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2025-01-12
Furthermore, Tencent Video has introduced personalized recommendations and enhanced user interfaces for new users, providing a more tailored and seamless streaming experience. On the other hand, existing members may need to adjust to these changes gradually, as the platform transitions towards a more personalized and user-centric approach.The Nordstrom family is joining forces with a Mexican retailer to take its namesake department store private in an all-cash transaction valued at about $6.25 billion, including debt. Related Articles The founding family is betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market after shares in Nordstrom Inc. plunged 40% in the last five years. During the same period, the S&P 500 rose 84%. As part of the transaction, which is expected to close in the first half of 2025, the family and Mexican department-store chain El Puerto de Liverpool SAB will acquire all of the outstanding common shares of Nordstrom. The Nordstrom family will have a majority ownership stake in the company of 50.1%, with Liverpool owning 49.9%. Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold under the terms of the agreement, the company said Monday. That’s roughly in line with where shares were trading on Monday. Shares in Nordstrom fell as much as 1.3% on Monday in New York. The company’s stock was up 33% so far this year as of Friday’s close as reports of a take-private deal boosted the stock price. The board’s acceptance of the offer underscores Nordstrom’s decline from its peak and its subdued growth prospects. In 2018, the board rejected the family’s bid to take the company private at $50 per share as too low. Nordstrom’s annual revenue, including income from credit cards, peaked at $15.9 billion in the fiscal year ended February 2019. The company was hit hard by Covid-19 and has never returned to its pre-pandemic highs. Nordstrom is expected to report $14.9 billion in total revenue at the end of the current fiscal year, according to a Bloomberg survey of analysts. Other department-store chains in the U.S. have also struggled as shoppers pivot to online competitors such as Amazon.com Inc., or brand-specific stores such as Louis Vuitton. Executives at Macy’s Inc., for example, are shrinking the company’s store fleet to cut costs, while the owners of Saks Fifth Avenue bought Neiman Marcus Group earlier this year. During the past couple of years, investors had hoped that Nordstrom Rack, its off-price chain, could help buoy the company’s growth prospects and compensate for sluggish sales at the more upscale flagship chain. Shoppers flocked to competitors such as TJ Maxx, seeking deals as inflation soared post-pandemic. But Rack’s performance has been spotty. It stumbled when executives tweaked their strategy and stopped offering as many high-end fashion brands at a discount. Rack reversed course and sales have bounced back. Company executives have focused on opening more Rack stores in recent quarters, boosting revenue. In November, Nordstrom raised the lower end of its annual sales guidance after revenue was better than expected at Rack and the flagship chain. But the outlook is still weak, highlighting the attraction of going private: The company is forecasting that annual sales, including credit-card revenues, will be flat to up 1% versus last year. The take-private deal will be financed through a combination of rollover equity by the Nordstrom family and Liverpool, cash commitments by Liverpool, up to $450 million in borrowings under a new $1.2 billion ABL bank financing, and company cash on hand. The board also intends to pay a special dividend of up to 25 cents a share in cash contingent on the deal closing. The transaction must be approved by holders of two-thirds of the company’s common stock shareholders and the holders of a majority of the shares not owned by the Nordstrom family or Liverpool. Erik and Peter Nordstrom, who are members of the company’s board, recused themselves from the vote, which unanimously approved the transaction. “On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future,” said Erik Nordstrom, chief executive officer of Nordstrom. Liverpool, run by descendants of a French shareholder group that dates back more than a century, is one of Mexico’s most important department store chains, with an ornate flagship location in the capital’s historic center. The $7 billion publicly-traded company has ventured beyond Mexico in recent years, acquiring a stake in Latin American retail operator Unicomer in 2011 and attempting unsuccessfully to acquire control of Chile’s Ripley SA in 2015 before turning its eyes to the U.S. with the Nordstrom investment. Max David Michel, part of Liverpool’s founding family and one of the richest people in the country, retired as head of Liverpool’s board earlier this year. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.download winph

Macomb, Michigan-The secret of US President-elect Trump’s admiration for Elon Musk became clear to me during an interview where Trump narrated a fascinating story about a space rocket. Trump described how, after traveling back to Earth, instead of landing in a desert, sea, lake, or some other desolate place, the rocket executed a controlled descent. Swinging and turning wildly with a large flame roaring from its exhaust, it slowed down and gently positioned itself to land precisely on the same launcher from which it was fired. Astonished by this incredible feat of science, human ingenuity, and innovation, Trump said he immediately called Elon Musk to confirm: “Was it you?” When Musk replied affirmatively, Trump remarked, “No country on the face of the Earth could do it, not even the USA, but you did it.” This inspired me to dig deeper into Elon Musk’s wild dreams of space exploration and peek into his visionary mind. After some research, I was left reeling with amazement. Musk’s mind, it seems, is one that might have been born many years into the future. In one of his interviews, Musk mentioned the possibility of mankind traveling at twice the speed of light—not by burning any fuel but by bending time and space. He explained that by “squeezing space,” which behaves like a giant plastic sheet, we could bring distant areas of the universe closer to us without traveling any actual distance. This radical idea is rooted in Einstein’s General Theory of Relativity. Musk referred to the concept of creating a “warp bubble” that contracts space in front of a spacecraft and expands it behind, effectively allowing the craft to traverse vast distances without exceeding the speed of light within its local frame. This concept, known as the Alcubierre Drive, was proposed by physicist Miguel Alcubierre in 1994. It suggests that by warping spacetime, a spacecraft could achieve effective Faster-Than-Light (FTL) travel without violating the laws of physics. Elon Musk is captivated by this theoretically possible feat and is actively working on advanced propulsion technologies and leveraging artificial intelligence (AI) to solve complex challenges. Reports suggest that Musk has created an AI supercomputer, known as “Colossus,” located in Memphis, Tennessee. It is equipped with 100,000 of the latest Nvidia GPUs, liquid-cooled with massive water systems, and powered by Tesla Megapack batteries. According to Musk, Colossus is not merely a machine but a gateway—designed to fuel “Grok,” an AI model capable of propelling humanity beyond the boundaries of human understanding. Musk envisions Grok solving some of humanity’s greatest mysteries, such as the enigma of black holes, dark matter, and dark energy. He believes we are on the verge of unlocking the secrets of the cosmos—or perhaps discovering something even more unimaginable waiting for us on the other side. In another video, Elon Musk shared an idea that showcased his deep understanding of cosmology, explaining it in simple terms rather than relying on complex mathematical calculations or difficult-to-comprehend concepts. He stated that, while technically traveling faster than the speed of light might be theoretically possible, it remains a difficult feat to achieve at this point in time. He explained this by highlighting how space itself can play tricks on us. While we cannot travel faster than the speed of light, the fabric of space is moving at speeds faster than light. In another video, Musk described a hypothetical scenario involving a spaceship that could take you to distant stars in the blink of an eye. This concept, known as the “warp drive,” involves a revolutionary way of thinking about travel. Instead of zooming through space, a warp drive would work by stretching space in front of the ship and compressing it behind. Musk illustrated this concept by likening space to a giant rubber sheet. Imagine pulling a distant star closer to you instantly. By pulling the space in front of you closer and pushing the space behind you away, you could move forward without physically moving. This means it would be possible to travel to other planets and even distant stars faster than light, all without breaking the laws of physics. Reaching this point of understanding and innovation has not been easy for Elon Musk. When he first introduced the concept of commercial space exploration, the entire world seemed to turn against him. During a Congressional Senate hearing in 2010, many veteran space legends, including Neil Armstrong, publicly opposed the idea of commercial space exploration. Musk later revealed that this opposition brought him to tears. However, this criticism did not deter him. Today, SpaceX is approaching a $250 billion valuation and has conducted more than 400 launches over the past 14 years, including 15 crewed missions. Of these, ten were under contract with NASA to transport astronauts to the International Space Station (ISS). Under President elect Trump, a major shake-up in U.S. space policy began to take shape. There are discussions about potentially canceling future iterations of NASA’s Space Launch System (SLS) or even abandoning it altogether. Plans for Gateway, a proposed space station in lunar orbit, were also reconsidered in favor of expanding commercial contracts with companies like SpaceX. This shift aimed to accelerate efforts to send humans to Mars, a vision Musk has championed for years. Musk’s ultimate goal is to colonize Mars. His vision includes building up to 1,000 Starships a year to transport people between Earth and the red planet. As in the past, this ambitious idea is not without controversy. Many conventional scientists caution that it will require years of further research and development, as the technologies necessary to sustain life on Mars do not yet exist. However, just as Neil Armstrong and others once doubted the feasibility of commercial space exploration, these conventional scientists may not be able to deter Elon Musk from venturing into this arena. Musk has a track record of defying skepticism, as demonstrated when many believed rockets could not and would not land back on their launch pads. Musk proved them wrong by stating that if a rocket can ascend along a specific trajectory, it can also descend along the same path to return to its launcher. Once again, Musk’s determination may turn the improbable into reality. The democrats like Obama and Joe Biden had had assumed Elon Musk a biggest adversary and did whatever they could to deter him for visualizing his wild dreams. But they could not dampened his innovation and creativity and now with Donald Trump in power, and Musk himself in the driving seat to cut down on bureaucracy and and eliminate overregulations which according to him stifle entrepreneurship, cuttle creativity and slow down economic growth, the world should keep its figure cross and await for many more mind boggling innovations by many innovators like Elon Musk which might multiply by the enabling environment under Donald Trump. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );The game's narrative is further bolstered by its strong character development and emotional depth. Each Avenger has their own personal struggles and motivations, and as players progress through the game, they will uncover the complexities of these beloved superheroes. From Tony Stark's internal conflicts to Bruce Banner's struggle with the Hulk, "Marvel's Avengers" does an excellent job of humanizing its characters and making players empathize with their struggles.

The emotional moment at the salon not only showcased Xiang Zuo's romantic side but also highlighted the strength of their relationship and the deep connection they share. It was a touching reminder of the power of love to uplift and inspire, uniting people in a shared celebration of the beauty and magic of love.SAN ANTONIO (AP) — Colorado secured what it said was record insurance coverage for quarterback Shedeur Sanders and Heisman Trophy winner Travis Hunter as the star duo opted to complete their college careers in the Alamo Bowl rather than sit out and prepare for the NFL draft. Colorado would not disclose the amount of insurance coverage each received, citing privacy laws. Coach Deion Sanders and athletic director Rick George both said it was the largest in college football history. “We happen to have two players that are probably going to be the first two picks of the NFL draft,” Sanders said Monday. “We all know who those two are and they have received, I think, the highest number of coverage that has ever been covered in college football. It far exceeds anyone that has ever played this game of college football.” While college programs maintain insurance policies for their athletes in case of injury, Colorado increased disability coverage for its entire roster in the Alamo Bowl. Sanders, the coach of the No. 20 Buffaloes, ensured his QB son and two-way star Hunter received larger policies since both are expected to be among the top 10 selections in the upcoming NFL draft. “It was his idea we should get disability insurance for our athletes for this game to ensure that they played and if there was some kind of injury that they would be well taken care of," George said. “So, we worked together on that. We’re excited about it. We think it’s great that all our players are playing in the game. That’s what all bowl games should be like.” Colorado (9-3, No. 23 CFP) will face the 17th-ranked BYU Cougars (10-2, No. 17 CFP) in the Alamo Bowl on Saturday. While most teams are scrambling with starters opting out of bowl games this year to enter the transfer portal or NFL draft, the Buffaloes did not lose any player on their two-deep roster. “It’s more than what I got (when he played at Kansas State),” Colorado linebackers coach Andre’ Hart said. “They gave us a helmet and said pop this on your leg and get out there and play. For them to get that (increased insurance coverage), I just think it’s beneficial. To talk about where the game is, where it’s going and how leadership is taking care of the players, I thought that’s excellent.” Shedeur Sanders completed 337 of 454 passes for 3,926 yards and 35 touchdowns this season. Many scouting services have Sanders rated as the top quarterback in this year's draft. Hunter received the Heisman Trophy as a two-way standout at cornerback and wide receiver. He had 92 receptions for 1,152 yards and 14 touchdowns and as a cornerback had four interceptions, broke up 11 passes and limited the opposition to 22 receptions on 688 defensive snaps. “They’ve taken care of us, everybody,” Colorado running back Micah Welch said. “It really means a lot to have every teammate up here. That's a big thing. What I like about Coach Prime, they’re taking care of us.” Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football

WASHINGTON (AP) — A machinists strike. Another safety problem involving its troubled top-selling airliner. A plunging stock price. 2024 was already a dispiriting year for Boeing, the American aviation giant. But when one of the company's jets crash-landed in South Korea on Sunday, killing all but two of the 181 people on board, it brought to a close an especially unfortunate year for Boeing. The cause of the crash remains under investigation, and aviation experts were quick to distinguish Sunday's incident from the company’s earlier safety problems. Alan Price, a former chief pilot at Delta Air Lines who is now a consultant, said it would be inappropriate to link the incident Sunday to two fatal crashes involving Boeing’s troubled 737 Max jetliner in 2018 and 2019. In January this year, a door plug blew off a 737 Max while it was in flight, raising more questions about the plane. The Boeing 737-800 that crash-landed in Korea, Price noted, is “a very proven airplane. "It’s different from the Max ...It’s a very safe airplane.’’ For decades, Boeing has maintained a role as one of the giants of American manufacturing. But the the past year's repeated troubles have been damaging. The company's stock price is down more than 30% in 2024. The company's reputation for safety was especially tarnished by the 737 Max crashes, which occurred off the coast of Indonesia and in Ethiopia less than five months apart in 2018 and 2019 and left a combined 346 people dead. In the five years since then, Boeing has lost more than $23 billion. And it has fallen behind its European rival, Airbus, in selling and delivering new planes. Last fall, 33,000 Boeing machinists went on strike, crippling the production of the 737 Max, the company's bestseller, the 777 airliner and 767 cargo plane. The walkout lasted seven weeks, until members of the International Association of Machinists and Aerospace Workers agreed to an offer that included 38% pay raises over four years. In January, a door plug blew off a 737 Max during an Alaska Airlines flight. Federal regulators responded by imposing limits on Boeing aircraft production that they said would remain in place until they felt confident about manufacturing safety at the company. In July, Boeing agreed to plead guilty to conspiracy to commit fraud for deceiving the Federal Aviation Administration regulators who approved the 737 Max. Acting on Boeing’s incomplete disclosures, the FAA approved minimal, computer-based training instead of more intensive training in flight simulators. Simulator training would have increased the cost for airlines to operate the Max and might have pushed some to buy planes from Airbus instead. (Prosecutors said they lacked evidence to argue that Boeing’s deception had played a role in the crashes.) But the plea deal was rejected this month by a federal judge in Texas, Reed O’Connor , who decided that diversity, inclusion and equity or DEI policies in the government and at Boeing could result in race being a factor in choosing an official to oversee Boeing’s compliance with the agreement. Boeing has sought to change its culture. Under intense pressure over safety issues, David Calhoun departed as CEO in August. Since January, 70,000 Boeing employees have participated in meetings to discuss ways to improve safety.

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