Alpheus Medical Announces Positive Phase 1/2 Trial Results for the Treatment of Recurrent High-Grade GliomasStocks likely to move up as inflation eases KARACHI: Stocks reached the historical milestone of 100,000 points during the outgoing week, and the market is expected to keep the upward momentum amid expectations for a further decline in inflation. “We anticipate the market will sustain its positive momentum in the coming week, driven by expectations of a further decline in inflation. We project November inflation to decline to 4.7 per cent YoY,” said brokerage Arif Habib Ltd. “Furthermore, certain scrips are trading at attractive valuations, which are likely to continue enticing investor interest.” The week commenced on a negative trajectory as heightened political unrest led the market to decline by around 3,500 points. However, with the easing of political uncertainty, the market swiftly recovered the following day and ultimately surpassed the 100,000 points level. Key drivers of this recovery included expectations of further easing in inflation and a strong rally in commercial banks following the removal of minimum deposit rate (MDR). The market concluded the week at 101,357 points, marking a gain of 3,559 points (3.64 per cent week-on-week). Average volumes arrived at 979 million shares (down 1.2 per cent WoW), while the average value traded settled at $133 million (up 7.1 per cent WoW). Foreigner selling continued during this week, clocking in at $15.1 million compared to a net sell of $33 million last week. Major selling was witnessed in banks ($4.7 million) followed by fertiliser ($4.2 million). On the local front, buying was reported by insurance ($10.6 million) followed by individuals ($7.3 million). Sector-wise positive contributions came from commercial banks (1,676 points), technology & communication (349 points), oil & gas exploration companies (284 points), oil & gas marketing companies (260 points) and cement (234 points). Scrip-wise positive contributors were HBL (694 points), BAHL (538 points), PPL (274 points), SYS (255 points), and BAFL (205 points). The sectors that mainly contributed negatively were miscellaneous (52 points), automobile assembler (11 points), and automobile parts and accessories (5 points). Scrip-wise negative contributions came from MEBL (439 points), EFERT (78 points), FABL (57 points), PSEL (56 points), and SAZEW (34 points). Analyst Abdul Basit at JS Research said bullish momentum continued to prevail, with the KSE-100 reaching its historical milestone of 100k levels during the week. He said the week began with an uncertain political environment amid protests, which led to significant selling in the market. However, the decline was limited, followed by a strong recovery after the protest was called off. Developments in the banking sector regarding changes in the minimum deposit rate kept activity, in the sector, high throughout the week. In the recent T-bill auction, the government raised Rs616 billion against a target of Rs800 billion, with yields decreasing by 61-85bps across different tenors. Similarly, the six-month Kibor dropped by 96bps WoW to 12.67 per cent, reaching its lowest level in over 2.5 years. Moreover, auto financing continued to recover for the second consecutive month (3.7 per cent MoM), reaching Rs236 billion in Oct-2024. As per the latest data, SBP reserves increased by $131 million WoW to $11.4 billion. Additionally, Pakistan received $500 million from the ADB under its climate financing programme, which will be reflected in the upcoming week. The PKR marginally depreciated by 0.10 per cent WoW, concluding the week at 278.04 against the greenback. Nabeel Haroon, an analyst at Topline Securities, said the KSE-100 index increased by 3.64 per cent on a WoW basis; this gain was largely led by the heavyweight banking sector on development on the MDR front, where the sector rallied after the SBP removed the MDR requirement for all conventional banks on deposits from financial institutions, public sector enterprises and public limited companies.
Novavax Inc. stock rises Monday, still underperforms marketSANTA CLARA, Calif. (AP) — The San Francisco 49ers were hit by another family tragedy with the announcement that star left tackle Trent Williams' wife gave birth to a stillborn son late last week. Sondra Williams announced on Instagram on Sunday that she gave birth to Trenton O’Brien Williams Jr. on Nov. 24. Williams also wrote that she was initially pregnant with twins and lost the other child earlier in the pregnancy. “I can’t even begin to describe how I felt leaving the hospital without you,” she wrote. “Nor how it feels being home celebrating Thanksgiving without my baby in my arms. My heart is broken and my arms are empty. But I know you’ll always be near watching over me and your sisters. And for that, my heart smiles with gratitude. Thank God for allowing us to bond for 35 weeks and for me to birth you so I could hold you in my arms. I’m at peace knowing you will never have to suffer.” Williams wrote that her son was diagnosed with Trisomy 13, a genetic condition also known as Patau syndrome that affects how the face, brain and heart develop, along with several other internal organs. Trent Williams spent time last week at the hospital and grieving with his family, including the couple's three young daughters. “He was there at the hospital with her and got to meet him and say bye,” coach Kyle Shanahan said Monday. "Then he had to cremate him on Friday. So he’s been dealing with that and he’s working through it. But we’re all just trying to be here for him through it all.” This is the second tragedy to hit the Niners in recent weeks. Cornerback Charvarius Ward's 1-year-old daughter , Amani Joy, died on Oct. 28. She had born prematurely with Down syndrome and had open-heart surgery in April 2023. Ward spent a few weeks away from the team and returned to the field for the first time on Sunday. Williams has missed the last two games with an ankle injury but Shanahan said he is hoping to be able to the return as soon as he's healthy. “It’s hard as a coach. It’s hard as a friend. It’s hard as a family member. It’s hard for everybody," Shanahan said. ”But we spend a lot of time with each other. That’s what’s cool about a football team. Whatever you go through, the good or the bad, we go through it together. I do like that they have a group of guys they can go to, a group of guys that can see them every day. You can never escape that full grief and stuff. But I do think it’s nice for those guys to have another avenue to get out on the football field, to get around teammates and things like that." ___ AP NFL: https://apnews.com/hub/nfl Josh Dubow, The Associated Press
Cleared for takeoff Recent bidding attempt reveals glaring lack of investor interest, as sole bidder offers fraction of minimum price After nearly four years of turbulence, Pakistan International Airlines (PIA) is finally set to soar in European skies once again. Defence Minister Khawaja Asif announced the lifting of the European Union Aviation Safety Agency (EASA) ban on PIA flights, a move that marks a significant turning point for the struggling national carrier. The accompanying approval of Third Country Operators (TCO) authorisation for another Pakistani airline further sweetens the deal, bolstering Pakistan’s aviation sector at a time when good news has been in scarce supply. The PML-N government has rightly taken credit for this breakthrough, which experts say could substantially improve PIA’s financial prospects, particularly as the government seeks to privatise the loss-making carrier. This development couldn’t come at a better time. A recent failed bidding attempt for PIA revealed a glaring lack of investor interest, with the sole bidder offering a mere fraction of the approved minimum price. With the restoration of lucrative international routes, PIA’s appeal to investors is likely to grow, offering a glimmer of hope for its beleaguered future. The lifting of the ban, however, also serves as a sobering reminder of how recklessness at the highest levels of government can result in devastating consequences. The roots of this saga trace back to PTI-era aviation minister Ghulam Sarwar Khan’s 2020 statement claiming that 262 out of 860 active Pakistani pilots held ‘fake’ licences. Although he later retracted and rephrased this assertion, the damage was done. The statement not only shook global confidence in Pakistan’s aviation standards but also led to a cascade of bans on Pakistani airlines, with EASA citing concerns about compliance with international safety standards. The financial toll on PIA was enormous, reportedly exceeding a billion dollars, further weakening a carrier already teetering on the edge. The repercussions of Sarwar’s unverified claims offer a critical lesson in governance: words have consequences. In the realm of international aviation – where safety and trust are paramount – irresponsible statements can carry staggering costs. That a minister propagated factually incorrect information on such a sensitive matter, leading to global embarrassment and financial ruin, is an indictment of not just individual recklessness but systemic failures in accountability. Despite the catastrophic fallout, neither Sarwar nor the PTI government faced meaningful accountability for this debacle. This lack of repercussions underscores a broader malaise in Pakistan’s political culture, where mismanagement and negligence are often forgotten rather than addressed. For a country grappling with a litany of crises, from economic instability to political chaos, the absence of accountability sets a dangerous precedent. The government must ensure that this second chance for PIA is not squandered. Efforts to privatise the airline should be conducted with transparency, realism, and due diligence to avoid another embarrassment like the previous failed auction. Simultaneously, reforms to improve PIA’s operational efficiency and customer service are essential to restoring its tarnished reputation. The lifting of the EASA ban is a moment of cautious optimism – a sign that recovery is possible even after a significant misstep. However, it is also a stark reminder of the stakes involved when those in power play fast and loose with facts. As PIA prepares to spread its wings over Europe, Pakistan must ensure that its aviation sector is guided not by political hyperbole but by a steadfast commitment to professionalism, accountability, and truth.Lions rush for 3 scores and use stingy defense to beat Colts 24-6 for 9th straight win
BOSTON (AP) — Jaylen Brown scored the Celtics’ first 15 points on five consecutive 3-pointers and finished with 29 points, before Boston withstood a late charge to beat the Minnesota Timberwolves 107-105 on Sunday. Jayson Tatum added 26 points and eight rebounds to help Boston post a season-high fifth straight victory. Anthony Edwards had 28 points and nine rebounds for Minnesota, which has lost five of its last seven. Julius Randle added 23 points, and Rudy Gobert finished with 10 points and 20 rebounds, his eighth double-double of the season. Minnesota got within 55-54 early in the third quarter, before a 14-0 run by Boston. The spurt featured four 3s by the Celtics, including two by Tatum. The lead grew to 79-60 with 4:26 to play in the period. But the Timberwolves chipped it all the way down in the fourth, getting within 107-105 with 34 seconds left on a driving layup by Randle. Timberwolves: Minnesota will be looking to for some wins at home, after dropping four of its last five on the road. Celtics: The Celtics have struggled at home at times this season but improved to 6-2 at the Garden. The Timberwolves had the ball with 7.1 seconds and a chance to win. Edwards got the inbounds and tried to drive on Brown. But he was cut off, and the ball swung to Naz Reid, who failed to get off a 3 as time expired. Boston assisted on 25 of its 37 made field goals. The Timberwolves host Houston in NBA Cup play on Tuesday, beginning a four-game homestand. The Celtics host the Los Angeles Clippers on Monday night. AP NBA: https://apnews.com/hub/nba
, /PRNewswire/ -- Alpheus Medical, Inc., a private, clinical-stage oncology company pioneering sonodynamic therapy (SDT) for the treatment of solid body cancers, today announced positive results from their Phase 1/2 clinical trial in patients with recurrent or refractory high-grade gliomas. The company's proprietary therapy demonstrated a strong safety profile and extended median overall survival (OS) and progression-free survival (PFS) compared to historical data. The data were presented by , MD, at the 2024 Society of Neuro-Oncology (SNO) Annual Meeting. "Glioblastomas are the most common and aggressive primary brain cancer, presenting a devasting diagnosis for patients and their familes," said , MD, Clinical Director of the Center for Neuro-Oncology at Dana-Farber Cancer Institute, and member of the Alpheus Medical Scientific Advisory Board. "Current treatment options are limited and often ineffective due to the diffuse spread of the disease across the blood-brain barrier and often across the entire hemisphere, making it universally fatal with a rapid timeline. The early clinical results of Alpheus's therapy are promising, offering hope for this new approach. I look forward to further exploring the potential benefits of their SDT therapy for this patient population who is in critical need of an effective solution." Alpheus Medical's non-invasive SDT treatment, which can be delivered in an outpatient setting, combines low-intensity diffuse ultrasound (LIDU ) with oral 5-aminolevulinic acid (5-ALA) to target and kill cancer cells across the entire hemisphere without the need for imaging or sedation. Key findings from the study include: "In addition to the strong safety data and early indications of efficacy, Alpheus' non-invasive SDT therapy stands out for its ease of use - a significant improvement over the uncomfortable and often toxic treatments currently available for this rapidly fatal condition," stated Dr. Schulder, Director of the Brain Tumor Center at Northwell Health, and one of the trial's primary investigators. "We look forward to expanding the ability for patients to receive this promising therapy." The Phase 1/2 trial ( ) is an open-label, multicenter, duration-escalation study evaluating the safety, optimal dose, and efficacy of Alpheus Medical's proprietary SDT platform. Twelve patients were enrolled across three cohorts, with treatment durations escalating to 60, 90, and 120 minutes per monthly session. The company plans to initiate a randomized, controlled trial at multiple centers across the U.S. in 2025. Alpheus Medical is a private, clinical-stage oncology company revolutionizing the treatment of solid body cancers with its pioneering sonodynamic therapy (SDT) platform that combines Low-Intensity Diffuse Ultrasound (LIDU ) with the sensitizing agent, oral 5-aminolevulinic acid (5-ALA). The company's proprietary, non-invasive technology is designed to selectively target and destroy cancer cells in the brain while preserving healthy tissue. Learn more at . View original content to download multimedia: SOURCE Alpheus Medical50 best Amazon Cyber Monday and Black Friday deals live on coffee machines, Ring doorbells and Kindles
Is it realistic to dream of becoming a stock market millionaire? Even starting with zero, I think it is credible to aim for a million, although I think that takes a and also money to invest. But what is the right approach? Some people aim to find the ‘next big thing’ and hope that they will stumble on a or before the share price soars. But if finding the next big thing was easy, the army of well-paid professionals who aim to do just that would be finding it with more regularity than they do! For every promising company that turns into an incredible success, there are lots that fall by the wayside. So, how I aiming for a million? I am looking for new companies. I am focusing on emerging sectors of the economy. I am necessarily even looking for big growth prospects. Instead I looking for ‘unexciting’ companies that tick over quietly year after year, churning out profits. Doing the maths What does it take to aim for a million? Imagine I invested £800 every month and was able to grow it at a of 12%. After 23 years I would have a portfolio worth over £1m. Yes, 23 years is a long time. But I am a long-term investor – and for £800 a month, I think seven figures in that timeframe is a solid return! How to earn 12% per year over the long run A return of 12% might not sound like a lot to aim for. But remember – that is a compound annual growth rate, meaning it includes the bad years as well as the good ones. This is where I think focussing on solid, long-term performers in the stock market can really pay off. Take ( ) as an example. Over the past year, the Ashtead share price has soared 33%. That is not a one-off: its long-term performance is also impressive. Over five years the growth has been 170%. On top of that, the dividend yield is 1.3%. Small beer, perhaps, but compound annual growth includes dividend income as well as share price movement. Also, if I had bought at the lower price five yeas ago, I would currently be earning a markedly higher yield of 3.5%. Does that mean I ought to buy the rental firm for my portfolio now? Not necessarily. I do still like its industry focus, as I expect construction firms will need to keep renting equipment in years to come, though I do see a risk that a weaker economy could hurt demand. I also like Ashtead’s US business as it gives it big economies of scale. Plus its business strategy, which has performed so well, continues to impress me. But after that leap in the Ashtead share price, the valuation attracts me less. I find the company’s of 22 too rich for my appetite. But, as I aim for a million, I am looking for similarly unexciting, well-established, and proven businesses — but at a more exciting valuation!Two primary schools are still undergoing contamination remediation years after the incidents were first discovered. Login or signup to continue reading Large sections of Fennell Bay and Belair public schools have been fenced for months as education and health authorities deal with the Earlier this month, the Glendale Holy Cross Primary School closed its gates for a week and moved its 150 students to another school after lead-contaminated soil was found in the school's playing area. Fennell Bay Public School - on the west side of Lake Macquarie - has been on the NSW Environmental Protection Authority's contaminated sites list since early 2021, when lead-contaminated soil - also known as 'black slag' - was discovered. The area was fenced off when soil testing confirmed the presences of residual lead-containing material in several small pockets across 6800 square metres of the school's playing field. Black slag is the product of the former Pasminco smelter, and from 1960 to 1995 more than two million tonnes of it was used throughout Lake Macquarie for landscaping. The EPA an initial assessment by its officers showed the "risk of exposure to students and the community was minimal". A NSW Department of Education spokesperson said half of the affected site had been remediated and re-opened to students in early 2024, and the school community had been regularly informed as the work progressed. The remainder of the remediation work is out for tender, with full remediation expected to be complete in the first half of 2025. "As a precaution, the department had open space areas at Fennell Bay Public School fenced off and made inaccessible," a department spokesperson said. "All remediation works to date has been undertaken in accordance with SafeWork NSW regulations, and completed by licensed and accredited contractors and monitored by occupational hygienists." Belair Public School, in Adamstown Heights, where in-ground asbestos containing material was discovered in March, 2023. About a quarter of the school grounds has been fenced off, or roughly 7000 square metres, since the "fragments of asbestos containing material" were found on the southern end of the grassed playground. The remediation is being managed by School Infrastructure NSW (SINSW), who said air monitoring data across the site had "returned results below the minimum detectable limit". "In this case the evidence and advice from our hygienist is that there is not airborne asbestos in this area," SINSW said in a statement. The next stage of remediation work to remove the hazardous material due to start during the upcoming summer school holidays, while landscaping and construction work will continue into term one of 2025. The work includes tearing up the cricket pitch, playground, concrete footpath and removing multiple trees. "The school holidays are the ideal time for a lot of maintenance and project work to take place in schools across the state without disrupting learning," SINSW said. "We appreciate that work being carried out at Belair Public School is taking longer than anticipated however, the work is being done carefully and methodically." A NSW Department of Education spokesperson said the health, safety and wellbeing of students and staff was its highest priority. Newcastle Herald news director and business reporter. Interested in any and all yarns.Whisper g'day mate to me at jamieson.murphy@austcommunitymedia.com.au Newcastle Herald news director and business reporter. Interested in any and all yarns.Whisper g'day mate to me at jamieson.murphy@austcommunitymedia.com.au DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. 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It’s official – The list of all the Social Security changes that will affect retirees starting January 1, 2025
Seibert misses an extra point late as the Commanders lose their 3rd in a row, 34-26 to the Cowboys LANDOVER, Md. (AP) — Austin Seibert missed his second extra point of the game with 21 seconds left after Washington’s Jayden Daniels and Terry McLaurin connected on an 86-yard touchdown, Dallas’ Juanyeh Thomas returned the ensuing onside kick attempt for a touchdown, and the Cowboys pulled out a 34-26 victory Sunday that extended the Commanders’ skid to three games. Seibert was wide left on the point-after attempt following a bad snap. On the ensuing onside kick attempt, Juanyeh Thomas returned it 43 yards for a touchdown as the Cowboys ended their losing streak at five in improbable fashion. Earlier in the fourth quarter, KaVonte Turpin returned a kickoff 99 yards for a TD. Patrick Mahomes and Chiefs win at the buzzer again, topping Panthers 30-27 on Shrader's field goal CHARLOTTE, N.C. (AP) — Patrick Mahomes threw for 269 yards and three touchdowns, Spencer Shrader kicked a 31-yard field goal as time expired and the Kansas City Chiefs beat the Carolina Panthers 30-27 to reach double-digit wins for the 10th straight season. The Chiefs bounced back from last week’s 30-21 loss at Buffalo and won at the buzzer yet again in a season of narrow escapes. Noah Brown caught two TD passes and DeAndre Hopkins also had a touchdown catch. Bryce Young finished 21 of 35 for 262 yards and a touchdown for the Panthers, who had their two-game winning streak snapped. Sam Darnold leads game-winning drive in OT and Vikings beat Bears 30-27 after blowing late lead CHICAGO (AP) — Sam Darnold threw for 90 of his 330 yards in overtime to set up Parker Romo’s game-ending 29-yard field goal, and the Minnesota Vikings outlasted the Chicago Bears 30-27 after giving up 11 points in the final 22 seconds of regulation. Darnold threw two touchdown passes, Jordan Addison caught eight passes for a career-high 162 yards and a touchdown, and T.J. Hockenson had 114 yards receiving for the Vikings, who remained one game behind Detroit in the rugged NFC North. Caleb Williams threw for 340 yards and two touchdowns for the Bears, who lost their fifth straight. No. 1 South Carolina women stunned by fifth-ranked UCLA 77-62, ending Gamecocks' 43-game win streak LOS ANGELES (AP) — Londynn Jones scored 15 points and fifth-ranked UCLA stunned No. 1 South Carolina 77-62. The Gamecocks' overall 43-game winning streak and their run of 33 consecutive road victories were snapped. The Gamecocks, who fell to 5-1, lost for the first time since April 2023. Te-Hina Paopao scored 18 points for South Carolina. The Bruins knocked off a No. 1 team for the first time in school history. The Bruins dominated from start to finish and their defense prevented the Gamecocks from making any sustained scoring runs. AP Top 25: Alabama, Mississippi out of top 10 and Miami, SMU are in; Oregon remains unanimous No. 1 Alabama and Mississippi tumbled out of the top 10 of The Associated Press college football poll and Miami and SMU moved in following a chaotic weekend in the SEC. Oregon is No. 1 for the sixth straight week and Ohio State, Texas and Penn State held their places behind the Ducks. The shuffling begins at No. 5, where Notre Dame returned for the first time since Week 2 after beating Army for its ninth straight win. No. 6 Georgia moved up two spots, No. 7 Tennessee and No. 8 Miami rose three and No. 9 SMU jumped four places. Indiana dropped from No. 5 to No. 10 following its first loss. Thitikul finishes eagle-birdie to win CME Group Tour Championship and claim record $4M prize NAPLES, Fla. (AP) — Down by two shots with two holes to play, Jeeno Thitikul knew exactly what was needed to capture the biggest prize in women’s golf history. And a eagle-birdie finish for the second straight day made it happen. Thitikul claimed the record-setting $4 million first-place check by winning the CME Group Tour Championship on Sunday. It was the biggest money prize in women’s golf history. Thitikul shot a 7-under 65 on Sunday and finished the week at 22 under, one shot ahead of Angel Yin (66). Yin had a two-shot lead walking to the 17th tee, only to wind up settling for the $1 million runner-up check. From Maui to the Caribbean, college hoops' Thanksgiving tournaments a beloved part of the sport College basketball is ready for its Thanksgiving Week closeup. The schedule is full of early season tournaments that could create buzzworthy marquee matchups. And many of those come in warm-weather locations. The Maui Invitational in Hawaii turns 40 years old this year. It opens Monday with a field that includes two-time reigning national champion and second ranked UConn. The Battle 4 Atlantis men's tournament in the Bahamas opens Wednesday. It has a field topped by No. 3 Gonzaga. There are also multiple women's events in the Bahamas featuring ranked teams, including the fourth Atlantis women's tournament. Jannik Sinner leads Italy past the Netherlands for its second consecutive Davis Cup title MALAGA, Spain (AP) — Jannik Sinner clinched Italy's second consecutive Davis Cup title and capped his breakthrough season at the top of tennis by beating Tallon Griekspoor 7-6 (2), 6-2 for a 2-0 win over the Netherlands in the final of the team competition in Malaga, Spain. Matteo Berrettini won Sunday's opening singles match 6-4, 6-2 against Botic van de Zandschulp. The Italians are the first country to win the Davis Cup twice in a row since the Czech Republic in 2012 and 2013. The No. 1-ranked Sinner stretched his unbeaten streak in singles to 14 matches and 26 sets. Netherlands reached the Davis Cup final for the first time. Verstappen still manages to win 4th straight F1 title in one of worst seasons of his Red Bull career LAS VEGAS (AP) — Max Verstappen won an unbelievable 19 races last season that included an incredible streak of 10 in a row in what would arguably go down as one of the greatest years in Formula 1 history. And yet it is this year’s eight-win season — his lowest victory total since 2020 — that Verstappen considers a career-defining campaign. Those eight wins were enough to win him a fourth consecutive F1 championship on Saturday night with his easy drive at the Las Vegas Grand Prix. The championship made Verstappen only the sixth driver in F1 history to win four or more titles. Maverick McNealy birdies the last hole at Sea Island to finally become PGA Tour winner ST. SIMONS ISLAND, Ga. (AP) — Maverick McNealy is finally a winner on the PGA Tour, and it took a shot he won't soon forget. McNealy was part of a four-way tie for the lead when he drilled a 6-iron to 5 feet on the final hole at Sea Island for birdie and a 68. That gave him a one-shot victory over Daniel Berger, Nico Echavarria and Florida State sophomore Luke Clanton. Berger and Henrik Norlander moved into the top 125 to keep full PGA Tour cards for next year. Clanton continued to show his promise. It was his second runner-up finish and fourth top 10 this year.
By ROB GILLIES, Associated Press TORONTO (AP) — Prime Minister Justin Trudeau told Donald Trump that Americans would also suffer if the president-elect follows through on a plan to impose sweeping tariffs on Canadian products , a Canadian minister who attended their recent dinner said Monday. Trump threatened to impose tariffs on products from Canada and Mexico if they don’t stop what he called the flow of drugs and migrants across their borders with the United States. He said on social media last week that he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders. Canadian Public Safety Minister Dominic LeBlanc, whose responsibilities include border security, attended a dinner with Trump and Trudeau at Trump’s Mar-a-Lago club on Friday. Trudeau requested the meeting in a bid to avoid the tariffs by convincing Trump that the northern border is nothing like the U.S. southern border with Mexico . “The prime minister of course spoke about the importance of protecting the Canadian economy and Canadian workers from tariffs, but we also discussed with our American friends the negative impact that those tariffs could have on their economy, on affordability in the United States as well,” LeBlanc said in Parliament. If Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, alcohol and other goods. The Produce Distributors Association, a Washington trade group, said last week that tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when the countries retaliate. Canada is already examining possible retaliatory tariffs on certain items from the U.S. should Trump follow through on the threat. After his dinner with Trump, Trudeau returned home without assurances the president-elect will back away from threatened tariffs on all products from the major American trading partner. Trump called the talks “productive” but signaled no retreat from a pledge that Canada says unfairly lumps it in with Mexico over the flow of drugs and migrants into the United States. “The idea that we came back empty handed is completely false,” LeBlanc said. “We had a very productive discussion with Mr. Trump and his future Cabinet secretaries. ... The commitment from Mr. Trump to continue to work with us was far from empty handed.” Joining Trump and Trudeau at dinner were Howard Lutnick, Trump’s nominee for commerce secretary, North Dakota Gov. Doug Burgum, Trump’s pick to lead the Interior Department, and Mike Waltz, Trump’s choice to be his national security adviser. Canada’s ambassador to the U.S., Kirsten Hillman, told The Associated Press on Sunday that “the message that our border is so vastly different than the Mexican border was really understood.” Hillman, who sat at an adjacent table to Trudeau and Trump, said Canada is not the problem when it comes to drugs and migrants. On Monday, Mexico’s president rejected those comments. “Mexico must be respected, especially by its trading partners,” President Claudia Sheinbaum said. She said Canada had its own problems with fentanyl consumption and “could only wish they had the cultural riches Mexico has.” Flows of migrants and seizures of drugs at the two countries’ border are vastly different. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border during the last fiscal year, compared with 21,100 pounds at the Mexican border. Most of the fentanyl reaching the U.S. — where it causes about 70,000 overdose deaths annually — is made by Mexican drug cartels using precursor chemicals smuggled from Asia. On immigration, the U.S. Border Patrol reported 1.53 million encounters with migrants at the southwest border with Mexico between October 2023 and September 2024. That compares to 23,721 encounters at the Canadian border during that time. Canada is the top export destination for 36 U.S. states. Nearly $3.6 billion Canadian (US$2.7 billion) worth of goods and services cross the border each day. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for and investing for national security.LOADING ERROR LOADING A hallmark of Donald Trump’s first presidency was the way major policy developments would sometimes get almost no attention, because they were competing with the flurry of higher-profile, mind-blowing controversies swirling around him and his team. Evidently Trump’s second presidency is going to unfold in the same way. For the past week, the political world has focused mostly on the controversies over Trump’s planned appointments for top positions in his administration. And that’s understandable, given his plan to put the nation’s health in the hands of a noted vaccine skeptic and to hand the national intelligence apparatus over to someone who likes to repeat talking points from Russian propaganda . Advertisement But that conversation has left virtually no space for discussion about policy changes — including one that should raise a lot of questions about exactly whose interests Trump will represent in government and exactly who has influence over him. The policy in question is a federal tax credit for buyers of new electric vehicles. It exists thanks to the 2022 Inflation Reduction Act, President Joe Biden’s signature legislative accomplishment, and is part of that law’s effort to reduce reliance on fossil fuels by promoting EV use. Last week Reuters reported that Trump’s transition team was recommending he ask Congress to kill the tax credit. And while Trump has not said anything publicly, auto industry leaders and investors saw the report as a trial balloon and indicator of what the president-elect is likely to do. It was not exactly a shocking development. Trump has been speaking out against Democratic support of EVs ― or what he has called, deceptively, an “ electric vehicle mandate ” ― for years. Especially when speaking in states like Michigan, cradle of America’s auto industry, he has portrayed the EV effort as elite Democrats imposing a tree-hugging agenda that will ruin the U.S. auto industry and, in the process, wipe out jobs for U.S. workers. Advertisement Still, Trump never said explicitly whether he’d actually seek to eliminate the tax credit. And there were reasons to think he might not pursue the idea after the election. One is that a number of House Republicans support the EV incentives. Many come from places like Georgia, Ohio, Indiana and Nevada ― states that Trump won and where the EV effort has led to a boom in factory construction. The recent EV push has “created good jobs in many parts of the country — including many districts represented by members of our conference,” the House members wrote in a summer letter to House Speaker Mike Johnson (R-La.) Then there are the feelings of the auto industry itself. Both Ford and General Motors, the two legacy car companies still based in Detroit, have supported the tax credit because they think a global shift towards EVs is inevitable. The real question now, they argue, is not whether there will be many more EVs in the future, but who will produce and sell them. The U.S. carmakers are particularly worried about losing ground to Chinese companies. Thanks to two decades of financial support from their own government, Chinese carmakers can now produce EVs more cheaply and, as a result, are poised to dominate the worldwide market. The new federal tax credit, worth up to $7,500 per vehicle but only valid for EVs produced here in the U.S., is giving Ford and GM a chance to compete on a more even playing field among U.S. consumers. Good jobs in the districts of House Republicans, a chance to help American industry compete with China ― those sure sound like ideas that might resonate with Trump. Advertisement But those aren’t the only appeals Trump is hearing. He’s also hearing from some of his biggest, and richest, allies. And they have a very different view. Hamm, Musk And EVs One of the co-leaders of the transition team on EV policy, according to Reuters, is Harold Hamm , a billionaire oil tycoon who was a prodigious Trump fundraiser during the campaign (and donated plenty of his own money, too). Hamm opposes support for EVs, whose growth over the long term would reduce demand for gasoline ― i.e., the financial lifeblood of his enterprises. Elon Musk, another Trump megadonor, also has the president-elect’s ear. And although Musk is the CEO of Tesla, the nation’s top electric carmaker, Musk has said his company doesn’t need the subsidies because it’s not trying to retool from making gas-powered cars and isn’t at the same disadvantage internationally as the legacy Detroit automakers. “I think it would be devastating for our competitors and for Tesla slightly,” Musk told investors over the summer. But he said that in the “long term, it probably helps” Tesla if Trump does away with the tax credit, since that could allow Tesla to more thoroughly dominate the U.S. market. Corey Cantor , a senior auto industry analyst at BloombergNEF, told HuffPost he thinks Tesla sales benefit from the tax credits more than Musk lets on. But he agrees Tesla has “far more flexibility” and would suffer less. Advertisement One reason for that is that Musk has fought unionisation at his auto plants and, according to outside analysts, pays his workers less than competitors . A major goal of the Biden EV push was to support unionised companies in the U.S. and, in the process, guarantee better pay for manufacturing workers. It’s impossible to know just how much Trump’s opposition to the EV tax credit reflects the influence of Hamm and Musk, given his own longstanding skepticism of measures to prevent climate change. But Trump has a lengthy , well-chronicled history of heeding or helping donors who want policy favors, or offering them positions in his administration. And that’s to say of nothing of how Trump and his family profited personally when, for example, lobbyists and foreign dignitaries would stay at Trump’s Washington hotel. One w atchdog group determined through public disclosures that his daughter, Ivanka, and her husband, Jared Kushner, made as much as $640 million in outside income during Trump’s first term. Now Trump is on his way back to the White House, with a transition team led by and stocked with billionaires . Musk, along with fellow billionaire Vivek Ramaswamy, are leading a so-called Department of Government Efficiency (“DOGE”) task force that, though not an official government entity, will identify targets for big cuts in government spending. The Political Game Lobbyists and analysts familiar with the transition told The New York Times they thought Ford and GM (and Stellantis, the other Detroit company, which is now part of a foreign conglomerate) still had a chance to save the tax credit, if they’re strategic enough. Advertisement As these sources explained it to the Times, part of Trump’s motivation for killing the tax credit was his grudge against the Detroit companies because of their past support for auto emissions policies he opposed. To get on Trump’s good side, the companies needed to make amends ― or, as the Times put it, “bow to Mr. Trump.” Trump has always been unabashedly transactional . The variable is which kind of currency will get him to respond. Campaign contributions? Family enrichment? Personal abasement? Some combination of the above? The future of EVs, like so many other issues in policy for the next four years, may depend on who figures out the answer. Related Donald Trump elon musk 2024 elections 5 Things To Know About Pam Bondi, Trump’s New Pick For Attorney General Trump's New ‘Nepotism’ Line Has Critics In Disbelief Trump Is Filling His White House With Men Accused Of Sexual Misconduct
Bottle shop gets a cheer from leading planner ahead of decision day
Kash Patel in 2022 (Image: AP/José Luis Villegas) “Brownie, you’re doing a heck of a job.” That was George W. Bush’s high praise for the head of the Federal Emergency Management Agency (FEMA), Michael Brown, for its response to Hurricane Katrina and the ensuing deluge of New Orleans in September 2005. No-one else, alas, shared the sentiment: within days, Brown — whom Bush had appointed — would be sidelined from the Katrina response by his boss, the head of the Department of Homeland Security. Ten days later, Brown, a lawyer on the fringes of Republican politics who’d lucked into a job in the expanding Bush counterterrorism apparatus and who had minimal experience in emergency management, quit FEMA. The 1,392 lives lost in the deluge — principally due to a failed state and federal government response — were grim testament to what happens when someone without experience is put into a key position during an emergency. But later, a more complicated story would emerge of Brown as not merely a poor leader but a failed turf warrior who had been unable to protect FEMA from budget cuts as resources were shifted to the post-9/11 counterterrorism focus in the newly created Department of Homeland Security. It might be easier to ask which of Trump’s cabinet picks HAVEN’T been accused of sexual misconduct Read More Donald Trump hasn’t nominated a head of FEMA yet — its current head is a veteran emergency administrator — but his pick to run Homeland Security is South Dakota Governor Kristi Noem, whose entire focus will be border control. With Trump promising to use troops to help round up undocumented immigrants for deportation, what are the chances that the mistakes of the Bush years will be replayed, only this time with border control, not terrorism, the idée fixe of Homeland Security. That is, until another major hurricane arrives and exposes the failings of another FEMA head... who is then scapegoated by a desperate administration. The perils of appointing people not merely clearly unsuited to cabinet roles — an anti-vaxxer as health secretary; an alleged child sex trafficker as attorney-general — but wholly lacking in the kind of experience needed to run large organisations continue to be a blinking red warning light on Donald Trump’s proposed appointments. The latest is Trump’s proposal to appoint Kash Patel as head of the FBI. Patel, a lawyer and political staffer before becoming a full-time Trump cheerleader, has zero law enforcement or executive experience, but strong views on the FBI: it’s part of the deep state conspiracy against Trump and must have its Washington headquarters shut down (who knew that voting against “Defund the Police” would lead to, well, defunding the police?). Patel has also promised that the new Trump administration would “come after the people in the media who lied about American citizens, who helped Joe Biden rig presidential elections... We’re going to come after you, whether it’s criminally or civilly — we’ll figure that out.” That’s the person now in charge of one of the world’s largest domestic security services. But please, don’t dare call them fascists. And in any event, “press freedom” is just one of those ridiculous beliefs of out-of-touch elites. Problematically there’s a head of the FBI there already — one appointed by Trump in 2017 (you do have to admire the genius of the deep state — managing to convince Trump himself to appoint someone who would implement its agenda). Christopher Wray’s appointment doesn’t end until 2027, but he’s expected to be fired. While Patel will be directing the FBI to go after journalists who reported that Biden won the 2020 election — no need to bother at Fox, Kash — the FBI’s day job of investigating terrorism, foreign espionage, organised crime, corruption, civil rights abuses and drug trafficking will receive lower priority (assuming FBI resources are not redeployed to the war on undocumented migrants). At least, until a terrorist attack happens that the FBI received warnings of but failed to do anything about; then it will be time for scapegoats. Da pacem, Domine: Why Trump is what democracy needs Read More This grim reality of large government organisations, one not understood by the Elon Musks and Gina Rineharts of the world, is that delivering goods or services (health; infrastructure; security; emergency management; education) on a state or country-sized scale to the satisfaction of those being served is complex, demanding and rarely achieved consistently even by skilled, experienced professional administrators. Insert people who aren’t skilled and experienced and the system might continue to deliver if they’re backed by enough more junior experts. But in a crisis or emergency, which places stress on bureaucratic systems that ends up accumulating at the weakest link, the systems start to malfunction. Insert people actively hostile to the organisation’s goals, or bent on pursuing others, and it doesn’t take a crisis to create dysfunction. White Americans who voted for Trump might be perfectly happy for the federal government to be crippled and broken by Trump’s appointees — the whole system’s rotten, after all, so why not bring it crashing down? How long that sentiment survives amid natural disasters or terrorist attacks will be an interesting question. Have something to say about this article? Write to us at letters@crikey.com.au . Please include your full name to be considered for publication in Crikey’s Your Say . We reserve the right to edit for length and clarity.Service Co. International ( NYSE:SCI – Get Free Report ) VP Elisabeth G. Nash sold 56,100 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $86.13, for a total transaction of $4,831,893.00. Following the sale, the vice president now directly owns 109,260 shares of the company’s stock, valued at approximately $9,410,563.80. The trade was a 33.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Service Co. International Stock Performance NYSE SCI opened at $87.24 on Friday. The company has a market capitalization of $12.62 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.48 and a current ratio of 0.52. Service Co. International has a 52-week low of $60.60 and a 52-week high of $88.32. The company has a 50-day simple moving average of $79.59 and a 200 day simple moving average of $75.59. Service Co. International ( NYSE:SCI – Get Free Report ) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. Service Co. International’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, research analysts predict that Service Co. International will post 3.51 EPS for the current year. Service Co. International Increases Dividend Analyst Ratings Changes A number of research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Raymond James boosted their target price on Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded Service Co. International from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Service Co. International has a consensus rating of “Moderate Buy” and an average price target of $85.25. Read Our Latest Analysis on Service Co. International Institutional Investors Weigh In On Service Co. International Large investors have recently added to or reduced their stakes in the company. BDF Gestion purchased a new stake in Service Co. International during the second quarter valued at about $3,948,000. Boston Trust Walden Corp lifted its stake in shares of Service Co. International by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 684,846 shares of the company’s stock valued at $48,713,000 after buying an additional 17,874 shares in the last quarter. Tidal Investments LLC bought a new position in Service Co. International in the 1st quarter worth approximately $917,000. Dimensional Fund Advisors LP grew its stake in Service Co. International by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company’s stock valued at $138,183,000 after buying an additional 135,017 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Service Co. International by 12.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 181,902 shares of the company’s stock valued at $14,358,000 after acquiring an additional 19,418 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock. Service Co. International Company Profile ( Get Free Report ) Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services. See Also Receive News & Ratings for Service Co. International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Co. International and related companies with MarketBeat.com's FREE daily email newsletter .Gaetz withdraws as Trump's pick for attorney general, averting confirmation battle in the Senate