Trump's tariff threat a grim reminder of turbulent trade in first administration WASHINGTON — Donald Trump threatened the United States's closest neighbours with big tariffs this week, in a move that has reminded many of the unpredictable tactics the president-elect deployed during his first tenure in the White House. Kelly Geraldine Malone, The Canadian Press Nov 26, 2024 1:06 PM Nov 26, 2024 1:20 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message President-elect Donald Trump gestures after speaking during an America First Policy Institute gala at his Mar-a-Lago estate, on Nov. 14, 2024, in Palm Beach, Fla. THE CANADIAN PRESS/AP, Alex Brandon WASHINGTON — Donald Trump threatened the United States's closest neighbours with big tariffs this week, in a move that has reminded many of the unpredictable tactics the president-elect deployed during his first tenure in the White House. Trump said Monday he would use an executive order to impose 25 per cent tariffs on all goods coming from Canada and Mexico until the two countries stop drugs and migrants from illegally crossing the U.S. border. The announcement, made on Truth Social, brought swift responses from officials and industry in both countries who are bracing for chaos during Trump's second tenure. He has long used the threat of import taxes to pressure other countries to do his bidding, saying this summer that "the most beautiful word in the dictionary is 'tariff.'" It's unlikely the move would violate the Canada-U.S.-Mexico Agreement, which was negotiated during the first Trump administration. Laura Dawson, an expert on Canada-U. S. relations and the executive director of the Future Borders Coalition, said the president can impose tariffs under his national security powers. This type of duty has a time limit and can only be made permanent through Congressional approval, but for Trump, national security powers are like a "get out of jail free card," Dawson said. "This is exactly what happened in the last Trump administration," Dawson said. "Everyone said, 'Well, that is ridiculous. Canada is the U.S.'s best security partner. What do you mean our steel and aluminum imports are somehow a source of insecurity?'" But within the global trade system, she said, no country challenges another's right to define their own national security imperatives. Trump's first administration demonstrated how vulnerable Canada is to America's whims when the former president scrapped the North American Free Trade Agreement. The U.S. is Canada's closest neighbour and largest trading partner. More than 77 per cent of Canadian exports go to the U.S. Negotiation of CUSMA, commonly dubbed "the new NAFTA," was a key test for Ottawa following Trump's first victory. The trilateral agreement is up for review in 2026 and experts suspect this week's tariff announcement is a negotiating tactic. Scott Bessent, Trump's pick for treasury secretary, said in a recent op-ed that tariffs are "a useful tool for achieving the president's foreign policy objectives." "Whether it is getting allies to spend more on their own defence, opening foreign markets to U.S. exports, securing co-operation on ending illegal immigration and interdicting fentanyl trafficking, or deterring military aggression, tariffs can play a central role." During the initial CUSMA negotiations in 2018, Trump floated the idea of a 25 per cent tariff on the Canadian auto sector — something that would have been crippling for the industry on both sides of the border. It was never implemented. At the time, he did use his national security powers to impose a 25 per cent tariff on steel and 10 per cent tariff on aluminum imports, casting fear of an all-out trade war that would threaten the global economy. The day after announcing those levies, Trump posted on social media "trade wars are good, and easy to win." Former U.S. trade representative Robert Lighthizer recounted in his book that the duties sent an "unmistakable signal that business as usual was over." "The Trump administration was willing to ruffle diplomatic feathers to advance its trade agenda." It led to a legendary clash between Prime Minister Justin Trudeau and Trump at the G7 in Quebec. Trudeau said Canada would impose retaliatory measures, saying the argument that tariffs on steel and aluminum were a matter of national security was "kind of insulting." Trump took to social media, where, in a flurry of posts he called Trudeau "very dishonest and weak." Canada and other countries brought their own duties against the U.S. in response. They targeted products for political, rather than economic, reasons. Canada hit yogurt with a 10 per cent duty. Most of the product impacted came from one plant in Wisconsin, the home state of then-Republican House Speaker Paul Ryan. The European Union, Mexico and Canada all targeted U.S. whiskey products with tariffs, in a clear signal to then Republican Senate Majority Leader Mitch McConnell and his home state of Kentucky’s bourbon industry. Ultimately, Canada and Mexico were able to negotiate exemptions. Carlo Dade, the director of trade and trade infrastructure at the Canada West Foundation, said Trump is returning to the White House with more experience and a plan. But he suspects Americans will not like the blow to their bank accounts. Trump’s new across-the-board tariff strategy would not only disrupt global supply chains, it would also cause a major shakeup to the American economy. It's unclear if Trump will go through with them, or for how long, after campaigning on making life more affordable and increasing the energy market. "I think it will be short-term," Dade said. "The U.S. can only inflict damage on itself for so long." This report by The Canadian Press was first published Nov. 26, 2024. — With files from The Associated Press Kelly Geraldine Malone, The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National News Economic impact of Taylor Swift's Eras Tour in Vancouver estimated at $157 M Nov 26, 2024 1:45 PM Paul Bernardo denied parole after victims' families plead he be kept behind bars Nov 26, 2024 1:39 PM Trudeau, premiers to meet Wednesday after Trump trade threat Nov 26, 2024 1:30 PM Featured FlyerA massive shift is underway across Australia’s sizzling property market, with the data throwing up 8 key real estate trends to watch in 2025. The Property Outlook Report 2025 has been released naming eight key areas to watch across 2025 in both residential and commercial property. Ray White chief economist Nerida Conisbee. Report co-author Ray White chief economist Nerida Conisbee said financial markets think the Reserve Bank of Australia (RBA) will cut interest rates twice in the second half of the year. But, she said, that prediction could change depending on how inflation and the economy play out. “The most important is inflation. While it’s now back within the RBA’s target range, there are risks it could rise again. One big unknown is what happens in the United States. With Donald Trump winning the presidential election, this will boost government spending and put high taxes on Chinese goods. This could push up prices worldwide, including in Australia, making it harder for the RBA to cut rates.” Ray White Property Outlook Report 2025 says RBA will follow global rate cuts in 2025. $900k in a year: Qld’s price growth boom suburbs Qld cricket power couple’s multimillion dollar bounce back Ms Conisbee said the health of the economy would also be crucial for any rates movement in 2025. “If people start spending less in shops, house prices fall significantly, or unemployment begins to rise, the RBA might need to cut rates sooner than planned. They’ll be watching these signs closely throughout the year.” She said there will be rate cuts in 2025 but their timing and size will depend on how inflation behaves, what happens to the global economy and how the Aussie economy holds up across 2025. Ms Conisbee says there are signs that the Australian housing market is cooling into 2025, but the picture varied across the country with Perth, South-East Queensland and Adelaide still strong and Sydney and Melbourne slowing considerably and almost flat. “This pattern is likely to continue in early 2025, driven by several factors. More homeowners are feeling the strain of high mortgage payments, and we’re seeing an increase in property listings as some decide to sell. This higher supply of homes for sale could put downward pressure on prices in some areas.” But she said strong population growth, high building costs, and high expectation of rate cuts in 2025 should prevent any significant drop in house prices. Property prices were expected to be supported by continued strong population growth. Paved in gold: City’s richest streets revealed Unfixed fixer-upper’s crazy profit in just 4 months Strong population growth created “a natural floor for how far prices might fall”. “This is particularly true in Perth and Brisbane where growth remains very strong, but is also the case in Melbourne and Sydney where international migration will remain strong, although potentially at lower levels compared to 2024.” She said the cost of building new homes has not come down so there are fewer dwellings being built which pushes more buyers to existing homes that in turn supports high prices. “The outlook suggests a period of modest price growth or stability rather than significant falls. Markets that have already slowed, like Sydney and Melbourne, might stay flat until rate cuts begin. Meanwhile, cities with stronger economic conditions like Perth could continue to see some growth, though likely at a slower pace than in 2024. The key timing to watch will be when interest rates start to fall, as this could mark a turning point for price growth in the larger markets.” Ray White senior data analyst Atom Go Tian. Ray White senior data analyst Atom Go Tian expects shifts across Australia’s premium property markets that is the top 5 per cent of the market in each region. “The pecking order of Australia’s premium property markets is experiencing its most dramatic realignment in years,” he said. “with traditional hierarchies being challenged and new players climbing to the fore.” Luxury refers to houses in the top 5 per cent of the market. Sydney still has a major lead on other markets sitting above $4m across its top 5 per cent, despite having the slowest growth rate in years, but other areas like regional Queensland’s coastal markets have also surged. “The Gold Coast, with an impressive 50 per cent growth over five years, has finally achieved what many predicted: overtaking Melbourne as the second most expensive luxury market,” he said with its top 5 per cent of houses priced at $2.54m compared to Melbourne’s $2.51m. He said the Sunshine Coast looks to be following suit in by the end of 2025, having seen a 48.73 per cent five-year growth rate, with its top 5 per cent price now at $2.37m. Brisbane, Perth – both with the top 5pc over the $2m mark after 5-year growth of 55 and 53pc respectively were rising fast, as well as Adelaide which has its top 5 per cent above $1.8m off 5-year growth of 56pc. “Looking ahead, the market appears to be trending toward a new baseline, with all major cities except Darwin expected to reach or exceed the $2m mark for luxury properties.” Mr Tian said the property restructuring is seeing the creation of a “Golden Arc”, stretching from the Gold Coast to Brisbane to the Sunshine Coast which will emerge stronger in 2025 – all three having overtaken Melbourne in the last two years. “The Gold Coast and Sunshine Coast have established themselves as Australia’s second and third most expensive housing markets, with remarkably similar geometric mean house prices of $1.18m and $1.14m respectively. Both regions have also witnessed an identical 76 per cent increase in prices over the past five years.” “Brisbane, while still more affordable at a geometric mean house price of $996,000, is also showing signs of joining its coastal counterparts to complete the Golden Arc. The city has the second-highest five-year growth rate of 83.5 per cent, trailing only Adelaide.” Sydney’s average house price rose to $1.59m in 2024, staying ahead of the pack, but other cities are chasing strongly. A mid market was now developing across Melbourne, Perth and Adelaide within a 17 per cent price range of each other, he said. “Five years ago, these markets were spread across an 80 per cent price range. This compression suggests that Perth and Adelaide may soon overtake Melbourne in terms of house prices, further contributing to the formation of a distinct mid-market cluster between $850,000 and $1m.” “In summary, we can expect several key developments. Perth and Adelaide may surpass Melbourne in price, reinforcing the shift in the mid-market cluster. The Golden Arc is likely to emerge with Brisbane joining the Gold Coast and Sunshine Coast as premium markets. Finally, Sydney’s isolation at the top is expected to widen, further emphasising the “two-speed” nature of the market.” Mr Tian said the million-dollar club was set to rise significantly across regional Australia, having already gone from just two areas five years ago to 20 locations in 2024 – with four more on track to hit it in 2025 and a further seven serious contenders for seven-figure medians through the year. “The Sunshine Coast Hinterland, currently at $972,787, is projected to reach $1.05m, supported by an impressive 8 per cent average annual growth over the past decade,” he said. “Both Ormeau-Oxenford in the Gold Coast and Newcastle in regional New South Wales, currently hovering around $960,000, are expected to reach $1.03m, driven by consistent 7 per cent annual growth rates. Lake Macquarie-East completes this emerging group, with current house prices of $955,128 expected to rise to $1.02m in the coming year.” Four more areas in regional Australia will have $1m medians in 2025, with seven more on the verge of joining the club. The seven other areas that are serious contenders for strong price growth into the one million mark have current medians around the $850,000 to $910,000 level with decade-long growth rates around 5 to 8pc – including Augusta-Margaret River-Busselton in Western Australia’s Bunbury region which will be regional WA’s first in the elite club, and several other contenders across the Gold Coast and Sunshine Coast as well regional NSW. Key features of these growth prospects are waterfront and oceanside locations, satellite cities or areas within commuting distance of major metropolitan centres, and lifestyle appeal. Ray White Group head of research Vanessa Rader. When it comes to commercial property, the retail sector is set to shine brightest in 2025, according to Ray White Group head of research Vanessa Rader, “a significant shift from recent years where industrial assets dominated”. She said retail assets had already led total returns for two consecutive quarters with a 2.8 per cent total gain in the latest results, making up 41.1 per cent of all commercial transaction numbers in late 2024 – a massive gain considering its long term average is 28 per cent. ”Despite ongoing discussion about the threat of online retail, physical stores have shown remarkable resilience. Online spending accounts for just 11.4 per cent of total retail transactions and has remained relatively stable over recent years.” The retail sector remains strong especially across metropolitan areas and despite the online threat. Picture: NCA NewsWire / Sharon Smith Its strength was in metro markets, she said, with neighbourhood and subregional centres also showing resilience in the right retail mix, with food, supermarkets and services driving consumer spending. “Limited new supply against strong population growth has driven improved occupancy and rental performance in select markets. The retail landscape is also evolving, with entertainment offerings likely to emerge as a key component of successful centres, creating lifestyle destinations rather than pure shopping venues.” She said “investor attention is clearly pivoting towards retail assets. The sector’s ability to adapt and evolve, combining traditional brick-and-mortar retail with emerging entertainment offerings and online integration, positions it as the commercial property sector to watch in 2025.” Ms Rader sees a structural shift underway in the office market, “driven by evolving tenant demands and intensifying environmental, social and governance (ESG) pressures”. She said B-grade and lower quality assets would struggle without significant capital investment. “If future take up of space echoes results seen in the post pandemic era, vacancies for secondary assets across all Australian markets will reach 22 per cent (from current 15.9 per cent) in the next five years, even considering consistent withdrawal of stock.” “Prime markets however will continue to thrive, vacancies will move downward from the current 13.7 per cent to 5.4 per cent by late 2029, opening up potential for new development.” End-of-trip facilities are now par for the course to attract top tier tenants. She said significant capex was needed to bring older assets up to scratch, given tenant demands for end-of-trip facilities, sophisticated airconditioning systems and smart building technology. Lenders were also seeing this with a looming credit squeeze for the secondary sector set to force some owners to look at alternative uses, including conversion to residential or mixed use “where planning regulations permit”. “The secondary office sector faces a turning point. Buildings unable to meet rising environmental standards and tenant expectations risk becoming stranded assets. The market is likely to see an increase in opportunistic investors targeting these assets for conversion or redevelopment, particularly in locations where alternative uses can unlock greater value.” Ms Rader also expects a dynamic shift via private investors across commercial property in 2025, with “anticipated interest rate reductions expected to reignite transaction activity across all sectors”. “Private investors, armed with improved debt serviceability and renewed confidence, are likely to lead this resurgence. The expected easing of monetary policy should create a more favourable environment for leveraged buyers, potentially driving increased competition for quality assets as debt costs moderate.” Targets include metro retail assets underpinned by strong trade area demographics and essential service offerings. Service stations and retail centres will attract strong private investor interest in 2025. “Neighbourhood centres anchored by supermarkets, combined with healthcare services and daily needs retail, will likely remain highly sought after.” Across industrial assets, private investors were increasingly focusing on the smaller end of town such as industrial units and last-mile logistics facilities, particularly those with value-add potential, she said. “2025 could mark a turning point for the office sector as the market finally adjusts to hybrid working patterns.” “Childcare centres and service stations, delivering annual rental increases with long lease terms, remain highly sought after by yield-focused investors.” The ability to move quickly on opportunities would become increasingly valuable in 2025, she said, “as the market transitions to a more favourable lending environment”. FOLLOW SOPHIE FOSTER
Top Cryptos to Watch Now: Market Trends Suggest High-Growth Potential In 2025NEW YORK (AP) — U.S. stocks closed at more records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street. The S&P 500 rose 0.6% to reach another all-time high. The Dow Jones Industrial Average added 0.3% to its own record set the day before, while the Nasdaq composite rose 0.6% as Big Tech stocks helped lead the way. Stock markets abroad saw mostly modest losses, after President-elect Trump said he plans to impose sweeping tariffs on Mexico, Canada and China as soon as he takes office. U.S. automakers and other companies that could be hurt particularly by such tariffs fell. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.5% and was on track to top its all-time high set a couple weeks ago. The Dow Jones Industrial Average added 81 points, or 0.2%, to its own record set the day before, while the Nasdaq composite was 0.5% higher, with less than an hour remaining in trading. Stock markets abroad were down, but mostly only modestly, after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada's main index edged down by just 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. General Motors sank 8.2%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.9%. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support to the job market . While lower interest rates can boost the overall economy and prices for investments, they can also offer more fuel for inflation. “Many” officials at the Fed's last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. Unlike tariffs in Trump's first term, his proposal from Monday night would affect products across the board. Trump’s tariff talk came almost immediately after U.S. stocks rose Monday amid excitement about his pick for Treasury secretary, Scott Bessent. The hope was the hedge-fund manager could steer Trump away from policies that balloon the U.S. government deficit, which is how much more it spends than it takes in through taxes and other revenue. The talk about tariffs overshadowed another set of mixed profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates instituted by the Fed to get inflation under control. Kohl’s tumbled 17.6% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.7% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. J.M. Smucker jumped 5.4% for one of the biggest gains in the S&P 500 after topping analysts' expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 2.8% for Amazon and 2% for Microsoft were the two strongest forces lifting the S&P 500. In the bond market, Treasury yields rose following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury climbed to 4.30% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It's since dipped back toward $91,600, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.
Meet the 12 CFP Title Contenders: No. 12 Clemson
NEW YORK, Dec. 08, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of PACS Group Inc. PACS of (i) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") in connection with the Company's April 11, 2024 initial public offering ("IPO"); (ii) securities between April 11, 2024 and November 5, 2024, both dates inclusive (the "Class Period"); and/or (iii) common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's September 2024 secondary public offering ("SPO"), of the important January 13, 2025 lead plaintiff deadline . SO WHAT: If you purchased PACS common stock pursuant and/or traceable to the IPO and/or securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the PACS class action, go to https://rosenlegal.com/submit-form/?case_id=30617 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 13, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, in the Registration Statement and throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) PACS engaged in a "scheme" to submit false Medicare claims which "drove more than 100% of PACS' operating and net income from 2020 – 2023"; (2) PACS engaged in a "scheme" to "bill thousands of unnecessary respiratory and sensory integration therapies to Medicare"; (3) PACS engaged in a scheme to falsify documentation related to licensure and staffing; and (4) as a result of the foregoing, defendants' positive statements about PACS' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the PACS class action, go to https://rosenlegal.com/submit-form/?case_id=30617 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. ______________________ Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Gold prices rose on Thursday, driven by safe-haven demand in light trading after the Christmas holiday as markets awaited signals on the U.S. economy under the incoming Trump administration and Federal Reserve's interest rate strategy for 2025, Reuters reported. ET Year-end Special Reads Corporate Kalesh: Top family disputes of India Inc in 2024 The world of business lost these eminent people in 2024 Fast, faster, fastest: How 2024 put more speed into your shopping Spot gold rose 0.7 per cent to $2,631.52 per ounce, as of 12:01 pm (ET). U.S. gold futures added 0.5 per cent to $2,648.50. "Some of gold's gains had to do with what's going on in Ukraine with Russia hitting Ukraine's electrical system," said Daniel Pavilonis, senior market strategist at RJO Futures. 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Gold is considered a hedge against geopolitical turmoil and inflation, but higher rates reduce the appeal of holding the non-yielding asset. The yellow metal has gained 28 per cent so far this year and scored an all-time peak of $2,790.15 on October 31. Next year will be very volatile for bullion, with first-half gains on heightened geopolitical tensions and profit-taking in the second half, said Ajay Kedia, director at Kedia Commodities, Mumbai. As Donald Trump prepares to return to the White House in January, markets will be closely monitoring U.S. economic data to gauge how the Fed will navigate inflationary pressures anticipated from his administration's policies, including tariffs, deregulation and tax reforms. After aggressively cutting rates in September and November, the Fed persisted with easing in December but hinted at fewer reductions in 2025. Spot silver rose 0.4 per cent to $29.73 per ounce, platinum fell 0.6 per cent to $938.35 and palladium shed 2.9 per cent to $925.24. FAQs Q1. Why is Gold considered as safe? A1. Gold is considered a hedge against geopolitical turmoil and inflation, but higher rates reduce the appeal of holding the non-yielding asset. Q2. What is prediction for Gold Price ? A2. Next year will be very volatile for bullion, with first-half gains on heightened geopolitical tensions and profit-taking in the second half, said Ajay Kedia, director at Kedia Commodities, Mumbai. (You can now subscribe to our Economic Times WhatsApp channel )
Washington [USA], December 21 (ANI): The first trailer for the latest season of Investigation Discovery’s ‘The Curious Case of...’ series was released on Friday. The new season takes a closer look at the conservatorship involving former Jackass star Brandon “Bam” Margera as he battled substance abuse and addiction, as reported by The Hollywood Reporter. The premiere episode, which is set to air on January 13 on Max, looks into Margera’s journey toward sobriety, which included a controversial conservatorship. The trailer shows a legal tug-of-war between BJ Corville, a lawyer investigating Margera’s case, and Lima Jeramovic, a tech entrepreneur using VR technology in his addiction treatment. In the trailer, Margera compares his situation to Britney Spears, saying, “I’m the Britney Spears of Jackass,” referring to the pop star’s highly publicized conservatorship battle that ended in 2021 after 14 years. Natalia Grace is not the only curious case... Watch #TheCuriousCaseOf January 13 at 10/9c on ID pic.twitter.com/5CrijWHDlX — Investigation Discovery (@DiscoveryID) December 20, 2024 The episode shows how Margera’s struggles with addiction and mental health, including a bipolar disorder diagnosis and multiple rehab stints since 2009, led to his placement under legal guardianship. The conservatorship handed over decision-making powers to others while he sought treatment. Margera, once a core member of the Jackass crew, was let go from Jackass 4 in 2021 after failing a drug test. He later filed a lawsuit claiming his termination was illegal discrimination due to his physical and mental health challenges. As per The Hollywood Reporter, the episode features interviews with Lima Jeramovic, BJ Corville, Margera’s family, and his former Jackass co-star, Steve-O. Legal analyst Beth Karas, who appeared in ‘The Curious Case of Natalia Grace’, is also part of the series. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
I've said it before and I'll say it again, what a difference a week makes for interest rates. Only recently the market was expecting the Reserve Bank of Australia (RBA) to make a cut to the cash rate before then of the year. Then suddenly expectations changed and borrowers were warned that February was more likely to be the month when the central bank finally takes action. Now, following the release of the minutes from the RBA's most recent meeting, much to the dismay of mortgage holders, the market is pushing back its rate cut expectations even further. At the time of writing, the ASX 30 Day Interbank December 2024 contract was trading at 95.675, indicating a 9% expectation of an interest rate decrease to 4.1% at the next RBA Board meeting. Even worse, the implied yield curve points to the first interest rate cut taking place in June or July of 2025. This is a bitter blow to the many Australians that are struggling after rates surged higher over the past couple of years. But does the ( ) economics team agree with the market? Let's see what its team is saying following last week's data dump. When does Westpac expect interest rates to fall? According to its latest , unfortunately Australia's oldest agrees that there will be no cut to rates in February anymore. Though, its chief economist, Luci Ellis, doesn't believe that the delay will mean higher interest rates in the future. She continues to believe that the RBA will take the cash rate down to 3.35% by the end of 2025. Ellis said: We have revised our view of the most likely scenario for the path of the RBA's cash rate, pushing out the start date of the rate-cutting cycle from February to May. Similar to the pattern in some peer economies, we expect the initial moves to be somewhat front-loaded, with consecutive cuts in late May and early July. This is also a change from our previous expectation of a moderate pace of decline of one cut per quarter. We continue to expect the terminal rate to be 3.35%, to be reached by year-end 2025. And while Ellis isn't ruling out cuts in February, she also isn't ruling out an even later start. The chief economist said: As always, our view on the cash rate is predicated on things turning out broadly as we expect, which can differ from the RBA's own view. An earlier start in February or March is still possible, but it is no longer more likely than a May start date. A later start date is also a risk scenario, if inflation does not decline as the RBA is currently forecasting, let alone our own marginally more dovish expectation. That said, the longer the RBA Board waits, the faster they will need to move thereafter, as it would then be more likely that they have hesitated too long. Overall, not the news that borrowers wanted to hear. But a lot can change in a short period of time, so this certainly isn't the end of the story.( ) is one of the world’s biggest dairy product producers and is a top Canadian stock in its own right. The company has seen relatively frequent ups and downs in dairy prices and various supply chain disruptions affecting its stock price. One look at the chart below highlights these trends. However, with Saputo stock now trading near the lower end of what appears to be a rather consistent longer-term band, the question many investors have is whether this stock can bounce back from here toward the $35-per-share level. Let’s dive into where this stock could be headed over the near to medium term. Near-term outlook Saputo’s business model is relatively straightforward, with the dairy producer’s portfolio comprised of cheese, fluid milk, flavoured milk, dairy ingredients, extended shelf-life milk, cultured products, functional dairy blends, dairy ingredients, and cream products. The company operates facilities in Australia, Canada, and the U.S. Saputo’s recent first-quarter (Q1) results showed revenue growth of 9.5% and net earnings, which remained stable at $0.33 per share. Thus, margins continue to be under pressure, and the company’s stock price has clearly reflected the market’s concern on this front. That said, earnings before interest, taxes, depreciation, and amortization growth has been positive, up around 5.8% on a year-over-year basis, and leading some investors to consider this stock as a potential defensive play, given how insulted the Canadian dairy sector is. If the economy continues to churn along (pun intended) in the coming years, this is certainly a stock I think can head toward the higher end of its historical trading band, though risks do exist. Medium-term outlook Over the next five years, I’m less optimistic about Saputo’s prospects. The dairy sector is noted for its high levels of competition. And while Saputo may be relatively insulated in the Canadian market, the company’s international sales could be impacted by any sort of global economic downturn. We haven’t seen a recession in some time, and while that may not be the consensus projection of most analysts out there, this is a stock I’d be wary of moving forward. Additionally, increased tariffs from the U.S. and isolationist policies could impact Saputo’s business in this key market. I’m of the view Saputo is a stock that investors can hold for the very long term (more than five years), but anything can happen over the coming years. However, near its lower historical stock price range, this stock does look relatively attractive at current levels. And with a dividend yield of 2.9%, there is an argument to be patient and wait for a rebound while holding onto this .
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