President-elect Donald Trump is selecting hedge fund CEO Scott Bessent to be Treasury secretary, he announced Friday. In a statement, Trump said he was "most pleased to nominate" Bessent, describing him as "widely respected as one of the world's foremost international investors and geopolitical and economic Strategists." He said that that Scott "will support" policies that "drive U.S. competitiveness, and stop unfair trade imbalances." The founder of Connecticut-based hedge fund Key Square Group, 62-year-old Bessent had been making a full-court press for the post to Trump, according to a source deeply involved in transition planning. Trump has previously called Bessent a "nice-looking guy" and "one of the most brilliant men on Wall Street." Bessent joked on Fox News that he's in "violent agreement" with Trump on that. The Treasury's mission is to maintain a strong economy and promote economic conditions that both enable growth and stability for the U.S. The department is also charged with managing U.S. finances and combating threats to national security by protecting the financial system's integrity. Bessent, like Trump, advocates tariffs , viewing them as a way to raise revenue and protect American industries. He previously worked for conservative foil George Soros for nearly a decade in the 1990s, and at one point was the executive director of Soros' hedge fund. Bessent is also openly gay, and he and his husband, former New York City prosecutor John Freeman, have two children. If confirmed, Bessent would be the first Senate-confirmed gay Cabinet member of a Republican administration. Ric Grenell was acting director of national intelligence under Trump, but the Senate never confirmed him. A native of South Carolina, Bessent is a graduate of Yale University. Treasury secretary is a Senate-confirmed position. Janet Yellen is the current treasury secretary under President Biden.Check Out Santa’s List of Christmas Events in FresnoCroatia's incumbent president gains most votes for re-election, but not enough to avoid a runoff
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The Dolphins ruled out LT Terron Armstead from Sunday’s game against the Browns due to a knee injury. Armstead, 33, is a former third-round pick of the Saints back in 2013. He finished the final year of his five-year, $65 million contract and made a base salary of just over $1 million in 2021 following a restructuring. He then tested the open market as a free agent in 2022 and signed a five-year deal worth $75 million with the Dolphins. Armstead is slated to make base salaries of $13.25 million and $13.3 million over the next two seasons. In 2024, Armstead appeared in and started 14 games for the Dolphins at left tackle. We will have more news on Armstead as it becomes available. This article first appeared on NFLTradeRumors.co and was syndicated with permission.
PORTLAND, Maine (AP) — Honey, they shrunk the catalogs. While retailers hope to go big this holiday season , customers may notice that the printed gift guides arriving in their mailboxes are smaller. Many of the millions of catalogs getting sent to U.S. homes were indeed scaled down to save on postage and paper, resulting in pint-sized editions. Lands’ End, Duluth Trading Company and Hammacher Schlemmer are among gift purveyors using smaller editions. Some retailers are saving even more money with postcards. Lisa Ayoob, a tech-savvy, online shopper in Portland, Maine, was surprised by the size of a recent catalog she received from outdoor apparel company Carbon2Cobalt. “It almost felt like it was a pamphlet compared to a catalog,” she said. Catalogs have undergone a steady recalibration over the years in response to technological changes and consumer behavior. The thick, heavy Sears and J.C. Penney catalogs that brought store displays to American living rooms slimmed down and gave way to targeted mailings once websites could do the same thing. Recent postal rate increases accelerated the latest shift to compact formats. The number of catalogs mailed each year dropped about 40% between 2006 to 2018, when an estimated 11.5 billion were mailed to homes, according to the trade group formerly known as the American Catalog Mailers Association. In a sign of the times, the group based in Washington rebranded itself in May as the American Commerce Marketing Association, reflecting a broadened focus. But don't expect catalogs to go the way of dinosaurs yet. Defying predictions of doom, they have managed to remain relevant in the e-commerce era. Retail companies found that could treat catalogs with fewer pages as a marketing tool and include QR and promo codes to entice customers to browse online and complete a purchase. Despite no longer carrying an extended inventory of goods, catalogs are costly to produce and ship. But they hold their own in value because of growing digital advertising costs, helping retailers cut through the noise for consumers barraged by multi-format advertisements, industry officials say. In an unlikely twist, notable e-commerce companies like Amazon and home goods supplier Wayfair started distributing catalogs in recent years. Amazon began mailing a toy catalog in 2018. That was the same year Sears, which produced an annual Christmas Wish Book Wish starting in 1933, filed for bankruptc y. Fans of printed information may rejoice to hear that apparel retailer J.Crew relaunched its glossy catalog this year. Research shows that the hands-on experience of thumbing through a catalog leaves a greater impression on consumers, said Jonathan Zhang, a professor of marketing at Colorado State University. “The reason why these paper formats are so effective is that our human brains haven’t evolved as fast as technology and computers over the past 10 to 20 years. We retain more information when we read something on paper. That's why paper books remain relevant," Zhang said. “The psychology shows that three-dimensional, tactile experiences are more memorable.” Pint-sized presentations still can work, though, because the purpose of catalogs these days is simply to get customers’ attention, Zhang said. Conserving paper also works better with younger consumers who are worried about the holiday shopping season's impact on the planet, he said. Postal increases are hastening changes. The latest round of postage hikes in July included the category with the 8.5-by-11-inch size that used to be ubiquitous for the catalog industry. Many retailers responded by reducing the size of catalogs, putting them in a lower-cost letter category, said Paul Miller, executive vice president and managing director of the American Commerce Marketing Association. One size, called a “slim jim,” measures 10.5 by 5.5 inches. But there other sizes. Some retailers have further reduced costs by mailing large postcards to consumers. Lands' End, for one, is testing new compact formats to supplement its traditional catalogs. This year, that included folded glossy brochures and postcards, along with other formats, Chief Transformation Officer Angie Rieger said. Maine resident Ayoob said she understands why retailers still use catalogs even though she no longer is a fan of the format. These days, she prefers to browse for products on the internet, not by flipping through paper pages. “Everybody wants eyeballs. There’s so much out there -- so many websites, so many brands,” said Ayoob, who spent 35 years working in department stores and in the wholesale industry. Targeting customers at home is not a new concept. L.L. Bean was a pioneer of the mail-order catalog after its founder promoted his famous “Maine Hunting Shoe” to hunting license holders from out-of-state in 1912. The outdoor clothing and equipment company based in Freeport, Maine, is sticking to mailing out regular-sized catalogs for now. “By showcasing our icons, the catalog became an icon itself,” L.L. Bean spokesperson Amanda Hannah said. "Even as we invest more in our digital and brand marketing channels, the catalog retains a strong association with our brand, and is therefore an important part of our omni-channel strategy, especially for our loyal customers.”Tripura CM Warns of Historical Amnesia in BangladeshElectronic cash register Market Size, Outlook 2031 by Key Companies-Toshiba, Sharp, Casio, Dell, Olivetti, Fujitsu, Foxconn Technologies, HP, NCR, Incr Nixdorf
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Timed with the 30th anniversary of PlayStation this week, Sony has released a new update for the PlayStation 5 which lets players customize aspects of the console based on different generations. Players can customize some visual and audio features and UI dashboard by selecting from PS1, PS2, PS3, PS4, standard PS5 or 30th Anniversary themes. The classic PS1’s boot-up screen with the yellow-orange diamond shape can be seen as part of its new start-up sequence. This customisation is said to be for a ‘limited time’ with no clear end date for when Sony will remove them (presumably with the next OS update). Sony has also released a 30th Anniversary ‘Thank You’ video which can be seen below, a screenshot of “Bloodborne” with the word ‘Persistence’ on it has gone viral on social media as many PC users are still clamoring for Sony to announce a remaster/remake and PC port of that classic FromSoftware title. The company has also announced a PlayStation Store sale with multiple games going cheap – some cheaper than their Black Friday deals – to help celebrate three decades of PlayStation. That sale ends December 20th. The releases come as rumors of ‘Midnight Black’ versions of the PlayStation Portal and DualSense Edge controllers emerged the other day – but those have yet to be officially confirmed.
Why your favorite catalogs are smaller this holiday season
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By Ford Turner, Pittsburgh Post-Gazette (TNS) HARRISBURG — Recently elected state lawmakers may be on the new-session payroll this week, but will not be sworn in until early January — a situation that at least one of their number wants to change. Rep. Russ Diamond , R- Lebanon, issued a proposal to colleagues on Sunday in the form of a “co-sponsorship memo” that said he plans to seek a constitutional amendment to make the swearing-in date Dec. 1. Mr. Diamond said there have been “questions and confusion” about when lawmakers can be sworn in. A recent cost-of-living increase pushed lawmakers' base salary to about $110,000, and Mr. Diamond said in his memo that an “idle General Assembly” during December “costs taxpayers at least $2.3 million.” The other part of his logic, he said in an interview, is the effect of a constitutional amendment passed in 2021 that limits a governor-declared disaster emergency declaration to 21 days without an extension by the Legislature. If one occurs this week, Mr. Diamond noted, it would expire well before lawmakers were sworn in. “It is not that we need to be in full swing with a billion bills being heard,” Mr. Diamond said. “We just need to be prepared to act.” Mr. Diamond’s memo is one of many that are likely to be filed in the opening days of the new, two-year legislative session that began for many purposes on Dec. 1. Memos are a way of publicizing and gauging support among colleagues for a concept that may soon afterward be submitted in the form of a bill. Democratic Rep. Bob Merski — whose hometown, Erie, was under a disaster emergency declaration on Monday — said in a phone interview that he disagreed with Mr. Diamond’s logic. Constitutional amendments in Pennsylvania must be approved twice by lawmakers before going before voters. During the February 2021 vote in which the 21-day rule passed the House, Mr. Merski was a “no” vote. “That was done at the height of COVID as a politicization tool,” Mr. Merski said. Referring to the 21-day limit that exists now — when many lawmakers are not sworn in — Mr. Merski said, “You are seeing the results of decisions that were rushed at the height of a pandemic.” Gov. Josh Shapiro on Saturday designated Erie County as being under a disaster emergency declaration as huge amounts of lake-effect snow buried parts of the county. Referring to Mr. Diamond’s statements about lawmakers' activity during December, Mr. Merski pointed out that many attend meetings, set up new offices, deal with constituent matters and do other work during the month. “What has Mr. Diamond done all these years, during December?” Mr. Merski said of the 11th-year lawmaker from Lebanon County. All 203 state representative jobs and half of the 50 state Senate positions were up for election on Nov. 5. The winners will be sworn in in early January. Another Democrat, Rep. Scott Conklin of Centre County, said his chief concern about the proposal was that sometimes a county does not certify election results until after Dec. 1. That would preclude the affected member from being sworn in on Dec. 1, Mr. Conklin said. Nonetheless, he said he liked such “outside the box” proposals that prompt lawmakers to discuss how things are done in Harrisburg. Mr. Diamond introduced a similar bill last session. It failed to advance beyond committee level. “There really wasn’t much conversation about it,” he said. Nonetheless, Mr. Diamond added, “We are a functioning, full-time legislature, and the constitution says we are a ‘continuing body.’ But we can’t be a continuing body if we have five weeks where we can’t do anything.” (c)2024 the Pittsburgh Post-Gazette Visit the Pittsburgh Post-Gazette at www.post-gazette.com Distributed by Tribune Content Agency, LLC. Read more political news Some Democrats frustrated by Joe Biden reversing course and pardoning his son Court loss isn’t the end of fight for stricter gun laws in Pa., advocates say Biden pardons his son Hunter despite previous promises that he would not do so
Ukrainian President Volodymyr Zelensky has suggested that the “hot war” with Russia could end if Kyiv is guaranteed protection under a “NATO umbrella” while the country seeks to regain territories currently controlled by Moscow “diplomatically”. In one of his first major interviews with Western media following Donald Trump’s victory in the U.S. presidential election earlier this month, President Zelensky appeared willing to make concessions to end the conflict nearly three years after the Russian invasion. Although he did not make any firm commitments, Zelensky suggested that the “hot” stage of the conflict between his country and Russia could be brought to an end if the American-led NATO alliance committed to protecting the part of the country currently under Kyiv’s control under a military “umbrella.” “If we want to stop the hot phase of the war, we need to take under the NATO umbrella the territory of Ukraine that we have under our control,” he told Sky News. “We need to do it fast. And then on the [occupied] territory of Ukraine, Ukraine can get them back in a diplomatic way.” Zelesnsky, who continued in the interview to advocate Ukraine joining the NATO alliance, admitted that under such a ceasefire framework, it would not be possible for Ukraine to accept membership as it would mean officially ceding the territory under Russian control to Moscow, which is illegal under Ukraine’s constitution. The British broadcaster noted that it was the “first time” that Zelensky publicly hinted that he was willing to cede territory to Russia for a ceasefire deal, albeit unofficially. Earlier this year, Zelensky proposed a “victory plan” for pushing Russia back from its 1991 borders, which would have included territory in Crimea seized by Moscow during the Obama administration. However, as the war has surpassed 1,000 days, there is growing acknowledgement that Ukrainian forces are incapable of taking back the land by force. The Ukrainian leader’s apparent willingness to end military attempts to regain lost territory and to forgo seeking NATO membership at least temporarily may be a potential framework for an agreement with Vladimir Putin, who has long said that NATO membership for Ukraine would represent a “ red line ” for the Kremlin. While favoured globalist figures, membership in the Western military alliance has also drawn pushback from key European leaders, including German Chancellor Olaf Scholz and Hungarian Prime Minister Viktor Orbán , who expressed concern over admitting a nation in conflict over its borders. Despite NATO allies such as France, Poland, and the UK reportedly considering increasing funding to Ukraine if incoming U.S. President Donald Trump pulls American military aid, Zelensky’s comments perhaps indicate a realisation in Kyiv that it cannot rely on the unstable and unpopular governments in Western Europe and, therefore, must work with Trump to achieve his election promise to end the conflict. Asked by Sky News if he had spoken with the president-elect, Zelensky said: “We had a conversation. It was very warm, good, constructive... It was a very good meeting and it was an important first step... now we have to prepare some meetings.” “I want to work with him directly because there are different voices from people around him. And that’s why we need not to [allow] anybody around to destroy our communication,” he continued. “It will be not helpful and will be destructive. We have to try to find the new model. I want to share with him ideas and I want to hear from him.”Masters’ Union MBA cohort 2024 reports Rs 28.52 lakh average salary; top offers reach Rs 61.8 lakh