
Andrew Callahan: It’s time to forget about Jerod Mayo getting firedStocks closed higher on Wall Street at the start of a holiday-shortened week. The S&P 500 rose 0.7% Monday. Several big technology companies helped support the gains, including chip companies Nvidia and Broadcom. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite rose 1%. Honda’s U.S.-listed shares rose sharply after the company said it was in talks about a combination with Nissan in a deal that could also include Mitsubishi Motors. Eli Lilly rose after announcing that regulators approved Zepbound as the first prescription medicine for adults with sleep apnea. Treasury yields rose in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Major stock indexes rose on Wall Street in afternoon trading Monday, after a choppy start to a holiday-shortened week. The S&P 500 rose 0.6%. The Dow Jones Industrial Average recovered from an early slide to gain 29 points, or 0.1% as of 3:40 p.m. Eastern time. The tech-heavy Nasdaq composite rose 0.8%. Gains in technology and communications stocks helped outweigh losses in consumer goods companies and elsewhere in the market. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 3.3%. Broadcom climbed 5.5% to also help support the broader market. Walmart fell 2% and PepsiCo slid 1.2%. Japanese automakers Honda Motor and Nissan said they are talking about combining in a deal that might also include Mitsubishi Motors. U.S.-listed shares in Honda jumped 13.4%, while Nissan slipped 0.2%. Eli Lilly rose 3.5% after announcing that regulators approved Zepbound as the first and only prescription medicine for adults with sleep apnea. Department store Nordstrom fell 1.6% after it agreed to be taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. The Conference Board said that consumer confidence slipped in December. Its consumer confidence index fell back to 104.7 from 112.8 in November. Wall Street was expecting a reading of 113.8. The unexpectedly weak consumer confidence update follows several generally strong economic reports last week. One report showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The latest report on unemployment benefit applications showed that the job market remains solid. A report on Friday said a measure of inflation the Federal Reserve likes to use was slightly lower last month than economists expected. Worries about inflation edging higher again had been weighing on Wall Street and the Fed. The central bank just delivered its third cut to interest rates this year, but inflation has been hovering stubbornly above its target of 2%. It has signaled that it could deliver fewer cuts to interest rates next year than it earlier anticipated because of concerns over inflation. Expectations for more interest rate cuts have helped drive a roughly 25% gain for the S&P 500 in 2024. That drive included 57 all-time highs this year. Inflation concerns have added to uncertainties heading into 2025, which include the labor market's path ahead and shifting economic policies under an incoming President Donald Trump. "Put simply, much of the strong market performance prior to last week was driven by expectations that a best-case scenario was the base case for 2025," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.59% from 4.53% late Friday. European markets were mostly lower, while markets in Asia gained ground. Wall Street has several other economic reports to look forward to this week. On Tuesday, the U.S. will release its November report for sales of newly constructed homes. A weekly update on unemployment benefits is expected on Thursday. Markets in the U.S. will close at 1 p.m. Eastern on Tuesday for Christmas Eve and will remain closed on Wednesday for Christmas. Damian J. Troise And Alex Veiga, The Associated Press
President-elect Donald Trump on Monday said his incoming administration would slap new tariffs on imported goods from Mexico, Canada and China, fulfilling a key campaign promise that could have a major impact on trade. Trump said in a post on Truth Social that he plans to seek to impose a 25% tariff on products imported from Mexico and Canada, framing the proposed plan as a response to the ongoing fentanyl crisis. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump wrote. "This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" Trump said that he would also seek to impose additional tariffs on China. "I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States — But to no avail," Trump wrote. "Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America." Embassies for Canada, China and Mexico did not immediately respond to requests for comment on Monday night. The U.S. and China held high-level talks this year about the fentanyl crisis in an effort to resume counternarcotics cooperation after President Joe Biden and Chinese President Xi Jinping met in California last year. Biden also announced he would increase the tariff rate on various goods from China, saying in May that he would increase the tariffs on electric vehicles from 25% to 100% this year. On the campaign trail, Trump declared he would impose 20% blanket tariff on all imports, and add tariffs of at least 60% to Chinese products. During a presidential debate with then-Democratic nominee Kamala Harris, who called Trump's tariffs a "sales tax on the American people," Trump cast the proposed tariffs as a kind of payback. “Other countries are going to finally, after 75 years, pay us back for all that we’ve done for the world, and the tariff will be substantial,” Trump said during the September debate. Any proposed tariffs are likely to receive some pushback from businesses and on Capitol Hill, as NBC News has previously reported . This story first appeared on NBCNews.com . More from NBC News: 5 Democratic assumptions shattered by the 2024 election: From the Politics Desk Top federal prosecutor in New York announces resignation before Trump takes office Senator introduces bill to compel more transparency from AI developersFears for Gaza hospitals as fuel, other aid run lowNo. 21 Creighton's Steven Ashworth doubtful for Players Era Festival opener against Aztecs
CMS Energy Corp. stock outperforms competitors despite losses on the day
HARRISBURG, Pa. (AP) — President-elect Donald Trump is underscoring his intention to block the purchase of U.S. Steel by Japanese steelmaker Nippon Steel Corp. , and he's pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker. Trump had vowed early in the presidential campaign that he would “instantaneously” block the deal, and he reiterated that sentiment in a post on his Truth Social platform on Monday night. “I am totally against the once great and powerful U.S. Steel being bought by a foreign company” and will use tax incentives and tariffs to make U.S. Steel “Strong and Great Again, and it will happen FAST!” he wrote. “As President," he continued, "I will block this deal from happening. Buyer Beware!!!” President Joe Biden , like Trump, also opposes Nippon Steel's purchase of Pittsburgh-based U.S. Steel. Biden’s White House in September said that it had yet to see a report from the secretive Committee on Foreign Investment in the United States , which was reviewing the transaction for national security concerns. The committee, which is chaired by the treasury secretary and includes other Cabinet members, can recommend that the president block a transaction, and federal law gives the president that power. Ahead of the November election, the proposed merger carried political importance in Pennsylvania, a critical swing state that Trump eventually won. Biden publicly sided with the United Steelworkers, the labor union, in seeking to reject the deal. When he announced his opposition in a March statement, Biden said: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.” Nippon Steel has said it is the only company that can make the necessary investment in U.S. Steel's factories and strengthen the American steel industry. Both Nippon Steel and U.S. Steel on Tuesday released statements in support of the acquisition. "This transaction should be approved on its merits. The benefits are overwhelmingly clear. Our communities, customers, investors, and employees strongly support this transaction, and we will continue to advocate for them and adherence to the rule of law," U.S. Steel said. The deal follows a long stretch of protectionist U.S. tariffs that analysts say has helped reinvigorate domestic steel, including U.S. Steel. U.S. Steel's shareholders have approved the deal, but the United Steelworkers oppose it. In a statement Tuesday, the union said the deal carries “serious long-term implications for U.S. economic and national security.” “It’s clear that President Trump understands the vital role a strong domestic steel industry plays in our national security, as well as the importance of the jobs and communities the industry supports," the union said. The deal has drawn bipartisan opposition in the U.S. Senate, including from the incoming vice president, Republican Sen. JD Vance of Ohio, although the federal government's objections to the deal have drawn criticism that the opposition is political. Some U.S. Steel workers would prefer Nippon Steel acquire the company, given that it appears to have a better financial balance sheet than another potential buyer, Cleveland-Cliffs. U.S. Steel “provided a very, very good life for our families for a lot of years,” said Jack Maskil, a vice president at the Steelworkers local branch in West Mifflin, Pennsylvania. “And we feel that with the Nippon deal that a lot more families for futures to come will be able to share the same.” West Mifflin Mayor Chris Kelly said he met with Nippon Steel executives and found himself satisfied by their commitments. Located southeast of Pittsburgh, West Mifflin is home to U.S. Steel's Mon Valley Works–Irvin Plant. “There’s no question in my mind that it’s the best deal moving forward,” Kelly said at a panel hosted on Tuesday by the conservative think tank Hudson Institute, where Maskil was also speaking. The Biden administration committee vetting the merger is scheduled later this month to decide on the acquisition or possibly extend the ongoing review. William Chou, a deputy director at the Hudson Institute specializing in relations with Japan, said that "President-elect Trump's view on the deal are important." But given the upcoming deadline, “It's up to President Biden to recognize how this deal will advance the interests of future generations of U.S. Steel union steelworkers.” Trump’s statement came two weeks after Nippon Steel’s vice chairman, Takahiro Mori, visited Pittsburgh and Washington to meet with lawmakers, local officials and workers in an ongoing persuasion campaign. That campaign has included Nippon Steel's promises to boost its capital commitments beyond the original deal and, more recently, a pledge that it won’t import steel slabs that would compete with U.S. Steel’s blast furnaces. As part of its proposed $14.9 billion purchase of U.S. Steel, Nippon Steel also pledged to invest at least $1.4 billion in USW-represented facilities, not to conduct layoffs or plant closings during the term of the basic labor agreement, and to protect the best interests of U.S. Steel in trade matters. Boak reported from Washington.Dell, HP, Workday, and more set to report earnings Tuesday
Democrat Bob Casey concedes to Republican David McCormick in Pennsylvania Senate contestJudge rejects request to sideline a San Jose State volleyball player on grounds she’s transgender
The College Football Playoff selection committee enters its final two weeks of deliberation with a host of consequential decisions thrust on the 13 members. (1) Who are the final at-large selections into the field? (2) Which teams receive a first-round game at home? (3) Which four conference champions receive a first-round bye? The first two are causing plenty of angst. But it is the third stress point that, perhaps, offers the most intriguing debate. The five highest-ranked conference champions earn a bid into the 12-team field, and the top four champions are seeded Nos. 1-4 and receive a bye into the quarterfinals. Many presumed that the champions of the four power leagues would annually get those first-round byes. The CFP selection committee’s last rankings paint a different picture. In , Boise State (10-1) was ahead of all Big 12 teams, paving the way for the Broncos to receive the No. 4 seed and the first-round bye in a Group of Five-over-Power Four leap. Big 12 commissioner Brett Yormark said such a decision would be the wrong one. “Based on where we sit today, I see no rationale for the Big 12’s champion not getting a first-round bye,” Yormark told Yahoo Sports. “The winner of our championship should receive a bye. I have a lot of trust in the selection committee and I’m sure they’ll see it that way. Just look at the data. The data doesn’t lie. From a strength-of-schedule standpoint, all four of our schools at the top of the standings are ranked ahead of Boise State.” At the center of the debate is a comparison not only of the individual teams but of the two leagues. The argument is fascinating in an era of college football where the power leagues continue to separate themselves from the five others: the Mountain West, Sun Belt, Conference USA, American and Mid-American. Yormark is loaded with Big 12 data points. His league has 42 wins over teams with a winning record. The Mountain West has 11 (five of those from Boise and UNLV). Nine Big 12 teams are bowl eligible. The Mountain West has five. Boise’s strength of schedule is ranked 81st, 12 spots behind the worst of the Big 12’s top four teams (Iowa State at 69). The two leagues have actually met on the field eight times this season. The Big 12 is 6-2 with an average margin of victory of more than three touchdowns. UNLV holds both of the Mountain West wins (at Houston and Kansas). “Arizona State defeated Wyoming by 41 points. BYU beat them by 20. Boise struggled against Wyoming in a four-point win,” Yormark said. “There is no rationale for us not getting the bye.” In an interview Monday with Yahoo Sports, Boise State coach Spencer Danielson isn’t looking that far ahead — a message he hammers home to his team. "We still have two more games to even continue this conversation,” he said. "That’s where I am with it. We’ve been playing playoff football since the Oregon game. I believe in our schedule. We’ve played well. We played well against Orgon. Are we suited for a bye? That’s up to the committee." Seven of Boise State’s 10 wins have come by at least two scores, including a 21-point victory over a Washington State team that beat Texas Tech by three touchdowns in Week 2 of the season. But Boise State’s strongest arguments are, perhaps, its one loss and its best player. The Broncos led No. 1 Oregon for much of their game on Sept. 7, eventually losing on a last-second field goal. Boise State has the nation’s leading rusher, Heisman Trophy candidate Ashton Jeanty, who has run for nearly 600 yards more than the next best rusher. "There have been multiple teams in the rankings that are no longer in the rankings because they got caught up in this stuff,” Danielson said. “It’s hard for me to lobby on things with two games left. You control what you can control." Mountain West commissioner Gloria Nevarez declined comment aside from gesturing to similar data points for the Broncos, most notably that three-point loss in Eugene. The CFP selection committee meets again early this week before its rankings are revealed Tuesday night on ESPN. Over the weekend, the . Boise State, ranked No. 12 last week, survived that scare from Wyoming. In the , Arizona State was the highest-ranked Big 12 team at No. 14. Boise was No. 11. “What's going on right now isn't fair to the Big 12,” Kansas State coach Chris Klieman told reporters on Monday. “Other teams can lose in other leagues and it’s ‘That league is really good!’ We lose in this league and it’s ‘This league stinks!’ I don’t understand that. As a conference, we need to get together and figure some things out. For a bunch of teams to be 9-2 and we can’t get any (benefits) in the College Football Playoff, then we need to cancel one of these (conference) games and then go to eight games.” The decision from the selection committee related to the first-round bye is not insignificant. The fourth highest-ranked conference champion, the No. 4 seed in the bracket, gets an additional week to rest. The team would play the No. 5-12 seed winner in a bowl site quarterfinal matchup. The fifth highest-ranked conference champion, at least according to how the rankings project, is likely to be seeded No. 12. That means playing a first-round game at the No. 5 seed on the road. The No. 5 seed, for now, projects to be the Big Ten championship game loser, likely Oregon or Ohio State, the two top-ranked teams in the nation. Before any decision from the committee, though, the remaining schedules must be played out. Boise State hosts Oregon State (5-6) and then meets Colorado State or UNLV in the Mountain West championship game, played in Boise. The Big 12, meanwhile, is a lot less certain. Billed as having the most parity of any power league, the 16-team conference is certainly delivering. , with four of them in the best position. BYU (9-2), Iowa State (9-2), Arizona State (9-2) and Colorado (8-3) are tied at 6-2 in the conference atop the standings. All four are favored to win their regular season finale, a result that would put Arizona State and Iowa State in the title game. “I said in July we have great depth and parity and I thought it would play out and it has,” Yormark said. “I said that the month of November would be magical and it has. It’s been made-for-TV viewing.” The debate over the CFP’s final first-round bye is an extension of a long-running tussle between the power leagues and those from the lower-resourced level of the Football Bowl Subdivision. The gaps between the two continue to grow, both from decisions made by power leaders and from the courts. The decisions have accelerated the concept of schools directly compensating athletes — a much more difficult endeavor for Group of Five programs. Their budgets are normally fractions of those schools in power conferences that reap more lucrative television contracts and generate more internal revenue through donations and ticket sales. In fact, the Group of Five is having its most difficulty winning games against the power leagues this season, according to data from ESPN. Group of Five programs - including independents UMass and UConn, as well as Oregon State and Washington State — are 8-87 against power teams. The winning percentage of .084 is believed to be the worst in modern history. The decision to incorporate a fifth conference champion into the field — assuring a Group of Five spot — is a subject that has drawn heated debate and scrutiny over the years from leaders of the power leagues. Craig Thompson, the former Mountain West commissioner, was part of a four-man working group that originally created the current 12-team format. He was the only representative from the G5 ranks. “What’s happening with Boise State possibly getting a bye is not surprising,” Thompson said in a recent interview with Yahoo Sports. “The Group of Five champion, if they have a big year, gets rewarded in the system.” The five auto-bids and the first-round byes were not designated to specific conferences to avoid the scrutiny of congressional lawmakers, who, in the past, skewered the old BCS concept for creating a caste system. This past spring, CFP leaders — the 10 conference commissioners and Notre Dame’s athletic director — re-evaluated the format when they agreed on a new six-year extension that begins with the 2026 playoff. They didn’t settle on a format, instead only agreeing to protections that guarantee (1) the five highest-ranked champions an automatic berth, (2) the field to be 12 or 14 teams in size and (3) Notre Dame to receive an at-large bid if it is ranked inside the top 12 or 14, depending on the field size. During discussions, debate raged over whether to keep the Group of Five’s access spot. Speaking to Yahoo Sports from her conference football media days in July, Nevarez said that power conference leaders “threatened” to remove the G5’s bid in the spring. But, “to their credit, it never came off the table.”Elon Musk's Neuralink gets approval to test whether its brain chip can control a robotic armCher’s memoir made Howard Stern want to ‘strangle’ Sonny Bono8 cops among 33 injured as jobless teachers cane-charged
NoneWHEELING, W.Va. , Nov. 25, 2024 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today the appointment of Jan Pattishall-Krupinski to the role of Senior Executive Vice President and Chief Administrative Officer, effective immediately. This strategic move underscores the organization's commitment to advancing its leadership structure to support sustainable long-term growth and align with evolving business and stakeholder needs. In her new role, Pattishall-Krupinski, a WesBanco veteran, reports directly to WesBanco President and Chief Executive Officer Jeff Jackson and oversees bank and loan operations, customer service, corporate strategy and project management. Her expanded structure and scope reflect WesBanco's focus on operational excellence and strategic alignment, which is designed to drive greater agility and accelerate the execution of organizational goals. "Jan's promotion to Chief Administrative Officer recognizes her exceptional leadership and strategic contributions over her past 13 years of service to our organization," said Jackson. "Her expertise has been instrumental in guiding transformative initiatives, including leadership roles in multiple acquisitions, our core banking system transformation and advancements in technology and operations. This new role elevates the importance of integrating business operations and strategy at the executive level, ensuring we continue to be positioned for success in a dynamic marketplace." Pattishall-Krupinski joined WesBanco in 2011, most recently serving as Executive Vice President and Director of Operations. "I am honored to step into the role of Chief Administrative Officer as WesBanco continues its growth and transformation. This opportunity is a testament to the collaboration and excellence of our teams, who have been instrumental in shaping our success. I look forward to building on this foundation to drive operational excellence, embrace innovation and enhance the customer experience in every interaction," said Pattishall-Krupinski. Pattishall-Krupinski has a Bachelor of Science in Marketing from Penn State University and graduated from the Advanced Management Program at Harvard Business School . She serves on the boards of Crittenton Services, Leadership West Virginia and The Junior League of Wheeling . She is based at WesBanco's corporate headquarters in Wheeling, West Virginia . About Wesbanco, Inc. With over 150 years as a community-focused, regional financial services partner, WesBanco Inc. (NASDAQ: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our eight-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in Wheeling, West Virginia , WesBanco has $18.5 billion in total assets, with our Trust and Investment Services holding $6.1 billion of assets under management and securities account values (including annuities) of $1.9 billion through our broker/dealer, as of September 30, 2024 . Learn more at www.wesbanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram. View original content to download multimedia: https://www.prnewswire.com/news-releases/wesbanco-inc-names-jan-pattishall-krupinski-as-chief-administrative-officer-302315495.html SOURCE WesBanco, Inc.
Will LTR Pharma’s rise sustain?