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Its strategy may lie in ruins, but Hizbollah will not admit defeat

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The writer is author of ‘Black Wave’, distinguished fellow at Columbia University’s Institute of Global Politics and an FT contributing editor

The pager attack and Israeli missile strikes against Hizbollah targets have revealed deep and embarrassing security breaches within a group that long prided itself on the discipline and loyalty of its members. 

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The start of the Israeli bombing campaign against Lebanon on Monday punctured what was left of the longstanding narrative Hizbollah has sold to its base: that it can protect them and deter Israel. But events of the past week have also brought back to the surface deep schisms inside Lebanon and across the region about its role as a state within a state and a heavily armed regional paramilitary group. 

Former CIA chief Leon Panetta described the pager attacks as a form of terrorism, with “terror going into the supply chain.” The long-term consequences, beyond Lebanon, of booby-trapping everyday objects on a large scale will unfold over time. In Lebanon, meanwhile, the terror was felt on a national level, in a small country, where sirens wailed for hours and panicked mothers unplugged their baby monitors. 

There was a brief moment of general compassion. Political opponents expressed sympathy and said politics should be set aside for now. Lebanese of all confessions rushed to donate blood. It was the kind of compassion Hizbollah itself has never afforded its opponents — not in Lebanon, where it stands accused of assassinating former Prime Minister Rafiq Hariri and scores of others, nor in Syria, where it participated in the bloody civil war on the side of Bashar al-Assad. 

Syrian dissident and intellectual Yassin Al Haj Saleh wrote on X that while schadenfreude among his compatriots in the wake of the pager attack was not something to be proud of, it was an understandable reaction. Syrians, he said, had been “killed, besieged and starved” by Hizbollah as it “helped a genocidal regime”. Shockingly, the gloating continued on Monday even as almost 600 people were killed in Israeli strikes, the deadliest single day in Lebanon since the civil war. 

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Hizbollah is now fighting without the popular and regional support it had during the previous face-off in 2006, when its leader Hassan Nasrallah became hugely popular in the region for staring down Israel. Assad, who owes his regime’s survival to Hizbollah and its patron Iran, as well as Russia, is missing in action. In New York, Iranian officials have signalled that they’re open to negotiations with the US.

Israel will see all this as an opportunity. Prime Minister Benjamin Netanyahu might think it also means the Lebanese will rise up against Hizbollah, or that the latter will relent as losses mount. But while its strategy might lie in ruins, Hizbollah will not admit defeat. And the Lebanese are too scared and tired to rise up in the middle of a war. There will also be a natural rallying together against Israel. Many Lebanese who oppose Hizbollah have also watched with horror as Gaza has been bombarded and flattened. 

When Hizbollah launched rockets against Israel on October 8 last year in support of Hamas and Gaza, it tied Lebanon’s fate to a ceasefire in Gaza. But it never expected the conflict to last this long. Both Hizbollah and Iran repeatedly signalled that they didn’t want all-out war. They had settled into a balance between deterrence and a war of attrition — until last week, when Israel dramatically shifted gear.

In 2006, after a devastating war between Israel and Hizbollah which destroyed much of the country’s infrastructure and killed 1,200 Lebanese civilians, Nasrallah admitted that he would not have ordered the capture of Israeli soldiers on the border if he had known it would provoke such a devastating conflict. Today, Lebanon, a country with no president, a caretaker cabinet and barely functioning institutions, stands on the precipice of another devastating conflict.

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There is a short window for international diplomacy to find a face-saving formula that would allow Hizbollah to extricate itself from the Gaza conflict and stand down for the sake of Lebanon. This would require, however, the kind of national coalition building inside Lebanon that historically has proven hard to achieve. Crucially, it also entails the Biden administration obtaining iron-clad guarantees from Israel that it too will step back.

Alas, 11 months into the war in Gaza, Joe Biden has shown himself unable or unwilling to extract promises from Netanyahu. And he will be even more loath to do so with an American presidential election just over a month away. 

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Siemens Gamesa factory in Hull wins £1bn wind turbine contract

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Siemens Gamesa factory in Hull wins £1bn wind turbine contract

A Hull factory will supply wind turbine blades for Scottish Power in a contract worth more than £1bn.

Siemens Gamesa will manufacture the blades for 64 turbines, which will be installed at the East Anglia TWO windfarm off the Suffolk coast.

Darren Davidson, UK head of Siemens Energy and Siemens Gamesa, said the deal would allow the firm to plan for the long term in Hull and was a “real positive” for job security.

Charlie Jordan, chief executive of Scottish Power Renewables, said the £4bn windfarm would provide enough green energy to power more than a million homes.

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The Hull factory employs about 1,300 people, having recruited more than 600 over the past 12 months.

Engineering apprentices Charlotte Harber, 18, and Dane Glenn, 21, are among young people building careers at the plant.

Mr Glenn said it meant “quite a lot” to be part of a team helping to provide clean energy for the country.

“It’s providing for the next generation,” he added.

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Ms Harber said: “It’s important for the future. It’s the biggest thing around.”

The factory will manufacture 377ft (115m) blades for the windfarm, which will be built about 20 miles (about 32km) out to sea.

Mr Davidson described the deal as a “magnificent order” and said the factory was “acting as a catalyst for economic growth and green jobs across the region”.

“We’re really active in trying to get future orders so we can continue to support the growth in offshore wind and making that product here in Hull,” he added.

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The deal comes after Scottish Power announced plans to double its investment in the UK, from £12bn to £24bn, by 2028.

East Anglia TWO is one of three windfarms being developed by the company off the coast of Norfolk and Suffolk. When completed, it is expected they will provide enough green electricity to power the equivalent of more than three million homes.

Keith Anderson, chief executive of Scottish Power, said: “Getting more projects like East Anglia TWO off the blocks quicker will turbo-boost the UK’s supply chain, giving companies like Siemens Gamesa the confidence to invest in facilities like this blade factory in Hull.”

Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.

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How to Invest £10k for 7% Yield & Passive Income in 2024

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What is the Average Credit Score in the UK

How I’d Invest £10k to Target a 7% Dividend Yield and Build Passive Income

Here’s a strategy to build a high-dividend-yield portfolio aimed at generating long-term passive income. The London Stock Exchange is known for offering attractive dividend opportunities, with a range of mature companies providing income-generating stocks. Despite the 2024 stock market rally lowering overall yields, there are still plenty of opportunities to seize.

With that in mind, here’s how I’d structure a £10,000 portfolio in 2024 to achieve a 7% yield.

Quality over Quantity An easy way to create a high-yield portfolio is simply to fill it with high-dividend stocks. Currently, over 30 companies across the FTSE 350 offer yields of 7% or more, providing plenty of options for a diversified portfolio. Many of these companies are yielding above 7%, which could push passive income even higher. However, this approach often doesn’t deliver lasting investment returns; there’s a risk of destroying wealth instead of creating it.

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It’s essential to remember that dividend yield is impacted by share price. When a company’s market cap drops, the yield increases, often signaling underlying issues. Therefore, it’s usually better to prioritize the quality of dividends over the quantity, even if this means selecting stocks with slightly lower yields. But then, how can we raise the yield back to the target of 7%?

The key lies in focusing on a company’s free cash flow. This is the surplus cash left after covering all expenses and financial obligations, allowing companies to pay down debt, reinvest, buy back shares, or pay dividends. Strong free cash flow not only provides flexibility but can lead to dividend hikes, gradually turning modest yields into more substantial ones.

From Modest to Impressive Dividends A standout example of free cash flow growth within the FTSE 350 is Safestore Holdings (LSE: SAFE), a company worth considering. Safestore owns and operates self-storage facilities for both individuals and businesses. While opening new locations is costly, the ongoing expenses for these facilities are relatively low, with steady monthly revenue streams. This has allowed Safestore to maintain impressive free cash flow margins, averaging around 55%.

This financial strength has enabled Safestore to increase its dividend for nearly 15 consecutive years, with payouts rising by an average of 17.4% annually. How has this affected its dividend yield?

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In November 2014, Safestore shares traded around 212p, with dividends at 7.45p, yielding a modest 3.5%. Today, the payout per share is closer to 30p, which means that on an initial cost basis, the dividend yield has grown to 14%.

Safestore isn’t the only company to achieve consistent dividend growth, and there are other similar stocks on the UK market with potential for high dividend growth. That’s why, if I had £10,000 to build a passive income portfolio now, I’d skip the obvious high-yield stocks and focus on those with the potential for sustainable dividend growth over the long term.

Disclaimer

The information provided in Finance Monthly is for informational purposes only and should not be construed as investment advice. All content, including articles, interviews, and analysis, reflects the opinions of the authors and does not necessarily represent the views of Finance Monthly.

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Investing in financial markets involves risks, including the loss of principal. Past performance is not indicative of future results, and there is no guarantee that any investment strategy will be successful. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.

Finance Monthly is not responsible for any losses or damages arising from reliance on the information contained herein. By accessing this publication, you acknowledge and accept these terms.

 

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Rentiers rule, OK?

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Rentiers rule, OK?

Bank Rate works in mysterious ways

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The jobs nobody wants to do – but pay £53k and you don’t need a degree

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The jobs nobody wants to do – but pay £53k and you don’t need a degree

WORKERS without a degree can earn more than £53,000 a year if they’re willing to do a job no one wants to do.

If it’s a job that not many people are interested in doing, then it might mean the company is willing to pay you more.

Workers without a degree can earn more than £50,000 doing one of these jobs

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Workers without a degree can earn more than £50,000 doing one of these jobsCredit: Getty
Adunza has revealed the highest paying jobs that nobody wants to do

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Adunza has revealed the highest paying jobs that nobody wants to do

Many of the most unpopular jobs pay considerably more than the average advertised salary of £37,697, exclusive data from career search engine Adzuna showed.

The site looked at more than one million vacancies to find the openings that had the lowest interest from job hunters and found that 20 don’t require a degree.

Many of the roles could be great options for workers in similar industries or looking for a career change, according to Adzuna.

And the top of the list is an estate planning consultant, which can earn as much as £53,327.

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An estate planning consultant, or will writer, helps individuals and families organise and manage their assets and affairs to ensure that their wishes are carried out after their death.

This includes advising on wills and trusts, tax planning, asset protection and succession planning for those who own a business.

To do this job, you will need to have strong communication, organisational and administrative skills.

Plus, having an estate planning certification is also preferred.

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The second highest paid is a maintenance engineer technician role which takes home £41,434 a year.

Maintenance engineer technicians look after, fix and repair mechanical and electrical systems in factories and commercial buildings.

They make sure equipment runs smoothly and safely to reduce downtime and improve performance.

I binned uni & ignored haters saying my job’s ‘silly’ – now I’m a young mum in Marbella with 2 million-pound companies

Anyone wishing to do this job will need to do an apprenticeship or college course, first, in a field such as mechanical engineering.

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The third top spot is a street lighting electrician, which earns around an average of £41,433.

You will need to have an NVQ level three in engineering or an apprenticeship to do this role.

In this job, workers need to install, maintain and repair street lighting and other outdoor electrical equipment.

At the other end of the scale, is a speech and language teaching assistant which is paid an average of £23,991.

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Speech and language teaching assistants support speech therapists and teachers by working with students to improve language, communication, and social skills. 

For this job, experience working with children in primary school is essential.

While a crossing guard could take home slightly more at £25,507, and a bindery operator could get £25,787.

Crossing Guards manage traffic, guide pedestrians, and report unsafe conditions to ensure pedestrian safety at busy intersections, particularly for school children. 

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You don’t need to have had any formal training to do this role, but things like physical stamina and healthy vision and hearing are essential.

While a bindery operator handle machinery that binds books, pamphlets, and other printed materials. Their tasks include setting up auxiliary binding machines equipment, troubleshooting issues, and performing quality control checks.

This job requires basic maths knowledge, skill in using machinery and good hand-eye coordination and attention to detail.

Some of the more random jobs also included a Coffee Machine Service Engineer for £32,285, a Commercial Tyre Fitter at £30,735, and a Baby Room Leader (£28,671).

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Less interest in the roles means job searchers are likely to have more success because there are fewer rivals for each opening.

Many of the roles could be great options for workers in similar industries or looking for a career change, according to Adzuna.

Andrew Hunter, co-founder of job search engine Adzuna, said: “Competition among jobseekers in the UK is incredibly intense, with jobseekers per vacancy reaching a three-year high this September, according to Adzuna UK job market report.

“However, there are plenty of opportunities out there that are often overlooked by jobseekers, and many of them have no degree requirement and offer salaries over £40,000.

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“Pursuing these lower-competition jobs not only increases the chances of getting hired but also potentially opens up opportunities for faster career growth and greater job security in the long term.”

The highest and lowest-paid jobs of 2024 have been revealed with top company bosses once again taking home the biggest salaries.

Plus, we’ve also revealed the 20 highest-paying jobs where you don’t need a degree.

Tools to use to help you write your CV

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HERE are some tools and apps that can help you put together your CV:

  • Resume app: If you struggle formatting your CV, you can choose from 21 templates in the Resume app to help you. And once you’ve put it together, you can export it as a PDF directly to your email. Resume is free to download and use, but has additonal premimum options that you can pay for.
  • Grammarly: It’s important to get your spelling and grammar accurate, so run your CV through a tool such as Grammarly to check for any errors. It’s free to download straight to your desktop.
  • Vizualize.me: If you’ve got an exisiting LinkedIn account, Vizualize.me takes the data and turns it into a timeline of your employment history and a breakdown of your skills. The free tool has six different themes so it’s a good option to make your CV look visually appealing as well.
  • VisualCV: As well as making your CV look eye catching, VisualCV also makes sure it can be read by electronic systems that some recruiters use to filter CVs. It’s also free to sign up for.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

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Travel

Cathay Pacific to resume Hyderabad flights

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Cathay Pacific to resume Hyderabad flights

The oneworld carrier will deploy a two-class A330-300 to the Indian city

Continue reading Cathay Pacific to resume Hyderabad flights at Business Traveller.

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Unemployment rises as pay growth slows again

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Unemployment rises as pay growth slows again

The UK’s unemployment rate has risen, official figures suggest, while pay growth continues to slow.

The rate of unemployment stood at 4.3% in the three months to September, up from 4% the previous quarter.

However, the Office for National Statistics (ONS) urged caution over giving too much weight to its latest jobs figures due to issues with how it gathers the data.

While wage growth has eased, pay is still rising faster than inflation, which measures the rate of price increases.

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