NEW BRUNSWICK, N.J. , Nov. 22, 2024 /PRNewswire/ -- Magyar Bancorp, Inc. MGYR announced that its Board of Directors has declared a special cash dividend of $0.04, payable December 20, 2024 to shareholders of record on December 6, 2024 . About Magyar Bancorp Magyar Bancorp is the parent company of Magyar Bank, a community bank headquartered in New Brunswick, New Jersey . Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services. Today, Magyar operates seven branch locations in New Brunswick , North Brunswick , South Brunswick , Branchburg , Martinsville and Edison (2). Please visit us online at www.magbank.com . Forward Looking Statements This press release contains statements about future events that constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward- looking terminology, such as "may," "will," "believe," "expect," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks previously disclosed in the Company's filings with the SEC, general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of the Company's pricing, products and services, and with respect to the loans extended by the Bank and real estate owned, the following: risks related to the economic environment in the market areas in which the Bank operates, particularly with respect to the real estate market in New Jersey ; the risk that the value of the real estate securing these loans may decline in value; and the risk that significant expense may be incurred by the Company in connection with the resolution of these loans. In addition, the COVID-19 pandemic continues to have an adverse impact on the Company, its customers and the communities it serves. Given its ongoing and dynamic nature, it is difficult to predict the full impact of the pandemic on the Company's business. The extent of such impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and abated and the extent to which the economy can open and remain open. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. View original content: https://www.prnewswire.com/news-releases/magyar-bancorp-inc-declares-special-cash-dividend-302314561.html SOURCE Magyar Bancorp © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trump taps Charles Kushner, father of his son-in-law, as envoy to France
Class Action Announcement for Celsius Holdings, Inc. Investors: A Securities Fraud Class Action Lawsuit Was Filed Against Celsius Holdings, Inc. - Contact Kessler Topaz Meltzer & Check, LLP
In response to an ultimatum from the Pinellas County (Fla.) Commission last week, Tampa Bay Rays ownership said in a letter Monday that its deal to build a new $1.3 billion ballpark is still "in effect." The letter was the latest salvo in a verbal back-and-forth between the MLB franchise and the county. Rays presidents Brian Auld and Matt Silverman wrote to the County Commission on Nov. 19 and suggested the team would not agree to a deal for a new stadium. The Rays claimed they had spent more than $50 million toward building that new stadium, but the county had allegedly "suspended work on the entire project," making its targeted 2028 opening unfeasible. Last Monday, Pinellas County Court Commission Chairperson Kathleen Peters replied in a letter to Auld and Silverman requesting they declare by Dec. 1 whether they are in or out. "In response to your question regarding the status of the various agreements, they are in effect until a party terminates or outside dates are reached," Silverman responded Monday, with Dec. 1 now past. "The Rays have fulfilled its obligations to date and continue to wait for decisions and actions by the City of St. Petersburg and Pinellas County." "We would not have gone forward with the project if a future Pinellas County Commission had the ability to revoke the approval we all celebrated in July or to unilaterally delay the project's completion into 2029." Silverman also fired back at Peters for bringing up a conversation Auld had with Pinellas County Commissioner Brian Scott last month, prompting the county to allege that Auld was not committed to following through on the project. "The conversation primarily concerned the near-term challenges to our business given the damage to Tropicana Field as well as the dynamics related to the location of our home games in 2025," Silverman wrote Monday. "Brian Auld did not waver from our commitment to the new ballpark project." It is unclear how the county will proceed. The Pinellas County Commission already voted 6-1 last month to put off its final decision on whether to approve bonds until Dec. 17. Regardless of what happens in the Rays' long-term planning, the club will not play its 2025 home games in St. Petersburg after Tropicana Field was heavily damaged by Hurricane Milton in early October. The team will instead welcome opponents to Tampa's George M. Steinbrenner Field, the spring training home of the New York Yankees. --Field Level Media
President-elect Donald Trump on Saturday nominated Charles Kushner, the father of his son-in-law Jared Kushner, as the US ambassador to France, in the latest of several controversial picks. Kushner "is a tremendous business leader, philanthropist, & dealmaker, who will be a strong advocate representing our Country & its interests," Trump said on his Truth Social website, adding that Jared "worked closely with me in the White House." The choice is in keeping with Trump's pattern, so far, of selecting people, often wealthy, who are close to his family or of proven loyalty. Kushner is a multimillionaire real estate executive and former attorney; his son was a senior adviser during Trump's first term. Trump did not mention, however, that the elder Kushner once served jail time -- a two-year sentence, most of it served in a federal prison. Kushner, who is now 70, pleaded guilty in 2004 to 18 counts of tax evasion, witness tampering and making illegal campaign contributions. The case, which was prosecuted by then US attorney Chris Christie, included sordid details, to which Kushner admitted: that he had hired a prostitute to seduce his brother-in-law, a man cooperating in a campaign finance inquiry, and then videotaped the encounter and sent it to the man's wife, Kushner's sister, to dissuade her from testifying against him. Christie, who worked on Trump's first presidential transition team and then opposed him in this year's Republican primary contests, later said Kushner had committed a "loathsome" and "disgusting crime." In 2020, Trump issued a pardon to Kushner, whose conviction had resulted in him being disbarred in three states. Nominees for key ambassadorships are often business associates of a president-elect, or major political donors. But it is rare, if not unprecedented, to name a convicted felon. The first two men to fill the prestigious Paris post were famed inventor and statesman Benjamin Franklin and a future president, Thomas Jefferson. If confirmed, Kushner would succeed Denise Bauer, a former ambassador to Belgium who was a major Democratic fundraiser and donor. md/bbk/md
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President-elect Donald Trump on Saturday nominated Charles Kushner, the father of his son-in-law Jared Kushner, as the US ambassador to France, in the latest of several controversial picks. Kushner "is a tremendous business leader, philanthropist, & dealmaker, who will be a strong advocate representing our Country & its interests," Trump said on his Truth Social website, adding that Jared "worked closely with me in the White House." Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Daily Post Nigeria Tinubu urges politicians to emulate late Wayas Home News Politics Metro Entertainment Sport News Tinubu urges politicians to emulate late Wayas Published on November 30, 2024 By Asare Asare President Bola Tinubu had called on Nigerians, particularly the political elite, to emulate the virtues of the former Senate President, late Dr Joseph Wayas, who was buried in his home town of Bassang in Obanliku LGA of Cross River State on Saturday. Wayas died in London on November 30, 2022 at the age of 80. He was Senate President from 1979 to 1983. The President said that the late Wayas lived for the unity of the country and described him as a peaceful man whose public service records remain indelible. The president was represented by the Secretary to the Government of the Federation, Sen. George Akume Also speaking at the funeral, which had an array of dignitaries and politicians in attendance, was the Cross River State governor, Bassey Otu. He said that the state will uphold and remember the legacy of Wayas. He said Wayas had emphasised love and unity of the country while alive, recalling how influential he was. “It is not merely about the duration of one’s life but the profound influence one has on their era. “On behalf of Cross River State, we pay tribute to you for placing us on the national stage. We shall forever cherish your accomplishments and strive to follow in your footsteps,” he concluded. During the night of tributes held at the U.J. Esuene Stadium on Friday, the President of the Senate, Godswill Akpabio had urged the bereaved family to eschew bitterness and acrimony and emphasise peace, love and unity in order to sustain the legacies which the deceased left. “Now that the government of Cross River has taken the bull by the horns to bring his remains to touch this land, this should be the beginning of unity, peace and true love in that family so that, truly, we can all honour the legacies Wayas left behind,” he said. Related Topics: Tinubu Wayas Don't Miss Nigeria needs listening leaders who don’t act like they know it all – Peter Obi You may like Why we passed Tinubu’s tax reform bills for second reading – Deputy Senate President Tinubu on mission to transform Nigeria like he did in Lagos – French President Macron WTO: Nigeria’ll support you – Tinubu tells Ngozi Okonjo-Iweala on reappointment ‘North will not be party to Tinubu’s Tax Reform Bills’ – Borno Gov, Zulum Arewa youths back Senate on passage of Tinubu’s Tax Reforms Bills for second reading Tinubu Tax Reform bills will bring backwardness to North, benefit only Lagos – Zulum Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media LtdAssad flees Syria for Moscow as rebels seize Damascus
Parsippany, NJ, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ: LINC), a national leader in specialized technical training for more than 75 years, today announced that it has signed a lease for a new campus in Hicksville, New York, representing the Company’s second campus in New York and 11 th in the tri-state area. The campus demonstrates a commitment to its strategic growth plan, and follows the successful launch of the Company’s newest campus in East Point, Georgia earlier this year. The Hicksville campus is expected to commence operations towards the end of 2026 and will focus on preparing students for hands-on careers in high-demand industries. The 65,000 square-foot training center will offer specialized career training in automotive, welding, HVAC and electrical and electronics fields. This new facility will increase Lincoln’s presence in the tri-state, complementing its closest flagship automotive campus in Queens, New York which has been operating for nearly 20 years. With demand for approximately 54,000 talented automotive technicians by 2030, the State of New York is certainly a region with abundant employment opportunities to meet strong student demand. 1 “Our 11 th campus in the tri-state area is an exciting development and represents significant growth potential for Lincoln as we plan to leverage our brand name in the region where we have successfully operated for over 75 years and have seen thousands of students graduate and start careers in in-demand fields,” commented Scott Shaw, President and CEO. “Our recently launched campus in East Point, Georgia has generated tremendous interest, and its performance has exceeded our expectation as it became profitable within its first year of operations. We plan to deploy and incorporate the same ‘wow’ factor at the Hicksville campus to deliver exceptional training in a state-of-the-art facility, featuring modern classrooms and equipment. The East Point performance is very encouraging and we are optimistic that the Hicksville campus also has great potential.” 1 National Center for O*NET Development. New York Employment Trends: 49-3023.00 - Automotive Service Technicians and Mechanics. O*NET OnLine. Retrieved January 9, 2023, from https://www.onetonline.org/link/localtrends/49-3023.00?st=NY&g=Go ### About Lincoln Educational Services Corporation Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults career-oriented programs in five principal areas of study: automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946 and currently operates 22 campuses in 14 states. For more information, go to lincolntech.edu.* Brazil to seek corporate income tax adjustment in 2025 * Analysts boost Mexico GDP forecast, c.bank survey shows * MSCI Latam FX index down 1.2%, stocks down 1% (Updates with afternoon trading) By Pranav Kashyap and Johann M Cherian Dec 2 (Reuters) - Most Latin American currencies started the last month of the year on a dour note on Monday, with the Brazilian real continuing its downward trajectory following a fiscal package that failed to satisfy market expectations. The Brazilian real fell 1.6% to 6.06 against the U.S. dollar, hovering near record lows it reached on Friday. The local benchmark equities index also lost 0.1%. The currency experienced its steepest weekly decline in nearly five months on Friday as the anticipated fiscal package announced last week, which included a tax exemption, disappointed investors and triggered a sell-off in Brazil's public markets. On the day, the country's deputy finance minister said the government has committed to adjusting corporate income tax as part of broader reform discussions, adding that a debate on the matter would likely happen in 2025. Expectations of fiscal instability in the country has weighed on the real despite the local central bank hiking interest rates. "For now, the (central bank) will continue with its tightening cycle in the next few months and continue to support the BRL in the face of worries about fiscal policy," strategists led by Thierry Wizman at Macquarie said. "But rate hikes are likely to be partly reactive to a higher USD/BRL nonetheless, and their effectiveness will be a far cry from being enough to reverse the BRL depreciation that's taken place since April." Brazil's incoming central bank chief, Gabriel Galipolo, noted that the current economic scenario suggests "higher interest rates for longer," and emphasized that exchange rate policy would continue to focus on intervening only during times of dysfunction. More broadly, MSCI's index for Latin American currencies dropped 1.2%, while the stocks index was down 1% on the day. Further dampening sentiment, U.S. President-elect Donald Trump demanded that BRICS nations, including Brazil, commit to not creating or supporting a currency to replace the dollar, threatening 100% tariffs as a consequence. The Mexican peso came off session lows and was last down at 20.39 to the greenback. Mexico's economic calendar is relatively light this week, with only addresses from the finance minister and central bank head scheduled for Thursday. The local equities index rose 1.3% and touched a one-week high. A survey showed private sector analysts raised their expectations for economic growth in the region's second largest economy to 1.53% this year, up 13 basis points from their prior forecast a month earlier. Currencies of copper exporters Chile and Peru weakened 0.5% and 0.1% respectively as prices of the red metal slipped. Separately, data out of Chile showed economic activity in the world's largest copper producer rose 2.3% year-over-year in October, slightly below the expectations for 2.5%. Among other bourses in the region, Argentina's Merval index rose 1.6%, while Chilean stocks added 0.9%. Key Latin American stock indexes and currencies: Latin American market prices from Reuters MSCI Emerging Markets 1086.5 0.74 MSCI LatAm 1978.28 -1.02 Brazil Bovespa 125572.87 -0.08 Mexico IPC 50441.37 1.26 Chile IPSA 6639.86 0.96 Argentina Merval 2295431.5 1.644 1 Colombia COLCAP 1394.1 0.14 Brazil real 6.069 -1.61 Mexico peso 20.396 -0.17 Chile peso 977.93 -0.49 Colombia peso 4457.5 -0.56 Peru sol 3.7425 -0.12 Argentina peso (interbank) 1011 0.00 Argentina peso (parallel) 1080 3.57 (Reporting by Pranav Kashyap and Johann M Cherian in Bengaluru; editing by Jonathan Oatis and Alistair Bell)None
In rare move, House of Commons Speaker pauses lengthy Parliament standoffChinese leader Xi Jinping is selling optimism, but China isn’t buying. Over the past four months, his government has repeatedly announced stimulus measures to revive the country’s stumbling economy, while claiming that everything is going splendidly. Then, when those policies prove inadequate, the stock market sinks, the economy lingers in the doldrums, and Xi tries again. That pattern started to reemerge last week after the Chinese leadership’s annual conclave on economic policy. Xi declared in his keynote speech during the December 11-12 conference that “the economy is stable and making progress . . . and the main economic and social development goals and tasks are about to be successfully completed.” The conference communiqué announced that the most important policy task in 2025 will be to “vigorously boost consumption” through “moderately loose monetary policy” and “more active fiscal policy.” The reception was decidedly mixed. Echoing many other observers, investment bank Morgan Stanley called the government announcement the “most aggressive stimulus tone in a decade,” but also said that “implementation remains uncertain.” In the absence of concrete details accompanying the announcement, China’s stock markets immediately tanked . In a country that lacks other outlets for public opinion, it was a clear vote of no confidence. This lack of confidence should come as no surprise. Amid economic problems that include weak household consumption and anemic business investment , a property market collapse , high youth unemployment and deflation , the Chinese government is not facing up to a root cause of the downturn. It has spent five years stifling the country’s once-dynamic private sector . Policies that favor state-owned enterprises and give center stage to state planning have come at the expense of a market economy hit by tight regulation and Chinese Communist Party interference. “Building entrepreneurial confidence depends primarily on the reform direction, not on the strength of monetary policy stimulus,” said Zhang Weiying, a leading Chinese professor of economics, in an August speech . “However, recent practices suggest that focusing solely on [monetary and fiscal] solutions cannot fundamentally resolve China’s economic challenges.” There is also an important international dimension to the policy choices Xi faces. China is the largest driver of global demand, and many countries need China to sustain a high level of import demand. But imports have been falling as the economy struggles, and Beijing has relied on export growth to keep China’s manufacturers alive. As a result, trade tensions are rising as a flood of Chinese goods hits both advanced and emerging market economies. And with President-elect Donald Trump threatening new US tariffs against China, the Chinese government will need to look to domestic drivers of growth. The government certainly can do more to boost demand. The stimulus measures taken since September have focused on increasing credit , supporting local-government purchases of China’s vast store of unfinished or unsold homes, and restructuring the massive debt of local governments. In addition, Beijing is spending heavily on developing advanced technologies and building infrastructure, but the benefits of those expenditures—especially for more roads and railways —appear to be more limited than in the past. Most importantly, corporate and household borrowing has failed to gain momentum despite the easy credit—a sign of the depressed confidence that has undercut consumption and investment. Weak November retail sales and home sales figures show that, as far as consumers are concerned, it’s not nearly enough. The true scale of the economic downturn has recently received attention in China through widely circulated comments by private sector economists. Earlier this month, Gao Shanwen, chief economist at SDIC Securities, was quoted as saying that post-pandemic China is “full of vibrant old people, lifeless young people, and despairing middle-aged people,” and he suggested that as many as forty-seven million people are unable to find formal work in China’s cities. Gao also estimated that the country’s economic growth over the past three years may have been overstated by 10 percentage points. Meanwhile, Fu Peng, an economist with Northeast Securities, highlighted the plight of the country’s poor, saying on December 4: “Whenever the economy contracts, it’s those at the bottom who suffer the most at first. However, that barely has any impact on the macroeconomic data.” Not long ago, such critiques would have been just a small part of a wide-ranging policy debate that used to take place in China. But now, in the country’s current climate of strict control over all policy discussions, both economists’ remarks were removed from the Chinese internet after a few days and their social media accounts were restricted. Public criticism of government economic policies has not been limited to private sector economists. “In recent years, the lack of effective demand in China can . . . be attributed to the government failing to return income to the public while itself also not actively spending,” said Xu Gao, chief economist at the state-owned Bank of China International in a September speech . The Chinese government’s economic policy communiqué last week does speak of a “greater focus on benefiting people’s livelihood.” But it only cited a program introduced at an earlier stage of the stimulus effort to subsidize trade-ins of cars and household appliances. There was no new reference to income subsidies or other initiatives to directly assist China’s unemployed and underemployed, especially those in the construction and real estate industries who have lost work and millions of recent university graduates who are unable to find jobs. There also has been no talk of using the government’s central bank digital currency to make direct payments to consumers. Since China’s middle class can buy only so many refrigerators and electric vehicles—even with government subsidies—the big question is whether Beijing is prepared to consider a wider effort to support consumers. However, Xi previously has expressed skepticism about “welfarism,” and he has spoken positively of his own experience during China’s Cultural Revolution of having to “ eat bitterness .” So, public assistance may prove a bridge too far for a party that rose to power nearly eighty years ago claiming to represent China’s less fortunate citizens. Perhaps it will take another shock to the system—for example, a sharp drop in exports—to jolt China’s rulers out of their current failing approach. Jeremy Mark is a nonresident senior fellow with the Atlantic Council’s GeoEconomics Center. He previously worked for the International Monetary Fund and the Wall Street Journal Asia. Follow him on X: @JedMark888 .
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