Asian shares were mixed on Monday after stocks fell broadly on Friday as Wall Street closed out a holiday-shortened week on a down note. U.S. futures were lower while oil prices were little changed. In Asia, South Korea’s Kospi added 0.6% to 2,418.80. But shares of Jeju Air Co. lost 8.8% after one of the company’s jets skidded off a runway , slammed into a concrete fence and burst into flames Sunday in South Korea as its landing gear failed to deploy. 179 people died in the crash. Political turmoil continued as South Korean law enforcement officials requested a court warrant on Monday to detain impeached President Yoon Suk Yeol. They are investigating whether his martial law decree on Dec. 3 amounted to rebellion. Tokyo’s Nikkei 225 index lost 0.9% to 39,914.21 as the dollar gained against the Japanese yen, trading at 157.83 yen, up from 157.75 yen. The Tokyo market will wrap up trading for 2024 with a yearend ceremony as Japan begins its New Year holidays, the biggest festival of the year. The Hang Seng in Hong Kong shed 0.3% to 20,030.63 while the Shanghai Composite index was up 0.3% at 3,408.72. Australia’s S&P/ASX 200 dipped 0.9% to 8,191.50. On Friday, the S&P 500 fell 1.1% to 5,970.84. Roughly 90% of stocks in the benchmark index lost ground, but it managed to hold onto a modest gain of 0.7% for the week. The Dow Jones Industrial Average fell 0.8% to 42,992.21. The tech-heavy Nasdaq composite fell 1.5%, to 19,722.03. The losses were made worse by sharp declines for the Big Tech stocks known as the “Magnificent 7”, which can heavily influence the direction of the market because of their large size. A wide range of retailers also fell. Amazon fell 1.5% and Best Buy slipped 1.5%. The sector is being closely watched for clues on how it performed during the holiday shopping season. The S&P 500 gained nearly 3% over a 3-day stretch before breaking for the Christmas holiday. On Thursday, the index posted a small decline. Despite Friday's drop, the market is moving closer to another standout annual finish . The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998. The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing. A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-than-expected report follows an update on the labor market Thursday that showed unemployment benefits held steady last week. The stream of upbeat economic data and easing inflation helped prompt a reversal in the Federal Reserve's interest rate policy this year. Expectations for interest rate cuts also helped drive market gains. The central bank recently delivered its third cut to interest rates in 2024. Even though inflation has come closer to the central bank's target of 2%, it remains stubbornly above that mark and worries about it heating up again have tempered the forecast for more interest rate cuts. Inflation concerns have added to uncertainties heading into 2025, which include the labor market’s path ahead and shifting economic policies under incoming President Donald Trump. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. In other dealings early Monday, U.S. benchmark crude oil picked up 1 cent to $70.61 per barrel. Brent crude, the international standard, lost 1 cent to $73.78 per barrel. The euro fell to $1.0427 from $1.0433.
WINNIPEG — The Manitoba government is looking to bring in tougher penalties for people who are convicted of impaired driving offences that cause injury or death. A bill introduced in the legislature Thursday would impose a lifetime licence suspension on a driver convicted of two such offences within a 10-year period. That's an increase from the current 10-year suspension. The bill would also prohibit people convicted of these offences from driving with any alcohol in their blood for seven years for a first offence. "The consequences of driving impaired are tragic — for the victims for the families and the survivors," Justice Minister Matt Wiebe said Thursday. "Ten per cent of collisions in Manitoba have impaired driving as a contributing factor, and enough is enough." The bill was introduced on the last day of the fall legislature sitting and is expected to be debated after politicians reconvene March 5. The bill was welcomed by Mothers Against Drunk Driving, known as MADD. "We recognize that there is no one single piece of legislation that will solve impaired driving, and we welcome the government taking steps to deal with those offenders who cause the most serious harm," said Tanya Hansen Pratt, president of MADD Canada. Pratt's mother was killed by an impaired driver. The bill was introduced on the last day of a three-week session that frequently saw tensions rise between the governing New Democrats and Opposition Progressive Conservatives. Tom Lindsey, the legislature Speaker, scolded both sides of the house Thursday for over-the-top heckling and other behaviour. On Thursday, just after proceedings recessed for lunch, New Democrat cabinet minister Tracy Schmidt crossed the floor and confronted the Tories. The Tories accused her of aggressively accosting one member, standing over him and pointing her finger down at him while telling him he should not be in the chamber. "The language that was used, from a minister of the Crown, I've never seen anything like it. It was awful," said Grant Jackson, the Tory education critic. He did not provide details or identify which of his colleagues was confronted by Schmidt. Schmidt, the environment minister who is also temporarily filling in as acting education minister, told reporters she went over to the Tory side because she had heard what she considered a racist comment toward the end of the morning debate. "I walked over to the member ... and said to the member that I felt that his comments were racist and I encouraged him sincerely to apologize," Schmidt told reporters. Schmidt did not say what the comments were or identify the Tory she confronted. "I was immediately surrounded by several male members of their caucus who started shouting at me and telling me to get out of there, and so I got out of there." Mark Wasyliw, an independent legislature member who was kicked out of the NDP caucus earlier this year, posted on social media that an NDP cabinet minister "lost control" and had a "face-to-face rage-filled direct confrontation" with a Tory. There have been other signs in recent weeks that the Tories and NDP are not getting along. The Tories did not support an attempt by the NDP to quickly set up an all-party committee to examine public support for journalism, saying that the NDP idea has many unanswered questions. The New Democrats have not supported a Tory call for an all-party committee on the issue of trade with the United States and tariff threats by president-elect Donald Trump. This report by The Canadian Press was first published Dec. 5, 2024. Steve Lambert, The Canadian Press
By LINDSEY BAHR Do you have a someone in your life who plays Vulture’s Cinematrix game every morning? Or maybe they have the kitchen television turned to Turner Classic Movies all day and make a point of organizing Oscar polls at work? Hate to break it to you: They might be a hard-to-please cinephile. But while you might not want to get into a winless debate over the “Juror No. 2” release or the merits of “Megalopolis” with said person, they don’t have to be hard to buy gifts for. The Associated Press has gathered up some of the best items out there to keep any movie lover stylish and informed. While Christopher Nolan dreams up his next film, fans can tide themselves over by revisiting his modern classic “Interstellar,” which will be back in IMAX theaters on the weekend of Dec. 6, followed by the home release of a new collector’s edition on 4K Ultra HD and Blu-ray ($59.95). A third disc in the set, available Dec. 10, contains more than two hours of bonus content, like a never-before-seen storyboard sequence, and new interviews with Nolan, producer Emma Thomas and famous fans Peter Jackson and Denis Villeneuve . Elaine May does not give interviews anymore. But thankfully that didn’t deter writer Carrie Courogen, who did a remarkable job stitching together the life of one of our culture’s most fascinating, and prickly, talents. “Miss May Does Not Exist” is full of delightful anecdotes about the sharp and satirical comedian who gained fame as one half of Nichols and May and went on to direct films like “The Heartbreak Kid” and “Mikey and Nicky.” Courogen writes about May’s successes, flops and her legendary scuffles with the Hollywood establishment. It’s a vital companion to Mark Harris’ biography of Mike Nichols . Macmillan. $30. The Academy Museum of Motion Pictures has an exclusive new “Matrix” sweatshirt for sale in conjunction with its Cyberpunk exhibition. Brain Dead Studios designed and created several items, including the black hoodie ($140), a white rabbit tee ($54) and a pint glass ($18). If you can’t make it to Los Angeles to check out the “Color in Motion” exhibit for yourself, the Academy Museum also has a beautiful new companion book for sale ($55) charting the development of color technology in film and its impact. It includes photos from films like “The Red Shoes,” “Vertigo,” “2001: A Space Odyssey,” and images of rare prints from the silent era. The Academy Museum Store is having a sale (20% off everything) from Nov. 28 to Dec. 2. Related Articles Things To Do | US airports with worst weather delays during holiday season Things To Do | The right book can inspire the young readers in your life, from picture books to YA novels Things To Do | These holiday gifts change the game when building fires, printing photos, watching birds and more Things To Do | ‘Gladiator II’ review: Are you not moderately entertained? Things To Do | Beer pairings for your holiday feasts Want to look like a real film festival warrior, the kind who sees five movies a day, files a review and still manages to make the late-night karaoke party? You’re going to need the ultimate status tote from the independent streaming service MUBI . Simple, to-the-point and only for people in the know. $25. Film magazines may be an endangered species, but print is not dead at The Metrograph . Manhattan’s coolest movie theater is starting a biannual print publication “for cinephiles and cultural connoisseurs alike.” The first issue’s cover art is by cinematographer Ed Lachman (“Carol”), and contributors include the likes of Daniel Clowes, Ari Aster, Steve Martin and Simon Rex. There’s also a conversation with Clint Eastwood. It’s currently available for pre-order and will be in bookstores Dec. 10 for $25 ($15 for Metrograph members). This is not a book about filmmaking styles, camera angles and leadership choices. It’s literally about what directors wear. “How Directors Dress: On Set, in the Edit, and Down the Red Carpet” ($40) has over 200 archival photos of filmmakers in action: Spike Lee in his basketball caps, Sofia Coppola in her Charvet button-ups, Steven Spielberg’s denim on denim and many more. With a forward by the always elegant Joanna Hogg and writing from some of the top fashion journalists, it’s a beautiful look at how filmmakers really dress for work — and might even be a source of inspiration.
Northrop Grumman Announces New $3 Billion Share Repurchase Authorization