Galaxy Asset Management: November 2024 Month End AUMWASHINGTON, Nov 27 (Reuters) - U.S. President-elect Donald Trump is widely expected to again turn to a favorite legal tool to underpin threatened tariffs on imports from Mexico, Canada and China: the International Emergency Economic Powers Act, one of several legal avenues to impose his broader tariff agenda. Trump this week fired the first trade-related broadside of his second term - eight weeks before taking office - threatening 25% duties on goods from Mexico and Canada and an additional 10% tariffs on Chinese goods to push them to clamp down on the flow of the deadly opioid fentanyl and illegal migrants into the U.S. Trade lawyers and other experts say there is ample authority for him to move quickly without approval from Congress. Here are the key tools he could use in his sweeping tariff agenda: Trump could declare a national emergency over the fentanyl crisis and the southern U.S. border, which would unlock the use of this statute, enacted in 1977 and updated in 2001 to impose tariffs or financial sanctions. Trump invoked that statute a number of times during his first term, including to back up his threat of a 5% tariff on Mexican goods. He dropped the threat after Mexico vowed to deploy security forces to stem the flow of illegal immigrants into the U.S. The then-Republican president also said the statute gave him the authority to "order" U.S. companies to leave China, and towards the end of his term in August 2020 he invoked the law again in an attempt to ban Chinese-owned video platform TikTok. Congress can revoke the use of the statute by passing a joint declaration of disapproval. "But that's a heavy lift, especially for a Republican Congress" at the start of Trump's term, said Stephen Kho, a trade lawyer at Akin Gump and former China trade enforcement counsel at the Office of the U.S. Trade Representative. Courts have generally upheld challenges to the statute and its predecessor, the 1917 Trading with the Enemy Act, which then-President Richard Nixon invoked in 1971 to impose a 10% supplemental duty , opens new tab on all U.S. imports to ease a balance of payments crisis and push Germany and Japan to revalue their currencies against the dollar. Trump has proposed broad 10%-20% tariffs on all U.S. imports. Like Nixon, Trump could invoke the IEEPA for this, but would face a higher standard of defining an "unusual and extraordinary threat" to the national security, foreign policy or economy of the U.S. Trade experts also say Trump could return to the Cold War-era Section 232 statute to underpin broader tariffs, but this would require a new investigation that could take months to complete. Trump invoked Section 232 to impose tariffs of 25% on global steel imports and 10% on aluminum in 2018, but negotiated exemptions for Canada and Mexico a year later that eliminated their retaliatory tariffs on U.S. pork, beef, bourbon and other products. Trump is likely to again turn to Section 301, the backbone of his 2018-2020 trade war against China, as he looks to super-size his tariffs on Chinese imports. The statute, which allows the U.S. to retaliate against trading partners' unfair practices, underpinned punitive duties of up to 25% on some $370 billion worth of Chinese imports, from semiconductors to machinery to toys after a USTR investigation found that China was misappropriating U.S. intellectual property and coercing the transfer of U.S. technology to Chinese firms. Trump's newly nominated U.S. trade representative, Jamieson Greer , may be able to modify the existing China Section 301 findings to justify additional tariffs on Chinese goods, as current USTR Katherine Tai did to back President Joe Biden's sharply higher duties on electric vehicles, batteries, semiconductors and solar products. But Greer may also launch a new Section 301 probe into China's state-driven excess industrial capacity - an increasing concern for the U.S. and market economies - and industry-domination practices. While trade lawyers say there is well-documented evidence of such practices, it would take likely several months for a new Section 301 probe to be completed, given the need for public comment periods and hearings. Trump could invoke this balance-of-payments statute to impose an additional global U.S. tariff for 150 days to restrict imports in the event of balance-of-payments problems, or to prevent a significant depreciation of the dollar. Congress added this authority as a result of Nixon's 10% tariff action in 1971. But the statute limits the tariff action to 150 days, unless extended by Congress. This anti-discrimination statute remains on the books, though it has not appeared in public government correspondence since the late 1940s. At that time, the U.S. and its trading partners agreed to "bound" global tariff rates under the post-war Global Agreement on Tariffs and Trade, the predecessor to today's World Trade Organization. It would allow Trump to impose additional tariffs of up to 50% on goods from any country that discriminates against U.S. products in a way that puts American goods at a "disadvantage" compared to imports from other countries. Sign up here. Reporting by David Lawder; Editing by Paul Simao Our Standards: The Thomson Reuters Trust Principles. , opens new tab
A not-sweet Week 16 for us, specially against the spread (with the Vikings’ 3-point win the push). We missed our Upset of the Week, missed on Fins-Niners and got unlucky on Jalen Hurts’ injury. The good stuff? One point off an Exacto perfect score on Lions-Bears, and had Dallas with the points over Tampa. With two weeks left our .675 mark outright is very solid but we’re now down to five games over .500 against the betting line. Finish strong! [Note: Our Christmas Day picks were Chiefs (14-1, -2 1/2) over @Steelers (10-5), 24-18, and Ravens (10-5, -5 1/2) over @Texans (9-6), 27-20. Our Thursday night pick was Seahawks (8-7, -3 1/2) over @Bears (4-11), 23-16.] ——— Week 16: 10-6, .625 overall; 6-9-1, .406 vs. spread. Season: 162-78, 675 overall; 120-115-5, .511 vs. spread. ——— GREG COTE’S NFL WEEK 17 PICKS GAME OF THE WEEK FALCONS (8-7) at COMMANDERS (10-5) Line: WAS by 4 1/2. Cote’s pick: WAS, 27-24. TV: 8:20 p.m. Sunday, NBC/Peacock. [Playoff impact: WAS clinches playoffs with a win and loss by TB. ATL clinches division with a win and a loss by TB.] Green Bay-Minnesota had much backing from the Game of the Week committee, but this Sunday prime-time duel won by a nose on playoff bearing. Washington is the only one of nine 10-win teams to not yet clinch a postseason spot but tries again here as Atlanta seeks to qualify as well by winning its division. Commanders pass defense will make it tough on Michael Penix Jr. in a way the Giants did not last week in his first NFL start. But Bijan Robinson will own big turf vs. Comms beatable run-D to keep game inside the bet-line. UPSET OF THE WEEK PACKERS (11-4) at VIKINGS (13-2) Line: GB by 1. Cote’s pick: MIN, 27-24. TV: 4:25 p.m. Sunday, Fox. [Playoff impact: Both are playoff-clinched, so stakes here are relatively low.] “AAWWK!” carols the Upset Bird. “Not much of an upsaawwk!” Yeah, I know. Near-pick-’em games aren’t true upsets, but few Week 17 games had Big U potential that drew us in, and so a 13-2 team as a home ‘dog (by any amount) qualifies, if only technically. Vikes beat Pack, 31-29, early in season but led 28-0 before a wild Gee Bees comeback. Minny’s elite run defense will goad Jordan Love into a couple of turnovers as Purples score first season sweep of Green Bay since 2017. “Appreciate the use of the word ‘goad’,” notes U-Bird as a random aside. “Vikings are 7-1 at home, by the way. By the waawwk!” THE REST OF WEEK 17: Christmas Day picks were Chiefs (14-1, -2 1/2) over @Steelers (10-5), 24-18, and Ravens (10-5, -5 1/2) over @Texans (9-6), 27-20: We were a perfect 2-0/2-0. Thursday night pick was Seahawks (8-7, -3 1/2) over @Bears (4-11), 23-16. Chargers (9-6, -4 1/2) over @Patriots (3-12), 24-13: [Playoff impact: LAC clinch playoffs with win or losses by MIA and IND. NE is long out of it.] Dolphins fans will be in unusual spot: Cheering for the Patriots to win. NE hasn’t quit, as Buffalo learned last week. But Chargers, with stakes and a rest/prep edge after playing last Thursday, should handle Pats in this first of three Saturday games. @Bengals (7-8, -3 1/2) over Broncos (9-6), 27-23: [Playoff impact: DEN clinches playoffs with win. CIN is alive but must win and get help.] If Chargers win earlier Saturday, Miami would be eliminated from playoff contention with a Denver win in this middle of three Saturday tilts. Been a season-long climb from an 0-3 start for Cincy, but Joe Burrow-to-Ja’Marr Chase has been deadly as any combo in NFL. Riding that hot duo at home. @Rams (9-6, -6 1/2) over Cardinals (7-8), 31-17: [Playoff impact: LAR would win division with win and SEA loss. ARI is out.] Arizona clobbered the Rams, 41-10, in September and is a danger in a division spoiler role this time, but we’re feeling payback here in the prime-time cap to Saturday’s tripleheader. Matthew Stafford has led L.A. to four straight wins and the Rams’ D as allowed only 15 total points in past two. @Bills (12-3, -8 1/2) over Jets (4-11), 37-13: [Playoff impact: BUF has clinched division and cannot win No. 1 seed so has little to play for. NYJ is way done.] Kansas City’s Christmas Day win earned the No. 1 seed and bye, so might Buffs limit key starters’ time on field? I’d sooner bet that, after only beating the Jets 23-20 in October and just getting by Pats 24-21 last week, Josh Allen’s Bills (7-0 at home) will be out to generate momentum heading into playoffs. Raiders (3-12, -1) over @Saints (5-10), 19-17: [Playoff impact: None. Both are out.] N’Awlins getting QB Derek Carr back from hand injury to face his ex-team would spice an otherwise bland matchup, but it was looking on Thursday like Spencer Rattler again. Vegas has been bad on road but is still playing hard and the offense cooks a bit better with Aidan O’Connell. So lean there in a near-pick-’em game. Colts (7-8, -7 1/2) over @Giants (2-13), 27-16: [Playoff impact: IND is alive but cannot clinch here. NYG were eliminated in the Cretaceous Period.] A Colts loss here would benefit Miami — if Broncos or Chargers lose Saturday to keep Fins’ hopes alive. Giants have lost 10 straight, only covering the spread once, and are NFL’s only winless home team (0-8) in nightmare year for Brian Daboll. Indy QB Anthony Richardson is banged up but Jonathan Taylor will lope for miles on NYG’s awful run-D. Dolphins (7-8, -6 1/2) over @Browns (3-12), 24-16: [Playoff impact: To stay alive, MIA must have DEN or LAC lose on Saturday and then beat the Browns. CLE of course is way eliminated.] Miami will know before kickoff if their game in the cold of Cleveland is must-win or meaningless. Denver and the L.A. Chargers both play Saturday and at least one needs to lose. If both win the Fins are finished no matter their result on the shore of Lake Erie. Miami won these teams’ last meeting in 2022 but lost its most recent trip to Cleveland in ‘19. The Dolphins are only 2-5 on the road and Tua Tagovailoa’s track record in cold weather is dismal. Sunday’s afternoon-into-evening clime in Cleve is forecast for high 40s but with a likelihood of rain — dismal in my book. Still like Miami, especially with Browns’ QB straits. Dorian Thompson-Robinson (calf) and the demoted Jameis Winston (shoulder) both are hobbled, though DTR is expected to start. Browns have scored 17 points or fewer in 11 of their 12 losses. Now top targets Jerry Jeudy and David Njoku also are both are iffy to play, while Fins hope to have Jaylen Waddle back. @Eagles (12-3, -7 1/2) over Cowboys (7-8), 23-17: [Playoff impact: PHI has clinched playoffs and can win division with win here and loss by WAS. DAL is out.] These NFC East rivals both entered season with sky-high hopes. One of them has lived up. Tough pick here, though, because Birds QB Jalen Hurts (concussion) was very iffy as of Thursday and backup Kenny Pickett (ribs) also was limited. Behind door No. 3: One Tanner McKee. Meanwhile Cowboys are good fit for spoilers, as Tampa learned last week, and Cooper Rush has played well lately. Hunch Philly finds a way, but lean ‘Boys on the cover. @Buccaneers (8-7, -8) over Panthers (4-11), 27-23: [Playoff impact: TB is alive for division title but cannot clinch here. CAR is way done.] Bucs have beaten Cats four in a row and eight of past nine but needed OT to sneak by on Dec. 1. Atlanta owns tiebreaker edge in NFC South, so could be division title-or-bust for Tampa. Carolina has been competitive second half of season, but this is must-win home test Baker Mayfield’s Bucs. Titans (3-12, -1) over @Jaguars (3-12), 17-14: [Playoff impact: Ha! You’re kidding, right?] With teams this level of bad, games are typically lost by mistakes more than won with great plays. So this is a telling trend I’m saddling up: Tennessee’s defense has collected seven takeaways in past three games. Jacksonville’s offense has sloppied to a minus-seven turnover margin in its past four games. Lions (13-2, -3 1/2) over @49ers (6-9), 30-20: [Playoff impact: DET clinches playoffs’ No. 1 NFC seed and bye with a win and a MIN loss. SF is eliminated.] This NFC championship game rematch was supposed to be a great one for Monday night. But one team failed to hold up its end. Detroit has NFL’s only perfect road record (7-0) and should maintain that. Niners are dangerous as spoilers and could capitalize on Lions’ defensive injuries, but Jared Goff and this Motown offense (now with heaver doses of Jahmyr Gibbs) outscore just about everybody in its path. [Note: Betting lines courtesy ESPNBet as of mid-afternoon Thursday.] ©2024 Miami Herald. Visit miamiherald.com . Distributed by Tribune Content Agency, LLC.MELVILLE, N.Y. and DAVIDSON, N.C. , Dec. 18, 2024 /PRNewswire/ -- MSC Industrial Supply Co. (NYSE: MSM ) , a premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and services to industrial customers throughout North America , today announced that its Board of Directors has declared a cash dividend of $0.85 per share. The $0.85 dividend is payable on January 29, 2025 to shareholders of record at the close of business on January 15, 2025 . About MSC Industrial Supply Co. MSC Industrial Supply Co. (NYSE: MSM ) is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services. We help our customers drive greater productivity, profitability and growth with approximately 2.4 million products, inventory management and other supply chain solutions, and deep expertise from more than 80 years of working with customers across industries. Our experienced team of more than 7,000 associates works with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking, retooling and optimizing for a more productive tomorrow. For more information on MSC Industrial, please visit mscdirect.com. Cautionary Note Regarding Forward-Looking Statements Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth, profitability and return on invested capital, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector; the credit risk of our customers; our ability to accurately forecast customer demands; customer cancellations or rescheduling of orders; interruptions in our ability to make deliveries to customers; supply chain disruptions; our ability to attract and retain sales and customer service personnel; the risk of loss of key suppliers or contractors or key brands; changes to trade policies or trade relationships; risks associated with opening or expanding our customer fulfillment centers; our ability to estimate the cost of healthcare claims incurred under our self-insurance plan; interruption of operations at our headquarters or customer fulfillment centers; products liability due to the nature of the products that we sell; impairments of goodwill and other indefinite-lived intangible assets; the impact of climate change; operating and financial restrictions imposed by the terms of our material debt instruments; our ability to access additional liquidity; our ability to realize the desired benefits from the reclassification of our Class B Common Stock to Class A Common Stock; the significant influence that our principal shareholders will continue to have over our decisions; our ability to execute on our E-commerce strategies and maintain our digital platforms; costs associated with maintaining our information technology ("IT") systems and complying with data privacy laws; our ability to remediate a material weakness in our internal control over financial reporting and to maintain effective internal control over financial reporting and our disclosure controls and procedures in the future; disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels; risks related to online payment methods and other online transactions; the retention of key management personnel; litigation risk due to the nature of our business; failure to comply with environmental, health, and safety laws and regulations; and our ability to comply with, and the costs associated with, social and environmental responsibility policies. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, and in the other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law. SOURCE MSC Industrial Supply Co.
LAS VEGAS--(BUSINESS WIRE)--Dec 18, 2024-- VictoriaMetrics , open source time-series database and monitoring solution and IHI Terrasun Solutions, a leading energy storage system integrator today announced their collaboration on one of North America’s largest clean energy projects. The Gemini Solar + Storage project , which is carefully situated on less than 5,000 acres, is designed to provide clean energy for up to 10% of Nevada’s electricity needs during peak use times. VictoriaMetrics’ advanced open source database and monitoring solution plays a pivotal role in optimizing the output from over 1.8 million solar modules and maintaining the battery health of its 1,4 GWh storage system, one of the largest in the world . Enterprise edition becomes the data management solution of choice To effectively manage the vast amounts of data generated by Gemini's solar panels and battery storage systems, IHI Terrasun implemented a solution that could handle millions of metrics per second with exceptional accuracy and efficiency. Traditional data handling systems were inadequate due to their inability to scale with higher data demand, leaving the data science and data management teams at IHI Terrasun to seek a more advanced solution. After careful evaluation and market research, selecting VictoriaMetrics’ Enterprise solution was the clear choice. "VictoriaMetrics is an essential part of data management for the Gemini project and is the backbone of IHI Terrasun’s data collection and management system. The platform's ability to handle massive datasets with ease has been invaluable” , explained Larry Kane, SVP of Project and Product Engineering at IHI Terrasun . “We use the data to generate operational insights for maintenance and optimization, which is essential for the health of the project. The VictoriaMetrics team’s resourcefulness and quick response makes them a great partner in this technically challenging endeavor." Stalwartly reliable and cost-effective real-time scalability VictoriaMetrics Enterprise’s advanced architecture and robust features made it the perfect solution for large-scale projects like Gemini for four reasons: “We’re thrilled to see VictoriaMetrics help grow IHI Terrasun's energy storage operations over the past six years. Our commitment to developing an efficient and scalable solution has been central to VictoriaMetrics’ mission, and we could not have achieved this success without IHI Terrasun’s invaluable feedback on our Enterprise product.” Artem Navoiev, Co-Founder of VictoriaMetrics , stated. “In these times where breaking heat records has become a new normal, I'm glad projects like Gemini exist, and VictoriaMetrics can support them. If we can help reduce CO2 emissions, we're making a difference. This is a win-win-win for IHI Terrasun, VictoriaMetrics, the Gemini project and ultimately, for the planet.” A bright future for clean energy As the Gemini project continues to deliver electricity with IHI Terrasun’s stewardship, VictoriaMetrics will remain a vital component of its success. With its commitment to innovation and customer satisfaction, VictoriaMetrics is well-positioned to support IHI Terrasun's energy storage projects and contribute to a more sustainable future. About VictoriaMetrics Founded in Kyiv, Ukraine, now globally led and headquartered in the US, VictoriaMetrics is the scaleup leader in the category of open source time series database monitoring. The VictoriaMetrics management team came together following successful careers at Google, Lyft and Cloudflare to solve the hard problems around very large, constantly changing data types which they themselves had encountered. VictoriaMetrics also boasts VictoriaLogs, which gives under-pressure teams enhanced observability of complex systems and their interactions, over 650 million downloads and customers which include Adidas, Grammarly and Wix. For more information, please visit https://victoriametrics.com About IHI Terrasun Solutions IHI Terrasun Solutions provides hardware integration, software, and services for energy storage projects. The company’s proprietary design software and controls platform optimizes project sizing, controls and monitoring functions, and predictive services to ensure high reliability, performance, and efficiency. IHI Terrasun Solutions is a subsidiary of IHI Corporation, a multinational company based in Japan. Founded in 1853, the IHI Corporation has decades of experience with energy management and power services. For more information, please visit www.ihiterrasun.com or find us on LinkedIn View source version on businesswire.com : https://www.businesswire.com/news/home/20241218053748/en/ CONTACT: Phone number: + 353866098732 Email:jjss@victoriametrics.com KEYWORD: NEVADA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: OTHER ENERGY SOFTWARE SUSTAINABILITY ENVIRONMENT ALTERNATIVE ENERGY ENERGY DATA MANAGEMENT TECHNOLOGY SOURCE: VictoriaMetrics Copyright Business Wire 2024. PUB: 12/18/2024 05:08 PM/DISC: 12/18/2024 05:08 PM http://www.businesswire.com/news/home/20241218053748/enClimeon has achieved an important milestone in its ongoing project with HD Hyundai Heavy Industries (HD-HHI) with the delivery of all six HeatPower 300 units completed according to plan for integration on board six A.P. Moller – Maersk 17,200 TEU capacity dual-fuel, green methanol container ships. The vessels, currently under construction at HD-HHI’s shipyard in South Korea, will utilize Climeon’s HeatPower 300 systems to enhance energy efficiency on board the eco-friendly vessels. “We are pleased to share that all six HeatPower 300 units have now been delivered to HD Hyundai Heavy Industries in Korea,” said Lena Sundquist, CEO of Climeon. “Climeon’s team will be on-site in Ulsan, Korea next year to support commissioning of the HeatPower 300 units for the newbuild project, ensuring an efficient start-up and reliable operation for our customer.” Climeon’s ongoing project with HD-HHI demonstrates steady progress toward supporting customers’ operational milestones and sustainability objectives. By converting low-temperature waste heat from engine cooling water and exhaust gas into sustainable electricity, the HeatPower 300 system significantly enhances energy efficiency. This efficiency reduces consumption of current fuel supplies, cutting greenhouse gas emissions, while also helping operators prepare for the adoption of cleaner, higher-cost fuels like green methanol. With Climeon’s technology, shipowners can lower operational costs and their environmental impact today and be better positioned for the future of sustainable shipping. Source: Climeon