step with the evolving external landscape, now and in the future — all in service of driving Target’s growth and winning together.”

A Target spokesperson said there are no job cuts as part of Friday’s DEI announcement.

With the move, the discounter joins a growing list of companies including Tractor Supply, Facebook’s parent Meta, Walmart and McDonald’s that have dropped DEI-related pledges and goals. Some of those companies faced pressure from conservative activists or cited the Supreme Court’s ruling blocking affirmative action at colleges — which may not compel corporations to take any action on the issue.

The company’s decision also follows President Donald Trump’s executive orders, made almost immediately after his Inauguration, to end the government’s DEI programs and put federal officials overseeing those initiatives on leave.

Not all companies have joined the trend. On Thursday, Costco said at its annual meeting that more than 98% of shareholders voted against a proposal to review risks of its DEI programs. Costco’s board of director had urged shareholders to vote it down.

Many corporations’ diversity commitments, including Target’s go back for years and were strengthened in the wake of the “Black Lives Matter” protests and the murder of George Floyd in 2020.

Four years ago, Target CEO Brian Cornell said the murder — which happened just a short distance from Target’s headquarters in its hometown — felt personal. He said it motivated him to step up Target’s diversity and equity efforts.

“That could have been one of my Target team members,” he said at the time, recounting his thoughts as he watched the video of Floyd taking his final breaths.

Target expanded its diversity goals at the time, saying it would increase representation of Black employees across its workforce by 20% over the next year. The company started a new program to help Black entrepreneurs develop, test and scale products to sell at mass retailers like Target. And it promised to spend more than $2 billion with Black-owned businesses by 2025, from construction companies that build or remodel stores to advertising firms that market its brand.

The company and its foundation also gave $10 million to support social justice groups, including the National Urban League and African American Leadership Forum.

On its website in recent years, Target has touted Cornell’s and the company’s “steadfast commitment to stand with Black families and fight against racism.” In other posts on its website, the company provided updates on its efforts to add more officers of color, reduce turnover of people of color, and increase promotions of women and minorities.

One post was titled “We Are Never Done,” and started off with a quote from Black poet and civil rights activist Maya Angelou.

Target dissolved the goals at a time when conservative politicians and activists have increasingly turned their focus on company efforts to be more inclusive.

Target had already felt the heat from conservative groups over some of its other longstanding initiatives. About two years ago, the retailer pulled items from its Pride Month collection after backlash and threats to employees about some merchandise it sold, such as “tuck-friendly” swimsuits for trans people.

Cornell said in 2023 that the backlash contributed to weaker quarterly sales for the company. He said, however, that it would continue to mark heritage months with merchandise collections, such as Black History Month and Pride Month.

Target’s employee base had grown more diverse in recent years.

About 43% of Target’s workforce was white, 31% was Hispanic/Latino, 15% was Black and 5% was Asian in the fiscal year that ended in early February 2024, according to the company’s most recent diversity report.

The company’s leadership team is less diverse than its overall workforce. Seventy-two percent of the leadership was white, followed by 11% Hispanic/Latino, 11% Asian and 6% Black.

This post appeared first on NBC NEWS

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Mag7 ETF Leads as Bullish Pattern Forms – Charting the Trends and Trading Setups for the Mag7 Stocks

2 Mins Read

The Mag7 ETF (MAGS) formed another short-term bullish continuation pattern as it worked its way higher since the triangle breakout in mid September. This report will also analyze the long-term trends, highlight the short-term setups and compare performance for the stocks in this ETF.

First and foremost, MAGS is in a long-term uptrend with a new high in mid December and price well above the 200-day SMA. This ETF has been in a long-term uptrend since the big surge and breakout in November 2023. MAGS started trading in April 2023 so the 200-day SMA did not start until late January 2024. MAGS fell sharply in July 2024, but held above the 200-day SMA and resumed its uptrend with a new high in November.

The indicator window shows the MAGS/RSP Ratio, which measures relative performance. This line rises when MAGS outperforms the S&P 500 EW ETF (RSP) and falls when MAGS underperforms. MAGS is outperforming the broader market as the price-relative rises and hits new highs.

With MAGS in a long-term uptrend and leading the market, we want to be focused on bullish setups within this trend, such as bullish continuation patterns. MAGS and several other tech-AI related ETFs were featured in our report on Thursday. Medium-term, MAGS formed a triangle in July-August. This triangle formed within a long-term uptrend and was a bullish continuation pattern. MAGS broke out in mid September and worked its way higher the last five months.

More recently, the ETF formed a flag in October, a pennant in November and another flag here in January. These are short-term bullish continuation patterns. MAGS is breaking out of the flag this week and this signals an end to the pullback and a resumption of the uptrend. Re-evaluation support is set at 53.

Nvidia (+146%), Tesla (+97%), Amazon (+35%) and Meta (+66%) are powering MAGS with the biggest gains over the past year. Microsoft (+13%) and Apple (+15%) are the laggards in the group, but one is setting up and the other resumed its uptrend. This report continues at TrendInvestorPro where we analyze the trading setups for each of the Mag7 stocks. Click here to take a trial and gain immediate access.

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Residents say they were forced to flee Jenin refugee camp as Israel’s West Bank military operation intensifies

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The sound of gunfire and explosions filled the air as residents of the Jenin refugee camp in the occupied West Bank hauled their belongings down the muddy pathway.

Smoke billowed from multiple areas in the camp’s Al-Hadaf neighborhood, while a bulldozer razed a building in the distance and Israeli military convoys drove past nearby.

Either way, the men, women, children and elderly trudging through the mud-soaked pathways said they had no choice but to flee the camp, a sprawling area of narrow alleys that has long been a bastion of militant factions and is now front and center of the IDF’s Operation “Iron Wall.”

Israel launched the operation two days after the first stage of the Gaza ceasefire began, saying it was aimed at eliminating “terrorists and terror infrastructure” and “ensuring that terrorism does not return to the camp after the operation is over – the first lesson from the method of repeated raids in Gaza.”

On Friday, the Israeli military said it had killed “more than 10 terrorists, arrested about 20 wanted individuals, and confiscated many other weapons and ammunition” during its operation in Jenin.

But rights groups have raised concerns that fleeing civilians have been caught in the crossfire.

Some of those now fleeing the camp said Israeli drones carrying loudspeakers had ordered them to leave, then guided them out.

Mousa Al-Sharaa, 45, fled Thursday with his elderly mother, who he had to carry at times as they left the camp on foot.

The streets were empty as they left and the Israeli army was “spread around everywhere,” he said.

Some residents said the military had told them they could return in seven days. Others said troops had told them they could not return at all.

Asked if he would return, Al-Sharaa said soldiers had warned him against the idea.

“They told us: don’t come back, we’ll make a boom out of the whole camp,” he said.

Khawla Asaad, 55, who was born in the camp, said she had evacuated four days ago amid heavy gunfire and was now staying with a friend nearby.

There had been no water or electricity for days before she left, she said, adding that most other people had left too.

As the Israeli operation continued into its fourth day, Thameen Al-Kheetan, the spokesman for the United Nations High Commission for Human Rights, said the commission was deeply concerned by the “use of unlawful lethal force” in Jenin, including “multiple airstrikes and apparently random shooting at unarmed residents attempting to flee or find safety.”

The UNHCR said it had verified that at least 12 Palestinians had been killed and 40 injured by Israeli security forces since Tuesday, most of them reportedly unarmed.

Elsewhere in the West Bank, the UN said, Israeli security forces had “shut down entrances to major Palestinian cities such as Hebron, closed checkpoints, and initiated long, individual searches of vehicles at those that remained open.”

In 2002, the Israeli military occupied the camp after 10 days of intensive fighting, according to the UN, during which time more than 400 houses were destroyed and over a quarter of the camp’s population was displaced.

This post appeared first on cnn.com

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