In the midst of Italy's World Cup triumph and Barcelona's dominance, Lionel Messi was a budding talent at Barcelona's youth academy, La Masia. Fast forward to 2024, and Messi, now a footballing icon, experienced his first international omission in 18 years. It served as a stark reminder of the fleeting nature of success in football and the inevitable passage of time. Despite this setback, Messi's legacy as one of the greatest players of all time remains intact, a testament to his unparalleled skill, dedication, and longevity in the sport.

In the midst of Italy's World Cup triumph and Barcelona's dominance, Lionel Messi was a budding talent at Barcelona's youth academy, La Masia. Fast forward to 2024, and Messi, now a footballing icon, experienced his first international omission in 18 years. It served as a stark reminder of the fleeting nature of success in football and the inevitable passage of time. Despite this setback, Messi's legacy as one of the greatest players of all time remains intact, a testament to his unparalleled skill, dedication, and longevity in the sport.

Imran wants a clear timeframe for results on PTI’s demands: Barrister GoharNATO chief urges European allies to ramp up defense spending as Trump returns to White House

Lawyer says ex-Temple basketball standout Hysier Miller met with NCAA for hours amid gambling probeAs the resistance grows, the voices of 77 Nobel laureates serve as a powerful symbol of the enduring commitment to the pursuit of knowledge, truth, and progress. Their unified stance sends a clear message that the scientific community will not stand idly by as the integrity of science is compromised and the future of our planet is put at risk.

FPGA-Accelerated LLMs: The Future of AI Inferencing is HereTo truly unlock his potential, Mbappé may need to consider a move to a different club or league where he can be the focal point of the team and face new challenges that will push him to improve and evolve as a player. While staying at PSG may offer Mbappé financial security and the chance to win domestic titles, it may also limit his growth and prevent him from reaching the heights that many believe he is capable of.In the grand tradition of Italian art and history, a cinematic masterpiece is set to grace the silver screens worldwide as "Botticelli, Florence, and the Medici Family" takes center stage. This highly-anticipated film offers a mesmerizing journey through the captivating world of Sandro Botticelli, the enchanting city of Florence, and the illustrious Medici family. With pre-sales opening today, audiences are buzzing with excitement for the film's premiere on December 13th.

In response to these discussions, Jokic himself has expressed his admiration for his teammates and emphasized the importance of teamwork and sacrifice in achieving success on the court. He has downplayed the significance of his individual scoring achievements, instead focusing on the collective efforts of the team and their shared goal of winning a championship. Jokic's humility and team-first mentality have resonated with fans and analysts alike, further solidifying his status as a beloved and respected figure in the NBA.Among the most notable objections raised by the Nobel laureates are the appointments of climate change deniers and individuals with close ties to the fossil fuel industry to key positions overseeing environmental policy. This move has been widely condemned as a betrayal of the scientific consensus on climate change and a dangerous shift away from evidence-based decision-making.

Title: A-shares Hit Over 200 Billion RMB Trading Volume in First 10 Minutes of TradingHow NATO's capital cities would be vaporised by Putin's nukes: Chilling nuclear bomb maps show potential impact of Russia's weapons - with a million killed in London alone By DAVID AVERRE and JAMES REYNOLDS Published: 03:13 AEDT, 9 December 2024 | Updated: 03:20 AEDT, 9 December 2024 e-mail View comments Ever since the frenzied nuclear arms race between the United States and the Soviet Union that characterised the Cold War, humankind has held the horrifying power to erase itself from existence in a radioactive firestorm. Despite various multilateral arms limitation treaties, the number of nuclear warheads held by the two most well-armed powers - the US and Russia - still sits well into the thousands, more than enough for total mutually assured destruction. In the event of a large-scale nuclear launch from any state, its foes would almost certainly let loose their own doomsday machines, turning much of the globe into a nuclear wasteland. But Vladimir Putin 's decision to hit Ukraine with a never-before-seen hypersonic, nuclear-capable missile last month forced world leaders and military chiefs to confront a new possibility - that of a single, well-placed strike on a target in the West or one of its allies. Though early warning systems would hopefully detect a missile launch directed at the West, giving defensive networks a chance to intercept, there remains a scenario in which a major Western city could suffer an isolated attack. With the help of a model produced by Alex Wellerstein , a professor and historian of nuclear technology, MailOnline examines the devastating effect of a single Russian Topol-M SS-27 ICBM if detonated above some of Europe and America's major population centres. The Topol is by no means Russia's most devastating nuclear weapon - the likes of the RS-36 'Satan' ICBM carries multiple warheads each with a yield orders of magnitude greater. But the modern Topol missile's warhead still comes with an estimated yield of roughly 800 kilotons - more than 50 times the power of the first atomic bomb dropped on Hiroshima in 1945. Topol-M intercontinental ballistic missile test-launched from a missile silo at Plesetsk Cosmodrome In the event of a large-scale nuclear launch from any state, its foes would almost certainly let loose their own doomsday machines, turning much of the globe into a nuclear wasteland Topol-M missile at a Victory Day parade in Moscow, Russia The following estimations of casualty figures and damage reports are based on the event of a Topol-M 800-kiloton warhead exploding a few hundred feet above the ground. The figures do not take into account the untold numbers of people who would perish following days, weeks or months of the blast from the effects of acute radiation sickness amid the radioactive fallout, lack of access to food, water, power, medical care and other basic services. Western Europe London, Westminster As the explosion forms a towering mushroom cloud in the air, fires would spread over a large area, even putting people in underground shelters at risk of carbon monoxide poisoning. Anyone within three square kilometres of the detonation of the Topol is instantly vaporised by a towering fireball as hot as the sun (inner yellow ring). The Houses of Parliament, Buckingham Palace , Westminster Abbey and Trafalgar Square are completely and utterly destroyed. Within a fraction of a second, the heat would cause a high-pressure shockwave to spread out from the blast, tearing through buildings with powerful force at supersonic speed . Anyone living within 134sq km - as far away as Wandsworth, Camden and Hackney - is almost certainly wiped out due to horrific injuries and total body burns amid widespread destruction of buildings and infrastructure (inner grey ring). Large numbers of people living as far out as Stratford, Chiswick, Lewisham and Wimbledon are liable to suffer third-degree burns and buildings as far as Kingston, Croydon and Ilford suffer significant damage. Wellerstein's model predicts that almost 1 million people would be killed instantly, with 2.2 million more suffering severe injuries, many of which would likely lead to death. Paris Casualties in the French capital would likely be even worse. Some 1.5 million are expected to be killed immediately by the blast, with the toll of injured rising to 2.7 million. A Topol detonated over central Paris wipes the Eiffel Tower and the Palais de Chaillot off the map, with the world-famous Arc de Triomphe, the Louvre and Montparnasse Tower reduced to rubble. Residents are far out as the suburbs of Saint-Denis suffer third-degree burns, and the windows of Paris Orly airport some 15km south of the Eiffel Tower would be shattered by the shockwave. Amsterdam The Dutch capital is less densely populated than London and Paris, meaning casualty figures are lower. But Amsterdam's comparatively small size means much of the city is wiped out. Roughly 370,000 people are killed in the moments following the blast with more than 530,000 expected to sustain severe injuries. The city centre and the nearby port are totally demolished with buildings in the neighbouring city of Haarlem suffering damage from the shockwave. Rome The Topol leaves some 770,000 inhabitants dead in Rome, with more than 1 million suffering grievous harm. The Italian capital's treasured Colosseum crumbles to dust along with the Pantheon and much of Rome's Old Town. A few kilometres from the epicentre of the blast, the Vatican also suffers massive damage with most of its inhabitants likely killed. The shockwave of the explosion continues outward, wreaking havoc and shattering windows as far as the town of Dragona, just a few kilometres from the shore of the Mediterranean. Central Europe Berlin Almost 640,000 people perish within moments of the blast over central Berlin, with almost double - 1.2 million - left with brutal injuries. The Brandenburg Gate, Berlin cathedral, the instantly recognisable TV tower spire and the Reichstag - Germany's Parliament building - are pulverised. People living as far as the suburbs of Spandau and Wilhelmstadt suffer significant burns and the punishing shockwave affects buildings on the outskirts of the city of Potsdam several dozen kilometres south west. Warsaw Some 615,000 people in Warsaw are eliminated by the Topol-M airburst and the raging fireball with another 750,000 sustaining injuries. Most of Warsaw's old town as well as its burgeoning financial and business centre are wiped out. The Royal Castle is razed to the ground along with the Warsaw local history museum, with the brutal shockwaves reaching as far as the outskirts of the Kampinoski National Park nearly 20km away. Nordics Helsinki In the more sparsely populated Finnish capital on the banks of the Gulf of Finland, a Topol-M blast causes the deaths of more than 120,000 and deals savage injuries to roughly 300,000 more. Several islands of the archipelago on which the capital is built are devastated, while Helsinki airport some 16kms inland is hit by the shockwave and sustains some damage. Stockholm In the Swedish capital, the death is toll more than twice that of Helsinki, standing at 268,000, while the number of injured rises to 500,000. Stockholm's archipelago is also more densely concentrated than Helsinki, meaning more vital architecture and infrastructure are laid to waste. The Swedish Royal Palace, Stockholm City Hall and the Vasa Museum are all eviscerated with the blast radius stretching out to Danderyd, Djursholm, Huddinge and Boo. US Washington DC A Topol-M strike at the heart of the American political capital erases several landmarks and locations synonymous with US history and politics. The White House and the Capitol building are demolished along with the instantly recognisable Washington Monument, the Smithsonian National Museum of American History, the National Air and Space Museum and the National Archives. Estimated fatalities rack up to 485,000 with another 839,000 suffering severe injuries. People living as far as Alexandria and Bethesda are hit with third-degree burns, with the shockwave extending out far beyond Silver Spring and College Park. New York An airburst over central New York unsurprisingly would have catastrophic consequences given the population density and massive infrastructure. The immediate fireball vaporises almost everyone in Soho, Little Italy, the Lower East Side, East Village and West Village, with the eruption levelling buildings and slaying people in Midtown, Long Island, Williamsburg, Brooklyn and the Upper East Side, as well as those across the river in Jersey City and Hoboken. People in Harlem, Bushwick and North Bergen are dealt third-degree burns, with the shockwave extending as far as the Bronx and toward the outskirts of Yonkers. Some 1,560,000 are killed with the number of injured almost reaching 3,000,000. The Topol-M is by no means the most powerful nuke in Russia's arsenal. But even a 500-kiloton nuclear bomb - almost half as powerful as the Topol-M - would still raze buildings and kill nearly 100 per cent of those within half a mile of the epicentre of the blast. If dropped on Westminster, that would mean the Houses of Parliament, Downing Street, St Thomas's Hospital and Westminster Abbey being completely obliterated by the thermal blast. 'That blast wave will keep rolling - it will drop off severely, but it will keep going - destroying buildings and causing casualties out until about two and a half miles,' Dr Jeffrey Lewis, a professor at the Middlebury Institute, told MailOnline. In London, that encompasses the Tower of London and Battersea Power Station. Most of Hyde Park, half of Regent's Park, Chelsea, Knightsbridge and Belgravia. The damage would span from Camden to Brixton. The Royal Albert Hall, Barbican and the Bank of England would likely collapse in the strike. Fires would rage and emergency services outside of the capital would be stifled by collapsing infrastructure and piles of rubble up to 30ft deep. A direct strike on the centre would see a 'likely fatal' ring of radiation stretching as far as the easternmost part of Hyde Park, with most buildings collapsing in the City and around the Kensington and Chelsea areas. Beyond that, residents in Camden, Islington, Tower Hamlets, Lambeth and Wandsworth would suffer third-degree burns. And six miles away, from Chiswick to Stratford, residents would likely suffer injuries as the blast shatters windows and causes damage to houses. Your browser does not support iframes. Those able to shelter inside a building, ideally ducking under a desk or into a cupboard in case the ceiling collapses, stand a better chance of surviving - but the shockwave at this distance could still be fatal. While the fatal ring of radiation is limited to the very heart of the city, its effects could spread beyond the M25 depending on the weather, stifling the victims' ability to produce natural defences against infection. Those affected would feel nausea as exposure damaged blood vessels and bone marrow, weakening the body's ability to produce white blood cells needed to fight infection. As the body starts to decay, victims are left vulnerable to outside infections and internal haemorrhaging. In a densely populated city like London, a 500kt blast could foreseeably kill as many as 400,000 people in an instant. But more than 850,000 could also sustain injuries from the blast, shockwave and radiation. With much of London's infrastructure taken out, it would likely be hospitals and fire departments in the capital's suburban sprawl that take on responsibility for treating casualties, putting unprecedented pressure on local services. But 'all of the dedicated burn beds around the world would be insufficient to care for the survivors of a single nuclear bomb on any city,' warns the International Campaign to Abolish Nuclear Weapons . The fatalities would invite pests and disease, spreading illness further around a population already decimated by compromised immune systems and creating new epidemics. Significant strikes - nuclear or otherwise - on large population centres would also stifle business, causing huge supply chain disruptions in Britain and beyond. At home and overseas, livelihoods reliant on trade with London would be disrupted or destroyed even if they escaped the physical effects of a blast. And with communication networks likely knocked offline, the response to dealing with plague, injury and demolition would be slow and awkward. A mushroom cloud rises after the so-called Tsar Bomba was detonated in a test over the remote Novaya Zemlya archipelago in USSR, in this still image from previously classified footage taken in October 1961 The fireball created by the Tsar Bomba, the most powerful nuclear weapon ever tested Russian Topol M intercontinental ballistic missile launcher rolls along Red Square during the Victory Day military parade to celebrate 72 years since the end of WWII and the defeat of Nazi Germany, in Moscow, Russia on May 9, 2017 Hiroshima and Nagasaki, both destroyed by American atom bombs in 1945, show how communities can rebuild cities from the ground up after their total destruction. The bomb that hit Nagasaki caused ground temperatures to reach 4000C and radioactive rain to fall over the beleaguered survivors. Ninety per cent of physicians and nurses were killed in Hiroshima and 42 of 45 hospitals were rendered non-functional. Even as survivors were moved on and rebuilding efforts commenced, within five to six years the victims began reporting a higher incidence of blood, thyroid, breast and lung cancers. Pregnant women experienced higher rates of miscarriage and infant mortality, scarring the next generation and stultifying hopes for the future. Britain is fortunate to be among the countries with preparations in place to stop an incoming attack. But experts warn the defences are not comprehensive and could be easily overwhelmed. But it is not only the nuclear threat that poses a direct challenge to Britain's defences, experts warn. The war in Ukraine has shown the urgency of anti-missile defence systems - and the UK has long left itself exposed to all manner of attacks from above. 'There are some basic things we need to do in this country and we are failing on all of them,' Edward Lucas , a security expert and politician, tells MailOnline. 'We were not properly equipped during the Cold War' and since then have retired many of the tools used to prepare the public and avoid the nuclear threat. In Britain, RAF Menwith Hill, near Harrogate, stations the site for the European Relay Grounds Station, which picks up information from the American Space Based Infra Red System (SBIRS) satellite system. RAF Fylingdales, on Britain's east coast, also shares information with the US and tries to calculate the trajectories of incoming missiles, allowing interceptors to knock them out. The moment Russia used the Oreshnik hypersonic missile for the first time to strike Dnipro, on November 21 In the event of a missile launch, it is unlikely an adversary would fire just the one rocket, however, meaning Britain's 'means of destroying missiles will only be able to deal with a limited ballistic missile threat', according to a 2003 Ministry of Defence White Paper. At the time, barely a decade after Britain retired its Cold War bunkers, air raid sirens and public warning systems, the government warned of the 'immediate state threat' of Iraq but assessed that there was 'no immediately significant ballistic missile threat to the UK'. Edward Lucas told MailOnline that while London likely would be protected by anti-missile defence systems, 'we have given up on anti-missile defences in this country'. An alert from SBIRS would likely see the UK move its Type 45 destroyers to the English Channel and Thames Estuary in order to cut off incoming missiles before they land. This would make London one of the best-guarded places in the British Isles. But Britain only has six Type 45 destroyers, each equipped with Sea Viper missiles able to knock out up to 16 targets mid-air, from some 70 miles away. Each volley could in principle knock 420 nuclear weapons out of the sky by those figures. Russia alone has an estimated 5,580. The Type 45s are Britain's only defence against Russian multi-missile attacks, the former head of the UK Armed Forces, General Sir Nick Carter , warned MPs last year. And while Ukraine has shown 'how important it is' to have strong stockpiles of anti-missile defences, Mr Lucas says, Britain finds itself desperately lacking. Destroyers represent Britain's best anti-missile defences, he says, but continued success would come to depend on the American ability to continue resupplying the Navy. In World War II , Britain was able to manufacture plenty of low-tech defences against incoming attacks. Today, there is no equivalent to the American Patriot System, or the Israeli Iron Dome, able to prevent repeated attacks from incoming missiles. Sir Nick Carter, former Chief of the Defence Staff, told MPs last June that 'the extent to which we've got a counter-missile system is debatable,' suggesting the only system comparable to Patriot was the Type 45s. London Russia Share or comment on this article: How NATO's capital cities would be vaporised by Putin's nukes: Chilling nuclear bomb maps show potential impact of Russia's weapons - with a million killed in London alone e-mail Add comment

Following closely behind is the fantasy epic "A Writer's Odyssey", directed by Lu Yang and set to hit theaters on February 12th. Combining elements of fantasy, adventure, and suspense, this visually stunning film follows the journey of a man seeking vengeance in a world where reality and fiction blur together, creating a mesmerizing cinematic experience that is sure to leave a lasting impact on audiences.Pep Guardiola spoke of his relief after Manchester City finally got back to winning ways with a comfortable 3-0 defeat of Nottingham Forest on Wednesday. The champions had descended into crisis after a run of seven games without a win – six of which were defeats and the other an embarrassing 3-3 draw after leading 3-0. Four of those losses had come in the Premier League, heavily damaging their chances of claiming a fifth successive title, but they appeared to turn the corner by sweeping Forest aside at the Etihad Stadium. “We needed it,” said City manager Guardiola. “The club, the players, everyone needed to win. “But it is just one game and in three days we are at Selhurst Park, where it has always been difficult. “We played good. We still conceded some transitions and missed some easy things and lost some passes that you have to avoid, but in general, the most important thing was to break this routine of not winning games and we won it.” Kevin De Bruyne, making his first start since September after overcoming a pelvic injury, made a huge difference to a side that appeared rejuvenated. His powerful header was turned in by Bernardo Silva for the opening goal and the Belgian followed up with a powerful strike to make it 2-0. The 33-year-old is out of contract at the end of the season but it was a strong riposte to recent suggestions of a rift with Guardiola. A sweet strike 💥 ⚡️ #HighSpeedMoments | @eAndGroup pic.twitter.com/WJOkfKo2zr — Manchester City (@ManCity) December 4, 2024 “I’m so happy for him,” said Guardiola of De Bruyne’s telling contribution. “Last season he was many months injured and this season as well. “I’m so happy he’s back. He fought a lot, he’s worked and he’s back with his physicality. The minutes he played in Anfield were really good and today he played 75 fantastic minutes.” Jeremy Doku wrapped up a pleasing win when he finished a rapid counter-attack just before the hour but there was still a downside for City with injuries to defenders Nathan Ake and Manuel Akanji. Guardiola said: “For Nathan it doesn’t look good and Manu has struggled a lot over the last two months. We will see. “Phil (Foden) has bronchitis but when he doesn’t have fever he will be ready.” Despite City’s dominance, Forest did have some bright moments and manager Nuno Espirito Santo was not downbeat. He said: “When you lose 3-0 and you say it was a good performance maybe people don’t understand, but I will not say that was a bad performance. “There are positive things for us in the game. Of course there are a lot of bad things, mistakes, but we had chances. “We didn’t achieve but I think we come out proud of ourselves because we tried. For sure, this game will allow us to grow.” We do not moderate comments, but we expect readers to adhere to certain rules in the interests of open and accountable debate.NEW YORK (AP) — U.S. stock indexes reached more records after tech companies talked up how much artificial intelligence is boosting their results. The S&P 500 climbed 0.6% Wednesday to add to what looks to be one of its best years of the millennium. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce pulled the market higher after highlighting its artificial-intelligence offering for customers. Marvell Technology jumped even more after saying it’s seeing strong demand from AI. Treasury yields eased, while bitcoin climbed after President-elect Donald Trump nominated a crypto advocate to head the Securities and Exchange Commission. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are rising toward more records Wednesday after tech companies talked up how much of a boost they're getting from . The S&P 500 climbed 0.5% to add to what looks to be one of its best years of the millennium. It’s on track to set an all-time high for the 56th time this year after coming off . The Dow Jones Industrial Average was up 252 points, or 0.6%, with an hour remaining in trading, while the Nasdaq composite was adding 1.2% to its own record. Salesforce helped pull the market higher after delivering stronger revenue for the latest quarter than analysts expected, though its profit fell just short. CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock of the company, which helps businesses manage their customers, rose 9.3%. Marvell Technology jumped even more after delivering better results than expected, up 23.2%. CEO Matt Murphy said the semiconductor supplier is seeing strong demand from AI and gave a forecast for profit in the upcoming quarter that topped analysts’ expectations. They helped offset a 9.8% drop for Foot Locker, which reported profit and revenue that fell short of analysts’ expectations. CEO Mary Dillon said the company is taking a more cautious view, and it cut its forecasts for sales and profit this year. Dillon pointed to how keen customers are for discounts and how soft demand has been outside of and other key selling periods. overall have offered about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the that earlier because of high interest rates brought by the Federal Reserve to crush inflation. But shoppers are now contending with still-high prices and . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A narrower report released on Wednesday morning may have offered a preview of it. The report from ADP suggested employers in the private sector increased their payrolls by less last month than economists expected. Hiring in manufacturing was the weakest since the spring, according to Nela Richardson, chief economist at ADP. The report strengthened traders’ expectations that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat. Trump’s preference for and could lead to higher economic growth and , which could alter the . Fed Chair that the central bank can afford to cut its benchmark rate cautiously because inflation has slowed significantly from its peak two years ago and the economy remains sturdy. A separate report on Wednesday said health care, finance and other businesses in the U.S. services sector are continuing to grow, but not by as much as before and not by as much as economists expected. One respondent from the construction industry told the survey from the Institute for Supply Management that the Fed’s rate cuts have not pulled down as much as hoped yet. Plus “the unknown effect of tariffs clouds the future.” In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.23% late Tuesday. On Wall Street, Campbell’s fell 6% for one of the S&P 500’s sharper losses despite increasing its dividend and reporting a stronger profit for the latest quarter than analysts expected. Its revenue fell short of Wall Street’s expectations, and the National Football League’s as its team president. Campbell’s said Mick Beekhuizen, its president of meals and beverages, will become its 15th CEO following Clouse’s departure. Gains for airline stocks helped offset that drop after JetBlue Airways said it saw stronger bookings for travel in November and December following the presidential election. It said it’s also benefiting from lower fuel prices, as well as lower costs due to improved on-time performance. JetBlue jumped 8.3%, while Southwest Airlines climbed 2.8%. In stock markets abroad, South Korea’s Kospi sank 1.4% following a night full of drama in Seoul. President Yoon Suk Yeol was facing after he suddenly on Tuesday night, prompting troops to surround the parliament. Yoon accused pro-North Korean forces of plotting to overthrow one of the world’s most vibrant democracies. The martial law declaration was revoked about six hours later. Samsung Electronics fell 0.9% in Seoul. The country’s financial regulator said it was prepared to deploy 10 trillion won ($7.07 billion) into a stock market stabilization fund at any time, the Yonhap news agency reported. In , bitcoin climbed back above $97,000 after Trump said he would , a cryptocurrency advocate, to chair the Securities and Exchange Commission. ___ AP Writers Matt Ott and Zimo Zhong contributed. Stan Choe, The Associated Press

As they reach the pinnacle of their adventure, the Three Stars Monitor and "The Lion King: Mufasa Chronicles" stand as living testaments to the enduring spirit of heroism. Theirs is a tale of courage and compassion, of creativity and collaboration. Together, they have crafted a masterpiece that will be remembered for generations to come.A Robinhood Look Back at 2024 and Forward Into the Future

Jeannette Neumann | (TNS) Bloomberg News The Nordstrom family is joining forces with a Mexican retailer to take its namesake department store private in an all-cash transaction valued at about $6.25 billion, including debt. Related Articles Business | New shoplifting data explains why they’re locking up the toothpaste Business | Biden will decide on US Steel acquisition after influential panel fails to reach consensus Business | For some FSA dollars, it’s use it or lose it at year’s end Business | Celebrate Hanukkah at these 3 events in Hampton Roads Business | Heavy travel day off to a rough start after American Airlines briefly grounds all flights The founding family is betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market after shares in Nordstrom Inc. plunged 40% in the last five years. During the same period, the S&P 500 rose 84%. As part of the transaction, which is expected to close in the first half of 2025, the family and Mexican department-store chain El Puerto de Liverpool SAB will acquire all of the outstanding common shares of Nordstrom. The Nordstrom family will have a majority ownership stake in the company of 50.1%, with Liverpool owning 49.9%. Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold under the terms of the agreement, the company said Monday. That’s roughly in line with where shares were trading on Monday. Shares in Nordstrom fell as much as 1.3% on Monday in New York. The company’s stock was up 33% so far this year as of Friday’s close as reports of a take-private deal boosted the stock price. The board’s acceptance of the offer underscores Nordstrom’s decline from its peak and its subdued growth prospects. In 2018, the board rejected the family’s bid to take the company private at $50 per share as too low. Nordstrom’s annual revenue, including income from credit cards, peaked at $15.9 billion in the fiscal year ended February 2019. The company was hit hard by Covid-19 and has never returned to its pre-pandemic highs. Nordstrom is expected to report $14.9 billion in total revenue at the end of the current fiscal year, according to a Bloomberg survey of analysts. Other department-store chains in the U.S. have also struggled as shoppers pivot to online competitors such as Amazon.com Inc., or brand-specific stores such as Louis Vuitton. Executives at Macy’s Inc., for example, are shrinking the company’s store fleet to cut costs, while the owners of Saks Fifth Avenue bought Neiman Marcus Group earlier this year. During the past couple of years, investors had hoped that Nordstrom Rack, its off-price chain, could help buoy the company’s growth prospects and compensate for sluggish sales at the more upscale flagship chain. Shoppers flocked to competitors such as TJ Maxx, seeking deals as inflation soared post-pandemic. But Rack’s performance has been spotty. It stumbled when executives tweaked their strategy and stopped offering as many high-end fashion brands at a discount. Rack reversed course and sales have bounced back. Company executives have focused on opening more Rack stores in recent quarters, boosting revenue. In November, Nordstrom raised the lower end of its annual sales guidance after revenue was better than expected at Rack and the flagship chain. But the outlook is still weak, highlighting the attraction of going private: The company is forecasting that annual sales, including credit-card revenues, will be flat to up 1% versus last year. The take-private deal will be financed through a combination of rollover equity by the Nordstrom family and Liverpool, cash commitments by Liverpool, up to $450 million in borrowings under a new $1.2 billion ABL bank financing, and company cash on hand. The board also intends to pay a special dividend of up to 25 cents a share in cash contingent on the deal closing. The transaction must be approved by holders of two-thirds of the company’s common stock shareholders and the holders of a majority of the shares not owned by the Nordstrom family or Liverpool. Erik and Peter Nordstrom, who are members of the company’s board, recused themselves from the vote, which unanimously approved the transaction. “On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future,” said Erik Nordstrom, chief executive officer of Nordstrom. Liverpool, run by descendants of a French shareholder group that dates back more than a century, is one of Mexico’s most important department store chains, with an ornate flagship location in the capital’s historic center. The $7 billion publicly-traded company has ventured beyond Mexico in recent years, acquiring a stake in Latin American retail operator Unicomer in 2011 and attempting unsuccessfully to acquire control of Chile’s Ripley SA in 2015 before turning its eyes to the U.S. with the Nordstrom investment. Max David Michel, part of Liverpool’s founding family and one of the richest people in the country, retired as head of Liverpool’s board earlier this year. (Updates to include what stock is trading at versus the offer price.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC. 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