During his first term, President-elect Donald Trump sought to put TikTok out of business. Four years later, he is vowing to save the viral video app as it quickly approaches a January deadline that could have the service banned in the U.S. While TikTok finds itself in a thorny spot in Washington, one possible way out is being increasingly discussed by longtime TikTok watchers: Trump extending the app's January divest-or-be-banned date and then leaning into his dealmaker image by attempting to broker a agreement for TikTok to be sold off. But according to analysts who study TikTok's battle with Washington, both the Chinese government and TikTok's Beijing-based owner ByteDance could be warming up to the idea of TikTok becoming majority-owned by an American company, or a group of U.S. investors. Experts told NPR that if China can extract some tariff concessions alongside a possible TikTok deal, officials there could become more receptive to a sale, something Beijing has long resisted. From TikTok crackdown to TikTok savior In his first term, Trump signed executive orders aimed at shutting down TikTok on national security grounds over its ties to China, but those efforts were blocked by federal courts. Now, Trump has changed his tune. Trump started telegraphing his about-face on TikTok back in March. In one post on his social media platform Truth Social, Trump wrote that outlawing the Chinese-owned video-streaming app would be a gift to Meta's Facebook. He called Facebook "a true Enemy of the People!" for "cheating" in the last election — a claim that has not been proven. Then in June, Trump's campaign joined TikTok in an apparent effort to connect with younger voters. Multiple reports have tied Trump's change of heart on TikTok to an effort to court billionaire Republican donor Jeff Yass, whose investment company, Susquehanna International Group, has a large stake in ByteDance , TikTok's Beijing-based owner. While Yass never publicly endorsed Trump, he funneled millions into groups including the super PAC Club for Growth that backed conservative policies in the 2024 election. A request for comment attempting to reach Yass through Susquehanna International Group was not returned. The Trump transition team did not return a request for comment about Yass, nor about any potential TikTok sale. In a March interview with CNBC, Trump said Yass had not brought up TikTok with him. A spokesman for TikTok referred NPR to a legal filing in its pending case against the Biden administration arguing that fully divesting from ByteDance is "not commercial, not technically, not legally" possible. Current and former members of the intelligence community in Washington view the Chinese Communist Party's potential influence over TikTok as a national security risk. "As long as TikTok is controlled by an entity under the jurisdiction of the CCP, it's not great for Americans," said Megan Stifel, the former director of international cyber policy on the National Security Council under President Obama. "TikTok should be viewed in terms of how it can be leveraged for untoward intentions and part of a broader canvass of data the CCP is constantly collecting." All eyes on outcome of TikTok legal battle over its fate ByteDance's ownership of TikTok has led to a bipartisan movement against it, with lawmakers and national security officials fearful that China could one day use the app to spread disinformation or to conduct mass surveillance. A federal law Congress passed in April stipulates that TikTok be banned by Jan. 19 unless ByteDance fully divests from it. The next day, Trump is set to be sworn into office. The ban, however, is not expected to take effect instantly. The law forces app stores controlled by Apple and Google to remove TikTok. It also makes it illegal for web-hosting services to support TikTok. The enactment and enforcement of these provisions could be delayed by the pending litigation or Trump taking action. Looming over all the talks about a possible TikTok sale is a court battle over the legality of the law. A panel of three judges from the U.S. Court of Appeals for the D.C. Circuit heard arguments in September from the Justice Department and lawyers for TikTok over whether the law is constitutional. The Justice Department argued that the divest-or-ban law is justified because Americans' data and views cannot be potentially vulnerable to decisions made by China, a foreign adversary of the U.S. But attorneys for TikTok say banning the app violates the free speech of millions of Americans, some of whom turn to the service to express their political views. Lawyers from both sides have asked the judges to make a decision by Dec.6. There could be a drawn-out appeals process. Either party can ask for an "en banc" review of the case, which means the case would be re-argued before all 11 judges on the D.C. appeals court. And from there, the matter can be appealed to the Supreme Court. But if the court overturns the law, the Trump administration may decide not to appeal, in line with the president-elect's new view that TikTok should not be banned. TikTok sale as possible trade bargaining chip? If the law is ultimately upheld, Trump may try to strike a deal that would spin the app off, and that agreement might become part of much larger trade discussions with China, according to Daniel Lyons, law professor at Boston College who specializes in internet law. "In his mind, it might be 'What are the benefits of a win on TikTok versus the cost of trade concessions?" Lyons said. James Lewis, a former diplomat now at the Center for Strategic and International Studies, agreed that Chinese officials could entertain a sale if it becomes part of the larger trade debate. "If ByteDance can stay a passive owner, if the Chinese have some sort of degree of control over the algorithm, and TikTok can operate in the places it's allowed to operate now, it might be enough for them to swallow," he said. That's a lot of "ifs." It's unclear if the incoming Trump administration would allow for a sale in which ByteDance stayed a minority owner. And past proposals, including a pitch earlier this year from former Treasury Secretary Steve Mnuchin to organize a group of investors to purchase TikTok without the recommendation algorithm that determines what people see on the app, have drawn deep skepticism from technologists, who point out that it's one of the app's most valuable assets. Still, China experts say Beijing may view a TikTok deal as leverage in trying to tamp down some of Trump's promised steep tariffs against the country. (On the campaign trail, Trump said he'd levy 60% percent tariffs on Chinese imports. In social media posts on Monday, he said it would be 10% .) "TikTok may be a bargaining chip both for the Chinese and the Trump administration when it comes to discussions around tariffs," said Emile Dirks, research associate at the University of Toronto's Citizen Lab who studies Chinese politics. "The question is what kind of relationship does the U.S. want to have with China? What kind of Chinese state influence, or Chinese corporate influence, is the country willing to accept?" While possible bidders, and TikTok's price tag, remain unknown, a surprise partnership between software giant Oracle and Walmart teamed up back in 2020 in a failed attempt to take over TikTok . Despite support from Trump, the deal fell through, as TikTok piled up victories in court and China opposed any sale. Experts say if bidders are sought, another joint corporate proposal is likely, given how expensive TikTok could be to buy. ByteDance has valued itself at $300 billion, making it the most-valuable private startup in the world. That's roughly double the worth of ChatGPT maker OpenAI. "I think there are people who are hoping for Trump to force a fire sale for TikTok and get it at a lower price," said Lewis, adding that "there will be a lot of China hawks in the administration who will be reluctant to give up much ground on TikTok." Best predictor of what will happen? Ask the Magic 8 Ball With 170 million users in the U.S., TikTok is a cultural and economic force, and is one of the most influential social media apps among young Americans. If a sale doesn't pan out, other options TikTok watchers are speculating about include Congress repealing the law — which currently appears unlikely, according to those close to the talks. Trump could also instruct his attorney general not to enforce the law, giving the company some breathing room. And finally, Trump could bless a $2 billion effort to wall off U.S. data from Beijing, known as Project Texas, in which Austin-based software and cloud-computing company Oracle would monitor TikTok's data flows and audit the app's algorithm. The plan was rejected by the Biden administration for falling short of full ByteDance divestiture. "The best predictor of what the new administration's policies will be on TikTok," said Lewis with the Center for Strategic and International Studies, "remains the Magic 8 Ball."( MENAFN - GetNews) Bakersfield, CA - Smyle Dental Bakersfield , a leading dental practice in Bakersfield, California, is proud to offer comprehensive emergency dentistry services to patients in need of urgent dental care. With a team of experienced dentists and state-of-the-art facilities, Smyle Dental Bakersfield is well-equipped to handle a wide range of dental emergencies, providing timely and effective treatment to alleviate pain and restore oral health. 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A hit West End musical based on a beloved TV sitcom is one of the major events to look out for in January. Peter Andre is set to perform at two Suffolk venues (Image: Sisco Entertainment) When: January 15 Where: Spa Pavilion, Undercliff Road West, Felixstowe, IP11 2DX Cost: £47 Featuring singer Peter Andre the tour shows the nostalgic musical journey from New Jersey to the West End and Broadway and features hit songs like Sherry, Big Girls Don't Cry and Can't Take My Eyes Off You. It is also going to the The Apex in Bury St Edmunds on January 18. READ MORE: 7 of the biggest celebrities spotted in Suffolk in 2024 Sam Lupton takes on the roll of Del Boy (Image: Trevor Leighton) When: January 7 until January 11 Where: Ipswich Regent Theatre, 3 St Helen's Street, Ipswich, IP4 1HE Cost: From £15 Join Del Boy as he sets out on the rocky round to find his soulmate, Rodney and Cassandra prepare to say "I do", and Grandad takes stock of his life and decides the time has finally arrived to get his piles sorted. The musical features cherished material from John Sullivan's much-loved TV show with the original script and score written by his son Jim and comedian Paul Whitehouse. Learn what night is like for wildlife (Image: Gregg Brown) When: January 11 Where: Lackford Lakes, Bury St Edmunds, IP28 6HT Cost: £5 The special event will focus on the thousands of birds which fly in to spend a night on the lakes. Learn about the winter birds of Lackford through family-friendly activities, including a bedtime story for children to enjoy in one of the hides. Street food takeovers are coming to Wrights Cafe (Image: Sarah Lucy Brown) When: January 10 Where: Wrights Cafe, Unit 2, 2, Cornhill, Bury St Edmunds, IP33 1BE Cost: subject to trader Wrights in Bury St Edmunds is hosting pop-up events with street food vendors from across Suffolk. It kicks off with Samu Kitchen which will be serving up plant-based dishes to celebrate Veganuary. READ MORE: Two restaurants shortlisted for national kebab award The comedian will make audiences laugh in Ipswich (Image: Gaby Jerrard) When: January 17 Where: Ipswich Regent Theatre, 3, St Helen's Street, Ipswich, IP4 1HE Cost: £30.80 Omid Djalili's new show Namaste will see him peacefully bow to his inner anger as he unleashes a torrent of comedic vitriol upon the state of the world. The actor and comedian's production company was spotted filming around the University of Suffolk earlier this year.The highly anticipated film " " has sparked controversy after scenes featuring Palestinian-Egyptian actress May were reportedly cut due to her vocal support for . Calamawy, who was cast in a significant role, saw her screen time reduced to brief and only silent appearances after publicly criticizing Israel's 2023 attacks. The decision has reignited concerns over Hollywood's political climate and its alignment with pro-Israel interests. Originally, Calamawy’s role was marketed as central to the storyline, with her character playing a key part in the narrative alongside Paul Mescal’s character, Lucius. However, after she voiced her opposition to Israel’s war in Gaza and expressed support for Palestinians, her scenes were nearly entirely excised from the film. The drastic reduction in her role, contrary to initial announcements, has been widely seen as a response to her political stance. This incident is part of a broader pattern of censorship and backlash against individuals in entertainment who express solidarity with Palestine. Actress Melissa Barrera faced a similar fate when she was removed from "Scream 7" after criticizing Israel's actions during the Gaza conflict. Barrera’s posts, which condemned the Israeli attacks and highlighted the suffering of Palestinians, were deemed "antisemitic" by the film’s producers, leading to her dismissal. These moves have fueled accusations that Hollywood is silencing Palestinian voices and restricting freedom of expression in favor of political agendas.UCL: Liverpool beat Real Madrid 2-0 to top Champions League table
Stock market today: Rising tech stocks pull Wall Street to another recordFor as much as New York Knicks guard Josh Hart hustles on the court, he carves out plenty of time for his own sports fandom. With his social media posting about other leagues comes inevitable confusion. Editor's Picks 'In JD5 we trust': Josh Hart trolls Knicks teammates after Commanders down Eagles 2d Anthony Gharib Wemby debut, LeBron vs. Steph: Top questions for the NBA's Christmas games 2h NBA insiders On Sunday morning, Hart -- an avid fan of English Premier League side Chelsea -- was tuned in to the day's action across the Atlantic. Tottenham Hotspur , a London rival of Chelsea, lost a wild 6-3 affair to top of the table Liverpool that day, prompting a mocking post from Hart. Spurs = 💩💩💩💩 The problem? Hart's Knicks are also facing a Spurs squad this week -- hosting the NBA's San Antonio Spurs on Christmas Day at Madison Square Garden. Hart was asked ahead of the clash about the post, prompting him to explain that he meant a different team. "I wasn't talking about those Spurs," Hart clarified to an assortment of laughing reporters. "The Spurs I was talking about is trash. Tottenham? The North London one? Yeah, they trash." It's not the first time Hart's propensity for posting about other sports has led to confusion in the NBA. In late September, with buzz of New York trading for Karl-Anthony Towns growing, Hart posted "Uhh...are we serious?" before clarifying on X minutes later that he had been referring to the Chelsea match. THIS IS ABOUT THE CHELSEA MATCH! https://t.co/5ZX7eX93RB The Knicks and Spurs (of San Antonio) will tip off at noon ET (ABC) on Wednesday.
STUART, Fla. , Dec. 24, 2024 /PRNewswire/ -- Health In Tech, an Insurtech platform company backed by third-party AI technology, today announced the closing of its initial public offering of 2,300,000 shares of its Class A common stock at a public offering price of $4.00 per share, for gross proceeds of $9,200,000 , before deducting underwriting discounts, commissions, and estimated offering expenses. The Company has granted the underwriter an option, exercisable within 30 days from the date of the final prospectus, to purchase an additional 345,000 shares of Class A common stock from Health In Tech at the initial public offering price, less underwriting discounts and commissions. Assuming such option is fully exercised, the Company may raise a total of approximately US$10,580,000 in gross proceeds from the Offering Health In Tech intends to use the net proceeds from the offering for system enhancements, expansion of service offerings, sales and distribution channels, talent development and retention, working capital, and other general corporate purposes. American Trust Investment Services, Inc. acted as the sole book-running manager for the offering. A registration statement on Form S-1 (File No. 333-281853) relating to the shares was filed with the Securities and Exchange Commission and became effective on December 19, 2024 . This offering was made only by means of a prospectus, forming part of the effective registration statement. A copy of the prospectus relating to the offering can be obtained when available, by contacting American Trust Investment Services, Inc., 230 W. Monroe Street , Suite 300, Chicago, IL 60606, or via E-Mail at ECM@amtruinvest.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Health In Tech Health in Tech ("HIT") is an Insurtech platform company backed by third-party AI technology. We offer a dynamic marketplace designed to create customized healthcare plan solutions while streamlining processes through vertical integration, process simplification, and automation. By eliminating friction and complexities, HIT enhances value propositions for employers and optimizes underwriting, sales, and service workflows for Managing General Underwriters (MGUs), insurance carriers, licensed brokers, and Third-Party Administrators (TPAs). Learn more at healthintech.com . Forward-Looking Statements Regarding Health In Tech Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech's possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "design," "target," "aim," "hope," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "project," "potential," "goal," or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech's actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech's control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech's operations, results of operations, growth strategy and liquidity. Investor Contact Investor Relations: ir@healthintech.com View original content to download multimedia: https://www.prnewswire.com/news-releases/health-in-tech-announces-closing-of-initial-public-offering-302338923.html SOURCE Health In TechBy Funto Omojola, NerdWallet Mobile wallets that allow you to pay using your phone have been around for well more than a decade, and over those years they’ve grown in popularity, becoming a key part of consumers’ credit card usage. According to a “state of credit card report” for 2025 from credit bureau Experian, 53% of Americans in a survey say they use digital wallets more frequently than traditional payment methods. To further incentivize mobile wallet usage, some credit card issuers offer bonus rewards when you elect to pay that way. But those incentives can go beyond just higher reward rates. In fact, mobile wallets in some ways are becoming an essential part of activating and holding a credit card. For example, they can offer immediate access to your credit line, and they can be easier and safer than paying with a physical card. From a rewards perspective, it can make a lot of sense to reach for your phone now instead of your physical card. The Apple Card offers its highest reward rates when you use it through the Apple Pay mobile wallet. Same goes for the PayPal Cashback Mastercard® when you use it to make purchases via the PayPal digital wallet. The Kroger grocery store giant has a co-branded credit card that earns the most when you pay using an eligible digital wallet, and some major credit cards with quarterly rotating bonus categories have a history of incentivizing digital wallet use. But again, these days it’s not just about the rewards. Mobile wallets like Apple Pay, Samsung Pay and PayPal can offer immediate access to your credit line while you wait for your physical card to arrive after approval. Indeed, most major issuers including Bank of America®, Capital One and Chase now offer instant virtual credit card numbers for eligible cards that can be used upon approval by adding them to a digital wallet. Additionally, many co-branded credit cards — those offered in partnership with another brand — commonly offer instant card access and can be used immediately on in-brand purchases. Credit cards typically take seven to 10 days to arrive after approval, so instant access to your credit line can be particularly useful if you need to make an urgent or unexpected purchase. Plus, they allow you to start spending toward a card’s sign-up bonus right away. As issuers push toward mobile payments, a growing number of merchants and businesses are similarly adopting the payment method. The percentage of U.S. businesses that used digital wallets increased to 62% in 2023, compared to 47% the previous year, according to a 2023 survey commissioned by the Federal Reserve Financial Services. Wider acceptance is potentially good news for the average American, who according to Experian has about four credit cards. While that won’t necessarily weigh down your wallet, it can be hard to manage multiple cards and rewards categories at once. Mobile wallets offer a more efficient way to store and organize all of your workhorse cards, while not having to carry around ones that you don’t use often. They can also help you more easily monitor your spending and rewards, and some even track your orders’ status and arrival time. Plus, paying with a digital wallet offers added security. That’s because it uses technology called tokenization when you pay, which masks your real credit card number and instead sends an encrypted “token” that’s unique to each payment. This is unlike swiping or dipping a physical card, during which your credit card number is more directly accessible. And again, because a mobile wallet doesn’t require you to have your physical cards present, there’s less chance of one falling out of your pocket or purse. More From NerdWallet Funto Omojola writes for NerdWallet. Email: fomojola@nerdwallet.com. The article Activating Your Credit Card? Don’t Skip the Mobile Wallet Step originally appeared on NerdWallet .
Holland Foundation honors founders’ legacy with $2.1 million gift
ENGLEWOOD, Colo. (AP) — Losses to the Chargers and Bengals with a playoff berth on the line show Sean Payton made a miscalculation when he agreed to flex the Denver Broncos' Week 16 game to a Thursday night. Read this article for free: Already have an account? To continue reading, please subscribe: * ENGLEWOOD, Colo. (AP) — Losses to the Chargers and Bengals with a playoff berth on the line show Sean Payton made a miscalculation when he agreed to flex the Denver Broncos' Week 16 game to a Thursday night. Read unlimited articles for free today: Already have an account? ENGLEWOOD, Colo. (AP) — Losses to the Chargers and Bengals with a playoff berth on the line show Sean Payton made a miscalculation when he agreed to flex the Denver Broncos’ Week 16 game to a Thursday night. The NFL needed the Broncos’ approval to replace the Cincinnati-Cleveland game with the Broncos-Chargers game because Denver had already played on a Thursday night on the road. He eagerly agreed to the switch, figuring the team’s fanbase always travels well to SoFi Stadium in Los Angeles and the Broncos would be the more rested team at Cincinnati. But after an emotional comeback win over the Colts, the Broncos (9-7) lost to the Chargers in part because Payton got away from the run even though it helped them score touchdowns on their first three drives — and he had written “Run It!!” in marker on top of his play sheet. And they lost to the Bengals 30-24 in overtime on Saturday after Payton decided against going for 2 and the win when Marvin Mims Jr. hauled in a highlight-reel touchdown grab between two defenders with 8 seconds left in regulation. “We knew a tie for us was just as beneficial as a win,” Payton explained. “We felt like we had the momentum at that point.” Holding up two fingers, rookie QB Bo Nix lobbied for the 2-point try to no avail. “We discussed it all. We had plenty of time, plenty of time, plenty of time,” Payton said. “And the decision we made was the right one.” Well ... An extra point assured Joe Burrow would get the ball back, and the Broncos hadn’t forced a single punt all game, something Payton acknowledged afterward that he wasn’t aware of, and they hadn’t stopped the Bengals since twice holding them on fourth down in the first half. They finally forced a punt in overtime, but the Broncos went three-and-out, something they did again after Bengals kicker Cade York doinked a 33-yard field-goal attempt off the left upright on Cincinnati’s second possession. With the Bengals out of timeouts, all the Broncos needed was a first down and they’d be playoff-bound for the first time since 2015, but Bo Nix misfired to tight end Adam Trautman on third-and-long, so the Broncos punted and Burrow led the Bengals (8-8) on their game-winning touchdown drive. “I thought we could move the ball in overtime,” Nix said, “but we didn’t.” The Broncos could render all of it moot with a win in Week 18 against Kansas City with the Chiefs (15-1) expected to rely heavily on backups as they rest up for the playoffs as the AFC’s top seed. But Denver’s defense has been dismal since November, giving up the most yards in the league, and another letdown against the Chiefs would give the Broncos their biggest collapse in two decades. “This is what we do it for — meaningful games here,” Payton said. “I think it’s important that you embrace it, and it is exciting. There’s nothing worse than playing games in the last part of the season where there’s nothing at stake. So I think it’s something we’ll all be excited about.” What’s working Denver’s pass rush. The Broncos sacked Burrow seven times, giving them a league-high 58 for the season. Zach Allen had a career-best 3 1/2 of them and Dondrea Tillman’s sack gives the Broncos six players without at least five sacks this season. What needs help Riley Moss led the Broncos with 14 tackles but he had a tough return to action after missing a month with a sprained MCL. Burrow targeted him over and over, including on the game-winning touchdown throw to Tee Higgins, who caught three TD passes. “Riley could have been healthy for the last eight weeks. Whoever’s opposite Pat, they’re going to go that direction, right?” Payton said. (Higgins) is a good player. A real good player. It wasn’t anything that we didn’t expect. In other words, that happens when you’re teammates with Pat.” Stock up WR Marvin Mims Jr. had a breakout performance with eight catches for 103 yards and two fourth-quarter touchdowns, a 51-yarder and the 25-yard catch on fourth down in the closing seconds while sandwiched between two veteran defenders. Stock down Denver’s defense. Even with Moss back, which allowed DC Vance Joseph to go back to relying more on man coverage, the Broncos defense continued to struggle since the calendar turned to December. Injuries The Broncos came out healthy although superstar CB Patrick Surtain II was limping on the game’s final snaps. Key number Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. 5 — Number of NFL rookie QBs to throw for at least 3,000 yards and 25 touchdowns with Nix joining Justin Herbert, Baker Mayfield, Russell Wilson and Peyton Manning. What’s next It’s all or nothing next week when a win over the Chiefs would send Denver to the playoffs. ___ AP NFL: https://apnews.com/hub/NFL Advertisement Advertisement
NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The S&P 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 28.7% to lead the market. Following allegations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company’s board. It also said that it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 3.2% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 0.5% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street’s frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 5% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.2%. Walmart , which gave a more optimistic forecast, rose 0.2%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.4%. All told, the S&P 500 added 14.77 points to 6,047.15. The Dow fell 128.65 to 44,782.00, and the Nasdaq composite climbed 185.78 to 19,403.95. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday’s headliner report to show U.S. employers accelerated their hiring in November, coming off October’s lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. ___ AP Business Writers Matt Ott and Elaine Kurtenbach contributed.None
NEW YORK, Dec. 29, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Chipotle Mexican Grill, Inc. (NYSE: CMG) between February 8, 2024 and October 29, 2024, both dates inclusive (the “Class Period”) and those who purchased Chipotle call options or sold put options during the Class Period, of the important January 10, 2025 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Chipotle securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Chipotle class action, go to https://rosenlegal.com/submit-form/?case_id=30587 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 10, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Chipotle’s portion sizes were inconsistent and left many customers dissatisfied with Chipotle’s offerings; (2) in order to address the issue and retain customer loyalty, Chipotle would have to ensure more generous portion sizes, which would increase cost of sales; and (3) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Chipotle class action, go to https://rosenlegal.com/submit-form/?case_id=30587 call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.comNew AI-powered tools are set to radically change video on Instagram in 2025. Thanks to powerful new features expected in 2025, your social media feeds may soon be awash with even more AI-generated content following a recent announcement from Instagram head Adam Mosseri. As Mosseri recently revealed in one of his regular updates, the Meta-owned social media platform plans to introduce new AI-powered video editing tools allowing users to change “nearly any aspect” of their videos using simple text prompts. Head of Instagram, Adam Mosseri, introduces Meta's powerful new AI video editing capabilities In his teaser video , Mosseri introduces some of the capabilities of the future tool. At the same time, the AI seamlessly implements a range of impressive effects, such as altering his outfit, adding jewelry, changing his location and appearance, and even transforming himself into a felt puppet, with surprisingly convincing results. These effects aren’t yet ready for release but show early examples of what Meta can do with its home-grown Movie Gen AI model, announced in October, which Mosseri hopes to unleash on Instagram users in 2025. If the tools work as promised, users will soon be able to perform advanced video editing tricks by simply typing what they want to see rather than having to learn how to edit videos or code special effects. You’ve probably already seen similar-looking effects in the form of filters on Instagram stories or TikTok videos, but these pre-built, off-the-shelf effects are generally designed by someone else. Meta’s text-based video AI is different because it potentially allows users to create whatever effects they want without the need for advanced editing or coding skills. Google’s Gmail Upgrade—Why You Need A New Email Address In 2025 Urgent New Gmail Security Warning For Billions As Attacks Continue FinCEN Extends Beneficial Ownership Information (BOI) Reporting Deadline New Instagram AI Video Tools — Do We Need Them? However, Mosseri’s teaser has drawn mixed responses so far, including negative comments questioning the need for even more AI-generated content on a platform already seemingly overrun with it. On the other hand, some are excited to get their hands on these new AI-powered tools, noting that they will help users create engaging content much more easily using only the Instagram app rather than resorting to third-party video editing tools such as Capcut. Instagram's AI video editing tools draw a mixed response. Making video editing easier for novice creators will surely spark creativity, but whether or not the new content is good remains to be seen. Organic video recordings will still have their place on Instagram, even if it becomes increasingly difficult to tell what is real and what is AI. Conversely, it doesn’t take a great leap of the imagination to dream up some somewhat less wholesome applications of this new tech. Deepfakes, misinformation and potentially harmful appearance-changing edits are all obvious problem areas. We will have to wait and see what safeguards Meta puts in place to avoid potentially dangerous content moving forward. Perhaps one unintended side effect of such a dramatic increase in AI-generated online content may be to push people to place more value in live entertainment and personal interactions in real life. We can but hope. Follow @paul_monckton on Instagram.
49ers QB Brock Purdy remains severely limited by injury to his throwing shoulder[Source: BBC] Joe Biden has begun his long-anticipated maiden visit to sub-Saharan Africa as US president but it comes amidst uncertainty over future US-Africa relations as Donald Trump prepares to succeed him in January. Biden’s visit to oil-rich Angola seeks to underline an attempt by America to focus more on trade and heavy investment in infrastructure, in what some analysts see as the most direct counter yet to China’s influence on the continent. Biden’s choice of Angola is significant – he is the first US president to visit the country, signalling a dramatic improvement in relations between the two nations. Angola was firmly in the political orbit of China and Russia after independence from Portuguese colonial rule in 1975, but since taking power in 2017, President João Lourenço has steered it towards closer relations with the US. Biden will highlight his signature initiative in the region – a railway line that will stretch for 1,344km (835 miles), connecting the cobalt, lithium and copper mines in the Democratic Republic of Congo, and the copper-belt region of Zambia, to the Angolan port city of Lobito on the Atlantic Ocean. Apart from oil, Angola is also rich in minerals, including cobalt and lithium, which are essential for making batteries for electric vehicles. Once completed, the Lobito Corridor will help transport these important minerals from the resource-rich heart of Africa across to Europe and the US. On its website, the Lobito Corridor Investment Promotion Authority (IPA), says the US involvement “represents the first alternative from Washington DC to China’s Belt and Road Initiative” that is aimed at building a series of trade routes that tie several countries in Africa, and elsewhere, to the Asian giant. Biden’s visit comes at the tail-end of his presidency, with no clarity yet on whether the Trump administration will continue with the project. Dr Vines believes it “may survive the Trump presidency as it is primarily aimed at competing against China”. However, he points out that both Western and Chinese firms will be able to use the infrastructure, and that “may make its value questionable to Trump, a US president who will likely define his administration in large measure by competition with Beijing”. Lourenço expressed hope that the Trump administration would build on the initiative. The Lobito Corridor is a joint project between the three African countries, the US, other G7 powers and private investors. Lourenço defended the investment, dismissing concerns that it mimics the colonial-era exploitation of Africa’s resources. But more and more African countries are considering reducing the export of raw materials to promote local processing. Anthony Carroll, a minerals expert at the US Institute of Peace, said that if this happens, it could derail the projected economic impact of the corridor. He is optimistic that the vast deposits of copper in DR Congo and Zambia will keep the Lobito Corridor viable as there exists “a steady demand” for it globally. Lithium and cobalt have a more “cyclical” demand, he says. The US Geological Survey estimates that DR Congo has nearly half the world’s cobalt deposits. The vast central African country currently accounts for about 63% of the global supply of the mineral, the bulk of which is exported raw. Mr Angelo is optimistic that African countries will incrementally grow their industrial capabilities. He describes Biden’s visit, and the investment in the Lobito Corridor, as a huge boost for Angola’s efforts to change its image. Angola has been rebuilding its infrastructure following the end of an almost 30-year civil war in 2002. The conflict destroyed the colonial-era Benguela railway line, which is part of the corridor, with only 3% of it in use at the end of the conflict. Efforts to revive it then began, with China being the first to invest in it.
Destination Jamaica to be streamed on several digital platformsInvesting.com -- Credo Technology Group Holding Ltd (NASDAQ:CRDO) on Monday reported a 64% surge in second-quarter revenue, driven by robust demand for its connectivity solutions fueled by increasing AI deployments. The company also narrowed its quarterly loss Credo's shares soared 31% in after-market trading. The cable maker posted revenue of $72 million for the quarter ended Nov. 2, a substantial year-over-year increase. Its GAAP net loss was trimmed to $0.03 per share, compared to a loss of $0.04 per share in the same period a year earlier. Credo is projecting third-quarter revenue between $115 million and $125 million, with GAAP gross margin expected to range from 60.6% to 62.6%. The company anticipates operating expenses of $58.6 million to $60.6 million on a GAAP basis. Shares of the company were up 31% in the aftermarket trading. Related Articles Credo shares surge after 64% jump in revenue, narrowed quarterly loss U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.29% Mexico stocks higher at close of trade; S&P/BMV IPC up 1.24%