AP News Summary at 3:15 p.m. EST'Embarrassed is an understatement': SocDems says it's taken 'a knock' with Hayes controversy
NoneNEW YORK (AP) — Technology stocks are pulling Wall Street toward another record amid mixed trading on Monday. The S&P 500 rose 0.2% in afternoon trading after closing its best month of the year at an all-time high . The Dow Jones Industrial Average was down 86 points, or 0.2%, with a little more than an hour remaining in trading, while the Nasdaq composite was 0.9% higher. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 31.1% to lead the market. Following accusations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company's board. It also said it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 2.9% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 1.1% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street's frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 3.7% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.6%. Walmart , which gave a more optimistic forecast, rose 0.3%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.3%. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday's headliner report to show U.S. employers accelerated their hiring in November, coming off October's lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.Minnesota Republicans sue to force election rerun in tight House race where 20 ballots are missing
ORCHARD PARK, N.Y. (AP) — Gratifying as it was for Sean McDermott to catch up with his family and get some rest during Buffalo’s bye week, the Bills coach on Wednesday found comfort returning to his weekly routine and familiar wardrobe — a gray T-shirt and sweatpants. “When I’m not wearing those, I go to my closet and I don’t know what to wear. I’m kind of like not myself,” he said before pulling up his hoodie for emphasis to reveal the gray shirt he had on underneath. “So I was telling some of the guys this morning, ‘It’s good to be back.’” Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Investors are increasingly concerned about the availability and reliability of power for datacenters, yet most are still confident that investment in the sector will expand over the next several years, driven by demand for AI and cloud services. Operators of data facilities face a growing number of challenges, not least of which is getting enough power for expanding their infrastructure or building new sites, as The Register has detailed in various articles over the past year or so. But a report from law firm DLA Piper claims that 70 percent of investors expect to see funding continue to rise for bit barn projects, including debt. This is despite almost every single one of them – 98 percent of respondents – voicing concerns about the availability and reliability of power to supply those projects. The report is based on research carried out by TMT Finance during Q3 2024, which surveyed 176 senior executives across the datacenter ecosystem, including those working for financiers, consultants, and operators. It estimates that the global bit barn market is worth about $300 billion in 2024, and forecasts a compound annual growth rate (CAGR) of 10 percent over the next five years, resulting in a valuation of $483.15 billion by 2029. However, some survey respondents indicated that they expected to see investments rise by more than 50 percent. Not surprisingly, the vast majority of those responding (97 percent) say that AI is the driving force behind demand for datacenter infrastructure, primarily via machine learning and natural language processing. Only 3 percent believe that demand is set to stay the same or decrease. In the report, DLA Piper highlights the scale of some of the challenges. It says that utility companies in the US are being flooded with power delivery requests for sites marked for datacenter construction, but that they are unable to fulfill many of these until the 2030s. In response, it says utilities are requiring large upfront non-refundable payments from investors in such sites, plus a commitment to use that power. It also claims utilities are getting developers to pay upfront for critical infrastructure such as substations that are needed to bring power to the site. DLA Piper cautioned that investors and developers should be prepared to see this last trend start to be replicated in other regions. This chimes with recent analysis by management consultancy Bain & Company, which warned that American energy companies needed to adapt to the AI-driven datacenter boom by ramping up their capacity, or demand would outstrip supply within the next few years. Another recent forecast said that US residents could face a 70 percent hike in their electricity costs by 2030 unless urgent action was taken to boost generation and transmission capacity. DLA Piper's report details some of the mitigation strategies that data dormitory operators can employ to address these energy challenges. In the short term, capacity rationing may be inevitable, it says, with temporary limits to the number of new projects in order to manage existing resources effectively. It also suggests negotiating contracts with utility providers, including so-called take-or-pay provisions, can help secure power commitments and alleviate risks associated with supply constraints. Longer term, many in the datacenter industry are investing in additional generation and transmission projects to enhance capacity and reliability. The report also touches on nuclear power, saying such assets are becoming "increasingly popular among the investor class" as bit barn operators look to secure long-term power security Investors also expect sustainability concerns around the energy and water usage of bit barns to grow, with 70 percent of survey respondents indicating that they expect to see greater scrutiny by regulators in the near future. In response, operators need to consider investing in more eco-friendly technologies and transparent reporting mechanisms. Despite the looming energy crisis the industry appears to be in danger of causing, the report concludes that the outlook for investors and dealmakers in 2024 is "overwhelmingly positive," driven by robust demand from AI, cloud services, and data generation. DLA Piper Partner Anthony Day said that datacenters are "key to the AI revolution and the wider global economy," but that significant investment will be required to satisfy increasing demands for processing power, along with a clear framework to encourage coordination between policymakers, investors, and power providers. "It should be possible to fulfill industry needs and realize AI's potential. However, the need for sufficient and reliable power supplies to be in place must be a global priority," he stated. ®New York City pet stores will soon be banned from selling dogs, cats and rabbits under a new law set to take effect on December 15, according to Attorney General Letitia James. The pet sale ban aims to stop dangerous large-scale breeding operations known as "puppy mills," where animals often face mistreatment and serious health issues. "Bringing a new pet into a family should be a time of excitement and joy, but animals from 'puppy mills' often suffer from serious medical issues, leaving families heartbroken and with hefty veterinary bills," Attorney General James said in press release. "This pet sale ban will help end the dangerous puppy mill-to-pet store pipeline that endangers pets and costs New Yorkers thousands of dollars in veterinary care." Senate Deputy Leader Michael Gianaris and Assemblymember Linda B. Rosenthal co-sponsored the Puppy Mill Pipeline Act, which bans the sale, lease or transfer of pets through retail stores. The law permits pet stores to charge rescue groups reasonable fees for using their space to showcase pets available for adoption. "This is a great step forward for our four-legged friends as we continue to fight against abusive and inhumane puppy mills," Gianaris said in a press release. "We have stood up for the voiceless animals, who deserve respect and compassion and I am grateful the Attorney General intends to vigorously enforce our new law. " "This law will spare countless animals the abuse and disease they suffer in puppy mills and will protect consumers as well. However, as with any piece of legislation that upends the status quo, we can anticipate some establishments may employ every imaginable legal trick to evade the law," Rosenthal said in a press release. New Yorkers can still adopt pets, pet stores can partner with rescue organizations, or you can go to a certified breeder. This new law will help end the dangerous puppy mill-to-pet store pipeline that endangers pets and leaves families with expensive vet bills and broken hearts. Retail pet stores selling pets after December 15 risk penalties of up to $1,000 per violation. New Yorkers searching for a furry companion can still adopt pets from humane societies , animal rescues or licensed breeders. Earlier this year, Attorney General James secured $300,000 from Shake A Paw, a Long Island pet store, to compensate hundreds of consumers who were illegally sold sick puppies without their knowledge. The illnesses reflected conditions commonly found in dogs bred and purchased from puppy mills. According to their website, they are the "retailer of healthy puppies," yet they failed to disclose the animals' genuine medical conditions, misrepresented the puppies' breeds, and refused to reimburse consumers for veterinary bills resulting from the sick dogs they sold. Newsweek reached out to Shake A Paw for comment. What Is A Puppy Mill? A puppy mill is a commercial dog-breeding facility prioritizing profit over the welfare of the animals. These facilities often breed dogs in overcrowded and unsanitary conditions, providing minimal veterinary care, poor nutrition and inadequate socialization for the animals. Female dogs are frequently bred repeatedly without sufficient recovery time between litters, which can harm their health. The puppies produced in puppy mills are typically sold to pet stores, brokers or directly to consumers through online ads or classified listings. Many puppies from these operations suffer from genetic disorders, illnesses or behavioral issues due to poor breeding practices and neglect. Do you have a story Newsweek should be covering? Do you have any questions about this story or the Menendez Brothers? Contact LiveNews@newsweek.comPresident Dr Irfaan Ali has envisioned a future whereby the Moruca subdistrict in Region One (Barima-Waini) can produce enough food to supply other countries in the Caribbean region. He made this remark on Tuesday at the sod turning ceremony for the $4.4 billion Moruca Regional Hospital. President Ali spoke about the Government’s investment to dredge the Moruca River. In May this year, the Government set aside $10 million to clean and dredge the waterway. On Tuesday, President Ali explained that this initiative can unlock the potential of Moruca to become a major agricultural hub not just for Guyana but the entire Caribbean region. By making it easier for vessels to navigate the river, he said “think about it, Port of Spain, the capital of Trinidad and Tobago is only 450km away. With the right systems in place, Mourca’s produce can feed families in Trinidad and Tobago, Barbados and beyond.” “That is the future we want to build, that is the future we have to build,” he added. According to Ali, this is why the Government has been investing heavily into the region’s agriculture sector. To expand production, the government has made available 5000 citrus plants for residents to cultivate. Investments are also being made in honey production and the cultivation of spices in the region. The president also said investments are being made into a cassava mill to make cassava flour, which can serve the global market. President Ali had previously remarked that, “Region One has the potential to produce all the cassava, eddoes, sweet potatoes, yams, turmeric, ginger, and cage culture fish that the entire Trinidad and Tobago can utilise.”
Who is Azeez Al-Shaair? What to know about Houston Texans star after brutal hit on Trevor LawrenceAmid an extended break for teams that didn't advance in the NBA Cup, LeBron James "is taking some time" from Lakers practice, head coach JJ Redick said. Wednesday that James missed Wednesday's practice for "personal reasons" and that his absence was excused. Further details of why James missed practice are unclear. The Lakers, like the rest of the NBA that didn't advance to the quarterfinals of the NBA Cup, have a few days off this week. They last played Sunday, . They'll next play Friday against the Minnesota Timberwolves. James missed Sunday's game against Portland with left foot soreness. The absence was his first in 24 Lakers games this season. His status for Friday's game against Minnesota is unclear. Redick said before Sunday's Trail Blazers game that time off for James this week "could be really good for him." After the game, he encouraged all Lakers players to make the most of the extended early season break. "Heck, if somebody wants to go spend a couple of nights in Santa Barbara and relax, that's fine too," Redick said, . "It's a quarter way through the season." Failing to make the NBA Cup elimination round certainly has its upside. James will turn 40 on Dec. 30. He's averaged 23 points, 9.1 assists and eight rebounds per game this season and remains one of the league's most dominant forces. He's also showed signs of wear, including in a loss to the Timberwolves on Dec. 2 that threatened to snap a streak of 1,242 consecutive games scoring in double figures. The Lakers (13-11) also stumbled into the NBA Cup break with seven losses in 10 games, including a 134-93 defeat to the Heat on Dec. 4. If there are opportunities for James to take a step back , it makes sense for him and the Lakers to take advantage. "In game, he's asked for a sub a couple times because he's gassed," Redick said, per McMenamin. "For us, we have to be cognizant as we play more and more games, just the cumulative effect of playing a lot of minutes and Sunday, being banged up with the foot thing, it felt like a good opportunity for him to get some rest." Whether James is back for Friday's game and beyond remains to be seen. His status — and the Lakers' reasoning if he does miss more time — will be worth watching.
Partsol Secures Technology-Enabled Service Subscription with the US Army
WASHINGTON — President-elect Donald Trump on Tuesday reached a required agreement with President Joe Biden’s White House to allow his transition staff to coordinate with the existing federal workforce before taking office on Jan. 20. The congressionally mandated agreement allows transition aides to work with federal agencies and access non-public information and gives a green light to government workers to talk to the transition team. But Trump has declined to sign a separate agreement with the General Services Administration that would have given his team access to secure government offices and email accounts, in part because it would require that the president-elect limit contributions to $5,000 and reveal who is donating to his transition effort. The White House agreement was supposed to have been signed by Oct. 1, according to the Presidential Transition Act, and the Biden White House had issued both public and private appeals for Trump’s team to sign on. The agreement is a critical step in ensuring an orderly transfer of power at noon on Inauguration Day, and lays the groundwork for the White House and government agencies to begin to share details on ongoing programs, operations and threats. It limits the risk that the Trump team could find itself taking control of the massive federal government without briefings and documents from the outgoing administration. As part of the agreement with the White House, Trump’s team will have to publicly disclose its ethics plan for the transition operation and make a commitment to uphold it, the White House said. Transition aides must sign statements that they have no financial positions that could pose a conflict of interest before they receive access to non-public federal information. Biden himself raised the agreement with Trump when they met in the Oval Office on Nov. 13, according to the White House, and Trump indicated that his team was working to get it signed. Trump chief of staff-designate Susie Wiles met with Biden’s chief of staff Jeff Zients at the White House on Nov. 19 and other senior officials in part to discuss remaining holdups, while lawyers for the two sides have spoken more than a half-dozen times in recent days to finalize the agreement. “Like President Biden said to the American people from the Rose Garden and directly to President-elect Trump, he is committed to an orderly transition,” said White House spokesperson Saloni Sharma. “President-elect Trump and his team will be in seat on January 20 at 12 pm – and they will immediately be responsible for a range of domestic and global challenges, foreseen and unforeseen. A smooth transition is critical to the safety and security of the American people who are counting on their leaders to be responsible and prepared.” Without the signed agreement, Biden administration officials were restricted in what they could share with the incoming team. Trump national security adviser-designate Rep. Mike Waltz met recently with Biden national security adviser Jake Sullivan, but the outgoing team was limited in what it could discuss. “We are doing everything that we can to effect a professional and an orderly transition,” White House national security spokesman John Kirby told reporters on Monday. “And we continue to urge the incoming team to take the steps that are necessary to be able to facilitate that on their end as well.” “This engagement allows our intended Cabinet nominees to begin critical preparations, including the deployment of landing teams to every department and agency, and complete the orderly transition of power,” said Wiles in a statement. The Trump transition team says it would disclose its donors to the public and would not take foreign donations. A separate agreement with the Department of Justice to coordinate background checks for vetting and security clearances is still being actively worked on and could be signed quickly now that the White House agreement is signed. The agency has teams of investigators standing by to process clearances for Trump aides and advisers once that document is signed. That would clear the way for transition aides and future administration appointees and nominees to begin accessing classified information before Trump takes office. Some Trump aides may hold active clearances from his first term in office or other government roles, but others will need new clearances to access classified data. Trump’s team on Friday formally told the GSA that they would not utilize the government office space blocks from the White House reserved for their use, or government email accounts, phones and computers during the transition. The White House said it does not agree with Trump’s decision to forgo support from the GSA, but is working on alternate ways to get Trump appointees the information they need without jeopardizing national security. Federal agencies are receiving guidance on Tuesday on how to share sensitive information with the Trump team without jeopardizing national security or non-public information. For instance, agencies may require in-person meetings and document reviews since the Trump team has declined to shift to using secure phones and computers. For unclassified information, agencies may ask Trump transition staff to attest that they are taking basic safeguards, like using two-factor authentication on their accounts.During a recent inspection of the road concretisation work in Santacruz West, Mumbai BJP President and MLA Ashish Shelar raised concerns over the sub-standard quality of materials used in the project. He pointed out irregularities in the construction of Bhargava road, urging the civic body to ensure better quality control. Meanwhile, the civic authorities has assured that the contractors comprising with quality of roads will face serious action. The BMC has completed only 46 kms of the planned 324 kms in Phase 1, since last year. Currently, work is ongoing on 213 roads, while 298 roads are yet to be concretised in this phase. In Phase 2, out of 1,420 roads, 433 roads are under concretisation, with many still pending. Road concretisation work in Santacruz | FPJ Road concretisation work in Santacruz | FPJ Shelar noticed substandard work during his inspection of one of the concretisation projects in the western suburbs. He was accompanied by Assistant Municipal Commissioner of H West Ward, Vinayak Vispute, and other concerned officials from the road departments. Shelar has demanded a comprehensive audit of the work and also investigate the matter. The municipal commissioner Bhushan Gagrani took a review of road concretisation work in the last week. "Not only the contractor but quality management agency will also face the action if any concretised roads work is found to be of inferior quality," said a senior civic official. To ensure high standards and quality in the cement concreting process, the Indian Institute of Technology - Bombay (IIT - B) has been appointed as an independent agency for monitoring the quality of roads work.
An incident in Sandy, Utah, involving a car dealership and a dissatisfied customer, ended with a vehicle crashing through the dealership’s glass front. The man behind the wheel cited frustration over a refund refusal as the reason for his actions. What Happened Michael Lee Murray, 35, purchased a used Subaru Outback from the Tim Dahle Mazda Southtowne dealership for $4,000. Shortly after the purchase, Murray claimed the vehicle had mechanical problems. He described the car as a “lemon,” meaning it had significant manufacturing defects that could pose safety risks. Murray returned to the dealership, requesting a refund. The management explained that the vehicle had been sold “as is” and was non-refundable. According to dealership manager Tyler Slade, Murray had been informed before the sale that the car required repairs. Also Read : As the Eras tour ended, here's what Taylor Swift has lined up next After being denied a refund, Murray threatened to ram his car into the dealership unless his money was returned. The staff attempted to calm him and discuss alternative solutions. Despite this, Murray drove his vehicle into the dealership’s glass doors, damaging property, including a desk. 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Employees called the police, who reported that several salesmen were near the impact site. Damages and Arrest The dealership reported damages estimated at $10,000. Fortunately, no one was injured. Police arrested Murray on charges of criminal mischief, reckless endangerment and economic disruption. He was later released from jail. Also Read : This recent untoward incident will never let you leave a loaded gun unsecured at home. Here's what happened After his release, Murray admitted to reaching a “breaking point.” He expressed regret over his actions, saying he acted out of anger and frustration regarding the denied refund. FAQs What charges did Michael Murray face after the incident? He was charged with criminal mischief, reckless endangerment and economic disruption. Were any employees or customers injured during the crash? No injuries were reported, but the dealership suffered an estimated $10,000 in damages. (You can now subscribe to our Economic Times WhatsApp channel )