Scotiabank closes US$2.8B acquisition of KeyCorp stake
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NEW YORK (AP) — Stocks fell in morning trading Friday as Wall Street closes out a holiday-shortened week. The S&P 500 fell 1.4%, with more than 80% of stocks in the benchmark index losing ground. Still, the index is managing to hold onto a modest gain for the week. The Dow Jones Industrial Average fell 402 points, or 0.9%, to 42,945 as of 10:41 a.m. Eastern time. The Nasdaq composite fell 2%. Both the Dow and the Nasdaq are also holding on to weekly gains. Technology stocks were the biggest drag on the market Friday. Semiconductor giant Nvidia slumped 3.2%. Its enormous valuation gives it an outsize influence on indexes. Other Big Tech stocks losing ground included Microsoft, with a 2.2% decline. A wide range of retailers also fell. Amazon fell 2.2% and Best Buy slipped 1.9%. The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy was the only sector within the S&P 500 rising. It gained 0.5% as crude oil prices rose 0.8%. Investors don't have much in the way of corporate or economic updates to review as the market moves 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. In Asia, Japan’s benchmark index surged as the yen remained weak against the dollar. Stocks in South Korea fell after the main opposition party voted to impeach the country’s acting leader. Markets in Europe gained ground. Bond yields held relatively steady. The yield on the 10-year Treasury remained at 4.59% from late Thursday. The yield on the two-year Treasury slipped to 4.32% from 4.33% late Thursday. Wall Street will have more economic updates to look forward to next week, including reports on pending home sales and home prices. There will also be reports on U.S. construction spending and snapshots of manufacturing activity.
Former Chelsea defender Jason Cundy insists the 'wheels have come off' at Manchester City after their three-goal implosion on Tuesday night. Pep Guardiola 's side looked to be in cruise control when Erling Haaland scored in the 53rd minute to put City up 3-0 at home against Feyenoord in the Champions League. But in the space of 14 staggering minutes, Feyenoord had equalised thanks to David Hancko in the 89th minute, sending the Etihad into a stunned silence aside from the pocket of travelling fans. Although the 3-3 result snapped a five-game losing streak for City across all competitions, blowing a three-goal lead will have felt like a defeat for Guardiola and his troops. Reacting on talkSPORT's Sports Bar immediately after the contest, Cundy and ex-Tottenham midfielder Jamie O'Hara couldn't believe the capitulation that had just transpired. "It's a stinker, that," O'Hara said. "3-0 up? What are they doing?" Cundy added: "Tonight, wheels have come off. "Look, Spurs were brilliant on the weekend. City were terrible, they got turned over in the Premier League. "3-0 up against Feyenoord with 15 minutes to go? And you draw 3-3? Wheels have come off. That's it." Some fans will point out City look a completely - and not for the better - team without Ballon d'Or winner Rodri in their midfield. However, given Rodri tore his ACL against Arsenal in September, O'Hara wasn't having that excuse any more. "It can't just be about Rodri," O'Hara said. "We've got past that now. There's something going on at Manchester City that no-one seems to have the answer for." Cundy then delivered a brutal dissection of just what had gone wrong for City, with plenty of warning signs presenting themselves during a 4-0 loss to Tottenham last Sunday. "They are so open," Cundy said. "Their press, there is no joined-up thinking. Pep has signed a new deal , which is good for City. "But right now, this is probably going to be his biggest job ever in management to turn this around. They are a mess. "I'm watching Man City against your lot (Tottenham) on the weekend. I'm watching Spurs bop the ball around deep in their own half. Not only that, Spurs get out, there's an overload, three versus one, on the right-hand side. How is that happening? That never happens. "Spurs were magnificent. City, terrible. Watching tonight, they don't look comfortable at 3-0 up. How can that happen? "The wheels have come off tonight, officially. Spurs at the weekend, they were wobbling. Tonight, the wheels have come off." O'Hara noted that with City's dreadful run of form, 'Liverpool must be licking their lips.' As it stands, Premier League leaders Liverpool hold an eight-point advantage over second-placed City. That gap could easily become 11 when Arne Slot's side welcome a battered and bruised City to Anfield on Sunday. If Liverpool can snag three points from that contest, it could lead some to boldly declare City have too much ground to catch up in the race for the Premier League title. Should City lose to Liverpool on Sunday, they may end the weekend as low as fifth given Chelsea, Arsenal and Brighton are all on 22 points. Safe to say, there will be a lot of soul-searching among Guardiola and City's stars before that match as they look to snap a six-game winless streak.Donald Trump has chosen Jared Kushner's father to be the next US ambassador to France. While Trump's son-in-law served a crucial role in his last administration, it's Charles Kushner who will serve the president-elect when he re-enters the White House in January. Charles was Kushner was pardoned by Trump in December 2020 after serving a prison sentence following a conviction on federal charges for tax evasion, witness tampering and illegal campaign contributions. Ukrainian President details single condition that will end war with Russia China to build igloos on the Moon as they look to pull ahead in space race Revealing the news on Truth Social, Trump wrote: "I am pleased to nominate Charles Kushner, of New Jersey, to serve as the U.S. Ambassador to France. He is a tremendous business leader, philanthropist, & dealmaker, who will be a strong advocate representing our Country & its interests. "Charlie is the Founder & Chairman of Kushner Companies, one of the largest & most successful privately held Real Estate firms in the Nation. "He was recognized as New Jersey Entrepreneur of the Year by Ernst & Young, appointed to the U.S. Holocaust Memorial Council, & served as a Commissioner, & Chairman, of the Port Authority of New York & New Jersey, as well as on the Boards of our top institutions, including NYU. "Congratulations to Charlie, his wonderful wife Seryl, their 4 children, & 14 grandchildren. "His son, Jared, worked closely with me in the White House, in particular on Operation Warp Speed, Criminal Justice Reform, & the Abraham Accords. "Together, we will strengthen America’s partnership with France, our oldest Ally, & one of our greatest!" Charles had been prosecuted by then-US Attorney for New Jersey Chris Christie in the early 2000s for tax evasion, witness tampering and illegal campaign contributions. Kushner pleaded guilty to 16 counts of tax evasion, one count of retaliating against a federal witness, his brother-in-law, and another count of lying to the Federal Election Commission. Christie said Kushner committed "one of the most loathsome, disgusting crimes" he had prosecuted. This was in reference to a sordid revenge plot that Charles came up with to target his brother-in-law, William Schulder, a former employee turned witness for federal prosecutors in their case against Kushner. Kushner hired a prostitute to lure Schulder into having sex in a New Jersey motel room, then sent the hidden camera footage to Kushner’s sister and Schulder’s wife, Esther. It remains to be seen where Ivanka and Jared will live once her father gets back in the White House, as the pair have taken back seat roles. After enjoying life with her husband in Miami, Ivanka is allegedly in no rush to head back to 1600 Pennsylvania Avenue, despite her father's presidential win, making it the second time that the 43-year-old would be gearing up to be the First Daughter. The pair moved to Florida after a tumultuous few years in Washington, D.C., where they both worked as advisers in Trump’s 2017 to 2020 administration. Ivanka and Jared now live with their three children on Indian Creek Island , dubbed the “Billionaire’s Bunker,” where their neighbors include the likes of Tom Brady and Amazon founder Jeff Bezos and his fiancée, Lauren Sanchez. A Miami society source told PageSix that Ivanka "is proud of her father and loves him, but his last presidency took its toll." The insider clarified: "There were friends who turned their back on Ivanka and Jared because of Donald, and that was hurtful. “Now she has a great life, her thoughts are she does not need to be working in the White House to make a difference.” She may not be planning on taking meetings in the West Wing, but Ivanka is looking forward to still having an impact on public life following her dad's re-election. The source suggested that the nation could possibly "see Ivanka work with tech leaders and talk about child safety on the internet, as well as her concerns about child trafficking."
Pep Guardiola: If I can’t reverse Manchester City slide then I have to goPrudent fiscal management, strategic reforms paving way for economic growth: report
It has been 24 years since Rye Cove won its only region title in football. Bill Houseright led the Eagles to that crown in 2000. "It has been a quite a while," said Houseright, who coached at Rye Cove in 2000-01, directing the Eagles to the Region 1D crown with a 20-14 overtime victory over Appalachia. "Sometimes you have got to have things come together, you have to have your people come together and you get a chance to do that." An opportunity for a second regional title will come on Friday when the Gary Collier-coached Eagles hosts Cumberland District foe Eastside at the Eagles' Nest. "I think they have got a good coaching staff and they have got some good players," said Houseright, whose 2000 squad was honored during the regular-season contest with Eastside. "It was nice. It was very nice, it was a good get-together," he said. "There were a lot of people that I hadn’t seen in a long time. It was enjoyable." It has been an enjoyable season for Rye Cove (12-0), with its first 10-win regular season and first-ever 12-win campaign, which was one better than last years's 11-win season that ended with a 28-18 loss to Honaker in the Region 1D finals. The goal all season has been to get back to that point and win it this time. Houseright, who won state titles at Gate City as a player (1970), defensive coordinator (1997) and head coach (2010), thinks the Eagles have what it takes to make it happen. "I think their physicalness up front has been a key for them and being able to move the ball," he said. "They have got a couple of kids that can run and do some things. They have some stoppers behind the line on defense so there is quite a bit. They are pretty cohesive, they are doing a lot of things right." Rye Cove was doing the same when it counted most in 2000. Led by such athletes as quarterback Travis Petelle, running back Eric McPherson and lineman Matt Rhoton, the Eagles endured a three-losing skid after a 2-0 start, but finished the regular season with a 6-4 record. "As we got down toward the end of the year I just think we started to jell and come together and understand our assignments and what we were doing better," Houseright said. "We had some people, they would get after you. It is just being consistent and playing as a unit. I think that is what we were able to accomplish." One of those regular-season setbacks had been a 42-20 loss to St. Paul. A rematch followed in the opening round of the regionals, with the Eagles traveling to face the Deacons — who were coached by B.I. Salyers, who is currently the defensive coordinator at Rye Cove. The Eagles got the win, 24-6, earning a regional title contest against Southwest Virginia powerhouse Appalachia, which was led by Tom Turner, who directed the Bulldogs to five state titles from 1989-97. "Tom has always been an unbelievable coach. When it comes down to business Tom was always on task," said Houseright, who played at Virginia Tech with Turner. "He was a heck of a coach. I have known Tom ever since we were in Blacksburg together. We were just very fortunate to go over there and get a win because he always got his teams prepared well too." While the details are hazy to Houseright after all these years, the Eagles were able to go to Riggs Stadium and leave with a thrilling overtime victory. "It has been so long ago. I just can’t tell you a whole lot about it," he said. "I know we had some kids that made some plays, which you have got to do in those kind of games. I am sure that anybody that has ever been in there knows that you have to do that." While Rye Cove lost the following week in the Class 1 semifinals in a third straight road game at Bath County, 42-18, it was certainly an accomplishment that former Emory & Henry quarterback Collier can appreciate, having served as an assistant under Houseright at Gate City. "I just know what they achieved and their accomplishments and I know Coach Houseright well," Collier said. "I coached with him at Gate City and know he is a great coach. It don’t surprise me that is when it happened." Houseright sees parallels between those Eagles and the current batch of Eagles looking to bring another region crown to Clinchport. "I had a good bunch, I really did. They played extremely hard. We made a lot of mistakes early on and we got better as the season went on," Houseright said. "I am sure this bunch here, they have been playing together now for two or three years. They did pretty good too. That is just the progress of building to get where they need to go. They have got some good coaches. They are doing well, the kids are excited about what they are doing and that is important." Much like Rye Cove, Eastside is also looking for school history, a first-ever region crown on the gridiron. When these clubs met in October, the Eagles won 40-8, but it was 16-8 with seven minutes to go before the Eagles broke it open. Houseright, who has friends on both coaching staffs, expects the rematch to live up to the billing. "I am sure this bunch that Rye Cove will be playing this week will be prepared for them," he said. "You have got to go out and make plays and you can’t kill yourself. Penalties and turnovers will put you in a bind. You have got to be disciplined enough not to get into that situation." Houseright knows what it took for Rye Cove to win that elusive region title in 2000. Twenty-four years later and that hasn't changed. "I think the key to any of that is just everybody pulling for one another and having your buddy's back and then being disciplined, not turn the ball over and not to have crazy penalties and go play your tails off," he said. "That is the key and try to be solid in all phases. "I think they are motivated and when you get that going you have got a good thing going. Plus, daggone, the community is really behind them and that is a great thing."
Stock market today: Wall Street slips as technology stocks drag on the marketGlobal surface temperatures reached record levels in 2024 as the impacts of climate change are being felt around the world. All countries, no matter their development status, are affected by climate change. For example, this month has seen floods in Valencia, Spain, claiming more than 200 lives, and flooding in Colombia causing a state of emergency affecting over 200,000 people. In China, the rated precipitation in the first three quarters of this year was 10.5 percent higher than in the same period of a normal year, with extreme rainfall, and sudden and frequent floods and climate-related disasters resulting in a large number of casualties, relocation of people and economic losses. Multilateral talks at the Conference of Parties to the United Nations Framework Convention on Climate Change (COP29) in Baku, Azerbaijan, have delivered some progress, especially on climate finance. The just-concluded Baku conference was “finance COP” where a new goal for climate finance was negotiated. According to the deal, developed countries have promised to contribute $300 billion as climate finance per year by 2035. Though it was far short of the trillion dollars sought by the least- and less-developed countries, it was a hard-won achievement for developing countries. For the first time the total climate finance includes a possible voluntary contribution from China, which acknowledges its position both as a major economy and a major investor in green technology in developing countries. The participating countries also agreed to the rules of the carbon market, which should boost market-oriented cooperation on climate and enable businesses to support the recovery of nature and promotion of carbon removal technologies in other countries. However, there was less progress on climate mitigation aspects. At the COP28 in Dubai, the United Arab Emirates, last year, the participating countries agreed to triple renewable energy capacity by 2030 and transition away from fossil fuels. Yet it was difficult to reach a consensus on the mitigation work program which would continue this progress in Baku, with the participating countries eventually deciding to revisit the issue next year and continue talking meanwhile. The slow progress on multilateral issues means there is increasing focus on bilateral, sub-national and country-group dialogues that can offer ways to further progress. Amid rising political tensions worldwide, strong bilateral cooperation between the United Kingdom and China can provide the international leadership needed to boost the fight against climate change this decade. During the COP29 talks in Baku, British and Chinese leaders met at the G20 Summit in Rio de Janeiro, Brazil, and agreed to cooperate on areas such as clean energy and climate change as part of their efforts to address shared global challenges. Following this meeting, and to support both multilateral and bilateral cooperation, we propose that our expert climate change committees advance our interactions. Our committees have different mandates and institutional structures. Nevertheless, we can collaborate effectively to better advise our countries on how to decarbonize and achieve green transition in a way that creates jobs and boosts the economy. The UK climate committee recently advised the UK government on its 2035 Nationally Determined Contribution, while the Chinese climate committee is advising the Chinese government on how to achieve its dual carbon goals and minimize climate risks, as well as support the international climate negotiations. Both countries could reach a broader and more practical consensus with support from their respective climate committees. Supported by the UK’s Foreign, Commonwealth and Development Office, China’s Ministry of Ecology and Environment and Chatham House, the UK climate science community and policy experts have been collaborating since 2013 in order to better understand the risks posed by climate change, and the policies needed to improve resilience against climate change. In the last two years, this collaboration has deepened. The two countries’ climate committees have jointly explored how to provide constructive advice to our governments across a range of agreed issues of common interest and relevance to our respective national context. We, hereby, propose that our expert committees advance the interaction within their current institutional structures to help us better advise our respective governments. There is a need to support our countries’ efforts to decarbonize their energy supply while ensuring energy security. Both countries have ambitious plans to increase renewable energy generation and our committees can support this effort through their work. The committees can further deepen their collaboration on evaluating climate risks, especially in urban and regional areas, and river basins. We also need to better understand and link climate governance with nature governance. Piers Forster, interim chair of the UK Climate Change Committee, presented the results from the London Climate Resilience Review at two China-led events on the sidelines of COP29, and the UK climate committee is preparing a report on how well can the UK adapt to climate change. As an expert in the Chinese delegation, Wang Yi, vice-chair of China Expert Panel on Climate Change, was invited to the “China Pavilion” on the sidelines the official events of the UNFCCC, and various events organised by the business communities and social organisations at COP29, to speak on the progress of the climate conference, share China’s experience in energy transition, and policies to address climate change and overcome common challenges. Experts and scholars from the UK and China, who have been engaged in cooperation and have attended several UN climate change conferences, shared their research findings and assessment of climate risk assessment, asserting the need to link climate governance with nature management. And by deepening their cooperation, they can improve our climate risk assessments and response. In order to build a greener, more climate-resilient and inclusive sustainable society, the UK and China should take full advantage of their successful climate cooperation over the past decade to further deepen our cooperation. The two countries could also consider issuing a joint statement to promote the multilateral climate agenda. And workstreams could be set up with focus on clean energy transition, co-governance of climate and nature, reducing climate risks, strengthening climate-resilience, green finance to work together with other countries to promote the green transition in an equitable, just and orderly manner, and facilitate sustainable economic development. We look forward to the UK and China formally submitting comprehensive and strong NDCs for 2035. By progressing toward these targets, the two sides can set an example for the rest of the world to follow.
MUNICH (AP) — Bayern Munich fans protested against Paris Saint-Germain president Nasser Al-Khelaifi during the teams’ Champions League match on Tuesday. The supporters in Bayern's stadium's Südkurve held up several banners making clear their opposition to the Qatari businessman during the first half of Bayern's 1-0 win. One banner showed Al-Khelaifi’s face with a line over it, another accused him of being “plutocratic” with an expletive, and more banners read: “Minister, club owner, TV rights holder, UEFA ExCo member & ECA chairman all in one?” The 51-year-old Al-Khelaifi is unpopular among the Bayern fans for his influence on European soccer as chairman of the European Club Association, Qatar Sports Investments — the owner of PSG — and the Qatari state-owned beIN media group. He also joined UEFA’s executive committee in 2019. Al-Khelaifi has long drawn scrutiny for apparent conflicts of interest because of his various roles. The ECA has a big influence on shaping the Champions League's playing format and commercial strategy, while beIN is one of the competition's major broadcast partners. In 2022, UEFA left Al-Khelaifi unpunished despite finding PSG guilty of misconduct for confrontations with match officials after losing in the Champions League. There were heated scenes involving Al-Khelaifi and then-PSG sporting director Leonardo after a defeat to Real Madrid. UEFA sanctioned Leonardo but did not cite Al-Khelaifi in its disciplinary statement, nor did it say why. Al-Khelaifi, a former tennis professional, is a longtime friend of Qatar’s ruling emir, Sheikh Tamim bin Hamad Al Thani , an International Olympic Committee member who is influential in global sports. Bayern fans had long protested against their own club’s sponsorship deals with Qatar, which was accused of human rights abuses before it hosted the 2022 World Cup. The fans eventually got their way last year when Bayern’s long-running sponsorship deal with Qatar Airways was not renewed. The Sueddeutsche Zeitung newspaper reported at the time that the decision came from Qatar. Sheikh Tamim was reportedly unhappy with the Bayern fans’ constant criticism and the club’s failure to distance itself from their protests. Kim Min-jae’s first-half header was enough for Bayern's victory, its seventh straight without conceding across all competitions. PSG forward Ousmane Dembelé was sent off early in the second half. AP soccer: https://apnews.com/hub/soccer
White House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaignThe unnamed dead of Honolulu may be revealed through DNA testingPep Guardiola has pledged to step aside if he fails to turn around Manchester City’s poor run of form. The City boss is enduring the worst run of his glittering managerial career after a six-game winless streak featuring five successive defeats and a calamitous 3-3 draw in a match his side had led 3-0. The 53-year-old, who has won 18 trophies since taking charge at the Etihad Stadium in 2016, signed a contract extension through to the summer of 2027 just over a week ago. Yet, despite his remarkable successes, he still considers himself vulnerable to the sack and has pleaded with the club to keep faith. “I don’t want to stay in the place if I feel like I’m a problem,” said the Spaniard, who watched in obvious frustration as City conceded three times in the last 15 minutes in a dramatic capitulation against Feyenoord in midweek. “I don’t want to stay here just because the contract is there. “My chairman knows it. I said to him, ‘Give me the chance to try come back’, and especially when everybody comes back (from injury) and see what happens. “After, if I’m not able to do it, we have to change because, of course, (the past) nine years are dead. “More than ever I ask to my hierarchy, give me the chance. “Will it be easy for me now? No. I have the feeling that still I have a job to do and I want to do it.” City have been hampered by a raft of injuries this term, most pertinently to midfield talisman and Ballon d’Or winner Rodri. The Euro 2024 winner is expected to miss the remainder of the season and his absence has been keenly felt over the past two months. Playmaker Kevin De Bruyne has also not started a match since September. The pressure continues to build with champions City facing a crucial trip to title rivals and Premier League leaders Liverpool on Sunday. Defeat would leave City trailing Arne Slot’s side by 11 points. “I don’t enjoy it at all, I don’t like it,” said Guardiola of his side’s current situation. “I sleep not as good as I slept when I won every game. “The sound, the smell, the perfume is not good enough right now. “But I’m the same person who won the four Premier Leagues in a row. I was happier because I ate better, lived better, but I was not thinking differently from who I am.” Guardiola is confident his side will not stop battling as they bid to get back on track. He said: “The people say, ‘Yeah, it’s the end of that’. Maybe, but we are in November. We will see what happens until the end. “What can you do? Cry for that? You don’t stay long – many, many years without fighting. That is what you try to look for, this is the best (way). “Why should we not believe? Why should it not happen with us?”
Norwegian Cruise Line Holdings Ltd. stock rises Tuesday, still underperforms market
Ogun State Governor, Prince Dapo Abiodun has lauded the Federal Government for approving the construction of the Nigeria Customs facilities in the State, adding that with the provision of infrastructure by his administration, the State would continue to be the industrial hub of the country. The Governor also disclosed that the Special Agro-Processing Zone at the Gateway International Agro-cargo Airport would be ready by the third quarter of next year. According to him, the airport which would be equipped with the latest equipment in the aviation industry, would turn out to be the best in the world. Speaking at the 38th Akesan Day celebration held at the Apostolic Church Grammar School, Iperu, Ikenne Local Government Area, Prince Abiodun noted that that corridor of the State would play a significant role in the nation’s quest for industrial revolution. He said: “We have the airport, the first truly Agricultural Processing Zone which is one of the six zones approved by the Federal Government across the the states. That zone will be completed in the third quarter of 2025.” The governor noted that his administration would embark on people-oriented projects to open up the State for more investment opportunities and access. “We will ensure that we are defined by people-oriented policies, programmes and projects. We will work till the end of our tenure in 2027,” he added. He said the Akesan Day was an opportunity for all sons and daughters of the community to come together to foster unity and to celebrate the deep culture and traditions of the town. The governor while noting the development strides the town has made in recent years, promised to provide the town with the needed infrastructure for more development. The National Chairman of the All Progressives Congress (APC), Dr Abdullahi Ganduje, described Governor Abiodun as a living historian who is working to leave lasting legacies in the State. “I have seen well-constructed road networks with concrete drainages. The governor’s nitch for infrastructural facilities is well documented. The governor is concerned about the progress of this town and the welfare of the people. I want to commend him for this,” he said. Also speaking, the Senate Leader, Senator Opeyemi Bamidele, who represented the Senate President, Senator Godswill Akpabio, noted that despite the governor’s performance in his first term, he is even working harder, a development which means his seriousness for governance. Bamidele: “We are happy that he is leaving legacies that will stand the test of time. He has told us about some of the moves he is making to turn Ogun State into the modern-day commercial hub.” The occasion, which featured cultural displays, attracted about 50 senators, members of the House of Representatives, traditional rulers, political bigwigs, among others.