Workday Names Rob Enslin President, Chief Commercial OfficerThe latest XRP news continues to hold attention as the Ripple-SEC legal battle nears a critical January 15 deadline. A decision to withdraw could ignite a rally toward $3.55, while an appeal may test support below $1.50. Meanwhile, Shiba Inu’s whale activity has seen a 7,140% net inflow spike, indicating rising confidence among major holders despite the token’s recent decline. On the other hand, the BlockDAG (BDAG) partnership with Inter Milan continues to introduce millions of soccer fans to its advanced blockchain ecosystem. This has led to a massive surge in its presale with $172.5 million raised in its ongoing presale. As analysts predict BDAG coins to hit $1 post-launch, BlockDAG is increasingly being seen as one of the best cryptos to buy today. XRP News: Could SEC Actions Drive a Price Surge? The recent XRP news remains at the forefront as the Ripple versus SEC case approaches a pivotal January 15 deadline for the agency to file its appeal. The outcome could drastically influence XRP’s price trajectory. Analysts suggest that if the SEC proceeds with an appeal, XRP may drop below $1.50 due to heightened uncertainty. Conversely, a withdrawal of the appeal could ignite a rally toward $3.55, reviving investor confidence and setting a legal precedent for programmatic XRP sales. The case also intertwines with ongoing investigations into SEC ethics, adding layers to the unfolding narrative. XRP’s news continues to shape market sentiment, making it a critical asset to watch in the crypto space. SHIB’s Whale Activity Rises as Key Support Levels Hold Shiba Inu whale activity has surged dramatically, with a 7,140% increase in net inflows marking December 23 as a standout day for large transactions. On this day, major holders acquired 1.21 trillion SHIB tokens worth $26.6 million while selling 413 billion SHIB, resulting in a net inflow of 799 billion tokens. This spike in Shiba Inu whale activity highlights growing confidence among large holders despite the token’s 16.59% drop this month. Supporting this trend, exchange reserves have steadily declined from 140.87 trillion SHIB on December 7 to 135.74 trillion, signaling reduced selling pressure. Shiba Inu’s whale activity remains a key factor driving optimism for a potential price recovery. BlockDAG’s Inter Milan Collab Holds Strong as Global Interest Grows The partnership between BlockDAG and Inter Milan has catapulted the network into the global spotlight, bridging blockchain technology with one of Europe’s most celebrated football clubs. By integrating BlockDAG’s next-gen infrastructure, Inter Milan fans gain access to exclusive digital collectibles and transactions powered by BlockDAG’s secure and efficient technology, further enhancing their experience. This strategic collaboration not only enhances fan engagement but also introduces millions to the BlockDAG ecosystem, marking a significant leap in adoption and recognition. The presale success further validates BlockDAG’s rising momentum with $172.5 million raised and over 17.5 billion coins sold. Priced at $0.0234 in batch 26, early supporters have already seen a whopping 2240% ROI. Demand is surging as the next batch quickly approaches, solidifying BlockDAG as a major contender for market leadership in 2025. As the network gears up for its highly anticipated launch, the Inter Milan deal adds fuel to its trajectory. Analysts forecast BDAG to reach $1 post-listing on major exchanges, reinforcing its position as one of the best crypto to buy today. The partnership exemplifies how BlockDAG blends tech and strategy, creating a strong argument for traders eyeing long-term growth opportunities. From its robust technology to high-profile collaborations, BlockDAG is primed to set new benchmarks in the crypto space. Best Crypto To Buy Today XRP’s news remains a key focal point, as the Ripple-SEC case heads toward a critical deadline. Shiba Inu’s whale activity also highlights growing interest from large holders, indicating the potential for a rebound if key support levels persist. But BlockDAG’s strategic partnership with Inter Milan and its presale success—$172.5 million raised and over 17.5 billion BDAG coins sold—continue to position it as a leading choice for traders seeking long-term growth. As 2025 approaches, BlockDAG has solidified its position among the best cryptos to buy today, backed by a forecasted price of $1 post-listing and robust adoption strategies. Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
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TORONTO — Losses in the tech sector led Canada's main stock index lower in late-morning trading on Friday, while U.S. stock markets also fell. The S&P/TSX composite index was down 93.03 points at 24,753.79. In New York, the Dow Jones industrial average was down 437.35 points at 42,888.45. The S&P 500 index was down 86.37 points at 5,951.22, while the Nasdaq composite was down 402.43 points at 19,617.93. The Canadian dollar traded for 69.39 cents US compared with 69.51 cents US on Tuesday. The February crude oil contract was up 66 cents at US$70.28 per barrel and the February natural gas contract was up five cents at US$3.37 per mmBTU. The February gold contract was down US$19.70 at US$2.634.20 an ounce and the March copper contract was down less than a penny at US$4.12 a pound. This report by The Canadian Press was first published Dec. 27, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) The Canadian PressFollowing a dominant Christmas Day performance against the Houston Texans , all the talk surrounding the Baltimore Ravens was about Lamar Jackson playing his way back to MVP favorite status. It shouldn't be, though. After all, the Ravens have a much bigger trophy to chase. Lost in the MVP drama between Jackson and Josh Allen of the Buffalo Bills is that Baltimore is heating up at the exact right time. The Ravens are winners of three straight and 11 of 14 after starting 0-2, and they've taken command of the AFC North. All they need to do to clinch the division -- and the likely No. 3 seed in the playoffs -- is beat the 3-12 Cleveland Browns at home to close out their regular season. The Ravens have been battle-tested against fellow playoff teams the past two weeks, and have dominated both of them by a combined 65-19 margin of victory. The Bills are also rolling, but their defense is a major red flag with upwards of 40 points given up in two of their past three contests. They also barely squeaked by the 3-12 New England Patriots on Sunday, winning 24-21. If the Bills lose out, Baltimore could be the No. 2 seed. That's highly unlikely considering Buffalo's opponents are the 4-11 New York Jets and then the Patriots again, but the point remains that the Ravens are currently playing much better football. That will help Jackson's MVP case over Allen's, but more importantly, it makes the Ravens the biggest threat to the Kansas City Chiefs in the AFC playoffs. That should be Baltimore's primary concern in the season's final stretch, and it very likely is despite the noise from the narrative-obsessed NFL media. The Chiefs, despite being 15-1, are vulnerable with an offense that hasn't scored more than 30 points in a game all season. It's worth noting the Ravens were an Isaiah Likely foot placement away from taking them to overtime back in Week 1. Kansas City is beatable, and the only reason it feels otherwise is because they're the back-to-back defending champions. Individual awards are great, but the bigger story is that Jackson and the Ravens are playing their way into an opportunity to do something much more impressive: win a Super Bowl.
One former member of the New York Yankees has found a new home. Former Yankees All-Star Gleyber Torres spent the last seven seasons with New York. Over that stretch, he was named an All-Star twice and developed into one of the best offensive second basemen in baseball. Torres is just 28 years old now, but the Yankees didn't show much interest in bringing the former All-Star back to town. Because of this, he reportedly landed a one-year, $15 million deal with the Detroit Tigers on Friday, according to ESPN's Jesse Rogers and the New York Post's Jon Heyman. "Free agent Gleyber Torres is in agreement with the Detroit Tigers on a one-year, $15 million contract, sources tell ESPN," Rogers said. "Torres had a great ALCS after a bit of down year on the power side for the Yankees. He'll start at second baseman for Detroit. Jon Heyman was first with the agreement." Torres took to social media with a heartfelt message to thank Yankees fans afterward. "Wow, where to start or how to start," Torres said. "Thank you. The Yankees were my family since 2016. A simple boy from Venezuela with great aspirations to play in the most epic city in the world, the Yankees gave me all the love and support I needed to achieve my childhood dream. Wearing pinstripes was an honor for me and my family... "Yankees Fans, thank you for everything. Thank you for the unconditional support, you were always there to motivate me when I had good times and, not-so-good times." You can read the entire message here. Hopefully, he can find success in Detroit and cash in next offseason. More MLB: One $49 million move Yankees can make to replace Gleyber Torres
Drop in a question of your very own BY CLICKING HERE or by emailing Kathy Reiser at mailbag@news-gazette.com . An update (of sorts) on digital driver’s licenses for Illinois motorists ... some new quick-serve food options coming to Downtown Urbana ... what’s happening at the former Am-Ko grocery property in Midtown Champaign ... how the Illinois Distributed Museum got its name ... and what you’re buying if you fill your car with Unleaded 88 fuel. All in this week’s Mailbag. This map shows physical locations of Illinois Distributed Museum exhibits that complement its online content. "Enjoyed last weekend’s article on Dr. Virginia Bartow, which was written by Kristen Wilson, coordinator of the Illinois Distributed Museum. What is that, and how did it come to have such an inscrutable name?" The name can be a little baffling if you’re not yet a member of the COIK — clear only if known — club. The museum is “distributed” in the sense of “not centralized.” While most museums exist within a brick-and-mortar building or a complex of closely adjacent buildings, the Illinois Distributed Museum is spread across the 10 (or so) square miles that make up the UI’s Urbana-Champaign campus. It’s a mix of physical locations and online content, and its purpose is to showcase the world-changing innovations and innovators associated with the campus. It is a project of the UI Archives and the UI Library. New content is added every semester, and suggestions for new exhibits/content are welcome. The museum’s website, distributedmuseum.illinois.edu , serves as the collection’s all-in-one guidebook, map, finding aid and docent. Each exhibit has at least one physical location people may visit, along with links to related stories, people and locations. Visitors may plan and organize their tours by a specific type of innovation, societal impacts of an innovation, places or names of people. For visitors from outside the C-U area, and those who simply prefer to explore the museum virtually, the online exhibits may of course be accessed 24/7. "The embossed serial numbers and letters on newer Illinois license plates are in a totally different font than they were for many years. To my eye, the 6s, 8s and 9s on the newer plates are harder to distinguish from one another at a distance. Why did the state make that change?" You’d think this is one of those simple questions to which there would be a straightforward answer. But if there was a compelling reason behind the change, Illinois Secretary of State spokeswoman Erin Henkel was not able to share it for publication. There’s no official word on whether the secretary of state’s office initiated the change, if the contractor that manufactures the plates said “this is how it’s gonna be,” whether law enforcement requested the change, or ... what. In the absence of an official explanation, we went looking for an unofficial-but-credible reason. For what it’s worth, this is the explanation on license-plate aficionado Rick Kretschmer‘s “A Pictorial History of Illinois License Plates” webpage: “In mid-year 2023, plates started appearing with very different-looking plate numbers. These are being stamped using the same dies that have been used to make North Carolina plates for decades, and which have also recently started being used on Alaska and Utah plates. “I understand these plates are being made using a new manufacturing process which involves printing the plate numbers on the reflective sheeting before the number is stamped. At first, these were only seen on remakes of numbers that had been issued on the previous base. It took them a while to work through the inventory of old-die plates with new numbers issued to new registrants, but new-number plates with the new dies began to hit the streets in early 2024.” It does seem rather silly that, more than a year after the change was made, the Illinois Secretary of State’s Office can’t or won’t say why the lettering style was changed. ‘I understand Illinois will begin offering digital driver’s licenses in 2025. How soon?’ Don’t hold your breath. In fact, I don’t think anyone with the Illinois Secretary of State’s Office has said for sure that the new digital IDs will be available in calendar year 2025. Public Act 103-0824, which amended the Illinois Identification Card Act to allow the state to issue digital (smartphone) versions of Illinois driver’s licenses, was passed by the General Assembly in May and signed by Gov. J.B. Pritzker in August of this year. The law that takes effect on Jan. 1 simply authorizes the secretary of state’s office to begin preparing to issue digital licenses and state ID cards. That process could take a while. Secretary of state spokeswoman Erin Henkel said she could not provide a timetable for it, or a target date by which residents should be able to download the new IDs. Of course, the technology and its security features will need to be rigorously tested — and there’s also no official indication of whether that part of the process has been started or how far along it might be. At least 13 other U.S. states offer digital driver’s licenses, including neighboring Missouri and Iowa. One thing to look forward to — someday — when the new digital IDs become available: the technology will allow individuals to decide what personal information they share on those IDs. According to an August press release from the secretary of state’s office, “mobile IDs will offer privacy-control options that allow people to verify their age when legally purchasing alcohol, cannabis or renting a car, while hiding other personal information — like their address.” "It looks like the former Am-Ko grocery store property at First and Springfield in Champaign has been sold, and there’s a chain-link fence around it. Who owns it now, and what are the plans for that prime Midtown location?” Champaign County property records show the parcel at 101 E. Springfield Ave. was sold to G7 Living in October. Tax bills are sent to G7 at 212 E. Springfield Ave. in Champaign. The city of Champaign permits database says G7 Living applied for a demolition permit in mid-December. As of earlier this week, it was still marked “under review.” We reached out to the real-estate firm that handled the sale, Coldwell Banker Commercial Devonshire Realty, and have not heard back about future plans for the parcel. "I’ve been seeing something called ‘Unleaded 88’ at area gas stations, primarily Circle Ks. What is that?" It is a fuel blend that contains 85 percent gasoline and 15 percent ethanol, according to Nate Harris, CEO of the Illinois Fuel and Retail Association. The ethanol used in fuel blends is made mostly from corn. Unleaded 88 — which some fuel retailers market as E-15 — usually is about 10-cents-per-gallon cheaper than more common fuel blends that contain slightly less ethanol. Unleaded 88 “typically gets slightly lower gas mileage than regular fuel, but it does give off less carbon emissions, so that’s typically why people want it,” he said. Harris said there’s no difference between E-15 and Unleaded 88; those terms are interchangeable. How it is identified at the pump is strictly a “marketing thing.” The “88” in Unleaded 88 refers to the octane level of the fuel, not the percentage of gasoline in it. “The octane measure is about the fuel’s stability, so a higher octane rating means the fuel can withstand greater pressure,” Harris said. So-called regular unleaded gasoline and blends are typically 87 octane, and mid-grade (sometimes sold as regular-plus) is 89-90 octane. High-performance or luxury vehicles “tend to want you to use the premium or ultra/super — whatever they’re marketing as — the higher-octane, 91 to 94 set,” Harris said. In the past, E-15/Unleaded 88 was sold as a seasonal fuel blend, Harris said. It was not sold in this part of the country in the warmer months, due to concerns that it contributed to smog in hot weather. But in February, the EPA changed the rule so that E-15/Unleaded 88 now can be sold year-round in Illinois and seven other Midwest states. "I saw the word 'Latinx' in the paper again this week, and am curious: What does it mean, exactly, and how do you pronounce it?" While definitions may vary, it generally is used in lieu of “Latino/Latina” as a gender-neutral word to describe people of Latin American cultural or ethnic identity. Its origins, the nuances of its meaning and its appropriateness in any given situation may depend on whom you ask. Some people say the word is inclusive, and others term it as “woke.” In a 2020 report on “Latinx” and other pan-ethnic terms, the Pew Research Center said “the emergence of ‘Latinx’ coincides with a global movement to introduce gender-neutral nouns and pronouns into many languages whose grammar has traditionally used male or female constructions.” In a 2024 follow-up report, Pew researchers said “about half (53 percent) of the population that ‘Latinx’ is meant to describe has never heard of the term. While awareness of the term has grown, the share who use ‘Latinx’ to describe themselves is statistically unchanged: 4 percent of Latino adults say they have used ‘Latinx’ to describe themselves, little changed from the 3 percent who said the same in 2019.” Here in the U.S., Pew says the first uses of “Latinx” appeared more than 15 years ago; the Merriam-Webster Dictionary added it in 2018. Just as there is no universal agreement on usage of the word, its pronunciation is a matter of some debate. Merriam-Webster’s website says “the most common way to pronounce ‘Latinx’ is the same way you would Spanish-derived Latina or Latino, but pronouncing the ‘x’ as the name of the English letter X. So you get something like ‘luh-TEE-neks.’” A Champaign-Urbana Mass Transit District bus pulls out of the Illinois Terminal on Aug. 17 in downtown Champaign. "I understand some newly cleared properties on the east side of the CN tracks in Champaign will be used as a temporary transferring zone for MTD buses while the Illinois Terminal is under construction. Is that happening soon?" “It’s still a ways out, but this is in preparation for the Illinois Terminal Expansion project that we’re currently working on with Royse Witte Downtown LLC,” said Karl Gnadt, the C-U Mass Transit District’s managing director and CEO. Readers may recall that a previous development agreement for a multi-use complex called The Yards was terminated earlier this year, after developer Core Spaces withdrew from the project. Gnadt said there is nothing new to report on the continuing negotiations with Royse Witte, the new developer. Meantime, the MTD is starting to plan the workarounds that will keep transportation services rolling while the Illinois Terminal is renovated. “As far as the amenities go with the temporary transfer area — we haven’t yet done any design work for that,” Gnadt said. “We’ll try to provide as much protection as possible, of course, but it will be temporary, so it’s unlikely that we would install a lot of new electrical or plumbing infrastructure. We’ll make every effort to keep Illinois Terminal open throughout, as well.” With the elevated train tracks in the downtown area, “Amtrak can only function from the second floor, so the construction work there will have to be appropriately phased to allow for access to the train platform.” “In general, construction projects at existing facilities where they are active public spaces are, well, a pain. We’ll try to ameliorate the difficulties and frustrations as much as we can, but we surely won’t be able to eliminate them. Patience will be required and understanding that at the end of it we’ll have an improved facility. It will be worth it!” Champaign Township Road District workers leave a salt dome in January 2019 to put de-icing solution on streets in preparation for a winter storm. "Do area road crews still use actual salt to treat icy streets and highways?" Yes, they do. Illinois Department of Transportation engineer Kensil Garnett says IDOT uses both granular salt and a saltwater brine solution to treat roads during ice and snow events. “Salt brine is effective when the roadway temperatures are around 20 degrees F or above,” he said. “When temperatures fall too low for salt to work, we have a Bio-Melt product made from beet juice that we can mix with our saltwater brine to make the treatment effective to temperatures as low as 10 degrees below zero.” He said the beet-juice product is very effective and is not corrosive, like salt brine. “However, it is cost-prohibitive to use it at temperatures where salt brine will work,” he said. “The department’s salt stockpiles are in great shape, and we have an active contract to provide more salt throughout the winter as (needed). Prices for the current contract are very similar to what we have seen for the past couple seasons.” The city of Champaign uses rock salt, a salt-brine solution and calcium chloride to treat city streets, depending on conditions, according to Public Works spokesman Kris Koester. Calcium chloride has a lower freezing point than regular salt (sodium chloride), so it is more effective at lower temperatures. “We have two salt storage buildings, a brine-production facility, and two calcium-chloride tanks on the public works back lot,” Koester said. “We have an adequate supply of salt in the dome and we have a contract with the joint state of Illinois salt contract. In March 2024, we had 5,250 tons on hand and (the city) council approved us to buy up to 2,460 more tons for a price of $90.85 per ton.” Champaign County Highway Engineer Jeff Blue said county road crews use rock salt and a salt-brine solution to treat county highways. He said the salt-storage dome at the county complex in Urbana has “an adequate supply of salt in the dome and we have a contract with a vendor to haul in more salt this winter as we deplete our supply. Costs have been relatively consistent the last few years.” No-passing signs have been added to this part of Cardinal Road east of Staley Road. — No-passing zone. Two weeks ago, an alert reader asked why a good-sized hill on Cardinal Road east of Staley Road was not marked as a no-passing zone. Champaign Township Highway Commissioner Keith Padgett looked into it and consulted with county highway engineers, and they determined the hill and its approaches should have had “do not pass” signage and striping all along. Padgett sent us a photo this week, showing new “do not pass” signs on either side of the hill. He says the new striping has since been applied. — H Mart food court offerings. Last week, a reader asked which eateries would be part of the new H Mart food court when the Asian supermarket opens in early 2025 at 220 N. Broadway in Urbana. No specifics were available in time for last week’s deadline, but a few days ago H Mart sent us a note announcing that JAWS Topokki (Korean street food), Cho Dang (Korean-style tofu house and BBQ), Paik’s Noodle (Korean-style Chinese food) and Paris Baguette (bakery-café) will be featured there. Still no official word on H Mart’s projected opening date.CVB Financial to effect stock buyback program of up to 10M sharesWashington, Nov 25 (AP) Amazon has introduced a handful of robots in its warehouses that the e-commerce giant says will improve efficiency and reduce employee injuries. Two robotic arms named Robin and Cardinal can lift packages that weigh up to 50 pounds. A third, called Sparrow, picks up items from bins and puts them in other containers. Proteus, an autonomous mobile robot that operates on the floor, can move carts around a warehouse. The bipedal, humanoid robot Digit is being tested to help move empty totes with its hands. And there's also Sequoia, a containerised storage system that can present totes to employees in a way that allows them to avoid stretching or squatting to grab inventory. Amazon says Robin is currently being used in dozens of warehouses. The others are in a testing stage or haven't been rolled out widely. But the company says it's already seeing benefits, such as reducing the time it takes to fulfil orders and helping employees avoid repetitive tasks. However, automation also carries drawbacks for workers, who would have to be retrained for new positions if the robots made their roles obsolete. In October, Amazon held an event at a Nashville, Tennessee, warehouse where the company had integrated some of the robots. The Associated Press spoke with Julie Mitchell, the director of Amazon's robotic sortation technologies, about where the company hopes to go from here. The conversation has been edited for length and clarity. Q: When you're working on robotics, how long does it typically take to roll out new technology? A: This journey that we've been on has taken a couple of years. Luckily for us, we've been at this for over a decade. So we have a lot of core technology that we can build on top of. We started these particular robots - Cardinal and Proteus - in this building in November 2022. We came in and began playing around with what it would look like to pack and move a production order. Less than two years later, we are at scale and shipping 70 per cent of the items in this building through that robotics system. Q: So, two years? A: We talk about “build, test and scale” and that's about a two-year cycle for us right now. Q: It's challenging to build robots that can physically grab products. How does Amazon work through that? A: As you can probably imagine, we have so many items, so it's an exceptional challenge. We rely on data and putting our first prototype in a real building, where we expose it to all the things we need it to do. Then we drive down all the reasons that it fails. We give it a lot of sample sizes in a very short period of time. For example, a couple of years ago, we launched our Robin robotics arm – a package manipulation robot – and we're at 3 billion picks. So the ability to launch into our network, rapidly collect data, scale and iterate has enabled us to go fast. The challenge itself can be boiled down to three simple things: you need to perceive the scene, plan your motion and then execute. Today, those are three different parts of our system. Artificial intelligence is going to help us change all of that, and it's going to be more outcome-driven, like asking it to pick up a bottle of water. We're on the verge, so that's why I'm personally excited to be here at the onset of generative AI and use it to dramatically improve the performance of our robotics. Q: How do you think about the impact of automation on Amazon's workforce as you're developing the technology? A: With the technology we've deployed here, we're creating new roles for individuals that can acquire new skills to fulfil those roles. And these new skills are not something that is too difficult to achieve. You don't need an engineering degree, Ph.D. or any really technical skills to support our robotics systems. We designed the systems so they're easy to service and train on the job to be a reliability maintenance engineer. We are working backwards from the idea that we want to employ more skilled labor. These opportunities are obviously higher paid than the entry level jobs in our buildings. And partnering with MIT has helped us understand what matters most to our team as we're deploying these technologies across our network. Q: Are you experiencing any challenges as you introduce these robots in your warehouses? A: Not in the adoption. We're integrating it. But these are complex systems and this is the real world, so things go wrong. For example, we had bad weather due to the storms in the Southeast. When I look at the robotics systems data, I can tell the weather is bad outside because that dramatically affects how the ship dock works. When trucks don't arrive on time or when they can't leave, you see bottlenecks in the building in strange ways. Containers build up, we have to put them in different places, and then humans need to recover them. So communication between what our robotics system is doing and what we need employees in the building to do to recover is important. It's a collaboration of automation and humans to deal with real-world problems. It's not a matter of having robotics take over but making it one system of humans and robotics working together to accomplish the goal of shipping the product. (AP) PY PY (This story has not been edited by THE WEEK and is auto-generated from PTI)
Harry and Meghan’s polo docuseries to highlight ‘grit behind the glamour’TORONTO — Losses in the tech sector led Canada's main stock index lower in late-morning trading on Friday, while U.S. stock markets also fell. The S&P/TSX composite index was down 93.03 points at 24,753.79. In New York, the Dow Jones industrial average was down 437.35 points at 42,888.45. The S&P 500 index was down 86.37 points at 5,951.22, while the Nasdaq composite was down 402.43 points at 19,617.93. The Canadian dollar traded for 69.39 cents US compared with 69.51 cents US on Tuesday. The February crude oil contract was up 66 cents at US$70.28 per barrel and the February natural gas contract was up five cents at US$3.37 per mmBTU. The February gold contract was down US$19.70 at US$2.634.20 an ounce and the March copper contract was down less than a penny at US$4.12 a pound. This report by The Canadian Press was first published Dec. 27, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) The Canadian Press
LAS VEGAS — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. "As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It's an honor for General Motors and Cadillac to join the world's premier racing series, and we're committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM's engineering expertise and technology leadership at an entirely new level." The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. People are also reading... Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. "We're excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we're assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world." Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. "The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team," Michael Andretti posted on social media. "I'm very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!" The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti's dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years, and F1 initially denied the application despite approval from F1 sanctioning body FIA. The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they've already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti's application was the only one of seven applicants to meet all required criteria to expand F1's current grid. "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. "Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024," F1 said in a statement. "Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." Get local news delivered to your inbox!
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