Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week. The decline ended the Dow Jones Industrial Average's five-session winning streak that had followed a 10-session decline, its worst losing stretch since 1974. According to preliminary data, the S&P 500 lost 65.34 points, or 1.08 per cent, to end at 5,972.25 points, while the Nasdaq Composite lost 294.69 points, or 1.47 per cent, to 19,725.67. The Dow Jones Industrial Average fell 321.73 points, or 0.74 per cent, to 42,992.58. "Today feels like there is quite a bit of profit-taking across the board," said Michael Reynolds, vice president of investment strategy at Glenmede. "We are more than two years into a pretty strong bull market ... so it's really not surprising to see some people taking their profits and rebalancing their portfolios ahead of the new year." The sell-off thwarted the seasonal Santa Claus rally, in which stocks traditionally rise during the last five sessions of December and the first two of January. Since 1969, the S&P 500 has climbed 1.3 per cent on average, according to the Stock Trader's Almanac. Thursday's session hinted at momentum stalling, with both the S&P 500 and Nasdaq posting marginal losses to end multi-session winning runs. Rising US Treasury yields had been catching investors' attention, with the benchmark 10-year note hitting a more than seven-month high in the previous session. The yield hovered close to that mark on Friday, at 4.62 per cent. Higher yields are seen as hampering growth stocks, as they raise borrowing costs for business expansion. These stocks, especially the so-called Magnificent Seven technology megacaps which had been key drivers of the market's 2024 rally, were also caught up in Friday's sell-off. For the second successive day, Tesla led decliners among the group. "We have a higher cost of capital whenever rates go up like this, and they have gone up pretty significantly over the last month or so," said Glenmede's Reynolds. "Investors may just be reassessing the bets they are taking when the cost of capital is higher, perhaps looking at some of the valuations on the Mag 7 and wondering whether they can find better value elsewhere." Most of the 11 major S&P sectors fell. The worst performers on Friday were the three indexes which have been 2024's leading lights: consumer discretionary, information technology and communication services. Despite Friday's travails, all three indexes recorded weekly gains. News events helped some stocks to buck the market sell-off. Amedisys gained after the home health service provider and insurer UnitedHealth extended the deadline to close their $US3.3 billion ($A5.3 billion) merger. Lamb Weston climbed after a filing showed activist investor Jana Partners is working with a sixth executive to push for changes at the French fry maker, a move which could result in a majority of the company's board being replaced. Trading volumes in this holiday-shortened week have been below the average of the last six months and are likely to remain subdued until January 6. The next major focus for markets will be the December employment report due on January 10.Editor’s note : Chris Wright has been nominated by President-elect Donald Trump to serve as Energy secretary and this column is reprinted from March 27, 2022. The energy transition is not happening. Or not nearly at the pace that everyone believes or wishes. At rates the “transition” is set to finish in the mid-2600s. The U.N. Rio Convention and subsequent Kyoto Protocol launched the energy transition drive in 1992. Global energy consumption from hydrocarbons has grown massively since then, with market share only declining by four percentage points over the last 30 years from 87% in 1992 to 83% in 2022. I am not celebrating this fact as I have spent years working on energy transition technologies. The energy transition isn’t failing for lack of earnest effort. It is failing because energy is hard, and 3 billion people living in energy poverty are desperate for reliable and scalable energy sources. Meanwhile, 1 billion energy-rich people are resistant to diminishing their standard of living with higher cost and an increasingly unreliable energy diet. There is no “climate crisis” either. If there is a term more at odds with the exhaustive literature surveys of the Intergovernmental Panel on Climate Change than “climate crisis,” I have not heard it. Climate change is a real global challenge that is extensively studied. Unfortunately, the facts and rational dialogue about the myriad trade-offs aren’t reaching policymakers, the media or activist groups. Or are they are simply ignoring these inconvenient truths? For example, we hear endlessly about the rise in frequency and intensity of extreme weather. This narrative is highly effective at scaring people and driving political action. It is also false. The reality is detailed in countless publications and summarized in the Intergovernmental Panel on Climate Change reports. Deaths from extreme weather have plunged over the last century, reaching new all-time lows last year, an outcome to be celebrated. This is not because extreme weather has declined. In fact, extreme weather shows no meaningful trend at all. Deaths from extreme weather events have declined because highly energized, wealthier societies are much better prepared to survive nature’s wrath. You are not supposed to say out loud that there is no climate crisis or that the energy transition is proceeding at a glacial pace. These are unfashionable and, to many, offensive facts. But let’s be honest. Energy transition ambitions must recognize reality. Otherwise, poor investment decisions and regulatory frameworks will lead to surging global-energy and food prices. This is exactly what is happening. We are here today in large part because energy transition efforts that previously encompassed solely aggressive support of alternative energy policies, economics be damned, have recently supplemented this strategy with growing efforts to obstruct fossil fuel development. Fossil fuels make the modern world possible. The real crisis today is an energy crisis. It began to reveal itself last fall with a severe shortage in globally traded Liquified Natural Gas (LNG). The LNG crisis has not abated, and it gives Russia’s Vladimir Putin tremendous leverage over Europe. Without Russian gas, the lights in Europe go out. Amid war, public outrage, and intense sanctions, Russian gas flows to Europe remain unchanged. Russian oil exports have continued with minimal interruption. The world can talk tough about sanctioning Russian energy exports, but those exports are vitally needed; hence they continue. Energy security equals national security. The world energy system, critical to human well-being, requires meaningful spare capacity to handle inevitable bumps in the road. In the electricity sector, which represents only 20% of global energy but 40% in wealthy countries, this is called reserve capacity. In the oil market, spare production capacity today is shrinking and concentrated in OPEC nations like Saudi Arabia and the United Arab Emirates. Also, there is a massive global storage network in surface tanks and underground caverns. In natural gas markets, there are extensive underground storage reservoirs and typically spare export capacity through pipelines and large industrial LNG export and import facilities. The last several years have seen this spare capacity whittled away due partly to lower commodity prices and poor corporate returns shrinking the appetite to invest. Excess capacity has also shrunk due to regulatory blockage of critical energy infrastructure like pipelines and export terminals. Roadblocks for well permitting and leasing on federal lands, together with a mass public miseducation campaign on energy and climate alarmism, are also stymying hydrocarbon development. Investment capital is further constrained by a corporate Environment, Social and Governance movement, and divestment campaigns. These factors are shrinking hydrocarbon investment below what it otherwise would be in response to price signals and outlook for supply and demand. The net result is a constrained supply of oil, natural gas, and coal, which means higher prices and greater risk of market dislocations like the one unfolding today. High energy and food price inflation is the cruelest form of tax on the poor. After a few specific examples, I’ll return to what we should do now to reverse these damaging and deeply inequitable trends. Why does the world today suffer from a severe shortage of LNG? Demand for natural gas has been growing strongly for decades. It provides a much cleaner substitute for coal in electricity production, home heating, and a myriad industrial and petrochemical uses. Rising displacement of coal by natural gas has been the largest source of greenhouse gas emission reductions. Unfortunately, the aforementioned factors have prevented supply from keeping pace with rising demand. Energy shortages drive rapid prices rises and have cascading impacts on everything else. Energy is foundational to everything humans do. Everything. Perhaps the most critical use of natural gas is nitrogen fertilizer production. Roughly a century ago, two German chemists, both subsequently awarded Nobel Prizes, developed a process to produce nitrogen fertilizer on an industrial scale. Before the Haber-Bosch process innovation, nitrogen content in soil was a major constraint on crop productivity. Existing nitrogen sources from bird guano, manure, and rotating cultivation of pea crops were limited. Today, elimination of natural gas-synthesized nitrogen fertilizer would cut global food production in half. The LNG crisis translates into a worldwide food crisis as skyrocketing fertilizer prices are cascading into much higher food prices. Wheat prices are at a record high and will likely head higher as spring plantings suffer from under fertilization. Global LNG markets are tight because rising demand has outrun the growth in LNG export capacity in the United States, now the largest LNG exporter. We have an abundance of natural gas in the United States. Unfortunately, we have a shortage of pipelines to transport this gas and LNG export terminals, preventing us from relieving the energy crisis in Europe and around the world. These pipeline and export terminal shortages are due in large part to regulatory blockage. The result is that natural gas prices in the United States and Canada are five to 10 times lower than in Asia and Europe. This deeply disadvantages consumers and factories (like fertilizer factories) in Europe and Asia that rely on LNG imports to fulfill their needs. Russia’s invasion of Ukraine did not cause today’s energy crisis. Quite the reverse. Today’s energy crisis is likely an important factor in why Russia chose to invade Ukraine. Europe’s energy situation is tenuous and highly dependent on Russian imports. Russia is the second-largest oil and natural gas producer after the United States. Russia is the largest exporter of natural gas, supplying over 40% of Europe’s total demand. Additionally, Russia is the largest source of imported oil and coal to Europe. Europe put itself in this unenviable position by pursuing unrealistic, politically-driven policies attempting to rapidly transition its energy sources to combat climate change. Europe’s energy pivot has been a massive failure on all fronts: higher energy costs, grave energy insecurity, and negligible climate impacts. Germany is the poster child of this failure. In 2000, Germany set out to decarbonize its energy system, spending hundreds of billions of dollars on this effort over the last 20 years. Germany only marginally reduced its dependence on hydrocarbons from 84% in 2000 to 78% today. The United States matched this 6% decline in hydrocarbon market share from 86% in 2000 to 80% today. Unlike in the U.S., Germany more than doubled its electricity prices — before the recent massive additional price increases — by creating a second electric grid. This second grid is comprised of massive wind and solar electric generating sources that only deliver 20% of nameplate capacity on average, and often less than 5% for days at a time. The sun doesn’t always shine and the wind doesn’t always blow. Hence, Germany could only shrink legacy coal, gas and nuclear capacity by 15%. It now must pay to maintain both grids. The legacy grid must always be flexing up and down in a wildly inefficient manner to keep the lights on, hospitals functioning, homes heated, and factories powered. Outside the electricity sector, Germany’s energy system is largely unchanged. It has long had high taxes on gasoline and diesel for transportation, and lower energy taxes on industry. Germany subsidizes industrial energy prices attempting to avoid the near-complete de-industrialization that the UK has suffered due to expensive energy policies across the board. Over the last 20 years, the United States has seen two shale revolutions, first in natural gas and then in oil. The net result has been the U.S. producing greater energy than consumed in 2019 and 2020 for the first time since the 1950s. The U.S. went from the largest importer of natural gas to the second-largest exporter in less than 15 years, all with private capital and innovation. The shale revolution lowered domestic and global energy prices due to surging growth in U.S. production. Surging U.S. propane exports are reducing the cost and raising the availability of clean cooking and heating fuels for those in dire energy poverty still burning wood, dung, and agricultural waste to cook their daily meals. U.S. Greenhouse gas emissions also plunged to the lowest level on a per capita basis since 1960. Imagine the world’s energy situation today with the American shale revolution. We are starting to hamstring and squander the enormous benefits of the shale revolution. The same misinformed anti-hydrocarbon crusade that impoverished Europe and made it heavily dependent on Russia is now sweeping the US. California and New England had adopted European-style energy policies driving up electricity prices, reducing grid reliability, and driving manufacturing and other energy-intensive, blue-collar jobs out of their states. Colorado is not far behind. California, a state with a plenitude of blessings, managed to create the highest adjusted poverty rate in the nation with an expensive, unstable power grid increasingly reliant on coal-powered electricity imports from Nevada and Utah. New England’s proximity to Pennsylvania’s clean low-cost natural gas resources was a stroke of luck. But it refused to expand the natural gas pipelines running from Pennsylvania, leaving it chronically short of natural gas, its largest source of electricity and cleanest option for home heating. Instead, it remains heavily reliant on fuel oil for home heating and occasionally imports LNG from Russia to keep the lights on. Last winter New England burned copious amounts of fuel oil to produce electricity which went out of fashion in the 1970s elsewhere in the US. Texas has not been immune from energy illiteracy and collateral damage. Texas’ poorly designed electric grid, structured to encourage investment in renewables, led to hundreds dying in the 2021 Uri cold spell. No one would pay the same price for an Uber that showed up whenever convenient for the driver and dropped you off wherever they desired. But that is what Texas does with electricity: paying the same price for reliable electricity that balances the grid as they do for unreliable, unpredictable electricity. No wonder the reliability of the Texas grid has declined and is headed for more trouble. The common thread in these cases is unrealistic beliefs in how rapidly new energy systems can replace demand for hydrocarbons, currently at all-time highs. Political intervention and miscalculation have led to overinvestment in unreliable energy sources and, far worse, underinvestment in reliable energy sources and infrastructure. The full costs of this colossal mal-investment have been somewhat hidden from view as spare capacity in the global energy network has mostly kept the train on the tracks. Now that excess capacity has shrunk to a critically low level, more impacts are hitting home. Like the disease, the cure takes years to run its course. But that longer time frame is no excuse not to act now in a thoughtful fashion to begin rectifying historical blunders. Steel, cement, plastics and fertilizer are the four building blocks of the modern world and all are highly reliant on hydrocarbons. Most critically this means removing the growing myriad obstacles to hydrocarbon development, justified in the name of fighting climate change. This is nonsense. Overly cumbersome hurdles to hydrocarbon development in the U.S. do nothing to change oil and gas demand. They simply displace U.S. production overseas where production practices are less stringent and less ethical. Resulting in increased greenhouse gas emissions and other air pollutants, reduced economic opportunities for Americans, and increased geopolitical leverage of Russia and OPEC — see the invasion of Ukraine. Climate change is a long-term problem best addressed with technologies cost-effective today like natural gas, energy efficiency, and nuclear. The solution requires combining today’s commercial low-carbon energy sources with research and technology development in carbon sequestration, next-generation geothermal, and economical energy storage to make solar and wind more viable. Today the price mechanism must destroy energy demand to bring it in line with short-term supply. This reduces the quality of living, especially for low-income families. The price mechanism will also incentivize new supply to the extent possible in the face of growing regulatory hurdles, infrastructure shortages, and capital starvation. A revaluation of all three of these factors is urgently needed. Is the overarching goal “energy transition” at all costs? Or is it humane policies that better human lives and expand opportunities for all? We need to replace the former mindset with the latter. Chris Wright is chairman and CEO of Liberty Energy, a Denver-based hydraulic fracturing company.None
Sinn Fein actively pursuing route into government, insists leader McDonald
The Labour MP posted on Facebook claiming she had been "misrepresented" on the subject - after a backlash to plans to expand the ALDI on Bridgnorth Road onto The Dell Open Space. Planning officers have recommended it for approval, providing ALDI meet specific conditions, but councillors deferred the final decision pending a site visit that will take place in the new year. The MP had submitted "neutral comments" on the application, saying she worked with residents in 2021 to object to the "disposal" of The Dell Open Space and has since worked with residents, Dudley Council and ALDI to find a compromise over the public open space. However, she has faced criticism over an email sent to Dudley Council colleagues on December 11 ahead of the planning meeting on December 16 in which she said she "supported officer recommendations" after being satisfied that resident's concerns had been addressed. Cat posted a screenshot of this email on Facebook, along with a lengthy post detailing her history on fighting the initial land disposal, and her stance on ALDI's application. In her post, on December 23, she said:... Olivia Warburton
Environment Canada forecasts mix of freezing rain and rain for parts of MaritimesPresident Jimmy Carter passed away at the age of 100 at his Georgia home on Sunday. The 39th president of the United States, Carter is remembered as a staunch advocate for human rights, with an enduring commitment to philanthropy and humanitarian work. WASHINGTON - Former President Jimmy Carter died at the age of 100 on Sunday. Carter served as the 39th President of the United States and was known for his enduring commitment to philanthropy and humanitarian work. Carter served one term, from 1977 to 1981. He saw some monumental successes during his time in office, such as the brokering of the Camp David accord between Egypt and Israel but his term was also plagued by the energy crisis, inflation, high interest rates and the infamous Iran hostage crisis. But even after losing his bid for re-election, Carter continued to serve the public, championing causes such as global health, democracy and human rights. Carter received many honors throughout his life. At the 2000 Democratic Convention, delegates rose to their feet in his honor. And in 2002, he was awarded the Nobel Peace Prize. READ MORE: Jimmy Carter, 39th president of the United States, dies at 100 The late former president Jimmy Carter was awarded the Nobel Peace Prize in 2002 for his decades of work seeking peaceful solutions to international conflicts, advancing democracy and human rights, and promoting economic and social development. Here's how the former president will be honored following his passing. Presidential funerals can take years to plan out and the details are usually kept secret between close family members and the U.S. Army Military District of Washington. The arrangements are not announced until after a president dies. The plans for Carter's funeral have not been announced at this time, but shortly after the news of his passing came out, President Joe Biden said he is ordering an official state funeral to be held in Washington, D.C. "To honor a great American, I will be ordering an official state funeral to be held in Washington D.C. for James Earl Carter, Jr., 39th President of the United States, 76th Governor of Georgia, Lieutenant of the United States Navy, graduate of the United States Naval Academy, and favorite son of Plains, Georgia, who gave his full life in service to God and country," Biden said in a statement. The president, former presidents and president-elect are all entitled to a state funeral, but then family decides if they actually get one, or just how involved it will be. The family will provide details of the funeral plans to the Washington Military District, which is in charge of implementing them. At this time, the Carter Center says public observances will be held in Atlanta and Washington, D.C. as well as a burial and funeral in his hometown of White Plains, Georgia. READ MORE: 'A man of faith and a man of principles:' Historian reflects on friendship with Jimmy Carter Protocol dictates that flags will be flown at half-staff for a period of 30 days after the passing of a U.S. president. The sitting president is also in charge of issuing an executive order issued authorizing the closure of federal offices and buildings for a national day of mourning. Each president’s final resting place is among the details they include in their plans. Most have chosen locations in their home states; only two presidents are buried at Arlington National Cemetery: Kennedy and William Howard Taft. What occurs in Washington, D.C. unfolds according to guidelines that date back to the mid-1800s and have been reshaped over time. They often involve funeral processions down Pennsylvania Avenue, lying in state in the U.S. Capitol Rotunda and a memorial service, usually at the Washington National Cathedral. READ MORE: What you may not know about Jimmy and Rosalynn Carter In 2015, Carter announced shattering news about his health. He candidly spoke about his battle with liver and brain cancer. "Now I feel it’s in the hands of God, who I worship, and I’ll be prepared for anything that comes," he said. Extensive treatment followed and he was declared cancer-free in December 2015. In 2019, Carter suffered several falls, one requiring hip replacement surgery. Another led to a fractured pelvis. In November of that year, he had to undergo surgery to relieve bleeding on his brain related to the falls. But Carter remained active well into his 90s, continuing to lead Sunday School classes at Maranatha Baptist Church in Plains and to help build Habitat for Humanity houses for those in need. He had been receiving at-home hospice care for nearly two years at the time of his death. The Carter Center confirmed his death, saying he died peacefully at his home in Plains, surrounded by his family. He was the longest-lived president in U.S. history. Additional details on the life and legacy of Jimmy Carter, as well as details on his services can be found on the Carter Center Tribute website . The Carter Center, FOX 5 Atlanta reporting, LiveNow reporting
Based on the first 35 minutes, few people in the building could have predicted the final outcome. It was the second game of back-to-back contests between the Soo Greyhounds and Windsor Spitfires at the GFL Memorial Gardens. With the Greyhounds leading 2-1 and five minutes to go in the second period, the Spitfires scored four times before the period was over and ultimately picked up a 10-6 win over the Greyhounds. For the Greyhounds, it was a learning experience for their young players after getting blanked by the Spitfires on Saturday night. “Yesterday was compete, effort, decision-making (issues),” Greyhounds coach John Dean said. “Today were mistakes that (can be) corrected and have our guys learn from.” Dean also chose to reflect on some of the positives in the game. “As a team, we scrapped all 60 and find a way to get back into it, which was super impressive,” Dean said. “I talked to the guys yesterday about being a process-oriented team and how wins and losses are important, but how you win and lose is also important. Tonight, it’s tough not to be proud of the group of 20. We give ourselves a chance to come back and win a game that, for tough reasons, I thought we shouldn’t have been out of.” Dean also called the game one in which “it seemed like every mistake we made went in the back of our net.” For Spitfires coach Greg Walters, the way the Greyhounds started the game was tough on Windsor. “They came out very hungry starting the game. They definitely outworked us,” Walters said. Walters added that the Spitfires scoring a late goal in the final minute of the opening period and then proceeding to score four times in the final 4:24 of the second period “are gamebreakers.” “Our talent came through,” Walters also said of the stretch. “When (Windsor’s) third goal goes in (23 seconds later), there’s some details we missed on that and experienced teams get that puck in deep right after and go to work,” Dean said when asked if things tend to snowball for young teams when shorthanded. “I do think experienced teams get that puck in deep and go to work.” Walters credited the Greyhounds for coming back and making the game close as well in the third period after the visitors had appeared to break the game open. “Their team never quits,” Walters said. “Even when it got to 7-3, they kept coming and working and made it a game. We were fortunate to get some big goals from some of our big time guys.” Walters added that the game was partially a case of the Spitfires finding a way to win despite not necessarily playing well. “We talk about good teams finding a way to win when you’re not playing at your best and that was definitely the case tonight,” Walters said. The Greyhounds opened the scoring as Jordan Charron got the puck from Carson Andrew and beat Windsor goaltender Jake Windbiel from the right circle at 13:12 of the opening period. Windsor tied the game in the final minute of the period as Ryan Abraham beat Landon Miller from the left circle after the Sault goaltender stopped a shot from the right circle by Cole Davis initially. Travis Hayes gave the Greyhounds a 2-1 lead at 9:37 of the second period as he took a breakaway pass from Keegan Gillen and beat Windbiel glove side. Windsor tied the game again as Jean-Christophe Lemieux took a cross-ice pass from Liam Greentree and beat Miller high short side from the left circle at 15:36. On the next shift, Davis gave Windsor the lead by converting a cross-ice pass in the right circle from Noah Morneau, beating Miller glove side on the play at 15:59. Morneau then beat Miller from the slot after a pass by Jack Nesbitt was partially blocked and ended up on Morneau’s stick. The goal came with 1:30 to go in the period. In the final seconds of the middle period, Laim Greentree made it a 5-2 game as he took a pass in the left circle from Ethan Garden and beat Miller. Windsor extended the lead as Nesbitt beat Miller with a shot from the left win while much of the focus was on an altercation between Greentree and Hayes at the other end of the ice 3:05 into the third period. Jsutin Cloutier made it 6-3 just 55 seconds later as he beat Windbiel with a shot from the right faceoff circle. Windsor’s Ilya Protas continued the scoring barrage as he took a pass from A.J. Spellacy and beat Miller at 6:45 of the third to make it a 7-3 game. The Greyhounds pulled back to within three at 7:48 as a shot from the high slot by Owen Allard beat Windbiel after getting deflected by Marco Mignosa. The home team pulled to within two at 8:26 as Hunter Solomon beat Windbiel with a shot from the top of the right faceoff circle and then made it a one-goal game as Allard beat Windbiel through traffic with a shot from the high slot at 14:45. Greentree added on to the Spitfires lead at 17:40 as he took a pass from Conor Walton and beat Miller stick side to make it an 8-6 game. Windsor added a pair of late goals to cap off the scoring as Davis grabbed a Greyhounds turnover as Miller was coming out for an extra attacker and scored as the Sault netminder tried to scramble back into the goal with 2:02 to go and potted his third of the night in the final minute of action. Allard and Cloutier had a goal and an assist each for the Greyhounds in the loss while Andrew, Chase Reid, and Erik Muxlow assisted on two goals each. Miller stopped 20 shots for the Greyhounds. Davis finished the day with four points (three goals and an assist) for Windsor. Greentree had two goals and an assist for the Spitfires while Protas also had a three-point day with a goal and two assists. Nesbitt, Abraham, and Morneau had a goal and an assist each. Ethan Garden assisted on a pair of Windsor goals. Windbiel stopped 32 shots. The Greyhounds now have some time off before returning to action at home on Friday night when they host the Peterborough Petes. The Greyhounds will take a 15-20-0-0 record into that game. With the win, Windsor improves to 25-7-2-1 on the season, Rookie forward Ethan Belchetz missed Sunday’s game after receiving a major penalty for checking to the head in Saturday night’s contest. In the opening minute of the third period, Belchetz hit Greyhounds defenceman Spencer Evans along the end boards in the Sault zone. Evans was injured on the play and missed Sunday’s game. For Evans, it was his first game back after sitting out a month due to a previous injury. Dean said the blueliner is out day-to-day at this point. Brady Martin missed his third consecutive game for the Greyhounds on Sunday due to an injury and remains out. Chrstopher Brown also remains out due to injury. Initially injured on Nov. 8 in Kitchener, Brown sat out four games before returning to the lineup on Nov. 21 against Niagara. The veteran forward was reinjured and has been out since, a stretch of 12 games. Brown skated on his own prior to Sunday’s game.None
“I took a bass string, put it on the guitar, and tuned it in unison an octave lower than the A string so I'd still be able to play with all six strings.” Joe Perry reveals his unusual techniques behind writing classic Aerosmith riffsAfter his team's 102-89 home win on Wednesday night over Purdue Fort Wayne, Penn State coach Mike Rhoades challenged his team's fan base to show up and make more noise. "Sweat with us," he said at one point. At 5-0, the Nittany Lions haven't had to sweat much to get off to a fast start. They might not have to expend much perspiration to make it 6-0 on Monday when they meet Fordham in a semifinal matchup at the Sunshine Slam tournament in Daytona Beach, Fla. Penn State hasn't played a strong schedule so far, but the team has been impressive. It's averaging 98.2 points per game and 13.8 steals per game, both of which ranked second in Division I through Saturday's play. The Nittany Lions were seventh per kenpom.com in turnover rate, forcing 25.3 per 100 possessions. Point guard Ace Baldwin Jr. is leading the charge, scoring 16.4 points and dishing out 7.8 assists while chipping in 2.6 steals. Zach Hicks has nearly doubled his scoring average from 8.4 last season to 15.8 this season, while Northern Illinois transfer Yanic Konan Niederhauser has beefed up the interior, tallying 12.2 points and 7.2 rebounds. Meanwhile, Fordham (3-3) is coming off a 73-71 home loss Friday night against Drexel in New York. The Rams blew a seven-point lead early in the second half and missed a chance to force overtime when leading scorer Jackie Johnson III missed a layup as time expired. Johnson, a UNLV transfer, is averaging 19 points per game and is making nearly 48 percent of his shots as one of three Rams with double-figure scoring averages. Jahmere Tripp scores at an 11.0 clip while Japhet Medor is contributed 10.5, but Fordham is struggling to make shots, canning only 41.5 percent from the field. The Rams were picked for a 14th-place finish in the Atlantic 10 despite returning more scoring than any team in the league except for VCU. Third-year coach Keith Urgo thinks his team can defy low external expectations. "We're experienced and I think we're poised to have a tremendous year," he said. --Field Level Media
( MENAFN - The Rio Times) Argentina's financial resurgence is turning heads on Wall Street. The ARGT, Argentina's primary ETF in the US, has attracted $600 million this year. Meanwhile, Brazil's EWZ has seen outflows of $900 million. This $1.5 billion swing favors Argentina, marking a significant shift in investor sentiment. Argentina's economic reforms are bearing fruit. Inflation control, improved fiscal outlook, and growth potential have made it South America's top investment destination. In contrast, Brazil's uncertain economic landscape has deterred investors. The Brazilian stock market, B3 , is on track to lose R$25 ($4) billion in foreign investments this year. This exodus has impacted asset prices. Since January, the EWZ has dropped 35%, while the ARGT has surged 63%. Currency fluctuations play a role too. Brazil's real has weakened 21% against the dollar due to fiscal concerns. Argentina's current account balance has improved dramatically. The third quarter saw a $1.4 billion surplus, a stark contrast to last year's $6 billion deficit. The financial account, linked to foreign investments, posted a $1.15 billion surplus. (Commentary: Argentina's Financial Tango Leaves Brazil in the Dust) [arve url="" /] The country also stands out with optimistic growth forecasts. The government predicts a robust 5% economic recovery in 2025, Private consultants surveyed by the Central Bank project a more modest 4.2% growth. This positive outlook contrasts sharply with recent economic challenges. Argentina's anticipated growth stems from sustainable organic expansion, not excessive government spending. This approach differs from Brazil's economic strategy in 2024. Brazil's growth relied heavily on government stimulus, creating a short-term boost. However, this "sugar-rush" economy under Lula's administration may soon face a harsh reality check. The contrast between these two approaches highlights the potential long-term benefits of Argentina's economic reforms. Brazil's economic outlook for 2025 appears less optimistic, with growth projections falling below 2%. Some analysts suggest the expansion may be closer to 1% Argentina Outshines Brazil in Investment Arena Brazilian investors are taking notice. Lucas Sigu Souza of Ciano Investimentos has allocated 20% of his foreign investments to Argentina. Vista Capital has also bet heavily on Argentina, citing potential high returns over an extended period. President Javier Milei's tough economic policies have paved the way for dollar inflows. Fiscal austerity, spending cuts, and reduced state intervention have been key. These measures led to a 5% GDP contraction and a 289% inflation spike initially. However, the tide is turning. Monthly inflation has fallen below 3% since October, down from December 2023's 25.5% peak. Market projections show annual inflation dropping from 166% to 29.4% over the next 12 months. BTG Pactual economists forecast Argentina's inflation to hit 24% by end-2025, with GDP growing 5% that year. They expect a 20% surge in investment volume. Despite recent gains, BTG sees further upside in Argentine stocks, particularly in the banking sector. As Argentina's economic revival gains momentum, it's not just outperforming Brazil on the soccer field. The investment world is taking notice, reshaping the financial landscape of South America. MENAFN28122024007421016031ID1109038011 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.Innodata Inc. ( NASDAQ:INOD – Get Free Report ) CEO Jack Abuhoff sold 225,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the sale, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link . Innodata Trading Down 3.2 % Shares of NASDAQ:INOD opened at $44.77 on Friday. The company has a 50 day moving average of $23.23 and a 200-day moving average of $18.21. The firm has a market cap of $1.30 billion, a P/E ratio of 75.88 and a beta of 2.30. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $49.72. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Analyst Ratings Changes Several analysts recently weighed in on INOD shares. BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.67. Institutional Trading of Innodata Several hedge funds and other institutional investors have recently modified their holdings of INOD. nVerses Capital LLC purchased a new stake in shares of Innodata during the 2nd quarter worth about $27,000. Point72 Asset Management L.P. acquired a new stake in Innodata in the third quarter valued at approximately $206,000. BNP Paribas Financial Markets grew its position in Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after acquiring an additional 3,739 shares in the last quarter. Elkhorn Partners Limited Partnership bought a new position in shares of Innodata during the 1st quarter valued at $94,000. Finally, Private Advisor Group LLC lifted its stake in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors. Innodata Company Profile ( Get Free Report ) Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services. Read More Receive News & Ratings for Innodata Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innodata and related companies with MarketBeat.com's FREE daily email newsletter .
The accusation that President Bola Tinubu favours his ethnic Yoruba to dominate the Nigerian National Petroleum Corporation Limited (NNPCL’s) hierarchy and the financial sector of the nation’s economy is baseless, a former presidential aide, Mr Reno Omokri, has said. In a statement on Sunday, the former presidential aide said the accusation contradicts the facts, which show that the president has been even-handed in his choice of appointments. In an article titled “Tinubu’s Buharisation of the NNPC,” published last week, an academic, Prof Farouk Kperogi, accused President Tinubu of appointing “Yoruba people” to significant positions at the NNPC. He added that the concentration of Yoruba figures in critical economic roles, including the minister of finance and the governor of the Central Bank of Nigeria (CBN), represented “state-sanctioned ethnocentric domination of a critical segment of national life.” But a former governor of Kaduna State, Mr Nasir el-Rufai, responded to Kperogi’s claim on his X handle, admonishing, “Two wrongs do not make a right. Sensible inclusion always trumps arrogant exclusion!” However, the Chief Corporate Communications Officer of the NNPC Ltd., Olufemi Soneye, addressed concerns raised in Kperogi’s article in a weekend statement, explaining that the NNPC’s leadership structure was guided by business requirements, expertise, and merit rather than ethnicity, tribe, religion, or political affiliation. He said the NNPCL prided itself on being a professional organisation with a diverse leadership team that includes individuals from various parts of the world. On Sunday, Omokri weighed in on the matter and said el-Rufai and Kperogi were mischievously misrepresenting facts. “Let us consider the facts,” he said, adding, “Look at the breakdown of the current management of the NNPCL: Chief Pius Akinyelure: Non-Executive Board Chairman-Southwest; Mallam Mele Kolo Kyari: Group Chief Executive Officer-Northeast; Adedapo Segun: Chief Financial Officer-Southwest; Mr Ledum Mitee: Non-Executive Director-South-South; Mr Musa Tumsa: Non-Executive Director-Northeast; Mr Ghali Muhammad: Non-Executive Director-Northcentral; Prof Mustapha Aliyu: Non-Executive Director-Northwest; Mr. David Ogbodo: Non-Executive Director-Southeast; and Ms. Eunice Thomas: Non-Executive Director-South-South. He said from the record that only two company board members were from the Southwest, explaining that none of the top management of the supervisory agencies was from the president’s region. He pointed out that the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobori, and Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, were from the South-South, while the Permanent Secretary, Federal Ministry of Petroleum Resources, Mr Nicholas Agbo Ella, was -North-Central. “From the above, how can anybody honestly project to the Nigerian people that President Tinubu is Yorubacentric in his appointments at the NNPCL? It beggars belief,” Omokri said. His words, “If there is any dominance at all, then that hegemony favours the South-South, which is the most represented on the board and cabinet-level with authority over NNPCL. Then you have the Northwest, Northeast, and North-Central. “Now, even if you want to go to the ridiculous extent of scrutinising those in the lower cadre of the NNPCL, you will find that, except possibly two positions, all of those posts were filled by former President Muhammadu Buhari. “Therefore, to say that a Yoruba heads every consequential agency in finance in Nigeria is not only without basis but also capable of causing the type of market ripples that negatively affect the All-Share Index of the Nigerian Stock Exchange. “When you mention finance, you use a broad brush that includes revenue-generating agencies. And the highest revenue-generating agencies in Nigeria are not the Central Bank of Nigeria or the Ministry of Finance.”
COLUMBUS, Ohio (AP) — A fight broke out at midfield after Michigan stunned No. 2 Ohio State 13-10 on Saturday as Wolverines players attempted to plant their flag and were met by Buckeyes who confronted them. Police had to use pepper spray to break up the players, who threw punches and shoves in the melee that overshadowed the rivalry game. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.SNP in 'secret talks' over lifting freeze on their crisis-hit Ministers' salaries
2024 saw push to India’s digital growth; over 6 crore trained under PMGDISHA NEW DELHI: The year 2024 saw several key initiatives of the Ministry of Electronics and Information Technology to advance India’s digital growth, focusing on AI, cyber security, and skill development with the aim to make technology more accessible, boost innovation, and strengthen India’s position in technology on the global stage. As many as nine projects under the scheme for the promotion of manufacturing electronic components and semiconductors (SPECS) were approved by the government to generate 15,710 jobs. Also, 6.39 crore individuals were trained under Pradhan Mantri Gramin Digital Sakshatra Abhiyan (PMGDISHA) exceeding the target of six crore. The Central government approved four semiconductor manufacturing units in India under the Semicon India programme. The country has taken lead in global partnership of Artificial Intelligence (GPAI) by hosting the 6th meeting of the GPAI ministerial council here and is set to be the outgoing chair in 2025. The skill development training was undertaken for 18,209 SC/ST and EWS (women) youth across 81 aspirational districts to make them reliable for employment and entrepreneurship. With 50 plus stakeholders on board, BHASHINI bridged language barriers for accessible digital services with 100 million plus inferences per month; translation services are available in 22 scheduled Indian languages. Prime Minister Narendra Modi launched three PARAM Rudra supercomputers to strengthen research and innovation in the country with Physics, earth sciences and cosmological studies to get a boost. These supercomputers are built using indigenously designed and manufactured High Performance Computing servers, known as “Rudra,” along with a locally developed software stack. The PARAM Rudra Supercomputers will significantly enhance research capabilities for young scientists in India, facilitating advanced studies in physics, earth sciences, and cosmology. With the commissioning of the above three PARAM Rudra supercomputers, as of now, a total of 33 supercomputers with a combined compute capacity of 32 Petaflops, have been deployed across various academic institutions, research organizations, and R&D labs, including prominent institutions like IISc, IITs, C-DAC, and other institutions from Tier-II and Tier- III cities of the country under NSM. These supercomputers facilitate over 10,000 researchers, including more than 1,700 PhD scholars from over 200 academic institutions and R&D labs across the country. NSM has created opportunities for researchers from Tier-II and Tier-III cities to conduct research by providing access to state-of-the-art supercomputing facilities. Agencies
Corning Incorporated (NYSE:GLW) Shares Bought by Empowered Funds LLC‘One of my heroes.’ Politicians across GA, US offer condolences after Jimmy Carter’s death
Avior Wealth Management LLC trimmed its holdings in shares of JPMorgan BetaBuilders Japan ETF ( BATS:BBJP – Free Report ) by 11.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,190 shares of the company’s stock after selling 289 shares during the quarter. Avior Wealth Management LLC’s holdings in JPMorgan BetaBuilders Japan ETF were worth $130,000 at the end of the most recent quarter. Several other large investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. boosted its stake in JPMorgan BetaBuilders Japan ETF by 125.2% during the second quarter. Brown Brothers Harriman & Co. now owns 678 shares of the company’s stock worth $38,000 after acquiring an additional 377 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of JPMorgan BetaBuilders Japan ETF by 84.4% in the 2nd quarter. Fortitude Family Office LLC now owns 1,088 shares of the company’s stock valued at $61,000 after buying an additional 498 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of JPMorgan BetaBuilders Japan ETF in the 3rd quarter valued at about $65,000. Headlands Technologies LLC bought a new stake in JPMorgan BetaBuilders Japan ETF in the 2nd quarter valued at about $72,000. Finally, Blue Trust Inc. boosted its holdings in JPMorgan BetaBuilders Japan ETF by 147.6% in the third quarter. Blue Trust Inc. now owns 1,362 shares of the company’s stock worth $77,000 after acquiring an additional 812 shares in the last quarter. JPMorgan BetaBuilders Japan ETF Stock Performance BATS BBJP opened at $56.31 on Friday. The firm’s 50 day moving average price is $57.58 and its 200 day moving average price is $57.10. The company has a market capitalization of $11.44 billion, a P/E ratio of 13.74 and a beta of 0.77. About JPMorgan BetaBuilders Japan ETF The JPMorgan BetaBuilders Japan ETF (BBJP) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market cap-weighted index of Japanese large- and mid-cap stocks. BBJP was launched on Jun 15, 2018 and is managed by JPMorgan Chase. Read More Want to see what other hedge funds are holding BBJP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan BetaBuilders Japan ETF ( BATS:BBJP – Free Report ). Receive News & Ratings for JPMorgan BetaBuilders Japan ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan BetaBuilders Japan ETF and related companies with MarketBeat.com's FREE daily email newsletter .
