panalo 999

Trump, 78, was accused of conspiring to overturn the results of the 2020 election he lost to Joe Biden and mishandling classified documents after leaving the White House, but neither case ever came to trial. Smith, in a filing with the district judge in Washington presiding over the election case, said it should be dropped in light of the long-standing Justice Department policy of not indicting or prosecuting a sitting president. He cited the same reasoning in withdrawing his appeal of a ruling by a district judge, a Trump appointee, who dismissed the classified documents case earlier this year. Smith asked District Judge Tanya Chutkan to dismiss the election interference case "without prejudice" -- leaving open the possibility it could be revived after Trump leaves office four years from now. The special counsel paused the election interference case this month after Trump defeated Vice President Kamala Harris in the November 5 presidential election. "The Government's position on the merits of the defendant's prosecution has not changed," Smith said in the filing with Chutkan. "But the circumstances have." "It has long been the position of the Department of Justice that the United States Constitution forbids the federal indictment and subsequent criminal prosecution of a sitting President," Smith said. "As a result this prosecution must be dismissed before the defendant is inaugurated." In a separate filing, Smith said he was withdrawing his appeal of the dismissal of the classified documents case against Trump but pursuing the case against his two co-defendants, Trump valet Walt Nauta and Mar-a-Lago property manager Carlos De Oliveira. Trump, in a post on Truth Social, said the cases were "empty and lawless, and should never have been brought." "Over $100 Million Dollars of Taxpayer Dollars has been wasted in the Democrat Party's fight against their Political Opponent, ME," he said. "Nothing like this has ever happened in our Country before." Trump is accused of conspiracy to defraud the United States and conspiracy to obstruct an official proceeding -- the session of Congress called to certify Biden's win, which was violently attacked on January 6, 2021 by a mob of the then-president's supporters. Trump is also accused of seeking to disenfranchise US voters with his false claims that he won the 2020 election. The former and incoming president also faces two state cases -- in New York and Georgia. He was convicted in New York in May of 34 counts of falsifying business records to cover up a hush money payment to porn star Stormy Daniels on the eve of the 2016 election to stop her from revealing an alleged 2006 sexual encounter. Judge Juan Merchan has postponed sentencing while he considers a request from Trump's lawyers that the conviction be thrown out in light of the Supreme Court ruling in July that an ex-president has broad immunity from prosecution. In Georgia, Trump faces racketeering charges over his efforts to subvert the 2020 election results in the southern state, but that case will likely be frozen while he is in office. cl/bgsNov 22 (Reuters) - President-elect Donald Trump is expected to pick prominent investor Scott Bessent to take on the role of U.S. Treasury secretary, sources told Reuters on Friday, putting him at the helm of a cabinet position with vast influence over economic, regulatory and international affairs. One source briefed by the Trump transition team and a donor briefed on the plans told Reuters of Trump's intention to pick Bessent. The Trump transition team did not immediately respond to a request for comment. Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs. Bessent was picked from a crowded field of candidates for the coveted role. That list included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh . Investor John Paulson had also been a leading candidate, but dropped out while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department . Bessent has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal. The market's surge after Trump's election victory, he wrote, signaled investor "expectations of higher growth, lower volatility and inflation, and a revitalized economy for all Americans." Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief . Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers. As the 79th Treasury secretary, Bessent would essentially be the highest-ranking U.S. economic official, responsible for maintaining the plumbing of the world's largest economy, from collecting taxes and paying the nation's bills to managing the $28.6-trillion Treasury debt market and overseeing financial regulation, including handling and preventing market crises. The Treasury boss also runs U.S. financial sanctions policy, oversees the U.S.-led International Monetary Fund, World Bank and other international financial institutions, and manages national security screenings of foreign investments in the U.S. Bessent would face challenges, including safely managing federal deficits that are forecast to grow by nearly $8 trillion over a decade due to Trump's plans to extend expiring tax cuts next year and add generous new breaks, including ending taxes on Social Security income. Without offsetting revenues, this new debt would add to an unsustainable fiscal trajectory already forecast to balloon U.S. debt by $22 trillion through 2033. Managing debt increases this large without market indigestion will be a challenge, though Bessent has argued Trump's agenda would unleash stronger economic growth that would grow revenue and shore up market confidence , opens new tab . Bessent would also inherit the role carved out by Yellen to lead the Group of Seven wealthy democracies to provide tens of billions of dollars in economic support for Ukraine in its fight against Russia's invasion and tighten sanctions on Moscow. But given Trump's desire to end the war quickly and withdraw U.S. financial support for Ukraine, it is unclear whether he would pursue this. Another area where Bessent will likely differ from Yellen is her focus on climate change, from her mandate that development banks expand lending for clean energy to incorporating climate risks into financial regulations and managing hundreds of billions of dollars in clean energy tax credits. Trump, a climate-change skeptic, has vowed to increase production of U.S. fossil fuel energy and end the clean-energy subsidies in President Joe Biden's 2022 Inflation Reduction Act. The Treasury secretary is also the administration’s closest point of contact with the Federal Reserve. Both Yellen under Biden and Mnuchin under Trump typically met weekly with Fed Chair Jerome Powell, often over breakfast or lunch. Bessent has floated the idea of creating a “shadow” Fed chair. This would entail nominating as early as possible a presumptive Powell predecessor to the Fed Board who would then deliver their own policy guidance so that, as Bessent told Barron’s last month, "no one is really going to care what Jerome Powell has to say anymore." The next seat to open up at the Fed Board is that of Governor Adriana Kugler, whose term runs to January 2026. Bessent has since said he no longer thinks the idea of a shadow chair worth pursuing, the Wall Street Journal reported. Powell's term as Fed chair expires in May 2026, and presidents rarely wait until the Fed chief's term ends before nominating a successor. Bessent, 62, primarily lives in Charleston, South Carolina with his husband and two children. He grew up in the fishing village of Little River, South Carolina, where Bessent has said his father, a real estate investor, experienced booms and busts. Bessent worked for noted short seller Jim Chanos in the late 1980s and then joined Soros Fund Management, the famed macroeconomic investment firm of billionaire George Soros. He soon helped Soros and top deputy Stanley Druckenmiller on their most famous trade - shorting the British pound in 1992 and earning the firm more than $1 billion. In 2015, Bessent raised $4.5 billion, including $2 billion from Soros, to launch Key Square Group, a hedge fund firm that bets on macroeconomic trends. Key Square's main fund gained about 31% in 2022, according to media reports, but firm assets have declined to approximately $577 million as of December 2023, according to a regulatory filing. Sign up here. Reporting by Steve Holland, Alexandra Ulmer, David Lawder, Lawrence Delevingne, Ann Saphir, Costas Pitas, Nathan Layne and Jasper Ward; editing by Megan Davies and Rod Nickel Our Standards: The Thomson Reuters Trust Principles. , opens new tab Thomson Reuters Alexandra covers the 2024 U.S. presidential race, with a focus on Republicans, donors and AI. Previously, she spent four years in Venezuela reporting on the humanitarian crisis and investigating corruption. She has also worked in India, Chile and Argentina. Alexandra was Reuters' Reporter of the Year and has won an Overseas Press Club award.

George Leyva Launches Domin8 Commerce: The Future of E-Commerce AggregationProsecutor moves to drop federal cases against TrumpAP Business SummaryBrief at 10:03 a.m. ESTGlobal Monitor Says Famine Is Weeks Away in North Gaza. A US Diplomat Calls Warning ‘Irresponsible’

Exchanging currency is vital to international travel, whether you’re visiting for leisure or business. Understanding the nuances of currency exchange can help you avoid costly mistakes and make the most of your travel budget. Before you exchange money, you should know how to choose the right place to exchange your money, time your transactions for the best rates and estimate the money exchange fee. Currency exchange involves converting one country’s money into another’s. Because currencies have different values from country to country, exchange rates fluctuate based on factors like political stability, economic performance and global market conditions. Without proper knowledge of currency exchange, travelers risk losing money on unfavorable exchange rates, excessive fees and even fraudulent practices. It’s important to know how currency exchange works and where to do money exchanges so you can get the best deal. Exchanging money abroad often comes with various fees, so it’s important to understand what you might encounter. Some exchange providers charge a flat fee per transaction. These can make smaller exchanges expensive relative to the amount you’re converting. Always ask about any flat fees in advance, and consider exchanging larger sums to minimize the impact of this fee. Many currency exchange providers charge a percentage-based fee on the total amount exchanged. This fee structure can become costly if you’re exchanging large amounts of money, so compare percentage-based fees before making any decisions. If you’re withdrawing money from an ATM abroad, your home bank and the foreign bank may charge withdrawal fees. Some banks refund these fees, while others may partner with international banks to provide fee-free withdrawals. Before traveling, check with your bank to understand what ATM fees you might face and whether they offer any reimbursement options. Foreign transaction fees are often charged when using credit or debit cards abroad. Depending on the card issuer and payment network, these fees can range from 1% to 3% of the transaction amount. Many travel-focused credit cards offer no foreign transaction fees, which can help you save money when making purchases abroad. Check your card’s terms and conditions before you travel to avoid surprises. If your card charges foreign transaction fees, consider limiting its use and opting for other methods, like cash or prepaid travel cards. Not all currency exchange options are equal, especially for travelers. Some places offer better rates and lower money exchange fees, while others provide more convenience. Here’s a breakdown of the most common currency exchange options. Banks and credit unions are generally the best money exchange options, offering competitive exchange rates and transparent fees. Many banks provide foreign currency services for their account holders, and some even offer currency at a better rate when you order it in advance. If you have a major bank account, the bank may offer international ATM withdrawals with little to no fees. Banks tend to have the most secure exchange process, so you can avoid the high fees and markups that are common at airport exchange booths. Currency exchange kiosks, often found at airports and tourist destinations, are convenient but have significant drawbacks. They frequently offer lower exchange rates and higher fees, taking advantage of travelers who need quick cash. If you need to use a currency exchange bureau, only exchange a small amount to cover immediate needs and seek out better rates at a local bank or through an ATM once you reach your destination. Always check the exchange rate and fees before completing any transaction at these kiosks to avoid unnecessary charges. Using ATMs to withdraw local currency in your destination country is one of the most convenient ways to get cash while traveling. Many banks are part of global ATM networks, allowing you to withdraw money with minimal fees if you use ATMs associated with their partner banks. However, it’s important to check with your bank ahead of time to understand what fees may apply to international withdrawals. When using ATMs abroad, stick to machines from reputable banks and avoid independent ATMs found in tourist-heavy areas or small shops. These often have higher fees and less favorable exchange rates. It’s also a good idea to notify your bank of your travel plans to avoid having your card frozen for suspicious activity. Prepaid travel cards offer an excellent solution for travelers who want to manage currency exchange with ease. These cards allow you to load multiple currencies before you travel and lock in exchange rates to avoid rate fluctuations while abroad. Prepaid travel cards can be used like regular debit or credit cards but with the added benefit of lower foreign transaction fees. They also help limit spending, as you can only use the funds preloaded onto the card. However, be aware of hidden fees such as inactivity, ATM withdrawal or reloading fees. When exchanging currency for travel, it’s easy to fall into traps that result in unnecessary expenses. Here are some common mistakes travelers make and how to avoid them. While airports and hotels may be convenient places to exchange money, they often have the worst exchange rates and highest fees. Airport kiosks, in particular, are notorious for inflating rates, sometimes marking them up by as much as 10% compared to what you’d find at a local bank or ATM. To avoid these high costs, exchange a small amount of money before your trip to cover immediate expenses like transportation. Once you arrive at your destination, use ATMs or banks for more favorable rates. Dynamic currency conversion (DCC) allows you to pay in your home currency when using a credit or debit card abroad. While this may seem convenient, it usually comes with a much worse exchange rate and additional hidden fees. Whenever possible, always opt to pay in the local currency of your destination to avoid unfavorable rates. DCC also gives merchants more control over the exchange rate, meaning they could use a rate that benefits them more than you. When paying with a card abroad, always make sure you’re being charged in the local currency to get the most accurate rate. Exchange rates fluctuate daily based on global market conditions. If you know you’ll need to exchange a large sum of money, it pays to keep an eye on exchange rates before your trip. Use tools to track exchange rates and exchange your money when the rate is in your favor. For travelers planning ahead, some banks and online services allow you to lock in exchange rates before traveling, helping you avoid losses due to unfavorable fluctuations during your trip. When traveling abroad, currency exchange fees can quickly eat into your budget. You can use certain strategies to help you save, avoid common fees and make the most of your money while exploring new destinations. Before heading overseas, research your destination’s currency and exchange rate options. Many banks allow you to order foreign currency ahead of time, saving you from the poor exchange rates and high fees at airports or in tourist-heavy areas. If your bank offers international ATM withdrawal with low fees, consider using this option to access local currency while traveling. Financial institutions sometimes offer special travel accounts or debit cards with reduced fees for foreign transactions. Check with your bank to see if they offer international-friendly options that can help you save money while abroad. Credit cards that offer no foreign transaction fees can be a great asset when traveling internationally. These cards often offer competitive exchange rates, and some even provide travel rewards or cash back on purchases made abroad. Using a credit card for most of your international purchases can help protect you from currency exchange fees and fraud. When traveling, try to avoid exchanging currency at locations that charge high fees, like airports, hotels or currency exchange kiosks. These places often inflate exchange rates and charge large commissions, reducing the value of your money. Instead, stick to local banks or ATMs for better rates and lower fees. If you have to exchange currency at one of these places, try to exchange only what you need immediately and find a better location later. Currency exchange is an essential part of international travel, and getting it right can save you a lot of money. By planning ahead, avoiding high-fee locations and choosing the right method for exchanging money, you can stretch your travel budget further and minimize unnecessary costs. When traveling internationally, avoid airport kiosks and hotel exchange desks, opt for ATMs and reputable banks and consider using prepaid travel cards or credit cards with no foreign transaction fees to simplify your currency management. With a little preparation, you’ll be able to get the most out of your money while exploring the world. (Visit Bankrate online at bankrate.com.). ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.

NoneBy PETER SMITH A social-media tribute to Coptic Christians. A billboard in Amish country. A visit to a revered Jewish gravesite. While Donald Trump’s lock on the white evangelical vote is legendary, he and his campaign allies also wooed smaller religious groups, far from the mainstream. As it turned out, Trump won by decisive margins, but his campaign aggressively courted niche communities with the understanding that every vote could be critical, particularly in swing states. Voter surveys such as exit polls, which canvass broad swaths of the electorate, aren’t able to gauge the impact of such microtargeting, but some backers say the effort was worth it. Just one week before the election, Trump directed a post on the social-media platform X to Coptic Christians in the United States —- whose church has ancient roots in Egypt. He saluted their “Steadfast Faith in God, Perseverance through Centuries of Persecution and Love for this Great Country.” “This was the first time seeing a major U.S. presidential candidate address the community in this manner,” said Mariam Wahba, a Coptic Christian and research analyst with the Foundation for Defense of Democracies, a Washington-based research institute. “It was really a profound moment.” She said many Copts share the conservative social views of other Christian groups in the Republican constituency, and they may already have been Trump supporters. But the posting reinforced those bonds. Coptic bishops sent the president-elect congratulations after his victory and cited their “shared social and family values.” Some Assyrian Christians — another faith group with Middle Eastern roots — similarly bonded with Trump, whose mispronunciation of “Assyrian” at a rally created a viral video moment and drew attention to their support. Sam Darmo, a Phoenix real estate agent and co-founder of Assyrians for Trump, said many community members cited the economy, illegal immigration and other prominent voter issues. They echoed other conservative Christians’ concerns, he said, on issues such as abortion, gender identity and religious expression in public. But he said Trump supported various Middle Eastern Christians recovering from the Islamic State group’s oppressive rule. Darmo also credited Massad Boulos, father-in-law to Trump’s daughter Tiffany, for mobilizing various Middle Eastern Christian groups, including Chaldean Catholics, and other voters, particularly in Michigan, such as Muslims. “He brought all these minority groups together,” he said. “We’re hoping to continue that relationship.” But members of Middle Eastern-rooted Christian groups, and their politics, are far from monolithic, said Marcus Zacharia, founder of Progressive Copts, a program of Informed Immigrants, an organization that promotes dialogue on sensitive topics among such groups in the United States and Canada. He said many younger community members question Trump’s stances on issues such as immigration, and sense that conservatives sometimes tokenize them by focusing on the plight of persecuted Christians in the Middle East while neglecting wider issues of repression in countries there that the U.S. supports. He said there needs to be more informed dialogue across the political divide in these communities. “There is no more high time than these next four years to have that way of conducting conversations,” he said. Republicans also made an aggressive push for Amish voters , particularly in the swing state of Pennsylvania, where they are most numerous at about 92,000 (many below voting age). The GOP has made similar efforts in the past, even though researchers have found that less than 10% of them typically vote, due to their separatism from society. But Republicans used billboards, mailers, ads and door-to-door campaigner to drive turnout in Lancaster County, home base to the nation’s largest Amish settlement. On Election Day, Amish voters Samuel Stoltzfus and his wife Lillian Stoltzfus said they were supporting Trump, citing their anti-abortion beliefs. “We basically look at it as murder,” Stoltzfus, 31, said outside a polling center in the Lancaster County community of New Holland, where dozens of other members of the local Amish community voted. Trump has wavered on the issue, dismaying some abortion opponents, though many have said Republicans still align more closely to their views. Stolzfus added: “Make America great again and keep the moral values,” he said. “Let’s go back to the roots.” Steven Nolt, a history professor at Elizabethtown College in Lancaster College who studies the Amish and their voting patterns, said that while it’s too early to say definitively without further research, he doesn’t see evidence of a larger turnout this year. Lancaster County as a whole — most of which is not Amish — is a GOP stronghold that Trump won handily, though both parties’ votes edged up from 2020, according to unofficial results posted by the Pennsylvania Department of State. Trump’s biggest increases were in urban or suburban areas with few Amish, while some areas with larger Amish populations generally saw a modest increase in the Trump vote, said Nolt, director of the college’s Young Center for Anabaptist and Pietist Studies. “Bottom line, percentage-wise, not much change in the parts of Lancaster County where the Amish live,” he said. Trump directly reached out to members of the Chabad Lubavitch movement, a prominent and highly observant branch of Orthodox Judaism. Related Articles National Politics | Trump gave Interior nominee one directive for a half-billion acres of US land: ‘Drill.’ National Politics | Trump’s team is delaying transition agreements. What does it mean for security checks and governing? National Politics | Judge delays Trump hush money sentencing in order to decide where case should go now National Politics | Republicans scramble to fill JD Vance’s Ohio Senate seat National Politics | Gaetz’s withdrawal highlights how incoming presidents often lose Cabinet nominees On Oct. 7, the anniversary of the Hamas attack on Israel that triggered the Gaza war, Trump made a symbolically resonant visit to the “Ohel,” the burial site of the movement’s revered late leader, Rabbi Menachem M. Schneerson. Wearing a yarmulke, the traditional Jewish skullcap, Trump, who has Jewish family members, brought a written prayer to the Ohel and laid a small stone at the grave in keeping with tradition. The site in New York City, while particularly central to Chabad adherents, draws an array of Jewish and other visitors, including politicians. About two-thirds of Jewish voters overall supported Trump’s opponent, Democrat Kamala Harris, according to AP VoteCast, a survey of more than 120,000 voters. But the Trump campaign has made a particular outreach to Orthodox Jews, citing issues including his policies toward Israel in his first administration. Rabbi Yitzchok Minkowitz of Chabad Lubavitch of Southwest Florida said it was moving for him to see images of Trump’s visit. “The mere fact that he made a huge effort, obviously it was important to him,” he said. Associated Press journalist Luis Henao contributed.

Gurugram, Nov 22 (IANS): To improve traffic management and road safety here in the city the Gurugram Traffic Police in collaboration with Hyundai Motor India Foundation (HMIF) inaugurated Gurugram’s first Traffic Engineering Centre and Organisation Development Centre, at the DCP (traffic) office in Gurugram on Friday. The Centre is equipped with cutting-edge technology that can monitor 1,100 cameras from a single location, ensuring streamlined management for swift action and better response time. Traffic Police officers will receive dedicated training to enhance their skills and knowledge of traffic and accident management. A significant step towards enhancing road safety in the city, the Traffic Engineering Centre monitors 218 junctions, helping manage traffic better, analysing accidents and their causes, detecting faults, and sharing recommendations for improvement. Additionally, the Organization Development Centre will act as a training ground for Traffic Police personnel, where they will be trained for better and more effective traffic management across the city. Speaking on this occasion, Shatrujeet Kapur, Director General of Police (DGP), Haryana, said: "This centre will prove to be effective in improving traffic management in Gurugram. This will reduce road accidents and reduce deaths in road accidents. During this, he said that the Institute of Road Traffic Education (IRTE) is a leading institution for road engineering and traffic engineering for road safety." “With the help of these centres, Haryana Police will bring positive results in road engineering, traffic engineering and traffic management in Gurugram through cooperation. Both the centres established today will play an important role in traffic management by organising the traffic, and road accidents will decrease," he added.American Airlines temporarily grounded U.S. flights because of technical glitch

HDFC Life faces data breach; read company's BSE filing informing customer data hacking

New Delhi: The Delhi High Court has issued a notice to India Post on a plea seeking the introduction of QR-based or digital payment facilities across all postal offices to prevent over-charging due to cash-based transactions. A bench of Justice Sanjeev Narula was hearing a public interest litigation (PIL) raising concerns about arbitrary tariff rounding, lack of digital payment options, and outdated infrastructure in postal services. The petition cited specific examples to illustrate the systemic issues. In one instance, a customer was charged Rs 18 for a postal tariff of Rs 17.70 due to the unavailability of exact change, resulting in an overcharge of 30 paise. While this amount may seem negligible, when multiplied across crores of transactions nationwide, it translates into significant financial losses, contended advocate Ujjawal Gaur, the petitioner-in-person. Conversely, in another example, a customer was charged Rs 41 for a tariff of Rs 41.30, leading to a waiver of 30 paise, which directly impacts the Consolidated Fund of India and highlights the inefficiencies in India Post’s cash-handling practices, added Gaur. “This reliance on cash transactions leads to inefficiencies, delays, and situations where customers, unable to provide exact change, often forfeit the leftover balance, further compounding financial losses,” contended the petition. Further, it said that the lack of digital payment facilities violates Article 14 of the Constitution as it discriminates against people who are solely reliant on cashless transactions. Agreeing to examine the issue raised in the PIL, Justice Narula-led Bench issued a notice to India Post, the Union government and other respondents and sought their responses within four weeks. “Issue notice to Respondents, by all permissible modes, upon filing of process fee, returnable on the next date of hearing. On service, such Respondents shall file a counter affidavit within a period of four weeks from the date of service,” it ordered. The matter will be heard next on April 25, 2025.

GREENWICH, Conn.--(BUSINESS WIRE)--Dec 6, 2024-- W. R. Berkley Corporation (NYSE: WRB) announced today that its Board of Directors declared a special cash dividend on its common stock of 50 cents per share to be paid on December 27, 2024 to stockholders of record at the close of business on December 16, 2024. The special dividend announced today is the third in 2024. In addition, the Board of Directors has declared a regular quarterly cash dividend on its common stock of 8 cents per share to be paid on December 27, 2024 to stockholders of record at the close of business on December 16, 2024. Including the dividends announced today, the special and regular quarterly cash dividends paid year-to-date, and shares repurchased through September 30, 2024, total capital returned to shareholders during 2024 is approximately $768.2 million. Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess. For further information about W. R. Berkley Corporation, please visit www.berkley.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241206307124/en/ CONTACT: Karen A. Horvath Vice President – External Financial Communications 203-629-3000 KEYWORD: CONNECTICUT UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE FINANCE SOURCE: W. R. Berkley Corporation Copyright Business Wire 2024. PUB: 12/06/2024 04:15 PM/DISC: 12/06/2024 04:15 PM http://www.businesswire.com/news/home/20241206307124/enJeannette Neumann | (TNS) Bloomberg News The Nordstrom family is joining forces with a Mexican retailer to take its namesake department store private in an all-cash transaction valued at about $6.25 billion, including debt. Related Articles Business | New shoplifting data explains why they’re locking up the toothpaste Business | Nicotine pouches are selling fast — and falling into minors’ hands Business | Elon Musk’s preschool is the next step in his anti-woke education dreams Business | A busy 2024 set up big challenges for Disneyland in 2025 Business | Netflix is airing 2 NFL games on Christmas Day. Here’s what to know The founding family is betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market after shares in Nordstrom Inc. plunged 40% in the last five years. During the same period, the S&P 500 rose 84%. As part of the transaction, which is expected to close in the first half of 2025, the family and Mexican department-store chain El Puerto de Liverpool SAB will acquire all of the outstanding common shares of Nordstrom. The Nordstrom family will have a majority ownership stake in the company of 50.1%, with Liverpool owning 49.9%. Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold under the terms of the agreement, the company said Monday. That’s roughly in line with where shares were trading on Monday. Shares in Nordstrom fell as much as 1.3% on Monday in New York. The company’s stock was up 33% so far this year as of Friday’s close as reports of a take-private deal boosted the stock price. The board’s acceptance of the offer underscores Nordstrom’s decline from its peak and its subdued growth prospects. In 2018, the board rejected the family’s bid to take the company private at $50 per share as too low. Nordstrom’s annual revenue, including income from credit cards, peaked at $15.9 billion in the fiscal year ended February 2019. The company was hit hard by Covid-19 and has never returned to its pre-pandemic highs. Nordstrom is expected to report $14.9 billion in total revenue at the end of the current fiscal year, according to a Bloomberg survey of analysts. Other department-store chains in the U.S. have also struggled as shoppers pivot to online competitors such as Amazon.com Inc., or brand-specific stores such as Louis Vuitton. Executives at Macy’s Inc., for example, are shrinking the company’s store fleet to cut costs, while the owners of Saks Fifth Avenue bought Neiman Marcus Group earlier this year. During the past couple of years, investors had hoped that Nordstrom Rack, its off-price chain, could help buoy the company’s growth prospects and compensate for sluggish sales at the more upscale flagship chain. Shoppers flocked to competitors such as TJ Maxx, seeking deals as inflation soared post-pandemic. But Rack’s performance has been spotty. It stumbled when executives tweaked their strategy and stopped offering as many high-end fashion brands at a discount. Rack reversed course and sales have bounced back. Company executives have focused on opening more Rack stores in recent quarters, boosting revenue. In November, Nordstrom raised the lower end of its annual sales guidance after revenue was better than expected at Rack and the flagship chain. But the outlook is still weak, highlighting the attraction of going private: The company is forecasting that annual sales, including credit-card revenues, will be flat to up 1% versus last year. The take-private deal will be financed through a combination of rollover equity by the Nordstrom family and Liverpool, cash commitments by Liverpool, up to $450 million in borrowings under a new $1.2 billion ABL bank financing, and company cash on hand. The board also intends to pay a special dividend of up to 25 cents a share in cash contingent on the deal closing. The transaction must be approved by holders of two-thirds of the company’s common stock shareholders and the holders of a majority of the shares not owned by the Nordstrom family or Liverpool. Erik and Peter Nordstrom, who are members of the company’s board, recused themselves from the vote, which unanimously approved the transaction. “On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future,” said Erik Nordstrom, chief executive officer of Nordstrom. Liverpool, run by descendants of a French shareholder group that dates back more than a century, is one of Mexico’s most important department store chains, with an ornate flagship location in the capital’s historic center. The $7 billion publicly-traded company has ventured beyond Mexico in recent years, acquiring a stake in Latin American retail operator Unicomer in 2011 and attempting unsuccessfully to acquire control of Chile’s Ripley SA in 2015 before turning its eyes to the U.S. with the Nordstrom investment. Max David Michel, part of Liverpool’s founding family and one of the richest people in the country, retired as head of Liverpool’s board earlier this year. (Updates to include what stock is trading at versus the offer price.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

HARRISBURG — Pennsylvania’s 2023-24 Legislative Session closed Dec. 1 and the next session, while officially underway, doesn’t fully begin until lawmakers are sworn into office Jan. 7. Looking back, members of the state House and Senate introduced 3,862 bills and 924 resolutions across the two-year session. There were 77 bills adopted into law in 2023 and 162 adopted in 2024. The combined total of 239 was far fewer than the previous six legislative sessions. There hasn’t been a lower total since 2009-10 when 226 bills advanced into law — the last time the Pennsylvania General Assembly had a partisan divide. Democrats controlled the House while Republicans led the Senate. Gov. Josh Shapiro, a Democrat, often cites the challenge of advancing legislation with a split government. That dynamic won’t change in 2025-26. Though there are 20 new members joining the legislature — 16 in the House, four in the Senate — the respective parties defended their majorities. Republicans have a 28-22 advantage in the Senate while Democrats maintained a 102-101 margin in the House. What follows is a look back at the outcome of legislation proposed last session by area lawmakers. Aaron Bernstine — 8th Legislative District Rep. Aaron Bernstine will formally begin his fifth term in the Pennsylvania House of Representatives when members are sworn into office on Jan. 7, 2025. He ran unopposed in both the primary and general elections. Bernstine, a Republican, represented Pennsylvania’s 8th Legislative District — parts of Lawrence and Butler counties — since redistricting took hold in 2023. Prior to that, he represented what had been the former 10th District. He held three committee assignments along with a subcommittee appointment during the 2023-24 Legislative Session: Commerce, Finance and Gaming Oversight committees and a subcommittee on Housing Finance. Across the two-year session, Bernstine sponsored 154 bills and resolutions. He was the prime sponsor of two bills. One sought to allow state licensure for nurses educated at a school with national accreditation in addition to the current requirement that institutions hold regional accreditation. The other was a reintroduction of a bill from a prior session, “Markie’s Law,” that seeks to delay parole for state inmates convicted of certain offenses while incarcerated — 12 months for escape attempts, smuggling contraband or retaliation or intimidation of a witness; 24 months for a violent offense. Neither bill gained traction at the committee level. Bernstine is among the members of the conservative Pennsylvania Freedom Caucus. One bill that he announced but ultimately didn’t introduce would have sought to reclassify drag performances as “adult-oriented business” — a bill unlikely to advance given the current dynamics of the General Assembly. He voted against both budgets in the 2023-24 session, criticizing Gov. Josh Shapiro for submitting a “liberal wish list.” “His plan is a copy-paste version of the Bidenomics that are destroying our economy. From Philadelphia mass transit bailouts to doubling the minimum wage, Gov. Shapiro wants Pennsylvania to be just like California, which is where his campaign donations originate,” Bernstine said after the governor made his 2024 budget proposal. Bernstine attempted to trim more than 1% from this year’s $47.6 billion budget through a floor amendment, and he tried the same to enact school choice. He attended President-elect Donald Trump’s rally in Butler where an assassination attempt was made, and he stood up for local police and first responders amid criticism of event security and the immediate response after a bullet grazed Trump’s ear. Marla Brown — 9th Legislative District The 2025-26 session will be the second in the Pennsylvania House for Republican Rep. Marla Brown. She was re-elected to represent the 9th Legislative District, which covers a portion of Lawrence County, after running unopposed in both the primary and general elections. Brown’s first session saw appointments to four committees — Aging & Older Adult Services, Commerce, Finance and Health. She also chaired subcommittees on Care & Services and Local Business. She sponsored 83 bills and resolutions. On 14 bills and three resolutions, she was the primary sponsor, however, none made it into law. In fact, as a member of the House’s political minority, just one received committee consideration. Brown introduced one of at least three proposals to open primary elections to all voters, allowing those not registered with a recognized party, namely Democrat or Republican, to choose which ticket they’d vote on. Pennsylvania is one of nine states with closed primaries and is home to more than 1.46 million independent voters, nearly 16% of its entire electorate. Brown believed the change would help elevate moderate candidates across the political spectrum and improve governance in an era of hyper-partisanship. Open primary proposals aren’t novel but in a rarity, they actually garnered enough support to advance out of the House State Government Committee but were ignored before receiving consideration on the chamber floor. “This is a bipartisan issue, in my opinion, on which we should easily meet in the middle of the road. We’ve got to find common ground in the House if we’re going to be able to represent this state in the best way,” Brown said after introducing her bill. Brown’s other bill proposals ranged from mandating that social media companies report suspected drug sales to the creation of a targeted grant program for nurses to repay student loans amid workforce struggles. Brown sought to require felony charges for threats made against schools and mandate a prison sentence for the conviction of delivering fentanyl. She also pursued operator-friendly reforms within Pennsylvania’s cosmetology law. Brown voted against both budgets enacted during her tenure, so far, and she opposed cost of living adjustments for former state employees who retired before 2001. She hosted policy hearings in her district on drug addiction and transportation issues, supported a package of bills to provide tax relief to working families, and joined other legislators in calling on the Pennsylvania Interscholastic Athletic Association to revise its maligned broadcast policy. She did not, however, vote in favor of a study authorized by the House to look into PIAA’s finances, broadcast agreements and more. Michele Brooks — 50th Senatorial District The start of the 2025-26 Legislative Session marks the midway point of Republican Sen. Michele Brooks’ third term in office. Her district, the 50th, includes Crawford, Mercer and most of Lawrence counties. Her current four-year term expires in 2026. In 2023-24, Brooks served as majority chair of the Senate Health & Human Services Committee and vice chair of the Finance Committee. Her other committee assignments were Agriculture and Rural Affairs, Communications & Technology, Education, Rules & Executive Nominations and Veterans Affairs & Emergency Preparedness. She sponsored 248 bills and resolutions last session including 60 bills and eight resolutions as a prime sponsor. The focus of the bills she introduced included eliminating inheritance taxes on siblings and other relatives, enacting consumer protections, the creation of a lost dog registry, extending the statute of limitations for the crime of drug delivery resulting in death, including sales taxes in advertised retail prices, addressing Lyme disease and expansive efforts to serve firefighters and EMS providers. Among the bevy of bills of which she was a prime sponsor, six became law and four others advanced to the House. The rest remained in the Senate. Motorcycles will be included in Pennsylvania’s Automobile Lemon Law after a Brooks bill became Act No. 151 of 2024, extending protections for manufacturer defects to a new class of vehicle. Senate Bill 500 , a bipartisan bill known as Owen’s Law, became Act 32 of 2023. It allows for medical prescriptions through Medicaid of donor milk for children younger than 12 months. Brooks was successful in expanding Pennsylvania’s Safe Haven Law. Act 134 of 2024 adds urgent care centers to designated locations where parents may safely surrender newborns if they feel unfit to care for the child. She also secured an amendment to Pennsylvania’s Public School Code through Act 55 of 2024 which will allow professionals in skilled occupations to more easily receive state certification to teach at career and technical schools. Her bill was amended as part of budget negotiations to include numerous negotiated updates to the code beyond her original intent. Act 66 of 2023, born out of Brooks’ Senate Bill 941, eases eligibility and qualifications to become a drug treatment counselor and increases counselors’ patient caseload capacity during an opioid epidemic, defined as 1,000-plus opioid overdose deaths in three consecutive years. Pennsylvania schools must notify parents and guardians in writing whenever ticks are removed from students under Act 120 of 2024. Schools must provide information on the symptoms of Lyme disease, and must preserve the tick for parents or guardians to either send into a state lab for analysis or allow the school to do so. Results are confidential. Elder Vogel — 47th Senatorial District Republican Sen. Elder Vogel returns to the Pennsylvania Senate for the 2025-26 Legislative Session after being re-elected to represent the 47th Senatorial District. Vogel defeated Democrat Kate Lennen in the general election, garnering nearly 64% of the vote and earning a fifth four-year term. He ran unopposed in the primary. The 47th Senatorial District consists of most of Beaver County and parts of Lawrence and Butler counties. In the 2023-24 session, Vogel served as majority chair of the Senate Agriculture & Rural Affairs Committee and vice chair of the Appropriations Committee. He also was appointed to the Banking & Insurance, Environmental Resources & Energy and Transportation committees. He sponsored 286 bills and resolutions last session, including nine bills as a prime sponsor. Three of the bills became law while the other six didn’t pass out of the Senate. Vogel worked for eight years to advance a bill guaranteeing insurance coverage for telemedicine services. After watching his proposals defeated through the years — be it through inaction, lack of House support, a veto by former Gov. Tom Wolf — Vogel’s Telemedicine Act was adopted in 2024 and signed into law by Gov. Josh Shapiro. Act 42 of 2024 assures patients that any medically necessary service they’d receive in person that’s covered by their insurance plan would also be covered if administered remotely through telemedicine. That coverage includes Medicaid and CHIP, the Children’s Health Insurance Program. His proposal to establish the Sexual Assault Emergency Services Act became Act 59 of 2023. It expands Sexual Assault Nurse Examiner programs at hospitals, using telehealth through the existing Penn State University SAFE-T Program to connect victims with specialized nurses to ensure through and timely care in cases of sexual assault. Another bill from Vogel became Act 18 of 2023, authorizing the first increases in dog license fees in nearly 30 years and for kennel fees, 60 years. The modest increases are intended to help improve dog law enforcement in the commonwealth. Vogel was a prime co-sponsor of two bipartisan proposals with Sen. Judith Schwank, D-Berks, that were developed to aid dairy farmers. One bill sought to help Pennsylvania dairy farmers enroll in the federal dairy margin coverage program while the other would allow the Pennsylvania Milk Marketing Board to collect and distribute over-order premiums collected on Class I fluid milk in Pennsylvania. Each bill was voted out of committee but gained no further momentum. He co-sponsored another bill with Sen. Wayne Langerholc, R-Cambria/Clearfield/Centre, that would mandate a prison term of 20 to 40 years for anyone convicted of providing fentanyl or related synthetic opioids to minors. The measure received no consideration in the Senate. Vogel’s other proposals last session sought to create a statewide stroke registry, boost funding for the Pennsylvania Housing and Rehabilitation Enhancement Fund that aids senior citizens, low- and moderate-income families and persons with disabilities, and create licensing for professional music therapists. He also was active in promoting on-farm conservation efforts, raising awareness of food insecurity and promoting food drives as well as advocating for legislation to mitigate crop damage by deer, enhance trespass penalties related to hunting and add a seat to the Pennsylvania Game Commission Board.A family of killer whales has made a rare trip into waters off downtown Vancouver for what an expert says was likely a “grocery shopping” hunt for harbour seals. Video shared on social media by False Creek Ferries shows the whales cruising past highrise towers at the entrance to False Creek on Sunday. Andrew Trites, director of the University of British Columbia’s marine mammal research unit, has identified the whales as a family group of transient orcas consisting of a mother and her three offspring. He says it’s the first time the 26-year-old mother, known as T35A, has shown up in downtown Vancouver with her children aged six, 11 and 14. Trites says the well documented family has previously been seen by marine researchers from Alaska to the Strait of Juan de Fuca south of Vancouver Island. He attributes the pod’s surprising downtown appearance to seals also changing their habits as they hide from orcas, forcing killer whales to hunt in backwater areas like False Creek. Trites says the video shows the whales moving quietly like “ghosts” to avoid alerting their prey. Killer whales have previously been spotted in False Creek, including in 2019, and in 2010 a grey whale swam all the way to the end of the inlet, near Science World. This report by The Canadian Press was first published Nov. 25, 2024.Warren Buffett Donates Over $1 Billion in Stock, Sets Plans for Posthumous Giving