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U.S. trucking is heading for a slowdown, with industry players fearing the “worst is yet to come” as tariffs start to crimp imports.

Trucking volumes have plunged to near pre-pandemic levels, according to Craig Fuller, founder of the logistics industry publication FreightWaves.

“With imports deteriorating, volumes are expected to fall by another 3-4% over the next month,” Fuller said Tuesday in a post on X, citing the real-time freight data platform Sonar, which he also founded. Fuller said that’s a worrying sign for truckers this year.

Container volumes are down 20% at the busy Port of Los Angeles since a year ago, FreightWaves reported Tuesday, saying “this downturn spells trouble” for trucking firms that ship the overseas cargo inland across the country. Freight trucks carrying goods out of the metro area are “converging downward toward 2020 lockdown levels,” the outlet said.

The flags come as warning signs pile up for the broader U.S. economy due to President Donald’s Trump’s evolving trade war.

The International Monetary Fund on Tuesday knocked down its forecast for the year, lowering its January projection for global gross domestic product growth to 2.8%, from 3.6% previously. The IMF also cut its outlook for U.S. growth to just 1.8%, down from 2.7%, citing “epistemic uncertainty and policy unpredictability” out of the White House. Fresh GDP data is due out next Wednesday.

Freight carriers are “heavily dependent on the health of the U.S. economy, and many industry insiders are waiting on the final outcome of tariffs prior to expressing opinions regarding their outlook,” said John Crum, head of specialty equipment finance at Wells Fargo.

Trucks are the nation’s freight mode of choice for everything from grain to gravel, as measured by weight, and also carry the lion’s share, by dollar value, of foodstuffs, electronics and vehicles, federal data shows. Imports accounted for 40% of freight tonnage moved domestically by truck as of 2023.

Despite freight firms’ broader reticence, many are still “expressing caution regarding freight volumes for 2025,” Crum said.

In a separate note, Wells Fargo supply chain finance managing director Jeremy Jansen said one silver lining is that companies “have a bit more profit margins than in 2018/19 to absorb some tariff actions.” 

The growing pessimism comes just months after industry experts were heralding a likely rebound in trucking volumes after two years of declines. Just days before Trump was sworn in to a second term in January, the American Trucking Association released a forecast projecting a 1.6% boost in freight for the year.

“Understanding the trends in our supply chain should be key for policymakers in Washington, in statehouses around the country and wherever decisions are being made that affect trucking and our economy,” ATA President and CEO Chris Spear said in a statement at the time.

But in the more than three months since then, consumers’ outlooks have nosedived, executives across industries have ramped up their warnings about slower sales, and Wall Street has swung wildly in response to ever-shifting signals about the administration’s trade agenda. Small-business owners say they’re doing their best to stockpile inventory before steeper tariffs take hold, even as many already get hit with higher bills from suppliers.

With much of Trump’s sweeping April 2 slate of tariffs temporarily rolled back, shipping volumes could jump in the second quarter “as consumers scoop up pre-tariff goods before prices go up,” logistics researchers at Cass Information Systems said in their March report. “But thereafter, the trade war is likely to extend the for-hire freight recession as higher prices reduce goods affordability and consumers’ real incomes.”

Overall U.S. exports rose 4.6% through February, federal researchers reported this month, while imports surged 21.4% as the trade war heated up.

The Cass Freight Index fell 5.5% in 2023 and 4.1% last year, “and so far, is trending toward another decline in 2025,” the analytics company said.

Mack Trucks recently announced layoffs of hundreds of workers at a Pennsylvania plant due to economic uncertainty, betting on slower demand for its iconic freight vehicles.

The decision drew sharp criticism last week from Pennsylvania Gov. Josh Shapiro, a Democrat, who said, “I fear that we’re going to see more like this” due to tariffs. “We’re going to see more rising prices, more layoffs, more companies not investing in the future.”

“The economy has COVID,” Fuller wrote in a follow-up X post on Wednesday, in response to downbeat manufacturing data released this week. “The only cure is a deescalation of the tariffs.”

This post appeared first on NBC NEWS

OKLAHOMA CITY — Amazon and Nvidia executives said Thursday that the construction of artificial intelligence data centers is not slowing down, as recession fears have some investors questioning whether tech companies will pull back on some of their plans.

“There’s been really no significant change,” Kevin Miller, Amazon’s vice president of global data centers, said at a conference organized by the Hamm Institute for American Energy. “We continue to see very strong demand, and we’re looking both in the next couple years as well as long term and seeing the numbers only going up.”

The comments run contrary to worrying buzz building on Wall Street about tech companies changing data center buildout plans. Wells Fargo analysts said Monday that Amazon Web Services is pausing some leases on data center commitments, citing industry sources. The magnitude of the pause was unclear, the analysts said, but the comments raised fears that Amazon was doing something similar to Microsoft’s recent move to pull back on some early stage projects.

Miller said “there’s been little tea leaf reading and extrapolating to strange results” about Amazon’s plans.

Nvidia is also not seeing signs of a slowdown, said Josh Parker, the chipmaker’s senior director of corporate sustainability.

“We haven’t seen a pullback,” Parker said. China’s artificial intelligence startup DeepSeek sparked a sell-off in power stocks earlier this year as investors worried that its artificial intelligence model is more efficient and data centers might need as much energy as originally anticipated.

But Parker said Nvidia sees compute and energy demand only rising due to AI, describing the reaction to DeepSeek as “kneejerk.” Anthropic co-founder Jack Clark said 50 gigawatts of new power capacity will be needed by 2027 to support AI. That is the equivalent of about 50 new nuclear plants.

“Anthropic and the other AI companies, what we’re seeing is tremendous growth in the need for new baseload power. We’re seeing unprecedented growth,” Clark said.

The executives were speaking at a gathering of tech and energy companies at a conference in Oklahoma City organized by the Hamm Institute to discuss how the U.S. can address the growing energy needs for AI. There is a growing consensus in both industries that natural gas will be needed to meet the power needs.

This post appeared first on NBC NEWS

OKLAHOMA CITY — Amazon and Nvidia executives said Thursday that the construction of artificial intelligence data centers is not slowing down, as recession fears have some investors questioning whether tech companies will pull back on some of their plans.

“There’s been really no significant change,” Kevin Miller, Amazon’s vice president of global data centers, said at a conference organized by the Hamm Institute for American Energy. “We continue to see very strong demand, and we’re looking both in the next couple years as well as long term and seeing the numbers only going up.”

The comments run contrary to worrying buzz building on Wall Street about tech companies changing data center buildout plans. Wells Fargo analysts said Monday that Amazon Web Services is pausing some leases on data center commitments, citing industry sources. The magnitude of the pause was unclear, the analysts said, but the comments raised fears that Amazon was doing something similar to Microsoft’s recent move to pull back on some early stage projects.

Miller said “there’s been little tea leaf reading and extrapolating to strange results” about Amazon’s plans.

Nvidia is also not seeing signs of a slowdown, said Josh Parker, the chipmaker’s senior director of corporate sustainability.

“We haven’t seen a pullback,” Parker said. China’s artificial intelligence startup DeepSeek sparked a sell-off in power stocks earlier this year as investors worried that its artificial intelligence model is more efficient and data centers might need as much energy as originally anticipated.

But Parker said Nvidia sees computer and energy demand only rising due to AI, describing the reaction to DeepSeek as “kneejerk.” Anthropic co-founder Jack Clark said 50 gigawatts of new power capacity will be needed by 2027 to support AI. That is the equivalent of about 50 new nuclear plants.

“Anthropic and the other AI companies, what we’re seeing is tremendous growth in the need for new baseload power. We’re seeing unprecedented growth,” Clark said.

The executives were speaking at a gathering of tech and energy companies at a conference in Oklahoma City organized by the Hamm Institute to discuss how the U.S. can address the growing energy needs for AI. There is a growing consensus in both industries that natural gas will be needed to meet the power needs.

This post appeared first on NBC NEWS

In this video, Joe highlights key technical setups in select country ETFs that are showing strength right now. He analyzes monthly and weekly MACD, ADX, and RSI trends that are signaling momentum shifts. Joe also reviews the critical level to watch on the S&P 500 (SPX), while breaking down important patterns in the QQQ, IWM, and Bitcoin. As always, he finishes with analysis on your most-requested stocks, applying his trusted multi-timeframe approach.

The video premiered on April 23, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

When the stock market is turbulent, it makes sense to hedge some of your valuable equity positions. One way to do it is through options. 

The adage “Don’t keep all your eggs in one basket” is well-known among investors. While a diversified portfolio reduces your risk, you probably have a handful of favorite stocks that you don’t want to sell. But watching those stocks lose value can be painful.

The good news: There is a way to reduce your losses on those positions.

Hedging With Options

Before diving into the strategies, you need to determine what you want to do with the stocks you want to hold on to. When a market is trending lower, options help protect your investments in the following ways:

  • Protecting your stocks against losses.
  • Generating income from declining stock values. 
  • Realizing profits from declining stocks if the stock moves in your favor.

Before proceeding further, look at all your portfolio holdings and determine which stocks you want to hold on to, then determine your hedging objectives.

This article will focus on the strategies you can implement to protect your stocks against losses. You can do this by buying puts, which are similar to an insurance policy. You pay for downside protection to gain unlimited upside potential.

Here’s how it works.

  1. You buy one put contract for 100 shares of an underlying stock. For example, if you own 100 shares of Apple, Inc. (AAPL), you buy one AAPL put contract; if you own 200 shares of AAPL, you could buy 2 put contracts.
  2. You buy a put with a strike price that could generate a profit that you’re comfortable with on your equity position, and a premium (the price of the contract) that you’re willing to pay to protect your position.
  3. If the stock’s price falls below the strike price, you could sell your put contract for a profit.  You could also choose to exercise your put contract, i.e., selling the underlying shares at the contract’s strike price.

For example, say you bought 100 shares of AAPL for $110 per share. AAPL stock is trading slightly below $205 but hit a high of $259.81. You want to protect your unrealized gains in case the price falls further. Looking at the daily chart of AAPL below, further downside looks highly probable.

The 50-day simple moving average (SMA) has crossed below the 200-day, the StockCharts Technical Rank (SCTR) score is at 32.50, which is relatively low, and the relative strength index (RSI) just below 50, indicating neutral momentum.

FIGURE 1. DAILY CHART OF AAPL STOCK. A declining trend, a technically weak chart, and lukewarm momentum indicate a higher probability of further decline.Chart source: StockCharts.com. For educational purposes.

If you were to buy a put, what strike price and expiration would you choose? That can be a time-consuming exercise, but the OptionsPlay Add-on in StockCharts does it for you quickly. Here’s how.

  • Below the chart, click the Options menu, found under Tools & Resources. You’ll see the Options Chain by default (Options Summary).
  • Click the OptionsPlay button above the Options Chain to access the OptionsPlay Explorer. You’ll see the three optimal strategies listed.

FIGURE 2. OPTIMAL OPTIONS STRATEGIES FOR AAPL STOCK. You could sell 100 shares of AAPL, buy a put, or buy a put vertical spread. You can analyze the three scenarios and determine which one will help protect your equity position.Image source: StockCharts.com. For educational purposes.

The recommended long put (displayed in the middle) is the June 20 $205 put, which will cost $1,170. You have to decide if it’s worth paying this much premium to protect your position in the stock. If the stock price rises above $205 by expiration, your contract will expire worthless. You would have lost $1,170. Are you willing to take that risk?

You can modify the strategy by changing the expiration and strike price of the contract. This will help determine if there are more favorable risk-to-reward scenarios. The following scenarios could play out:

Scenario 1: The stock price falls below $205.

  • You could sell the put option for a profit, which will offset some of the unrealized losses from the decline in the stock’s price.
  • You could also choose to exercise the option and sell the shares for $205. You would walk away with a profit of $8,330 ($9,500 – 1,170).

Scenario 2: The stock price is above $205 by expiration.

  • Your put contract will expire worthless.
  • If you think the stock price will drop as contract expiration gets close, you could roll it to a further-out expiration. You’d sell your $205 June put and purchase another put option with a later expiration.

When buying puts, your maximum risk is limited to what you pay for the premium.

There’s More You Can Do

The strategy on the right shows a put vertical strategy, which has a much lower cost, a higher OptionsPlay score, and a potential reward of $2,145, which is much lower than buying a put.

The put vertical involves adding a lower strike price put with the same expiration. This would be a two-leg options trade—you buy the June 20 205 put and sell the June 20 $175 put.

The benefit of the put vertical is that you limit your risk to $855 (the debit). This will happen if  AAPL is above $205 and both puts expire worthless.

Your potential reward is limited to $2,145 (strike price – debit), which you will realize if AAPL’s stock price falls below $175. The probability of profit of the put vertical is 41.79%, versus 37.48% for the long put.

The Bottom Line

Buying puts and put vertical spreads can protect your options positions in a declining market. You still need to evaluate the cost of protection versus your profit potential, just as you would when you’re shopping for insurance.

The benefit of using the OptionsPlay Add-on is that the legwork is done for you. All you have to do is evaluate the different strategies, which are spelled out for you in simple terms. To learn more about the features available in the OptionsPlay Add-on, visit the StockCharts TV OptionsPlay with Tony Zhang YouTube channel.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your personal and financial situation or without consulting a financial professional.

Pope Francis’ death fires the starting gun on what many see as a battle for the soul of the church – pitting those who want to continue his progressive reforms against a small but powerful group who want to reverse them.

Francis dramatically reshaped the group of prelates who will soon cast their votes for his successor in front of Michelangelo’s fresco of The Last Judgment in the Sistine Chapel.

Only cardinals under the age of 80 have a vote, and he chose most of them.

The first pontiff from the Global South, he decided to rip up the old, unwritten rule book which saw bishops of certain dioceses – most of them in Italy, Europe and the United States – automatically being made cardinals.

Instead, Francis sought to internationalize the College of Cardinals, giving red hats to a host of countries that had never been represented by a cardinal before, such as Tonga, Myanmar, Mongolia, the Central African Republic and Haiti.

His reforms made the body more representative of the global Catholic community, while the cardinals he selected, by and large, share his vision of the Church. All of this makes it more likely that the cardinals will choose a pope who represents continuity with Francis.

But conclaves can throw up surprises and, despite the reforms Francis made, there is a small, yet determined, minority unhappy with the most recent papacy, who will be looking for ways to change course.

Some of the opposition is well funded and the pre-conclave maneuvering has been going on for several years. These cardinals were concerned by Francis’s openness to giving communion to divorced and remarried couples, his welcome to LGBTQ+ Catholics and his strong criticism of what he described as “backwardist” Catholics wanting to take the Church back to a different way.

His critiques of economic inequality and focus on migrants’ rights and the climate crisis jarred with Catholics who wanted a pope to lay down the law on moral teachings.

While in hospital, the pope signed off on a three-year reform process, including how to give greater roles to women in the Catholic Church, including ordaining them as deacons, and the greater inclusion of laity in governance and decision making.

The reforms have been examined through a structure called the Synod of Bishops, which has been the primary vehicle through which the pope has implemented his pastoral agenda during his papacy. In recent years he’s sought to involve Catholics from across the globe in the renewal process.

The big question is how the next pope will continue this process, which is scheduled to continue until 2028.

The debate will likely heat up in earnest after Pope Francis’ funeral on Saturday, as attention then turns to the coming conclave – the start date for which has not been confirmed.

A group to watch carefully are the cardinals over the age of 80 who, while unable to vote, can play an important part in the vital pre-conclave meetings and informal discussions taking place in Roman trattorias or cardinals’ apartments.

A portion of these retired cardinals were not appointed by Francis, and some have opposed the direction in which the first Latin American pope tried to take the Church.

Cardinal Blase Cupich of Chicago and Cardinal Oswald Gracias, the retired archbishop of Bombay could both exercise this “kingmaker” role, as could Cardinal Christophe Pierre, the former papal ambassador to the United States or Cardinal Arthur Roche, a British Vatican official. Then there is Honduran Cardinal Oscar Rodriguez Maradiaga, who is hugely experienced, multilingual and will be supporting a candidate who is in keeping with Francis’ pastoral priorities.

Cardinal Marc Ouellet, the Canadian prelate who for years ran the Vatican’s office for appointing bishops, is also a figure likely to influence proceedings, as could Ghanian Cardinal Peter Turkson, who runs the pontifical academy of sciences, and Cardinal Timothy Dolan of New York. Some of the most critical voices come from among the retired cardinals such as Joseph Zen from Hong Kong, who has been a vocal critic of Francis and the Vatican’s diplomatic rapprochement with China.

There is also a sizeable number of cardinals who may wish to follow the Francis reforms but to do so with a pope who is more predictable and with less of the “shock and awe” of the late pontiff.

Open opposition to reforms

During the Francis pontificate, a group of cardinals took the highly unusual step of publicly challenging the pope over his decision to allow communion for divorced and remarried Catholics while, on two occasions, anonymous memos from unnamed cardinals strongly criticizing Francis were published.

The first was released under the pseudonym “Demos” and later turned out to have been written by Australian Cardinal George Pell, whom Francis had appointed as Vatican treasurer. The second, “Demos II,” accused the late pope of governing in an autocratic style and said the next pontiff must work for the “recovery and reestablishment of truths that have been slowly obscured or lost among many Christians.”

The forthcoming conclave will take place amid the glare of social media and the cardinals will need to make sure they vet candidates closely. One church historian has written about the possible “catastrophe” of a newly elected pope being forced to resign in an imagined scenario where allegations of failing to deal with a sexual abuse complaint suddenly surface online. This papal election takes place in an atmosphere where one allegation, if it sticks, could quickly torpedo a candidacy.

Then there are plenty of forces in the church seeking to influence the vote, many of them well funded, organized and with ties to the United States. In December 2024, a website, titled “The College of Cardinals Report,” was launched giving a breakdown on where the cardinals stand on blessing same-sex couples, ordaining women deacons and “Vatican-China secret accords.” The site comes from groups who are deeply opposed to the Francis pontificate.

And six years earlier, it emerged that a group in the United States was seeking more than $1 million to compile dossiers on candidates in an attempt to prevent a repeat of the conclave that elected Francis. When members of this group, “The Red Hat Report,” presented their project, they portrayed it as an attempt to improve governance and accountability within the Church and said “we may not have had Pope Francis” had it been in existence then.

For several years before the pope’s death, those opposed to his papacy had been discussing how to influence the next conclave. In 2020 two books, both titled “The Next Pope,” were published, both by authors known to be critics of Francis. One of them was even circulated among his peers by Dolan, the US cardinal, despite church laws that say prelates must not publicly discuss possible papal candidates.

A driving force behind some of the pre-conclave maneuvers was Pell, who had a formidable network of contacts and was politically skilled: the Australian prelate had reportedly pushed conservative Hungarian Cardinal Péter Erdő as a papal candidate.

After his conviction for child sex abuse was overturned by the High Court of Australia, Pell returned to Rome and took on an active role preparing for the next conclave. However, Pell’s death in January 2023 at the age of 81 left the opposition to Francis without an obvious leader.

Dividing lines

When the cardinals decide who should be elected pope, various factors will be taken into consideration. A potential dividing line might emerge over the pope’s decision to allow same-sex blessings, with several bishops in Africa and Eastern Europe strongly resisting this move. Would the African and Eastern European cardinals vote as a bloc for a candidate who is sympathetic to their views on this topic?

Francis’ choice of cardinals from very different parts of the world means that some of the papal electors do not know each other that well. Some also do not speak Italian, the working language of the Vatican (although English and Spanish are widely used). This would give an advantage to any candidate who has been able to get to know the cardinals well and has a role convening or leading them during the pre-conclave period.

In 2005, Cardinal Joseph Ratzinger’s guidance of the pre-conclave meetings, his linguistic abilities and the homily he preached at a Mass ahead of the vote played a key part in his election as Pope Benedict XVI.

After the action-packed Francis papacy, there may be other cardinals who, although supportive of the late pope, want someone who is less of a newsmaker and disruptor. They might opt to go for someone low-key.

Nevertheless, it seems likely that whoever is chosen as pope will be expected by Catholics across the world to continue with the major reforms that Francis began, and to try to continue to “institutionalize” the changes that he called for in the Catholic Church.

But don’t discount the determination of those seeking to find any way they can to slam the brakes on the Francis project.

This post appeared first on cnn.com

Multiple people, including children, were injured after a car plowed through a crowd outside a school in eastern China on Tuesday, according to a report from a state-controlled broadcaster.

The car knocked down pedestrians and students outside the school in the city of Jinhua in the province of Zhejiang as classes were finishing for the day, a traffic radio program reported on Wednesday.

The number of people injured and the severity of their injuries is not yet known. It was unclear whether it was an accident or a deliberate act.

Sudden acts of violence targeting random members of the public, including school children, have surged across the country in recent years as economic growth stutters, unnerving a population long accustomed low rates of violent crime and ubiquitous surveillance.

In a video shared by Voice of Traffic, a radio program from state-owned Guangdong Radio and Television, a woman who witnessed Tuesday’s event said the car “just kept rolling down” and “a lot of people were crushed underneath it.”

“People were knocking on (the driver’s) window,” she added.

In a country where the ruling Communist Party prizes stability, officials have often carefully controlled or outright censored information following attacks on the public.

As of Wednesday afternoon, the central government had not commented on the incident and state broadcaster CCTV had not reported on it. Censors have also swooped in to moderate online discussion and remove videos posted to Chinese social media.

Many online users have taken to warning each other to be cautious of random acts of violence. People are said to be becoming more “desperate and unstable” and taking “revenge against society” amid China’s growing economic woes, which now also include the imposition of sky-high tariffs by US President Donald Trump.

In recent months, China has seen several cases of violence against the public. In November, 35 people were killed after a man rammed his car into crowds exercising at an outdoor sports center in southern China, in what was the deadliest known attack on the public in a decade. The same month, multiple students were also injured after a car rammed into people outside an elementary school in the southern province of Hunan.

Eight people were killed and 17 others injured in a mass stabbing at a college campus in eastern China, also in November. Other recent incidents include a stabbing attack near an elementary school in Beijing in October, which injured five people, including three children.

This post appeared first on cnn.com

A 6.2-magnitude earthquake struck off the coast of Istanbul on Wednesday leading to scenes of panic in the Turkish metropolis, officials said.

The quake occurred in the Sea of Marmara close to Silivri, which lies around 70 kilometers (40 miles) to the west of the city, and aftershocks are continuing, according to Turkey’s Disaster and Emergency Management Agency (AFAD)..

Istanbul authorities said there had been no loss of life but that 151 people were injured after “jumping from heights due to panic.”

No residential buildings were damaged, authorities added, but one abandoned building collapsed in the central Fatih District.

In February 2023, Turkey experienced one of its deadliest earthquakes in the last century, when a 7.8 magnitude quake struck 23 kilometers (14.2 miles) east of Nurdagi, in the southern Gaziantep province, at a depth of 24.1 kilometers (14.9 miles).

That quake also hit northern Syria, killing more 50,000 people across both countries.

With two key fault lines in its vicinity – the North Anatolian and the East Anatolian – Turkey is one of the most seismically active regions in the world, a reality that has amplified concern over Istanbul’s earthquake preparedness.

Once the capital of the Byzantine and the Ottoman empires, the densely populated city is home to around 16 million people. It lies precariously close to the North Anatolian fault, which passes within 20 kilometers (12.4 miles) of Istanbul and through the Sea of Marmara, according to the Geological Society of London.

Historically, that fault has led to several disastrous earthquakes, including a 7.6 magnitude quake that struck the nearby city of Izmit in 1999, killing over 17,000 people, and displacing an estimated 500,000 others.

An earthquake occurs when the Earth’s crust shifts abruptly, with energy radiated out as seismic waves and shaking that can violently impact people, buildings and infrastructure.

Those waves and factors related to the shifting ground determine an earthquake’s magnitude, as measured through 10 on the scale most commonly used to describe quakes. An earthquake that measures between 6 and 6.9 is classified as “strong.”

This story has been updated with additional developments.

This post appeared first on cnn.com

Britain’s Prince Louis turned 7 on Wednesday, and a new photo has been released to mark the occasion.

The image was published on the social media accounts of Louis’ parents, Prince William and Catherine, Princess of Wales.

“Wishing Prince Louis a very Happy 7th Birthday!” the caption reads.

The photo, taken by British photographer Josh Shinner, shows Louis sitting on a log, wearing a collared shirt, green V-neck sweater and jeans.

His relaxed smile reveals that he is missing two front teeth.

The photo was also posted on the royal family’s social media accounts, with the message “Happy Birthday to Prince Louis!”

Louis is the youngest of William and Catherine’s three children and is fourth in line to the British throne.

It has become a tradition for the Waleses to mark their children’s birthdays by sharing a new image. Many of the past portraits have been taken by Kate, who is an enthusiastic amateur photographer.

However, in a handful of instances, renowned professional photographers, including Mario Testino, Chris Jackson and Millie Pilkington, have been behind the camera.

This post appeared first on cnn.com

A cardinal convicted of financial crimes by the Vatican is claiming he can take part in the forthcoming conclave despite being listed as a “non-elector.”

Cardinal Giovanni Angelo Becciu, once one of the most powerful figures in the Vatican, was ordered by Pope Francis in 2020 to resign the “rights and privileges” of a cardinal after he became embroiled in a Vatican financial scandal.

The Sardinian cardinal previously held the position of “sostituto” (“substitute”) in the Holy See’s Secretariat of State – a papal chief of staff equivalent.

The role offered Becciu walk-in privileges to see the pope and he commanded huge authority across the church’s central government. He was later moved to a position running the Vatican’s saint-making department.

Becciu was convicted of embezzlement and fraud in 2023 and handed a five-and-a-half-year jail sentence. He is the first cardinal to be convicted by the Vatican’s criminal court.

But the cardinal, who has always maintained his innocence, launched an appeal that’s currently still under consideration. He’s allowed to continue to live in a Vatican apartment while this process is underway.

While the Holy See press office has listed him as a “non-elector,” Becciu told a Sardinian newspaper on Tuesday that “there was no explicit will to exclude me from the conclave nor a request for my explicit renunciation in writing.”

The decision of his participation will likely be decided by the dean of the College of Cardinals, Giovanni Battista Re, and Cardinal Pietro Parolin, who will oversee the conclave proceedings inside the Sistine Chapel.

The investigation into Becciu centered on the Holy See’s disastrous investment in a London property that saw the church lose tens of millions of dollars.

During his papacy, Francis sought to clean up Vatican finances and changed the law to ensure that Becciu, as a cardinal, could be judged by a Vatican tribunal of judges.

Although Becciu lost his rights and privileges as a cardinal, he was never technically removed from the College of Cardinals. He is allowed to take part in the pre-conclave discussions.

Only cardinals under the age of 80 are allowed to vote in a papal election. As it currently stands, there are 135 eligible cardinals who will participate in conclave. Becciu is 76 and still eligible when it comes to his age.

This post appeared first on cnn.com