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Trump vows to block Japanese steelmaker from buying US Steel, pledges tax incentives and tariffs
OTTAWA - Canada has again breached its years-long policy and voted in support of a United Nations motion critical of Israel, based on concerns about the viability of a two-state solution. “The dynamics in the broader region show very clearly that conflict management, as opposed to genuine conflict resolution, is not in fact a sustainable path to peace, security and prosperity,” Canada’s ambassador to the United Nations, Bob Rae, told a UN plenary Tuesday. For years, Canada backed Israel in votes at the international body, but the federal Liberals changed that policy a year ago, citing concerns over policies that undermine Ottawa’s decades-long policy of advocating for an eventual Palestinian country that would exist in peace alongside Israel. That change also came amid widespread concern from humanitarian groups and legal experts about Israel’s compliance with international humanitarian law in its campaign in the Gaza Strip. UN member states passed a motion 157 to 8, with seven abstentions, reaffirming the illegality of Israeli settlements in occupied Palestinian territories and condemning the use of force against Palestinian civilians. The motion passed Tuesday also calls for a peace conference, and is similar to motions brought before the UN multiple times. It called out “terror against civilians on all sides” but did not name Hamas or any Palestinian militant group, drawing criticism from Israel advocates. Rae said the motion should have been more balanced, but Ottawa wanted to signal its concern about the viability of a Palestinian state. “We voted in favour of this resolution, like many, many others (did) to signal our firm commitment to the two-state solution,” he said. Rae reiterated condemnation of the October 2023 attack by Hamas against Israel, and called for the return of all hostages including the body of Canadian citizen Judih Weinstein Haggai. “All Palestinians deserve to be led by a legitimate and representative government without the participation of a terrorist organization such as Hamas,” Rae told the UN plenary. Conservative foreign affairs critic Michael Chong decried today’s vote as singling out Israel, writing on the platform X that supporting the motion would “reverse Canada’s long-standing position on Israel.” He said that a Conservative government would be “ensuring alignment with our closest democratic allies.” Tuesday’s vote was supported by the U.K., Japan and most European Union states. The Centre for Israel and Jewish Affairs says the Liberals had voted against similar motions for almost a decade. “Today’s reversal to vote yes instead represents an abandonment of Canada’s long-standing, principled foreign policy,” the group wrote on X. This report by The Canadian Press was first published Dec. 3, 2024.Stocks closed higher on Wall Street as the market posted its fifth straight gain and the Dow Jones Industrial Average notched another record high. The S&P 500 rose 0.3%. The benchmark index’s 1.7% gain for the week erased most of its loss from last week. The Dow rose 1% as it nudged past its most recent high set last week, and the Nasdaq composite rose 0.2%. Markets have been volatile over the last few weeks, losing ground in the runup to elections in November, then surging following Donald Trump’s victory, before falling again. The S&P 500 has been steadily rising throughout this week to within close range of its record. It’s now within about 0.5% of its all-time high set last week. “Overall, market behavior has normalized following an intense few weeks,” said Mark Hackett, chief of investment research at Nationwide, in a statement. Several retailers jumped after giving Wall Street encouraging financial updates. Gap soared 12.8% after handily beating analysts’ third-quarter earnings and revenue expectations, while raising its own revenue forecast for the year. Discount retailer Ross Stores rose 2.2% after raising its earnings forecast for the year. EchoStar fell 2.8% after DirecTV called off its purchase of that company’s Dish Network unit. Smaller company stocks had some of the biggest gains. The Russell 2000 index rose 1.8%. A majority of stocks in the S&P 500 gained ground, but those gains were kept in check by slumps for several big technology companies. Nvidia fell 3.2%. Its pricey valuation makes it among the heaviest influences on whether the broader market gains or loses ground. The company has grown into a nearly $3.6 trillion behemoth because of demand for its chips used in artificial-intelligence technology. Intuit, which makes TurboTax and other accounting software, fell 5.7%. It gave investors a quarterly earnings forecast that fell short of analysts’ expectations. Facebook owner Meta Platforms fell 0.7% following a decision by the Supreme Court to allow a multibillion-dollar class action investors’ lawsuit to proceed against the company. It stems from the privacy scandal involving the Cambridge Analytica political consulting firm. All told, the S&P 500 rose 20.63 points to 5,969.34. The Dow climbed 426.16 points to 44,296.51, and the Nasdaq picked up 42.65 points to close at 2,406.67. European markets closed mostly higher and Asian markets ended mixed. Crude oil prices rose. Treasury yields held relatively steady in the bond market. The yield on the 10-year Treasury fell to 4.41% from 4.42% late Thursday. In the crypto market, bitcoin hovered around $99,000, according to CoinDesk. It has more than doubled this year and first surpassed the $99,000 level on Thursday. Retailers remained a big focus for investors this week amid close scrutiny on consumer spending habits headed into the holiday shopping season. Walmart, the nation’s largest retailer, reported a quarter of strong sales and gave investors an encouraging financial forecast. Target, though, reported weaker earnings than analysts’ expected and its forecast disappointed Wall Street. Consumer spending has fueled economic growth, despite a persistent squeeze from inflation and high borrowing costs. Inflation has been easing and the Federal Reserve has started trimming its benchmark interest rates. That is likely to help relieve pressure on consumers, but any major shift in spending could prompt the Fed to reassess its path ahead on interest rates. Also, any big reversals on the rate of inflation could curtail spending. Consumer sentiment remains strong, according to the University of Michigan’s consumer sentiment index. It revised its latest figure for November to 71.8 from an initial reading of 73 earlier this month, though economists expected a slight increase. It’s still up from 70.5 in October. The survey also showed that consumers’ inflation expectations for the year ahead fell slightly to 2.6%, which is the lowest reading since December of 2020. Wall Street will get another update on how consumers feel when the business group The Conference Board releases its monthly consumer confidence survey on Tuesday. A key inflation update will come on Wednesday when the U.S. releases its October personal consumption expenditures index. The PCE is the Fed’s preferred measure of inflation and this will be the last PCE reading prior to the central bank’s meeting in December.
OTTAWA — The RCMP will create a new aerial intelligence task force to provide round-the-clock surveillance of Canada's border using helicopters, drones and surveillance towers. The move is part of the federal government's $1.3-billion upgrade to border security and monitoring to appease concerns of U.S. president-elect Donald Trump about the flow of migrants and illegal drugs. Trump has threatened to impose a 25 per cent tariff on all Canadian and Mexican exports to the U.S. as soon as he is inaugurated next month unless both countries move to improve border security. Public Safety Minister Dominic LeBlanc says he has discussed parts of the plan with American officials and that he is optimistic about its reception. Canada will also propose to the United States to create a North American "joint strike force" to target organized crime groups that work across borders. The government also intends to provide new technology, tools and resources to the Canada Border Services Agency to seek out fentanyl using chemical detection, artificial intelligence and canine teams. This report by The Canadian Press was first published Dec. 17, 2024. Jim Bronskill, The Canadian Press
Top German newspaper editor quits over Musk op-edT.Johnson 10-30 0-2 21, Bratcher 5-15 0-0 10, Corrigan 0-1 0-0 0, Newman 5-15 9-12 19, Joppy 0-1 0-0 0, Crews 0-4 0-0 0. Totals 20-66 9-14 50. Davis 4-9 0-0 9, Henry 3-4 4-6 10, Atwell 6-14 4-4 21, Giles 4-10 0-0 12, Polite 4-7 2-2 12, Ahemed 3-5 0-0 7, Breath 3-6 2-5 8, Jones 0-0 0-0 0, Reath 5-6 0-0 10, Saizonou 2-7 2-2 7, Kauzonas 3-4 0-0 6, Webb 0-0 0-0 0, Bailey 1-2 0-0 3. Totals 38-74 14-19 105. Halftime_UNC-Greensboro 56-26. 3-Point Goals_Va.-Lynchburg 1-12 (T.Johnson 1-5, Corrigan 0-1, Crews 0-1, Joppy 0-1, Newman 0-1, Bratcher 0-3), UNC-Greensboro 15-38 (Atwell 5-10, Giles 4-9, Polite 2-5, Bailey 1-2, Ahemed 1-3, Davis 1-4, Saizonou 1-4, Reath 0-1). Rebounds_Va.-Lynchburg 24 (T.Johnson 10), UNC-Greensboro 52 (Davis, Henry, Reath 7). Assists_Va.-Lynchburg 4 (Bratcher 3), UNC-Greensboro 29 (Polite 7). Total Fouls_Va.-Lynchburg 15, UNC-Greensboro 11. A_462 (23,500).
Walmart is testing body cameras for some front-line employees in TexasKiama Council has overcharged developers $1.5 million and will have to repay some of it - with interest. Subscribe now for unlimited access . Login or signup to continue reading And developers, and not the council, will have to do the work to claim that refund. In Tuesday night's council papers , it identified that the council had overcharged for developer contributions, with one project - a 39-home development in Kiama Downs - overcharged by $464,000. Developer contributions are amounts paid by a developer of a project to help to pay for associated infrastructure such as parks, roads and footpaths. The business papers stated the overcharging occurred on 20 applications determined between July 2022 and June 2023, when the problem was identified. The papers stated that no developments requiring developer contributions were approved since that time and the calculator has been updated. However, the papers suggested more overcharges could surface; one of the points in the staff recommendation is to use the guidelines in the report "to any other applications or payments found to be calculated using the same calculator". The council will not have to repay the full $1.5 million as the miscalculated contributions on eight of the developments had not yet been paid. The total amount of the repayments would be $623,000, with the council staff recommending 5 per cent interest, calculated monthly, is added to that. The overcharging occurred due to a software problem. The contributions had to be manually calculated via a spreadsheet as the system used for planning applications and contributions did not have that functionality. "The contributions calculator was updated in July 2022 and the formula to calculate indexation on the contribution amounts changed which resulted in an overcharge," the council papers stated. While the council will inform the affected people of the overcharging it will be up to the developers to get their refund. They will need to apply to amend the development consent via the NSW government Planning Portal; that would normally attract charges from both the council and the government. The council will waive its modification lodgement fees, but the portal lodgement fee will need to be paid to the state government. "It is acknowledged that this matter has negatively affected several customers and has been a cause of stress and concern as well as financial burden," the council papers stated. "It is also acknowledged that the process of rectifying the issue will further create a burden for the customer as they will be required to modify the approval and/or submit a refund request." If a landowner at the time of the development approval or contribution payment has has since sold the property, any modification of the approval or refund will need to be requested and paid to the new landowner. The council papers stated this was "because a development approval 'runs with the land'." I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading. I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading. More from Latest News Newsletters & Alerts DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Get the latest property and development news here. WEEKLY Find out what's happening in local business. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!
Increasing Automotive Demand: A Key Driver Transforming The Automotive Ethernet Market 2024
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Supreme Court steps into fight over FCC’s $8 billion subsidies for internet and phone servicesAuthored by Naveen Athrappully via The Epoch Times, Big Lots finalized a deal that preserved the brand name and prevented the discount retail chain from entirely going under. Ohio-based Big Lots announced it filed for Chapter 11 bankruptcy earlier this year, citing economic pressures. The company tried to sell its business to Nexus Capital Management but failed to strike a deal. On Dec. 27, Big Lots announced a sales transaction with Gordon Brothers Retail Partners. As part of the agreement, North Carolina-based Variety Wholesalers will acquire around 200 to 400 Big Lots stores “which it plans to operate under the Big Lots brand.” Variety, which owns more than 400 retail stores in the Southeast and Mid-Atlantic United States, may also “employ Big Lots associates at the acquired stores and distribution centers, as well as certain corporate associates.” Bruce Thorn, chief executive officer of Big Lots, said the sale to Gordon Brothers and transfer to Variety is a “favorable and significant achievement.” “This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate, and ensure continuity of the Big Lots brand,” he said. The agreement now needs to be approved by the bankruptcy court and must undergo other closing conditions. Big Lots operates more than 1,400 stores across 48 states in the United States. While filing for bankruptcy, the company cited issues like inflation, saying that rising prices have changed the spending behaviors of customers. “The prevailing economic trends have been particularly challenging to Big Lots, as its core customers curbed their discretionary spending on the home and seasonal product categories that represent a significant portion of the company’s revenue,” it said in September. Big Lots listed assets and liabilities in the range of $1 billion to $10 billion, owing money to 5,001 to 10,000 creditors. The company’s shares have crashed by more than 99 percent this year. Last week, the company said it intends to kick off a “going out of business” sale at its stores. Multiple American retail chains have entered bankruptcy over the past year. In June, apparel retailer Bob’s Stores went bankrupt and decided to sell all its stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island. In July, furniture retailer Conn’s announced filing for bankruptcy, closing down all its 553 stores nationwide following a sales slowdown over past years. New Jersey-based Party City filed for Chapter 11 bankruptcy in December, and said it was preparing to close down almost 700 stores across the country. This was the second time in two years that the company filed for bankruptcy. According to an S&P report , there have been 634 U.S. corporate bankruptcy filings in 2024, up to the end of November, with the figure on track to potentially hit a new 14-year annual high. S&P bankruptcy numbers only take into account large companies that exceed certain asset and liability thresholds. The jump in bankruptcies comes as businesses face challenges like inflation, elevated interest rates, and changing consumer spending patterns, it said. “While the US Federal Reserve has begun lowering its benchmark interest rate from a 20-year high, the pace of further cuts may slow in 2025 amid challenges posed by persistent inflation and potential tariffs implemented by President-elect Donald Trump,” said the report. “However, Trump’s election victory in November did provide an initial boost to stock markets and investor risk appetite.” The American Bankruptcy Institute reveals that overall commercial bankruptcy filings fell 1 percent yearly in November, according to a Dec. 4 statement . Michael Hunter, vice president of bankruptcy filing data provider Epiq AACER, attributed this small decline to fewer business days and the holiday season. ABI Executive Director Amy Quackenboss said that “elevated interest rates, tougher lending terms, and increased geopolitical tensions continue to impact the balance sheets of many struggling businesses and families.” “While still below the levels recorded prior to the pandemic, the steady growth in filings reflects the growing financial challenges faced by distressed companies and consumers.”