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2025-01-14
NEW YORK (AP) — A slide for market superstar Nvidia on Monday knocked Wall Street off its big rally and helped drag U.S. stock indexes down from their records. The S&P 500 fell 0.6%, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average dipped 240 points, or 0.5%, and the Nasdaq composite pulled back 0.6% from its own record. Nvidia’s fall of 2.5% was by far the heaviest weight on the S&P 500 after China said it’s investigating the company over suspected violations of Chinese anti-monopoly laws. Nvidia has skyrocketed to become one of Wall Street’s most valuable companies because its chips are driving much of the world’s move into artificial-intelligence technology. That gives its stock’s movements more sway on the S&P 500 than nearly every other. Nvidia’s drop overshadowed gains in Hong Kong and for Chinese stocks trading in the United States on hopes that China will deliver more stimulus for the world’s second-largest economy. Roughly three in seven of the stocks in the S&P 500 also rose. The week’s highlight for Wall Street will arrive midweek when the latest updates on inflation arrive. Economists expect Wednesday’s report to show the inflation that U.S. consumers are feeling remained stuck at close to the same level last month. A separate report on Thursday, meanwhile, could show an acceleration in inflation at the wholesale level. They’re the last big pieces of data the Federal Reserve will get before its meeting next week on interest rates. The widespread expectation is still that the central bank will cut its main interest rate for the third time this year. The Fed has been easing its main interest rate from a two-decade high since September to offer more help for the slowing job market, after bringing inflation nearly all the way down to its 2% target. Lower interest rates can ease the brakes off the economy, but they can also offer more fuel for inflation. Expectations for a series of cuts from the Fed have been a major reason the S&P 500 has set so many all-time highs this year. “Investors should enjoy this rally while it lasts—there’s little on the horizon to disrupt the momentum through year-end,” according to Mark Hackett, chief of investment research at Nationwide, though he warns stocks could stumble soon because of how overheated they’ve gotten. On Wall Street, Interpublic Group rose 3.6% after rival Omnicom said it would buy the marketing and communications firm in an all-stock deal. The pair had a combined revenue of $25.6 billion last year. Omnicom, meanwhile, sank 10.2%. Macy’s climbed 1.8% after an activist investor, Barington Capital Group, called on the retailer to buy back at least $2 billion of its own stock over the next three years and make other moves to help boost its stock price. Super Micro Computer rose 0.5% after saying it got an extension that will keep its stock listed on the Nasdaq through Feb. 25, as it works to file its delayed annual report and other required financial statements. Earlier this month, 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 following the resignation of its public auditor . All told, the S&P 500 fell 37.42 points to 6,052.85. The Dow dipped 240.59 to 4,401.93, and the Nasdaq composite lost 123.08 to 19,736.69. In the oil market, a barrel of benchmark U.S. crude rallied 1.7% to settle at $68.37 following the overthrow of Syrian leader Bashar Assad, who sought asylum in Moscow after rebels. Brent crude, the international standard, added 1.4% to $72.14 per barrel. The price of gold also rose 1% to $2,685.80 per ounce amid the uncertainty created by the end of the Assad family’s 50 years of iron rule. In stock markets abroad, the Hang Seng jumped 2.8% in Hong Kong after top Chinese leaders agreed on a “moderately loose” monetary policy for the world’s second-largest economy. That’s a shift away from a more cautious, “prudent” stance for the first time in 10 years. A major planning meeting later this week could also bring more stimulus for the Chinese economy. U.S.-listed stocks of several Chinese companies climbed, including a 12.4% jump for electric-vehicle company Nio and a 7.4% rise for Alibaba Group. Stocks in Shanghai, though, were roughly flat. In Seoul, South Korea’s Kospi slumped 2.8% as the fallout continues from President Yoon Suk Yeol ’s brief declaration of martial law last week in the midst of a budget dispute. In the bond market, the yield on the 10-year Treasury rose to 4.19% from 4.15% late Friday. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.ph365 link download

AMMAN — Ambassador of Malaysia to Jordan Mohamad Nasri Abdul Rahman hosted a reception on Wednesday to introduce the logo and theme of The Association of Southeast Asian Nations (ASEAN) Malaysian Chairmanship 2025. The event took place at the Malaysian embassy in Amman under the theme “Inclusivity and sustainability.” Member states of the ASEAN are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Malaysia will assume chairmanship of this political and economic union on January 1, 2025. “Today brings us another step closer towards the beginning of an important new role for Malaysia,” said Abdul Rahman, noting that the logo and the theme for Malaysia’s ASEAN Chairmanship were officially unveiled by Prime Minister of Malaysia Dato’ Seri Anwar Ibrahim and launched by Foreign Minister Dato’ Sri Utama Mohamad Hasan on October 22. “Malaysia is deeply honoured and stands ready to assume this pivotal responsibility,” Abdul Rahman underlined, adding that main priorities for the Malaysian chairmanship are: fortification of the ASEAN centrality; continuation to push for greater commitment to enhance the ASEAN intra-trade and investment; and to ensure that the elements of inclusivity and sustainability, which is the theme for 2025, take centre stage in the regional community-building efforts. “The convening of the ASEAN-GCC plus China Summit in Kuala Lumpur in 2025 is indeed a testament to the ASEAN’s intent of collaborating with the wider global community,” the ambassador said, adding, “It is therefore with great joy that I introduce the logo and the theme of the ASEAN-Malaysia Chairmanship 2025.” Malaysia will also ensure that the ASEAN will be capable to leverage on advances in sciences, technology and innovation, and harness the benefits of digital transformation and new technologies. “Malaysia’s vision of the ASEAN will remain immutable, and will continue to reflect the hopes of the ASEAN peoples, for a peaceful, stable and prosperous region that is ready to contribute positively to global affairs,” Abdul Rahman underlined. Malaysia is one for the Founding Fathers of ASEAN, a regional bloc established on August 8, 1967 in Bangkok. 2025 will witness the fifth times Malaysia hold the ASEAN Chairmanship. The last time Malaysia held the ASEAN Chairmanship was in 1977, 1997, 2005 and 2015. “The ASEAN’s nuanced and pragmatic approach to managing geopolitical competition between major powers is increasingly seen as a model for the rest of the developing world. The ASEAN’s commitment to neutrality, dialogue, and regional cooperation, has kept Southeast Asia stable amid external rivalries,” the ambassador underlined. Regarding the economic collaboration, the ASEAN’s trade with China recorded US 696.7 billion in 2023, reflecting China’s position as the largest trading partner since 2009. “At the same time, trade with the US, Australia and India – which are among the countries of ASEAN’s Comprehensive Strategic Partnership, amounted to US 395.9 billion, 183.4 billion and 131 billion respectively,” Abdul Rahman said, noting that the ASEAN is Korea’s second largest trading partner, the largest consummation market and the second largest investment destination.Time magazine gave Donald Trump something it has never done for a designee: a lengthy fact-check of claims he made in an accompanying interview. The accompanies a transcript of what the president-elect told the newsmagazine’s journalists. Described as a “12 minute read,” it calls into question 15 separate statements that Trump made. It was the second time Trump earned the Time accolade; he also won in 2016, the first year he was elected president. Time editors said it wasn’t a particularly hard choice over other finalists Kamala Harris, Elon Musk, Benjamin Netanyahu and Kate Middleton. Time said Friday that no other Person of the Year has been fact-checked in the near-century that the magazine has annually written about the figure that has had the greatest impact on the news. But it has done the same for past interviews with the likes of Joe Biden, Netanyahu and Trump. Such corrections have been a sticking point for Trump and his team in the past, most notably when ABC News did it with Democrat Kamala Harris this fall. There was no immediate response to a request for comment on Friday. In the piece, Time called into question statements Trump made about border security, autism and the size of a crowd at one of his rallies. When the president-elect talked about the “massive” mandate he had received from voters, Time pointed out that former President Barack Obama won more electoral votes the two times he had run for president. The magazine also questioned Trump’s claim that he would do interviews with anyone who asked during the campaign, if he had the time. The candidate rejected a request to speak the magazine said. “In the final months of his campaign, Trump prioritized interviews with podcasts over mainstream media,” reporters Simmone Shah and Leslie Dickstein wrote.

AP Sports SummaryBrief at 7:07 a.m. EST

No. 2 Ohio State takes control in the 2nd half and runs over No. 5 Indiana 38-15

Like it or not, artificial intelligence is here to stay and many universities are trying to figure out how to live with it — and even take advantage of it. "It's not going away," said Toni Roberts, director of the Purdy Crawford Teaching Centre at Mount Allison University in Sackville. "So if it's not going away, how do we handle it?" The key, he said, is to use it "to our advantage" rather than letting students use it to avoid learning and putting in the work. Roberts, who teaches in the sociology department, has looked at the research into the use of AI by students. He said more than 80 per cent of students use generative AI. Yet, "only about 30 per cent of assignments, papers, what have you, are being identified by faculty as having used generative AI," he said. So a lot of them are slipping past professors. WATCH | See how N.B. universities address AI use: Universities grapple with AI, seek ways to adapt and benefit 13 hours ago Duration 2:41 Most New Brunswick universities allow individual professors to determine how much AI is allowed in their classes — some embrace its use, while others shun it completely. One of the fears, said Jennifer Tomes, the dean of science and graduate studies at Mount Allison University, is that AI interferes with the development of critical thinking skills. "The reason that a professor creates an assignment or a particular piece of writing or whatever it may be is because we want the students to go through the process of doing that, to develop the skills to do that particular kind of thing," she said. Tomes agrees there are ways for students to effectively use AI. She said some employers even expect students to learn how to use it "appropriately and ethically." Roberts said professors have the "academic freedom" to decide how — or whether — to use AI. Toni Roberts, director of the Purdy Crawford Teaching Centre at Mount Allison University, says he works with his students to 'co-create' a policy on how to use AI. (Submitted by Toni Roberts) Some have set parameters around the use of AI, while others have banned it completely, said Tomes, the university's academic integrity officer. While Mount Allison doesn't have a formal policy about AI, it is working on a set of guidelines or best practices, and it does have an academic integrity policy that says students aren't allowed to cheat or misrepresent information. So if they're caught using AI in a class that bans it, the student goes before Tomes and an academic integrity committee. Potentially skewing grade levels If professors do lean into it, there's an expectation that students will do better work, said St. Thomas University associate professor Andrew Klein. He said if AI can reliably perform at a C level, then a C level is no longer a passing grade. "If the grade scale is shifting because we're no longer expecting C level work, that does mean that we're expecting all students to be able to produce work beyond what they could before. So the work will get better. I mean, it's possible that it will make us all smarter." From instant essays to phishing scams, ChatGPT has experts on edge Are students taking artificial intelligence too far? Accusations of plagiarism are up at MUN Like a lot of professors, Tomes has opted for the middle ground. She said she's clear with students about how they can — and cannot — use AI. In his syllabus, Klein tells students that while using such technology may be "cool and part of our world now," using it without his specific say-so isn't allowed and will be considered plagiarism. One of the goals in his English class is "to guide you through the learning process of becoming a stronger reader and writer, he said. "This requires consistent practice, like most things worth learning, and using generative AI short-circuits that process and shortchanges you on your investment in your education." Andrew Klein, an associate professor in the English department at St. Thomas University, says AI cannot be used in his classes unless he specifically says it's OK. (Submitted by Andrew Klein) Klein said he's pretty confident that he can detect what a "ChatGPT 3.5 level paper looks like. It's very easy to see the telltale signs once you've seen a few." "On the other hand, I'm also very confident that I've been fooled many times by the higher level ones," said Klein. Tomes said some professors use software to detect AI. "But we are also aware that those are notoriously bad as well, that many of the programs that are designed to check for artificial intelligence don't produce reliable results." She said they also tend to flag students whose first language isn't English more frequently. Tomes said she often tries to create "AI-proof assignments" by asking students to "find things that are a little bit more obscure." Jennifer Tomes, the dean of science and graduate studies at Mount Allison University, is also the university’s academic integrity officer. (Submitted by Jennifer Tomes) Roberts said he works with his students to create their own policy. It's a conversation they have during the very first class. He said students "most of the time" decide "we cannot and should not use generative AI to do our work, but that we can use it for things like idea generation, brainstorming, checking grammar, coming up with ideas for the assignment they're working on, that sort of thing." So students agree that it can't be used to write an entire paper, but it can be used to "scaffold" or support their work, said Roberts. No one was available from the University of New Brunswick for an interview, but in an emailed statement, the university said it allows professors to decide whether to allow generative AI tools in their courses. "This flexibility allows them to better support diverse student learners and enhance the overall learning experience," said Petra Hauf, UNB's provost and vice-president academic. "UNB maintains a strict stance on academic offences, including plagiarism and cheating and our Academic Offences policy includes allegations involving AI under its definition of plagiarism."

Unique among ‘Person of the Year’ designees, Donald Trump gets a fact-check from Time magazine

Opinion: B.C.’s business disadvantage about to get worseLETHBRIDGE, Alta. — Alberta's Opposition NDP says a decision not to mail out voter registration cards due to the Canada Post strike could hurt turnout in a provincial byelection that is set for a week before Christmas. The NDP’s executive director, in a letter to chief electoral officer Gordon McClure, says the registration cards are "one of the few remaining supports provided by Elections Alberta to promote access to democracy." The cards let voters know when and how they can vote. Premier Danielle Smith announced last week that the byelection for Lethbridge-West would be held Dec. 18, to fill the vacancy that opened when former NDP legislature member Shannon Phillips resigned July 1. NDP Leader Naheed Nenshi had urged Smith to call the byelection earlier, as both NDP and the governing United Conservative Party candidates have been in place since September. Alberta Elections notes on its website that due to the Canada Post strike, "Where to Vote" cards will not be mailed to electors, and it warns that in the event of a continuing strike electors choosing to vote by special ballot may have to use other ways to send them in, such as a courier. NDP executive director Garett Spelliscy, in the letter, says that’s not good enough. He says the NDP wants Elections Alberta to conduct "robust voter outreach," which could include billboards, road signs, radio ads and a phone and text campaign. "Byelections tend to have lower voter turnout. The premier’s cynical decision for a winter election so close to Christmas and Hanukkah risks an even lower than typical turnout," Spelliscy said in the letter posted on social media late Monday. Spelliscy said a plan by Elections Alberta to issue social media posts and ads through the Lethbridge Herald newspaper "is constructive, but woefully inadequate." He noted seniors are less likely to access information through social media. The outcome of the byelection won’t affect the government, as the UCP currently has 49 seats in the 87-seat legislature compared with 37 for the NDP. The NDP candidate is Rob Miyashiro, while the UCP banner is carried by John Middleton-Hope. This report by The Canadian Press was first published Nov. 25, 2024. The Canadian Press

NEW YORK — A slide for market superstar Nvidia on Dec. 9 knocked Wall Street off its big rally and helped drag U.S. stock indexes down from their records. The S&P 500 fell 0.6 percent Monday, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average dipped 0.5 percent, and the Nasdaq composite pulled back 0.6 percent from its own record. Nvidia's fall of 2.5 percent was by far the heaviest weight on the S&P 500 after China said it's investigating the company over suspected violations of Chinese anti-monopoly laws. Nvidia has skyrocketed to become one of Wall Street's most valuable companies because its chips are driving much of the world's move into artificial-intelligence technology. That gives its stock's movements more sway on the S&P 500 than nearly every other. Nvidia's drop overshadowed gains in Hong Kong and for Chinese stocks trading in the United States on hopes that China will deliver more stimulus for the world's second-largest economy. Roughly three in seven of the stocks in the S&P 500 rose. The week's highlight for Wall Street will arrive midweek when the latest updates on inflation arrive. NEW YORK — Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost $26 billion. The New York City agencies have had a hand in iconic marketing campaigns like "Got Milk" for the California Milk Processor Board, "Priceless" for Mastercard, "Because I'm Worth It" for L'Oreal and "Think Different" for Apple. The combined company will be valued at more than $30 billion. It will will keep the Omnicom name and trade under the "OMC" ticker symbol on the New York Stock Exchange. The deal is expected to have annual cost savings of $750 million and is expected to close during the second half of next year. It still needs the approval of Omnicom and Interpublic shareholders. NEW YORK — Activist investor Barington Capital Group is calling on department store retailer Macy's to develop an internal real estate subsidiary, reduce capital expenditures and explore strategic options for its Bloomingdale's and Bluemercury chains among other changes to boost its slumping stock, according to its proposal made public Dec. 9. The presentation came after Barington, which has stakes in such brands as Victoria's Secret, Hanes and Dillard's, has built an undisclosed stake in Macy's. Barington said it has partnered with property owner Thor Equities. They said that Macy's stock is undervalued and that the real estate, including the flagship at Herald Square in Manhattan, is worth between $5 billion and $9 billion. They said Macy's should create a unit to collect market rents from its retail operations and pursue sales and redevelopment opportunities. WASHINGTON — TikTok asked a federal appeals court Dec. 9 to bar the Biden administration from enforcing a law that could lead to a ban on the popular platform until the Supreme Court reviews its challenge to the statute. The legal filing was made after a panel of three judges on the same court sided with the government last week and ruled that the law, which requires China-based TikTok parent ByteDance to divest its stakes in the social media company or face a ban, was constitutional. If the law is not overturned, both TikTok and ByteDance have said the popular app will shut down by Jan. 19. TikTok has more than 170 million American users who would be affected, the companies have said. In a legal filing, attorneys for the two companies wrote that even if a shutdown lasted one month, it would cause TikTok to lose about a third of its daily users in the U.S. "Before that happens, the Supreme Court should have an opportunity, as the only court with appellate jurisdiction over this action, to decide whether to review this exceptionally important case," the filing said. It's not clear if the high court will take up the case. Some legal experts have said the justices are likely to weigh in since the dispute raises novel issues about social media platforms and how far the government could go in protecting national security.

Firefly Aerospace , the leader in end-to-end responsive space services, announced it successfully completed environmental testing on Firefly’s Blue Ghost lunar lander ahead of its first mission to the Moon supporting NASA’s Commercial Lunar Payload Services (CLPS) initiative. Firefly is now preparing to ship the lander to Cape Canaveral, Florida, in mid-December for launch on a SpaceX Falcon 9 rocket during a six-day window that opens no earlier than mid-January 2025. “Blue Ghost aced environmental testing and proved the lander is performing 100% as expected, which is a testament to the incredible Firefly team,” said Jason Kim, CEO at Firefly Aerospace. “This team has gone above and beyond with innovative testing approaches to ensure Blue Ghost is flight ready. While we know there will be more challenges ahead, I’m confident this team has what it takes to softly touch down on the lunar surface and nail this mission.” Blue Ghost environmental testing was recently completed at NASA’s Jet Propulsion Laboratory (JPL) in mid-October. During testing, the most extreme temperatures the lander will see during transit and on the Moon’s surface were replicated in a thermal vacuum chamber. Equipped with a solar simulator, JPL’s chamber enabled comprehensive functional and behavioral testing in a flight-like environment. The testing also included vibration, acoustic, electromagnetic interference and compatibility tests to further verify the integrated lander can withstand each flight environment during launch, transit, and landing on the Moon. “With additional time in our schedule, we shipped Blue Ghost back to Firefly’s spacecraft facility in north Austin, Texas, where it has remained until we received the go to ship to the Cape,” said Jana Spruce, Vice President of Spacecraft at Firefly Aerospace. “In the meantime, the Firefly team has utilized this extra time to further conduct mission simulations and prep the team as we get ready to begin our first of many road trips to the Moon.” Following launch and vehicle separation, Blue Ghost will begin its approximately 45-day transit to the Moon, allowing ample time to conduct robust health checks and begin payload operations on orbit. Blue Ghost will then land in Mare Crisium and operate payloads for a full lunar day (14 Earth days). As part of NASA’s CLPS initiative, the 10 payloads will perform numerous science and technology demonstrations, including lunar subsurface drilling, sample collection, and dust mitigation to advance research for future human missions on the Moon. Additional demonstrations, including X-ray imaging of Earth’s magnetic field, will also benefit humans on Earth, providing insights into how space weather impacts the planet. Once payload operations are complete, Blue Ghost will capture the lunar sunset and provide critical data on how lunar regolith reacts to solar influences during lunar dusk conditions. Blue Ghost will then operate for several hours into the lunar night. Blue Ghost Mission 1, named Ghost Riders in the Sky, is the first of three Firefly task orders supporting the NASA CLPS initiative as part of NASA’s Artemis campaign that serves to unlock the commercial lunar economy and enable a lasting lunar presence. The approximately 60-day mission will be operated from Firefly’s Mission Operations Center in Cedar Park, Texas. For more details on Ghost Riders in the Sky, visit https://fireflyspace.com/missions/blue-ghost-mission-1/ .

ANKENY, Iowa (AP) — ANKENY, Iowa (AP) — Casey's General Stores Inc. (CASY) on Monday reported fiscal second-quarter net income of $180.9 million. The Ankeny, Iowa-based company said it had net income of $4.85 per share. The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.24 per share. The convenience store chain posted revenue of $3.95 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $4.01 billion. Casey's shares have risen 52% since the beginning of the year. In the final minutes of trading on Monday, shares hit $418.24, a climb of 52% in the last 12 months. This story was generated by Automated Insights ( http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on CASY at https://www.zacks.com/ap/CASYWishing you a great Thanksgiving

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