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Trump’s tariffs in his first term did little to alter the economy, but this time could be differentBy JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Democrats and business groups warn of risks from Trump’s tariff threats Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump’s first term tariffs had a modest impact on economy Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. Trump wants much more far-reaching tariffs going forward The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.
The expanded Big Ten is poised to be a major player in this season's College Football Playoff. The 18-team conference had three of the top-four teams in the AP poll this week — No. 1 Oregon, No. 2 Ohio State and No. 4 Penn State. A one-loss Indiana team is ranked 10th but is still very much a contender to make the playoff, given how many Southeastern Conference teams have three defeats or more. Indiana's rise has been perhaps the Big Ten's biggest story this season. Much of the spotlight was on newcomers Oregon, Southern California, UCLA and Washington, but aside from the top-ranked Ducks, that foursome has struggled to impress. Meanwhile, the Hoosiers won their first 10 games under new coach Curt Cignetti before losing at Ohio State last weekend. Oregon beat Ohio State 32-31 back in October, and if the Buckeyes beat rival Michigan this weekend, they'll earn a rematch with the Ducks for the Big Ten title. People are also reading... And it's entirely possible another matchup between those two teams awaits in the CFP. Star power Dillon Gabriel has quarterbacked Oregon to an unbeaten record, throwing for 3,066 yards and 22 touchdowns in 11 games. But don't overlook Iowa's Kaleb Johnson and his 21 rushing TDs, and quarterback Kurtis Rourke has been a big part of Indiana's improvement. Penn State's Abdul Carter has eight sacks and two forced fumbles and could be one of the top edge rushers drafted this year. Going bowling Oregon (11-0, 8-0), Ohio State (10-1, 7-1), Penn State (10-1, 7-1), Indiana (10-1, 7-1), Illinois (8-3, 5-3), Iowa (7-4, 5-3), Michigan (6-5, 4-4), Minnesota (6-5, 4-4), Washington (6-5, 4-4), Southern California (6-5, 4-5), Nebraska (6-5, 3-5) and Rutgers (6-5, 3-5) have already reached the six-win mark for bowl eligibility. Michigan State (5-6, 3-5) and Wisconsin (5-6, 3-5) can join them. Hot seats There may not be many firings in general at the top level of college football. The prospect of sharing revenue with athletes in the future might lead schools to be more judicious about shedding one coach and hiring a new one. Who should be most worried in the Big Ten? Well, Lincoln Riley is struggling to stay above .500 in his third season at USC. Purdue is 1-10, but coach Ryan Walters is only in his second season. Maryland's Mike Locksley has been there six years and his Terrapins are 4-7, but this was his first real step backward after guiding the team to three straight bowl wins. Cignetti has shown it is possible for a coaching change to push a previously moribund program to some impressive heights in a short amount of time — but the improvement has been more incremental at Michigan State following Jonathan Smith's arrival. Sherrone Moore wasn't a completely unknown commodity at Michigan after he won some massive games in place of a suspended Jim Harbaugh last year. But in his first season completely at the helm, the Wolverines have declined significantly following their national title a season ago. Youth movement The Big Ten is home to one of the most dynamic freshmen in the country in Ohio State receiver Jeremiah Smith. He has 52 catches for 899 yards and nine touchdowns. Highly touted quarterback Dylan Raiola has teamed up with fellow freshman Jacory Barney (49 catches) to lead Nebraska to bowl eligibility. Recruiting watch Ohio State is on track to land the Big Ten's top class, according to 247 Sports, but the big news recently was quarterback Bryce Underwood flipping from LSU to Michigan. If the Wolverines do in fact keep Underwood in his home state, that would be a big development for Moore. Be the first to know Get local news delivered to your inbox!John Milligan-Whyte How can China achieve a breakthrough deal with the next US administration after Donald Trump assumes office on Jan 20 despite the wide expectation he would implement highly disruptive domestic and foreign policies? The best-case scenario would be the two countries holding discussions to negotiate and sign a concise but comprehensive “package deal” that better aligns with their economic needs and goals and is conducive to the peaceful coexistence of China and the United States. Such a breakthrough deal will be necessary to end the worldwide financial crisis that will be triggered by an escalating trade war, destabilizing the two largest economies which account for 41 percent of the global GDP. Unlike any other US president, Trump is an excellent business deal-maker who could happily sign a two-page agreement creating a new, mutually beneficial framework for Sino-US relations, if the agreement dramatically stimulates the US economy and creates millions of jobs in the US. The worst-case scenario is the US intensifying the tariff and trade wars, and triggering confrontation in the high-tech sector, in a bid to prevent the “Made in China 2025” plan from achieving success. The worst-case scenario was summarized by former US secretary of state Henry Kissinger: “Unless there is some basis for cooperative action the world will slide into a catastrophe comparable to World War I. Military technologies available today make such a crisis even more difficult to control.” In one of his last interviews, Kissinger sadly said a war between the US and China was “probable”. Trump’s reelection as US president has now made a catastrophic breakdown in US-China relations “probable”. But it has also made a constructive breakthrough possible either through an early agreement between the two countries or later through a sudden breakthrough deal essential for the benefit of the US economy and people. US trade wars can trigger a financial crisis and stop the functioning of the global credit and capital market. In such a situation, only a breakthrough agreement between the two countries will be able to restore business confidence and reinvigorate the capital and credit markets quickly enough to stop the collapse of the global financial, economic and trading systems. Trump’s reelection has created a unique opportunity for achieving a breakthrough in US-China relations, because only Trump can ignore the entrenched hostile views of China in the US’ traditional policy-making establishment, think tanks and bureaucracy. Trump realizes that traditional Sino-US economic relations can no longer meet the US’ growth and national security needs. That is why he is likely to make major changes in the US’ domestic and foreign policy. The Republican Party’s control of both the House of Representatives and Senate can make many of Trump’s radical policies clear and present dangers. However, Trump is a presidential deal maker who can overcome the key problems economist Larry Summers warned of in US policymaking. “Can the United States imagine a viable global economic system in 2050 in which its economy is half the size of the world’s largest? Could a political leader acknowledge that reality in a way that permits negotiation over what such a world would look like? While it might be unacceptable to the United States to be so greatly surpassed in economic scale, does it have the means to stop it? Can China be held down without inviting conflict?” Trump won a clear mandate because many American voters liked the economic policies he claimed he would implement as US president. The voters elected him to force change. Since his tariff war and trade policies that demanded unrealizable concessions from China failed during his first term, he has indicated to impose 60-100 percent tariffs on Chinese goods, which he unrealistically believes will force China to accept his demands. The failure of his first term’s tariff policies foreshadows the failure of his second term’s even more extreme trade war. The reality that will eventually prevent Trump from achieving his unrealizable demands is that neither the US nor China can win relentless zero-sum game competitions. Given that leaving behind a widely appreciated, successful breakthrough economic deal with China is better than causing a catastrophic economic confrontation, Trump’s legacy could be either achieving a breakthrough deal with China or causing the global financial system’s collapse.
Coming off what was likely a week's worth of intense practices, No. 10 Kansas returns home for a matchup with North Carolina State on Saturday afternoon in Lawrence, Kan. The Jayhawks (7-2) lost back-to-back games versus unranked opponents, the first time in school history that they have done that while ranked No. 1. Now they have to regroup to face the Wolfpack (7-3). Kansas lost its first two games of the season emphatically: 76-63 at Creighton on Dec. 4 and 76-67 at Missouri last Sunday. Coach Bill Self, who has only lost three straight games four times in his 21-year career at Kansas, was pretty succinct about his team's play following the loss to Missouri. "I think it was probably a combination of them being good and us not being good," he said. "I don't know that I could give them 100 percent credit, but that's what happens in sports. When the other team is doing things to hurt you, and you don't attack it well, they guard you the same way. "A lot of times you just roll it straight because of just not being as prepared or ready. I think it was a combination of both. I would err on the side of giving them more credit, because if I just say we sucked, that would take credit from them. We did suck, but it was in large part them." The Jayhawks still have a balanced and experienced attack, led by seniors Hunter Dickinson (15.0 points per game), Zeke Mayo (10.9), Dajuan Harris Jr. (10.7) and KJ Adams Jr. (9.8). Their biggest problem against Missouri was the 22 turnovers. "It's been a crap week for all of us," Self said on his weekly radio show Tuesday. "But hopefully we get an opportunity to bounce back. "I'm not going to make any excuses. If you don't perform the way we didn't perform, there certainly can be some valuable things to learn from that hopefully will give us a chance to win the war and not just the battle." NC State has won back-to-back games, including the ACC opener against Florida State on Dec. 7. In their last game, the Wolfpack handled Coppin State 66-56 on Tuesday. That's not to say NC State coach Kevin Keatts was impressed. "I thought we did a terrible job at the end of shot clocks when they were going to take a bunch of bad shots but we fouled them," Keatts said. "That being said, you can learn a lot from a win instead of a loss. "We compete hard every day, and our energy is always high. With this group, I'm trying to get everyone to be consistent." The Wolfpack has a trio of double-digit scorers, led by Marcus Hill (13.0 ppg). Jayden Taylor adds 12.5 and Dontrez Styles chips in 10.6. Ben Middlebrooks (9.2) and Brandon Huntley-Hatfield (8.7) round out the top five. Huntley-Hatfield (5.6 rebounds per game) and Styles (4.6) also lead a balanced rebounding attack. The Jayhawks have won 12 straight games in the series with North Carolina State. --Field Level MediaNew Year’s Eve with JR’s Comedy Club
There seems to be a recurring curse when it comes to adapting James Patterson's best-selling Alex Cross novels for the screen. Those who grew up in the 90s may remember crime thrillers Kiss The Girls (1997) and Along Came A Spider (2001), starring Morgan Freeman as the titular forensic psychologist and detective. Despite box office successes, these films received mixed-to-negative reviews from critics. The 2012 reboot, Alex Cross, starring Tyler Perry, fared even worse. Panned by critics and ultimately a box office bomb, it led to the cancellation of a planned sequel. Now, Prime Video has taken a fresh stab at the franchise with Cross, an eight-episode series that aims to breathe new life into Alex Cross's story. Starring Aldis Hodge as the brilliant but troubled detective, the series chronicles his pursuit of some of America's most dangerous killers. While Cross begins on shaky ground, it eventually finds its footing, proving to be a mixed yet fair engaging effort. The series introduces us to Alex Cross at a difficult juncture in his life. Haunted by the tragic death of his wife, Maria (Chaunteé Schuler Irving), and struggling to balance his career with his responsibilities as a father, Cross's personal and professional worlds are in turmoil. Teaming up with his loyal yet hot-headed best friend, John Sampson (Isaiah Mustafa), he embarks on a mission to capture a sadistic serial killer. Along the way, buried secrets from his past resurface, threatening to unravel the life he's painstakingly rebuilt. Hodge is the heart and soul of the series, delivering a standout performance that elevates the material. His portrayal of Alex Cross captures the character's emotional complexity -- confident and methodical in his work, yet deeply vulnerable beneath his hardened exterior. Hodge's nuanced approach makes Cross a compelling figure, even when the narrative surrounding him falters. Prime Video Unfortunately, much of the supporting cast is saddled with clichéd archetypes. John Sampson is the loyal sidekick with a short fuse. The show features an outspoken female detective, a quirky comic-relief character, and a crooked superior seemingly out for personal gain. While the actors do their best, these roles feel underdeveloped and overly familiar. The story picks up a year after Maria's death, and the stakes are personal from the outset. When a menacing figure begins taunting Alex at his home, his grief and anger are brought to the forefront. Meanwhile, the central mystery -- a chilling serial killer case -- unfolds across the eight episodes. However, the series struggles with pacing, particularly in its early episodes. The first half (episodes one through four) feel scattered, with too many plots competing for attention. I found myself losing hope during this stretch, but a pivotal moment in episode four reeled me back in, reigniting my interest and carrying me through to the finale. While I haven't read the books, I can confidently say that the show's greatest strength lies in Hodge's performance. He breathes life into Alex, giving the character a depth that anchors the series. However, the antagonist is a significant weak point. They're a one-dimensional sociopath with a grandiose, cartoonish personality and no meaningful motivation beyond a desire for infamy. While a black-and-white portrayal of evil can work in certain contexts, this series, with its cat-and-mouse thriller structure, had ample opportunity to explore shades of gray. Unfortunately, it misses the chance to delve into the psychological parallels between Alex and his adversary, opting instead for a more simplistic approach. With episodes ranging from 45 minutes to an hour, there was plenty of room for meaningful storytelling, but the writing doesn't fully capitalise on this potential. Some episodes hint at the show finding its rhythm, only to revert to uneven pacing and underwhelming resolutions. A tighter narrative with a clearer focus on one central storyline could have significantly elevated the series. On a brighter note, Cross boasts strong production. Its modern aesthetic, engaging tone, and dynamic soundtrack inject a sense of freshness into the adaptation. The visuals and music work well to create a distinctive atmosphere, and there are moments that genuinely resonate emotionally. However, these high points are sporadic, leaving the overall experience feeling inconsistent. So, who is Cross for? If you're a longtime fan of the novels and eager to see another live-action take on the character, this series might scratch that itch. For newcomers, it's an easy watch -- something you can enjoy without requiring intense focus. However, if you're looking for a deeply cerebral, edge-of-your-seat detective drama, Cross may not be the right fit. It's more of a popcorn crime thriller than a gripping masterpiece. In the end, Cross is unfortunately another mixed bag added to the franchise -- one that shows glimmers of potential but doesn't quite stick the landing. While Hodge's impressive performance is reason enough to give it a shot, the show ultimately falls short of transcending the "curse" of its predecessors. Cross Starring Aldis Hodge, Isaiah Mustafa, Juanita Jennings Created by Ben Watkins Now streaming on Prime VideoMcALLEN, Texas — SpaceX is launching a new mission: making its Starbase site a new Texas city. Billionaire Elon Musk 's company on Thursday sent a letter to local officials requesting a election to turn what it calls Starbase — the South Texas site where SpaceX builds and launches its massive Starship rockets — into an incorporated city. Residents of the area known as Starbase submitted the petition, according to the company said. The area is on the southern tip of Texas at Boca Chica Beach, near the Mexican border. Earlier this year, Musk announced he was moving the headquarters of SpaceX and his social media company X from California to Texas. "To continue growing the workforce necessary to rapidly develop and manufacture Starship, we need the ability to grow Starbase as a community. That is why we are requesting that Cameron County call an election to enable the incorporation of Starbase as the newest city in the Rio Grande Valley," Kathryn Lueders, the general manager of Starbase, wrote in a letter to the county. Cameron County Judge Eddie Teviño Jr., the county's top elected official, did not immediately respond to a message seeking comment Thursday. It's not the first time turning Starbase into its own city has been floated. Musk proposed the idea in 2021 when he wrote a social media post that simply said, "Creating the city of Starbase, Texas." More than 3,400 full-time SpaceX employees and contractors work at the Starbase site, according to a local impact study issued by Trevino earlier this year. SpaceX's rapid expansion in the region has drawn pushback from some locals. Earlier this year, a group called Save RGV sued the company in July over allegations of environmental violations and dumping polluted water into the nearby bay. SpaceX said in response that a state review found no environmental risks and called the lawsuit "frivolous."Furious Leicester owner hauls players in for showdown talks over Christmas party and Steve Cooper sacking
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MEXICO CITY (AP) — Over 18,000 people in Mexico have registered online to run for Supreme Court seats and federal judgeships in the country's contentious new selection process , but a random drawing in the end will determine who gets on the ballot, officials said Monday. The ruling party pushed through a constitutional reform in September to make all federal judges stand for election, replacing the system where court employees and lawyers mainly move up through the ranks. Current court employees and their supporters have staged dozens of demonstrations against the reforms, calling them part of a ruling-party campaign to weaken checks and balances and eliminate independent regulatory and oversight bodies. Now, candidates for Supreme Court seats and federal judgeships need only a law degree, a grade point average of 3.2, “five years of professional experience” and five letters of recommendation from neighbors or friends. That, and some luck in the final drawing. Officials rejected criticism that has called the process rushed or amateurish for the often highly technical posts that can hear cases including intellectual property, organized crime and Constitutional law. “The results have been spectacular,” said Arturo Zaldivar, a top advisor to President Claudia Sheinbaum. According to the plan, evaluation committees will have just over a month to review thousands of resumes and whittle the field to about 10 candidates or less for each for the 881 judgeships and nine seats on the Supreme Court. Then 1,793 names chosen at random from those selected will appear on the ballot on June 1. Critics warn that many who land on the ballot will be unknowns who perhaps have never argued a case in the courts they seek to run. “You don’t elect a doctor or a surgeon for an operation based on their popularity, you elect them based on their technical expertise, their ability, their knowledge,” said Sergio Méndez Silva, the legal coordinator for the civic group Foundation for Justice. “That also applies for a judge.” With candidates now having to run election campaigns, critics warn there's a chance drug cartels or political parties could finance them to get friendly judges onto the bench. There are also concerns that the evaluation committees deciding who makes the cut for the selection to appear on ballots may not be impartial. Most committee members were appointed by the legislative or executive branches, controlled by the ruling Morena party. Some critics argue that the current justice system, which is riddled with nepotism, corruption and a lack of accountability, needs to be changed. “We need a justice system that gives results,” said Martínez Garza, an academic and former head of the human rights commission in the northern border state of Nuevo Leon who has registered to run for a Supreme Court seat. Trials in Mexico can last for years, and the ruling party has added to the growing list of crimes for which bail is not allowed, meaning that a large percentage of the prison population is people awaiting trial.
SAN DIEGO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Zeta Global Holdings Corp. (NYSE: ZETA) securities between February 27, 2024 and November 13, 2024. Zeta is a marketing technology company. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Zeta Global Holdings Corp. (ZETA) Failed to Disclose it was Artificially Inflating Financial Results According to the complaint, on November 13, 2024, market research group Culper Research published a report entitled "Zeta Global Holdings Corp (ZETA): Shams, Scams, and Spam.” The report alleged that the “integrity of the Company’s data collection and reported financials” is severely undermined by two factors. First, the report alleged that “Zeta has formed ‘two-way’ contracts with third party consent farms wherein the Company simultaneously acts as both a supplier and a buyer of consumer data,” allowing the Company to “flatter reported revenue growth” and indicating possible “round-tripping” of revenue. Second, the report alleged that Zeta’s collects the majority of its customer data from a network of “sham websites that hoodwink millions of consumers each month into handing their data over to Zeta under false pretenses.” For example, the report alleged the Company and its subsidiaries operate a number of fake job boards which are designed to trick individuals into submitting personal data under the pretense of job applications. The report further alleged that the Company’s “most valuable data” comes from these predatory websites, dubbed consent farms, which are “responsible for almost the entirety of the Company’s growth.” On this news, the Company’s stock price fell $10.46, or 37.07%, to close at $17.76 per share on November 13, 2024. Plaintiff alleges that during the class period, defendants failed to disclose that: (1) Zeta used two-way contracts to artificially inflate financial results; (2) Zeta engaged in round trip transactions to artificially inflate financial results; (3) Zeta utilized predatory consent farms to collect user data; and (4) that these consent farms have driven almost the entirety of Zeta’s growth. What Now: You may be eligible to participate in the class action against Zeta Global Holdings Corp. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 21, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Zeta Global Holdings Corp. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a9e62a12-06db-424e-a9a1-12ca4ed447d5Stock market today: Wall Street slips as the 'Magnificent 7' weighs down the marketColman Domingo Details Why ‘The Madness’ Is a Drama for Today’s Era of Media Feeding Frenzies
49ers' visit gives Packers a chance to damage the playoff hopes of their postseason nemesisTron blockchain founder Justin Sun has invested $30 million into Donald Trump's crypto project, World Liberty Financial, he announced Monday. Philadelphia news 24/7: Watch NBC10 free wherever you are "We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor," Sun wrote in a post on X . Sun recently made national headlines when he spent $6.2 million at a Sotheby's auction for a banana duct-taped to a wall . World Liberty Financial, the Trump-branded crypto platform, aspires to be a sort of digital asset bank, where customers will be encouraged to borrow, lend and invest in digital coins. Trump has licensed his name and promotional considerations to the venture through an LLC, with no assumption of liability. In exchange, Trump's LLC received billions of tokens and the right to 75% of revenues above a $30 million threshold. The platform launched a WLFI token last month , and said in a roadmap that it was looking to raise $300 million at a $1.5 billion valuation in its initial sale. Before Sun's investment, $21.2 million worth of the token had been sold. As of Monday afternoon, $51.2 million worth of the token had been sold, according to its website. Sales now appear to have crossed the $30 million threshold to trigger revenue distribution to Trump's LLC. "The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump ! TRON is committed to making America great again and leading innovation. Let's go!" added Sun. WLFI co-founder Zachary Folkman has said "well over 100,000 people" are on the whitelist to invest in the token. But as of Monday afternoon, only about 20,400 unique wallet addresses hold the token, according to blockchain data tracked by Etherscan, representing roughly 20% of the total number of people who registered. "There have been a number of similarly significant purchases in recent weeks, and we are confident about future success and building out something that helps to make finance freer and fairer," Folkman said in a statement. "We expect more such developments to happen in the coming weeks and months." While Trump does not take office until January, Sun's investment in WLFI, and the revenue it appears to direct to Trump's LLC under the terms disclosed, highlights the way Trump's newer business ventures, like his social media company Trump Media Technology Group and this crypto venture, could offer more direct opportunities for individuals to enrich the president-elect than Trump's hotels and office buildings did. During Trump's first term in office, there were near constant questions about whether foreign governments' lavish spending on rooms and banquets at Trump's Washington, D.C. hotel amounted to violations of the Constitution's "emoluments clause." The clause bars federal office holders from accepting payments or things of value from foreign governments and their representatives. But Trump's hotel rooms and office space have relatively fixed prices, and costs that cut into total profits. By contrast, the investors in Trump's newer ventures — as demonstrated by Sun's token purchase — can inject tens of millions of dollars, instantly, with little to no cost to Trump. Spokespeople for the Trump presidential transition, World Liberty Financial and Sun's Tron did not immediately reply to requests for comment. Sun's purchase comes as Trump actively works to assemble his list of appointees. The president-elect wrapped up cabinet appointments over the weekend and has since moved on to other agency and department leaders. Coinbase CEO Brian Armstrong reportedly met with Trump to discuss appointments on Nov. 18. Within a day, conversations swirled about the potential for Trump to create the White House's first crypto czar . By the end of the week, longtime crypto foe and SEC chairman Gary Gensler, whose term doesn't expire until June 2026, announced he would be retiring on Inauguration Day. Trump has yet to select a nominee to lead the SEC in Gensler's place. Under new leadership, the securities regulator could choose to drop some of its enforcement actions against major crypto ventures. It's unclear how Tron's case could be impacted. In March 2023 , the commission unveiled fraud and unregistered securities charges against Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy. The SEC alleged that Sun engaged in fraud by manipulating the trading activity of the two tokens, creating the appearance of active trading when it did not exist. The unregistered offer and sale charges, on the other hand, are similar to charges the SEC has unveiled against other crypto offerings and exchanges, including Genesis, Gemini , Coinbase , Binance, and Kraken. The crypto industry showed up in force this election cycle. Several notable sector leaders including Gemini co-founders Tyler and Cameron Winklevoss, as well as multiple C-suite executives from crypto firms battling the SEC, donated to PACs supporting the Trump campaign.CHATHAM, N.J. (AP) — That buzzing coming out of New Jersey? It's unclear if it's drones or something else, but for sure the nighttime sightings are producing tons of talk, a raft of conspiracy theories and craned necks looking skyward. Cropping up on local news and social media sites around Thanksgiving, the saga of the drones reported over New Jersey has reached incredible heights. This week seems to have begun a new, higher-profile chapter: Lawmakers are demanding (but so far not getting) explanations from federal and state authorities about what's behind them. Gov. Phil Murphy wrote to President Joe Biden asking for answers. New Jersey's new senator, Andy Kim, spent Thursday night on a drone hunt in rural northern New Jersey, and posted about it on X. But perhaps the most fantastic development is the dizzying proliferation of conspiracies — none of which has been confirmed or suggested by federal and state officials who say they're looking into what's happening. It has become shorthand to refer to the flying machines as drones, but there are questions about whether what people are seeing are unmanned aircraft or something else. Some theorize the drones came from an Iranian mothership. Others think they are the Secret Service making sure President-elect Donald Trump’s Bedminster property is secure. Others worry about China. The deep state. And on. In the face of uncertainty, people have done what they do in 2024: Create a social media group. The Facebook page, New Jersey Mystery Drones — let’s solve it , has nearly 44,000 members, up from 39,000 late Thursday. People are posting their photo and video sightings, and the online commenters take it from there. One video shows a whitish light flying in a darkened sky, and one commenter concludes it’s otherworldly. “Straight up orbs,” the person says. Others weigh in to say it’s a plane or maybe a satellite. Another group called for hunting the drones literally, shooting them down like turkeys. (Do not shoot at anything in the sky, experts warn.) Trisha Bushey, 48, of Lebanon Township, New Jersey, lives near Round Valley Reservoir where there have been numerous sightings. She said she first posted photos online last month wondering what the objects were and became convinced they were drones when she saw how they moved and when her son showed her on a flight tracking site that no planes were around. Now she's glued to the Mystery Drones page, she said. “I find myself — instead of Christmas shopping or cleaning my house — checking it,” she said. She doesn't buy what the governor said, that the drones aren't a risk to public safety. Murphy told Biden on Friday that residents need answers. The federal Homeland Security Department and FBI also said in a joint statement they have no evidence that the sightings pose “a national security or public safety threat or have a foreign nexus.” “How can you say it’s not posing a threat if you don’t know what it is?” she said. “I think that’s why so many people are uneasy.” Then there's the notion that people could misunderstand what they're seeing. William Austin is the president of Warren County Community College, which has a drone technology degree program, and is coincidentally located in one of the sighting hotspots. Austin says he has looked at videos of purported drones and that airplanes are being misidentified as drones. He cited an optical effect called parallax, which is the apparent shift of an object when viewed from different perspectives. Austin encouraged people to download flight and drone tracker apps so they can better understand what they're looking at. Nonetheless, people continue to come up with their own theories. “It represents the United States of America in 2024,” Austin said. “We’ve lost trust in our institutions, and we need it.” Federal officials echo Austin's view that many of the sightings are piloted aircraft such as planes and helicopters being mistaken for drones, according to lawmakers and Murphy. That's not really convincing for many, though, who are homing in on the sightings beyond just New Jersey and the East Coast, where others have reported seeing the objects. For Seph Divine, 34, another member of the drone hunting group who lives in Eugene, Oregon, it feels as if it’s up to citizen sleuths to solve the mystery. He said he tries to be a voice of reason, encouraging people to fact check their information, while also asking probing questions. “My main goal is I don’t want people to be caught up in the hysteria and I also want people to not just ignore it at the same time,” he said. “Whether or not it’s foreign military or some secret access program or something otherworldly, whatever it is, all I’m saying is it’s alarming that this is happening so suddenly and so consistently for hours at a time,” he added. Golden reported form Seattle.
