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Musk says US is demanding he pay penalty over disclosures of his Twitter stock purchases DETROIT (AP) — Elon Musk says the Securities and Exchange Commission wants him to pay a penalty or face charges involving what he disclosed — or failed to disclose — about his purchases of Twitter stock before he bought the social media platform in 2022. In a letter, Musk’s lawyer Alex Spiro tells the outgoing SEC chairman, Gary Gensler, that the commission’s demand for a monetary payment is a “misguided scheme” that won’t intimidate Musk. The letter also alleges that the commission reopened an investigation this week into Neuralink, Musk’s computer-to-human brain interface company. The SEC has not released the letter. Nor would it comment on it or confirm whether it has issued such a demand to Musk. Senate begins final push to expand Social Security benefits for millions of people WASHINGTON (AP) — The Senate is pushing toward a vote on legislation that would provide full Social Security benefits to millions of people. Senate Majority Leader Chuck Schumer began the process on Thursday for a final vote on the bill, known as the Social Security Fairness Act. It would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people. The legislation has passed the House. The bill would add more strain on the Social Security Trust funds, which are already estimated to be unable to pay out full benefits beginning in 2035. The measure would add an estimated $195 billion to federal deficits over 10 years, according to the Congressional Budget Office. Trump offers support for dockworkers union by saying ports shouldn't install more automated systems WASHINGTON (AP) — President-elect Donald Trump is offering his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports. He posted on social media Thursday that he met with union leaders and that any further “automation” of the ports would harm workers. He wrote that the “amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers.” The International Longshoremen’s Association has until Jan. 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies. The Maritime Alliance says the technology will improve worker safety and strengthen our supply chains, among other things. IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes. The announcement comes under the backdrop of a promised reckoning from Republicans who will hold a majority over both chambers of the next Congress and have long called for rescinding the tens of billions of dollars in funding provided to the agency by Democrats. IRS Commissioner Danny Werfel said improvements made to the agency will help the incoming administration and new Republican majority congress achieve its goals of administering an extension of the 2017 Tax Cuts and Jobs Act. OpenAI's Altman will donate $1 million to Trump's inaugural fund LOS ANGELES (AP) — OpenAI CEO Sam Altman is planning to make a $1 million personal donation to President-Elect Donald Trump’s inauguration fund, joining a number of tech companies and executives who are working to improve their relationships the incoming administration. A spokesperson for OpenAI confirmed the move on Friday. The announcement comes one day after Meta, the parent company of Facebook and Instagram, said it donated $1 million to the same fund. Amazon also said it plans to donate $1 million. China signals it's prepared to double down on support for the economy as Trump tariffs loom BANGKOK (AP) — Chinese leaders met this week to plot economic policy for the coming year and sketched out plans to raise government spending and relax Beijing's monetary policy. Analysts said the broad-brush plans from the annual Central Economic Work Conference were more of a recap of current policy than ambitious new initiatives at a time when the outlook is clouded by the President-elect Donald Trump's threats to sharply raise tariffs once he takes office. The ruling Communist Party did commit to raising China's deficit and to doing more to encourage consumer spending by bringing wage increases in line with the pace of economic growth. Here's a look at China's main priorities and their potential implications. Stock market today: Wall Street slips at the end of a bumpy week Stocks slipped as Wall Street closes out a rare bumpy week. The S&P 500 was down less than 0.1% in afternoon trading Friday and headed for a weekly loss. The benchmark index hit its latest in a string of records a week ago. The Dow Jones Industrial Average fell 25 points. The Nasdaq composite was down less than 0.1%. Broadcom surged after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. Treasury yields edged higher in the bond market. European markets were mostly lower and Asian markets mostly fell. Next Week: Retail sales, Fed policy update, existing home sales The Commerce Department releases its monthly snapshot of U.S. retail sales Tuesday. Federal Reserve officials wrap up a two-day meeting and issue an interest rate policy update Wednesday. The National Association of Realtors issues its latest update on U.S. home sales Thursday. African Union chairperson candidates advocate for permanent UN Security Council seats NAIROBI, Kenya (AP) — Three African leaders seeking to head the African Union have detailed their plans for regional security amid conflicts and political coups while strongly advocating for inter-Africa trade. The race for chairperson debate was held Friday in Ethiopian capital Addis Ababa. Kenya’s Raila Odinga, Djibouti’s Mahamoud Ali Youssouf and Madagascar’s Richard Randriamandrato are seeking to be elected as chairperson for the 55-member state African Union. They had a two-hour debate Friday in which they all advocated for two permanent seats for African countries at the U.N. Security Council to effectively represent the continent with the youngest population. The three are seeking to convince most African countries before the February election to succeed the African Union Chairperson Moussa Faki. From a 10-year-old to a Muppet to a president-elect, NYSE bell-ringers range from famous to obscure The first guest invited to ring the bell at the New York Stock Exchange in 1956 wasn’t a company executive, a politician or a celebrity. It was a 10-year-old boy, Leonard Ross, who received the honor by winning a television quiz show. Since then, business titans, political giants and global film stars have all been among those ringing the opening bell at the NYSE. Ronald Reagan rang the bell as president in 1985. Billionaire businessman and former New York City Mayor Michael Bloomberg and Hollywood star Robert Downey Jr. have also rung the bell. The even list includes famous Muppets: Miss Piggy was once a bell ringer.Javon Leake is staying put. Read this article for free: Already have an account? As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed. Now, more than ever, we need your support. Starting at $14.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website. or call circulation directly at (204) 727-0527. Your pledge helps to ensure we provide the news that matters most to your community! Javon Leake is staying put. Read unlimited articles for free today: Already have an account? Javon Leake is staying put. A CFL source said Friday the veteran running back-returner has agreed to terms on a two-year extension with the Edmonton Elks. Leake was slated to become a free agent in February. Edmonton Elks' Javon Leake (22) escapes a tackle by Calgary Stampeders' Ben Labrosse (29) during first half CFL football action in Calgary, Monday, Sept. 2, 2024.THE CANADIAN PRESS/Jeff McIntosh The source added the deal — which was negotiated by Kenny Kim of Summit Athletes — was worth more than $270,000 in hard money. The source spoke on the condition of anonymity as the Elks hadn’t formally announced the move. The six-foot, 205-pound Leake ran for a career-high 661 yards on 102 carries (6.5-yard average) with six TDs in 15 games this past season, his first with Edmonton. Leake also had two 100-yard rushing contests in 2024 while adding 34 catches for 301 yards and a touchdown. Leake also had 23 punt returns for 214 yards and 25 kickoff returns for 539 yards. Leake joined the Elks as a free agent after spending two seasons with the Toronto Argonauts, winning a Grey Cup with the club in 2022. Leake was used predominantly as a returner with Toronto and was the CFL’s top special-teams player in 2023 after registering 81 punt returns for 1,216 yards and four TDs. He had 38 kickoff returns for 793 yards. Leake had 15 carries for 52 yards over his two seasons with the Argos. This report by The Canadian Press was first published Dec. 13, 2024. AdvertisementAP Business SummaryBrief at 6:36 p.m. EST
Article content OTTAWA — As Canadians find it increasingly difficult to secure a job, feed their families or an affordable place to live, few say they take pride in Canada, a new poll finds. Recommended Videos New numbers from Angus Reid find the number of people who feel “very proud” to be a Canadian has taken a precipitous dive over the past four decades, with just 34% saying they take great pride in their citizenship. That’s compared to 1985, when 78% of respondents reported feeling “very proud” to be a Canadian. “The years since the onset of COVID-19 have been a well-documented period of division and discord in this country, with Canadians expressing concerns about the lack of a ‘middle’ option politically, an unwillingness from governments to work together for the people, weakening compassion and growing space between Canadians,” read the report published online by the Angus Reid institute . According to Environics polls conducted at the time, that number fell from 78% to 71% in 1994. A Carleton University/International Social Survey Programme (ISSP) poll conducted in 2003 found that number had fallen to 68% , falling again in 2016 to 52%, and 34% in 2024. Forty-nine per cent of the 2024 respondents agreed with a statement saying they had a deep emotional attachment to Canada, and that they love the country and what it stands for — a number that fell from 62% in 2016 and 65% in 1991. As well, 37% in 2024 said they have an attachment to Canada, but only as long as it provides a good standard of living — up from 31% in 2016 and 19% in 1991. Eight per cent said they feel no attachment to Canada and would like to see if split up into smaller countries, up from 5% in 2016 but down from 9% in 1991, while those who would like Canada absorbed into the United States sits at 6% — 2% in 2016 and 5% in 1991. These feelings seem consistent across the country. “Quebec is least likely to have downward movement on attachment (-7,) but this is largely due to its starting point, already lowest in the country (37%,)” the report read. “The number of Albertans saying they have a deep emotional attachment has dropped 20 points from 67 to 47% since 2016.” RECOMMENDED VIDEO Politically, respondents who profess support for the federal Conservatives were more likely to say that Canada should join the United States, while those expressing deep, emotional attachment to Canada were more likely to support the federal Liberals. Newer immigrants who’ve been in Canada for under a decade are more likely to say they feel attached to Canada as long as they maintain a good standard of living, a feeling that diminishes the longer they stay here — just over half of new immigrants feel that way, which drops to 45% among those who’ve been here 10 to 20 years, and falls to just 33% for those who’ve been in Canada for over 20 years. The poll was conducted among 4,004 Canadians between Nov. 29 and Dec. 5 via the Angus Reid Forum. Margin-of-error data was not provided. bpassifiume@postmedia.com X: @bryanpassifiume